The Power Is Now Magazine | December 2021 by The Power Is Now Media Inc.

DECEMBER 2021 Vol. 08 | Issue 12

NAR HIGHLIGHTS TOP TECH TOOLS USED BY REAL ESTATE AGENTS Page 28

MORTGAGE FRAUD ON THE RISE AMID RISE IN PURCHASE LOAN SHARE Page 138

THE 40 YEAR MORTGAGE OPTION Page 142

JOHN HOPE BRYANT CEO of Operation Hope, Inc.

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magazine CENTRAL EDITION Vol. 08 | Issue 12

Eric Lawrence Frazier, MBA Publisher Office: (800) 401-8994 Ext. 703 Direct: (714) 361-2105 eric.frazier@thepowerisnow.com www.thepowerisnow.com EDITORIAL TEAM Sheila Gilmore Editor in Chief (800) 401-8994 ext. 711 sheila.gilmore@thepowerisnow.com Daniels George Managing Editor (800) 401-8994 ext. 712 daniels.george@thepowerisnow.com Goldy Ponce Arratia Graphic Artist and Design Manager goldy.ponce@thepowerisnow.com

CONTRIBUTORS The Power Is Now Research Team

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CONTENTS

DECEMBER 2021 POWER TECHNOLOGY Pg. 24. Is self-guided tours the future of real estate? Pg. 28. NAR highlights top tech tools used by real estate agents

CENTRAL EDITION:

POWER GREEN Pg. 8. Maybe California needs to shut down all of its oil drilling operations Pg. 10. Save California Solar Coalition urges Gov. Newsom to protect and strengthen rooftop solar

Pg. 33. What does 2022 hold for commercial markets?, by Steve Peterson. Pg. 37. Selling your home without any help? But is it worth it…? , by Norman Green. Pg. 41. Are you interested in a fixer upper in Texas? Read this first, by Johnnie Morine. Pg. 45. Which mortgage is right for you Part III. FHA Loan: 2021 complete guide, by Sharon Bartlett.

EAST COAST EDITION:

Pg. 53. Maryland real estate market update: Q4, 2021, by Emerick Peace. Pg. 57. September market report, by Dr. Karen Lewis. Pg. 14. American’s opinion on the economy of the Pg. 61. What’s the point of mortgage points?, by country is deteriorating according to a new Adriana Montes. poll

POWER ECONOMICS

Pg. 16. Labor shortage, supply constraints and inflation hold back the economy

POWER REAL ESTATE Pg. 18. Home prices in Q3 indicates a possible market cool down Pg. 20. There is a rent increase crisis in America pressuring people at risk of eviction 4l

WEST COAST EDITION: Pg. 67. Tips to help you move easily from the city to any suburb in Arizona, by Yvonne McFadden. Pg. 71. Are you thinking of remodeling in Arizona? Consider the effect it may have on your insurance, by Peggie Simons. Pg. 75. It’s important to first ‘test drive’ your next home, by Kamesha Keesee. Pg. 79. Want to buy a vacation home? Here are

five things you need to consider, by Ruby Frazier. Pg. 83. Hey sellers, stagging your home is not the same as decorating, by Marisa and Demarco Fletcher. Pg. 86. John Bryant, CEO of Operations Hope. Pg. 91. Ten maintenance tips every first time home buyer should know, by Cornelius Jackson. Pg. 95. How to make your offer stand out in a hot market, by Jenny Gonzalez. Pg. 99. 5 Nevada programs homebuyers should know about, by Danon Burnside. Pg. 103. Difference between being pre-qualified and pre-approved, by Danon Burnside. Pg. 107. Are you ready to become a landlord?, by Denise Matthis. Pg. 111. 6 skills every homeowner should know, by Robert Langston. Pg. 115. Be careful, you might become a renter again, by Kate Nash. Pg. 119. San Diego market update for Q4, 2021, by Candace Thrower. Pg. 123. What form do you use for that? Understanding real estate transaction forms, by Briana Frazier. Pg. 127. What’s title insurance? What’s there to know about title insurance?, by Adrian Bates. Pg. 131. Yes you may be experienced in selling homes, but don’t quit on your agent yet, by Success Money. Pg. 135. Opinion: Why a higher offer is not always the best offer, by Joe Fisher.

POWER LEGAL Pg. 138. Mortgage fraud on the rise amid rise in purchase loan share.

POWER MORTGAGE Pg. 140. Opinion: why are Gen Xers preferring reserve mortgage products? Pg. 142. New Option now available: the 40 year mortgage option.

POWER AGENT Pg. 144. Some useful tips to improve your bio online and make you stand out! Pg. 146. 5 strategies for brokers to improve performance and outcomes.

POWER HEALTH Pg. 148. World Aids Day: the Impact HIV/AIDS has had on Families wellbeing and access to housing l

FROM THE EDITOR

t is the season to be jolly, well, not yet, but we are in the final leg of 2021, and I cannot stress how happy I am. As the year draws to a close, this is a time to reflect on the year that has been while we look forward to new beginnings when the new year comes.

It is a time to appreciate the battles we have fought this year and acknowledge both wins and losses. This year is different from the last when the pandemic made the world stop on its tracks. The pandemic is still with us, but we can connect with our family and friends at least now. We have lost loved ones to the virus, and I guess in that regard, 2021 is similar to 2020. And that has to be the worst part of the year, grieving for friends, family, and colleagues, and it is my hope that in time we shall heal. When the year started, America was gearing towards a new presidency— Donald Trump was out, and Joe Biden was in. And though we expected a somewhat peaceful transition, the events of January 6 reshaped the American political scene. In what some people referred to as a coup, Trump supporters violently stormed the Capitol building disrupting the proceedings slated to complete the recognition of the election of Joe Biden and Kamala Harris. Despite that, the nation rose above those events, and peace was restored. With the Biden Administration, Covid-19 took center stage with accelerated vaccine roll out to the U.S. populations. It is also noteworthy that vaccines are currently available to children aged five to eleven – a great stride to herd immunity. A fit that has enabled you and your family to enjoy this Christmas. The real estate scene has also seen some developments worth highlighting. With many federal moratoriums and eviction bans lifted, many Americans were headed to foreclosure and eviction. Amid the housing crisis, some states California included made arrangements to help cushion those facing financial hardships, but with most expired, the housing crisis is only about to get bigger. 6l

THE POWER IS NOW MAGAZINE | DECEMBER 2021

However, Ginnie Mae announced that they would be launching the 40-year mortgage option. An option that would see homeowners in financial distress be able to make smaller monthly mortgage payments over an extended period— helping these families fend off eviction and foreclosure. This year has also been one where strong Black entrepreneurs are giving back to the community. Billionaire Robert F. Smith gifts thousands of Stock to help black and Latinx kids become shareholders. Through a collaborative effort with other corporations, the One Stock. One Future movement is calling for other organizations to donate at least 1000 shares to young minority children. A move aimed at promoting financial literacy and generational wealth. In the same vein, John Bryant, CEO of Operation Hope, announces a new program to support financial literacy for all. The Financial Literacy for All initiative is also a collaborative effort with

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major companies, and it is one we discuss in this month’s issue, so be sure to read it. This December will also address the issue of green energy and the role California is playing. At the same time, it will also feature how the California oil industry is a health hazard and an environmental one. At the Power Is Now, we would like to thank you all for your continued support throughout the year. We would also like to invite you to read, listen and watch our online blogs, latest magazine issues, and podcasts—all invaluable sources of knowledge on matters of finance, real estate, and success.

ERIC L. FRAZIER MBA President and CEO The Power Is Now Media, Inc.

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Maybe California Needs to Shut Down All of its Oil Drilling Operations

pproximately 2.1 million people in California live within half a mile of an oil or gas well, according to a 2020 analysis by FracTracker Alliance. This nonprofit organization collects data on the health consequences of oil and gas development. Californian’s well fields are primarily located in residential neighborhoods. California produces an upward of 140 million barrels of oil every year. Unfortunately, even with California being a leading oil producer, there are no buffer zones to protect residents from oil gas and extraction. Considering that the state’s oilfields are primarily old and their wells outdated, they require a lot of high-tech to drill, resulting from toxic chemicals. Unlike rural oil-producing states, where oil fields are uninhabited save for the miners working on them, California’s Kern County produces 70 percent of the state’s oil, and pump jacks are seen hovering over the elementary school in Shafter. And to the South near Long Beach, drilling rigs silhouette the playing fields. On top of that, Los Angeles and San Francisco Bay area’s refineries, located in neighborhoods, handle the dirtiest oil in the world—from Alberta’s Athabasca oil sands to its very own carbon-heavy crude oil. A situation that is only getting worse, between 2015 to 2020, California issued

more than 25,000 permits for drilling new wells and redrilling older ones, with more than 60 percent of them in Spanish-speaking communities. Last month, an underwater pipeline leaked for several days, covering the coast for miles in sticky oil. As of last month, the oil had infiltrated a crucial coastal wetland habitat in Huntington Beach, dispersing the oil even further to the south. Scientific research has documented the health problems exposed to people living near these neighborhoods. A 2012 study done by the University of Colorado found that people who lived within a mile of a fracking site had a higher risk of developing cancer. The study pointed to the exposure of Benzene, a known carcinogenic detected near oil facilities. In a separate study in California, a connection was found between exposure to oil and gas well sites and spontaneous preterm birth. In yet another study published last year, researchers looked at birth records from 2006 to 2015 in rural California. They linked low-birthweight babies and other adverse birth outcomes with proximity to oil and gas wells. The state of California for years has been in the business of promoting rather than managing oil production- Something that was revealed in an investigative report done in 2019. A report that showed that leaders

THE POWER IS NOW MAGAZINE | DECEMBER 2021

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in the state Department of Conservation’s Division of Oil, Gas, and Geothermal Resources had investments in major oil companies. Since state Governor Gavin Newsom took office, fracking permits have more than doubled. Since the report’s airing, Newsom made some adjustments and renamed the division to Geological Energy Management Division (CalGEM). The body recently proposed that the state ban new oil and gas drilling with 3,200 feet of schools, homes, and hospitals to protect public health—thus establishing the largest buffer zone in the country. The proposal faces opposition from oil and industry and labor allies who warn that the plan would raise California energy prices—something that would bring political consequences for the governor. The ambitious proposals will take a long time before it becomes policy, earliest 2023, and unfortunately, it will not shut down the existing wells within 3,200 feet from communities and schools. However, should the proposal be passed, these wells will be subjected to new pollution controls. A coalition that advocates for Black, Brown, and Indigenous communities in heavily populated areas commended the proposal by Newsom. ABOUT ERIC FRAZIER: Eric Lawrence Frazier is President and CEO of the Power Is Now Inc. The Power Is Now is a multimedia company specializing in real estate and mortgage education for consumers and real estate professionals on various topics in real estate, lending, economics, and government policy since

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September 1, 2009. The financial and real estate information is distributed through BlogTalkRadio, iTunes, TuneIn, and other online radio platforms nationwide, as well as online TV and eMagazines. Connect with Eric Frazier DRE 01143484 | NMLS 461807 | Office: 800-401-8994 x 703 | Direct: 714-361-2105 and start your real estate investment journey or homeownership in safe hands. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media

Work Cited https://www.climatechangenews.com/2021/05/07/california-biggestproducer-planning-go-beyond-oil/#:~:text=California%20would%20 be%20the%20biggest,biggest%20US%20state%20oil%20producer. https://e360.yale.edu/features/the-oil-well-next-door-californias-silenthealth-hazard https://www.latimes.com/opinion/story/2021-02-26/california-health-oilgas-drilling-hazards-buffer-zones https://www.nationalgeographic.com/environment/article/why-iscalifornia-still-drilling-for-oil-despite-its-ambitious-climate-goals

Save California Solar Coalition Urges Gov. Newsom to Protect and Strengthen Rooftop

he state of California has some of the most ambitious climate goals in the country, aiming for net-zero emissions by 2045. Ambitious because the state hopes to achieve this goal five years earlier than federal goals. California boasts of having one of the most vital environmental rules and regulations; fossil fuel production flaws notwithstanding. However, the state has come under a lot of heat as the California Public Utilities Commission (CPUCC) considers changing the “net energy metering,”—a state policy that makes rooftop solar more affordable for consumers of all types. The policy compensates consumers for the excess energy they produce and share with their neighbors. About 1.3 million consumers benefit from the net energy metering policies, including; thousands of public schools, churches, and affordable housing developments. The policy is the primary driver of California’s world-renowned rooftop solar market. The changes stem from big utilities lobbying for CPUCC to charge a solar penalty fee of between $56 to $91 per month to homes that have a solar panel on their homes. On top of that, these big utilities are pushing for a slash on the credit solar users receive for sharing their surplus energy with the community sent back to the grid by 77 percent. Additionally, these utilities propose that consumers be prevented from carrying their unused solar credits forwards from month to month. 10 l

Proposals place these big utilities in a position that will see their profit at the expense of the public. Should these proposals go through, the onceaffordable solar energy will now become accessible for most Californians. It is expected that California will be prone to more blackouts and will cost the state tens of billions of dollars over time, and each ratepayer $295. Rooftop solar, coupled with a battery, protects households and entire communities from power outages. Rooftop solar also reduces the need to spend as much money on long-distance power lines, saving all ratepayers money. According to the Solar Rights Alliance, long-distance power lines are why utility bills have risen to the levels they have and are the ones that have sparked several wildfires. To fight back, Clean energy activists dressed up in costumes, a giant sun, and solar-powered battery and took Berkeley streets on October 2, calling for public support for rooftop solar, encouraging passerby to sign a petition to the governor and CPUC. The activists are calling on Gov. Gavin Newsom and CPUC to stop big utility companies such as PG&E from profit grabbing. “California is a solar state where the sun belongs to everyone, not PG&E,” said Susanna Porte from Save California Solar, a coalition of over 250 organizations focused on making rooftop solar THE POWER IS NOW MAGAZINE | DECEMBER 2021

more affordable. The Save California Solar Coalition has taken it a notch higher, launching a new advertising effort, taking on broadcast television, cable, and radio ads to gain the attention of the governor and the CPUC. A video ad dubbed “Powered by the Sun” illustrates the importance of Rooftop solar, with Bay Area small solar business owner Jeanine Cotter saying, “Building a clean energy future… saving consumers money and creating good jobs.” The video ad will be airing during primetime news on KTVU and MSNBC in the Bay area. On primetime news on KCRA, MSNBC, and CNN in Sacramento. In the radio version, “If Utilities Get Their Way,” the coalition over the allocated 60 seconds shares findings of a new study that show how the utilities plan could ultimately cost the average family nearly 300 dollars a year in higher energy costs. Ultimately, rooftop solar is a critical step in fighting climate change and saving the ecosystem. And the net-metering policy not only benefits those with solar panels but also those without. Additionally, investing in rooftop solar means that California will be safe from power outages. If California achieves its netzero emissions at its set timeline, the CPUC and Gov. Newsom should choose public interest over utilities companies. ABOUT ERIC FRAZIER: Eric Lawrence Frazier is President and CEO of WWW.THEPOWERISNOW.COM

the Power Is Now Inc. The Power Is Now is a multimedia company specializing in real estate and mortgage education for consumers and real estate professionals on various topics in real estate, lending, economics, and government policy since September 1, 2009. The financial and real estate information is distributed through BlogTalkRadio, iTunes, TuneIn, and other online radio platforms nationwide, as well as online TV and eMagazines. Connect with Eric Frazier DRE 01143484 | NMLS 461807 | Office: 800-401-8994 x 703 | Direct: 714-361-2105 and start your real estate investment journey or homeownership in safe hands. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media Work Cited: https://environmentcalifornia.org/news/cae/broad-coalition-tells-gov-newsomsave-california%E2%80%99s-solar-power https://www.savecaliforniasolar.org/supporters https://list23.com/295727-save-california-solar-launches-broadcast-tv-cableand-radio-ads-urging-cpuc-and-governor-newsom-to/ https://www.latimes.com/environment/newsletter/2021-11-04/future-of-rooftopsolar-up-for-grabs-in-california-boiling-point

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ccording to a new poll, Americans’ views on the economy have deteriorated significantly in the last month, with over half expecting the economy to worsen in the coming year. According to a poll conducted by The Associated Press-NORC Center for Public Affairs Research, only 35 percent of Americans consider the national economy to be good, while 65 percent consider it to be terrible. This indicates a drop from September, when 45 percent of Americans said the economy was doing well. The decline in Americans’ economic sentiment is associated with the rising cost of products across the country making purchasing more difficult. Consumer prices jumped 5.4 percent from a year ago in September, as per the Labor Department. Roughly, 47 percent of Americans believe the economy will worsen in the coming year, compared to only 30 percent who expect it to get better. Joseph Binkley, a resident of Indiana, said that there might be inflation but this is just a temporary economic problem.“ I think it’s mostly a supply-demand issue, as the economy is improving,” he added. Despite the decline in Americans’ economic outlooks,

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AMERICA’S OPINION OF THE ECONOMY OF THE COUNTRY IS DETERIORATING ACCORDING TO A NEW POLL

the AP-NORC poll revealed that people were generally optimistic about their financial conditions. 65 percent of Americans feel their financial status is favorable while, 24 percent believe their finances will deteriorate in the coming year. Additionally, the study reveals that the pandemic has aided employees’ negotiating power in that, 36% of Americans are very or extremely sure that if they wanted to, they could find a good job, while another 35% say they are ”somewhat confident.” It however is sad but true that, there are still economic disparities between Black and Hispanic Americans and white Americans. White people are far more confident in their capacity to pay an unexpected bill or medical expense than Black or Hispanic people are. State economic status keeps on shifting and is sometimes unpredictable. Supplydemand chain difficulties, unemployment, and inflation mostly affect economies. However, there is always a solution to control and stabilize the economy only if the government applies the right strategies. The world’s economy was drastically affected by the pandemic, and this is no different for America’s economy. Any economic change affects all other sectors including real estate. You can still invest in homeownership even with an WWW.THEPOWERISNOW.COM

unfavorable economic status. Make the Power Is Now Media Inc. your real estate partner and live with no worries of economic uncertainties. ABOUT THE POWE IS NOW The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage in various thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help make your homeownership dream a reality. Go to www. neverrentagain.com and get started today. Eric Lawrence Frazier MBA Vice President and Mortgage Advisor of First Bank, NMLS 461807. President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com

https://www.cnbc.com/2021/11/01/americans-souron-economy-amid-inflation-woes-ap-norc-poll-finds. html

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the outbreak. The economy increased at the slowest pace in the third quarter, at only 2%. The pandemic shutdown’s unusual nature has resulted in a slower and now shallower recovery than expected, as the economy battles to overcome supply chain disruptions, labor shortages, and price inflation. Consumer expenditure, which accounts for almost twothirds of the US economy, increased by 1.6 percent in the third quarter.

Labour Shortage, Supply Constraints, and Inflation Hold Back the Economy

hey are the primary engines that propel most countries’ economies. The value of the economy is directly affected by labor availability, inflation, and supply restrictions. Furthermore, they are linked since labor shortages result in orders being delayed or canceled. As a result, prices for accessible items rise, and inflation is hotter and more persistent than projected due to rising commodity costs. It is where the US economy stands, just like most other countries’ economies boosted by 16 l

LABOUR SHORTAGE Economists believe shifting demographics, such as the aging and retirement of workers, border controls and immigration quotas, and demands for better compensation and flexible working conditions, are all contributing to the shortages. The pandemic lockdown has forced most employers to send most of their employees home to keep up with the WHO guidelines and rules. It has affected workforce efficiency in most organizations leading to unreliable sources of supply to the consumers. As per Chief economist Diane Swonk, “Hiring should improve now since there are more vaccines and immunity also.” However, despite companies bringing back the personnel less, demand is still surpassing supply. The longer these pandemic-related distortions and the pandemic endure, the more workers will be permanently displaced. SUPPLY CONSTRAINTS They are limitations on a market’s ability to offer goods and services stock. COVID-19 problems, combined with a surge in demand, have resulted in a supply-chain catastrophe. Worker, equipment, and space shortages have only exacerbated the problem. The rate of supply is still low compared to the demands in the market. With the workforce shortage, there is a low supply of output available for users. INFLATION In an economy where prices rise due to high production costs and, consumers have high purchasing power, inflation is always the THE POWER IS NOW MAGAZINE | DECEMBER 2021

result. In September, the consumer price index consistently rose above 5 percent with a core CPI at 4 percent as recorded by Fed. According to Mellon chief accountant Vincent Reinhart, the economy might increase by around 3.5 percent in the fourth quarter and grow by 2.5 percent by the second quarter of 2022. Inflation is also expected to remain over the Fed’s 2% objective, according to economists. With higher inflation, the Federal Reserve may be forced to stop its zero-rate policy sooner than expected. Traders are already anticipating three rate hikes next year, and the fear is that if the Fed starts raising rates, the economy will slow. It is always the government’s responsibility to control and stabilize the economy. Mainly, this is by taking concerns of tax rates, interest rates, and government expenditures. Despite the “unfavorable” situation of the economy, your homeownership dream is still valid. Contact The Power Is Now Media Inc to find out how. ABOUT THE POWER IS NOW MEDIA INC. The Power Is Now Media Inc. is an advocate for WWW.THEPOWERISNOW.COM

the empowerment of the minority communities all around the United States. We engage in various thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help make your homeownership dream a reality. Go to www. neverrentagain.com and get started today. Eric Lawrence Frazier MBA, Vice President and Mortgage Advisor of First Bank, NMLS 461807 President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com References https://www.cnbc.com/2021/10/29/labor-shortage-supply-constraints-andinflation-hold-back-economy-trying-to-emerge-from-pandemic.html https://www.usnews.com/news/economy/articles/2021-10-20/fed-findseconomy-growing-but-hampered-by-labor-materials-shortages-and-risingprices

Home Prices in Q3

Indicate a Possible Market Cool Down

Incentivized by several factors, such as the record-low interest rates, increased work-from-home opportunities, and the uncertainty caused by the pandemic pushing people to settle down, the market was flooded with new buyers, drying up even the existing inventory. Last year, the Federal Reserve took steps to keep the financial market liquid by ensuring mortgage rates remained low in 2020 and 2021. Coupled with the supply and demand dynamic, price appreciation went through the roof in double-digits. According to a CoreLogic report, home prices nationally, considering distressed sales, grew by 17.2 percent in June 2021 compared with June 2020. But with vaccination levels up and the economy in recovery, are home prices dropping? If they are, what does that mean for homebuyers? 18 l

PRICE DECELERATION HAS BEGUN It does not call for a celebration yet, but the tables are turning. For most 0f 2020 and 2021, the housing market has been primarily a seller’s market—with sellers having the upper hand. A market that saw the demand outweigh the supply, leading to bidding wars that resulted in homes selling well above the asking price. Price deceleration in some parts of the country has begun as more inventory has become available to mark the shift. The rate of price decoration is not uniform, with some areas experiencing it at a faster rate than others. In Boise and Idaho, where home prices went up by 30 percent in the past year, asking house prices are being slashed, with bidders no longer having to waive inspections to entice sellers.

”You’re seeing the fear of missing out switching from buyers to sellers,” Dominic Zimmer, a realtor, told Bloomberg. ”Now sellers are afraid of not scoring the way their neighbors did a year ago.” In metro-cities such as Phoenix, San Diego, Tampa and Florida, they experienced the highest year-over-year gains among 20 cities in August. With Phoenix taking the prize with a 33.3 percent year-over-year price increase, followed by San Diego with 26.2 percent and Tampa with a 25.9 percent increase. While that data is indicative of a strong market, cracks are forming, and experts predict that prices will continue to decrease. ”We have previously suggested that the strength in the U.S. housing market is being driven in part by a reaction THE POWER IS NOW MAGAZINE | DECEMBER 2021

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s much as we would like to think that home prices began to rise during the pandemic, that is not the case. Pre-pandemic, the demand for homes was already very high, with the supply struggling to keep up for years. When the pandemic hit in 2020, the demand quadrupled, the housing supply shrinking even further.

to the Covid pandemic, as potential buyers move from urban apartments to suburban homes,” said Craig Lazzara, managing director and global head of index investment strategy at S&P DJI. ”August data suggests that the growth in home prices, while still very strong, may be beginning to decelerate. Across the country, price appreciation slowed down for a second month in September as part of the cool down, Zillow reported. Price deceleration, however slow, indicates that the housing market boom—fueled by low-interest rates and remote-work moves—is losing intensity. The decrease was more visible in areas far away from major urban hubs where buyers are seeking affordability.

“The markets where we’re seeing the most price cuts were flying a little too close to the sun earlier this year,” said Daryl Fairweather, chief economist for the brokerage Redfin. Price deceleration may stem from several reasons; increased supply, low mortgage application or buyer fatigue. Whichever the case, homebuyers will face another hurdle in Q4 as mortgage rates begin to rise into next year, affecting home affordability. And while price appreciation is beginning, home prices are still high and well out of many homebuyers’ reach. With that said, firsttime homebuyers should pull all the stops and buy now when mortgage rates are low. If they cannot come up with down payment and closing costs, they should check out Golden State Realty for down payment assistance programs. Homebuyers looking to settle in the Southern Carolina region should contact our real estate agents, with years of experience servicing the different areas in Southern Carolina; Fontana, Riverside, Irvine, Corona and Atlanta at www. thepowerisnow.com.

WWW.THEPOWERISNOW.COM

ABOUT ERIC FRAZIER: Eric Lawrence Frazier is President and CEO of the Power Is Now Inc. The Power Is Now is a multimedia company specializing in real estate and mortgage education for consumers and real estate professionals on various topics in real estate, lending, economics, and government policy since September 1, 2009. The financial and real estate information is distributed through BlogTalkRadio, iTunes, TuneIn, and other online radio platforms nationwide, as well as online T.V. and eMagazines. Connect with Eric Frazier DRE 01143484 | NMLS 461807 | Office: 800-401-8994 x 703 | Direct: 714-3612105 and start your real estate investment journey or homeownership in safe hands. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www. thepowerisnow.com Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media

Work Cited https://www.noradarealestate.com/blog/housing-market-predictions/ https://www.forbes.com/sites/forbesbizcouncil/2021/10/14/is-the-housingmarket-in-a-bubble-3-reasons-why-the-answer-is-no/ https://www.forbes.com/advisor/mortgages/when-will-the-housing-marketcool-off/ https://www.bloomberg.com/news/articles/2021-10-22/will-home-prices-godown-real-estate-starts-to-cool-in-covid-boomtowns https://calculatedrisk.substack.com/p/the-coming-deceleration-in-house https://www.cnbc.com/2021/10/26/august-home-prices-hinted-at-possiblecooling-sp-case-shiller.html

There Is a Rent Increase Crisis

efore Covid hit, the United States was in the middle of a housing crisis. One that got worse when the pandemic hit, an estimated 30 to 40 million people in America were facing the risk of eviction. In what is called ”the Covid-19 housing crisis”, there has been an increase in foreclosures and bankruptcy—especially for small property owners. Conversely, there have been long-term harm to renter families and individuals, disruption of the affordable housing market, and destabilizing communities across the United States. During the pandemic, countless studies have been done, analyzing the pandemic’s impact on public health and the economic depression that has hit renters and the housing market. Studies have shown that Covid-19 has led to numerous job losses that have meant that many people in the United States cannot make rent payments. According to research, more than 20 million renters live in households with a Covid-19 related job loss. In July and March this year, the unemployment rates were anywhere between 11.1 and 14.4 percent. With communities of color experiencing job losses at higher rates than their White counterparts. Job loss has been made worse by the recent expiration of pandemic unemployment insurance. Late last year, experts predicted that communities of color would be the worst hit when moratoriums run out, especially because communities of color are twice as likely to be renters than the White population and are more often than not from lowincome earners and are rent-burdened. With the economy recovering, and eviction 20 l

moratorium, tenants are anxious as rent continues to rise. In Q3 of 2021, rent rose at 10.3 percent annually in professionally managed apartments, according to data from RealPage. The data analytic firm data showed that vacancy rates dropped below 3 percent for the first time in three years. In a shocking turn of events, adjusted rents rose by $150 from the beginning of the pandemic to $1,580. However, these rents do not consider the prices of units owned by smaller landlords—the more affordable units. In October, national rent prices went up both short-term and long-term, with both one-bedroom and two-bedroom apartments increasing by 20 percent year-over-year each. For a one-bedroom home, the rent was $1,660, up 7.7 percent from last month. The rent for a two-bedroom home was $1,964, up 7.1 percent from the prior month. Nationally, about 90 percent of all states experienced a rent increase for both onebedroom and two-bedroom homes. Irvine CA, Santa Ana CA, Scottsdale, AZ, and New York, NY experienced the highest year-over-year rent increases. On the other hand, Huntsville, AL, Durham, NC, and Philadelphia, PA experienced year-over-year price decreases. The rapidly increasing rents are frustrating the effectiveness of emergency rental assistance— the only remaining federal tool that can help struggling renters. Landlords amidst the housing boom rush to sell their buildings, failing to renew their tenants’ leases. Many attributed their decision to the red tape that prevented them from accessing the federal rental assistance program. THE POWER IS NOW MAGAZINE | DECEMBER 2021

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in America Pressuring People at The Risk of Eviction

“Landlords seem anxious to move tenants out so they can go out and take advantage of those higher rents,” said Zach Neumann, director of the Covid-19 Eviction Defense Project in Colorado. Several factors have contributed to the higher rates; in-person work and school, would-be homeowners remaining renters because they are priced in the market, and the overall lack of housing. In Atlanta, gentrification is in part to blame, with luxury homes replacing the more affordable options. In 2019, renters in Atlanta saw half or more of their salaries go towards rent. The rent increases pain extending to organizations such as the Veteran Empowerment Organization, which finds veterans a transitional home when they leave active duties. If you are a renter at crossroads during this pandemic, research and learn what rights you are entitled to in your city. And though landlords are allowed to revise rent with every lease renewal, there are rules that they must abide by. In Oregon, the rent increase is capped at 7 percent, plus inflation—many cities in California have a similar cap. ABOUT ERIC FRAZIER: Eric Lawrence Frazier is President and CEO of the Power Is Now Inc. The Power Is Now is a multimedia company specializing in real estate and mortgage education for consumers and real estate professionals on various topics in real estate, lending, economics, and government policy since September 1, 2009. The financial and real estate information is distributed through BlogTalkRadio, iTunes, TuneIn, and other online radio platforms nationwide, as well as online TV and eMagazines. Connect with Eric Frazier DRE 01143484 | NMLS 461807 | Office: 800-401-8994 x 703 | Direct: 714-361-2105 and start your real estate investment journey or homeownership in safe hands. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia WWW.THEPOWERISNOW.COM

company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media Work cited https://www.nytimes.com/2021/10/18/us/eviction-rising-rent-cost.html https://www.bloomberg.com/news/articles/2021-09-09/rents-rise-in-all-big-u-scities-for-first-time-since-covid-hit https://edition.cnn.com/2021/09/30/homes/rents-going-up-in-us-feseries/index. html#:~:text=The%20national%20median%20rent%20rose,List%2C%20a%20 rental%20listing%20site.&text=Since%20January%2C%20the%20national%20 median,%25%2C%20according%20to%20the%20report. https://www.apartmentguide.com/blog/apartment-guide-annual-rent-report/ https://www.cnbc.com/2021/11/01/rents-are-bouncing-back-what-to-do-ifyou-expect-a-big-increase-.html

CORONA MARKET UPDATE Leading the conversation about real estate

JANURY 11, 2022

7:00 PM PST

Corona

Listen and whatch us on:

AGENDA:

HOST: JENNY GONZALEZ Real Estate Agent DRE#01249788 (951) 316-0374 jengonzalezre@gmail.com

1. Market data on what’s happening in Corona. Corona is on fire. 2. What is new in Corona for it’s residence and why you may want to move to Corona if you are not already here? 3. Down payment assistance from Golden State Financing Authority.

GUEST: WES SPEAKE Mayor of the City of Corona Wes.Speake@CoronaCA.gov 400 S. Vicentia Ave, Corona CA 92882 Tel: (951) 736-2370 Mobile: (951) 833-8060

In this episode Jenny Gonzalez, Real Estate Agent with Keller Williams, license #01249788 is interviewing the Vice Mayor of Corona: Wes Speake. An update on new Housing Issues and what the City of Corona is doing to help with jobs and infrastructure.

Connect with The Power Is Now Media, Inc. Eric L. Frazier MBA President & CEO (800) 401-8994 ext. 703 www.thepowerisnow.com

Is Self-Guided Tours the Future of Real Estate? If given a chance, would you tour a home on your own? a potential home buyer or leaser with an opportunity to visit an apartment or home in person, without a leasing agent or realtor present. They provide a buyer with the flexibility to tour the home or apartment when convenient for them, not based on leasing office hours.

More so when the pandemic hit, when it became challenging for property showings. Amid the uncertainty and social distancing being mandated, a safer and more reliable homeshowing model had to be adopted.

HOW DO THEY WORK?

During this time, virtual and self-guided tours picked in popularity, all providing clients a contactless home viewing experience. WHAT IS A SELF-GUIDED TOUR? The self-guide home tour route has proven to be extremely useful during the pandemic. As the name suggests, self-guided tours provide 24 l

Realtors who use the self-guided tour model often use a third-party service such as Rently. Companies provide realtors with the needed software, hardware, and customer support to make an agentless showing to potential prospects. Depending on the company the realtor uses, each is slightly different, but they generally work the same. The first step is scheduling, where a prospective buyer or tenant requests a tour with the property manager or realtor. The scheduling can be done through an app, email, or online. THE POWER IS NOW MAGAZINE | DECEMBER 2021

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raditionally, a real estate agent needs to “show” you a property and sell the home’s features to you. That has been the case for a long time, but with the digital era expanding, the real estate industry has had to adopt technology to meet evolving customer needs.

Step two covers the security aspect of the whole process—how do you know who is getting into the property. Before a prospect can enter the property, they have to be screened to verify their identity. To minimize the risk associated with these tours, cameras can be fitted indoors or outdoors or by having the prospects provide their ID, credit card, or other means of identification. The final step is touring, where a prospect will be given a one-time access code to enter the vacant property. And again, because of safety, if the prospect wishes to view the property again, they will have to apply for another code. ARE SELF-GUIDED TOURS THE FUTURE? Self-guided home tours have become more popular now among real estate professionals and prospects alike for a good reason. The appeal of self-guided tours is the potential of leasing more units more quickly—you can coordinate multiple visits per day. They eliminate the time wastage WWW.THEPOWERISNOW.COM

that traditional showings have— with self-guided tours, there won’t be the need for the ”Be back in 30 minutes” clock sign. But as much as these tours have gained popularity, they have existed long before the pandemic. Real estate market leaders such as Rently pioneered the idea as early as 2011. Realtors and property managers have leveraged self-guided tours, acknowledging their potential of having deals closed sooner. The majority of buyers will still work with a real estate agent in their home searches. However, self-guided tours are also here to stay. According to a survey of 3,500 Americans, 83 percent of the respondents said they would use self-guided home tours, despite a virtual tour being an option. Sixty-three percent of them added that they would take a home guided tour to view properties at their own pace, 69 percent said they would only use self-guided tours because of social l

radio platforms nationwide, as well as online TV and eMagazines. Connect with Eric Frazier DRE 01143484 | NMLS 461807 | Office: 800-401-8994 x 703 | Direct: 714-361-2105 and start your real estate investment journey or homeownership in safe hands. distancing. Forty-three percent of respondents preferred the option because they would get to view the property on the weekend or after business hours. The future is here; leasing and real estate agents have to be on board and learn the mechanics of how self-guided tours work. To the agent’s advantage, they can show multiple units simultaneously without having to drive from one location to another. For prospective clients, they can view a property at their own pace safely and securely. However, there is no shame if you want a traditional agent-guided tour, where you can ask questions. The Power Is Now Media Inc. has a carousel of qualified real estate agents that will be more than happy to help you sell or buy your next property. ABOUT ERIC FRAZIER: Eric Lawrence Frazier is President and CEO of the Power Is Now Inc. The Power Is Now is a multimedia company specializing in real estate and mortgage education for consumers and real estate professionals on various topics in real estate, lending, economics, and government policy since September 1, 2009. The financial and real estate information is distributed through BlogTalkRadio, iTunes, TuneIn, and other online 26 l

Work Cited: https://www.ameritexhomes.com/blog/why-you-should-start-offering-self-guidedhome-tours https://www.propmodo.com/are-self-guided-tours-closing-leasing-offices-forgood/ https://martensblog.com/are-self-guiding-tours-the-future-of-commercial-realestate/ https://tour24now.com/news/self-guided-tours-the-future-is-here/ https://www.ameritexhomes.com/blog/why-you-should-start-offering-self-guidedhome-tours https://smartrent.com/news/difference-between-virtual-tours-and-self-guidedtours/ https://www.multifamilyexecutive.com/property-management/self-guidedapartment-tours-gain-in-popularity_o https://www.realync.com/apartment-self-guided-tours/

THE POWER IS NOW MAGAZINE | DECEMBER 2021

2021

When buyers are in the market for a new home, they tend to start their search online. Real estate agents, therefore, leverage the power of technology to reach their prospective clients. Thanks to ever-evolving property technology (PropTech), real estate professionals cannot use a shortage of digital resources.

NAR Highlights Top Tech Tools Used by Real Estate Agents

t is one thing to have the technology needed and keep up with it. According to a National Association of Realtors, 41 percent of over 6,000 executives and senior executives say one of the biggest issues they’ll face over the next two years is keeping up with all the new technologies. The NAR report looked at the way technology is used in the real estate industry. And though it might be a fit for real estate agents to keep up with technologies, they can’t get enough of technology. MOST VALUABLE TECHNOLOGICAL TOOLS According to the report, respondents used the five most valuable technology tools in the past 12 months in their real estate. eSignatures being the most used tool, with 78 percent of respondents saying they used it. eSignatures were followed by local MLS apps/technology (54 percent), social media (53 percent), lockboxes (48 percent), and 28 l

video conferencing (39 percent). In the future, real estate agents felt that the top technology tools they would be using would include; eSignatures (73 percent), Social Media (53 percent), Local MLS Apps/Technology (43 percent), Customer Relationship Management (44 percent), and Lockboxes (43 percent). On emerging technology tools, 37 percent felt that drones, 34 percent cyber security, 5G and virtual reality would be the most impactful. TECHNOLOGY TOOLS PROVIDED BY BROKERS When asked what technology tools were provided by their Broker, the top five were; eSignatures at 57 percent, Customer Relationship Management CRM at 54 percent, Personal Websites at 54 percent, Transactional Management at 50 percent and Digital Marketing platform. When respondents were asked to rank the technological tools provided by their Broker and that they were most satisfied with, eSignatures made an appearance again. Making the least also was the Transaction Management, Customer Relationship Management (CRM), Personal Websites and Local MLS Apps/Technology tools. On the other hand, the respondents were dissatisfied with Personal Websites, Customer Relationship Management (CRM), Showing/Open House Software, Cyber Security and Transactional Management. BUSINESS EXPENDITURE ON TECHNOLOGY TOOLS In the past 12 months, real estate agents used on average $50 to $250, 36 percent monthly on technology in their business. Twenty-three percent of respondents spent over $500 on technology monthly on technology in their real estate business. Seventeen percent of respondents spent THE POWER IS NOW MAGAZINE | DECEMBER 2021

less than $50 every month on technology tools on because it was expected of them. The report also revealed that real estate agents were looking the extreme end. forward to more technology that would impact the running of their business. Real estate agents, CYBER-SECURITY INSURANCE however, seem oblivious to the importance of A whopping 63 percent of respondents said that cyber-security insurance. they did know whether they or their Brokerage were covered by cyber security insurance. ABOUT ERIC FRAZIER: Only 17 percent of respondents were, or their Brokerage had a Cyber-security insurance cover. Eric Lawrence Frazier is President and CEO of the Power Is Now Inc. The Power Is Now is a Twenty-one percent of respondents said that multimedia company specializing in real estate neither they nor their Brokerage is covered. and mortgage education for consumers and real estate professionals on various topics in real SOCIAL MEDIA estate, lending, economics, and government policy since September 1, 2009. The financial Social media has proven to be useful when it and real estate information is distributed through comes to creating visibility for businesses. When BlogTalkRadio, iTunes, TuneIn, and other online respondents were asked why they were on radio platforms nationwide, as well as online TV social media, 54 percent of them said they were and eMagazines. Connect with Eric Frazier DRE on social media because they were expected 01143484 | NMLS 461807 | Office: 800-401-8994 to be on social media. The second reason cited x 703 | Direct: 714-361-2105 and start your real was that social media helped build and maintain estate investment journey or homeownership in relationships with existing clients and help agents safe hands. promote listings. The most popular social media platform among real estate agents was Facebook, with 90 percent of respondents using Facebook, 52 percent using Instagram, 48 percent using LinkedIn, and 24 percent using YouTube. TOOLS THAT GAVE THE MOST PROMISING LEADS Social media was cited as the most successful tool in giving promising leads, with 52 percent of respondents crediting it. Second were Customer Relationship Management (CRM) tools with 31 percent and MLS sites at 28 percent. BOTTOM-LINE Technology in the report emerged as a marketing tool and, to some degree, a management tool. The technology tool most preferred for marketing is social media, despite many respondents saying they were only on social media platforms

ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media Work Cited https://realtybiznews.com/nar-highlights-top-tech-tools-used-by-real-estateagents/98764137/ https://www.newsbreak.com/news/2397385911730/nar-highlights-top-techtools-used-by-real-estate-agents https://www.nar.realtor/research-and-statistics/research-reports/realtortechnology-survey https://www.talktalkchina.com/nar-highlights-the-best-technological-tools-usedby-real-estate-agents-realtybiznews-real-estate-news/ l

SELECT A VIP AGEN Adrian Bates Los Angeles

Adriana Montes Florida

Candace Thrower San Diego

Cornelius Jackson Irvine

Danon Burnside San Bernardino

Denise Matthis San Diego

Jenny Gonzalez Corona

Julius Cartwright Ohio

Joe L. Fisher Richmond

Kamesha Keesee Corona

Briana Frazier Los Angeles

Emerick A. Peace Maryland

Johnnie Morine Texas

JT Burnside Las Vegas

Karen Lewis South Florida

Kate Nash Long Beach

NT IN YOUR AREA Marisa & Demarco Fletcher

Inland Empire

Monica Hill Menifee

Norman Green San Francisco

Peggie Simmons Arizona

Robert Langston Fairfield

Ruby Frazier Riverside

Sharon Bartlett Texas

Steve Peterson Oakland

Success Money LA Area

Yvonne McFadden Arizona

By Steve Peterson

What Does 2022 Hold for Commercial Markets

up, making housing more expensive. According to Fannie Mae, house prices may not cool off much. It expects median prices to rise 7.9%, which is considered as a slow growth compared to the prices seen this year. In essence, the housing market might return to normal in 2022. In this post, we will share some insights on the future of the commercial market and why you need to be at high alert.

s we wind down 2021, everyone is looking up to what 2022 will hold for the real estate market. While the real estate market is profitable and seen as one of the most stable markets in the United States, 2021 proved that it’s not so immune after all. The pandemic dramatically affected property prices across the market and even mortgage rates. Inventory was also affected, which led to homebuyers engaging each other in bidding wars.

THINGS THAT WILL IMPACT THE COMMERCIAL MARKET

BUT, WILL 2022 LIKELY CONTINUE IN THIS MANNER? Steve Peterson opines that the commercial market will witness some changes and adopt new trends in 2022, adding to the fact that the housing market may cool off over the next three years. The Fed will look to raise rates if inflation goes WWW.THEPOWERISNOW.COM

1. ETRADING SHARES

Trading shares of real estate assets will go electronically in 2022. Currently, the world is in the phase of eInvesting in commercial real estate, and will go mainstream in the coming year. With apps like Robinhood and FinTech solutions emerging, the barrier to entry will be lowered for people who want to invest, making real estate investing more accessible.

2. NATURAL DISASTERS

Natural disasters, such as wildfires will increase the rates of home fire insurance. As usual, hurricanes and storms in Florida are expected to continue to take a toll on real estate pricing and l

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insurance.

7. VIRTUAL TOURS

There will be more adoption of smart home technology in 2022. More investors will embrace 3D virtual tours, and more properties will have a 3D tour that will be used for marketing and operations purposes.

The National Association of Realtors revealed in a survey that most millennial homebuyers toured properties they chose online, and nine out of ten credited photos as the determining factor. Virtual tours will become the next big thing next year, as they provide buyers with a clear picture of where they will be living.

4. THIRD-PARTY OWNER REP.

8. CRYPTOCURRENCY FOR REAL ESTATE

3. SMART HOMES

The red-hot real estate market has made it difficult to find qualified professionals to handle project needs, such as construction. As a result, developers will turn to professional thirdparty owner representatives to assist. These developers will be counting on local experts to execute construction and projects through their scalability capabilities.

5. MIXED-USE ZONING

Mixed-use zoning is already taking place, but it will become one of the biggest trends in the coming year. Hotels will become housing, parking lots will become self-storage, etc. Reuse and repurposing of assets will become a new way to generate revenue in 2022.

6.MORE PROP TECH INNOVATIONS

The real estate market is already leveraging technology to improve service delivery and foster efficiency. Transactions and assets are now being handled more effectively, thanks to property technology. In 2022, this will become more typical. Prop Tech will transform the industry in a way that all processes will utilize digital services. Efficiency will be maximized, allowing professionals to focus on other aspects of the business.

TRANSACTIONS

Cryptocurrency is becoming more adopted in almost all the industries, and this will likely be the case in the real estate niche. More tenants will be willing to pay their rent in cryptocurrency, and more real estate companies will integrate crypto payments. CONCLUSION With the real estate market expected to cool off in 2022, you should take advantage of the opportunity to secure a home for yourself especially with the mortage rate still low. Reach out to one of our agents on the TPIN website. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www. thepowerisnow.com. Published by Eric Lawrence Frazier, MBA.

References https://fortune.com/2021/10/26/housing-market-2022-forecast-fannie-mae/amp/ https://www.google.com/amp/s/www.forbes.com/sites/forbesbizcouncil/2021/11/03/15-real-estate-pros-share-their-market-prediction-trends-for-2022-andbeyond/amp/

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THE POWER IS NOW MAGAZINE | DECEMBER 2021

By Norman Green

Selling your Home Without Any Help?

BUT IS IT WORTH IT…?

WWW.THEPOWERISNOW.COM

HARD TO GET CLIENTS Realtors avoid showing “for sale by owner” homes to their clients. The buyer’s agent knows that, in an FSBO deal, there won’t be a professional agent on the other end to make a deal . Sometimes a client may request to see the house but, the agent might discourage them from making an offer by telling them the risks of making a deal without a professional presentation by the seller. THERE IS NO ASSISTANCE WITH NEGOTIATING Negotiating is not an easy task-negotiating is an art form in many ways, especially when it comes to something as important as a home. You may believe you have the negotiating abilities to persuade a seller to accept your offer, but don’t hold your breath. Most sellers aren’t naive, they’ll almost certainly be accompanied by an agent. IT TAKES A LOT OF TIME Selling your house becomes a full-time job where you work on the client’s time. When a client wants to see your home, you have to rush and show it to them. Having to market your house at every l

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‘FOR SALE BY OWNER’ sounds like a pretty good deal. There is no realtor’s commission required and, saving up to 6 percent by not involving a realtor is tempting enough to make any seller prefer FSBO. However, the extra money saved by taking the FSBO route isn’t always worth the added stress and risk.FSOB has its advantages and, there are tips to buy FSBO available. On the other hand, this does not outweigh all the disadvantages and risks involved with this kind of selling.

possible opportunity and is available to receive calls from potential clients. All these make it impossible for one to continue living their life as they always have, to be on call or they may end up losing clients. UNQUALIFIED BUYERS Real estate agents have experience working with clients. It helps them to separate the jokers and unqualified buyers from the serious buyers. An FSBO lacks these experiences and these may lead to frustrations like rushing home after putting everything on hold to clean up and prepare the house for clients to come to see the house and they end up not interested in the house. LEGAL RISKS There is a lot of legal paperwork involved in a home sale transaction. One of the most important is the disclosure clause. A seller is supposed to disclose everything that affects the value or desirability of the property. Failure to do so could cause them to get sued by the buyer upon moving in and finding the flaw. Saving more is the objective of any home seller, and considering FSBO may seem like an option to achieve this but it is not. Any prospective seller should first understand the pros and cons of selling without a realtor to avoid regretting later. Having a real estate agent work with you saves you a lot of time, money, and risks. A realtor acts as a seller’s representative, they’re aware of what the buyers need, the state of the market, and has the best negotiation skills. You don’t have to take the long risky way to sell your home. Let The Power Is Now Media walk the journey with you. Contact our professional VIP agent Norman Green or the CEO Eric Lawrence Frazier and have your home selling journey smooth and successful. 38 l

ABOUT NORMAN GREEN Norman Green is one of the few African American brokerage owners in San Francisco. He has been a proud owner of Re/Max Prestigious Properties located in the beautiful west Portal area. Over the years, Norman has gained extensive knowledge in the real estate business. Norman has assisted in all aspects of real estate including, building from spect, purchasing, remodeling, flipping, and other investment-type activities. In addition, he has helped clients purchase commercial units from five to one hundred and fifty units. Along the way, he has built up an extensive network of resources in the real estate industry, which has allowed him to handle his investments client’s national portfolios. ABOUT THE POWE IS NOW MEDIA INC. The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage with various thought leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you better prepare for the future. We are also advocating for first-time –home buyers. The Power Is Now Media Inc. can help you make your homeownership dream a reality. Go to www.rentagain.com and get started today. Eric Lawrence Frazier MBA, Vice President and Mortgage Advisor of First Bank, NMLS 461807. President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com

References https://www.investopedia.com/articles/personal-finance/071514/8-reasons-not-sellyour-home-without-agent.asp https://www.rochesterrealestateblog.com/should-i-hire-a-real-estate-agent-to-sell-myhouse/ https://www.finder.com.au/sell-a-house/sell-house-without-real-estate-agent

THE POWER IS NOW MAGAZINE | DECEMBER 2021

LEADING THE CONVERSATION ABOUT REAL ESTATE

JOIN THE POWER IS NOW MEDIA VIP AGENT PROGRAM TODAY!

CONTENT MARKETING is the foundation of any successful brand The Power Is Now Media: 3 Reaches over 11 million households through our website, social media, and podcasts. 3 Starting Nov. 2021 Reach of 300 Million Households through Apple TV, Android TV, Roku, Fire Stick, and our own TV App

3 Brand your company 3 Promote your listings and business nationally on online Radio and TV 3 Promote your listings and business nationally in our monthly The Power Is Now National Magazine, and in our weekly Real Estate Magazine and Program Guide 3 Network with industry leaders and top agents 3 Lead generation opportunities and support 3 Business support, technology and marketing services

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By Johnnie Morine

Are you interested in a fixer-upper in Texas? Read this first

But at the end of this spectrum of choices, you’ll have a choice to make. Either buy a home that is ‘move-in ready’ or get a fixer-upper. These two options sit on the opposite sides of the spectrum of choices you have at the moment. One requiring more work and major renovations while the other requiring almost no work. This is an article that I dedicate to every homebuyer looking to buy a fixer upper. But, let’s get one thing clear, it is easy for you as a first time homebuyer to romanticize the outcomes, especially if you already like remodeling and forget the work you have to put in just to make it work.

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Also understand that there are a variety of fixer uppers, with some requiring some minor cosmetic updates while other require serious mechanical and structural fixes. One of the primary reasons why most people prefer fixer-uppers is the fact that you can invest your time into the project and build equity along the way. But, be very cautious and I would suggest that before you buy a fixer upper house, make sure that you understand what needs to be update and the specific timelines of each. Also consider the investment in terms of money you have to dedicate towards this project. Remember, with such a project, it is easy to find yourself in way over your head. IS IT WORTH IT? There are a lot of pros and cons of buying a fixer upper; the most obvious pro being that you can

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f you are a first time homebuyer, it is highly likely that you have innumerable possible options, and they all seem valid!

get this house with a lower price tag than what you would normally get with a move-in ready house. But, there is a catch, you may end up spending more in renovations just to make the house feel like home.

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Let me give you an example; Say you find a home worth $150,000, a fixer upper but is in a neighborhood where homes typically sell for about $200,000-$250,000. Using a simple mortgage payoff calculator, here is a glimpse of what you could be saving by buying a fixer upper: Home type

Fixer Upper

Move in ready

Home Price

$150,000

$210,000

Down payment

$30,000

$42,000

Loan Amount

$120,000

$168,000

Mortgage Payment (15year term)

$1,010

$1,380

Total interest rate (2.5% rate)

$24,000

$33,600

Looking at the example given, you see that a fixer Before buying a fixer upper in Texas; upper gives you a chance to save $60,000 on the overall price of the home and also, assuming 1. LOOK AT WHAT YOU ARE BUYING. that the home is actually cheaper, you may end When looking for a house to buy, it is easy up saving an upward of $12,000 on the down to overlook some of the issues for instance payment alone and over $10,000 in total interest. a worn out flooring may not seem like much. And that’s not all, the total monthly mortgage After all, these are easy fixes. But it is payments will be less which means that it will be important to keep an open mind and consider easier to make the necessary renovations which the layout of the home. Do not overlook any will fully restore the home. details. The main things that you should be looking at could be the layout of the home, foundation, are all mechanicals intact? I am With so many ways you could end up savings talking about things like the heating and extra money, it makes sense why so many cooling systems, water heaters, the water people get excited about the idea of a fixer upper. pumps and such. Also pay attention to the But, that may be the case, but it is important to cosmetics, look at what can be changed and also keep in mind that there is a reason why it what you can accommodate. is a fixer upper. If you mess up, either in buying bad bones or even overlooking some of the 2. IS YOUR BUDGET ALLOWING YOU? renovations, your investment may drain down the It is important to first figure out your budget sink! before hand and once you have it, make sure you stick to it. I have seen some shows To make sure that you don’t get duped into where a couple will appear with a budget buying a property that is worth less, talk to a of $300,000 but then they need to have real estate agent, reach out to me today through major structural changes to the walls or the https://www.thepowerisnow.com/johnnie-morine/ foundation and suddenly, they have another and let’s discuss the options available to you. $20,000 extra. That’s not realistic! 42 l

THE POWER IS NOW MAGAZINE | DECEMBER 2021

Once you find a home and its costs, figure out what you should offer including the repairs and stick to it! In addition, it is important that you remain flexible and be generous with your cost estimation. Take into consideration the cost of materials and labor it will take to make this fixer upper your home. Also make sure that your budget allows for a 5-10% for any problems that may arise during the renovation process. You will experience utmost fulfillment, enjoyment and peace out of buying a home. But, be honest with yourself about what you are truly capable of. Do not be afraid to reach out to me for more information about what it takes to buy a fixer upper in Texas today. ABOUT JOHNNIE MORINE DRE#0627302 | Texas Over the course of almost 30 years of running successful business and strategic partnerships, Johnnie’s simple philosophy and approach to life have taught him the value of commitment, motivation, collaboration and an entrepreneurial spirit. Starting small as a sales agent, and an entrepreneur back in 1984, the idea to venture in the real estate industry had always been with him, but had not yet materialized. Today, Johnnie runs a prolific real brokerage firm where Seasoned REALTORS realize the bottom-line and how it affects their lives.

Sources https://www.texasrealestate.com/members/posts/can-you-reallyhandle-a-home-makeover/ https://www.countryliving.com/life/entertainment/g35809430/ fixer-upper-rules/ https://www.ramseysolutions.com/real-estate/fixer-upper-home https://www.quickenloans.com/learn/buying-a-fixer-upper

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By Sharon Bartlett

Which mortgage is right for you? Part III

FHA Loan: 2021 complete guide

In this article, we look into FHA loans. • What is an FHA Loan? • What is the requirement of the FHA Loans? • What are FHA Loan rates? • How does an FHA Loan work? • What is FHA Mortgage Insurance? • What are some benefits of an FHA Loan? Let’s get started. WWW.THEPOWERISNOW.COM

FHA

loans are mortgages insured by the Federal Housing Administration. The insurance part protects the lenders which allow them to extend loan offers low-interest rates with eased requirements and a low downpayment (typically starting at 3.5%). The FHA was introduced in 1934 and plays a critical role in helping to finance for the first time homebuyers, minority buyers, and/or buyers that have a poor credit history. Additionally, FHA loans can cater to people with moderate incomes or people who cannot afford a 20% down payment. WHAT ARE THE STATISTICS ABOUT FHA LOANS? In 2012, almost half of first-time home buyers got financed through FHA loans and first-time buyers made up about three-quarters of FHA home purchasers that year.

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Part one and part two of this series were mostly introductory, introducing you to ‘which mortgage is right for you’ and part three of this series is where we now start getting serious, diving deeper into mortgages.

Looking at ethnicity, HUD reports that, FHA Loans account for more than half of all home loans for both African Americans and Hispanic buyers compared to onequarter of all home purchase mortgages nationwide. As previously mentioned FHA loans are extremely flexible, which means they appeal more to first-time homebuyers or low to moderate income people. That is not to say that other people are locked out of using the FHA loans, no, in fact, FHA loans are open to every citizen in the country. THE FHA LOAN REQUIREMENTS The following are some of the requirements of the FHA Loans; 1. A 3.5% down payment if your credit score is 580 or higher 2. A 10% down payment if your credit score is 500-579 3. A debt-to-income ratio (DTI) of 50% or less 4. Documented, steady income and employment history 5. You’ll live in the home as your primary residence 6. You have not had a foreclosure in the last three years You have to understand that these requirements are lenient compared to other types of mortgages and what they require. Just to illustrate, a borrower with a credit score of 500 can easily borrow an FHA loan but for other loans, you must have a credit score of not below 620. Additionally, looking at another factor of consideration, that is the Debt to income ratio, FHA loans allow borrowers to up to 50 46 l

percent in some cases while the max limit for DTI with conventional loans is 43%. What this means is that even if you carry more debt, you can still qualify for the FHA Loans. In essence, borrowers do not need to have a lot of money saved up or even be in top-tier income earners. FHA loans are designed for people deemed ‘out of reach’ by the conventional loan. FHA LOAN RATES One of the many things there is to love about the FHA loans is they offer low-interest rates. Let’s compare the FHA rates with conventional loan rates.

LOAN TYPE

CURRENT INTEREST RATE*

30-Year FHA Loan

2.75% (3.73% APR)

30-Year Conventional Loan

3.125% (3.125% APR)

15-Year FHA Loan

2.5% (3.442% APR)

15-Year Conventional Loan

2.75% (2.75% APR)

Looking at the data above, which by the way is up to date, you may worry because the APR for the FHA loans seems higher than that of conventional loans, but the APR takes into account the Mortgage Insurance Premiums while the conventional APR Rate only accounts for 20% downpayment and assumes that there is no private mortgage insurance. HOW DO FHA LOAN WORKS we‘ve talked about the FHA loan requirements, we’ve also covered the rates but how does it all work? Well, what you need to first understand is that FHA doesn’t give you any loan. What happens is that you get the FHA loan from the bank or a lender, just as you would any other type of loan. The Federal Housing Administration comes into THE POWER IS NOW MAGAZINE | DECEMBER 2021

play to insure the loan. Simply put, they offer protection to the lenders just in case the borrower defaults on their loan. In turn, because of this security, they can offer loans at more flexible rates and looser standards for qualifying. But there’s a catch… you have to pay for the insurance that protects the mortgage lender which is what I want to get deep into.

THE FHA INSURANCE Also called Mortgage Insurance Premium or MIP is what makes FHA Loans possible! Without the MIP many lenders wouldn’t have a reason to offer the FHA-Insured loans. When it comes to MIP, there are two kinds of MIP that are required for the FHA loan to work. One of the premiums can be payable as a lump sum at closing, while the other is payable as an annual premium. The best thing about this second option is that it gets cheaper as you pay off the loan;

• Upfront Mortgage Insurance Premium (UFMIP) = 1.75% of the loan amount for current FHA loans and refinances • Annual Mortgage Insurance Premium (MIP) = 0.85% of the loan amount most FHA loans and refinances. Going by 2020 rates, the MIP rates have dropped quite significantly and today’s FHA MIP costs are a much as 50 basis points (0.5%) lower per year than they were about 7 years ago. In addition, as a homeowner, there are different ways through which you can reduce what you owe as FHA MIP, but this will largely depend on your down payment and loan term where you’ll find that it is possible to reduce the length of your mortgage insurance to 11 years rather than paying it for the life of the loan. LOAN TERM

ORIGINAL DOWN PAYMENT

MIP DURATION

20, 25, 30 years

Less than 10%

Life of loan

20, 25, 30 years

More than 10%

11 years

15 years or less

Less than 10%

Life of loan

15 years or less

More than 10%

11 years

HOW TO FIND FHA LENDERS AND APPLY FOR THE FHA LOANS FHA lenders are easy to find, but it is important that you understand that different FHAapproved lenders have different rates, costs, and underwriting standards even if the loan is the same. These loans are available through many sources, for instance, you can get an FHA loan through the big banks, credit unions community banks, and independent lenders among many others. But how do you apply for the FHA Loan?

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HERE ARE A FEW STEPS THAT YOU MUST FOLLOW Understand your budget; Before you go ahead and fill out a bunch of papers and submit your application for the FHA loan, it is important that you understand what your budget is and how much you can actually afford to spend on a home. Carefully review what you are earning right now, your monthly expenses, your savings, and get an estimate of what your monthly payments will be like. Experiment with different house prices and different sizes of down payments. Get your documents in order; let’s get one thing straight, applying for a huge chunk of money means that you are willing uncle sam to look under the hood of your finances. Therefore, before he does, it is imperative that you get your documents in order. Have these documents in order before applying; two years of tax returns; two recent pay stubs; your driver’s license; and full statements of your assets (checking account, savings account, 401(k), and any other places where you hold money). Don’t settle with the first option; I have said this before! It is important that you take your time probing around, comparing rates and offers. Getting preapproved with multiple lenders is helpful. This will make sure that you get a taste of different refinance rates and terms to make sure you are getting the best the market has to offer. WHAT ARE SOME BENEFITS OF AN FHA LOAN? It doesn’t matter your credit score: people with low credit scores can still qualify for the FHA loans. If you haven’t established a solid credit history, or you’ve had trouble making on-time payments, and your credit score is a little bruised, you are not out of reach, you’re in good standing with FHA loans. Low Downpayment: with an FHA loan, you have the option to make a smaller downpayment. With a credit score of about 580, you can make 48 l

a downpayment of as little as 3.5 percent. Any score between 500 and 579 will require you to make a 10 percent down payment which is still affordable. FHA Loans give you a chance to stop renting earlier: buying a home with FHA Loans becomes easier especially after the fact that you are only paying a smaller down payment. This means that you will start building your equity sooner. Instead of continuing to rent, FHA loans make the dream of owning a home possible and sooner. Now that you understand what FHA loans are, it is time that you get into your new home, if you would like to know more about these loans, Talk to our mortgage advisor Eric Lawrence Frazier the Founder and CEO of the Power Is Now Media, at 800-261-1634 ext. 703. ABOUT SHARON BARTLETT LIC#0684103 | Texas Sharon Bartlett is a real estate and mortgage industry expert with almost 40 years of experience. After spending 35 years at Freddie Mac, Sharon set out on a path to create her dream job. She started with her consulting firm, Sharon Bartlett Consulting, LLC, which led to obtaining her real estate sales license and then creating a real estate training company, the Real Estate Academy for Learning (REAL). Sharon recently became the National Director of Operations for US REO Partners, a nationwide real estate trade organization that connects and trains REO professionals. To read more about Sharon, go to; https://www.thepowerisnow.com/ sharon-bartlett/

Sources; https://www.bankrate.com/mortgages/what-is-an-fha-loan/ https://themortgagereports.com/17567/fha-mortgage-rates-federal-housingadministration-assumable-203k-mip https://www.credible.com/blog/mortgages/fha-loans/ https://www.mortgageloan.com/fha

THE POWER IS NOW MAGAZINE | DECEMBER 2021

HOMEOWNERS

WHAT HOMEOWNERS SHOULD KNOW ABOUT TAX REFORM

Here’s what homeowners need to know about theTax Cuts and Jobs Act that was signed into law December 2017.

MORTGAGE INTEREST DEDUCTION • The limit on deductible mortgage debt

was reduced from $1 million to $750,000 for new loans taken out after 12/14/17. Current

loans of up to $1 million are grandfathered and are not subject to the new $750,000 cap.

• Homeowners may refinance mortgage debts existing on 12/14/17 up to $1 million and still deduct the interest, so long as the new loan

does not exceed the amount of the mortgage being refinanced. • Interest paid on home equity loans is only deductible if the proceeds are used to substantially improve the residence.

• Interest remains deductible on second homes,

DEDUCTION FOR STATE AND LOCAL TAXES (SALT)

• If you itemize your tax return, you can claim up to $10,000 total for state and local property taxes and income or sales taxes. This $10,000 limit applies for both single and married filers. • If you prepaid your 2018 state and local income taxes in 2017, you cannot deduct those taxes.

CAPITAL GAINS EXCLUSION

• Remains unchanged at $250,000 for single filers and $500,000 for joint returns if the house was lived in for two of the last five years.

HOUSING MARKET IMPACT • California’s median home price is projected to increase 3.2 percent in 2018. Overall, home sales in California are expected to grow in 2018. • The supply of available homes for sale will be slightly impacted, as homeowners may delay trading up/down to their next home. • Overall, the California housing market is expected to see a decline of 0.3 percent in active listings in 2018.

but subject to the $1 million / $750,000 limits.

Disclaimer: This is not intended to provide legal or tax advice. Application of provisions to particular tax situations need to be discussed with an accountant, CPA, or tax attorney.

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THE POWER IS NOW

MAGAZINE

EAST COAST EDITION

By Emerick Peace

or the past two years, the real estate market has been surging, so fast that people couldn’t keep up with it any longer.

Finally, Q3 saw the market take a breather that was a long way coming! The demand was none like we’ve seen before and not just in Baltimore, but all around the country! Perhaps one of the main reasons behind this crazy surge in demand and prices was the COVID-19 which saw housing prices skyrocket in Maryland as the supply dipped to hit record lows. COVID-19 meant a severe shortage of workers which stalled construction and not just that, we saw an increase in material costs. Factors which contributed to this rise in housing prices. WWW.THEPOWERISNOW.COM

Naturally, when a life threatening phenomenal such as Covid-19 happens, you expect that a slow to no activity almost in every industry. But real estate industry was unstoppable which proved a point. People were dying to own homes! But this silver lining in the real estate industry would quickly turn into a darkness for the real estate buyers as prices quickly surged to the point that they could not keep up! We saw a period where properties were selling in singledigit time periods which has resulted in serious bidding wars. Before we can begin speculating what the future holds, I thought it would be best to first remind ourselves where we are coming from. Just recently, Bright MLS released its data that l

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Maryland real estate market update: Q4, 2021

Starting March 2020, just around the time when the first case of COVID-19 was reported in the country, the market was loomed by uncertainty, especially when the people were forced to shelter in place threatening the economy. But in a twisted turn of event, the real estate market rebounded!

shows that the demand for homes decreased. This should not be surprising because it is a phenomenon being experienced almost in every major metro across the country. Bright MLS used a tool they call T3 Home Demand Index which measures the demand. The index found that the number of people seeking out homes fell more than 6% in a month and 12% since last year. IS THIS PRICE CHANGE GOING TO LAST FOR LONG? Nobody really knows! But it does tell us one thing about the market… consumers are changing their attitudes and perception about buying. When prices rise so fast that buyers can hardly keep up, they reach an ‘intolerable’ level. A level where buyers feel the affordability pinch. At this point the prices put so many buyers out of reach and naturally, buyers must first step out of the game, wait for the prices to level down before going back to the market. This is what is happening in Maryland right now. When buyers leave the market, there is no pressure on prices which means, prices will start falling. But for how long? We can only speculate. What I do know is that many people are getting into the groove for the holiday season, which means they MIGHT hold the buying plans for now and wait for next year. LET’S LOOK AT OTHER METRICS THE MEDIAN SALES PRICES February this year market the first instance where prices started rising surpassing the $310,000 mark by the end of February up from $300,000 mark. From Feb to June, the median sales prices in Baltimore was in an upward trajectory but started to decline steadily signaling a reversal. This has been sustained ever since. In September, the median sales price for homes in Baltimore reached $340,200 which is actually up more than 6% from a year ago but slightly down month over 54 l

month. The stats doesn’t apply to all counties, some actually had higher median sales prices than the overall median. In fact, places like Howard saw a median sales price of $450,000, Carroll $405,000 and Anne Arundel $415,000. In fact, in this list, only Howard County’s median sales price decreased from September 2020. CLOSED SALES Bright MLS reports that sales were slightly up from September 2020 and almost 24% from two years prior. There were 4,255 total sales in September in the Baltimore metro area. But moving forward, I think sales will drop quite significantly especially after the fact that fall and winter are perhaps the slowest months in real estate transactions compared to summer and spring. But there is a trend that will have to watch out for moving forward. There seems to be a general preference for townhomes and condos whose sales were up about 4% each from a year ago. Yet, the single family, detached homes were down by 1.1%.

THE POWER IS NOW MAGAZINE | DECEMBER 2021

While that may be the case, it is also important to also note that single family homes listings were down 10% from 2020 and this ‘preference’ for condos is an indicative of lack of availability. AVERAGE DAYS ON THE MARKET On average, homes spent eight days on the market in September which is down one day from a year ago. 7 days for Howard, Harford and Baltimore counties and 6 days for Carroll County. While the market might be slowing, Baltimore market is still considered much more active than it was prepandemic. My take? We’ve been in a crazy market for far too long that we’ve actually forgotten what a normal market truly feels like. While the supply for new inventory has been significantly down, it is good to point out that there has been some recovery, but the situation remains bleak. Supposing that homes continue to sell this fast, there is a great likely hood that the available inventory won’t last for more than 30 days. Just to illustrate, new listings were down slightly more than 3% from a year ago and the number dipped about 8% from August to September. However, this could be the seasonality of real estate but we should still take the market seriously and address supply issues because they threaten affordable options. This is the right time to buy a home and if you are wondering how to go about it, reach out to Emerick A. Peace, an Agent in Maryland. In addition, if you are more interested in find out what WWW.THEPOWERISNOW.COM

mortgage is right for you, we have tons of information about mortgages, in fact, for the last three edition of this magazine, and we’ve addressed this issue, looking into which mortgage is right for you, or alternatively, speak directly to Eric L. Frazier, a mortgage professional with over 30 years’ experience through 800-261-1634 ext. 703. ABOUT EMERICK A. PEACE Emerick Peace is the Operating Partner and owner of Keller Williams Preferred Properties (KWPP). KWPP is a multibillion dollar residential, luxury and commercial real estate sales brokerage with more than 570 associates located in Upper Marlboro, Maryland (Prince George’s County). Keller Williams Preferred Properties is the undisputed #1 real estate brokerage (market share, transaction and sales volume) in Prince George’s County Maryland and one of the largest single office brokerage on the eastern coast. Additionally, KWPP is ranked #443 of 84,000 residential brokerages in the United States, according to the 2018 Swanapoel Real Trends Report and #35 in Keller Williams worldwide. Its operational footprint runs throughout the Baltimore and Washington DC Metropolitan Area, operating primarily in Washington DC, Prince George’s Maryland. To find out more about Emerick, go to https://www. thepowerisnow.com/emerick-a-peace/ . Sources https://www.redfin.com/state/Maryland/housing-market http://www.mdrealtor.org/Resources/Publications/MonthlyHousing-Statistics https://www.us.jll.com/en/trends-and-insights/research/officemarket-statistics-trends/maryland-suburbs https://www.neighborhoodscout.com/md https://www.baltimoresun.com/business/bs-prem-bzbaltimore-housing-market-signs-of-slowing-20211012z727eqpxjbestorvhpn63geana-story.html

By Dr. Karen Lewis

September Market Report

At a closer glance: SALES However, closed sales in Miami decreased by 3.6 percent year over year; September 2020 compared to September 2021. While closed sales fell, single-family homes paid for in cash rose significantly from last year—from 15.5 percent last year to 24.9 percent this September. A change that represents a 61.2 percent increase. WWW.THEPOWERISNOW.COM

Single-family homes might have seen a decrease in closed sales, but the same cannot be said for townhouses and condos. The number of closed sales jumped by 45.2 percent, with closed sales last September 1223 and 1790 this September. Townhouses and condos saw an increase this year in the number that was paid for in cash. 46.0 percent of townhouses and condos were paid for in cash compared to last year’s 39.0 percent. INVENTORY For most of last year and this year, housing inventory has been very tight—making it exceptionally very difficult to find a dream home. Compared to the previous year, September, Miami’s housing inventory for single-family homes almost halved this year. September 2020, Miami had 4,039 active listings; in September 2021, the active listings for single-family homes in Miami were 2,957.

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n September, the housing market in South Florida began to cool off, and as a result, homebuyers had a more comprehensive inventory selection, according to a Zillow report. As inventory increased, the market saw home prices and rent growth ease as well. The market that was previously a sellers’ market had a somewhat balance with homebuyers having more inventory, at lower prices, and ultimately more time to make offers.

It was the same for townhouses and condos, with a sharp 43.1 percent decrease in active listings. September last year, Miami had an active listing of condos and townhouses of 14,148; however, that dropped to 8,049 this September. MEDIAN TIME TO CONTRACT AND SALE The median time to contract for single-family homes was shorter this September, 18 days than last year’s September, 32 days. The drop from 32 to 18 represented a decrease of 43.8 percent. For Townhouses and condos, the median time to contract dropped by 41.7 percent this September; last year, the median time to contract was 60 days and 35 days this year. There was also a decrease in the median time to sale, where single-family homes were 84 days last year to 66 days this year. Conversely, townhouses had a median time to the sale of 100 days last September and 82 days this September. The reduction in both median time to contract and sales can be explained by the demand and supply dynamics where the demand for homes has been so high that homes have been spending less time on the market. MONTH’S SUPPLY Month’s supply for both townhouses and single-family homes dropped sharply this year. The housing market as a whole experienced heightened demand with very little supply to sate it. The month’s supply for single-family homes in September 2020 was 3.8 and dropped to 2.2 in September 2021—accounting for a 42.1 percent drop. For townhouses and condos, the month’s supply for last year September was 14 and decreased to 4.3 this September. The uncertainty brought by the Covid-19 pandemic and the wave of millennials entering the housing market caused the sharp shrinkage in inventory. BOTTOM-LINE Homes in September are selling at a slower rate, 58 l

with homes staying on the market for a longer time. Compared to August, the days on the market rose by 7.4 percent, the months’ supply of inventory fell by 11.9 percent, based on data from RE/MAX’s National Housing Report. The number of closed sales month over month fell by 14.3 percent, while active inventory decreased by 6.8 percent. On the other hand, the median sales price fell to $390,000. ABOUT ERIC FRAZIER: Eric Lawrence Frazier is President and CEO of the Power Is Now Inc. The Power Is Now is a multimedia company specializing in real estate and mortgage education for consumers and real estate professionals on various topics in real estate, lending, economics, and government policy since September 1, 2009. The financial and real estate information is distributed through BlogTalkRadio, iTunes, TuneIn, and other online radio platforms nationwide, as well as online TV and eMagazines. Connect with Eric Frazier DRE 01143484 | NMLS 461807 | Office: 800-401-8994 x 703 | Direct: 714-361-2105 and start your real estate investment journey or homeownership in safe hands. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media Work Cited https://www.miamirealtors.com/news/south-florida-market-stats/september2021/#1569530848291-b9a19666-aef7 https://southfloridaagentmagazine.com/2021/10/20/re-max-miami-housingmarket-takes-a-pause-in-september/

THE POWER IS NOW MAGAZINE | DECEMBER 2021

HOW TO PROTECT YOURSELF FROM SCAM ARTISTS FOLLOWING WILDFIRE DAMAGE TO MAKE SURE YOUR HOME INSPECTOR IS LEGITIMATE: • If a housing inspector comes by and claims to represent the Federal Emergency Management Administration (FEMA) or the Small Business Administration (SBA), ask to see the inspector’s identification badge, which all federal employees and contractors are required to carry. • Remember that FEMA and SBA staff will never ask to see your banking information or charge you for disaster assistance. Do not give out your personal information. • Know that FEMA housing inspectors will not hire specific contractors to fix your damage.

TO MAKE SURE YOUR CONTRACTOR IS LEGITIMATE: • Deal only with licensed contractors. Ask to see physical verification of the person’s license.

Unfortunately, natural disasters present opportunities for scammers to take advantage of people when they’re at their most vulnerable. If your house suffers damage from a wildfire, take the following steps to ensure anyone offering grant money or anyone hired to work on repairs is legitimate.

TO MAKE SURE YOU’RE NOT A VICTIM — OR PERPETRATOR — OF PRICE GOUGING: • Price gouging laws prohibit raising rental housing costs by more than 10 percent following the declaration of a state of emergency. Please note that price gouging is a complicated issue — for more details, visit the California Attorney General’s website at oag.ca.gov/consumers/ pricegougingduringdisasters. • You can check to see if a declaration of emergency is in effect by visiting gov.ca.gov. • If you feel you’re experiencing price gouging following a wildfire, you can file a complaint with the Attorney General’s office by calling 1-800-952-5225. You can also get a referral for a lawyer by contacting the State Bar at 866-442-2529 or visiting calbar.ca.gov.

• Check that the license is valid by calling the Contractor’s State License Board toll-free at 1-800-321-2752, or by visiting cslb.ca.gov. • Ask for references. • Get a written contract, and make sure it contains everything you’ve talked about in person. If it’s not in the contract, the contractor can’t be held accountable for making it happen. • Don’t pay in cash, and never pay for the entire project before the work is completed.

Sources: “Don’t Get Burned After a Disaster.” California Department of Insurance. January 2019. “Beware of Post-Wildfire Scams.” Federal Emergency Management Agency. December 14, 2018. “FAQs on Price Gouging.” State of California Department of Justice.

By Adriana Montes

What’s the point of mortgage points?

Mortgage points besides helping you negotiate a good price for your home, they can help you also help you get the best mortgage rates and for the experienced homebuyers, mortgage points will lower the amount of interest they pay. WHAT ARE MORTGAGE POINTS By now you know that mortgage points are a great way to lock in lower interest rate on the home purchase or even in refinancing. WWW.THEPOWERISNOW.COM

What you don’t know probably is that mortgage points are fees and as a borrower, you will pay the fees to the mortgage lender to trim the interest rate on the loan. This process is sometimes referred to as ‘buying down the rate’ where each point costs 1 percent of the mortgage amount. Simply put, one mortgage point on a $250,000 mortgage would cost $2,500. Each point typically lowers the rate by 0.25 percent therefore, one mortgage point would lower the mortgage rate of 4 percent to 3.75 percent for the life of the loan. However, it is good to understand that how much a point lowers the mortgage rate will depend on the lender, the type of the loan and the overall interest rate environment.

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here is no debate about it. Buying a home will be the most expensive single purchase you will probably make in your lifetime! As such, anything that you can do to reduce the cost of the mortgage might be worth discussing and therefore in this article, we are going to look at mortgage points, what they are and how they can help you get a good deal for your home purchase.

Borrowers in Florida interested in mortgage points can buy more than one point, and if that seems too much, mortgage points can be bought in fractions for instance, a borrower can buy half a point which amounts to $1,250 and lowers the mortgage rate by 0.125 percent. You pay for the discount points at closing and are listed on the loan estimate document. They are also listed on the closing disclosure which a borrower will receive before the closing of the loan. It is also worth noting that the mortgage points comes in two varieties; • The originations points and • The mortgage points. You already know what mortgage points are. Origination points are mostly used to compensate the loan officers and before the 2017 Tax Cuts and Jobs Act, origination points were not tax deductible, however, the mortgage points could be deducted on Schedule A. Moving forward, even though discount points are tax deductible, they are only limited to the first $750,000 of a loan. Generally, remember, the longer the repayment period, the more point’s help you save on interest over the life of the loan. So, are mortgage points right for you? Let’s look at a typical example. 62 l

ASSUMING A LOAN AMOUNT OF $200,000 No points

1 point

2 Points

Cost Per Point

$2,000

$4,000

APR*

4.5%

4.25%

Monthly Payment**

$1,013.37

$983.88

$954.83

Monthly Payment Savings

N/A

$29.49

$58.54

Break even (time to recover points costs)

N/A

68 months

Total Payment Savings on a 30-year loan

N/A

$10,616.40

$21,074.40

**Note: the APRs and the points here are illustrative and educational in nature. HOW DOES MORTGAGE DISCOUNT POINTS COMPARE WITH APR Buying discount points is prepaying the interest. APR on the other hand is a way to facilitate the comparison of loans among different rate and point combinations. APRs incorporates more than the interest rates, they incorporates points you pay and then any fees that the lender charges for providing the credit. SHOULD YOU PAY FOR DISCOUNT POINTS? Before answering this pressing question, we need to first understand the mortgage payment structure. Basically, there are two factors that weigh heavily when considering an option to pay for the mortgage points. These are; • The length of the time you expect to live on the house. • Your ability to pay for the mortgage points. When considering the length of time you expect to live on the home, the general rule is, the longer the period, the bigger the savings.

THE POWER IS NOW MAGAZINE | DECEMBER 2021

Just to illustrate, a $100,000 mortgage with an interest rate of 3 percent will have you paying $421 per month. Supposing you bought 3 mortgage points, the interest rate would be 2.75 percent and the monthly mortgage payments would be $382 per month. Simply put, purchasing 3 discount points will cost you $3,000 to save $39 per month. To breakeven, you will have to keep the house for at least 76 months. A 30 year loan lasts for 360 months which means in this case, purchasing the discount points might be a wise move to make, especially if you are planning to live on the new home for a long time. The opposite is true, purchasing discount points with no intention of staying on the home for a long time might not make any sense at all. If you have to, I would suggest that you purchased few discount points. There are numerous calculators online to help you determine the discount points you need pay based on the length of period you planning to stay on your new home. The other factor to consider is your ability to pay for the discount points. Considering that many people barely afford the down payment and or the closing costs, I doubt whether they can have any money left for discount points. On a $100,000 home, 3 discount points may be fairly affordable, but on a $500,000 home, the cost of three mortgage points would be $15,000 which is quite high. ARE MORTGAGE POINTS WORTH IT? There are many people who believe that the money used to pay for mortgage points could be channeled elsewhere where there is a good return on investment, say in stock trading. However, for a first time homebuyer, the fear of not getting a mortgage they can afford outweighs all other potential investments. WWW.THEPOWERISNOW.COM

BOTTOM LINE… Plan carefully! Buying a home is a major financial decision as such, plan carefully. Look at the cost and whether it will be worth it. It is also important that you consider the amount of monthly payments that you will be comfortable paying. Also, take time shopping around. Do not settle for the first option you get. There are so many banks to choose from and if you would like to know your options, talk to Eric L. Frazier, MBA, a mortgage professional with over 30 years’ experience in the field. You can reach Eric at 800-261-1634 ext. 703. ABOUT ADRIANA MONTES Adriana Montes is a real estate broker/owner and director of divisions of REO Listings, Acquisitions, Rentals, Flips at Florida Dreams Realty Group. A dedicated professional with a long tenure in the default sector that includes over 20 years of experience servicing and selling over 1500 homes and over $300 million in volume within the last 10 years. To find out more about Adriana, go to; https://www.thepowerisnow.com/adrianamontes/ Sources https://bettermoneyhabits.bankofamerica.com/en/home-ownership/buyingmortgage-points-lower-rate https://www.investopedia.com/mortgage/mortgage-rates/points/ https://www.bankrate.com/mortgages/mortgage-points/ https://www.rocketmortgage.com/learn/mortgage-points

THE POWER IS NOW

MAGAZINE

WEST COAST EDITION

Tips to Help You Move Easily from the City to Any Suburb in Arizona

By Yvonne McFadden

However, it can be overwhelming, especially if you haven’t relocated before or you haven’t lived in any of the suburbs before. In case you are considering moving from the city to any suburb in Arizona, you need to be prepared to adapt to your new life and surroundings. Every city has its own unique strengths, weaknesses, and way of life. These are some of the things you need to know before moving. Tips to Help You Move from the City to Arizona Like we mentioned earlier, before moving to Arizona, you need to familiarize yourself with the location. This means finding out what the weather looks like, its economy, transportation, etc. Let’s start with the weather.

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WEATHER The weather in Arizona is incredibly nice, but it’s not for everyone. Interestingly, the state boasts of more than 300 days of sunshine every year, and that’s why it’s called the ‘Valley of the Sun’. There’s so much sunshine in Arizona that one of the biggest metros, Phoenix, gets more days of sunshine every year than any other metros in the entire United States. Technically, you can say that Arizona has seasons because the sunshine stays almost all year round. There are those chilly winter and spring months, but they don’t last long at all. They are also milder compared to other states in the United States. ECONOMY Aside from the incredible weather, the Great Grand Canyon, and other beautiful sceneries, the state’s economy is solid. The low cost of living makes the state a great place to live, especially for families and young professionals looking to kickstart their career. Retirees could also leverage the economy and low cost of living to settle down. l

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oving to a new place is pretty difficult, but it’s easier when you familiarize yourself with the location. Arizona is a place of history, but it can also be fun and we can’t deny the fact that the city is also a beautiful one. Take a look at the Grand Canyon and the amazing landscapes. There’s so much to look up to in Arizona, and it’s a place you can definitely call home.

Apart from location, one thing that makes Arizona economically viable is its openness to technological innovations and companies. Compared to other states, Arizona has established itself as one state that embraces technology startups and companies that can drive the state’s GDP. For instance, the state was one of the first to open its city to ride-sharing platforms like Uber. Arizona governor Doug Ducey, has always hammered on forming key partnerships and building stronger relationships with universities and tech companies to maintain the state’s innovation goal. Earlier this year, Uber revealed that it will be relocating its headquarters for its self-driving car division to Arizona. Like Uber, several other new businesses are flocking to Arizona. Apple has already announced a $2B expansion that will end up being one of the largest investments in the company’s history. Google has also followed in the footsteps of Uber by launching a self-driving vehicle program in Arizona. The tech giant once heaped praises on the state for encouraging research and development. Lucid Motors is another company that is considering setting up its electric car manufacturing plant in Arizona. According to the electric car company, the manufacturing operation will add almost 2,000 new jobs and $700M in capital investment to the state by 2022. If you’re an entrepreneur interested in technology gigs, Arizona is the perfect place for you. However, it doesn’t mean you can get other nontech jobs there as well if you aren’t tech-savvy. COST OF LIVING Surprisingly, Arizona has a reasonable low cost of living in addition to the job opportunity available there. Although housing in Arizona is slightly

above the national average, you’ll find affordable apartments there, especially in the suburbs. You could get a two bedroom apartment for $1000 per month, which is great considering the rapid rising cost of houses. Arizona is a balance of luxury and affordability. THE ENVIRONMENT Not just the suburbs; the entire Arizona is a place filled with rattlesnakes. There are over 150 rattlesnake bites reported every year in the state. This place might sound a little unsafe for your children and family, but if you are careful enough, you should be safe. CONCLUSION Relocating to Arizona is great. The weather and the economy are standouts, and with plenty of job opportunities there and low cost of living, you should be able to survive pretty well whether alone or with your family. However, you need to be at high alert and watchful of the steps you take when walking. As earlier mentioned, there are rattlesnakes, and you could be stepping on one unknowingly. If you need help getting a comfortable home at an affordable price in Arizona, don’t hesitate to contact one of our experienced The Power Is Now agents. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800401-8994 Website: www.thepowerisnow.com.

References https://www.google.com/amp/s/www.lifestorage.com/blog/moving/moving-to-phoenix/amp/ https://www.getbellhops.com/blog/moving-to-arizona/

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THE POWER IS NOW MAGAZINE | DECEMBER 2021

When it comes to housing,

little things shouldn’t make a difference.

If you have children or are pregnant and a landlord refuses to rent to you, requires a higher security deposit, limits the use of facilities, or says you can only live in certain areas of a housing complex ... that could be discrimination. And housing discrimination because of familial status is against the law. If you believe you may be a victim of housing discrimination, contact HUD or your local Fair Housing Center:

Visit www.hud.gov/fairhousing or call the HUD Hotline 1-800-669-9777 (voice) 1-800-927-9275 (TTY)

Your Choice. Your Right. Your Home. A public service message from the U.S. Department of Housing and Urban Development in partnership with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. For more information, visit www.hud.gov/fairhousing.

By Peggie Simmons

Are You Thinking of Remodelling in Arizona? Consider the Effect it May Have on Your Insurance

But, what does it mean to be underinsured? Underinsured means that your insurance policy only covers a portion of your losses in a claim. Underinsured homeowners have insufficient coverage, leaving them with bigger expenses if they file a claim. Imagine filing for a claim because of a disaster, only to discover that you don’t have enough coverage. You won’t be able to recover the costs of losing your home to such a disaster WWW.THEPOWERISNOW.COM

simply because you didn’t inform your insurance company of the new house upgrades. You may have to pay tens of thousands out of your pockets to cover the additional costs. That’s pretty bad. This is what happens when you are underinsured. REMODELLING YOUR HOME IN ARIZONA AND WHAT YOU SHOULD KNOW Once in a while, several house owners remodel their homes to match modern styles. Some add a pool to their homes, others add an office space for their businesses, while others upgrade their kitchen or bathroom. Remodelling increases the value of your home, in turn increasing the cost of your home insurance. This happens regardless of the type of renovation you are carrying out. If you proceed with adding a pool to your home, you should know that the liability risk will increase, ultimately increasing your home insurance rates. With this pool added, you should consult with the insurance company immediately and have them look at your insurance options. The company may likely recommend a higher liability coverage than the standard one of even an umbrella insurance to cover costs of getting injured in by the pool or other worse case scenarios. l

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emodelling your home is a fantastic way to add more value to your home, but do you know that it can affect your insurance? A lot of homeowners don’t know this, and end up having an underinsured home. According to CoreLogic’s Residential Cost Handbook, about 64% of homeowners don’t have enough insurance and their homes are underinsured by an average of 27%.

Same goes for adding an office space. This will increase your homeowners insurance rate, so it’s essential that you purchase an additional insurance policy. It should be enough to cover the pieces of equipment or machines used if you have any. If your existing coverage isn’t enough, you might not be able to replace your machines if they get damaged. Interestingly, not all remodelling increases your home insurance rate. If you are making some changes that keep your home safer, like updating your electrical systems and plumbing network, your rates would be used after your provider has evaluated your home. If you are also replacing your roof or upgrading your HVAC system, you could see your insurance rates reduced. The insurer considers these upgrades as safety measures, and could reduce your premium up to a certain amount depending on the roof’s age. If you are lucky, you can get bigger discounts if you live in hurricane-hit areas. INCREASING YOUR HOME INSURANCE AFTER RENOVATION: IS IT NECESSARY? Increasing your home insurance depends on the type of renovation and the coverage you have in place. Upgrades like upgrading the roof and plumbing systems may not require you to increase your coverage. To be sure about how much coverage you need, it’s best to contact your insurance company. The insurance company will use evaluation tools to determine how much coverage you need. If the upgrades increased the evaluation, you may need to increase the coverage. Without increasing the coverage, should any catastrophe happen, any upgrade made will not be covered. Make sure you inform your insurance company when you have done any type of home remodelling. CONCLUSION If you are thinking of upgrading your home by adding extra space or improving the amenities, consider how 72 l

they will impact your insurance policy. Are the upgrades compatible with your instance rate? It’s vital that you talk to your insurance provider during the planning stage to see if you’ll be increasing your coverage. Remodelling can have a tremendous effect on your insurance. Before you indulge in such a step, it’s necessary to contact a real estate advisor to guide you through with the best way to remodel your home while protecting your insurance. Contact Eric L. Frazier, the CEO of The Power Is Now Media. ABOUT ERIC L. FRAZIER Eric L. Frazier MBA is a licensed Mortage Advisor NMLS 461807 with First Bank. He is the founder and CEO of The Power Is Now Media, a multimedia company that helps investors create wealth through real estate. Eric L. Frazier is vastly experienced and has been in the real estate industry for decades. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com.

References https://www.corelogic.com/products/residential-cost-handbook.aspx https://www.summitinsuranceaz.com/news/2017/03/how-remodeling-yourhome-affects-your-insurance?mv=f

THE POWER IS NOW MAGAZINE | DECEMBER 2021

By Kamesha Keesee

It’s Important to First ‘Test Drive’ Your Next Home It’s essential to know a little about your next home, but how do you know that? The traditional way is to ask a realtor about the property - where it was built, how many owners it has previously had, etc. But, that is still not enough to decide where you will live next. You have to experience what it is to really live there; you have to tour the neighborhood frequently to see if the home is viable.

HOW TO TEST DRIVE YOUR NEXT HOME PICTURE YOURSELF LIVING THERE You just know that some things are yours WWW.THEPOWERISNOW.COM

once your eyes set upon them. It’s no different from owning a home. How do you feel when you picture yourself living in that home or neighborhood? If you feel calm and joyous it’s an indication that you love the home. If you have some reservations, you could ask your Realtor to find out the best possible way to go about it. ASK REALTORS Realtors are always in a good position to answer all your questions and enquiries regarding your next home. Realtors have the resources l

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here are several ways to know if a home is viable, but one thing is certain; some of the essential aspects of living in a home never show up during a simple walkthrough. You have to spend more time around, ask neighbors and passersby who live there to find out about other details. This is what is called ‘test driving your new home.’

to examine the proximity of a property, the viability of the location, and the value. Your Realtor will inform you if the home has a resale value. You can book viewings with your Realtor and real estate agents, as they will give you pointers as to why you should or shouldn’t purchase the home. Of course, most of them will say that such a property is in the ideal location. At this juncture, you shouldn’t only accept such a statement with a grain of salt, but you should take the next step discussed below. CARRY OUT A SURVEY YOURSELF What better way to test drive your next home than verifying the home as well as its location yourself? Your next home should check all the boxes. It’s essential to know that most homebuyers have millennial preferences, so they will likely desire a home with many amenities and a good location. Most people want to live in a neighborhood that’s easily accessible and has a good appeal. Great landscape, plenty of trees, amenities, are some of the things a homebuyer looks for in a neighborhood. There are chances that you would want the same thing as a homebuyer. That is why it’s essential that

you test drive your next home. ASK RESIDENTS Residents and passersby are also in a good position to answer all your enquiries being that they already know so much about the neighborhood or location you intend to buy the property better than you. These people will help you to familiarize with the location by touring with you.

sincerely, then you should have no problem seeking your next home. Need help test driving your new home? Contact Kameesha Keesee, one of your real estate agents. Keesse is experienced and an expert in the U.S. housing industry. Keesee can help you get your next dream home. CONCLUSION

IMPORTANT FACTORS FOR BUYING YOUR NEXT HOME Almost everyone has ‘purchasing a home’ in his/ her bucket list, whether it’s a modernized or a suburban home. Everyone wants to find that home that feels like it was specifically made for them, but searching for it can be complex. So, when looking for that dream home, consider if the home meets your needs. It should answer the following questions. • Does it have the features you’ve always wanted? • Is it in the right location? • How spacious is the house and lot? • What is the age of the property? • Is it the style you desire? If you can answer these questions carefully and

Everyone wants to buy that ideal home, but it isn’t easy choosing the one that meets 90% of the buyer’s needs. That is why it’s important to test drive the home. You can do this in several ways, from asking a realtor to researching and to asking residents. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www. thepowerisnow.com.

References https://www.mymove.com/buying-selling/guides/most-important-factors-for-buying-your-dream-home/ https://www.rocketmortgage.com/learn/where-should-i-live https://www.texasrealestate.com/members/posts/test-drive-your-next-home/

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THE POWER IS NOW MAGAZINE | DECEMBER 2021

Do you know

Peppermint Ridge? We provide a community of loving homes and empowering support services for individuals with intellectual and developmental disabilities.

support and encourage our residents to live their

lives and fulfill their dreams by fully embracing their indvidual abilities and interests. With 24-hour specialized care and staffing, we provide comfortable, secure homes and recognize that everyone feels a sense of belonging when they have familiar places in which to spend time with family and friends.

There

is a true sense of family at Peppermint Ridge. Of the 94 adults who

live at The Ridge, 38 have lived here for more than 20 years, with 10 of those calling The Ridge home for 40 years or more. Residents have the opportunity to flex their muscles of independence while developing rich lives of their own away from their loved ones. About 30% of our residents have no family, so other Ridgers and our staff have become their family.

Many

caring companies, organizations and individuals in

the community enjoy getting to know The Ridge by helping on small projects, hosting fundraisers, lending a hand at events, volunteering in our office, and assisting residents in activities such as arts and crafts, pool days, horseback riding, music and piano lessons and exercise classes.

825 Magnolia Ave • Corona CA 92879 • 951.273.7320 www.PeppermintRidge.org • Tax ID: 95-2409851

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By Ruby Frazier

Want to Buy a Vacation Home? Here Are Five Things You Need to Consider

is it ideal to acquire one? What are your reasons for acquiring a vacation home? Before you cash in on that attractive property near the beach, there are a few points you need to consider deeply.

FIVE THINGS TO CONSIDER WHEN BUYING VACATION HOME ANALYZE THE PROS AND CONS here are many reasons why people buy Like any significant financial decision, it would be a vacation home. One of them is to save ideal to know why you are cashing in on a vacation rental costs, which could amount to tens home. Even if you have made your choice, it’s still essential that you x-ray the real intentions again of thousands of dollars depending on how for buying a vacation home, the benefits and the frequent you go. If you are in the pondering stage of buying a vacation home, you are not drawbacks before committing. alone. The National Association of Realtors reported that the vacation home sales in the One common benefit of buying a vacation home is first quarter of 2021 rose 57.2% over 2020. to save costs on rents. What you could be paying You may ask how this is possible, considering in mortgages annually could be comparable to your that the Covid-19 was still active. monthly rent. If you are the type that spends two to three months on vacations, check out the costs of renting vs the cost of buying, and you will realize that Founder and President of Suburban Jungle having your own place is better than renting. Alison Bemstein, revealed that people are pushing for the second home market in a bid to maintain a good work from home Another benefit of buying a vacation home is that relationship. Their primary residence is it could serve as passive income. You could earn already their office, so having a vacation home money by renting it out if you aren’t going to stay is more like spending some time away. in the vacation home all-year long. Technically,

While it isn’t difficult to buy a vacation home, considering the multitude of options available, WWW.THEPOWERISNOW.COM

your vacation home has become your investment, and know that it will increase in value, especially if situated in popular areas near the beach.

With your own vacation home, you can enjoy longer vacations. It’s unimaginable spending as high as $300 per night at a hotel. If you are considering spending six days with your family, the costs would run into thousands of dollars. Your vacation home is yours. You can decide to stay for as long as possible and you could work from home if you work remotely. One major drawback of buying a vacation home is that it’s expensive. It isn’t just about buying the property; there are maintenance costs that you have to pay, property taxes, insurance, utilities, etc. Just like your primary residence, you’ll have to maintain and keep it secure. The house will be empty most of the time, so you have to spend money to install security cameras, ensure that pipes don’t freeze in the winter, etc. What’s the point of paying that gargantuan yearly mortgage if you stay in the vacation home a few days in the entire year? TAKE NOTE OF EXTRA COSTS It’s possible that you might be paying two mortgages simultaneously, but do you know that other smaller expenses could spring up? These hidden local costs could come in homeowners association fees, compulsory infrastructure projects, etc. Renting out your vacation home can also cost you. Some guests don’t care about the damage they cause or the equipment they ruin, and you might realize this when they have checked out. This will prompt you to hire a property manager, which would cost extra money. Add this to the costs of maintenance and you could be paying a lot of money for a property you don’t spend often inside. CONSIDER THE DOWN PAYMENT Securing a mortgage for your second residence is difficult for some lenders, unless you are paying cash. You could find some lenders that require between 25% - 50% down payment for second or third residences. Ensure to check out your home financing options before you opt for buying a vacation home.

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THINK ABOUT TAXES Homeowners leverage the mortgage interest deduction on a vacation home to lower taxable income. If you are filing jointly as a married couple, you can deduct the full interest on mortgages. Tax breaks are offered to those that rent out their vacation properties less than 14 days in a year. If you mix renting and vacationing, things can get a little complicated. Discuss your taxes with a tax professional before making any buying move. ASK YOURSELF “IS THIS A GOOD TIME TO PURCHASE A VACATION HOME?” Many people didn’t envision the coming of the pandemic. It affected the market heavily, skyrocketing prices of houses, especially singlefamily homes. No one knows what would come next as far as we are concerned. This is why you should be wary of the time you intend to purchase a property, especially vacation homes. The location is also important. A viable location will maximize your rental income if you intend renting it out. Still, you need to think it through if it’s worth buying a vacation home at that particular period. CONCLUSION There are various factors that you need to consider when buying a vacation home. If you can stomach the running costs and tax payments, you can purchase a vacation home. Many second home owners try to eke out the next month’s mortgage payment from their rental income, and most times, it backfires. So, consider your options carefully to avoid being on the losing end. To help you in the best possible way, contact Ruby Frazier, a real estate agent of The Power Is Now. Frazier can help you secure a vacation home in the right location at the ideal price. References https://www.google.com/amp/s/www.millionacres.com/amp/real-estate-investing/ rental-properties/real-estate-101-heres-what-you-need-know-you-buyvacation-home/ https://realestate.usnews.com/real-estate/articles/things-to-consider-beforebuying-a-vacation-home

THE POWER IS NOW MAGAZINE | DECEMBER 2021

HOME SELLERS

WHAT HOME SELLERS SHOULD KNOW ABOUT TAX REFORM Here’s what home sellers need to know about the Tax Cuts and Jobs Act that was signed into law December 2017.

MOVING EXPENSES

• Moving expenses are no longer tax deductible, except for members of the Armed Forces.

HOME PRICE IMPACT

• California’s median home price is projected to increase 3.2 percent in 2018, which is good news for home sellers.

• Properties priced below $500,000 may see an approximate 4 percent increase in price. • Properties valued at $750,000 may see a price increase of 2.4 percent, while properties at the higher end could inch up 1.5 percent. • Properties priced between $1 million

and $1.5 million could still see some appreciation overall, but will likely be at a growth rate of less than 1.5 percent.

HOME SALES IMPACT • Taking into account the impact of tax reform, home sales in California are expected to increase 0.3 percent in 2018. • Demand for homes priced $600,000 and below will remain strong, due to limited housing inventory. • Homes priced $750,000 - $1 million could experience a decline in sales of up to 0.9 percent.

HOUSING SUPPLY IMPACT • The supply of available homes for sale also will be slightly impacted, as homeowners may delay trading up/down to their next home. • Overall, the California housing market is expected to see a decline of 0.3 percent in active listings in 2018.

Disclaimer: This is not intended to provide legal or tax advice. Application of provisions to particular tax situations need to be discussed with an accountant, CPA, or tax attorney.

By Demarco and Marisa Fletcher To every seller and real estate agent, marketing a property to sell it quickly is top priority. To that effect, they employ all tactics to make such a property appealing to the eyes of the buyer. One of such tactics is staging the home.

decorating, but the seller doesn’t make it so obvious that the property is dressed like that for marketing purposes. Staging is expensive because it involves all aspects of the home. However, several sellers are wondering if staging a home and decorating are the same thing. Are they? While they sound similar, they have different meanings. Home staging makes your home look more appealing to buyers, while decorating is more about your personal style. Decorating doesn’t usually lead to selling the home, but staging does.

Hey Sellers, Staging Your Home is not the Same as STAGING A HOME VS. DECORATING Decorating It’s always essential to make a good first impression

taging a home is all about preparing the property for sale on the real estate market in such a way that you make

it have a lasting impression on buyers. The purpose for doing this is to sell the property

when it comes to selling a home, but it’s by no means an opportunity to showcase your decorating skills. Staging is the opposite of decorating a home. With staging, you are removing clutter, decorations, and every other thing that could distract buyers from thinking that they are not welcomed.

quickly for the highest possible price. Staging draws some of the concepts of interior WWW.THEPOWERISNOW.COM

When you move into a home, one of the first things l

you would do (what everyone would probably do) is to make it suit your lifestyle and reflect your taste. Maybe you don’t need a hook in the kitchen or a shelf in the sitting room. You may need to shift positions to accommodate your lifestyle. This is what decoration is. Selling a home requires visualization. This is what staging provides. Buyers need to see themselves in the house physically and mentally. Without putting some work into staging, it would be difficult to sell your home for top dollar. Contrary to popular opinions, staging isn’t easy to do. Like decorating, you need an expert who understands what a buyer sees when they tour the home to execute the process. IMPORTANCE OF STAGING We already stated that staging lets buyers imagine themselves in the home. Besides that, staging hides flaws and shows off the good features of the home, creates a vibe, and overall, makes the home look better in the eye. Buyers don’t want to see any issue upon moving. For every fault in the home, the buyer will deduct its cost from the offering price, and there are so many, they pass on from buying. When dealing with something that involves selling a home, you don’t want to settle for a lower price or have your property listed for weeks or even months. Buyers love what they see, 84 l

and if they don’t visualize themselves in the home, they will become uninterested. They are not just looking for a structure to live inside - they are looking for a way to improve their lifestyle. Staging does this and can generate more money for the seller. According to a report from the National Association of Realtors, 25% of buyers’ agents and 22% of sellers’ agents agree that staging a home increases the offer price by 1% - 5%. Another report revealed that more than 80% of buyers’ agents say staging makes it more straightforward for buyers to visualize a property as their future home and decreases the amount of time a property spends on the market. This goes to show that so many things are involved when it comes to selling a property. So sellers, staging a home is different from decorating. If you want to sell your home faster and get good money off it, you need to properly stage the home. However, this requires skill to do. One of our agents can put you through on how to stage your home properly for the best price. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderateincome and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www. thepowerisnow.com. References https://kikiinteriors.com/2012/05/home-decor-vs-home-staging/ https://www.investopedia.com/articles/mortgages-real-estate/08/ staging-home.asp

THE POWER IS NOW MAGAZINE | DECEMBER 2021

SOUNDS LIKE DISCRIMINATION.

What matters is how you look on paper – not how you sound over the phone. Judging you by your race or color instead of your qualifications is discrimination. It’s unfair, it’s painful... and it’s against the law. The best way to stop housing discrimination is to report it. If you believe you may be a victim of housing discrimination, contact HUD or your local Fair Housing Center:

Visit www.hud.gov/fairhousing or call the HUD Hotline 1-800-669-9777 (voice) 1-800-927-9275 (TTY)

n Hope, o ti a r e p O f o O E C Program w e N s e c n u o n An ncial to Support Fina Literacy for All

JOHN BRYANT W

understanding of concepts including saving, investing, and debt, leading to an overall sense of well-being and self-trust. In lay man’s terms, it is how well you handle your money.

So what is financial literacy? According to Experian.com, financial literacy is the confident

And because of the lack of financial literacy plaguing the nation, CEO and of Operation Hope, John Bryant, launched Financial Literacy for All, a nationwide initiative seeking to entrench financial literacy into the American culture.

e have all heard the word financial literacy being thrown around, but how many people know what it means? Worldwide, only a third of adults understand financial concepts. In America, 4 in 7 Americans are financially illiterate. And more jarring is that only 24 percent of millennials understand essential financial topics.

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THE POWER IS NOW MAGAZINE | DECEMBER 2021

CE PICTURE SOUR

The Financial Literacy for All initiative is a partnership between CEO John Bryant and major corporate leaders that include the CEOs of Walmart; Bob Chapek, Walt Disney Company; Brian Moynihan, Bank of America; Rosalind Brewer, Walgreens; Larry Fink, BlackRock; Ed Bastian, Delta Air Lines; Roger Goodell, Commissioner of NFL; Adam Silver, Commissioner of NBA; Sal Khan, Founder and CEO of Khan Academy and Tony Ressler, Executive Chair of Ares Management and Principal Owner of Atlanta Hawks. The initiative will span over ten years, where John Bryant hopes that through a series of programs and awareness programs will “reshape, rethink, and reimagine the way we think about our relationship with money.” Unlike other financial literacy programs with a target audience, the Financial Literacy for All initiative plans to work with a broader audience, disregarding their demographic.

“We will begin introducing American, primarily working adults and students from middle school to university, to the core competencies of financial education and reinforcing the foundational WWW.THEPOWERISNOW.COM

skills of budgeting, saving, and credit management,” John Bryant said in a press release in May. According to John Bryant, this is just the beginning; he hopes to expand his partnership portfolio, build a coalition of ”like-minded individuals and organizations from every walk of life, social economic level, and political persuasion to help promote the cause of financial literacy for all.” So why is this initiative important to John Bryant? “There is evidence that this is a critical need. Financial literacy is a civil rights issue of the 21st century that is as important as voting,” said Bryant. “We are currently in the largest economic depression since we’ve seen during the depression in the 1920s. People don’t know where to turn. I want to make this a new civil rights movement for this generation. I’m building upon civil rights with what I call silver rights.” Bryant especially feels there is a disconnect where Black and disenfranchised Americans lack resources and financial literacy and are preyed upon. Bryant referring to the racial discrimination that Black and Brown people face when applying for loans. Half of African

estate information is distributed through BlogTalkRadio, iTunes, TuneIn, and other online radio platforms nationwide, as well as online TV and eMagazines. Connect with Eric Frazier DRE 01143484 | NMLS 461807 | Office: 800-401-8994 x 703 | Direct: 714-361-2105 and start your real estate investment journey or homeownership in safe hands.

Americans have a credit score of less than 620. Because of that, they are locked out of free enterprises, according to Bryant—something that Bryant hopes to address through his initiative.

“With my new initiative, we are going into banks to coach up the community, putting financial coaches in the branches in the poor community,” says Bryant. And to really help communities, especially Black communities, to make better investments in stocks and bonds, job creation, education, business ownership, generation wealth, and homeownership, Bryant has made the financial and coaching services free. “We don’t have a business plan for our race. We have got reach our people. I’m building an economic infrastructure for Black America. We have to take 88 l

change their mindset, then it changes the culture.” According to Bryant, the initiative will make an impact if financial literacy is a conversation that is had even at the dinner table—something that he learned from watching his parents handle money. And though his father impacted his money habits, it is his mother that taught him about money. By the time he was ten, he had his own business, boosting his selfesteem, personal confidence, and belief in what to do. ABOUT ERIC FRAZIER: Eric Lawrence Frazier is President and CEO of the Power Is Now Inc. The Power Is Now is a multimedia company specializing in real estate and mortgage education for consumers and real estate professionals on various topics in real estate, lending, economics, and government policy since September 1, 2009. The financial and real

Work Cited: https://www.experian.com/blogs/ask-experian/whatis-financial-literacy-and-why-is-it-important/ https://www.theatlantavoice.com/articles/operationhope-ceo-announces-new-movement-to-supportfinancial-literacy-for-all/ https://www.businesswire.com/news/ home/20210520005594/en/Top-BusinessLeaders-Launch-Movement-to-Embed-FinancialLiteracy-Into-American-Culture https://johnhopebryant.com/2021/05/financialliteracy-saved-my-life-it-can-save-others-too.html

THE POWER IS NOW MAGAZINE | DECEMBER 2021

By Cornelius Jackson

Maintenance Tips Every First-Time Home Buyer Should Know

The fact is regular maintenance is a crucial part of retaining the property’s value and aestheticism. Maintaining a home regularly means you don’t have to deal with costly repairs later on. As the adage goes, a stitch in time saves nine. To that, I will provide ten maintenance tips that you need to know to protect your property.

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TEN MAINTENANCE TIPS TO HELP FIRSTTIME HOMEOWNERS ● CARRY OUT A THOROUGH INSPECTION This is more like something you need to do before purchasing the home. The best way to avoid incurring future maintenance costs is to be proactive. Ensure you inspect the home thoroughly to uncover any issue that may lurk around. You should confirm the condition of all the systems, roofs, and the structure to avoid surprises. ● SCHEDULE AN INSPECTION OCCASIONALLY Most homeowners wait until they are ready to sell their home to have an inspection of their home. You don’t have to this, because in the end, you will be surprised at the quantity of damages that could be costly to repair. Get a home inspection every two to three years. Hire a professional with an eye for details to carry out a routine check. l

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urchasing a home is a feeling unlike any other. After filling out endless paperwork and dealing with the homebuying process, you finally get to move into your new home. It’s the dream of everyone to have a house of their own, and not just restricted to the Gen Y or Millennials. However, buying a home is just part of puzzle that you have solved. The next puzzle is figuring it out how to maintain it. Unfortunately, first-time home buyers don’t may not know how to maintain their properties.

● CHANGE THE LOCKS This is one of the first few things to do when you move into your new home. Who knows how many people have access to your home? Even if you don’t change them, have them rekeyed at least. This is not being paranoid; it’s just trying to play safe. ● TRIM TREE BRANCHES This may not be one of the first few things to do when you move in, but it’s a paramount maintenance tip. If your home is surrounded by trees, check if the tree branches are touching the roof or any part of the house. If so, trim them. Excessive, overlying tree branches can house rodents and insects. ● REPLACE THE HVAC FILTERS Overtime, the HVAC filters could be dirty and even become a breeding ground for mold and mildew. You should definitely replace them periodically and clean out the broilers. Besides replacing the HVAC filters, you do some electrical, plumbing, and heating maintenance. If not done, the result could be costly. While checking out the HVAC filters, check the smoke detectors, carbon monoxide drtevtores, and the temperature on the thermostats. ● DON’T IGNORE PLUMBING AND ROOFING Pipes and drains can get clogged and build up deposits. Also, there may be a few broken pipes that you might not know. You should keep an eye on this all the time to avoid spending more than required during maintenance. If you don’t know anything about plumbing, hire a professional or a reputable plumbing company to do some routine inspection. Your roof is the first thing that protects the interior. If compromised, a lot of things inside the house can go wrong, starting from the electrical equipment to your HVAC systems and to your furnishings. Keep your roof watertight and ensure that everywhere is properly ealed.

● CAULK LEAK-PRONE EDGES Bathroom sinks, kitchen countertops, bathtubs, and the likes are prone to air and water leaks. These can lead to mold growth and other health hazards. Constantly caulking them will prevent expensive repairs in the end and health issues. ● CLEAN UP DUST Dust build up in all homes, regardless of style or location. It happens in places we don’t frequently check and can shorten the lifespan of electrical appliances and HVAC systems. Make it a duty to always check and remove specks of dust to save money in the long term and keep you healthy. ● FLUSH YOUR WATER HEATER You should do this at least once a year. This prolongs the lifespan of the heater by preventing the buildup of sediments that could clog the heater. ● DON’T DEFER MAINTENANCE Deferring maintenance can catch up to you. When you defer, you are literally endangering the life of the equipment and your health too. Enroll for programs that will check your HVAC systems, plumbing systems, electrical, etc. Doing this will benefit your home and prevent expensive repairs. CONCLUSION There are tons of other home maintenance tips that I couldn’t mention in this post, but you should adhere to the ones mentioned here. Purchasing a home is a massive investment. Figuring out how to maintain it and keep it healthy can be overwhelming. To help you with your maintenance tasks, keep a reminder of them and organize the tasks accordingly. With these tips, you can keep your home healthier and newer.

References https://www.google.com/amp/s/www.forbes.com/sites/forbesrealestatecoun cil/2020/07/15/12-essential-home-maintenance-tips-for-new-homeowners/ amp/ https://www.homelight.com/blog/buyer-home-maintenance-tips/

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THE POWER IS NOW MAGAZINE | DECEMBER 2021

DISCRIMINATION IS RARELY THIS OBVIOUS, BUT IT’S JUST AS REAL. AND JUST AS ILLEGAL. If the landlord gives you the runaround or says:

“We don’t take kids.” “The apartment you asked about on the phone has been rented.” “We only take people who speak English clearly.” “We don’t take teenagers.” “The ad was wrong – the rent is really $50 more.” “I can’t assign you a handicap parking space.”

THAT COULD BE HOUSING DISCRIMINATION. The only way to stop housing discrimination is to report it, so we can investigate it. Visit

www.hud.gov/fairhousing or call HUD’s Housing Discrimination Hotline 1-800-669-9777 (voice) 1-800-927-9275 (TTY) The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, family status or disability.

By Jenny Gonzalez

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How to Make Your Offer Stand Out in a Hot Market

he housing market may have slowed down in some areas, but inventory remains low in many places. These places have led to several bidding wars amongst prospective home buyers. That’s the nature of the current housing market. Due to the competition amongst buyers, home prices remain high. With this competition going on, each buyer employed different tactics to outwit the other in bid to win their dream home. Home buyers who are not prepared for this multiple-offer scenario lose out, which can be painful. If you are worried about losing your dream home in these bidding wars, I will explain some ways you can make your offer stand out. WWW.THEPOWERISNOW.COM

HOW TO MAKE YOUR OFFER STAND OUT • Show Proof That You Can Close the Home If you want the seller to consider you serious, the first thing you need to do is to show that you can afford the home. This proof could be a mortgage pre-approval letter if you intend to pay through a mortgage lender. If you are paying cash, you need to submit proof of funds alongside your offer. • Put Down an Earnest Money Deposit A good housing deal will attract multiple offers. If you haven’t gone through the buying process before, you’ll be amazed by what you people do to win a home. Sometimes, you may not be able to compete with the home buyers, especially if their offers are all cash. At this juncture, you should put down an earnest deposit. An earnest deposit is the money you submit with your l

offer to indicate that you are interested in buying the house. This deposit depends on the nature of the market. In a lower-cost market, it can range between $500 - $1000, while it can be as high as $10,000 in the higher-cost markets. If you want to clinch that house, consider making an earnest deposit that is above the market. Eventually, it will be applied towards your down payment. • Close Quickly Getting a pre-approved letter from a mortgage lender is great, but your lender may require up to 30 days to close. While making an offer to the seller, I advise that you include the shortest realistic closing time frame. Even if it’s some days apart, you are still good to go. This way, you are in a better position of clinching the house. • Your First Offer Should be the Strongest If your dream home is located in an area where most inventory sells within a few days of being listed, then there’s not enough time to negotiate with the seller. If the home is priced $300,000, don’t make a lesser offer. Else, the seller will move over to the next serious buyer. You’ll need to make a stronger offer to show that you are ready to purchase the home. That is making an offer that’s 2% - 3% above the asking price. • Get Rid of Appraisals Waiving financial contingency is not usually a good move, but getting rid of appraisals can boost the chances of closing that dream home. This means that you will be agreeing to pay for the difference if the home’s value doesn’t meet the offer price. CONCLUSION The right offer can make a difference. It doesn’t necessarily need to be making an offer above the asking price. There are other ways you can clinch a home aside from that, as explained in this post. With inventory and mortgage rates historically low, competition for homes is heating up. This is why you need to be smart with your offer on the table. A wellconstructed offer can make you stand out and give you the best chance of buying your home. 96 l

If you need help selling your property, you can contact one of our TPIN agents Jenny Gonzalez. Gonzalez knows the in and out of the real estate market and can help you with selling your property in least amount of time. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-4018994 Website: www.thepowerisnow.com.

References https://www.google.com/url?sa=t&source=web&rct=j&url=https://www. rockethomes.com/blog/home-buying/how-to-get-offer-accepted-insellers-market&ved=2ahUKEwiGzuye_ZH0AhUBNOwKHYUwA68QFnoEC AQQBQ&usg=AOvVaw2jvqRpPViLB67y4EcmYt1T https://www.google.com/amp/s/www.millionacres.com/amp/real-estateinvesting/articles/7-ways-make-your-offer-stand-out/

THE POWER IS NOW MAGAZINE | DECEMBER 2021

By Danon Burnside

5 Nevada Programs homeowners should know about

urchasing a home is not a walk in the park. A buyer must secure a mortgage and save for a down payment as well as monthly mortgage payments. Are you looking to buy a home in Nevada? Worry not because there are statewide and local services available to you. The programs’ principal purpose is to provide tools to help purchasers through the home-buying process, from securing a low-interest, fixedrate mortgage to covering a portion of the down payment and closing costs. Although the Nevada homeownership programs are primarily aimed at first-time homebuyers, they are open to anybody who requires assistance with their housing needs. Every state has a housing authority that provides services. They are as follows: Nevada Housing Division (NHD) — The NHD’s initiatives are designed to assist first-time homebuyers, repeat homebuyers, military people and veterans, and teachers in all parts of the state. The Nevada Rural Housing Authority, which works alongside the NHD and offers a variety of services, including a Mortgage Credit Certificate, WWW.THEPOWERISNOW.COM

is another option. For starters, this program offers 30-year fixed-rate mortgages at rates below market. Repeat homebuyers across the state are also eligible because there is no first-time buyer restriction. To be eligible for the program, buyers must not own property at the time of closing, must meet income limits set by the state, the purchase price of the residence must not exceed $548,250, regardless of where it is purchased in Nevada, and the buyer must be a Nevada resident. Homebuyers must have a credit score of at least 640 and meet all regular underwriting criteria. The Federal Housing Administration (FHA) – this program is the finest option for firsttime house buyers with low credit ratings. For those with credit scores of 580 and above, the FHA allows for down payments of as little as 3.5 percent. The FHA also insures loans for borrowers with credit scores as low as 500, but it will need a 10% down payment. FHA loan insurance is required for the life of the loan and cannot be canceled. l

Conventional mortgage — This program allows first-time home purchasers to obtain a conventional house loan with as little as a 3% down payment if the loan meets Fannie Mae and Freddie Mac guidelines. Mortgage insurance is not mandatory for buyers who put down at least 20%. The minimum credit score required for this loan is 620 however, a buyer with a credit score of roughly 740 will receive the best interest rates. Veterans Affairs (VA)- These mortgages are offered to service members, veterans, and surviving spouses and are guaranteed by the United States Department of Veterans Affairs. Qualified purchasers enjoy benefits such as no credit score requirement, no down payment, and no mortgage insurance. However, buyers might pay the VA funding fee. United States Department of Agriculture(USDA) loans - This is a no-moneydown mortgage available to qualifying buyers in rural and suburban areas. The USDA Rural Development Guaranteed Housing Loan Program issues the loans. There are income restrictions that differ by region. Applicants with credit scores of 640 or higher have their applications processed more quickly. Those with lower scores are subject to more restrictive underwriting requirements. Becoming a homeowner in Nevada wouldn’t be any easier with such programs. With the considerations that it’s a stunning state with endless sunshine, a booming tourism industry, and amongst the states with lower taxes, homeownership would be an ideal investment for you. Get in touch with Danon Burnside, a professional realtor and The Power Is Now Media Inc. VIP agent-based in Nevada. Alternatively, contact the CEO Eric L. Frazier for your best homeownership program. ABOUT DANON BURNSIDE Danon is a native of San Bernardino who deeply appreciates how the beauty and tranquility 100 l

attract people from around the world, and his nuanced knowledge ensures that expectations are consistently exceeded for buyers and sellers alike. Danon has been licensed since 2008. In addition to 12 years of retail sales experience, he has four years of residential property management experience as well. He got his associate of science degree in business administration from Argosy University in 2016. He is also the city manager for San Bernardino. He is a member of CAR, NAR, and CVAR. In November 2017, Danon joined The Power Is Now, a company that specializes in all aspects of residential real estate in San Bernardino and Riverside Counties. He brings his uncompromising ethics, integrity, and outstanding negotiation skills to the highly competitive real estate industry, and his level of organization and professionalism are unmatched ABOUT THE POWER IS NOW MEDIA INC. The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage in various thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc can help make your homeownership dream a reality. Go to www. neverrentagain.com and get started today Eric Lawrence Frazier MBA, Vice President and Mortgage Advisor First Bank NMLS 461807. President and CEO The Power Is Now Media Inc. www.thepowerisnow.com

References https://www.newhomesource.com/learn/first-time-homebuyer-nevada/ https://www.nerdwallet.com/article/mortgages/nevada-first-time-home-buyerprograms

THE POWER IS NOW MAGAZINE | DECEMBER 2021

By JT Burnside

The Difference Between Being Pre-Qualified and Pre-Approved

ny buyer or seller engaging in the real estate investment cannot miss encountering these two terms. They are common in mortgage transactions and are both main steps in the mortgage application process. They are both types of mortgage approval and refer to the steps taken by the lender to prove whether a client can afford a mortgage. The terms may sound so similar and, that’s why it is vital to know what each term means and the differences between them. On a light note, Pre-qualification is the first step and, it is where the buyer can know the amount of loan they can qualify. The second step is pre-approval which follows a conditional commitment by a lender to grant the buyer the mortgage. Pre-qualification relies on the client submitted data while the pre-approval is verified client data. Let’s get deeper into these below. MORTGAGE PRE-QUALIFICATION This process varies by different lenders. Usually, the lender requests the buyer to submit all their money income, assets, credit, and debit details. This information helps the lender to estimate the amount of money that buyer can borrow. This process can even be done online or over the phone since it’s a quick process that takes about three

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days to get a pre-qualification letter. Although the pre-qualification letter doesn’t carry much weight as it’s based on only information the client submits hence just an estimate as there hasn’t been much investigation into the client to come up with a good amount. But it still helps the client to have an estimate of what they can afford to buy. The client can still show the pre-qualification letter to real estate agents to show that they’ve been working with a mortgage lender and get introduced to different options. MORTGAGE PRE-APPROVAL The verification in this step is much more intense. It requires the buyer to provide documentation on their financial history and income. The lender then checks their assets, employment, and financial stability, not forgetting the credit report. The buyer also has to fill out an official mortgage application form to get pre-approved. If the lender is satisfied with the buyer’s financial records, they’ll offer them a pre-approval letter that shows the amount the lender is willing to loan, the type of mortgage, and its terms. The pre-approval offer is not guaranteed. However, it gives the buyer leverage in a competitive market as it indicates serious buyers. Getting pre-qualified and pre-approved are essential and crucial steps for you as a prospective home buyer. It’s because it gives an estimate of the kind of house you can afford. In this warmed-up market, sellers tend to prefer negotiating with buyers who are pre-approved than those pre-qualified. It is with no doubt that Pre-approval also speeds up the home buying process giving one an edge in the market. Do you feel ready to start your homeownership journey? Make the right choice by visiting The Power Is Now Media Inc. Contact JT Burnside a VIP agent or the CEO Eric Lawrence Frazier MBA DRE 01143484 today. 104 l

ABOUT JT BURNSIDE JT Burnside is an active Real Estate Agent in Southern California since 2006.He was born in the Inland Empire and this has allowed him gain the specialized 13 years of experience needed in the area. His key to successful interaction with clients has been listening to their wants and needs and giving them information that ultimately helps them make an educated decision pertaining to their transaction. ABOUT THE POWER IS NOW MEDIA INC. The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage in various thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help make your home ownership dream a reality. Go to www. neverrentagain.com and get started today. Eric Lawrence Frazier MBA, Vice President and Mortgage Advisor of First Bank, NMLS 461807. President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com

References https://www.nerdwallet.com/article/mortgages/pre-qualified-vs-preapproved https://www.rocketmortgage.com/learn/preapproval-vs-prequalification https://www.investopedia.com/articles/basics/07/prequalified-approved.asp

THE POWER IS NOW MAGAZINE | DECEMBER 2021

If you’re headed for foreclosure, we can help. Today there are alternatives for lots of homeowners in many difficult mortgage situations. A HUD-approved housing counselor may be able to help direct you with FREE and trustworthy advice.

There are ways to avoid foreclosure. Get started today. Visit:

www.hud.gov/fairhousing or call 1-888-995-HOPE A public service message from the U.S. Department of Housing and Urban Development in partnership with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, family status or disability. For more information, visit www.hud.gov/fairhousing.

By Denise Matthis

Are You Ready to Become a Landlord?

hen considered as a better means to make money or even a chance to quit your day job, owning a rental property can be very enticing. However, being a landlord is tough, comes with a lot of duties, and there’s no assurance that you’ll make money right away. To become a landlord, you must first understand the time and financial requirements, as well as know how to deal with various sorts of tenants and be willing to accept all of the hazards that come with being a landlord. According to CBS News, there are a variety of ”things to consider before becoming a landlord.” They entail asking questions such; DO YOU HAVE ENOUGH CAPITAL REQUIREMENTS? Renting a house has a certain amount of financial obligation. You’ll need a 25% down payment on a mortgage as well as closing charges. You’ll also need money for improvements, repairs, and maintenance. This is critical for increasing the value of your rental property. The rents should be able to pay this. Aside from that, you’ll WWW.THEPOWERISNOW.COM

have to pay your monthly mortgage, taxes, insurance, and utility bills. You may require real estate professional assistance, such as property managers, at times, which will involve charges. Are you patient enough and ready to assume landlord’s risk- Having a house is a liability. ”Depending on where you buy a rental property, it could take up to five years for the rent you receive to match or exceed your expenses,” said l

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Chris Cooper, a certified financial adviser and landlord in San Diego. Also, there will be months when a tenant is unable to pay rent for various reasons. In severe instances, such as pandemicrelated eviction moratoriums, you may be subject to government restrictions that prevent you from evicting someone who doesn’t pay their rent. For these reasons, You need to have emergency cash reserves said Mary Geong, a certified public accountant and rental properties owner in California. Sometimes you may be sued by a tenant if you don’t fix something property as a limited liability soon. That’s why you’ll want to have liability insurance to protect your investment and possibly set up your rental corporation to protect your personal assets from any potential lawsuits. HAVE YOU HAD THE TIME AND RESOURCES TO MANAGE A RENTAL PROPERTY? Being a landlord entails becoming a problemsolver, a mediator, and, ultimately, the person responsible for everything that occurs on or around the property. Tenants may contact the city’s building code enforcement department at any time, since there may be conflicts or even notices from the city’s building code enforcement department. You must also discover and screen tenants, as well as display properties to potential tenants, collect deposits and rents, and create and enforce regulations. As a landlord, you must devote your time to all of these activities. You might also engage a property manager to assist you with some chores, but this will add to the expense. ARE YOU PREPARED FOR THE COMPLEXITIES AND LAWS SURROUNDING TAXES? Being a landlord necessitates a thorough understanding of the law. There are potentially significant tax advantages to investing in a rental property, but they come with significant complexity. There are other laws governing tenants and landlords that must be followed. 108 l

ARE YOU PREPARED FOR THE COMPLEXITIES AND LAWS SURROUNDING TAXES? Being a landlord necessitates a thorough understanding of the law. There are potentially significant tax advantages to investing in a rental property, but they come with significant complexity. There are other laws governing tenants and landlords that must be followed. It all starts with answering such questions. With this you can easily know if rental property is the right kind of investment for you . Rental property might not work for everyone With But if you do your research, educate yourself, and prepare and have qualified advocates , real estate can be an excellent profits. Visiting www.thepowerisnow. com is the best solution.Get in touch with Denise Matthis, a VIP agent of the Power Is Now Media Inc. and become a successful landlord. Contact CEO, Eric Lawrence Frazier MBA DRE 01143484, for guidance. ABOUT DENISE MATTHIS Although not a true “San Diego Native”, Denise E Matthis has been a resident of San Diego since the age of 2. Denise is the Owner/Broker of DEM Financial Services & Real Estate, a boutique brokerage dedicated to promoting community pride through homeownership and building & preserving generational wealth with real estate. As a buyer’s representative, she is passionate and works with first-time home buyers and veterans educating them on the home buying process and works with investors. As a seller’s representative, she specializes in seniors, probate, and distressed property sales. To learn more about Denise, go to; https://thepowerisnow. com/denise-matthis/

References https://www.cnn.com/2021/08/26/success/how-to-be-a-landlord-rentalproperty-feseries/index.html https://weleaseusa.com/how-to-become-a-landlord-in-california/

THE POWER IS NOW MAGAZINE | DECEMBER 2021

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By Robert Langston

aving a place to call your own can be exhilarating, but the joy of it can take another turn once something goes wrong, such as when a repair needs to be done. Of course, you will want to leave everything to the professionals to handle, but won’t it be cost-efficient if you knew how to handle one or two repairs? Professional plumbers and electricians charge arm and leg to fix that pipe and those burnt cables. You have got to figure out how to fix these issues without hiring someone to do it. Several people believe that when it comes to repair, it’s best to allow the professionals to handle it. True, WWW.THEPOWERISNOW.COM

but what if the issue is a minor one? Trust me, these professionals will still charge you the same amount as if the issue was a big one. You don’t have to call someone to always check the leak from below the bedroom window. Below are six skills you should know as a homeowner. SIX HANDYMAN/WOMAN SKILLS YOU SHOULD HAVE With a little patience, it’s possible to take on any maintenance issue yourself. Let’s get to those essential skills you should have. 1. Changing Air Filters Air filters can get clogged and reduce the quality of air in the home. As a homeowner, you need to learn how to change these. For new constructions, consider changing the filters every three weeks due to the initial drywall dust. If you have allergies, consider changing it every two months. l

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6 Skills Every Homeowner Should Know

2. Shutting Off Your Water Valve Water is one of the leading causes of damages in the home, and it’s all due to the negligence of the homeowner. When there’s a water leak, the first thing to do is to shut off the water valve. Unfortunately, some homeowners don’t know what a water valve is let alone know how to shut it off. You should ask your friend or someone with plumbing experience the position of the main water valve in the home. 3. Turning Off Your Gas If you smell gas or suspect a gas leak, your first point of duty is to turn off the shut-off valve, which is usually located outside at the meter. Then, you can call the gas company for further evaluation. 4. Fixing a Running Toilet Running toilets can be annoying in a variety of ways. First, it’s a waste of water, which will add to your bill. Second, it might flood your home and destroy your pieces of furniture and appliances. Common problems include the flapper or the chain. Run a quick check and fix the flapper. 5. Cleaning Clogged Gutters Like running toilets, clogged gutters are also annoying. They can cause water to flow onto the wood trim and your house, which can result in a rot. You should clean the gutters twice a year if you have any hanging trees by suiting up and using a small garden shovel to clean the muck. 112 l

6. Caulking Caulking is simple, but a lot of people still don’t know how to do it. Caulking seals leaks from the kitchen sinks and countertops. First, select the right caulk. It must be waterproof and flexible. Next, remove the old caulk with a utility knife. Cut the nozzle of the tube to your desired size and apply it on the leaking area. Ensure the surface is clean and dry. These are basic skills you need to learn as a homeowner. Just because you haven’t picked a screwdriver or a hammer doesn’t mean you are not brainy enough to learn these skills. There are other ones, such as painting, tiling, electric, and carpentry. It pays to learn these skills and could help you in times when you will need to rely on yourself. About The Power Is Now Media The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com.

References https://www.biggerpockets.com/blog/handyman-skills https://www.google.com/amp/s/www.huffpost.com/entry/10-essential-skillsevery_b_10833424/amp

THE POWER IS NOW MAGAZINE | DECEMBER 2021

WHAT FIRST-TIME BUYERS SHOULD KNOW ABOUT TAX REFORM Here’s what first-time buyers need to know about the Tax Cuts

MOVING EXPENSES • Only members of the Armed Forces may deduct moving expenses.

HOUSING MARKET IMPACT

and Jobs Act that was signed into law December 2017.

• Homes priced $500,000 and below will only be slightly impacted.

MORTGAGE INTEREST DEDUCTION

• C.A.R. estimates that 60 percent of first-time buyers will purchase a property priced below $500,000, and 80 percent will purchase a home

• The new limit on deductible mortgage debt is $750,000, down from the previous $1 million. There are certain situations which may allow a home purchase to qualify for the $1 million, even if the home closes after Jan. 1, 2018. Talk to a tax professional to learn more. • Interest paid on home equity loans is only deductible if the proceeds are used to substantially improve the residence. • Interest remains deductible on second homes, but is subject to the $1 million/ $750,000 limits.

DEDUCTION FOR STATE AND LOCAL TAXES (SALT) • Homeowners who itemize their tax returns can claim up to $10,000 total for state and local property taxes and income or sales taxes. This $10,000 limit applies for both single and married filers and is not indexed for inflation.

priced below $750,000, so most first-time buyers will not feel the effect that tax reform exerts on home prices. • The supply of available homes for sale also will be slightly impacted, as homeowners delay trading up/down to their next home. Overall, the California housing market is expected to see a decline of 0.3 percent in active listings in 2018 due to tax reform.

Disclaimer: This is not intended to provide legal or tax advice. Application of provisions to particular tax situations need to be discussed with an accountant, CPA, or tax attorney.

By Kate Nash

or a while now, the United States citizens have contended with the booming housing market. The sellers’ market raises the wealth of already established homeowners, while high prices keep homeownership out of reach for many Americans. As a result of the housing boom, a new demographic of home renters is emerging: people who could previously afford a home but are now being priced out and left with no option other than to become renters. The market situation has seen most people sell their current homes to purchase their dream homes. However, some find these homes a bit expensive to own, pushing them into temporarily renting as they wait for home prices to cool off. The home rental trend is associated with the high cost of housing, which forces many people to rent WWW.THEPOWERISNOW.COM

what they can’t afford. Although home prices are sky-high, homes are quickly selling. Demand and pricing have recently been boosted the epidemic. Nevertheless, like so many other things, this was already happening before the pandemic. During the Great Recession, when the housing bubble burst and millions of Americans lost their houses to foreclosure, investors rushed in to buy them at a bargain. Single-family rentals allow people to live in a home without having to pay the high expense of purchasing one. “There is a supply-and-demand imbalance and, a rental market is an option for individuals who can’t afford to buy homes. Said Kaufman, a real estate specialist. As per Harvard’s Joint Center for Housing Studies, monthly housing expenses are considerably l

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Be Careful You Might Become a Renter Again!

cheaper for single-family rentals than for home purchases. The average income of families living in those rentals is also lower. Rental prices are rising, but not at the same rate as property prices. In February, home prices increased by 17 percent over the previous year, but single-family rent increased by only 4 percent. Naturally, the higher housing prices of purchased properties bring with them the equity of those residences, which maybe be sold later. One of several indicators pointing to the demise of personal ownership is the development of single-family rentals. People are renting rather than owning anything from music to farm equipment, thanks in part to digitization, giving them less influence over what happens to it. It is better to buy a home now than wait till later. As cheap as renting a home may seem, buying a home is way much the best option in most ways. The market situation is not promising to shift sooner meaning, you might remain a renter in the next two years may be in the name of ‘waiting for a perfect time to buy. An ideal time to buy is not necessarily determined by the market situation but, rather, by how well prepared you are. Avoid falling victim to renting again since it is not worth it. Despite the high prices, you can still own your home from as little as you have. Wondering how? Go to The Power Is Now Media Inc. where homeownership dreams always come to reality. Kate Nash is a renowned TPIN Media Inc. VIP agent ready to take you through the journey that will save you the setbacks of renting. Alternatively, Eric Lawrence Frazier, the CEO is a reliable real estate professional for you.

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ABOUT KATE NASH Kate Nash started in real estate at the age of 16, following in the footsteps of her mom. She joined Team Financial and worked her way through the company as a loan processor, underwriter, notary, and eventually became the broker of the firm. With over 20 years of experience in the Los Angeles and Orange Counties, she offers unparalleled expertise to her clients. Having lived in both L. A. and Orange County, she is uniquely qualified to understand the struggles of home-ownership within the Southern California real estate market, as an agent, a homeowner, and an investor. Her role as an exceptional Realtor is to guide you through the buying and selling process, making sure you understand every step of the process. She is completely committed to fulfilling the needs of her clients with the highest level of professionalism, expertise, and service. ABOUT THE POWER IS NOW MEDIA INC. The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage in various thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help make your homeownership dream a reality. Go to www.neverrentagain.com and get started today. Eric Lawrence Frazier MBA, Vice President and Mortgage Advisor First Bank, NMLS 461807. President and CEO The Power Is Now Media Inc. www.thepowerisnow.com References https://www.vox.com/recode/22407667/home-sales-boom-rent-housing-single-family-rental https://fortune.com/2021/11/01/2022-home-prices-will-keep-rising-at-or-near-double-digitspredicts-the-analyst-who-called-the-current-housing-boom/

THE POWER IS NOW MAGAZINE | DECEMBER 2021

IF YOU’RE STRUGGLING TO CARRY YOUR MORTGAGE, WE CAN HELP FORECLOSURE IS NOT A FOREGONE CONCLUSION The weight of a mortgage can overwhelm even the strongest person. Now you can get FREE help. Today, there are alternatives for lots of homeowners in many difficult mortgage situations. A HUD-approved housing counselor may be able to help you. Find out what might help ease your burden at:

STOP STRUGGLING. GET FREE HELP. A public service message from the U.S. Department of Housing and Urban Development in partnership with the National Fair Housing Alliance.

By Candace Thrower

The real estate market in the United States has been hectic, and San Diego is no exception. The city has consistently ranked first among the most thriving real estate markets. The market has recently exhibited indications of calming, bringing relief to investors. Well, I can’t say whether the market will continue to rise or revert to pre-pandemic levels following its recent stabilization. Here’s a glimpse of San Diego in the fourth quarter: WWW.THEPOWERISNOW.COM

ousing Stocks- the housing inventory has dropped dramatically with detached homes’ inventory falling to 42.6 percent and 60.1 percent for attached homes. The month’s supply for a detached home has decreased by 47.1 percent, while attached homes’ months supply has dropped by 66.7 percent. The days in the market for detached homes are at a 19.2 percent decrease and 19.2 percent decrease in days in the market for attached homes. The average time properties are on the market is 1.7 months, indicating that demand for property in San Diego is still outpacing supply. San Diego is unquestionably a seller’s market, with no signs of a change soon. In Q4, inventories are likely to rise as more homeowners list their houses and new listings arrive. Home sales- Detached homes have seen a 16.1 percent drop in closed sales, while on the other hand, attached homes have recorded a 0.7 percent increase. Pending sales have dropped by 12.6 percent for detached homes and 10.6 percent for attached homes. l

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San Diego Market Update for Q4,2021

Housing Prices-Because of its high median property prices, San Diego is ranked amongst the top five most expensive states in California. Detached homes saw a 15.9 percent increase in median sales price to $860,000, while attached homes saw a 16.5 percent increase to $565,000, respectively. Typically, the listing price was $ 957,000, up 19.6 percent from the previous year. One bedroom stands at $437K and two bedrooms at $600K.As mortgage rates and inventory are inversely linked to home prices, low mortgage rates and inventory have fueled the high prices. Despite the high prices, buyers have a lot of buying power because of the low mortgage rates. Mortgage Rates-Homebuyers in San Diego can choose from several different sorts of mortgage rates. With a 30 year fixed mortgage at 3.06 percent, a 15 year fixed mortgage at 2.42 percent, and a 5/1 ARM at 2.78 percent, the average mortgage rate in Q4 is 3 percent. The Mortgage Bankers Association predicts that average mortgage rates will rise to 3.2 percent by the end of the year, implying that prices would likely fall. Appreciation for your residence- In 2021, the value of a home in San Diego has climbed by 22.5 percent. San Diego has had an appreciation rate of 82.7 percent over the last ten years, or 6.22 percent per year, putting it in the top 10 percent of real estate appreciation nationwide. The market may be leveling off, but it will continue to thrive in the coming months. Housing supply continues to outstrip demand, while mortgage rates remain at historically low levels. For a potential buyer or seller in San Diego, I believe this is an ideal time. All you need is the right home-buying companion. The best partner you can get is The Power Is Now Media Inc. More details can be found at www.thepowerisnow.com. Contact our professional VIP agent Candace Thrower today for more. 120 l

ABOUT CANDACE THROWER Candace is a versatile, results-oriented, real estate sales professional with extensive experience in foreclosure prevention. She has demonstrated customer service excellence, Armed with solid communication and interpersonal skills to establish and maintain rapport with clients. She is proficient in Microsoft Office tools and Equator Short Sale Processing System. Her core competencies include Property Sales, Client Analysis, Prospecting, Communicating as 3rd Party with Banks, Market Research, Negotiation / Mediation. ABOUT THE POWER IS NOW MEDIA INC. The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage in various thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help make your homeownership dream a reality. Go to www. neverrentagain.com and get started today. Eric Lawrence Frazier MBA, Vice President and Mortgage Advisor First Bank, NMLS 461807. President and CEO The Power Is Now Media Inc. www.thepowerisnow.com

References https://www.noradarealestate.com/blog/san-diego-real-estate-market/ https://www.luxurysocalrealty.com/blog/san-diego-real-estate-market/

THE POWER IS NOW MAGAZINE | DECEMBER 2021

YOU DESERVE TO LIVE SAFE FROM SEXUAL HARASSMENT.

Sexual harassment by a landlord or anyone related to your housing violates the Fair Housing Act. If you receive unwelcome sexual advances or are threatened with eviction because you refuse to provide sexual favors, you may file a fair housing complaint. To file a complaint, go to

hud.gov/fairhousing or call 1-800-669-9777 If you fear for your safety, call 911.

FAIR HOUSING IS YOUR RIGHT. USE IT. A public service message from the U.S. Department of Housing and Urban Development in cooperation with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. For more information, visit www.hud.gov/fairhousing.

By Briana Frazier

What Form Do You Use For That: Understanding Real Estate Transaction Forms

he documents involved in the buying and selling of a house are cumbersome, and can leave you overwhelmed. It is essential that you understand the documents required to avoid complications with the law.

Sometimes, negotiations can get complicated, so it’s advisable you hire an attorney to review all forms before signing them.

Real estate transaction forms come in different types. These forms are used in a real estate sale to confirm the legality of sale of a property as well as buyer’s consent. Each transaction calls for a different form, so how do you know which form is needed in such a situation?

Exclusive Listing

Typically, a real estate agent is responsible for ensuring that all forms are executed properly. In the United States, states have several laws that regulate real estate sale transactions. WWW.THEPOWERISNOW.COM

TYPES OF REAL ESTATE TRANSACTION FORMS Before a property is listed, a real estate agent requires the seller to fill out and sign an Exclusive Right to Sell Contract. This document states that the seller will pay a specified commission to the agent after the home is sold. This form will also state that the seller will use only the named agent to sell the property. Sellers’ Disclosure Real estate laws require sellers to complete a l

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disclosure form also known as Seller’s Disclosure and Condition of Property Addendum. This form shows the current condition of the property, whether the HVAC systems and other parts of the home are faulty. With this form, the buyer becomes aware of the state of the property. Lead-Based Paint Lead-based paint inspection is usually carried out on homes built before 1978. The seller of this type of property must fill out a Lead-Based Paint Disclosure Addendum. The form discloses if the property utilized lead-based paint or not. Multiple-Listing Service This is another type of form in the United States that sellers are required to fill out. MLS forms detail the description and location of the property to be enlisted for sale. The form enables the real estate agent to list the property accurately. Purchase Agreement This is an agreement contract between a buyer and a seller. This agreement is usually proposed by the buyer and subject to acceptance by the seller. These forms are necessary to complete the sale transaction. Some of these forms are not straightforward, so we advise that you carry an attorney along. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www. thepowerisnow.com. References https://homeguides.sfgate.com/forms-real-estate-sales-1606.html

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THE POWER IS NOW MAGAZINE | DECEMBER 2021

By Adrian Bates

What’s Title Insurance? What’s there to Know About Title Insurance?

nlike other types of insurance, which protect against potential future events, title insurance safeguards a real estate property’s past events. It safeguards both the mortgage lender and the homebuyer from title difficulties that arise during or after the property ownership transfer following the title search. Coverage for title insurance starts when the policy is purchased and continues forever into the past, covering both known and undiscovered irregularities in the documented history of ownership. THE SIGNIFICANCE OF TITLE INSURANCE The purchase of title insurance from a lender is a requirement of the mortgage procedure. However, as a homeowner, it’s often a smart idea to purchase title insurance. In a variety of situations, title insurance can reimburse you for damages or legal fees. It is a safeguard against; WWW.THEPOWERISNOW.COM

• Liens and easements on the previously unreported land • Transfers of ownership rights in the property that have been forged • Unintentional errors in document recording or filing • Any additional title problems that existed before your policy’s start date • Ownership disputes, such as an unknown heir PROCESS OF HOW IT WORKS An abstractor, also known as a title agency, does a title search on behalf of the buyer by reviewing public records and legal documents to identify any concerns with the home’s title. This includes unpaid debts from past owners, as well as unpaid homeowners association fees, taxes, and heir claims. The title agency attempts to remedy these difficulties before providing a quote for a title l

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insurance policy; nevertheless, if there are too many, the firm may deny providing coverage. Once the title is clear, the property ownership is transferred to the buyer. Finally, the buyer is responsible for the lender’s title insurance. TYPES OF TITLE INSURANCE Lenders title insurance- protects a buyer’s lender from claims and liabilities that may arise as a result of your property mortgage. Owners are required to purchase on their behalf by lenders. This is included in the closing costs for the homeowner. Owner’s title insurance -protects homeowners from any legal complications that may occur in the future. It is an optional fee that is paid by the property buyer or seller. ”An owner’s title insurance policy protects your house, which is likely to be the largest single investment you make in your life,” explains Marissa Boyle, owner of Millennial Title Partners in Charlotte, North Carolina. ”This coverage protects your property rights for as long as you own it for a one-time cost.” However, title insurance is not mandatory in private or cash transactions. The seller’s warranty of title ensures that the home buyer has complete ownership of the property and that there are no outstanding claims or liens against it. If there are issues, the buyer has the option of pursuing legal action against the seller. HOW MUCH DOES TITLE INSURANCE COST? It differs from other types of insurance in that it is a one-time payment made after the escrow rather than a monthly or yearly payment. The premium is typically between 0.50 and 1% of the home’s value. The most essential factor in the cost of both lender and optional homeowner policies is location because each state holds title insurers to various standards. In most cases, mandatory lender’s title insurance costs between $500 and $1,500, depending on how much money you’re borrowing on your house mortgage whereas, optional homeowner’s title insurance costs between $700 and $2,000, depending 128 l

on how much money you’re borrowing on your home mortgage. The cost of title insurance can be increased by larger loan amounts, smaller down payments, and lower credit ratings. While skipping homeowner’s title insurance can save you money, the policy never expires and can protect you from problems that arise long after you sell the house and move on. A lender’s title insurance policy can be purchased from any title company of your choice. You are not obligated to use the company recommended to you by your lender or real estate agent. Shop around for a company with better offers, best coverages, or even lower costs. Just like the home contingencies, title insurance should be an essential part of any real estate investor. It is the best way to have peace of mind in your homeownership journey with complete awareness that your investment is protected from the past, present, and future title uncertainties. There are many title insurance companies in California and, you deserve the best. Head on to The Power Is Now Media Inc. and find out your best company choice. Contact Adriana Bates a VIP agent or, Eric Lawrence Frazier for your overall home investment safeguarding tips. ABOUT ADRIAN BATES Adrian Bates graduated from Cal State University with her B.A. in Psychology (Business Management minor) in 1980. The former aerospace contract negotiator became a real estate sales agent in 1985 and then a broker in 1990. In April 1995, property sales across America were on a serious downturn, yet a young and determined Adrian Bates opened A-1 Realty in Los Angeles, CA. With her fortitude and divine help from God above, her team two grew into a team of eleven agents by November 1996. To find out more about Adrian, go to https:// thepowerisnow.com/adrian-bates-2/ References https://www.ucop.edu/loan-programs/resources/consumer-information/titleinsurance-in-california.html https://www.bankrate.com/mortgages/what-is-title-insurance/ http://www.firstam.com/ownership/videos/what-is-title-insurance https://www.ucop.edu/loan-programs/resources/consumer-information/titleinsurance-in-california.html

THE POWER IS NOW MAGAZINE | DECEMBER 2021

ALL COUNTY DOCUMENT SERVICES OFFERING VIRTUAL PARALEGAL SERVICE Low Cost Quality Legal Assistance Payment Arrangements Available

Corona CA Legal Document Preparation Professional Paralegal Services without the high cost of attorney fees. We offer Virtual Paralegal Services to honor the COVID-19 stay-at-home, so no need to come into the office, we do everything online and utilize the courts efiling system.

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By Success Money

Yes, You May be Experienced in Selling Homes, But Don’t Quit on Your Agent Yet

Yes, you may be experienced selling homes and have racked up savings worth hundreds of thousands of dollars from sales, but do you have the expertise to go through all the legal requirements that come with selling? With this, the legal representative of the buyer may discourage the client from making an offer. This is why you need a real estate agent. I will take you through several reasons you still WWW.THEPOWERISNOW.COM

need a real estate agent or a realtor in the current housing market. REASONS YOU SHOULDN’T QUIT ON YOUR AGENT Gone are the days when you could sell a home without being asked about certain details, such as the regulatory requirements. No thanks to real estate scams, clients have realized that buying a home from For Sale by Owner (FSBO) is risky. Selling houses is becoming more technical and legally bounded, which an FSBO might not be experts in. In totality, the risks outweigh the benefits. SO, WHY SHOULD YOU CHOOSE A REAL ESTATE AGENT OVER FSBO TO SELL YOUR HOME? Agents Avoid Emotional Sales The fact is selling a home can put you through stress, and you are likely to make a mistake when l

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elling home yourself may seem like the real deal, considering the tens of thousands of dollars you will be saving on real estate agent’s commission. A typical real estate agent’s commission ranges between 5% - 6%, so selling a property worth $300,000 through an agent will require you to pay between $15,000 - $18,000 in commission. Given the circumstance, you may decide to act as your own agent.

emotions get caught up. An agent makes you less likely to make a mistake, such as overpricing your home, refusing to make a counter offer because you are offended, or accepting to sell for the cheap due to a deadline.

You can list your home on popular sites, such as Zillow and Redfin, but it isn’t enough. If you don’t have a large network of agents, how do you intend selling? A smaller pool of buyers lowers your chances of getting cash for your property.

Agents follow up the process without exhibiting a sense of desperation. This is their job, and they are so good at it. When an FSBO seller repeatedly checks, the buyer gets the signal that the seller might accept their low offer.

A good real estate agent has contact information and a network of people that can spread the word about your property. They have the resources to market your home after listing it on real estate sites.

Also, you might have to deal with the rejection every time a buyer reveals that they aren’t interested in buying anymore without an agent. It can be upsetting to hear negative comments about a property that you want to sell. An agent can stomach all that and put some positivity on the negative feedback. It’s more difficult for sellers to put their emotions in check when their property isn’t selling, but they can digest all that if they have an agent by their side. The agent can even explain better why the property isn’t attracting the right buyers.

LEGAL PAPERWORK

TIME CONSTRAINTS Time is always of the essence. An FSBO may not have the time to negotiate with clients every now and then. Can you rush home from your business or work whenever a potential buyer wants to have a glance at your home? In the end, you may not have the energy to be bustling around to market your home or meet up with buyers. Real estate is a round-the-clock job. You may neither have time nor the energy to market and show buyers your home. An agent ticks all the boxes. They have all the time in the world and energy to move around and meet clients. AGENTS HAVE LARGE NETWORKS The probable reason your home isn’t getting qualified and enough buyers is because you don’t have a large network to spread the word about the availability of your home for sale. This could be the case regardless of your experience. 132 l

Like I said, a lot of legal documents are involved in the buying of a home, and it needs to be expertly conducted. One of the most essential paperwork is the seller’s disclosure. A seller’s disclosure reveals any fact that affects the value of a property. A seller can be held liable for fraud or breach of contract if they don’t disclose this. Unless you are an attorney, your agent will probably know more about disclosures than you do. The buyer could sue you if he/she finds any problem with the property. Agents have an error and omission insurance, so a buyer may not need to sue the seller even if they find out a fault with the property. CONCLUSION A real estate agent probably knows more than you do in all aspects of real estate transactions, particularly if it involves legal paperwork. As a seller, you definitely need them. Yes, you may be experienced selling homes, but don’t quit on your agent. If you are having issues selling your property, don’t too worry. We have the resources to market your property and bring the right pool of buyers. All you have to do is contact one of our The Power Is Now agents to help you through. References https://www.investopedia.com/articles/personal-finance/071514/8-reasonsnot-sell-your-home-without-agent.asp

THE POWER IS NOW MAGAZINE | DECEMBER 2021

By Joe L. Fisher

Why isn’t the highest offer always the best offer?

he housing market is a whirlwind! Because this is a seller’s market, purchasers will compete in whatever manner they can to become the owners of the listed homes. Every bidder makes the finest offer they can to the potential sellers, which they think is enticing and exceptional. Offering the greatest home price is one of the most perfect and enticing offers for buyers, but is it the best offer? Certainly not! Every seller has distinct objectives, and there are many other factors to consider besides the price when making an offer. Homeowners engage with their brokers to determine the best offer depending on their goal and urgency to sell, as well as the market conditions and more so, tend to establish the motive of their prospective buyers. As said by Jeff Samuels, a regional manager for Northern California at Agency, “The key is to help the seller look at the whole picture for each offer—not just price, but all the terms, and also the perceived eagerness of that buyer.” WWW.THEPOWERISNOW.COM

REASONS THE HIGHEST OFFER MAY NOT BE THE BEST OFFER Non-cash payment- One of the most common reasons for contract failure is non-cash payment financing. If the buyer is unable to obtain a mortgage, they will be forced to terminate the deal. This takes the seller back to square one when it comes to selling their home, which costs them money and time. This implies the vendor will have to start all over again. No seller wants to be in this uncomfortable scenario, thus they prefer all cash payments because they don’t have to wait for mortgage documentation. For customers who require a rapid closing due to school or work relocation, the mortgage payments form may not be an appealing option. Because it provides a guarantee to the seller and because most purchasers cannot afford it, an all-cash offer is favorable. Lack of pre-approval letter- Although it isn’t required, being mortgage pre-approved, might provide a buyer a noticeable advantage in such a competitive market. A pre-approval letter informs the seller that the buyer has met with a lender and has been approved for a l

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mortgage. If the buyer doesn’t show the letters, the seller assumes they don’t have their finances in order, thus the sale isn’t certain to close. Buyers may not be able to purchase the house even if they make the greatest offer. Inflexible Timeline - the closing date may be more essential than the home price offer in some cases. Some sellers may prioritize a rapid sale above a high price for a variety of reasons, including cash flow or relocation. Even if the highest offer is made, a buyer who is unable to meet these deadlines will lose the property. On the other hand, the seller may not be in a hurry to leave for a variety of reasons. The buyer should wait until the deadline has passed. If the buyer is in a hurry to buy, it is a turn-off to the seller, and even if the buyer offers the highest price, the buyer may not be the best. The more rigid a buyer is, the less appealing the deal gets. Too many contingency- sellers see contingencies as a disadvantage, so an offer with the fewest possible contingencies is more enticing. Some contingencies are important, and waiving the ones that aren’t is the best approach to make the offer stand out. This will encourage vendors to consider the offer over the best possible price. With the heated up market condition, money is not everything as sellers are looking for the ‘highest and best offer’ Most Buyers make the mistake of bidding with the highest offer and end up not affording to pay in the name of becoming the outstanding buyer. The best way to avoid such risks is to work with a qualified real estate agent. They know exactly what the seller wants and help you work through your strategies. Make your offer appealing without having to go through financial strains, by heading on to The Power Is Now Media Inc. We are the best realtor company for all your real estate investment. Joel Fisher, a VIP agent in Richmond can guide you in the best ways to strategically place your offer and be the seller’s best choice. 136 l

ABOUT JOE FISHER Joe Fisher has worked as a First Time Home Buyer Specialist and realtor since 1998. Having served on the CCAR Board of Directors as President and Vice President. He is the President of the Coronado Neighborhood Council, a member of the Richmond Chamber of Commerce Board of Directors, the Richmond Convention Visiting Bureau Board of Directors, and the Richmond Convention Visiting Bureau Board of Directors. ABOUT THE POWER IS NOW MEDIA INC. The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage in various thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help make your home ownership dream a reality. Go to www. neverrentagain.com and get started today. Eric Lawrence Frazier MBA, Vice President and Mortgage Advisor of First Bank, NMLS 461807. President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com

References: https://www.trulia.com/blog/5-reasons-the-highest-offer-wont-always-get-youthe-house/ https://www.mansionglobal.com/articles/in-a-frenzied-market-the-highest-offermay-not-be-the-best-one-2 https://www.upnest.com/1/post/do-sellers-always-accept-the-highest-offer/

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Frazier Group Realty Inc. 3739 Sixth Street Riverside, CA 92501

“Your Real Estate Navigator” www.fraziergrouprealty.com rubyfrazier@fraziergrouprealty.com F: (714) 908-7298 Lic# 01751773

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O: (951) 686-5261

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Mortgage Fraud On the Rise Amide Rise in Purchase Loan Share

ccording to a recently released CoreLogic Report, Mortgage Fraud Report, there was a 37.2 percent year-over-year increase in fraud risk at the end of the second quarter of 2021. The 37.2 percent increase appears to be significant, measured from the lowest index point in Q2 2020, the lowest in Core Logic’s 11-year history. When the pandemic hit, and the refinancing boom ensued in Q2 2020, the index had dropped to 96 thanks to the increase of lowrisk rate/term refinances. The index seen is very, however, very similar to the levels seen in Q2 2019—which was 131.

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In the second quarter of 2021, about 1 in 120 mortgage applications had fraudulent activity, 0.83 percent of all mortgage applications. An increase from last year’s second quarter in which the estimate of applications with fraudulent activities was 0.64 percent, about 1 in 164 applications. Like the previous year, investment properties had the highest risk applications for both purchases and refinance populations. To narrow it down further, investment purchase applications showed the highest risk, with 1 in every 23 applications having some fraudulent activities. As for purchase applications, their fraud risk jumped by 40 percent, while the risk for refinance applications THE POWER IS NOW MAGAZINE | DECEMBER 2021

has increased by 19.4 percent. The report suggested that continued low mortgage rates and a record volume of refinances made transactions less risky. There was, however, a turnaround in purchase loan fraud risk, which rose by 6 percent—the risk driven up by an increase of high-risk investment properties.

“Refinance opportunities that surged lending volumes during the pandemic may be winding down. The outlook is for fewer lowrisk refinances compared to purchases and cash-out refinances, which translates to a higher-risk environment for fraud,” says Ann Regan, executive, product management at CoreLogic. According to the latest ICE Mortgage Technology’s Origination Insight Report (OIR), purchases made for most closings than refinances for the first time in 2019. The report revealed that purchases rose to 51 percent of closed loans in June, an increase from 47 percent in the month prior. On the other hand, refinances represented 48 percent of closed loans, down from 52 percent the previous month. The CoreLogic report indicated that most frauds showed increased risk, with transactional risk showing an increase of 34.2 percent year-overyear. While most risks increased, income and property fraud risk decreased, however, slightly. The ICE Report indicated that occupancy fraud was an area to watch out for because of the GSEs limit on financing availability for nonprimary occupancy—something that would act as a motivation for occupancy misrepresentation. Based on location, Nevada ranked the highest state susceptible to mortgage application fraud in Q2. California ranked second, followed by Hawaii and Florida, and finally New York. WWW.THEPOWERISNOW.COM

CORELOGIC is a leading global property information, analytics, and data-enabled solutions provider. The company uses combined data from public, contributory and proprietary sources to develop an index to analyze loan application fraud risk experienced in the mortgage industry. Eric Lawrence Frazier is President and CEO of the Power Is Now Inc. The Power Is Now is a multimedia company specializing in real estate and mortgage education for consumers and real estate professionals on various topics in real estate, lending, economics, and government policy since September 1, 2009. The financial and real estate information is distributed through BlogTalkRadio, iTunes, TuneIn, and other online radio platforms nationwide, as well as online T.V. and eMagazines. Connect with Eric Frazier DRE 01143484 | NMLS 461807 | Office: 800-401-8994 x 703 | Direct: 714-361-2105 and start your real estate investment journey or homeownership in safe hands. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media Work Cited https://www.corelogic.com/insights/mortgage-fraudhttps://mortgageorb.com/mortgage-fraud-risk-increases-37-2-year-over-yearreports-corelogic https://www.mpamag.com/us/mortgage-industry/market-updates/report-revealssignificant-increase-in-mortgage-fraud-risk/314678 https://www.nationalmortgagenews.com/news/mortgage-fraud-risk-spikes-amidrise-in-purchase-loan-share l

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Opinion: Why Are Gen Xers Preferring Reverse Mortgage Products?

into the loan balance, and it does not require them to pay anything upfront.

everse mortgage products are becoming popular among Gen Xers; people born between 1961 and 1980 and represent 20 percent of the population. So popular that the loan generally offered to homeowners that are 62 or older has seen some financial institutions lower their age requirement to 55. But before we analyze why this type of loan has gained popularity, let us address what it is. According to Investopedia. com, this is a loan offered to homeowners that are 62 or older. The homeowner must own the home, meaning that the house is fully paid for. If the 140 l

home has considerable equity, the homeowner can ask the bank to loan them money as tax-free income. Unlike a forward mortgage, the kind that most of us use to pay for our homes, the bank does not require the person to make any monthly loan payments. Instead, the financial institution disburses money to the homeowner every month, in a lump sum, line of credit, or term payments, hence the term “reverse” mortgage. In a forward mortgage, a person must make a down payment with the lender. In the case of a reverse mortgage, the homeowner’s interest is rolled

In the event a homeowner dies, the home will be sold, and the proceeds will be used to cover the loan principal. However, the homeowner is required to pay back the money once they die, sell the home, or move permanently. In which case, the house acts as collateral; only the homeowner holds on to the title until they are ready to pay off the loan. The loan is structured so that the loan amount does not exceed the home’s value and that the borrower or their estate aren’t held responsible for paying the balance if the loan was valued higher than the home value. An occurrence that can be seen if the worth of a home drops or the homeowner lives for a long time. There are three types of reverse mortgages: Home Equity Conversion Mortgage (HECM), proprietary reverse mortgage, and single-purpose reverse mortgage. However, the most

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common type is the home equity conversion mortgage (HECM). HECM is offered on homes with a value of $765,600, but if your home is valued higher, you can look into the jumbo reserve mortgage. So why would a homeowner who has managed to get out of debt by paying off their mortgage go back into debt? According to the 2020 Workplace Benefits Report, Gen Xers are displaying higher financial anxiety.

“The [survey] found that just 23% of GenXers feel a sense of progress saving for retirement; only 22% feel progress about growing their savings to pay for unexpected expenses and a mere 14% feel progress paying for current and future health care expenses,” the report read in part. Those numbers doubling for baby boomers. Another survey from Allianz Life found that 42 percent of GenXers were stressed about their finances, further amplified financial anxiety among Gen Xers. An annual survey by TransAmerica, the median retirement savings for a GenXer is $66,000, finding a mere 14 percent “very confident” they will be able to fully retire comfortably. Despite working for years, GenXers are financially fragile, with a majority being weighed down by debt. As a result, Gen X is saving less, depleting their emergency funds, and is less prepared for out-of-pocket health emergency costs. Products such as reverse mortgages offer many Gen Xers some sort of security once they retire. According to RMD, the older GenXers will be able to access HECM at the beginning of 2023, and some will be able to access the proprietary reverse mortgage as soon as 2021.

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ABOUT ERIC FRAZIER: Eric Lawrence Frazier is President and CEO of the Power Is Now Inc. The Power Is Now is a multimedia company specializing in real estate and mortgage education for consumers and real estate professionals on various topics in real estate, lending, economics, and government policy since September 1, 2009. The financial and real estate information is distributed through BlogTalkRadio, iTunes, TuneIn, and other online radio platforms nationwide, as well as online TV and eMagazines. Connect with Eric Frazier DRE 01143484 | NMLS 461807 | Office: 800-401-8994 x 703 | Direct: 714-361-2105 and start your real estate investment journey or homeownership in safe hands. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media

Work Cited https://www.investopedia.com/mortgage/reverse-mortgage/ https://www.onlinemortgageadvisor.co.uk/offset-mortgages/mortgage-reserves/ https://www.nationalmortgagenews.com/news/as-gen-xers-age-reversemortgage-products-proliferate https://reversemortgagedaily.com/2021/01/10/get-ready-reverse-mortgagepros-gen-xs-money-concerns-outweigh-those-of-boomers/ https://www.housingwire.com/articles/one-lender-begins-targeting-gen-x-forreverse-mortgages/ https://gazette.com/business/financial-challenges-and-solutions-forgeneration-x/article_b5878cd0-f942-11eb-b15e-7ffad28046c8. html#:~:text=According%20to%20Forbes%2C%20Gen%20Xers,have%20time%20 to%20catch%20up. https://www.forbes.com/sites/nextavenue/2021/01/04/why-gen-xers-are-waymore-worried-about-money-than-boomers/ l

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eople are more familiar with the 15 and 30-year mortgage terms; lenders have offered the two options for years. There is, however, a third option, the 40-year mortgage option. It represents an extended mortgage term that allows you to make lower monthly mortgage payments for a certain period of time. And though the 40 years may sound like a very long time, this plan might be the saving grace for millions of Americans unable to keep up with their high monthly mortgage payments. The government-owned mortgage bond corporation Ginnie Mae announced earlier this year the new 40-year mortgage option. The option will be available to homeowners with 30-year mortgage terms. According to Ginnie, Mae would be offered by one of the government agencies backed by the government-owned mortgage bond corporation.

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How does the 40-year mortgage option work? The Ginnie Mae 40-year mortgage option is a loan extension program, similar to the Hope program of the financial crisis of 2008, that seeks to help people facing financial hardships. To avoid losing their homes in foreclosure, it intends to make mortgage payments more manageable for families whose incomes were hit hard during the pandemic.

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New Option Now Available: The 40-Year Mortgage Option “As interest rates rise, this 40-year feature will enable more payment reduction options to help homeowners,” Alanna McCargo said after Ginnie Mae’s announcement. “Ginnie Mae has been integral to the interagency actions to prevent foreclosure for homeowners experiencing financial hardship as a result of the [the COVID-19 pandemic].” Under this new option, you get to choose the payment option for the first ten years. After the ten years have lapsed, it is assumed that you are back on your feet, and your loan will revert back to the standard 30-year mortgage term. This means your monthly mortgage payments will go towards reducing your loan principal. However, with this third option, your payments in the years after year eleven will be considerably higher. In addition to this, investors will also be able to purchase securities backed by modified 40-year loans.

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“We think the market will find value in securities backed by these loans, so we wanted to provide a pooling structure that would enable issuers to capture that valuethereby enhancing their ability to provide the strongest possible options to the homeowners while remaining respectful of investors’ capital,” John Getchis, Ginnie Mae’s senior vice president for capital markets.

period translates to more money paid overall— you will pay more interest over the life of your loan. Unfortunately, this loan isn’t available to new borrowers or those with shorter terms and are struggling. The pros do outweigh the cons, but the choice to use this route should be carefully evaluated. In the meantime, borrowers should look out for when the product is officially launched.

The U.S. Department of Agriculture insures the loans backed by Ginnie Mae, the Department of Housing and Urban Development (USDA), Federal Housing Administration) FHA and the Department of Veteran Affairs (V.A.) make them an excellent addition to an investor’s portfolio.

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Who is eligible for the 40-year mortgage option? Though many families faced financial hardships during the pandemic, only a fraction of those in forbearance will be eligible for the Ginnie Mae 40-year loan term. For you to qualify, your loan must be in default or near default. Your original mortgage term must be longer than 361 months (30 years) and less than or equal to 480 months (40) years—15-year mortgages can, therefore, not be extended under this program. Finally, your loan must have an FHA, VA, USDA, or PIH loan.

The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media

Families struggling with mortgage payments should explore loan modification options. Is the 40-year mortgage option for you? As with anything involving money, you must weigh the pros and cons of the 40-year mortgage option. With the 40-year mortgage, your loan will be stretched over a long period, resulting in lower monthly payments. When the payments are more manageable, many families will be able to avoid foreclosure. In addition to this, a more extended payment WWW.THEPOWERISNOW.COM

Work Cited https://www.forbes.com/advisor/mortgages/what-is-the-40-year-mortgagemodification/#:~:text=The%20idea%20is%20to%20help,can%20longer%20 afford%20their%20mortgages. https://www.bankrate.com/mortgages/what-are-40-year-mortgages/ https://newfi.com/home-loans/40-year-mortgage/ https://www.rocketmortgage.com/learn/40-year-mortgage https://selfi.com/pros-cons-40-year-mortgages/ https://www.housingwire.com/articles/ginnie-mae-unveils-40-year-mortgage-termfor-issuers/ https://www.ovmfinancial.com/ginnie-mae-40-year-mortgage/ https://www.americanbanker.com/news/ginnie-mae-to-allow-modified-40-yearloans-to-be-securitized l

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Some Useful Tips to Improve Your Bio Online and Make You Stand-out

econd to the “tell me about 1. Share your backstory yourself question,” writing a Human beings are a curious lot; whether we are reading personal bio has to be the most a magazine or book, we want to know the backstory of our characters. We want to know Where did it all start? challenging thing. Finding something By sharing glimpses of your backstory and milestones, to say about ourselves is the bane of the reader connects to you personally. They get to feel existence; it doesn’t matter whether your passion and commitment for what you do. it’s for your online dating profile or our networking platforms. “Jenny Gonzales has been in the real estate industry since 1998. Her career started at a company that did In theory, we should have tons of Real Estate and Loans. After six months of mastering that things to say about ourselves; I mean, craft-loans (She’s a numbers person), she drove straight we spend every waking moment with into Real Estate….” ourselves. The reality, however, is finding things about yourself to fill 2. Make it authentic in your bio is an uphill task. And just Second to a bad bio is an inauthentic bio—one that in case you are among the few who sounds very robotic. Short biographies are often dull, and have hacked writing a bio, are you perhaps it is word restriction or structured sentences. sure it’s interesting? As much as it is hard to get all your achievements or

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“Mrs. Simmons’s hard work, charisma, and genuine passion for her business have helped boost her reputation as a qualified realtor. Mrs. Simmon’s area of interest is real estate, whether it be navigating the way for your first home, or even trying to score a perfect distressed property, or providing help in the luxury

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A bio is like a snapshot of your personality, representing who you are and what you have achieved. Considering that it only receives microseconds of attention online, you want it to stand out!

qualities in there, remember to bring the person through the words—be yourself! Have you ever written a bio, and when you read it, it didn’t sound like you that it was painfully flat?

market, Peggie knows and has had a taste in it all!” 3. What is your value You might get so caught up in making your bio attractive that you lose sight of why you are writing the biography in the first place. A bio sells you in places you’ve never been; if its purpose is to network—you want your bio to say what you can bring to the table. Forget humility—brag a little! Share your educational background, academic achievements or philanthropic passions—essentially why you. “Briana Frazier Cannon, Broker of Frazier Group Realty, has over 15 years of real estate sales and property management experience. She is well known in the industry and with her clients as Broker Bree. Briana specializes in home buyers and home listings. She has sold millions of dollars in real estate and takes pride in helping first time buyers enter homeownership.” 4. Tell a story An online bio should not be confused with a resume. True, it would help if you wrote about your achievements and skills, but it shouldn’t be all about that. Your personality should shine through, and a great way to do that is to use story-telling elements—you’ll have the reader’s attention even in the middle part. According to social learning theory, people are drawn to stories because they want to learn through characters’ experiences. “Jenny Gonzalez’s first listing was of a couple in their 30’s that responded to a handwritten letter like all the other letters. The couple had spent on breast cancer treatments and had another baby coming. Their home cost them more than it was worth and just like that her first listing was a short sale in the 1990’s….” 5. Use humor Connection to your audience is critical; telling a joke may make them laugh and want to WWW.THEPOWERISNOW.COM

continue reading the rest. If you decide to write one, remember to keep the tone professional and if it’s not in your personality, don’t. We wouldn’t want a cringe joke that turns off readers. Stoney deGeyter’s bio once read, “TL: DR: Writer, speaker, digital marketer, dad, husband, sci-fi geek, 63 percent robot.” Writing a bio can be nerve-wracking; it could be an endless cycle of “write. delete. write.” The first step to a great bio is finding your voice, and you shouldn’t sound like somebody else’s bio—it should be true to you. And once you do, remember to incorporate some story-telling elements, keep the readers engaged to the very end. And once you have your first draft, edit-edit! It can be a great turn off to readers if you have a litany of mistakes. Finally, get a second opinion, ask a friend or even mentor to look over your bio to correct any errors and at least calm your nerves by giving you some validation. ABOUT ERIC FRAZIER: Eric Lawrence Frazier is President and CEO of the Power Is Now Inc. The Power Is Now has been a multimedia company specializing in real estate and mortgage education for consumers and real estate professionals on various topics in real estate, lending, economics, and government policy since September 1, 2009. The financial and real estate information is distributed through BlogTalkRadio, iTunes, TuneIn, and other online radio platforms nationwide, as well as online TV and eMagazines. Connect with Eric Frazier DRE 01143484 | NMLS 461807 | Office: 800-401-8994 x 703 | Direct: 714361-2105 and start your real estate investment journey or homeownership in safe hands. Work Cited. https://www.indeed.com/career-advice/resumes-cover-letters/write-a-personalbio-that-draws-attention https://www.strikingly.com/content/blog/how-to-write-a-bio/ https://brandyourself.com/blog/how-tos/8-tips-on-how-to-write-a-personalbiography/ https://writetodone.com/online-bio/ https://www.strikingly.com/content/blog/how-to-write-a-bio/

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5 strategies for brokers to improve performance and outcomes

t is a common misconception that hard work translates to productivity. The truth is you could work into the wee hours of the morning and still achieve very little. Productivity goes beyond ticking off a few items on your to-do list. To be productive means to do everything on your list, using the least time possible and get maximum outcome. Productivity requires smart planning, strategizing, and laser-focusing on the actions that will take you closer to achieving your goals. As a real estate broker you need to assess the habits that are working for you and what are not. Take time to really look at what you hope to achieve and where you are currently. And if your productivity needs a boost, here are a few tips to point you in the right direction. 1. Time management It is often tempting to take up more tasks as that would mean more work is getting done. The danger with that, however, is that you could have a pile of unfinished or poorly done tasks. Take time to create a list of all the tasks you need to accomplish. Two, arrange these tasks according to their potential impact and urgency. Rethinkcrm.com suggests arranging them in this order: • • • •

High-impact, high-urgency tasks High-impact, low-urgency tasks Low-impact, high-urgency tasks low-impact, low-urgency tasks By arranging your tasks in this order, you will be able to allocate each task enough time. Consequently, you will finish your work in good time and the quality of your service will not be compromised. And if the tasks become a little overwhelming do not be afraid to delegate, all hands on deck means you get to have greater outcomes.

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2. Your marketing strategy The real estate market is quite competitive; a client may be looking at other brokers. A solid marketing strategy will help you stand out from the crowd. There is a digital revolution taking over the real estate industry, you need to leverage digital media as a marketing tool. To start, you will need • Define your objectives and Target Audience As a broker, what is your target audience? Where does your audience spend its time online? What methods will you use to reach them? What is your budget? What tools and resources do you need? • Develop a commercial real estate marketing plan that will provide you with a comprehensive overview of your goals and means to achieve them. • Consider what tools and resources you will need—will it be contact management, email marketing, listing presentation • Upgrade your company’s website, it is what your clients interact with first. • Add your listings on commercial real estate portals • Optimize your websites SEO Regardless of what marketing tool you’ll use, let all of them focus on increasing visibility for THE POWER IS NOW MAGAZINE | DECEMBER 2021

your company or work. Visibility will greatly attract potential clients. 3. Negotiation Skills As a real estate broker you interact with a lot of clients, it is important to sharpen your people skills. Your clients will have been in the business field for a while and they will test you and your ideas. There will be some back and forth—learn how to deal with this in a calm and professional manner. 4. Communication strategy Working in CRE can be very hectic, you could have communication spread across multiple spreadsheets and other platforms—making it difficult to maintain consistent communication with your clients. On top of that, finding and establishing relationships with clients is another challenge all together. All of which can get overwhelming, but it doesn’t have to be. To remain grounded you will need to use an organization tool. A Customer Relations management (CRM) software will help you centralize and streamline your communication. A Software Advice report claimed that 74 percent of CRM adopters found that CRM “Offered improved access to customer data. Moreover, 47 percent of CRM users reported to have seen an improvement with customer satisfaction and retention. 5. Take Breaks Taking some time-off work is critical for your productivity. In fact, a Stanford University Study revealed that working more than 50 hours a week drastically reduces productivity. Moreover, the more hours you work, the lower your productivity becomes. And a more jaw dropping fact is people who work 70 hours a week accomplish just as much as those who work 55 hours per week. To remain productive, try the Pomodoro Technique, 25 minutes of focused work, and follow that with WWW.THEPOWERISNOW.COM

a 5-minute break. The technique will help you eliminate any distractions, increase your focus and improve your mood. It will be hard to get over the notion that more work equals to more productivity but all you need is to exercise some discipline. Time management will either make or break your business, schedule your tasks from high priority to low priority. And yes, it will be difficult to let go of control, but delegating some tasks will help you dedicate your attention to the most important tasks. Additionally, networking is also very important, as clients want a well-connected broker. Important of all, is taking time off, giving your body and mind time to relax. The Power Is Now Media Inc., has experienced and skilled real estate brokers and agents eager to help you step into the next phase of real estate investment—to connect with them head on to www.thepowerisnow.com ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for home ownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com

Work Cited: https://commercial-realestate-training.com/the-top-7-performance-tips-forcommercial-real-estate-brokers-and-agents/ https://massimo-group.com/productivity-tips-commercial-broker/ https://rethinkcrm.com/blog/commercial-real-estate-marketing-ideas/ https://resources.boomtownroi.com/blog/productivity-tips-for-successful-andbalanced-real-estate-business l

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World Aids Day: The Impact HIV/AIDS has had on Families wellbeing and access to housing

very year on December 1, we join the world in celebrating World’s Aids Day. It is a day that we create awareness on HIV/AIDS and show support for those living with HIV. It is a time that we remember those that died from HIV-related illness, taking time to destigmatize HIV.

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The theme for the 2021 observance is “Ending the HIV Epidemic: Equitable Access, Everyone’s Voice.” It was first observed in 1988. Every year, organizations and individuals worldwide bring attention to the HIV epidemic, endeavor to increase HIV awareness and knowledge, speak out against HIV stigma, and call for an increased response to end the epidemic globally.

people died from HIV-related illnesses, with data showing that the deaths in 2020 represented a 64 percent decrease from the peak in 2004 and 47 percent fewer than 2010. That being so despite exponential growth in population in high burdened areas. In general AIDS-related mortality has declined by 53 percent among women and girls and by 41 percent among men and boys since 2010. At the end of December 2020, 27.5 million people were accessing antiretroviral therapy, a rise from 2010 where only 7.8 million people accessed the drug. Of the 27.5 million people, 74 percent were adults older than 15 years, and 79 percent were women.

In 2020, there were almost 37.6 million people across the globe with HIV. The infection is greater in adults than children; 35.9 million and 1.7 million, respectively. During the Covid-19 pandemic, 1.5 million people tested positive for HIV.

And though we had come a long way from when the epidemic began, we are still facing challenges that we faced decades ago. People living with HIV (PLWH) face stigma, housing, not being able to access the correct services they need, and so much more.

(New HIV infections), a 30 percent decrease in new infections since 2010. Of these new infections, 1.3 million were among adults, and 160,00 were among children under 15 years.

The links between impoverished housing conditions and HIV and AIDS are numerous and complex when it comes to housing. Characteristics of impoverished housing conditions such as overcrowding, tenure insecurity, inadequate water, sanitation, and basic services intensify the impact of HIV and AIDS. Homeless people and those living in marginal conditions have an elevated HIV burden. As a matter of fact, even with the availability of highly active antiretroviral therapy (HAART), people living with HIV from these areas have no access to it or have suboptimal treatment.

Since the start of the global epidemic, 79.3 million people have been infected with HIV. Conversely, 36.3 million people have died from AIDS-related illnesses since the beginning of the epidemic. Women and girls account for most HIV infections, with 53 percent of all infections in 2020 being women. By the end of 2020, an estimated 680,000 148 l

THE POWER IS NOW MAGAZINE | DECEMBER 2021

Households led by women suffer disproportionately from housingrelated vulnerability. And not forgetting that the HIV epidemic worst hits women, and when gender dynamics are taken into account, it is easier for women to lose their homes than men. According to HIV.gov, stable housing is closely linked to successful HIV outcomes. With safe, decent, and affordable housing, PLWH has better access to medical care and supportive services and are more likely to get on HIV treatment and take their drugs more consistently. Unfortunately, people worldwide with HIV risk losing their homes due to factors such as stigma and discrimination increased medical costs and limited incomes, or reduced ability to keep working due to HIV- related illnesses. The U.S. department’s (HUD) Office of HIV/AIDS Housing is helping take care of the housing needs of low-income people living with HIV and their families. Under the Housing Opportunities for Persons With Aids (HOPWA) Program, HUD grants local communities, states, and nonprofit organizations for projects that benefit low-income people living with HIV and their families. The program provides PLWH with short-term and long-term rental assistance. HOPWA also operates community residences and creates other supportive facilities to address the needs of people living with HIV. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media Work Cited https://www.unaids.org/en/resources/fact-sheet https://www.hiv.gov/hiv-basics/overview/data-and-trends/statistics http://www.icad-cisd.com/pdf/Housing_Fact_Sheet_Final_EN.pdf https://www.hiv.gov/hiv-basics/living-well-with-hiv/taking-care-of-yourself/housing-and-health https://www.hiv.gov/events/awareness-days/world-aids-day https://www.unaids.org/en/2021-world-aids-day https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4695926/

HOME OWNERSHIP by Eric Lawrence Frazier MBA Home ownership brings stability to individuals and families who have never had a dwelling place that they could call their own. There is something special about owning real estate that is unlike anything else on earth you can own. Real Estate you own is not like cars that decay over time and you have to replace them. Real Estate you own is not like clothes that go out of style and you have to buy new ones. Real Estate you own is not like expensive vacations or experiences that only last a moment in time. Real Estate you own is not like an apartment where the landlord may increase the rent until it’s no longer affordable. Real Estate you own is not like staying at your parents house where you know can’t stay forever. Home ownership is the beginning of wealth that increases over time and becomes your estate & legacy Home ownership is the pride of a mother nurturer and the kitchen her domain Home ownership is the pride of a father provider and protector of his territory and family. Home ownership is the foundation of permanence and the place where life happens, birthdays celebrated, deaths mourned. Home ownership is the place you build memories that can never be taken from you. Memories etched in walls and concrete, experienced in rooms and floors, Memories living in trees and shrubs planted by your hand. Howe ownership is the manifestation of you - your style, your colors, your smell, your stuff, your junk, your memories, your yard and your spaces, your life.

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THE POWER IS NOW MAGAZINE | DECEMBER 2021

It’s the height markers on your first child’s bedroom wall. It’s the hearts drawn in the concrete slabs when you pour your patio floor It’s the birthday parties, and anniversaries in the living room and kitchen. It’s the back yard barbecue with friends, neighbors and family contentions it’s the high school and college graduation, and wedding receptions Its’ the family nights and block parties and the fellowship of family connections

Home ownership It’s more than real estate. Land, brick and mortar, wood frame construction and chicken wire. It’s more than money saved, gifts recieved and grants obtained It’s more than the debt you incur to buy it. It’s more than the payments you make to own it. It’s more than the appreciation that comes with keeping it over time. It’s memories, it’s family, and it’s life that can happen in one place Until you say it’s time to move.