How to increase cash flow from a second home | How to explain local broker marketplaces to clients | Tips to stay the course when wins have been elusive
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Tips to stay the course when wins have been elusive If you're struggling with the grind and haven't had a win in a while, it can be difficult to maintain a positive attitude and feel like you're progressing in your career, writes executive coach Anne Sugar. Celebrating smaller successes, developing meaningful boundaries, writing down positive actions you've taken and expanding your horizons are among the strategies that Sugar recommends to turn stagnation into progress. Full Story: Harvard Business Review (tiered subscription model) (7/13)
Real Estate Trends
Mortgage rates surge to an 8-month high The 30-year fixed-rate mortgage is a stone's throw away from reaching a 7% average. Monthly mortgage payments have jumped nearly $300 in the last year. Full Story: REALTOR® Magazine (7/13)
Manhattan apartment rents moved downward in June Average apartment rents for new leases in Manhattan declined by $95 in June to reach $4,300, following three straight months of record-setting rents, according to a report by Miller Samuel and Douglas Elliman Real Estate. However, July and August are typically the busiest months of the year, which could put upward pressure on rents going forward. Full Story: Bloomberg (7/12)
Technology & Innovations
AI enables conversational property search Wahi, a Toronto-based real estate data and analytics firm, has developed a plugin for ChatGPT that founder and CEO Benjy Katchen says turns "the property search into a conversation that can take place in any language." Full Story: IT World Canada (7/12)
How will lower inflation affect the Fed's interest-rate plans? Consumer price inflation was measured at 3% on a year-over-year basis in June, well below the peak it reached in 2022, according to the Labor Department. The better-than-expected results amount to good news for the Federal Reserve's inflation-fighting campaign, although market participants are still expecting another interest-rate hike later in July. Full Story: BNN Bloomberg (Canada) (7/12)
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The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
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