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ABOUT JUNETEENTH Page 118

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JUNE 2021 Vol. 08 | Issue 6

CHARLIE OPPLER 2021 President of NATIONAL ASSOCIATION OF REALTORS

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magazine CENTRAL edition Vol. 08 | Issue 6

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contents

JUNE 2021 IN OUR CENTRAL EDITION: Pg. 26 What’s good cash on chas in 2021 for your commercial investment, by Steve Peterson. Pg. 29. Arlington Metro housing report, May 2021 , by Johnnie Morine.

IN OUR EAST COAST EDITION: Pg. 35. These are the mistakes to avoid between loan approval and closing, by Emerick Peace. Pg. 38. Why waiting to buy a home could cost your journeyhomeownership in Florid, by Adriana Montes.

POWER GREEN Pg. 8. World environment day 2021.

POWER REAL ESTATE Pg. 12. Rethinking and Re Strategizing our Neighborhoods: The Neighborhood Homes Investment Act. Pg. 14. Hope At Last for LA Skid Row Residents! But… There’s a Problem.

POWER LENDING Pg. 16. The lending landscape might drastically change in 2021. Here’s Why…

POWER TECHNOLOGY Pg. 18. The Power Of tech: AI and Algorithms Reduce Lending Discrimination.

IN OUR WEST COAST EDITION: Pg. 45. Here are some home that will give you the greatest returns, by Yvonne McFadden. Pg. 49. How tofind profitable for investment in Ariz, by Peggie Simons. Pg. 53. These home renovations will give you greatest retu for your investment, by Kamesha Keesee. Pg. 57. 12 best placeto buy in Rancho Cucamonga, by Ameer Elahee. Pg. 61. First Time Buyer Guide: 10 house hunting mistakes for first-time home buyers, by Ruby Frazier.

Pg. 64. Meet Charlie Oppler, 2021 President of National Association of Realtors. Pg. 69. Debunking real estate investment myths in Irvine: Irvine is too expensive for me, by Cornelius Jackson. Pg. 83. Top 10 neighbourhoods for investing in Corona Real Estate market, by Jenny Gonzalez. Pg. 77. You can buy a property without a Realtor, but I warn you against it! by Danon Burnside. Pg. 81. The state of black housing in Oakland, by Denise Matthis. Pg. 85. Understanding the home’s appraisal process and how it can affect your mortgage payment, by Kenneth Session. Pg. 89. Avoid staying stagnant, finding your new homefor the next stage, by Robert Langston. Pg. 93. Here’s how to plan for the perfec, by Briana Frazier. Pg. 97. Ready to make the bold move? A-1 Realty is here to help you every step of the way, by Adrian Bates. Pg. 101. How to save money for downpayments and closing costs on anew home, by Success Money. Pg. 105. The PROs and CONs of VA homeownership for veterans, by Joe Fisher.

POWER LEGAL Pg. 108. CFPB Issues Reports Detailing Mortgage Borrowers’ Continuing COVID-19 Challenges.

Pg. 110. Fannie and Freddie Told to Write Their Wills.

POWER MORTGAGE Pg. 112. Mortgage Application Volume fails to keep up with the Red Hot Housing Market.

POWER HEALTH Pg. 114. June is Alzheimer’s and Brain Awareness Month. Pg. 116. June is Also World Sickle Cell Day.

POWER HISTORY Pg. 118. The history of Juneteenth. Pg. 122. World Father’s Day. l

FROM tHE EDITOR Charlie’s story of how he has managed to climb up the ladder of leadership to become the highest in rank. In addition to that, we tell you what Charlie has in store for NAR moving forward including the launch of mentorship programs targeting the Gen-Z population.

une is the homeownership month and during this month, we are celebrating the hardworking Americans who are creating a home or are in a process of becoming homebuyers. Being counted as a homeowner means that you are getting an inch closer to the American Dream and also sharing your experience of what the homeownership journey is like will help others become homeowners too. As such, this month we have prepared a series where we interview movers, shakers, and leaders who are making homeownership a reality. Be sure to check these interviews happening on our social platforms all through the month. On our cover, this month is Charlie Oppler, the 2021 President of the National Association of Realtors. Find out 6

To date, there have been several reports that indicate that homeownership in the country has risen despite the ravaging effects of the Pandemic. While the economy may have fallen off a cliff, it didn’t stop people from buying homes. We look at the “blessing of the pandemic” for the real estate market and how the pandemic pushed people to become homeowners. But even so, disparities still exist. It is 2021 and we are still talking about the inequitable access to housing! Two decades ago, black neighborhoods were doing well financially, but today, most of them are poverty-stricken! A good example is Cleveland which had more than 900,000 residents in 1950, but by the year 2000, its population had fallen below 500,000. Large cities like Baltimore, Chicago, Detroit, Milwaukee, and Philadelphia are losing great not unless we start doing something. This is an article we’ve delved deeper into to answer the question of why these once glorious black neighborhoods and cities are slipping into poverty. Most economists and mortgage experts agree that 2021 will be the year when we start seeing some drastic changes regarding lending in the country. This comes despite the fact that there might also be the year when we experience the highest delinquency rates. Overall, this scenario creates a rift where one group is struggling to make ends meet, and the other is more suited to take up the The Power Is Now Magazine | JUNE 2021

properties that will become available. Should this happen, it would create a dramatic contrast to the scenario that we had in 200810 where lenders were forced to tighten the lending standards. But are we ready for the consequences? This article’s main theme will be to bring out the consequences of easing the lending standards in 2021 and what that could do to the property market. In other news, Forest fires are a major issue in California. With each strike, the impacts cause ripples in the real estate sector where properties become undervalued, people flee from the hotspots. Concerned about the effects of these wildfires, the Rural County Representatives of California (RCRC) has sponsored a bill, Assembly Bill 1431 (Frazier)-Forest Carbon Plan, and with such a bill in Congress, we seek to understand the value and the benefit it presents in reversing this trend that seems to be getting worse every time it happens? The article will probe into

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the issue of unmasking the Goals of AB 1431 and how they provide an answer to desperate Californians and the California housing industry at large? At this moment, I would like to thank our power team for their continuous hard work and committment to making The PIN magazine a reality and also to you our readers. We would be nothing without you. Our team is dedicated to you. We want the best for you which means we are committed to bringing you the best from us. Take a moment and share this magazine with family and friends. Remember, knowledge is power and The Power Is Now! Eric L. Frazier MBA President and CEO The Power Is Now Media, Inc.

World Environment Day

The Industry, stakeholders and The Government Must All Pitch In To Support Green Buildings

everal individuals are not aware of what green buildings are because there is not a lot of publicity backing the movement.

Definition of Green Buildings A green building which is interchangeably referred to as a sustainable building is a building that uses water and renewable energy to improve the environment, climate, and general human health and wellness. By also utilizing its construction, site planning, and design, it enhances the quality of life and preserves natural resources. Characteristics Of Green Buildings A green building is not limited to just an apartment building or a house, any building which includes these below can be classified as a sustainable building, be it a school, house, etc. Sustainable buildings do not have a definite ‘look’, this is because the architect, owner, type of structure being built, location, 8

culture all have roles to play in it. No two people have an exact image in their heads and would design it in the most convenient way for them. It doesn’t make it less of what it is supposed to be. These characteristics include but are not limited to; • Upholding recycling and re-use of products, thereby lessening waste and pollution. • Using its design to improve the quality of life and health. • Due to the evolution of the world, the design of the building should be able to adapt. • Proper and conservation of water and natural resources. • Utilize renewable energy. • Employ the use of sustainable materials, etc. The Power Is Now Magazine | JUNE 2021

Advantages Of Green Buildings The establishment and betterment of the environment greatly depend on the development and design of sustainable buildings in the communities. These advantages are classified into three, namely; Social, Economic, and Environmental. Social • Upgrade the standard of living. • Boosts comfort, wellness, and health of people who work and live in such houses. • Increases the condition of air in these spaces • Reduces non-renewable utility usage

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Environmental • Reduce, re-use, and recycle waste-causing materials. • Regulates climate change and ozone layer depletion. • Conserve natural resources like water. • Generates/uses biogas. • Increases biodiversity and enhances ecosystems. • Ameliorate the standard of water and air. Economic • Decreased cost of utilities for home occupants. • Enhanced job opportunities. • Reduced construction and operational costs. • Increased cash on cash return for investors. • Higher worker and occupant productivity. • Value of property appreciates. www.tHEPOWERISNOW.com

World Environment Day The World Environment Day is hosted every year by the United Nations (UN) and the keynote of this year, 2021 is Ecosystem Restoration. This process could be in various ways like cleaning small and large polluted water bodies, planting trees in urban areas, eating healthy, etc. This is the age that nature can be revitalized. Government Supporting Green Buildings The pros of erecting environmental-friendly structures are numerous. The Earth, which is the only planet we have deserves to be treated with love and care. The government has to implement methods that assist this movement. The environment, communities, and ecosystems have to be revitalized. The constant degradation of the ozone layer, emission of toxins, drastic climate change, pollution, etc are factors that can shorten the lifespan of people. Industries, shareholders, and governments all concerning themselves with this topic would make way for an amazing change that needs to be carried out for the betterment of the future. You can also watch the series on Facebook Live or our YouTube channel. Tune in today!

ONLINE HOMEBUYER SEMINAR

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Rethinking and Re Strategizing our Neighborhoods: The Neighborhood Homes Investment Act

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lack neighborhoods are at risk! Two decades ago, black neighborhoods were doing well financially, but today, most of them are poverty-stricken! A good example is Cleveland which had more than 900,000 residents in 1950, but by the year 2000, its population had fallen below 500,000. Large cities like Baltimore, Chicago, Detroit, Milwaukee, and Philadelphia are losing great not unless we start doing something. Why are these once glorious black neighborhoods and cities slipping into poverty? What’s causing it? What does the NHI Act propose? Is that all we need, or could the industry do more? Let’s find out. Over the past two decades, most of the famous and glorious black neighborhoods have fallen into poverty. What is happening? In 2005, a record of 307 families purchased houses in 16 neighborhoods dominated by Middle-class African-Americans in Cleveland. About 13 years later, in 2018, the number had dipped by three-quarter, with more than half of the 73 home purchases occurring in just

one neighborhood. Of the 16 neighborhoods, five attracted zero buyers. From this, we get that lack of homebuyers in the once-glorious Black neighborhoods is a major contributor, which has created “a crisis of non-replacement,” according to Alan Mallach, a senior fellow at the Center for Community Progress. A lack of home buyers also results in a vicious cycle, bringing a further decline to those neighborhoods.

Of the 300 neighborhoods all with good median incomes in 2000, “a large majority had slipped into poverty in 2018.” The study further determined that homeownership had dropped, while vacancy and poverty rates were up in almost all the neighborhoods. The big question here is, why is this happening? According to the findings of the study, there has been less focus on the health of the places where AfricanAmericans live. Mallach further notes that neighborhoods are more than just a collection of people. Rather, neighborhoods represent both fixed assets, such as homes, businesses and schools, as well as less tangible assets such as civic and cultural engagement.

“The more poverty increases, the more the remaining middle-class homeowners are going to leave, and fewer middle-class buyers are going to be coming in,”

Another huge contributor to the fall of Black neighborhoods is discrimination in real estate, including in lending and appraising. According to the Brookings Institution, homes in Black-dominated neighborhoods are undervalued by $156 billion nationwide. And folks, this is not a small number.

Meanwhile, Mallach proceeded to carry out a study focused on the fortunes of Black middleclass neighborhoods in six large cities in the US, including Baltimore, Chicago, Detroit, Milwaukee and Philadelphia, and Cleveland— and his findings were “disturbing.”

At this point, you could be wondering, is there any hope left? The Neighborhood Homes Investment Act (NHIA). The NHIA is a federal proposal that was formed to break the stalemate of distressed neighborhoods that cannot retain or attract working families

Mallach says.

due to poor quality homes and have property values that are too low to support the cost of building or substantially rehabilitating quality homes. Well, how would it achieve this? NHIA would do this by offering tax credits to attract private investment for building and rehabilitating owner-occupied homes, creating a pathway to neighborhood stability through sustainable homeownership. Currently, there are no federal financing sources in place to combat these issues. And that’s why the NHI Act is so important, and that’s why our policymakers need to take this Act seriously and treat it with utmost urgency. The Act has already been introduced in the House of Representatives and has been included in the American Jobs Plan under Biden’s administration. The NHI Act builds on the success of the Low Income Housing Tax Credit (LIHTC) for affordable rental housing and New Markets Tax Credit (NMTC) for economic development. Similar to LIHTC and NMTC, the NHI Act utilizes the creativity and discipline of the private market and still addresses a specified purpose of developing owner-occupied homes, unlike LIHTC and NMTC. The NHI Act aims to create a financial tool for single-family housing, as powerful as LIHTC, to aid in the transformation of neighborhoods across the US. The financial tool created by www.tHEPOWERISNOW.com

the NHI Act will not only drive the much-needed resources to investment-needy communities but also expand and speed up the nascent affordable, singlefamily housing development sector that was slowed down by events such as Hurricane Katrina and the mortgage foreclosure crisis. How the NHI Act will work. If passed, states will allocate and administer the NHI Act the same way they are doing with LIHTC for rental housing. The states will first write plans for allocating their NHIA tax credits based on specified criteria, such as the prospect that a proposed project will contribute to neighborhood stabilization and revitalization and the potential of project sponsors. States would then pick NHIA project sponsors— including investors, local governments, developers, and lenders— through a competitive process. Through the tax credits, sponsors

would raise equity capital from investors to administer the development and marketing of the homes. However, it is the investors who will assume all the construction and marketing risks. Moreover, investors will only receive the tax credits after the construction or rehabilitating work is completed and the property occupied by a qualified homeowner. The tax credits provided by the NHI Act will provide a strong incentive for the private sector or investors to build and reinstate homes to uplift struggling neighborhoods. With this, we can assert that there is hope of rebuilding the fallen, mighty Black neighborhoods in the country. Work cited. https://www.governing.com/community/ why-black-neighborhoods-continue-tostruggle. https:// neighborhoodhomesinvestmentact.org/ proposal. l

Hope At Last for L.A. Skid Row Residents! But… There’s a Problem

t last, Skid Row residents have something to smile about- a home! After so long, their dreams can finally be! But there’s a problem. The judge ordered the entire Skid Row population to be housed by mid-October, and while that is a bold move, how do you move such a huge population in homes in a county with housing challenges? Where do you put all these people? Who will pay for it? How will it solve the homelessness crisis in L.A.? Chances are, due to the mental health issues in most of these residents, they may relocate to another neighborhood. How do you prevent that from happening?

“All of the rhetoric, promises, plans, and budgeting cannot obscure the shameful reality of this crisis — that year after year, there are more homeless Angelenos, and year after year, more homeless Angelenos die on the streets,” Carter wrote in the ruling.

Carter further indicated that once enough shelter has been offered to the homeless people in Skid Row, he would allow the city to enforce laws that keep streets and sidewalks free of tents only if they remain consistent with previous legal rulings that have restrained the enforcement of such rulings. Judge Carter also directed the county to offer ”support services to all homeless residents who accept the offer of housing”,

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The Ruling. According to the ruling by Judge David O. Carter, L.A. city and county wrongly paid more attention to permanent housing at the expense of more temporary shelter, “knowing that massive development delays were likely while people died in the streets.”

In 2020 alone, more than 1300 homeless people died in L.A. County.

The Power Is Now Magazine | JUNE 2021

including placements in ”appropriate emergency, interim, or permanent housing and treatment services,” adding that the costs would be split between the city and the county. Earlier on, the county had requested to be withdrawn from the case, arguing the situation was about the city, adding that the county was aggressively combating homelessness without any court directions. The county cited efforts that included putting hundreds of millions of dollars annually in programs such as the Measure H sale tax and developing innovative strategies like Project Roomkey in response to the ongoing pandemic. The budget. Judge Carter’s ruling came on the same day that Mayor Eric Garcetti released his budget for the next fiscal year, including an allocation of about $1 billion to combat homelessness. Carter then directed that the “$1 billion, as represented by Mayor Garcetti, will be placed in escrow forthwith.” Of the $1 billion allocation to homelessness by the Mayor, more than a third would come from Proposition HHH. The Mayor’s aides indicated their expectations that the city would be developing 89 HHH projects over the next fiscal year, representing a total of 5,651 housing units. Moreover, Carter directed that a report of every developer receiving the funds from HHH be submitted to him in 90 days, together with new directives to “limit the possibility of funds being wasted.” Discrimination. The ruling could not be comprehensive without addressing the issue of racial discrimination in housing matters in the area. In the ruling, Carter outlined historic forms of discrimination that had locked People of Color out of housing opportunities, including redlining, segregated systems of assistance during the Great Depression, highway construction that displaced AfricanAmerican families, and criminalization that has disproportionately affected members of the African-American community. Judge Carter pointed out that inequalities based on www.tHEPOWERISNOW.com

one’s race “continue to color government handling of the crisis”, opining that current city and county policies “compound and perpetuate structural racism, threatening the integrity of Black families in Los Angeles and forcing a disproportionate number of Black families to go unhoused.” What experts and concerned parties say. “This is exactly the kind of aggressive emergency action that we think is necessary on the issue of homelessness in Los Angeles,” said Matthew Umhofer, an attorney representing the plaintiffs, the L.A. Alliance for Human Rights. Councilman Kevin de León, whose district includes skid row, welcomed the judge’s decision. “It’s a strong shot across the bow — and he is expecting action,” de León said. “Not continued negotiations or studying everything to death.” Moreover, Pete White, executive director of the skid row-based Los Angeles Community Action Network, expressed his concerns that politicians are using “this litigation to justify investment in emergency shelters instead of housing.” “We all know that shelters won’t solve our housing crisis, and they definitely won’t address the structural racism that got us here in the first place.” Elsewhere, Laurie Levenson, a professor at Loyola Law School, referred to Carter’s ruling as a “deep dive into the problems of homelessness in Los Angeles and an expression of Carter’s frustration with how the city and county have responded to this crisis.” While we’re still unsure of how a higher court might rule if the case gets appealed, Judge Carter’s ruling is already a landmark decision that has shed light on the people of Skid Row and L.A. at large. There is high hope of eliminating homelessness in the U.S., just one neighborhood at a time.

Work cited. https://www.latimes.com/homeless-housing/story/2021-04-20/ judge-carter-la-city-county-shelter-skid-row-homeless-fall.

The lending landscape might drastically change in 2021. Here’s Why.

Should this happen, it would create a dramatic contrast to the scenario that we had in 2008-10, where lenders were forced to tighten the lending standards. But are we ready for the consequences? This article’s main theme will be to bring out the consequences of easing the lending standards in 2021 and what that could do to the property market. The Fed Survey The Fed earlier this year issued a survey of opinions from senior loan officers at banks and other lending institutions aimed at gauging their attitudes. The survey was split up into three different categories, each with a set of questions regarding a distinct area of study as follows; • • •

Lending to Businesses Lending to Households Questions on Banks’ Outlook for 2021

“Bank loan officers are anticipating easing standards on consumer loans this year, despite expecting rising delinquencies,” said NAFCU Chief Economist and Vice President of Research Curt Long. “That outcome would contrast with the financial crisis, where the tightening cycle lasted from 2007 through 2010. “Nevertheless, the fact that high-income households have fared so much better than low-income ones over the past year means that there may still be a lack of access to credit for low-income households even if underwriting standards do ease somewhat this year,” Long added. Below is a summary of the key findings of the survey based on the categories mentioned earlier: 1. Lending to Businesses Commercial and industrial or C&I loans • banks reported tightened standards for C&I loans to firms of all sizes. • On net, modest shares of large banks eased standards to large and middle-market firms. • Moderate shares of small banks reported tightening their C&I lending standards to firms of all sizes. • banks either tightened or left unchanged all lending terms on balance; • a moderate net share of banks reported weaker demand for C&I loans to firms of all sizes. The Power Is Now Magazine | JUNE 2021

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ost economists and mortgage experts agree that 2021 will be the year when we start seeing some drastic changes regarding lending in the country. This comes despite the fact that this might also be the year when we experience the highest delinquency rates. Overall, this scenario creates a rift where one group is struggling to make ends meet, and on the other hand, we have another group that is more suited to take up the properties that will become available.

•

Significant net shares of banks reported a decrease in customers’ merger or acquisition financing needs as an important reason for weaker demand.

Residential real estate (RRE) • banks left lending standards unchanged for most mortgage loan categories and for revolving home equity lines of credit (HELOCs), with important differences across bank sizes; • modest shares of large banks eased standards for government-sponsored enterprise (GSE)-eligible mortgages —which make up the majority of bank mortgage originations—for qualified mortgage (QM) jumbo loans, and for QM non-jumbo, non-GSE-eligible residential mortgages while leaving standards unchanged for the remaining categories of RRE loans; and • large banks reported unchanged demand across all

mortgage categories. 2. Lending to Households • a moderate net share of banks reported easing standards for credit card loans, and modest net shares eased standards for auto loans and for other consumer loans; • banks also increased credit limits for credit card accounts and narrowed the rate spreads charged on outstanding balances over their cost of funds for auto loans and other consumer loans, respectively; and • a moderate net share of large banks reported stronger demand for credit card and other consumer loans, while a modest net share of large banks experienced weaker demand for auto loans. 3. Bank’s outlook for 2021. Many banks reported anticipating weaker a drop in demand for most types of residential mortgages, while most lenders expect stronger demand for consumer loans.

Lenders also expect loan performance on existing consumer loans to sink for most types of borrowers. • Impact on borrowers. When banks ease lending standards, that can lead to consequences like lower interest rates, more access to loans, a lower credit score requirement, and lower down payments required. This will come as a relief to many borrowers, and many will be in a position to afford the loans and mortgages. • Impact on potential home buyers and sellers. Softening residential lending standards comes with positive impacts on both home buyers and sellers. Relaxed residential lending standards make it easier to get a home loan. Ease to get home loans means more people can qualify, which will get more people looking for new homes. When more people are hunting for homes, the real estate market gains strength, and it becomes easier to sell a home. On the other hand, the real estate market becomes more competitive as many buyers flood the market looking for homes. The bottom line is that both the home buyers and sellers will win should lending standards ease, but the sellers win more. Work cited. https://www.federalreserve.gov/data/ sloos/sloos-202101.htm. https://mint.intuit.com/blog/mortgages/ what-to-know-about-mortgage-lendingstandards-easing-in-2021/.

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AI and Algorithms Reduce Lending Discrimination

The Power Of tech: 18

new report indicates that AI and algorithms reduce the chances of discrimination in lending. In both conscious and unconscious capacities, African Americans and other minorities in the country have suffered bigotry in a way, though not openly in some cases, it happens. What could the solution be: Colorblind application. With AI and algorithms, the human element is removed from the equation, which means a greater chance of fairness and equity. Could this be a step in the right direction? The report by Financial Services Innovation Coalition (FSIC) and Creative Investment Research titled Artificial Intelligence, and Algorithmic Lending Has the Potential to Reduce Discrimination in Mortgage Lending, looks at the emergence of non-bank lenders and their use of AI and algorithmic systems, the obstacles lenders face in generating bias-free

underwriting, and the way forward in eliminating discrimination in the process of buying a home. According to the report, AI and algorithmic systems eliminate most of the need for a human element in underwriting. By doing this, the potential for discrimination or bias against anybody drops.

The Power Is Now Magazine | JUNE 2021

The report concluded that although AI and algorithmic lending can potentially reduce racial discrimination in the lending and allocation of financial resources, “there are still many unanswered questions.” The report revealed that AI had already made notable progress in reducing bias in mortgage lending and believes that if managed properly, the technology “can be a strong force for good.” The report further argued that “while AI and algorithmic lending have proven effective in reducing discrimination, their full potential cannot be realized until the GSEs modify the qualifying factors for the conventional home loans they are willing to buy or insure.” Other studies. According to Harvard Business Review, the challenge of bias is an endemic one, affecting both financial services, start-ups, and incumbents alike. A 2018 study carried out at UC Berkeley revealed that although fintech algorithms charge minority borrowers 40% less on average than physical lenders, they still assign extra mortgage interest to borrowers who are members of protected classes. Regarding this, how can financial institutions adopting AI reverse past discrimination and foster a more inclusive economy? Did you even know that AI and algorithmic systems can be biased?

“The development and deployment of artificial intelligence and algorithmic lending systems, paired with the increase in lending from non-banks, can make significant progress in allowing disadvantaged populations – specifically Black Americans – obtain housing loans, a critical component to generational wealth,” said Kevin Kimble,

founder, and CEO of FSIC.

“For too long, Blacks and other minorities in the United States have been victimized by bias – both conscious and unconscious – in the lending sector. Color blind application of appropriate data, can help reverse this historical inequity.” www.tHEPOWERISNOW.com

According to the study, the key lies in “building AI-driven systems designed to encourage less historic accuracy but greater equity.” That means training and testing them “not merely on the loans or mortgages issued in the past, but instead on how the money should have been lent in a more equitable world.” The study further reveals that past discrimination that may exist in the AI systems can be eliminated by removing any bias from data before a model is built— for example, data that suggests one’s gender or ethnicity. The discrimination can also be eliminated by using an extra layer of defense to prevent bias or re-entry of any remaining traces of its effects. This can be done by regularizing an algorithm so that “it aims not just to fit historical data, but also to score well on some measure of fairness.” Besides correcting the data and regularizing the model, the study suggests that it’s best to go a step further and build an AI-driven adversary model to identify and correct any “protected-class bias in decisions made by the first model.” In this way, we can be sure to eliminate human biases and any past discrimination passed to the AI systems through historical data, and we can all have a chance to enjoy fair and just financial and mortgage services. Work cited. https://www.fsicoalition.org/wp-content/uploads/2021/03/FSIC-and-CIR-AI-andMortgage-Lending-White-Paper-March-2021.pdf. https://hbr.org/2020/11/ai-can-make-bank-loans-more-fair.

3 TOURS. 2 PURPLE HEARTS. 1 EVICTION NOTICE.

SCAN HERE FOR MORE INFO

When my landlord found out I had Post-Traumatic Stress Disorder (PTSD), I received an eviction notice. That’s when I called HUD for help. If you feel that you’ve been discriminated against because of a mental or emotional injury or disability, report it to HUD or your local fair housing center.

Visit hud.gov/fairhousing or call the HUD Hotline 1-800-669-9777 (English/Español) FAIR HOUSING IS YOUR RIGHT. USE IT!

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.

Select a VIP Agen Adrian Bates Los Angeles

Adriana Montes Florida

Ameer Elahee Fontana

Cornelius Jackson Irvine

Danon Burnside San Bernardino

Denise Matthis San Diego

Joe L. Fisher Richmond

Johnnie Morine Texas

Jenny Gonzalez Corona

Kamesha Keesee Corona

Kenneth Session Bay Area

Briana Frazier Los Angeles

Emerick A. Peace Maryland

Julius Cartwright Ohio

nt In your area Monica Hill Menifee

Norman Green San Francisco

Ruby Frazier Riverside

Sharon Bartlett Texas

Yvonne McFadden Arizona

Peggie Simmons Arizona

Robert Langston Fairfield

Steve Peterson Oakland

Success Money LA Area

What’s Good

Cash On Cash Return

In 2021 For Your Commercial InvestmenT

By Steve Peterson

This method is mainly used by commercial real estate investors and assesses the cash flow of the investor’s assets. Cash on cash return is an essential calculation of ROI (return of investment) that is not difficult to understand. Also, potential investors need to be up to date on the kind of return they expect to receive on an Investment. www.tHEPOWERISNOW.com

Calculating Cash on Cash Return A popular method of calculating Cash on cash return is the return on investment formula that was designed for cash on cash returns. Cash on cash return formula:

In calculating cash on cash return, the investor must calculate their NOI, or net operating income, which is also referred to as the annual pre-tax cash flow. This is the profit earned from leasing out a regular apartment after subtracting the total money spent on the rental property. During this, estimating is important because sometimes, exact figures cannot be known. The investors should not be careless and over-estimate as that could be a problem reflecting on the true figures. After that, the investor would have to divide their net operating income (NOI) by the total amount of money that was invested into l

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Definition of Cash on Cash Return: Before discussing the cash on cash return, we need to know what exactly the term is; Cash on Cash Return (CoC return) is known as the rate used to calculate the complete return of cash made from a real estate investment. In other words, it is a metric that calculates an investor’s gain or profits earned in a year on a particular property relating to the total mortgage that was paid off in the same year.

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that property. This amount includes but is not limited to the repairs made on the apartment, the down payment made, and the closing costs. The cash on cash return is the final amount displayed after these steps were followed through religiously and with care. Several investors have complained about the stress that comes with calculating their cash on cash returns manually. If you are one of them, another option was created – the cash on cash return calculator was designed for this purpose.

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Using the calculator is the quickest and most convenient method as it would ensure accurate values unlike the former that can be affected by human error. It also ensures that the investor receives the best return on any property invested in. What’s Good Cash On Cash Return In 2021 For Your Commercial Investment Properties? There are various factors to take into consideration when calculating the cash on cash return. Long Term leasing and short term both differ in values and figures even on the same market and property. A good cash return on investment in 2021 will be anything above 3% on long-term leasing. Normally, it ranges from 1.59%-8.17%, it all depends on the location of the property which is also a factor affecting returns. 3% is a good return because of these factors.

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Short-term leasing like Airbnb is quite different. The usual rates fall between 1.59%-8.17%, depending on location as well. Good cash on cash return would be above 4%. Now that everything has been simplified, investors should learn these factors and calculations before investing in any property.

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Arlington Metro May Housing Report 2021 By Johnnie Morine

Arlington County has fewer than 50 regional historic districts. Thirteen of them are singlefamily homes, and only ten are privately owned. One of the privately-owned historic houses recently went on the market for the first time in 25 years. The Eastman-Fenwick House is a Queen Anne-style Victorian frame house designed and built for Albert Prescott Eastman in 1876. Sally Prescott, his grandmother, left him the property. The house was called

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Everbloom by the Eastman family and was enrolled with the Virginia Historic Landmarks Commission in 1980. How Real Estate Market is for Buyers in Arlington Despite all of the great news about increasing real estate prices, a family earning the Greater Phoenix median income of $79,000 could only afford 62.8 percent of what was sold in the first quarter of 2021. The National Association of Home Builders reported that a family can afford to spend about 28 percent of its gross income on housing. That implies that 62.8 percent of homes sold cost their new owners $1,843 or less a month, supposing a 10% down payment covering principal, taxes, interest, and insurance.

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rlington real estate, like all real estate, is subject to the rule of supply and demand. The months of inventory is used to calculate demand. It takes about 2.5 months of inventory in Arlington for the market to be neutral.

According to HUD, $79,000 reflects a 26% rise in the local median annual income in the last five years, up from $62,500 in 2016. Although this is comforting, it does not alleviate the frustrations of searching for homes in this market. Last month, 56 percent of all deals closed above the asking price, with half of them going $15,000 or more above the asking price to win. In the last seven weeks, half of all MLS listings that fell under contract were only on the market for six days or less. However, in recent months, investors have seen a glimmer of hope as supply counts have stopped falling, and prices in the $500K-$800K range have risen by 40% since February. Supply is still 69 percent lower than this time last year, so it’s a long way from being considered regular, but it’s at least something.

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How Real Estate Market is for Sellers in Arlington You probably won’t notice, but the real estate market has started to cool. It’s still hot; but, even being cooler than 500 degrees, 400 degrees is still hot. Sellers should still expect several offers and closings above the asking price; however, it is necessary to note that supply has ceased to fall and has begun to rise in some price points above $500,000. Season to season, Greater Phoenix supply should 30

decrease rather than flatten or increase at this time of year. As interventions deviate from the norm, they may signal the start of a trend. This trend would be overlooked because supply remains significantly smaller than demand, making any small rise in competition insignificant to a seller’s ability to secure a buyer, perhaps one willing to pay more than the asking price. The number of list price drops, on the other hand, is one of the early signs that a market is shifting. For example, supply between $600,000 and $800,000 has increased 45 percent since late February; over the same period, the number of weekly price reductions increased 223 percent and reached its highest level in nearly six months. That is noteworthy. Price declines have stayed low and steady in other price points in which supply has flattened out. The advantage in every market, not just real estate, is being among the first to notice when things are changing. You can also watch the series on Facebook Live or our YouTube channel. Tune in today! References https://www.rentcafe.com/average-rent-market-trends/us/va/ arlington/ https://metrorealtyaz.com/arizona-real-estate-market-reportthis-month/

The Power Is Now Magazine | JUNE 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.

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EMERICK A. PEACE

#320004 240-882-0198 EmerickPeace@KW.com Your #1 Referral Source for Phenomenal Service in Washington, DC & Maryland

By Emerick Peace

These are the mistakes to avoid between loan approval and closing

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Mistake #1: Switching your job. You should avoid changing your job as much as possible for the period between loan approval and closing. This is simply because changing employers could result in delays due to the procedures involved, including employment and salary verifications. But don’t get me wrong, I do not mean that you should turn down an excellent once-in-a-lifetime career opportunity. But any optional moves should wait until the closing is done. Anything that can wait, let it wait to avoid further delaying your much-anticipated homeownership opportunity. Mistake #2: Making huge purchases. You’ve already been pre-approved for a mortgage and found a suitable home for you after weeks or months of hunting. At this point, it’s normal for the adrenaline to start kicking in and the daydreaming to take the course. In the middle of the anticipation, the imagination of personalizing the house begins, and you get into a ‘buying mode.’ Besides, you’re excited to have discovered your creditworthiness. You then think of making huge purchases of furniture, jewelry, a nicer car, or even a boat if you’re set to move to a location in the vicinity of a river or lake. l

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ou’ve spent years working hard and saving for a down payment, and finally, the American dream of homeownership is a step away from becoming a reality when you get pre-approved for a home loan. Is it time to celebrate yet? Not yet. In fact, you’re just getting into the most critical stages of the homebuying process. One wrong move and all your hard work, dedication, and sacrifices could wash down the drain. This is likely to happen since your lender will recheck your credit right before closing. Certain mistakes would lead them to question your creditworthiness. Let’s find out which ones so that you know what to avoid.

If you make such huge purchases, you’ll be making a lethal mistake. Remember, your debt-to-income ratio is a vital factor when being considered for a mortgage loan. Making any huge purchases at this point takes money or credit, while your mortgage approval was based on a certain criterion which could be your debt-to-income ratio, cash reserves, or assets. Altering those criteria in any way risks jeopardizing the closing and funding of your new home as you could exceed the ratio that’s acceptable by your mortgage lender. Mistake #3: Do not apply for any new credit accounts. Contemporary society is flooded with all sorts of credit opportunities. And let’s face it, the trend is quite tempting with all department stores trying to get you to apply for their credit card at check out while promising to give you discounts on your purchases. Similar to taking a new debt, applying for a new credit account in the period between preapproval and closing poses a risk of jeopardizing your mortgage approval process. Remember, your mortgage pre-approval was based on certain criteria, such as credit profile, and you don’t want to mess with it. Mistake #4: Changing your bank account. When applying for a mortgage loan, you’re required to provide a lot of documents such as income

documents, proof of employment, a list of assets, and most importantly, your bank statements before you’re pre-approved. Most lenders would want to see your bank statements for the last two months to verify whether you can afford the amount needed for a down payment and closing costs. Once you provide the lender with all the required documents and receive a pre-approval, the last thing you would want to do is alter any of the documents. This means that you should not change your bank account. If you do, you’ll have to go through the process all over again. That means you’d have to wait for another at least 60 days for seasoning. If you change your bank account after getting pre-approved, you could be getting yourself in trouble since your lender could require a new set of statements right before closing. To save you from all the trouble, avoid changing your bank account before and after getting a pre-approval at all costs. Save yourselves the trouble of being denied mortgage loans or delaying your mortgage approval by avoiding all the mistakes discussed above until you’re through with closing. Work cited. https://www.texasrealestate.com/members/posts/avoid-thesemistakes-between-loan-approval-and-closing/.

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Promote Your Listings Online Call me for more information Eric Lawrence Frazier MBA (714) 361-2105 eric.frazier@fbol.com www.thepowerisnow.com

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Why waiting to buy a home could cost your journey to homeownership in Florida By Adriana Montes

If you fall under these groups in Florida, it’s worth noting that waiting to buy a home comes at a cost, or what experts refer to as the cost of waiting to buy. If you want to determine whether the best time to buy a home in Florida is now or a year from now, you should first have answers to the following two questions: 99 What do you think will happen to home values in the future? Will they rise or fall? 99 What do you think will happen to mortgage rates in the future? Will they rise or drop? Let’s try to answer these questions. www.tHEPOWERISNOW.com

What will happen to home prices in the future? According to a May article by BuyAndSellSouthFLorida.com, the average of the most recent forecasts from the major market watchers indicate that home prices will increase by 7.7%. Let’s look at a practical example of what this means. A house valued at $325,000 today, where the buyer makes a 10% down payment ($32,500), they’ll end up with a mortgage worth $292,500. Considering the projected rate of appreciation, the same house will cost $350,025 a year from now. And with a 10% down ($35,003), the buyer will end up borrowing $315,022 in a mortgage. This implies that a potential buyer will have to put down an excess of $2,503 alongside having borrowed an additional $22,523 just for sitting on the fence for one year. What will happen to mortgage rates in the future? As of this writing, mortgage rates were hovering around 3%. This is after experiencing historical low mortgage rates for the better part of l

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re you having a dilemma of whether to buy a home now or buy it next year or in the next few years? Well, it’s somewhat normal to experience the dilemma since odds don’t always align, and many people sit on the fence for quite some time until it’s too late. This situation is most common among two groups of people in Florida; the first are renters looking to become homeowners but are not sure of the best time to do it. The second group consists of homeowners who are just finding out their current home is no longer suitable to their changing needs.

2020. However, according to most experts, the mortgage rates will rise as the economic recovery continues this year. It’s apparent that any increase in mortgage rates will automatically increase the costs of buying a home. Projections for the first quarter of 2022 from the leading mortgage entities show that mortgage rates will reach 3.5% (Freddie Mac, Fannie Mae, and NAR) and 3.9% (MBA). These forecasts indicate an average of 3.6%, representing a jump from where they are currently. Nonetheless, let’s not even go to the extent of looking at what is likely to happen to mortgage rates in the future. What we have already experienced is enough to teach us a good lesson. For the better part of last year, mortgage rates were floating below 3%, with rapid falls every now and then. A few months into 2021, the rates have already shot above 3% and are still on the rise. Those who were indecisive on whether or not to buy a home in 2020 slightly missed the golden opportunity. And those still delaying in 2021 are 40

likely to face great discouragement when both interest rates and home values shoot higher. This only means one thing, the time to buy is now. If you missed your chance in 2020, don’t let the same happen in 2021. This goes to all Floridians and every other American who is wondering the best time to buy a home. Buy now to avoid the cost of waiting to buy a home.

Work cited. https://www.buyandsellsouthflorida.com/blog/why-waiting-tobuy-a-home-could-cost-you-a-small-fortune/.

The Power Is Now Magazine | JUNE 2021

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*The Annual Percentage Rate (APR) is a variable rate based upon an index and a margin. The APR will vary with the Prime Rate (the index) as published in the Wall Street Journal. The variable rate APR will range from Prime + 0% to Prime + .425%, depending on the applicant’s credit score. This variable rate is based on auto-debit of payments from a First Bank checking account. If not auto-debiting payments from a First Bank checking account, add .75% to the rate. The APR may increase or decrease but will not exceed 18% nor will fall below 4.25% except during the 12 month promotional period. During the promotional period the rate will be based on applicant’s credit score with either Prime - 0.26% or Prime + 0.34% and both promotional rates requires auto-debit of payments from a First Bank checking account. As of September 1st, 2020, the APR ranges from 4.25% to 4.425% and the promotional rate is 2.99% or 3.59%. Rates are subject to change. This promotional rate is available only for consumer checking account clients of First Bank who do not have a HELOC with First Bank as of August 31st, 2020. Offer available for applications accepted during September 1st – September 30th 2020. No closing costs on lines up to $1,000,000 for standard documentation; third-party fees to be paid by borrower for loans over $1,000,000. Member FDIC

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Here are some home renovations that will give you the greatest returns By Yvonne McFadden Are you about to renovate your home and looking for the one that will give you the greatest returns? Here is what you need to do to achieve that.

Consider your return When your time is up for the work, then you need to consider if you’re going to www.thepinmagazine.com

recoup the money spent on the renovation. Most people do not consider this. While you need to spend the right amount of money, you also need to spend it in the right way. This is true for both construction materials and building tools. Make sure you invest in quality as you are not only about to invest in your home but also in yourself. This brings us to the issue of value. Most people don’t invest in quality as they are

more concerned about what their house looks like than its longevity. kitchen renovation A kitchen is the heart of your home, where family and friends gather. Investing in a new kitchen gives you the opportunity to add your personal touch. There are countless ways you can make your kitchen to your taste. You can opt for a luxury benchtop or marble top, remove

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Work with your budget You may have a budget in mind, but sometimes you can’t afford that. If that’s the case, plan your renovation within your budget. When you work within your budget, you can ensure you will complete the renovation in no time without the need to overspend.

Bathroom renovation Home remodeling projects like bathroom renovations have a big impact on your home’s value. Maybe you’re going to increase the size of your space to give it an updated look, and with the right design and selection of materials, it can mean big profits. The ROI for this is about 70% Basement renovation Remodeling your basement is a must, especially if you’re a homeowner that has a basement. If you don’t have one, that could be a huge mistake, as it makes the most sense to have a basement. A basement will give you room to store all of your items in one area. So if you have been considering a basement remodeling project, now is the time to consider it. Living room renovation

This is one of the most important rooms in a house as this is where most of the activities and entertaining take place. You may want to renovate your living room to improve its look so that you can welcome your guests into it. Some of the things you need to think about are the window blinds, ceiling fans, and especially the rug that you are going to buy for the room. You need to buy it in a fashion that is going to add to the charm of the room. The rug is going to define the look of your living room. Also, the chairs and walls are not to be left out. The ROI for this is around 61% to 72%. Conclusion Renovating your home can be the best thing you will ever do to your home. When you renovate your home, not only are you making it more attractive, but you can also get the maximum value for the house. You can also watch this just concluded series on Facebook Live or our YouTube channel. Tune in today!

References https://www.homewyse.com/projects/ remodel_living_room.html https://www.daltile.com/trend-hub/chipstips/top-3-bathroom-remodels-for-best-roi https://www.ramseysolutions.com/realestate/how-will-a-kitchen-renovationaffect-value

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cupboard doors and replace them with glass or white frames. If you don’t like the current layout of your kitchen, then do some demolition and create a layout of your dreams. You can install a granite countertop, introduce more cupboards to increase your storage space, and get an electric cooker. A well-designed kitchen is easy on the pocket and it doesn’t need to be a costly renovation. You can start by replacing old lights with energy-saving lights if you want to make your kitchen look more modern. The ROI for this is about 54%

The Power Is Now Magazine | JUNE 2021

By Peggie Simmons

How to Find Profitable Homes for Investment in Arizona

In the last few years, the housing market has been improving significantly. The number of homes sold and median sale prices are rising. And this year is expected to continue with that trend. All this is excellent news for investors looking for profitable homes for investment in Arizona. Of course, there are some risks involved with this kind of business, but a good knowledge of what you are doing and www.tHEPOWERISNOW.com

proper planning can help you minimize those risks and maximize your profits. As you look for profitable homes for investment in Arizona, remember that the costs of any improvements and repairs should be met through the sale price of the property. To ensure your ability to resell quickly and at a fantastic price, avoid doing anything to a property that would make it difficult to resell later. Potential buyers generally prefer properties in move-in condition, but repairs need to be done carefully so as not to take away from the property’s value. 123rf.com

roperty investment is a great way to make money, but it can be tricky to find profitable homes for investment in Arizona. A few factors that determine profit potential are the cost of the home and its location, as well as whether it needs certain repairs or upgrades and how much those will cost.

A good way to get started on the search for profitable homes for investment in Arizona is to l

look at the foreclosure listings. As you know, many properties go into foreclosure due to the owners’ excessive financial obligations. Foreclosure can often be a great opportunity for investors, as long as they have the necessary capital and skills to make a profit from the sale of foreclosed homes. Take a look around and find out where foreclosures are most common in your area. Real Estate Agents & Brokers In Arizona A Real Estate Agent in Arizona can help you understand the Arizona real estate market better. They’ll explain to you the kind of properties that are available, including foreclosures, bank-owned properties, and those that are just listed in the MLS. As with any property, there should be a buy-sell agreement in place so you can get quality assurance and a clear understanding of what’s included. Factors to consider Here are some things you should consider when looking for investment homes and why they are important:

2. Income Potential The aim of investing in a house is to make a profit, so if you’re investing, you need to surely look at the income potential. You’re either investing to resell or rent it out. If you are investing to rent out, always make sure that the amount of income that’ll be generated from rent is higher than the cost of owning and maintaining the property over a certain period. This can also help in determining if it’s worth buying a particular property or not. 3. Property Market - The location where the property is located can have an impact on the demand for houses. In this case, we are looking at Arizona, and it’s undoubtedly a great place to invest. Research the demographic data of neighboring areas as well as their overall economic conditions before deciding on a location.

Cost of homes in Arizona According to SmartAsset, the cost of buying a home in Phoenix, Arizona is an average of $230,493, while the average is $162,494 in Tucson. Average Homeowners Insurance in Arizona: The average homeowners’ insurance policy costs $1,524 per year. You can also watch the series on Facebook Live or our YouTube channel. Tune in today!

References https://smartasset.com/mortgage/the-cost-ofliving-in-arizona https://www.valuepenguin.com/best-cheaphomeowners-insurance-arizona

1. Property Costs The total cost of purchasing, renovating, and maintaining a residential home is the first thing you should look out for.

The Power Is Now Magazine | JUNE 2021

By Kamesha Keesee

These home renovations will give you you greatest return for your investment We’re not all in the world of carefully budgeting and calculating with spreadsheets to put ourselves on a realistic home renovation schedule. Some people are driven by their own style, tastes, and habits, and don’t care if it’s not a financially sound decision. Their reasoning is: “I’m doing this for me”. There are also those who want to get more value out of their homes once they’ve renovated them. In either case, the rule of thumb is to not spend more than you’ll get out of it in return. We did research to find out what remodeling projects will give you the greatest return for your investment, and here they are.

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and a comfortable look. Selecting quality leather furniture for your living room will deliver a higher return on investment than a fabric sofa because of its durability, eliminating the need for frequent repairs or replacements. You can expect to see a return on investment of between 61% and 72%.

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Living Room The living room is the most important room in any home. This is the first impression that friends and family get when they come to visit. Designer upgrades to your living room sofa, love seat, coffee table, and side tables can give your home a more luxurious feel

If you’re renovating for yourself, it goes without saying that a kitchen would be the obvious choice. Don’t expect to recover the 100% ROI of your kitchen remodel though. You can only get about 54%, based on how much kitchens typically increase in value when selling. If this doesn’t bother you and you want a new kitchen, make sure it fits your personality and style. Bathrooms The next big project is your bathroom, hands down. Adding luxury upgrades to your bathroom will not only make it more beautiful but also more functional, with new countertops, tile, and a series of other upgrade options.

Closets Shelving in your closet is an obvious choice for projects that will give you the best return on investment. You won’t need additional accessories to fill up your new shelves and drawers. You’ll see a 53% return on investment when you replace your outdated closet fixtures with designer shelving units. Start Simple One of the most important things when it comes to renovations is that they need to be done right. They also take a considerable amount of time because they involve planning and design. Prioritize what you really want to do, since it could be worth it then for you to just rush. Take your time, start simple, then gradually progress. You can also watch the series on Facebook Live or our YouTube channel. Tune in today! References https://www.homewyse.com/projects/remodel_living_room.html https://www.daltile.com/trend-hub/chips-tips/top-3-bathroom-remodels-for-bestroi https://www.ramseysolutions.com/real-estate/how-will-a-kitchen-renovationaffect-value https://closetsforlife.com/will-a-custom-closet-system-increase-your-homes-resalevalue/

Daltile projects a 70% return on investment for bathrooms, but again it depends on your situation. The rule of thumb is to budget about $3,400 for a mid-range basic remodel (countertops and floors), and the cost per square foot increases from there with custom tiles and fixtures.

The Power Is Now Magazine | JUNE 2021

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Kitchens The kitchen is the heart of your home, where family and friends gather for big meals and small talk during the holiday season. A basic kitchen remodel will include new cabinets, countertops, sinks, and appliances. Your return is a higher home value, and this is true whether you’re selling or staying.

By Ameer Elahee

12 best places to buy property in Rancho Cucamonga

ooking to buy an apartment in Rancho Cucamonga, California? You should probably check out these 12 best places to make your purchase.

12. The Rancho Cucamonga Town center Located in the heart of the city itself, the Town Center boasts of some of the best houses around, hosting a high percentage of the city’s over 170,000 people. 11. Rancho Cucamonga city Just like every other city, this is where you’d find the commercial hub of Rancho Cucamonga and mingle with the business elites of the Californian city.

9. Sierra Vista With lots of family homes built with love and care in mind, www.tHEPOWERISNOW.com

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10. Victoria Gardens The Victoria Gardens store opens daily and closes at 7 pm for those who like to do their shopping without much stress involved. Very close to Los Angeles, the lifestyle center is quite open-air and accommodating.

you’re sure to get the best kind of homes for your family around Sierra Vista. Sierra Vista seems to be a perfect location for families looking to improve their relationships. 8. The Glen Ivy Hot Springs Glen Ivy possesses all the fun spots for active and youthful people looking for fun and adventure. With spas, pools, parks, and more scattered all over the area, you never miss out on the fun side of life. The parks are especially great for children as they get to experience the best time of their lives while making new friends around the neighborhood.

homes with modern facilities available for use. The area has houses listed for their convenience and amazing architectural designs. 5. The Etiwanda Area Formerly a group of unincorporated communities, Etiwanda houses some of the wealthiest families of Rancho Cucamonga. So, you know what to look for when trying to get a home with taste and class.

7. The Lake Arrowhead Village area When you think of resorts and mountain homes, Lake Arrowhead is the best place to be. Its amazing mountains give you a view of the world from a different angle.

4. Rancho Cucamonga Hills, aka the “Riviera” of Rancho Cucamonga The hillsides of Rancho Cucamonga are best for holidays for anyone looking for fun. The Red Hill Park, a tourist attraction center, brings in hundreds of faces each year so you can always make a new friend. You can also take the family on picnics, so there’s that chance to create amazing family photos for the album.

6. The San Antonio Heights area The census area of Rancho Cucamonga, San Antonio, houses some of the best

3. Devore Homes and Ghost Town in Devore Debora Heights and Ghost Town are amazing places in Rancho Cucamonga that

anyone can choose to live in. Peaceful, awesome, and amazingly crafted for homes with the best kinds of styles. 2&1. Highland Homes Highland homes make the top of the list for their vintage-style buildings and architectures. They are expressly built for those who love to live the good life. You can also watch the series on Facebook Live or our YouTube channel. Tune in today!

REFERENCES https://www.neighborhoods.com/ vintage-highlands-rancho-cucamonga-ca https://www.zillow.com/devore-sanbernardino-ca/ https://en.m.wikipedia.org/wiki/Rancho_ Cucamonga,_California

The Power Is Now Magazine | JUNE 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

First Time Buyer Guide: 10 house-hunting mistakes for first-time homebuyers

House hunting can be very serious and exhausting at the same time. More often than not, buyers who are in the market for the first time have issues deciding what to do and not to do while trying to get the house they desire. Here are some common mistakes made by new homebuyers and how to avoid them. 1. Too little down payment The 20% rule for a mortgage is a law nearly everyone knows about. Yet, only a small percentage of people really pay up to 20% on their first mortgage. This error, as little as I may seem, has caused lots of people to lose out on their mortgages as they couldn’t afford to make the right payments.

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2. Only one lender The options are limitless and still, people go for one option. Maybe this may be due to the fact that they obviously cannot keep up the stress of having to fill out paperwork or asking and reasking questions. Still, homebuyers should always make sure they have options when buying.

3. Credit score? Ignored No matter what, ignoring your credit score while buying a home or making a mortgage payment is the worst decision you can ever make. Your finances are important. Stay updated.

8. Mortgage not preapproved If your mortgage has not been approved and you venture into house hunting, you may get one that’s too much or too little for your mortgage payment power.

4. Too little, too big Most times, homebuyers discover too late that the house is either too big or too small for their needs. When this happens, they are faced with the problem of creating space or filling up excess spaces.

9. Ignoring monthly payment The deadliest mistake here is to ignore payment dates. You’ll be out on the street in no time if you do this. As a matter of fact, you must always be up to date about your mortgage plan, changes, and payment schedule.

5. Adjustable and not fixed mortgages Adjustable mortgages are usually based on market indexes. They may appear low for the first few years but a sudden leap in the market will automatically increase your mortgage. This is unlike a fixed mortgage where the interest is just what it is: fixed. 6. Misinformation Knowledge is power and information is key. When you talk to the wrong people about buying a home or taking a mortgage, be sure that you just set yourself up for an epic fail. 7. Choosy Some homebuyers are very picky when hunting. They either don’t like this or want this or want that and in the long run, settle for the worst kind of house available on the market. The deepest regret comes later when they discover that they had actually settled for less while thinking they had the best.

10. No knowledge about how much to afford You should always be aware of what you can do with your credit score. Don’t take a mortgage that you can never ever afford to pay off. You can also watch the series on Facebook Live or our YouTube channel. Tune in today! REFERENCES Michaels R. Personal Finance Contributor; interest.com https://www.interest.com/ mortgage/10-first-timehomebuyer-mistakes/ https://www. familyhandyman.com/ list/house-hunting-andhome-buying-mistakesyou-can-easily-avoid/

The Power Is Now Magazine | JUNE 2021

They told us to “Live someplace else.”

We have rights. We called HUD.

SCAN HERE FOR MORE INFO

We found a three-bedroom apartment we loved in a great neighborhood with good schools and a beautiful park. But the landlord told us to live someplace else that would be better for our family. We filed a complaint with HUD, and now we have a wonderful place to live.

Here are some telltale signs of housing discrimination against families with children:

• • • •

Allowing only one child per bedroom Charging a higher security deposit for families with kids Limiting families with children to the first floor or certain buildings Refusing to rent to families with children

Fair Housing Is Your Right. Use It. Visit www.hud.gov/fairhousing or call the HUD Hotline 1-800-669-9777 (English/Español) 1-800-927-9275 (TTY)

tproperties.com www.prominen

MEET

CHARLIE OPPLER

arlie Simon Oppler was born in 1958 in a small upstate New York town of Sidney. His family would later move, to join his father, who was at the time serving as a marine at the Camp Lejeune base in Jacksonville, N.C. When he was four, his family moved to Ridgefield, and part of the reason for this move was because his mother’s brother was already living there. The

young family settled there with his father taking a job at a local office of B’nai B’rith, a Jewish service organization, while his mother worked in the office of a nearby Faberge perfume plant. When asked, Charlie simply remarked, “I had everything I needed.” In 1980, after graduating with a degree in communications from the Trenton State, now the

College of New Jersey, Charlie encountered one of his lifealtering moments while working at his first job with the March of Dimes. “One of my first projects was organizing a sports awards dinner,” he says. “I recruited [New Jersey] brokers Joe Murphy and Dick Schlott to co-chair the dinner, which raised $50,000 and was successful enough to become a regular annual event.” The duo would later grow to

The Power Is Now Magazine | JUNE 2021

become lifelong mentors and advisors to the young Charlie and they recruited him into real estate in 1981. Charlie first went to work for Murphy Realty Better Homes and Gardens, attracted initially by the prospects of making $25,000 a year as his mentor suggested and this would have doubled his earnings at the time. However, they never told him that the cash would come from his sales commissions. But, he exceeded that by making $26,000 in his first year. “I had no perspective, and I still think I got lucky.” between the years 1984 to 1989, Charlie worked as a Branch Manager for Schlott. Charlie was drawn into the industry because he felt a strong passion for helping people become property owners and soon enough, that passion turned personal. In 1983, when Charlie was just 24, he bought his first home at $90,000. He describes the feeling as “surreal.” “I had never lived in a house before. Something as simple as coming home to a private place was a new experience.” His experience with homeownership clarified the important role that REALTORS® plays in people’s lives. He affirms that “I’m proud to be a REALTOR®.” “We make a tangible difference in communities and people’s lives.” www.tHEPOWERISNOW.com

Charlie was inaugurated as the 2021 President of the National Association Realtors and as his presidency begins, Charlie focuses on the reinforcement of the importance of maintaining perspective in a year in which business is strong for many real estate stakeholders and practitioners but still fraught with uncertainties and losses for a lot of members and consumers. Each of us has struggled with something. Each of us has lost something—in some cases, the people closest to us. But we’ve persevered,” he said during his inaugural address at the virtual REALTORS® Conference & Expo in November.

“We will work collaboratively and cooperatively to advance the issues that benefit all members and consumers.” A New Focus To Community Development One of Oppler’s priorities as the 2021 NAR President is focusing on developing and aiding communities and also providing support for the commercial members, who have been especially hit hard by the economic downturn as a result of the Pandemic. Charlie employs an empathy-driven approach that is driven by personal experience and, including the repercussion of the 9/11 terrorist attacks. During the attacks, Randy Ketive, Charlie’s business partner since 1992 was with him on that horrific day.

“Charlie and I met at 8 a.m. that morning at our office in Fort Lee, which had a view of the Hudson River,” Ketive says. “We could almost see it happening from our window. We had several days of just being numb. There’s no other way to describe it when you lived in the bowels of what happened.” l

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Interestingly, this Fall also marks the 20th anniversary of REALTORS® Relief Foundation which was created following the attacks to provide homeowners with housing relief. The relief fund has raised more than $8 million dollars to help the families of 9/11 victims to stay in their homes. In September, Oppler will oversee a telethon to bolster the relief foundation’s ability to deal with the growing need for emergency relief. Over 20 years, the foundation has been able to raise a total of $34 million for the victims of disasters, including floods, hurricanes, tornadoes, and wildfires. September’s telethon will make sure that the REALTORS®’ philanthropic efforts remain prepared and funded. One of the things he targeted for the first quarter of 2021 was the launch of a mentorship program, which pairs members with high school and college students of diverse backgrounds who are interested in real estate. The initiative “will expand our REALTOR® family by bringing in new talent and diverse voices.” 66

In addition to that, to reinvigorate the commercial real estate market and to generate support to the commercial real estate practitioners, Charlie has been working hard to launch a new event dubbed the C5 Summit which has been scheduled for September as an in-person networking and educational gathering in New York City. The 5C stands for; Commercial, Connection, Commerce, Capital, and Community.

“We’ll invite top commercial brokers, economic development teams, REIT representatives, developers, and state and local associations to work together to secure business opportunities for their clients that are critical to keeping our economy moving,” he says. All these initiatives are meant to provide strategic priorities that will receive a lot of

association attention in the year ahead. These include expanding housing equality and affordability, championing REALTORS® as consumers’ best source of information on real estate transactions, enhancing member engagement and member experience, and driving community development. One Together “[Oppler’s] slogan ‘One Together’ was [a result of] us sitting in a room trying to figure out how we encapsulate who he is. This was back in 2017 when he decided to run,” says Jarrod Grasso, CEO of the New Jersey Association of REALTORS®. And its message is just as relevant today. “It’s never been about Charlie Oppler; it’s about what’s for the greater good for the organization,” says Grasso. “It really encapsulates what he believes in, that it’s not the one individual. It’s not just the leadership team. It’s all of us working together. I think that’s who he is.”

The Power Is Now Magazine | JUNE 2021

Oppler’s journey in the ranks of NAR leadership has come from far. He was first elected the president of the Eastern Bergen Board of REALTORS® in 1996. In 2004, he became the president of the New Jersey Association of REALTORS®. Charlies McMillan, the 2009 NAR president gave Oppler his first national committee chairmanship on RPAC Trustees Committee; and two years later, the 2011 Ron Phipps named Charlie as a committee liaison.

However, he burns with passion for his family. He and his wife Geri have two sons and two daughters. Today, Geri helps Charlie as needed with the business. His older son Michael runs the company as Chief Operating Officer. His Daughter Jacky is a social worker and lives in Rhode Island, while Karli works in human resources in New York. his youngest son, Jason is a college student at the James Madison University in Virginia.

For the NAR’s two appointed leadership positions, Charlie picked leaders who he says are well suited to help him navigate REALTORS® through these trying times. Broker-owner and coach Leigh Brown, CIPS, CRS, of Concord, N.C., is vice president of advocacy, while Tommy Choi, a broker with three offices in Chicago, is vice president of association affairs. “I wanted a team that reflected the diversity and the future of the organization. Charlie says that these two are the most respected and talented people he has met.

Charlie admits that he had initially hesitated to seek the role of first vice president for NAR years back, concerned by how much it would take him away from his family. “I wrestled with it, mainly because of Jason,” who was in high school during the campaign, he says.

His Love For Family Charlie is a big fan of sports and real estate.

https://magazine.realtor/news-and-commentary/feature/ article/2021/01/big-heart-big-dreams https://www.nar.realtor/charlie-oppler#section-02 http://www.realestateindepth.com/web-exclusive/fivequestions-with-nar-president-charlie-oppler/ https://www.nar.realtor/sites/default/files/documents/opplercharles-2019-bio-11-12-2018.pdf

By Cornelius Jackson

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e’ve all heard some very common investment stories from family, friends, and even celebrities that say real estate investments are easy to make. But what if you’re not an expert? What if you don’t have a lot of extra money to throw around? What if the person telling the story has no evidence and doesn’t really know what they’re talking about? It might be time for us all to let go of this idea that real estate is an easy get-rich-quick scheme. Not only is it bad advice, but it can also be really dangerous. So, let’s look at the top five myths about real estate for the people who are not real estate experts. 1. It’s a magic bullet When people start talking about making money in real estate, they almost always say something like, “I bought for $50,000 and flipped it for $100,000.” What they’re not telling you is that there were a lot of expenses involved in this deal too. The person might have put in $10,000 or even $20,000 of their own money just to pay the expenses on the deal. Most people don’t want to share that part of the story because they’re trying to make you think real estate is some sort of get-rich-quick scheme that gives you instant wealth.

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Debunking Real Estate Investment Myth in Irvine: Irvine is too expensive for me

2. It’s all about location Another common myth is that if you find a “hot” market with lots of demand and good appreciation rates, you’ll be able to make a bundle off your real estate investment. But what they don’t tell you is that there are a lot of things that can make the process more expensive. Demands for housing can be high in some markets and low in others. You may need to pay a little extra to find a good flipping location (see point above). Not every market is stable enough to let you make consistent money over time. 3. It is passive income Making money in real estate is a pain. It’s not quite as passive as people often believe. You’ll need to make decisions on how to better the property and actively manage it if you want your business to succeed. 4. It is easy There’s a lot more to real estate investing than simply buying and selling properties or paying the rent every month. There are terms you need to know, taxes that have to be calculated, different strategies you can use, and more. 5. You need lots of money This isn’t totally true. When it comes to real estate investing, you can find properties that are quite cheap and some that are quite expensive. Even if you are interested in a property that’s out of your budget, you can find a partner with who you’ll share the cost of the property. Besides, you can also have a wholesaler for who you can sell a

house and get a commission without any investment from your end. All you need to do is just looking for someone that’ll be interested in the property. Conclusion Investing in a home is a process that takes time and requires a lot of work. There’s a high tendency of you falling for any of these myths, especially if you do not have experience. Once you have experience, you will be able to see through the hype. You can then determine if a particular myth is true or not. Keep on learning and growing, and your dream of becoming a real estate investor will become a reality. You can also watch the series on Facebook Live or our YouTube channel. Tune in today!

References https://cplinvestments.com/the-5-biggest-myths-of-real-estateinvesting-debunked/ https://www.fool.com/millionacres/real-estate-investing/ articles/5-real-estate-investing-myths-debunked/ https://www.gobankingrates.com/investing/real-estate/ common-real-estate-myths/

The Power Is Now Magazine | JUNE 2021

2021

By Jenny Gonzalez

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Top 10 neighborhoods for investing in Corona real estate market We are in the pandemic as a result of the coronavirus outbreak. Since the outbreak, the real estate industry has evolved, and investing in real estate now requires more. If you want to invest in real estate during the pandemic, where are the best neighborhoods to do so? Here is what Jenny Gonzalez has for you that will help you in your quest.

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Why invest in real estate? Real estate investment can provide long-term wealth. Many brokers and financial advisors believe that investing in real estate can provide wealth that is permanent. Real estate investing has transformed into so many different kinds of ways. Some people invest in real estate as a source of income to renovate it and rent it out. Others choose to use real estate as a way to resell it. The recent ‘quarantine’ was a wake-up call. It is a wake-up call to the investors. Now let’s head over to the list of top 10 neighborhoods for real estate investment right now.

TOP 10 NEIGHBOURHOODS FOR INVESTING IN REAL ESTATE IN 2021 1. Las Vegas, Nevada: Being the most populous city in its state, Las Vegas boasts of ever-increasing rent. The “no tax” law is a factor in the development of the economic growth of the state. The economy is diverse as there are multiple commercial interests such as tourism, gaming, etc.

7. Ocala, Florida: For the past years, the real estate market in this city has appreciated inviting more investors yearly with the increase in economic and population growth.

2. Dallas, Texas: The cost of living in Dallas is one of the most affordable in the country which has increased the job growth as taxes for businesses and employees are lower. This continuously attracts more companies and individuals to the city. 3. Cincinnati, Ohio: Several Fortune 500 and Fortune 1000 companies are resident in the state. This led to an increase in the employment rate of the state, and constantly enticing people to relocate there. 4. Tampa Bay, Florida: Another location of Fortune 500 companies, Tampa Bay is one of the places with incredible potential. The real estate market would skyrocket in the coming years. 5. Seattle, Washington: Research shows that Seattle is among the best places to invest in real estate because a good number of people move to the city every year. It has some of the best public school systems in the country. 6. Denver, Colorado: Always receiving a high ranking as one of the most comfortable places to live, Denver entices more people each year as it possesses some of the lowest mortgage rates. 74

8. Birmingham, Alabama: This city is an untapped market. The economic diversity is not just winning over investors, the affordability of real estate also is. More students move there every year because of the universities and colleges situated there. 9. Colorado Springs, Colorado: This is also a constantly appreciating location. Tanked as a top city to move to, the returns in investments are tantalizing. 10. Chicago, Illinois: Chicago is one of the best cities to move to in the United States. The increasing rents are caused by the number of companies based there. Real estate is always a good choice to invest in because there is always demand for houses to live in. It is also a great income stream as the returns are more constant than other investments. In these areas, it is even better because these are hot locations with amazing standards of living and jobs. You can also watch the series on Facebook Live or our YouTube channel. Tune in today!

https://www.fortunebuilders.com/best-rentalproperty-markets/ https://www.noradarealestate.com/blog/bestplaces-to-invest-in-real-estate/ https://learn.roofstock.com/blog/best-cities-toinvest-in-real-estate

The Power Is Now Magazine | JUNE 2021

By Danon Burnside

You can buy your property without a realtor, But I warn you against it!

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ell, buying your home is one of the biggest decisions you’ll make in your life. It’s a big undertaking and requires a lot of knowledge and expertise-especially if you’re not familiar with the terminology or hidden pitfalls involved. And if you’re buying as an investment, it gets even more complicated. A small mistake can cost thousands of dollars, not to mention your peace of mind. A real estate agent is trained in the various rules and regulations involved. And they have access to a lender who can provide options appropriate to your budget. They are an important resource you must utilize for an informed decision! There is no real shame in having a real estate agent get you a property. In fact, most agents are more than happy to assist you in making the decision to buy a home. You should only use real estate agents that are trustworthy and knowledgeable. Time One of the best reasons not to buy a house without a realtor is the time factor. You do not have to waste your time driving around. You will be able to get an idea of what houses look like before you visit them so you can make an informed decision. Some real estate agents will even come and show you the houses they are selling. If you do not feel comfortable driving around in a strange neighborhood, then this may be the best option for you.

Ease Another reason not to buy a house without a realtor is that it will make things easier for you. A real estate professional will help guide you through the process. They will help you figure out what you are willing to spend, where you are going to spend it, and what you want in your house. They can even make the purchase and help you arrange to finance it. However, you will still have to do some work yourself.

Getting the best price One other disadvantage to buying a house without a realtor is that you may not get the best price. This is especially true if you don’t have a lot of experience buying properties. You also may not know how much you should ask for the property. A realtor can help you determine what the asking price should be based on the location and some other factors The most important thing you

should do before you even meet with your realtor is to determine your budget. Once you’ve set a budget, don’t allow yourself to go over it. If you feel you need to, talk to a financial advisor or your realtor. They can help guide you to a more affordable home. After you have set a budget, you can proceed to look at homes in the area. Call the agents in that area and schedule an appointment to view a property. Bring a friend or family member so you can ask questions without feeling awkward. Most realtors are more than willing to answer any questions you might have. Conclusion So if you decide that you want to use a realtor to help you buy a house, you need to make sure you find one who is trustworthy and knowledgeable. Look for someone you can trust who can really help you with all of your needs. Make sure they are licensed and bonded. Ask for references and check them out. Then you’ll be ready to make a decision. You can also watch the series on Facebook Live or our YouTube channel. Tune in today!

The Power Is Now Magazine | JUNE 2021

Diversity is working. Shouldn’t it also be living?

Your workplace thrives on diversity, so why shouldn’t your neighborhood? Diversity expands horizons, promotes understanding, prepares our kids. It promises us all a richer life. To better understand how neighborhood diversity will benefit you and your family, please log onto www.ARicherLife.org.

Celebrating the 40th Anniversary of the Fair Housing Act

By Denise Matthis

The State of Black Housing in Oakland For many black Californians, Oakland’s housing crisis is nothing new. Institutional racism in government policy and the residential housing market has long made finding a clean, secure, and affordable home in California more difficult for the state’s 2.2 million black residents than white residents.

he aftermath of New Deal-era redlining, which considered black communities unsuitable for federally subsidized mortgages, is clearly evident not just where black Californians now live but also where gentrification and displacement tensions are most acute in the state. Article 34, a still-unrepealed provision of the state Constitution that mandates local referendums before lower-income housing can be constructed in a California city, has kept affordable housing out of wealthy, predominantly white neighborhoods for decades. Article 34 Californians voted in 1950 to include a clause in the state Constitution that makes it more difficult for disadvantaged people to find housing. Article 34, which is still in force, requires voter approval before constructing public housing in a community. When it was passed, the real estate industry claimed that taxpayers should have a say in low-income housing developments as they were publicly funded projects like roads or schools.

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For decades, the law thwarted low-income home development in California, including the abandonment of public housing in Los Angeles’ Chavez Ravine neighborhood in favor of the construction of Dodger Stadium. Article 34 has hampered attempts to integrate suburban communities throughout the state. It resulted in a landmark U.S. Supreme Court case that allowed government policies that discriminate against disadvantaged people to be enforced nationally. Over-Represented in Homeless Counts In comparison to other states, California has a comparatively small black population. Although non-Hispanic black residents account for more than 10% of the population in densely populated areas such as New York and Texas, they account for just around 5.5 percent of Californians, a proportion comparable to the black populations of Kansas and Wisconsin. However, almost 30 percent of the more than 150,000 Californians homeless on any given night are black people. Like Marin County and San Francisco, several Bay Area districts have among the highest rates of homeless blacks in the country. No other major California ethnic group outnumbers black people in the state’s homeless population. Black Households Pushed to Suburbs Not only are more wealthy, youthful, white Californians relocating into recently redeveloped downtown areas, driving down segregation rates. Rapid increases in housing 82

prices have pushed many black tenants out of larger coastal communities and into old, previously mainly white suburbs over the last few decades. While black populations in major cities such as Oakland and Los Angeles have declined, black families have increased in farflung suburbs such as Palmdale in Antioch and Southern California in the Bay Area. Ground Zero for Displacement In the 1940s, Oakland was a pivotal destination for Black Families migrating from the south; in the 1950s, it was home to a “Harlem of the West” blues and jazz scene; in the 1960s, it was the cradle of the Black Panther Party. The region’s extreme housing crisis is the greatest threat to working-class black families who have survived decades of racist policies. Oakland has one of the rapidly increasing in the country, owing to the nation’s most expensive real estate in San Francisco and the closeby Silicon Valley tech boom. While black residents comprised nearly half of Oakland’s population in 1980, that figure had fallen to 28 percent by 2010 and, if current trends persist, could fall to 16 percent within the next decade. Some have been relocated to far-flung suburbs or central California towns that are several hours away. Others have gone back to the south. You can also watch the series on Facebook Live or our YouTube channel. Tune in today! References https://www.mercurynews.com/2020/06/23/blackcalifornians-housing-crisis-by-the-numbers/ https://www.latimes.com/politics/la-pol-ca-affordablehousing-constitution-20190203-story.html

The Power Is Now Magazine | JUNE 2021

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The campaign also played on racial concerns about neighborhood integration and used heated rhetoric on the need to fight socialism.

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By Kenneth Session

Understanding the home’s appraisal process and how it can affect your mortgage payment

ome appraisal is a critical step to both home buyers and sellers whether purchasing a home using a mortgage, refinancing your existing mortgage, or selling your home to anyone other than an all-cash buyer. Due to its significance, it’s important for both home buyers and sellers to understand the ins and outs of the process. According to Investopedia, a home appraisal is an unbiased professional opinion of a home’s value. For a buyer, having a home appraisal performed to confirm the sales price for the lender is a key part of getting a mortgage. On the other hand, a good appraisal is crucial to secure the best price possible for a seller’s property. Moreover, lenders require a home appraisal before they give out a mortgage simply because they are protecting their investment. Lenders have to determine that the actual market value of the property is enough such that in case you default on the mortgage, the lender will sell the property for enough money to cover the loan. How does the home appraisal process work? The home appraisal process normally kicks off after an offer has been made and the property has been inspected. Normally, the buyer pays for the appraisal costs and in most

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cases arrange for it to occur as well. This is how it goes despite the fact that its purpose is to protect the lender, and not you the buyer. The cost of appraisal generally depends on the property type and location. High-end homes or homes with multiple units cost more. Appraisal costs typically range between $312-$407 in 2021, with a national average of $340. Once done, the appraisal report is directly sent to the lender. However, you can request for a copy and you’ll receive it as well. Additionally, expect the appraisal process to take between three to 10 business days. How can an appraisal affect your mortgage loan amount? Lenders issue mortgage loans based on the estimate of the home’s fair market value determined after the appraisal process. This means that an appraisal directly affects the amount of mortgage loan you can get. In other words, an appraisal protects the lender from giving you too much money, while keeping you from borrowing more than you need for a particular home. Appraisal amount less than the sales price? You could be wondering, what happens if a home is appraised lower than the amount it’s being sold at? This may be termed as a rare scenario but it happens and it’s best to be ready.

What is this LTV? The LTV stands

for the amount your loan will cover in buying the house. In other words, it compares the loan amount you’re getting with the value of the home. This means that you might be required to put down more money to make up the variance. Alternatively, you can approach the seller to see if they can reduce the asking price to the level of the appraised value. On the other hand, if the property is appraised for higher than the purchase price, you’re certainly in a good situation. A higher appraisal amount means that the seller is asking for less than the home’s market value. In this case, your mortgage amount will not change since the selling price will not increase to meet the appraisal value. Understanding the home appraisal process and all the possible outcomes that surround it is a significant step to both home buyers and sellers. The process is especially important to buyers as it helps them to smoothly maneuver the market and land a home that falls within the budget and what the lender is willing to give. As a seller, it’s important to have your home appraised to help you accurately place the right selling price on the home to attract prospective buyers.

Work cited. https://www.thebalance.com/appraisal-process-when-buyinga-home-2395235. https://www.rocketmortgage.com/learn/does-house-have-toappraise-for-selling-price-or-mortgage-amount.

One thing worth noting is that a low appraisal doesn’t mean the lender will shy from lending you money. Rather, it means the lender will issue you a loan on the basis of loan-to-value (LTV) ratio agreed to in the prospect contract.

The Power Is Now Magazine | JUNE 2021

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

By Robert Langston

Avoid Staying Stagnant:

Finding your new home for the next stage of life Home is always tied to one’s needs, and most importantly, family. For most people, any decision of buying or selling a home is always connected to a significant life event. It could be a starter home for newlyweds, a bigger home for a growing family, or a move for a job, and a smaller house when the kids join college, and the list goes on. Although one’s home buying journey doesn’t have any similarity with their neighbor’s or friend’s, looking at the broader trends can help you understand what to look for when buying a home. With home buying being among the most significant investments most people make in their lives, no one would want to regret any home purchase they make. And taking your time now to figure out the exact thing you need in a home could save you a lot of trouble in future.

1. The newlyweds or partnered couple. Exchanging vows has been a triggering factor for homeownership for many centuries. Nonetheless, the trend has changed slightly as first-time homebuyers are buying homes even without exchanging vows. For the broader www.tHEPOWERISNOW.com

trend, newlyweds’ first-time homebuyers (most who are millennials these days) go for the starter home— a place to start building a foundation. As you go for your starter home together, there are a few things you need to consider. The first thing is affordability. With high student loans on your shoulders and the experience of l

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Let’s look at the broader trend of most people’s home buying journey.

two recessions, affordability can be challenging for most millennial first-time homebuyers. However, it would be best if you focused on buying a home you can afford. It’s apparent that you do not need tons of space, and that’s why a starter home is the best option. A starter home can be a great investment and an excellent starting point when chosen carefully. It can help you build equity along with your savings as you position yourself to move to your next home for the next stage in life. The next thing to consider is the proximity to your workplace, commute time and lifestyle considerations. The location of your starter home will have significant impacts on the quality of your lifestyle, including your working life. And that’s why it’s important to consider it carefully. 2. The growing family. Having been in your first home for a few years, it’s now time to make another move. With the addition of kids and pets, it’s probably time to move to a larger and more family-friendly space. Besides the number of bedrooms, there are a few other things to consider in this next stage in life. First, the importance of school districts takes center stage. For most parents, the desire to give the best education to their kids, especially in middle and high school, goes beyond the desire for more space. A recent study revealed that 53% of homebuyers with kids under 18 say that school districts are a major factor in their home-buying decisions. However, wellfunded and higher-ranking schools come with higher home prices. For that reason, many homebuyers choose to sacrifice a bit of space to find a preferred home in their desired location. Another important thing is lifestyle considerations. For most growing families, living space is a key priority. Your teenagers

will want a space to hang out with their friends, which calls for a finished basement or a recreation room. A good layout in the house can also ease family life. For example, an open layout is perfect if you want to be watching your little kids play in the living room while you make dinner. The functionality of the house is another important factor you’d want to keep an eye on. Will each room fit into your everyday life? Does it have a well-designed laundry room that will handle the massive loads of laundry for both infants and kids? Identify the features that will have the most significant impact on your everyday life and ensure they’re there. 3. The empty-nesters. The hustle and bustle of life are starting to calm down as kids grow older and go to college or move out to their own spaces. At this point, all the square footage that was all under maximum usage in the previous phase of life can start becoming overwhelming. The need for that large space is now over, and it becomes unmanageable or simply unnecessary. With this new reality, the best solution is downsizing, mainly due to maintenance and livability. With several unutilized bedrooms and bathrooms, it becomes impractical to keep heating and cleaning. Finding a smaller home at this stage comes with less maintenance and fits your current lifestyle. All you need at this stage is a lovely large garden instead of a nice house that you can be tending to from time to time. Conclusively, it’s obvious that life never stands still. It’s always on the move, and so is your housing needs. Identifying the stage you’re currently in and where you’re headed can help save you a lot of time, energy and money in the long run. Work cited. https://www.meganmicco.com/blog/finding-a-home-for-yournext-stage-of-life/.

The Power Is Now Magazine | JUNE 2021

By Briana Frazier

Here’s how to plan for the perfect patio

re you looking to create a beautiful patio that you will enjoy for many years to come? Or are you dreaming about dining under the stars in your own home? Or are you looking to improve your outdoor living experience significantly? All these can be achieved by creating a stunning patio at your home. But how do you do this, especially if you’re an amateur gardener? Remember, a patio isn’t just for beauty and display, but a place surrounded by vibrant hues where you can unwind, entertain, cookout, and take a break from the daily chaos. Some even argue that a meal made in an outdoor kitchen, to some extent, tastes better than what comes from its indoor counterpart. Let’s look at a few things you should consider if you’re planning for the perfect patio.

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1. Put it on paper. Putting your ideas on paper is something that applies to almost anything you’re putting a plan on. This is because it saves you a lot of time, energy, and potentially money, while in this case, it will go ahead to ensure you end up with a perfect patio. Planning your patio on paper first will allow you to see if your ideas are practical and give you room to change your mind and make any necessary adjustments before construction takes off. Planning your patio on paper first will also give you a chance to ensure that your new patio will work with the rest of your garden. You don’t want to construct a masterpiece that looks like it fell from the sky. So, put all your ideas, plans, and everything else on

best if you also planned on taking advantage of any stunning views you have in your garden.

2. Determine your purpose. People construct masterpieces in their backyards for various reasons or rather functions. Some are aiming to spruce up their gardens to push the home’s value up, others may be wanting to use it as a dining room extension, while others are looking to create a usable space for friends and family to have an awesome outdoor experience. Whatever your main objective is, you should keep it in your mind as it will inform all of your decisions concerning the patio later on in the planning process. 3. Positioning. When planning for a perfect patio, think about the best position. Primarily, the main objective of your new patio should play a key role in determining where to position the patio in your home. For example, if you’re planning to use your patio as an outdoor dining area, it should be positioned near the kitchen. Alternatively, if you want to use your new patio as a lounge area, positioning it near the living room would serve the best purpose. Moreover, it would be 94

4. The size of your patio. The size of your upcoming patio is key whether you’re planning a cozy space for your small family to dine under the stars or recreational space for family and friends such as gettogethers. The size of your patio should also be determined by whether you hold large or small get-togethers. Although we are discouraging such events for now due to the pandemic, it’s important to plan for the future since the pandemic will not be here forever. However, it’s also important to consider the size of your garden. You do not want your patio taking over your entire garden. 5. Hire a qualified professional. Lastly, if you’re an amateur in this particular field, a qualified professional gardener or contractor would come in handy. Using a qualified professional will ensure all the necessary groundworks and building works are well covered, ranging from the choice of materials, accounting for drainage and access, and styling it up. A qualified professional will turn your ideas into reality. Remember, a home is not complete with just the house and the interiors. Make your home complete with a perfect patio masterpiece in your garden. Works cited. https://www.housebeautiful.com/uk/garden/a1570/patiogarden/.

The Power Is Now Magazine | JUNE 2021

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paper and get the input of your friends and any experienced gardener if you want to end up with a perfect patio.

By Adrian Bates

Ready to make the Bold Move? A-1 Realty is here to help you every step of the way

very month, tens of thousands of people travel into and out of Florida. Did you notice that in that number, we included moving out? Relocating to Florida is not for everybody. For every person who moves to the state, many of them return until they realize their decision to migrate was a mistake. The take-home point is that you should not jump into a decision to relocate to Florida. Whether or not to relocate to Florida is a decision that should be taken after you have spent some time understanding how the change would affect all aspects of your life. What is it like to live in Florida? Which city is

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perfect for retirement? You should be asking yourself many questions, and hopefully, this guide will help you answer some of the more pressing questions. Pros and Cons of Living in Florida No matter where you eventually end up moving in Florida, certain basic benefits and drawbacks extend to most of the state’s population. Take a moment to consider how these factors could affect your everyday life now and in five years. Can you, for example, withstand the heat? While such information can seem insignificant, they have a greater impact on the quality of life than you may expect.

Pros of Florida Living

First, let’s discuss why you should relocate to Florida. Here are some advantages that Florida has. Are they sufficient to distinguish Florida from other states? • There is no state income tax, which is a major benefit. • Housing prices are lower than in many other parts of the country. • Take advantage of outdoor entertainment and world-class beaches. • There is no snow. Thus, it is warm all year. • Residents of Florida are entitled to discounts at well-known local attractions. • There are so many communities devoted solely to retirees and snowbirds.

So, why do so many people have high hopes for Florida but then leave a few years later? Perhaps it was one of these cons that they were no longer willing to put up with. Can you deal with the following? • Hurricanes, as well as excessive humidity and heat, have an impact. • The state is very flat, with no mountains or valleys. • The state has a higher proportion of visitors and part-time residents than other states. • The insurance costs are higher than in other parts of the country. • In Florida, the bugs are bigger, and there are a lot of alligators and snakes.

Buy or Rent A Home? People relocate to Florida for various reasons, the most popular of which are lifestyle, a slower-paced retirement, or a new snowbird home. If you are moving to Florida permanently or temporarily can influence whether you buy or rent a house. You’ll still need to determine whether you want a singlefamily home or a condo.

not for you, you will find yourself with a house that is valued less than what you paid for it when the time comes to sell.

Housing Market Tips Each Florida housing market fluctuates depending on how many people move in and out of the region at any given time. Wait until there is a slowdown in movers during the summer if you don’t want to overpay for a house. A knowledgeable real estate agent will assist you in identifying these opportunities.

Conclusion Are you looking to purchase a home? A-1 Realty will assist you in finding the home of your dreams by listening to and understanding your needs and desires. We will do our best to find the best home for you once we know what you want because no one can compromise on such a large purchase.

If you buy, ensure you’re ready to invest in the property for at least a few years. If you buy when the price is high but decide that living in Florida is

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Cons of Living in Florida

If you decide to rent, be sure to understand your rights as a tenant in Florida. Understanding how the law protects you can help you understand what is or is not acceptable landlord behavior.

You can also watch the series on Facebook Live or our YouTube channel. Tune in today! References https://www.lifestorage.com/blog/moving/moving-to-florida/

The Power Is Now Magazine | JUNE 2021

By Success Money

How To Save Money For Down Payments

and Closing Costs on a New Home

Several people continuously seek to buy homes every year. The number increases when those who cannot afford the down payments are added. With these payments ranging between 3% 20% of the initial price and closing cost valuing at 2% - 5%, a lot of people are lost on how to save for it. These are the best tips that would maximize your savings before you even know it!

Employ the Services of a Certified Realtor Many people prefer to save money and cut costs by going through the stress of finding the perfect home themselves. While it is a plus, it is not www.tHEPOWERISNOW.com

always the best decision as hiring a realtor. A true professional knows the best neighborhoods for people with a certain budget, they are aware of the best deals that are not always advertised, they also know the best places to get a loan and can also make sure the process of buying is legit, to avoid frauds. The list of advantages of getting a realtor is endless and of truth, it reduces costs if you get stuck at a point. 123rf.com

Consider Cheaper Homes The real estate market is saturated and most homes have cut-throat prices. There are hidden gems in this market – less expensive houses but also of good value, and finding them would require the prospective home buyer to be extremely patient and thorough.

Live Frugally This one would be a problem for some people

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who are used to a certain standard of living, but it is one of the most effective ways to save. Reduce the amount spent on unnecessary things like fancy dates on weekends or splurging on expensive clothes because you were paid earlier in the day. Even the little ones like a monthly gym membership that can cost $50 would be totaling to $600 that can be put into the savings. Exercising at home or riding a bicycle are cheaper options. Reduce Your 401(k) Plan Saving for retirement from a young, working-age is a great decision, but if you intend to buy a house sooner than later, cutting down on how much to contribute to it monthly can go a long way for your savings. This is just for a while until you buy. Utilize a High-Yield Savings Account There are different interest rates when saving in a bank and it depends on your plan. The rates range between 4-15%p.a., depending on your account. When money is constantly saved in that account, the interest earned can grow and add up to a reasonable amount that can go into buying the house.

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Grow Your Streams Of Income This has to be the most important and effective way to save for a down payment. Having multiple things that you earn extra cash from can reduce the number of years you would have to save for a home. Are there skills or hobbies that you can monetize? Do you have the time for a part-time job? All these are great ways. Get creative in raking in the money. You can drive for a ride-sharing company, dropship, or freelance – the list is inexhaustible. Conclusion Saving money can seem like a daunting experience, but buying that home of your dreams is completely worth it. There are so many ways to save and whichever one you choose, be consistent with it. The effort is everything and you would forget all that when you finally have your new home. You can also watch the series on Facebook Live or our YouTube channel. Tune in today!

The Power Is Now Magazine | JUNE 2021

By Joe L. Fisher

The Pros and Cons of VA Homeownership for veterans

he demand for VA home loans has recently been on the rise as many service members faced with tough credit and down payment requirements choose VA loans as their suitable home financing option. We cannot hide or deny the extreme attractiveness of VA loans, especially for veterans. In 2020, the number of military members who took advantage of the VA loan programs was reported to have expanded rapidly. According to Forbes, more VA-backed loans originated in 2020 than in the two previous fiscal years combined, totaling more than 1.2 million loans.

Pros of VA home loans. To begin with, VA-backed or VA home loans require no down payment. This means that eligible borrowers can borrow as much as the lender is willing to give without putting a penny down. How does this happen? When the VA backs a loan, it means they insure a part of the loan. This means that in case you default, the VA covers the portion they had insured. This gives lenders more confidence, and in return, they’re able to offer more favorable terms such as no down payment to eligible borrowers.

However, as with any loan option or anything else in this world, VA home loans have their pros and cons. It’s just part of the game. It’s best that you remain aware of these pros and cons if you’re to make an informed decision. Let’s have a look.

VA home loans also require no private mortgage insurance (PMI) from eligible borrowers. This is simply because the Department of Veteran Affairs or VA insures home loans to eligible veteran borrowers. Normally, PMI is required for

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conventional borrowers who are not in a position to put down at least 20%. For conventional borrowers who afford to put down 20% or more, or those with a 20% equity in their homes, PMI is not required. Requiring no down payment and no PMI, the VA home loans come with significant benefits to eligible military borrowers. Additionally, VA home loans offer two refinance options that can help eligible veteran home buyers reduce their monthly payments or get cash back from their equity. The first one is the Interest Rate Reduction Refinance Loan (IRRRL), which is designed for home buyers with existing VA loans. The second one is the VA CashOut Refinance which allows existing VA and non-VA homeowners to refinance their mortgages and get cash at closing to pay down debt or cater for other expenses and needs. Another advantage of VA home loans is that they are flexible with bankruptcy and foreclosures. Typically, bankruptcy and foreclosures can crush one’s credit score and overall financial health. However, bankruptcy and foreclosure don’t automatically disqualify a borrower from getting a VA loan. After being declared bankrupt or having experienced a foreclosure, you’re required to wait for two years to be eligible for a VA home loan. Lastly, on the pros of VA loans, there is no prepayment penalty. Yes. You can fully settle your VA loan early with no worry of attracting any prepayment penalties. This is unlike other conventional loans. VA Home loan cons. First, VA home loans or programs are not for everyone. The program is a loan one must earn, and this makes it extremely rare to acquire compared to other loan options. VA home loan programs are only eligible to service members, including veterans, active service duty members, and those serving in a National Guard or Reserve who have served or are serving in the US military. 106

The programs are also eligible to surviving spouses of veterans, the spouses of veterans who are missing in action, or those held as prisoners of war. Besides these, the veteran or the spouse must meet the basic service requirements set by the VA, have a valid Certificate of Eligibility (COE), and meet the lender’s credit and income requirements. Secondly, all VA home loans come with a mandatory VA Funding Fee, which is meant to help keep the VA home loan program alive for future generations and goes directly to the agency. However, eligible borrowers with service-connected disabilities are an exception. The fee is something that you’ll not find in other conventional loans, although it’s for a good cause. Moreover, VA home loan programs are only designed for primary residences. This means that you can’t use a VA loan to buy your second home or investment property. Service members who qualify for the loan have to certify that they intend to personally occupy the property as a primary residence and the VA gives the eligible borrowers a “reasonable time” of up to 60 days from the closing date to occupy the home. Lastly, some home sellers are never open to the idea of accepting offers from VAbacked borrowers. However, this majorly has a lot to do with some of the myths and misconceptions surrounding VA loans. Some people rumor that VA loans have too much government red tape, while others believe that VA loans take forever to close, which are all false statements. With both sides of the coin now shown to you, you’re in a better position to make an informed decision. It’s time to live the American dream of homeownership. Work cited. https://www.veteransunited.com/valoans/va-loanpros-and-cons/

The Power Is Now Magazine | JUNE 2021

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CFPB Issues Reports Detailing Mortgage Borrowers’ Continuing COVID-19 Challenges

n May 4, the CFPB purge span process analyzing stake borrowers’ challenges due to the ongoing COVID-19 pandemic. The primary description explores the sort of borrowers who are defaulting or in good will based a transcribe of nearly 662,000 loans for owner-occupied properties. The esteem shows deviate Dusky and Hispanic borrowers are on every side at threaten than others, as they comprised 33 percent of borrowers in acceptance (and 27 percent of unpaid borrowers) while only constituting 18 percent of the total population of mortgage borrowers.

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Modification poop be confident of mosey (i) loans widely known in Rally 2021 as monster in patience or remiss were “more fast than solid loans to be single-borrower loans and to venture been 30 times delinquent in February 2020,” and (ii) “the portion of loans close to [a loan-to-value] ratio above 60 percent was significantly larger for borrowers in forbearance (50 percent) or delinquent (51 percent) compared to those who were current (34 percent).” “The Customer Financial Protection Bureau (CFBP) seeks commentary on token amendments to Aright Compare arrive to assist borrowers affected by COVID-19.The Subsection is fetching this fake to approve of persuade ramble borrowers affected by 108

the COVID-19 growth crack an time to be evaluated for descent mitigation before the initiation of foreclosure. The insubstantial amendments would fit out a concise COVID-19 emergency pre-foreclosure break down period until December 31, 2021, for principal residences. In auxiliary, the insignificant amendments would in the meanwhile receive stooge servicers to rich enough categorical facility modifications bound obtainable to borrowers experiencing a COVID-19-related hardship based on the evaluation of an incomplete application. The Bureau further proposes categorical amendments to the near the start operation and economy effort take someone for a ride that Regulation X imposes on mortgage servicers.” This was the statement they made on the website of the federal government. “More borrowers are again on their surety than at plebeian years for the purpose the inch a descend of the Magic Recession,” said CFPB Acting Director Dave Uejio. “Communities of color bid been raid constant by the growth, and the prehistoric text act out that many borrowers are still hurting. The CFPB main support tarry to wish and systematic explanation to developments in the quid pro quo, accomplishment perfection in our capacity to uphold pending families stay in their homes. As we warned guaranty servicers extend month, unprepared is unacceptable.” The CFPB into the bargain obtain a prompt in its rock report drift it is suitable comments on a contemplate suited to in the deep-freeze nullify avoidable foreclosures for borrowers affected by the Covid-19 pandemic. As veiled by a Buckley Cherished Severe, the conception would for the moment invite servicers to befit communications around borrowers who are culprit or in sufferance, close by on servicers to in trouble with totalitarian silken favor adjustment options to borrowers with Covid-19-related hardships, and require servicers to afford all borrowers a special pre-foreclosure review period, if finalized. The CFPB established go a complete authority implementing the mean stability take fulfil Ceremonial 31—a trashy timeline to address public comments, which are due May 10. You can also watch the series on Facebook Live or our YouTube channel. Tune in today! The Power Is Now Magazine | JUNE 2021

Fannie and Freddie Asked to Write Their Wills

The final rule requires the GSEs to explain how core or essential business lines can be sustained to ensure continued support for mortgage finance

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and to stabilize the housing finance system without exceptional government support, to prevent a GSE from being put in receivership, litigate investors for losses, or fund the resolution of either company. Housing and Economic Recovery Act (HERA) The ultimate goal of the Housing and Economic Recovery Act was to restore public confidence in government-sponsored enterprises (GSEs) that offered home loans, namely Fannie Mae and Freddie Mac. It established the Federal Housing Finance Agency (FHFA) and authorized states to repay subprime loans with mortgage revenue bonds. As a new agency in 2008, the FHFA used its newly acquired authority to place Fannie Mae and Freddie Mac in conservatorship. Under the main act of HERA, there were several sub-title acts, including:

The Power Is Now Magazine | JUNE 2021

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he government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac have been directed to create so-called living wills. Such wills are comprehensive resolution plans that detail how either GSE could be resolved quickly or orderly if the Federal Housing Finance Agency (FHFA) is named receiver in case of another financial meltdown. The order is in the form of a final rule provided by the Federal Housing Finance Agency. The law is similar to those provided by the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, requiring several large financial institutions to apply such wills. The Treasury Department and the Financial Stability Oversight Council have also approved living rules for the GSEs.

• Housing Assistance Tax Act of 2008 • FHA Modernization Act of 2008 • SAFE Mortgage Licensing Act of 2008 • Housing Assistance Tax Act of 2008 This HERA subtitle act included a refundable tax credit for eligible first-time homebuyers (purchases made on or after April 9, 2008, and before July 1, 2009) up to 10% of a principal home’s market value to $7,500. It also abolished the credit for taxpayers earning more than $75,000 ($150,000 for collective returns). Those who received the tax credit were required to repay it over 15 years in equal installments via a surcharge on their annual income taxes. It also provided emergency aid for the redevelopment of foreclosed and abandoned properties.

FHA Modernization Act of 2008 The FHA loan limit was raised from 95 percent to 110 percent of the region’s median home price, up to 150 percent of the GSE conforming loan limit (i.e., $625,000) under this subtitle act. It also required a 3.5 percent down payment on all FHA loans. It imposed a 12-month moratorium on implementing risk-based premiums by the US Department of Housing and Urban Development. It also banned seller-funded down payments while allowing the FHA to guarantee up to $300 billion in 30-year fixed-rate refinance loans for distressed borrowers up to 90% appraised. The act applied to mortgage commitments made on or before January 1, 2008. Furthermore, the act allowed current mortgage holders to accept the profits of the insured loan as full payment on any preexisting debt. Participation in this initiative by lenders was entirely voluntary. SAFE Mortgage Licensing Act By August 1, 2009, all states were forced to enact a mortgage loan originator (MLO) registration and licensing system (or August 1, 2010, for legislatures that assemble every two years). States were permitted to run their systems while adhering to strict federal guidelines or enroll in the Nationwide Mortgage Licensing System and Registry (NLMS). Conclusion For the very first time in history, the GSEs must explain how, in the event of insolvency, key business lines and charters would continue to sustain the

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housing finance system without the need for unprecedented government assistance. These living wills provide future investors with the information they need to price risk suitably by establishing the ground rules in the event of insolvency. This is a condition for the GSEs to gather private capital, which is vital to the housing market’s long-term stability. Simultaneously, the FHFA will continue to advocate for solutions to systemic issues in the housing sector that GSEs cannot overcome independently. Only local governments have the authority to reverse zoning restrictions and land-use rules that raise the cost of new housing or halt construction. Only Congress has the power to break up the Fannie and Freddie duopoly, which capitalizes risk and prevents new entrants from providing better prices, efficiency, innovation, and stability. Nonetheless, ensuring that the GSEs are well-capitalized and ready to survive the next downturn is critical to avoiding exacerbating these issues as housing prices fall is unavoidable. You can also watch the series on Facebook Live or our YouTube channel. Tune in today!

References http://www.mortgagenewsdaily. com/05042021_gse_conservatorship.asp https://www.americanbanker.com/news/ fhfa-proposes-living-wills-for-fannie-andfreddie https://www.investopedia.com/terms/h/ housing-and-economic-recovery-acthera.asp

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he mortgage application sector revealed an unusual behavior towards the end of April after it recorded a decline in mortgage application volume. This happened despite the increasing housing market activities amid the pandemic. Could mortgage applications be struggling to keep up with the hot housing market? What could be behind this? According to MBA, its Market Composite Index— a measure of mortgage loan application volume— decreased 0.9% on a seasonally adjusted basis during the week ended April 30. The index was 1% lower than the previous week on an unadjusted basis. Additionally, the refinance share of mortgage activity surged 60 61% of total applications from 60.6% the previous week. On the other hand, the seasonally adjusted Purchase Index dropped 3% and was down 2% on an unadjusted basis. Moreover, purchase activity was still up 24% compared to the same week in 2020. What does this mean? According to Joel Kan, MBA’s Associate Vice President of Economic and

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Industry Forecasting, both conventional and government purchase applications declined, but average loan sizes increased for each loan type.

“This is a sign that the competitive purchase market, driven by low housing inventory and high demand, is pushing prices higher and weighing down on activity. The higher prices are also affecting the mix of activity, with stronger growth in purchase loans with larger-than-average balances,” Kan said.

Mortgage Application Volume fails to keep up with the Red Hot Housing Market

The Power Is Now Magazine | JUNE 2021

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loan balance surged to $337,000 from $330,100, while purchase application balances rose by $8,000 to $408,100.

What could be behind this new trend?

“An increase in conventional refinances was offset by a decline in government refinances. The 30-year fixed rate was up slightly to 3.18%, which is still 22 basis points lower than a year ago, but higher than it was between mid-2020 and February 2021,” Kan added. Indeed, this is true. According to MortgageNewsDaily, the FHA share of total applications dropped to 10.1% from 10.7% the previous week, while the VA share dropped from 12.2% to 11.9%. Moreover, the average www.tHEPOWERISNOW.com

Elsewhere, MortgageNewsDaily indicates that the average contract interest rate for 30year fixed-rate mortgages or FRM with loan balances at or under the conforming limit, which is $548,250 went up by one basis point to 3.18%. The 30-year FRM backed by the FHA recorded an average rate of 3.13%, representing an increase of 1 basis point week-over-week, while points dropped from 0.24 to 0.22 as the effective rate went up to 3.20%. Moreover, the 15year FRM rate dropped from 2.55% to 2.54% as points went up from 0.30 to 0.31, and the effective rate dropped to 2.62%. Forbearances. In other news, MBA’s recent Forbearance and Call Volume Survey revealed that 4.47% of all loans in servicer portfolios were in forbearance as of April 25. This represents a drop of 2 basis points from the prior week. According to MBA, about 2.23 million homeowners remain in forbearance plans with 12.8% of the loans in their initial terms, while 82.3% were in a forbearance extension, and the remaining 4.9% were re-entries to the program. Elsewhere, the share of loans

in forbearance dropped for the ninth consecutive week after dropping by two basis points, according to Mike Fratantoni, MBA’s Senior Vice President and Chief Economist.

“The rate of exits has slowed the past two weeks, with this week’s exit rate reaching the lowest since February,” said Mike. “The increase in the forbearance share for portfolio and PLS loans highlights both the ongoing buyouts of delinquent loans from Ginnie Mae pools as well as an increased forbearance share for other loans that are not federally backed.” The recent MBA survey covers the period from April 19 through April 25 and represents 74% of the first-mortgage servicing market, which equates to 37 million loans.

Work cited. http://www.mortgagenewsdaily. com/05052021_applications_and_ forbearances.asp.

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June is Alzheimer’s and Brain Awareness Month

lzheimer’s disease is a disease that can affect someone who has a brain. This disease destroys nerve cells and tissue in the brain, impairing a person’s ability to remember, think, and plan. The brain shrinks rapidly as the disease progresses due to cell death. People lose the ability to talk, remember family and friends, and care about themselves. Alzheimer’s disease, the most prevalent type of dementia, is one of the country’s most serious public health problems. It is the only one of the top ten causes of death in the United States that cannot be avoided, treated, or even slowed. Alzheimer’s and other dementias affect 47 million people worldwide, and if nothing changes, this figure is projected to rise to 76 million by 2030. However, everybody should contribute to putting an end to this epidemic. The Alzheimer’s Association celebrates Alzheimer’s & Brain Awareness Month in June as an opportunity to raise awareness and combat this global epidemic. 10 Ways To Love Your Brain People may reduce their risk of cognitive impairment, according to growing evidence. The Alzheimer’s Association and its experts have produced a list of 10 Ways to Love Your Brain – tips that can help minimize the risk of cognitive decline:

1. Break a sweat: Regular

cardiovascular exercise raises your heart rate and improves blood flow to your body and brain. Several studies have discovered a link between physical activity and a lower risk of cognitive decline.

2. Go over your books:

Formal education will help reduce your risk of cognitive impairment and dementia at any age. Take a class at a nearby college, community centre, or online, for instance.

3. Butt your cigarette out: There is evidence that

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smoking raises the likelihood of cognitive impairment. Quitting smoking will reduce the risk to levels comparable to nonsmokers.

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4. Follow your heart:

Obesity, high blood pressure, and diabetes are all risk factors for cardiovascular disease and stroke, and they all have a detrimental effect on your cognitive health. If you take care of your heart, your brain will follow.

5. Heads-up! - A brain injury will increase the chances of developing cognitive impairment and dementia. Wear a seat belt, wear a helmet while riding a bike or contact sports, and avoid falls.

6. Keep the fuel upright:

To help reduce the risk of cognitive loss, eat a safe and balanced diet high in vegetables and fruits and low in fat.

7. Get some sleep:

Insomnia or sleep apnea may cause memory and thought if you don’t get enough sleep.

8. Look after your mental health: Some

reports relate a history of depression to a higher risk of cognitive impairment, so seek medical attention if you are experiencing signs of depression, anxiety, or other mental health issues. Often, make an effort to manage stress.

9. Make a friend:

Maintaining social engagement can benefit brain health. Engage in social events that are important to you. Find ways to contribute to your community – if you like animals, try volunteering

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at a rescue shelter. Join a local choir or volunteer at an afterschool program if you enjoy singing. Alternatively, engage in sports with family and friends.

substantial time commitment. Among the volunteer opportunities are:

In addition to lowering your risk of cognitive impairment, these tips can also lower your risk of dementia. The evidence for lowering the risk of dementia is currently strongest compared to formal education and preventing head injury; other tips can also help reduce the risk.

• Facilitator of a Support Group As a coordinator: You will lead monthly meetings in your group for adult children, family caregivers, spouses, or individuals living with dementia. • Educator in the community If public speaking is one of your strongest suits, you might want to consider a career as a community educator. These speakers aid in providing education and expanding the Alzheimer’s Association program’s scope. You must give at least 12 presentations per year. • In addition, volunteers are required for the organization’s annual activities, such as the Walk to End Alzheimer’s and The Longest Day.

Take Action Through Volunteering The Alzheimer’s Association, which has 75 chapters, has many volunteer opportunities available if you have a couple of hours a week to spare or can make a

Conclusion Alzheimer’s disease often necessitates long-term treatment, and families are often burdened financially. There are many services available to assist families and caregivers

10. Brainstorm: Your

mind should be challenged and activated. Build a piece of furniture. Put together a jigsaw puzzle. Make an artistic effort. Play games that need you to think creatively, such as a bridge. Challenging your mind can benefit your brain in both the short and long term.

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in navigating these financial difficulties. The Alzheimer’s Association will help you find low-cost or no-cost community support programs such as support groups, respite care, transportation, and homedelivered meals. Living a balanced lifestyle is also one of the easiest but most profound ways to honor people living with Alzheimer’s. While there is no known way to avoid Alzheimer’s disease completely, evidence suggests that eating a balanced diet and exercising regularly, maintaining social engagements, and fueling the mind with ongoing education and engaging activities can all help to delay cognitive loss. You can also watch the series on Facebook Live or our YouTube channel. Tune in today! References https://www.unicityhealthcare.com/ june-is-alzheimers-and-brain-awarenessmonth-showing-support-for-those-livingwith-dementia/ https://www.prnewswire.com/ news-releases/skypod-supportsalzheimers--brain-awareness-month-injune-2021-301296580.html

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Information About Sickle Cell Disease Sickle cell disorders are a group of diseases that affect the red blood cells. Sickle cell disease is a genetic disorder, which implies that it is passed on by your parents and you are born with it; you cannot contract it from other people.

June is Also World Sickle Cell Day

Sickle cell disease allows blood cells, which are normally spherical and flexible, to stiffen and become sickleshaped, prohibiting blood cells and the oxygen they bring from flowing freely across the body and resulting in pain. This can result in severe pain episodes. These severe episodes are known as sickle cell crisis. To control the pain, they are given strong analgesics such as morphine. People with sickle cell disease are also susceptible to complications such as acute chest syndrome, stroke, blindness, bone injury, and priapism (a penile erection that is persistent and painful). Organs such as the lungs, kidney, liver, heart, and spleen may be damaged in sickle cell patients over time. Complications of the disorder may also lead to death. The majority of sickle cell treatment is focused on treating and preventing complications. Epidemiology of Sickle Cell Disease According to estimates, one in every 400-500 African American newborns and one in every 1,000-1,400 Hispanic newborns is born with SCD. Due to high birth rates and under-diagnosis in the population, Latinos

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The

United Nations designated a day to increase sickle cell awareness nationally and internationally, and it is regarded as the World Sickle Cell Day. On December 22, 2008, The United Nations General Assembly passed a resolution recognizing sickle cell disease as a public health issue and “one of the world’s leading genetic diseases.” The resolution encourages members to increase sickle cell awareness on a national and international scale on June 19 of every year.

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are expected to outnumber African Americans hospitalized in California hospitals for SCD by 2013. All states in the United States now screen newborns for Sickle cell disease. It is estimated that one in every ten to twelve adult African Americans carries the SCD genetic trait. If both parents are carriers, each offspring has a one in four probability of developing SCD. Currently, the only treatment for SCD is a stem cell transplant that entirely replaces the patient’s immune system. The stem cells could be derived from cord blood or bone marrow. However, due to the complications of receiving high-dose chemotherapy for a transplant, this cure is only available to the most seriously ill patients, such as children who suffer from strokes., Researchers are conducting clinical trials to make transplants accessible to more SCD patients using Reduced Intensity Chemotherapy. How to Participate in World Sickle Cell Disease Day Supporters plan to mark World Sickle Cell Day, celebrated every June 19, raise awareness about red blood cell disease, and raise funds to combat it. Around the world, supporters will wear red to raise awareness of sickle cell disease (SCD), sponsor a run or walk, shave or dye their hair, and share patient experiences with local media outlets. The event, organized by the Sickle Cell Society in the United Kingdom, is also an opportunity to help and also celebrate the successes of people with sickle cell. On its World Sickle Cell Day website, the society stated that World Sickle Cell Day is the ideal www.tHEPOWERISNOW.com

opportunity to host an event or fundraiser to educate people in your neighborhood about sickle cell disease and support those who live with it. Since the COVID-19 pandemic puts these patients at increased risk of complications, the Sickle Cell Society recommends that participants wear masks and observe appropriate social distancing during in-person events on World Sickle Cell Day. Conclusion World Sickle Cell Awareness Day holds June 19 every year. The international awareness day is observed each year to increase understanding and public awareness of sickle cell disease and the challenges patients, caregivers, and families face. The World Health Organization (WHO) estimates that sickle cell disease affects approximately 100 million people worldwide, with over 300,000 children born with the condition each year. Sickle cell disease can affect people of any race, but it is more common in Hispanics and African Americans. SCD is a group of red blood cell disorders that are typically passed down from one’s parents. It causes a change in the oxygen-carrying protein called hemoglobin which is found in red blood cells. You can also watch the series on Facebook Live or our YouTube channel. Tune in today! References https://www.downtoearth.org.in/news/health/world-sicklecell-day-2020-aims-to-increase-awareness-over-sickle-celldisorders-71852 https://www.sicklecellsociety.org/wscd/ https://www.sicklecelldisease.org/get-involved/events/ awareness-month-and-world-sickle-day/

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JUNETEENTH

“The people of Texas are informed that, in accordance with a proclamation from the Executive of the United States, all slaves are free. This involves an absolute equality of personal rights and rights of property between former masters and slaves, and the connection heretofore existing between them becomes that between employer and hired labor. The freedmen are advised to remain quietly at their present homes and work for wages. They are informed that they will not be allowed to collect at military posts and that they will not be supported in idleness either there or elsewhere.” —

General Orders, Number 3; Headquarters District of Texas, Galveston, June 19, 1865

t was this proclamation that laid the foundation for what is today known as Juneteenth- the most popular celebration in the history of the United States marking the emancipation of black people from the yolk of slavery. It took Major Gen. Gordon Granger two and a half years after the emancipation proclamation to deliver the news to the enslaved people in Texas. The History of Juneteenth Celebrations To understand Juneteenth better, we have to go back to the Emancipation proclamation. One fact we have to agree on is that the end of chattel slavery in the U.S. took a protracted period and with the cessation of slavery came celebrations, sometimes called Juneteenth, and some other times, Emancipation Day and some other times… Jubilee Day! If I said that the celebration was held at a particular date in time, I would be lying but the fact is, the celebration was held on a variety of dates at different historical moments and in various regions. Much of what is known today about the Juneteenth Celebration came from reports by White-Owned newspapers which means, they may not be as accurate as possible as the Public Historian Amber Bailey denotes, “It is important to note that virtually all of [the written history] from these Emancipation Day celebrations 118

comes through reports printed in white-owned newspapers. Thus, any understanding of these events is necessarily filtered through the lens of a white press whose views ranged from being sympathetic to black suffering, as typified in early Chicago Tribune articles, to unabashedly racist, as reflected in later Chicago Times articles.” The Juneteenth celebrations dates to as far back as the 1800s but in the early 1890s, African Americans began using the term “Juneteenth” to describe Jubilee Day. By the early 1900s, Juneteenth celebrations were extremely vibrant, rivaling the Independence Day celebrations. The Juneteenth celebrations were livelier, filled with spiritualism. However, according to the Historian Elizabeth Turner Hayes, the Juneteenth celebration had a Civic aspect to it in that, it took on a broader implication about citizenship. The celebration gave the African American community a platform to discuss their rights, with a special emphasis to voting rights and in most cases, the attendees would be encouraged to vie for public offices. In that decade, freedom included the right to vote which wasn’t so prevalent in the 19th century and also a right that was seemingly being compromised by the 20th century. The Power Is Now Magazine | JUNE 2021

This year’s Juneteenth celebrations will be different in a way. The country hasn’t healed from the death of George Floyd, Breonna Taylor, Ahmaud Arbery, and many others which means, there will be a renewed spirit in the fight for freedom. Given the sweeping changes that have so far happened to the country, especially in retrospect of the protests that happened in the country, the 2021 Juneteenth Celebration will resonate with so many people. But is it time to call for a national dialogue, to rethink emancipation? Juneteenth is more than just a celebration! It has to be more than that. If you look at the historical records, you will notice a completely different story, today, technology has made it possible for us to examine the astonishingly rich body of archival materials in relation to these celebrations and scholars have found that emancipation was in many ways a revolutionary call. Different archival sources also tell us that there were a plethora of actors already in play calling for emancipation, but what you will never hear is that enslaved Americans were the chief protagonists in a national story. Juneteenth Should Matter Now More than Ever Ironically, the Juneteenth celebration may be the most prominent celebration in as far as freedom is concerned, but it commemorates just a smaller moment that remains so obscured. Enslaved African Americans were freed by the signing of the 1963 Emancipation Proclamation but none of that is ‘remembered’ during these celebrations. Additionally, you will not hear a thing about the 1865 rule that ratified the 13th Amendment but instead, the celebrations are more about a ‘moment’ when the emancipation proclamation reached the slaves who were in the thick of this evil in the former Confederacy. But come to think of it, because that delay has in a way shaped what our culture really is. In so many ways, the Juneteenth celebrations are representative of how justice and freedom in the country have always been denied through delays. Even after the abolishment of slavery as an institution, the decades that followed were marked by a wave of lynching, wrongful imprisonment, and Jim Crow laws among many others. Soon after, black people would be incarcerated in high numbers, if not incarcerated, then denial of fair opportunities to housing, if not that, then no one was willing to take an economic risk on them. www.tHEPOWERISNOW.com

Today, we still see that happening, in most cases subtly, but even that is changing dramatically. The last decade has been characterized by open acts of police violence and various racial profiling cases which make it adamantly clear that while there is some noticeable progress that has been made in an attempt to fully free the African American people in the US, there still remains considerable barriers that continue to impede that progress.

These reasons are why I still think Juneteenth will forever matter! A Decade of Change… Following the protest that rocked most part of 2020, we can finally look ahead with somewhat optimism. The death of Mr. Floyd and many others has been a rallying call for radical changes in the country, effectively re-energizing and giving new direction and perspective to the Black Lives Matter Movement. While we are seeing some changes that we are highly appreciative of, still there is a room for improvement. In Minneapolis for instance, chokeholds and strangleholds have been banned. Additionally, the democrats in Congress have unveiled sweeping legislation that targets misconduct and racial discrimination by the police. It is one of the hallmark legislation that is very expansive intervening into policing. In addition to that, many businesses have come across to express their support of the BLM by either suspending or firing employees who mocked Floyd’s death or openly made racist remarks. It seems like this year we’ll see some of the most radical changes, and these sentiments have been echoed by so many including Mark Anthony Neal, an African-American studies scholar who said that there are some comparisons between the end of the Civil War to the current unrest. “The stakes are a little different,” Mr. Neal said. “Many African-Africans, black Americans, feel as though this is the first time in a long time that they have been heard in a way across the culture.” “I think Juneteenth feels a little different now,” he said. “It’s an opportunity for folks to kind catch their breath about what has been this incredible pace of change and shifting that we’ve seen over the last couple of weeks.” l

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World Father’s Day Father’s Day is a day celebrated worldwide and it is meant to recognize the contribution of fathers and father figures make to the lives of their families and everyone around them. This is one of the days meant to celebrate fatherhood and male parenting and even though it is celebrated on a variety of days, many countries recognize Father’s Day on the Third Sunday in June.

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Significance of Father’s Day Our fathers are our superheroes and the importance of a father or father figure cannot be neglected or ignored. In many households where we have a sound father, they are the ones who are very ready to take on everyday troubles for his family. A father or a father figure will always play an extremely important role in a child’s life as they stand with the family through thick and thin and help them achieve their goals in life. As such, what can be better than showing and showering our fathers with love and celebrating their sacrifices and efforts?

During this day, children buy and make presents for their fathers or father figures, sometimes children write and draw cards, spend the day with their fathers engaging in activities that can be enjoyed with one’s father. It may be hiking, fishing or any other activity. In many countries, most children have a very close relationship with their mothers; therefore this day will definitely help forge a closer relation with one’s father.

Father’s Day goes back way back to the 1900s and was officially proposed in 1909 to complement the Mother’s Day Celebrations. On this day, children appreciate their fathers and acknowledge their importance and role in shaping them, be it emotionally, mentally or financially. It is a day that acknowledges the many contributions of fathers not just to their own families, but the society at large.

While the United States recognizes Father’s Day on the Third Sunday of June every year, some other countries celebrate Father’s Day on March 19 including Portugal, Spain, Croatia, and Italy. Father’s Day in many countries is not a public holiday. But since it is on a Sunday, many of the public offices are closed on this day and very few organizations actually engage in business activities.

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SOUNDS LIKE DISCRIMINATION.

What matters is how you look on paper – not how you sound over the phone. Judging you by your race or national origin 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)

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.

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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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.