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Clarocity Corporation, a provider of real estate valuation solutions, announced recently that it launched Clarocity Valuation Services, which will serve as the distributor of Clarocity’s valuation products. According to the Clarocity Corp., ClarocityVS was formed by merging Valuation Vision and Valued Veterans. …read more
From:: Real Estate Wire
U.S. stock-market indexes closed mostly higher on Monday, with the Dow industrials taking back some ground after the worst two-day drop in nearly a year. The Dow Jones Industrial Average switched between small gains and losses, ending the session 29.24 points, 0.1%, higher at 21,703.75, helped by a rally in shares of Home Depot Inc. ,which rose 1.2%. The S&P 500 closed 2.82 points, or 0.1%, higher at 2,428.37 amid light trading volume. Analysts said the tepid moves on Wall Street were due to geopolitical tensions and ongoing political turmoil in Washington. The Nasdaq Composite index closed 3.4 points, or less than 0.1% lower, at 6,213.13. Among the worst performers on Wall Street, Foot Locker Inc. fell more than 7%, adding to a 28% slide on Friday. The company has lost nearly 40% of its value since the start of the year.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Analysts anticipate the economy will weather turbulence expected in the second half of the year, according to Fannie Mae’s Economic & Strategic Research (ESR) Group’s recently released Economic and Housing Outlook for August 2017. The Outlook maintains the economy will grow 2.0 percent over the course of the year, even with possible setbacks on the horizon.
“We are keeping our full-year economic growth outlook at 2.0 percent, as risks to our forecast are roughly balanced,” says Doug Duncan, chief economist at Fannie Mae. “On the upside, consumer spending growth might not moderate as much as we have accounted for in our forecast. A build-up in inventory also should be positive for growth this quarter and nonresidential investment in structures will likely continue to improve as oil prices stabilize. In addition, the decline in the dollar and a pick-up in global growth should support manufacturing and exports, although the outlook for the trade sector is clouded by uncertainty surrounding trade policy.”
An impending government shutdown and political unrest could hinder economic growth, Duncan says, but not enough to slow its present momentum.
“Headwinds include tax policy uncertainty that could delay business investment, the risk of a partial government shutdown this fall if Congress fails to pass spending appropriations, a technical default if the debt ceiling isn’t raised, and an increase in global political unease,” says Duncan. “However, we believe these headwinds and tailwinds essentially net out overall, and we stand by our view that economic growth will remain on track for 2.0 percent in 2017.”
Consumers expect their spending to rise 2.82 percent over the next year, a forecast slightly lower than what they projected in June, according to the Federal Reserve Bank of New York’s Survey of Consumer Expectations (SCE) for July.
Experts recently surveyed by Zillow, in addition, expect a “geopolitical crisis” to act as a catalyst for the next recession, to happen by 2020.
The economy expanded 1.9 percent during the first half of the year, the ESR reports, moderately below expectations.
Source: Fannie Mae
Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.
For the latest real estate news and trends, bookmark RISMedia.com.
The post Economy to Weather Turbulence in Second Half of Year appeared first on RISMedia.
From:: Real Estate News
Analysts anticipate the economy will weather turbulence expected in the second half of the year, according to Fannie Mae’s Economic & Strategic Research (ESR) Group’s recently released Economic and Housing Outlook for August 2017. The Outlook maintains the economy will grow 2.0 percent over the course of the year, even with possible setbacks on the horizon.
“We are keeping our full-year economic growth outlook at 2.0 percent, as risks to our forecast are roughly balanced,” says Doug Duncan, chief economist at Fannie Mae. “On the upside, consumer spending growth might not moderate as much as we have accounted for in our forecast. A build-up in inventory also should be positive for growth this quarter and nonresidential investment in structures will likely continue to improve as oil prices stabilize. In addition, the decline in the dollar and a pick-up in global growth should support manufacturing and exports, although the outlook for the trade sector is clouded by uncertainty surrounding trade policy.”
An impending government shutdown and political unrest could hinder economic growth, Duncan says, but not enough to slow its present momentum.
“Headwinds include tax policy uncertainty that could delay business investment, the risk of a partial government shutdown this fall if Congress fails to pass spending appropriations, a technical default if the debt ceiling isn’t raised, and an increase in global political unease,” says Duncan. “However, we believe these headwinds and tailwinds essentially net out overall, and we stand by our view that economic growth will remain on track for 2.0 percent in 2017.”
Consumers expect their spending to rise 2.82 percent over the next year, a forecast slightly lower than what they projected in June, according to the Federal Reserve Bank of New York’s Survey of Consumer Expectations (SCE) for July.
Experts recently surveyed by Zillow, in addition, expect a “geopolitical crisis” to act as a catalyst for the next recession, to happen by 2020.
The economy expanded 1.9 percent during the first half of the year, the ESR reports, moderately below expectations.
Source: Fannie Mae
Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.
For the latest real estate news and trends, bookmark RISMedia.com.
The post Economy to Weather Turbulence in Second Half of Year appeared first on RISMedia.
From:: Finance and Economy
RE/MAX announced a “refresh” of its brand identity on Monday, including an update to its iconic balloon logo and wordmark. The changes will appear in advertising and on office fronts and yard signs in the months ahead, as well as in TV ads and on remax.com this fall.
“Our new look better represents the enthusiastic entrepreneurs who comprise our network,” says Adam Contos, co-CEO of RE/MAX. “Great brands evolve and RE/MAX is no different. We believe the updated balloon and wordmark will help our agents grow their business and give them an even bigger competitive advantage in digital, social media and mobile marketing.”
RE/MAX’s red, white and blue hot air balloon is now “brighter, more modern and more appealing to homebuyers and sellers of today,” according to a release from the company. The refresh, which was developed with feedback from more than 20,000 consumers, is the first-ever update to the 44-year-old company’s brand identity.
“It’s a brand evolution, not a brand revolution,” says Pete Crowe, senior vice president of Communications and Marketing at RE/MAX. “The subtle adjustments to the most powerful image in real estate was a natural next step across our residential, luxury and commercial brands.
“Buyers who are 36 years old and younger continue to purchase homes at a higher rate than other age groups,” Crowe says. “At the same time, real estate tools and technologies have drastically changed the way we help people buy and sell houses. The refreshed brand is a proactive move to continue to position RE/MAX agents as industry leaders for the homebuyers and sellers of today and tomorrow.”
RE/MAX plans to celebrate the refresh through local events held for its affiliates worldwide on September 20.
The announcement was made at the annual RE/MAX Broker/Owner Conference, taking place this week in San Francisco, Calif.
For more information, please visit www.remax.com.
Go inside RE/MAX’s refresh in the upcoming issue of Real Estate magazine, coming soon to RISMedia.com.
For the latest real estate news and trends, bookmark RISMedia.com.
The post RE/MAX Reintroduces Brand With Fresh Logo appeared first on RISMedia.
From:: Real Estate News
Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:
Located in the old gold and silver mining town of Tonopah, Nev., this Clown Motel is most certainly not the place for people suffering from coulrophobia (a.k.a., the fear of clowns). Not only is the lobby filled with hundreds of assorted clowns, from figurines and wall art to assorted trinkets, but each and every room is clown themed, as well.
Freaky enough for ya? It gets worse.
The motel shares a lot with a cemetery full of gold miners who died from a plague. The cemetery is literally right next door. It’s like a real-life horror film. Picture this: It’s after midnight and you’ve just checked into your clown-infested room when you realize: you left your phone charger in the car! No big deal—you’ll just have to leave your room, alone, at night, to run to your car that is more or less sitting in a probably-haunted cemetery full of things that go bump in the night. Not panic-inducing at all! It’s like House of 1,000 Corpses meets Stephen King’s It meets From Dusk Till Dawn. (Is it Halloween yet?)
Image Credit: Travel Nevada
The motel’s owner, Bob Perchetti, is ready to retire and move on from the creepy clown shrine he opened 20 years ago. We can only guess what kind of buyer is going to chomp at this bit—actually, we shudder to think.
The motel is for sale for $900,000, but one condition: the motel must keep its heritage.
Take a further look inside The Clown Motel in this video from Las Vegas Now.
Nick Caruso is RISMedia’s senior editor. Email him your real estate news ideas at nick@rismedia.com.
For the latest real estate news and trends, bookmark RISMedia.com.
The post Nevada’s Creepy Clown Motel Is Now for Sale appeared first on RISMedia.
From:: Real Estate News
Oil prices settled sharply lower Monday, pressured by expectations for further growth in U.S. crude production, as little news emerged from a technical meeting of OPEC and non-OPEC producers. “The fundamentals of the oil market remain bearish for now as U.S. production continues to grind higher and OPEC has so far failed at trying to offer material support to the market through their policy decisions,” said Tyler Richey, co-editor at the Sevens Report. September WTI crude fell $1.14, or about 2.4%, to settle at $47.37 a barrel on the New York Mercantile Exchange. It gained 3% on Friday.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Target Corp. said Monday that it will release the latest iteration of its children’s collection Art Class, designed with help from six kids, all “trendsetters” and social media personalities between the ages of 13 and 16, on August 27. The “Fall Semester” features more than 50 items, most priced under $20, and includes pins, paints and patches so merchandise can be personalized. Target is focused on growing its portfolio of private labels over the coming months, with Cat & Jack, its year-old children’s line, surpassing $2 billion in sales. Target shares are up 2% in Monday trading, but down 21.4% for the year so far. The S&P 500 index is up 8.3% for 2017 to date.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Gold prices climbed Monday to mark their highest settlement since early June as rising tensions between the U.S. and North Korea lifted investor demand for the precious metal. The move for gold comes ahead of the economic policy symposium of global central bankers that begins Thursday, which could offer clues from central bankers on any shifts to monetary policy. December gold rose $5.10, or 0.4%, to settle at $1,296.70 an ounce. That was the highest finish since June 6, according to FactSet data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
In addition to achieving record loan production, Guild Mortgage Co. boosted the balance of its residential loan servicing portfolio and expanded the size of its payroll.
By the time the midpoint of this year arrived, the San Diego-based company serviced 172,615 single-family loans with an aggregate unpaid principal balance of $34.126 billion.
Those details, as well as other operational metrics, were provided by Guild as part of the Mortgage Daily Second Quarter 2017 Mortgage Origination Survey.
From:: Financing