Via Alan May, Coldwell Banker Evanston Realtor, North Shore Realtor (Evanston Real Estate, Evanston, IL):
Via The Team at EXIT Realty (EXIT Realty Corp. International):
247,000; Jobless Rate Dips! Comments (1)
US employers cut just 247,000 jobs in July; jobless rate dips, strong signal recession ending
WASHINGTON (AP) -- U.S. employers throttled back on layoffs in July, cutting just 247,000 jobs, the fewest in a year, and the unemployment rate dipped to 9.4 percent, its first decline in 15 months. It was a better-than-expected showing that offered a strong signal that the recession is finally ending. The new snapshot, released by the Labor Department on Friday, also offered other encouraging news: workers' hours nudged up after sinking to a record low in June, and paychecks grew after having fallen or flat lined in some cases. To be sure, the report still indicates that the jobs market is on shaky ground. But the new figures were better than many analysts were expecting and offered welcomed improvements to a part of the economy that has been clobbered by the recession. Analysts were forecasting job losses to slow to around 320,000 and the unemployment rate to tick up to 9.6 percent. "There's clearly been a turn for the better. The worst is behind us in terms of layoffs. Now we need to see more hiring," said economist Ken Mayland, president of ClearView Economics. The dip in the unemployment rate -- from June's 9.5 percent -- was the first since April 2008. One of the reasons the rate went down, however, was because hundreds of thousands of people left the labor force. Fewer people, though, did report being unemployed. All told, there were 14.5 million out of work in July. If laid-off workers who have given up looking for new jobs or have settled for part-time work are included the unemployment rate would have been 16.3 percent in July. That's down from 16.5 percent in June, which was the highest on records dating to 1994. Also heartening: job losses in May and June turned out to be less than previously reported. Employers sliced 303,000 positions in May, versus 322,000 previously logged. And, they cut 443,000 in June, compared with an earlier estimate of 467,000. The job cuts made in July were the fewest since August 2008. The slowdown in layoffs in part reflected fewer jobs cuts in manufacturing, construction, professional and business services and financial activities -- areas that have been hard hit by the collapse of the housing market and the financial crisis. There also were fewer layoffs in the temporary-help industry, which analysts watch for clues about future hiring. Retailers, however, cut more jobs in July. Those losses were blunted by job gains in government, education and health services, and in leisure and hospitality. The worst of the job cuts have passed. The deepest job cuts of the recession came in January, when 741,000 job disappeared, the most in any month since 1949. Since the recession began in December 2007, the economy has lost a net total of 6.7 million jobs. Slower job losses are occurring because companies aren't cutting investment and spending as drastically as they had been during the depths of the recession which came in the final quarter of last year and carried over into the first quarter of this year. With companies feeling a bit better about the economy's prospects and their own, they boosted workers' hours in July. The average work week rose to 33.1 hours, after having fallen to 33 hours in June, the lowest on records dating to 1964. And, employers bumped up wages. Average hourly earnings rose to $18.56 in July, up from $18.53 in June. Hourly earnings were stagnant in June. Average weekly earnings, which fell in June, rose to $614.34. Those gains raised hopes that consumers -- whose spending accounts for the single-largest slice of economic activity -- will feel more confident and more inclined to spend in the months ahead, thus helping the recovery. Other recent barometers have shown some improvements in manufacturing, housing and construction activity. The government reported last week that the economy shrank at a pace of just 1 percent from April-to-June, another sign the recession is winding down. Many analysts predict the economy could start growing again in the current July-to-September quarter. And, the Fed recently observed that the economy is finally showing signs of stabilizing in some regions of the country -- especially in parts of the Northeast and Midwest -- bolstering hopes of a broader-based recovery this year. Even with the improvements, it will take time for the jobs market to fully heal. The Federal Reserve has predicted the unemployment rate is likely to top 10 percent this year. Some Fed officials think it could rise as high as 10.6 percent in 2010. The post-World War II high was 10.8 percent at the end of 1982, when the country suffered through a severe recession. An elevated unemployment rate could become a political liability for President Barack Obama when congressional elections are held next year. The last time the unemployment rate topped 10 percent, the party of the president -- then Ronald Reagan's Republican Party -- lost 26 House seats in the midterm elections in 1982. Obama has urged Americans to be patient and give time for his $787 billion stimulus package of tax cuts and increased government spending to take hold. Most of the money will flow in 2010. When the economy is healthy, employers add a net total of around 125,000 jobs a month just to keep the unemployment rate stable. To get the jobless rate down to a more normal 5 percent range, it would take stronger job growth -- of at least 200,000 jobs a month. Economists say it might take until 2013 to drive down the unemployment rate to 5 percent.
As reported by
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Post a comment... JUN 24All the Ways Your Laziness Is Costing You Money by Daniel Adler A collection of financial improvements you can make right now - minimal sweat required. Brewer, abolitionist, social reformer and English Member of Parliament Sir Thomas Buxton said, "Laziness grows on people; it begins in cobwebs and ends in iron chains." Poet and philosopher Samuel Taylor Coleridge had an even darker take on the avoidance of work: "The love of indolence is universal, or next to it." Indeed, laziness has been a scourge of humanity for millennia. In Christian mythology, sloth was one of the seven deadly sins, and the price was heavy. Transgressors were fed to the snake pits in Hell.
Better yet, why not just fleece them? These days countless businesses make hay by taking advantage of our collective indolence - everything from not bothering to spend 15 minutes surfing the Web for a better rate on a savings account to not taking half as much time to mail a $50 rebate on a new laptop computer. Forbes asked a slew of experts, in fields ranging from personal finance to health care, to estimate the not-so-hidden costs or our laziness, and to demonstrate what little you can do - because in many cases that's all it takes - to turn things around. Here are some highlights. Not Choosing the Best Rate on Your Savings Account Many Americans are content to keep their money in traditional brick-and-mortar banks. Put less charitably, they're too lazy to root around for a better interest rate offered by online institutions. According to Justin Pritchard, banking expert at About.com, the best annual percentage rate you'll get at a traditional bank is about 0.75%, while Internet banks such as EmigrantDirect and Doral Bank Direct can easily offer a 2.25% APY. May not sound like much, but it all adds up. On a $100,000 principal, compounded monthly for five years, the higher interest rate yields an additional $8,000. A quick search for a good rate at an FDIC-insured bank plus the few clicks to set up an account can take under 30 minutes. "People are creatures of habit," said Pritchard. "If their money is somewhere, and they're busy doing other things, they don't necessarily try to do better. But if people have a decent chunk of change, it's worth it."
Not Opening a Retirement Fund (As Soon As Possible) Twenty-somethings aren't necessarily in touch with their own mortality. Take a hint: Old age comes quick, and you'll need a serious retirement stash if you want to ride it out in any kind of style. Too bad for those who don't bother to set up a 401(k) account - one that can automatically draw a certain percentage from each pay check without you having to lift a finger. Consider: If a 40-year-old starts saving $5,000 annually at 6% interest per year (a conservative assumption based on historical returns for the stock market), he would have $291,000 at age 65; if that same person started saving that much 15 years earlier, at 25, he would have amassed $821,000, three times as much. How to set a up 401(k)? Simply call your company's human resources department - you'll be enrolled in a matter of minutes. Not Sending in Rebate Offers Department and electronics stores often advertise goods at post-rebate prices, assuming most customers will be too lazy to mail in the rebate, which could save them up to 10% on big-ticket items such as dishwashers, refrigerators and computers. At Staples, a $650 laptop from Hewlett-Packard carries a $50 rebate. Don't let them get away with this. Filling out and mailing the rebate takes all of 15 minutes. Says Tod Marks, senior project editor at Consumer Reports: "Anyone who walks away from rebates is giving money away." Not Paying Attention to 0% Financing Deadlines Ah, the Siren song of "no money down." Many stores offer 0% financing for a length of time, allowing customers to pay in installments without incurring interest charges. Great deal, right? Only if you remember (or bother) to pay in full by the end of the no-interest grace period. Fall short and the often very steep interest rate that kicks in applies not to the remainder of the debt, but the entire original purchase price. Example: Electronics retailer P.C. Richard & Son sells a $3,200 television with 0% financing for 18 months. Say you've paid $3,100 at the 18-month mark; one day later, you will owe an additional $800 - the $100 you hadn't paid yet, plus the $700 in interest (22% of the entire $3,200). Not getting burned is as simple as reading your statement and sending in the bill. Waiting Until the Last Minute to Send Mail Overnight mail isn't just for cubicle warriors - it's also for procrastinating sons and daughters who forgot about Father's Day. Drag your feet and you'll pay a premium for speed. Overnight delivery at a U.S. Post Office starts at $13.05 for items up to half a pound and within two "distance zones" (there are eight zones in all) - prices escalate quickly based on distance and weight. Say you're sending a four-pound care package four zones away; in that case, the shipping fee jumps to $33.75. Meanwhile, regular delivery, which takes two to eight days, starts at $4.95. Saving that money takes no extra time, just a little extra planning ahead. Not Taking Advantage of Corporate Wellness Incentives With health care costs rocketing through the roof, more corporations are willing to pay you to be healthy - or even just to try. According to Fiona Gathright, president of Wellness Corporate Solutions, a wellness consultancy, plenty of companies are happy to pay employees $50 to $150 per year to take a 30-minute health-risk assessment and biometric screening to determine health risk factors. (Talk about money for nothing.) Tack on a lunch-hour health seminar and you could pocket another few hundred clams. "[Encouraging participation in] wellness programs is common, and becoming more common," says Gathright. "Because companies are trying to control health care costs, they will encourage people to change their behavior." Not Bothering to Negotiate a Better Deal "It never hurts to ask" isn't just a bromide - it's a serious penny-pincher. According to a recent poll by the Consumer Reports National Research Center, roughly 80% of haggling Americans were able to win better deals on hotel rates, cellphone bills and clothing; more than 70% paid less for electronics and furniture. Landlords? They're ready to negotiate too, especially in this nasty real estate market. What are you waiting for? Oversleeping (But Not for Reasons You May Think) Lying in bed too long is laziness defined, but the price you pay is not as obvious. Sleeping the day away can lead to insomnia, and that can be costly to treat. "This can be fairly common when people don't have a regular schedule, if they're on vacation, or unemployed," says Dr. Michael J. Breus, WebMD's sleep expert. "They pull themselves out of an overall routine, and that leads to a form of sleeplessness." The insomnia borne of oversleep can lead to obstructive sleep apnea and hypertension; co-payments for related medications run $30 to $40 per month. Sleep aids like Tylenol PM run another $15 a month. And being up all night in the Internet age can lead to torching an extra few dollars on books at Amazon.com or downloads at Apple's iTunes store. Who knows? When you get back to sleep, you may dream of snake pits. Copyrighted, Forbes.com. All rights reserved Post a comment... JUN 16EXIT REALTY'S FINEST VISIT THE HOUSTON REGION! Update: FHA backs away from no down payment loans
After announcing a plan that would have allowed first time homebuyers to use a special tax credit to cover the 3.5% required down payment on an FHA-insured loan, the Dept. of Housing and Urban Development apparently had second thoughts. Late last week HUD released a newly remodeled plan that does not allow the first-time homebuyer tax credit to be used for the down payment. Seems there was plenty of push back that allowing borrowers to land a mortgage without any "skin in the game" was not exactly a great idea. What's amazing is that the proposal even got floated in the first place; the notion that taxpayer dollars would have been on the line for mortgages that required no down payment was a bit of a head spinner. What HUD finally settled on was that lenders can essentially advance qualified home buyers the value of their tax credit today to reduce their mortgage costs, but only if the borrower can bring a minimum 3.5% down payment to the table. Approved uses of the tax credit include paying for closing costs, making a larger down payment (to thereby reduce the monthly mortgage cost) or buying down the interest rate by paying points. The real value of the new rule is that eligible homebuyers can now "use" their tax credit today, rather than having to wait to recoup the value of the credit when they file their 2009 federal tax return in early 2010. Basically, if you meet the eligibility rules you can now get a maximum of $8,000 advanced to you to buy a home. Single homebuyers with income below $75,000 and married couples who file a joint return with income below $150,000 are eligible for the max tax credit. (A limited credit is available for individuals with income between $75,000-$95,000 and joint filers with income between $150,000 and $170,000; the credit completely phases out above those income levels.) Anyone who has not owned a primary residence for three years is considered a first-timer but to grab the tax credit you must close on an FHA-insured loan before December 1 of this year. - Carla Fried
To Dream the American Dream
The dream is alive and well during Homeownership Month
Is it still reasonable to dream the dream of home ownership? Although the white picket fence comes in many forms nowadays, from condos to co-ops, from townhomes to bungalows, the dream is still a realistic one for American families this June, Homeownership Month. "It's not just a platitude to say that this is the best time in years to buy real estate," says Tami Bonnell, President of the US Organization of EXIT Realty Corp. International. "The National Association of Homebuilders recently announced that housing affordability has jumped to its highest point in the past 18 years and the National Association of REALTORS reported that existing home sales rose in April." Industry insiders know this is good news but it has left consumers with many questions. In order to address those questions, Ms Bonnell will be holding two free, half-hour webinars for the general public on Wednesday, June 24th at 4:00 p.m. and 7:00 p.m. ET. There will be an opportunity for attendees to ask questions during the sessions. Now anyone can ask an objective, experienced real estate executive for the real scoop - and get a straight answer. This is a must-attend event for anyone who is thinking of buying or selling real estate or wondering about where the market is going. To participate, visit www.exitrealty.com and click on either the 4:00 link or 7:00 link to register. You will need an internet connection and speakers to participate. Tami Bonnell's real estate career spans more than 25 years during which she was instrumental in building three major brands. Ms Bonnell has been featured several times in major industry publications, including Real Estate Magazine, Bay State REALTOR and Frog Pond Communications. She is a much sought-after international speaker, addressing thousands at events such as RISMedia's Leadership Conference in NY, Inman News Conference in San Francisco and the Top 500 Power Brokers at The National Association of REALTORS Convention. Since becoming President of the US Organization for EXIT Realty Corp. International, her focus is on growth and profitability for Regions, Brokers and Agents. Ms Bonnell is available for interviews. http://exitrealtypress.blogspot.com/2009/06/to-dream-american-dream.htmlPost a comment... JUN 2EXIT IS GROWING...REALLY! EXIT REALTY GROUP is on the verge to be Top 100 Listing Broker in HAR/MLS (OVER ALL-ALL AREAS) out of over 2600 FIRMS! (data from HAR ACTIVE LISTINGS) {05/28/2009}. This is in addition to 14 In-House PENDINGS!
WOW......25 STUDENTS EXCELLENT RESULTS>>>>GREAT LEARNING CAMP, ANOTHER SUCCESS STORY....THANKS KEVIN....YOU ROCK>>>> DECICATED TO AGENT DEVELOPEMENT
Isa
EXIT REALTY GROUP |The Woodlands / Magnolia / Tomball / Spring | TX |
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Isa Alwazzan EXiT REALTY GROUP Address: The Woodlands, Magnolia, Spring & Tomball Office Phone: 281419EXIT Cell Phone: (832) 473-8819 ;) Links;) Archives
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About a year ago, The 
Markets are discounting mechanisms meaning that traders anticipate how potent the Fed can be. The Fed's just about out of bullets and MBS traders know it. Let me try to give you an example of what the Fed did by recanting the explanation I gave, to a 
Maggie, knowing that I only had 1-2 cups left, knew she could afford to get a bit wet in her dart towards 6%. She faked me by jumping like 
EXIT Realty is proud to have two exceptional individuals named as finalists for the prestigious 
1. Your photos are unimpressive. The vast majority of home buyers start their search for a home on the Internet, your house had better look great in print. Not just nice... downright fabulous. Today we are considering internet views as a 'virtual showing'... if your house gets past that, then they might (just might) make an appointment to see it in person... We consider that your SECOND showing. Today's buyers are expecting good quality photos (and lots of them... just 1 shot from the street won't cut it!), a virtual tour, maybe even a floor plan, if applicable.
market?
5. Your listing is tired and stale on the market. Okay... yes, you overpriced your home initially when you first came on the market 2 years ago. But since then you have reduced your price almost monthly... constantly chasing the market down.... Now, finally you're truly priced where you should be... but your listing is tired and stale. Everyone looking for your type of property (ie: 3br/1.1 bath) in your area has already seen it, sometimes twice... and they remember that there was "something" about it that they didn't like... but what they don't remember is... what they didn't like.... was the price. Time to take the listing off market. Let it cool off (3-6 months), and bring it back on fresh in the Spring. Yeah, you'll have 6 mos. worth of holding-costs... but you'll more than make up for it in your purchase price.
(Pompano Beach, FL)—Even though the economy has been in a slump, savvy investors are still pursuing the “American Dream” of homeownership, and that still makes the role of the real estate agent a very relevant one. To better understand the opportunities in this field and how real estate agents play an invaluable role in the process, 
You are receiving a complimentary subscription to YOU Magazine as a result of your ongoing business relationship with Mark Chaney. While beneficial to a wide audience, this information is also commercial in nature and it may contain advertising materials.
If your kids are taking on seasonal work this summer, good news. Despite the tough economy and an unemployment rate reaching a 26-year high in June, the Federal minimum wage was increased on July 24th from $6.55 to $7.25 an hour. 
Many parents who work or are looking for work this summer must arrange for care of their children under 13 years of age during the school break. With this in mind, here are a few facts about a tax credit available for child care expenses straight from the IRS. 
According to Trends in College Pricing 2007, published by the College Board, room and board costs at private schools average $8,595 for the 2007-2008 school year, up 5 percent from the previous year. For public schools, the average cost for room and board rose 5.3 percent to $7,404 for the 2007-2008 school year. And this is nothing compared to off-campus living expenses, if your children aren't staying with you at home. 
With corporations making an effort to be more visible in the social media space, the term social media résumé suddenly has a new significance for employees and potential employees. With so much competition for each job opening, employees need to be careful about how they present themselves online. 
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