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JULY 2020 Vol. 07 | Issue 7

CALIFORNIA

HOUSING MARKET REPORT Page 18

WHAT IS PAYMENT DEFERRAL DURING COVID-19 Page 35

INDEPENDENCE

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Page 134

NIKKI CHU INTERIOR DESIGNER

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

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The PIN Magazine™ is owned and published electronically by The Power Is Now Media, Inc. Copywrite 2020 The Power Is Now Media Inc. All rights reserved. “The PIN Magazine” and distinctive logo are trademarks owned by The Power Is Now Media, Inc. “ThePINMagazine.com”, is a trademark of The Power Is Now Media, Inc. “Magazine.thepowerisnow.com”, is a trademark of The Power Is Now Media, Inc. No part of this electronic magazine or website may be reproduced without the written consent of The Power Is Now Media, Inc. Requests for permission should be directed to: info@thepowerisnow.com

CONTENTS POWER TECHNOLOGY Pg. 24. Financial institutions guide to cyber security Pg. 26. COVID-19 suspends open houses as agents pivot to virtual tours

POWER GREEN Pg. 8. The 2020 guide to presidential candidates on climate change Pg. 12. Understanding the LEED certified state buildings POWER ECONOMICS Pg. 14. It is possible to see a 30% increase in unemployment rates in Q2, 2020 Pg. 16. Goldman predicts unprecedented decline in economic activities with Q2, 2020 expected to contract 24% POWER REAL ESTATE Pg. 18. California housing market report and predictions for Q2, 2020 POWER LENDING Pg. 22. In letter to FED and Treasury, Waters presses for emergency lending programs not to support predatory lending 4

VIP AGENTS Pg. 30. Homes have never been this important Pg. 35. What is payment deferral during COVID-19? Pg. 38. How the Cares Act will help us agents and brokers Pg. 40. The power of technology to work with clients virtually Pg. 44. How NHPS is working with Municipalities to deploy assistance programs Pg. 47. Looking to buy in the Inland Empire? Talk to Frazier Realty Group first

Pg. 50. Nikki Chu talks space style up

Pg. 56. The common mistakes real estate agents make you should avoid Pg. 60. The red flags veterans and military homebuyers should be aware of when buying a home Pg. 63. A spanshot of the Riverside real estate market Pg. 65. If you thought Coronavirus would save the housing market, you were wrong. House prices are still rising! Pg. 68. Oalkland housing market insights Pg. 72. Working from home could crater the extensive Bay Area housing market Pg. 75. Sacramento housing market insights Pg. 79. These 5 factors will influence your Home Resale Value Pg. 82. San Francisco housing market insights THE POWER IS NOW MAGAZINE | JULY 2020

Pg. 86. Be cautious of buying a home with sight unseen Pg. 91. Los Angeles housing market forecast and trends in 2020 Pg. 96. Tips to increase your credit score quickly and buy your first home Pg. 98. Virtual home touring? No problem, but make sure you ask the right questions Pg. 102. The real impact of Coronavirus on the housing market in New Jersey Pg. 106. Helping you master your special Pg. 108. Snapshot of the Ohio real estate market Pg. 112. Minnesota: Minneapolis, MN real estate market trends and analysis Pg. 118. Menifee area housing prices and home value trends and predictions POWER LEGAL Pg. 122. Monster Loans ordered to repay $18 million to cheated customers Pg. 124. Waters urges Congress to pass the

Heroes Act POWER MORTGAGE Pg. 126. CFPB orders specialized loans servicing to pay $1.5 million for foreclosure issues Pg. 128. 8.8% of the US mortgages are in foreclosure POWER HEALTH Pg. 130. Undocumented seniors are at a high risk of contracting COVID-19. Hereâ€™s why POWER COMMUNITY Pg. 132.California black newspapers wins hundreds of thousands in Facebook grants POWER HISTORY Pg. 134. Independence day and what it means to be independent

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FROM THE EDITOR about every state in the US and much of it has been born out of the George Floyd protest, people not adhering to social distancing and many states opening back up too soon. COVID 19 is going to be around for a while so look for more change to occur on how people shop for real estate and how the real estate professional is changing to serve buyers and sellers.

ummer is in full swing and I am excited and crazy busy as a mortgage advisor helping people obtain the financing they need to buy a new home. July represents the beginning of the real estate buying season and things are about to heat up. July through September is that time that real estate activities all around the country are heightened, and sellers, buyers, and real estate professionals step up their marketing and networking to get their share of the business. Need an agent? Check out our VIP agent program on our website at www. thepowerisnow.com and find the help you need. Selling and buying real estate this summer will be different because of the Coronavirus pandemic. In fact, COVID 19 is back on the rise in just

The death of George Floyd has America WOKE to systemic racism and police brutality. The protest rivals and maybe exceeds the March on Washington and the Civil Rights movement in the sixties. Police brutality is not new in this country, it has always been here with us, but this is the first time in history that all people, white and black are condemning it in the strongest terms possible. This is the revolution that the United States needed. A revolutionary movement against injustices, racism and bigotry. If you listen closely to the protests, you will realize that they only need one thing; to be treated like we are human beings. Regardless of our station in life or the color of our skin, Black people should be afforded the same respect as everyone else. Black Lives Matter because this has not been the case and now is the time to make the case to America and to the world. What is disheartening is the response from our government. Rather than encouraging dialogue and acknowledging the problems, peaceful protestors have been met with violence from the police. Violence begets violence and no one wins. This movement is going nowhere but up and now has an international stage to make the case that Black Lives Matter. The economy is contracting sharply, and a second GDP estimate confirmed that the economy contracted at the sharpest level since the first quarter of 2008. The data for the second quarter paints a dire picture of the economy. Unemployment rates are skyrocketing, and jobless claims are topping over 40 million. The effect of this is something the country cannot afford to entertain or fully comprehend the ramification of it all in the future. Coupled with the containment measures and flaccid consumer sentiment, the impact will be severe for the county. Most states have reopened but in the last two days started reclosing bars and beaches again. The potential backlash from a second wave of the COVID-19, coupled with small businesses going out of business anyway, because they have been uncapitalized from day one, is a reality that no one is talking about. Some businesses are more vulnerable than

THE POWER IS NOW MAGAZINE | JULY 2020

others. The real unemployment numbers are staggering when you count people who have given up completely because there are not enough small businesses with blue collar jobs for work. Even with billions in paycheck protection stimulus money and SBA business loans, we are not seeing consumer confidence in the economy improve. No one is spending any money because they are uncertain about the future. Now we have trillions of new debt added to the US Treasury balance sheet and faltering economy. I believe we are in serious trouble. Save your money, pay off all debt and downsize. You may be living on your savings for a while. On to some good and familiar news, Nikki Chu is our cover on this issue. Nikki, for those who don’t know her, is a celebrity designer, best known for her show, Unboxing with Nikki Chu on Aspire T.V. She is a phenomenal woman and a true inspiration for all young ladies looking to enter the design industry. Read more about Nikki in this issue. We’ll also take a deeper look into the real estate

developments in the country, and the nuts and bolts that make up this industry so diverse. There’s something for everyone. Peruse through the pages of this issue, expecting to learn something new, and you won’t be disappointed. At this moment, I would like to thank our power team for their continuous hard work and dedication to the company. We would be nothing without you. And to our readers, thank you for your continued support. Our team is dedicated to inspiring you and educating you. We want the best for you, so we are committed to bringing the best of us. Please take a moment and share this magazine. Knowledge is power, and The Power Is Now. Have an awesome and prosperous month. ERIC L. FRAZIER MBA President and CEO The Power Is Now Media, Inc.

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6/29/2020 3:03:55 PM

THE 2020 GUIDE TO PRESIDENTIAL CANDIDATES ON CLIMATE CHANGE

The fight for climate action has been on for centuries. As we progress into the future, the situation seems to be changing drastically for the better. Americans are getting more enlightened about the importance of a safe and clean environment away from any form of pollution.

he climate action campaigns are picking up momentum even as the country is set to conduct the presidential election this year. Something is different with voters this time around. One of the key issues that voters are highly considering on the manifestos is the climate change action the candidate is planning to take. In response to this, climate change is getting unprecedented attention from many of the 2020 presidential contenders. According to the Yale Program for Climate Change Communication, 69% of voting-age Americans are worried about climate change, while about one third say that they are extremely worried. This is the highest ever recorded percentage in America. The threats posed by the rapid global warming and heavy fossil fuel pollution is for sure overwhelming, and it needs someone to address the issue.

“We can help people economically and create a greener economy at the same time,” says Sam Deese, an expert on global environmentalism and a senior lecturer in social sciences at Boston University College of General Studies. “And if we are going to put a price on carbon and incentivize energy that is not from fossil fuels, then we’re ultimately going to have to do it on a global scale.” In his book, Climate Change and the Future of Democracy, Sam argues that the ongoing climate crisis requires a democratic response globally. However, that is faced with difficulties from the resurgence of nationalism

THE POWER IS NOW MAGAZINE | JULY 2020

that is going on in the U.S and everywhere else on the globe, blocking the international collaboration required to propel climate change action. With the 2020 presidential campaign in full action, so is the conversation on how the country is expecting to usher in new leadership that will come with climate change action that will help get humanity back on track through strategic climate mitigation plans. On the political side, the Democrats and the Republicans seem divided on the climate action issue.

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All candidates from the Democrats have climate change plans while their counterparts have no climate have none. This is the first time the liberal Democrats have ranked global warming as the number one most crucial issue. To add on that, you should note that every candidate under Democrats signed the “No Fossil Fuel Money Pledge.” The pledge was to “not knowingly accept any contributions of over $200 from PACs, lobbyists, or SEC-named executives of fossil companies whose primary business is extraction, processing, distribution, or sale of oil, gas, or coal.” While this was happening, none of the Republican candidates signed the pledge. As a voter, you can see which side has your matters at heart. “All of Democrats seem to have their heart in the right place about this,” says Deese. “I’ve been comparing their statements on climate change, and it seems that all of them are committed to the carbon-neutral United States by 2050 with different approaches to getting there.” Each of the candidates contending for the presidential seat has its climate change plans geared towards ensuring an economy free from fossil fuels and other heavy pollutants.

How 2020 Democratic presidential candidates plan to fight climate change We are going to list all 2020 presidential aspirants and the plans they have to boost climate action. 1. Sen. Michael Bennet. Bennet’s plan aims at achieving 100% net-zero emissions and reducing energy waste by half before 2050. His climate plan also features several 2030 goals, such as conserving at least 30% of the American land and waters by 2030 and establishing a climate change challenge to encourage individual states to come up with climate plans. Bennet’s plan also features creating a climate bank to deploy $1 trillion in federal funds to allocate $10 billion in private sector innovation for clean energy. However, despite Bennet’s climate plan, Greenpeace gives him a D+ on climate change stating that he is a long way behind on matters concerning leadership for climate action.

Other Democrats presidential aspirants who have laid out their climate plans include; Michael Bloomberg, Pete Buttigieg, Rep. John Delaney, Rep. Tulsi Gabbard, Sen. Amy Klobuchar, Tom Steyer, Sen. Elizabeth Warren, and Andrew Yang. It is the high time that America chooses a leader that will have climate action at heart. This is for the health and safety of the Americans and the coming generations. It is the high time that we vote wisely for our benefits and the benefit of our children.

2. Joe Biden. Biden’s climate plan targets to achieve a 100% clean energy economy with net-zero emissions by 2050. He also aims to recommit the U.S to the Paris Agreement on climate change and lead efforts to get the other ma jor countries to take climate change action. Greenpeace gives him a B+ on climate change since he has not committed to wholly banning new fossil fuel drilling on public lands and waters. 3. Bernie Sanders Sanders has a new comprehensive Green Deal that aims to invest $16.3 trillion and declare climate change a national emergency. The investment will be allocated to the Green Climate Fund and Climate Justice Resiliency Fund to aid in recovery and preparation for climate impacts. Sanders Green Deal targets to ensure 100% decarbonization by 2050, reduction in domestic emissions, and a 100% transition to renewable energy by 2030. Greenpeace gives Sanders an A+ for his Green New Deal and his commitment to eliminate the fossil fuel industry. 10

Works cited https://earthmaven.io/planetwatch/climate-politicspolicy/2020-guide-to-presidential-candidates-onclimate-change-vPbFiiUFXEe1CyZdVjWPwQ. https://www.nrdcactionfund.org/climate-change-andthe-2020-presidential-candidates-where-do-theystand/. http://www.bu.edu/articles/2020/climate-policypresidential-candidates-ranked

THE POWER IS NOW MAGAZINE | JULY 2020

Understanding the The demand for buildings with better sustainability continues to grow across the U.S. as time passes. Property managers are required to understand and take responsibility for the environmental performance of their facility. Most property managers are compelled to do this with the growing environmental legislation’s combined forces, and the shareholder and tenants demand a reduction in environmental impacts. The best way to analyze and report your building’s sustainability performance is through the LEED certification.

LEED CERTIFIED STATE BUILDINGS

EED (Leadership in Energy and Environmental Design) certificate is an internationally recognized green building certification system. It verifies that a building or community was built using strategies targeting to improve performance across the crucial metrics such as energy-saving, water efficiency, reduced CO2 emissions, better quality indoor environment, stewardship of resources and sensitivity to their impacts. The certification was developed by the U.S. Green Building Council (USGBC) to set a benchmark for design, construction, maintenance, and operation of high-performance green buildings and residential places. According to USGBC, Green building is “the practice of designing, constructing and operating buildings to maximize occupant health and productivity, use fewer resources, reduce waste and negative environmental impacts, and decrease life cycle costs.” LEED is flexible enough to suit all types of buildings, whether commercial or residential, throughout the building cycle, to design and construction, operations, maintenance, tenant fit-out, and significant retrofit. The certification process targets to reward sustainable and eco-friendly plans evident in your construction process. It attests to your customers and other stakeholders that you have achieved certain environmental goals in your design and construction process. A LEED-certified building project can qualify to get specific incentives from the state and local government and boost press interest in your project.

AVAILABLE LEED RATING SYSTEMS

The latest LEED rating system comprises of five distinct areas that address multiple projects. These areas are; • • • • •

Building Design and Construction Interior Design and Construction Building Operations and Maintenance Neighborhood Development Homes

The five areas are further broken down to smaller units which are awarded points which are used to categorize them under the following categories; • • • •

40-49 points— Certified 50-59 points— Silver 60-79 points— Gold 80+ points— Platinum

Also, note that the rating system can be used in both new and existing buildings. Your project also must meet certain criteria and goals for it to earn the points stated above. The mandatory criteria and goals fall under the following categories; a. Location and transportation— consider the location of your project and how it will blend with the transportation means. Ensure there is a precise method in which users will get in and out of the facility. b. Materials and resources— using sustainable, eco-friendly materials in your project to reduce environmental impact and ensure indoor air quality is a sure way to earn you credits. c. Water efficiency— the structure must be designed in a way that reduces water usage through reusing to minimize the needs of water in the building. d. Energy and indoor atmosphere— the building must enhance energy performance while ensuring a quality indoor atmosphere. e. Sustainable sites— your project should have the most minimal impact on the surrounding ecosystems. f. Innovation— including ideas that are not covered by LEED’s main five areas is a plus for you. g. Regional priority credits— addressing any concerns based on the regional or geographical location will also earn you credit. WWW.THEPINMAGAZINE.COM

WHY CERTIFY WITH LEED

Achieving a LEED certification demonstrates environmentally responsible building practices. This largely promotes the image of both the contractor and the building owner, who choose to build a LEED-certified structure. Besides the public relations, LEED certification also comes with incentives. USGBC states, “LEED buildings have faster lease-up rates and may qualify for a host of incentives like tax rebates and zoning allowances. Not to mention they retain higher property values attracting more commercial construction companies to the field.” For home building companies, having a LEED certification helps you sell faster and at a higher price. Homebuilders who have constructed LEED-certified homes can also get tax credits. Also, there are reports that LEED can help a construction company remain productive and profitable in times of low demand. Eco Brooklyn INC states, “The growth of LEED-certified buildings also seems to be recession-proof. Despite a precipitous decline in new construction because of the bursting of the real-estate bubble, the total square footage of LEED-certified buildings grew by 14% in 2019.” At this point, as a home builder, you know what to go for in your next project to keep up with the dynamic market forces and regulations. For home buyers, you should ask for a LEED certification from the home seller as it is proof of the quality of the home. In this way, we will have quality lives through sustainable homes, workplaces, and peaceful coexistence with our surroundings.

Works cited https://www.ebpsupply.com/blog/what-is-leed-certification https://www.thebalancesmb.com/understanding-the-leedcertification-basics-844729

The impact of the novel coronavirus continues to persist, putting millions of jobs at risk of layoffs despite having led to the loss of millions of other jobs already. The figures are expected to continue growing as authorities continue to announce stricter public health measures. In March, Gray & Christmas, an outplacement firm Challenger, estimated that more than 9 million jobs from the leisure and hospitality industries alone were affected by restaurant and bar closures in the U.S.

IT IS POSSIBLE TO SEE A 30% INCREASE IN UNEMPLOYMENT RATES IN Q2, 2020

anet Yellen, former Federal Reserve Chair, told CNBC on April 6 that the economy is in the throes of an “absolutely shocking” downturn that is not reflected yet in the current data. She added that if it were, the unemployment rate probably would be as high as 13%, while the overall economic contraction would be about 30%. “If we had a timely unemployment statistic, the unemployment rate probably would be up to 12 or 13% at this point and moving higher,” Yellen stated in a CNBC “Squawk on the Street” interview. She added that gross domestic product is down “at least 30%, and I’ve seen far higher numbers.” Records show that a total of 10 million people filed first-time unemployment claims during the last week of March and the first week of April. Nonfarm payrolls dropped by 701,000 in March according to the Labour Department report based on its reference period 14

THE POWER IS NOW MAGAZINE | JULY 2020

that ended on March 12. The unemployment rate, including workers outside the labor force and the underemployed, went up to 8.7% for the period, shooting up from 7% reported the previous month. “The more damage of that sort is done, the more likely we are to see a ‘U,’ and there are worse letters like ‘L,’ and I hope we don’t see something like that,” Yellen said while commenting on how the U.S would recover from the economic impacts of Covid-19.

James Bullard, the

president of the Federal Reserve Bank of St, Louis predicted the U.S unemployment rate might hit 30% in the second quarter due to the shutdowns enacted to fight the spread of Covid-19, with an unprecedented 50% drop in GDP. Bullard called for a robust fiscal response to replace the $2.5 trillion in lost income in the second quarter to ensure a strong U.S recovery later, adding that the Fed would be ready to put more efforts to ensure markets operate through a highly volatile period. “Everything is on the table for the Fed as far as additional lending programs,” Bullard stated in a telephone interview on March 22. “There is more that we can do if necessary with existing emergency authority. There is probably much more in the months ahead, depending on where Congress wants to go.” Bullard’s assessment of the U.S economy stresses the need for Congress and the White House to agree on a massive aid program. In mid-March, the Fed restarted crisis-era programs to help the commercial paper and money markets after cutting interest rates to almost zero and pledging to boost its holdings of Treasuries by at least $500 billion and of mortgage securities by least $200 billion. “This is a planned, organized partial shutdown of the U.S. economy in the second quarter,” Bullard stated. “The overall goal is to keep everyone, households, and businesses, whole with government support. It is a huge shock, and we are trying to cope with it and keep it under control.”

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The U.S central bank recently bought $272 billion out of the more than $500 billion authorized of government debt in mid-March, which Bullard emphasized should not be viewed as a limit. “This is unlimited, and we can go much higher if necessary,” he said. “We are trying to provide as much support as we can to that market.” He added that commercial paper funding was meant to provide support for businesses trying to roll over short term debt, and the Fed could look at buying other corporate debt. In another account, Bullard states, “It is totally stupid to lose a ma jor industry because of a virus. Why would you want to do that?” he urged that unemployment insurance cover 100% of lost income for all workers and name it “pandemic insurance” since the loss of jobs was a result of stopping the spread of Covid-19. Other players in the financial field also have their views on the virus-related shutdowns. JPMorgan Chase & Co. anticipates that GDP will drop at an annualized rate of 14% in the period between April and June while Bank of America Corp. and Oxford Economics project a 12% decline. Goldman Sachs Inc. expects a 24% decline also. The Covid-19 situation is somewhat out of hand when it comes to the economic impact in the U.S. It would be wise to make informed decisions on the finances you have left as we await the reopening of the economy. Also, let us all ensure we observe the directives implemented to combat the spread of Covid-19. Works cited https://www.bloomberg.com/news/ articles/2020-03-22/fed-s-bullard-says-u-s-joblessrate-may-soar-to-30-in-2q. https://www.cnbc.com/2020/04/06/janet-yellensays-second-quarter-gdp-could-decline-by30percent-and-unemployment-is-already-at12percent-13percent.html. l

GOLDMAN PREDICTS UNPRECEDENTED DECLINE IN ECONOMIC ACTIVITIES WITH Q2, 2020 EXPECTED TO CONTRACT 24%

ver the last few months, the war against Covid-19 through health directives such as social distancing has shut down the normal life in the US. Reports indicate a sudden surge in layoffs and a decline in consumer expenditure, both in size and speed that has never been witnessed before. Operations such as stores, schools, manufacturing plants, and construction sites have also been shut down, leaving the economy running on â€˜essential servicesâ€™ alone. These developments led to a sharp drop in GDP in the 1st quarter as economists warn of a sharper drop in the 2nd quarter.

According to Goldman Sachs Inc. economists, the Covid-19 pandemic will inflict greater economic suffering than they had previously anticipated. Earlier, the economists predicted that the economy would have a 5% decline in Q2 after a flat Q1. On March 20, the economists forecasted an unprecedented 24% decline in Q2 GDP. This was following a 6% decline in Q1 as the country was slowly preparing to respond to the impacts of Covid-19. However, they expect a 12% and 10% bounce back in Q3 and Q4, respectively, with a 16

9% surge in unemployment. Based on an annual average basis, they predicted that the GDP would contract by 3.8% for 2020. Elsewhere, other financial institutions seem to have a different forecast for the April to June period. The Bank of America has nearly the same figure, with Goldman Sachs at a 25% decline in the GDP of Q2. On the other hand, JPMorgan Chase & Co. have their Q2 predictions at a 14% decline. On another account, the President of Federal Reserve Bank of St. Louis, James Bullard in a THE POWER IS NOW MAGAZINE | JULY 2020

Bloomberg interview, predicted the unemployment rate could hit 30% in Q2 because of the economic shutdowns, with an unprecedented drop by 50% in GDP. All these predictions come as economists warn the world is already in its first recession since 2009’s 0.8% contraction. Goldman’s prediction is one of the most pessimistic on Wall Street. In case the Goldman’s economists are right, it means that the US will experience the sharpest single-quarter GDP decline since they started measuring GDP using its current form.

”Why such an extreme forecast, especially in Q2? The sudden stop in US economic activity in response to the virus is unprecedented, and the early data points over the last week strengthen our confidence that a dramatic slowdown is indeed already underway,” Goldman Sachs’ economists write. ”In some US states, authorities have now issued statewide shutdown orders to slow the pace of virus spread and avoid overwhelming the health care system, measures that will further reduce the level of economic activity.”

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These kinds of predictions are raising fears of depression in the US. Still, economists from Morgan Stanley in a separate report stated that a sustained contraction should be avoided considering the response of fiscal and monetary policymakers. However, both Morgan Stanley and Goldman Sachs are optimistic about recovery as we begin the third quarter, despite being subject to risks. The Covid-19 pandemic is surrounded by many uncertainties. No one knows when this is going to be over, even as the government plans to reopen the economy cautiously. Despite all the ongoing crisis, we should keep our hopes alive but still expecting the worst. Works cited. https://fortune.com/2020/03/23/morgan-stanleygoldman-sachs-estimate-coronavirus-economicpain/ https://www.barrons.com/articles/u-s-economycould-contract-by-24-next-quarter-goldman-sachssays-51584713292 https://www.cnbc.com/2020/03/20/goldman-seesan-unprecedented-stop-of-economic-activity-with2nd-quarter-gdp-contracting-by-24percent.html l

CALIFORNIA HOUSING MARKET REPORT & PREDICTIONS

F O R Q2, 2020

he first quarter of 2020 saw the housing market across the US face many hurdles due to the impacts of Covid-19. Businesses closed; millions of Americans lost their jobs as the economy submerged into recession. Though not more profound than the Great Recession, the current recession is a unique one. It has impacted the whole world with the closure of businesses, bringing the world economies to a sudden halt. The housing market is one of the areas that suffered a significant blow from the pandemic. Despite the sector’s declaration as an essential service in the US, it faced challenges due to Covid-19. In California, the housing market was troubled in the first quarter due to its pandemic impacts. In the second quarter, the housing market was still troubled as the shutdown continued to devastate California’s economy. Despite the government’s efforts to support small businesses, including the housing market, the situation has not been better due to the continued Covid-19 impacts. However, as the economy is expected to reopen slowly, there is some light at the end of the tunnel.

CALIFORNIA MAINTAINS HIGH PRICES

Despite these hard times, home prices in California have retained their high prices. April data for the California housing market has shown that sales and listings dropped significantly, but home prices have maintained their positions the same as the one witnessed last month. The rising rate of home prices in California is steeper than anticipated as the sales are at their lowest since 2008. In April alone, a total of 277,400 homes

THE POWER IS NOW MAGAZINE | JULY 2020

were sold, which is went down from what was seen in March. According to the California Association of Realtors, the Bay Area home sales suffered a significantly steep drop of about 37.4% year over year while in the Central Valley, the sales fell by 26.1%. The stay home directives have also seen pending home sales drop by 43%. On the other hand, home showings declined steeply in mid-March due to the social distancing orders and the economic hardship, but later they started to increase gradually. In April, the California home prices maintained high prices but with a slight drop compared to March. The prices dropped very slightly from $606,410, which was 1% from March. Fewer houses were listed and shown, which means few selection options for the home buyers ready to buy.

PREDICTION FROM CALIFORNIA ASSOCIATION OF REALTORS

The Deputy Chief Economist of the California Association of Realtors, Jordan Levine, feels that the bottom of the housing market is appearing. With the economy set to reopen gradually, Levine expects to see a phase of disillusionment as workers, especially young home buyers, realize that they have no source of income due to unemployment for a while. In a video report in mid-May, Levine states that the few months could be severe, and Q2 could see a 30% drop. At the beginning of May, CAR reports from surveys showed that homeowners are still withdrawing their homes from listing, while approximately 85% of buyers are backing out of potential deals. CAR’s consumer buyers believe it is an excellent time to buy a home, as 29% think it is a suitable time to sell a home. According to CAR, there is a new challenge of delays in closing deals as buyer loan funding is facing much friction. Recent stats about loan application show California mortgage application for home purchases are showing a strong comeback since mid-May. According

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to the Mortgage Bankers Association, mortgage applications went up by 6% in the week ending on May 24 compared to the previous week. In another account, CAR predicts a J-shape economic recovery that will extend over the next 12 months and will affect home prices in the next six months.

ZILLOW FORECASTS ON HOME PRICES

In their last release, Zillow reported that home prices are expected to fall slightly for the remaining part of the year. Zillow forecasts a 1.1% price drop, which might be good news for Millennials in San Diego, LA, San Jose, and San Francisco who are looking to take advantage of the historically low mortgage rates. Another Zillow survey shows that 48% of respondents said that this is an excellent time to buy a home. This proves the spirit of hopeful buyers in California. Elsewhere, the housing research team at Freddie Mac in a mid-April report stressed that they expect to see a recovery starting in the second half of 2020. The group’s chief economist Sam Khater states in the report, “Although the uncertainty of the crisis means forecasts of economic activity are more unclear than usual, we expect that most of the economic damage from the virus will be contained to the first half of the year. Going forward, we should see a recovery starting in the second half of 2020…” There are still many uncertainties at this point. According to past events, home prices in California and across the US do not always decline during a recession. Even if they do dip slightly in some areas, there is always a return to normalcy eventually, which is the same case expected for the ongoing recession. Works cited https://www.bpfund.com/will-home-pricesdrop-in-2020/ https://managecasa.com/articles/californiahousing-market-report/

IN LETTER TO FED AND TREASURY WATERS PRESSES FOR EMERGENCY LENDING PROGRAMS NOT TO SUPPORT PREDATORY LENDERS The number of unemployed Americans keep on rising each day as the number of confirmed COVID-19 cases soars. Federal regulators are looking for ways to chip in and get the cash into the hands of the vulnerable people in our society; one new initiative seems to be offering a solid way out, get more banks and credit unions to follow suit, offering small personal loans at low-interest rates!

n March, five federal agencies- the federal reserve system, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, National Credit Union Administration and the Consumer Financial Protection Bureau came together to issue a joint statement urging the financial institutions to â€œoffer responsible small-dollar loans to consumers and small businesses in response to COVID-19.â€? While a good and honest move, something else is happening. Right now, the COVID-19 Crisis has created a perfect opportunity for predatory lenders. In a letter to the Federal Reserve System, the Chairwoman of the House Committee on Financial Services- Congresswoman Maxine Waters (D-CA) wrote to Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, and Steven Mnuchin, Secretary of the U.S. Department of the Treasury, following up on conversations to ensure that the Federal Reserve and Treasury programs and facilities to respond to the COVID-19 Crisis do not support predatory lenders.

THE POWER IS NOW MAGAZINE | JULY 2020

The letter states;

“I write to follow up on our recent conversations confirming that predatory consumer loans offered by payday, installment or other lenders are not eligible to be pledged as collateral to the Term Asset-Backed Securities Loan Facility (TALF) or any other Federal Reserve program or facility that is supported by funds appropriated by Congress and approved by the Secretary of the Treasury,” Chairwoman Waters wrote. “While many Americans struggle with access to credit for a variety of reasons, research shows that the decline in credit conditions and the dramatic rise in unemployment during the Great Recession caused an uptick in borrowers’ reliance on payday loans. I’m glad we agree that using the Federal Reserve’s TALF to directly or indirectly support such loan products with triple-digit interest rates or predatory features that target vulnerable communities is not appropriate, especially during this Crisis.”

The danger of Payday Lenders at a time of Crisis Millions of Americans are living on a paycheck to paycheck basis, and in light of the heightening health crisis, more people are finding it hard to manage their growing obligations. Other than offering solutions to forbearance and payment deferrals to homeowners and eviction moratoriums to renters, the government, through the Federal Reserve, announced that it would be dropping one of its benchmark interests rates to zero. The Federal Reserve “is prepared to use its full range of tools to support the flow of credit to households and businesses,” the central bank said in a statement. Moreover, while the Fed fund rate is usually not the rate that consumer pay, the Fed’s move could ultimately affect borrowing rates consumers see each day. of importance to note is that even with a lowinterest rate, not all types of borrowing will be a bargain which forces the consumer’s hand. Payday loans seem convenient for most, but

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they are the worst offenders. And while these are some of the easiest ways one could get a quick short-term loan, the danger is that the interest charged on them could run easily into the triple digits. Depending on the state you are in, payday loans usually require the person to pay back the money owed in two weeks and must be paid off with interest accrued and the service fees. However, most states set a maximum amount of the payday loan fees ranging from $10 to $30 for every $100 borrowed. However, going by the calculation by the CFPB, a two-week payday loan with a $15 per $100 fee equals an annual percentage rate of over 400%. “Struggling consumers need relief, not predatory high-cost loans that will send them into a debt-trap spiral. As the Financial Services Committee has learned from experts, payday and car-title loans offer products with an annual percentage rate (APR) of 391 percent on average. While some installment loans have different features than payday loans, such as having higher loan amounts and longer and multiple payment periods, predatory highcost lending is also a severe problem in the installment lending industry. Installment loans can be expensive for consumers and difficult to repay. The Consumer Financial Protection Bureau (CFPB), notes that the average APR for installment payday loans at $1,000, for example, is 237%. The CFPB has also found that nearly a quarter of payday installment loans result in default. With regard to how many of these loans are refinanced, the CFPB found that 1 in 5 installment car-title loans and nearly 2 in 5 of payday installment loans are refinanced by consumers.” Maxine Waters. Sources; https://financialservices.house.gov/news/ documentsingle.aspx?DocumentID=406571 https://www.cnbc.com/2020/03/18/the-bestand-worst-ways-to-borrow-money-during-acrisis.html https://www.cnbc.com/2020/03/27/americansmay-soon-have-more-loan-options-hereswhat-to-know.html

inancial Institutions’ Guide to Cyber Security Cybersecurity concerns are growing overwhelmingly in all types and sizes of businesses. But one sector that has the most profound fears is the financial services sector, and for a good reason. In today’s modern world, almost all valuable information of any financial organization is stored electronically. Also, more systems and databases are used in the financial institutions as the world continues to exponentially employ the use of the internet and mobile technologies for data transmissions and the making of transactions. All these electronic activities in financial institutions make the risk of cyber-attack imminent.

inancial institutions have to go beyond protecting vital data such as customer records or any other confidential documents and face the more significant challenge of safeguarding their systems, networks, and financial assets under them. In case several institutions are attacked simultaneously, the blow on market confidence and the nation’s financial stability would be catastrophic. Cybersecurity insinuations are so severe that in 2015, the US Director of National Intelligence ranked cybercrime as the top national threat saying that its risk is ”higher than that of terrorism, espionage, and weapons of mass destruction.” The dangers posed by cybercrimes against the financial services industry have raised concerns and is now on the spotlight of watchdogs globally. Financial institutions have all the rights to be highly concerned about their cybersecurity. According to the 2015 Industry Drill-Down Report from Websense, the financial services sector faces cyber-attacks 300% more frequently than any other sector. In the first half of 2015 alone, the Identity Theft Resource Center counted at least 30 known breaches in the financial sector. In the same year, business leaders have it upon themselves to prevent cyber-attacks. 2015 Travellers Business Risk Index states that 80% of leaders from the financial services sector cited prioritizing the fight to avoid cyber risks, above compliance, legal, and other economic concerns. Many of the leaders have taken measures to strengthen their cybersecurity position. However, the sector still faces the same challenge due to the speed of technological advancements and the continuously sophisticated nature of cyber-attacks.

What triggers cyber-attacks? One of the primary triggers of cybersecurity threats to the financial services sector is the increased exposure to foreign intelligence entities and the propagation of digital data. This data poses a considerable threat to any financial institution once it lands on the hands of hacktivists influenced by political or social agendas or anyone seeking to cause systematic chaos in the financial markets. 24

THE POWER IS NOW MAGAZINE | JULY 2020

Another possible factor that triggers cyberattacks is the existence of malicious and unwitting company insiders such as employees, contractors, suppliers, or even business partners who have the authority to access sensitive information or systems of a particular financial institution. A recent security survey on the financial services sector shows that almost half (46%) of security specialists cited that the most predominant cause of breaches is abuse or misuse of the institutions’ insiders.

Cyber threats feared most by financial institutions The world of cyber-crime may be vast, but there are those threats that can bring severe damage to the financial services sector. They include: •

•

Advanced Persistent Threats (APTs)- these are undetected, persistent computer hacking processes that give the hackers access to a high-value network of the organization. The threat features phishing of emails or using other tricks to fool employees into downloading malwares that give access to the hacker. Internal threats- any insider who has authorized access to the institution’s systems poses an irrevocable risk to the institution. The insiders may authorize the access intentionally or unintentionally, which could be a result of the increased use of personal devices at the workplace and the use of cloud-based storage. Account takeover- cybercriminals tend to hack their way into bank systems or credit cards, especially those that interface through the internet. Once the criminals are in, they have the power to carry out any transactions. Other threats include; third-party payment processor breaches, supply chain infiltration, and payment card skimming, among others.

How organizations can protect themselves from cyber-attacks Despite the issue of cyber-attacks being so challenging, there are ways institutions can use to keep away intruders or at least sound alarm when there is a breach. One of the ways is through implementing basic security operations. The institutions should have a strong foundation of network hardware, software, and limited fault monitoring systems WWW.THEPINMAGAZINE.COM

such as IPS, IDS, firewalls, and SIEM systems. The systems help to keep the firm protected from 80% of known threats. Another way to prevent this is by introducing compliant security operations. This can be done by introducing specific steps and documentation practiced by a network operation center or a security operation center (SOC). The focus of this move is to deploy more quick detection of any intrusions and establish a reactive defense posture. Organizations should also use sustainable security operations that align the organizational procedures and documentation with industry best practices or compliance standards. These facilities usually are dedicated to giving cybersecurity to the organization and responding to any form of threat. Another way to do this is through the use of the most recent intelligence-driven defense. This defense is driven by organizational collaboration, intelligence, event analysis, and early threat detection. The defense can be used to strengthen the organization’s security posture with a predictive capability that enables the organization to respond to any developing threats before they are launched. Works cited. http://www.cutoday.info/content/ download/26039/218761/version/1/file/Lockheed +Martin+Guide+to+Cybersecurity.pdf l

COVID-19 SUSPENDS OPEN HOUSES AS AGENTS PIVOT TO VIRTUAL TOURS

TECHNOLOGY IS DISRUPTING THE REAL ESTATE INDUSTRY by Valtteri Salomaki

The impact of technology on the Real Estate industry is more evident than ever before and has primed the industry for disruption. Consumer perception of Real Estate agents is no longer formed by only face-toface interactions, but rather formed by the digital footprint a Real Estate agent builds online. According to the National Association of Realtors, 48 percent of all real estate firms stated that keeping up with technology is one of the most pressing challenges their firm faces in upcoming years.

THE POWER IS NOW MAGAZINE | JULY 2020

ue to COVID-19, even open-houses are a thing of the past. The California Association of Realtors ordered realtors to stop all face to face marketing including home showings and open houses. This has left many real estate agents in a vulnerable position; however, technology has provided alternatives to open-houses with 3D virtual tours. In fact, 95% of buyers are more likely to call about homes with 3D virtual tours. Greater exposure means more offers, and more offers usually means a higher sale price. In an independent 2019 study, industry leader Matterport discovered that homes with a 3D virtual tour closed up to 31% faster and with a higher sales price than homes without. According to Realtor Magazine, 80% of surveyed house hunters would actually switch to a real estate agent who offers immersive 3D tours for their listed properties. This creates a massive opportunity for real estate agents to differentiate themselves in a local market by providing a virtual tour option for each of their properties to increase lead generation, and then leveraging digital marketing activities such as social media marketing, blog writing, and podcasting to amplify their reach. The future of real estate is here. Donâ€™t play catch up. To ensure that The Power is Now Media, Inc. is always ahead of the curve we have added a new member to the team. Valtteri Salomaki is the new Chief Technology Officer and his role is to be forward thinking in how technology continues to re-shape the real estate industry. He will be working on scalable technology solutions to enable real agents to succeed and is dedicated in providing services that not only help our VIP agents today, but also positioning them for long-term success. Starting this month The Power is Now, Inc. will be rolling out a brand new website development service that will provide real estate platforms that are customized to the needs of each agent. Websites are the core to any digital strategy and our aim is to help agents step-by-step build a strong digital presence with technology.

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Valtteri Salomaki is an MBA Graduate with a concentration in Marketing Strategy and Information Systems at the University of California, Riverside (UCR). Valtteri dedicated his studies to understanding global markets and their economic transformation due to new emerging technologies, which led him to study abroad in both Hong Kong and Milan. In addition, Valtteri is the co-founder of Free Logic Media LLC and serves as the Digital Strategist for all large scale projects, the co-founder of EDGE Sound Research, a new audio technology startup that he presented at the 2020 Consumer Electronics Show in Las Vegas, and is building the Riverside Studios Entertainment Innovation Incubator with a team of entrepreneurs focusing on workforce development in the Inland Empire.

HOMES HAVE NEVER BEEN

THIS IMPORTANT

Last month was the National Homeownership Month, and like so many things this year, it was so much different from other previous years. With the COVID-19 concerns, both the sellers and buyers alike have expressed their fears about entering the home buying spring season.

Yvonne Mcfadden

dditionally, the real estate agents, while responding to a survey by the National Association of Realtors, said that at the least, 40% of the buyer and 45% of sellers said that they would delay any real estate transactions due to COVID-19. Undoubtedly, the COVID-19 is reshaping the real estate realm in ways we cannot muse, and this yearâ€™s spring season has been impacted severely. Nationally, it is reported that the home buying application was down by more than 30% in the first week of April this year compared to last year. For instance, in North Carolina, strong markets such as Raleigh, Charlotte, and Greensboro also recorded decreased sales in April but not anywhere close to the national levels. Our homes have never been more topical, and COVID-19 has made that clear. Right now, governments are emphasizing the need to shelter in place, and while we knew that homes were our cornerstone and the foundations of our life, in recent times, their importance has been magnified. Yet far too many people

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have laid bare on the streets and highlighted flaws in these foundations. while it is true that we may not all have a place to call home, or a sanctuary that would shelter us from the extreme conditions we have to face each and every day, a shelter in these unprecedented times is extremely important. While the housing market cannot start to normalize operation as before the crisis as long as the threat of the virus remains, low mortgage and interest rates coupled with the power of technology such as Zoom and 3D tours are showing signs of a thawing market and with it comes more buyers to the market. While this is good news to the housing market in general, it could create bidding wars making it particularly harder for the people looking to purchase their first homes. while this pandemic creates somewhat a perfect opportunity for the firsttime homebuyers to enter the market as they feel more confident in their ability to buy, they may believe that a high-priced market with a low inventory count has put homebuying out of their reach.

All these challenges highlight that homes have never been this important before. There are the perfect buying conditions for anyone who wants to enter the market, but at the same time, the virus has created uncertainty for both sellers and buyers, which is holding them back. But, what if you can transact safely without having to worry about COVID-19? Well, talk to Yvonne McFadden through this link https:// thepowerisnow.com/yvonne-mcfadden/.

Sources https://blog.shelter.org.uk/2020/04/living-inlockdown-why-home-is-more-important-thanever/ https://www.nchfa.com/news/home-has-neverbeen-more-important

THE POWER IS NOW MAGAZINE | JULY 2020

Peggie Simmons WHAT IS PAYMENT DEFERRAL DURING COVID-19? The Coronavirus pandemic has caused financial distress to millions of individuals across the United States. With unemployment rates staggering at 20 percent, which is an all-time high to be witnessed ever since the great depression, millions of families are facing financial hardships during this crisis. According to recent research by the Pew Research Center, nearly half of the Americans today consider the pandemic to be one of the ma jor threat to their financial freedom, and it makes much sense because between March 15 and April 4, nearly 17 million people in the country filed for the Unemployment benefits. In response to the struggling homeowners, the government ha provided several mortgage relief options, and among them is the payment deferral during this crisis. However, nor so many people understand what a payment deferral is, or how they stand to gain from it. While one of the most common options for the homeowners is the forbearance, homebuyers and homeowner are being offered with a payment deferral option once they have resolved their COVID-19 related hardship.

WHAT IS COVID-19 PAYMENT DEFERRAL? It was just announced recently as an assistance program for the homeowners who are already suffering from the COVID-19. The Payment Deferral solutions return as the homeowner’s monthly mortgage payment to its preCOVID amount by adding 12 months of missed payment at the end of their mortgage period. It could be less than 12 months, but it cannot exceed 12 months.

It is important to note that for the deferral period, the amount accrued will not carry any interest to the borrower. “This will ensure your mortgage is current once you are back on your feet and when other options, such as a repayment plan, are not feasible.” HOW DO YOU KNOW IF YOU ARE ELIGIBLE? Starting July 1, 2020, the COVID-19 Payment Deferral will be available to the homeowners with Freddie Mac loans. During this time, your loan servicer will begin evaluating your eligibility for the program. “Your servicer will contact you about 30 days before the initial forbearance plan is scheduled to end to determine which Freddie Mac assistance program is best or if additional forbearance is needed.” l

How will the COVID-19 Payment Deferral Affect your mortgage payments “With the COVID-19 Payment Deferral, you essentially return to making your regular mortgage payments, and the maturity date, remaining term, interest rate, and payment schedule will remain unchanged once you do so. The deferred payments will be due at the end of the loan, such as when your loan is paid off, refinanced, or your home is sold. Payment deferral will not prevent you from being eligible for a Freddie Mac modification if mortgage relief is needed in the future.

report often. Do not assume that the lenders will be faithful to the new guidelines; you need to verify that your lender is indeed following the new guidelines and that your account is current. If you would like to know how you can qualify for a forbearance or Payment Deferral, talk to Peggie Simmons.

If you are experiencing financial challenges due to COVID-19, contact your loan servicer – the company that you send your monthly mortgage payments to – so you can explore which of Freddie Mac’s workout options is best for your situation.” ARE FORBEARANCE OR PAYMENT DEFERRAL OPTIONS GOOD? Entering into a forbearance agreement with a mortgage lender at this time will not affect your credit score or how the lender reports to the credit bureaus. Part of the CAREs Act amends a section of the Fair Credit Reporting Act. This amendment asks the lenders to report that borrowers are ‘current’ on their credit obligations when a special payment accommodation like deferral or forbearance is in effect. But, if you are in a position to continue making your payments, you should. Remember, forbearance or deferral does not mean that your loan is forgiven; you will still have to cover these loan amounts in the future. Additionally, if you enter into a forbearance agreement with your lender, you must review your credit 36

Peggie Simmons has 34 years’ experience as a real estate agent and broker in Tempe, Arizona, and currently serves as the Founder and CEO of Realty Marketing Group specializing in relocation, new homes sales, traditional homes, marketing & sales, short sale negotiations, foreclosures, luxury rentals, investments among many others. Peggie has a heart of gold, boldness, and unbridled enthusiasm that drives her passion. She has been a resident of Arizona since 1983, which makes her the perfect choice and your go-to real estate agent in Arizona. She is an Accredited Buyer Representative (ABR), a Certified Residential Specialist (CRS), a Multi-Million Dollar Producer, a Certified Short Sale Property Expert (CSSPE), and a Certified Distressed Property Expert (CDPE), all of which means you will be dealing with a highly qualified professional who knows what she is doing. To learn more about Peggie, follow this link https://thepowerisnow.com/peggiesimmons/ Sources http://www.freddiemac.com/ blog/homeownership/20200514_ understanding_payment_deferral. page https://www.forbes.com/sites/ advisor/2020/04/16/covid-19mortgage-forbearance-whatto-know-before-you-delaypayment/#13e69f003481

THE POWER IS NOW MAGAZINE | JULY 2020

HOW THE CARES ACT WILL HELP US AGENTS & BROKERS

Kamesha Keesee Signed into law on March 27, 2020, the Coronavirus Aid Relief and Economic Security (CARES) Act provides a wide array of options not just to the people, but also to the agents and the brokers who may be facing financial hardships due to the Coronavirus pandemic. The CARES Act contains special provisions that are aimed at helping people struggling to pay their mortgages or rent. The country has covered $170 billion tax break for the wealthy investors in the real estate industry, and that too was included in the stimulus package. However, what other provisions in the CARES Act that could have an impact on the real estate industry or, how will the CARES act help the agents and real estate brokers?

FINANCIAL SUPPORT AND INCENTIVES Remember, the CAREs Act has a provision that mitigates the loss of businesses to small scale businesses in the country and provides these small-scale businesses with financial support to help them stay afloat. Like all the small business with fewer than 500 employees in the country, many brokerages may qualify for the financial sustenance and backing from the Federal relief package. Some of the financial relief packages offered include;

â€˘ The Paycheck Protection Program which provides up to $10 million in loans, but that will largely depend upon payroll. One thing to note however is that these loans are forgivable, but the business has to meet specific criteria, including that 75% of the loan amount given to it must be used to pay the employees. Also note, the application for this relief program are provided through certified lenders and not the SBA itself. â€˘ The Economic Injury Disaster Loan program is a program that offers small businesses up to $2 million in loans. These, unlike the PPP, are not forgivable loans but can be used beyond payroll. These loans can be applied directly through the SBA. One thing that real estate firms and professionals have to remember is that independent contractors will not be considered as employees when reporting payrolls; however, that does not mean that lenders cannot bend some rules, some are willing to make exceptions. The realtors who work as independent contractors can independently qualify for the SBA programs individually.

TAX INCENTIVES The CAREs Act has included several incentives that the real estate agents can take advantage of and gain immensely. A real estate firm with steady cash flow may benefit more from the tax incentive. The businesses with not so steady cash flow can take advantage of the SBA programs. Some of the tax incentives include; • Increased deductions. Under the CAREs Act, the business interest expense deductions were reduced from 30% to 50% of the adjustable taxable income. This mainly is helpful to the investors of the industry who utilize a large amount of leverage. • Extended identification period. This happens with 1031 exchanges, the 45-day and the 180-day periods to identify properties to exchange if it is set to expire between April 1 to July 14 of this year, it will now expire on July 15. • Opportunity fund deadline extension. Like the Extended identification period, if the 180-day period to roll over the gain from the sale of a property in an opportunity zone falls withing April 1 to July 15, investors can now invest on July 15. • Employee retention credit. This is a refundable credit which applies to 50% of up to $10,000 wages. CAREs Act Real Estate Provisions Also included in the stimulus package is a moratorium on foreclosures for the single-family homes. The buyers with federally backed mortgage loans may request forbearance without documentations. Also, the federally backed multifamily mortgage loan payments have a forbearance program but come in 30 days unlike for the single-family homes which come in 60 days. However, for the multifamily, it can be renewed twice, which totals to 90 days.

While the CAREs Act has been praised as one of the largest economic stimulus packages in the history of the US, many experts argue that it is not enough to bail out citizens and prevent a financial crisis completely. The congress is considering a second financial incentive. If you would like to learn more about how the CAREs Act is helping real estate agents or how you can take advantage of the CAREs Act, talk to Kamesha Keesee.

amesha Keesee epitomizes hard work, resilience, compassion, and creative service delivery in every detail of your real estate transaction, from the start to the closing. Kamesha’s journey in real estate business began when she was 15 years old, where she was employed as a teller at Security Pacific Bank. Being energetic and as curious as she was, she quickly adapted to the changing employment environment and became a personal loan officer. To learn more about Kamesha Keesee, follow this link https:// thepowerisnow.com/kamesha-keesee/. Sources; https://www.bizjournals.com/sanantonio/ news/2020/04/15/what-the-cares-acthas-to-offer-real-estate.html https://www.mashvisor.com/blog/caresact-2020-impact-real-estate/ https://www.zillow.com/agent-resources/ blog/cares-act-for-brokers-and-agents/

THE POWER

OF TECHNOLOGY TO WORK WITH CLIENTS VIRTUALLY

David C. Trubey

ome people will prefer working from home because it is more productive and fun; also, there are great saving opportunities too. With the absence of the long commute times, people are now finding it easy to make time for their families and rediscover their private life. Companies like Facebook, Twitter, Square, and Google are encouraging their workers to work from home, and in so doing, they realize that more jobs are done and have begun announcing that working from home will be permanent, as in the case of Twitter.

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The coronavirus pandemic brought with it a wave of opportunities for the people who enjoy working at home. The world now is split into two; the people who love working at home and the people who do not.

All this has been made possible by the power of technology. Remote working conditions to date have withstood the test of time, and many are seeing the first-hand benefits of what a true remote working landscape looks like. One of the many tools that technology has provided businesses with is the virtual reality which allows users an immersive experience like no other. In the now new world of digital processing, exciting new technologies such as virtual reality, cloud computing, big data, live video connectivity, among many others, are reshaping the way businesses conduct their day to day activities.

SO, HOW HAS TECHNOLOGY-ENABLED OR FACILITATED REMOTE WORKING OPPORTUNITIES WITH CLIENTS? First, virtual reality can be applied in so many aspects of the real estate industry. VR training is used to train and share knowledge with the entire organizations, large or even small, and within varying fields and industries. This includes construction, manufacturing, and energy and utilities. As technology becomes more and more sophisticated, coordinating training functions and relaying information across multiple employees and their locations, departments, experience levels, and the VR devices are becoming more challenging for businesses. But an area where we see rapid adoption of the VR technology is within home showings. According to NAR, the internet is among the top three resources for the buyers when they are looking to buy. Real estate agents can send their clients to home details, and if the client is interested, they can request for a virtual tour of the home. This is a technology that will likely stay even after the Coronavirus pandemic. Video chats today are becoming much more popular. Today, I meet many of my clients virtually rather than heading to the office. Most of the process that I am now doing at home, I could have spent time going to the office and doing it from there, but with video calls and chats, I am finding it much easier to take the tasks home. In other industries, since the VR involves people working within a virtual platform-based, at least conceptually on real people and real scenarios, the in-person team dynamics and 42

communication management are seamlessly maintained. Through virtual work environments, people can train and also work together harmoniously in a safe environment to tackle and familiarize themselves with some of the high-risk situations that would have otherwise involved a high cost to the employers, thus causing unnecessary danger to the employees. The coronavirus pandemic has brought out much weakness in almost all industries, but perhaps it was a good thing since we now can see the opportunities for growth. For instance, as a real estate agent, I am now able to apply technology to streamline my work processes, something I could not have done before. I take it positively, and so should you. I love being a Realtor and helping people achieve their dreams of home-ownership. Since 2001 I have lived and worked in the beautiful city of Corona, California. I remember how the city had acres and acres of orange trees and now have been replaced by beautiful communities. I went to High School here, and I arrived as the new construction in the area was nearing completion. I grew up originally in Los Angeles and lived in the City of Norwalk, CA, for 17 years. To learn more about me, follow this link https:// thepowerisnow.com/david-trubey/. Sources https://www.forbes.com/sites/ stevedenning/2020/05/29/why-workingvirtually-will-become-a-permanentoption/#15ecc6dd650c https://www.keepingcurrentmatters. com/2020/04/08/how-technology-is-enablingthe-real-estate-process/ https://pixovr.com/five-ways-virtual-realityis-being-used-for-remote-work-in-thecoronavirus-era/ THE POWER IS NOW MAGAZINE | JULY 2020

HOW NHPS IS WORKING WITH MUNICIPALITIES TO DEPLOY ASSISTANCE PROGRAMS

Ameer Elahee

s a certified Community Development Financial Institution (CDFI) certified by the United States Treasury, NPHS has deployed millions of dollars in state and federal funding to support housingrelated programs and services. Due to the COVID-19 pandemic, many people in our community are facing uncertainty and experiencing financial hardship. We are here to help keep people in their homes. NPHS is using its CDFI capacity and working with local governments to deploy CARES Act CDBG funding in the form of mortgage, rental, and utility assistance programs to help families experiencing financial hardship. Thanks to contributions from Citi and JP Morgan Chase, NPHS’ Community Investment Trust received $500,000 to support shared equity strategies that preserve housing affordability and create wealth for low-income homebuyers. The Community Investment Trust is NPHS’ CDFI investment vehicle that finances its affordable housing developments and community lending programs. The $500,000 capital infusion will be leveraged to develop and preserve affordable homeownership through NPHS’ Community Land Trust, a shared equity strategy. Community Land Trusts and other shared equity and appreciation strategies have become increasingly crucial to NPHS as means to develop affordable homeownership, repurpose vacant properties, extend the long-term impact of public and private sector investment, and to create intergenerational wealth among low-income households. Shared 44

equity and appreciation models enable NPHS and its partners to retain or recapture the benefits of public and private subsidies for future low-income households, enabling the initial investment to serve more families over long periods. NPHS created its Community Land Trust (CLT)as part of a holistic framework to develop, preserve, and protect affordable homeownership in neighborhoods throughout the Inland Empire. Homeowners build wealth by paying down the principal balance of their mortgage and through the share of home price appreciation allocated to them under a ground lease. By acquiring and transferring land to the CLT, NPHS maintains ownership and controls housing costs by permanently limiting land costs and “locking in” subsidies so that they benefit multiple generations of homebuyers each time the home is sold. Through the NPHS CLT, access to homeownership for people who are otherwise priced out of the housing market becomes a reality. To learn more about NHPS, contact Ameer Elahee, a VIP Agent with the Power Is Now Media. You can reach Ameer through the following link https:// thepowerisnow.com/ameer-alahee/. Sources; https://nphsinc.org/2020/05/12/2020justclickhomeca mpaign/ https://nphsinc.org/2020/04/22/cares-act/ https://nphsinc.org/2020/06/09/neighborworksweek-2020/ THE POWER IS NOW MAGAZINE | JULY 2020

Looking to Buy in the Inland Empire? Talk to Frazier Realty Group First Ruby Frazier Demographics

Riverside is booming with opportunities. According to the most recent demographic data about Riverside released in December of 2019, Riverside County had a population of 2,383,286 and was ranked 4th in population data out of 10 in the area. The county in California that had the highest population was Los Angeles County, which had a population is 10,098,052, and comparing the two; LA is 4.2 times larger than Riverside. From 2010 to 2018, there was a population increase of 193,645 people or a 9% increase. In terms of density, the county has a density of 331, which is in the mid-range of most other counties in the area.

Economy

According to data from the Census Bureau, Riverside County has a median earning of $45,489, which is the 3rd most of all the surrounding counties in the region. The county with the highest median earnings is Orange county, which has to earn $54,966 and comparing the two counties, Orange county 20.8% larger. However, comparing the median earning of the United States with that of Riverside County, the countryâ€™s is larger by a margin of 4.9%. Additionally, Riverside county is ranked 4th based on the median household incomes. Residents or households in the county have a median household income of $63,948. Again, the county with the highest median household income is Orange county, which has a median household income of $85,398. Also, it is essential to note that Riverside county has 12.1% of its residents self-employed.

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This brief overview of the county is to help you understand that county a lot better because Riverside county is the place to be. In terms of housing, Riverside county has about 833,602 housing units with a housing density of 115.7. the homeownership rate in the county is 65.8%. Comparing Riverside county with other places like LA or Orange County, Riverside home costs are relatively cheaper at 330,600. As such, if you are looking to invest in the real estate industry, Riverside is the place to begin. If you are looking for real estate agents to work with, start with Frazier Group Realty.

Let your search for a real estate professional end here. Explore the resources within the Frazier Group Realty website; you will find everything you need to buy or sell a home as well as learn about the market value of homes. You can search for homes with detailed descriptions, photos, community, and school information, and so much more. Frazier Realty Group is ready to assist you with all your real estate needs. The company’s approach is customized for each of its clients; the company solutions are never one-size-fitsall!

What are customers saying about the company?

Company Overview

Frazier Group Realty was Established in 2006 with a mission to provide the highest quality and exceptional real estate services to our clients. The company clients’ needs always come first, and they strive daily to exceed their expectations. “Our goal is to earn their business and respect as real estate professionals. We desire a long term and mutually beneficial relationship with all our clients. Failure to achieve our mission with every client is not an option. Our vision is to help our clients build real estate wealth and to achieve their financial goals for the present and the future. Our goal is to become the number one Real Estate Company in each area that we served and to maintain the highest standard possible of professionalism and integrity in the industry.” Serving the Inland Empire, Orange, and Los Angeles counties, we specialize in Residential and Commercial Real Estate as well as Property Management. We have been in business for over ten years, and as seasoned professionals, we can address all your real estate needs.

“I am a first-time homebuyer, and the process could not have gone any smoother with Erica from Frazier Group Realty! Whatever question I had, she was always a phone call away with prompt, courteous responses. I was amazed by how much personal one on one time she was willing to offer.” – John N. San Jacinto CA. To continue reading, follow this link https://www. yelp.com/biz/frazier-group-realty-riverside “110% satisfied with Erica @Frazier Group Realty. Erica was our 3rd agent and finally happy we found her and worked with her... she is awesome!! Qualities that you need in an agent. Agent that is going to make time for you. Resourceful with additional resources i.e. alternative lenders. unbiased opinion on the location you are looking for your home and the lenders you would like to work with. Does not make you sign an exclusive contract. – Ursula M, Riverside, CA. To continue reading, follow this link https://www.yelp.com/biz/frazier-grouprealty-riverside. Give the agency a call or send an email when you are ready to visit some homes or to schedule a free home buying or selling consultation. Sources; http://www.fraziergrouprealty.com/ https://www.towncharts.com/California/ Housing/Riverside-County-CA-Housing-data. html THE POWER IS NOW MAGAZINE | JULY 2020

ASPIRE T.V.

is where you will find her. If not designing spaces for celebrities, she will be â€œunboxingâ€? some goodies for some random people. Or at times, you will find her collaborating with big names in the industry, creating home collections, and also making appearances on T.V. channels, such as HGTV and Lifetime, just to name a few.

Nikki

Chu

TALKS SPACE STYLE UP

f you have been following her, like me, you must have noticed that everything she does, she does it all with finesse. Watching her do a home makeover gives me thrills, and it is so easy to tell that she is extraordinaire at what she does. It comes from a place of true passion and a love affair with design that ropes in classic-style sensibilities. Nikki Chu. A name is that it is so phenomenal in the design industry, not just in Los Angeles, or the country, but in the whole world! In fact, Nikki says that global modernism is the drive of her home line. She gets inspired by all things, from simple textiles to intricate patterns. And this is particularly evident from her large collection of everything home designs with her renowned business Nikki Chu Home. Interior design is her ‘thing,’ and everyone who’s anyone knows that there just a handful of people to call, and Nikki is at the top of that list. Perhaps just to highlight this, she has curated interiors and designed spaces for the likes of Tyra Banks, Nick Cannon, Tisha Campbell, Karrueche Tran, Gabrielle Union, and many others, the list is non-exhaustive, I could go on and on.

BUT WHO IS NIKKI CHU?

We get what she does and the influence she has under her belt, but who is this lady who seems to be rocking the airwaves every time she comes around? Well, Nikki is a celebrity interior designer, author, artist, and entrepreneur, with over 20 years of experience running her own company. She is the one lady who remains atop of a somewhat disproportionate industry, causing massive disruption. She is talented and inventive. She stands as a hard-working, powerful businesswoman in the world of product design and interiors. Born and raised in Toronto, Canada – Nikki has always had a passion for designing since childhood. After realizing her love for the Arts, Nikki attended a specialized design school called the International Academy of Design.

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NIKKI credits education to being the catalyst in her career

LET’S GO BACK TO THE BEGINNING

“Every childhood picture, I have scissors and crayons in my hand, and it was all that I did all of my life.”

NIKKI SAYS

A quick glance at her Instagram pages or even Pinterest will introduce you to her amazing world and her unique tastes of professionalism. Nikki considers these two platforms as her source of inspiration and a great visual source for ideas. While born and raised in Toronto, she finds herself torn in between L.A. and Dallas.

The journey to interior design began long ago in her mother’s craft room, which was filled with everything a girl could ever ask for, from fabrics to glue guns, and it is here that passion began to grow. This was a place where Nikki would be lost in her own world of imagination; she was free to run wild and try out every ‘crazy’ design she could imagine. This is the place that bolstered her confidence in art as she spent countless hours cutting, sewing, and pasting together clothing and topiaries. It was also the place where she designed some award-winning designs that placed in her school art shows. These were the little efforts that at the time seemed big, that confirmed that she was meant for greatness. Twenty years later… look at what she has achieved!

“If you talk to somebody who’s a singer, they would say I was born to sing; I know I was born to design,” says Chu. “Every childhood picture, I have scissors and crayons in my hand, and it was all that I did all of my life.” THE POWER IS NOW MAGAZINE | JULY 2020

LIFE AT GEORGE BROWN COLLEGE

In all fairness, the design industry is one of the industries where there only a handful of brown faces, and the ones that are there, are spread far between; however, this has not deterred Nikki from achieving great milestones. While it is true that she has a keen design eye, Nikki credits education to being the catalyst in her career. She went to George Brown College in Toronto and studied graphic design. She later dived into courses on color theory, patterns, and illustrations while simultaneously working on programs such as Photoshop and InDesign. “It honed in my design skill abilities. It gave me a focus. And it taught me how to do it on the computer, and all of the programs that now I use every single day of my life,” she says. Life is about information, if you have the right information, you are unstoppable, and Nikki has shown this quite remarkably. Education has given her career an edge up on her competition. Rather than sending her portfolio on a paper, she used to submit it digitally through the e-mail. By the time she was graduating, she had turned down four job offers. At 23, she was looking to expand her expertise in interior design, and one of the ideas she fancied was an art-based magazine. She was introduced to two investors she hoped would be solid partners. However, faced with a decision to move out to California, just three years later, the deal went sour, which left Nikki with two options, to quit and go back to the corporate world or try out her luck elsewhere. “I didn’t really want to work in the corporate setting anymore. It was a great experience, but when I moved to California, I realized it wasn’t for me.”

WORKING AS A FREELANCER

Most people who are passionate about what they do will tell you that this is a phase they all pass through. When things seem to be working out perfectly and then all of a sudden, they fall apart, and to survive, you start looking for some minor jobs. At one point, Nikki was here. Tapping into her love of vintage and design, she started repurposing old décor items and selling them, at this time, she was also working a freelance designer. It was also around this time she met Tisha Campbell, who requested her to do a makeover of her dressing room on the set of My Wife and Kids to reflect the then-popular South Bleach nightclub, B.E.D.

“All of a sudden Damon Wayans came in, and all of these celebs came in, and they were like who the hell did this? And she’s like Nikki Chu,” recalls Nikki.

This was a breakthrough for Nikki, who would soon attract notable clientele.

STAYING AFLOAT IN THE INDUSTRY

“I didn’t really want to w ork in the corporate setting anymore. It was a great experience, but when I moved to Califor nia, I realized it wasn’ t for me.”

You have to understand that Nikki did not have any background in the interior design whatsoever. But she quickly climbed up the ladder to become the go-to designer for upgrading homes. However, she confesses that starting out at the beginning, she had to do a lot of pro bono work and offer discounted rates just to build up her portfolio. That, coupled with a strong work ethic, helped her become an industry disruptor.

“Showing up on time, not overspending someone’s budget, looking professional, being reliable…this type of career boils down to character on top of talent, so it’s not just being a great designer, somebody’s paying you to put up for your crap. There are too many talented people. Just like if you’re a singer and you don’t show up and do studio time, and you have a bad attitude, they’ll go get the next singer. That is the difference in the people who work a lot and get recommended a lot versus people who are talented and really don’t get the job all the time.”

ACCOMPLISHMENTS

Nikki has accomplished a vast range of interior projects, licensing deals, launched an online design school called Design Mecca E.D.U. (designmeccaedu.com), as well as branded product collaborations with some of the most accredited names in the industry (Moet & Chandon, Home Depot, N.F.L., Pier One, Pepsi, Disney, and XBOX to name a few). Chu has designed a vast range of renovation, commercial and interior projects during her career. She mixes modern lines with a chic touch that aligns perfectly with her dramatic fashion-fused vision. Nikki has been considered the lifestyle and design expert for several T.V. networks such as HGTV, OWN Network, Aspire T.V., Lifetime, Oxygen, and E! Entertainment. She, now has her own design show based on current home decor trends, going into her 3rd season on Aspire Network titled “UNBOXED with Nikki Chu.” Her growing design company, Nikki Chu Home., is firmly rooted in interiors, home accessories, art, and related products. Nikki’s selftitled home collection ‘Nikki Chu Home’ consists of interior paint, wall art, bedding, towels, rugs, pillows, throws, and poufs. 54

Nikki’s Advice Many young people are getting into the design industry, but the quest for interior designers who are not only talented, smart, but also respectful is insatiable. “What I do for a living is not mainstream; it’s very dominated by middle-aged white women and gay, white men. Most black minority people, they don’t know how to get into it because it’s not a common career that you would typically see people in.”

Albeit having a large following from minority groups in the country, she says that most people do not know where to start. “A lot of people look at what I’m doing, and they go holy cow, but what they don’t realize is going to school learning graphics, working in advertising and understanding branding, working in television and understanding poise and professionalism, working with celebrities and having to be accountable and professional and having my business by word of mouth, all of those things lead up to where I am now and why I am at the level success that I have.” “I think you can have it all. I just think there’s a time and a place, and you have to space it out accordingly,” says Nikki.

THE POWER IS NOW MAGAZINE | JULY 2020

THE COMMON MISTAKES REAL ESTATE AGENTS MAKE YOU SHOULD AVOID

Cornelius L. Jackson

ou just got it! The realtor title you have been longing for. One thing is for sure, the real estate industry is lucrative, but at the same time, most real estate agents fail even before they begin. If you are just getting started in this industry, there are some mistakes you need to avoid right from the first start. Real estate business can be tricky, and as a newbie, you might be rushing into the business without understanding the dynamics of the industry fully. You need to have a plan

to build yourself as a successful agent. You need to understand that being a successful agent is not only a product of your good decisions but also the ability to outmaneuver bad decisions. Additionally, the high upside potential is usually accompanied by an equal downward risk; this means that an excellent venture in real estate can be derailed by a few bad decisions. So here are some mistakes that I have made, the mistakes that as a new agent you need to avoid.

PLAN BEFORE YOU START

Even before you submerge yourself in this lucrative industry, you need to make sure that you have a plan. It is so natural that as a young agent, you want to get into the business a quickly as possible, and many make a mistake of thinking that real estate transactions are all about helping sellers sell and helping buyers buy. There are many things that you need to consider. First, you need to realize that as a real estate agent, you are an independent contractor; thus, selfdiscipline is very important. Without a plan, chances are, you will fail. A business plan will help you decide and define where you are going and how you want to get there. 56

THE POWER IS NOW MAGAZINE | JULY 2020

LEARN TO SAY NO!

A yes to everybody who comes your way is a burden you are putting on yourself, which, with time, will prove heavy to bear. As such, you must learn how to say no to some people and some gigs. It is understandable the fanatism that new agents have, thinking they can do it all, but this mentality is setting you up to fail. Remember, real estate is not just a business; it is a lifestyle, and toxicity is something you do not want in your life. Somethings such as overpriced listings will just waste your time. Additionally, you must say reject upfront to some overbearing clients who later turn out to be a problem. Also, you must learn to say â€˜noâ€™ regularly when you are asked to reduce your commissions. Saying no to some situation has helped me form a strong foundation in my real estate career. Again, I have found myself working with multiple clients at the same time; at this level, I can handle it, but if you are a beginner, you should say no when you know that you cannot handle it.

ALWAYS DO A FOLLOW-UP

Assuming you have had your first few clients, following up with them is crucial. This is the number one skill that real estate agents must perfect on. To build up a client roster and grow your business, follow up is essential. With a constant client follow up you will get results. Most of the real estate gurus engage in qualifying the leads, which is quite essential in determining the viability of the clients or the deal even before agreeing to the business properly. If you do not follow up with the past and the future clients or invest properly in assessing your leads, you create potential leakages in your business strategies, especially if you are considering to scale up your business. What you will notice is that the cost of acquiring a new client is relatively higher than the cost of maintaining the already gained clients. The best way to avoid follow up issues is to make sure that you stay in close contact with all your potential clients.

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CHOOSE YOUR AGENCY WISELY This is an area that most people fail in, and most newbie agents make a mistake of choosing the wrong agency to work with. Remember, what is common may not be common to you, and what appears good may be toxic to you. A good agency is one that will fairly represent you and teach you how to get your business off the ground. Make sure that you choose an agency that is reputable and well respected in the industry, but whatever agency you choose, make sure that good marketing resources, admin support, and training facilities are the core of the business strategy. We live in a digital age, and this means that the internet is awash with resources, some good, some harmful. But one thing I have come to realize is that digital marketing channels are the best. Agents who tend to ignore these channels often create a hole in their business strategies. You need to utilize digital marketing channels to your full advantage. Your goal with any marketing channel should be to get your message across the board. Thee are some of the mistakes that I made when beginning my real estate career, and with this guide, I hope that you do not make the same too. To learn more about my journey as a real estate agent, follow this link https:// thepowerisnow.com/cornelius-jackson/.

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 â€˘ Corona CA 92879 â€˘ 951.273.7320 www.PeppermintRidge.org â€˘ Tax ID: 95-2409851

THE RED FLAGS VETERANS & MILITARY HOMEBUYERS SHOULD BE AWARE OF WHEN BUYING A HOME

Jenny Gonzalez Every new homebuyer is usually excited by their breakthrough. Home buying is an exciting yet emotional milestone. This has proved to be accurate, especially for the first-time veteran homebuyers, who have spent most of their time on tour and are looking forward to a place to settle down finally. A place they call their own, a home.

omebuying no matter how exciting, it is an overwhelming process, but with the internet, every resource you need to make your home buying success is readily available to you. This makes the process a lot simpler and more affordable for the people who have served in the military. If you are a veteran or an active military member and you are in the quest for a new home, it is important that you know these red flags and try to avoid them as much as possible.

1. Too many houses

Well, there is nothing wrong with having houses on the market; after all, the lesser the bidding wars, the lower the competition hence lower prices, and there is nothing wrong with two-three open houses on the streets. However, there is a problem when you see an army of ‘for sale’ signs on the same streets. Consider looking for your dream house elsewhere. “This points to illiquidity in the market and pricing pressure, which is a risk for buyers,” says Alison Bernstein, the founder of Suburban Jungle, which helps families find their ideal suburb. However, it is good to point out that there are varied reasons for the ‘for sale’ signs, and one of them may be that the neighborhood is rapidly facing gentrification where the longterm residents may have decided to chip in. Alternatively, there may be older residents who

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have decided to downsize; whatever the reason is be sure first to investigate because you will find the vacancy rates high due to some sinister reasons like increased crime rate.

2. Recent renovations

Renovations are good, after all, who would live in a house for more than ten years without making any ma jor changes. Well, the homeowner may have decided to take down part of a wall just to create more of an open floor plan, that looks amazing, but there is a potential red flag. How was the renovation done? You will find that when a homeowner makes any big changes to the house, some other thing might go wrong, for instance, it is not uncommon to find that where a wall was removed without proper adjustments of the frames, weight can shift to other parts of the house which is a potential catastrophe. As such, before you move into your brandnew home, a home that, as a veteran, you are proud of, make sure to check any new renovations, particularly the ma jor renovations. Ask the city for construction permits and records to ascertain the very nature of any renovations done and whether they pose any real risk.

3. Your surroundings matter

As a veteran, your home is not the only thing you should be concerned with when you buy it. It is not also the only thing to inspect when considering the purchase option—your surroundings, too, does matter. Before making the big decision, take a closer look at the community you want to move in to. Furthermore, just like the first red flag we mentioned, if you notice many vacant homes, it could mean that the residents are not too happy with the neighborhood. Make sure to take a quick drive through the neighborhood, both at day and at night, and get to feel what the neighborhood is like before committing to buy the house. Talk with your to-be neighbors, ask for their opinions about the neighborhood. It is important.

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4. Check also the schools You have kids, good because this red flag concerns them. Schools are healthy for the personal nourishment and intellectual growth of both the children and the adults. In any neighborhood, by design, schools should be continuously enrolling children or at least keeping the school population steady.

“Shrinking class sizes are a red flag,” Bernstein says. Several reasons may cause the number of enrollments to decrease, and one of them is poor management. This has caused so many parents to flee to private schools, and we both know the cost of private schools is particularly high in some neighborhoods. Well, this might seem like a non-issue, but in this day and time, it is something you need to consider seriously. These are some of the potential red flags you may want to consider before finally moving into a neighborhood. If you would like to know more about property investment, or get help with VA loans, reach out to Jenny. Jenny is an industry professional, and a member of the Power Is Now Media VIP Agents. To learn more about Jenny, follow this link, https://thepowerisnow.com/ jenny-gonzalez/ Sources https://www.redfin.com/blog/veteran-homebuying-tips/ https://www.realtor.com/advice/buy/badneighborhood-red-flags-when-buying-a-home/ https://www.realtor.com/advice/buy/things-tolook-for-when-buying-a-home/ https://www.veteransunited.com/realestate/3pitfalls-military-buyers-need-to-avoid-beforeclosing-day/ https://www.wyndhamcapital.com/blog/redflags-when-buying-a-home

A SNAPSHOT OF THE RIVERSIDE

REAL ESTATE MARKET

Danon Burnside Riverside is one of the most populous counties in the State of California, having over 2.4 million residents. Most of the area’s population growth took place in the millennium Boom when there were a lot of construction jobs, and new home sales skyrocketed. However, following the 200810 recession, most people in the region were left homeless, and the region incurred deep losses in sales volume. Additionally, new construction starts halted, and employment rates dwindled.

en years after the recession, the region economy is in a prolonged recovery, slowly gaining momentum as the lost jobs in the region begin to make a quick comeback. Also, employment has almost fully recovered, exceeding the number of jobs pre-recession at the end of 2014. Today, sales agents can anticipate the sales volume to slow down and the prices to decline as we head into another recession. Currently, we are experiencing low-interest rates, and they will continue to inflate home prices. However, of importance to note is that steep loss of jobs due to the Coronavirus pandemic will keep many of the potential homebuyers from acting in the months ahead.

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Since 2011, the home sales volume in Riverside has remained relatively level. The only exception was in 2014 when the region was hit hard by the massive exit of the speculators making the sales volume to end the year at 9% below the previous year. The region has since recovered from that, and the recovery can be well traced since 2015 when the sales volume rebounded to 11% above the levels recorded in 2014. Fast forward to 2020; we are yet to see the region’s true recovery as the annual sales volume continues to plod along. The sales volume in the region will likely not recover for a few more years. Real regions recovery is expected to happen around 2022-2023, and it is actually at this point when the firsttime Generation Y home buyers and Baby Boomers retirees will converge to drive up the sales volumes and prices. But in the meantime, the trend we have to contend with a rapid reduction in sales volume and prices. During the last recession, the region’s homeownership rate fell precipitously. All through the 2000s, Riverside’s homeownership rate was always around 68% until the end of the Millennial Boom. As of Q4 of 2019, the homeownership rate had fully recovered, now at 62%. This is higher than the state’s average of 56.3%. The return in homeownership rates is quite

impressive. Job creation and stability is something attracting the most number of buyeroccupants who mainly depend on it. By the end of 2014, the jobs lost in the Great Recession of 2008 were finally recovered.

“But with the intervening eight years of population increase, the ultimate job recovery with the strong wage rises needed to support high sales volume and in turn price increases will wait until later in 2019, just in time for the economy to head into its next slump. The homeownership rate will remain below prerecession levels until the years following the next recession, only to rise when members of Gen Y collectively gain enough income to become first-time homebuyers.” – Ft Journal To get more data and insights about the Riverside housing market, reach out to Danon Burnside. Danon is an expert real estate agent with the experience to help you get the best deals out of the market. Sources; https://journal.firsttuesday. us/riverside-housingindicators-2/29239/ l

I F Y O U T H O U G H T C O R O N AV I R U S W O U L D S AV E T H E H O U S I N G M A R K E T, Y O U W E R E W R O N G .

HOUSE PRICES ARE STILL RISING Lewis Sanders III

orld economies are shrinking. Businesses are shutting down, and jobs are rapidly disappearing thanks to the Coronavirus Pandemic. According to the Department of Labor and Statistics, the unemployment rate in the country in May 2020 from 13.3 percent, which was a drop from the previous month’s rate of 14.7%. However, the housing prices in the country keep on rising despite the Coronavirus pandemic. In the last recession, the home prices in the country took a plunge, causing millions of people to lose their homes. Moreover, during this recession, there is a likelihood that the home prices could start eroding again, especially when the mortgage forbearance ends. According to a report released on May 12 by the National Association of Realtors, home prices increased in the first quarter of the year despite the coronavirus pandemic. NAR analysis of the country’s metro housing markets shows that the home prices of the median single-family home prices increased year over year in 96% of the U.S. housing markets

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in the first quarter of 2020, which is a 2% increase compared with the first quarter of 2019. Additionally, looking at the house prices in the first quarter of 2020, they sat at $274,600, which represents an increase of 7.7% from the same period in 2019. There were price increments in forty-six metros, especially those in the Southern and Western markets, with some double-digit recording jumps. These markets are; Boise City, Idaho, Eugene, Oregon, and Colorado Springs, Colorado. The NAR analysis of these markets shows that all the regional median single-family prices rose as compared to 2019: The Northeast (9.7%), Midwest (7.5%), South (7.5%), and West (7.5%). “The first quarter price jumps mostly reflect conditions before the coronavirus outbreak and show the strength of the housing demand prior to the pandemic. Even now, due to very limited listings, home prices are showing no signs of buckling.” NAR Chief Economist Lawrence Yun. l

UPCOMING EVENTS UPCOMING UPCOMING EVENTS EVENTS “Demand absolutely just got a kick in the gut, but at the same exact time, so did supply,” said Skylar Olsen, senior principal economist at Zillow Group Inc. Homes typically will go under a contract in a month or two before the contract closes; as such, the March NAR data primarily reflects the purchase decision made in February or January. However, the question that remains is why home prices are still steady? Real estate is a lagging economic indicator, which means a slowdown in the home price growth will likely be prolonged over the next several quarters and years. So far, we have seen quarters of tight supplies across most U.S. markets, which will help buoy prices.

“Supply is extremely limited, and there are simply not as many homes for sale to meet the demand among potential buyers,” Yun said. “More supply and more listings are needed to provide a faster recovery for the economy.” In the short term, the demand for housing might remain relatively short if the low-interest rates hold for a while, albeit low supply of new housing units. This will help to keep the prices relatively stable. The NAR report indicates that there were 1.5 million homes for sale, which was 10% less than the beginning of 2019. While it is too early to project the effect of the pandemic on the housing sector in the long run, early signs of the pandemic point to a potential economic downturn that is yet to begin. However, what is ostensible at the moment is that the economic recession of 2020-2021 will be much different from what was there in 2008. If you would to get more insights about the housing market, especially the Bay Area housing market, get in touch with Lewis Sanders. To find out more about Lewis, follow this link https:// thepowerisnow.com/lewis-sanders-iii/ Sources: https://www.wsj.com/articles/why-home-pricesare-rising-during-the-pandemic-11588671002 https://www.usatoday.com/story/oney/2020/05/18/ coronavirus-home-prices-first-quarterincrease/111702900/

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OAKLAND HOUSING MARKET INSIGHTS Kenneth Session

he California housing market is one of the hottest in the country. Even with the COVID-19 crisis, the markets in the state of California continue to dominate the airwaves. The Bay Area, in particular, is an interesting market as it has witnessed unprecedented growth in the past few years thanks to the massive tech companies in the area and a population explosion. These two factors have been the primary reasons for the growth in the region. Taking center stage of this dynamic, the Oakland city.

For a while now, the demand for rental property has been at an all-time high, and this trend might continue for a while. We might indeed see a massive outflow of renters from the Bay Area given the fact that tech companies are giving their employees the option of working remotely, but it will not change the fact that rental units will be in demand. Half of the properties in the Oakland city are occupied by renters. Looking into the foreseeable future, Oakland city will continue being a rent-driven city. Moreover, renters cannot move into the neighboring cities like San Francisco as they are high priced.

Additionally, when looking back to the last two years, home prices in the region in 2018 were rising rapidly until cooling off in 2019, and comparing these two years, prices for homes in the region plateaued in 2019 compared to trends in 2018. In 2020, home prices are cooling down, thanks to the Coronavirus pandemic. It is a neutral market, according to Zillow, with the median home value being $801,072. Compared to 2019, home values in the region have gone up 5.7%, and Zillow predicts that they will fall -1.1% within the next year. The median list price per square foot in Oakland is $525, which is actually higher compared to the San Francisco-OaklandHayward Metro, whose average is $499. Also, the median list

price for the homes in Oakland is $689,99, while the median sale price of homes sold in the area is $756,800. Last year, it was actually predicted that the tech companies would continue its rapid expansion into the city, but given the current public health pandemic, this might take a while. Oakland city is home to a number of tech companies, and among them include; Uber, Marqeta, and Hounds Labs. As the room for expansion becomes scarcer in the San Francisco market, companies are looking to break new grounds, and the east Bay Area seems like a reasonable place to start. An increasing number of developers are starting a campaign meant to incentivize the big tech

THE POWER IS NOW MAGAZINE | JULY 2020

companies by committing large scale projects that are tailored to the industry needs. A good example is the TMG partners that began developing an 875,000 square foot office tower that will be operation by 2021. It was expected that the supply of new housing units would increase this year, but in the advent

If you would like to invest in the Oakland Property Market, get in touch with Kenneth Session. To learn more about Kenneth, follow this link https://thepowerisnow.com/kennethsession/.

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of the novel coronavirus, the supply of more housing units is likely to be constrained. While more baby boomers had begun downsizing in 2019 to move away to more affordable areas, most sellers do not want to the seller in the middle of an economic crisis. Take a look at the following data to gain more insights about the Oakland Housing Market.

Sources; https://www.mashvisor.com/blog/oaklandhousing-market-predictions-2020/ https://fred.stlouisfed.org/series/ ATNHPIUS36084Q https://www.redfin.com/city/13654/CA/Oakland/ housing-market l

WORKING FROM HOME COULD CRATER THE EXPENSIVE BAY AREA HOUSING MARKET

Don Dunbar Twitter was the first to do it. Square then followed suit. Now Facebook is saying that it is considering it. Companies are today allowing people to work from home, and it seems to be the trendy thing to do. However, that will have a massive impact on the Bay Area housing market as most workers cannot continue to live in a pricey area when they have the liberty to work remotely while paying less. It does not make any sense to continue paying high rents when you can afford a cheaper housing option elsewhere.

shift in policy could, however, save the region where there would be downward pressure on the rents in this infamously expensive region. And note, it is not only the Bay Area that will be affected, but other places like Los Angeles and New York also fall under the same bracket too. Facebook Inc and Google have announced that the ma jority of their workforce will not be required to come into their offices for the rest of the year. Additionally, Twitter has allowed its workers to work

Surveys are showing that a growing number of people working in tech companies are now considering working from home as a great option. The current healthcare crisis has created an opportunity, forcing remote working on scores of companies, and some are embracing the change quite positively. Over the next few months, the Bay Area should expect an exodus of workers from the region to other places deemed cheaper.

from home permanently. While most workers will probably leave these expensive regions for the affordable area, Zillow says that this exodus will not be enough to put downward pressure on the housing prices in the region.

“So as long as you always have more people that want to be in these places than you are building homes to match that growth, you will continue to see home value appreciation over the long

run,” Skylar Olsen, a senior economist at Zillow says. The people who stand to benefit if the companies allow people to work remotely are the people living in other states but have always wanted to be in the tech industry. “If you are not living, or able to live in Silicon Valley or San Francisco, but you still want to work for one of those companies based there, the opportunity for that now becomes much greater,” said Arran Stewart, founder of Job. com.

THE POWER IS NOW MAGAZINE | JULY 2020

ultimately puts a strain on the affordable housing developers if the tenants were to default on their rent.

While it is true that the pandemic has furthered the rift between the tech workers and every other person, it has also created the opportunity for the tech companies to adopt the idea of remote working fully. The possibility of this shift in the tech companies has created dialogues about these companies could dramatically reshape the Silicon Valley. To date, restaurants that used to cater to the people living in downturn have been forced to close their businesses. Additionally, public transit companies are struggling to stay afloat without the riders, and the housing market is experiencing a histrionic fall in the home prices. However, right now, it is too early to tell whether a remote working trend will go beyond a few companies, reshaping the fabric of Silicon Valley. Moreover, while some companies like Twitter, Facebook, and Square are motivated to go all-in on remote working, companies like Google and Salesforce are extending the option of remote working for the rest of the year with plans to reopen in 2021. Workers are moving from these expensive Silicon Valley areas, and experts caution that this could be an anomaly. “Will someone who works at Twitter and lives in downtown San Francisco get up and move to Idaho? I do not think so,” says Sarah Karlinsky, a senior adviser at the San Francisco Bay Area Planning and Urban Research Association (SPUR). “I think it’ll be a five to 10-year process of shaking out what this all means.” Even if the workers leave, that will not necessarily mean a better housing option for the people staying in San Francisco. The people who are living in the below-market-rate housing are at more risk of losing their jobs during the pandemic, which

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It is worth mentioning that Facebook CEO Mark Zuckerberg told his employees that their salaries would likely drop if they move away from the Bay Area. However, that may sound like a threat, but experts say that may not be the case (lowering employee’s salaries) because as long as there are companies out there, competition for talent and companies will be forced to pay top dollar, no matter where a person lives. If you would like to get more insights about the Bay Area housing market, reach out to Don Dunbar through this link https://thepowerisnow.com/ don-dunbar/. Sources; https://www.theverge. com/2020/6/3/21277254/techsilicon-valley-remote-workexodus-facebook-googlecoronavirus-future https://www.nbcbayarea.com/ news/coronavirus/will-a-workfrom-home-exodus-drop-bayarea-housing-prices/2295371/ https://therealdeal. com/2020/05/16/the-exodusa-rise-in-remote-workingcould-crater-expensivehousing-markets/

SACRAMENTO HOUSING MARKET INSIGHTS Robert Langston

eal estate investment is a worthy investment. With good preliminary research, a plan, and the right prices, anyone can be a savvy real estate investor. If you are looking to invest, the Sacramento housing market may be the right place to start. It is a good market area with huge growth potential. It is also the capital of the State of California, though most people mistakenly take LA to be Stateâ€™s capitol. Sacramento is home to over 500,000 people. Nonetheless, it is usually overshadowed by the large cities surrounding it like San Francisco and Los Angeles, and most people often do not know about the investment potential of these cities. Taking into account other suburbs like the Yuba

City, Truckee, Roseville, and the South Lake Tahoe, the Sacramento real estate market contains around two million people. But is size a consideration to make when investing in real estate? No! Take an example of the Detroit market, which has risen and fallen, and the current decline of the rust belt cities are a true testament to this. As such, there are several reasons that you should be considering when looking to invest in any real estate market. In the latest quarter, the real estate market in Sacramento appreciated at 1%. If this appreciation rate holds, the annualized appreciation rate could be 4%, which triggers interest in the areas housing industry. The current median home value in the Sacramento housing market, according to Zillow, is $362,400, and it is a sellersâ€™ market. This simply means that there are currently a lot more qualified buyers in the market than there are the sellers. Over the last year, home prices in the region have risen by 5.2%. Since 2015, the median home price in Sacramento has increased from $235,000 to $365,000.

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Zillow also indicates that the median list price per square foot in Sacramento is $235, which is lower than the Sacramento—Roseville—Arden—Arcade Metro average of $248. Of more importance to note is that according to Zillow, 8.1% of the listings in Sacramento had a price cut in Dec 2019, which is a good thing for the buyers. Currently, homes in Sacramento are selling below their asking prices as the median price of the homes that have been sold out I $322,000. This shows that sellers are much more willing to negotiate on the prices of the homes as they were finding it more

Foreclosures and Bank-Owned Homes Statistics According to data from Zillow, foreclosure data in Sacramento shows that there are about 0.8 homes that are foreclosed per 10,000. This is greater compared to Sacramento’s metro, which has a foreclosure rate of 0.4 and lower than the national average, which has a foreclosure rate of 1.2. additionally, you will find that the percentage of delinquent mortgages in Sacramento is 0.7%, lower than the national value of 1.1%. Since 2007 when the number of the U.S. home values were at their peak, they have fallen more than 20% nationally until troughing in late 2011. Most homeowners are underwater on their mortgages. This means that they currently owe more than their home is worth. In Sacramento, the percentages of the homeowners underwater on their mortgages are 5.6%, which is higher than Sacramento—Roseville— Arden-Arcade metro at 4.7%. Going by the data from RealtyTrac, there are currently 613 properties in Sacramento that are in at least one stage of foreclosure (default, auction, or bank-owned). While the number of homes that are listed for sale on RealtyTrac is 267, in the last quarter of 2019, the number of homes that received

difficult selling homes at their asking prices. When it comes to renting, the median rent price in Sacramento is $1, 795, which is much lower than the Sacramento—Roseville—Arden-Arcade Metro area, which has a median rent price of $1,950. The State has some of the most expensive metros, and cities and Sacramento home prices are among the most expensive in California. Just to give you a snapshot of the median home values in some of the neighborhoods of Sacramento, check out the following data;

a foreclosure filing in Sacramento was 12% higher than the previous month and 33% higher than the same time last year. Is it Worth to invest in Sacramento? Yes. Any investment in real estate is a worthy one. Investing in real estate is one of the best and easy way to build up wealth. Most people want to know, is investing in Sacramento’s property market a worthy investment? Well, to answer this, you need to delve deeper into the local market trends to find out what the future holds for the investors in this lucrative market. However, investing in Sacramento will give you a good return in the long run as homes in the region have been appreciating Y-o-Y. To get more insights about this market, talk to Robert Langston, a real estate genius in Sacramento. Follow this link to find out more about Bobby https:// thepowerisnow.com/robert-langston/. Sources; https://www.noradarealestate.com/blog/sacramentoreal-estate-market/ https://www.redfin.com/city/16409/CA/Sacramento/ housing-market

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THESE 5 FACTORS will influence your Home Resale Value

Charles Reynolds Are you buying, selling, or investing in the property market? One thing you must have emphasized on, or you will emphasize is the property value, or in other words, how much is the property worth? From the levels of supply to demand all through to specifics such as the location of the property, facilities around the property, neighborhoods, and planned infrastructural developments and projects, several factors will influence the worth of your property. Read on to find out what factors will influence the resale value of your property.

FACTORS THAT WILL INFLUENCE THE RESALE VALUE OF YOUR HOME

1. Location

Real estate is mostly centered around the location. Properties in San Francisco are differently priced compared to the properties in places like Sonoma! That is a fact. The location of the property is one of the most obvious factors that will influence the value of the property quite strongly. People will often choose to live close to where they work and where they have free access to facilities that expedite them to enjoy their free time, as such, properties in these areas are often pricier. Additionally, the reputation of an area will influence the cost or the value of the proper-

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ty. There are some suburbans with a good reputation, which raises property values. The reputation of a place is often determined by unemployment rates, which then determines the crime rates.

2. Supply and Demand forces and Interest rate

In a market where there are many sellers than there are buyers, property values may be lower than where there is an excessive demand that outmatches the supply of the homes in the area. Additionally, the interest rates will affect the value of the home significantly. When the FED changes the monetary policy, this can influence the value of

the property. If the interest rates are raised, lenders will, too, raise the rates, which will affect the average monthly mortgage repayment by making it go up. Overall, this has a significant impact on property affordability, which reduces the bidding wars. The seller is forced to lower the price of the property, ultimately affecting the value of the property. Conversely, a reduction in the rate means a higher value for the property.

3. The economic outlook

This is another key factor that will affect your property value. Economic health is usually measured by economic indicators such as the GDP, the unemployment rates, manufacturing capacity, consumer expenditure, and the prices of goods and services, among many others. The overall performance of the economy will also have an impact on the property market. Supposing that the economy is experiencing strong growth, employment, and good labor conditions, more people can afford the properties, no matter the price. A good economic outlook translates to higher property values.

4. Home size and Usable Spaces

Home size and the available usable space will always influence the property value. A bigger house can positively impact its valuation. By now, you must know that the value of the home is roughly estimated at a price per square foot. The sales price is usually divided by the square footage of the home. The price that a buyer can pay for the square footage of the property will vary accordingly depending on several factors. Additionally, the usable space in the home will influence the value of the properties. Garages, attics, and even unfinished basements are usually not counted as part of the usable space. Pay attention to the livable space; this is what that most count and a factor that buyers will look at when making the purchase decision. Bedrooms and bathrooms are most highly valued. As such, the more the baths or beds your property has, the higher the value of the property.

5. Age and property condition

It is no brainer that homes are newer are appraised at a higher value. Newer appliances in the house will save the buyer the costs of replacing them, thus greater savings for the buyer. For instance, if the roof has a warranty of 10 years, the buyer can rest assured that over the next decade, they do not have to worry about their roofing. Compare that with an older home roof that may need a replacement. Most buyers are willing to pay more to move into a ready home. This also explains why most buyers require an inspection contingency in their contract; they want to avoid ma jor expenses in repairs. If, as a seller, your home is in good condition, expect to demand a top dollar.

Final Thought

With these five ma jor points, you can begin reshaping your home so that when the time comes to resell, you can demand a top dollar. Consider these five simple factors when pricing your home. Ultimately, you will be able to attract serious buyers and prevent your properties from staying longer on the market. To find out more about pricing your property to match the current market conditions, get in touch with Charles Reynolds. Charles Chaz Reynolds, Century 21 M&M Agent, knows firsthand the overwhelming and stress of selling and buying a home. For the past 19 years, he has help clients understand the process of buying and selling a home, also has help clients understand the process of obtaining a mortgage for purchase or refinancing. Charles has worked in the industry for 19 years. Fifteen years as a Realtor and Mortgage Consultant, four years as a Realtor exclusively. Additionally, for the past ten years as a Manager of multiple tax offices and prepared taxes. To learn more about Charles and how he can help you buy, sell or even invest in the property market in Fairfield, follow this link https://thepowerisnow. com/charles-reynolds/

THE POWER IS NOW MAGAZINE | JULY 2020

G N I S U O H O C S I C SAN FRAN

S T H G I S N I T E K MAR

he arrival of the COVID-19 has created a global economic shock. World economies are enacting policies that are meant to flatten the curve of the potential infection, and these have included the voluntary and mandated lockdowns of large sectors of the economy. Most retail establishments, restaurants, passenger transportation schools and leisure activities have been closed with businesses going almost to the ground, halting for a while as customers face a self-quarantine and practice social distancing. In San Francisco and the Bay Area, housing affordability has always been an issue, not just for the first-time home buyers, but all buyers in general. This housing market offers these buyers a limited option for their money, and while the mortgage rates have been on the decline for some time now, big down payments and an alltime high price for the homes are suppressing the sales The San Francisco housing market rivals the New York housing market in terms of the rental prices and rates and the overall price of the real estate market. Lately, the market has been making ma jor news for all the wrong reasons. For quite some time, homelessness has been an issue that spurs public hygiene issues. The city is home to close to 900,000 people; it is the hub for the San Jose- San Francisco- Oakland area. This metro area is home to nearly nine million people. In terms of real estate, in the latest quarter, the San Francisco housing market appreciation rate has been consistent at around 0.5%. This equates to an annual appreciation rate of 2%. However, due to the ongoing pandemic, prices are expected to drop maybe to 1 or 2%, which is a good sign for the new homebuyers and the investors as far as the affordability issue is concerned. Many of them cannot afford a median-priced home in San Francisco. 82

Eric Hooks Generally speaking, the San Francisco market activities, characterized by the number of listings that are going into contract, continued to gain traction in May, which is a remarkably quick comeback from the steep plunge they too following the enactment of the shelter-in-a-place orders. May is one of the busiest months in the spring season in so far as real estate transactions are concerned, but this yearâ€™s activities remained well below last yearâ€™s. However, with the easing of the shelter-in-place, as well as the marketâ€™s natural adjustment to the new normal, it is expected that the recovery will continue to surge closer to normal. I see a situation where the SF market might experience busier months than in 2019 due to stronger buyer demand and the fact that real estate activities that would have occurred in spring have been pushed to summer instead. Of importance to highlight is the fact that median sales prices for the houses and the condos also experienced a significant drop in May, however, the figures are based on low volumes of the closed sales in the month. The sales price dropped by about 60% Y-o-Y. Additionally, because the sales figures are a lagging indicator, the sales recorded in May and the sales prices mostly reflect the huge impact of the COVID-19 on the San Francisco housing market in late March and April. There was a huge increase in the accepted-offer activity recorded in May, especially for the higher tier homes; this means that the June sales volumes will be significantly higher, and the coming months will constitute a better indicator of whether the changes in the fair market value are occurring. The San Francisco housing market, just like many others, was quickly affected by the COVID-19 crisis THE POWER IS NOW MAGAZINE | JULY 2020

and the shelter in place orders, than other local, more suburban, county markets. This led to the SF housing market, seeing larger initial drops in the activities. Despite having a remarkable comeback in May, the recovery is so far lagging than most other counties if we are to look at the year-overyear statistics like Marin and Sonoma (even though they are more rural). Several factors would explain this phenomenon, but we are still in the early days, and therefore, I cannot make any definitive pronouncements with regards to the longer-term real estate market, the general economic outlook, or any effects in demographics. It is only posting the COVID-19 crisis that we can realistically make the assessments of these parameters. Rents, on the other hand, appear to be dropping quickly than earlier anticipated. This is due to the massive employee layoffs, which has typically impacted the rental market more rapidly and significantly than the for-sale market. The real drop and effects of the SF rental market still vary, with some estimating a 10% drop in the recent months coupled with large increments in the vacancy rates. Some other estimates that the rent dropped by about 25% in the following years. With so many factors influencing the rental outcome, it would be premature to give estimates about the longer-term effects on what has bee the most expensive rental market in the country. Take a look at the following charts from https://www. bayareamarketreports.com/

If you would like to get more details about the San Francisco housing market or would like to buy or invest in this lucrative market, get in touch today with Eric Hooks. To reach out to Mr. Hooks, use the following link https://thepowerisnow.com/eric-hooks/.

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Sources; https://www.bayareamarketreports.com/trend/sanfrancisco-home-prices-market-trends-news https://www.noradarealestate.com/blog/sanfrancisco-real-estate-market/ https://www.cushmanwakefield.com/en/united-states/ insights/us-marketbeats/san-francisco-marketbeats

www.StopHigherPropertyTaxes.org

Split-Roll Property Tax Measure Hurts Immigrant and Minority Communities

Background: Prop 13 Has Helped All Californians for More Than 40 Years •

For more than 40 years, Prop 13 has provided certainty to homeowners, farmers and businesses that they will be able to afford their property tax bills in the future. Under Prop 13, both residential and business property taxes are calculated based on 1% of their purchase price, and annual increases in property taxes are capped at 2%, which limits increases in property taxes, especially when property values rise quickly.

Split-Roll Property Tax Measure Destroys Prop 13 and Makes Our Economic Crisis Worse •

•

Amid an unprecedented economic crisis, special interests submitted petitions to qualify a measure for the November 2020 statewide ballot that will destroy Prop 13’s property tax protections and will be the largest property tax increase in California history. The measure will raise taxes on commercial and industrial property by requiring reassessment at current market value at least every three years. This type of property tax is known as a “split-roll tax” because it splits the property tax roll, assessing business property differently than residential property. We should reject this measure and maintain Prop 13 protections that have kept property taxes affordable and provided every taxpayer who buys a home or business property with certainty that they can afford their property tax bills in the future. Now is not the time to raise taxes and bring more uncertainty to businesses and all Californians.

Gentrifies Our Longtime Communities •

A split-roll property tax will provide a huge financial incentive for local governments to approve business projects to replace existing housing so they can receive higher property tax revenue. It will also push small minority- and immigrant-owned businesses out of our communities when they can’t afford the higher property taxes. This unintended consequence will intensify the gentrification already occurring in much of the Bay Area and Southern California coastal counties.

Hurts Small Businesses and Consumers •

Most small businesses rent the property on which they operate. The measure’s higher property taxes will mean soaring rents at a time when the federal and state government is trying to provide small businesses with rent relief to keep their doors open. Ultimately, the measure’s tax hike on businesses will get passed on to consumers in the form of increased costs on just about everything people buy and use, including groceries, fuel, utilities, day care and health care.

Hits Minority-, Immigrant- and Female-Owned Businesses the Hardest •

•

Small businesses are already struggling. This measure will make it even more difficult for them to reopen their doors or stay in business as a result of this economic crisis. Increasing property taxes on businesses by up to $12.5 billion a year will hurt female- and minority-owned businesses the most and 120,000 jobs will be lost, according to a Berkeley Research Group study. Voters are being asked to consider a measure that will only increase job losses at a time when millions of Californians are applying for unemployment benefits. According to the latest data from the Harvard Business School, about 42% of new companies are founded by immigrants in California and the most recent 2012 Survey of Business Owners by the Census bureau found that 5% of businesses in the state are owned by African Americans. Additionally, the California Latino Economic Institute found that nearly one-quarter of all businesses in California are owned by Latinos, and they are the fastest-growing component of the state’s economy. Most of these businesses start small and stay small, meaning they often rent their property and are subject to higher rents when property taxes increase. In the most recent 2012 Survey of Business Owners by the Census Bureau, 38% of all non-publicly traded businesses were owned by females and another 9% were owned equally by females and males.

Increases the Cost of Living for Everyone and Makes the Homelessness Crisis Even Worse • •

In 2019, US Housing & Urban Development data showed California led the nation with more than one-quarter of the country’s homeless population. California’s cost of living is already among the nation’s highest. We shouldn't do anything to make it even more expensive to live here. The split-roll measure will only increase homelessness and make life more difficult for Californians already living paycheck-to-paycheck.

Homeowners Are Under Attack • If businesses lose their Prop 13 protections, homeowners will be next. Supporters of the measure even admitted

that this initiative was the first step in a plan to end Prop 13, which could mean skyrocketing property tax increases for all California homeowners.

Ad paid for by Californians to Save Prop 13 and Stop Higher Property Taxes, sponsored by California homeowners, taxpayers, and businesses Committee major funding from Western Manufactured Housing Communities Association California Business Roundtable California Taxpayers Association Funding details at www.fppc.ca.gov

BE CAUTIOUS OF BUYING A HOME WITH SIGHT UNSEEN HERE IS WHY Briana Frazier There comes a time when the market heats up, and the bidding wars start, the potential buyers sometimes are tempted to make their investment on the home with the site unseen. Today, with the Coronavirus pandemic, and the stay at home orders, buyers are tempted to also make their first purchase without assessing the property themselves. Additionally, in a very competitive scenario where a home is listed and goes under contract in just a matter of hours, buying with the sight-unseen may be necessary. Another case is where maybe you have been forced to move across the country due to work, and you do not have time to tour the area before making a decision. All these are probable scenarios that might force a buyerâ€™s hand to buy with sight unseen.

hatever the reason, some risks are associated with buying a property without first seen it. Be that as it may, over the years, I have seen most buyers willing to take and overlook these risks. As a matter of fact, in a 2017 survey conducted by Redfin, at least 33% of people who bought or sold a home, or planned to do so made an offer without first seeing the property. Going by the trends from earlier years, this is true; people are willing to stake their bets on a property without first assessing it. With technology, photos, virtual tours and video conferencing, millennials are feeling much more comfortable making these decisions. Can a remote buying process go smoothly? Buying with the sight unseen reduces the emotional impact that is usually associated with the purchase of a home. That can be a good thing. Today, international buyers are much more inclined to buy the property with the sight unseen, and it is now becoming a trendy thing to do. For instance, there are plenty of properties that are relatively well priced in the blue-chip inner cities, and therefore, if a person is interstate, overseas or just does not have the time to tour the property, this might be the only way to buy. THE POWER IS NOW MAGAZINE | APRIL 2020

It may seem risky, but there is no reason to worry, a remote buying process can still go very smoothly as it would if a buyer is buying in person. However, there are some red flags you need to watch out for. Read on to find out more;

1. NOT ALL AGENTS CAN BE TRUSTED For the first time home buyers, you might be in a time crunch and the property you want to buy a competitive offer, as such you are forced to pick just any agent you find, that is a mistake! You should take your time to find out more about the agent. They will be your eyes and ears during the property touring, therefore, find someone you can trust. If you are looking to buy in the beautiful Los Angeles area, get in touch with me through this link https://thepowerisnow.com/brianafrazier/. Additionally, if you want to buy from other areas in California, find agents you can trust from the Power Is Now Media through this link https://thepowerisnow.com/vipagent/. These are industry certified agents who are committed to helping you in the journey to homeownership. The agent that you choose should be knowledgeable about the market. The first good place to start is reading the agentâ€™s reviews and after you have a shortlist of your agents, interview them. Make sure also to ask the right questions to determine if they are a good fit for you.

2. DO NOT BE FOOLED BY THE LISTING PICTURES Some sellers are legitimate, but most are not. With the advancement of technology and photo editing software, home photos can be accentuated to give a good appeal of the home for the home buyer, thus trapping their interest. Do not be fooled. With a virtual tour of the property, you can be able to see some more of the property to make sure that it is a good fit for you. Also, you must note that sellers will select some parts of the home, leaving most parts out, and these usually are the parts that they do not want you to see.

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3. DO NOT SKIP YOUR TOUR Speaking of virtual tours, anytime the agents visit the property, do not skip the event. Seeing is believing. When you believe you buy and as such, you need not make an offer based on the photos that you are seeing. You need to tour the whole property before committing to it. If the agent can be able to provide you with 3D virtual tours, the better, these will help you see every nook of the home as if you were touring it in person. However, what works best is a live tour that ensures that you are not submitting an offer unaware of the creaky floors or any off features you might notice.

4. VET A QUALITY HOME INSPECTOR This should apply whether you are buying a home on sight or off the sight. A home inspector is a crucial step, and they come very much in handy in the home buying process. They add to what the real estate agent could not spot. Just as you chose your real estate agent, you need to emphasize the same when it comes to choosing your home inspector. You should never make a mistake of hiring just any person you first meet, take some time, review them and choose only the best. These are just some things you need to be looking for if you are buying a home with the sight unseen. If you would like to see properties in Los Angeles or Riverside, get in touch with me today through the following link, https:// thepowerisnow.com/briana-frazier/ and let us get you into your home. Sources; https://www.redfin.com/blog/buying-a-house-sight-unseenmistakes/ https://wtop.com/news/2016/12/the-dos-and-donts-ofbuying-a-home-sight-unseen/ https://www.forbes.com/sites/investopedia/2013/12/03/ buying-a-house-sight-unseen-good-deal-or-badmistake/#5bb1d8c504cd https://www.huffingtonpost.com.au/2017/10/03/whyyou-need-to-be-careful-about-buying-property-sightunseen_a_23230441/

THIS VETERAN HAS EXPERIENCED ENOUGH.

HE SHOULDN’T HAVE TO FIGHT HOUSING DISCRIMINATION BECAUSE OF HIS DISABILITY. Sergio lost his leg and his hearing while serving our country overseas. Now back home, he was ready to start a new chapter in his life. But when he found the perfect apartment, the landlord refused to make a reasonable accommodation to allow his service dog in a “no pets” building. Then Sergio learned that the Fair Housing Act protects people with disabilities. He contacted HUD and filed a complaint. Today, Sergio is feeling right at home. If you believe you’ve experienced housing discrimination, please contact

hud.gov/fairhousing 1-800-669-9777 50 YEARS OF OPENING DOORS. 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.

LOS ANGELES HOUSING MARKET FORECAST AND TRENDS IN 2020 Adrian Bates

ccording to data from Realtor. com, May Housing data reveals that the United States housing market has more likely to have reached its record lows during mid-April, with some constrained new listings and minimal price growth. Nonetheless, there are some signs of recoveries as the yearly declines in the newly listed inventory slowed, and the listing prices recovered. Despite the many positive trends, there still exist COVID related challenges that are causing many markets to linger behind. This can be seen from the fact that homes were on the market for more than two weeks longer than what was recorded in 2019.

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Improvements in new listings but low for-sale homes As we entered May, the total number of homes that were available for sale in most markets continued to dwindle. On a national level, the inventory declined 19.9 percent, Y-o-Y, which indicated a faster rate of decline as compared to the 15.3 percent Y-o-Y drop recorded in April. Realtor.com data showed that this decline resulted in a loss of at least 25,000 listings compared to May of 2019. Additionally, when looking at the volume of the newly listed properties in May, there was a decline of 29.4 percent since last year. Even though this yearsâ€™ records are well below last yearâ€™s levels, the rate of decline in the newly listed properties has significantly improved from a decline of 44.1 percent Y-o-Y in April. This means that the sellers are starting to make a come back to the market.

Looking at all the ma jor metros, the housing inventory declined by 21.9 percent Y-o-Y in May. This, however, is an acceleration as compared to the 16.0 percent Y-o-Y decline recorded in April. The areas that are hit the hardest by the pandemic are the ones that have recorded the biggest declines in inventory. These are PhiladelphiaCamden-Wilmington (-38.6%); Providence-Warwick (-35.8%); and lastly BaltimoreColumbia-Towson (-34.5%). It is worthwhile noting that this year, none of the 50 ma jor metro areas have seen an increase on the year-over-year basis, and 43 out of 50 have recorded declines in the last month.

What is the Situation in L.A.? It is hard to predict what the economy will look like in the coming months, leave alone the housing market. Already, there

is a threat of a second wave of the COVID-19, the trade war between the U.S. and China are building up on the background, mounting debt problems, increasing bankruptcy among many other make it hard to tell what the future looks like with certainty. All these factors, coupled with the fact that we do not know the exact time to a vaccine, will be found, makes predictions about the economy and the housing market too sketchy. Nevertheless, what most people do not what to talk about is the electioneering period, and what a loss for the sitting president would mean. A loss for the president could lead the country into economic turmoil. Additionally, right now, most people are waiting for a second wave of bailout from the president, but how much more can money the president print to deal with the COVID-ballooned recession? Without a bailout from the president and with the risk of a second wave of the virus, cities like the L.A. and New York could face bankruptcy. Currently, California is facing a deficit of $64 Billion, with many more pensions in crisis. The tax base is also disappearing slowly from the fact that the state unemployment rate is skyrocketing at 15.5 percent and 9% less in personal incomes. Furthermore, businesses were moving out of the state, and now, the situation is worse as most cannot stay afloat due to the high rents.

L.A Sales Stats in Q2 2020

April sales statistics show that the home prices dropped 1 percent in the greater Los Angeles region. Additionally, the inventory dropped 20 percent. Notably, the growth in the listing prices has stopped as the homes make a come back on the market, and businesses reopen. The fact is, the high prices of homes in the Los Angeles area will keep on escalating

because the shortage of housing in the area simply will not allow it to fall. Part of the reason is that the state does not facilitate more housing construction. The result of this is a massive exit of people from the state into neighboring states like Texas. Rents have not declined, and, past the Corona era, homes prices will shoot up pricing so many people out. Remember, most people have lost their jobs to the virus; the economic implications post-Corona will be massively negative. With the reopening of the economy, more listings will come on board, however, not as many as the listings recorded in February this year. Most sellers are resisting, but foreclosure will be on the rise, which creates more opportunities for eager buyers. There were variations in price across the stateâ€™s cities in April, which reflected the migration of the Californians to areas with cheaper and affordable housing units. With the directives to work at home, most employees feel the need to move to lesser expensive areas, but that has not changed the fact that sales have plummeted in most cities ranging from -10% to -36%. In the Greater Los Angeles region, the home sales dropped in April by 25.6% and 15.5% in the L.A. region. Countywide, sales plummeted 30.6% compared to a year ago. Nonetheless, prices for homes rose 3.9% from last year. Right now, it is difficult to tell what the future looks like for the county; however, with construction expected to dwindle, it is only fair that you get into a home. If you are looking to buy in L.A., talk to Adrian Bates. She is an industry professional with the A-1 Realty to find out more about Adrian, follow this link https:// thepowerisnow.com/adrian-bates/ Sources; https://gordcollins.com/real-estate/los-angelesreal-estate-forecast/ https://www.realtor.com/research/may-2020data/ https://managecasa.com/articles/californiahousing-market-report/ THE POWER IS NOW MAGAZINE | JULY 2020

Tips to increase your credit score

Quickly and buy your first home

Andre Jackson Seeking for the best mortgage deals? Well, you must work on your credit score first. The journey to homeownership, especially for the first-time homebuyers is one of the toughest. In todayâ€™s mortgage market, lenders are tightening the lending standards, but one thing is constant, your credit score must impress the lender. While the score will vary accordingly depending on the type of the loan and the lender, typically, having a credit score of over 620 will wow most conventional lenders. Nonetheless, lenders are raising the bar for the required minimum credit score, and most are now looking for a credit score that is at least 700 from the new borrowers. The credit report and the credit score are two very different things and are both important considerations that the lenders look at in deciding whether you will be approved for a mortgage or not. The information that is in the credit report is used to calculate your credit score, with a higher score, you can qualify for better loans (lower mortgage rates). If you are already in the housing market, trying to fetch better deals, you may need to work on your credit score fast in order to meet the minimum threshold to buy a new home. But even before we get there, you need to understand that a good credit score is never built overnight, it will take some time, and you must be very patient and consistent. However, there are somethings that you can do to raise your credit score fast and in record time. WWW.THEPINMAGAZINE.COM

1. WHERE DO YOU STAND? Know where you are and where you stand. The first essential step in the process of raising your credit score is creating a baseline. In order to improve your credit score, you need to know and understand where are in so far, your credit report and score is concerned. Start by checking your credit reports and getting your credit score. You can check your reports at least once for free from the three ma jor credit reporting bureausâ€”TransUnion, Equifax, and Experian every 12 months. 2. MAKE SURE YOU LOWER CREDIT UTILIZATION RATIO What is the credit utilization ratio? This is a ratio that shows how much you currently owe divided by your credit limit. Let us assume that you typically charge up a $1,500 credit card balance in each month and your credit card limit across all your cards is $10,000, your credit utilization ratio is 15%. You need to be careful with how you play along with this ratio as it can affect and impact up to 30% of your credit score. This makes it one of the ma jor players in the overall credit score.

UNDERSTAND HOW YOUR SCORE WORKS Probably, one of the reasons why you have a low credit score is because you do not understand how your credit score works. While it is true that there are various credit scores, the FICO score is the ma jor one, used by over 90 percent of the top lenders when making lending decisions. The FICO score is usually calculated using both the positive and negative information that is reported on your credit report. Basically, the data that is computed to give you a credit score is broken down into five main categories; • • • • •

Payment history-35 percent. The amounts owed-30 percent. Your credit history (length)- 15 percent. New credits-10 percent. Types of credit used- 10 percent.

You have to, however, understand that each lender has their own established criteria with regards to the underwriting of new loans and how they manage their existing loan portfolio. Your credit score is an isolated factor among several that the lenders will consider before giving your loan. 3. IF YOU NOTICE ANY ISSUE FIX THEM You now understand how the credit scores are calculated and how they work; it is time to focus on fixing the minor issues and items that are bringing your score down. To help you with this, go through each of the three reports lines by line. In this process, you have to verify that all the information in the report is, in fact, correct, highlight all the negatives and or the incorrect information. These are your areas of improvement. Additionally, it is not uncommon to find that your report has some credit errors. In fact, according to government data, more than 1 in 5 Americans have errors in their reports. These errors can hugely impact your ability to qualify for a mortgage, which will hurt your rate too. However, there is a recourse; once you note some inconsistencies, you are entitled to a dispute on the credit report. 4. BECOME AN AUTHORIZED USER If you have a relative who has a relatively good credit score, consider asking them to add you as an authorized user on one of their accounts. While the cardholder might still withhold you from using the card, or even giving you the account number, you can still benefit from it.

An authorized user can build credit; however, it can be good or bad; this is usually dependent upon the primary account holder and how they manage their balances and bill payments. As such, be an authorized user on an account that is owned by a person you trust, a person who is responsible. 5. DO NOT OPEN NEW ACCOUNTS You must know that every time you chose to open a new credit line, the lender pulls your credit report as part of the application process; this is a process called a hard inquiry. In the short term, it will harm your credit score as it is placed on your report even if you are not approved. Some types of loans, mainly the instalment contracts, will at first bring the credit score down for the first few months before eventually helping you build up your credit. Additionally, the lender will use the DTI, and a new large monthly payment will possibly change these ratios, placing you into a category where you can no longer qualify for a loan. As such, you should wait until and after you have completed your home purchase before you make any big financial commitments. Do you wish to buy a home in Richmond, or even get a more in-depth analysis of how credit scores work, talk to Andre Jackson. Bishop Andre W. Jackson is a native of Richmond, California where he still resides and for over 21 years has owned Jackson Medical Supplies and Equipment. He owns a record label, Ground Up Record & Production Co., and is the Vice-President of BASA Publishing and The American Clergy Leadership Conference of Northern California and National Co-Chair. Bishop graduated from Sacramento Theological Seminary with a master’s degree in Christian Counseling and Theology and a doctorate degree in Christian Education and Theology. To learn more about Andre, follow this link https://thepowerisnow.com/andre-jackson/ Sources; https://www.homelight.com/blog/how-to-improvecredit-to-buy-home/ https://themortgagereports.com/37200/preparingto-buy-a-home-how-to-raise-credit-score-fast https://www.redfin.com/blog/how-to-increase-yourcredit-score-quickly/

THE POWER IS NOW MAGAZINE | JULY 2020

VIRTUAL HOME TOURING? NO PROBLEM, BUT MAKE SURE YOU ASK THE RIGHT QUESTIONS

Joe L. Fisher Lately, there has been a surge in virtual home tours which has resulted in somewhat a confusion, since it is always not clear the operating standards and procedures and what they should look like. In the advent of the Coronavirus, the norm was broken. Buyers usually commit to buying after connecting with property emotionally, and that is hard to do with virtual tours. As such, a good virtual tool will require both the seller and the buyer to be prepared.

or the buyer, they need to know what questions they need to ask the realtor or the seller. If there are questions to ask when you are touring the property in person, there definitely must be questions to be asked when touring the property through virtual tours, especially today in the wake of the COVID-19. It is more likely that today, selling or buying a home will be through virtual tours. As such, with this guide, you will know all the right questions to ask, thus making your virtual real estate home tour a successful one. BEFORE THE VIRTUAL TOURâ€Ś Even before you start your virtual tour, there are some considerations you need to make there are something that should never miss in your discussion with the realtor or the seller. For instance; the floorplan of the home. This will act as your reference guide during

the virtual tour. As such, you must know the floorplan of the home even before you start your tour. Additionally, knowing your floor plan beforehand helps you get a better sense of the size of the property. DURING THE VIRTUAL TOUR Feature of the homes: Do any of the homeâ€™s features require repairing? One thing you will note is that it is always hard to tell from the video which features are worn out or damaged. As such, you need to ask the agent or seller if there are features that are damaged, or worn out. Location. Where is the home located, what is the neighborhood like? You need to comment on the area surrounding the home. This will be determined by the noise levels inside and outside the home. Is the home located in a THE POWER IS NOW MAGAZINE | JULY 2020

busy street, what are the surrounding areas like? Also, how close other homes in the area. Interior conditions. This might seem like nonissues, but you must ask your agent about the interior conditions of the home. What is the direction of the natural light? In the carpeted areas, when walking around, can you hear any creaking or other sounds? Do you notice any odours inside or even outside the home that are unusual? Also, get to the details of the appliances used in the house, ask questions like how old are the kitchen appliances? Remember, you do not want to incur any additional costs to replace broken appliances. Exteriors view. How is it like? Is it well maintained? One thing you must have noticed is that the curb appeal plays a huge role in adding to the home value, as such, do not forget to ask about it and any other outside features. AFTER THE VIRTUAL TOUR After the home showing, you need to ask the agent if there are any noticeable differences between the in-person tour and the listing photos. This is crucial; it tells what kind of a seller you will be dealing with. Some sellers

will accentuate the features of a home in the picture, but, you will be met by something completely different. Additionally, you need to ask the realtor of his personal view of the property and if there are any other features that he perhaps noticed that might be of concern. Since they see the property in person, they might be able to tell the differences and spot any features that stick out to be highlighted. With this information, you will be able to get the most out of your virtual home tour. Would you like to view some homes in Richmond through in-person tours or virtual home tours? Get in touch with Joel L. Fisher, an industry veteran. He is also the founder of Fisher Realtors. To find out more about Fisher follow this link; https:// thepowerisnow.com/joe-fisher/ Sources; â€œQuestions to Ask When Touring a House on Video-Chat,â€? Redfin (April 17, 2020): https:// www.redfin.com/blog/questions-to-ask-whentouring-a-house-on-video-chat/

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.

THE REAL IMPACT OF CORONAVIRUS ON THE

HOUSING MARKET IN NEW JERSEY

Jerel Washington

TTOM Data Solutions released its report, which shows that the housing markets in the Northeast and Florida are much more vulnerable to the economic impact brought about by the Coronavirus epidemic. The markets in the West and the Midwest are less affected by the pandemic. As of writing this article, there were 1.96M confirmed cases in the United States with 458K recoveries. Unfortunately, the country had lost 111K people to the virus. As the number of

HOME SALES

Home sales are usually heightened during the spring season. The spring months are critical for the housing market; this is a prime time for the sellers to list their homes for sale and the buyer and real estate investors to hit the market and buy their properties. According to NAR, 40% of the annual home sales happen in March through June. This year, however, has been different. Living with the pandemic has proved challenging. Seeing that many people have already lost their jobs, that combined with the fact that most people are in quarantine, homes sales have been dwindling. Though there some markets

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COVID-19 cases continues to skyrocket globally, markets and industries are feeling the weight of the burden caused by the virus. Real estate is no exception. Many housing markets are reporting declined sales activities, with more looking to get a wave of foreclosures soon. Statistics show that the hardest-hit states in the country include; California, New York, Washington State, and New Jersey. But how bad is it, especially for New Jersey?

where sales have been unaffected, the same cannot be said for some states like New Jersey. The New Jersey housing market started to experience the impact of the COVID-19 signaled by a drop in the real estate activities among the sellers and buyers as both have been feeling quite an unease. The homebuyers are fearful of buying in an uncertain economic climate, and it is typical of them to suspend all their property searches until this crisis is fully over. Moreover, with the shelter-in-place orders and social distancing has brought worries to the sellers who are unsure about welcoming outsiders into their homes. What we are experiencing now is

THE POWER IS NOW MAGAZINE | JULY 2020

the sudden shift in the New Jersey real estate market on the sellerâ€™s side, and most do not want buyers in their homes. Even though the Department of Homeland Security Cybersecurity and Infrastructure Security Agency added real estate in the list of essential businesses, which means that real estate activities can continue with their normal operations during the pandemic, few markets are yet to normalize. The governor of New Jersey quickly permitted home buying and selling during the pandemic, but does that guarantee that home sales will be on the rise? Time will tell. While the real estate professionals are urging the sellers not to worry, buyers, on the other hand, can expect a low bidding war. Open Houses Prohibited and Agents Are Coping Governor Phil Murphy permitted real estate business to continue normally; however, there have been stern restrictions to open house. Real estate agents can conduct home showing on a one-on-one basis. While many buyers are off their buying plans, real estate agents in the states are continuing their work, keeping in mind to take every precaution on the home, showing requests while strictly following the outlined guidelines from NAR. The reality is, with the stay-at-home orders, there has not been any significant showing. Additionally, home closings have also been impacted, seeing that some of the municipalities are closed to the general public. Also, home inspections have been affected too. Overall, the

New Jersey agents all agree that it has become impossible to predict what might happen over the next few months. Optimistically, they predict a rise in the number of home sales when the pandemic is over. To learn more about the New Jersey housing market, reach out to Jerel Washington. He is a full-time Realtor & Real Estate Investor who focuses on the needs of his clients & partners from Central New Jersey to the Jersey Shore, spanning Five (5) counties. Since starting his career in real estate in 2004, Mr. Washington has sold approximately $231 Million in Real Estate Sales Volume. With over 21 years of professional corporate experience in the Technology Sector, specifically, IT, Tech Services & Internet Sales, Product Development & Marketing, Public Speaking and as a Sales Trainer in Silicon Valley, Mr. Washingtonâ€™s base of knowledge and experience to create a winning formula for buyers and sellers is proven and unmatched. To learn more about Jerel, follow this link https:// thepowerisnow.com/jerel-washington/. Sources; https://www.forbes.com/sites/ lisachamoff/2020/04/07/new-jersey-floridahousing-markets-are-most-at-risk-fromcoronavirus/#1a832c44ce20 https://www.mashvisor.com/blog/housingmarket-predictions-2020-spring/ https://patch.com/new-jersey/belleville/impactcoronavirus-u-s-housing-market https://www.mashvisor.com/blog/corovavirusnew-jersey-real-estate/

HELPING YOU MASTER YOUR SPECIAL

Johnnie Morine

ohnnie Morine, Dallas real estate mogul, has announced the release of his new book titled MASTERING YOUR SPECIAL. The book highlights the S.P.E.C.I.A.L. that he discovered to help achieve financial and personal success while explaining how overcoming struggles can create indomitable personality traits that can lead to a fulfilling and gratifying life.

Brief Synopsis of Masterminds

Author and coach, Johnnie Morine, wants to help you claim your inner you. In a dream, Johnnie Morine asked himself, why does selling homes come so easy for him. “Why am I special?” He also asked himself, how can he help other agents be more successful? The acronym SPECIAL was crafted within the dream that Johnnie calls “a set of genuine disciplines.” The sales approach was well-defined from Swag/Self-image, Persona, Excellence, Common Goals, Integrity, Attitude, Alliances, Audacity, and Latitude. MASTERING YOUR SPECIAL is a clear anecdote to build self-awareness and stimulate the selling of yourself. That is where all relationships start. The content within the book will provide detailed descriptions to help you shape your destiny. WWW.THEPINMAGAZINE.COM

In this book, you will find what makes you tick and what makes you SPECIAL. The goal is to master what makes you special and how to make other people interested in what you are selling. Whether you are starting a personal or business relationship, you will understand how to sell yourself better.

“If this book can empower just O.N.E. individuals, then I feel that it has served its purpose. Sharing knowledge can inspire change. Things are never as bad as they may seem – we just have to keep pushing forward.” Said Morine. Currently, MASTERING YOUR SPECIAL is available on Amazon. ABOUT JOHNNIE

Over the course of almost 30 years of running successful business and strategic partnerships, Johnnie’s simple philosophy and approach to life have taught him the value of commitment, motivation, collaboration, and an entrepreneurial spirit. Starting small as a sales agent, and an entrepreneur back in 1984, the idea to venture in the real estate industry had always been with him, but had not yet materialized. Today, Johnnie runs a prolific real brokerage firm where Seasoned REALTORS realize the bottom-line and how it affects their lives. To learn more about Johnnie, follow this link https://thepowerisnow.com/johnnie-morine/. Sources: https://www.greaterdfwhouses.com/blog/article/masteringyour-special-by-johnnie-morine/bl93758e939b7b4c https://thepowerisnow.com/johnnie-morine/

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SNAPSHOT OF THE OHIO

REAL ESTATE MARKET Julius Cartwright Ohio means “great river” deriving its name from the Iroquois tribe. The river today is called Ohio River and is the largest tributary of flowing into the Mississippi in terms of volume. The biggest cities in the state are Cincinnati, Columbus, and Cleveland, each having a population of over 2 million people.

ith these three large metro areas, each having a population of over 2 million people, that coupled up with some other large cities including Dayton, Toledo, Youngstown, and Akron, it is therefore not a surprise that the Ohio State is one of the most populous states in the country. In fact, with a population of 11.5 million people, Ohio state ranks 7th in terms of population. In terms of racial diversity, 82% of the Ohioans are white, closely followed by people of African American descent who make up about 12% of the total population. 3% of the population are Hispanic, 2% are multiracial, and 1% are Asians. As of early 2016, the US census reported that the median household income for the Ohioans was $48,308 and approximately 15% of the residents in the county are living below the poverty threshold. Notably, Ohio is the home to at least 140 institutions of higher learning. These include the nationally ranked schools like the Ohio State, Case Western Reserve, Kenyon College, and Oberlin College. In terms of education, people in Ohio are relatively well educated with more than a quarter of the population having a Bachelor’s degree. Over 88% of the residents in Ohio are high school graduates.

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OHIO REAL ESTATE MARKET Like almost all parts of the country, the demand for new housing units continues to outpace the supply. This has put upward pressure on prices. According to the Columbus Realtors, the total sales that were closed in 2019 in Central Ohio rose about 2% reaching a mark, 31,520. Additionally, the average sales price also rose 6%, reaching $227,658. According to Zillow, in 2020, the median home value for homes in the state of Ohio is $153,593. This shows that over the past year, home values have gone up 5.3% and Zillow predicts that the prices will fall -1.4% within the next year. Looking at the Ohio real estate market, we have to spotlight the Columbus, Cleveland, and Cincinnati housing markets. Columbus is the state’s capital and has come to be largely known for its rich historic neighbourhoods. These include the Victorian village, among others. Columbus median home value is $174,109. Data shows that the home values in Columbus have appreciated 8.4% over the past year, and they are predicted to fall -0.6% within the next year.

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Cleveland, located in northeastern Ohio, is another real estate market significant to the state of Ohio. Located on the shores of Lake Erie, the city offers a historical experience that you never want to miss. In total, the city has about 176 neighbourhoods, 25 historic districts, and more than 250 landmarks. The city’s median home value is $68,757. It is important to note that Cleveland is a black ma jority city with 52% of the population composed of African Americans. Further away in the hills of the Ohio River Valley in the Southwestern corner of the state in Cincinnati. Neighbourhoods here range from tree-lined streets with some of the nation’s inexpensive homes in the hills overlooking the city. The median home values in Cincinnati is 165,613. The market is very hot, characterizing a seller’s market. Over the past year, home values in Cincinnati have gone up 4.9%, and Zillow predicts that they will fall -1.3% within the next year. If you are looking to invest in Ohio rich real estate market, talk to Julius Cartwright. Julius is a member of the inviteonly Power Is Now VIP Agents

program. The VIP agents program is a program run by The Power Is Now Media for real estate agents and professionals. To learn more about this program, follow the link; https://thepowerisnow. com/vip-program-2/. Julius Cartwright personifies the essence of a successful visionary, speaker, author, and strategic serial entrepreneur. His thoughtful approach, ability to actualize, and chart a result-driven business course has earned him the respect of his community, industry peers, and emerging business leaders. His thriving ventures, DreamTeam Realty, Inc., a fullservice Real Estate Brokerage; Upscale Select Builders, Inc., a New Construction & Rehabs Development Company; and Equity Movement Enterprises, Inc., a free consumer-based membership organization serving as the Uber of Financial Awareness and the Amazon of Financial Wellness. To learn more about Julius, follow this link; https:// thepowerisnow.com/juliuscartwright/ Julius Cartwright Real Estate Agent Dream Steam Realty. Sources; https://www.bizjournals.com/ columbus/news/2020/01/27/ whats-it-going-to-take-for-thecentral-ohio.html https://www. neighborhoodscout.com/oh/ real-estate https://www.fortunebuilders. com/columbus-real-estatemarket-trends/

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Long Doan

MINNESOTA: MINNEAPOLIS, MN REAL ESTATE MARKET TRENDS & ANALYSIS All eyes are in Minnesota, mainly because of the unfortunate incident that happened in late May, where a police office blatantly killed a black man in daylight, spurring a massive riot all over the country. What happened in Minnesota, my beloved state, is something that I am not proud of. It sends us as a country so many years back, and I feel the systemic racism that has crept the very fabrics of the institutions meant to protect live and human dignity have failed, quite miserably. My condolences go to the family of George Floyd; no family should ever lose a son in the manner that George did. All we can hope for is that justice will be done.

innesota, despite the stain marks made by some inhumane people, is a good state. If you are a keen investor, or if you are looking for your next residence, the future is in the Minneapolis real estate market. The Minneapolis real estate market is following the example set by the national trend, which is to mean that the market is moving in a promising direction. Therefore, home prices in the region continue to rise in lieu of the constrained supply of new housing inventory. Even with the prices rising, you would expect the demand to subside, but

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on the contrary, demand remains to be strong, which shows there is an insatiable demand for housing in the region. Of importance to note, however, is that while the appreciation of house prices continues for the seventh year now, real estate in the state is incredibly affordable.

FUN FACT: DID YOU KNOW THAT IT IS MORE AFFORDABLE TO OWN A HOME IN MINNEAPOLIS THAN RENTING ONE? THE POWER IS NOW MAGAZINE | JULY 2020

AN OVERVIEW OF THE MINNEAPOLIS MARKET

The median home value in Minneapolis is $291,476. According to Zillow, the market in Minneapolis is warm, and in the last year, home prices in the area have gone up 3.3%. Zillow also predicts that they will fall -1.8% within the next year. Here are some more statistics about the market;

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Average Days on the market: 67 Median Rent Price: $1,800 Price-to-rent ratio: 13.13 Percent with negative equity: 6.3% Unemployment rate: 3.0% Population: 425,403 Median Household Income: $58,993. Percentage of vacant home: 8.83% Foreclosure rate: 1 in every 2,799 (3.5%)

The housing market in Minneapolis is forecasted to be on a positive growth tra jectory over the course of 3 years ending the 3rd quarter of 2021. The Minneapolis real estate market trend indicates that there was an increase of 7% in home sales and a 3% rise in the past year. As recently as of the second quarter of 2019, the Minneapolis real estate market ranked among the topmost cities with increasing housing flipping rates. The year 2019 was a year marked by an increased flipping rate in almost all housing markets reaching a nine-year high, but WWW.THEPINMAGAZINE.COM

Minneapolis stood out, recording the largest increase in flipping rates than the ma jority of the national housing markets.

“Along with Raleigh, Charlotte, and Milwaukee, other metro areas with a population of at least 1 million and a home flipping rate increasing in the double digits were San Antonio, Texas (up 47 percent); Houston, Texas (up 41 percent); Atlanta, Georgia (up 38 percent); Pittsburgh, Pennsylvania (up 36 percent); and Minneapolis, Minnesota (up 33 percent),” according to the latest Q1 2019 U.S. Home Flipping Report. IS THIS THE RIGHT TIME TO BUY IN MINNEAPOLIS?

If you look at the statistics and the current trends of the Minneapolis city, one thing is particularly evident; everything has been moving quite softly in the city. But is it a good time to invest in this market? Is this the right time to buy a home in Minneapolis? Currently, the increased interest in the Minneapolis housing market has largely been due to the affordability of homes in the area. The price-torent ratio in the region favors buying where it is more affordable buying a home than renting, which only means the demand for homes in Minneapolis is inherently higher. Moreover, while renting a home in Minneapolis remains an open question, the affordability of buying could limit their upside. l

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GENERALLY, HOW IS THE HOUSING MARKET IN MINNEAPOLIS Well, it is doing quite well! And that should not be a surprise to anybody. However, that is not to say that the market is performing optimally, there remain vacuums where the market needs to fill. RealtyTrac reports that the Minneapolis real estate market has about 537 properties under foreclosure, each of which is at least in one of three stages of distress; default, auction, or bank-owned. Additionally, RealtyTrac data shows that of the 73.6% of the distressed properties in Minneapolis, an overwhelming ma jority of the foreclosures are of the auction variety. This is to means that homes have already been repossessed by the lender and have been placed on auction.

HOW MUCH DOES IT COST TO BUY IN MINNEAPOLIS?

Price is a factor to consider when buying a home. Over the recent past, Minneapolis has seen a positive growth tra jectory regarding home values. The median home value in Minneapolis is $291,476 going by the most recent data from Zillow. In a year, Zillow predicts that the prices will fall -1.8%. Over the last year, home prices in Minneapolis have appreciated 3.3%, with this increase attributed to several factors. One of the prevalent factors is the price-to-rent ratio. At 13.13, the price to rent ratio suggests that it is cheaper to buy 114

Consequently, investors interested in investing in the Minneapolis market and are interested in the acquisition of the distressed homes may find auctions to be their best source of deal. The remaining portion, 26.4% of the properties on foreclosure, are considered to be bankowned properties. You must take note of these statistics about the Minneapolis housing market and their distributions in order to place their odds intelligently. To help you in decision making, one of the most important things you have to look at is the neighborhoods with the highest distributions of foreclosed properties if you want to acquire the best deals at a discounted rate. According to the RealtyTrac, some of the neighborhoods in Minneapolis with the highest distribution of the distressed homes are;

a home than renting one. This has resulted in people leaning more towards purchasing homes than buying, leading to increased demand for housing. At the same time, the supply of new housing units has constrained the market, pushing the prices up. As of July last year, the single-family inventory was relatively low, and with just about 1.7 months of single-family inventory, the Minneapolis housing market is 4.3 months shy of a balanced market. Nevertheless, it is worth stressing that the THE POWER IS NOW MAGAZINE | JULY 2020

Minneapolis housing market is characterized by affordability. Since it is more affordable to buy than rent, the city is expected to flux with buyers, which bodes incredibly well for the investors. In the recent past, we have seen a perfect storm brewing for the real estate

investors where there has been an incredible demand persisting in an environment where the real estate prices have continued to rise against all the odds, and as expected, albeit at a more moderate rate. This means the Minneapolis housing market looks as clear as ever!

Minneapolis is the place to be. The real estate market in Minneapolis is a booming market and will continue to be a favorable market in the foreseeable future. This is the right time to buy and invest in real estate because the mortgage and the interest rates are at historic lows, and what a better place to buy than in Minnesota?

this link; https://thepowerisnow.com/long-doan/.

If you would like to learn more about the Minneapolis market, connect with Long Doan, one of our VIP Agents. This a special invite-only program run by the Power Is Now Media for real estate professionals. To learn more about this program, follow this link; https://thepowerisnow. com/vip-program-2/.

Long Doan Real Estate Agent Realty Group Sources: https://www.noradarealestate. com/blog/minneapolis-real-estatemarket/#:~:text=Homes%20in%20 Minneapolis%20receive%202,up%207.8%25%20 since%20last%20year. https://www.fortunebuilders.com/minneapolis-

Long Doan came to America alone as a “Vietnamese boat people” at the age of 14. He survived his stay at “Hell Island,” which was the most heavily populated place on earth at that time where he was an orphan living with more than 40,000 other refugees in a crowded area about the size of a football field. Real Estate Agent Magazine did a story on his journey “Long Doan: Journey From Oppression To Optimism.” To read more about Mr. Doan, follow WWW.THEPINMAGAZINE.COM

real-estate-market-trends/ https://www.noradarealestate.com/blog/ minneapolis-real-estate-market/ https://homesmsp.com/2020/05/2020-realestate-showings-surpass-same-time-last-year. html https://www.zillow.com/minneapolis-mn/homevalues/ l

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MENIFEE AREA HOUSING PRICES AND HOME VALUE TRENDS AND PREDICTIONS

Monica Hill Menifee is located just 15 miles north of Temecula- California’s most popular wine production region. It is one of California’s hottest new suburban, springing out of the LA region. The city enjoys a beautiful Mediterranean climate all year. It provides the locals with convenient access to the Lake Elsinore, Diamond Valley Lake, and some significant wilderness areas and reserves in the Southern Los Angeles region.

ike many other regions in the beautiful State of California, Menifee was founded as an agricultural region and was fused on the agricultural industry. However, today, Menifee is growing differently with various residential expansion projects attracting a large number of people. In the last five years, there has been a large number of people migrating from Los Angeles and the Bay Area into the Inland Empire to live in the Menifee city.

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As a tourist, homebuyer, or investor, there are so many reasons to pull you towards this ecstatic city, including but not limited to a vibrant mix of historical and cultural sightings and a host of other modernday tourist sites. However, today we’ll focus on the Menifee real estate market MENIFEE HOUSING MARKET Menifee is a mid-sized city. According to the 2018 Census Bureau Report, Menifee had a population of 92, 595 people and 18 constituent neighborhoods. Menifee is ranked as the 98th largest community in the state of California, and over the years, the city has seen unprecedented growth in the number of newer housing units. What triggers new developments, especially housing developments, is the result of new residents migrating into the area. In the last five years, middle class or even wealthier people have been migrating into the city from the Bay Area, attracted by the rapid job growth, a healthier economy, and superb local amenities. Between the years 2016 and 2018, the median household income for Menifee City grew from $57,598 to $65,757. Regardless, the housing costs in the city of Menifee are among the

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highest in the country. And even though the real estate prices in the town are nowhere near the real estate prices in some of the most expensive counties in the state, the costs are still high, pricing out a significant portion of the population. MARKET TRENDS IN MENIFEE The market as of Q1 2020, the median home value in Menifee city, was $375,299. Over the past year, home prices in Menifee have gone up 1.9%, and according to Zillow, these prices are expected to fall -2.5% in the next year. Compared to the Riverside-San Bernardino-Ontario Metro, the median list price per square footage in Menifee is relatively lower, averaging at $215. The median prices of the homes that are currently listed in Menifee are $394,998, while the median price of the homes that are sold is $365,800. Additionally, the median rent prices for houses and apartments in Menifee is $1,895, lower than the Riverside-San BernardinoOntario Metro median of $2,150. HOUSEHOLD INCOME Between the years 2016 and 2018, the median household income for households in the city of Menifee grew from $57,598 to $60,808. There are approximately 28.5K households in the city of Menifee. The following is a representation of that dramatic rise in household incomes compared to the national averages. The largest share of the household has an income in the $75k-$100k bracket. RENTING VS. PROPERTY OWNERSHIP IN MENIFEE In 2017, the homeownership rate for the city with about 30,533 housing units, which is the 2nd most of all the places in the area, was 74.3%, which is a 0.7% percentage jump from the 2016 recordings. The percentage of owner-occupied housing units in the city is higher than the national average of 63.9%. the chart below shows the ownership percentages in the city compared with the neighboring counties.

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HOUSING DENSITY IN MENIFEE The houses per square land mile usually measure the housing density of an area and Menifee has a 657.0 housing density, which is the 2nd most of all the places surrounding the city. However, the city coming in first is Canyon Lake, which has a density of about 1,147.7. Comparing this figure to Menifee’s, Canyon Lake’s city density is much larger by a margin of 74.7%. Comparing Menifee’s density to the country’s average of 38.6 Menifee is bigger. Additionally, measuring the density against California’s housing density, which is about 90.5, Menifee is markedly bigger.

HOME FINANCING IN MENIFEE The following chart shows an analysis detailing the distribution of the owned home by mortgage status. Menifee City has With Mortgage taking center stage of other places in the area at 74% of total and is ranked in the middle of the group.

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WHAT ELSE SHOULD YOU KNOW ABOUT MENIFEE? Unlike most other cities, Menifee is a city that isn’t mainly white- or blue-collar. Rather, the most prevalent occupations for the people in the city are a mix of both. Overall, Menifee is a city of sales and office workers, professionals, and service providers. Additionally, there are many people in Menifee working in the office and administrative support (11.70%), sales jobs (10.78%) and management occupations (8.34%). Also, the percentage of adults in the city of Menifee who are college-educated is close to the national average for all the communities of 21.84%. Moreover, 19.14% of the adults in Menifee have a bachelor’s degree or an advance degree. Lastly, the city of Menifee is an inter-racial city with people in the city, describing themselves as belonging to a city that has diverse racial and ethnic groups. The largest share of the population in the city comprises of White or non-Hispanic Whites. This is followed closely by African Americans. Additionally, the city has a significant share of people from Hispanic origins, accounting for 35.90% of the population in the city.

Commercial Investment Real Estate Brokers, with her company completing over $1 Billion in Residential and Commercial sales. Some of her top achievements were being named as “A Top Producer” for marketing and disposing of more than 400 Non-performing Assets. As well as being awarded as a #1 BPO Brokerage by a National Asset Management company for completing more than 3000 of their BPO’s with 98.99 percent accuracy. To learn more about Monica Hill and her contact details, click here.

Menifee is a beautiful city. With its unique historical landmarks, Menifee is the perfect place for you and your family to start a life. If you would like to get more insight about Menifee, talk to one of our VIP Agents in Menifee-Monica Hill. The VIP Agents is a program run by The Power Is Now Media for agents and real estate professionals. To get more details about the show, click here. Monica Hill is the Broker/Owner of MVP Real Estate & Investments LLC. A Small, WomanOwned, Minority-Owned Business, and serves as the CEO of the Non-profit Women’s Support Organization Mission Excel. Monica has been licensed in California for more than 25 years. She runs a highly successful team of Certified, Licensed Commercial and Residential FullService Real Estate Professionals known as “The Dream Team.” Monica has been one of Southern California’s Top Residential and WWW.THEPINMAGAZINE.COM

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MONSTER LOANS

ORDERED TO REPAY $18 MILLION TO CHEATED CUSTOMERS

“So easy…it’s scary” is a phrase that is commonly heard in California. The phrase is a tagline from a California mortgage company, Monster Loans. Recently, the company was allegedly involved in a complex scheme that illegally offered debt relief services to millions of Americans whose personal information was unlawfully obtained from Experian, according to Consumer Financial Protection Bureau (CFPB).

n May 14, the Bureau filed a proposed final judgment to resolve its allegations in its lawsuit against Chou Team Realty, LLC, which operates as Monster Loans, and other individuals and related companies such as Thomas Chou and Sean Cowell. CFPB alleged that Chou and Cowell, between 2015 and 2017, were at the frontline of a scheme to use Monster Loans account with a ma jor credit bureau to unlawfully obtain consumer reports for their companies that offer student loan debt relief. The debt relief companies used the consumer reports to deceptively market their services across the nation while illegally charging a fee. The debt relief companies are accused of having collected at least $15 million in the illegal fees before consumers received any adjustment to their student loans and any payments towards their adjusted loans. According to the Bureau’s allegations, Monster Loans had pursued a series of other plans to further their scam. In 2017 the mortgage company allegedly helped to establish a fake company known as Lend Tech Loans, which presented itself as a mortgage brokerage. However, the company never engaged in any mortgaging activity. Instead, it “has only ever been used to unlawfully obtain consumer report information” that was used in furthering the student debt relief scheme. “As alleged in the complaint, because of Monster Loans’ assistance, Lend Tech Loans was able to wrongfully obtain consumer reports for over 12 million

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additional consumers between 2017 and 2019,” the Bureau stated. The Bureau alleges that Monster Loans, its former president Thomas Chou, its co-founder Sean Cowell, Lend Tech Loans, and a bunch of debt relief companies conspired to milk millions of dollars from Americans. “Chou and Cowell were officers of Monster Loans, investors in the student-loan debt relief companies, and allegedly helped create the sham entity Lend Tech Loans,” the Bureau said. “The Bureau alleged that they participated in the (Fair Credit Reporting Act) violations and then received purported profits from the studentloan debt-relief companies. As alleged in the complaint the profits represented funds that were wrongfully taken from consumers through unlawful conduct.” The Bureau in mid-May stated that it had arrived at a settlement with Chou Team Realty that the firm had illegally obtained people’s information and given it to the debt relief companies. As part of the settlement, Monster Loans and its associated companies were ordered to repay $18 million to the affected customers. The settlement also imposed a redress judgment against Monster Loans and ordered Chou and Cowell to pay a civil penalty of $450,001. Beyond that, the settlement banned Monster Loans, Chou, and Cowell from

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the debt relief industry. However, the companies’ current financial situation indicates that they do not have that amount of money; therefore, they cannot repay the affected customers. In response to this, the Bureau required Monster Loans to submit its financial documents to prove that it does not have the money. If that is the case, the company will have to pay $200,000 in redress to the affected customers. If the case is not valid, the company will be required to pay $18 million in full. Most of the affected customers are unlikely ever to get their money back. Let this scenario be a lesson to the public. It is recommendable to be extra cautious when interacting with any ads sent to you via email or text or those you find while surfing the internet. Some of the ads are nothing but scams to milk Americans their hard-earned money. If you want to interact with any ads, it would be wise to consult experts or the regulators before you get into it. Works cited. https://www.housingwire.com/articles/monsterloans-ordered-to-repay-18-million-to-cheatedcustomers-but-many-wont-get-their-moneyback/

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WATERS URGES CONGRESS TO PASS THE HEROES ACT

n the second week of May, a motion was introduced to the House of Representatives by the House Democratic Leadership seeking to pass the Health and Economic Recovery Omnibus Emergency Solution Act (H.R. 6800), also known as the HEROES Act. The House Democratic Leadership developed the Act in its effort to initiate negotiations on the next relief effort to combat the persisting Covid-19 pandemic. The Act is a primary statement of priorities for House Democrats in the upcoming negotiations with the Senate and the Whitehouse on the next move towards the issuance of another Covid-19 relief legislation. Chairwoman of the House Committee on Financial Services, Congresswoman Maxine Waters, is one of the members who strongly supported and pushed for the passing of the HEROES Act. The Congresswoman on May 15 during the house proceedings states, “I rise in strong support of H.R. 6800, the Heroes Act. This legislation includes a number of important proposals from the Members of the 124

Financial Services Committee, and builds upon my proposal for more direct payments to families by providing a second round of stimulus payments of up to $6,000 per household.” According to Maxine’s statement, the Act has included most of the affected economic sectors such as homeownership, credit reporting, debt collection, Community development financial institutions, as well as supporting the production of diagnostic tests and PPEs. The Act contains policies that are primarily focused on providing direct relief for state and local governments, taxpayers, and frontline workers in the U.S. However, unlike the previous two relief packages, the HEROES Act does not provide any funds for the Pay check Protection Program (PPP). In her statement during the House proceedings, Congresswoman Maxine Waters urges all members to support the Act’s legislation. “Mr. Speaker, we are obligated to protect our nation. The Heroes Act represents the response America needs to

meet this crisis. So, I urge all Members to support this critical legislation.” Waters states. “We hear Members on both sides of the aisle talking about how much they love America, how much they love their constituents. Put up or shut up. Now is the time to do it.” Fortunately, on May 16, the U.S. House of Representatives passed the HEROES Act by a vote of 208-199. SUMMARY OF THE HEROES ACT The Act provides $3 trillion in federal relief that will be allocated to various sectors. From the $3 trillion package, nearly $1 trillion is allocated to state, local, territorial, and

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tribunal governments who need the funds to pay vital workforces such as first responders, health workers, and tutors who face the risk of losing their jobs. The remaining nearly $2 trillion is shared amongst other sectors including payment of essential personnel who have risked their lives to in the fight against Covid-19, testing, tracing and treatment of Covid-19, a second round of direct payments to households, preservation of health coverage for those who have lost jobs, and extension of unemployment benefits. The Act also provides for food security and safeguarding of American democracy. Elsewhere, the House of WWW.THEPINMAGAZINE.COM

Representatives passed a resolution (H.Res. 965) authorizing proxy voting and remote Committee operations. The resolution will enable the House members to continue conducting House business while away from Washington during this period, faced with Covid-19pandemic.

Works cited https://financialservices.house.gov/news/ documentsingle.aspx?DocumentID=406566#:~:text =Waters%20Urges%20Congress%20to%20Pass%20 Heroes%20Act%3A%20Itâ€™s%20Time%20to,Put%20up%20 or%20Shut%20up%E2%80%9D&text=6800%2C%20 the%20Heroes%20Act https://www.natlawreview.com/article/congress-passesheroes-act-remote-voting-resolution https://appropriations.house.gov/sites/democrats. appropriations.house.gov/files/documents/Heroes%20 Act%20One%20Pager.pdf

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CFPB ORDERS SPECIALIZED LOANS SERVICING TO PAY $1.5 MILLION FOR FORECLOSURE ISSUES The Consumer Financial Protection Bureau (CFPB) is a 21st-century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering consumers to take more control over their economic lives. According to CFPB’s servicing rules valid from 2014, servicers are prohibited from starting the foreclosure process after submission of the loss mitigation application by a distressed borrower. INVESTIGATIONS INTO THE SPECIALIZED LOANS SERVICING According to CFPB, the Specialized Loans Servicing (SLS), a mortgage-loan servicer from Colorado, did not always stick to these rules. After thorough investigation, the Bureau discovered that since January 2014, SLS had violated the Real Estate Settlement Procedures Act (RESPA) and Regulation X by taking prohibited foreclosure actions against mortgage borrowers who were entitled

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to protection from foreclosure. The investigations also found out that SLS had several failed to send timely evaluation notices to entitled borrowers.

“Since January 10, 2014, Respondent made First Filings, moved for foreclosure judgment or order of sale, and conducted foreclosure sales in certain instances where the borrower was entitled to protection

from these actions,” the Bureau stated in its consent order. “In some cases, SLS’s violations of Regulation X shortcircuited the protections against foreclosure for consumers whose homes were ultimately foreclosed upon.” On May 11, CFPB settled the allegations with SLS through a consent order. Following the consent order, SLS is

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required to pay a whopping $1.5 million in monetary relief to the Bureau. From the $1.5 million, $1.275 is for the affected consumers in the form of redress and waiver of borrower deficiencies, while $250,000 is the Bureau’s civil money penalty, which should be deposited into the Bureau’s Civil Penalty Fund. The $1.275 million will be allocated to consumers as follows; $500,000 will be waived in borrower deficiencies while the remaining $775,000 will be given back to affected consumers according to a redress plan approved by CFPB. Beyond the monetary penalties, the consent order also directed SLS to adhere to the established rules. A statement from CFPB website read, “The settlement also requires SLS to implement policies and procedures that will ensure that borrowers receive the WWW.THEPINMAGAZINE.COM

protections from foreclosure to which they are entitled under RESPA and Regulation X, including preventing SLS from improperly making first filings, from improperly moving for foreclosure judgments or orders of sale, and from conducting foreclosure sales against borrowers who have submitted timely and facially complete or complete lossmitigation applications.” SLS’S RESPONSE In a statement, SLS said that the issues were limited and added that the company settled the charges to end the situation. “SLS is pleased to have resolved this issue, which dates back to our initial interpretation and implementation of the Consumer Financial Protection Bureau’s 2014 Servicing Rules and which affected a limited number of borrowers,” said a spokesperson of the SLS parent company,

Computershare Loan Services. “We welcome this resolution so that we can put this matter behind us and move forward with our mission to help our borrowers and clients during this difficult time.” SLS agreed to take measures to ensure future compliance with RESPA and pledged to avoid any future improprieties in first filings, foreclosure judgments and orders of sale. Works cited. https://www.housingwire. com/articles/cfpb-ordersspecialized-loan-servicing-topay-1-5-million-for-foreclosureissues/ https://www.consumerfinance. gov/about-us/newsroom/ cfpb-settles-specialized-loanservicing/ https://www. nationalmortgagenews. com/news/specializedloan-servicing-settles-cfpballegations

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8.8% OF THE US

result of dramatic economic impacts, such as more homeowners losing their jobs and falling behind on mortgage payments.”

MORTGAGES

ARE IN FORECLOSURE A curator of the nation’s premier property database, ATTOM Data Solutions, which is also the first property data provider of Data-as-a-Service (DaaS), released its February Foreclosure Market Report on April 1. the United States hit new lows in February, yet another marker of the nation’s long housing boom,” states the chief product officer of ATTOM Data Solutions, Todd Teta. “However, as with just about anything connected to the housing market right now, the foreclosure situation is now totally in flux because of the ever-evolving coronavirus pandemic. Many lenders have suspended foreclosure proceedings, so the numbers will most likely continue to drop in the coming months. But after that, we may see an uptick in foreclosures as a

The report shows that foreclosure completion numbers continue to decline on annual bases. Lenders repossessed 10,469 US properties through completed foreclosures (Real Estate Owned) in February 2020. This number represents a 1% increase from January but an 8% drop from last year, recording the second consecutive annual decrease in completed foreclosures. Some states recorded an annual drop in Real Estate Owned properties (REOs) in February, according to the ATTOM Data Solutions reports. The states include Florida with a 47% drop, New York with an 18% drop, New Jersey with a 37% drop, Maryland with 13% drop, and Texas with a 16% drop.

FORECLOSURE RATE

According to the report, one in every 2,841 housing units had a foreclosure filing in February nationwide. The states with the highest foreclosure rates were:

ccording to the report, there were a total of 48,004 US properties with foreclosure filings, default notices, scheduled auctions, or bank repossessions. This figure also is the lowest number of total foreclosure filings recorded since the data provider began tracking in April 2005. “Foreclosure activity across

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• • • • •

New Jersey with one in every 1,457 housing units with a foreclosure filing. Illinois, with one in every 1,507 housing units. Delaware has one in every 1,628 housing units. South Carolina had one in every 1,688 housing units. Maryland, with one in every 1,713 housing units.

Areas with the highest foreclosure rates in February among the 220 metropolitan statistical areas with at least 200,000 in population include; • • • • •

Bakers field, CA – one in every 948 housing units Atlantic City, NJ—one in every 1,032. Columbia, SC—one in every 1,042. Rockford, IL—one in every 1,049. Fayetteville, NC—one in every 1.089 housing units.

The metropolitan areas with a population of more than 1 million, with the most severe February foreclosure rates, include; • • • • •

Riverside, CA—one in every 1,109 housing units. Chicago, IL—one in every 1,314. Philadelphia, PA—one in every 1,393. Cleveland, OH—one in every 1,469. Baltimore, MD—one in every 1,605 housing units.

Moving on, the report further indicated that lenders started the foreclosure process on another 27,058 US properties in February 2020. The figure is a 3% increase from January but a 9% drop from 2019. WWW.THEPINMAGAZINE.COM

What causes Foreclosure? You need to know some of the causes of Foreclosure so that you can be prepared. Some of the most common causes of Foreclosure include; negative equity, rising interest rates, and the five Ds. Negative equity is a case where a home’s value declines, causing the homeowner to owe more to the lender than the home’s current worth. When negative equity occurs, the homeowner has only two options, to refinance if possible, or sell the home. An interest rate rising case is when a home buyer purchases a home through mortgage at low-interest rates, only for the rates to shoot incredibly high later, making it difficult for the homeowner to keep up with mortgage payments. This case is mostly attributed to subprime mortgages, whose primary recipients are those with lower credit scores, which worsens the situation. Lastly, the five D’s refer to several personal situations that eventually lead to Foreclosure. They include; death, divorce, drugs, disease, and denial. Cases of death or divorce of/with the primary breadwinner, who used to make the mortgage payments, make it challenging to keep up with the payments; therefore, the only option is Foreclosure. In the same case, if the breadwinner turns to substance dependence to a point, they cannot make the monthly mortgage payments, the home faces Foreclosure.

makes a homeowner bankrupt may lead to Foreclosure. Lastly, on denial, various factors may put a person in a financial distress situation, the person may not come into terms with the fact that their current situation is not compatible with staying in line with mortgage payments. When the lender realizes the situation, the best option is to start the foreclosure process. Some of the causes stated above are avoidable, such as drugs and denial, in some instances. Making proper research and consultation before applying for a mortgage could also keep you away from falling into negative equity and a rise in interest rates pits. Works cited https://www.attomdata. com/news/market-trends/ foreclosures/attom-datasolutions-february-2020-u-sforeclosure-market-report/ https://www. citywidehomeloans.com/ common-causes-foreclosure/

Also, the emergence of unexpected medical bills that

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Undocumented Seniors are at a High Risk of Contracting Covid-19. Here’s Why ”I leave it in God’s hands,” says a 63-year old Mexican immigrant, Micaela Roldan, when asked about the measures she is taking to prevent herself from Covid-19. Roldan has chronically swollen feet, and besides that, she suffers from depression and insomnia originating from the death of her son in a car accident in 2018. Despite her condition, she has no health insurance and avoids seeking medical care even from a low-cost health clinic citing she cannot afford that from the pennies she makes from selling popsicles on the streets of Oxnard, California. oldan has worries of contracting Covid-19 due to her daily interactions with the public and lack of consistent preventive care, which puts her at a very high risk of severe complications if she contracts the virus.

Apparently, amid the Covid-19 pandemic, public health experts, together with immigrant advocates, are calling on California governor, Gavin Newsom, and state legislators to fulfill a budget proposal that would see MediCal accommodating undocumented seniors. They argue that the uninsured state of the thousands of senior residents puts them and the broader public at risk. Early this year in January, the governor has proposed allocating $80 million toward a similar move in next year’s budget, but so many uncertainties surround the plan given the state’s projection of being short of $54 billion due to the Covid-19 crisis.

Roldan is just one of the estimated 1.5 million undocumented residents in California who have no health insurance. From the figure, about 27,000 are seniors aging from 65 years and above. Unless a special case such as pregnancy or an emergency, undocumented people aging above 25 years of age do

”It’s the smart thing to do,” state Senator Los Angeles Maria Elena Durazo said. ”If there are people in our state who are our neighbors, who go to church with us, their kids go to the same schools; you go to the beach together. To think that somehow we are not going to be affected if there are 1.5 million undocumented

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not qualify for Medi-Cal, California’s health insurance program for Californians with low incomes. The same group of people is also not allowed to purchase coverage through the state’s health insurance exchange, Covered California.

(residents) who do not have access to healthcare is ridiculous.” Sen. Elena recently authored a stalled 2018 bill to expand Medi-Cal coverage to undocumented seniors. However, some are opposing the proposal to expand Medi-Cal to undocumented seniors. The opponents have expressed concerns that the plan would be a burden to taxpayers citing that the state should focus its resources on its legal citizens. The chairman of the Ventura County Republican Party, Mike Osborn, questioned the legality of the proposal and termed it as ”a political move.”

THE POWER IS NOW MAGAZINE | JULY 2020

HESITATION TO ACCESS HEALTHCARE Coronavirus testing and treatment had been declared free of charge as of April 8. However, according to Vanessa Teran, policy, and communications associate with the Mixteco/ Indigena Community Organizing Project (MICOP) based in Oxnard, many undocumented immigrants do not realize that. Vanessa adds that most of these immigrants are accustomed to delaying or avoiding medical care citing lack of medical insurance, and the fear of acquiring medical bills which they cannot afford.

Others are misguided to believe that they could get penalties under the ”public charge” rule imposed by the Trump administration for receiving governmentfunded Covid-19 care. However, US Citizenship and Immigration Services has explained that the rule does not apply to Covid-19 testing and treatment. Despite the free Covid-19 testing and treatment for the undocumented people, their trouble does not end there. ”Although testing and treatment for COVID-19 is covered, other ailments may not be, putting uninsured people at risk of paying for care if it turns out they do not have the virus,” states Steven Wallace, associate director of the UCLA Center for Health Policy Research. ”Undocumented immigrant communities tend to live by the mantra ’when in doubt, go without,’ when it comes to medical care.”

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However, in some regions such as in Ventura County, undocumented and low-income persons are offered with substantially discounted primary and specialty health services. ”The county implemented further discounts in April,” states Dee Pupa, the deputy director of managed care for Ventura County Health Care Agency. ”The cost of an office visit now starts at $10, including any in-clinic tests for the lowest-income individuals, and $25 for urgent or specialty care, she said. A network of eight pharmacies supplies free or low-cost prescription drugs to the uninsured.” The government should revisit the issue and make it better for undocumented persons. To immigrants like Roldan, health insurance is like a far-off dream. She has no hope left for the situation to get better any day. This situation is heartbreaking as many immigrants left their motherlands to come to live the American dream. The government should consider this growing population of undocumented persons, who are also taxpayers. Works cited, https://www.calhealthreport.org/2020/05/12/ at-high-risk-from-coronavirus-undocumentedseniors-fear-seeking-medical-care/

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hrough its Covid-19 Local News Relief Fund Grant Program on May 7, Facebook announced that it is awarding nearly $10.3 million to about 144 local newsrooms. Several Black-owned newspapers in California were lucky to receive the grants. The grants are geared towards helping the newsrooms survive the economic downturn caused by the Covid-19 pandemic. According to the Facebook Journalism Project, more than half of the beneficiaries from the grants are publications ran by and targeted to communities of color from which most of them are independent or family-owned.

”We are honored to have been chosen to receive the Facebook Journalism Project COVID-19 program Grant,” says Danny J. Bakewell, Sr., executive editor and CEO of the Los Angeles Sentinel. ”We have been and remain committed to helping our Community survive in these unprecedented challenging times when all businesses and families are struggling, especially those within the African-American Community… This grant will help us to continue our mission of informing our Community of the resources available to help navigate through this pandemic so that we can all come through this together — safe, healthy with our dignity intact.”

The grant beneficiaries were chosen from a collection of more than 2,000 applicants by the Facebook Journalism Project and its partners that include the Local Media Association and the Lenfest Institute for Journalism. “We’re proud to support this diverse group of publishers — many of which are family or independently owned,” said Campbell Brown, VP of global news partnerships at Facebook. “Not only are these journalists working tirelessly to serve people right now — they are focused on transformation, building innovative local news businesses that can continue to serve communities beyond the current pandemic.”

However, the grants were not offered to every Blackowned newspaper in California, especially from the Northern side. The Oakland Post from Northern California did not benefit from the grants but expressed their delight since so many Black-owned media nationwide benefitted. “I am pleased to see that Facebook invested in African-American and other ethnic media,” publisher of the Oakland Post, Paul Cobb said. “I am, however, concerned that it was concentrated in Southern California and left a huge void with the rest of the Black community state-wide. I hope this opens the door for more conversations to fund those who still need support.”

CALIFORNIA BLACK NEWSPAPERS WINS HUNDREDS OF THOUSANDS IN FACEBOOK GRANTS

Most of the Blackowned California newsrooms that received grants of over $300,000 are located in Southern California, such as the greater Los Angeles area. They include the L.A Sentinel, the L.A. Focus Newspaper, the L.A. Wave and Independent Newspaper Group, and Black Voice News from Riverside. WHAT BENEFICIARIES HAD TO SAY Publisher of the L.A. Focus Newspaper, Lisa Collins, comments that the money is timely. “I am thrilled [the Focus] was selected to receive this grant. This will help us continue to serve our Community with timely and valuable news and information on COVID-19 and better inform our Community,” she says. Elsewhere, founder of Voice Media Ventures and publisher of Black Voice News Paulette Brown-Hinds seems to have big plans for the money. “This Facebook grant will allow our team to build on our current reporting on the economic impact of COVID 19 on our community, as well as expand our expertise in data journalism and data visualization and mapping,” Paulette says. ”As a community-focused media entity, we look forward to continuing to be a resource, not simply contributing to community thought and understanding, but to community engagement and action.” 132

It is impeccable to have someone intervene during such unprecedented times. Facebook has shown its support for the newsrooms, which directly or indirectly affects the whole Community at large. Other organizations should therefore embrace and follow the example shown by the social media giant in playing their corporate social responsibility not necessarily to the newsrooms but to the other affected sectors as well.

Works cited. https://postnewsgroup.com/2020/05/13/california-blacknewspapers-win-hundreds-of-thousands-in-facebookgrants/ THE POWER IS NOW MAGAZINE | JULY 2020

INDEPENDENCE DAY AND WHAT IT MEANS TO BE INDEPENDENT The United States of America on this year’s Fourth of July will be commemorating its 244 years of independence from the British ruling centuries ago. Independence Day is one of the most universally recognized American holidays which is marked on July 4 every year. The day commemorates the signing of the Declaration of Independence on the same date in 1776.

efore that date, all the 13 American colonies which are today referred as states were part of the vast British Empire. The 13 colonies include; Connecticut, Delaware, Georgia, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, and Virginia. The colonies were governed by various charters under the rule of the then King of England, George III. 134

The distance between the American colonies and the Great Britain was a six-week journey sailing across the Atlantic Ocean on wooden sailing ships. Due to this large distance and existence of a long period of partial governance, the colonists began to resist the British rule in the 1760s. Tensions and hostility began to grow and sometimes violent confrontations which resulted to deadly events such as the Boston Massacre of 1770 and the Battles of Lexington, Concord and Bunker Hill in 1775. Later, the Second Continental Congress secretly voted for the colonies to declare their independence from Great Britain on July 2, 1776. Two days later July 4, the official wording for the Declaration of Independence was finalized and the document published. A month later, delegates from all the 13 colonies began signing it. Knowing well that the action would be treated as an act of treason by the Great Britain, the signatories declared the following at the end of the document, “We mutually pledge to each other our Lives, our Fortunes, and our sacred Honor.” The Declaration of Independence stated that the Colonies considered themselves a sovereign collection of states with each state fully independent and free from any allegiance to Great Britain. The

struggle was not yet over as it took the American Revolutionary War which was ended by the signing of the Treaty of Paris in 1783. The treaty ended the war on official terms and recognized American independence. From the history of Independence Day, it is important that you note the following; •

•

A lot of people fought and paid dearly for the freedom and independence we enjoy today. The current occupants of the U.S.A were not the original residents of the continent. Therefore, no one amongst us all is the original occupant of America; we all moved to America apart from those who are called the Native Americans.

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social injustices on the minorities in America 244 years later. The narrative of discrimination against the black Americans remains to be heard and experienced with every passing day. With the latest incident of the brutal killing of an offense less African-American man, George Floyd, it is evident that we are not yet independent. It is so saddening to be talking about equal treatment of all Americans regardless of their ethnicity in the 21st century.

What Does Real Independence Look Like? What does it mean to be Independent? Having understood the events behind the commemoration of Independence Day, it is important to ask yourself what it really means to be independent. Some animals such as the domesticated ones or the ones in the zoo can never celebrate independence because they are never independent. When Americans are celebrating Independence, are they independent for sure. Being independent means so much more than just making your own decisions and not being answerable to any other external powers. Being independent also means how much efforts we put towards ensuring global peace and oneness in humanity. Being independent means giving everyone the chance to live with an identity in a nation until the last moment. We may go about beating chests that we are all the same but this will remain to be words until we put it in actions. And that is when we will have independence. America is not yet independent if we are still addressing the issues of inequality, discrimination, and WWW.THEPINMAGAZINE.COM

Real independence is giving every American equal right and treating everyone in America equally, regardless of their ethnicity. Real independence is giving equal opportunities to every American in terms of educational access and job opportunities. Independence is when an African-American is arrested with respect and charged fairly in a court of law. Real independence is when the AfricanAmericans can have their morning run freely and return to their houses safely. Real independence is when a black man in America can walk freely in the city streets and return to his family safely. Real independence is giving everyone a chance to live the American dream. Anything else that is needed to live the American dream is already provided by nature, without discrimination, without partiality and without preference. Until then, American has not yet attained real independence. Works cited. https://www.hfcc.edu/news/2019/whatindependence-day-means l

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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.