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August Federal Reserve Meeting Recap: Interest Rates Left Unchanged

The U.S. Federal Reserve met on August 1st, and the main take away from the meeting was that the benchmark interest rate will remain unchanged.  However, the Fed did reaffirm the notion that they do expect to raise interest rates two more times this year, with the first increase occurring in September.  Strengthening that notion, according to a Bloomberg study, traders believe there is a 92% probability that the Fed will raise the Fed funds rate to a range of 2% to 2.25% in September, and a 71% chance of an additional hike in December.  Currently the Fed funds rate sits at a range of 1.75% to 2%. 

Why raise rates?  Raising rates is primarily an indication that the economy is growing at a strong enough pace to support it.  In fact, the economy grew at a pace of 4.1% in the 2nd quarter, its best showing in nearly four years.  Fed Chairman Jerome Powell furthered that notion, going on to say the economy is in a “really good place” and pledged to continue with gradual increases in borrowing costs in order to maintain the second-longest U.S. economic expansion on record.  Increased participation in the labor market and record-low unemployment are two of the key driving indicators in determining a strong economy.  In addition, the Fed announced that there has been strong growth in household spending and business fixed investment. 

Takeaway: Although higher rates will make it a little more costly to borrow funds, sometimes you have to look at the bigger picture.  A healthy and strong economy as a whole will ultimately have a much more positive impact on our overall lives.

Sources: 

https://read.bi/2B7GtcV

https://cnb.cx/2Mch86O


National Night Out 2018

Aug 7
9:13
AM
Category | General News

WHAT IS NATIONAL NIGHT OUT?


National Night Out is an annual community-building campaign and event that brings together local police departments with communities and helps enhance partnerships and neighborhood comrarderie. National Night Out enhances the relationship between community and law enforcement by bringing back a true sense of community and togetherness.

Tens of thousands of communities take part in National Night Out  from all fifty states, U.S. territories and military bases worldwide on the first Tuesday in August (Texas celebrates on the first Tuesday in October). Neighborhoods host block parties, festivals, parades, cookouts and various other community events with safety demonstrations, seminars, youth events, visits from emergency personnel, and exhibits.

 

History

Late 1970’s: Volunteer Work.

Matt Peskin, founder and executive director of National Association of Town Watch introduced the National Night Out program in 1984, which began in the western suburbs of Philadelphia, Pennsylvania.  During his tenure of volunteer work in the township, he often patrolled his neighborhood, assisted in patrol dispatch and shortly thereafter introduced the program’s newsletter.

The newsletter became a representation of the success that took place within the organization and the volunteer work put forth by over one thousand neighbors. Opportunity to publish new and creative content became more and more difficult as each month passed. Peskin began to reach out to surrounding townships and communities for assistance.

Early 1981: The Association.

National Association of Town Watch was founded only a few years later to provide community watch groups the necessary resources and assets to stay informed, interested, involved, and motivated within the community. Neighbors and local law enforcement across the nation supported the association as it steadily grew for the next three years. However, Peskin knew something more was needed.

August 1984: The Campaign.

NATW introduced National Night Out in August of 1984 through an already established network of law enforcement agencies, neighborhood watch groups, civic groups, state and regional crime prevention associations and volunteers across the nation. The first annual National Night Out involved 2.5 million individuals across 400 communities in 23 states. However, the event grew to what it has become now to be more of a celebration of community and positive cooperation.

Today, 38 million neighbors in 16 thousand communities across the nation take part in National Night Out.

 

Quotes:

… preventing and solving crime is a community effort. National Night Out is an excellent program that helps the department build relationships with neighbors and create safer neighborhoods. This is one of the events we look forward to each year.

Chief George Turner - Atlanta Police Department

… the best way to build a safer community is to know your neighbors and your surroundings. National Night Out triumphs over a culture that isolates us from each other and allows us to rediscover our own communities.

Kay Bailey Hutchison - Senator

 

Please visit https://natw.org/about for more information and be sure to check out your local events by clicking here or for NY residents, here.

 


30 Second Update for the week of 8/6

There has been an abundance of economic reports that we should all be aware of that can help us understand the current state of the housing market and economy.  Here’s a bit of inside info to you put your finger on the pulse of the market.

Pending Home Sales is an index created by the National Association of Realtors that shows the amount of existing homes that have pending sales or that have a signed contract, but haven’t closed yet.

Pending Home Sales for the month of June increased by almost 1%. This is a strong number and was a rebound from May’s negative report. When digging deeper, the report also showed that every analyzed region across the US had positive gains as well.  Pending Home Sales are on the rise, however they are still lower than analysts would like due to the lack of inventory.

Source: http://bit.ly/2M9hI0W

 

The S&P CoreLogic Case Shiller Home Price Index (HPI) tracks the month-to-month change in residential real estate home prices across the US.  For the most recent release, which is for the month of May, the HPI increased slightly by 0.2%. For the year, the HPI is up 6.5%.  Even though this number came in slightly lower than projections, a 6.5% rate of appreciation is still very strong!

Source: http://bit.ly/2Kgo7Wr

 

The ADP Employment Report is a monthly report that shows new jobs created solely in the private sector.  In July’s report, there were 219,000 new jobs created, which is much stronger than last month’s report of 181,000.  More jobs usually point to a stronger economy and more homes that will be purchased.  A strong jobs report can equate to a heathy housing market and continued home appreciation due to the further increase in demand for more homes.

Source: http://bit.ly/2LRlzmo

 

Welcoming the month of August:

  • Did you know that the astrological signs for August are Leo and Virgo?
  • August 3rd is national watermelon day!
  • The second week of August is national smile week!

 

Tips to sell your home to capitalize on elevated home prices and buyer demand

June of 2018 represented the first time since 2015 that there was an increase in U.S. housing inventory.  This increase is attributed to both elevated home prices, as well as a continuous push of buyer demand for housing.  According to data released from the National Association of Realtors, 1.95 million previously owned homes were available for purchase, up 0.5 percent from June of 2017.  Now may be the perfect time to capitalize on your home’s increased value and equity by listing your property and take advantage of buyer demand.

Basic Home Selling Tips and Advice

 

  • Choose the right listing agent- Speak with friends, family, neighbors or other industry professionals and have them recommend possible real estate agents.  Interview multiple agents, ask questions, and pick the one that is the best fit for you.  Some deciding factors should be an agent's experience, knowledge of the area, responsiveness, and how he or she plans on marketing the property.

 

  • Repairs, updates, and presentation- Simple fixes can go a long way.  Fresh paint, minor renovations and repairs to doors, floors, cabinets, etc. can reap rewards.  Curb appeal is key, as this is the first impression.  Maintain the lawn, keep the flower beds clean, and present your home to the best of its ability.

 

  • Price and market your home correctly: Focus on homes that have sold in your area as your leading indicator.  Every house is different, but comparable properties sold tends to be the leading indicator for home value.  Market your house to gain the most exposure.  Take quality pictures and advertise on all listing sites, have an online presence through social media outlets, hold open houses, and always keep your house presentable for home tours.

 

  • Get pre-approved: This is the most important tip.  Reach out to your Advisors Mortgage Group professional for any of your home buying and mortgage questions and have them pre-approve you for your next purchase.

 

 

http://bit.ly/2NIb3Lu

https://bloom.bg/2OenAY2


Housing Market Update

The National Association of Home Builders created a Housing Market Index (HMI), based on a survey of the members of its organization.  Within this survey, respondents are asked questions about the current state of the housing market, in regards to sales, the forecasted sales of homes over the next six months and current buyer traffic of new homes, which is a good gauge of demand. 

For the month of July, the HMI was released at a level of 68.  This is unchanged from last month’s number and inline with expectations.  A number at a level over 50 is seen as positive.

Current Sales of New Homes:  Sales are very strong for the month of July.  They came in unchanged from its prior month’s number at a level of 74.

Estimated Sales of New Homes Over The Next Six Months:  Forecasted sales are still very strong, but recent estimates dipped a little bit, dropping the level to 73 instead of 75 that was released last month.

Buyer Traffic of New Homes:  The overall buyer traffic seems to be lagging, but still strong as it is at a level over 50 at 52.  Regionally broken down, we see that buyer traffic is seen at its strongest in the west at a level of 75 and at a level of 57 in the northeast.

 

Source: http://bit.ly/2NTTRDD


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