Berkshire Hathaway HomeServices PenFed Realty Texas, a division of one of the country’s fastest-growing real estate brokerages, PenFed Realty – with more than 2,000 REALTORS® and over $8 billion in annual sales volume – is pleased to welcome Noah & Brittany Larson of the Trinity Key Real Estate Group to its Dallas, Texas office.
“Noah and Brittany bring a passion for real estate and a servant’s heart for their clients to our company,” said PenFed Realty Texas Senior Vice President of Sales Marvin Jolly. “They have built an impressive real estate business in a short time in the Dallas Metroplex as well as hyper-locally in their Bryan Place neighborhood. PenFed Realty Texas is excited to partner with them and helps them continue to grow their business and maintain their impeccable level of client care.”
Trinity Key Real Estate Group is well known for delivering first-class service to the residents of Dallas and the surrounding suburbs in the purchase and sale of townhomes, single-family, condominiums, and new construction properties. Together, Noah and partner Brittany have closed numerous transactions, building lifelong relationships with their clients and developing an elite reputation among colleagues in the market.
“We made the move to Berkshire Hathaway PenFed Realty Texas for the luxury alignment, value, and leverage provided by the stellar marketing team. We look forward to this growing partnership and cannot wait to see where this takes our business!”
Husband & wife team Noah & Brittany Larson are longtime residents of the Bryan Place neighborhood in Dallas, TX, and currently reside there with their newborn. Trinity Key Real Estate Group can be reached by email at [email protected] or [email protected], and by phone at 469.688.2954.
About Berkshire Hathaway HomeServices PenFed Realty Texas
Berkshire Hathaway HomeServices PenFed Realty Texas (http://www.weknowtx.com) is a full-service real estate company with an annual sales volume of just under $2.2 billion. A branch of PenFed Realty which is headquartered in Alexandria, Va., the company has over 2,000 agents and nearly 60 offices, providing complete real estate services nationwide and helping over 20,000 clients with their real estate needs each year. PenFed Realty is a wholly-owned subsidiary of PenFed Credit Union and is a member of the Berkshire Hathaway HomeServices brokerage network, operated by HSF Affiliates LLC. We are proud to be an equal employment opportunity employer. Equal Housing Opportunity.
The Wetlands Park Nature Preserve is a 210-acre section of the park that is home to hundreds of species of animals. The Preserve includes ponds, three miles of paved ADA accessible trails, restrooms, and a network of connecting unpaved trails and shady lanes that provide hours of nature exploration. Nature Preserve trails are accessed from the main parking lot by the Nature Preserve and Neighborhood Park. Click here for the map of Nature Preserve trails.
The Nature Preserve is intended to be a safe place for wildlife. Dogs and bikes are not allowed on the trails in the Nature Preserve as their presence can be disruptive to wildlife. Leashed dogs are permitted on the Duck Creek Trails and Wetlands Loop Trail as well as at other Park Trailheads. Bikes are allowed on the Wetlands Loop Trail.
Wetlands Loop Trail
The 14-mile Wetlands Loop Trail is a multi-use trail shared by hikers, joggers, cyclists, and dog-walkers alike. The trail is not approved for equestrian or motor vehicle use. It serves as a perimeter trail in the park and loops around both the north and south sides of the Las Vegas Wash.
Wetlands Loop North is fully paved and begins at Neighborhood Park in near Tropicana Avenue, crosses the Big Weir Bridge over the Las Vegas Wash and continues seven miles east to the Powerline Crossing Bridge near Lake Las Vegas.
From the Powerline Crossing Bridge, the Wetlands Loop South trail meets up with Wells, Pabco, and Duck Creek Trailheads and ends at Wetlands Park Lane near the Nature Center. The final 2.5 miles of the Wetlands Loop South trail is unpaved and may not be appropriate for some road bikes. Terrazza Park (Henderson Parks & Recreation) is also adjacent to the Wetlands Loop Trail and also serves as access to the trail.
The Wetlands Loop connects with other Valley trails, including the 34-mile River Mountains Loop Trail near Powerline Crossing Bridge and Lake Las Vegas, as well as the Flamingo-Arroyo Trail near Sunrise Trailhead and Duck Creek Trail near the Duck Creek Trailhead.
Duck Creek Trails
Three trails radiate from the Duck Creek Trailhead. Quail Run, Duck Creek, and Coyote Howl Trails are short paved trails through tall shrubs, grass, and trees. Look for animal tracks along the trail. All three trails end at Dragonfly Divide, an unpaved portion of the Wetlands Loop Trail. Dragonfly Divide ends near the Nature Preserve.
Bicycles are permitted only on the Wetlands Loop Trail. This is a fourteen mile loop trail that is paved for approximately 9.5 miles. The final 2.5 miles is unpaved and may not be appropriate for road bikes. Access to this trail can be found at Neighborhood Park, as well as the Duck Creek, Pabco, Wells, and Sunrise Trailheads. Click here to download the Bike Trails Map.
Leashed pets are permitted at all of the Park Trailheads, Duck Creek Trails, and the Wetlands Loop Trail. Dogs are not allowed in the Nature Preserve. This is to protect the habitat for wildlife and to as ensure safety of pets as well.
Horses are allowed on unpaved trails north of the Las Vegas Wash. These trails are accessed at Sunrise Trailhead (currently closed—parking is permitted along E. Hollywood Blvd). Pabco Trailhead also features horse trailer parking and access to the unpaved portions and side trails along the Wetlands Loop South trail. Horses are not allowed in the Nature Preserve or bridges in the Park.
Duck Creek Trailhead
Duck Creek Trails are short and sweet. These accessible trails wind through tall shrubs, grass, and small trees. Look for fun animal tracks stamped into the concrete.
Wetlands Neighborhood Park
Bostick Interpretive Area
Leasehold refers to a property tenure, where one party buys the right to occupy the property for a given length of time (30 to 99 years). In a leasehold land, the authority (usually, a government agency) remains the owner of the land and gives the land to builders, to develop apartment projects on a leasehold basis. Anyone who buys a residential flat, will own it only for the leasehold period.
See also: All about immovable property
It becomes important to understand the ownership of an apartment building on the leased land. The main disadvantage for a home buyer, is the uncertainty that arises after the lease period on the land ends and the renewal of the occupancy contract. This scenario usually comes up when the lease on the land is for shorter tenures of 30-33 years, which is commonplace especially in Mumbai. Along with the contract renewal, buyers will also have to bear other costs, such as property tax, etc.
Another issue that projects built on plots with shorter lease periods face, is of not receiving funds for construction. So, a significant delay or even non-completion of projects is a possibility. Additionally, redevelopment of such projects becomes problematic, since the consent of all the involved authorities is required, to carry out any repair or construction.
While applying for a home loan for a property built on leasehold land, the home loan tenure cannot be higher than the balance period of the lease. In cases, when the lease period for the land is short or is nearing its end, lenders would be unwilling to risk the possibility of the lease not being renewed and therefore, may not grant a home loan.
|Leasehold property||Freehold property|
|A leasehold property means the property on the land is leased to the property buyer for a certain period, but the ownership belongs to the original owner (such as the government).||Freehold property refers to a property that is free from hold (other than the owner). The buyer will own the plot of land on which it is constructed.|
|Owners will be required to pay to extend the lease at the end of the lease period||The ownership in this type of property is indefinite|
|State consent from the land office is required for transfer of ownership||State consent is not required to transfer ownership. However, it may be needed in some specific earmarked properties|
|Many banks do not finance a property where the lease period is less than 30 years||Getting finance from banks in case of freehold properties is easier|
Most projects in large metro cities like Mumbai and Delhi-NCR are built on leasehold plots that are bought by the developer. This practice is followed, mainly due to the scarcity of new land in and around these cities. The primary owner of the leasehold land is usually the government or local development authorities and the period of lease is usually between 30 to 99 years. The owner can choose to extend the tenure to 999 years. The unusual figure of 99 years is considered an approximate time spanning three generations. The ideal time period should be more than 30 years which enables a property buyer to seek financial help from banks. Getting an extension of the lease period will be in favour of the buyer as it augments the property value over the years and makes it easier to get financing assistance.
This means that if you were to buy a property in a project that was built on leasehold land, you would remain its owner only for 99 years, or for any other lease period and the authority/government will remain the primary owner.
Once the construction of a project is complete, the developer will transfer the lease in the name of the society formed. It is his duty to build the project and hand it over to the residents’ welfare association (RWA). Until the RWA is formed, the developer maintains the project.
The biggest advantage of buying a property in a project that was built on leasehold land, is that it will be significantly cheaper than buying one that was built on a freehold land or plot (where the developer is the sole and primary owner of the land). In metro cities, developers usually pay a far lesser price for lease a plot in a good location in the city, as opposed to paying a huge amount and buying the land from the primary owner. This financial benefit trickles down to home buyers, as well.
Such leasehold plots, for residential projects, are commonly part of a larger development. This means that the surrounding areas usually have good infrastructure and connectivity.
If you are planning to get a leasehold property, you should know the tenure of the lease. A lease document has all the necessary details of the leasehold property, like the starting date of the lease, its tenure and other terms.\
Leaseholders can extend a lease if they reside in a property for more than two years and there are less than 80 years left on the lease. It is always better to extend the lease sooner, because the nearer the expiry of the lease, the costlier it is to renew.
See also: Types of land ownership
Most leaseholders need to abide by rules and regulations imposed by the owner of the property. Such rules require the leaseholder to take permission of the freeholder for any new development or activity in the property. These rules and regulations are called ‘leasehold restrictions’.
One can go a leasehold property that allows the individual to own the property for a specified time. Ownership of a building or property on leased land is legal in India and investing in such a property is completely safe.
In India, there is provision to convert a leasehold property to a freehold property. For converting a leasehold property into a freehold property, the lessee must acquire the ownership title of the property.
The process of conversion can be done if one has the relevant documents and proofs that includes GPA (General Power of Attorney), a clear sale deed, and a no objection certificate if the land is on mortgage or rented out. Further, one is required to pay conversion charge to the department of land records in the state.
A registered agreement to sell and GPA can be used for conversion of a leasehold property to a freehold property in Delhi. In some cases other document proofs that may be required to complete the procedure are house tax assessment and proof of permanent electricity connection if it is a non-sanctioned building plan.
Insuring a leasehold property is not mandatory by law. However, it is always better for the tenant to insure his room or flat so that their personal belongings are kept safe. It should be noted that though the freeholder is responsible and accountable for the entire property, it does not include your personal items and belongings. You can protect these only through an appropriate insurance policy.
See also: Police verification for rent agreement: is it must?
There are no issues with getting a leasehold property. However, the leaseholder may face difficulties if it is a bad lease. Thus, it is better to go through the terms and conditions of the lease before making a choice.
If the leaseholder breaks the terms and conditions of the lease, the freeholder can move to a court and evict the leaseholder.
Selling a leasehold property is similar to selling any other property. However, some complex paperwork might be involved in selling such properties. It is easier to sell your property if the lease is for a longer period. It might be difficult to get a buyer if the tenure of a leasehold property is short.
Portland, Oregon, is a vibrant, hip city located in the Pacific Northwest. With a population of over 650,000, it is the largest city in Oregon and the 26th largest city in the United States. Portland is known for its eclectic mix of people and its many unique neighborhoods, each with its own character and flavor. The city is also home to a thriving art and music scene, as well as several excellent restaurants and breweries.
There’s no question that many love living in Portland. But what if you’re looking for something a bit more low-key while still remaining close enough to the city to take advantage of all it offers from time to time? Thankfully, there are lots of great cities near Portland that you may want to buy a home or rent an apartment in instead. We’ve collected 6 of those cities near Portland so you can decide what is right for you.
Miles from Portland: 8
Median home sale price: $55,000
Average 1-bed rent: $1,762
Walk Score: 52
Bike Score: 35
Transit Score: 67
Beaverton is home to the Nike World Headquarters. (the city’s largest employer) and is situated in the Tualatin River Valley. The city is known for its scenic beauty, proximity to outdoor recreation, and friendly and welcoming community.
There are many great things to do for those living in Beaverton. For outdoors enthusiasts, there are plenty of hiking and biking trails in the area. The Tualatin River National Wildlife Refuge is a great place to see some of the local wildlife. The Oregon Zoo is also located in Beaverton and is a great place to learn about the animals of the Pacific Northwest. For those interested in the arts, the Beaverton Arts Commission offers a variety of public art displays and events throughout the year. Additionally, the city is home to a variety of shopping, dining, and entertainment options.
Miles from Portland: 10
Median home sale price: $482,000
Average 1-bed rent: $1,940
Walk Score: 41
Bike Score: 34
Transit Score: 59
Vancouver, WA, is a mid-sized city and is known for its rainy weather and proximity to mountains. Originally established in 1825 around Fort Vancouver, a fur-trading outpost, the city is located on the Washington/Oregon border along the Columbia River, directly north of Portland. A fun fact that makes the city special is that city officials have suggested changing the city’s name to Vancouver USA, Fort Vancouver, or Old Vancouver to eliminate confusion between Vancouver and BC.
In the summer, residents living in Vancouver can enjoy hiking and biking trails along the Columbia River Gorge, boating and windsurfing on the river, and golfing at one of the many area courses. The city is also home to several museums and art galleries. If you’re looking for a bite to eat, some of the top restaurants in Vancouver, Washington include The Rockwood, The Painted Table, and Cascadia Public House.
Miles from Portland: 10
Median home sale price: $650,000
Average 2-bed rent: $1,397
Walk Score: 43
Bike Score: 30
Transit Score: 62
Tigard, OR, is a great place to live if you’re looking for a small-city feel with an art-devoted community. With a population of around 54, 000, Tigard is home to the only professional musical theater company in the area, as well as the Festival of Balloons which celebrates the summer season each June.
There are plenty of things to do if you decide to move to Tigard, Oregon. For outdoor enthusiasts, there are plenty of hiking and biking trails to explore. The city also has its own farmers market, where you can buy fresh produce and other goods from local vendors. If you’re looking for a more cultural experience, Tigard is home to the Oregon Museum of Science and Industry.
Miles from Portland: 16
Median home sale price: $501,000
Average 1-bed rent: $1,450
Walk Score: 47
Bike Score: 39
Transit Score: 64
Gresham is a beautiful city with many nature parks and a great view of Mount Hood. Gresham’s historic downtown, dedication to community, and 17 acres of multi-use community parks add to its appeal.
There are many things to do for those living in Gresham. You can go hiking or biking in the Columbia River Gorge, visit the Gresham Butte, or go shopping at the Gresham Town Fair. There are also several great restaurants and bars in the area.
Miles from Portland: 20
Median home sale price: $520,000
Average 1-bed rent: $2,438
Walk Score: 44
Bike Score: 37
Transit Score: 72
Hillsboro, Oregon, is a city located west of Portland that is known for its outdoor recreation, galleries, and museums.
Hillsboro has a lot to offer its residents. The Jackson Bottom Wetlands Preserve, for example, attracts hundreds of birds and bird watchers annually. In addition, there are unique museums that showcase a variety of exhibits from yesteryear and today, such as the Five Oaks Museum and Rice Northwest Museum of Rocks and Minerals. There’s something for everyone living in Hillsboro.
Miles from Portland: 46
Median home sale price: $446,660
Average 1-bed rent: $1,312
Walk Score: 42
Bike Score: 32
Transit Score: 60
Salem is the capital city of Oregon and is located in the northwestern part of the state, in the retile region of Willamette Valley. The valley is home to many of Oregon’s major industries, including agriculture, forestry, and manufacturing. Salem is also a center of government and politics, with the state legislature and governor’s office located in the city. The city has a diverse economy, with a strong healthcare, education, and technology base.
Willamette University and Corban University are both located in Salem, providing opportunities for higher education. There are also several museums in the city, including the Oregon State Police Museum, the Oregon State Penitentiary Museum, and the Hallie Ford Museum of Art. Outdoor enthusiasts will enjoy exploring Salem’s many parks, including Riverfront Park, Minto-Brown Island Park, and Bush’s Pasture Park. Salem is also home to the Oregon Zoo and the A.C. Gilbert’s Discovery Village.
Methodology: All cities must have a population of more than 50,000 and be less than 50 miles away from Portland. Median home sale price data from the Redfin Data Center during August 2022. Average rental data from Rent.com during August 2022. Walk Score, Bike Score, and Transit Score from Walkscore.com during August 2022. Population data sourced from the United States Census Bureau.
The city of Phoenix is renowned for its stunning desert landscapes, excellent hiking, and luxurious hotel resorts. With a population of 1.7 million, it is also the largest city in Arizona and the fifth largest in the United States.
Even with all that Phoenix offers, the city’s cost of living, traffic, and hustle and bustle may have you considering alternative areas to live in. So if you’re not sold on the idea of living in the center of The Valley, we’re here to help. Here are 12 cities near Phoenix that may interest you instead.
Miles from Phoenix: 10
Median home sale price: $440,000
Average 1-bed rent: $1,374
Walk Score: 40
Bike Score: 34
Transit Score: 57
Glendale is the sixth-largest city in the state and is home to several professional sports teams, including the Arizona Cardinals of the National Football League. Glendale is also home to the University of Phoenix Stadium, which hosts several major sporting events, including the upcoming 2023 Super Bowl.
There’s no shortage of things to do while living in Glendale. From exploring museums and parks to dining at delicious restaurants, you’ll find plenty to keep you busy. The Deer Valley Rock Art Center, Westgate Entertainment District, and Saguaro Ranch Park are just a few of the many attractions the city offers.
Miles from Phoenix: 11
Median home sale price: $500,000
Average 1-bed rent: $1,527
Walk Score: 54
Bike Score: 45
Transit Score: 75
Tempe is home to Arizona State University and is adjacent to the city of Phoenix. The city is known for its warm weather, diverse population, and lively downtown scene.
If you decide to move to Tempe, there are plenty of things to do to keep you busy. You can check out the ASU campus and Mill Ave, go shopping at Tempe Marketplace, spend the afternoon jogging or biking around Tempe Town Lake, or take a walk through Papago Park. There’s something for everyone in this vibrant and welcoming city.
Miles from Phoenix: 13
Median home sale price: $810,000
Average 1-bed rent: $2,044
Walk Score: 32
Bike Score: 23
Transit Score: 56
Scottsdale is a beautiful city located in the Sonoran Desert at the foot of the McDowell Mountains, and it is home to many celebrities, retirees, and snowbirds (people who winter in Arizona). The cost of living in Scottsdale is high, but the city offers many amenities and activities, including luxury resorts and spas, golf courses, and vibrant nightlife.
Miles from Phoenix: 14
Median home sale price: $512,500
Average 1-bed rent: $1,520
Walk Score: 30
Bike Score: 19
Transit Score: 47
Peoria is a great city to call home. The cost of living is relatively affordable, and the city has a wide variety of different housing options available. Plus, the area is known for being home to spring training baseball facilities for the Seattle Mariners and San Diego Padres – so you can easily spend the afternoon enjoying a spring training game.
Peoria is also home to several museums, including the Peoria Central School Museum, the West Valley Art Museum, and the Peoria Arizona Historical Society, which are all popular tourist destinations. Other attractions in Peoria include the Arizona Broadway Theatre and the Theater Works, as well as several parks and green spaces, such as the Rio Vista Community Park and the Pioneer Community Park. There’s something for everyone living in Peoria.
Miles from Phoenix: 18
Median home sale price: $430,000
Average 1-bed rent: $1,547
Walk Score: 26
Transit Score: 52
The 1990s brought massive growth to Avondale, AZ, transforming it from farmland into a great place to live. With its location on the banks of the lovely Agua Fria River (which means “Cold Water River” in Spanish), Avondale is a town with something for everyone. Once known as Coldwater, Avondale is a place where you can enjoy the great outdoors, appreciate the arts, and more.
From dining and parks to local history and arts, there’s much to love about this city. Car racing enthusiasts can take advantage of the Phoenix International Raceway, while outdoor enthusiasts can go mountain biking or hike in The Estrella Mountains. If you’re considering moving to Avondale, you won’t regret it.
Miles from Phoenix: 19
Median home sale price: $460,000
Average 1-bed rent: $1,375
Walk Score: 38
Bike Score: 27
Transit Score: 60
Known for its famous for its canals and stunning views of the Superstition Mountains, Mesa is one of the largest cities in Arizona. Even though the city is large, it offers its residents a quiet, suburban lifestyle. With an affordable cost of living as well as top-rated schools and amazing outdoor recreation – it’s no wonder so many people call this city home.
There’s also a lot to do in the Mesa area. For outdoor enthusiasts, there are plenty of hiking and biking trails to take advantage of. For those who enjoy the arts, Mesa is home to the Mesa Arts Center, which hosts a variety of performances and exhibitions.
Miles from Phoenix: 22
Median home sale price: $535,000
Average 1-bed rent: $1,657
Walk Score: 35
Bike Score: 24
Transit Score: 55
Chandler is one of the fastest growing suburbs of the Phoenix area and has countless amenities to offer, everything from affordable housing and great schools to delicious and diverse dining and entertainment options.
Downtown Chandler’s historic district is a great place to stroll, shop, and eat. The district has modern cafes and eateries, as well as the Center for the Arts and iconic shops like Saba’s Western Wear. The district also hosts annual events, from farmers’ markets to yoga in the park. In addition to spending time in the downtown historic center, residents can visit the Arizona Railway Museum, play at the Mesquite Groves Aquatic Center, and spend a family-friendly day climbing throughout the tropical-themed play center at Makutu’s Island. Chandler is also home to an annual Ostrich Festival – which is extremely popular among locals and visitors.
Miles from Phoenix: 22
Median home sale price: $587,000
Average 1-bed rent: $1,641
Walk Score: 29
Bike Score: 15
Transit Score: 53
Gilbert is known for its wide open spaces and rural feel, despite being adjacent to the large metropolitan area of Phoenix. The town has several key landmarks and attractions, including the Riparian Preserve at Water Ranch, the Gilbert Historical Museum, the Hale Centre Theatre, and the Gilbert Temple of The Church of Jesus Christ of Latter-day Saints.
There are many great ways to spend your time if you’re living in Gilbert. You can enjoy local art at Hale Centre Theatre and Higley Center for the Performing Arts. Or you can spend time at a park, like Freestone Park, Cosmo Dog Park, or Islands Community Park. You’ll find plenty of restaurants and charming cafes throughout the city, like Salerno’s Restaurant & Pizzeria, Farm House Restaurant, and Great Wall Chinese Restaurant.
Miles from Phoenix: 29
Median home sale price: $460,000
Average 1-bed rent: $1,625
Walk Score: 21
Transit Score: 46
Surprise began its life as a collection of homes and a single gas station in 1938. Today Surprise is known for hosting one of the largest retirement communities in the southwestern United States.
A fun fact about the city’s original owner and founder, Flora Mae Statler, famously said she “would be surprised if the town ever amounted to anything.” We can assume she would be proud to see how the city has grown. Some of the best things to do in Surprise range from visiting local parks, dining at some of the best restaurants in town, and enjoying local art.
Miles from Phoenix: 35
Median home sale price: $415,000
Walk Score: 13
Transit Score: 38
Situated in the Gila River Valley, Maricopa is the southernmost city of the Phoenix metropolis. The community of Maricopa is one of the oldest and most historic in the state of Arizona. Maricopa is surrounded by beautiful mountain ranges, including the Sierra Estrellas, Palo Verde, Saddleback Mountains, and Haley Hills.
There are many things to do while living in Maricopa. Some of the most popular attractions include the Harrah’s Ak-Chin Casino, the Rawhide Western Town, and the Kofa National Wildlife Refuge.
Miles from Phoenix: 38
Median home sale price: $640,000
Average 1-bed rent: $1,415
Walk Score: 17
Transit Score: 44
The city of Queen Creek, located at the foot of the San Tan Mountains, is known for its rich agricultural roots. The city was once a sleepy, little farming community well into the 20th Century. However, today, the population of Queen Creek stands at around 50,000 people.
There are many things for residents to do in the area, including touring the Queen Creek Olive Mill, picking fruits and vegetables at Schnepf Farms, exploring the Queen Creek Performing Arts Center, hiking or biking in the San Tan Mountain Regional Park, visiting the Queen Creek Wetlands Park, and stargazing at the Boyce Thompson Southwestern Arboretum. There’s something for everyone living in Queen Creek.
Methodology: All cities must have a population of more than 50,000 and be less than 50 miles away from Phoenix. Median home sale price data from the Redfin Data Center during August 2022. Average rental data from Rent.com during August 2022. Walk Score, Bike Score, and Transit Score from Walkscore.com during August 2022. Population data sourced from United States Census Bureau.
Today’s job report came in better than anticipated, with 315,000 jobs created. We did have negative revisions of 107,000 to the prior two reports combined, and the unemployment rate rose to 3.7%. So what does this mean for the labor market and the larger economy?
The job market is still pushing along fine as the need for labor continues in America. Job openings in America are still over 11 million, and the jobless claims data has stabilized in recent weeks. Let’s take a look at the American labor market.
Below are the areas where the report says jobs were created, and the construction job growth data is encouraging to see. Even though the builders are going to stop producing new single-family homes that aren’t already under contracted, they need to have the labor to finish the homes that have been started on or under contract and not started on yet. Also, we must be mindful that multifamily construction has been good this year, with rental demand still solid.
Here is a breakdown of the unemployment rate and educational attainment for those 25 years and older:
—Less than a high school diploma: 6.2%.
—High school graduate and no college: 4.2%
—Some college or associate degree: 2.9%
—Bachelor’s degree and higher: 1.9%
The unemployment rate did increase for those that don’t have a bachelor’s degree or higher. The labor force growth also rose in this report. When people talk about the unemployment rates rising in a positive jobs report, it tends to mean the labor force growth of people looking has also increased, as we have seen today.
If the unemployment rate gets below 3%, I tend to see that as negative, as the labor force growth isn’t very strong. People get fired and hired each month. This is why neither jobless claims nor the unemployment rate can ever really be zero.
For the rest of this century, If productivity stays weak and our labor force growth slows even more, the need for labor will be transparent in parts of the country that lack younger people.
For me, it’s always simple: economics is demographics and productivity, and the rest is stamp collecting. Housing economics is demographics and affordability. But for jobs, we are short of labor in certain parts of the U.S. with an older population pool that is leaving the workforce. Those immigrants and robots that were supposed to take all the jobs haven’t panned out. Job openings are over 11.2 million and much higher than what we had at the end of the great financial recession, which was a tad over 2 million.
Health of the economy?
My sixth recession red flag model was fully raised on the same day as the last jobs report. My model is not designed to be late or raised when we are in a recession: it is created as a progression model to show you the history of economic cycles and when and when not to worry about a recession.
For example, I never had the six recession red flags up in the previous economic expansion from 2010 until COVID-19 hit , which was the longest economic and job expansion in history. The economic data was getting better in late 2019, and in February of 2020, housing broke out.
However, the shock of COVID-9 was way too much to prevent a brief recession. I had to create a recovery model based on a pandemic; that was crazy and then some. However, the America is Back recovery model worked well in 2020, and I retired it on Dec. 9, 2020.
So now that all the recession red flags are raised, what am I looking for? The next stage is to see total consumption demand be hit so negatively that it sends job openings down and jobless claims higher. Then we can call this a U.S. job loss recession, following the pattern of recessions we have had post-World War II.
Why is housing in a recession but not the economy yet? Recessions are very simple to understand. These things tend to fall during a recession, and we are already seeing them fall in housing, just not in the economy.
How does consumption get hit harder? Well, interest rates on credit cards, home equity lines, and mortgage rates are much higher than before 2022. With higher interest rates and higher inflation data, this is a test for the United States consumers, who haven’t been tested this century because the inflation growth rate had been low before 2021.
I will keep tracking more and more on consumption data and jobless claims data at this stage and will no longer be focusing on those six recession red flags. The last flag raised was that the leading economic index fell for the fifth month in a row. The first month was minor, I need to see four to six months of decline to raise it, which I did last month.
Overall, the labor market is running well. Jobless claims under 300,000 using a four-week moving average, still show that we don’t have any real stress in the labor market yet.
Traditionally this data line breaks hard to the upside when we are in an actual recession as companies are forced to fire people to ensure they’re in line with their business goals. We aren’t there yet, but now is the time to be mindful of it. The last time my six recession red flags were up was late in 2006, and the job loss recession didn’t happen until 2008, so we can have some time until the consumer breaks.
The Federal Reserve is using the labor market as cover for their aggressive rate hike language, which I still believe it’s mostly jawboning. Some are saying that they won’t even cut rates during a recession if inflation is high; remember, these people talk a lot to try to communicate to markets. I am telling you this because the Federal Reserve members were very upset that mortgage rates fell and stocks rose. So, they decided to have a united front when talking to the media that they’re serious about raising rates and keeping them higher until inflation falls.
One final note: How can we prevent a recession? History is not on our side once all six recession red flags are up. However, due to the crazy data that this COVID-19 recovery had given us with the wild bullwhip effect of data, I have come up with one plausible theory.
With that in mind, here are the two ways we can avoid this recession:
1. Rates fall to get the housing sector back in line.
2. Growth rate of inflation falls, and the Fed stops hiking rates and reverses course, as it did in 2018.
Can this happen? We have a backdrop that says it can. If the Russian Invasion finds a peaceful resolution and China doesn’t invade Taiwan, then some of the X variable factors are removed with supply distribution. For now, we take the data one day at a time because we want to be the detective, not the troll.
With the housing market in a measurable slowdown, the brokerage feels it necessary to shift strategies. “We want people who are serious about doing well in the real estate business.”
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As the market contracts, one brokerage is setting stricter expectations for its new agents.
Lamacchia Realty, an indie brokerage with offices across New England and South Florida, has updated its Commitment to Success Agreement to better reflect more challenging market conditions, Chief Operating Officer Jackie Louh announced during the brokerage’s August companywide meeting.
The updated agreement is an attempt to deter new agents who take a more relaxed attitude toward the industry, the brokerage CEO Anthony Lamacchia said, an influx of which have taken up real estate since the pandemic.
“In the last two years since Covid a lot of people with the attitude of ‘I want to try real estate’ have come into the business, across the industry across the company,” Broker-Owner Lamacchia said in an interview. “I don’t know if these people were lied to or what, but a lot of them think it’s easy and they think they don’t have to work hard.”
The brokerage’s new commitment to success will be an attempt to outline for newly licensed agents what is expected of them at the agency. Existing agents at the company who have joined within the past two years and have only had a few sales will also be required to sign, the company said in a news release.
“We’re going to people that have joined since 2020, if they have one sale or less we’re going to them too to say ‘hey, you’ve got to agree to this or you’ve got to move on,” Lamacchia said.
He said he expects the agreement will affect his agent count, but that he’s more concerned with attracting high-producing agents and deterring unserious ones.
“We’re not playing games, we want people who are serious about doing well in the real estate business,” he said. “And that’s going to decrease how many new agents we bring in but honestly, that’s on purpose. We only want the cream of the crop.”
The broker-owner said the past few years felt like a slip in standards compared to their previous recruiting practices.
“I look back at how strict we used to be with letting agents in, we used to be very strict and require a lot of things,” he said. “Once we hit Covid and it turned it into a Zoom world it just made it easier for people to join but figure out a way to be slackers — I don’t want slackers.”
With the housing market in a measurable slowdown that has seen sales droop, the brokerage has felt it necessary to shift strategies, Louh said.
“As the market turns the page into a new era, we too as a company are doing the same. We have to tighten our expectations of new agents who are joining us as the easy years of a market upswing are behind us,” Louh said in a statement. “Those that get in now need to be ready to work harder.”
A for-sale sign in front of a home listed for more than $1 million on April 29, 2022 in San Francisco.
Justin Sullivan | Getty Images
Grocery shoppers aren’t the only ones who have to contend with the phenomenon known as “shrinkflation,” which is what happens when the price of something stays the same or gets higher even as the item gets smaller.
Home buyers have to worry about “shrinkflation,” too. The trend is hitting homes, particularly those in the $1 million range, where the size of the homes that buyers are getting for their money is shrinking, according to new research from real estate website Zillow.
It’s one way inflation is hitting the housing market, according to Skylar Olsen, chief economist at Zillow.
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Money will not go as far for homes at any price point, she said. But the $1 million threshold is particularly eye-catching because of the expectations buyers typically place upon it.
“A million dollars isn’t as luxurious as it once was,” Olsen said.
The idea that $1 million is only enough to buy a typical home has been around for awhile in California. Now more and more markets are also experiencing that same sentiment, Olsen said.
More than twice as many $1 million-plus homes were sold this spring compared to two years ago, according to Zillow. The biggest increases happened in Austin, Texas; Portland, Oregon; and Riverside, California.
Yet $1 million homes are getting smaller, according to Zillow listings floor plan data. Those homes peaked at 3,021 square feet in mid-2020 and were down to 2,530 early this year.
However, home size at that price level has now risen to 2,624 square feet, which is still 397 square feet less than from the 2020 high.
Since 2019, the typical home selling for around $1 million has shrunk in nearly every major metropolitan area, Zillow’s analysis found. Today’s $1 million homes tend to have fewer bathrooms and are generally older, the report notes.
The largest declines in size of homes at this price point happened in Phoenix, where they fell about 1,116 square feet, and Nashville, Tennessee, where they saw a 1,019-square-foot decline.
Just two metropolitan areas saw the size of their floor plans increase for $1 million-plus homes in that time. That includes Minneapolis, with an increase of about 36 square feet, or about the size of a closet, and St. Louis, by about 406 square feet, or approximately a room and a half.
Prospective home buyers looking in the $1 million range may get the most for their money in Hartford, Connecticut, where the price per square foot is $205, according to Zillow.
That was followed by other cities in the middle of the country including Indianapolis, with $209 per square foot; Oklahoma City, at $214; Kansas City, Missouri, $221; and Cincinnati, $222.
The highest price per square foot in all the major metropolitan areas tracked by Zillow was San Jose, with about $715. A typical single value home in that city cost more than $1.5 million as of July.
Zillow defines $1 million homes as single-family dwellings that sold between $950,000 and $1.05 million, while $1 million plus homes sold for $1 million or more. The data excludes condominiums.
The recent hot real estate market has led to 72% of recent homebuyers having regrets about their home purchases, a recent survey from Clever Real Estate found. Spending too much money was the most common reason for buyer’s remorse, with 30% of respondents.
However, as the market cools, there are signs prices are coming down, with 1 in 5 sellers dropping their asking prices in August, according to Realtor.com. That may give buyers more opportunity to shop around and get the most value — and square footage — for their money.
“Surround yourself with experts who actually care about your goals and your dreams and also are knowledgeable of the local area,” Danetha Doe, economist at Clever Real Estate, recently told CNBC.
If you are aiming to bring immense positivity and luck to your home, there could be nothing better than opting for a Ganpati idol. According to Hindu mythology, Lord Ganesha is considered a symbol of happiness and joy. He is also known as the protector of households and Ganesha images and idols are often kept near the main door, to protect the occupants from evil energies. However, it is important to place the Ganesha idol at the right place, according to Vastu Shastra.
According to Vastu experts, the west, the north and the north-east direction, are the best places to keep lord Ganesh idols or images at home. Remember, all Ganpati photos should face the north direction, as it is believed that Lord Shiva, who is Ganesha’s father, lives here. You can also keep the Ganesha murti at the main door, facing inside. If you are placing Lord Ganesha images, it should face the main entrance of the home. Do not place the Ganesha idol in the south direction.
Also read all about Pooja room Vastu
|Ganesha idol material for home||Impact|
|Brass Ganesha||Prosperity and joy|
|Wood Ganesha||Good health and long life|
|Crystal Ganesha||Removes Vastu dosha|
|Turmeric idol||Brings good luck and is auspicious|
|Copper Ganesha||Brings luck for couples planning to start families|
|Ganesha idol of mango, peepal and neem||Energy and good luck|
|Cow dung Ganesha||Attracts good fortune and good vibes and eradicates sorrow|
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|Bala Ganesha (child-like form)|
|Taruṇa Ganapati (youthful form)|
|Bhakti Ganesha (devotee form)|
|Veera Ganapati (valiant Ganpati)|
|Shakti Ganapati (the powerful form)|
|Dvija Ganapati (Ganpati who is born twice)|
|Siddhi Gaṇapati (the accomplished form of Ganesha)|
|Ucchhishṭa Gaṇapati (lord of blessed offerings)|
|Vighna Gaṇapati (lord of obstacles)|
|Kshipra Ganapati (Ganesha who is easy to appease)|
|Heramba Gaṇapati (mother’s beloved son)|
|Lakshmi Gaṇapati (the Fortunate one, similar to Goddess Lakshmi)|
|Maha Gaṇapati (the great Ganapati)|
|Vijaya Gaṇapati (the victorious one)|
|Nṛitya Gaṇapati (the dancer form)|
|Urdhva Gaṇapati (the elevated form of Ganapati)|
|Ekakshara Gaṇapati (the single syllable form)|
|Vara/ Varada Gaṇapati (the boon giver)|
|Tryakshara Gaṇapati (the three letters form)|
|Kshipra Prasada Gaṇapati (the one who gives quick reward)|
|Haridra Gaṇapati (the kumkuma coloured Ganapati)|
|Ekadanta Gaṇapati (the single tusked form of Ganapati)|
|Srishṭi Gaṇapati (the creator form)|
|Uddaṇḍa Gaṇapati (the enforcer of dharma/ justice)|
|Riṇamochana Gaṇapati (the liberator from debts)|
|Ḍhuṇḍhi Gaṇapati (the sought after one)|
|Dvimukha Gaṇapati (a form with two heads)|
|Trimukha Gaṇapati (three faced form of Ganpati)|
|Siṇha Gaṇapati (the fearless lion form)|
|Yoga Gaṇapati (the Ascetic form/ one in a yogic posture)|
|Durga Gaṇapati (the invincible one, similar to Goddess Durga)|
|Saṇkaṭahara Gaṇapati (the dispeller of troubles)|
The Hindu god, Ganesha, is known to be the god of auspicious beginnings and is worshipped in 32 different forms, as mentioned above. In India, you will find Ganpati murtis depicted in some of these forms. As per the religious scriptures, lord Ganesha took these forms to save his devotees from diverse issues of life.
The most popular Ganpati photo or idol is the one where the deity is seated or standing. Ganpati images in other forms like the dancing form are usually placed for aesthetic purpose. Also, some Ganapathi photos are rare to find such as the one where the deity’s trunk is straight or up in the air. Images of lord Ganesh with a modak in hand is quite popular. The deity is also known as Pillayar or Vinayagar in south India. Vinayagar images and idols are worshipped during Ganesh Chaturthi in different states in southern India. In Maharashtra, the festival is celebrated for ten days. Ganpati bappa images are adorned and people bring a Ganesh idol or statue home and worshipped. The celebrations conclude by immersing the idol in sea waters.
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When bringing a Ganesh idol for home, remember to notice the posture of the deity. Ideally, the Ganesha images or idol in lalitasana is considered the best. This is also known as sitting Ganesha as it represents a state of calm and peace. Other than this, Ganpati bappa images or Ganesh photos in reclining positions are also considered very lucky as it represents luxury, comfort and wealth.
When choosing a Ganpati statue or idol for your home, it is essential to notice the position of the trunk. As per Vastu, the trunk of the Ganesha idol should be tilted towards the left, as this represents success and positivity. It is believed that the Ganesh idol with a trunk tilted towards the right represents a hard-to-please attitude.
When buying a Ganpati murti for home, make sure a modak and mouse are part of the structure. This is because the mouse is considered as his vehicle while the modak is considered his favourite sweet. This Ganesh murti is ideal for home entrance.
The mouse also represents material desire and our mind, which is full of desire. Although the mouse is small and has tiny teeth, it can continuously nibble and empty out a barn full of grains. The parallel drawn is that there is a ‘mouse’ in all of us – our desires. These desires can eat away even a mountain of goodness within in us.
A mouse, with its tiny sharp teeth, snips and nibbles away at ropes that bind. Hence, the mouse resembles a mantra which can cut through layers of ignorance, leading to the ultimate knowledge and truth represented by Lord Ganesha.
So, it is essential to keep a note of these details when choosing a Ganesh idol for home.
According to Vastu Shastra, a white colour Ganesha idol for home is the perfect choice for occupants who are seeking peace and prosperity. You can also choose white Ganesha colour images. Those who are desirous of self-growth should opt for vermillion-coloured Ganesh murti for home. A white Ganesha attracts wealth, happiness and prosperity. Always remember that the back of the deity should face the outside of the house.
Usually, lord Ganesha is depicted as wearing red and yellow clothes. Ganesha colour is depicted as golden in one of his forms, which is regarded as auspicious.
Nowadays, most people also prefer installing Ganesh wallpaper or wall murals in their homes. This can be an excellent idea to adorn the puja room. However, one should keep the Vastu guidelines in mind when going for these decor ideas with a Ganesh photo.
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According to Vastu experts, you should not keep the Ganesh murti in bedroom, garage or laundry area. It should not be placed under staircases or near bathrooms. Since the garage or car parking area is considered as a vacant area, it is unlucky to place any god in this part of the home. Also, there are a lot of negative energies below staircases which is not suitable for placing any Vastu item.
Keeping a Ganesh statue or picture at home is believed to attract good luck and prosperity. A Ganesh murti is a symbol of perfect life which teaches importance principles such as:
Since most people love Lord Ganesha, they collect or are gifted the Ganesha idol or images. So, a common question is,’How many Ganesh idols should be kept at home?’. According to Vastu, it is advised to keep only one idol in a room. If there are more than one Ganesh idol together, the positive energy is bound to get disrupted.
With the onset of the 10-day Ganesh Chaturthi festival, there are many people who bring the Ganesha idol home. While bringing a new ganpati murti home, the idol’s face is covered and it is unveiled only during its sthapana. The idol, which is brought home during the festival, is then immersed after one-and-a-half days, three days or 10 days, as per the number of days each family follows. As more and more people are becoming environment-conscious, there is an increase in people opting for eco-friendly Ganeshas for home, which get dissolved easily during immersion. Also, there are many options like Ganeshas, which when immersed, grows to become a plant that people are opting for. Choose a small Ganesh murti of you have a small mandir at home and make sure you follow the Vastu guidelines when placing the deity.
As per Vastu Shastra, keeping a White Ganpati photo or idol in the house will attract wealth and prosperity for the family. However, it is essential to follow all the Vastu guidelines when placing the deity. For example, the back of the deity should face outside the house.
It depends on what type of Ganesha idol/image you are placing at the entrance. Refer to this article for more details.
Ganpati idols or images should ideally be placed in the north, north-east, east or west direction, preferably facing the north.
A standing Ganesha idol on the work desk brings enthusiasm to work and helps to overcome obstacles.
Durva grass, which has blades in odd numbers, has a cooling effect on the body and is said to have healing properties. It is believed that the Durva has the power to attract the energies of Lord Ganesha and thus, help the devotee get His blessings.
Red hibiscus is Ganesha’s favourite flower and is offered to please Him and seek His blessings for abundance and success.
It is advised to never place a Ganesha idol in the bedroom, bathroom or even on a wall that is attached to a bathroom. The best place for Ganesh idols is at the entrance of your home.
You can place two photos or idols of Ganesh in the house at two different places. One should avoid keeping more than one murti.
(With inputs from Surbhi Gupta, Purnima Goswami Sharma and Aruna Rathod)