WASHINGTON --
A weak June jobs report offered the latest evidence that the economic recovery is slowing.
Employers cut 125,000 jobs last month, the most since October, the Labor Department said Friday. The loss was driven by the end of 225,000 temporary census jobs. Businesses added a net total of 83,000 workers, the sixth straight month of private-sector job gains but not enough to speed up the recovery.
Unemployment dropped to 9.5 percent - the lowest level since July 2009 - from 9.7 percent. But the reason for the decline was more than 650,000 people gave up on their job searches and left the labor force. People who are no longer looking for work aren't counted as unemployed.
The latest figures suggest businesses are still slow to hire amid a weak economic recovery. Many economists were hoping to see more private-sector job growth, which would fuel the economy by boosting consumers' ability to spend.
"It could have been worse, but it wasn't good," said Nigel Gault, chief U.S. economist at IHS Global Insight, an economic forecasting firm. "It's adding to the evidence that growth has slowed."
People left the work force "because they think there's nothing out there," he added.
In a separate report, factory orders fell by 1.4 percent in May, the Commerce Department said. It was the first decline after nine months of gains and the biggest drop since March 2009.
The reports follow a slew of data and developments this week that point to slower growth in the months ahead.
In May, home sales plunged and construction spending dropped after a popular homebuyers' tax credit expired on April 30. Consumer confidence has fallen sharply. The European debt crisis has sent U.S. financial markets downward, lowering household wealth. And more than a million jobless Americans have been cut off from unemployment benefits after Congress adjourned for a weeklong Independence Day recess without extending federal aid.
President Barack Obama said the economy is moving in the right direction, but not quickly enough. He seized on the latest data to push for more government stimulus - including the extension of jobless benefits - to aid the recovery.
"We're not headed there fast enough for a lot of Americans," Obama said. "We're not headed there fast enough for me, either."
The unemployment rate and payroll figures can sometimes move in different directions because they are calculated from different surveys. The jobless rate is derived from a survey of households, while the payroll calculation is drawn from a separate survey of businesses.
The nation still has 7.9 million fewer private payroll jobs than it did when the recession began. The private sector has added an average of 98,000 jobs per month since the beginning of the year. At that rate, it would take nearly seven years to regain the jobs lost during the recession.
It takes about 100,000 new jobs a month to keep up with population growth. The economy needs to create jobs at least twice that pace to quickly bring down the jobless rate.
All told, 14.6 million people were looking for work in June. Counting those who have given up their job searches and those who are working part time but would prefer full-time work, the underemployment rate edged down to 16.5 percent from 16.6 percent in May.
Manufacturers, which have been a key source of job growth in the recovery, are hiring fewer people. Factories added 9,000 jobs in June, down from 32,000 in May and the lowest gain this year.
The leisure and hospitality industries, temporary staffing agencies, and education and health services providers also added jobs. Retailers, construction firms and financial service providers cut payrolls.
Private employers added only 33,000 jobs in May, the department said, below an earlier estimate of 41,000. April private-sector payrolls were revised up to show a total gain of 241,000 jobs, higher than the earlier estimate of 218,000.
The Census Bureau added more than 400,000 workers in May to assist with the 2010 employment count, but most of those jobs lasted only six to eight weeks. Economists expect that census layoffs will impact the payroll data for several more months, but not by nearly as much.
The average work week shortened to 34.1 hours from 34.2, the government said, a disappointing drop after three months of gains. Hourly wages also fell by two pennies to $22.53. The declines mean workers earned less money in the last month.
In addition, the drop in hours is a bad sign because employers are likely to cut hours for their current workers before reducing payrolls.
The employment report comes after Congress adjourned Thursday for the weeklong Independence Day recess without extending jobless aid. That has already left 1.3 million people without benefits. Senate Republicans blocked the extension, citing concerns over the federal deficit. That total number of Americans cut off from benefits could grow to 3.3 million by the end of this month if the impasse isn't resolved when Congress returns
Friday, July 2, 2010
Thursday, July 1, 2010
Help us support the Freedom for Hunger cause! Bill Oliver of Dream Catcher Home Inspections will donate 25$ on every inspection done by a Shorewest Realtor!! What a guy!
Contact Bill for ALL your home inspection needs at:
262-650-9786 office
414-339-1876 vm
Website: http://ping.fm/Q2uxQ
Contact Bill for ALL your home inspection needs at:
262-650-9786 office
414-339-1876 vm
Website: http://ping.fm/Q2uxQ
More Updates Following the Tax Credit. (Flood Insurance Extension)
Flood Insurance Extension- The Senate has passed HR 5569 which extends the National Flood Insurance Program until September 30, 2010. The bill is retroactive from June 1, 2010 to the date the President also signs this bill.
We had been at a point where getting flood insurance on properties was next to impossible.
USDA- There is still no decision on the USDA extension. They are concerned about the 100% financing. More to come on this after the July 4th recess.
We had been at a point where getting flood insurance on properties was next to impossible.
USDA- There is still no decision on the USDA extension. They are concerned about the 100% financing. More to come on this after the July 4th recess.
Tax Credit Extension Passes!!
After a close brush with the deadline, Congress has passed an extension
of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance
and Improvement Act (H.R. 5623). The extension applies only to
transactions that have ratified contracts in place as of April 30, 2010
that have not yet closed. The legislation is designed to create a
seamless extension the new closing deadline for eligible transactions is
now September 30, 2010. There will be no gap between June 30 and the
date the President signs the bill into law.
NAR worked closely with Congressional leaders on both sides of the aisle
to enact this important legislation. Extending the Tax Credit Closing
deadline will help provide additional stability to real estate markets
across the nation.
The GMAR sent out a notice earlier that the credit had failed to pass. The bill that failed to pass (HR 4213) was an unemployment bill with the tax credit as an amendment. H.R. 5623 was a standalone bill. We apologize for any confusion.
of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance
and Improvement Act (H.R. 5623). The extension applies only to
transactions that have ratified contracts in place as of April 30, 2010
that have not yet closed. The legislation is designed to create a
seamless extension the new closing deadline for eligible transactions is
now September 30, 2010. There will be no gap between June 30 and the
date the President signs the bill into law.
NAR worked closely with Congressional leaders on both sides of the aisle
to enact this important legislation. Extending the Tax Credit Closing
deadline will help provide additional stability to real estate markets
across the nation.
The GMAR sent out a notice earlier that the credit had failed to pass. The bill that failed to pass (HR 4213) was an unemployment bill with the tax credit as an amendment. H.R. 5623 was a standalone bill. We apologize for any confusion.
Wednesday, June 30, 2010
Communicating with Difficult Clients
Difficult Clients -- You know who they are.
When your Difficult Client’s number appears on your cell phone or their email address pops up in your inbox, your stomach clenches in anticipation of an unpleasant exchange to come. Your Difficult Clients are always angry, upset, or complaining, and nothing you do or say seems to please them. You’re at your wit’s end, and you can’t remember why you agreed to work with them in the first place!
It’s time to shift into Difficult Clients Mode. Instead of casual conversation, use the points below to script your arguments before delivering them. Complete a first draft, let it sit a few hours or overnight, and then fine-tune the wording carefully.
First, remove the first person singular pronouns (I, me, my, mine). Wherever possible, substitute your statements with the first person plural (we, us, our, ours). Using “we” reinforces the fact that you are all on the same team. So instead of, “I’ll get an answer to your request,” say “We’ll see how the buyers respond to our request.”
Another way to remove first person pronouns is to change to passive voice. So instead of “I presented your proposal but the Sellers said no,” say “Our proposal was rejected by the Sellers.”
Absolutely, you should use the first person singular when you make a promise, such as “I’ll have that information for you by five o’clock”; or when you accept personal responsibility and need to say, “I’m sorry.” In most other cases, however, you are better off leaving “I” out of your communication.
Without first person pronouns, you are less vulnerable to attack. Just using a rhetorical device like “I think,” or “I believe,” or “I’m afraid that,” can inspire a challenge from Difficult Clients. They might say, “On what authority do you think, believe, or fear?” In other words, “Who do you think you are?” Difficult Clients look for opportunities to challenge your competence and authority; it’s prudent to reduce those opportunities when you can.
Second, offer facts rather than opinions. Ugly truth sounds more palatable when it comes from an objective source, rather than inf the form of your personal thoughts or observations. Instead of, “I’m afraid sellers aren’t getting what they used to,” say, “In this market, homes can’t command the price they would have gotten three years ago.” Cite an authority if you can, and statistics are always good. You might say, “According to our MLS data, prices in this area have fallen 12.5% since the peak in 2006.”
Third, be as succinct as possible. Do not elaborate or explain. Avoid extraneous information, especially personal information. So instead of, “I can’t meet you tomorrow because it’s my wife’s birthday,” say, “Unfortunately, tomorrow won’t be possible. Let’s find a time later in the week.”
Fourth, don’t respond to “rabbit trails.” When an extraneous topic is introduced, say “I understand how you feel,” and then turn the conversation immediately back to the issue at hand. So if, during negotiations, your Difficult Client Seller wants to remind you (again) how much they paid to convert the basement, say “I understand how you feel. However, this is the first offer we’ve received and we need to decide how to respond.”
Fifth, focus on the benefits to them of compliance and the disadvantages to them of noncompliance. Difficult Clients have no interest in anyone else’s point of view. If you try to explain that their demands are unreasonable or unfair to the other party, you’ll find yourself accused of being “on their side.” Say “I know it’s less than you hoped for, but accepting this offer will mean that you can move forward with your plans. If you turn it down, we may wait a long time before we get another one.” Don’t mention all your hard work or the updates the buyer will have to pay for. Difficult Clients have only one perspective -- their own.
The last point is crucially important: Decline to participate in drama, verbal or written. Stay calm. Keep your face impassive and your mouth closed. Of course, this is easier said than done when you’re being attacked, but tantrums are hard to sustain when no one is fighting back. Don’t respond to accusations in writing; an email exchange will tend to escalate. Instead, pick up the phone and ask them to explain how they feel and why. Difficult Clients are coming from emotion, not from logic; that’s what makes them Difficult. If you can figure out why they’re upset, you may be able to soothe their fear or anger.
Communicating in Difficult Clients Mode will feel awkward at first, but with time and practice, it gets easier. Nothing will make your Difficult Clients into Reasonable People, but learning to communicate effectively with them will go a long way to reducing conflict and moving their transaction toward a happy conclusion.
When your Difficult Client’s number appears on your cell phone or their email address pops up in your inbox, your stomach clenches in anticipation of an unpleasant exchange to come. Your Difficult Clients are always angry, upset, or complaining, and nothing you do or say seems to please them. You’re at your wit’s end, and you can’t remember why you agreed to work with them in the first place!
It’s time to shift into Difficult Clients Mode. Instead of casual conversation, use the points below to script your arguments before delivering them. Complete a first draft, let it sit a few hours or overnight, and then fine-tune the wording carefully.
First, remove the first person singular pronouns (I, me, my, mine). Wherever possible, substitute your statements with the first person plural (we, us, our, ours). Using “we” reinforces the fact that you are all on the same team. So instead of, “I’ll get an answer to your request,” say “We’ll see how the buyers respond to our request.”
Another way to remove first person pronouns is to change to passive voice. So instead of “I presented your proposal but the Sellers said no,” say “Our proposal was rejected by the Sellers.”
Absolutely, you should use the first person singular when you make a promise, such as “I’ll have that information for you by five o’clock”; or when you accept personal responsibility and need to say, “I’m sorry.” In most other cases, however, you are better off leaving “I” out of your communication.
Without first person pronouns, you are less vulnerable to attack. Just using a rhetorical device like “I think,” or “I believe,” or “I’m afraid that,” can inspire a challenge from Difficult Clients. They might say, “On what authority do you think, believe, or fear?” In other words, “Who do you think you are?” Difficult Clients look for opportunities to challenge your competence and authority; it’s prudent to reduce those opportunities when you can.
Second, offer facts rather than opinions. Ugly truth sounds more palatable when it comes from an objective source, rather than inf the form of your personal thoughts or observations. Instead of, “I’m afraid sellers aren’t getting what they used to,” say, “In this market, homes can’t command the price they would have gotten three years ago.” Cite an authority if you can, and statistics are always good. You might say, “According to our MLS data, prices in this area have fallen 12.5% since the peak in 2006.”
Third, be as succinct as possible. Do not elaborate or explain. Avoid extraneous information, especially personal information. So instead of, “I can’t meet you tomorrow because it’s my wife’s birthday,” say, “Unfortunately, tomorrow won’t be possible. Let’s find a time later in the week.”
Fourth, don’t respond to “rabbit trails.” When an extraneous topic is introduced, say “I understand how you feel,” and then turn the conversation immediately back to the issue at hand. So if, during negotiations, your Difficult Client Seller wants to remind you (again) how much they paid to convert the basement, say “I understand how you feel. However, this is the first offer we’ve received and we need to decide how to respond.”
Fifth, focus on the benefits to them of compliance and the disadvantages to them of noncompliance. Difficult Clients have no interest in anyone else’s point of view. If you try to explain that their demands are unreasonable or unfair to the other party, you’ll find yourself accused of being “on their side.” Say “I know it’s less than you hoped for, but accepting this offer will mean that you can move forward with your plans. If you turn it down, we may wait a long time before we get another one.” Don’t mention all your hard work or the updates the buyer will have to pay for. Difficult Clients have only one perspective -- their own.
The last point is crucially important: Decline to participate in drama, verbal or written. Stay calm. Keep your face impassive and your mouth closed. Of course, this is easier said than done when you’re being attacked, but tantrums are hard to sustain when no one is fighting back. Don’t respond to accusations in writing; an email exchange will tend to escalate. Instead, pick up the phone and ask them to explain how they feel and why. Difficult Clients are coming from emotion, not from logic; that’s what makes them Difficult. If you can figure out why they’re upset, you may be able to soothe their fear or anger.
Communicating in Difficult Clients Mode will feel awkward at first, but with time and practice, it gets easier. Nothing will make your Difficult Clients into Reasonable People, but learning to communicate effectively with them will go a long way to reducing conflict and moving their transaction toward a happy conclusion.
Tuesday, June 29, 2010
Wisconsin Unemployment Rate Drops To Year Low (40,000 Jobs Added In May, Report Shows)
MADISON, Wis. -- Wisconsin's unemployment rate dropped to 8.2 percent in May, its lowest level in more than a year.
The state Department of Workforce Development released the seasonally adjusted number on Thursday. Democratic Gov. Jim Doyle said the lower rate reflects the hard work being done to recover from the recession.
The monthly report shows that Wisconsin added more than 40,000 jobs in May.
Unemployment was 8.5 percent in April. The May rate is the state's lowest since March 2009.
The national seasonally adjusted unemployment rate for May was 9.7 percent.
The state Department of Workforce Development released the seasonally adjusted number on Thursday. Democratic Gov. Jim Doyle said the lower rate reflects the hard work being done to recover from the recession.
The monthly report shows that Wisconsin added more than 40,000 jobs in May.
Unemployment was 8.5 percent in April. The May rate is the state's lowest since March 2009.
The national seasonally adjusted unemployment rate for May was 9.7 percent.
Pricing to sell in today's market
Putting yourself in the right mindset to sell is essential. It's the most difficult aspect of selling for most sellers. Your home is worth what a buyer is willing to pay, which may not be what you think it is worth.
Detaching yourself emotionally from your home is difficult. Clearing out years of clutter, depersonalizing your home by removing personal memorabilia, and staging your home for sale can help you step back and view the home as a commodity that needs to be sold rather than as your personal sanctuary.
Putting your home on the market at a price that reflects what you want and not what the market will bear can cost you time and money as it sits on the market unsold.
The home-sale market is a localized phenomenon. The only way to get a clear picture of what your home is likely to sell for is to find out which listings are selling in your neighborhood and for how much.
The most recent sales -- those that closed within the last three months -- will be the most informative. Be sure to take a hard look at the list prices of homes that are new on the market.
If the list prices are lower than they were two or three months ago, this indicates that prices are declining. This needs to be taken into account when you select a list price.
HOUSE HUNTING TIP: Pay close attention to your competition. Don't fall into the trap of pricing your home higher than your neighbor's home because yours is better. If your neighbor's price is too high for the market, neither of your homes will sell.
Ask your listing agent to call the listing agents of properties similar to yours to find out what kind of showing activity they are receiving. Have they had offers? If so, why weren't they accepted? Was the price too low? If so, you should set your sights lower.
Some listing agents recommend that you list considerably under market value in order to stimulate multiple offers. In some cases, this can be an effective strategy.
For example, in the low-end foreclosure market, this was common practice at the end of last year. Some listings priced way below market value received more than a dozen offers.
However, it can be risky to price significantly lower than market value on a more expensive property for which the demand is lower. You could end up with more than one offer, but you could also receive under-market price offers.
Your home needs to be perceived as a good value to a buyer to sell in this market. However, you could shortchange yourself by discounting the price too much.
Your home is most marketable when it is new on the market. Buyers wait anxiously for the new crop of listings. Listings that don't sell relatively quickly often languish on the market.
Price reductions often follow as the sellers try to find market value. A listing that has been on the market for months is likely to receive a low offer -- if a buyer makes any offer.
A listing that receives a lot of showing activity when it first hits the market but gets no offers is probably overpriced for the market. In this case, it's best to lower the price to market value as soon as possible while the listing is still fresh in agents' and buyers' minds, even if this is within two to four weeks of the listing date.
THE CLOSING: Listings in neighborhoods where sales activity is slim require a longer marketing period. Even so, pricing right for the market is imperative.
Detaching yourself emotionally from your home is difficult. Clearing out years of clutter, depersonalizing your home by removing personal memorabilia, and staging your home for sale can help you step back and view the home as a commodity that needs to be sold rather than as your personal sanctuary.
Putting your home on the market at a price that reflects what you want and not what the market will bear can cost you time and money as it sits on the market unsold.
The home-sale market is a localized phenomenon. The only way to get a clear picture of what your home is likely to sell for is to find out which listings are selling in your neighborhood and for how much.
The most recent sales -- those that closed within the last three months -- will be the most informative. Be sure to take a hard look at the list prices of homes that are new on the market.
If the list prices are lower than they were two or three months ago, this indicates that prices are declining. This needs to be taken into account when you select a list price.
HOUSE HUNTING TIP: Pay close attention to your competition. Don't fall into the trap of pricing your home higher than your neighbor's home because yours is better. If your neighbor's price is too high for the market, neither of your homes will sell.
Ask your listing agent to call the listing agents of properties similar to yours to find out what kind of showing activity they are receiving. Have they had offers? If so, why weren't they accepted? Was the price too low? If so, you should set your sights lower.
Some listing agents recommend that you list considerably under market value in order to stimulate multiple offers. In some cases, this can be an effective strategy.
For example, in the low-end foreclosure market, this was common practice at the end of last year. Some listings priced way below market value received more than a dozen offers.
However, it can be risky to price significantly lower than market value on a more expensive property for which the demand is lower. You could end up with more than one offer, but you could also receive under-market price offers.
Your home needs to be perceived as a good value to a buyer to sell in this market. However, you could shortchange yourself by discounting the price too much.
Your home is most marketable when it is new on the market. Buyers wait anxiously for the new crop of listings. Listings that don't sell relatively quickly often languish on the market.
Price reductions often follow as the sellers try to find market value. A listing that has been on the market for months is likely to receive a low offer -- if a buyer makes any offer.
A listing that receives a lot of showing activity when it first hits the market but gets no offers is probably overpriced for the market. In this case, it's best to lower the price to market value as soon as possible while the listing is still fresh in agents' and buyers' minds, even if this is within two to four weeks of the listing date.
THE CLOSING: Listings in neighborhoods where sales activity is slim require a longer marketing period. Even so, pricing right for the market is imperative.
Monday, June 28, 2010
1.7 million iPhones sold in 3 days
Apple breaks another launch record with the iPhone 4
Photo: Apple Inc.
Despite long lines, product stockouts and reports of reception issues, Apple (AAPL) engineered another huge launch last weekend. This just in from Apple PR:
Apple® today announced that it has sold over 1.7 million of its iPhone® 4 through Saturday, June 26, just three days after its launch on June 24. The new iPhone 4 features FaceTime®, which makes video calling as easy as one tap, and Apple's new Retina display, the highest resolution display ever built into a phone, resulting in stunning text, images and video.
"This is the most successful product launch in Apple's history," said Steve Jobs, Apple's CEO. "Even so, we apologize to those customers who were turned away because we did not have enough supply."
By comparison, it took Apple three days to sell 1 million units each of the iPhone 3GS in 2009 and the iPhone 3G in 2008, and 72 days to sell 1 million units of the original iPhone in 2007.
Commenting on the news in a note to clients, Piper Jaffray's Gene Munster saw several "catalysts" ahead for Apple's fourth fiscal quarter, which began on Sunday:
•An estimated 200,000 iPhones pre-ordered after Apple pushed the delivery date past the end of the third quarter
•The launch of the white iPhone 4 in July
•The launch in 83 additional countries by the end of September
The iPhone 4, Munster writes, is "off to a very strong start."
Photo: Apple Inc.
Despite long lines, product stockouts and reports of reception issues, Apple (AAPL) engineered another huge launch last weekend. This just in from Apple PR:
Apple® today announced that it has sold over 1.7 million of its iPhone® 4 through Saturday, June 26, just three days after its launch on June 24. The new iPhone 4 features FaceTime®, which makes video calling as easy as one tap, and Apple's new Retina display, the highest resolution display ever built into a phone, resulting in stunning text, images and video.
"This is the most successful product launch in Apple's history," said Steve Jobs, Apple's CEO. "Even so, we apologize to those customers who were turned away because we did not have enough supply."
By comparison, it took Apple three days to sell 1 million units each of the iPhone 3GS in 2009 and the iPhone 3G in 2008, and 72 days to sell 1 million units of the original iPhone in 2007.
Commenting on the news in a note to clients, Piper Jaffray's Gene Munster saw several "catalysts" ahead for Apple's fourth fiscal quarter, which began on Sunday:
•An estimated 200,000 iPhones pre-ordered after Apple pushed the delivery date past the end of the third quarter
•The launch of the white iPhone 4 in July
•The launch in 83 additional countries by the end of September
The iPhone 4, Munster writes, is "off to a very strong start."
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About Me
- Ty Jakoblich- Realtor
- Waukesha, Southeastern WI, United States
- I am a life long resident of the Waukesha and Milwaukee county area. I have a goal set out to help as many families reach their real estate goals and dreams. Seasoned in all aspects of real estate including residential, commercial, multi-family, business opportunites and vacant lots. I am an Accredited Buyers Representative (ABR) A Accredited Staging Proffessional (ASP) A Shorewest Certified Relocation Specialist (SCRS) As well as a Short Sale and Foreclosure Representative (SFR) And as a Broker's Associate I have a higher knowledge and experience than your typical sales associate. Buying and Selling a home can be a very exciting time in many people's lives. I am here to make sure you reach your goals, and make sure the process is simple, quick and smooth, and most importantly FUN!