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January 2016

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9 Tips for Developing Better Habits

Screen Shot 2016-01-26 at 9.35.37 AM 9 Tips for Developing Better Habits

(C) 2016 Reproduced with permission Buffini & Co.

More than half of adults make New Year’s resolutions each year. Unfortunately many give up after a few weeks because they haven’t turned their goals into habits. Whether you want to lose weight, save for a home or eat more vegetables, adopting good habits is sure to help you reach your goals.  Here are a few tips to help keep you on track this year:

1. Get motivated.

Why do you want to adopt the habit? How will your life improve once you develop this habit? What will happen if you don’t? These three questions will help you streamline your goal and maintain motivation when you need it the most. If you’re a visual person, write down your answers and post them where you’ll read them daily.

2. Start small.

Lasting habits take time to develop. Start by setting small goals that will eventually lead you to accomplishing your end result. By focusing on manageable changes at the beginning of your transformation, habits are more likely to become automatic.

3. Set reminders.

It’s easy to fall off track when you’re in the process of adopting a new habit. Consistency is key, and setting a reminder will help you build good habits.

4. Replace a bad habit.

If you want to kick a bad habit, it helps to replace it with a better one. Trying to quit eating sugary snacks? Keep carrot sticks or nuts nearby so when the urge to snack hits, you’re less tempted to reach for candy or other sugary treats.

5. Get others on board.

Tell people about the habit you’re trying to adopt. The more people you tell, the more accountable you’ll feel. And who knows? They may even become inspired to adopt a new habit themselves.

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6. Have realistic expectations.

Changes don’t happen overnight—they happen over several weeks and months of consistent action. Remember that achieving results only comes when you create consistency.

7. Do it for 30 days.

Studies show it takes 30 days to form a habit. Stay committed to your habit for a full 30 days. If it hasn’t become automatic by then, try to pinpoint the challenges you’re experiencing so you can try again.

8. Take on one habit at a time.

Although you may feel motivated to revamp your life and change several habits at once, doing so may prevent you from adopting any of them. Focus on one good habit at a time. Once it becomes routine, take on another new habit.

9. Reward yourself for a job well-done!

A small reward will keep you motivated, especially on days when it’s tough to stay on track. Think about how you’ll reward yourself ahead of time so you have something to look forward to.

 

Avoid these roadblocks to stay on track

You’ve lost motivation. Remember your original intention for wanting to adopt the habit. Keep an inspirational quote or photo nearby to reignite your fire when you need it the most.

You missed a few days due to an illness or travel. Don’t let missing a day or two derail you. Instead, try again the next day, or as soon as you are able. You only fail when you fall off track and stay there.

Negative thoughts. Silence your inner critic by surrounding yourself with positivity. Read inspiring books, listen to upbeat music and seek out encouraging people.

REColorado December 2015 Stats

December sale prices remain unchanged over 2014 for the Denver metro market.  The most significant trend in the Denver market remains to be the lack of inventory of homes for sale.  Average inventory decreased by a staggering 31% over December 2014.

Click the link below to view the .pdf of all December 2015 real estate statistics courtesy of REColorado.com

 

Dec 2015 REColorado Stats

 

Housing and the Economy

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(c) 2016. Reproduced With Permission by Buffini & Co.

Buying a home not only impacts the homeowner’s financial situation, it also impacts the local and national economies. Since 2016 is an election year, there’s no doubt the economy and housing’s role within it will be a hot topic in the news. Let’s take a look at the impact of housing on the local economy and on the larger national economy.

Housing’s impact on the local economy

When you buy or sell a home, you not only build your financial portfolio, you benefit your local
economy as well. Typically, there are 26 services involved in a single real estate transaction in the 30 days before and after a real estate transaction has closed. Buyers and sellers may use services such as movers, painters and contractors during and after a transaction has closed. Additionally, buyers may continue to use these services and more while they own the home.
The Impact of New Homes
While the true economic impact of new home building varies by community, the National Association of Home Builders calculated the figures for a typical metro area.
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The Impact of Remodeling
Renovations contribute to the economy through the use of local labor and businesses, as well as permitting and other government-related fees. The National Association of Home Builders also conducted a study on the one-year impacts of residential renovations on the local economy. Spending one million in remodeling generates an estimated $841,000 in private income and an estimated $71,000 in government revenue.* It also creates an average of 11 local jobs.

Housing’s impact on the national economy

A nation’s gross domestic product (GDP) measures the economic performance of the country and is defined as “the monetary value of all the finished goods and services produced within a country’s borders in a specific time period.”
In short, GDP measures how well a country, state or region’s economy is performing. Housing has contributed to more than 15% of GDP for the past 2 years.
According to the NAHB, housing contributes to GDP through residential investment (e.g., home building and remodeling) and housing services (e.g., rent including utilities, the estimated cost of an owner renting their residence and utility payments). It also indirectly impacts consumer spending—when homeowners have more expendable income or increased access to credit, they may buy more goods and use more services, which benefits the overall economy.
Housing comprised 15.45% of the nation’s GDP at this same time last year. Home building and remodeling made up 3.14% of this.
Homeownership Benefits the Community
Homeownership bolsters a community’s treasury through the collection of property taxes. The money collected from property taxes helps support infrastructure, police and fire protection, education and
community programs.
Additionally, studies from the National Association of REALTORS® show that homeownership has many social benefits, including:
• Increased civic participation and charitable activity
• Better health for homeowners
• Less crime
• Higher student test scores and high school graduation rates
• Higher social capital
Sources:
1. NAHB, HousingEconomics.com, September 1, 2015
2. NAHB, Local Impact of Home Building: Updated NAHB Estimates, April 1, 2015
3. Investopedia, http://www.investopedia.com/terms/g/gdp.asp
4. NAHB
5. NAHB Eye on Housing, June 24, 2015