Appraiser Income

https://federalgovernmentjobs.us/jobs/Appraiser-766884500.html?id=571d22f6-5d31-49b5-9696-e5d758db29c2&utm_source=fgj&utm_medium=email&utm_campaign=agent

repost from: https://www.axios.com/2023/12/13/federal-reserve-interest-rates-meeting-decision

The Federal Reserve left interest rates unchanged at its final policy meeting of 2023, while signaling that 2024 could bring significant rate cuts.

Why it matters: The decision to leave rates unchanged in a 5.25% to 5.5% range for the third consecutive meeting. Officials indicated that the central bank is likely done with its historic rate-hiking campaign to tame inflation that has, so far, resulted in little damage to the economy.

• Officials have not ruled out raising rates again, but a tweak in its policy statement suggested rate hikes are done.
• During a press conference, Fed chair Jerome Powell also suggested as much, saying, “While we believe that our policy rate is likely at or near its peak for this tightening cycle, the economy has surprised forecasters.”
• Rate hikes “are not the base case anymore as it was 60, 90 days ago,” Powell said.

What’s new: Most top Fed officials envision cutting rates three or more times in 2024, according to new forecasts released Wednesday. The median projection was that in December of next year, the Fed’s target rate will be 4.6%, 0.75 percentage points lower than now.

• The median official envisions cutting rates by another full percentage point to 3.6% by year-end 2025.

What they’re saying: “Inflation has eased over the past year,” the Federal Open Market Committee said, in new language that acknowledges fading price pressures.

• The statement continued on to repeat language noting that inflation “remains elevated,” however.

The context: It comes as analysts and financial markets have increasingly prepared for the possibility of rate cuts early in 2024, which Powell pushed back on in a speech earlier this month.

• But at a press conference on Wednesday, Powell’s tone shifted. The Fed chair said there has been “real progress on inflation,” while the labor market has come more into balance.
• “These are the things we’ve been wanting to see,” Powell said. The natural next question, Powell said, is “when it will become appropriate to begin dialing back the amount of policy restraint that’s in place.”

Of note: Stocks jumped on the news of the prospective rate cuts next year. The S&P 500 rose by more than 1% and reached the highest level of the year.

• Meanwhile, bond yields dove lower: the 10-year bond yield fell by 16 basis points to 4.03% — continuing a sharp reversal after hitting 5% in late October.

Flashback: At its September meeting, the last time the Fed published formal forecasts, 12 of 19 top officials anticipated raising interest rates one more time this year. They elected not to do so in response to lower-than-expected inflation readings.

I am whishing all my fellow appraisers happy holidays & a Merry Christmas! This is the slowest I have seen it during my career as an appraiser, so it can only get better from here! It will be a good time to really buckle down and focus on your non-lender work for 2024. The most work I see is for divorce, bankruptcy and date of death / estate appraisal services.

The best way to get those types of orders is through relationships with local attorneys in your area. First you have to reach them and then you have to keep them. Then you also need to get the work from the individuals that order your appraisal services directly. They will find you over the internet on service websites, apps and search engines. You have to focus on showing up on these locations, preferably near the top of the list.

Next year I will be working on getting more posts and marketing advice out on Appraiser Income as well as opening the Appraisers Club again to help appraisers get more of the Non-lender work that is out there. But in the meantime check all your social profiles, search for your ‘city name’ followed by appraiser / appraisal and see if you show up on the first page of google and see what you can do to get your company listed on any ‘service provider’ websites that do show up on the first page of the google results.

Happy Holidays and Merry Christmas!

~ Bryan