NASA states, “Direct observations made on and above Earth’s surface show the planet’s climate is significantly changing. The planet’s average surface temperature has risen about two degrees Fahrenheit since the late 19th century. The years 2016 and 2020 are tied for the warmest year on record.”
Climate change is impacting nearly everything on the planet in one way or another, and shopping centers have definitely suffered some of the effects. In fact, shopping in general has been changed forever in just the past decade alone. Today you can order almost anything you want online from your computer or phone, quickly and easily, and get it delivered to your home directly. For many shoppers who love convenience, online purchasing has not only helped them from time to time but has become their dominant and sometimes only method of choice. Others still love to visit brick and mortar stores in person and will probably never stop frequenting them. Right now, one does not need to choose. The economy, along with inventory and prices, may rise and fall but shoppers continue to find a way to get what they need.
One major effect of climate change on retailers is changes or complications in their supply chains. The availability of suppliers, products, energy sources, raw materials, and other essentials can be altered or even cut off altogether, so it is instrumental for companies to be prepared. According to BSR (Business for Social Responsibility), “There is a clear business case for companies to reduce these risks and strengthen supply chain performance by building the resilience of operations and communities along supply chains.” Their report includes information on 99 companies that reduced their greenhouse gas emissions by 551 million tons of carbon dioxide and also saved $14 billion via climate change related alterations and improvements.
Businesses that take no action in the consideration and preparation for climate change and other environmental issues are at risk of huge losses. It is predicted by CDP - Global Environmental Impact that by 2030, approximately $4 trillion in assets are in danger due to the earth’s changing climate. Companies that brace for future success focus on sustainability, conscious consumerism, social and environmental responsibility, positive values, best practices, fair labor, cruelty-free products and operations, and other earth-friendly procedures and goals. Along with the ease of online shopping, an increasing number of consumers are conducting research and becoming more concerned with the characteristics of the company behind the product or service, rather than the item itself. Climate change effects are forcing shoppers to organize, prioritize, and choose wisely when they search for their goods.
Today’s brick and mortar “shopping malls” are much different than those from decades ago. What were once busy and bustling venues have been diminished into quiet, sparsely occupied, and sometimes even vacant spaces with little to no customers. Malls that remain operational are scarce, and they all too often only echo of past vibrancy and success. Before online shopping, physical stores were necessities, and they experienced heavy and continual traffic flow; however, this trend has been forever changed by factors like the incredible progress of technology, the comfort and convenience of shopping from home, financial crises, and of course, the COVID-19 pandemic.
M&As (Mergers and Acquisitions) have been popular and effective strategies utilized by companies to try to increase traffic flow and revenue by combining businesses. These deals can enhance operations and profit margins by expanding and improving the company’s products and services, growing their consumer base, and maximizing their access to new and innovative technology and countless other opportunities. Unfortunately, while mergers and acquisitions assist in creating successful combined or new businesses, they also hinder existing companies and competitors.
A myriad of shopping malls have been negatively impacted by M&As, and countless stores and entire centers have even been shut down altogether. Many malls still operate, and some have repurposed retail spaces into food and drink venues, while others have been sold and transformed into housing or offices. Some shopping plazas have decided to convert their lots into outlet malls or discount stores.
Many of these mergers and acquisitions are defensive moves and ultimately increase the combined company’s assets and capabilities. Their consumer base is expanded, often on a global scale, and they sometimes end up monopolizing the market completely. With enhanced assets and operations, merged businesses also enjoy better leasing and location options as well. M&As may benefit corporations substantially but they also tend to leave traces of headaches, hassles, and heartbreak for smaller businesses in the process. Today’s economy and available shopping options are constantly changing, and customers will always alter their shopping patterns accordingly. A wise tip is to conduct plenty of research and stay informed about current shopping trends and changes.
A mortgage loan interest rate is the fractional fee a borrower pays for a loan, and there are two basic types - fixed-rate mortgage loans and adjustable-rate mortgage loans. It is essential to learn about the different loan types and their intricacies, options, benefits, and potential risks to make informed and financially wise decisions about your mortgage and its future. Finding the option that works best for your specific situation does not need to be a daunting or negative experience; it requires a bit of research and some useful tips.
No matter which type of mortgage loan you choose, there are a number of factors that lenders use in determining the details. They examine data from your personal/family finances, like your accounts, assets, liabilities, credit history, and other circumstances. Lenders also analyze details from your housing history, career history, and the current state of the economy and housing market. External events such as inflation, recession, and major real estate market shifts are other factors that can impact mortgage loan interest rates as well.
While fixed-rate mortgages lock in one interest rate for the life of the loan, adjustable-rate mortgage loans have interest rates that fluctuate periodically. These shifts are determined by the stipulations of the loan agreement and can occur monthly, quarterly, annually, or at other specified intervals. Adjustable rates contain two major components, a margin and an index value, and are often referred to collectively as fully indexed interest rates. Although the index value is variable, the margin is fixed and remains the same for the loan’s duration. Most mortgage loan rates reflect a standard 10-year Treasury of the United States bond yield, which can be helpful in forecasting future rate changes by referring to the arc of the bond yield.
Understanding key information about interest rates within real estate can make purchasing a home and choosing the correct mortgage loan a much smoother and more efficient process. This venture can seem overwhelming even before you begin, but there is a plethora of resources, tools, and assistance available to help guide you, even if you decide that you want to refinance later on.
The level of success you put into your career in real estate will determine the amount of success you enjoy. While this is basically true of any career path, there’s a more direct link between effort and success when you rely on commissions for your income. You should take the time to prepare for the other changes a career in real estate will bring into your life.
Plan Your Career
Once you undergo the necessary education to pass your licensing exam, you should take the time to create a specific path for your career in real estate. This will involve setting short-term goals for yourself. Each short-term goal should take you one step closer to achieving your long-term objectives. Your strategy should include a marketing plan and a system for covering your expenses. Keep in mind that you’ll essentially be an entrepreneur, so you should prepare for all of the expenses and responsibilities that any new entrepreneur faces.
Plan For a Period of Limited Income
If you can keep an hourly job as you get started as a real estate agent, you should consider the benefits of staying employed. Otherwise, you should have a modest nest egg upon which you can draw to support yourself as you launch your new career. Just as a new business struggles to turn a profit in the first three years of operation, new real estate agents don’t usually earn a decent income until they have established themselves in their local communities.
Choose a Niche
It will also help you find greater success as a real estate agent if you can focus your efforts into a specific niche. For example, you might have an interest in offices and business parks. By focusing your career on those specific types of properties, you can create a marketing strategy that targets entrepreneurs and small business owners. You’ll save time, money, and energy when you’re not spreading your efforts too thin.
Keep in mind that you will be your own boss even when you work for a brokerage firm. This means you’ll have to find ways to stay motivated and work more efficiently. Developing a strategy that you can follow on a daily basis will help you sell more properties. In addition to working harder, you should also look for ways to be more effective as you serve your clients.
Every city, state and country has residential and commercial real estate development plans that are currently underway. In addition, every society has social problems that increase the difficulty of work for real estate developers. The following issues are likely to affect the success of real estate projects now and in the future.
Delays in real estate projects can last for years longer than expected. These delays may be the result of social problems, such as decreased funding for residential projects or reduced needs to relocate in the case of remote workers. Untimely delays are some of the worst problems to affect real estate developers and their clients.
Increased immigration results in increased demand for affordable, multifamily housing. In addition, massive surges in immigration may happen very quickly and result in overcrowding in certain cities. This puts increased pressures on urban, suburban and rural communities to accommodate these changes quickly.
Climate change is one factor that fuels many people to immigrate from one city or country to another. They may have experienced a natural disaster, such as a hurricane or flood, that destroyed their property, forcing them to relocate.
Global warming has increased the number of hurricanes that occur worldwide. The result is increased flooding that has made it more difficult to plan and develop projects.
Technology is a growing trend in the real estate industry. More property developers are willing to adopt new, innovative building technologies, such as touch-free electronic devices and motion detection lighting. The costs of adopting technology continues to be expensive and will increase as the features become more complicated.
Infrastructure underinvestment continues to increase the risks of constructing buildings and increase delays in finishing projects on time. The American Society of Civil Engineers (ASCE) predicts that ongoing underinvestment in infrastructure will add to economic burdens that negatively affect working professionals, families and businesses.
In the complex, modern world, no real estate developer works without facing a host of problems. From worsened climate change to reduced economic funding, developers are more likely to delay or cancel projects than they were several decades ago. They must be prepared for a problem to occur during any step of the process, whether it’s creating a valid contract or scouting for viable land to purchase.
Buying a home is a big goal many families have. However, a purchase that can easily reach six figures limits the ability of most people to pay cash. That’s why it’s important to figure out how to qualify for a home loan.
Gone are the days in which anyone could walk off the street and leave with a “liar loan.” Instead, it’s necessary to provide proof of income before qualifying for a home mortgage. Banks want to know that a borrower is likely to have the means to pay off a loan. Therefore, saving few pay stubs and having access to previous tax returns is a necessity. These documents will help lenders assess the relative ability of prospective borrowers.
Build A Good Credit Record
Banks will pull a borrower’s credit report before giving her a budget for buying a new home. This will have a list of outstanding debts, and it might also show some debts that are paid in full. Banks want to see that prospective borrowers have a relatively low debt-to-income ratio. Those who have high levels of debt before a mortgage will likely be riskier borrowers for the bank. Paying debts by the due date is the most important component of building a good credit record. It’s important to remember that those with higher credit scores will secure loans with lower interest rates.
There are some government-backed lending programs that allow borrowers to get into a home for no money down. However, these are not always the best option. They can come with mortgage insurance that’s intended to protect the lender while doing nothing other than raise the cost of borrowing for the borrower. Those who are able to put at least 20% toward the purchase of a new home will avoid mortgage insurance, and this will cut down on their monthly payment. Additionally, those who have a good down payment will have equity from the beginning. A borrower who puts no money down will have no equity to protect them from owing more than the value of their residence if the market drops.
A mortgage is a requirement for many families to purchase a home. Shopping around can be a good idea that can sometimes provide lower interest rates. However, the most important steps to take toward getting a mortgage are building a nice income and down payment while also working to achieve a high credit score. Those who pay attention to these goals will likely qualify for a mortgage with a relatively good rate.