Forty Under 40 Awards 2018

Sep 27
Category | General News

2018 Forty Under 40 Award

Our very own Sean Clark was recognized for this year's annual Forty Under 40 Award.

Here is a quick breakdown of Sean's portion of the program:

Achievements: Recognized as a "Young Gun" by Mortgage Professional America in 2014; named to MPA's Hot 100 list in 2014 and 2015; licensed in 24 states, with three more in progress; led Advisors in being recognized by NJBIZ as one of its Best Places to Work in New Jersey for the past six years in a row.

What drives you in your career? : "It's simple, three people... my wife, Pam, my daughter MacKenzie and my son Colton.

What was the best (business) advice you ever received? : "That old saying "It's just business" is just plain wrong! Advisors' president and my brother-in-law, Steven Meyer, taught me this in my early years at the firm. If you care as deeply about your company and your employees as we do, it's all personal and it's never "just business.""


To view photos from the event, be sure to click here.

To view the full program from the event and read more about Sean, navigate to the page by clicking here.

Positive Sign for Housing

The National Association of Home Builders conducts a survey gathering information based on the general economy and housing market conditions and compiles it into a report called the Housing Market Index.  Builders who are surveyed are also asked to rate the present sales of new homes, sales of new homes expected in the next six months, and traffic of prospective buyers in new homes.  For the month of September, home builder confidence is reported at a level of 67.  This number is in-line with estimates and last month’s release, but it is at a low for the year. When digging deeper in the report, we see that the traffic component is bringing down the average, but the current sales component, along with the future sales component are very strong.

A "housing start" is defined as the breaking of ground to construct a private, residential building.  The U.S. Census Bureau and the U.S. Department of Housing and Urban Development release a report breaking down new “starts” every month.  In August’s report, we see that housing starts rose 9.2%, which is amounts to about 1.28 million units.  This a positive sign for the housing market as it opens up room for more inventory which is created to help placate the continued healthy and hungry levels of demand.


30- Second Update – Strong August Jobs Report Supports Surging Economy

The results of August’s jobs report further supports that our economy is not only strong, but surging.  The United States created 201,000 new jobs in August, keeping the unemployment rate at an 18-year low of 3.9%.   The 201,000 new jobs were 10,000 more than what analysts expected.  The biggest news, however, came in the form of higher wage growth.  The yearly rate of pay increases climbed to 2.9% from 2.7%, representing the highest level since June 2009.  In addition, the average wage paid to American workers rose by 10 cents to $27.16 per hour.  Ward McCarthy, Chief Financial Economist at Jeffries, said wage growth is probably even better than it looks, since wages appear to be statistically depressed by the fact that higher-paid baby boomers are retiring and being replaced by lower-paid, younger workers.

Impact on Housing:

The August jobs report reflected an improved labor market and more confidence from both employers and workers.  The surprise jump in wages may be the final indicator for the Fed to green light its next interest rate hike.   Fed funds futures showed odds of a December hike at 58%, up from 52% before the jobs report.  Dallas Federal Reserve President Robert Kaplan believes there needs to be 3-4 interest rate hikes over the next 12 months to maintain steady economic growth.  Kaplan went on to say, “everything that’s in this job report today just causes me to reaffirm that view.”







Housing Market: Pending Home Sales Still Holding Strong

The Pending Home Sales Index is released monthly by the National Association of Realtors.  This index reports on the housing sector and breaks down pending sales of existing homes that have signed contracts.  Since this information is based on a signed contract, not a closed sale, it is seen as more of a forward-looking index.  With this latest release, for the month of July, we see Pending Home Sales cooling a bit across the nation by about 2.3% year over year, mostly due to a low level of inventory, but is still at a level of 106.2.  A level of 100 is the average level of Pending Home Sales so anything over 100 is seen as a positive indicator.  When digging deeper into the report, we also see that in many markets, pending sales are still increasing, but are just off their highs from last year.  The northeast and midwest showed gains for the month of July, but are slightly lower than where they were this time last year. 

Lawrence Yun, the National Association of Realtors’ Chief Economist has said, “it is important to note how much the housing market has recovered since the depths of the financial crisis.  Foreclosures sit near historic lows and record high home values have helped millions of households build substantial wealth.”  Lawrence also added that, “Rising inventory levels- especially if new home construction finally starts picking up, should slow the pace of appreciation to around 2-4% which will help first-time home buyers and be good for long-term health of the nation’s housing market.”


30 Second Update – Week of September 3rd, 2018

Happy Labor Day!

Labor Day is a yearly, national tribute to the workers that have contributed to the strength, prosperity and well-being of our country. The first Labor Day was held on September 5th, 1882 in New York City, organized by the Central Labor Union.

Speaking of the U.S. Labor Department, jobless claims are reported every week and show the number of individuals claiming unemployment for the first time. In August, a milestone has been reached because the number of individuals needing assistance has reached an all-time low, even with a larger workforce. “Claims” have fallen to their lowest level since 1969! An interesting report also showed that the number of people receiving benefits after just an initial week of aid is dropping, as well. A strong U.S. labor market is tied to a strong economy, and a strong and healthy housing market.

Fun Facts:

  • Oregon was the first state to celebrate Labor Day as a legal holiday in 1887.
  • Americans worked 12-hour days, 7 days a week during the 19th century!
  • The football season starts on or around Labor Day every year for all levels!
  • Traditionally, people did not wear white or seersucker clothes after Labor Day, as it unofficially marked the end of summer.



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