ECONOMIC KNOWLEDGE What is the Federal Reserve(Bank) System? Edited by Stephen Lee with CRI 1. Definition of the Federal Reserve System The central banking system of the U.S. of America, which is the most powerful economic institution in the U.S., perhaps the world. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, signed by President Woodrow Wilson,...
MARKET TREND SERIES “The Insurance Crisis Continues to Weigh on Homeowners” Excerpted from JCHS/edited by Stephen Lee with CRI A Study by Havard Joint Center for Housing Study Rising Home Prices and Homeowners Insurance Costs are Dual Affordability Stressors Insurance has grabbed headlines lately for good reason. As home prices remain elevated at historically high...
<Roof Style and Materials> Roof Style Gabled Roof Clipped Gable Roof Dutch Gabled Roof Gambrel Roof Hip Roof Mansard Roof Shed...
Major kinds of Kitchen Countertops 1. Marble Countertops 2. Granite Countertops 3. Corian Countertops 4. Quartz Countertops 5. Concrete Countertops 6. Laminated(“Formica”) Countertops Kitchen Countertops Marble Countertop (대리석) Advantages - Enjoy natural texture Disadvantage - Hard to maintain. - Marble is porous and requires regular sealing, usually every 6 -12 months, to...
2024 RE Consumer Protection Enhancement Act In early July, Gov. Murphy signed Bill s3192/A4454, also known as the Real Estate Consumer Protection Enhancement Act, into law. The law, which goes into effect Aug. 1, 2024, strengthens both consumer and real estate licensee protections. The main provisions of the new law include but are not limited to the following new mandates and...
Expected Changes in Transaction MLS form change - Local MLS firms will change the format - No field for BA Com. Seller Agent Commission - It could be a half : Seller agent commission only - Or, it could full commission including buyer agent commission Buyer Agent’s Commission - Tough negotiation with...
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What will the Future Bring? Pent-up demand, settlement agreement will be factors. - Home sales in 2023 were the worst in nearly 30 years. The micro-level reasons—owners locked into low mortgage rates, low inventory, and rising interest rates—explain the fall in sales. - But looking at the big picture, it makes less sense. Last year’s 4...
Top 10 Issues: Making Moves in a Complex Age (4/17/2024) 1. Geopolitical and the Global Economy - The conversation has shifted from a focus on global risks such as gas prices and commodities to pressing concerns about economic instability. - The list of stressors includes inflation, high interest rates, banking debt, and tightening liquidity, as well as the influences of AI, migration trends, hybrid...
NAR Settlement & Buyer Representation (3/27/2024) Points of NAR Recent Settlement Makes clear that NAR continues to deny any wrongdoing in connection with the Multiple Listing Service (MLS) cooperative compensation model rule (MLS Model Rule). NAR would pay $418 million over approximately four years. To put in place a new MLS rule prohibiting offers of broker compensation on the MLS....
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