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Real Estate Agents Build Trust in your brand


impressive return to growth

Mortgage Market

what to expect in 2020


magazine THE POWER IS NOW MEDIA INC. Vol. 07 | Issue 1

Eric Lawrence Frazier, MBA President and CEO Office: (800) 401-8994 Ext. 703 Direct: (714) 361-2105 EDITORIAL TEAM Eric Lawrence Frazier MBA Editor in Chief (800) 401-8994 Ext. 703 Daniels George Managing Editor (800) 401-8994 ext. 712 Goldy Ponce Arratia Graphic Artist and Design Manager (800) 401-8994 ext. 711

CONTRIBUTORS The Power Is Now Research Team


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12. Building trust in your brand as a real estate agent 18. CalHealthCares second application cycle opens on January 13, 2020 22. How to start a succesfull real estate blog in 2020 30. HUD dedicates $10 million to affordable housing 34. Richmond VA real estate market, home price forecast 40. Supreme court to determinen CFPB constitutionality 44. US Secretary of commerce Wilbur Ross stresses Greece’s impresive return to growth 50. What should we expect in the mortgage market in 2020 52.Yardi matrix shows US multifamily market wrapping up a strong year THE POWER IS NOW MAGAZINE | JANUARY 2020


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• Streamed live on Facebook, and are • These sessions provide real estate agents rebroadcast on BlogTalkRadio which is and brokers a powerful marketing syndicated to iTunes, TuneIn and many opportunity to access The Power Is Now other online radio platforms. During the Network of Agents nationwide and our show each agent and their listings are audience of prospective buyers and sellers featured for approximately five minutes that is 1 million strong and growing. to discuss why buyers should consider buying their listing(s). In addition, each agent will be given a post-show opportunity to launch a customized marketing campaign to get additional exposure.


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ear esteemed readers,

Happy new year from The Power Is Now Media family! I am excited about what 2020 holds for The Power Is Now Media and as January unfolds before us, I will take this opportunity to share our 5 point game plan and goals for 2020. 1. Help Get Out the Vote. This is an election year and we want to support and promote the greatest benefit we have as Americans and that is free elections and the right to vote. Please vote. If you are a homeowner, future homeowner, investor or a real estate or lending professional involved in any aspect of the acquisition, financing, sell or management of real estate, then you really need to vote. Real estate is woven in fabric of our lives and it is very political and highly regulated. There are many laws and proposed legislation that has and will affect owning and managing real estate. Everyone needs to vote. 2. Real Estate Market intelligent from local boots on the ground. We are retaining VIP Real Agents who are writers and local market experts in all 5o states to contribute in the magazine and on our media platforms. We intend to be the resource for local market opportunities nationwide. 3. Online Talk Show. We are Launching an online talk show in 2nd quarter called The Power Is Now Real Estate Round Table. The show will conduct discussions about real estate, economics, law, mortgage and politics as it relates to housing. 4. Realtor of the Year. In 2020 will introduce The Power Is Now Realtor of the Year and Community Leader of the Year. The details of the recognition will be available 2nd quarter. 5. In 2nd quarter of 2020 we are launching The Power Is Now Heath Initiated. We are creating a running team to participate in 5k’s and 10ks in California and raising money for nonprofits and children hospitals and conducting shows on diet, health and fitness.




I am looking forward to going to the next level and seizing new opportunities in 2020. I challenge everyone to take action and live your best life now. Go for it and make that dream house purchase you’ve been talking about, start that business that has been burning in you, you have the power, and your power is now. This is an election year and for a fact, we are bound to see some dramatic changes, but don’t worry, be happy. The economy is very strong with record low unemployment rates. Last year we saw the longest economic expansion in the history of the United States. The 2019 housing market was also challenging. On one hand, there is an influx of millennials wanting to buy their first home, on the other hand, there is limited supply of homes for sale and even fewer new construction starts and prices are going no where but up. Baby Boomers aren’t moving out to give out a room to accommodate first-time homebuyers, which made the 2019 housing market very constrained. Mortgage rates have never been this low, which ultimately favors buyers. Current construction cannot possibly meet the demand which is why the 2020 housing market will have a similar outcome as 2019. Given that this is an election year, we do not expect increase in interest rates. 2020 might be the best year ever for interest rates and homeownership for first time Homebuyers. The Bureau of Economic Analysis released a report in the Q3 of 2019 which looks at the county’s growth by region and it is clear that the country’s economy is increasingly becoming concentrated in the large cities, leaving most rural areas at a great disadvantage. Of importance to note however is the fact that the country’s geographical GDP midpoint is moving more to the west. This is a story we have written about in much in detail so read on to find out more. Also, find out tips on how to build trust in your brand as a real estate agent. If you want to stay ahead of your competition, branding is important and that is why we want you to start the year strong, having all the tips to differentiate yourself. Still, on that note, your marketing efforts and your game plan matters a lot, one of the highly practical strategies is to employ the digital tools, one of them being a blog. Find out how you can start a successful blog in 2020. Perhaps the climax of this issue is the case against CFPB’s singe-directorship. Justice Brett Kavanaugh will be put to the test. Remember back in 2016 he ruled CFPB’s single-directorship as unconstitutional. Will he change? Read on to find out why I think he might not change his mind. Lastly, The Power Is Now Media continues to grow and this year, we are so proud to welcome new VIP Agents to our VIP Agents program. Find out what The VIP Agent Program is all about. As we usher in this new year, I want to thank you for your continued support and readership. We wouldn’t be here if it weren’t for you, and for that, we are thankful. We are dedicated to you and we want to see the best from you. Please take a moment and share this magazine, knowledge is power and the power is now. Have a prosperous month!

Eric Lawrence Frazier MBA CEO The Power Is Now Media, Inc.

Building trust in your brand as a Real Estate Agent


randing sets you apart from your competition. Your brand is your identity, and it plays an integral role in convincing people that there is credibility in what you are selling them. Most buyers or sellers or the investors are loyal brand shoppers, and this cuts across all dimensions and industries, whether soft drinks, shampoos, fashion clothing, and so many others, we all have our personal preferences, and we stick to them. Retention Science says that brand loyalty “has very 12


little to do with prices or money, but has everything to do with how your brand is perceived by the consumer, whether through promotional activities, reputation or their previous experiences with your company.” Successful realtors understand the importance of personal branding. It is important to drive a message of consistency that personifies who you are and that will resonate with your targeted audience. You have to effectively communicate your personal brand as well drive a positive “why choose me?” message,


which is very paramount to your personal brand growth. As we start the year, here are some important tips and tricks to make sure that your brand becomes a force to be reckoned with throughout the year.

Have a defined niche market One of the best ways to build and grow your brand in 2020 is to differentiate yourself, and have a defined niche market. Data show that there are more than 1 million real estate agents registered with the National Association of Realtors. This means that when a buyer or a seller or an investor wants help, there are a lot of people they can turn to. So how do you stand out?

this means that you have to crystallize your competitive advantage. Some real estate agents do this by differentiating themselves through their achievements, while others have outdone themselves when it comes to adding value. To get started, what are some of the phrases that you think describe you best? Condo expert? Or a luxury specialist? Also, identify some of the words that best describe your personality for instance; honest, driven, etc. it is also important to consider what your colleagues are doing in order to gain a holistic view of what is required of you.

Know and understand your audience and competition After you have a defined market area, the next thing you need to do is to define your target audience. This means that you need to arm yourself with knowledge and intelligence about what drives them to take a certain action. Know who you are talking to; their ages, gender, personality, and profession. Another thing you have to stress is knowing your client’s

When choosing your market area, consider what you have done in the past that made you stand out. The first step towards this is conducting a self-audit which ultimately helps you identify your strengths, weaknesses, purpose, values, and passion. The real estate world has become so fierce in terms of the competition and therefore, WWW.THEPINMAGAZINE.COM



pain points, after identifying that, determine the ways through which you could help them overcome these problems. Also, make a point to know your clients prefer their activities to be done, for instance, what is their preferred mode of communication. Basically, you have to know your client in and out. While learning more about your audience, make a point to also understand the dynamics of your competitors. The confidence in the real estate market has been rising, and now more than ever, there are so many buyers than there are sellers, which means more competition. To stand out, you have to gather intelligence on the people you are up against, then be better than all of them.

Leverage social media

brokers, buyers and investors who bring their ideas, market updates among many other things that would be of value to their target audience. The most part of maintaining an online presence is built around social media. Take an example of The Power Is Now Media, we have a well developed and solid Facebook page, twitter, and Instagram pages that are professionally accepted. When setting up your online presence, you need to understand that there is a fine line between being too open and being open enough.

Stand out as a real estate


As an agent, you need to have an online presence that resonates with your customers. Being online isn’t enough, you have to have an online presence and those are two very different things. A ma jor part of being online is making sure that you have a well built, maintained and up to date website. What most people don’t realize is that creating a website and then letting it sit there untouched will actually do them a disservice, making them look very unprofessional. You need to make sure that your website looks modern and includes updated data.

Become a VIP Agent today!

Apart from that, collaborate with other media outlets to make sure that you get your services out there. The Power Is Now is a media outlet that you can collaborate with through our special membership service called The VIP Agent Program. Our main objective is to work with real estate agents and brokers to bring market information and business opportunities to The Power Is Now Media audience of consumers and to help them achieve their real estate and financial goals.


There are so many other services and media outlets you can leverage to make sure that you are well advertised. For instance, active rain which is a community of real estate agents,




Works Cited




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Second Application Cycle Opens on January 13, 2020!


alHealthCares is now accepting applications for the new loan repayment program. This is a program that is meant to incentivize doctors to provide care to Medi-Cal beneficiaries by repaying educational debt up to $300,000 in exchange for a five-year service obligation. The application will be available on January 13th, 2020. all the awardees will be required to maintain a patient caseload of 30 percent or more Medi-Cal beneficiaries. The applications for the program will be accepted through April 26, 2019, for its inaugural cycle. The program is funded by the state tobacco tax (Proposition 56) revenue and its main purpose is to expand access to care for the Medi-Cal patients. Like previously mentioned, the 18


recipients of the student loan have to be recent graduates and should maintain a minimum patient caseload of at least 30% for five years. Another requirement for the awardees is that they must submit a business plan that demonstrates their ability to relocate, expand or even establish a practice in one of the specific counties determined to have the highest need for the MediCal dentists and be willing to commit to the program for 10 years. The program aims to increase access to care for California’s 13 million Medi-Cal patients. Proposition 56 is a measure that provided a one-time allocation of $220 million for the state loan repayment programs. The California Department of Health Care THE POWER IS NOW MAGAZINE | JANUARY 2020

Services has contracted Physicians for a Healthy California (PHC) to administer the program. In August, the program announced awards worth $10.1 million in student loan repayments awarded to 38 dentists. Loan repayments worth $57.3 million were awarded to 240 physicians.

Requirements for the awardees: • Have an unrestricted license and be in good standing with your licensing board (Osteopathic Medical Board of California or Medical Board of California) • Be an actively enrolled Medi-Cal provider without suspensions, disbarment or revocations; or have submitted an application to DHCS to become a Medi-Cal provider • Have graduated from a physician residency program and/or completed a fellowship within the past five years (on or after January 1, 2014)

scores. Given that the deadline for the application is on the 7th, this means that there is a narrow application window and applying early might allow the program organizers to address any problem areas with the applicants.

Reasons for ineligibility In 2019, applicants were deemed ineligible for a grant if (1) were found by DHCS to be not in good standing (e.g., were not enrolled in Medi-Cal or had an active suspension), (2) submitted an incomplete employer verification form or a form that included information that was inconsistent with information provided within the application, (3) were already enrolled in another loan repayment program at the time of application and (4) did not meet the graduation date requirement (student loan repayment grant applicants must have graduated no more than five years prior to application).

• Have an existing educational loan debt incurred while pursuing a medical degree

• Not currently be participating in another loan repayment program

The applicants who apply for the grant must:

• Practice in California

• Provide a well-researched business plan that documents their plans for establishing, expanding or relocating their practice to one of the highest-need counties listed on the application.

• If awarded, maintain a patient caseload of 30% or more Medi-Cal beneficiaries Those who wish to apply for an award in 2020 are encouraged to review materials, including the eligibility requirements and application instructions, and to also attend a live webinar or alternatively, watch a recorded one. All this is intended to help them improve their application WWW.THEPINMAGAZINE.COM

Required Business Plan

• Include in their business plan a general company description and information on products and services, economics, patients and consumers, personnel, equipment and supplies, and a revenue forecast or financial plan.



Of importance to note is the section on the patient caseload. This has been weighted the heaviest on both the award applications (20 out of 45 possible points for the loan repayment grant and 20/50 for the practice support grant) followed by the personal statement (10 points) and, for the practice support grant only, the business plan (10 points). PHC stresses that the applicants need to fill out both the current and proposed patient caseload tables and answer all questions in the two narrative questions: 1) How will they calculate their existing Medi-Cal beneficiary caseload and 2) How will they and their employer meet their Medi-Cal patient caseload.


The applicants of the 2020 application cycle will be notified of the awards on or around May 1, 2020. Find eligibility requirements, Q&As, recorded webinars and more information on the CalHealthCares website. Email any questions to Apply online through the website beginning Jan. 13, 2020. Here at The Power Is Now we continue to bring you the latest developments in the real estate market. We are committed to making sure that you are updated with what’s happening around you. We have partnered with First Bank to provide the products and programs that First Time Homebuyers need to buy a home now because tomorrow it will be even more difficult. Go to  and get started today. Eric Lawrence Frazier MBA Vice President and Mortgage Advisor of First Bank NMLS 461807 President and CEO of The Power Is Now Inc.

Works Cited ArticleId/28004/CalHealthCares-loan-repayment-programnow-accepting-applications








he real estate market is bustling with so many opportunities and honestly, there can never be an opportune moment to get into real estate than this. Andrew Carnegie once said that 90% of millionaires get their wealth by investing in the real estate industry. The global

real estate market is worth over 228 trillion dollars, which makes real estate the most valuable and popular asset in the world. But why is real estate so popular? Everybody needs a place to stay, and so long as that holds, there will always be a demand in the market. One of the top reasons people invest in real estate is to earn residual income, often


efore we get into the strategies that differentiate between successful real estate agents and investors, you need to understand that there are a dozen ways to invest in real estate business. Investing with the focus on cash flow leads to financial freedom and income that will safeguard your retirement life. Others may opt to buy an income-producing property, that provides say, $500 a month after expenses and mortgage costs have been paid off, that property can still be held for more than 30 years and if well maintained, it can still produce a significant income decades later. This makes the right time to invest in real estate. If you are a seller, the market is seller dominated, there is a very tight supply of housing starts in the market. Construction is not moving, it is stagnant, but on the other hand,



called cash flow. Cash flow is the income that you earn from an investment property after paying the expenses and any debt services. Given the tremendous benefits of investing in the real estate business, so many people have been inspired to get into the business, but not so many people make it.

the interest rates are very low, which means, there is an influx of buyers in the market. It is a win-win situation for both sellers and buyers. About 10 years ago, the housing market crashed and the United States went into recession, the prices of residential properties tumbled down. For years, houses were sitting at their lowest prices, seeing that, people hopped into discounted real estate market and 12 years later, they are now sitting on historic returns on their investments As stated previously, many people get into real estate but very few emerge victorious, the difference, marketing strategy. The one common trait among all successful real estate agents and investors is their expertise when it comes to marketing. One of the marketing tools that I need us to focus on today is a blog. But first, a solid marketing campaign acts as a


bridge between a business and its consumers and sets the pace and tone of a respective brand. Through your marketing, people get to know who you are, like what you do and respect your brand and business. Having a good real estate marketing plan plays a vital role in real estate investing. That said, a real estate marketing plan is really your best chance for growing and sustaining a successful business in today’s competitive market. Without a properly formulated marketing plan, all other tools simply won’t work, a blog or a website is one of them. With the popularity of blogging, it is only reasonable that you’d expect real estate blogs and websites to evolve. Pay attention and you will notice that blogs, and not just real estate blogs are growing at a very rapid rate, as they are a very effective and inexpensive marketing tool for real estate brokers and investors. The sad reality is that so


many are the agents that do not have websites or blogs. They shy away from blogging because they do not believe they believe that they do not have the time or even the ability to get the job done. Many agents are so focused on obtaining leads that they neglect the tons of people in the early stages who hop online to research the answers to their questions.

Importance of having a blogging it is not a wonder that homebuyers are no longer looking for agent’s assistance to find listings and open houses, why? The power of websites. However, they do need your assistance with the market research, local area knowledge, and advice on matters mortgage and interest rates. Therefore, one of the many ways to pass this information is having and maintaining real estate blogs that attract and



educate home buyers and sellers in your area. I like the idea of a blog as it asserts your reputation and credibility, which further translates into a valuable chance to get a closer engagement with your potential leads. Research shows that a large percentage of investors in real estate are those who fail within the first two years of real estate business. Therefore, from the start of your real estate business, you have at least two years to know your fate in the business. So what are some of the tips and tricks to make sure that you are in the 1% bracket of successful real estate agents?

Establish a solid market plan A market plan is a written guide that allows investors to promote themselves and their businesses. The guide explains what they are going to do, how they are going to do it, and who will be doing it. A marketing plan is the single most piece of resource that enables people to succeed in this diverse industry. “Your marketing foundation establishes credibility for your business,” says Than Merrill, FortuneBuilders. “That foundation compels other people to take you seriously—especially when you are new to real estate investing. As your marketing presence continues to grow, it will also generate referral leads from other real estate professionals.” Naturally, after having the marketing plan, I am thinking in the “how you are going to reach your customers” is through a blog, among so many other viable options. It’s so simple, set buy your own domain and get hosting service, like WordPress, Typepad, blogger and such.




Create a content schedule Now that you have a website or a blog, it needs to have content. It like starting a business, you have to develop a strategy before getting into action. You need to have content and create a schedule for your real estate blog which maps out your posts each week, month or quarter. Maintaining a blog requires discipline and consistency. If you are not posting content regularly, be sure to lose your audience, people are interested in newly updated content.

What should you be blogging about? You are halfway there, but not quite. Your blog is about real estate, not bodybuilding. So what should you be writing about? In real estate, there are dozens of topics you should be thinking about. You should be laser-focused and make sure that you are the go-to source for relevant, local content. Figuring what moves your audience requires a little research on your end. But, who is your audience? Answering this question can be a trick because there is a huge spectrum of options to think about. Your audience is not just people who are buying or selling in your area, but also people buying for the first or second or even the third time. Millennials or even WWW.THEPINMAGAZINE.COM

Baby Boomer families. Or even people looking for luxury. Most of the market areas will span several different audiences and demographics, therefore, your blogs should not be on the criterion, ‘one size fits all.’ pay special attention to what questions that your clients are asking, what people are searching for during their initial online search. Having this in mind gives you the best insights into what should be interesting to your readers. Write like a pro. In the word of Nike, just do it! I understand that one of the biggest hurdles in writing is getting started. When writing, you want your blogs to be catchy, easy to read, interesting and make people want to click for more. In a way, you are selling yourself, but it should be very subtle.

Promote your blog Writing is great. However, writing without putting your words in front of the right people will not get you anywhere. Your blogs won’t promote themselves, no matter how great they are. Social media is one of the best ways to make sure that your blogs are well promoted. You can pay to boost your blog’s reach and engagement. Add newsletter to your contact list with a weekly roundup of a couple of your latest blog posts. Works Cited want-to-start-a-real-estate-blog/



Make your clients’ next home purchase a “gimme”. Your clients can get pre-approved prior to contract, and then close in as little as 14 days. At First Bank, you’ll experience exceptional service. In fact, in a recent survey of clients, 96% reported that they would recommend First Bank Mortgage to a friend or family member. And unlike the pros who will be in town for the championship, your clients won’t be feeling the pressure of making a three-foot putt! If you know anyone who is looking for personal and professional service, I would be grateful for the referral.

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Eric Lawrence Frazier MBA Vice President & Mortgage Advisor Office: (800) 261-1634 Fax: (314) 264-0211 NMLS: # 461807



alifornia, the land of golden opportunities for most Americans has become a nightmare. Unaffordable housing costs are one of California’s most pressing challenges. Undoubtedly, the high housing costs in California are one of the

AFFORDABLE HOUSING primary drivers of the high poverty rates, ranked first among the 50 states under the Supplemental Poverty Measure, which accounts for the differences in the local cost of living. Heightening the crisis are the recent wildfires, as of the third quarter of 2019, the median price for a house tops $600,000, which is

Lack of affordable housing increases the likelihood of economic insecurity among California families. It also creates challenges for California employers who are striving to retain and recruit workers. When comparing the housing costs with the income, you will realize that housing affordability throughout the state, for a fact most Californians affected by housing affordability are renters with the lowest incomes. Policy solutions that are particularly aimed at those households represent a promising approach to tackling the state’s housing crisis strategically, with a focus on the deeply affected. 2019 saw the most housing legislation being passed in an effort to avert this crisis, but a move by the Department of Housing and Urban Development (HUD) is very encouraging.



more than twice the national level. California has four of the country’s most expensive residential markets – the Silicon Valley, San Francisco, Orange County, and San Diego. California accounts for almost 12 percent of the United States’ total population, BUT, a quarter this population is homeless.

HUD announced that it will invest $10 million to develop 538 affordable homes. This announcement comes in an effort to help more working families become homeowners. The $10 million will be awarded in grants to four non-profit housing organizations,


which are supposed to create at least 538 affordable homes for low-income families and individuals. HUD’s Self-Help Homeownership Opportunity Program, the grant along with the labor contributions by the homebuyers and volunteers, will lower the cost of construction, which in return makes homeownership a reality for the families who would otherwise not be able to afford a home.

insurance, utilities, and condo or mobile home fees (where applicable). To understand California’s housing affordability veracity, it is very important to consider these housing costs relative to incomes. If the housing costs are matched by the high income, then expensive houses may be affordable to many people. Even the relatively low housing costs may be unaffordable if the local incomes are also low.

“These non-profits receiving grants are making a positive impact in communities across the country through the strong partnerships they have formed between the public and private sector,” said David Woll, HUD principal deputy assistant secretary for community planning and development. “These grants, in conjunction with volunteer work and private donations, will help make the dream of homeownership a reality for more families.”

The four organizations that will receive the grants are;

Determining housing affordability requires careful consideration of both the housing costs and household incomes, which is something that HUD’s 538 houses should account for. For the renters, housing costs include monthly rental payments, plus the cost of utilities if they are not included in the rent. On the other hand, for the homeowners, the housing costs include monthly mortgage payments, interest payments plus the property tax, property


Habitat for Humanity International, Inc. The amount that the organization will receive is $5,421,011. This is a private, non-profit, ecumenical Christian organization that over the past assisted Habitat affiliates in building and rehabilitating more than 100,000 self-help homeownership housing units in partnership with low-income people in the U.S. since 1976. Its mission is carried out locally by an approximate 1,251 subordinate self-help homeownership housing organization within a specific geographic service area. The grant it gets will be used to complete a minimum of 289 SHOP units. The completed units will be sold to low-income homebuyers who have contributed a significant amount of sweat equity toward the construction of their homes.



Housing Assistance Council this organization will receive a total of $1,307,014. The organization is a national NGO self-help housing organization that will use its SHOP grant primarily in rural areas to facilitate and encourage innovative homeownership opportunities through the provision of self-help housing. Local affiliates have to compete for SHOP funding from the HAC. To do this, the affiliate has to come up with a plan that’s flexible design to meet the needs of the community. The grant awarded to HAC will be used to purchase land and make the necessary infrastructural improvements that support the new construction of the SHOP units. This grant is required to complete a minimum of 70 SHOP housing units.

Community Frameworks is another organization said to benefit from the program and will be awarded a total of $1,121,868. The organization is a regional NGO self-help housing organization that serves the states of Idaho, Montana, Oregon and Washington. The organization will make SHOP funds available to 16 affiliates to purchase land and make the necessary infrastructural developments that will support new construction and rehabilitation of the SHOP units. The amount awarded will be used to complete a minimum of 60 SHOP housing units.

Tierra del Sol Housing Corporation will receive a SHOP grant in the amount of $2,150,107. TDS is a regional housing community development corporation with the purpose of improving the quality of life and economic conditions of the low-income persons residing in distressed and underserved communities by providing affordable housing and community development through construction activities, lending, training, and employment opportunities. The grant award will be used to complete a minimum of 119 SHOP units.

But how did we get here? Simple. Bad government, from outdated zoning laws to the 40-year-old tax provision that only benefits long-time homeowners at the expense of everyone else. These laws have created a severe shortage of houses, while the problem has been cooking for a decade, I think it has reached its boiling point, but I like what HUD is doing. This fall, the President called out Democrats for the situation in California. Like HUD, giant Tech companies like Google, Apple Inc. and Facebook Inc. are throwing billions of dollars at the issue, however, the line has been drawn, it’s not enough!



“Broadly speaking, there is no solution to the California housing crisis without the construction of millions of new houses,” said David Garcia, policy director for the Terner Center for Housing Innovation at the University of California, Berkeley. Works Cited





ver the past five years Virginia housing market, like the rest of the nation has suffered through their worst decline in decades. New home construction and the sale of the existing homes have plunged significantly. As the market bubble burst, home prices plummeted. Virginia saw more than 100,000 homeowners losing their homes through foreclosures and billion of dollars of homeowner’s equity were lost. Like so many other areas in the country, the short term goal is recovery.



Although on a small scale, we are now seeing an uptick in sales, builder confidence, housing starts, and home prices. The Virginia housing market is slowly showing a sign of life. Buying real estate in Virginia, especially from Richmond can be a worthy investment opportunity. But before doing that, we need to make sure that you have all the information you need. Virginia Beach is the biggest city in the state, followed by Norfolk on the shores of Chesapeake. These are large and dense market areas that attract attention, however, for

an avid investor, Richmond is the city should be thinking about.

The Size Real Estate Market in Richmond Statistics show that Richmond is the home to roughly a quarter-million people. But, the Richmond real estate market is several times larger than this if you take into account the suburbs surrounding it. The real estate market in Richmond contains around one and a half million people making it the third-largest Metro area in the State of Virginia.


Appreciation Rates In Richmond The annual appreciation rates in Richmond over the past few years have been quite strong. The housing market is poised for a steady appreciation and price growth and increased competition in 2019. Which bring s the question, is Richmond going to be one of the hottest markets for investors this year? To answer this question, we have to dig deeper and to look at the latest Richmond housing market trends and find out the prospects of investing in the Richmond VA real estate in 2020.

Richmond Real Estate Market Forecast for 2020

median price of homes that sold is $238,900. The median rent for homes in Richmond is $1,385 which is lower than Richmond’s metro area of $1,395. Richmond Market forecast through 2021 The housing market in Richmond forecast for 2 years ending with the 3rd quarter ending 2021 shows a positive growth tra jectory, with an accuracy score of 88%. An estimate from LittleBigHomes. com shows that the probability of rising home prices in Richmond, VA is 88% during this period. Assuming that these predictions are right, home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018 and 2019.

Market Trends The real estate market trends

for Richmond, VA indicate an increase of $8,000 (3%) in the median home sales and a -7% drop in the median rent per month over the past year. During the same period, the average price per square foot rose to $180 up from $168. According to Trulia, the number of resales, and new homes for sale in Richmond, VA including also the open houses, and homes in the pre-foreclosure, auction or bank-owned stages of the foreclosure process were 854. The median sales prices for homes in Richmond for the months of May 1st through July 31 were $253,000 based on the 964 home sales. Redfin notes that the housing market in Richmond is highly competitive. Homes in Richmond, VA receive 1 offer on average and the average market days is 9 days.

According to Zillow, the median home value in Richmond is $237,536. The values have gone up 5.8% over the past year and it predicts that they will rise 4.9% within 2020. The median list price per square foot is $173, which is higher compared with the Richmond Metro’s average of $145. The median price of homes currently listed in Richmond is $273,642 while the




RICHMOND HOUSING MARKET STATISTICS reports 2,704 homes that are currently for sale, ranging from $4.6K to $10M. Additionally, there are 530 rental properties in Richmond with a range of $510 to $6.5K per month. June 2019 was a seller market in Richmond, which means, there were more buyers than active homes for sale.

Investing in Real Estate in Richmond, VA If you are looking to buy real estate in Richmond, you should know the best areas to invest in. One of the most important factors to consider when buying real estate is the location as it creates desirability, which in turn brings the demand. When looking to invest in Richmond, find places where you expect the property appreciation forecast to be positive, the running cost



should be as low as possible and the place must be safe. Most places in Richmond are safe, most areas are close to the basic amenities, public services, and shopping malls. Over the coming years, experts predict that there should be a natural and upcoming high demand for rental properties. If you think Richmond is the place to be, get in touch with Edward Corbett, a realtor working with Genesis Real Estate. Edward is a self-motivated professional with good organization skills, excellent time management skills, and an ability to effectively manage multiple projects simultaneously. He is a decisive leader with a proven track record of performance. Edward displays an outstanding ability in providing overall support for his clients, and business needs and a track record of building relationships with upper-level decision-makers. Edward is a seasoned realtor and knows his way in and around Richmond, VA. Get in touch with him today through his email Works Cited Central-Virginia-Richmond.htm


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.


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.


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.

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ast year on October 18, the U.S. Supreme Court granted Cert in Seila Law LLC V. CFPB to answer the question of whether an independent agency led by a single director violates the constitution’s separation of powers under Article II. The case will determine (1) Whether the vesting of substantial executive authority in the Consumer Financial Protection Bureau, an independent agency led by a single director, violates the separation of powers; and (2) whether, if the Consumer Financial Protection Bureau is found unconstitutional on the basis of the separation of powers,



12 U.S.C. §5491(c)(3) can be severed from the Dodd-Frank Act. Back on September 17, the Department of Justice and the CFPB filed a brief with the U.S. Supreme Court arguing that for-cause restriction on the president’s authority to remove the Bureaus single Director violates the constitution’s separation of powers, what that means is that the president cannot fire the CFPB director unless there is a valid cause. The previous decision made the director fireable at will, but that is not a cause anymore as the case continues to be challenged in Court. The law firm filed a petition

for a writ of certiorari with the court, appealing the May decision by the United States Court of Appeals for the Ninth Circuit, which maintained that (i) the Bureau’s single-director structure is constitutional, and (ii) the district court did not err when it granted the Bureau’s petition to enforce the law firm’s compliance with a 2017 Civil Investigative Demand. While the Bureau previously defended the single-director structure to the 9th circuit, the brief notes that since May when the decision was made, “the Director has reconsidered that position and now agrees that the removal restriction is unconstitutional.”


The president’s inability to fire the CFPB director hinders the federal laws from being faithfully executed, but the DOJ urged the court to deny the writ as the case was a poor vehicle for the constitutionality consideration. In contrast to the December brief, the DOJ now avouch that the present case is a “suitable vehicle for resolving the important question,” noting that only constitutional question was presented to the court.

It may sound bad, it may bring democracy It is not the first time that Brett Kavanaugh will be answering


this question, he has done it before, as part of a threejudge panel on the D.C. Circuit in 2016 where Kavanaugh wrote the ma jority opinion that the CFPB’s single-director structure was unconstitutional. The entire D.C. Circuit reheard the case in 2018 and upheld the ruling of CFPB’s structure. However, that was a very different case involving a financial firm called PHH, and now it would be a surprise if Kavanaugh recuses himself from the Seila Law even though the case revolves around the same issue. It is expected that the court will follow suit, making the same decision made by Kavanaugh in 2016. A decision

that will give the president to fire the CFPB’s director at will. This may sound harsh, but given the current context, it may be a good thing. It would mean that any democratic administration wouldn’t be stuck with an anti-regulatory director in place, until 2023. Seila Law is involved in debtrelief services and it received a Civil Investigative Demand (CID) from the CFPB seeking information on potential telemarketing violations. However, upon receiving the CID, Seila Law contested arguing that the agency’s structure made it unconstitutional. It lost the case in the 9th Circuit Court of Appeals which followed the



precedent of the D.C. Circuit’s en Banc. The CFPB’s structure was intended to insulate the watchdog’s director from the shifts in political dynamics, giving them a full 5-year term to carry out their mission. However, that structure never set a precedent. The idea of having constitutional bodies with a single-director leadership would come as news to the FHFA, the Office of Special Counsel, and the Office of the Comptroller of the Currency, all of which have the same setup. There is an 80-year-old Supreme Court precedent stating that the president cannot fire members of the FTC at will. In the past, the argument that made CFPB unconstitutional has consistently lost in the courts, except when Kavanaugh panel was in the seat. However, in the ruling, Kavanaugh’s remedy was not to dissolve the agency, but rather, he proposed the



director should be changed at will. The CFPB will still be able to function in the same way it was designed to, but according to Kavanaugh, “will do so as an executive agency akin to other executive agencies headed by a single person … the President now will be a check on and accountable for the actions of the CFPB.” No further president will be able to dislodge Kraninger from her post without cause until the end of her term. However, supposing that the Court follows Kavanaugh’s prescription where a democratic president terminated the term of a CFPB director, Kraninger’s post would be at risk nearly three years before her term is over. There is a potentially ominous warning in the direction of the Supreme Court’s ruling, the court asked the respondent to prepare briefs on the question; “If the Consumer Financial

Protection Bureau is found unconstitutional on the basis of the separation of powers, can 12 U.S.C. §5491(c)(3) be severed from the Dodd-Frank Act?” in simple terms, the Supreme Court wants to know whether the Dodd-Frank Act should be severed along with the CFPB. The most likely scenario is that a ruling follows Kavanaugh precedent, which makes CFPB directors answerable to the president.

Works Cited supreme-court-to-determine-cfpbconstitutionality-in-march/ detail.aspx?g=486f0340-722d-47149135-8391bedd90c8 supreme-court-to-decide-66793/




en years ago, Greece fell on its knees and surrendered to probably one of the worst debt crisis the country will ever face. A crisis that threatened to sweep away most of its economic, social, political and economic progress it had achieved after gaining its democracy from the military dictatorship in 1974. Greece’s economy fell sharply by a quarter, unemployment rates soared pushing Greece to almost crash out of the Eurozone. The crisis ultimately tore the very essence of society



and demolished one of the two political parties that have alternated in power since the return of civilian rule. In its annual assessment of the Greek economy in 2017, IMF noted that Greece should deepen and accelerate reforms, which together with the debt relief, are needed to allow the economy to return to a sustainable growth path. Undoubtedly, the country has made remarkable progress in reining in its fiscal and external deficits, despite this being a very heavy burden on society. The journey to recovery began roughly four years ago, under the


Today, on the face of so many things, the emergency is very much over and Greece’s economy is bright. The authorities have lifted capital controls, which were imposed about 4 years ago. The 10-year bond yield touched an all-time low in July last year and consumer confidence is at its highest since 2000. one of the most impressive aspects of Greece’s recovery is the resilience of its democracy. Most people [outsiders] claimed that at the onset of the crisis, Greece was at risk of succumbing to the rightwing extremism and even becoming unmoored from the western alliance system.

leadership of Prime Minister Alexis Tsipras and his Syriza party. The country has been inching back on a positive growth tra jectory. Populist movements lost their impulse, and the country’s relations with its neighbors and allies have since improved. Despite his remarkable efforts to restore Greece, Tsipras successes didn’t translate to popularity. On July 8th the country woke up to the news that the opposition leader Kyriakos Mitsotakis and his center-right New Democracy party had defeated Tsipras in a landslide. Even though the Tsipras era might have catalyzed Greece’s recovery, the country is still far along on the recovery road. The challenges ahead remain to be huge, but there is still an occasion for optimism.


U.S. Secretary of Commerce Wilbur Ross referred to the Greek economy’s impressive return to a path of growth during a speech at an event held in the context of the 21st Annual Capital Link Invest in Greece Forum in New York on Tuesday. The secretary was speaking at a dinner held to present the “2019 Capital Link Hellenic Leadership Award” to a prominent investor John Paulson. Thanking Greece’s prime minister, Mr. Ross noted that Greece’s pro-investment policy has significantly contributed to this marvelous success. “None of these positive results are a coincidence. Everything reflects the Mitsotakis government’s entrepreneurial policies,” he said. The secretary also noted that he was looking forward to welcoming the Prime Minister to Washington, as Mitsotakis is scheduled to meet U.S President Donald Trump on January 7 at the White House. Mr. Ross described Greece’s recovery through a series of economic indicators. At the same time, he was very optimistic about the future of Greece stressing that Athens must remain committed to the



reform effort. “Following a deep and protracted contraction, growth has finally returned to Greece. The large macroeconomic stabilization effort, structural reforms, and a better external environment contributed to an increase in real GDP of 1.4 percent in 2017, helped also by substantial support from European partners, which secured medium-term sustainability and restored market access.” IMF 2018 Annual Assessment report noted. According to the report, the recovery is projected to strengthen in the near future. Unemployment has declined as the output gap closes. However, the external and domestic risk is tilted to the downside, including from slower trading partner growth, tighter global financial conditions, regional instability, the domestic political calendar, and risks of reform fatigue. The secretary of commerce referred Greece’s upgrading by international rating agencies and didn’t hesitate to predict that Greece’s credit profile could improve even further in the next two years if the government continues with its reform efforts. Mr. Ross termed the growth performance as



impressive, given that the Greek economy still carries the burden of producing high primary surpluses of 3.5 pct of the GDP. In this context, he referred to other EU member states that are experiencing growth difficulties, despite the stimulation of their economies due to large primary deficits.

Works Cited greeces-new-groove




s a person working in the mortgage industry, most probably, you already have a clear picture and unpleasant memories of the great recession of 2008. The first and obvious signs of the recession were amiss and actually took place two years ago, 2006. This was the time that the housing prices started to decline. In August of 2007, the federal reserve added $24 Billion to the banking system and by September of 2008, the congress approved $700 billion to bail out the banks. For most people, this was a time that they will never forget. Mortgage rates will remain low in 2020. Affordability will remain a huge problem for the homebuyers and Baby Boomers will remain in their homes and build equity that 48


they won’t borrow from. However, people will be preferring to buy into conventional loans, rather than continuing with the norm, buying from FHA. In most places, the real estate market will be dominated by the sellers, the first time homebuyers will be particularly at a disadvantage because there aren’t enough starter homes to go around. For a fact, the mortgage industry’s cycles are very dynamic. The business tends to face the same risk over and over again. In today’s market, liquidity, credit, operations, and compliance tend to be the key risk which the mortgage lenders have to manage on a daily basis. So, what should we be expecting all year long? THE POWER IS NOW MAGAZINE | JANUARY 2020

Mortgage rates will remain low Mortgage rates are expected to remain around the same low levels all through 2020 as 2019, when they averaged about 4% APR, according to the data provided by the NerdWallet daily survey of the national mortgage lenders. Data from Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors predicted that the mortgage rates will end 2020 within a quarter of a percentage point higher or lower of where they end in 2019. Inflation will also remain mild, trade tensions will ease and the Federal Reserve will cut shortterm rates once or even twice. Generally, we should not be expecting any turbulent winds through 2020 despite it being an election year, in fact, that should be the reason why we should not expect much movement in the mortgage rates.

Buyers will have a very hard time finding homes There is already a housing shortage in the country. The low inventory is expected to continue through 2020 and even beyond.


“Inventory could reach a historic low as a steady flow of demand, especially for entry-level homes, and declining seller sentiment combine to keep a lid on sale transactions,” according to Realtor. com’s 2020 forecast. There are simply not enough homes being built to house young adults who want to move out and live on their own. According to the census bureau, a little over 2 million households were expected to be in supply in 2018, yet builders began their construction on just 1.25 million housing units that year. Even if there are housing units, their prices are not suitable for first-time homebuyers.

Sales will stagnate Mortgage rates are very low which favors the buyers, and on the other hand, there is an influx of buyers that favors the sellers, but 2020 will see sales stagnating. The problem isn’t only a shortage of homes for sale, it is also problem affordability. The potential buyers outnumber the sellers of homes costing between $150,000 to $400,000 and the opposite is true for the homes costing over $500,000. For the homes falling in the $400,000 and below



the bracket, the supply roughly equals the demand. In most states, the house affordability crunch has sidelined most first-time homebuyers. In 2019 and 2018 alone, the first time homebuyers accounted for 33% which is below the historic average of 39% achieved in 1981. NAR expects an increase in home sales in 2020, however, not because of the big supply of low priced homes, rather sales will accelerate because of the low mortgage rates and rising incomes.

Homeowners will stay, not sell Another trend that you will see in 2020. According to Redfin, a typical homeowner stays in their homes for 13 years. In 2010, a typical homeowner stayed in their home for eight years. Earlier, people used to move every six to seven years because of a change in life, for instance having children and needing a bigger home, or even getting a new job. However today, people are not citing those as reasons to move. In 2019, however, the most commonly cited reason for selling a home was to move closer to friends and family according to a survey done by NAR. If that remains to be the top reason why people will move out, people may not be in a hurry to make it happen. Baby Boomers are not moving out, therefore Millenials 50


will just have to wait for the Gen Xers to move out.

Borrowers have a broader selection of the FHA Lenders FHA Loans are becoming unpopular and big banks are cutting back on underwriting FHA loans over the past few years because of the perception that the federal government punished the banks severely when they made errors. To fill that gap, non-bank lenders had to step in. However, in an effort to encourage big banks to resume FHA lending and provide competition, the Department of Justice and Housing and Urban Development have announced that they will “ensure that the severity of certain violations is matched with the appropriate remedy.�

Works Cited


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report from YardiMatrix last month shows that 2019 was a solid year for the multi-family real estate. The demand for multi-family housing remains high across the united states. Although the winter seasonal slowdown clipped $3 off the average rent in the month of November, rents were up 3.1 percent Y-O-Y, rent growth exceeded 3 percent since the spring of 2018 because of the strong and consistent demand. The report from Yardi projects seasonal rent growth slowdown to extend through the first few months of this year. Early 2019, Freddie Mac’s multi-family research found that the performance of the multi-family market remained very healthy during 2018, that holding true despite the high levels of new supply entering the market. It was expected that the trend would continue into 2019, but with some more modest growth in comparison to recent years. Could it be that 2020 market behavior will be a replica of 2019? more than 320,000 new multi-family units have already been absorbed so far in 2019, making it the sixth year with at least 52


250,000 new multi-family units absorbed. Seattle, Denver, and Dallas had the highest number of multi-family absorption, followed by Houston, Austin, Texas and Washington D.C. “Fundamentally, occupier demand is strong, and rents continue to grow in most segments,” the report said. “Meanwhile, property values are at all-time highs and debt markets are functioning smoothly, with healthy deal flow and few delinquencies.” In the 3rd quarter of 2019, multi-family vacancy fell to 3.6% down 40 basis points from 2018. This is the lowest level since 2000, according to another report from the CBRE. Judging by the two reports, it looks like 2020 will be another

good year for the multi-family market as renting is not an option for most people. Of the top 30 metro markets, those in the Southwest and West have seen the strongest Y-O-Y rent growth. Phoenix records the highest rent growth at 7.5%, followed by Las Vegas at 6% and Sacramento at 5.3%. In the Southeast region, Raleigh and Charlotte, N.C., led at 4.6% each. The high growth market in the Midwest included Indianapolis at 4% and the Twin Cities at 3.7%. San Jose saw the lowest rent growth recording a YOY at 0.1%, followed by San Francisco and Houston, both at 1.4%. Another report from Zumper notes that 32% of the respondents said that


they do not believe the American dream includes homeownership, and 20% said they do not plan to buy a home in their lifetime. “Overall demand in all of these markets remains extremely high, and none have extreme winters, so the pattern doesn’t have an obvious explanation,” the report said. “Rents may be affected by new deliveries that tend to come online in the fall. Job growth and in-migration continue to be strong in the Pacific Northwest, so we would expect rent gains to picking up again in the new year.” On the national level, rents rose by 0.1% on a trailing three month (T-3) basis, which compares the last three months with the previous three months. In 18 of the top 30 markets, rent growth was flat or negative by this measure and flat nationally overall. Leading the market in T-3 rent growth at 0.4% where the counties of Orange County, California, and Phoenix, while San Jose (-0.8%), as well as Seattle and San Francisco (-0.4%), fell fastest. Overall, warm markets saw the highest growth while the tech-centric and gateway markets saw declines. For almost a decade now, commercial real estate’s


positive cycles have held, with strong occupier demand and strong rent growth in most of the market segment. The property values are at their highest value, debt markets are functioning while the deal flow is very healthy. However, despite this Yardi says there is fear about the uncertainty of recession. Underwriting is very tight and the margins of error are very narrow and the high-risk assets are not generating many premiums to investors. Instead, the rates of the short-term bond have topped long-term rates recently, which going by the historic standards have precluded a recession. The GDP growth has waned, the tax cut stimulus has faded. With the trade tensions, business investment across the US is struggling and the supply chain uncertainty ongoing. This comes amidst the high consumer confidence, a tight labor market, and growing

wages. Yardi notes that some of the catalysts for an economic downturn may include corporate debt which has grown, a global economy that has been weakened by the national market, or even the ongoing uncertainty, more so given the presidential elections that are upcoming. For now, the economy is projected to expand at a 2% -plus the real rate.

Works Cited property-management/rent-trends/ yardi-multifamily-housing-wraps2019-with-3-1-yoy-rent-growth-innovember_o articles/multifamily-housing-marketwrapping-up-2019-on-a-strong-note/



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. 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.

Profile for The Power Is Now Media Inc.

The PIN Magazine - January 2020  

The PIN Magazine - January 2020