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Best Practices in Sales & Marketing
Illinois real estate firm keeps it all in the family Steve and Jessica Devore, owners of Green Acres Real Estate in Illinois, urged their son Gavin to pursue his real estate license while he was still in high school, and now the 18-year-old is a licensed REALTOR®. Gavin Devore notes that though online sites help, people still prefer real estate professionals who can show houses in person, advise clients and see them through the homebuying process. Full Story: WGLT-FM (Normal, Ill.) (7/25)
$500M update underway at historic Miami housing project Miami's historic Liberty Square housing project is undergoing redevelopment as a mixed-income community. Related Group and Miami-Dade County have partnered to invest $500 million to develop 1,900 housing units, approximately one-third of which are already completed. Full Story: The Wall Street Journal (7/26)
Pandemic rescue funds support affordable housing The U.S. Treasury Department has announced a new policy permitting local jurisdictions to use coronavirus relief funds to increase affordable housing. This means that some of the $350 billion State and Local Fiscal Relief Fund can help pay for affordable housing projects, especially those that qualify for the Low-Income Housing Tax Credit. Full Story: Reuters (7/27)
Legislation & Regulation
Concerns shift from inflation to recession as rate hikes loom Another large interest rate hike is expected this week as the Federal Reserve aims to quell inflation, and though Chair Jerome Powell has largely sought to present the central bank as flexible, recent comments suggest the Fed may be willing to trigger a recession to curb inflation. Market watchers are wondering how far a hawkish Fed might go as signs appear that inflation is slowing and other data points indicate a slowing economy. Full Story: The New York Times (7/25)
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The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
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