Page not found – Michael Fanning https://michaelfanning.com Building Relationships. Mon, 08 Jun 2020 17:22:40 +0000 en-US hourly 1 The Shocking News in the Unemployment Report https://michaelfanning.com/2020/06/08/the-shocking-news-in-the-unemployment-report https://michaelfanning.com/2020/06/08/the-shocking-news-in-the-unemployment-report#respond Mon, 08 Jun 2020 17:22:40 +0000 https://michaelfanning.com/?p=2281 The Shocking News in the Unemployment Report  Monday June 8th, 2020  For Buyers, For Sellers   Last Friday, the U.S. Bureau of Labor Statistics released their 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 […]

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The Shocking News in the Unemployment Report | Simplifying The Market

The Shocking News in the Unemployment Report

Last Friday, the U.S. Bureau of Labor Statistics released their May Employment Situation SummaryLeading 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 recovers, as 21 million Americans remain unemployed. That number is down, however, from 23 million just last month. And, of the 21 million in the current report, 73% feel their layoff is temporary. This aligns with a recent Federal Reserve Bank report that showed employers felt 75% of the job losses are temporary layoffs and furloughs.

The Employment Situation Summary was definitely a pleasant surprise, and evidence that the country’s economic turnaround is underway. The data also offers a labor-market snapshot from mid-May, when the government conducted its monthly survey of households and businesses. Many states did not open for business until the second half of May. This bodes well for next month’s jobs report.

Bottom Line

We cannot rejoice over a report that reveals millions of American families are still without work. We can, however, feel relieved that we are headed in the right direction, and much more quickly than most anticipated.

Note: In its original report, the BLS explained that a misclassification error could have occurred over the last 3 months, starting in March of 2020. Readjusting for this error, the unemployment rate would actually show a drop from 19.7% in April to 16.3% in May. Nobody would say the original report of 13.3% unemployment was a good number, nor is the revised 16.3%. What is a positive move for our country and the economy is the significant drop in the rate from April to May, meaning more people are getting jobs than losing them. That’s the key takeaway.

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Be the most knowledgeable Real Estate Broker. https://michaelfanning.com/2019/10/10/be-the-most-knowledgeable-real-estate-broker https://michaelfanning.com/2019/10/10/be-the-most-knowledgeable-real-estate-broker#respond Thu, 10 Oct 2019 18:45:32 +0000 https://michaelfanning.com/?p=2203 I watched a great webinar with Steve Harney and Tom Ferry. Here are my take aways. Click here for the PDF from Keeping Current Matters.  Click here for the Web version from Keeping Current Matters.  More on Keeping Current Matters.  Tom Ferry’s website. 

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I watched a great webinar with Steve Harney and Tom Ferry. Here are my take aways.

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Young First-Time Buyers Are Saving for Their Dream Homes https://michaelfanning.com/2019/06/20/young-first-time-buyers-are-saving-for-their-dream-homes https://michaelfanning.com/2019/06/20/young-first-time-buyers-are-saving-for-their-dream-homes#respond Thu, 20 Jun 2019 18:38:09 +0000 https://michaelfanning.com/?p=2189 Young First-Time Buyers Are Saving for Their Dream Homes Young buyers (Millennials & Gen Z) have waited longer than previous generations to enter the housing market for their first home. However, this hasn’t stopped them from dreaming about the home they will eventually buy. Many spend hours searching listings and building Pinterest boards of their favorite home […]

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Young First-Time Buyers Are Saving for Their Dream Homes

Young First-Time Buyers Are Saving for Their Dream Homes | MyKCM

Young buyers (Millennials & Gen Z) have waited longer than previous generations to enter the housing market for their first home. However, this hasn’t stopped them from dreaming about the home they will eventually buy. Many spend hours searching listings and building Pinterest boards of their favorite home features.

According to a survey from Open Listings, 70% of single renters are more likely to spend their Sunday nights swiping through house listings than dating profiles.

All that time window shopping has led 45% of millennials to expect the first home they buy to be their “dream home”! They are willing to wait longer, save more for a larger down payment, and are pickier about the listings they want to tour and the features that they want to see in their first home.

Waiting a little longer to buy a home than their parents or grandparents did has also helped young buyers become more established in their careers prior to making such a large purchase. Lawrence Yun, NAR’s Chief Economist, recently commented,

“Older millennials are now entering the prime earning stages of their careers, and the size and costs of homes they purchase reflect this. Their choices are falling more in line with their Gen X and boomer counterparts.”

In some areas of the country, high competition in the starter home market forces young buyers to wait longer. The extra money they save during that time opens their search to bigger, more expensive homes.

If this trend continues, older millennials will skip the starter home altogether, going straight to a trade-up or premium home instead.

Bottom Line

If you are one of the many young renters planning on buying your first home soon, let’s get together to help determine what type of home will best suit your present and future needs.

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Michael’s Holiday Book list. https://michaelfanning.com/2018/12/21/michaels-holiday-book-list https://michaelfanning.com/2018/12/21/michaels-holiday-book-list#respond Fri, 21 Dec 2018 19:17:08 +0000 https://michaelfanning.com/?p=2119 Just wanted to give you all some of the books I have read this year that I found to be packed with some great ideas on making life and business a huge success. Each book is linked to Amazon. This Book Positivity really lets you understand the power of your thoughts and how your thoughts […]

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Just wanted to give you all some of the books I have read this year that I found to be packed with some great ideas on making life and business a huge success. Each book is linked to Amazon.

This Book Positivity really lets you understand the power of your thoughts and how your thoughts vibrate out into others.

This book helps you identify if your environment that you create is built for success or failure.

Steve Sims talks about going after what you truly want in life. Not settling for what others may think you want.

    

These two books work great. The Five Minute Journal is a book you should start and end every day with. The Productivity Planner allows you to do and focus on the goals for each Day, Week, and Year.

Last but not least. One of the best books on Negotiation I have read. This book help me to build a better relationship with my 15 year old son.

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Words really do matter. https://michaelfanning.com/2018/07/26/words-really-matter https://michaelfanning.com/2018/07/26/words-really-matter#respond Thu, 26 Jul 2018 18:30:15 +0000 https://michaelfanning.com/?p=2077 Can we start to use some different words in our industry that can make us sound a bit more professional?    

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Can we start to use some different words in our industry that can make us sound a bit more professional?

 

 

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Power in Words. https://michaelfanning.com/2017/10/26/power-in-words https://michaelfanning.com/2017/10/26/power-in-words#respond Thu, 26 Oct 2017 17:14:00 +0000 https://michaelfanning.com/?p=1929 Words we need to stop using in Real Estate. If we want to show up like a Real Estate Trusted Advisor then we need to stop using certain words. We do not have DEALS!  In this industry, I hear this word all the time. This is one of the biggest transactions in a person’s life […]

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Words we need to stop using in Real Estate.

If we want to show up like a Real Estate Trusted Advisor then we need to stop using certain words.

  1. We do not have DEALS!  In this industry, I hear this word all the time. This is one of the biggest transactions in a person’s life so let’s call it what it is. We have Transactions.
  2. The last time I checked any services or resources I provide for my clients has a fee attached to it. When I pay this fee on your behalf it isn’t automatically free to my client. It still costs money; therefore it becomes complimentary for my clients.
  3. When I visit my financial planner, she refers to me as a client not a customer. When I am representing you in a Real Estate transaction you are my Client.
  4. When I provide specific services to you in the capacity of a Real Estate Trusted Advisor there is a specific Fee that I charge. This is not a commission it is a Fee.

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My success is up to me. https://michaelfanning.com/2017/03/16/my-success-is-up-to-me https://michaelfanning.com/2017/03/16/my-success-is-up-to-me#respond Thu, 16 Mar 2017 22:29:57 +0000 https://michaelfanning.com/?p=1675   I think this video is powerful in explaining that we are the only reason why we succeed or fail. I have taught over 3500 Real Estate agents about building daily and weekly habits that will allow them to succeed. What is interesting is you don’t often hear is “I didn’t work”, what you hear […]

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I think this video is powerful in explaining that we are the only reason why we succeed or fail. I have taught over 3500 Real Estate agents about building daily and weekly habits that will allow them to succeed. What is interesting is you don’t often hear is “I didn’t work”, what you hear is ” The program wasn’t right for me.” I is interesting that when I see someone succeed it is because they decided to work and commit to actions that would give them a positive outcome over time. When we fail, it’s isn’t because of the program it is because we decided to not commit.

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People size you up in seconds, but what exactly are they evaluating? https://michaelfanning.com/2016/02/17/people-size-you-up-in-seconds-but-what-exactly-are-they-evaluating https://michaelfanning.com/2016/02/17/people-size-you-up-in-seconds-but-what-exactly-are-they-evaluating#respond Wed, 17 Feb 2016 23:35:55 +0000 http://withwre.com/michaelfanning/?p=1591   Harvard social psychologist Amy Cuddy In her new book, "Presence,"   says people quickly answer two questions when they first meet you: Can I trust this person? Can I respect this person?   She goes on to say that Trust is by far the most inportant. So many times in business today we put […]

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2016-02-17_15-33-38

 

Harvard social psychologist Amy Cuddy In her new book, "Presence,"  

says people quickly answer two questions when they first meet you:

  • Can I trust this person?
  • Can I respect this person?

 

She goes on to say that Trust is by far the most inportant. So many times in business today we put the trust second and try to impress and gain respect. She says we have it all wrong. Click here to read her full article. 

More links with great articles from Amy Cuddy. 

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Looking forward to this Event.  https://michaelfanning.com/2016/01/22/inman-connect-in-new-york-2016 https://michaelfanning.com/2016/01/22/inman-connect-in-new-york-2016#respond Fri, 22 Jan 2016 18:27:22 +0000 http://withwre.com/michaelfanning/?p=1553 Inman Connect New York 2016 Schedule Speakers     Thursday, January 28 • 4:00pm – 4:30pm Failing Forward – Lessons Learned from Missed Opportunities     TweetShare Speakers Michael Fanning Senior Vice President, Client Services, Windermere Real Estate Michael Fanning is responsible for assisting with the growth of the Windermere brand. His responsibilities include expanding […]

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Inman Connect New York 2016

 

Thursday, January 28 • 4:00pm – 4:30pm

Failing Forward – Lessons Learned from Missed Opportunities

 

 

TweetShare

Speakersavatar for Michael Fanning

Michael Fanning

Senior Vice President, Client Services, Windermere Real Estate

Michael Fanning is responsible for assisting with the growth of the Windermere brand. His responsibilities include expanding the network of Windermere offices and consulting with owners to develop recruitment and longevity programs while incorporating a strong understanding of the technical side of the tools Windermere provides. Fanning has been instrumental in the growth and development of many of the technology tools offered to Windermere… Read More →

 

 

avatar for Patrick Lilly

Patrick Lilly

Broker, CORE

Patrick Lilly holds a coveted position in the world of New York real estate as not only a top-tier producer, but a sought-after expert who has been spotlighted in books, the media and seminars. A mainstay in the industry for over 25 years, Lilly has excelled to great heights in his field thanks to his exceptional market knowledge, proven flair for successful deals and strong relationships with clients and peers alike. | | Strong sales success… Read More →

 

 

 

avatar for Joe Schutt

Joe Schutt

Broker and Co-Owner, Unit Realty Group

Joe Schutt, REALTOR® began his career in real estate in 2003 as a sales agent before going on to found Unit Realty Group (unitboston.com), a Boston-based boutique brokerage in 2012 where he serves as broker owner. Professionally Joe has been recognized for industry excellence and currently serves on the board of directors for the Massachusetts Association of Realtors (MAR), Greater Boston Association of Realtors (GBAR), and… Read More →

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Why should you take education classes outside your area? https://michaelfanning.com/2016/01/22/what-should-you-take-education-classes-out-side-your-area https://michaelfanning.com/2016/01/22/what-should-you-take-education-classes-out-side-your-area#respond Fri, 22 Jan 2016 18:22:49 +0000 http://withwre.com/michaelfanning/?p=1549 Why take Classes outside your market area? from Windermere Real Estate on Vimeo.

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Why take Classes outside your market area? from Windermere Real Estate on Vimeo.

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