DID YOU KNOW? 31 million small businesses employ over 60 million people, almost half the total U.S. workforce. Here is a website to help small businesses - mostly restaurants - at the onset of the lockdown. It's a wonderful way for individuals to buy gift cards for restaurants in all 50 states. It's brilliant and simple. Here is Medium article describing how Nihal Mehta came up with the idea.
DID YOU KNOW? COMPASS pioneering agent Jason Saft features boldly in this story in the WSJ about the importance of ART in staging. (You need to be a subscriber to see this)
DID YOU KNOW? William Macarthur-Stanham, COMPASS Senior Product Manager /Data Product, shared that flooding is the leading cause of natural-disaster losses in the U.S, averaging $8B annually. Homeowners that live on floodplains have a 1 in 4 chance that their home will experience a major flooding event over the period of a 30-year mortgage. In 2019, a particularly high-incident year, almost 14 million people were impacted by floods and since 1996, 99% of US counties have experienced a flooding event. Soon COMPASS will have FEMA flood maps so you can check easily whether a property is in a flood zone or not. And.....if you live on the 20th floor of a condo, don't forget the neighbors above can flood you too with a burst pipe!
DID YOU KNOW? The UK government has opened a path to citizenship for more than 300,000 Hong Kong residents. A large chunk of highly educated, enterprising immigrants to the UK could spur exceptional economic activity.... (FT)
DID YOU KNOW? The 30-year fixed-rate mortgage dropped to an average of 3.15% during the week ending May 28, a decrease of nine basis points from the previous week, Freddie Mac, the lowest level since Freddie Mac began tracking this data starting in 1971. A year ago, the 30-year fixed-rate mortgage averaged 3.99%.The 15-year fixed-rate mortgage dropped eight basis points to an average of 2.62%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.13%, down four basis points from a week ago. (Marketwatch) The previous record low was set at the end of April, when the average rate on a 30-year home loan dropped to 3.23%. This is now the third time in 2020 when the mortgage market has recorded a new historical low for interest rates.
DID YOU KNOW? By 2018, the New York metro area accounted for 13% of all of the USA’s arts, entertainment and recreation output, up from 9% in 2001, according to the Commerce Department. One out of every 12 museums in America was there, one out of every eight dance companies and one out of every 12 bars or restaurants. (WSJ)
“Don’t bet against New York.” - Bill Rudin, WSJ.
DID YOU KNOW? Between 1900 and 1930—a span that included the Spanish flu pandemic—New York's population doubled from 3.4 million to 6.9 million.
DID YOU KNOW? A majority of American millionaires say they plan to spend less this summer than in years past, according to the Q2 CNBC Millionaire Survey, which polls 750 people with investable assets of $1 million or more. Real estate, new cars and vacations are the expenses they are most likely to put on hold, and many won’t complete those purchases for at least a year. A majority said their assets will be the same or higher at the end of the year, and nearly three quarters say their incomes will be the same or higher. REMEMBER: sentiments change as time passes. (CNBC)
DID YOU KNOW? Big tech companies are hunting for deals at their fastest pace in years, racking up acquisitions and strategic investments despite increased regulatory scrutiny during the coronavirus-led market turmoil. Alphabet, Amazon, Apple, Facebook and Microsoft have announced 19 deals this year, according to Refinitiv data from May 26, representing the fastest pace of acquisitions to this date since 2015. (FT)
Call Ann today for All your Real Estate needs!
YOUR COMPASS AGENT IS LOOKING OUT FOR YOUR BEST INTEREST
Under the Governor's Stay at Home order, a number of businesses are listed as essential. These include real estate firms, appraisers, title companies, movers and others essential to allow home owners to complete the purchase and sale of homes. While we continue to support all of our clients, being cognizant of the need for isolation and social distancing, we are doing all we can to work virtually with our many partners to help our clients successfully navigate during this time of uncertainty. We are here to support you in any way possible.
Virtual Listing Presentations and Photography
We are leveraging virtual tours of properties for a walk through combined with a virtual meeting with our clients.
Showings of Listings with Buyers
In advance of any showing, we are confirming that both buyers and sellers are healthy per CDC guidelines.
Sharing Compass Collections, photography, and video with our buyer clients ensures they have vetted as much digital content as possible in advance and are attending a listing with a lot of knowledge already.
During showings, we are following safety protocols from the CDC, practicing social distancing (6' apart), removing shoes or using shoe covers, asking anyone entering a home to not touch any surface, and sanitizing surfaces upon completion of the showings.
During this current environment, and in an effort not to promote private or public gatherings that are prohibited under the Governor Stay at Home order, we are not recommending any in-person (live) public
open houses. In lieu of live open houses,we are hosting Virtual Open Houses that our agents can live stream to potential buyers and their agents.
Inspections on Properties
Using video calls such as Facetime or Google Hangouts, we are suggesting that only the inspector be allowed into the property to perform the inspection and be sure inspector follows all recommended safety precautions. The inspector will sanitize the home upon completion of their work.Closings
We are working with attorneys and title companies to keep closings to the minimum of attendees necessary and to practice social distancing among those attending.
Preparing our clients for the closing in advance allows them to know what to expect and ensures the closing is carried out successfully.Most title companies are preparing for entirely virtual closings.
Right now we are being reminded of what’s most important in life - the health and well being of our clients, family and friends. Let’s continue to support one another, our loved ones, and our communities during this challenging time. Your Agent and the entire Compass team behind them are here to support you. Please don't hesitate to reach out for counsel or support of any kind. We will get through this, and end up stronger for it on the other side.
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You can also click my signature box below to be directed to my Compass.com website!
Not unlike any other day at Compass, today is gonna be yuuuuuuuuuge!
Our Series G financing round of $370 million in new capital was just announced by Robert on CNBC. This round includes new investor Dragoneer Investment Group, (which has invested in companies like Slack, Uber and DoorDash), as well as long-time partners, such as the Canada Pension Plan Investment Board (CPPIB) and the Softbank Vision Fund, who are reaffirming their continued belief in our strategy and success. This investment brings our total capital raised to over $1.5 billion. Thanks so much to everyone in the Compass Family - those who have been here since DAY 1, those who have joined us recently, and everyone who joined somewhere inbetween - who continue to do extraordinary work every day, who help us build this wonderful place we call home, who strive daily to improve our world as well as our profession. THANK YOU!
DID YOU KNOW? For anyone scratching their head about low government inflation figures as they see rent prices, food prices, healthcare prices, etc rise, know you are not alone.....
Humility is one human attribute I seek most in others. I have found that most truly successful and accomplished people are humble about their achievements, don't brag relentlesly and often mix in some self-deprecating humor to demonstrate to the world that thay are not nearly as important as some might believe.
It is true that success and great achievements have the capacity to erode humility. It is at these times especially that we need our inner triggers - and friends, family and colleagues - to nip what can be a rather ugly human trait in the bud. So with to-day's new funding announcement, pat yourself on the back and know this is an enormous achievement, but be humble about it. Be elegant about it. Roar and yell with glee.....but do so behind closed doors.
Some may argue that all Compass' success could be attributed to our large pool of capital. That may be partly true, yet we should remind ourselves that our competitors - and those who want humans out of the real esatet profession altogether - are equally well funded. Some are far richer with multiple alternative sources of income. We have to compete on the same level. And we will.
In this world, no-one can ever stop learning, growing, improving and learning from their mistakes. Let's all continune to live by our Compass Principles and continue to SOAR!
DID YOU KNOW? There is a growing movement for vegan interior design. This not only excludes the obvious like leather, wool and cowhide rugs, but also most paints that contain casein derived from cows milk. (FT)
DID YOU KNOW? Barney's may be declaring bankruptcy soon as it faces a liquidity crunch spurred by a rent hike at its Manhattan flagship. So far, 7,062 store closures have been announced by U.S. retailers this year, according to Coresight Research. The tally could top 12,000 by the end of 2019, setting a new record. In 2018 there were about 5,524 store closures, down more than 30% from an all-time high of 8,139 closures announced in 2017. (CNBC)
DID YOU KNOW? Sonder, a company that straddles the ever-blurring line between hospitality and multifamily real estate, has secured major funding for its continued expansion. Sonder leases blocks of apartments from multifamily landlords, furnishes them and customizes them to rent for stays as short as one night and as long as several months. The units, called Sonders, come in a range of properties from row houses to high-rises and are serviced like hotel rooms. (Bisnow)
DID YOU KNOW? Texas’ top 3 office markets - Houston, Dallas-Fort Worth and Austin - housed roughly 104M SF of the 430M SF of new U.S. office space that came online during the last decade. Dallas-Fort Worth, Austin and Houston accounted for 24% of the nation’s new office construction pipeline during the 10-year span running from 2009 onward. (COSTAR)
Call the Pancotto Group for all your Real Estate needs... Work a group with great integrity, knowledge and expertise with over 27 years of experience in every area of the Real Estate Industry all over the Chicagoland Area! https://PancottoRealEstate.com Call me today!