Sep 30
May 11
With mortgage rates dropping at a record pace, homeowners are going in herds to financial institutions to refinance their homes.
This is very similar to a decade ago which led to the real-estate boom.
The Mortgage Bankers Association reported about 80% of all mortgage applications are for refinancing. The average 30 year fixed mortgage rate is 4.73% which is down from 6% about a year ago. Wells Fargo recently reported improved results as a result of the increase in mortgage applications writing over $101 billion in mortgage loans for the quarter which is the most since 2003.
There was an increase of 52% in first quarter profit as a result of the increase in the workload it required them to recruit to approximately 5,000 employees to assist with the volume. Wells Fargo believes that this rush will continue through the next quarter.
Not every homeowner will experience savings due to the high refinancing fees. Others are converting their adjustable mortgage rates with fixed fee rates. Many homeowners are seeing a decrease in their home values which makes it unattainable to refinance their homes.
The U.S. government has put in place programs to lower interest rates and increase the housing market. An example of this is The Federal Reserve announced late last year that they were buying mortgaged backed securities.
The government programs were put in place to help the struggling housing market, encouraging homeowners to refinance, and help them from foreclosing on their homes. Also, it would improve the economy as well as helping financial institutions boost profits.
Thus, financial institutions are having difficulties in expediting refinances on a timely basis due to the rush for homeowners to refinance.
Dec 30
Dec 18
With many people we are surrounded by stress and it compiles daily in our lives. We start our day with stress just figuring out what to wear and forget about trying to get a quick cup of coffee at the local Starbucks. Stress in the workforce is a harmful and emotional response that occurs when the requirements of the job do not match the capabilities, resources or needs of the workers.
Stress can lead to greater health risk later on in life. Stress affects virtually every organ in your body from your heart, blood vessels, immune system, lungs, digestive system, and sensory organs. A stressed filled life greatly increases our risk for heart attack and stroke. This is especially significant for people over the age of 40 which I am and also being a Black American. Stress in the begin may act as a boost in strength in the short run but overtime stress takes a great toll on the body. It is now believed that constant stress puts much strain on our arteries, causing chronically high levels of stress hormones and pushing people to maintain unhealthy habits like smoking, over eating, or drinking. Men who are stressed out are doubling their chances of having a stroke then their peers.
These results carry slightly over into women but they are found to not suffer from strokes as much. Women are actually more susceptible to stress then men which lead to many problems with their sleeping, eating, and routine habits. To relieve stress many simple things can be done to significantly lower your stress level. One of the main ways to lower stress levels surprisingly is laughter. Putting on a funny movie, going to a comedy show, or just having a good time with friends is a fantastic way to reduce stress daily. We should also treat ourselves and find other outlets to relieve stress. For some with more severe stress should look into yoga or meditation. It seems easy to say you do not have enough time to handle your stress. Change the way you look at things and handle life different.
If you are struggling financially or whatever the stress in your life may be take 5 minutes out of your day to cool down and take a deep breath. Reflect on the positive things in life and the good things around you. Close your eyes and visualize success and empowerment.
During the holidays I am thankful for my Health, Happiness, Family, and friends. I wish you all the best and pray you are empowered by my articles and you land a life changing career position.
Dec 14
Empowering People to Change,
Today I met with a great person who was affected by the job market. Her company performed a RIF (reduction in workforce) and she has been without a job for less than a month. What set her apart was her determination and focus to find another position. She was positive and had a clear vision of when she was going to start working. That is all she focused on and nothing could change her mind.
I wish all the people I met had the same positive outlook on life and overcoming a difficult time in the nation’s economy. Sometimes when I speak with candidates I become a counselor, motivator, shoulder to cry on, and just a friendly ear to listen to someone’s pain. You can’t avoid reading another article or listening to the news and hearing about unemployment rates, foreclosures, and the pending automotive crisis. The media continues to focus on death, crisis, and financial woes before something fun and exciting… at least in the Miami news market.
I always tell people do not listen to negativity and focus on the positive. If you focus on images and thoughts of negativity, then that is what will come true in your mind. We all need to learn and stop being our own worst enemy. Let’s try to empower someone every day with information to help them in their lives, and change the way they do things.
Dec 09
If you are un-employed you need to attempt and do more than anyone else searching for a job.
you need to work hard each and everyday and start early with you plan of attack, Organize a plan from the night before with your goals and direction for the following day. This list is your marching orders for the next day and do not waste time in between your goals. Push yourself beyond what you already know you’re able to do. Get out of the rut of going through the same motions and ending up with the same results. Put some additional time, energy, thought and creativity into your actions.
I speak with candidates during the day and a very few have a plan of attack from the previous day. Remember looking for a job is work and take your work seriously.
Take on challenges that make you a little bit uncomfortable, by moving away from you comfort zone. Stretch your abilities and watch them grow, with reaching for something new in life. People are creatures or habit and change your common task if you want to find a job.
Decide to reach higher and you’ll find many new ways to move higher. Raise your expectations and you’ll improve your performance. Keep on learning, keep on growing, keep on venturing, and keep on trying beyond what you already know. Give yourself a high and ambitious goals of what you want to accomplish. Visualize and you will materialize the goal. My goal is to nationally syndicate a radio talk show helping people with tough job market questions and provide them with great input and insight into the market and economy. i am working each day to see my goal become a reality.
Enjoy and appreciate how far you’ve already come. Then focus on what your goals are and make it happen.
Dec 04
Job Trends and Bright Spots in 2009
Fortunately there are some specific skill sets that are hard to find and in high demand despite the current economic roller coaster ride. Sources have identified that there are even a few coveted profession that will witness not only growth but pay increases, modest though they may be. Current trend analysis has identified that there will be relatively modest, yet encouraging salary increases for accounting, information technology (IT) and supporting administrative roles, emphasizing that professionals with advanced skills and specialized expertise will have a special advantage in regards to marketability; so beef up on your professional training and breadth of experience as you WILL reap the rewards.
Organizations place enormous value on employees that can identify cost efficiencies, create long-term business strategies and maximize the use of existing technologies. These fortunate individuals who possess these highly coveted corporate traits seem to be staying put in this uncertain economy. This reluctance on behalf of highly skilled professionals in these industries to leave the stability of their current position creates a golden opportunity for those individuals willing to take a risk and approach hiring mangers. So there is good news after all for those searching for challenging new opportunities.
Accounting and finance professionals can look forward to a projected salary increase in the neighborhood of 3.4 percent. Companies are exhibiting a particular and pragmatic increase in professionals that can facilitate their need to reduce inefficiencies, trim the fat and increase profitability; but that is a logical assumption as the corporate dollar stretches only so far these days.
Projections for 2009 forecast that the following three hot finance and accounting positions are:
1.) Staff and senior accountants
2.) Public accountants
3.) Credit and collection specialists
The hiring outlook for Information technology professionals is strong as IT
unemployment rates remain low when compared to several other occupations. This is the result of a need for IT professionals to support Web 2.0 initiatives that foster information sharing and enable improved access to applications stored on web servers. IT salaries are expected to increase 3.5 percent in 2009. A decrease in the number of highly skilled candidates for IT positions in addition to fewer college graduates with IT degrees is making it increasingly difficult for hiring managers to hire and retain individuals specializing in certain disciplines.
There is a steady demand for skilled administrative professionals, and starting salaries for these lucky individuals is expected to rise 2.5 percent in 2009. As the role of administrative professionals expands so is their projected earning potential for the coming year. Forecasts indicate that highly skilled administrative professionals will be compensated for their talents in certain positions relative to their specific skill level.
The word on the street is not all gloom and doom, the markets and economy will stabilize and again recover. Identifying professional opportunities should be your highest priority in 2009 because just like life, opportunities do not wait for you to catch up to them. While job searches are obviously increasingly difficult you are ultimately the hiring manger if you put yourself out there and make finding your next career move your job.
Nov 30
Don’t let current economic woes take the wind out of your sails! There are jobs out there to be had if you conduct a diligent search and look in the right places. Your network is your best resource, so use it! Your network can inform you of open positions you never would have found on your own because the most coveted positions are usually not posted, they don’t need to be. Perhaps you’re an unwitting victim of the current global economic crisis; relax take a deep breath because economies and markets move in cycles, you are going to be just fine.
Without a doubt the job market is overrun with qualified professionals competing for the same positions you are. I want to enlighten you as to some interesting new career opportunities that might be a perfect fit for you and just happen to be in high demand at the moment. No more linear thinking, its time to think out of the box and get out of your comfort zone! I want to discuss the best opportunities relative to salary range, which is a key factor in any career search. Additionally, I would ask that you consider what is it that you see the most potential for your professional growth. Many people are corporate functionaries that perform jobs, few have careers that reward and satisfy. A GREAT CAREER will bring out your creativity and ability to innovate and accomplish things you never thought possible. The jobs I will list are taken from the Bureau of Labor and Statistics, some may require significant training but these are definitely the hot jobs of 2009!
Medical scientist
Personal finance advisor
Computer software engineer
Chiropractor
Environmental engineer
Biochemist and biophysicist
Sales manager
Computer systems analyst
Epidemiologist
Athlete
Agent and business manager for artists, performers and athletes
Producer and director
Marketing manager
Lawyer
Actor
Advertising and promotions manager
Management analyst
Postsecondary education administrator
Financial manager
Actuary
Airline pilot, copilot and flight engineer
Market research analyst
Medical and health services manager
Securities sales analyst
Obviously some careers require significant training while others simply require specific licensing. These are the top 25 for 2009, but if your passion is not listed here, don’t despair, keep reaching for what you truly want because at the end of the day the hottest career is the one that YOU find satisfaction, happiness and financial stability performing. You need to discover your bliss, believe in yourself and command your destiny.
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