Tag Archives: economy

5 Things Entrepreneurs Can Learn from Rio’s Preparation for the Olympics

The summer Olympics will commence this week in Rio de Janeiro, but the road to the opening ceremony has not been an easy one, with multiple problems plaguing both the city as well as the country of Brazil. What lessons can entrepreneurs learn from Rio’s preparation for the Olympics?

Some events are beyond our control. When Brazil was awarded the opportunity to host the 2016 summer Olympics in 2009, their economy was flush and their property values were some of the highest in the world. After seven years of political, financial, and pandemic health disasters, scores of hotels and high rises that were built in anticipation of a surging economy now stand empty. Like the U.S. housing bust of 2008, Rio is a reminder to business professionals that unforeseen events can sometimes change the market drastically.

Stay on top of economic trends

Officials in Brazil may not have been able to predict all of the country’s financial downturns, but a successful entrepreneur needs to stay on top of the market’s economic trends.

Don’t take shortcuts

Due to poor workmanship and inadequate inspections, Rio’s Olympic Village has been plagued with faulty wiring and bad plumbing, making it almost unlivable for the world’s athletes. When it comes to managing your own business, taking shortcuts is almost never a good idea. Although taking shortcuts or only covering the bare minimum may save time and money, it could also ultimately deliver negative results and the potential loss of a client.

Don’t make promises you can’t keep

From rising crime, polluted water, and lack of transportation, it seems that everything that could go wrong before the Olympics has done so. Although many of the problems are reported to have been resolved, some solutions appear to be makeshift at best. Like Rio, where Olympic ticket sales are at an all-time low, for an entrepreneur, reputation is everything: More broken promises means less sales.

Marketing matters

Whether an entrepreneur is up-selling the benefits and features of their products or services on social media or attending networking events, without positive visibility, they would have no business. In the same way, Brazil officials have been attempting to counter recent bad publicity and low ticket sales with positive press releases about how low the risk of contracting the Zika virus while visiting Rio actually is, and the successful completion of the city’s transportation system. Whether or not this strategy will work to increase attendance at the 2016 summer Olympics remains to be seen.

Sources: New York Times, Wall Street Journal, Placester, Insider Louisville, Linkedin

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Financial Advice for Renters Looking to Buy

The New York Times recently published financial advice for renters looking to buy a home: pay your rent on time.

Credit reporting companies are starting to include payment histories in credit scores – which may help first-time homebuyers who have not established credit through traditional sources. It may also help consumers who have lost homes to foreclosure rebuild their credit.

These days, everyone can use a little help boosting their credit score so
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Realtor.com Reports Inventory Down, Prices Up

Housing inventories are down and list prices are up, according to real estate search site, Realtor.com. In September, the national inventory of homes for sale (single family homes, condos, townhouses and co-ops) dropped 3.27 percent from August and an astonishing 20 percent year over year. Additionally, the median list price rose 1.6 percent to $190,000 compared to one year ago- not a substantial jump, but a positive sign that it has not fallen.

Realtor.com was cautious optimistic stating, “While such developments can be viewed as encouraging, markets remain fragile and could easily begin to deteriorate with further weakening of the economy or increases in foreclosure rates.”

from AGBeat

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Reach Buyers for Your Luxury Listings

Maximize exposure for your high-end listings with Homes & Land. We connect you with the people who are most likely to purchase a luxury home. Our glossy, full color magazine is distributed in upscale neighborhoods and direct mailed to wealthy households, CEOs and professionals. In addition, luxury listings are posted on affluent websites like HomesAndLand.com, the Wall Street Journal, New York Times, and DuPont Registry.

Watch this video to learn more:

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How to Predict Local Home Prices

Most of the housing data consumers can access comes from national averages – not the local market. This can make it difficult to work with a seller to price a home correctly or alleviate a potential buyer’s concern about his investment.

However RISMedia contributor Steve Cook may be able to help. His recent article How to Predict Local Home Prices guides consumers through the various housing and economic factors that determine local market conditions.

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