The PIN Magazine May 2017

M a y 2017 Vol. 04 | Issu e 5

CORPORATE PROFITS 4TH QUARTER 2016 CHARACTER TRAITS OF A RENTER VERSUS A HOME OWNER

CINCO DE MAYO CELEBRATION

We proudly welcome ZipRealty™ and its innovative technology platform to our family of real estate brands!

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ANY OF OUR the PIN magazine THE POWER IS NOW INC. Vol. 04 | Issue 5

Eric Lawrence Frazier, MBA President and CEO Office: (800) 401-8994 Ext. 703 Direct: (714) 361-2105 Eric.Frazier@ThePowerIsNow.com www.thepowerisnow.com www.blogtalkradio.com/thepowerisnow

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EDITORIAL TEAM Eric Lawrence Frazier MBA Editor in Chief (800) 401-8994 Ext. 703 Goldy Ponce Arratia Managing Editor Graphic Artist and Design Manager (800) 401-8994 ext. 711 goldy.ponce@thepowerisnow.com Kim Collier Executive Director of Publishing (800) 401-8994 ext. 712 kim.collier@thepowerisnow.com

CONTRIBUTIORS The Power Is Now Research Team

The PIN Magazine | May 2017

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CEO & Publisher Eric Lawrence Frazier, MBA 3739 6th Street, Riverside, CA 921506 Ph: (800) 401-8994 ext. 703 EDITORIAL Editor in Chief: Eric Lawrence Frazier MBA Managing Editor: Goldy Ponce ONLINE Web Designer: Himanshu Haiswal

SALES National Sales Manager: Christina Kimble National Relationship Manager: Success Money HEADQUATERS The Power Is Now Inc. 3739 6th Street Riverside, CA 92506 Ph: (800) 401-8994 Fax: (800) 401-8994 Email: info@thepowerisnow.com www.thepowerisnow.com www.thepowerisnow.com/magazine

DESIGN Art Director & Design Manager: Goldy Ponce, PUBLICATION AND SERVICES Andrej Jovanovic The PIN Magazine The Power Is Now Radio ADMINISTRATIVE The Power Is Now Publications Administrative Assistant: Kendra Gedeon The Power Is Now Radio Guide The Power Is Now VIP Agent Program The Power Is Now Power Consulting/Coaching The Power Is Now Association Management The Power Is Now Event Management STATEMENT OF COPYRIGHT: The PIN Magazine™ is owned and published electronically by The Power Is Now, Inc. Copyright 2013-2017 The Power Is Now Inc. All rights reserved.

“The PIN Magazine” and distinctive logo are trademarks owned by The Power Is Now, Inc. “ThePINMagazine.com”, is a trademark of The Power Is Now, Inc. “Magazine.thepowerisnow.com”, is a trademark of The Power Is Now, Inc. “Thepowerisnow.com”, is a trademark of The Power Is Now, Inc. “The Power Is Now Event Management”, is a trademark of The Power Is Now, Inc. “The Power Is Now Radio”, is a trademark of The Power Is Now, Inc. “The Power Is Now Publications”, is a trademark of The Power Is Now, Inc. “The Power Is Now Radio Guide”, is a trademark of The Power Is Now, Inc. “The Power Is Now VIP Agent Program”, is a trademark of The Power Is Now, Inc. “The Power IS Now Power Consulting/Coaching”, is a trademark of The Power Is Now, Inc. “The Power Is Now Association Management”, is a trademark of The Power Is Now, Inc. No part of this electronic magazine or website may be reproduced without the written consent of The Power Is Now, Inc. Requests for permission should be directed to: info@thepowerisnow.com

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In This

Issue...

FINANCIAL 10. IRS tax exemptions and short sales 12. Corporate profits 4rth quarter 2016

ECONOMY

ON THE COVER

16. Current housing and economic

challenges 20. Are homes out of touch for the

milennials?

24. The top 5 cities to buy a house in the

spring of 2017

REAL ESTATE 28. Current housing trends in San

32.

Diego, California 7 Key things to consider when renting a house in Fairfield, California

LEGAL 40. Introduction to HOA Foreclosures in

44.

California Learn about divorce and mortgage

MORTGAGE 46. What is a reverse mortgage for senior

16.

citizens?

FHCRC 2015-2016, highlights and reflections

The PIN Magazine | May 2017

6

GREEN 52. Why going green is important for

54.

commercial real estate in 2017 Is Green the way to go in our economy?

COMMUNITY 58. What the lean housing inventory means

60.

62.

64.

66.

for home buyers What the latest California consumer sentiment survey means for the housing market Character traits of a homeowner versus a renter Making a great market during Memorial Day Mothers day: Tips to make great sales

TECHNOLOGY 68. Can technology replace the human

58.

touch?

Thechnology Real Estate Agents Need to be Successful

YOU 74. 5 important steps to improving your

78.

80.

credit for homeownership Why everyone needs a household budget?

How to be a power real estate agent

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Editor’s Letter...

D

ear Esteemed Readers,

As we leave April showers behind and begin to enjoy May’s flowers, we are gearing up for a prosperous summer of bloom. As Mother’s Day approaches, we cannot help but remember our own moms, for doing the little things that made a big difference in our lives. I want to take a moment to remember my amazing mother who passed this time last year and to pay homage to the wonderful woman she was.

We also cannot forget about our veterans this Memorial Day: the brave men and women who put their lives on the line for all of us. It is because of them that we are able to live in this country and enjoy freedom each and every day.

On the cover this month, we are celebrating Cinco de Mayo. This celebration marks the date when Mexico overthrew French rule at the Battle of Puebla during the Franco-Mexican War in 1867. In this issue, you can read all about the modern beginnings of the celebrations of Cinco de Mayo, beginning in California in 1860 when resistance to French rules increased. We will also cover subjects such as owning a home verses renting, the newest technology every agent needs to have, why each and every household needs a budget, and much more.

I am also very excited to announce an upcoming event that I will be participating in. As we are all aware, affordable housing is a huge issue in America today. My goal and passion is to lessen the gap in

The PIN Magazine | May 2017

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homeownership in the minority community. The 1st Annual Community Development Music Series and Cultural Marketplace Fundraiser is a step towards doing just that. Nabahood Community Development and Covenant Realty Family sponsor this event. You can read more about it in this month’s issue.

Also, we have a Realtor Seminars scheduled for the month of May. On May 19th we are hosting the Los Angeles Realtor Seminar. Click the link to register for these free seminars. Register today!

Our seminar is filled with PROVEN LOW-COST MARKETING SYSTEMS designed for new and experienced agents. Come out and let’s make 2017 your best year ever! This is a FREE event you do not want to miss.

Lastly, thank you for your continued support and readership. Our team is dedicated to you. We want the best from you, so we are dedicated to bringing the best of us. Please take a moment and share this magazine.

Knowledge is power, and The Power Is Now.

Eric Lawrence Frazier CEO The Power Is Now Inc.

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FINANCES

IRS TAX EXEMPTIONS AND SHORT SALES

S

hort sales are generally referred to situations when the lender agrees on settling the foreclosure debt amount by accepting an amount lesser than the total debt in order to release the lien on the property. Short sales include selling away the property to lenders for lesser amounts than what their debt is worth. Taxation by the IRS (Internal Revenue Service) occurs when a homeowner settles the debt for less than the total mortgage amount, thereby creating a deficiency which is considered as taxable income. This clause is mentioned on Form 1040/1040 NR on line 21.

The PIN Magazine | May 2017

IRS Tax Exemptions On Short Sales The Mortgage Forgiveness Act established in 2007 provides an exception to debt settlements in which taxes are exempted and the debt is forgiven on the mortgage provided the mortgage is based on a primary residence. The clause on ‘Qualified Principal Exclusion Indebtedness’ states that mortgage amounts taken for the improvement or enhancement of the property are not taxable by the IRS. Home equity loans falling under the umbrella of home improvement are subject to tax exemption.

Home equity loans applied to other streams of debt

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can be taxed; however, those can be avoided if the homeowner files for bankruptcy charges.

Additionally, the Mortgage Forgiveness Act is not applied by lenders if the mortgage in question is based on a second home or rental homes.

Bankruptcy charges Filing for bankruptcy charges can lead to tax exemptions and are negotiable, provided the amount is lesser than that of the quantity meant for insolvency. In order to prove insolvency, homeowners must fill out Form 2982, check the second box under Part I. Supporting documentation must be provided which compares your assets and your liabilities. If your liabilities (such as student loans, credit card debt, other pending debts) exceed your assets, then you may be eligible for insolvency and be given tax exemption.

$4,050 which is the same as it was in 2016.

The kiddie tax which applies to teens under 19, is exemptible for amounts up to $1,050 for unearned incomes. Any unearned income beyond $2,100 is taxed at parent rates. Tax exemptions are subject to phase-out which begin with a gross adjusted income of $261,500 for individuals and $313,800 for married couples.

If you have resided in your home which is up for short sale and you owned it for 2 years, you will be liable for a tax exemption for amounts up to $250,000 USD on capital gains or up to $500,000 USD if filed jointly.

Conclusions

Tax exemptions on short sales can be a tricky area if you don’t know what to look for.

Determining whether to go for tax exemptions on foreclosures or short sales can be a dilemma Mortgage restructuring for many. The best way to get help on this by hiring a tax attorney or a lawyer specializing in Alternatively, if you want to avoid a short property tax since they can lay out your options sale, you can do mortgage restructuring or for you when the time for filing approaches. renegotiate the terms with the IRS. Mortgage restructuring may include reducing the principal debt amount, giving more time to clear the debts, or reduced interest rates. Only the principal reduction, in this case, will be taxable by the IRS. If your debts are removed through a short sale, you will be given an IRS Form 1099-C during the end of the year.

This form will indicate how much of the debt is forgiven and the current market valuation of the property. If the details on the form are incorrect, misstatements are made, and the figures are mismatched, you can ask your lender to correct them by resubmitting the form. If your lender refuses to comply, you can make the corrections on your own and send it over to the IRS for approval along with existing documentation supporting those figures.

The personal tax exemption amount stated by the IRS, effective immediately from 2017, is

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FINANCES

CORPORATE PROFITS

IN Q4 2016 orporate profits determine an economy’s status in terms of growth and future potential.

Dependent on the GDP (Gross Domestic Product) growth, a nation’s corporate profits can say a lot about the conditions of the investment industry, worker’s wages, and overall national economic condition.

C

internal funds contributed to corporations for investment purposes increased by 1%, or $20.6 billion, to $2,192.1 billion. Corporate profits in the United States set an record low of $2.06 billion USD in the fourth quarter of 2016. Reports by the Commerce Department show that in their third GDP estimate, the annual amount increased by 1.4%.

Corporate Profits

Statistics showed that the third quarter of the U.S. economy grew by 2% and the fourth quarter by 2.4%. Net dividends in businesses rose by 1% from $9.5 billion to $982 billion, and undistributed profits accounted for an increased growth of 4.4%, rising $26.5 billion USD to $629.4 billion USD. Gasoline prices levelled at $2 per gallon and inventories accumulated by businesses were worth $78.3 billion, compared to the $81.7 billion reported in February 2016.

Profits in the U.S. corporate sector highlighted a $36 billion increase to $1,611.4 billion in the fourth quarter – a 2.3% increase rate. Current production profits with inventory adjustment valuation and capital consumption fluctuation increased by $11.2 billion USD in the fourth quarter of 2016. Domestic financial corporation profits increased by $26.5 billion USD in the fourth quarter of 2016. The increase was $117.8 billion in the third quarter of 2015, which shows a considerable reduction in 2016.

Non-financial corporate profits fell by an estimate of $4.95 billion USD, with $19.8 billion being the annual rate. Overall corporate profits jumped 22.3% in the fourth quarter.

The net cash flow after inventory valuation and

The PIN Magazine | May 2017

Reuter economists stated that unrevised GDP growth rates during the fourth quarter would stay at 1%. The Wall Street Journal surveyed economists, who stated an expectation of an upward revision of 2.0%, similar to what The Commerce Department said about the fourth quarter GDP’s growth rate being 1.9%.

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GDP Growth

The prices for gross domestic purchases increased by 1.5% in the third quarter and 2% in the fourth quarter, showing remarkable improvement. PCE price indexes followed suit, with an increase of 1.5% in the third quarter and 2% in the fourth quarter.

When excluding the food and energy economic price surges, the PCE increased by 1.3% in the fourth quarter when compared to its 1.7% increase during the third quarter. Import rate revisions spiralled upwards and real GDP went up by a 1.6% in 2016, which is a deceleration in growth when compared to the 2.6% increase in 2015.

According to the “third estimate” released by the National Bureau of Economic Analysis, 2016’s third quarter marked an increase up to 3.5%. The data released is more accurate compared to the source which was released in the “second estimate.” GDI (Gross Domestic Income) rates increased by 1% in the fourth quarter compared to a 5% increase in its third quarter, marking positive changes in the economy. The GDP increase reflected positive changes in PCE, fixed investments in residential and non-residential areas, and state and local government expenditures which were partially offset by federal Conclusion spending and exports. Import rates which were With a 60% plunge in crude oil prices since June subtracted from the GDP rates increased.

2014, the profits of oilfield service firms were hurt.

Present 2016 GDP dollar went up by 3%, with $532.5 However, consumer spending, which makes up billion growth compared to the 3.7% increase of two-thirds of U.S. economic activity, rose by 2.4%, $643.5 billion in 2015. The Real GDI index went which showed a remarkable growth rate. The labour up by 1.6% in 2016 when compared to the 2.5% market is tightening and supporting the spending/ increase in 2015. Price indexes for gross domestic consumer markets, with an improved increase in purchasing rocketed to 1% when compared to the worker’s wages along a rise in housing prices. The U.S. inventory deposits were stated to be higher than 0.4% increase in 2015. domestic demands.

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• Increase your Brand on the Web & Social Media • Promote your Listings and Brand via Online Radio and Online TV • Promote your Listings and Brand in our national Online Magazines • Receive Lead Management support from inquiry to closing • Receive Social media management support on five online platforms • Co-brand our Online First Time Homebuyer Live Monthly Seminars • Received professionally produced Videos educating consumers and selling real estate • Received professional ghostwriting for your Blog and Magazines articles • Receive Business Coaching, Planning and Accountability support • Receive Business and Technology support for Websites, Landing Pages

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www.thepowerisnow.com eric.frazier@thepowerisnow.com Mobile: 714-361-2105 Office: 800-401-8994 ext. 703 Fax: 800-401-8994

ECONOMY

Current housing and economic challenges

A

mong the G7 countries, the United States economy has the slowest growth despite the uncertainties facing other economies such as the Brexit and the upcoming French elections.

In a recent interview with Bloomberg Markets, BlackRock CEO, Larry Fink, has expressed his fears that the economy will stagnate if the uncertainty on Trump’s ability to quickly pass key reforms persists.

Neel Kashkari, the president of Minneapolis Federal Reserve Bank, believes that without immigration, the US economic growth will continue to slow down especially if the Housing Republicans fail to convince Congress to pass laws on tax and infrastructure.

though the president has recently expressed the will to lower his stance on immigration, immigrants are still fearful of what the future holds for them.

According to Jacob Vigdor, an economist at the University of Washington, immigrants replace baby boomers retiring from the labor force and are therefore crucial in fuelling the US housing demand. In total, the 40 million US immigrants contribute $3.7 trillion to the total housing wealth.

Cementing the gloomy outlook in the real estate sector is the rising interest rates on fixed mortgages which have been up nearly three-quarters of a percentage point since last summer. With the anticipation of three more Fed rate hikes this year, analysts are Trump’s immigration policy is expected predicting that the mortgage rates will to hurt the residential real estate sector gradually move higher. as immigrants shy away from taking The rising interest rates mean that homes will mortgages due to fear of deportation. Even become less affordable probably pushing

The PIN Magazine | May 2017

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housing demand to the rock bottom. According to Corelogic Economic Outlook April 2017, higher interest rates will not only lessen homebuyer affordability but will also lead to a substantial drop in refinance originations and homeowner mobility.

leadership. However, if the POTUS lessens his stand on immigration and implements policies on tax cuts and infrastructure spending, residential and commercial real estate is likely to benefit as firsttime foreign buyers’ flock the market.

Homeowner mobility measures the number of years Bottom line between a home purchase and its subsequent resale.

When mortgage rates go up by 1.5 percentage points According to the U.S. commercial real estate from where they were during the original purchase, Outlook 2017 report, the commercial and residential few homeowners are willing to resell their homes. real estate market is likely to remain strong despite the uncertainties on Trump policies and the rising mortgage rates. Even though rising, the mortgage rates remain close to all the time low of 3.31% in 2012.

Even with the rising fear on Trump immigration policy, the demand for housing remains relatively high. For instance, the mortgage origination figures reported in the last quarter of 2016 were the largest since the $642 billion of the last quarter of 2006.

The residential housing market is also doing well with March stats by the US Department of Commerce showing a 3.6% growth from the revised February On the other hand, when mortgage rates fall by 1.5 rate and a 2.7% above the March 2016 rate. While percentage points, the homeowner is likely to resell this trend may change depending on the direction sooner. This means that in 2017 and beyond, the Trump’s leadership will take, there is currently no for-sale homes will remain lean thus pushing home reason to be worried. prices up.

Source: CoreLogic.

This spring season is the best time to buy

With the anticipated increase in mortgage rates in the coming days, this spring offers an opportunity for home buyers to lock in a lower rate. The amount of homes for sale in the market will continue to decline with the rising rates, and therefore it is important for those looking to buy a home to start their search early.

Even with the latest slowdown, the US economy Source: CoreLogic, 2017. remains strong and will continue to be the desired destination for investors all over the world. Contact Even though income and job growth are on the The Power is Now today to learn more about how rise, there is no guarantee that the number of home you can leverage the available opportunities to buyers will increase given the uncertainty on Trump acquire your desired home. www.thepowerisnow.com

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THE POWER IS NOW VIP AGENT

STEVE PETERSON, CCIM Office: 510-879-7542 Mobile: 408-509-0700 Email: peterson.infinity@gmail.com Website: http://www.infinityinvestments.net/

ECONOMY

?

ARE HOMES

OUT OF TOUCH

FOR THE

MILLENNIALS

The PIN Magazine | May 2017

I

f there is a generation that has been left behind in home ownership, it is Millennial.

According to a December 2016 report by real estate tracker Trulia, almost 40% of American youths were living with their parents, relatives, or siblings in 2015. This is the largest percentage reported since 1940.

Partly to blame for the low home uptake among Generation Y is their lifestyle, which attaches little value to the traditional metrics used by Baby Boomers to measure success. American youths of today are likely to place less value in owning static assets such as a house or a car than in having the latest mobile gadgets.

With globalization at its peak, young people prefer to study and work abroad, often moving from one country to another, and therefore do not see the need of owning a home.

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However, studies show that the main reasons why the When student debt, high unemployment, low income, majority of millennials do not own a home revolve and the increased cost of living are factored in, around the economics of home buying. many millennials find themselves with little to save for home ownership. The situation is made worse The assumption that Millennials prefer renting to by the stricter credit standards. with the majority of buying is refuted by an analysis by NerdWallet, which millennials not meeting the median credit score of shows that the majority prefer owning a house, but 750 for loans backed by Fannie Mae. given the perceived or real difficulties in the process, they appear to be postponing the decision.

Perceived difficulties.

As a matter of fact, the analysis found out that the members of Generation Y born between 1981 and 1997 look at owning a home just as favorably as previous generations.

Real economic difficulties.

Unlike Baby Boomers, many Millennials are laden with student debt, making it impossible to start saving for a down payment. A good number are also grappling with credit card debt and payday loans accumulated through irresponsible financial behavior. The high debt situation is made worse by the fact that when compared with the previous generations, millennials are facing higher levels of unemployment and lower wages. Getting a wellpaying job today requires high-level skills, and the majority of Millennials cannot afford to go back to school to acquire these skills.

The fear of the home-buying process is also another reason that the majority of Millennials are not buying homes. Many generation Y members cannot stand the complexity and the red tape involved in the process.

According to Jim Jumpe, senior vice president and chief marketing officer at Arch Mortgage Insurance Co, millennials value informality and authenticity, and therefore find the mortgage process unattractive.

The way forward.

Before everything, a great deal of education on personal finances and the home buying process is required to counter Millennial’s fears. While the majority of Millennials consider themselves financially savvy, studies reveal otherwise.

In regards to affordability, first-time homebuyer programs such as Freddie Mac’s Home Possible and Fannie Mae’s Home Ready should be considered.

Down payment assistance programs provided by the state are another option for the Y generation.

According to a 2016 analysis conducted on Federal Reserve reports by the advocacy group Young Invincible, despite having a better education, For first-time homebuyers who cannot raise enough Millennials earn 20% less than boomers did at the money for down payments, private mortgage same stage of life. insurance is an option. The loan guarantee program offered by the Federal Housing Administration As Laura Gardiner, a Senior Research and Policy (FHA) is also a good approach, even though not as Analyst at Resolution Foundation, notes, the new desirable as private mortgage insurance. trend is a conscious choice by governments and companies. In countries like Britain, companies are If you are a Millennial looking to buy a house, contact curbing the younger workers’ pay to finance pension us for more information on the home ownership schemes. With 401(k) plans replacing pension opportunities available today. schemes, the Y generation is finding itself paying for the Boomers and also having to set apart a portion of their little income as savings for retirement.

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$399,900 - $415,900

This property will not last!

515 w. 58th street Los Angeles 90037 • • • • • • • •

3 bedrooms 2 Full baths Fenced yard, plenty of parking Very quiet street 2 minutes from 110 freeway 4.5 miles from Staple center 2.7 miles from USC 5.6 miles from The Forum

CHRISTINA KIMBLE Realtor

Cal BRE # 01395886 O: 800-401-8994 x 705 P: 714-709-1394 christina.kimble@thepowerisnow.com www.thepowerisnow.com

ECONOMY

THE TOP 5 BEST CITIES TO BUY A HOUSE IN THE SPRING OF 2017

W

ith the US economy slowing and mortgage rates rising, buyers all over the country are finding it hard to identify high-value growth and yet affordable homes for sale.

The majority of the markets that were selling like hotcakes in 2016 are cooling off quickly, with Zillow projecting below-average growth in 2017 for three of the five largest U.S cities.

If you are looking to buy a home this year, Zillow recommends considering midsize metropolitan areas far from the coasts, since these are the areas with the highest likelihood of experiencing the greatest price appreciation. Of course, this is not to say that there are no coastal cities which are low-priced and have a high potential for appreciation.

The choice of a home depends on a lot of factors – among them personal preference – and therefore our list extends beyond the areas recommended by Zillow.

Here is a list of the top five hottest housing markets you should consider this spring.

The PIN Magazine | May 2017

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1. Nashville, Tennessee.

This city tops the list of Zillow’s hottest housing markets in 2017. With a forecasted home value appreciation of 4.3%, an income growth rate of 1.1% and an unemployment rate of 4.0%, Nashville offers an opportunity to buyers looking for a home that is affordable and has high growth rate potential.

for homes in this city is $114,500, while the median rent per month is $1,050.

House prices in this city are on an upward trend, with the latest report by the Iowa Association of Realtors showing a 5.8% increase on median sale prices in March 2017. Des Moines is among the most affordable real estate markets this spring and the best place to buy for first-time buyers.

From the reviews on niche.com, the best neighborhoods to buy a house around Nashville 3. Pittsburgh, Pennsylvania. include Brentwood, White House, La Vergne, Smyrna, Hendersonville, Murfreesboro, and According to a recent report by Trulia, the number of houses being listed for sale in Pittsburgh has Franklin. been steadily rising. This means that unlike other These areas are considered the best to raise a family cities across the US, new home construction has not by the reviewers, given the availability of social declined. amenities such as good schools, hospitals, and Home values have appreciated by 9.4% in the last 12 entertainment venues. months, with the current median home value being $121,100. According to Zillow, home values in this city are likely to appreciate by 3.8% within the next 2. Des Moines, Iowa. year.

According to the Bloomberg Housing Affordability Index, the estimated monthly mortgage is $613, If you are a first-time buyer looking for an affordable meaning that you need an annual income of just home with a significantly high growth rate, Pittsburgh $22,000 to make payments. The median sales price should be on your list.

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Also pushing prices up is a high demand resulting from rising employment rates, growing wages, and increasing rental costs.

Seattle is home to some of the best universities and corporations, making it the best destination for millennials.

4. San Francisco, CA. With a median sales price of $1.2m and a median rent per month of $4,425, San Francisco is among the most expensive housing markets in the US. However, the city’s robust tech sector and strong economy make the price worth it for those who can afford it.

5. Seattle, Washington.

When compared to other tech cities such as Silicon Valley, Seattle has the lowest cost of living. However, according to the Council of Economic and Community Relations, Seattle is 24% more expensive than the typical US city.

This city has a 12-month forecasted growth rate of 5.6%, income growth of 1.0%, and an unemployment rate of 4.4%.

According to Troy Martin, a senior data analyst at Redfin, a lack of inventory is the reason behind the steadily rising home prices. April If you are looking to buy a house 2017 research by Zillow shows and do not know where to get Over the past year, home prices that the median home listing price started, contact us and we will in this city have appreciated by in this city is $638,100. walk with you through the journey.

1.5%, and Zillow estimates that they will rise by 0.1% in the next 12 months.

While the stats are not incredibly attractive, other factors such as good weather, high-level social amenities, and a rapidly growing economy makes it the best destination for buyers looking for a lifetime home. If you are looking to buy a home in this city, we recommend that you do it now to avoid paying high mortgage rates in the future.

The PIN Magazine | May 2017

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Willie Wilcox Cal BRE # 01396837 NMLS # 887943 SPECIALIZING IN: • Real Estate Sales • Lending & Financing

Helping Families Make the Right Move Relationship Manager

Realtor | Northern California E-mail: willie.wilcox@thepowerisnow.com Website: www.thepowerisnow.com Office: 800-401-8994 x 728 Direct: 510-915-5107

REAL ESTATE

CURRENT HOUSING TRENDS IN

SAN DIEGO CALIFORNIA

by Lorraine Santirosa

M

arket trends help homeowners and prospective buyers understand the current market prices in the housing industry and make better buying decisions and relocation plans.

Current housing trends in San Diego, California help buyers know more about crime rates, how neighborhoods work in the housing communities, commuting options, and overall demographics.

Housing Trends in San Diego California, 2017 Median home valuation is currently at $558,600 in San Diego.

Housing prices have risen by 5.6% over the last year and are expected to further increase by 1%, as forecasted by the Zillow Home Value Index. Per-square-foot homes in San Diego come at median list rates of $426 USD, which is higher than the average of the San Diego Metro area, valued at $341 per home square foot. The overall median rental rates in San Diego average $2,500, which is that same as that of the San Diego Metro median of $2,500.

Statistics presented by San Diego Market Health on March 31, 2017 showed that homes with negative equity raised their average by 0.1%, and there is an ongoing delinquent mortgage rate of 0.0% which is considered very good for the housing economy. Home The PIN Magazine | May 2017

28

foreclosures in the San Diego area in terms of mortgage payments are underwater at 0.1%, which is considered higher than the San Diego Metro.

and student performance. According to the demographics charted by Trulia, 36% of the housing population is single residents, 50% are homeowners, 49% are college-educated, and the median age of residents is 36 years old. The The Zillow Home Value Index in 2017 for the median household income according to Trulia’s Adams North neighborhood in San Diego is estimates was $62,674. Most people use a car $612,200, $581,900 for Tierrasanta, $535,900 as their primary means of transportation, with for Allied Gardens, $531,100 for Serra Mesa, 94% commuting via cars. There are no instances $528,100 for Clairemont Mesa East, $489,600 of commuting by bike and 3% of the public for Bird Land, $482,700 for Kearny Mesa, commute via public transportation services. $391,100 for Mission Valley East and $260,900 for Grantville. Additionally, 5.9% of homes were sold for below their sale price, which indicates Conclusion remarkably good deals for new homebuyers in these neighbourhoods.

The current housing trends in San Diego, California show that San Diego can be a great Current market trends in the San Diego area place to live in. With mortgage delinquency indicate a 9% increase in median home sales over rates below the national average, a plethora of the past year, indicating an increase of $42,500. schools, and an interactive community, San The average price-per-square-foot rose from Diego, California offers a blissful Mediterranean $376 to $399 during the same time period. climate which is decent for year-round living.

As for crime rates, there were 14,543 instances Breath-taking parks and views, world-class of theft, 8,896 arrest counts, and a count of 7,981 breweries, and nice neighborhoods are also for burglaries. These crime rates were the worst important factors to take into consideration when since last year, and knowing them is a good looking at the current housing trends in San indicator of the condition of the housing trends Diego, California. in San Diego California.

There are 278 schools in San Diego. Elementary schools, middle schools, and high schools seem to be doing well in terms of demographics

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ALFONZO L. EDWARDS Realtor | Cal BRE # 01937296 Relationship Manager Office: 800-401-8994 ext. 732 Direct: 925-435-2557 alfonzo.edwards@thepowerisnow.com http://thepowerisnowrealestateservices.com/

REAL ESTATE

7 KEY THINGS TO CONSIDER

WHEN RENTING A HOUSE IN FAIRFIELD, CALIFORNIA

F

air field is one of the popular cities in 1. Crime Rate California located within the coastal areas of the state. According to the city of Fairfield’s Most of the crimes committed in Fairfield, history, the earliest native inhabitants to settle in California are violent and property crimes, which the city were Indians. include offences like murder, manslaughter, rape, assaults, burglary, and motor vehicle theft According to the 2010 United States census, among other offences. When you are looking for the city had a total population of 105,325. It a house, you should check the safest places to is reported that 97% of that population lives relocate. The best way to get well-informed is in households, and the rest lives in institutions to conduct research first before relocating. It is or group houses like orphanage homes. This indicated that Fairfield, California has a higherpopulation is considered to have increased than-average percentage of violent and property since it hosts the Travis Air Force Base and crime compared to other cities in the state. also because of the Highway 80 traffic corridor which commuters use between San Francisco 2. Education and Sacramento.

Most of the residents of Fairfield, California If you are looking for a house in the Fairfield complain that the city does not have the best city area – especially for newcomers from other schools compared to other cities. So the best states or immigrants from other countries – you thing is to compare the performance of the should be keen on the following key items. school and also how secure the school is for your kids if you have any. The safety of your child in school is very important because most of the violent offences are committed in schools by teenage delinquents.

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3. Employment opportunities Job opportunities in the area are very important, so you should conduct a study to check the availability of employment in Fairfield. It is considered that the increase in crime rate in area is due to lack of sources of income. You should do thorough search of the companies, industries, restaurants, and hotels available in the area, which can offer you a job depending on your qualifications.

4. Security and safety measures These are a very important thing to consider when looking at relocating to an area. Mostly, you should check the security measures taken in the house you want to rent. You should ensure that the house has all safety measures for both you and kids, especially when it comes to locks, electric appliances, and floors in the house.

5. Maintenance policy Most of the time as a tenant you pay the maintenance fee. But before you enter the house you should consult the landlord about who to pay it to, including the emergency repairs which may be needed in the house after you enter to avoid conflict during the lease period.

6. Social amenities You should consider the availability of infrastructure in the area you choose to rent. This includes availability of grocery stores and means of transportation. The place to rent may be influenced by the amount of rent you are willing to pay per month, so make sure the most essential things needed on daily basis are available within the locality.

7. Terms and conditions in the contract letter Reading the contract is important; in most cases, you need to sign the agreement before you enter the house so make sure the agreement made when you were offered the house for rent is included in the contract. You should check all the details, including the furniture in the house.

According to real estate statistics and trends in Fairfield, California, the demand and prices for houses, both family homes and town houses/condos, has increased tremendously over the past few years. This can be due to improved social infrastructure and security measures which people consider most when investing and settling in an area.

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Cinco de Mayo

C

inco de Mayo marks the date when Mexico overthrew French rule at the Battle of Puebla during the FrancoMexican War in 1867. Ironically, this holiday is confined to formal celebrations in Puebla, Mexico, but in the United States, it is a source of pride and appreciation of heritage for many Mexican Americans. Mexico and the Assembled States relish this occasion, since it is the day on which Mexican workers and everyday citizens vanquished the French and Mexican trickster armed force that outsized them twofold in Puebla, Mexico, one hundred miles away from Mexico City on the 5th of May, 1862.

History The French had arrived in Mexico alongside Spanish and English troops five months prior to gather unpaid obligations. In 1855, Benito Juarez (priest of equity) issued changes called

by Ley Juarez when he took control of the legislative hall in 1861 and made a national obligation. On July 17, 1861, he issued an announcement that every outside obligation would briefly be halted. The English, Spanish,

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and French were despondent with this motion, and went to Mexico to make them pay. The English and Spanish consulted with the Mexicans, then left. Be that as it may, the French stayed in light of the fact that they needed to make a domain in Mexico under Napoleon the Third. It is additionally said that Napoleon needed to check the forces of the Assembled States before it got too intense.

The bona fide reputation of Cinco de Mayo rose in the 1980s in view of the displaying endeavors and business interests. The event changed over time into a celebration of the Mexican culture. The event is especially popular in Southern states that share a border with Mexico.

The Modern Beginnings of the Cinco de Mayo Celebrations The modern beginnings of the celebrations of Cinco de Mayo begin in 1860 in California, when resistance to French rule increased.

Mexican miners in the gold mining town of Columbia celebrated by launching fireworks and singing patriotic tunes. It has been fiercely

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celebrated in California since the 1860s but did not take a true hold across America until after the 1940s, when beer companies capitalized on the opportunity and began to heavily promote it.

an air guitar competition. While Cinco de Mayo will always be popular in America, its celebrations have spread to various parts of the world including Jamaica, Australia, New Zealand, the UK, Nigeria, and South Africa. The celebrations have even Areas of a large Mexican-American presence such traveled across the Pacific to Osaka and Tokyo in as San Jose, El Paso, and Los Angeles adopted Japan, where Latin American culture is celebrated. the celebration and increased its popularity. A 1998 study in the Journal of American Culture Conclusion reported that there were more than 120 official US celebrations of Cinco de Mayo in 21 different states. Regardless of the way that Cinco de Mayo traditions An updated 2006 version found that the number of are celebrated, the splendid nature of Mexican official Cinco de Mayo events was 150 or more, culture makes this event a standout amongst the according to José Alamillo, a professor of ethnic most cherished celebrations in American culture. studies at Washington State University in Pullman, What was once a celebration of Mexican rejection who has studied the cultural impact of Cinco de of colonial rule, has now morphed into what we call Mayo in the United States. Fiesta Broadway in Los Cinco de Mayo, an international celebration of the Angeles is often ranked as the largest Cinco de Mayo rich history of Mexican culture. celebration in the world, attracting approximately 500,000 partygoers every year.

There has been a push in recent times for federal recognition of the holiday and for American schools to acknowledge and embrace the holiday, but America has yet to see presidential recognition of the holiday. In modern times, regional dancing, mariachi, and traditional Mexican food accompany the beautiful Cinco de Mayo celebrations. Plaza del Pueblo de Los Ángeles hosts traditional Mexican dancing and demonstrations every Cinco de Mayo.

Cinco de Mayo has also made its way into mainstream capitalism, with many companies using the celebration’s popularity to promote Mexican products and sell alcohol, food, clothing, and music.

It is an event of fun and recreation. The event is celebrated in like manner in Canada. For example, in Windsor, there is a celebration called “Cinco de Mayo Street Festivity.” The bars play Mexican music and offer Mexican sustenance. In the Cayman Islands, the celebration of Cinco de Mayo includes

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LEGAL

Introduction to

HOA Foreclosures

in California

I

f you own a home, a condominium, or a property, you may face foreclosure charges if you don’t pay your monthly dues referred to as “assessments” by the HOA in your surrounding neighbourhood.

What is an HOA? An HOA is referred to the Home Owner’s Association, which is comprised of a board of members who are responsible for tracking yearly and monthly assessments. Assessments are basically certain amounts of money which are allocated for the maintenance of pools, lawns, structures, paying security employees working on properties, cleaning staff, and so on. HOA foreclosures work like mortgage debts. When property owners act as delinquents in the payment of monthly assessments, their property/homes are subject to foreclosure.

When a property goes into foreclosure, it is seized by the HOA until the debts are cleared. Properties can end up being resold in the market once a certain period of time has elapsed on the foreclosure.

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CC&Rs The CC&Rs, referred to as the Declaration Of Covenants, Conditions, and Restrictions, are a set of rules laid out in every neighborhood with respect to foreclosures and assessments according to California Laws. They protect, preserve, and enrich property values in different neighborhoods. Violation of the CC&Rs result in lawsuits by HOA, foreclosure, forced compliance, and fines.

HOA Foreclosures California HOA Foreclosures start at a minimum assessment due of $1,800 in California.

When the amount goes beyond $1,800, an HOA can place a lien on the property for foreclosure. This amount does not include collection charges, interest, attorney fees, and late payment charges. Most HOA foreclosures are nonjudicial and take place without court supervision.

HOA Liens Once buyers fall back on their mortgage payments and face foreclosure, the HOA can place a lien on the property and record it. The HOA has to wait up to 30 days before placing a lien on the property once they send a notice regarding due payments.

Additionally, another factor taken into consideration when placing a lien is whether the homeowner has defaulted on their payments for a minimum of 12 months. These two conditions for placing a lien are in accordance with California Laws.

The charges included in an HOA lien are the following: • • • •

Unpaid assessments Attorney’s fees and costs for collection of the due assessments Payment default fees or late payment fees Interest based on the above charges mentioned

Right To Redemption in an HOA Foreclosure The Right To Redemption involves regaining ownership of the foreclosed property sold to another buyer or entity. There’s a specific time period to regain properties foreclosed by the HOA for judicial and non-judicial foreclosures.

• Judicial foreclosures - For debts paid off from foreclosure sale proceeds, there’s a 90-day time period for redemption. If the property foreclosed is not able to pay off the debts from sales proceeds, The Right To Redemption can

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extend up to one whole year.

• Non-judicial foreclosures - The Right To Redemption is only applicable if the foreclosure results from failure of assessment payments. If the homeowner defaults on the deed of trust multiple times, then the right to redemption is not provided.

Costs for property redemption For properties foreclosed by the HOA in California, the costs for redemption include: • • • • • •

Previous dues or pending assessment fees Interest Attorney fees Late charges Charges for any repair work to be done Any additional charges involved for the maintenance, repair, and upkeep of the property for preservation purposes

There are a few ways to redeem your foreclosed property. Usually, foreclosed homeowners get a notice from the authorities concerned who are in charge of the foreclosure process for the right to redemption. You should receive such a notice.

Alternatively, you can approach a legal counsellor whose expertise lies in foreclosed properties or a property attorney for additional information and inquiries. Property attorneys are great since they let you know all your options once the property is foreclosed.

Conclusion: A common misconception is that foreclosures can be avoided by current mortgage payments. If you fail to pay your mortgage amounts on time and even if you manage to scrape up enough money to pay them later, as long as you default for extended periods of time, your property can be subject to foreclosure by the HOA. HOA liens in California are of higher priority in accordance with California Laws when compared to other forms of liens.

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LEGAL

LEARN ABOUT DIVORCE AND MORTGAGE

D

ivorce rates are on the rise, and though a Dealing with a House Mortgage at the divorce is never too easy for either partner, time of Divorce it is necessary to keep a level head and think carefully when it comes to deciding on financial Some options to deal with a house mortgage at the matters. One of the most important assets shared by time of divorce are given below: a married couple is the house, which is considered to be a community asset in California. This means that • Selling the property: This is the best option if both partners have the right to the property unless it the house can be sold at a good price, but may was inherited or gifted to one of them, in which case not be viable if the house was bought at a high that partner gets the exclusive right to the property. price and the market value has declined. • The rights of the house taken over by one However, in most cases, the property is mortgaged partner: This option is feasible if one of the on the basis of the income of both spouses. In such partners takes up the liability through a refinance cases, the following factors should be taken into and reimburses the other partner to pay the consideration to reach a decision about how to deal mortgage. The other partner may relinquish his with the property: the current financial situation hold on the property by signing a Quit Claim of each partner, the market value of the house, the Deed. However, it is possible that the court may amount of the mortgage that is yet to be paid, and order the partner who is selling or relinquishing the ability of the partners to pay off the mortgage. the right to the property to pay the mortgage as A wise decision will be beneficial for both partners. part of spousal support. • Short sale of the property: If not, a short sale of the property can be considered where the bank takes hold the property at a lower price and

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writes off the balance amount. This, however, affects the credit rating, impacts the possibility of getting a loan in the future and has a tax liability.

• Leasing or renting the property: Another option is to lease or rent the property until the market rates increase enough to sell the property.

• Deferred sale: The court can order a deferred sale, where both the spouses continue to hold title to the property for a determined period of time and the parent having the custody of the children would get exclusive rights to own and use the property till then. The court order takes into account the spouses’ ability to pay based on their incomes, support and other resources of savings or income available to them.

between the period of separation and divorce.

The court can order a spouse to pay half the rental amount towards Watts Charges for exclusive ownership and use of the property between the period of separation and divorce.

Refer to the article Dividing the Debts in a California Divorce by Melissa Tapply for more information on Epstein Credits and Watts Charges.

Conclusion

What is important is to make a practical decision agreeable to both before the divorce is finalized – a Reimbursements for use or relinquishing the decision made on the basis of emotions or sentiments rights to the property during the period can lead to trouble later. There can be cases where between separation and divorce the property already belonged to one spouse prior to marriage, and the other spouse invested considerably The court can order reimbursement for the following in home improvement or in renovating the property, reasons: or where the property was bought under the name of just one spouse even though both partners invested • If community funds were used to pay for in the property. In such cases, the other spouse needs expenses of a separate property. to have valid proof that both of them have a right to • • In the case of Epstein Credits, where the the property either through an internal agreement or funds from the separate property were used for in any other way that can prove their interest in the paying the mortgage on the community home property.

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LEGAL

WHAT IS A REVERSE MORTGAGE FOR SENIOR CITIZENS?

A

reverse mortgage for senior citizens is a credit for older adults ages 62 and older. HECM reverse mortgages are protected by the Federal Housing Organization (FHA) and permit property holders to turn their home value into money with no month-to-month contract installments.

In any case, borrowers are required to keep paying property expenses and protection and to maintain the home as per FHA rules.

Reverse contract advances Reverse mortgage advances are usually used to pay for home redesign, restorative, and everyday costs. Property holders who have a current home loan frequently utilize the graduated home buyback credit to pay off their existing home loan and dispense with month-to-month contract installments.

to you might be narrow for the initial 12 months after credit closing. What’s more, you may need to set aside extra finances to pay for charges and protection.

The credit does not, for the most part, need to be reimbursed until six months after the last surviving mortgage holder moves out of the property or passes away. At that time, the domain commonly sells the home to repay the difference of the graduated home buyback, and the beneficiaries get any residual value. The beneficiary is not at risk for any additional home loan obligation if the home does not sells for as much as the resulting balance of the graduated house buyback advance.

Reverse mortgage qualification

To be qualified for a house buyback advance, the FHA needs all mortgagors on the designation to be 62 years of age or older. Borrowers should likewise meet monetary qualification criteria as built up A home buyback credit employs a home’s by HUD. On the off chance that there is a value as security. The amount of cash the current home loan on the home, it might borrower can get is dictated by the age of be paid off with the returns from the the borrower, financing costs and the lesser graduated house buyback advance. of the home’s assessed worth, deal cost and the greatest loaning limit. Because of HECM prerequisites, the assets accessible

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Qualified Home Types

whichever is less; and no assets other than the home must be liquidated to reimburse the obligation.

Most single-family homes, two-to-four-unit proprietor involved abodes or townhouses, endorsed Conveyance of Assets apartment suites, and mobile homes are qualified for a graduated home buyback advance. The home must Turnaround home loan advance can be received in any combination of the accompanying alternatives: meet FHA least property benchmarks.

• Credit extension: receive as required up to the most extreme qualified sum At the point when the graduated house buyback • Single amount: a single sum of money at closing credit becomes due, the borrower’s beneficiaries/ • Residency: regularly scheduled installments for the life of the advance bequest can reimburse the home buyback advance and keep the home or put the home up for purchased • Term: periodic payments for a particular number of years to pay back the advance. On the off chance that the home goes for more than the difference of the home buyback increase, the remaining home value goes to Borrowers may get up to 60 percent of a possible sum or every single compulsory commitment, as the beneficiaries. characterized by the HECM necessities, in addition If the home goes for not exactly the owed amount, to an extra 10 percent in the initial 12 months the beneficiary is not required to pay more than after credit closing. The consolidated aggregate of the appraisal of the home at the time the credit is required commitments in addition to 10 percent cannot surpass as far as possible sum set up at reimbursed. advance closing.

A home mortgage is “non-response”, meaning that in the off chance that you sell the home to pay off the loan, you or your beneficiaries will never owe more than the advance or the appraisal of the property,

Legacy

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LEGAL

FHCRC 2015-2016

HIGHLIGHTS AND REFLECTIONS

F

HCRC (Fair housing council of riverside county, Inc.) Iis a non-profit organization approved by the Department of Housing and Urban Development (HUD) to fights for the rights of residents living in almost all cities of Riverside County. The organization works with the government to ensure that fair housing laws are followed. FHCRC proudly provides various services to the residents which affirmatively addresses the issues of housing discrimination by analyzing and implementing ways to eliminate them regardless of race, color, national origin, disability, sources of income, age, and religion, among others. These services help to stimulate the housing market and to create suitable communities which are free from discrimination.

Services: Apart from anti-discrimination services, FHCRC offers other services like foreclosure prevention services, first-time homebuyer workshops, assistance to individuals seeking loan modification, Back-to-Work FHA Counseling, dispute settlement between landlords and tenants arising from the individual’s tenancy, mortage assistance to those who are temporarily unemployed, and training to individuals about the consequences of unlawful housing discrimination.

Since the beginning, the organization has had significant accomplishments, like helping individuals avoid foreclosure and settling lawful disputes as Since 1986, FHCRC has worked hard to ensure in a case mentioned in a 2014 newsletter about an that all residents and potential clients in real estate advertisement FHCRC located which stated that in Riverside communities – including buyers and no pets were allowed in the apartment complex. renting individuals – will be able to rent and invest After an investigation, it come clear that the in houses without any unlawful housing practices or house management did not allow individuals with discrimination. disabilities or the accompaniment of animals on the property. The FHCRC filed a complaint against the homeowner, garnering a fair settlement including mandatory training.

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and worked together with FHCRC to make sure justice prevails.

2015 -2016 FHCRC Between 2015-2016, FHCRC has had marvelous achievements by use of workshops and training as their major tools. For instance, training about sexual harassment was considered after the FHCRC received increased sexual harassment claims in the past years. For example, in 2015, FHCRC received a complaint by a female home seeker who faced sexual harassment by a local housing provider by offering the female applicant certain house rights and preferences in exchange for sexual favours. The house seeker was denied the house after refusing to partake. The FHCRC intervened and offered free trainings for those who feel sexually discriminated against.

Other workshops conducted

by FHCRC the same year which led to their achievement include a housing and living options workshop, a predatory lending/scam workshop, and a homeowners workshop. Among the topics discussed were common predatory lending practices, home repair, foreclosure prevention, tenants talked about many of frauds, and energy saving their grievances, including being programs. denied assistance as Spanishspeaking tenants. These lead the Conclusions: FHCRC to conduct a door-to-door survey to confirm that this was the For the past few years, FHCRC case. After that, they scheduled a has been able to achieve its goals meeting with the management through the implementation of company. The company agreed to training and workshop strategies. hire bilingual staff to reach out to They have managed to create the tenants, which led to a better awareness in individuals living relationship. in Riverside communities about

Workshops

In 2016, they hosted numerous workshops. For example, in April 2016 they hosted a housing conference in honor of National Fair Housing Month, which was held at the Riverside Convention Center. Among the issues addressed were homeownership and financial stability, how to meet affordable housing needs, housing needs for special individuals, and updates on legislative actions to enforce the fair housing acts.

In 2015, FHCRC conducted a workshop of which the major focus was on fair housing laws.

During the workshop, many

In the same month, they recognized the champions for justice by awarding individuals who have sacrificed themselves

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their rights. They have been able to improve the relationship of tenants regardless of their social status, religion, race, or country of origin. FHCRC has managed to help individuals who take early action and utilize the loan modification process. This gives them a higher success rate in keeping their homes and avoiding foreclosure.

It has brought some sense to the housing company and ability to avoid lawsuits which can amount to huge financial losses to the housing company. Above all, FHCRC has managed to break down the barriers in housing.

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GREEN

WHY GOING GREEN IS IMPORTANT FOR

COMMERCIAL REAL ESTATE IN 2017

T

ake a look at what is happening. One thing that is so evident is the fact that going green is not just about the environment any more. Firms have realized that going green is a culture that needs to be cultivated – it is about helping employees reach their best. In addition to being kind to nature, it is a motivating factor to the employees.

People have taken this initiative to a completely different level and have come up with great definitions of a green economy and a green work place. It is not about plants. Simply printing fewer papers and using updated lighting are just two of the initiatives that the green economy focuses on.

Giving less for more When “greening”, you are required to actually do less, and the returns that you will get are tremendous. It provides cost-effective opportunities for most businesses by the provision of energy saving systems; also, the materials used can prove quite cost-effective.

Commercial real estate is an area that green measures have been well embraced in. And many experts agree that getting more listings may be based on your green strategies. Here is what Roland Macias has to say about the green revolution:

“If you properly know how to use your GREEN designation and green lending, it’s going to get you more listings, this gives you a special edge versus other agents because now you have a way to finance these things without the seller having to do it.”

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Green measures will put you in a front row seat for gaining a competitive edge in CRE.

Giving the industry a surviving chance Green technology is a competitive technology that requires everyone’s undivided attention. Look at green technology this way: it is a second chance for the industry, a surviving chance. According to James Mitchell, Green CEO of renewablue,

buildings.

Green commercial real estate has been embraced nationally, but “greening” has enabled it to reach local programs. Commercial real estate is far more reaching to the local environs and both the government and businesses are embracing it positively. Basically, the real estate pros should know at the local level what strategies to implement and what to leave behind.

“If we can’t take the parallel [tracks] into one, our entire industry is at risk,” Minor changes that will bring difference If the industry is to survive, then real estate agents There are some minor changes in the industry that should begin seeing green expertise in relation as of will actually bring more differences to the industry. equal importance to all other services to their clients. When you look at the lighting sector, updating your lighting to adapt to the green measures could do a lot Green initiatives have also led to the strengthening more good in the industry. of leadership in the CRE industry. The industry realtors are the pillars and the vanguards of the Also, in the same manner, energy saving measures industry, helping it stand against the oncoming wave would also encourage workers’ productivity, across the country. encouraging the workers to leave working tools, like computers, off and also keeping lights off to help Investment in CRE- Green technology save energy.

considered

“Greening” has proven itself worthy insofar as investment is considered. People have now realized that it is important to embrace an energy-saving culture. However, many people think that what you go for right now to save energy, like solar panels, should come first; in reality, though, that is what should be your last agenda.

In recent years, investment in CRE has risen quite well, placing it first in a fast-paced world. Clients are drawn to measures that will help conserve the environment and this makes them feel safer.

Therefore, the investment is more rewarding. When considering the cost, clients will certainly want to go for measures that will cut costs significantly, thus placing the green revolution as an integral part of CRE. However, for this to work, the “greening” measures have to be used for the right kind of www.thepowerisnow.com

People have now shifted from a traditional way of doing things where there was much paperwork.

When this is prevalent, it was good to think twice about printing. It is much more efficient in terms of savings and nowadays more and more business have realized that this is the only way to go.

Final verdict Going green as an industry has helped so much in the opportunities available both on the local and national levels, and as such it has helped to tap all the available resources, resulting in a much better and more efficient way to do business. Commercial real estate is an industry with so much potential, and one way to make sure that this potential is well utilized is by making sure that green measures are widely adopted and harnessed to the advantage of the industry.

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GREEN

Is Green the way to go

in our economy?

W

hen the economy is at a drift, people ought to think hard on the long term solutions to keep the economy on the move. However, what is it that would bring lasting changes? Is green the way to go in our economy? It is a question that I have thought about and I am still thinking to myself.

Everybody understands that the economy is broken or at least if it isn’t, somehow it will. There are some fatal culprits affecting the economy as a whole and taken together, these fatal flaws create what I would normally term as an economic injustice and poverty.

So, is really green the way to go in our economy?

The answer to the unanswered question

economy, we need to understand why‌ why go green?

Why go green?...

There are a lot of reason why the economy needs to shift to a much more greener economy. If you look at the current state of economy, you will realize that we have limited resources, and more and more people are using them up and the current rate, then the future generation is likely to enjoy less than we are. Bold steps need to be taken and green revolution is offering a chance to save for the future generation.

Green building offer more benefits than you could The economy has suffered so many blows and possible ever imagine. Therefore, sooner we move green offers an antidote to all these blows. Actually, towards green economy, the better the. Here are green offers a wide array of services and remedies some of the reasons why we need to think green as to our unconsciously breaking economy. But first, part of our economy: to understand what green can actually do for our

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1. E NVIRONMENT: Green economy is an economy that takes care of the environment. Making the world a better place will definitely start by making sure that we implement green practices into our homes and the offices.This practices will help reduce wastes, and also help in the long term conserve the natural resources, improve the quality of air and water and promote in improvement the ecosystem.

2. HEALTH STANDARDS: Green economy is also geared towards making sure that the health standards of people are well taken care of. Green economy is not about the environment alone, it is also about the health of the participants. This economy promotes sustainable design and technology that will on the long turn improve the resident’s overall quality of life.

3. I MPROVING THE BUSINESS PRODUCTIVITY: Greener economy is a motivating tool for business worker. Research indicates that green economy motivates workers to work for the best and thus, they work towards promoting the business productivity leading to a much healthier economy.

All the other factors considered, green economy is a much better solution towards making sure that the economy is well fed and long term problem are taken care of. Green economy is a very crucial step to take towards making sure the economy is well sustained of its problem.

The main stakeholders of energy department should come in to work with and put their synergies to work with the rapid large scale deployment which would of course be a very powerful way to jump start the economy in as far as job creation is concerned.

Decrease US interdependence on foreign oil

Therefore to answer the question- Is green the way to go in our economy? Definitely, yes! Here are some of the reasons why green technology should Basically, this has been the aim of the Green energy be adopted. and the main focus of the green revolution. Green economy focuses on making sure that the economy Green economy for green jobs stays free from the foreign dependency on oil.

Green economy will enable the economy towards the creation of better jobs in the economy. To go back a little, we need to focus a little on the green energy. This is one of the place to start to rejuvenate the economy.

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Also green economy will make sure that the use of electricity is cut significantly. More than half of the America’s electricity come from burning coal power plants and of course, this happens to be the largest source of air pollution.

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By adopting green measures, that means that the With training and some technical assistance, the country is now depending on more cleaner energy lenders invest to the success of the borrowers along that is pollution free. with availing some loans to them. Now, all this has been made possible through green economy Addressing the environmental concerns initiatives. The people who provide the loans to the lenders expect somewhat reasonable rates of return.

Green economy is about making sure that If the banks along with other institutions where environmental issues are well addressed and solution people drain their money were to follow these simple for them found. Air pollution has been one of the rules, then the economy would be at a better place. environmental issues affecting the whole nation.

By shifting the energy needs from non-renewable Green economy is the way to save the economy from sources to renewable like solar energy, it means that drowning. Green economy has so many advantages the environmental needs are well taken care of. and what make it even better is the fact that it harmonizes all other economic sectors bringing so Also green economy emphasizes on the use of much benefits. Therefore, green economy is the way bio-degradable materials which are environmental to go for any economy out there. friendly. Using materials that are not bio-degradable will only hurt the economy. Therefore, this move will help in saving the environment.

Promote community investing As it is the trend, all over the country, people do invest in banks, credit unions but never community investing. Now, the basic and the governing tool towards community investment is making sure to keep the community investing institution so strong.

Basically, lenders and the borrowers know each other and the each act on the best interest of the other.

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THE POWER IS NOW MORTGAGE SERVICES

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APPLY ONLINE AT WWW.APPLYTOBUYNOW.COM OR CALL 800-261-1634 EXT. 703

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Programs:

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• Obtain Preapproval online in 48 hours at www.applytobuynow.com • Join the Power Is Now Buyers Club for free at www.neverrentagain.com ERIC LAWRENCE FRAZIER MBA CA BRE: 01143484 | NMLS 461807 The Power Is Now Inc. CA BRE: 1980407 | NMLS 1435243 Website: www.thepowerisnow.com

Grant Funds for Down Payment Assistance 100% FHA Financing Programs Conventional Loans Government Loans Jumbo Loans None Prime Loans Commerical Loans Private Equity Loans Land Loans Note Loans Buy a Home 12 Months After Bankruptcy, Foreclosure and or Short-sale.

Email: eric.frazier@thepowerisnow.com Video Chat: https://zoom.us/j/5443077305 Mobile: 714-361-2105 Office: 800-401-8994 ext. 703 Fax: 800-401-8994

The Power Is Now Inc., is a Mortgage Brokerage Licensed by the State of California CALBRE License #1980407 and is not affiliated with any state or federal agency. Go to www2.dre.ca.gov for verification. The Power Is Now Inc., is also licensed by the NMLS License #1435243. Go to www.nmlsconsumeraccess.org for verification. The Power Is Now Inc., is an equal housing lender. Our corporate office is located at: 379 6th Street Riverside, CA 92501. Telephone and Fax: 800-401-8994. Eric Lawrence Frazier, MBA is a California Licensed Loan Originator NMLS# 461807. This is not a commitment to lend or extend credit. Restrictions may apply. Information and/or data is subject to change without notice. All loans are subject to credit approval. Not all loans or products are available in all states.

COMMUNITY

What the lean housing inventory

means for home buyers pring is here and as usual home buyers across the US are looking forward to striking a deal on their dream home. However, unlike the previous springs, this season poses a major challenge in the housing market.

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McLaughlin believes that even though prices in some markets have risen past their pre-recession peaks, the sector is headed for a slowdown, and therefore investors should not be worried about a price bubble.

Homes for sale are in short supply.

Buying a home this spring will not be easy.

In an interview with the Scotsman Guide on April 10th, Ralph McLaughlin, the chief economist at Trulia, warned of growing gridlock in the market as homeowners continue to hold on to their inventory even as prices continue to rise. According to McLaughlin, the inventory crunch is going to worsen if policymakers do not act fast.

With home inventory nearing 20-year lows, mortgage rates rising exponentially, and home prices going through the roof, Nela Richardson, the chief economist at Redfin, warns of the toughest spring season for buyers in a decade.

In a report released in March of this year, Trulia noted that markets with the biggest gains since 2012 are the hardest hit by the housing inventory scarcity.

In January through March, housing inventory across the country hit its lowest level on record, with the number of homes on the market falling by 5.1% over the past year.

According to Atom Data Solutions, since the 2008 subprime mortgage crisis, the average time it takes a given homeowner to decide to sell their house has nearly doubled. This means that the number of homes being listed on the market for resale has dramatically declined.

If you are planning to buy a house this spring, make sure that you act fast on any listed home of The Trulia economist believes that the reason your desire, else another buyer may cut in on the homeowners are not willing to put up their homes opportunity. With the lean housing inventory, listed for sale is either because they are underwater on homes are taking as little as three days to get a buyer. their mortgages or they fear that they will not be able to buy a new home after selling.

The problem is here to stay.

Case in point, in February alone, the inventory of homes for sale in Minneapolis dropped by 25% compared with a year earlier. According to the Minneapolis Area Association of Realtors, the decline saw a corresponding median sale price rise by 7.6% to $223,000.

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Other homeowners prefer to rent rather than sell given steadily rising home values and rental income. As long as housing inventory continues to thin out and home values soar, renting will remain the most viable option for this type of investor.

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Also, the construction of new houses is still yet to fully recover from the housing bust of 2008, meaning that the number of new houses being introduced in the market each month is nowhere near the demand.

According to McLaughlin, the construction of new homes in America is currently at 65% of its long run average.

What needs to be done?

If the housing crunch is to be eliminated, policymakers need to work together to make it easier to build housing, especially in areas with high scarcity. One way to do this is to eliminate all the unnecessary regulatory compliance costs.

The loosening of construction regulations will not only encourage new house construction but will also put downward pressure on home prices. According to a 2016 study by NAHB, on average, government regulations account for 24.3% of the final price of a new single- family home.

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In the past, President Trump has vowed to dismantle the burdensome regulations in a bid to revitalize the homebuilding industry. The question now remains as to whether he will be able to pass and implement the policy. Policymakers can also encourage homeowners to put their homes on the market by reducing capital gain taxes.

Mortgages are still affordable in most markets.

Homebuyers should not give up on buying a home, since the current mortgage rates in most markets are below the renting cost. Therefore, thorough research should be done before making a decision on whether to rent or to buy.

If you are looking to buy a home and do not know where to get started, The Power is Now is ready to guide you through the process.

Contact us for a free consultation.

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COMMUNITY

WHAT THE LATEST CALIFORNIA CONSUMER SENTIMENT SURVEY MEANS FOR THE HOUSING MARKET

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ince the GOP took office in January, consumers have been optimistic about the direction of the economy. This is according to multiple consumer sentiment surveys carried out in various states across the country.

Consumer confidence in the economy means an increase in demand for housing and therefore prices.

Even though mortgage rates are on an upward trend, latest data shows an exponential increase in demand for houses and a thinning supply across the country.

In California, this spring season is proving to be Even though the latest national consumer sentiment the strongest seller’s market in history as demand survey conducted by The Conference Board shows a for houses surge, prices skyrocket, and consumers slight decline, consumer optimism remains at strong scramble for the few homes listed on the market. levels compared to where it was in the last months of 2016.

While the housing inventory crunch is partly to blame for high demand, growing consumer’s confidence Californians, even though not very fond of Trump, in the economy is the key player. Consumers are are optimistic on the current status of the economy hopeful that the economy will continue to strengthen, but are less confident about the future. For instance, pushing interest rates high and are therefore rushing Chapman’s University Consumer Sentiment Index to lock-in mortgage rates before they go any higher. shows a surge in consumer confidence in California from 105.5 in the last quarter of 2016 to 111.4 in the Potential sellers, on the other hand, are holding first quarter of 2017. on to their homes due to the fear that mortgage rates may become unaffordable in the future. The Another California survey by The Conference Board consumer sentiment survey shows that the majority shows that in March, consumer confidence rose to its of Americans are less confident about the future, highest mark since 2007. The rise is on the optimism probably due to the uncertainties revolving around of current economic conditions, given that the same Trump’s ability to steer the economy towards growth. survey shows a dip on consumer optimism about the future.

Homeowners also fear that if they sell their homes now, they might not be able to buy homes in the future given rising home prices and a decline in new High consumer sentiment is good for the home construction.

housing market.

In regions such as Southern California, rising Rising consumer confidence levels are crucial to employment and income rates coupled with a low the economy and the housing market because an supply of apartments are pushing rental income up, optimistic consumer is likely to spend more on making homeowners prefer renting over selling. big-ticket purchases and therefore boost economic growth.

High employment and income rates tend to attract

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a large population, hence increasing the demand for homes either for rental or sale. According to Consumer Price Index, the cost of renting in South California rose at the fastest rate in years in 2016.

This year is no different, with a report by Axiometrics showing an increase in the average monthly apartment rents in Los Angeles County, Ventura County, Inland Empire, and Orange County.

Consumer’s faith in the housing market remains strong.

When compared with last year, the report shows an 11 percent increase in the number of Americans who believe that now is the best time to buy a house, and a 7 percent increase in those who think that now is the best time to sell.

While it is hard to predict which direction the future housing market will go under the current administration, consumer confidence in California and across the country is a sure sign that we are headed in the right direction.

If you are looking to buy a house in California, According to a recent survey by Fannie Mae, contact The Power Is Now for market insights and consumer’s faith in the housing market is stronger information on the available opportunities for you. than it has ever been before. From the beginning of 2017, the consumer’s confidence has been on a steady rise, with Fannie Mae Home Purchase Sentiment Index hitting an all-time high of 88.3 in February.

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COMMUNITY

Character traits of a homeowner versus a renter

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he choice between homeownership and being a tenant is one of the biggest decisions a person has to make in their life. Different factors play key roles in choosing between owning up to the responsibility of having their own property versus inhabiting real estate that is maintained by a different owner. People who opt to own homes rather than renting tend to show differences in personality and financial capability.

paperwork, properties have become more accessible to the common man.

Homeownership can now be had by people who are capable of taking on certain responsibilities that are far different from battling for their stakes and claims. Based on numbers crunched by Ravi Iyer on a survey of around 800 people in 2012 through yourmorals.org, owners are more inclined to spend on material things rather than experiences.

Personalities Owners prefer stability and security, whereas renters displayed traits of being more outgoing and seeking Historically, ownership of property boiled down more experiences. to physical strength. The strongest warriors would stake claim to land and home to defend it against Respondents who own their homes expressed that others looking to occupy property. Times have they are also tidier and more detail-oriented in changed, and through years of lawmaking and general than renters, who described themselves

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as less so. Owners are more willing to take on the responsibility of caring for their own homes.

Status in life With everything involved, age and maturity show a key role in decision-making. The largest share of homeowners in the US falls between the ages of 4554 years old.

Civil status also shows significance in the occupancy of owned homes. Married couples account for 60.1% of people living in owned properties, while only 13.3% are single. Singles occupy 26.1% of rented space, while non-family tenants occupy almost half, at 47.1%.

Income Level According to an American Community Survey from 2012, income is a key component in making the decision of whether to own or rent a property.

Figures show that the median incomes for renters is $31,888, while owners rake in more than double at $65,514.

The financial stability of a higher income enables these owners to purchase property and maintain it for the purpose of renting it out or using it for personal occupancy.

Ownership mentality Times have radically changed home ownership and occupancy habits. Laws have shifted the power from the physically powerful to those who

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have the strength to take on responsibility as capable owners of land and property. The discussion between owner and tenant will almost always include “owner mentality”, which is the accountability of possessing a property. It’s taking care of every occupied space as if it were your own. It’s maintaining a certain quality to spaces that are meant to be lived in.

“Ownership mentality” is what most owners try to instill in renters. It’s now a tenant’s responsibility to respect an owner’s property and decision to rent out properties.

Responsibility and accountability Responsibility and accountability are the paragons of occupancy. Whether as an owner or as a tenant, taking care of a condo or a house is paramount in enjoying the spaces one can live in. There may be differences in the types of people or where people are in life, and these affect the decision to own or rent, but it all boils down to preference and capability.

Conclusion Renting gives a certain type of people the capability to “own” property. Owning gives others security and stability. When it comes down to purchasing property or renting from someone, it will always be a matter of convenience and financial sense. All factors revolve around making homes more accessible to everyone. Gone are the days of a warrior standing watch to guard his home.

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Making A Great Market DURING MEMORIAL DAY

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emorial Day is one of the most important days on the fiscal year calendar. Many businesses have an opportunity for a big catch because most of the buyers have thawed out from the winter’s chill and are very ready and eager to get out and buy. Therefore, Memorial Day for many businesses presents a unique time to make great sales.

chances are good that the house may be purchased.

Memorial Day presents a unique opportunity for people and their families as well as contractors to view the different projects that a business has. It is a day that presents an opportunity for businesses to find a lot more customers than ever before. Therefore, it is a good idea to have your houses open for this day.

Even so, you ought to reorganize your plans for the day. This is not like other days. It is an opportunity Significance of the day to buyers for you and your business, and your sales strategy should therefore change accordingly. Your sales Nowadays, people no longer walk around to try to team needs to be well organized and prepared to find homes suit their specifications. Realtor’s sites accommodate all of your customers. have made work so easy that in the comfort of your sitting room, you can easily find everything you are Memorial Day and Real Estate looking for.

Your real estate business should be up and running.

This is a day where you can get amazing deals to get you running for the rest of the year. Just like all the other businesses out there, your team of agents should be focused to make the most out of this day.

Questions have been raised as to whether it is good to have an open house during Memorial Day weekend.

Having an open house during Memorial Day is a good idea and if you find someone coming to view your house during this day, then you should know that the person is very serious about the house, and

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But since Memorial Day brings people together, when you have a home open for viewing, people get to appreciate it. The day acts as a bridge, forming a connection between the buyers and the realtors.

Open houses are important, but to make your dreams come true, the house has to sell itself regardless of the day. The house has to show itself out and make sales even when the homeowners are not present. Your buyers are your neighbors. Having the house open during day of get-togethers presents an opportunity for your neighbors to see what is in the house.

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Having caring neighbors is important, as they will What you need to do during the Memorial find some people (friends and relatives) who can buy Day the house. Therefore, Memorial Day is an important day for both the buyers and the homeowners.

Remember that this day is a unique day, so your normal programming has to change. There are some certain things that you need to do in order to increase your success with the day, including:

1. Start your campaign 2. Reward the deserving early enough The problem with many realtors is that they want to wait until a few days prior to Memorial Day and that is where most fail to capture a lot of potential customers during this important day. You should start your campaign early enough – a week or two before Memorial Day, by sending emails, brochure, or catalogs concerning a great offer you want to make to your clientele.

The true spirit of this day is all about the veterans and the heroes who have done lots of sacrifices for the country. As a real estate agency, you need to show that you appreciate the fight and the struggles of the brave men and women of this country. Reward them accordingly, and this will set you up well to make great sales.

3. Go for premium promotion You do not want to appear fly-by-night; therefore, going for premium promotion just stresses out the importance and seriousness of the offer that you are presenting on the table for the customer. Premium promotional tools are likely to put you ahead of all your competitors and gather you credible customers.

Memorial Day should not be just a normal day to you. It is important that you get to stay on the front.

Do not wait until the last minute: plan ahead for the day and you will see the change.

Final verdict Making your market during the Memorial Day should not be that hard. A lot of realtors will normally fail at this because they do not oversee or plan ahead on how to make their offers on this day. With little or nothing to show, failure in planning prior to Memorial Day will convert few to no potential buyers. Keep all your houses or projects open for people to see. But also remember that the people around you are your customers and make the property appealing to everybody. Good property sells itself out rather than being sold.

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Mother’s Day:

Tips to Make Great Sales M

other’s Day is an important day – not just for the mothers out there, but also for everyone. It embodies the essence of love and compassion and brings together most of the family. All you can feel in the air is “there is nothing like a mother’s love.”

But some may be off-duty; so during this day, you are presented with a very unique opportunity where you can present your open houses just for potential consumers.

Even though the day is normal, you should celebrate accordingly. You do not want to look out of line.

Mother’s Day dates back to a century ago; it is an old There are some certain things you may do during this tradition that is full of splendor. However, it is also special day to attract even more potential customers. a day that presents unique opportunities for people For example, you may want to offer lunch or dinner in business. In real estate, there are a few hacks that for every woman in attendance at your showing. will help you make the most out this important day Simple things such as offering a flower to them for mothers. might do the job for you.

Present an open house

Later on, or before, you may want to offer gift cards to every woman in attendance. Gift cards for mothers You should understand that not many people are are important; they are simply a gesture that says “I available for their mothers. Most of them, in fact, value you” to the moms. Therefore, it is something will be busy doing their normal day-to-day hustles. that will show love to the moms present for the

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you are offering by offering some heart. It is a strategy that will help discounts. you make some solid sales.

Discounts are an attractive factor that will push a lot more customers your way. By comparison, you should note that discounted items go faster than those which are not; therefore, offering discounts and other offers on this special day will do you a lot more financial good than damage.

Write something about mothers This might seem a little bit off, but it works every time. If you want to impress your potential consumers, write something about them. Have you ever gotten the feeling of being appreciated whenever your name appears somewhere? That is the same feel that you will give to every mother out there if you decide to include them in your writing. It could be as simple as a blog post.

open home. Also, when collecting these cards, you may want to collect their email addresses, which you can later use to send an email thanking them for their attendance, thus increasing your Mentioning mothers in your customer base. website could mean a lot to every mother who comes across it. It Offer discounts is also a special way to express Offering discounts on this gratitude and love to every mother important day can also help you out there. win big. People will always be attracted to a reduction in price, and Mother’s Day presents a unique opportunity to do exactly that. You may want to encourage people who will want to see what

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Write about everything, such as how mothers should spend their special day. Week after week before and after this memorable day, write something engaging that will reach out to the mom’s

Celebrate your mom Even if it is business as usual, taking the time to celebrate your mothers as a realtor or as an agent will actually help put your brand on the map. No mom would want to buy from a firm that does not appreciate their moms; taking time to celebrate your mom will give you a very competitive edge.

If possible, as a firm, you should schedule time on the calendar to be with your mom; invite her over to the firm and have a special dinner with her or celebrate however you want.

That is the essence of celebrating with your mothers. Other people will feel a sense of security and belonging if you are the first to show what you can really do for your mom.

Taking time to celebrate Mother’s Day yourself is very important not only to you, but to also to your business and the environment around you. Mother’s Day is an important day – a special day that will bring families and friend together – and this will present a very unique opportunity for you to showcase what you have and what you have coming.

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TECHNOLOGY

CAN TECHNOLOGY REPLACE THE HUMAN TOUCH?

The PIN Magazine | May 2017

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verywhere you go these days, there’s talk of automation and technology replacing the human touch; there is no doubt, technology is surely advancing at a very rapid rate. Focusing on mortgage production, one thing is clearly evident: the process has become so centralized and automated, even though the process remains a little paper-based. Major hallmarks that will soon be the face of this industry have come up, changing the tone and shape of the industry.

Everything has become so easy: loan underwriting, electronic signatures, and the establishment of userfriendly “portals” which help the users oversee their loan application translate into a faster approval process and delivery, which makes these advancements become mainstream in loan application and delivery. Loan approval has also become very easy and fast thanks to the automated borrower-verification tools.

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improved, and given that the country has a very strong job growth rate as well as stable home sales, the purchase loans volume is We may argue on this issue, but logically, expected to increase in the current year and technology has done so much for the economy the year to come. and has changed the way businesses are run and conducted. But here is what Kermit Back when the housing market was doing Randa, CEO of PeopleAdmin has to say about fairly well, a few consumers were able to get approved for a mortgage online. It was technology and human touch: in this phase that the mortgage lenders were “Even as we celebrate the contribution in complete dominance of the whole process, technology makes to helping educators do which was neither automated nor efficient. their job most effectively,” Randa says, “it is important to recognize there is one thing But with technology, the industry has technology will never replace: the value of seen enormous changes and a number of the human element in helpings schools, innovations; with this improved technology, verification of borrower’s income and assets students, and communities succeed …” are instantaneous. When searching for loans However, even if there is so much evolution and their pricing, the process has become in mortgage lending and all that goes in and so easy and very fast thanks to the new and out of this world insofar as technology is improved technology. concerned, the overall user experience has not yet gotten better. Basically, there are so Everything has become electronic for the many challenges that are yet to be overcome. improvement of the consumer experience, Financing a home, for example, is still and what is more, people can now sign very confusing for many people since most disclosures electronically – even ordering a consumers or borrowers are unable to get tax transcript from the IRS has become an what they are looking for in terms of help in electronic process. solving the many puzzles in their head.

But we have to face one fact: even though all Technology has done so much to change the of these huge steps have been made for the way things are in so many sectors today, but benefit of the consumer, many of them have the same old taste of mortgage cannot be been motivated by the need of the lenders to replaced – not that easily. Reversing these cut and manage costs. trends will require the lenders to find new ways to give their borrower counterparts Access to information systems a combination of technology and human expertise. Therefore, replacing human touch Technology has also enabled consumers to with technology is something that will take get access to greater and more informational systems about mortgages than ever before. time.

Most of the consumers have very little information about mortgages, but with access Improving the consumer’s to information, they become informed. In some experience ways, technology may have made consumers This should be a time when the mortgage independent of the human expertise which experience for the consumer should be they had previously largely depended on to make some of the crucial financial decisions

Technology compared to human touch

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of their lifetime.

With all that that technology had done and still continues to do, many borrowers still fill out the forms manually, meaning that incorporation of the technology to the process has not been well accepted or coverage is still very low. Ironically, it turns out that most of the borrowers are interested in a good loan rather than a technological touch in the mortgage issuing process.

officer is required to oversee the the industry insofar as mortgage process. lending is concerned, there are huge strides that it has enabled But this tech has a major drawback and much credit has still been that perhaps may be the number given to the changing technology one thing pushing people away and its impact. from these improvements. If you are a borrower, and you get However, none of that would stuck in the process, there is no ever be possible without human one to help you; or if you have a engagement. The whole process question, there is no one to assist needs human touch since humans you. are the source of the ideas while tech is just a facilitator of the These portals are very important, ideas. Therefore, even though and have generated success for automation has been encouraged, many mortgage seekers. One it cannot replace the human touch. thing you will realize is that But we can still push for more automation creates consistency and more digital mortgages and and can be applied as an effective responsive tools; in doing so, most tool in helping the loan advancer borrowers should understand that in seeing the loan advancement to many people are looking for the the borrower through. right mortgage, not just a fast one.

People are going for not just what works; simply, their focus is on things that do not show results, yet more and more mortgage lenders are putting more emphasis on social media. However, even though that is great, research from McKinsey proves that emails are more effective; but as it is, many Final verdict lenders do not respond to a single email within a day.

Can technology replace the human touch? That depends. If you look Targeting and reaching at what technology has done in

more borrowers

We all would agree that making the mortgage process faster and much more efficient remains at the top of every lender’s list. But as it is, most professionals want to take advantage of the prevailing strong housing market to help their business boom.

The online portal, a tool that has been on the rise and that many lenders are realizing just how important it is, has been in reaching so many consumers out there. With these portals, consumers can now apply for loans and get approved much faster. Additionally, no loan

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TECHNOLOGY

Technology Real Estate Agents

NEED TO BE SUCCESSFUL

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gents are very important when it comes to real estate business. The reason we refer to them as important is because they act as middlemen between the buyer and the seller.

In order for a real estate agent to perform his duties properly, he should be capable of having good access to properties, being able to understand and handle all contracts with ease, having constant communication with his clients, Some of the duties real estate agents perform having good negotiation skills, being up to date include: finding potential clients; advising with real estate trends and developments, and and giving information to clients about prices, being professionally trained and licensed. availability of properties, and conditions in the markets; negotiations; preparation of documents Some of the most used technology, which is related to their work; field work; and evaluation recommended to every real estate agent, includes: of market prices.

MOBILE DEVICES These devices may include mobile phones, tablets, and iPhones, among other portable communication devices.

This mode of technology is very important because it helps agents to connect effectively and have conversation with the clients by use of:

Text messaging

This means of communication it’s becoming more popular in the business. It gives real estate agents the ability to exchange information instantly.

Web browsing Most real estate agents consider having a website for their company that provides exposure and helps connect instantly with clients looking for information about real estate online.

This method is efficient because most mobile phone owners spend most of their time on the Internet. A client may connect with an agent online through web browsing.

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makes work easier when giving downloaded online. directions and addresses of There are number of applications the properties to clients. This Mortgage calculator which are very important to real application can be used for free on smartphones and the web.

This application helps the buyers estate agents; easily calculate their monthly Camera or Cam Scanner mortgage payments. If you have Zillow This is one of the most used This application enables real the application on your mobile applications that help clients estate agents to work with ease. If device, it makes work even easier search properties online. It has you want a copy of a document in simply because you just have to extra features that provide a better you real estate dealings, you just pull it out of your pocket and work overview of what properties are on take a scan of the document and out the approximate payment sale and their prices in the market. send it where it is required instead while still at the property.

The application is available on of going to the office to do it. The iOS, Android devices, and the camera can be important when Google sketchup pro clients want to see the real photos This is becoming a popular tool web. of the properties. especially for agents in real estate marketing. This application Google Map Cloud services permits the clients to search for For field work, every real estate agent needs Google Maps – This is an application, which the properties they are interested especially for clients who are helps in the storage of data and in and its surroundings and view unfamiliar with the areas where documents and to be able to access it in 3D. the properties are located. It them anywhere. A good example of this is Dropbox, which can be

APPLICATIONS

The aim of real estate agents is to become successful and to get a fat commission check after completion of a transaction with a client. In order for a real estate agent to thrive in real estate business, they should be able to keep their working schedule at the field and in the office up to date, and they should be able to have constant connection with the clients. For this to be possible, an agent needs to implement the use of the different modes of modern technology, which are now available in the market. www.thepowerisnow.com

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YOU

5 important steps to Improving your

credit for homeownership

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eal estate estate is a booming business with a promising future – one that has huge potential for growth. Getting loans and advanced loans is very easy, and the process has been simplified.

Potential homebuyers have only to keep an eye on their finances and credit. Having bad credit can sometimes be very stressful, and it could cost you more, but on the other hand, it is not the end. There are some things that you can do to help yourself out and improve your credit score.

Getting your credit reports will help you in determining your credit score. And if you want to improve your credit score, it is crucial that you start here, with your reports.

Credit reports are very important

Steps to improving credit for homeownership

Do not just sit awaiting the credit limits to go out of bounds. As a homeowner, there is a need to be concerned with your credit balances. If you have to work on your credit, then it is very important that you understand what you are working for.

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Always be concerned with your credit reports by getting copies of credit history for your home. That way, you will be able to keep everything in a constant place, which will help you increase your credit for homeownership.

Here are five general points that will help you in raising your credit score for homeownership. It is very important that you follow them well if you want to increase your score.

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1. Make sure to maintain a 2. Clear your high interest 3. Always pay your dues on good credit mix loans and the small loans time first This is one of the things that you have to make sure you get right.

As a homeowner, your loans have to be a good mix so that is there should a pre-existing balance between good loans and bad loans.

With no asset creation, small loans can put a huge drain on your finances. However, to improve your credit for homeownership, it is a rather prudent decision to pay your home loans off over In case you are wondering what long periods. However, clearing the credit mix is all about, here is the small loans first is a far better what you should understand. Bad decision because these loans often loans include personal loans and have very high interest rates. credit, while good loans involve home loans and business loans.

The home loans, on the other hand, are better; their interest rate These two categories must be in is lower compared to the personal good balance for your credit score and private loans. And given that to improve your homeownership home loans have an asset attached credit score. If you are a to them, it these loans are better spendthrift, then investing in paying. home loans is a better decision; your credit mix will be healthier and you will be building an asset at the same time.

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This is an important factor to consider for all those who want to raise their credit for homeownership. It is best that you have any due that is yet to be cleared or paid cleared on time.

Also, always make an effort to clear these home dues in full. A lot of homeowners get this wrong: they never want to pay their dues on time, and when forced to pay, they will pay halfway. This is a malpractice that will hurt your credit score for homeownership.

Let me surprise you, paying your dues on time and in full earns you 40% of your credit score.

Not paying your dues on time will only compromise your score, adding unnecessary interest and payment charges.

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4. Close the unwanted savings account When your loan is finished, it is imperative that you close down the savings accounts that are inactive.

Many people tend to just let their saving account lie dormant once they finish their loans. The effect of this is that all the savings accounts that are left with less than your Minimum Average Balance will start negatively affecting your credit score.

5. Always keep your credit owed within its bounds This is very imperative and very important for you to follow. Always keep your loans and your credit balances within the required limits. Exceeding your balances may negatively affect your credit score.

As opposed to most people’s thinking, a good ratio is not having an outstanding credit balance above 50%.

Basically, you do not want anything like this to If you want your homeownership credit to improve, happen to you; therefore, you should make sure that you should try to make sure that your balance is you close these accounts down. Make sure that you halfway between the credit limits. get your account or the loan closure certificate.

There are some instances where you are forced by circumstances to not pay on time. In such cases, you should make sure that you negotiate for your payments. What normally affects so many people’s credit scores is the fact that they know that they will not be able to make their payments in time and choose to do nothing about it. Negotiating for your payments will increase your chances of raising your credit score.

It is very easy as a homeowner to improve your credit score. Improving your credit for homeownership is easy and actionable. But as it is, so many people choose to do nothing about it. The above steps will help you in making sure that your credit score for homeownership is far above average. Again, for all those who are definite card spenders, it is best that you use two cards; this will help you in raising your credit for homeownership significantly.

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YOU

Why Everyone needs a

Household Budget?

B

udgeting is simply planning your expenses so that you can keep your expenses within the income threshold and also save something for a rainy day. Budgeting is even more crucial in the current economic situation, where there is high inflation, recession, and other uncertainties that make financial planning difficult. Most people struggle with low income and high expenditure and liability issues because they do not have a budget and are unable to balance their income with their expenditure.

Budgeting is a crucial requirement to planning for a financially secure future.

All of us have the tendency to make an impulse purchase and to later realize that it was not required at all. There are so many expenses we incur on a day-to-day basis without even realizing that they are unnecessary expenditures.

The realization only hits us hard when we face a financial crisis and find that if we had saved money instead of spending it unnecessarily, we would not be in such a tight spot.

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The Benefits of Designing a Household Budget The following steps will help you design a budget that can help cut down on unnecessary expenses and save money for unexpected situations.

• First, list out monthly income from all sources.

• List out the monthly expenses, classifying them into three broad categories: High Priority, Average Priority, and Low Priority.

-- High Priority expenses include all expenses which are mandatory and cannot be done without.

-- Average Priority expenses will include expenses that are required but can be put on hold until there is adequate income to manage those expenses.

-- Low Priority expenses are all unnecessary expenses on frivolous things that one can do without.

• Cut back on all unnecessary expenses, and instead put that amount aside for future use.

• Put aside a percentage of your income towards forced savings. The percentage will vary from person to person and will depend on the amount that is left aside after subtracting the expenses on the High Priority list and some of the immediate expenses from the Average Priority list from your income. Try to save as much as you can by asking yourself if the expense is necessary and if it needs to be incurred immediately. If possible, try to avoid the expense if it is not required.

• Put aside an adequate amount of emergency funding like maintenance and repair of household items or vehicles, medical expenses or any urgent expense that is not foreseen.

• After that, try to pay down as many debts as possible to cut down on the monthly outgoings and save on interest in the long term.

• Try to save some amount towards pension schemes and invest in a medical and life insurance policy.

• Make a list of all of your future plans like higher

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studies for children, vacations, and recreational and entertainment activities. You can list out just about anything that you want to do if you have enough money to do it.

• Make a list of your future goals and brainstorm ways to add to your income.

Conclusion Contrary to popular belief, a budget is not required only by those whose expenditure exceeds their income. It is useful for everyone who wants to manage their finances so that they can minimize unnecessary and frivolous expenses as well as save for their future. It is crucial to prepare a practical budget plan and regularly track and monitor expenses. This helps in identifying and preventing unnecessary expenses, making the necessary changes when there is a change in the financial situation, and in achieving the financial goals that have been set. Once you have a budget in place, it is fine to treat yourself once in a while as long as you do not go overboard and surpass the limits.

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YOU

How to be a power real estate agent

T

here is nothing more interesting than knowing that you are in the right kind of business and that you are doing what you want always to do. However, some dreams and passions are killed before they can even sprout because of a lack of the right kind of information. Information is the bridge connecting your dreams to the realities of life; with poor information, chances are you are likely to fail.

estate agent, education has to be a key element of your success. No matter which state you are from, you must keep pre-licensing your course.

Real estate is an area where diverse information on the workability of various systems is required. People who have tried it can definitively tell you that you require every piece of advice and motivation to get in and show the best you can. Being a power real estate agent requires your undivided attention and willingness to make it in the industry.

Here, we have prepared an incredible guide that will help you get started and make a hero out of you.

Knowledge is power, and the more knowledge you have about real estate, the better chances you have of becoming the best power agent and the more clients you will get. More clients mean more listings...and more money too!

Education - A key element of success

California, for example, requires three collegelevel courses. Therefore, it will depend on your state’s education requirement. Some real estate brokerage firms will have specific education requirements or require additional ongoing education.

Licensing is an important contributor of success Education is important, but with education and no bind to operate, how will you make a power agent out of yourself? It is important that once you have earned a degree, you get a license that will allow you to operate anywhere.

Many people who have made it in life are Many people who have made it in life are Licensing, however is different for different always eager to learn something new each day. states. Therefore, to make sure that you are on If you want to make it and become a power real the right side of the law, make sure that you

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know your state’s requirements that permit you to practice your real estate skills.

In most states, however, real estate brokers are required to have experience working as licensed sales agents. A real estate license is a powerful financial asset; with this license, you can open your office and do so many other things.

Be a part of something Realtor’s groups are important: they are your stepping-stones towards becoming a power agent.

There are so many brokerage firms out there that you can be a part of. But what is a brokerage? It is a firm or an agency, which real estate brokers and agents work from.

Budget your activities

Working with a broker is a requirement if you are passionate about becoming a power agent, since it To start on almost anything, you must have a budget. is through this path that you will get to practice as Becoming a real estate agent is not a cheap thing; and a real estate agent. Before you graduate from your as you will find out, getting into other professions is school, you need to contact the brokerage firm you much easier than getting into real estate. want to work under.

Again, you should understand that real estate business is commission-based, and therefore you need to get quite a significant amount of money to get started. The starting fees may include things like licensing fees, realtor’s membership fees, and other expenses.

A broker may require at least three months of training, so it is best to make your reservations early.

Also, when choosing your brokerage, consider its size, reputation, and the training they offer.

You will need also some money to help you hit the ground running for the first few months after starting out. This may seem scary at first, but once you get into the rhythm of things, everything will start flowing.

This is a journey, and every journey has its ups and downs. Once in a while, you will have the feeling that you want to give up, and that is why you need a mentor. Once you have decided on being part of a brokerage firm, reach out to your mentor.

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Find your mentor

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It is important to learn the dynamics of what you studying your local pricing. Learn more about your are getting yourself into. A mentor will help you geographical coverage and its worth. All this will with this. It is also a great opportunity for you to ask help you in defining your market accordingly. questions and learn more about what goes where and so on.

Finally, make sure to have your client

portfolio

Getting advice from someone you trust is a great jumpstart that will help you a lot in developing that This is perhaps the most important thing you will power agent in you. Through your mentor, you will ever do – and will always do – in your line of work. learn all it takes to succeed in the real estate industry. Power real estate agents will make sure to create their client portfolio. Basically, keep pushing and Mind your market keep asking for referrals.

Always be concerned about the needs of your market.

Be concerned about what your market thinks, reacts to, and wants. It is through knowing your market that you will be able to address the concerns of that market.

Successful real estate agents know their market very well; therefore, when it comes to pricing their products, they will always do this appropriately.

However, you must understand that gathering information about your market will take much time and effort.

As an agent, keep in the loop those clients who keep in you in their end game. If you are good at your game, your former clients will always help you in creating your portfolio.

Isn’t it easy making a power real estate agent out of you? Nothing else is required. If you have set your record right, then becoming a successful real estate agent becomes very easy. Therefore, follow the steps above and you will see that it is something that you will always enjoy doing.

Therefore, it is upon you to go out there and find out more about your market. Do regular homework by

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homebuyer’s workshop michelle dupree co-host Fisher Realtors BRE #01714686 (510)759-1045 direct (866)478-9622 fax

eric lawrence frazier MBA Speaker mortgage broker nmls #461807

register online here!

• Learn about Zero Down Payment Home Loans • Learn about Down Payment Assistance Programs • Learn about credit and underwriting requirements • Ask any question about the home loan process • Learn how to buy a 4 unit home as a first time home buyer

THURSDAY, MAY 25 7:30 pm fisher realtors nmls 01070856 180 broadway st ste. a richmond ca 94804

Eric Lawrence Frazier MBA President and CEO CalBRE #01143484 | NMLS #461807 Website: www.thepowerisnow.com E-mail: eric.frazier@thepowerisnow.com Office: 800-401-8994 x 703

The Power Is Now Mortgage Services is a Mortgage Brokerage licensed by the State of California Bureau of Real Estate (license #1980407) and the National Mortgage License System and Registry (license #1435243), and is a division of The Power Is Now Inc. (license # 01980407). The Power Is Now Inc. is not affiliated with any state or federal agency. The Power Is Now Real Estate Services is also licensed by the State of California Bureau of Real Estate (licensed #01980407), and is a division of The Power Is Now Inc. The Power Is Now Inc., is an equal housing lender.Our corporate office is located at 3739 6th Street Riverside, CA 92501. Our Telephone and Fax number is 800-401-8994. Eric Lawrence Frazier MBA, is a California licensed Loan Originator (NMLS license # 461807), and a licensed Real Estate Broker (CA Bureau of Real Estate license #01143484). Restrictions may apply to all loan programs. The Information and/or data is subject to change without notice. All loans are subject to credit approval. The information presented is not a commitment to lend or extend credit. Not all loans or products are available in all states. The Power Is Now Mortgage Services and Real Estate Services are A Division of The Power Is Now Inc., and are only licensed to conduct business in the State of California.

church of all faiths

homebuyer’s workshop charlene neely host / Associate Broker calbre #01235710 charlene.neely@thepowerisnow.com Office: 800-401-8994 ext. 740 Mobile: 510-435-0648

with pastor, Jeffrey m. parker sr. morning worship 10:30

eric lawrence frazier MBA Speaker mortgage broker nmls #461807

register online here!

• Learn about Zero Down Payment Home Loans • Learn about Down Payment Assistance Programs • Learn about credit and underwriting requirements • Ask any question about the home loan process • Learn how to buy a 4 unit home as a first time home buyer

sunday, june 11 1:00 pm church of all faiths 2100 5th Avenue Oakland, Ca. 94606 Eric Lawrence Frazier MBA President and CEO CalBRE #01143484 | NMLS #461807 Website: www.thepowerisnow.com E-mail: eric.frazier@thepowerisnow.com Office: 800-401-8994 x 703

The Power Is Now Inc., is a Mortgage Brokerage Licensed by the State of California CALBRE License #1980407 and is not affiliated with any state or federal agency. Go to www2.dre.ca.gov for verification. The Power Is Now Inc., is also licensed by the NMLS License #1435243. Go to www.nmlsconsumeraccess. org for verification. The Power Is Now Inc., is an equal housing lender. Our corporate office is located at: 379 6th Street Riverside, CA 92501. Telephone and Fax: 800-401-8994. Eric Lawrence Frazier, MBA is a California Licensed Loan Originator NMLS# 461807. This is not a commitment to lend or extend credit.

Restrictions may apply. Information and/or data is subject to change without notice. All loans are subject to credit approval. Not all loans or products are available in all states. © Copyright 2016 The Power Is Now Mortgage Services A Division of The Power Is Now Inc.

BUSINESS

Frazier Group Realty, Inc. As you venture into the World of Real Estate, we can help you put the pieces together and Naviagate you into Home Ownership

Ruby L. Frazier President License #01751773

Briana M. Frazier Broker License # 01751473

Jessica E. Frazier License # 01817312

Erica L. Frazier License# 01791095

Frazier Group Realty is the right place. Our Navigators are available to give you personalized service and answer any questions you may have. You can call, email or visit us and we will be there ready to help you every step of the way. Wether you are a first time home buyer or an experienced real estate investor, here at Frazier Group Realty you gain useful information about how to choose the “right” property, and everything involved in making an informed decision in today’s real estate market.

Making Clients for Life

3739 6th Street, Riverside, CA 92501 Office: (951) 686-5261 Fax: (951) 686-5264 www.fraziergrouprealty.com

Home Ownership 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.

By Eric Lawrence Frazier MBA CA BRE 01143484 | NMLS 461807

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