TEXAS SNOW STORM 2021
Our great State of Texas is recovering from the Winter storms and we are not out of the woods yet! As we are dealing with the aftermath and destruction caused by the freezing temperatures and power outages across the state last month, we are working together with your residents, insurance companies and vendors to restore properties that were damaged. The insurance adjusters are working overtime due to the number of damaged homes and we are providing requested information as quickly as possible.
Please note that more Winter weather may still be in our near future and 3G Properties Group will continue to send notices to all residents with regards to Winterizing and taking necessary precautions to minimize weather-related damages.
Please bear in mind3G Properties Group handles basic maintenance requests and is not a general contractor or construction company. We are happy to work with YOUR preferred vendors as long as 3G obtains proof of their liability insurance, copy of their W9 and coordinates the repairs. As your property management company, we are charged with coordinating all maintenance with your resident as part of our liability protection for both you and 3G. If the owner, resident and vendor are communicating outside of our Maintenance Coordinator and/or 3G team, this can cause significant problems. We expect to pay your vendor through our system so all of your annual expenses are reflected on your 1099. 3G Properties Group strives to provide you with a “hands off” experience as much as possible, relieving you from maintenance burdens and headaches!
NATIONAL MARKET UPDATE
We got an upside surprise, as New Home Sales rose 4.3% in January to a 923,000 annual rate. This second consecutive month of gains took sales 19.3% ahead of last year, while inventories grew by 8,000 units.
In spite of hitting an all-time high for January, the Pending Home Sales index of contracts on existing homes slid 2.8% below December. But it’s up 13% over last year, all four geographic regions showing annual increases.
The monthly decline was from “simply not enough homes to match the demand,” according to the National Association of Realtors chief economist, but he forecasts “a natural seasonal upswing in inventory in spring and summer.”
ALL GAINS: CONSTRUCTION, THE ECONOMY, JOBS… Overall Construction Spending should go up for another month, and we'll of course watch the residential numbers. The economy is also forecast to grow, with ISM Manufacturing and Non-Manufacturing indexes well into expansion territory. February Nonfarm Payrolls are expected to head back to the 200,000 level, as things slowly open up.
NOTE: Weaker economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and higher loan rates.
FEDERAL RESERVE WATCH
Forecasting Federal Reserve policy changes in coming months. Fed watchers still expect the central bankers to keep rates where they are for the foreseeable future--until they see higher inflation, and the job market where it was before the pandemic. Note: In the lower chart a 0% probability of change is a 100% certainty the rate will stay the same.
Current Fed Funds Rate: 0%-0.25%
Probability of change from current policy:
Traditionally, when you think of Irish food you may think of cabbage rolls, anything with potatoes and corned beef. Cabbage was enjoyed with bacon during the potato famine because corned beef was more expensive in Ireland at the time – back in the U.S. it was much cheaper so it was often eaten as a special treat on St Paddy's Day. If you're looking for that traditional Irish dinner, this Slow Cooker Corned Beef dinner will be right up your alley!
Here are some green recipes for this fun holiday!
No matter how you choose to celebrate, this collection of green dinners, desserts, drinks and snacks are perfect for the occasion.
Sunday ~ March 14th
We welcome Spring with open arms!
The official day of Spring begins Saturday ~ March 20th