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Well, that break didn’t last long.

The Federal Reserve opted to resume rate hikes at Wednesday’s meeting by a quarter of a percentage point, as expected. Last month, the central bank took a brief hiatus from increasing the federal funds rate after 10 consecutive rate hikes beginning in March 2022. The federal funds rate range is now 5.25% to 5.50% — a more than 22-year high.

Fed Chair Jerome Powell said during a news conference Wednesday that last meeting’s pause and this meeting’s hike do not signal the start of a pattern to increase rates at every other meeting. Between now and the Sept. 19-20 meeting, he said, the Fed will look closely at five upcoming reports, all from the Bureau of Labor Statistics: the employment cost index report due Friday, two jobs reports and two consumer price index (CPI) reports.

Fed continues its pursuit of 2% inflation

The CPI is used as a proxy for inflation. The June CPI report released July 12 showed inflation rose 0.2% in June, up 3% from the same month a year ago — it was the lowest level since March 2021. The report came in better than expected, but it’s only one report, Powell said.

It’s true that disinflation has begun without any real costs to the labor market, but Powell said he wouldn’t use the term “optimistic” to describe this situation. Instead, he said current conditions indicate “there’s a pathway” to a soft landing. However, the Fed is no longer anticipating a recession, Powell added.

Powell noted that the unemployment rate of 3.6% is the same as in March 2022, when the Fed first began increasing the interest rate. “It’s not that we’re aiming to raise unemployment,” Powell said. But he said history suggests that, “when central banks go in and slow the economy to bring down inflation, the result tends to be some softening in labor market conditions. And so that is still the likely outcome here.”

The worst outcome, Powell said, would be to not deal with inflation now. “Whatever the short-term cost of getting inflation under control, the longer-term social costs of failing to do so are greater,” he said. “The historical record is very, very clear on that.”

Powell added that if inflation is not brought down, it becomes volatile, which interferes with people’s lives and economic activity.

The Fed chair was ambivalent about future hikes, saying the central bank might raise funds at the September meeting if the data warrants, but it’s also possible it could hold steady.

Powell said the Fed is approaching a point where it must balance the risk of doing too much with the risk of doing too little. “As our stance has become more restrictive and inflation moderates, we do, increasingly, face that risk,” he said.

What happens next?

Much like the Fed, economists are also now curbing recession expectations for the coming year. In a July 15 survey by The Wall Street Journal, the 69 economists polled estimated that there was a 54% chance of an economic downturn in the next year. The last two estimates from previous WSJ surveys were 61%.

Meanwhile, in a July 19 survey by Goldman Sachs, its economists estimated there was a 20% probability of a recession over the next 12 months, down from 25%. Goldman Sachs economists also collectively projected that the rate hikes during the Fed’s July meeting would be the last for this cycle.

Photo by Alex Wong/Getty Images News via Getty Images

Source: nerdwallet.com

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Medicare is the United States’ federally administered health care program.

The program was established in 1965 for the purpose of paying certain health care expenses for people age 65 and over, as well as for other select individuals, such as those who have end stage renal disease.

When originally established, there were only two parts. These were Part A for hospitalization coverage, and Part B for doctors’ services. Over time, the Medicare program has been expanded to offer additional coverage and choices for its enrollees.

We understand that any type of insurance coverage, from the best car insurance companies, best life insurance coverage, or best burial insurance for seniors, can be quite confusing. Remember, we are here to help!

How Coverage Works

The Medicare program today is divided into four parts, and each of these covers a different area. These parts include:

  • Part A – Hospital Coverage. Part A coverage will help an enrollee pay for inpatient care in a hospital or in a skilled nursing home facility. It also covers some types of home health care, as well as some hospice care. In most cases, there is no cost for participating in Part A.
  • Part B – Medical Coverage / Doctors’ Care. Part B helps to pay for doctors’ services, as well as for a variety of other medical services and supplies not covered in Part A. Those who are enrolled in Part B will be required to pay a monthly premium. In 2015, most people pay a premium of $104.90 per month. This can vary, however, based upon the individual’s income and on whether they file their tax return jointly with a spouse or as a single individual.  This article goes in depth about the  income limits and fees that high earners -“Medicare IRMAA brackets“- may have to pay regarding Part B and Part D coverage.
  • Part C – Medicare Advantage / Managed Care. Part C is also referred to as Medicare Advantage. It provides a managed care approach to delivering Medicare-covered services, such as Health Maintenance Organizations (HMOs) and Preferred Provider Organizations (PPOs). Those who are eligible for Parts A and B may alternatively choose to receive all of their services through a Medicare Advantage provider organization under Part C. The premium one pays for Part C will depend upon the plan that is chosen, as well as on the enrollee’s geographic location. You can learn more about this coverage HERE.
  • Part D – Prescription Drug Coverage. Part D helps to pay for prescription drugs doctors prescribe for the treatment of a patient. The premium charged for a Part D policy will depend upon the prescriptions you are taking, and thus, the actual plan that is chosen.

Recipients of Medicare, also referred to as beneficiaries, are able to choose coverage via the Original plan – which is actually Parts A and B – or they may choose Part C – which is Medicare Advantage.

Who Qualifies?

In order to be eligible, an individual must have lived in the United States for at least 5 continuous years, and also be a permanent resident of the U.S.

In addition, qualified recipients of benefits must be at least 65 years of age or over, or have a specific type of qualifying disability.

For a person to be considered permanently disabled, they must be entitled to receive benefits from Social Security, and they must have been receiving those benefits for a minimum of two years.

An individual who is diagnosed with end stage renal disease and who also requires kidney dialysis or a kidney transplant may also be considered eligible for benefits from the program.

With the high costs of health care it makes sense for those eligible for Medicare to take advantage of this government administered health care program.

Adults Over 65

Most adults in the United States are eligible for Medicare when they turn 65. Individuals must be U.S. citizens or permanent residents and enroll in the Medicare program to qualify.

Individuals who are already receiving Social Security benefits will be automatically enrolled in the Medicare program. Approximately three months before their 65th birthday, an enrollment package will be sent and must be completed to activate coverage.

Medicare Part A, which covers hospitalizations, requires no payment. However, adding Part B – which is for doctors visits, outpatient procedures, or additional coverages, such as prescription drug coverage, does cost money. The premium is determined based on income level. So, individuals must decide what plan is best for them when enrolling and what they can afford to have.

Individuals with Disabilities

Medicare coverage is also available to individuals with disabilities regardless of their age. Once an individual has been collecting social security disability payments for twenty-four months, they become eligible for Medicare during the 25th month.

An enrollment package will be sent a few months before a person becomes eligible for Medicare coverage. If a person with Social Security disability does not receive the enrollment package, they should contact their local social security office to request a packet.

Like an individual who is over age 65, disabled persons who have been getting Social Security disability payments are automatically eligible for Medicare. There is no reason to decline coverage, as Medicare Part A costs nothing and covers hospital care and nursing facility care.

However, if a disabled individual would like, they can decline Medicare Part B coverage, which would require premium payments. There is a card that comes with the enrollment package that the individual can mail back declining Part B coverage.

Who Does NOT Qualify for Medicare

People who are not already receiving Social Security benefits will need to contact their local Social Security office to apply for Medicare coverage. This should be done three months before the individual’s 65th birthday.

The enrollment period begins in the three months before the month of the 65th birthday and ends three months after. If one enrolls during this time frame, there is no cost for enrollment and coverage should begin at the start of the 65th birthday month or shortly thereafter (if one applies after their birth date).

If, however, one does not apply during that enrollment period, then fees apply. So, it is important to apply on time, and as close to the three month prior date as possible. This will ensure everything is done correctly and coverage starts at the beginning of the individual’s birth month.

How to Enroll

To begin receiving benefits, an eligible individual must enroll through the office of Social Security. There is only one exception to this rule, in that those who are already receiving benefits through Social Security or the Railroad Retirement Board are automatically enrolled when they turn age 65.

All other potential recipients must submit an application for coverage during the open enrollment period. This period of time begins three months prior to the applicant’s 65th birthday and it ends seven months after.

Those who do not enroll in Part A and/or Part B when they are originally eligible are allowed to alternatively enroll between January 1 and March 31 each year. For those who do, their coverage will begin on the following July 1.

Medicare is Not Medicaid

Because their names sound so similar, people can oftentimes confuse Medicare with Medicaid. These two programs, however, are not the same. Medicaid is a joint state and federal program that provides medical assistance to those who meet very specific low income requirements.

In addition to medical necessity, a person must be considered at his or her state’s poverty level in terms of income and assets for Medicaid qualification purposes.

Through the Social Security Act, those who have income and resources not considered to be sufficient enough to meet the cost of their needed medical care, as well as certain long-term care needs, can qualify for Medicaid’s benefits. Therefore, Medicaid is considered a “means” tested program.

When determining which assets “count” toward qualifying for Medicaid, funds and property are divided into three different classes.

These include the following:

  • Countable Assets – Countable assets include any personal assets that the individual either owns or controls. These funds are required by Medicaid to be spent on the applicant’s care before he or she will be able to qualify for Medicaid’s benefits. Some examples of countable assets may include cash, stocks and bonds, and deferred annuities (provided that the annuities have already been annuitized).
  • Non-Countable Assets – Even though non-countable assets are still acknowledged by Medicaid, the particular types of assets are not necessarily utilized when making a determination regarding an applicant’s eligibility for Medicaid benefits. Non-countable assets can include household belongings, such as furniture, appliances, term life insurance policies, a burial plot owned by the Medicaid applicant, and the applicant’s primary residence – as long as the value of the home does not exceed a certain amount.
  • Inaccessible Assets – Assets that are inaccessible are those considered to be resources that would have had to be spent on a person’s care; however, the assets have instead been transferred to another individual or into a trust. This transfer has therefore made the asset inaccessible. With inaccessible assets, Medicaid has the right to review the applicant’s financial records at the time that the application for benefits is made. In most cases, if assets were transferred within a certain amount of time prior to a person’s application, Medicaid may deem the individual as being disqualified from receiving benefits – at least for a certain period of time.

What is Supplemental Insurance and What Does It Cover?

Medicare supplement insurance plans are a type of insurance coverage supplemental to what Medicare covers. This type of coverage can pay for some – or in some cases, all of the copayments and/or deductibles so that the enrollee does not need to pay such expenses out-of-pocket.

Medigap insurance is specifically designed to supplement Medicare’s benefits, and it is regulated by both federal and state law. A Medigap policy must be clearly identified as being Medicare Supplement insurance, and it must provide benefits that help to fill in the gaps in Medicare’s coverage.

Although the benefits are identical for all supplement plans of the same letter (i.e., all Plan A policies offer the same coverage options), the premiums may vary from one insurance carrier to another, as well as from one geographic area to another.  There are even three states that do not use the letter system, but have different ways of designating their plans.

What is Medicare Advantage and How Does It Work?

A Medicare Advantage (MA) plan, similar to an HMO or PPO, is type of Medicare plan available to those who are eligible for “Original Medicare”, or Parts A and B. This option is also referred to as Part C. These plans are actually offered by private insurance companies approved by Medicare.

When an individual joins a MA Plan, Medicare pays a fixed amount of their premium every month to the companies that offer these plans. These companies are required to follow strict rules on coverage.

Each of the Advantage Plans are allowed to charge different out-of-pocket costs, and they may also have different rules as to how enrollees can receive their services. For example, some plans may require participants get a referral before going to a specialist. And, these rules may change every year.

MA Plans also have an annual cap on how much participants will pay for their Part A and Part B services throughout the year. This annual, maximum out-of-pocket amount can differ from plan to plan. You can get a full understanding of how MA plans can be a benefit to you HERE.

How to Find the Best Coverage

When seeking Supplemental or Advantage coverage, it is best to work with a company that has access to more than just one insurer.

That way, you can obtain information on numerous different benefits and quotes to see what your options are and what benefits are available to you.

When you’re ready to begin the process, you can use the form on this page and a top independent agent will work with you to get the best policy at the best rates.

Source: goodfinancialcents.com

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Hurricanes can cause extensive damage to homes and entire cities, causing power outages, water shortages, major flooding, and more. And as climate change progresses, disasters will get worse and more frequent, leading to more damage and costly repairs. This will likely be exacerbated as homeowners continue moving to disaster-prone areas at a record rate. 

But what do you do after a hurricane, and how do you protect your home in the future? 

If your home was recently hit by a hurricane, it’s important to start the recovery as soon as possible to avoid further damage and help get your life on track. So, whether you live in a house in Tampa, FL, or an apartment in Corpus Christi, TX, read on for 10 critical steps you need to know after a hurricane hits. 

1. Ensure your safety

The immediate aftermath of a hurricane is often filled with chaos and uncertainty. If you were told to evacuate, only return once you’re given the all-clear. If you sheltered in place, wait for official guidance that the storm has passed. 

Once it’s safe to do so, your primary concern should be to ensure your safety and that of others around you. Inspect your home and surrounding areas and check for hazards such as downed power lines, polluted water, or gas leaks; these are critical dangers that you should immediately report to authorities. If your home has sustained substantial damage, don’t attempt to re-enter and instead find temporary shelter until it’s been deemed safe by professionals. 

2. Contact your insurance company

Once you’re in a safe location, reach out to your homeowners’ insurance provider to report any damage to your house. It’s important to note that standard homeowners’ insurance policies typically do not cover flood damage. Coverage for flood damage requires a separate flood insurance policy, often provided through the National Flood Insurance Program (NFIP). 

Begin the claims process as quickly as you can; the sooner you file your claim, the sooner your recovery can begin. Just remember that wait times may be long after major disasters. When you get in contact, insurance companies will guide you through the required steps. Remember to have your policy number and relevant personal information ready. This isn’t a step to rush, despite the urgency of the situation.

3. Document damage

For insurance and recovery purposes, it’s important to document damage to your home and belongings. Use a camera or your phone to take clear photos and videos, covering all angles of rooms and belongings to ensure that you don’t miss anything. Include both close-ups and wider shots to provide context. 

It’s also essential not to just document the areas with the most visible damage. Cover all areas of your property, including interior rooms, exterior structures, the roof, basement, garage, and outdoor areas, and more. Sometimes, damage might not be apparent right away, but can manifest later on. This comprehensive documentation will prove invaluable when dealing with your insurance company, contractors, and remediation specialists.

Lastly, never throw away an item that was damaged unless it’s an active hazard. If you do, you’re unlikely to get reimbursement for it. 

4. Secure temporary accommodation

If your home is uninhabitable due to extensive damage, it will likely be necessary to secure temporary accommodation for you and your family. Many homeowners’ insurance policies include “Loss of Use” or “Additional Living Expenses” coverage for covered events, which can assist with costs related to temporary housing. You can also reach out to local disaster relief organizations for aid, who often provide temporary shelter during emergencies.

5. Check for utility disruptions

After a hurricane, it’s common for utilities to be disrupted. This includes water, electricity, and gas. Check all these services in your home. If you find that they’re unavailable or not working correctly, contact your utility providers to report these issues. Keep in mind that restoration times can vary depending on the severity of the storm and the extent of damage in your area. In case you smell gas or suspect a gas leak, evacuate your property immediately and inform the gas company. Remember, safety comes first.

6. Begin clean up and salvage

Once you’ve ensured safety and contacted your insurance company, it’s time to start the clean-up process. Before you begin, make sure to wear protective gear to avoid injury while sorting through debris. Salvage what you can, but be mindful of water-logged or mold-prone items, as these can pose health risks if not handled appropriately. It’s crucial to remain patient during this process, as it can be time-consuming and emotionally challenging.

7. Mitigate further damage

To protect your home from additional damage in the immediate hours and days following the hurricane, cover broken windows and holes in your roof with tarps or plywood. Your insurance company may require this effort as part of your policy agreement, and in some cases, they may cover the cost of these temporary fixes. This step is crucial in maintaining the structural integrity of your home and preventing further deterioration.

Make sure to take photos of the damage before you begin any repairs, otherwise your insurance may not cover it. 

8. Hire professional help

Dealing with the aftermath of a hurricane can be overwhelming, so it can be useful to hire professionals to help navigate the recovery process. From helping with insurance to repairing your home, they can dramatically improve your recover. Here are a few professionals to consider contacting: 

  • Public adjusters: Adjusters can advocate for you with insurance companies to ensure you get the claim settlement you deserve. 
  • Structural engineers: These experts can assess the structural integrity of your home after a disaster, checking for unseen damage that could potentially lead to more serious issues down the line.
  • Water and mold remediation specialists: Flooding often accompanies hurricanes. If your home was flooded, you should have a specialist inspect it for mold. These specialists can effectively remove water and mold and treat areas to prevent further mold from developing.
  • Contractors: Disaster recovery contractors can aid in restoring your home to its pre-disaster condition. They can be especially helpful if you’ve made temporary repairs and need something more permanent. 

9. Address emotional wellbeing

It’s crucial to take care of your emotional health, especially following a disaster. Hurricanes can cause substantial emotional distress, which may make it difficult to return to normal life. Consider talking with a mental health professional, counselor, or community support groups that can provide emotional and psychological aid. Reaching out for help is not a sign of weakness – it’s a necessary step towards healing and recovery.

10. Prepare for the future

After you’ve weathered a hurricane, it’s a good time to revisit your preparedness strategy. Make sure your insurance coverage is adequate, and get flood insurance if you don’t already. It’s also essential to create a comprehensive evacuation plan and consider making improvements to prepare your house for future hurricanes. Being prepared can greatly reduce the impact of a future disaster and provide peace of mind.

What to do after a hurricane: final thoughts

In the aftermath of a hurricane, facing the recovery process can feel like an insurmountable task. However, it’s important to remember that there are resources and professionals ready to assist you in navigating this challenging time. While the journey towards recovery may seem daunting, with the right resources and support, you can restore normalcy to your life and home. And remember, never neglect your emotional and mental health during and after a disaster. Reach out to your community, support networks, and professionals if needed to take care of yourself and your loved ones. 

As the world continues to experience the effects of climate change, these measures aren’t just optional, but essential. By being proactive and informed, you can not only navigate recovery but also better prepare yourself for future events.

This guide should not replace professional advice or guidance. Always seek help from certified professionals for issues related to structural integrity and safety, and follow all official guidance before, during, and after a major weather event. 

Source: redfin.com

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Real estate investment is serious business. You need a solid partner to help you manage your property portfolio and aid in making the hard decisions when it comes to development and investment strategies. Accessibility to quality real estate investment trusts can often be an issue, thanks to over-priced REIT platforms with excessive fee schedules. That’s why it’s such a breath of fresh air that Streitwise brings to the real estate investment sector.

What Streitwise Brings to Real Estate Investment

Co-founded by CEO Eliot Bencuya in 2017, SEC-regulated Streitwise has already made some major waves in the real estate investment sector. This Reg A real estate investment platform has delivered 10% annualized quarterly dividends to investors on its properties since inception as of 3/31/19, and they’ve done it by being more inclusive than other REIT platforms. In fact, the secret to stREITwise’s success has been in offering low fees and a simple-to-use online real estate platform that’s open and accessible to real estate investors of every type, from newbies to old pros alike.

All this success had led to some exciting growth for stREITwise in just a short time. The company has just announced a new acquisition to its investment portfolio, a $32 million mixed-use building in Carmel, Indiana, one of the most affluent suburbs of Indianapolis. The 140,000-square foot Allied Solutions Building, already around 87 percent leased, is thought to increase in value over time thanks to its location in the heart of downtown Carmel in the heart of a busy mixed-use development surrounded by restaurants, coffee shops, fast-casual dining, service-oriented retail, and the locally renowned Sun King distillery and food hall right next door.

Success Driven by a Strong Sponsor

stREITwise is driven by strong sponsorship in the form of Tryperion Partners. In operation since 2013, Tryperion has 40 years of combined founder experience with more than $5.4 billion in transactions. With a 33.1 percent IRR on realized investments over three funds as of 12/31/18, stREITwise’s sponsor has provided the framework for this REIT platform to continue to flourish and grow, offering investment opportunities to one and all.

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Tryperion Partners has enabled stREITwise to not just offer minimum investments of just $1000 to interested investors but also to do so at a #1 rated lowest fee structure among real estate crowdfunding sites. These fees are just 3 percent initially and 2 percent ongoing, considerably lower than some other REITs, which can often be as high as 10 to 15 percent. Also, because of Typerion’s strong backing, stREITwise distributes its 10 percent annualized dividends to its investors net of fees, which means those fees are taken out beforehand.

Putting Affordability First

This affordability and accessibility have always been a priority when it comes to stREITwise. That’s why the platform doesn’t charge acquisition fees, disposition fees, or fees for financing or performance. Typerion’s strong sponsorship also allows stREITwise to steer clear of joint ventures with partners who would charge those fees. The Real Estate Crowdfund Review stood up and took notice, awarding the platform its 2019 Best Fees Award.

Real estate investment can be difficult and fraught with risk and accessibility issues, but stREITwise seeks to level the playing field for everyone involved. If this easy-to-use, highly-accessible platform continues to grow and exhibit favorable ROI in the future, making it a highly recommended choice for new investors.

Want to learn more? Please see our Offering information here!

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Ben Shepardson is a Realty Biz News Contributing Writer and has a long track record of success in online marketing and web development. While pursuing a bachelor’s degree in Computer Information Systems, he worked doing enterprise-level SEO and started an online business offering web development services to small business customers.

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Source: realtybiznews.com

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After dropping slightly month over month in May, pending home sales ticked back up in June, rising 0.3%, according to data released Thursday by the National Association of Realtors (NAR). It contrasts with new home sales, which moderated in the same period (-2.5%).

Year over year, pending home sales were down 15.6%, a smaller decrease than the 22.2% annual drop recorded in May. Taking a step back, pending home sales remain at a relatively low level, and despite this month’s setback, new home sales have climbed convincingly (+22.5%) above last summer’s lows. 

The NAR’s Pending Home Sales Index climbed to a reading of 76.8 in June. An index of 100 is equal to the level of contract activity in 2001.

“The recovery has not taken place, but the housing recession is over,” said NAR Chief Economist Lawrence Yun. “The presence of multiple offers implies that housing demand is not being satisfied due to lack of supply. Homebuilders are ramping up production and hiring workers.”

The trade association forecasts the 30-year fixed mortgage rate to close at 6.4% this year and then decline to 6.0% in 2024. Meanwhile, the unemployment rate will rise slightly to 3.7% in 2023 before increasing to 4.1% in 2024, according to NAR’s forecast.

“With consumer price inflation calming close to the Federal Reserve’s desired conditions, mortgage rates look to have topped out,” Yun added. “Given the ongoing job additions, any meaningful decline in mortgage rates could lead to a rush of buyers later in the year and into the next.”

NAR expects existing-home sales to decrease 12.9% in 2023, settling at 4.38 million, before ticking up 15.5%, to 5.06 million in 2024. In the meantime, national median existing-home prices will remain steady, according to NAR’s forecasts. Compared to last year, existing home-prices are poised to  recede 0.4%, to $384,900, before rebounding by 2.6% next year, to $395,000. 

“It is critical to expand supply as much as possible to widen access to homebuying for more Americans,” Yun said. “Home prices will be influenced by how much inventory is brought to market. Increased homebuilding will tame price growth, while limited construction will lead to home price appreciation outpacing income growth.”

On the flip side, newly constructed home sales are forecast to increase 12.3% in 2023, to 720,000. The trade group expects they will increase by another 13.9% in 2024, to 820,000. Hence, the national median new home price will decrease by 1.9% this year, to $449,100, and then improve by 4.2% next year, to $468,000.

Regionally, on a month-over-month basis, the Midwest (77.6) and the Northeast (67.1)  pending home sales climbed while the South (93.3) and West (57.7) fell. All four U.S. regions saw year-over-year declines in transactions, with the Midwest (77.6) posting the largest annual drop at 17.1%.

According to NAR, prices in the West – the country’s most expensive region – are expected to falter while the more affordable Midwest region will likely see a small, positive increase. (Several of the country’s top emerging housing markets are in Indiana.)

Meanwhile, housing starts are forecast drop 5.3% from 2022 to 2023, to 1.47 million, before increasing to 1.55 million, or 5.4%, in 2024.

“Today’s data signal that although mortgage rates remained high in June, their relative steadiness in the month might have been a difference-maker for home shoppers trying to juggle high costs and stretched budgets. Nevertheless, inventory shortages and living alternatives are likely to keep a lid on existing home sales this year. We’re expecting the smallest annual sales tally in over a decade,” said Realtor.com Chief Economist Danielle Hale.

Source: housingwire.com

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The U.S. housing market is on fire. Prices are rising at a record pace, and it’s getting harder and harder to find a good deal on a home. Even the ever-increasing cost of home lending isn’t doing much to drive prices downward, despite the US Federal Reserve’s best efforts to curb inflation by raising the base rate! If you’re looking for a luxury home, there are still a few markets where you can find some good deals. Here are five of the strongest luxury housing markets in the U.S. right now.

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St. Louis, Missouri

St. Louis is a city that has been on the upswing in recent years. The economy is strong, unemployment is low, and there’s a lot of new development happening. This has all led to a surge in demand for luxury homes in St. Louis. The median home price in St. Louis is currently around $250,000. This is significantly lower than the national average of $375,000. So if you’re looking for a luxury home in a more affordable market, St. Louis is a great option.

While the Midwest region might not be for everyone, St. Louis has a lot to offer luxury buyers in terms of amenities. The city is home to a world-class art museum, a symphony orchestra, and a number of professional sports teams. St. Louis is also located within a short drive of some of the most beautiful natural scenery in the country.

Portland, Oregon, USA – June 5, 2022: Pittock Mansion in Portland. Originally built in 1909, Pittock mansion is a French Renaissance-style chateau located in the West Hills of the city.

Boulder, Colorado

Boulder is a city that is known for its stunning scenery, its vibrant arts and culture scene, and its strong economy. The city is also home to a number of Fortune 500 companies, which has helped to drive up demand for luxury homes in recent years.

The median home price in Boulder is currently around $900,000. This is significantly higher than the national average, but it is still relatively affordable for luxury buyers. Boulder is a popular destination for tech workers and entrepreneurs, and the city’s economy is expected to continue to grow in the coming years.

San Jose, California

San Jose is the heart of Silicon Valley, and it is one of the most expensive cities in the country. The median home price in San Jose is currently around $1.5 million. However, the city’s strong economy and its abundance of amenities make it a desirable place to live for luxury buyers.

San Jose is home to a number of Fortune 500 companies, and the city’s unemployment rate is consistently below the national average. The city also has a thriving arts and culture scene, and it is home to some of the best restaurants in the country. Plus, its close proximity to San Francisco means it’s close to even more incredible culture and arts.

Dallas, Texas

Dallas is a major financial and business center, and it is home to a number of Fortune 500 companies – much like many of the other entries on this list. Similar to San Jose, for example, the city’s economy is likewise quite strong, and the unemployment rate is consistently below the national average. In fact, the entire Dallas-Fort Worth area has been a solid economic performer for decades.

The median home price in Dallas is currently around $500,000. This is significantly lower than the median home price in San Jose or Boulder, but it is still a relatively high price tag. However, Dallas offers a number of amenities that appeal to luxury buyers. The city has a vibrant arts and culture scene, and it is home to some of the best restaurants in Texas.

Hilton Head, South Carolina

Hilton Head is a resort town located on the Atlantic coast of South Carolina. The city is known for its beautiful beaches, its golf courses, and its upscale shopping. It has a very strong and well-earned reputation for luxury living thanks to its position on the coast and the warm weather it experiences nearly year-round.

The median home price in Hilton Head is currently around $1 million. This is a relatively high price tag, but it is still affordable for luxury buyers. The city’s strong economy and its abundance of amenities make it a desirable place to live for those who want to enjoy a luxurious lifestyle. It’s especially relevant for anyone who enjoys boating or watersports of every kind.

These are just a few of the strongest luxury housing markets in the U.S. right now. If you are looking for a place to buy a luxury home, these are the cities where you should start your search.

Bonus Markets You Should Consider for Luxury Housing

St. Louis, Boulder, San Jose, Texas, and Hilton Head are fantastic choices if you’re looking for a solid luxury housing market. In addition to the five cities listed above, there are a few other markets that are worth considering if you’re looking for a luxury home. These include:

  • Austin, Texas
  • Nashville, Tennessee
  • Raleigh, North Carolina
  • Charlotte, North Carolina
  • Phoenix, Arizona

These markets are all experiencing strong growth, and they offer a good mix of affordability and amenities. So if you’re not sure where to start your search for a luxury home, these are a few great places to consider.

The Last Word on Luxury Home Markets in 2023

If you are in the market for a luxury home this year, you can’t go wrong with any of the excellent cities and neighborhoods mentioned in this list. However, you should be aware that markets change all the time based on economic conditions. Be sure to do your due diligence and thoroughly research every property you’re interested in. Enlist the help of a qualified real estate professional familiar with your target market for the best results!

Find topics in marketing, technology, and social media for realtors, and housing market resources for homeowners. Be sure to subscribe to Digital Age of Real Estate.

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Source: realtybiznews.com

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Real estate agents and brokers, if you could choose where your next listing is coming from, wouldn’t you always answer, “repeat or referral business?”  

Of course, you would. 

Repeat and referral clients are easier to work with. They already know, love and trust you. You’re probably not going to compete for their business. And, they are less likely to throw objections at you! Also, they don’t ask you to cut your commission or shoot them a kickback.  

So if you wish to boost your repeat and referral business ASAP, it’s time to  embrace three specific steps:  

Create a database

Have an organized database with names, numbers, email addresses, LinkedIn, Facebook, Instagram and other contact information on each client. You don’t need a fancy CRM. Call each person to update the rest of their profile. It’s a great excuse to make that first — or next — contact. Use your F-O-R-D (family, occupation, recreation, dreams) conversation outline to make these calls fruitful. Refer to our podcasts and other articles about how to speak with your sphere of influence.  

Speak with all of your contacts regularly.

That means face-to-face or voice-to-voice real contact. A contact is a conversation with a decision-making adult about real estate. For example, if you have 200 people in your database and you speak with 10 per day on work days, you can actually speak to 100% of your list every single month. What would that do to your repeat and referral business? If 10 is too many, start with five contacts per day and you will speak with 100% of your list every sixty days.  

Expand your center of influence systematically. 

10% of the people in your database will do business with you or refer business to you every year, assuming you communicate with them. If your database is 100 people strong, you’ll have 10 transactions from them yearly. 200 people could mean 20 transactions, and so forth. Smaller is better. Don’t dump random leads into your database. Past clients, friends, family, neighbors and people in your sphere of influence belong on this list. You can have a second list of your professional center of influence that includes lenders, title professionals, painters, insurance representatives etc.  

To expand your center of influence contacts, try these three approaches:

a) Things you like to do anyway

This list could include your hobbies, sports teams, arts and culture events, fitness routine or going on organized hikes. You’ll be around like-minded people, talking about mutual interests. Use MeetUp.com to find things that interest you. Try out new clubs to expand your contacts.  

b) Business networking 

For the sake of networking. Business Network International, the Chamber of Commerce, Toastmasters, entrepreneurs club, investors clubs, and more are all great ways to meet new professional contacts.  

c) Charitable events.

Auctions, food drives, toy drives, fundraisers, school and church events are all great for a multitude of reasons. You’ll be around philanthropic-minded wealthy patrons of these events, expanding your sphere into neighborhoods you may not yet be working in, meeting interesting people and networking at a high level.  

It’s also important to get into the habit of immediately adding new contacts to your smartphone contacts, then emailing their name to yourself so you can get them into your CRM. Add a note in your contacts to remind yourself how you met them. For example: ‘Sherry Seller. Met at Orange Theory. Married, three kids, and a fish. Moved to Austin from Chicago.’  

Most importantly, remember that in order for these tips to become predictable, duplicatable sources of business, you add more contacts and touch base with them more frequently to achieve that flow of leads.  

Tim and Julie Harris host a podcast for real estate professionals. Tim and Julie of Premier Coaching have been real estate coaches for more than two decades, coaching the top agents in the country through different types of markets.

Source: housingwire.com

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In our latest real estate tech entrepreneur interview, we’re speaking with Andrew Flint from Occupier. He is a recent addition to the GEM.

Who are you and what do you do?

My name is Andrew Flint and I am a Co-founder of Occupier along with Erik Pearson and Matt Giffune. Occupier is a Real Estate Success platform that enables businesses and tenant-rep brokers to make better real estate decisions. Our software engages internal and external stakeholders around lease administration, transaction management, and lease accounting to execute the workflows most important to aligning real estate with the operational needs of the business.  We launched Occupier after working together at VTS, now the leading leasing asset and management platform for landlords. Prior to that, Matt and I spent approximately 10 years as commercial real estate brokers at JLL in NYC and Boston. It was through these previous experiences that we recognized how far behind tenants, landlords and brokers were in terms of using technology to manage their business. Proptech has exploded over the past 5-7 years, however the primary focus has been on landlords, leaving an enormous opportunity to create technology focused on the tenant and their teams.

What problem does your product/service solve?

First and foremost, we provide a modern lease administration platform focused on making key lease details like critical dates, financials, and documents readily accessible and actionable to all relevant stakeholders, both internal and external. Second, as new FASB ASC-842 accounting guidelines go into effect with private companies, businesses need to comply with how they disclose their real estate holdings on their balance sheet.  Without centralized lease data and the ability to measure it, companies put themselves at risk of non-compliance, hence our Q3 launch of a seamlessly integrated lease accounting module.  Finally, Occupier drives a more efficient transaction process by engaging the tenant-rep broker into a dynamic workflow that centralizes all deal communication, site selection, and negotiation in one place, increasing the pace and accuracy of lease transactions.

What are you most excited about right now?

During the coronavirus lockdown, it’s been unbelievable to see the team come together and thrive.  We have been heads-down on product development and onboarding new customers, moving closer launch of Occupier Lease Accounting in Q3.  There is a ton of pent up demand to leverage that module alongside lease administration and transaction management.  In May, we kicked off our participation in Reach 2020, a proptech focused accelerator we are extremely excited about given its association with NAR, CCIM, and SIOR.

What’s next for you?

While we are fully focused on the business right now, we are also poised to raise a proper venture round within the next 9-12, enabling us to bring on additional product, sales and marketing, and customer success resources.  With additional firepower and a solid foundation, what we will be able to provide tenants and brokers will drive significant efficiencies in how companies make real estate decisions and how brokers grow their business.

What’s a cause you’re passionate about and why?

It is no secret that our country has a serious problem with racial injustice, with the killing of George Floyd shining a light on these problems. As a team we support causes, like the Black Lives Matter movement, that will force long overdue changes in America.  We believe we can make a direct impact by committing  to building a diverse team as we grow.  Personally, I am passionate about supporting community organizations like Grand Street Settlement in the Lower East Side of NYC, that provide programs and services to families, youths and seniors across the city.  Before having kids, I volunteered for 7 years, and most recently made a donation after hearing funding for summer youth programs had been cut. These are times where we need to figure out ways to double down on programs like theirs which build up our communities.

Thanks to Andrew for sharing his story. If you’d like to connect, find him on LinkedIn here.

We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop me a line (drew @ geekestatelabs dot com).

Source: geekestateblog.com

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Aditya Kumar Soma quit his job as a software developer the day after he got his real estate license. Now, just three years later, Aditya and his team close over 100 deals per year. And Aditya’s love for real estate isn’t limited to sales; he currently owns over 44 doors and has achieved his goal of true financial freedom. On today’s podcast, Aditya shares how he found fast success in a new industry and as a new investor. Don’t miss it!

Listen to today’s show and learn:

  • Aditya’s love for Real Estate Rockstars [4:27]
  • About Aditya Kumar Soma [5:13]
  • What it’s like growing up on a farm in South India [9:08]
  • What drove Aditya to dive into real estate [10:36]
  • The two books that changed Aditya’s life [13:24]
  • How Aditya got into real estate sales [19:16]
  • Solving the revenue problem instead of the expense problem [25:24]
  • About Aditya Soma’s real estate team and YouTube channel [27:57]
  • Transitioning from buyers to listings [29:55]
  • How Aditya purchased over 40 properties in under five years [30:32]
  • Advice for real estate agents on investing in real estate [35:18]
  • Not letting fear hold you back from new opportunities [37:30]
  • The secret to Aditya’s success: mentorship [40:15]
  • Where to find, follow, and connect with Aditya Soma [43:48]

Aditya Soma

Aditya is a software engineer turned real estate agent in Canada making over a million dollars in commissions. He has not just built a dream life for his family but is also helping people create FREEDOM. It all started with 1 youtube video and today he has 20,000+ Subscribers, with over 1 million views, and just last year (2021) he and his company (Wincity Real Estate Team) sold $75 million of real estate.

Aditya comes from a humble background in India and has had a tough childhood. He has seen his father hustle into odd jobs to get the food on the table. And now, finally, he retired his father, paid away all his debt, and is living the Canadian dream with his family.

Aditya has been rated as #1 Real Estate agent in Windsor, ON and he is among the top 40 Real Estate Agents in Canada.

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-Aaron Amuchastegui

Source: hibandigital.com