Last Friday, the Bureau of Labor Statistics (BLS) released its latest jobs report. It revealed that the economic shutdown made necessary by COVID-19 caused the unemployment rate to jump to 14.7%. Many anticipate that next month the percentage could be even higher. These numbers represent the extreme hardship so many families are experiencing right now. That pain should not be understated.

However, the long-term toll the pandemic will cause should not be overstated either. There have been numerous headlines claiming the current disruption in the economy is akin to the Great Depression, and many of those articles are calling for total Armageddon. Some experts are stepping up to refute those claims.

In a Wall Street Journal (WSJ) article this past weekend, Josh Zumbrun, a national economics correspondent for the Journal explained:

“News stories often describe the coronavirus-induced global economic downturn as the worst since the Great Depression…the comparison does more to terrify than clarify.”

Zumbrun goes on to explain:

“From 1929 to 1933, the economy shrank for 43 consecutive months, according to contemporaneous estimates. Unemployment climbed to nearly 25% before slowly beginning its descent, but it remained above 10% for an entire decade…This time, many economists believe a rebound could begin this year or early next year.”

Here is a graph comparing current unemployment numbers (actual and projected) to those during the Great Depression:Clearly, the two unemployment situations do not compare.

What makes this time so different?

This was not a structural collapse of the economy, but instead a planned shutdown to help mitigate the virus. Once the virus is contained, the economy will immediately begin to recover. This is nothing like what happened in the 1930s. In the same WSJ article mentioned above, former Federal Reserve Chairman Ben Bernanke, who has done extensive research on the depression in the 1930s, explained:

“The breakdown of the financial system was a major reason for both the Great Depression and the 2007-09 recession.” He went on to say that today – “the banks are stronger and much better capitalized.”

What about the families and small businesses that are suffering right now?

The nation’s collective heart goes out to all. The BLS report, however, showed that ninety percent of the job losses are temporary. In addition, many are getting help surviving this pause in their employment status. During the Great Depression, there were no government-sponsored unemployment insurance or large government subsidies as there are this time.

Today, many families are receiving unemployment benefits and an additional $600 a week. The stimulus package is helping many companies weather the storm. Is there still pain? Of course. The assistance, however, is providing much relief until most can go back to work.

Bottom Line

We should look at the current situation for what it is – a predetermined pause placed on the economy. The country will recover as we work to continue to flatten the curve & see businesses & individuals get back to work. Barley a week into the official re-start up of Realtors getting back to work & we are already seeing the market heat up fast! Very encouraging news for anyone considering selling.

If you have any questions about the current real estate market here in Northern Michigan, feel free to give me a call or send me an email today!

(517) 643-1834 – morgan@morganrobinson.org

*Informational Resource: Keeping Current Matters

In a recent survey by realtor.com, people thinking about selling their homes indicated they’re generally willing to allow their agent and some potential buyers inside if done under the right conditions, once local state law allows it. They’re less comfortable, however, hosting an open house. This is understandable, given the health concerns associated with social contact these days. The question is, if you need to sell your house now, what virtual practices should you use to make sure you, your family, and potential buyers stay safe in the process?

In today’s rapidly changing market, it’s more important than ever to make sure you have a digital game plan and an effective online marketing strategy when selling your house. One of the ways your agent can help with this is to make sure your listing photos and virtual tours stand out from the crowd, truly giving buyers a detailed and thorough view of your home.

So, if you’re ready to move forward, virtual practices may help you win big when you’re ready to sell. While abiding by state and local regulations is a top priority, a real estate agent can help make your sale happen. Agents know exactly what today’s buyers need, and how to put the necessary digital steps in place. For example, according to the same survey, when asked to select what technology would be most helpful when deciding on a new home, here’s what today’s homebuyers said, in order of preference:

• Virtual tour of the home
• Accurate and detailed listing information
• Detailed neighborhood information
• High-quality listing photos
• Agent-led video chat

After leveraging technology, if you have serious buyers who still want to see your house in person, keep in mind that according to the National Association of Realtors (NAR), there are ways to proceed safely. Here are a few of the guidelines, understanding that the top priority should always be to obey state and local restrictions first!

• Limit in-person activity
• Require guests to wash their hands or use an alcohol-based sanitizer
• Remove shoes or cover with booties
• Follow CDC guidance on social distancing and wearing face coverings

Nate Johnson, CMO at realtor.com ^® notes:

“As real estate agents and consumers seek out ways to safely complete these transactions, we believe that technology will become an even more imperative part of how we search for, buy and sell homes moving forward.”

It sounds like some of these new practices might be here to stay.

Bottom Line

In this new era of life, things are shifting quickly, and virtual strategies for sellers may be a great option. Opening your doors up to digital approaches may be game-changing when it comes to selling your house. Let’s connect so you have a trusted real estate professional to help you safely and effectively navigate through all that’s new when it comes to making your next move.

Call: 517-643-1834 -or- Email: morgan@morganrobinson.org

Let’s face it, we are all going stir crazy & have been living on the ragged edge of uncertainty for weeks now. I am not sure how everyone is coping throughout their day, but I wanted to share with you a method that I use to try and keep myself balanced in a world that sometimes feels upside down. One method I use is, Meditation!

BENEFITS OF MEDITATION

If relaxation is not the goal of meditation, it is often a result. In addition to many health benefits that I will outline below, meditation is thought to be a wonderful exercise for strengthening your mental health & well-being.

Practicing meditation is thought to help in many different ways. It is said that it helps us to clear our mind, stay calmer, have better focus, have a greater sense of self-awareness.. Plus it helps inspires empathy, compassion & can help maintain a positive emotional balance.

Studies on the medical benefits of meditation have documented the following short-term benefits to the nervous system:

• Lower blood pressure
• Improved blood circulation
• Lower heart rate
• Less perspiration
• Slower respiratory rate
• Less anxiety
• Lower blood cortisol levels
• More feelings of well-being
• Less stress
• Deeper relaxation

HOW TO MEDITATE: SIMPLE MEDITATION FOR BEGINNERS

This meditation exercise is an excellent introduction to meditation techniques.

1. Sit or lie comfortably.
2. Close your eyes.
3. Make no effort to control the breath; simply breathe naturally.
4. Focus your attention on the breath and on how the body moves with each inhalation and exhalation. Notice the movement of your body as you breathe. Observe your chest, shoulders, rib cage, and belly. Simply focus your attention on your breath without controlling its pace or intensity. If your mind wanders, return your focus back to your breath.

Maintain this meditation practice for two to three minutes to start, and then try it for longer periods. 

It is really as simple as that!

It is my hope that in these trying times, that although we may be apart, that we may help encourage each other and lean on one another (virtually). We are stronger together & safer apart. But I do miss you all & would like to send all my clients, fellow brokers/agents, family/friends & community members a virtual HUG & many blessings! May we all get back to “NORMAL” soon!

Hello Friends,

I have exciting news to share: I have decided to make some exciting changes with my business and I have joined a new real estate firm! This was not a decision that I have taken lightly, as I have thoroughly enjoyed my years with Midge & Co Realtors & truly value the time I spent with Midge and the team.

My new brokerage is CENTURY 21 NORTHLAND and I am ready to continue growing my business here.

Many of my clients know me for providing service above and beyond that of my peers. Now with Century 21 Northland, I will be able to elevate my business in new & exciting ways, so that I can continue to provide my clients with the legendary customer service and real estate knowledge they have grown accustomed too!

I greatly value the business and personal relationships I have established along my journey in real estate & it is my hope that you will consider contacting me for any of your future real estate needs. My updated contact information is below.

Please be sure to save this new email address-

morgan@morganrobinson.org and delete my old Midge & Co email.

I will no longer be receiving emails through that account.

I look forward to and am excited for the future, feel free to contact me with any questions. 517.643.1834

Best Wishes,

Morgan Robinson, Century 21 Northland Realtor

SELL WITH SUCCESS – BUY WITH CONFIDENCE

For many Americans, a common goal is owning a home: a piece of land, a roof over our heads, and a place where our families can grow and flourish.

If you’re dreaming of buying a home this year, the best way to start the process is to reach out to me, so I can help you to better understand what goes into buying a home. Once you have that covered, then you can answer the questions below to make the best decision for you and your family.

1. How Can I Better Understand the Process & How Much Can I Afford?

The process of buying a home is not one to enter into lightly. You need to decide on key things like how long you plan on living in an area, school districts you prefer, what kind of commute works for you, and how much you can afford to spend.

Keep in mind, before you start the process to purchase a home, you’ll also need to apply for a mortgage. Lenders will evaluate several factors connected to your financial track record, one of which is your credit history. They’ll want to see how well you’ve been able to minimize past debts, so make sure you’ve been paying your student loans, credit cards, and car loans on time.

2. How Much Do I Need for a Down Payment?

In addition to knowing how much you can afford on a monthly mortgage payment, understanding how much you’ll need for a down payment is another critical step. Thankfully, there are many different options and resources in the market to potentially reduce the amount you may think you need to put down up front.

If you’re concerned about saving for a down payment, start small and be consistent. A little bit each month goes a long way. Jumpstart your savings by automatically adding a portion of your monthly paycheck into a separate savings account or house fund. AmericaSaves.org says,

“Over time, these automatic deposits add up. For example, $50 a month accumulates to $600 a year and $3,000 after five years, plus interest that has compounded.”

Before you know it, you’ll have enough for a down payment if you’re disciplined and thoughtful about your process.

3. Saving Takes Time: Practice Living on a Budget

As tempting as it is to settle in each morning with a fancy cup of coffee from your favorite local shop, putting that daily spend toward your down payment will help accelerate your path to homeownership. It’s the little things that count, so start trying to live on a slightly tighter budget if you aren’t doing so already. A budget will allow you to save more for your down payment and help you pay down other debts to improve your credit score. A survey of Millennial spending shows,

“70 percent of would-be first-time homebuyers will cut spending on spa days, shopping and going to the movies in exchange for purchasing a home within the next year.”

While you don’t need to cut all of the fun out of your current lifestyle, making smarter choices and limiting your spending in areas where you can slim down will make a big difference.

Bottom Line

If homeownership is on your dream list this year, take a good look at what you can prioritize to help you get there. To determine the steps you should take to start the process, simply reach out to me today.

517-643-1834

Looking back over this year, I am so very grateful for the amazing support this community has shown me. I feel incredibly privileged to have worked with so many awesome folks this year on their real estate needs! 

2019 has truly been an amazing experience for me. I set goals for 2019 to advance my local reach & generate even more innovative marketing solutions, to better help my clients on both sides of the sale! Those goals were achieved with gusto this year & I’m proud to announce that I took the #1 spot in total sales at Midge & Co generating a whopping $5.4 Million. Which makes me the TOP PRODUCER of 2019!

In addition to earning the top spot among my Midge & Co team of realtors, I also rank among the Top 10 in the Houghton Lake Area & Top 11 in all our MLS district! Thus, I would like to take a moment to express my gratitude for the opportunity to serve this fantastic northern Michigan community…

To all my amazing clients, thank you for allowing me to assist you with your real estate endeavors throughout 2019. 

To my many friends/family who have referred to me your friends/family/clients, thank you for trusting me and supporting my business!

To this beautiful community that has embraced me, supported me – thank you! Your support continues to serve as the foundation that allows me to grow & thrive as one of this areas Top Performing Agents!

I wish you and your families a very happy, healthy and prosperous New Year & look forward to serving you in this new year ahead. 
Stay tuned this month for many exciting announcements, to be featured on the Midge & Co Website, our various social media outlets,  as well as here on my own website & Facebook Page!!

As always, if you need anything at all, please reach out by email at morgan@morganrobinson.org -or- by phone at 517.643.1834 

Happy New Year Everyone! God Bless 2020!!

Many Thanks –
Morgan Robinson, Expert Real Estate Professional