ceo-stories

As the health crisis started making its way throughout our country earlier this spring, sellers have been cautious about putting their homes on the market states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. This hesitation stemmed primarily from fear of the spread of the coronavirus, and understandably so. This abundant caution has greatly impacted the number of homes for sale and slowed the pace of a typically busy spring real estate season. Mark Fleming,  Chief Economist  at  First American   notes : “As more homeowners are reluctant to list their homes for sale amid the pandemic, the supply of homes available to potential home buyers continues to dwindle.” With many states beginning a phased approach to reopening,  virtual  best practices and health and safety  guidelines  for the industry are in place to increase the comfort level of buyers and sellers. What we see today, though, is that sellers are still making a very...

On Monday, the  National Bureau of Economic Research  (NBER)  announced  that the U.S. economy is officially in a recession. This did not come as a surprise to many, as the  Bureau  defines a recession this way: “A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Between trough and peak, the economy is in an expansion.” Everyone realizes that the pandemic shut down the country earlier this year, causing a “significant decline in economic activity.” Though not surprising, headlines announcing the country is in a recession will cause consumers to remember the devastating impact the last recession had on the housing market just over a decade ago. The real estate market, however, is in a totally different position than it was then. As Mark Fleming...

On Monday, the  National Bureau of Economic Research  (NBER)  announced  that the U.S. economy is officially in a recession. This did not come as a surprise to many, as the  Bureau  defines a recession this way: “A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Between trough and peak, the economy is in an expansion.” Everyone realizes that the pandemic shut down the country earlier this year, causing a “significant decline in economic activity.” Though not surprising, headlines announcing the country is in a recession will cause consumers to remember the devastating impact the last recession had on the housing market just over a decade ago. The real estate market, however, is in a totally different position than it was then. As Mark Fleming...

With more U.S. states reopening for business this summer, and as people start to return to work, we can expect the economy to begin improving states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. Most expert forecasts indicate this economic recovery will start to happen in the second half of this  year . As we get back to work and the financial landscape of the country begins to turn around, many experts also agree that real estate has the potential to lead the way in the recovery process. According to  Ivy Zelman  of  Zelman & Associates:  “Housing will fare better than expected during this severe downturn.” In addition, CNBC  notes : “Mortgage demand from home buyers shows unexpectedly strong and quick recovery…The quick recovery has surprised most forecasters.” Robert Dietz,  Chief Economist  and  Senior Vice President for Economics and Housing Policy  of the  National Association of Home Builders ...

Last Friday, the  U.S. Bureau of Labor Statistics  released its May  Employment Situation Summary .  Leading up to the release, most experts predicted the unemployment rate would jump up to approximately 20% from the 14.7% rate announced last month. The experts were shocked. The  Wall Street Journal  put it this  way : “The May U.S. jobless rate fell to 13.3% and employers added 2.5 million jobs, blowing Wall Street expectations out of the water: Economists had forecast a loss of 8.3 million jobs and a 19.5% unemployment rate.” In addition, CNBC  revealed : “The May gain was by far the biggest one-month jobs surge in U.S. history since at least 1939.” Here are some of the job gains by sector: Food Service and Bartenders – 1,400,000 Construction – 464,000 Education and Health Services – 424,000 Retail – 368,000 Other Services – 272,000 Manufacturing – 225,000 Professional Services – 127,000 There’s still a long way to go before the economy fully re...

Over your work career, we will be offered opportunities. As we develop our tool kit of skills, as well as a network of people, we will develop a reputation. A few keys in finding our way into the best opportunities include: asking questions and making decisions. Being willing to always ask questions is critical: developing the right questions, essential in being in better roles. This is a learned skill. The other, making decisions, really means making the best decision for you/family. When you have all of the critical puzzle pieces in place, making good decisions is easier. Making better decisions will help put you in the best spots while asking the right questions will help you gain the assets good jobs provide. Work on these “muscles”, as they can be critical factors in the packages you earn and the happiness you feel. (my opinions only) Thank you