The PIN Magazine - September 2016

Sept em ber 2 0 1 6 Vo l . 0 3 | I s s u e 9

IN THIS ISSUE:

• MINUTES FROM THE FOMC MEETING • EMERGENCY FUNDS TO SAVE YOUR FAMILY! NAHREP NATIONAL CONVENTION SEPTEMBER 17-20, 2016

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. 03 | Issue 9

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REAL ESTATE

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In This

Issue...

FINANCIAL 12

42

Minutes From the Federal Open Market Comitee How Much Should Your Emmergency Fund Be?

COMMUNITY 18

The NAWRB Women’s Homeownership Initiative

REAL ESTATE 22

Seattle, Washington

24

Austin, Texas

28

Anaheim

OUR COVER 32

Joseph Nery

YOU 36

The Joshua Generation: Are you Willing to Follow?

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From the Editor...

Conference season is here! NAREB’s amazing conference has already passed us by, and if you missed it, then you really missed out on some premium professional development and connections as well as a great time.

NAREB always puts on a great party and to have it in California was a great bonus. As NAHREP and AREAA step up to the plate, I know that they will meet my high expectations as they do every year. There are many problems that this country is attempting to deal with, and with these groups we can fight to bring real estate to those living paycheck to paycheck. I know with NAREB, NAHREP, NAWRB, AREAA, and many others, we will succeed in changing the lives of all Americans.

Within this issue of The Power Is Now, look for our article on Joseph Nery, 2016 President of NAHREP, and

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the NAHREP conference. It is sure to be one of the events of the year. Also within this ezine are analytical examinations of Austin, Texas; Seattle, Washington; and Anaheim, California.

These articles will bring you to the city and let you have a look around at the national real estate.

As buyers, sellers, real estate professionals, and average Joes, we need to be alert and conscious of what is going on in the real estate world or we risk missing a critical piece of information.

Knowledge is power, and let’s keep that power in our hands.

One way of keeping that power is by being informed, which is why I stay on top of all of the FOMC meetings. I have a summary and analysis of the minutes from late July here as we prepare for the next meeting in late September.

Are you prepared for an emergency? I knew that at one time I truly was not. Read my article and make sure that you do not make the same mistake for yourself and your family!

I would like to thank Diatra and Desiree Patno for their expertise in their contributions to The Power Is Now for the September issue. I always love when experts can bring their content together to really enhance the final product, and they all did a fantastic job. If you are an expert, feel free to email me at eric.frazier@thepowerisnow.com if you would like to make a contribution to The Power Is Now Magazine.

Your Power Is Now! Eric Lawrence Frazier, MBA Editor-In-Chief

The Power Is Now MAGAZINE | 8

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Real Estate Marketing Session Networking with Industry Leaders and Top Agents Inclusion in The Power Is Now VIP Agent Mastermind Group

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

FINANCIAL

Minutes from the federal open market comitee The Federal Open Market Committee began stabilize the economy further? The answer its July 26th and 27th meeting with discussion was no. The committee was convinced that about how interest rates and funds were dealt right now the best course of action is to gain with during the financial crisis.The differences additional experience with recently developed between then and now include changes the policy tools, such as the payment of interest on Federal Reserve has made to its policy tools and reserves, and accumulating more information balance sheet, changes in market participants’ about some important considerations that are business practices, and the regulatory changes still evolving, including financial regulations made around the globe to strengthen the financial and market participants’ responses to them. system. These various changes have allowed more safeguards to keep the economy from 2. Monetary Policy: The committee would like taking another dive into crisis. to implement a long term monetary policy framework, the single most important Here are the decisions: component that must be contained within the framework is it flexibility to adjust the 1. Stabilizing the Economy: Was a new monetary framework when implemented. The long policy framework necessary in order to term framework needs to give the FOMC

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enough power to make minute changes in case 5. Unemployment: The unemployment rate rose of disaster while still allowing for structure. to 4.9 percent in June, partly reversing its decline in the previous month. Of course 3. Financial markets and open market operations. this is disconcerting as unemployment needs The committee discussed the current status of to come down for all, especially African the dollar after the Brexit, otherwise known Americans. To couple that figure, the labor as the referendum for the United Kingdom force participation rate edged up in June, to leave the European Union, which caused while the employment-to-population ratio the pound to plummet along with security for came down. The unemployment rates the dollar. Luckily, global trade values on the for African Americans and for Hispanics dollar rose in light of the event. The committee stayed above the rate for whites, al­though could not help but report their appreciation the amount of jobless African Americans for the resilience of the dollar and the U.S. and Hispanics now is similar to that of economy. Through Brexit votes and uprisings the amount jobless before the recession. in Turkey, the U.S. economy remains stable.

6. Housing: Housing activity has slowed in 4. Economic indicators: The labor market recent months, causing the recovery of conditions generally improved in June and the housing market to slow as well. As the that GDP growth was moderate in the second FOMC reports in the minutes of the July quarter. Consumer price inflation continued meeting, “Interest rates on 30-year fixed-rate to run below the Committee’s longer-run mortgages decreased further, partly reflecting objective of the hard and fast two percent, kept the declines in yields on Treasury securities. on track in part by earlier decreases in energy A number of large banks noted in the July prices and in prices of non-energy imports.

SLOOS an easing of standards for homepurchase loans eligible for purchase by the government-sponsored enterprises (GSEs).

Banks also reported a broad-based pickup in demand across most major categories of home-purchase loans. Indicators suggested a pickup in refinancing activity in response to the drop in mortgage rates.” With this fall in interest rates for homes and easing of the standards for home-purchase loans, a hopeful tone emerges. I see opportunity for buyers and minority buyers in particular as they continue to struggle to participate in the recovery but are facing the headwind of low inventory and high prices.

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FINANCIAL

7. GDP: GDP (gross domestic product) rose in the second quarter, predicting an even faster rate of growth for the GDP, triggering higher household wealth as well as lower interest rates. Inflation, a stress that always permeates the FOMC, was not forecasted for this meeting as the rate of inflation was lower than expected last quarter and crude oil prices and the cost of imported goods should keep the rate of inflation under the two percent line, which bodes well for all in the U.S. 8. Business: Thigh level of motor vehicle sales and the higher single family home sales is not correlating with business investing market. It seems as though investors either do not have as much faith in investing in businesses or skepticism and stress from the Great Financial Crisis remains. Whatever the reason, the market for business investing remains soft.

Conclusion: FOMC members noted that they continue to expect that, with gradual adjustments in the stance of monetary policy, economic activity would expand at a moderate pace and labor market indicators would strengthen. Several votes were taken and passed to continue to reinvest principal payments from FOMC holdings of agency debt and agency mortgagebacked securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction, and the FOMC expects to continue doing this until the normalization of the federal funds has occurred.

and 21st, and I cannot wait after such a hopeful meeting. As long as interest rates remain low along with inflation, real estate will flourish.

This is a great time to buy a home and I cannot wait to help more buyers and sellers with this information. The Power Is Now! If you have any real estate needs, please email me at eric. frazier@thepowerisnow.com. I look forward to fulfilling all of your needs!

The committee agreed to holding the next Eric Lawrence Frazier, MBA meeting at the end of September on the 20th President and CEO

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COMMUNITY

The Women’s NAWRB Homeownership Initiative Homeownership is a central part of the American dream, for most people, it is the American Dream. Owning a home connotes success and achievement.

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As women progress in the workforce and receive the consideration and participation they have earned, it is essential to fortify their growth with strong economic foundations. Why is it important for women to become homeowners?

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Women continue to face obstacles in their career paths, with a pervasive 27 percent gender wage gap and lack of advancement in hierarchy. This disparity significantly impacts women’s ability to incur savings and secure a home to call their own, as their paychecks don’t travel nearly as far as men’s.

are headed by a female. In the U.S., 30.9 percent of families headed by women with no husband present live below the poverty level. Of these, 40.5 percent households have children below 18 years of age and 47 percent have children under five years of age. The economic challenge of living in financially underprivileged states has profound negative effects on these children and plays a major role in preventing their mothers from living above the poverty line and ultimately transitioning into homeownership.

There are encouraging facts, however.

According to 2014 Census Bureau data, there are 18,057,000 female homeowners in the United States. Ten million live alone, 6.7 million live with relatives without a husband present and 1.3 million live in two-or-more Apart from these women person households. living in poverty, inability to purchase homes has given The desire for homeownership rise to a new trend of women is present and firm among living with their families rather women. With the prevalence than living alone. According placed on pay parity which to the Pew Research Center, in would significantly increase 1940, 36.2 percent of women their access to homeownership, aged between 18 and 34 lived female buyers are poised to with their family, parents or have a formidable effect on the other relatives excluding their housing industry. spouse. In 2014, 36.4 percent of women in this age group were Home Affordability and still living with their families.

Potential Homebuyers One of the focal reasons for According to the U.S. Census this is affordability; not many Homeownership provides the Bureau, more than 1 in 4 women have sufficient incomes financial security to safeguard families with children under to afford a home and in some women’s progress, and paves the age of 18 are headed by a cases even rent. the way for future generations. single parent and more than 3 out of 4 single parent families

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COMMUNITY

• The number of women living at home dropped to 24 percent in the late 1950s and early 1960s and slowly rose between 1960 and 2000; the Great Recession caused the sharp increase after 2008 • In 2014, young adults enrolled in college were more likely to live with their families than those not enrolled in college: 45 percent versus 33 percent • Married women leave their family homes to live with their husbands, but now women are delaying marriage. Only 30 percent of young women were likely to be married in 2014 compared to 62 percent in 1940 • Census Bureau data proves that now , on average, women enter marriage at age 27, compared to 21.5 years in 1940 • Age break-up for women living with family as of 2014: * 56.1 percent women aged 18-24 * 28.4 percent aged 25-29 * 16.2 percent aged 30-34

Facts on Women’s Homeownership According to NAR’s Recent Home Buyer Profiles, a survey conducted among homebuyers who purchased homes between July 2014 and June 2015, more single women purchased homes than single men.

• Household composition of recent buyers * 67 percent married couples * 15 percent single females * 9 percent single males * 7 percent unmarried couples • 15 percent of all respondents were single female buyers * 37 percent bought a home because of the desire to own a home * Median age – 50 * Median income – $57,300 * 39 percent first-time buyers * 87 percent bought previously owned homes september 2016

• • • •

• •

* Median home price – $169,100 * 72 percent bought a detached singlefamily home * Convenience to friends and family was a major factor, with 43 percent considering it 32 percent of all respondents were firsttime buyers * 18 percent were single females 13 percent of the total respondents bought multi-generational homes * 13 percent were single females Eight percent of all respondents were buyers of senior housing * 24 percent were single females 22 percent of all respondents downsized their homes or desired to buy a smaller home * Median age – 60 * 18 percent were single females 21 percent of respondents were in active military duty or veterans * Six percent were single females Four percent of all respondents were LGBT Buyers * 25 percent were single females

Conclusion Negatively impacted by the Great Recession, the percentage of single women homebuyers decreased from 20 percent in 2010 to 15 percent by 2015. However, women’s homeownership is growing, driven namely by professional progress leading to increasing purchasing power and the willingness to sacrifice other necessities in order to afford a home.

The NAWRB Women’s Homeownership Initiative (WHI) will help cement women’s personal and professional strides by increasing women’s homeownership and raising awareness of women’s poverty levels.

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REAL ESTATE

SEATTLE, WASHINGTON S

eattle, Washington is an iconic metropolitan area with the majestic Space Needle from the 1962 World’s Fair, and for many Americans this is the extent of their knowledge about Seattle. There is so much more to this city than a beautiful landmark.

If you are thinking that you can get out of this competition by renting, you are unfortunately wrong. The average monthly rent in Seattle is $2,450, a price that asks the question of why you are paying someone else’s mortgage. You might as well buy the home at that rate! After all, the average monthly rent in the United States For one, there are amazing activities and is $1,412, which is more manageable than the adventures that can keep any family, couple, $2,450. or the simple bachelor busy. The Seattle Underground Tour features an in-depth, guided There are a few neighborhoods that you should walk through the intricate mazes of subterranean know if you are looking for a less expensive buildings that sit beneath Seattle’s floor. Pike option for buying a home in this lovely city. First Place Market is another iconic spot in Seattle, Hill and Uptown are some of the least pricey featuring a delicious farmer’s market, crafts, and neighborhoods in Seattle, Washington with something for everyone. average home values at $329,000 and $362,200 respectively.

As for the real estate situation in Seattle, right now the market is a hot seller’s market with Prices will only go up in the next year with a homes at a median price of $588,000. As one six percent increase of home values projected, often sees with seller’s markets, the media price so if you are looking to buy in Seattle, get into of homes in Seattle is higher than the median list that market as quickly as possible before you are price of $575,000, revealing the competition that swept up in the rising home values. Buy now! lies within the city. Buyers are fighting for their dream homes with vigor and there seems to be no end in sight!

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THE POWER IS NOW MORTGAGE SERVICES

A Division of The Power Is Now Inc.

ERIC LAWRENCE FRAZIER, MBA MORTGAGE SERVICES

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

Why Work with Eric Lawrence Frazier MBA?

Programs:

• 34 years of experience in helping buyers finance their home • BS in Business Administration and Management and a MBA in Finance • Real Estate Broker CALBRE # 1980407 • Experienced Business Consultant and Life Coach • Eric Frazier will counsel and guide you through the process. He will help you to make difficult decisions and support you until the loan is closed.

• • • • • • • • • •

• 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.

REAL ESTATE

Austin, Texas has become a boom town almost overnight. Ranked as the best city for jobs according to Forbes in 2013 and the #1 Top American Boomtown by Bloomberg for the same year, it’s no wonder everyone is trying to find out what the city has to offer. Forbes also listed it as the #2 city for future job growth, which enhances the long-term appeal for the city. All of this interest in the state capital has led to an increase in home sales and a major decrease in inventory, which results in increased home prices.

Why Austin

below the national average at around four percent. This is the city to move to if you want to start a new company, especially if it’s a tech startup. Entrepreneur voted it as the #1 top startup city for cost and taxes. Austin is seen as the top city for young entrepreneurs and one of the top cities for women entrepreneurs.

The quality of living is better here as well with high ratings for environmental issues and cleanliness. It was rated as one of America’s Best Bike Friendly Cities by Bicycling Magazine.

EnvironmentTexas.org named it as the Greenest City in Texas. (6 Reasons Why Everyone is Moving to Austin, Texas)

Unemployment has continually been on the decline since 2010 with the current rate well People of all ages enjoy life in Austin. Forbes

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included it in the top retirement cities while Parenting.com listed Austin as #2 for Best Cities to Raise a Family.

Millennials also find plenty to interest them in the state capital. In 2012, the city ranked #3 for the lowest violent crime rate in the nation.

real estate. Current inventory is at just two months when the number for a balanced market is 6.5 months.

The average price for a singlefamily home in January 2016 was up 3.8 percent over January 2015. The average number of days a home was listed on the market went down by 7 days for the same time period.

Pending sales in January 2016 was up by 16.6 percent from the previous year. There were 8 percent more new listings for the same time period, which brought the active singlefamily home listings up by 11.4 percent. (Austin Real Estate Report)

Austin boasts a lower cost of living than the national average while providing plenty of activities to keep everyone entertained. There’s a festival almost every week and numerous cultural and arts events. Outdoor activities entice many adventurers to the city while entertainment is available with concerts, sporting events and other special events. (Infographic: The result of the Austin boom Why everyone is moving to has been unaffordable housing Austin, Jan 2014) for many residents. Developers are now working to address The Current Real Estate that issue by creating projects Climate to provide more affordable options for those who When you see all that Austin earn less than 80 has to offer, it’s not hard to percent of the understand what has happened to the real estate market. As people discovered this gem of a city, they moved here and bought up all of the available

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median household income.

One of the strategies to deal with the housing problem is rewriting the land development code. The same code has been in place since the 1980s and a new code would provide for more housing in all income categories.

The impact of the lack of affordable housing is being seen all around the city, including transportation and economic development. The city is working diligently to find solutions for these issues to ensure Austin continues attracting new businesses and residents.

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REAL ESTATE

Anaheim California.

Being located on Interstate 5, Anaheim is also connected to one of the largest highways on the West Coast.

This city is also the location of the Disneyland Resort. A great location is difficult to beat, but The city of Anaheim provides what is the market of this city like? a less expensive location than other portions of Southern California, while still Anaheim’s Crash Recovery maintaining a short distance to many important locations around California. Because this urban Ever since the real estate crash of 2008, many area is under an hour drive away from Los real estate markets have been trying to recover Angeles, Santa Ana, and Long Beach, Anaheim from the crippling effects of the housing bubble stays close to many important attractions, while burst. There have been varying amounts of still staying away from the larger cities. This success from multiple markets, but the real city boasts of being a part of the Los Angeles estate market of Anaheim, California has been metropolitan while still being a separate city in showing promising potential. This market has

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past five years the average price of houses has appreciated by 31% (“Anaheim Hills Real Estate ~ Market Update - O.C. Real Estate Consultant”).

These increasing values have also come along with there being a lower inventory in the market of Anaheim. This is creating a seller’s market within the city of Anaheim; therefore, there is a lower inventory of homes to be sold. Not only is it a seller’s market, the house values are also increasing, creating a market that is great for property owners in Anaheim. Trends indicate that this will continue to be the case, because the property values are projected to continue increasing based on their previous appreciation (“Anaheim CA Home Prices & Home Values”).

To Buy or To Sell

been managing to slowly and steadily work its way back up towards what the value of houses were before the real estate crash. The median sale price of homes in Anaheim have not returned to their peak at $608,000, but they have been slowly increasing over time. Home values have moved the median sale price back up to $497,900. This market has shown impressive growth, with the home values rising 3.8% over the past year. Not only that, it has been projected that the home values will increase by 1.2% within the next year (“Anaheim CA Home Prices & Home Values”).

This projection comes from the fact that for the

Comparing the median value of houses over the national, state and local level, Anaheim is revealed to be a more valuable than the median national and state value for houses. Overall, the median house value of houses in Anaheim is $481,500 (“Anaheim CA Home Prices & Home Values”) while the median house value of houses in California is $441,800 (“California Home Prices & Home Values”) and the median house value at the national level is $275,500 as of February (“Median and Average Sales Prices of New Homes Sold in United States”). This means that Anaheim houses are more valuable than the median house value at the state and national level.

This trend reveals that the Anaheim market is managing to do better than the national market overall, and it is doing slightly better than the state level. This trend may be due to the fact that the market in Anaheim is supported by its location on the I-5, its proximity to Los Angeles (and being part of the LA Metro), and the fact that Disneyland, a major tourist destination, is located in Anaheim.

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REAL ESTATE

in the U.S., which is at most $1,523 for a three bedroom apartment (“Apartment Rental Data”).

Is The Rent Right?

As for renting prices in Anaheim, the prices in Anaheim are comparable to the surrounding cities except for Los Angeles. Anaheim has a Zillow Rent Index of $2,451 (“Anaheim CA Home Prices & Home Values”), while the city of Santa Ana has a Zillow Rent Index of $2,294 (“Santa Ana CA Home Prices & Home Values,”). Anaheim does not, however, have a higher Zillow Rent Index value than the city of Los Angeles, which has a Zillow Rent Index value at $4,252 (“San Francisco CA Home Prices & Home Values”).

One may ask: why is Anaheim so far above the U.S. average? The answer is simple. The location cannot be beat. With Disneyland in your backyard, Anaheim’s apartments and homes for rent cater to the employees of the Disney attractions as well as eager families looking to rent near the Disney magic.

A simple conclusion to make here is to buy. Do not rent, because renting in Anaheim is not an investment; it is a black hole. Instead, the time to buy is now to increase your wealth and make Not only are the Zillow Rent Index values high one of the most important investments of your in California, but at $4,000 the rent price of Los lifetime.

Angeles is significantly higher than Anaheim’s rent price of $1,800. Despite that, Anaheim’s Anaheim: A Valuable Market average rent list price of $1,800 is still more expensive than the average rent price for houses Overall, Anaheim is a growing and important market for the U.S. Predictions for the city of Anaheim have shown that home values will increase slowly over time. The steady growth and property value increase that this city is showing is proof of how a market can recover over time from a terrible crash. The support that Anaheim receives from its location helps astronomically in the recovery of this city.

For the people living in Anaheim, they will be seeing an increase in their home value and a decrease in the amount of homes that are for sale.

Since the home values will be higher, properties will be worth more and will sell for more, should owners choose to do so. This will create a more competitive market within the city of Anaheim.

Ultimately, Anaheim is projected to increase its property value and to become a great market for anyone looking to sell their property. As homes become less prevalent in Anaheim, it becomes even more vital to jump in and invest in the market now. Your home will only appreciate in Anaheim.

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Our Cover

Joseph Nery C

onference season is upon us! As the National Association of Hispanic Real Estate Brokers readies itself for its amazing conference in Los Angeles, California from September 17th to 20th, The Power Is Now felt that celebrating NAHREP’s current president, Joseph Nery, would be fitting.

featured on legal and business segments with Univision and Telemundo Chicago in radio and television.

Mr. Nery served as president of the Chicago chapter of the National Association of Hispanic Real Estate Professionals® (NAHREP) from 2009 -2011. He has served as a national board member of NAHREP since 2012 and was elected 2015 NAHREP President Elect. Mr. Nery has also served as a board member of the Illinois Real Estate Lawyers Association since 2008. He is an active member of the American Bar Association, Chicago Bar Association and Hispanic Lawyers Association of Illinois. Mr. Nery’s charitable affiliations include serving as a board member of the March of Dimes/Comcast Sports Awards Dinner and the Rauner YMCA. He is a frequent speaker on topics such as business formation and development, establishment of estate plans, short sales, foreclosure prevention, predatory lending, collections enforcement and the purchase and sale of a home. He is regularly

Homeownership will be a critical part of this conference as NAHREP noted, “We strongly believe homeownership is the symbol of the American Dream, the cornerstone of wealth creation and a stabilizing force for working families. Our role as trusted advisors and passionate advocates is to help more Hispanic families achieve the American Dream in a sustainable way that empowers them for generations to come. To achieve our mission it’s important to equip professionals in the industry with the latest tools and information to be successful.”

Mr. Nery obtained his law degree with distinction from the Hofstra University School of Law in Long Island, New York where he was a recipient of the Patricia Roberts Harris Fellowship. He Joseph Nery is one of the members of Nery & received a bachelor of arts in political science Richardson LLC and his practice is focused in with honors from Northwestern University in four areas: real estate, corporate and business Evanston, Illinois. law, estate planning and commercial and civil litigation. Mr. Nery represents individuals With such an accomplished president, it is no and companies in litigation matters such as wonder how such a great conference occurred. foreclosure prosecution, consumer protection, This conference will feature headliners such as breach of contract and landlord/tenant disputes. Tony Plana, Tina Aldatz, and Ana Valdez with Prior to establishing his own law practice, Mr. speeches on their experiences as Hispanics in Nery was a transactional attorney with two of America and how homeownership has affected Chicago’s most prominent law firms. them.

The Power Is Now is certain that NAHREP will throw a great conference to support, enhance, and bolster homeownership for Hispanic Americans.

Get ready Los Angeles!

The Power Is Now MAGAZINE | 33

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YOU

THE JOSHUA GENERATION: ARE YOU WILLING TO FOLLOW?

A

t the 69th Annual NAREB Convention Prayer Breakfast the speaker Bishop Craig A. Worsham boldly declared, “that you were called to such a time as this.”

That statement triggered questions I would like to explore with you. Starting with the basics, what exactly have you been called to do? Is it just about getting 2 million random African American families into homes? Is it merely about rebuilding black wealth? Or is it bigger than you and me? Could it possibly be about fulfilling the Word of God? Could it be that you were called to such a time as this for God to fulfill a promise that He made to His children generations ago?

Could it be that your God-purpose is to fulfill the prophecy that started with Moses and ended with Joshua?

Let me briefly tell you about Moses from the book of Exodus chapter 14. He was called to lead the children of Israel out of slavery from Egypt. God instructed him to divide the red sea for them to walk through to their victory. Once on the other side, they would have a short journey in the wilderness, and then cross the river Jordan into their promised land. They were set free for the sole purpose of possessing the land that God had promised to their fathers. However, the children of Israel rebelled against God. Yes, even after they experienced the miracle of walking through the red sea. Yes, even after He swallowed up their enemy in the same sea that He used to set them free. Because of their rebellion, a whole generation died in the wilderness never to reach their promised land. It was not until another generation was raised that God called Joshua to Ok, maybe these questions aren’t so basic, but I finish the work He started with Moses. promise it will come together in the end.

september 2016

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Now you may be thinking, what 7-8 Moses called to Joshua and does this have to do with me? said to him in the sight of all Israel, “Be strong and of good Well, let’s go back to the courage, for you must go with speaker at the Prayer Breakfast. this people to the land which After he said that you were the Lord has sworn to their called to such a time as this he fathers to give them, and you also said that God only called shall cause them to inherit it. one leader. We are clear that And the Lord, He is the One the one to lead is Ron Cooper, who goes before you. He will President of NAREB. Think be with you, He will not leave of Ron Cooper as a modern you nor forsake you; do not day Joshua. Now that we have fear nor be dismayed.” established Ron Cooper’s role, the question of the hour is are Now, imagine God giving you willing to follow? Let us Ron Cooper this very message first look at what it means to be through his godmother who willing? To be willing means encouraged him to run for the to be ready, eager, or prepared NAREB president position. to do something. What does it Next, imagine that you are then mean to follow? To follow the ones who will go in and means to go or come after, go take back the territory God after, and walk behind. Before promised He would give. That you answer, let us explore the you are called to be officials, gravity of this expedition. to help the 2 million African Americans to inherit the land.

It is clear on who you are to Not only help them to inherit follow, but what exactly would the land, but you will stretch you be following? We will your abilities in activism and get to that answer later in this enhance your gifts to advocate article. For now, let’s look at and serve as wise counsels. You how Joshua was commissioned will be the front line of defense, to take the baton from Moses to a force to be reckoned with in finish the race. the legislation process, the very light that will shine on their According to Deuteronomy 31: paths, you will lead the way,

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About the Author: My name is Diatra Simpson, Founder of DLS Inspirations: Chains are meant to be broken. I have my Master of Arts degree in Psychology Counseling from Holy Names University. DLS Inspirations is a legacy company to build wealth for my family. DLS is my initials Diatra Lashawn Simpson.

Chains are meant to be broken is not just the tagline to my business, but it’s the tagline to my life.

My goal with my business is to help people to identify beliefs that are rooted in fear, to give them permission and tools to www.thepowerisnow.com

YOU

as you are the ones empowered to bring them into victory through homeownership.

Although your job is to follow, you are very much a leader.

After the passing of Moses, God reiterated in Joshua 1:6 Be strong and of good courage for to this people you shall divide as an inheritance the land which I swore to their fathers to give them. 7. Only be strong and very courageous, that you may observe to do according to all the law which Moses My servant commanded you; do not turn from it to the right hand or to the left, that you may prosper wherever you go.

you in 5 steps. To be successful in this seemingly impossible quest, you must not deter from this plan.

To further explore what this has to do with you leads to my final point on willingness. The only way we can successfully follow is to practice principles that will enrich our spiritual condition. Matthew 26:41 says in part that the spirit is willing, but the flesh is weak. In order to come to a place of willingness we must be strategic and matter fact about putting the flesh under subjection. What then is the flesh? The flesh is the physical, mental, and emotional state of being. To put the flesh under subjection means to bring it under your spiritual control. When we practice certain spiritual principles in every area of our lives such as open-mindedness, honesty and willingness our consciousness or awareness increases and facilitates the alignment of our will to the will of God.

In Joshua 1:6 it states that there is a plan. It also states to not turn from it [the plan] that you may prosper wherever you go.

At the 69th Annual Convention Opening Ceremony & Celebration Dr. Pamela Jolly, NAREB’s Strategist had everyone stand up and say one word “launch!.” She explained that this is the first time in history that a formula for success was Your spiritual control starts established to bring the 2M-N- with the deliberate decision 5 into existence. to operate from a present or conscious mindstate. The To answer the question of what present is the only place where to follow is simple and clear, you can be clear and decisive. consistently follow the formula Living in the past or future that was plainly laid out for mindstate only creates pain and

september 2016

The Power Is Now MAGAZINE | 38

rewrite those beliefs in away that serves them from a place of love. My passion and purpose is to see people walk in their freedom from the shackles of pain and fear.

This freedom is what I was missing and needed in my life. I was afraid of everything and everyone. Fear kept me in bondage to the pain of past events in my life. It was blocking me from just being me. It was blocking me from operating in greatness, from using my gifts, and from living my purpose. It was blocking me from giving my authentic self to you. Well, I got tired of that existence.

I became desperate enough to be willing to do the work to overcome and conquer my fears, to make peace with my past, and to resolve the sting of the pain. Today, because of the work I have done I get to relish in the now and teach others how to overcome, conquer and live their purpose that they may live in the now as well. My vision is to inspire and empower people to break unwarranted chains in their lives to explore, discover and live their purpose. My mission is to inspire the world one person at a time through putting on workshops such as Break Chains to Live Your Purpose, Inspirational Speaking, and Life Coaching.

causes one to be ineffective. To advocate or be an activist on another’s behalf takes not only courage, but power, love, and a sound mind.

To operate in any state of mind other than the now will only induce fear. Besides, we were not given a spirit of fear but of power, love, and a sound mind, 2 Tim 1:7. When we are willing to align our will with God’s will only then are we able to tap into the power source inside that equips us with such supernatural propensities. Although the 2MN-5 is a tremendous feat, you are not to fear or be dismayed as instructed in Joshua 1:6. Do you know what fear does to the mind and spirit? In short, it torments. Torment means severe physical or mental suffering, torture, misery, and pain.

According to 1 John 4:18 the only thing that can cancel out fear is perfect love. We can only experience love in the now, for God is love, and God is in the now. Time only matters in the now, power only exist in the now, and sound mindedness only activates in the now.

Those 2 million families are not random, they have already been chosen, and they need you in the now. They need you to be

equipped to operate in the now Below is a breakdown of what because apart of your job will chains denote in my tagline. be to bring them into the now.

The calling on your life is of a great magnitude in which God will enable you to be victorious.

Do you believe it’s possible to get 2 million black families in homes in 5 years? Before you can decide to follow, you must first believe that all things are possible to those who believe, Mark 9:23. You must activate your faith with your works.

The work that you put in day in and day out to reach your goals do so intentionally from a mindstate of faith. Hebrews 11:1 tells us that faith is the substance of things hoped for and the evidence of things not yet seen. You must strengthen your belief in the One who sent you, that He sent you to conquer. However, He only sends those who are willing.

Willing to follow. Willing to trust. Willing to obey.

Willing to act according to His instructions. It’s not so much about being ready, it’s more so about being willing. Again, are you willing to follow?

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Chains represent the rules we create when something painful happens in our lives. The rules are in essence designed from a mindstate of fear with the primary objective to cope with existing pain and protect self from experiencing new pain.

Rules are established in our conscious mind, hence we are aware of them.

We tell ourselves stories to reinforce why we need a rule to help us cope and protect self. When those rules are mixed with emotions they may transmute into our belief system. Once a rule morphs into a belief, it centers in our subconscious mind. Once a belief enters the subconscious we are then operating on autopilot, which means we make decisions based on our beliefs. If those beliefs are rooted in fear instead of love we are then robbed of the now and from making meaningful connections to what happens in the now. These are the chains that need to be broken that we may walk in our authenticity and purpose.

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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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FINANCE

HOW MUCH SHOULD YOUR EMERGENCY FUND BE

I

n life, we should expect the unexpected. I have had my share of unexpected events that resulted in financial difficulties and have seen many families get struck by the financial burden of unforeseen expenses. It doesn’t matter how much money you make or how well you plan, bad things can still happen. According to a survey conducted by the National Foundation for Credit Counseling in 2011, 64% of Americans do not have the money to pay for an emergency that costs $1000. Seventeen percent of the respondents said they would borrow from family or friends while another 17% said they would just have to neglect existing financial obligations.

Either way, having insufficient savings in a special account for emergencies can and will drive you into debt. The added debt then creates another set of problems that exacerbates an already tenuous and fragile financial condition.

september 2016

The years 2008 to 2013 were very challenging for my family and I. There were many unexpected things that happened during those years. They are too numerous to mention in this blog but what I can say is that they were all significant and life changing. The end result of these events is that it wiped us out financially. In the beginning of 2008, I thought I was set. I had a great job and was on my way to celebrating 13 years with my company, a great income (the most I have made in any previous job), and a lot of cash in the bank, since my income far exceeded my expenses.

Then, I saw it all disappear over a period of one year. The catalyst of my challenges was the Great Financial Crisis. It’s a familiar story that I and many of my friends in the real estate and lending industry can now reflect on with an attitude of gratitude, because we survived it and can share the story with others. It was a difficult time for

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me personally, professionally, emotionally and the more you want to add to your fund. Even if spiritually. you lose your job, you still have bills to pay and if luck is not on your side, it might be awhile What I learned through these challenges is that before you find a more suitable and stable form I saw life through rose-colored glasses and of employment. I stumbled upon an Emergency thought it almost inconceivable that anything Fund Calculator athttp://www.calcxml.com/do/ negative could happen to me that I would not be bud03 which helps people determine the right able to handle or fix. I was wrong and naive. The amount of an emergency fund given a person’s best thing anyone can ever do in life is to save monthly expenses. money and establish a substantial emergency fund because anything can happen. For me, it was Start now financial and employment but it can be health or natural disaster. You have no Idea what kind of life trauma is waiting for you when you leave the house in the morning to start your day. Having an emergency fund is an important step to take to safeguard your financial stability. The idea is to have money that you cannot touch unless you are faced with a major unexpected event.

Note the word “major”. Financial emergencies can come in the form of medical expenses, job loss, home maintenance and auto repairs.

Funeral costs and legal costs can also be a form of financial emergency. The last thing you want to do is to take out a loan just so you can pay off the emergency. You also may not qualify for a loan if your life event is unemployment.

Many people will argue against this strategy How much is enough? by saying that there is no way you can start an emergency fund while trying to pay off credit Exactly how much you should keep in your card and auto loan debt and starting a 401k for emergency fund is up for debate. But I would retirement. Please take my advice and stop the have to agree with most experts that claim that 401k and start the emergency fund. Start paying an emergency fund should be money worth three off your credit card debt and installment auto to six months of your living expenses. However, loans. Use every penny you have to get rid of this will still depend on a person’s situation, debt. Under no circumstances should you ever whether or not you already carry substantial finance a car. Pay cash and buy a used car. Start debt or if you have children you need to sustain. limiting your entertainment expenses to home activities and stop eating out.

But the less stable or uncertain your income is,

The Power Is Now MAGAZINE | 43

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FINANCE

Until you have an emergency fund, your 401k is an expensive emergency fund just waiting to charge you a 10% penalty for early withdrawal, in addition to the taxes they are going to take because what you have saved is no longer deferred.

Accumulating 12 to 24 month’s worth of expenses can be challenging and it will definitely take some time. But it is always better to start now than never. Start small by saving something manageable. Look at your monthly expenses and look for areas you can trim. Make it a habit of depositing regularly into the fund either on a weekly, bi-weekly or monthly basis. When you get your paycheck, automatically put some money into that fund and forget about it. After a couple of months, you’ll be surprised to know that you have achieved your goal after all.

Where to keep it?

about. We cannot control everything that happens to our lives but we can control how to deal with it.

Today, things are much better. I have a great job, great income and I have an emergency fund that I am building back up to a level I haven’t set yet.

My emergency fund will significantly exceed my previous emergency fund because I have learned from my past experience. Today I believe that I cannot save enough money, especially now that I am looking at retirement in the face within the next 15 years. My savings and my emergency fund were wiped out between June 2008 and June of 2013 because I underestimated how tough it would be and how long it would take for me to recover. We lived on our savings until it was gone and Hope was all that was left. And we all know that Hope is not a strategy. You need a strategy when property values drop, the unemployment rate increases, your tenants stop paying the rent, your job shuts down and your new job is 30% of your normal pay. You need a strategy and you need one fast.

One of the hardest things about keeping an emergency fund is actually keeping the money intact. It can be difficult to resist the temptation of getting a couple of dollars to buy something you Stay out debt and pay your taxes want. So instead of giving into the temptation, open a new savings account. It is easy to use and does not really cost you anything to maintain it.

Keep your emergency fund in a place that will be fairly liquid so that you can have access to the fund when you need it the most. Do not tie your emergency fund into stocks or mutual funds or put the cash in your sock drawer.

The good news is that once you have saved enough for the emergency fund, you can finally start putting money into investments or maybe better transportation. You will sleep better at night knowing that you do not have late fees, overdraft charges or missed payments to worry

september 2016

I learned many invaluable lessons that I am very thankful for today. The most important lesson I learned is that debt is a monkey on your back, and I mean all debt, which includes a mortgage, auto loans, and credit cards. It is now my priority to

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pay off my mortgage and I will never finance a vehicle ever again in my life. I will never carry a credit card balance more than 30 days if I use the card at all. My strategy is to stay debt-free and to live within my means. I have grown up and do not need all the trappings of success to feel successful and to be successful. Today I am more humble and more thankful for what I have and the people in my life than I have ever been.

Secondly, I have learned to pay my taxes. You can run but you cannot hide. It makes no sense to go into extraordinary mortgage debt in order to reduce your tax liability. It is a serious gamble with your life and just like they say in Vegas, “the house always wins” well the government always wins.

Buying a home does decrease your tax liability for as long as you are making the money to pay the payment. When the income stops it all comes crashing down like a house of cards. So buy responsibly and minimize the risk by not allowing more than 25% of your net income to go towards your mortgage payment, maintenance and utilities in total. This may mean that you need to rent for awhile until you save enough money or earn enough money to buy a home. If most people lived by this rule,

they would be living in much smaller houses or in different neighborhoods. But they are keeping up with the Jones’ and are going broke. One day, they will wake up from their narcissism and see the broke they can’t see right now. I want you to see it now. They also see the “broke” now but they are more concerned about the present and appearances than the future and their preparation.

There are many other lessons I have learned but you will have to catch me on my book tour.

So I am going to stop here.

We all need an emergency fund, but the days of “6 months of whatever it takes to take care of your household is the right amount” are over. You need no less than 24 to 36 months and then you can start saving for retirement. This is my opinion, especially if you are a highincome earner, because it will take you longer to find a job. So if you need 3k to 5k a month to take care of the household expenses, then that means you need to have 180k in a very liquid and accessible bank account. Now I know what you are going to say: “There is no way I can save that much money.” So my answer to you is to live a more frugally and save more money. Maybe 12 to 24 months will do it for you if you

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really cut back on spending— but you will not. 5k a month for a family is not a lot of money but I know many people who have been out of work for over two years or became ill and cannot do the same kind of work that they used to do.

An emergency enables you to have a soft landing. It buys you time to figure out what you are going to do. It gives you time to liquidate other assets, including your home, without the stress and the vultures who know your circumstances and offer you fire sale prices. I know many people are going to disagree with the numbers I am proposing. I am just telling you what I have experienced and how I am preparing myself for the future. My new problem is that I am in such great shape because I eat right and exercise that I am worried now about living too long and running out of money at the same time the government does. Save your money and your money may save you when you need it the most. Your Power Is Now because The Power Is Now.

By Eric Lawrence Frazier MBA

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Name: Eric Lawrence Frazier MBA CA BRE # 01143484 | NMLS # 461807 Website: www.thepowerisnow.com Call me for details: Website: www.thepowerisnow.com Email: eric.frazier@thepowerisnow.com E-mail: eric.frazier@thepowerisnow.com Video Chat: https://zoom.us/j/5443077305 ERIC LAWRENCE FRAZIER MBA Mobile: 714-361-2105 CA BRE: 01143484 | NMLS 461807 Direct: 714-475-8629 Office: 800-401-8994 ext. 703 The Power Is Now Inc.O: 800-261-1634 x 703 Fax: 800-401-8994 CA BRE: 1980407 | NMLS 1435243 F: 800-261-1634

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Eric Lawrence Frazier, MBA is aand California Licensed Loan lender. OurCA corporate is located at: 3739 6th Street Riverside, CA 92501.

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