OCTOBER 2018 Vol. 05 | Issue 8
Hilda Kennedy About Ampac Tristate CDC
5
October is National Hispanic HeritageMonth tips to winter-proof your home
HOME SECURE DOWN PAYMENT ASSISTANCE PROGRAM
Thousands of people each year dream of becoming homeowners. The Home Secure Down Payment Assistance Program may help that dream become reality. • This homebuyer assistance program currently provides low to- moderate income families and individuals with a 3.5% Grant* that does not have to be repaid. The grant can be used towards down payment or closing costs. If their income exceeds 115% of the HUD Area Median Income then a silent second loan will be made instead of a grant that can be forgiven if payments on the 1st mortgage are made on time for 3 years. *Grant approval is determine by many factors including your FICO Score. Minimum FICO score is 620. Silent second loan forgiveness subject to 3 years of on time payments and other program guidelines/ limitations.
• Many times this allows homebuyers to purchase a home much sooner than they thought possible. The Home Secure DPA Program is available for the purchase of an owner-occupied single, duplex, triplex or fourplex family residence, approved condominium, or planned unit development located in the state of California. • The program is available for purchases of both new and existing homes and is NOT limited to first-time homebuyers.
Contact me for more information: ERIC LAWRENCE FRAZIER MBA CA DRE: 01143484 | NMLS 461807 The Power Is Now Inc. CalDRE: 1980407 | NMLS 1435243 Website: www.thepowerisnow.com Email: eric.frazier@thepowerisnow.com Mobile: (714) 361-2105 | Office: (800) 401-8994 ext. 703 The Power Is Now Mortgage Services is a Mortgage Brokerage licensed by the State of California Department 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 Department 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 Department 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.
HAVE YOU READ OUR PAST ISSUES YET? the power is now
magazine THE POWER IS NOW INC. Vol. 05 | Issue 8
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
EDITORIAL TEAM
Eric Lawrence Frazier MBA Editor in Chief (800) 401-8994 Ext. 703 Daniel Mungai Managing Editor (800) 401-8994 ext. 707 daniel.george@thepowerisnow.com Goldy Ponce Arratia Graphic Artist and Design Manager (800) 401-8994 ext. 711 goldy.ponce@thepowerisnow.com
CONTRIBUTORS The Power Is Now Research Team
The Power Is Now Magazine
October 2018
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HEADQUARTERS The Power Is Now Inc. 3739 6th Street Riverside, CA 92501 Ph: (800) 401-8994 | Fax: (800) 401-8994 info@thepowerisnow.com www.thepowerisnow.com www.thepinmagazine.com
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magazine STATEMENT OF COPYRIGHT: The PIN Magazine™ is owned and published electronically by The Power Is Now, Inc. Copyright 2013-2018 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. 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
online homebuyer’s seminar • Learn about the state of housing and the Wealth Gap • Learn about Zero Down Payment Home Loans on 1 to 4 units • Learn about Down Payment Assistance Programs with state, county and city • Learn about partnership strategies to buy your first home • Learn how to buy a 4 unit home as a first time home buyer Presented by: Eric Lawrence Frazier, MBA
CalBRE # 01143484 | NMLS # 461807 www.thepowerisnow.com eric.frazier@thepowerisnow.com Ph: 714-475-8629 | F: 800-261-1634
Join us live on Facebook: www.facebook.com/ThePowerIsNow/
on Tuesday Nights from 7:00 to 8:00 PM PST
the power is now
magazine
table of contents 12.
of ads targeting
October is National Hispanic
practices after allegations
Heritage Month
16.
discrimination
Home prices rise up 5.3%
in July projecting moderate growth
20.
that it enabled housing
46.
It’s a long way to being
over! HUD vows to continue Foreclosure rates have
changing Obama Fair Housing
increased in 44% of metro
Rule
areas
24.
Hilda Kennedy: About
50.
mortgage world as we know it
AMPAC Tristate CDC
28.
Freddie Mac announces the
largest SLST deals of 2018
30.
Fannie Mae and Freddie Mac
conclude expansion in single family rental market
38.
5 creative tips to winter-
proof your home
How robots are changing the
54.
What will Californians
Decide? Yes or No about Proposition 10
56. Andre Williams, III:
Artist, Entrepreneur and Real Estate Investor
60.
Two new propositions would
shake up the real estate
42.
Facebook cuts thousands
The Power Is Now Magazine
market in November 2018 October 2018
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JUMBO LOAN PROGRAM
It’s time for a really big deal! BENEFITS • Loans up to $2,000,000 with 700+ FICO • Very competitively priced jumbo mortgage rates • Significant price improvement for purchase money loans SPECIAL FEATURES • Qualify using primary wage earner’s middle credit score • Non-owner occupied investment properties OK • 100% gift funds for down payment & closing costs OK • Non-permanent resident aliens OK
Call me for details: ERIC LAWRENCE FRAZIER MBA CalDRE: 01143484 | NMLS 461807 The Power Is Now Inc. CA BRE: 1980407 | NMLS 1435243 Website: www.thepowerisnow.com
Email: eric.frazier@thepowerisnow.com Mobile: (714) 475-8629 Office: (800) 401-8994 ext. 703 Fax: (800) 401-8994
The Power Is Now Mortgage Services is a Mortgage Brokerage licensed by the State of California Department 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 Department 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.
Editor’s Letter
D
ear esteemed readers
I hope that you are having a prosperous October. Fall is finally here and I have to say that it is one of my favorite seasons. It represents a reflection of the old while welcoming the new. Here at The Power Is Now, we are looking to finishing out the rest of the year stronger and more vibrant. As we continue to grow, we want to remind you that we are committed to making sure that our growth is streamlined towards changing homebuyers into homeowners. There has been a lot going on and I am excited to share a few things with you. Did you know that starting September 15 to October 15th is the Hispanic Heritage Month? If you didn’t, now you know, so get out there and let’s celebrate the rich cultural diversity of our Hispanic brothers and sisters.
First Annual
Soulful Music and Food Festival
Event Sponsors: Little Red Hen Special Event and Catering Service
Bar and Grill DRINX 11 am - Closing Saturday, October 20, 2018 370 S. Main St., Lakeport, CA
Saturday, October 13, 2018 11:00 AM - Closing
Featuring music by
Andre Williams and Friends
Featuring music by: artisans and vendors wineries,Friends Localand Andre Williams Good Food, Good Wine, Good People, Good Time! with Special Guests Local wineries, artisans and vendors at April or LindaPeople, contact For more information, Good Wine, Good Food, Good The Power Is Now Real Estate Services 707-461-4271 Good Time! For more information, contact April or Linda at 707-461-4271 The Power Is Now Real Estate Services
In addition to that, in this month a couple of national events will be happening. First off, on Thursday, October 4th, the Fair Housing Council of Riverside County, Inc. will host its 16th Annual Champions for Justice Awards Banquet. Recipients will be recognized as people who have championed the causes of the poor, disabled, seniors, youths and individuals from various ethnic groups in our communities. These individuals have also made personal sacrifices so that justice will prevail. The 11th Annual Faith-Based Small Business Summit will be happening on Thursday, October 11th at the Riverside Convention Center. This year’s theme is “Business Fundamentals for your Business for your Non-Profit for your Church… For All.” The summit seeks to educate business people the ways of connecting faith and business and the various ways through which these connections provide winning results. Attending the summit will also allow you to meet and connect one-on-one with industry experts sharing success tools and capital access, sales, marketing, social media and business cash flows. More to that, you will get a chance to celebrate with the Connecting Faith & Business Award Winners. I am also excited to tell you that this year, we are sponsoring the First Annual Soulful Music and Food Festival happening at the Drinx Bar and Gril in Lakeport California on Saturday, October 13th. The event will feature music by the legendary Andre Williams and Friends. Come learn, connect and enjoy good food, good wine and good time!
The Power Is Now Magazine
October 2018
8
Lastly, the OC Realtist Fall Mixer 2018 is finally here. Join us on October 18th at the Craftsman, Anaheim and get a chance to meet and interact with our newly elected President Christina Kimble. Also, meet Black NOC President Donald Drake as well network with community leaders and business professionals. Lastly, you will learn more about the national Association of Real estate Brokers. If there is one thing you can be sure of is that all these events are one of a kind learning and networking experience on the real estate realm. Stay tuned to The Power Is Now Facebook Live Shows to learn more about these events happening this month. In this month’s issue of The Power Is Now Magazine, we take a keen look at the controversial issues such as the continued efforts by the HUD to disrupt harmony in the Fair Housing Rules effected as early as the 1960s. Also after being accused of allowing and aiding in housing discrimination, Facebook has taken a different approach to be ‘safe.’ We shine light on this and we will show you why Facebook cut thousands of ad targeting practices that could potentially put it on grill with Fair Housing Agencies. We have a lot in store for you this month not forgetting the nuts and bolts for real estate professionals. We hope that these stories will entice, educate and inform you of what is happening all around you. Lastly, October is the Breast Cancer Awareness Month. Please take time to do your part to support our amazing mothers. We are the cure by staying aware and doing our part from the sidelines. Thank you for your continued support and leadership. Our team is always dedicated to you. We want the best from you and therefore we are committed to bringing the best from us. Please take a moment to share this magazine. Knowledge is power and as always, The Power Is Now. Have a prosperous month.
Eric Lawrence Frazier, MBA CEO The Power Is Now Inc.
Access The Power Is Now, Inc, Anytime, Any Place
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NEW MARKETING SESSIONS
Your voice is your brand! Increase lead generation, and give you the POWER to close more deals!
Every Thursday 12:30 PM - 1:30 PM
Promote Your Listings Online
• Streamed live on Facebook, and are • These sessions provide real estate agents rebroadcast on BlogTalkRadio which is and brokers a powerful marketing syndicated to iTunes, TuneIn and many opportunity to access The Power Is Now other online radio platforms. During the Network of Agents nationwide and our show each agent and their listings are audience of prospective buyers and sellers featured for approximately five minutes that is 1 million strong and growing. to discuss why buyers should consider buying their listing(s). In addition, each agent will be given a post-show opportunity to launch a customized marketing campaign to get additional exposure.
ERIC LAWRENCE FRAZIER MBA CalDRE: 01143484 | NMLS 461807 The Power Is Now Inc. CalDRE: 1980407 | NMLS 1435243
Mobile: (714) 361-2105 Office: (800) 401-8994 ext. 703 Email: eric.frazier@thepowerisnow.com Website: www.thepowerisnow.com
FEATURED STORY
E
ach year, Americans observe and celebrate the National Hispanic Heritage Month from September 15 to October 15 by celebrating the diverse histories, the cultures and the contribution of the Americans citizens whose ancestors from Spain, Mexico, the Caribbean, the Central and the South America. The Hispanic Heritage Month goes way back to as early as 1968 under President Lyndon Johnson. The celebration were expanded by the president Ronald Reagan in 1988 to cover a 30-day period starting from September 15 and ending on October 15. On august 17, 1988, the Hispanic Heritage Month was enacted into law, on the approval of public law 100402. But you may wonder, why September 15? Well, September 15 is a significant month as far the independence of the Latin American countries is concerned. Most of the Latin American countries like Costa
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Hispanic Heritage Month Rica, El Salvador, Guatemala, Honduras and Nicaragua all share September 15th as the anniversary day for their independence. Mexico, and Chile celebrate their independence days on September 16 and 18 respectively. Also Columbus Day or the Dia de la Raza which is observed on October 12 falls under the 30 day period. The celebrations are upon us and the purpose is to recognize the efforts and the contributions and the vital presence of the Hispanic and Latin Americans in the United States. For most Latin American families, celebrating the month is not particularly difficult. Usually, the celebrations are seen to permeate into the Latino lifestyle and gets embedded in the culture’s psyche. It is a chance that the Latino community gets to delve deeper into the rich histories of their ancestors and the diverse contributions to the United States.
October 2018
Numerous research indicate that Latino teens who grow up informed about their histories and are proud of their own culture are much more likely to develop “good behaviors” than the teens who grew up knowing nothing about their histories. Also, the reports indicated that these teens were far less likely to develop problems to do with behavioral difficulties. In the same way learning about the culture of the society, say learning about George Washington, one of the founding fathers of American, instills prides in children, learning about the different contributions of the Latino ancestors actually increases Latino children’s patriotism. It is important that the Latin American children be able to put a face and see their own reflections in the history of the Americans as it creates a connection between the past and the future.
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Helping Families Make the Right Move!
Danon Burnside Cal DRE # 01835853
Real estate Agent
Realtor | San Bernardino O: (800) 401-8994 x 724 D: (951) 205-5796 danon.burnside@thepowerisnow.com www.thepowerisnow.com www.applytobuynow.com
WANT TO BUY OR SELL?
IF YOU WANT A REALTOR WHO WILL GO ABOVE AND BEYOND FOR YOU WHETHER YOU’RE A BUYER OR SELLER LOOK NO FURTHER. I WORK HARD SO YOU DON’T HAVE TO!
Alexandra Trefry
REALTOR BRE # 01987453 (800) 401-8994 x 753 (707) 494-2028 alexandra.trefry@thepowerisnow.com
w w w . t h e p o w e r i s no w . c o m
IN REAL ESTATE
Home prices rise up 5.3% in July projecting moderate growth
T
he lack of affordable homes has plagued the US real estate well market over the las few years, especially in California. It is for known that in the Golden State has been become infamous ed by the its home prices. San Francisco for instance is the most affect counties like house price crisis. With a massive inflow of millennials to to support San Francisco, affordability and availability of housing units up. As recent the large numbers isn’t enough, making home prices shoot with prices as April 2018 homes in the city reached an all-time high construction soaring above the $1.5 million . Fast forward to July, new prices might has already began which points out that rents and home moderate more just stabilize. New trends indicate a slow transition to prices. slackened The speed in which the home prices increase rate has n2. When all across the nation according to the latest data by RedFi currently, compared by data from 2017, the prices have only risen 5.3% and st growth the median home prices sits at $307,400, indicating the slowe h rate has rate since September 2016. In fact, the home price growt
The Power Is Now Magazine
October 2018
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declined over the last five months suggesting a transition to moderate growth. There might be several reasons behind this trend. Over the past few months, the tension there was in the housing market dues to a tight suppl y may have loosen up. In July 2018, inventories only dropped 5.4% across the US. It is the third consecutive month in which home inventories experience 5 percent drop after 19 successive months when supplies dwindle by 7%. However, most homes are still selling at a record pace indicating a seller ’s market. According to Trulia , homes sold in April 2018 stayed on the market for an avera ge of 66 days, almost 10 days fewer than last year. The time becomes even shorter in the West Coast where homes sold in less than 45 days. Despite this situation, it seems that competition is slowing down. Compared to July 2017, homes sold over the asking prices decreased to 26.2%. In fact, Redfin measured that 28% of homes underwent a price drop, the largest drop since 2009. This might be due to more homes hitting the market. Cities such as San Jose, California, saw its inventory increase by twenty-eight percent, while Portland, Oregon experienced a 21.8% rise and Seattle a 27%. It also seems that buyers
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have become warier of making fast purch ases compared to last year. In these regions, homes remained on the market longer than the previous year. Homes in Portland lasted a full week longer before being sold compared to July 2017. Meanwhile homes stayed a day longer in San Jose and two days in Seattle. As Redfin senior economist, Taylor Marr, pointed out, these trends might be a sign of a return to “a healthier, more balanced market.” While these tendencies show a significant change compared to previous months. Yet, the market is still far from to be favorable to homebuyers. As recent as May 5, 2018 a home sold in San Francisco for $1.6 million over the asking price. The 140 year–old five-bedroom Victorian property was originally listed for $7.995 million and sold for $9.6 million after being in the market for 9 days. Nevertheless, declines in home sales and rising inventory needs to be watched carefully to predict any downswing in the market
Sources: https://www.mansionglobal.com/articles/96271-houseprices-soaring-in-san-francisco https://www.trulia.com/research/list-to-sale-spring18/
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MOVING ON TO YOUR IDEAL PROPERTY?
CALL ME ! U O Y P L E H N I CA NICOLE BURNS Realtor BRE # 01359705 Office: 800-401-8994 x 712 Direct: 323-385-8940 Email: nicole.burns@thepowerisnow.com Website: www.thepowerisnow.com
IN REAL ESTATE
T
he US economy has never been better. It has finally overcome the aftermath of the financial crisis and is now in full throttle. Unemployment is about to reach historic lows with a 3.9% rate, a number not seen since the 1960’s. This has contributed greatly to the economy, which according to Kevin Hassett, chairman of the White House Council of Economic Advisers, will experience a 3.5% growth during the third quarter of 2018 . A number a lot closer to the Atlanta Federal Reserve’s calculation of 4.1% annual growth Yet, despite these great numbers an upturn in the foreclose rate raises concern over the housing market. A recent study published in July 2018 by ATTOM Data Solutions, showed that the foreclosure rate sprang up to 44% in metro areas compared to last year. The Data collected over 2,200 counties, represent 90 percent of the US population and it was compiled by taking into account any foreclosure filings entered monthly in the ATTOM Data Warehouse.
Foreclosure Rates have increased in 44% of metro areas
The ATTOM Data Solutions U.S. Foreclosure Market Report took into account any Notice of Default (NOD), Lis Pendens, auctions and owned real estate property repurchased by banks to make its calculation. The data showed that 96 of the 219 metropolitan statistical areas experienced an upturn in foreclosures. The state with the biggest increase was Florida, which saw a spike up 35 percent. Other states include California (3%), Texas (7 %), Illinois (7%) and Ohio (2%). Among the metro areas with over 200,000 people, the highest rates on board were Atlantic City, New Jersey in which one in every 448 homes filed for foreclosure. Other cities that landed in the top five of list were Peoria, Illinois, Fayetteville, North Carolina, Trenton, New Jersey and Philadelphia, Philadelphia. The list also included Los Angeles with a 20 percent year-over a year increase, Houston, TX (76%), Miami, FL (29%) and San Francisco with a 10 percent increase. Daren Blomquist, senior vice president ATTOM Data Solutions, warned that the data should not be taken lightly. He explained that July 2018 marked the third consecutive month with rising foreclosures. In his view, loose lending practices are behind the trend, as more risky
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loans have been approved than in the past. This in turn affects the less affordable markets and those prone to natural disasters. “Most susceptible to rising foreclosure starts are affordability-challenged markets where homebuyers are more financially stretched and markets with some type of trigger event such as a natural disaster or large-scale layoffs.� While foreclosures rates are not at dangerous levels yet, it is important to keep an eye on this trend and see if it might be a sign of a new housing bubble. Especially when considering that the USA has finally overcome the Great Recession. For most people buying a home represents the largest investment they will make in their life. So the question remains that if the economy is growing and more jobs are being created, what is causing these numbers to increase?
Resources https://www.marketwatch.com/story/the-rampaging-useconomy-is-pushing-unemployment-to-lowest-level-since1960s-2018-09-01 https://www.foxbusiness.com/economy/us-gdp-growthexpected-to-reach-3-5-in-3q-kevin-hassett https://www.frbatlanta.org/-/media/documents/cqer/ researchcq/gdpnow/RealGDPTrackingSlides.pdf
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BUYING OR SELLING? MEET YOUR NEW REAL ESTATE NEIGHBOR! Lanise’s knowledge of the ever-changing real estate market and its technology will provide you with an enjoyable and hassle-free real estate process. She is committed to continuing to build her record of quality service and establish an honest, long-term relationship with each one of her clients.
LANISE SPANN Realtor DRE # 01800507 Office: (800) 401-8994 x 713 Direct: (707) 297-0398 Email: lanise.spann@thepowerisnow.com
?
STILL
LOOKING LET ME HELP YOU
BUY OR SELL!
SYLVIA YOUNG BROKER DRE # 01039092 O: (800) 401-8994 X 734 | D: (510) 821-2599 SYLVIA.YOUNG@THEPOWERISNOW.COM WWW.THEPOWERISNOW.COM
Hilda Kenn
ABOUT AMPAC TRISTATE
I
f you are a small business owner or an entrepreneur, you probably have heard about Ampac tristate CDC. And chances are, you have met Hilda Kennedy, even if not in person! Ampac is a non-profit certified lender of the U.S. Small Business Administration (SBA) on a mission to finance the growth of small businesses through personalized services and advocacy in utilizing SBA resources. In seven years, AMPAC has funded over 135 businesses with greater than $200 million in loans, creating more than 1500 new jobs throughout the state of California. “Our Vision is to say YES to promising business owners at all stages of growth and to give second chances when others wish they could” In fact, if you look at the statistics closely, you will realize that AMPAC has helped so many businesses hit the ground running making it a ‘business champion’ in the county. AMPAC, remains determined about financing and fostering the success of business at all the stages of growth to positively
The Power Is Now Magazine
October 2018
impact the region, the state and the nation for economic development and job creation. If you look at the success of AMPAC and the impact it has on the county, you have to wonder, who is the brain behind AMPAC? Well, a woman of power is! Hilda Kennedy.
Who is Hilda Kennedy? Hilda Kennedy is nothing short of a genius! Hilda is the Founder & President of AMPAC Tri State Certified Development Company (CDC) in Grand Terrace, California. AmPac is the SBA’s first faith based certified lender in the country. AmPac Tri State CDC is a member of the National Association of Development Companies (NADCO), a Board Member of the Risk Management Association – Inland Empire Chapter, Past President, National Association of Women Business Owners – CA – Public Policy Director; National Association of Women Business Owners – inland Empire, and has strong relationship with a number of banks , investors and non-traditional lenders.
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nedy
E CDC
ON THE COVER: HILDA KENNEDY
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But how did Hilda get invol ved in REAL 504 Lending? Hilda was involved in the community development on local government level. She worked as Economic Development Director in the City of Inglewood – an underserved community in Los Angeles County. “The number one reason business owners come to our offices is to find capital resources for their businesses since they could not access traditional capital from the neighboring banks.” As an Economic Development Director, Hilda used HUD programs to create direct loan programs which promoted job creation and retention, however, the funds were limited. When Hilda left the city, she wanted to engage the SBA program to create direct lending opportunities in underserved communities and utilize the faith-based community as a marketing area to engage such businesses.
Ms. Kennedys’ Educational background Ms. Kennedy graduated from the University of California at Berkeley with a degree in Psychology and completed a post-graduate fellowship with Coro Foundation in New York City, New York. Kennedy and her Coro Foundation completed a study for D.C staffers on how the U.S can provide quality, affordable health care to all Americans.
How does CDC pursue its economic development goals?
The Power Is Now Magazine
October 2018
Ampac pursues its economic development goals as a member of local Chambers of Commerce, as well as ethnic chambers of commerce. It also engages in faith based lenders and work within the faith-based network parameters. The company also actively involved in community boards and community groups.
Invol vement in the local government Ms. Kennedy spent twelve years working in the local government and community lending. As the Director of Economic and Business Development for the City of Inglewood, Ms. Kennedy established and implemented a $45 million loan fund with funds from Federal home Loan Bank of San Francisco member banks. During her tenure in Inglewood, she also served as the chief of Staff to the Staff to the Mayor of the Inglewood and the City Administrator; and as the City’s Public Information Officer where she was involved in coordinating Citywide events.
Recognition Ms. Kennedy was named Woman of the Year by Senator Gloria Negrete McLeod, was elected as Women in Business Champion by the U.S. Small Business Administration, served on the U.S Small Business Administration council on Underserved communities; received the NAWBO ANITA; and has been recognized by countless other organizations.
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MOVING ON TO YOUR IDEAL PROPERTY?
CALL ME I CAN HELP YOU! TIANA OWENS Realtor CalDRE # 01998032 Office: (800) 401-8994 x 704 Direct: (949) 393-8020 Email: tiana.owens@thepowerisnow.com Website: www.thepowerisnow.com
IN MORTGAGE
INSIGHTS • $1.45 Billion Trust transaction follows a successful first Seasoned Loans Structured Transaction trust execution. • This will be the 5th largest Seasoned Loans Structured Transactions since its launch in 2016. • The transaction marks the 2nd time a Freddie Mac – created trust will be issue of the SLST securitization.
FREDDIE MAC ANNOUNCES the largest SLST deals of 2018
L
ast month, Freddie mac announced an approximate $1.45 Billion seasoned Loans Structured Transaction of a pool of seasoned re-performing loans. Since its launch in 2016, this issue marks the fifth largest SLST and the largest issue in 2018. This issue marks a significant milestone for Freddie Mac as it represents the second time a Freddie Mac - created trust will be the issuer of the SLST securitization. The SLST program is a key part of the Freddie Mac’s seasoned offering to reduce less liquid assets in the mortgage related investments portfolio and shed credit and market risks through the economically reasonable transactions. The seasoned re-performing loans pool is primarily comprised of the loans that were modified to assist the borrowers who are at a high risk of
The Power Is Now Magazine
October 2018
foreclosure to help them keep their homes. The pool is mainly comprised of the re-performing loans and the moderately delinquent loans. The transaction will comprise a two-step process with the initial step involving the auction of the right to purchase the subordinate non-guarantee certificates through a competitive bidding process subject to the terms set forth in a securitization term sheet. The winning bidder will have chosen on the basis of economics, subject to meeting Freddie Mac’s internal reserve level. The second step that Freddie Mac recommends is to create a Freddie Mac trust that will securitize the loans and issue both the senior and the subordinate certificates. The agency will guarantee and may initially retain
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THE POWER IS NOW LIVE EVENTS
HOMEBUYER SEMINARS
the guaranteed security issued from such securitization. The winner of the auction will purchase the subordinate certificate at closing. Citigroup Global Markets Inc, Wells Fargo Securities, LLC and Samuel A Ramirez & Company, Inc. a minority owned business serve as the main advisors to Freddie Mac on this transactions. To this very date, Freddie Mac has sold $7 billion of the non-performing loans and transacted $43 billion of the RPLs consisting of (i) $27 billion via fully guaranteed PCs (ii) $14 billion via SCRT senior/sub securitizations and (iii) $2 billion via Seasoned Loan Structured Transaction offerings.
Are you on the path to homeownership? Learn all about our Homebuyer programs at our monthly seminars! • Learn about the Housing Crisis in California • Learn about the Wealth Gap for Minorities • Learn about State of California Housing Finance Agency Programs • Learn about Zero Down Payment Programs • Learn about buying land & building a home with zero to low down payment Government financing • Learn how to buy a 4 unit apartment building as a first time home buyer • Learn about partnership strategies to buy your first home with friends and family • Learn about special financing programs for teachers and HUD Home for Sale
Sources http://www.freddiemac.com/seasonedloanofferings/ docs/rpl_sales_guidelines_factsheets.pdf http://www.klkntv.com/story/38940232/freddie-macannounces-largest-slst-deal-of-2018
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Linda Larson Cal BRE # 01183012
Real estate Agent
Realtor | Clearlake O: 800-401-8994 x 7202 D: 707-257-1288 danon.burnside@thepowerisnow.com www.thepowerisnow.com www.applytobuynow.com
UPCOMING EVENTS
October FIRST ANNUAL SOULFUL MUSIC AND FOOD FESTIVAL SATURDAY, OCTOBER 13 11:00 AM TO CLOSING DRINX Bar and Grill 370 S. Main St., Lakeport, CA Click here for details
First Annual
Soulful Music and Food Festival
Event Sponsors: Little Red Hen Special Event and Catering Service
DRINX Bar and Grill Saturday, October 20, 2018 11 am - Closing 370 S. Main St., Lakeport, CA
Saturday, October 13, 2018 11:00 AM - Closing
Featuring music by
Andre Williams and Friends
Featuring music by: Localand wineries,Friends artisans and vendors Andre Williams with Special Guests Good Food, Good Wine, Good People, Good Time!
OC REALTIST FALL MIXER 2018 THURSDAY, OCTOBER 18 6:00 PM - 8:40 PM The Craftsman 5645 La Palma Ave #170 Anaheim Ca 92807 Click here for more details
Local wineries, artisans and vendors For more information, contact April or LindaPeople, at Good Food, Good Wine, Good The Power Is Now Real Estate Services 707-461-4271 Good Time!
For more information, contact April or Linda at 707-461-4271 The Power Is Now Real Estate Services
REALTOR SEMINAR PACIFIC WEST ASSOCIATION OF REATORS WEDNESDAY, OCTOBER 24 8:30 AM - 1:00 PM 5000 E. Spring st suite #110 Long Beach Ca 90815 Click here to register THE POWER LUNCH EVERY TUESDAY LIVE ON FACEBOOK 12:30 PM TO 1:00 PM https://www.facebook.com/thepowerisnow
FACEBOOK LIVE HOMEBUYER SEMINAR EVERY TUESDAY LIVE ON FACEBOOK 7:00 PM TO 8:00 PM https://www.facebook.com/thepowerisnow
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IN MORTGAGE
Fannie Mae and Freddie Mac conclude expansion in
SINGLE FAMILY RENTAL MARKET
M
id last year was a happy moment for the investors in the rental market as Freddie Mac announced its gearing up to enter the rental market. Though taking a different approach from what Fannie Mae had taken, Freddie Mac was determine to focus on affordable housing. Earlier during the year, Fannie Mae entered in an agreement to backstop up to $1 billion in debt for the Invitation Homes, the largest owner of the single-family rental homes in the U.S.
putting an end to their single-family rental pilot programs which would mean ceasing their activities on the single-family rental market, outside of their previously existing small investors program – Fannie Mae’s Multiple Financed Properties and Freddie Mac’s Investment Property Mortgages. FHFA has concluded that the market is able to run steadily without the assistance of the GSEs, however, the institution would still retain their previous investor programs such as the Fannie Mae’s Multiple Financed Properties and Over the last year, Fannie Mae and Freddie Mac’s Investment Property Freddie Mac have both made ma jor Mortgages. steps to expand their presence in the single-family rental market, these According to FHFA, GSEs expansion efforts were largely visible as the into the single-family rentals was government-sponsored institution conducted on a “test and learn” made aggressive funding to the single- basis designed to determine if GES family rental investment for the larger were needed to support the growing players in the market. However, there single family markets. According to are speculations that the “backing-up” an analysis made by FHFA, it was by these government institution may concluded that at least the single come to a speedy end even before family market could function without they progress further. the government assistance. On August last month, the Federal “What we learned as a result of the Housing Finance Agency announced pilots is that the larger single-family that Fannie and Freddie will be both rental investor market continues to
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October 2018
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perform successfully without the liquidity provided by the Enterprises,” FHFA Director Mel Watt said in a statement. Making the announcement, FHFA noted that much of the Single family rental markets are still controlled by ‘small’ investors. These investors own between 1 and 50 properties despite the recent growth of some massive operators in the market. Since its expansion, the GSEs programs have since been met with pushback from other market participants. Many investors agree with this decision – less intervention. Some investors in the single-family market believe that large-scale financing in the market was only compounding existing inventory shortages and affordability. In addition, selfregulation of the rental market without much governmental intervention was best for the growth of the SFRs.
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Between years 2006 and 2017, more than 5.4 million single family homes became available for renting. Homeownership rates declined by about 5% points furthering the appeal of the SFR market for the savvy investors. Earlier on, SFRs had been primarily owned and operated by the small investors. FHFA does not clearly state if the GSEs could be prevented from proposing changes to their existing programs that would meet the needs of the SFRs or from developing proposals that are designed to utilize the SFRS as a pathway to homeownership. The exit decision was well welcomed by the Community Home Lenders Association; “The Community Home Lenders Association is pleased that FHFA has concluded that GSE financing of large-scale single-family rental portfolios should be ended,” Scott Olson, CHLA’s
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executive director, said in a statement. “Fannie Mae and Freddie Mac can now go back to focusing on smaller investor loans for affordable single family rental properties.”
The National Association of Realtors also cheered the decision. With inventory shortages facing housing markets across the country, the National Association of Realtors has long advocated for the FHFA to end its expansion into the single-family rental market and return its focus to promoting a liquid and efficient housing market, as Congress intended,” NAR President Elizabeth Mendenhall said in a statement.
Source: https://www.fhfa.gov/Media/PublicAffairs/Pa ges/ Fannie-Mae-and-Freddie-Mac-to-Conclude-SingleFamily-Rental-Pilot-Programs.aspx
The Power Is Now Online Events Every Tuesday at 12:30 PM and 7:00 PM, along with every Thursday at 12:30 PM, we are live on Youtube! We educate our friends and followers about all of the latest mortgage programs, interview industry leaders and professionals, and give agents an opportunity to showcase their listings on our platform.
https://www.housingwire.com/articles/42288-freddiemac-completes-first-single-family-rental-financing http://www.nawrb.com/fannie-mae-freddie-macconclude-expansion-in-single-family-rental-market/
See the weekly topics at: thepowerisnow.com/events/
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October 2018
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Loans To Fit
Your Life
A mortgage property tailored to your needs becomes an instrument that enables a whole new life. That’s why we offer a wide array of loan products to fit individual borrower situations, including first-time homebuyers, military families, and rural homebuyers. We also offer national programs for doctors and dentists, and many state housing programs.
Our Loan Programs Include: FHA:
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Credit scores as low as 610 Debt-to-income as high as 49.99% Loan amounts as low as $100K and up to $3M Up to 95% loan-to-value Interest-only options
ERIC LAWRENCE FRAZIER MBA CalDRE: 01143484 | NMLS 461807 The Power Is Now Inc. CalDRE: 1980407 | NMLS 1435243 Phone: (800) 401-8994 ext. 703 Website: Direct: (714) 475-8629 eric.frazier@thepowerisnow.com www.thepowerisnow.com The Power Is Now Mortgage Services is a Mortgage Brokerage licensed by the State of California Department 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 Department 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.
IN YOU
5
Creative Tips to Winter-Proof Your Home
Seal Off Empty Rooms
First, you ought to seal off any rooms that you may not be using at the moment. Vacant rooms tend to invite more cold air because of the open, empty space. You have to make sure that the corners of the vacant rooms are covered so as to keep the heat inside the house.
The Power Is Now Magazine
October 2018
F
all is here. Days are shortening, and temperatures are dropping. Before long, many people will be firing up their furnaces for the first time in months and preparing for the winter ahead. However, where do you begin after months of glorious sunny days?. Fortunately, we have some tips that can help you get creative when it comes to preparing your home for the upcoming winter months. Interested to learn more? Just continue reading to find out some effective home care tips for winter.
Install Weather Strips
Secondly you have to make sure that your door frames and windowsills remain insulated as well. You can do this by having weather strips installed around the door and window edges. This will keep the heat from getting out and being replaced by cold air. Having the weather strips is an important measure especially if you’d like to conserve energy. Weather strips reduces the chances of using the heater thus cutting the electricity bills significantly. In addition, weather strips can help you solve air flow problem in the long run.
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Keep your air vents and baseboard heaters clean at all times. To clean your air vents, you have to wipe down the external part of the compartments to prevent dust from accumulating in the area. Do not be afraid to open up the air vents as well to clean up the insides. The same goes for baseboard heaters. A simple wipe down and internal brushing will do the trick.
Invest in an Automatic Thermostat As a homeowner, it would also be good to invest in a programmable thermostat. This way, you will be able to control the temperature within a room especially during winter months. Ideally, you should lower the temperature of your room when it is empty or not in use. You can also do this when you’re asleep. Doing this at specific times during the day is advisable. For example, lower the temperature every morning (8:00 AM to 3:00 PM) to let the cold air circulate properly inside the house. The good thing about a programmable thermostat is that once you are able to set it properly, the machine will be able to adjust itself automatically afterwards. This will prove to be useful if you’re too busy with work to adjust the thermostat manually all the time. Additionally, it is recommended that you maintain indoor temperature at 55° to ensure warmth during the winter months. www.thepinmagazine.com
Adjust the Position of the Ceiling Fan Blades Lastly, you also have to change the direction of the air flow from the ceiling fan. You can do this by flipping the built in switch in modern ceiling fans so that the blades would be pointing downwards. This way, you can keep the warm air well circulated for an extended period of time, relieving stress from the baseboard heaters on the floor.
Conclusion With these 5 simple tips, you will certainly deal with the cold winter weather head on without any additional fears or worries down the line. It will give you the opportunity to have warm nights even if you don’t have a furnace or fireplace in your home. The key is to ensure insulation in your house. You should not let the heat get out as soon as you get the heater and thermostat working. After this, everything will go smooth in terms of the internal property temperature for sure.
References: http://www.styleathome.com/how-to/renovations/article/ prepare-your-home-for-winter https://www.active.com/fitness/articles/11-creative-waysto-get-your-steps-in?page=1 https://www.wikihow.com/Prepare-Your-Home-for-Autumn https://www.kiplinger.com/slideshow/real-estate/T029S001-12-ways-to-prepare-your-home-for-winter/index. html
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Please call for more details: ERIC LAWRENCE FRAZIER, MBA President & CEO Direct: (714) 475-8629 Office: (800) 401-8994 ext. 701 eric.frazier@thepowerisnow.com www.thepowerisnow.com 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.
IN LEGAL
Facebook cuts thousands of ads targeting practices after allegations that it enabled
HOUSING DISCRIMINATION
T
he struggle between HUD and Facebook started long ago with the recent ignominy Facebook endured is being accused of allowing housing discrimination. HUD alleges that the social media goliath makes it easier for marketers to discriminate. According to HUD, Facebook allows landlords and property owners to discriminate against the prospective renters and buyers on their race, color, origin, religion, sex, family status, national origin, disability or other factors. The investigations had been underway long enough for HUD to officially file a housing discrimination complaint against Facebook. HUD alleged that Facebook allows advertisers to purposefully exclude some people from seeing housing ads based on a number of factors, which violates the Fair Housing Act. Facebook hasn’t taken the allegations lightly and recently, Facebook cut thousands of ads targeting practices. In the wake of the accusations, Facebook is making some changes to its advertising policies to remove thousands of targeting options which in one way or the other may have been used to engage in discriminatory practices. Responding to the allegations, Facebook stated that it has no place for
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October 2018
discriminatory practices on its platform. It further claimed that it had plans to both respond in the courts and continue working with HUD to address its concerns on the issue. However, as evidently seen, Facebook is doing more than what we’d expect. In the last week of August, Facebook announced of removing more than 5000 ad target options to help prevent the misuse of the platform. That’s not all, the company also announced that all the U.S. advertisers would be required to comply with the company’s non-discriminatory policy in order to advertise on Facebook. This shift eliminates the ability to direct Facebook ads at people based on factors that would allow discrimination.
“While these options have been used in legitimate ways to reach people interested in a certain product or service, we think minimizing the risk of abuse is more important,” the leading online social network said in an online post. 40
Some of the options removed entailed removing options which include limiting the ability for the advertisers to exclude audiences that related to attributes such as ethnicity or religion. But are the measures taken by Facebook tight enough? Ma jority of the targeting options being removed are just exclusions that allow advertisers to select a certain audience preference that they do not want seeing their advertisement. As noted, Facebook would require advertisers to comply with the non-discriminatory policy. Previously, the compliance certification was required only of the people posting housing, employment or credit ads. The certification is aimed at educating the advertisers of the difference between acceptable ad targeting and ad discrimination. Facebook intends to expand the measure to more countries but has not provided any actionable timeline and has since then insisted that the move was not a reaction to the HUD complaint.
“No, we’ve been building these tools for a long time and collecting input from different outside groups,� a Facebook spokesman said of the notion. Facebook prohibits any discrimination and for the last year, the social media giant has strengthened its systems to protect against advertisers misusing the targeting options.
Sources http://www.latimes.com/business/la-fi-tn-facebookdiscrimination-20180817-story.html# https://phys.org/news/2018-08-facebook-ad-target-optionsthwart-discrimination.html https://www.housingwire.com/articles/46551-facebook-cutsthousands-of-ad-targeting-options-after-huds-housingdiscrimination-allegation
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IN LEGAL
Here is a twist everyone should know
It’s a long way to being over! HUD vows to continue changing
Obama Fair housing Rule
T
he trump administration has and is attempting to scale back the federal efforts to enforce the Fair Housing laws, freezing the enforcement actions against the county government and business, including Facebook, while sidelining the officials who have aggressively pursued the civil rights cases. So far, a lot of amendment has been made to the laws by the preceding government and this time, HUD secretary’s new attempt is to roll back an Obama-era fair-housing rule has him striding big against the exclusionary zoning. With this, it means that another or the same fair housing rule could be heading back to the drawing board. The question is, how far is the Trump’s administration willing to go in the name of protecting the citizen? Because as far an ordinary citizen can tell, this are just attempts to potentially revoke the federal policies enacted to protect the U.S. Citizen against race and discrimination in housing.
The Power Is Now Magazine
October 2018
Mid last month, the U.S. Department of Housing and Urban Development announced that changes in the Fair Housing Laws were meant to ‘streamline and enhance’ an Obama Era rule on housing desegregation. Changes to a rule that earlier on HUD secretary Ben Carson was quoted describing it as ‘social engineering’ let’s roll back and analyze the situation, does this sound familiar, yes you are right on track!: this is the third time that the agency is pestering on the same rule. What’s interesting is the fact that HUD is taking a figurative framework for rolling back on the desegregation policy. Carson’s agency is pitching that the rule change as a way to fend off NIMBYism. Carson, is exploiting his power of the purse to sell off his exclusionary zoning and build up to address the issue of housing affordability. As always, critics have come up but this time, even those who may applaud the decision and efforts to undercut the restrictive zoning rules which makes the multi-family housing very difficult to build in many places, are now questioning HUD’s motives. Interestingly, even some republicans may take an exception to Carson’s plans that aim at changing how the rule works. The Affirmatively Furthering Fair Housing is a plank of the Federal Housing Act of 1968 which requires the jurisdictions receiving HUD’s funding to do more than just prohibiting discrimination. The law requires that any city, county, or state that receives the federal housing funds must work to actively undo the patterns of racial segregation to affirmatively further the goal. For 50 years3, the law has been operational, which raises questions why wait until now for HUD to formally spell out the compliance would look like until 2015. 44
New rules on the AFFH could spike a policy change in ways large and small and possibly unrelated to the core issue of racial segregation. The advance notice of the proposed rulemaking4 calls for public comments on the changes to minimize regulatory burden, advance local control over the process and “encourage actions that increase housing choice, including through greater housing supply.” In a years’ time alone, HUD has taken a whack at the AFFH now for the third time. First time was in January, where the department had to postpone the deadline for the local government to comply5 with the rule thus bringing the fair housing assessment to a halt. Months later, to be exact, 4 months, HUD scrapped one of the tools which the municipalities were supposed to use in completion of the assessment. HUD’s continuation to push back against the Obama-era rule has drawn a blistering response from the housing advocates. HUD has been condemned so far by more than 75 different national affordable housing civil rights organization for delays back in January. Fast
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forward to May, several advocate groups came together to file a lawsuit against Carson and HUD. So, we ask again how far is HUD willing to go to change the hope for many Americans. We’ll just have to wait and see!
Sources; https://wamu.org/story/18/08/13/ben-carson-movesforward-with-push-to-change-fair-housing-rule/ http://spectrumlocalnews.com/tx/austin/news/2018/08/14/ hud-proposes-new-changes-to-obama-era-fair-housingrulehttps://www.nytimes.com/2018/03/28/us/ben-carson-hudfair-housing-discrimination.html https://www.citylab.com/equity/2018/08/ben-carsonsnew-argument-against-fair-housing-rules-its-aboutnimbys/567449/
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Ready to buy or sell?
Let me help you! LEON TOWNSEND III MBA, Green and Notary Public DRE # 01979416 Phone: (800) 401-8994 x 733 Direct: (626) 372-9374 Email: leon.townsend@thepowerisnow.com Website: www.thepowerisnow.com
IN TECHNOLOGY
How Robots Are Changing The Mortgage World As We Know It
R
obotics has been one of the most prominent advancements that technology has given us in recent years. While this may be fascinating for most, especially those who are interested in information technology, some old school individuals and even modern folk can’t help but wonder if this will spell the end for the human work force very soon. With the rise of robot workers in coffee shops and various restaurants as well as other establishments all around the world, the human work force has taken a significant decrease over the past 50 years.
Predictions Regarding Technology in the Work Force Andy Haldane, chief economist at the bank of England, had made a prediction that by November, 2015 about 15,000,000 jobs in the UK alone will be impacted by automation in the negative sense. Some bankers and business executives agreed with this prediction. Furthermore, according to the World Bank president, Jim Yong Kim the work force in China and the rest of the Asia Pacific region might also be affected by the rise of the machines and robots to be specific. Statistically, he also predicted that roughly 60
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to 80% of the workforce will be displaced in this region. This is all according to their 20162017 data. These predictions were further supported by an Oxford University Study on current technological trends that may affect the future employment. Conducted in 2013, it was predicted through the completed findings in this study that about 47% of the U.S. work force will dwindle because of automation.
The Technological Invasion In addition to this, further research such as those found in the 2014 Future of Jobs Study from the World Economic Forum have yielded results that show technology successfully permeating society and the workforce in general by the year 2025. As a result, the presence of these advancements will revolutionize certain aspects of the economy and industry as follows: •
Health Care
•
Education
•
Transport
•
Logistics
•
Home Maintenance
•
Customer Service
However, experts have countered that the same thing happened during the Industrial Revolution. This was where Manual labor was replaced by more advanced machines at the time. This resulted to decreased work hours, yes, but also it created a demand for a new crop of workers that could handle the machines themselves.
New Work Opportunities with Technology In the same vein, there would also be a demand for people with technical knowledge so as to handle the new and more modern machines of contemporary America and the world. This is why most experts still think that while automation would be the game-changer when it comes to working in general, it will not adversely affect the very definition and core of the labor force. Here are some examples of possible work opportunities in the technological field:
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• Information Technology Experts • Technical Support Personnel • Machine and Robotics Operators • Medical Technicians • Computer Science Experts and Analysts Aside from those already mentioned homebased business and labor opportunities also come into play because of the improvements in technology as a whole. This is why the positive advantages of technology and robotics can never be dismissed as completely pervasive. These new job opportunities could only be afforded by the technological industry as a whole if and when it continues to flourish in the years to come. This is also the reason why most experts still remain optimistic regarding automation and how it affects the modern workforce. Ultimately, technology aims to help humans rediscover who they are and what else they can do apart from what they already know. The value of labor and work and its improvement thereof still depend upon the human resource. This is because nothing beats the human intellect when it comes to evolution for sure.
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October 2018
Final Words It would be good to welcome the evolution of technology as part of the ever changing landscape of the world in terms of labor and work. By doing this, fear of technology among various sectors of the society will surely diminish down the line. What is important is that people realize that technology can only go so far. Humans are still and forever will be necessary in their workforce because they are the only ones who would be able to understand the nuances of human interaction which could affect overall product outputs in the long run.
References: https://www.bankofengland.co.uk/about/people/andyhaldane/biography http://blogs.worldbank.org/team/jim-yong-kim https://data.worldbank.org/indicator/SL.EMP.TOTL. SP.ZS?view=chart https://www.oxfordmartin.ox.ac.uk/downloads/academic/ The_Future_of_Employment.pdf http://www3.weforum.org/docs/WEF_Future_of_Jobs.pdf https://www.theguardian.com/science/politicalscience/2017/oct/01/will-robots-bring-abouttheend-of-work https://www.businessinsider.com/hereshow-robots-could-change-the-worldby-2025-2014-8 https://www.mckinsey.com/featuredinsights/employment-and-growth/ technology-jobs-and-the-futureof-work https://www.indeed.com/qTechnologyjobs.html
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Robin Davis Realtor | CalDRE # 01971982
Phone: (800) 401-8994 x 706 Direct: (925) 565-4848 robin.davis@thepowerisnow.com www.thepowerisnow.com
IN COMMUNITY
What will Californians Decide? Yes or No about Proposition 10 According to Economist the renewed push for an expansion of rent control comes at a time of fierce debate over the future of California’s biggest cities, where housing is in short supply and rents have been rocketing.
A
ccording to Trulia, a property-rental and sales platform, median rents in Oakland grew by 51% between 2012 and 2017; in San Francisco, they grew by 38% over the same period. Over half of California’s renters spend more than 30% of their income on shelter, according to the California Budget and Policy Centre, a research group. Instead of straining to cobble together rent, many Californians are trading palm trees for cheaper pastures in Texas, Arizona and Nevada. Others have been forced onto the streets. Homelessness in California rose by 14% between 2016 and 2017, according to the Department of Housing and Urban Development, compared with 1% nationally. With the November elections coming up in just a few short months, people, especially those who live in California, would have
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October 2018
to decide if they would let the state or city encroach on the landlord’s right to increase rent as a means to meet the ever rising prices and costs of living in California. To answer this question, we will have to divide the subsequent paragraphs into two prominent sections. Each will deal with two parties’ opposing views: The Landlord and Tenant. This way, the reader will have a clear understanding as to the benefits and disadvantages that one can get from raising the rent if one becomes a landlord or a tenant in California.
The Landlords’ Point of View From the landlord’s perspective people should understand that, not all individuals and families who are able to provide housing for California residents are able to do. Most
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of them have mortgages to pay. Increasing the rent for them is not a whim, but a necessity that they certainly cannot avoid. Having this state encroach upon their constitutional right to decide whether to increase rent on their own based on the merits of their situation would, according to some landlords, invade their right to engage in legitimate business. It would help if prior to approving the ordinance, the legislators are able to conduct a proper investigation on the possible reasons behind increasing rents in most California neighborhoods.
Economic Factors Affecting Rent Here are some factors that can affect rent prices significantly no matter where one chooses to live. •
The Cost of Living
•
The Affordability of Basic Necessities
•
Education
•
Property Mortgage
If the government is able to resolve some of the higher costs afforded to California residents regarding the aforementioned points, one can be assured that the rents will not end up being so steep for most potential tenants.
However, there should also be a proper balance between fair pricing for the landlords and cost of living for the tenants. One way of achieving this particular kind of financial balance for the tenant and the landlord alike would be to consider the number of people occupying the rented space. For example, if the tenant is a single man or woman with no family of his or her own, the rent could be much higher as opposed to a family of four. In short, the more tenants there are inside the house, the lower the rent. This payment scheme could be akin to paying tax. Depending on the economic standing of certain families, (lower, middle and upper class) their tax percentages also differ accordingly. This way, middle class families would still be able to afford living in California without worrying about exorbitant rent increases because these will be effectively mandated by the law.
Final Words California has more than its share of poor people who need more stable lives. The best approach would be not formulas but robust support – including transportation, health care, child care and cash – for poor people wherever they can find opportunity. And, of course, more housing. With these suggestions and points in mind, may California residents be able to make sound decisions regarding who to vote for. It should be someone that will not only champion their rights as residents, but also make California a better place to live for all individuals and families no matter what economic or social status they have.
The Tenants’ Perspective For the tenants, having the government dictate how much increase landlords can place on their rent would be extremely helpful in terms of maintaining the budget especially for larger families. This is because the more members of the family there are, the larger the expense.
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References: https://news.ycombinator.com/item?id=16349059 https://marginalrevolution.com/marginalrevolution/2018/01/ housing-california-unaffordable.html https://www.sacbee.com/opinion/op-ed/article69060742. html
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FRAZIER GROUP REALTY “Your Real Estate Navigator� 3739 Sixth Street Riverside, California 92501 (951) 686-5261 info@ fraziergrouprealty.com www.fraziergrouprealty.com
IN COMMUNITY
A
NDRE WILLIAMS, III
Artist, Entrepreneur and Real Estate Investor
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n the Spring of 1996, I was a new homeowner in Lake County, California. One day while looking for a place to have lunch with my son, I met the feature of this article. As I was driving down Lakeshore Drive, Clearlake, I was directed to stop at a newly opened establishment – Burger Time. Burger Time was an obvious play on words when looking at the artwork on the window – a hamburger caricature in “Hammer pants”. The owner of the establishment, Andre Williams, was (still is) a principal in the MC Hammer music organization. His family has owned property in Lake County since the 1960s. Mr. Williams has
by April Harris, PhD1
dabbled in multiple enterprises in Lake County, including restaurants – Burger Time, Andre’s BBQ, Hot Rods -- , a night club – Silk’s, a radio station – KMOB 100.3 FM2. Some twenty years since that lunchtime introduction with my son, Andre is still an entrepreneur in Lake County. His current endeavors include ownership of Drinx Bar and Grill, Lakeport, directorship of his non-profit organization, DreWill Foundation, as well as, real estate investor —residential, commercial and land. During a recent appointment with Mr. Williams
to discuss a real estate transaction, we met at a coffee shop in the Clearlake Rivieras, on the outskirts of the Village of Kelseyville. After talking about real estate, our meeting evolved into an interview about his career. I had been introduced to Andre in various social spheres, yet, had not an opportunity to “talk” to him. Because of our coffee shop conversation, I have come to learn that Mr. Williams has been involved in Bay Area music for more than three decades. He grew up in San Francisco’s Ingleside District and graduated from Lincoln High School. Come to find out, he played football with my cousin, Wayne Dixon, who was a running back at the same school in the 1980s. Before entering high school, Andre performed his first professional job. At age 13, he was a drummer/ vocalist under the Cherry record label in San Francisco. Shortly after high school, Andre joined a group called Cold Fire. By the age 21, he and his bandmates were signed to Capitol Records. They soon departed on their first international tour, opening for groups such as, Tower of Power and The Commodores3. Upon returning from Japan, Williams began a solo career with Fantasy Studios in Berkeley, CA. As a staff writer, he had the privilege to work with legendary artists such as, Lenny Williams and Dorothy Moore. During these years, Andre had the opportunity to sing background for R&B artists such as: Howard Hewitt, Jessie James, and the bands like, The Spinners, The Dramatics and Con Funk Shun, to name a few4. In 1991, Williams entered what he describes as the pivotal years in his career, working with MC Hammer (Stanley Burrell). According to Andre, during this time, he was “lead vocals and www.thepinmagazine.com
put background singers together”5. Nearly two decades later, Williams and Burrell are still collaborating. The exposure he received has led Andre to work with artists such as: Will Downing, Jodeci, TLC, and Boys To Men6. By the turn of the 21st Century, Andre Williams has led a fabled music career, culminating with performances at the American Music Awards, The Soul Train Music Awards and he was granted a Bay Area Music Award. By 2006, Andre was a published songwriting. He has contributor credits on The Whispers cd, For Your Ears Only, as writer/ producer on two tracks: Get It On and Diamond7. wide exposure during his music career and understanding the need to diversify his professional and financial portfolios, Andre has expansive artistic experiences. Mr. Williams’ resume includes acting. One of his first experiences, included the videos produced during his time with MC Hammer. Later, he worked with Fred Williamson, the actor known for his lead roles in many blaxploitation films. In the 1990s, Mr. Williamson spent one summer in Lake County filming scenes for one of his independent productions, in which Andre had a cameo role in the film, Sugar Race. The film, Night Vision, includes music 57
As for the transaction we were initially engaged in, before talking about his career: a project to use 30 acres of land he currently owns was the topic of discussion. His dream is to develop a summer music camp for children that can double, when educational programs are not on site, as a “glamping” destination. This region is growing a reputation for glamor-camping (aka glamping) and specialized themed camping adventures for tourist wishing to camp/ cycle/ fish/ hike/ wine and olive oil taste throughout this region. For more information on the music camp project, please contact Mr. Williams’s real estate agent: April Harris, The Power Is Now – Real Estate Services, 15530 Olympic Drive, Clearlake, CA 95422 or call her office at 707.461-4271 or direct at 707.814.5457. 11 featuring the Pointer Sisters on the soundtrack. According to Mr. Williams, he “produced the song, Dakota Smith”. He shared studio time on the project with Gladys Knight, Lenny Williams and The Dramatics. 8 A little more than a decade later, Andre is still an artist, entrepreneur and real estate investor. He has recently worked with MC Hammer; his youngest son, Kevon, went on tour with them. Kevon Williams, recently released, Night Time, on YouTube: April 25, 2018. https://www.youtube. com/watch?v=0I6nXgwaSnI 9 Andre has included Big Band to his music repertoire. He has been performing at wineries through out Napa, Sonoma, Lake and Mendocino Counties. His band, Andre Williams and Friends, recently performed at the Taste of Lake County annual wine tasting event. They will also perform at the upcoming, Soulful Music and Food Festival. This event will be held at Drinx Bar and Grill in Lakeport, CA on Saturday, October 13, 2018.10 This community event will help benefit local educational programs. Co-sponsors, The Power Is Now – Real Estate Services, Clearlake Office, has adopted a local preschool. A local musician, Victor Hall, coordinates an after-school music program in two Lake County locations. These programs, along with the DreWill Foundation will receive proceeds from this event.
The Power Is Now Magazine
October 2018
References:
April Harris is Wine Country City Manager for The Power Is Now – Real Estate Services. She is a licensed Realtist/ Realtor, CalBRE # 10988009. She can be reached in the Clearlake Office, 15530 Olympic Drive, Clearlake, CA 95422, 707.461.4271.
Personal Interview with Andre Williams, Kelseyville, California, September 27, 2018; Thrumond Watts, Lake County News Reports, “Music Planet Earth calling Lake County”, Tuesday, January 2, 2007. http://lakeconews. com
Thrumond Watts, Lake County News Reports, “Music Planet Earth calling Lake County”, Tuesday, January 2, 2007. http://lakeconews.com
Personal Interview with Andre Williams, Kelseyville, California, September 27, 2018; Ibid.
Personal Interview with Andre Williams, Kelseyville, California, September 27, 2018; Text message, October 1, 2018.
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4
5
6
Ibid.
The Whispers, For Your Ears Only, RW Entertainment2006, https://www.allmusic.com/album/ for-your-ears-only-mw0000745522/credits
See, 3.
See, 2.
Kevon Williams, Night Time, 2018. https://www.youtube. com/watch?v=0I6nXgwaSnI
The Power Is Now – Real Estate Services is a cosponsor of this upcoming event, The Soulful Music and Food Festival, Lakeport, CA.
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First Annual
Soulful Music and Food Festival
Event Sponsors: Little Red Hen Special Event and Catering Service
DRINX Bar and Grill Saturday, October 20, 2018 11 am - Closing 370 S. Main St., Lakeport, CA
Saturday, October 13, 2018 11:00 AM - Closing
Featuring music by
Andre Williams and Friends
Featuring music by: Localand wineries,Friends artisans and vendors Andre Williams with Special Guests Good Food, Good Wine, Good People, Good Time! Local wineries, artisans and vendors For more information, contact April or LindaPeople, at Good Food, Good Wine, Good The Power Is Now Real Estate Services 707-461-4271 Good Time!
For more information, contact April or Linda at 707-461-4271 The Power Is Now Real Estate Services
IN COMMUNITY
Two New Propositions Could Shake Up the Real Estate Market in November 2018
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n November 2018, Californians will have the opportunity to vote on two propositions seeking to lessen the gap between affordable homes and potential owners or tenants. On one hand, Proposition 5 or Property Tax Fairness Initiative is a target to seniors who want to
downside, and on the other hand is Proposition 10 or Local Rent Control Initiative which pursues to establish a state wide rent cap. Should any of these proposition come to pass, ma jor changes will happen in the real estate market that could either lessen or worsen the affordability crisis.
Since Prop 13 was approved in 1978, homeowners have only been required to pay 1% in property tax based on the time of purchase, while experiencing a 2% increase year after year . This means that if seniors decide to move to a smaller home in 2018, they have to pay higher taxes than what they do a four or 3-bedroom home purchased in the 1980’s. The Property Tax Fairness Initiative or Prop 5 tries to amend this problem by allowing senior citizens over 55 years of age to transfer their property tax benefits to their new home anywhere in the state. RealtorsŽ have argued largely in favor of this proposition . In their view, seniors will be encouraged to put their homes on sale and move to properties that better fit their lifestyle, thus increasing the number of available homes for first time
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“I’m more concerned about those who will get hurt: students, vulnerable Californians and the communities we put our lives on the line to protect” . Jesse Conner, president of San Diego City Firefighters On the other hand, the much more controversial Prop 10 or Local Rent Control Initiative seeks to repeal the 1995 CostaHawkins Rental Housing Act, which allowed cities to impose rent caps on any buildings completed before 1979. The new ballot will allow cities to place a cap on rental properties if they choose to do so.
buyers. “If these folks were able to sell, then folks in (younger) generations would be able to purchase.” Said Steve White, the president of Realtors association said, Nonetheless, Prop 5 is not universally approved as firefighters, teacher associations and local governments heavily oppose it. Opponents argue that the real people who will benefit are the wealthy homeowners and the real estate industry. They claim that senior citizens and people with disabilities already have tax cuts and benefits granted by the Californian Constitution. Furthermore, the Legislative Analyst’s Office calculated that Prop 5 could cost the state $1 billion dollars in revenue that is usually allocated to public schools, firefighter and police agencies.
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Opponents claim that more harm than good will happen if the proposition is approved. UC Berkley professor Kenneth T Rosen argued in his book The Case for Preserving CostaHawkins: Three Ways Rent Control Reduces the Supply of Rental Housing that rent caps will just increase the pressure in the real estate market, as it will discourage the building of new rental property and it will be an incentive to property-owners to convert to for-sale business or non-residential property. However, supporters of Prop 10 maintain that the Costa-Hawkins act has largely failed to address affordability issues plaguing the state. Paola MartinezMontes, director of Alliance of Californians for Community Empowerment explained, “Before 1995, 82 percent of Santa Monica’s rent-stabilized apartments were affordable to low-income households. A decade after Costa-Hawkins superseded Santa Monica’s law,
eliminating vacancy control; only 14 percent of the rentstabilized apartments remained affordable” . What remains to be seen is what will happen if both propositions are approved, as they seem to prey on one another. For instance, if Prop 5 encourages senior citizens to downside there might be an increase in home units, but if Prop 10 discourages new constructions then any relief in home affordability might become negligible in the longterm. One thing is true; while both the propositions are flawed, they are a step in the right direction as politicians are starting to address the housing crisis directly.
References: https://ballotpedia.org/California_ Proposition_13,_Tax_Limitations_ Initiative_(1978) http://www.kcbx.org/post/shouldbaby-boomers-get-property-taxbreak-move#stream/0 http://www.sandiegouniontribune.com/ opinion/commentary/sd-utbg-prop5california-tax-transfer-20180815-story. html https://escholarship.org/uc/ item/9dn0n4g7 http://www.sandiegouniontribune.com/ opinion/commentary/sd-utbg-prop10rent-control-california-20180810-story. html
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Home Ownership By Eric Lawrence Frazier MBA
Home ownership brings stability to individuals and families who have never had a dwelling place that they could call their own. There is something special about owning real estate that is unlike anything else on earth you can own. Real Estate you own is not like cars that decay over time and you have to replace them. Real Estate you own is not like clothes that go out of style and you have to buy new ones. Real Estate you own is not like expensive vacations or experiences that only last a moment in time. Real Estate you own is not like an apartment where the landlord may increase the rent until it’s no longer affordable. Real Estate you own is not like staying at your parents house where you know can’t stay forever. Home ownership is the beginning of wealth that increases over time and becomes your estate & legacy Home ownership is the pride of a mother nurturer and the kitchen her domain Home ownership is the pride of a father provider and protector of his territory and family. Home ownership is the foundation of permanence and the place where life happens, birthdays celebrated, deaths mourned. Home ownership is the place you build memories that can never be taken from you. Memories etched in walls and concrete, experienced in rooms and floors, Memories living in trees and shrubs planted by your hand. Howe ownership is the manifestation of you - your style, your colors, your smell, your stuff, your junk, your memories, your yard and your spaces, your life. It’s the height markers on your first child’s bedroom wall. It’s the hearts drawn in the concrete slabs when you pour your patio floor It’s the birthday parties, and anniversaries in the living room and kitchen. It’s the back yard barbecue with friends, neighbors and family contentions it’s the high school and college graduation, and wedding receptions Its’ the family nights and block parties and the fellowship of family connections Home ownership It’s more than real estate. Land, brick and mortar, wood frame construction and chicken wire. It’s more than money saved, gifts recieved and grants obtained It’s more than the debt you incur to buy it. It’s more than the payments you make to own it. It’s more than the appreciation that comes with keeping it over time. It’s memories, it’s family, and it’s life that can happen in one place Until you say it’s time to move.
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