Housing Market Positioned to Bring Back the Economy

posted by: George Sykes, Broker, Worth Clark Realty on Thursday May 21, 2020

All eyes are on the American economy. As it goes, so does the world economy. With states beginning to reopen, the question becomes: which sectors of the economy will drive its recovery? There seems to be a growing consensus that the housing market is positioned to be that driving force, the tailwind that is necessary. Some may question that assertion as they look back on the last recession in 2008 when housing was the anchor to the economy – holding it back from sailing forward. But even then, the overall economy did not begin to recover until the real estate market started to regain its strength. This time, the housing market was in great shape when the virus hit. As Mark Fleming, Chief Economist of First American, recently explained: (Article Continues)

Why the Housing Market Is a Powerful Economic Driver

posted by: George Sykes, Broker, Worth Clark Realty on Thursday April 30, 2020

With businesses starting to slowly open back up again in some parts of the country, it’s important to understand how housing can have a major impact on the recovery of the U.S. economy. As we’ve mentioned before, buying a home is a driving financial force in this process. Today, many analysts believe one of the first things we’ll be able to safely bring back is the home building sector, creating more jobs and impacting local neighborhoods in a big way. According to Robert Dietz in The Eye on Housing:

The Pain of Unemployment: It Will Be Deep, But Not for Long

posted by: George Sykes, Broker, Worth Clark Realty on Tuesday April 21, 2020

There are two crises in this country right now: a health crisis that has forced everyone into their homes and a financial crisis caused by our inability to move around as we normally would. Over 20 million people in the U.S. became instantly unemployed when it was determined that the only way to defeat this horrific virus was to shut down businesses across the nation. One second a person was gainfully employed, a switch was turned, and then the room went dark on their livelihood.

The financial pain so many families are facing right now is deep.

How deep will the pain cut?

Major institutions are forecasting unemployment rates last seen during the Great Depression. Here are a few projections:

Today’s Homebuyers Want Lower Prices. Sellers Disagree.

posted by: George Sykes, Broker, Worth Clark Realty on Friday April 17, 2020

The uncertainty the world faces today due to the COVID-19 pandemic is causing so many things to change. The way we interact, the way we do business, even the way we buy and sell real estate is changing. This is a moment in time that’s even sparking some buyers to search for a better deal on a home. Sellers, however, aren’t offering a discount these days; they’re holding steady on price.

According to the most recent NAR Flash Survey (a survey of real estate agents from across the country), agents were asked the following two questions:

Think This Is a Housing Crisis? Think Again

posted by: George Sykes, Broker, Worth Clark Realty on Wednesday April 15, 2020

With all of the unanswered questions caused by COVID-19 and the economic slowdown we’re experiencing across the country today, many are asking if the housing market is in trouble. For those who remember 2008, it’s logical to ask that question.

Many of us experienced financial hardships, lost homes, and were out of work during the Great Recession – the recession that started with a housing and mortgage crisis. Today, we face a very different challenge: an external health crisis that has caused a pause in much of the economy and a major shutdown of many parts of the country.

Let’s look at five things we know about today’s housing market that were different in 2008:

What You Can Do to Get Your Troy House Ready to Sell [INFOGRAPHIC]

posted by: George Sykes, Broker, Worth Clark Realty on Monday April 13, 2020

Some Highlights:

How Technology Is Enabling the Real Estate Process in Troy

posted by: George Sykes, Broker, Worth Clark Realty on Wednesday April 8, 2020

Today’s everyday reality is different than it looked just a few weeks ago. We’re learning how to do a lot of things in new ways, from how we work remotely to how we engage with our friends and neighbors. Almost everything right now is shifting to a virtual format. One of the big changes we’re adapting to is the revisions to the common real estate transaction, which all vary by state and locality. Technology, however, is making it possible for many of us to continue on the quest for homeownership, an essential need for all.

Here’s a look at some of the elements of the process that are changing (at least in the near-term), due to stay-at-home orders and social distancing, and what you may need to know about each one if you’re thinking of buying or selling a home sooner rather than later:

5 Was to Help:

Please Help Hunter Engineering

posted by: Wildfire Internet on Tuesday April 7, 2020

Hunter Engineering has teamed up with Washington University, St. Louis, to design powered air purifying respirator (PAPR) devices for emergency medical professionals treating COVID-19 patients.

(Photo is of first device in use at Missouri Baptist Hospital.)

You may be able to HELP, with the one critical part that is in in short supply!
If you have a CPAP machine that you no longer need

The Housing Market Is Positioned to Help the Economy Recover [INFOGRAPHIC]

posted by: George Sykes, Broker, Worth Clark Realty on Friday April 3, 2020

Some Highlights:

We Are Hiring

posted by: Envisioning Green on Tuesday March 31, 2020

Job Posting: 50039

We're growing and looking for the best! Do you want a steady position with a growing company? Do you want top industry pay PLUS benefits? Do you have general construction, landscape, or hardscape experience? We'd love to hear from you!

The Economic Impact of Buying a Home

posted by: George Sykes, Broker, Worth Clark Realty on Tuesday March 31, 2020

We’re in a changing real estate market, and life, in general, is changing too – from how we grocery shop and meal prep to the ways we can interact with our friends and neighbors. Even practices for engaging with agents, lenders, and all of the players involved in a real estate transaction are changing to a virtual format. What isn’t changing, however, is one key thing that can drive the local economy: buying a home.

We’re all being impacted in different ways by the effects of the coronavirus. If you’re in a position to buy a home today, know that you’re a major economic force in your neighborhood. And while we all wait patiently for the current pandemic to pass, there are a lot of things you can do in the meantime to keep your home search on track.

Every year the National Association of Realtors (NAR) shares a report that notes the full economic impact of home sales. This report summarizes:

Is Now a Good Time to Refinance My Troy Home?

posted by: George Sykes, Broker, Worth Clark Realty on Wednesday March 25, 2020

With interest rates hitting all-time lows over the past few weeks, many homeowners are opting to refinance. To decide if refinancing your home is the best option for you and your family, start by asking yourself these questions:

Why do you want to refinance?

There are many reasons to refinance, but here are three of the most common ones:

Why the Stock Market Correction Probably Won't Impact Troy Home Values

posted by: George Sykes, Broker, Worth Clark Realty on Tuesday March 24, 2020

With the housing crash of 2006-2008 still visible in the rear-view mirror, many are concerned the current correction in the stock market is a sign that home values are also about to tumble. What's taking place today, however, is nothing like what happened the last time. The S&P 500 did fall by over fifty percent from October 2007 to March 2009, and home values did depreciate in 2007, 2008, and 2009 – but that was because that economic slowdown was mainly caused by a collapsing real estate market and a meltdown in the mortgage market.

Confidence Is the Key to Success for Young Homebuyers

posted by: George Sykes, Broker, Worth Clark Realty on Wednesday March 11, 2020

Buying your first home can seem overwhelming. Thankfully, there’s a lot of great information out there to help you feel more confident as you learn about the process. For those in younger generations who aspire to buy, here are three things to consider sooner rather than later in your journey:

Equity Gain Growing in Nearly Every State including Illinois

posted by: George Sykes, Broker, Worth Clark Realty on Tuesday March 10, 2020

Rising home prices have been in the news a lot lately, and much of the focus is on whether they're accelerating too quickly and how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact they have on a homeowner's equity position.

Retirement at Any Decade

posted by: Busey Bank on Friday February 21, 2020

Planning your dream retirement looks different in each stage of life, but one principle remains the same across generations—save early and often. The reality is more than 43 percent of workers are not saving for retirement, and more than half have saved less than $25,000, according to Employee Benefit Research Institute.

It’s never too soon to start preparing for retirement, and it’s never too late to make retirement planning a priority. Consistent, modest savings can add up over time. Whether you’re months or what feels like a millennia from retirement, there are effective steps you can take now to reach financial readiness. Having a plan and knowing your steps puts your goal within reach.

5 Steps to Tame Financial Stress

posted by: Busey Bank on Wednesday February 5, 2020

Whether you're drowning in debt or having a hard time paying bills, financial difficulty can be stressful—and you're not alone in this struggle.

A recent report by the American Psychological Association reveals that 72% of adults feel stressed about money at least some of the time, and 22% say they experience extreme amounts of stress. Financial stress can be responsible for multiple health problems—including fatigue, headaches, depression, high blood pressure and heart disease.

So how do you tame financial stress? Here are five simple steps you can take to reduce or eliminate some of the stress in your life:

How Do You Think People Found Their New Home in 2019?

posted by: George Sykes, Broker, Worth Clark Realty on Monday February 3, 2020

There is certainly a constant in life and that is, "things change". Notice not only how many home searches started in the Internet, but look at the percentage of mobile views. Very important to make sure your website is mobile ready.

Financially Fit for the New Year

posted by: Busey Bank on Wednesday January 1, 2020

Did you resolve to get in shape this year? Getting—and staying—in shape requires planning, commitment and an acute focus on your long-term goals. Just as a personal trainer helps you hit fitness targets, Busey Wealth Management can help you achieve your financial goals in 2020.

Here are a few issues you may want to consider in the new year:

Tire Technicians Wanted

posted by: D&D Tire Service on Friday October 18, 2019

Job Posting: 50037

D&D Tire Service is seeking motivated individuals to join our team!