The law of nature is, do the thing, and you shall have the power: but they who do not the thing have not the power.” ~ Ralph Waldo Emerson
The winners are the doers, and they detour from the scenic route of getting nowhere.
Do the thing!
High performance is a process and a mind-set.
Glad to be here high performance framework, by John Foley
PPPQ: peak performers power question:
How can I increase the value of my services to our customers today?
How can we increase the value of our services to our customers today?
Implication: rewards will be in direct proportion to your service to others.
My son Tim has always been a Bing (Microsoft) fan. He was Bing before Bing was cool. I stuck with Chrome and Safari. Yet the latest update to Bing is pretty killer. “AI will fundamentally change every software category, starting with the largest category of all – search,” said Satya Nadella, Chairman and CEO, Microsoft. “
The next year in tech is going to be exciting. Those who don’t like change will dislike irrelevance even more. Seat belts on, tray tables up.
Peak performers stay relevant with 2 questions:
Inspiration drives us, whereas motivation is a pulling force.
Peak performers think of it this way: Inspiration is something that you feel on the inside, while motivation is something from the outside that compels you to take action. Both are key to achieving goals.
Inspired or motivated the research has shown that we’re more committed to our goals when we understand their importance, value, and attain ability.
April is the month our industry remembers, celebrates, and recommits to Fair Housing.
Fair housing is more than a list of dos and don’ts, rights and penalties, and mandatory continuing education.
As stewards of the right to own, use and transfer private property, fair housing depends on a free, open market that embraces equal opportunity.
Join me in recognizing the significance of the Fair Housing Act and reconfirm a commitment to upholding fair housing law as well as a commitment to offering equal professional service to all in their search for real property.
Reflect. Repair. Renew. Because That’s Who We R®.
What’s happens in your business is a result of the things you habitually think and do.
The predictions of the real estate market have been about as accurate as the local weather forecast in areas without Doppler Radar.
Two headlines in real estate, really?!
Yes.
The summary? Solid demand with low inventory means fewer options for real estate buyers AND a tale of two markets.
In a recent WSJ article, Nicole Friedman wrote the United States is a country of two housing markets. In one, home prices are falling from a year ago. In the other, they’re still posting annual gains. That division runs right down the center of the U.S. She listed – with data from Black Knight – the top 10 markets with the largest price increases between February 2020 and January 2023:
Nicole’s article points out that real estate markets are hyper-local and geography-specific. According to Michael Simonsen from Altos Research, we continue to see a seller’s market across the US. You can see the National numbers – on this link – and type in your own zip code for a local view.
In looking at this week’s Altos data, the top 10 markets with the most listings absorbed – it’s a Texas sweep:
I observed this week on a National basis another 1% drop in inventory for sale at a time when inventory is typically rising by 1% or more each week. This, in my view, is a leading indicator of a supply-constrained market for the Spring buying season. Many homeowners have a current mortgage rate below 4%, and many don’t want to sell their current rate and pay a higher rate for a different house.
Implication? It’s going to be a great time for remodeling contractors.
Many homeowners are also sitting on large cushions of equity, and the institutional investors show no sign of liquidating inventory, which is likely to prevent any big wave of foreclosures and distressed sales.
In many markets across the US, housing demand is high enough for sellers to command pricing. In fact, the latest percentage of listed homes with a price decline dropped this week to 30.5% when just a month ago, it was nearly 40%. Investors and buyers who were sitting on the fence missed an opportunity back in November and December.
In other news, according to Altos, the median price of a new listing his week rose to $437,500 across the US, while the median rent was $2,250. The headlines will be hard to interpret as some are comparing to last year’s unprecedented price increases. The data shows increasing prices on a National basis but not near the pace of last year. My view? The unprecedented rise in mortgage rates has softened demand but not enough to balance the market.
The solution? Building, renovation, and conversation of mall and unused office space for residential use. The issue, according to Nicole, is Home builders have been hampered by supply-chain issues and labor shortages. Yet, Jonathan Lanser, a real estate and business journalist for the Orange County Register, recently reported that new home builders gained 2.8% in market share. Yet is it enough? I say no. It seems to me from a National, Regional, and local City perspective, we need to address housing policy to place this vital sector of the US economy in a position to enable the American dream vs. destroying it.
Part of the peak performer playbook (PPP):
25% of the year is over… it’s time for a quarterly business and operations review! Is it scheduled? I have a powerful 21 question business review – [email protected]
Are you ahead, behind or on track with your goals? In any case “declare it perfect and move forward powerfully.”
Review what’s working, what’s not. Make the adjustments, and keep moving forward.
Basic agenda:
The results will happen – as long as we are all willing to execute the daily activities, track the results, make the changes to the behaviors and engage an accountability partner.
Are you nterested or committed to what’s left of this year?
