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#ChooseToChallenge: Celebrating Our Women Who Are Challenging the Status Quo!

CELEBRATING WOMEN HISTORY MONTH Page 128

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MARCH 2021 Vol. 08 | Issue 3

JANET YELLEN:

U.S. Secretary of the Treasury Page 76

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contents

MARCH 2021 Pg. 18 The 2020 Housing Disruption Was a good one to pave the way for The Future of real estate.

POWER LENDING Pg. 20. Education For Borrowers: 5 CARES ACT details you should know about. Pg. 22. It Seems the market is back on track! Stop waiting, hurry Up!

POWER TECHNOLOGY

Pg. 24. How COVID-19 reshaped AI adoption in the mortgage industry. Pg. 26. Reinventing the Wheel: How Lenders can take charge of the quality control processes.

feature story POWER GREEN Pg. 8. The Climate Promise: Dealing with toxic unfunded Superfund sites. Pg. 10. Rewriting Our Wrongs: It’s Almost five years after exit from the Paris Agreement, how did that affect us?

POWER ECONOMICS Pg. 12. We don’t know what to do!’ The Cry of the Unemployed In the U.S. Pg. 14. The Survival of The Fittest: China Set To Overtake The U.S. Earlier Due To Covid Fallout.

Pg. 28. #ChooseToChallenge: Celebrating Our Women Who Are Challenging the Status Quo!

IN OUR CENTRAL EDITION:

Pg. 37. 5 ways tenants, owners can seek credit enhancements on a commercial lease, by Steve Peterson. Pg. 41. 5 fast ways to come with a down payment, by Johnnie Morine.

IN OUR EAST COAST EDITION:

Pg. 47. Appreciation rate trends and housing market data, by Emerick Peace.

POWER REAL ESTATE

Pg. 16. Reviewing the Quarter: Real estate prices are rising faster in More than a Decade. 4

The Power Is Now Magazine | MARCH 2021

Pg. 51. Some Florida hottest markets in 2021, by Adriana Montes.

IN OUR WEST COAST EDITION: Pg. 57. Arizona Housing Market: A Review of the first quarter and looking beyond, by Yvonne McFadden. Pg. 61. How Safe is the Arizona Housing market: Are all buyers catered for?, by Peggie Simons. Pg. 65. Corona Housing Market: Trends for the next quarter and beyond, by Kamesha Keesee. Pg. 69. Will 2021 be a good year for real estate in Southern California?, by Ameer Elahee. Pg. 73. At Glance: Prop. 19- State offers guidance on new property tax transfer law, by Ruby Frazier.

Pg. 76. About Janet Yellen: U.S. Secretary of Treasury of the U.S.

Pg. 82. Here’s why you need to invest in Irvine Real Estate market in 2021, by Julius Cartwright. Pg. 85. The five facts you need to know about VA Loans, by Jenny Gonzalez. Pg. 89. San Bernardino County Real estate sales trend for Q1 2021, by Danon Burnside. Pg. 91. Planning to sell? Here’s the ultimate checklist to make the house more appealing, by Denise Matthis. Pg. 94. The Bay Area Housing Market: Projecting the future of Bay Area Housing Market, by Kenneth Session. Pg. 97. Looking for a place to stay? Sacramento County is the go-to place!, by Robert Langston. Pg. 101. Understand your Loan Options: Secured Vs. Unsecured Loans, by Briana Frazier. www.tHEPOWERISNOW.com

Pg. 105. The Future of LA Housing Market may be in Condos!, by Adrian Bates. Pg. 109. Use These 5 Tips to Help with your Rental Application in 2021, by Success Money. Pg. 113. Richmond VA Real Estate Market & Investment Overview, by Joe Fischer.

POWER LEGAL Pg. 112. 32. CFPB well positioned to oversee fintechs, task force says.

POWER MORTGAGE Pg. 118. Underwriting Standards Likely to Tighten and Negatively Impact Housing Indicators. Pg. 120. 8 outrageous 2021 predictions for the mortgage industry.

POWER HEALTH Pg. 124. High-Poverty Neighborhoods Bear the Brunt of COVID’s Scourge.

POWER HISTORY Pg. 124. 36. Women’s History Month: Rightfully Hers- American Women and the Vote. l

FROM tHE EDITOR

he first quarter of the year 2021 is down! Welcome to March and if you like longer, sunny days, then you should be happy with this month. This the first month of the spring season which means, animals are already starting to come out of their hibernation. We kick off the month with the Zero Discrimination Day that happens on the 1st day of the month. With the protests that happened last year over the killing of innocent black people, I do not expect to see anything like that this year! But anyway, I am glad to announce that we are already making positive progress here at The Power Is Now Media, Inc. Next month, we are going to have a new show, The Bryan Repple Financial Show that teaches people good money management skills. Bryan Repple is the managing partner of Repple Wealth Group, the Financial Planning practice for G.A. Repple & Company. He joined G.A. Repple in 1998, and for the past 22 years, he has had a passion for learning, teaching, and sharing financial principles. He has trained financial planners all around the country and spoken on national platforms. This is a show to look forward to learning about financial literacy. On the cover, this month is one phenomenal woman, and by the way, did I mention that this month is Women International Month? Well, it is, celebrated on the 8th and mothering Sunday on the 22nd. 2021 marks exactly 103 years of women’s suffrage. And as such, we thought it fitting to devote this issue to our inspirational women, mothers, sisters, grandmothers, aunts, nieces, and daughters. To all women in the world, this one is for you! Speaking of inspirational women, I feel like this year is a year of women doing great things and breaking all barriers in our country. First, we had the first female vice president, I am not going to go into much detail about her story, as you can find this story in our previous issue, and now we have the first female Secretary of Treasury, Janet Yellen. Such a powerful woman, in fact, she has been ranked among the most powerful women in the world by Forbes a couple of times. Also, in keeping up with this month’s theme, we’ve been busy profiling all the women VIP Agents affiliated with The Power Is Now Media. Such powerful women doing amazing things, you can find this and many other stories about phenomenon women only on this issue. On to some other news, the United States is finally back in the Paris Agreement. Finally, Joe Biden seems to be making all the rights moves so far and this is important the Paris Agreement is a pledge by the big nations to reduce their carbon footprint. Remember, the last decade has been hectic with ravaging wildfires and catastrophic hurricanes all as a result of our negligence to the environment. With the U.S. now back on track, I think this is will be a saving grace to us as a nation. This issue also looks at the past year with a special focus on the housing market. 6

The Power Is Now Magazine | MARCH 2021

While 2020 was a bad year for many people, I don’t think it was that bad for the real estate industry! The article, “The 2020 Housing Disruption Was a good one to pave the way for The Future of real estate,” tells you why we think the disruption was a good one and how it is reshaping the future of the real estate. Speaking of real estate, this issue spotlights several counties including Arizona, Oakland, Richmond, and San Bernardino bringing you useful insights, trends, and the things to expect in 2021. in addition to that, find out more about the CFPB and its stance on the fintech industry as well as the new underwriting standards that are likely to tighten and how this move will impact the housing market. This issue is information-packed and I can say with confidence that this is one of the resourceful magazines that you will ever find. we leave nothing unturned making sure that

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you are informed all through the month. here, you will find valuable information as a buyer, seller, or investor that will help you make informed decisions. as such, take a moment to read and share our current issue. Like us on Facebook and follow us on Twitter to keep interacting with the Power Is Now Media, Inc. You have the power to change anything and everything in your life but you have to seize the power because the Power Is Now. it is with this note that I send you love, warmth, and the March Sunshine your way. Always remember, “we are at our best and we maximize our success when we act now!”

Eric L. Frazier MBA President and CEO The Power Is Now Media, Inc.

The Climate Promise:

Dealing with toxic unfunded Superfund sites

joint report published on December 28, 2020, revealed the pressure that President Joe Biden (who was then President-elect) was already facing to deliver on his environmental justice campaign promises— specifically when it comes to the 34 Superfund sites across the country which lack reliable cleanup funding. Superfund sites in the US are locations contaminated with hazardous chemicals as a result of industrial activity. The Superfund sites are identified and barricaded from the public for safety purposes.

With the trust fund gone, the term ‘Superfund’ turned to refer to a drastically underfunded federal program responsible for ensuring the toxic-sites’ contributors do the cleanup. This means that the Environmental Protection Agency (EPA) has to shoulder the financial burden by using budgeted funds to clean up toxic sites while the responsible entities no longer existing or are nowhere to be found. On top of the 34 Superfund sites that lack reliable funding for cleanup, the Biden administration will also assume responsibility for 945 Superfund sites identified last year by the Government Accountability Office as being vulnerable to climaterelated disasters such as hurricanes, flooding, wildfires, and rising sea levels. 8

The situation during the Trump administration. An investigation on the Superfund program conducted by InsideClimate News, NBC News, and the Texas Observer revealed that EPA under the Trump administration largely abandoned climate adaptation plans established by the Obama administration and scrubbed off the words “climate change” from the agency’s five-year strategic plan. “With Biden at the helm, EPA will once again be guided by science, and climate change will be a major consideration in all agency actions,” said Sen. Tom Carper of Delaware, a close Biden ally and the ranking Democrat on the Senate Environment and Public Works Committee. The Power Is Now Magazine | MARCH 2021

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To facilitate the clean up of these contaminated sites, the Federal Superfund program was established when Congress passed the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) in 1980. The act required cleanup efforts to be paid for by a trust fund created from taxing industries such as chemical and petroleum industries that contributed pollution to the Superfund sites. However, lawmakers scrapped the tax 25 years ago.

“Communities located near Superfund sites are disproportionately communities of color or economically disadvantaged communities, and those communities would also be more vulnerable when a Superfund site is compromised by a flood, hurricane, wildfire or another extreme weather event,” Carper said. “Fortifying Superfund sites from the risks of climate change is not only a matter of good climate policy, it’s also a matter of environmental justice.” Biden, who picked Michael S. Regan secretary of the North Carolina Department of Environmental Quality, as EPA administrator, pointed in a campaign position paper that he’d create an Environmental and Climate Justice Division within the Justice Department to tame environmental polluters. Biden further pointed out that he would also create a “climate and economic justice screening tool” to identify communities threatened by the cumulative impacts of climate change, racial inequality and “multi-source environmental pollution.”

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Biden’s focus on climate change and environmental justice generated so much optimism among Americans. Could this be what we’ve been waiting for? Could this be the moment we’ve all been waiting for someone to turn around climate action and take real actions? Biden made the climate promise. Let’s keep our hopes high that he’ll accomplish.

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Senate Democrats, environmental experts, and former EPA officials aired their expectations for the Biden administration’s will to create a new momentum by immediately re-introducing the Obama administration plans for factoring climate change into its site cleanups plans. During the campaign period, Joe Biden promised to take bold climate action focusing on frontline communities. Biden’s $2 trillion green energy and environmental justice plan, disclosed in July 2020, attracted many praises from various activists including Varshini Prakash, co-founder and executive director of the youth-led Sunrise Movement.

Work cited. https://www.nbcnews.com/news/us-news/biden-willinherit-hundreds-toxic-waste-superfund-sites-climatethreats-n1252276. l

scientificamerican.com

Rewriting Our Wrongs: It’s Almost five years after exit from the Paris Agreement. How did that affect us? What did we miss? And What does it mean for the future?

“A world that is safer and more secure, more prosperous, and more free,” are the words

of former US President Barack Obama in December 2015, as he envisioned a world today’s children would be living in. Obama said these words when he announced that the US, along with other nearly 200 countries worldwide, had committed to the Paris Climate Agreement, which 10

aimed at a joint and ambitious global action plan to fight climate change. Indeed, we all would want our children and our grandchildren to live in such a world. But was this really meant to happen? Not so long after, when on June 1, 2017, former president Trump put that in jeopardy when he announced his administration’s plan to withdraw the country

from the accord, as part of a larger to disassemble decades of US environmental policy. The Trump administration plan later became official on November 4, 2020. Under the Paris Accord, countries are committed to voluntary reductions in carbon emissions to keep global temperature increases below 3.6 degrees Fahrenheit (20 C), a level that the

The Power Is Now Magazine | MARCH 2021

The deal also commits countries to evaluate progress toward their goals and submit updated carbon reduction plans every five years. However, former President Trump chose to abandon all that, citing that the Paris Accord would impose unacceptable costs on the US economy and provide unfair advantages to other countries such as China and India. Instead of coming up with a better plan to combat climate change, Trump instead chose to do the opposite. Trump emphasized the expansion of US fossil fuel production through his “America First Energy Plan” that focuses on reducing oil price, achieving energy independence, tapping domestic oil sources, and generating energy-related jobs by reducing regulations. Moreover, Trump pledged to end what he termed as wasteful payments to the United Nations Green Climate Fund, where the US had pledged to grant $3 billion and had already paid $1 billion.

What has the Paris Agreement achieved so far?

There is no doubt that the US withdrawal from the Agreement brought significant setbacks to the efforts of the accord, considering the US is the second-highest carbon emitter. However, that doesn’t mean the efforts of the other member countries who chose to stick to the plan were futile. In fact, they’ve achieved a lot in that almost fiveyear period. Below are some things the Paris Agreement has achieved so far: •

Normalizing 1.5C- the Paris Agreement, through the Intergovernmental Panel on Climate Change, has been able to establish 1.5C as the aspirational limit on global temperature rise. This came after island states argued that 1.5C was essential for their survival while big powers declared that 2C was the

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moderate and reasonable target. • Normalizing net zero- net zero emissions rapidly become a trending word in 2020, with China, Japan, and South Korea joining the EU and UK in setting neutrality goals. • Clean energy shift- the Paris Agreement sent the signal that triggered the financing landscape to shift decisively in favor of clean energy. More and more nations and firms are slowly shifting and investing in clean energy. • Institutional change- the Paris Agreement has set the stage where more institutions, from financial regulators and city authorities, are embedding the Agreement’s target and principles in their policies, therefore, generating new avenues for accountability. Looking into these achievements, one can indisputably argue that the United States missed out on most of them since they were out of the deal.

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assembled nations warned could result in an “urgent and potentially irreversible threat to huma societies and the planet.”

What does the future look like?

With a new administration in the US, the future has never been brighter. During the campaign period, President Joe Biden pledged to rejoin the country back to the Paris Agreement. And true to his word, on his first day as the US president, Joe Biden formally started off the 30-day process of rejoining the US back to the Paris Agreement. President Joe Biden’s move is good for Americans and the future of their children and for the rebuilding of diplomatic relations that the former President had destroyed.

Work cited. https://www.cfr.org/backgrounder/consequencesleaving-paris-agreement. https://www.climatechangenews.com/2020/12/09/fiveyears-five-things-paris-agreement-achieved-didnt/.

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‘We don’t know what to do!’

The Cry of the Unemployed In the U.S.

he rate of unemployment is unprecedented; over 12 million Americans are facing many dilemmas due to their financial situation and can’t seem to figure out the way forward. In Mach, the government approved over $2.4tn economic relief for households and businesses. This relief was meant to reduce the country’s economic distress, which arose in the country due to the pandemic. Over twenty million Americans were out of work, and the country’s unemployment rates rose by 15%. However, since the previous economic relief, there has been a reduction in support from the government. Programs and benefits which were enjoyed by many people who were out of work have begun to expire; many of these key programs expired in December. Andrew Stettner, who is a senior fellow at the Century Foundation, recently stated that it is unprecedented for progress to allow so many people to be put out of work at once. 12

A recent estimate shows that over four million people had lost their benefits, with millions more standing a chance to get cut off soon. This situation is not particular to some states as workers around the country have been plunged into the same circumstance due to the country’s economic shutdown. While many were able to claim some benefits, many continued to struggle without options as they were found ineligible for many of the benefits. This pandemic turned out to be an overwhelming blow to families and communities. Businesses face bankruptcy due to the shutdown of stores and factories. Lives have been put on hold, and many people find themselves at the edge of poverty with no plans whatsoever about how they would put food on their table or make the rent.

Economic Recovery Has Slowed

The country regained some of the jobs lost when stores, schools, and businesses were reopened The Power Is Now Magazine | FEBRUARY 2021

during the last spring; The economy recovered much faster than many economists feared and seemed on the path to making a full recovery. However, as virus cases began to climb once more and hospitalization records increased, the job gains have slowed. This has put a hold on economic recovery. The government has taken back its support from many people who are beginning to face rent issues as well as falling behind on bills. The short term impact of this situation will be economic deprivation if necessary action is not taken. As over seven million people fall into poverty, there has been an increasing call for much-needed government support.

A Division Between The Democrats and The Republicans

The uncertain state of the economy due to the high unemployment rates in the country has led to a division between the democrats and the republicans. Even though UK and Canada have taken measure to increase the pandemic aids, economists in the US has also made a call for more economic relief as an aid to the unemployed would increase the overall US economy. Democrats are pushing for more money that Republicans believe is needed, and due to the division, there has been little progress to extending pandemic aid. The argument has also led to a congressional impasse. There are talks about the need for action with no action being taken. Many people hope that the unemployment assistance arrives in time alongside other reliefs to assuage the unemployed’s fears. Till action is taken, desperation continues to grow amongst the unemployed alongside uncertainties about how to survive the coming days. Many of the unemployed are seeking advice on how to get through the situation and find it all frustrating that the government took away the assistance because they don’t understand its importance to those who need it.

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2021 Virtual Mid-Winter Conference March 3-6, 2021 General membershi p meeting (virtual) March 3, 2021 NAREB 74th Annual Convention July 28, 2021

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NAHREP National Convention & Housing Policy Summit April 13-15, 20-22, 2021 NAHREP at L’ATTITUDE September 29–October 2, 2021

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AREAA DIVERSITY & FAIRHOUSING SUMMIT April 28 - 29, 2021 NATIONAL CONVENTION October 7 to 9, 2021

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November 10 - 15, 2021

The Chinese economy has always been in close competition with the U.S economy. In recent months, the Chinese economy has been set to overtake the U.S much more quickly than was anticipated. This is because China was able to weather the COVID-19 pandemic much better than the West could achieve. China has maintained its spot and the secondbiggest economy, and it is on the course to trade places with dollar in 2029. This new development is coming five years earlier than was predicted.

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he World Economic League Table predicted this and also predicted that by 2023, China would already be a high-income economy. To promote the growing might of Asia in the economy, India is fast moving up the rank and is predicted to be the third-biggest economy by the end of the decade. Last month, Chinese President Xi Jinping confirmed that it was entirely possible for the Chinese economy to double in size by the year 2035. He stated that this is made possible by the new Five-Year plan put in place by his government. This plan put forward by the Chinese government has a goal is to accomplish modern socialism in the next fifteen years. China was the first economy to suffer a pandemic blow as the virus is known to have stemmed from Wuhan However, the economy has surprisingly recovered speedily. This result is meant to prompt the Western economies to pay more attention to what is going on in Asia. Most times, the U.S compares itself to other western economies and end up missing out on the best practice to promote the economic growth. This is apparent by the rapidly growing economies in China, India, and other Asian countries. 14

The Survival of The Fittest: China set to overtake the U.S. earlier due to COVID fallout

The Power Is Now Magazine | MARCH 2021

One of the steps China is using is delisting companies from the stock exchange; this is to facilitate the survival of the fittest. This is a U.S. style system to make the listing much easier for the start-up board. The belief of the Chinese government is that when the entrance is widened, the exit needs to be widened as well. This new improvement is meant to promote the country’s investment culture as most times, people would buy dilapidated companies that are listed with the hopes that it wouldn’t be delisted.

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Some of these companies end up deteriorating become of mismanagement and also the inability to adapt to the changes in the economic environment. Once such companies are removed from the stock exchange, the market will evolve and become much healthier. The private sector in China is also restructuring, and this makes it possible for China to retain a large share of the world export. This goal is set to be achieved despite the rise of material costs and wages globally. The restructuring of this sector is due to exposure to global quality standards. Because of the COVID fallout, the Chinese government is set to overtake the U.S. economy in every sector, including technology. Huawei is

an example of that, with this smartphone brand being the 5G technology leader and the secondlargest smartphone maker in the world. The fallout has made the Chinese government aware that depending on US technology puts them at certain risks. This has also driven the goal of becoming independent from the US and is stepping up technological research and development to achieve this feat. As the private sector is restructured and plans are being put in motion to restructure the public sector because one cannot be revived without the other, this country is set to unleash a huge burst of productivity growth that will further facilitate and cement its position as the world largest economy in coming years.

Reference https://www.bloombergquint.com/global-economics/covidfallout-means-china-to-overtake-u-s-economy-earlier https://www.bloombergquint.com/markets/survival-of-fittestsharpens-china-s-private-firms-as-soes-lag https://www.reuters.com/article/us-china-market-delisting/ delisting-surges-in-china-as-beijing-adopts-survival-of-thefittest-approach-idUSKCN24G0YA

Reviewing the Quarter: Real estate prices are rising faster in More than a Decade

he housing market was hot in 2020 with historically low mortgage rates and a sudden relocation wave triggered by the need for more space as lockdowns took effect and people forced to work from home. At the same time last year, home prices were increasingly pushing to new heights as the thousands of homebuyers flooded the market to compete for the few homes available. Stepping into a new year with a lot of hope, the situation doesn’t look so much different.

striking. Much of it likely to do with the pandemic and the ability to work from anywhere now.” According to Diana, people are heading to less expensive markets where they can buy homes with more space and land. However, this new wave is making these markets in the middle less affordable. Consequently, the benefits of the record low mortgage rates which are targeted to help homebuyers afford to buy homes are getting wiped out by the rising home prices.

Are you thinking of buying a home this year? Well, there’s something you need to

“At the end of 2020, homes in more than half of the counties in the nation saw home prices rise so fast that they become far less affordable than their historical levels— that’s according to Adam Data Solutions,” Diana says. “and that’s a significantly larger share that the same time the year before or pre-pandemic.”

consider. Records have revealed that prices are rising at the fastest pace in more than a decade. The upward trending of home prices seems so have picked momentum somewhere towards the end of last year. Home prices surged by more than 8% in October 2020, compared to the same time the previous year, according to data from a leading national index. This has been mainly contributed by the simple supply and demand rule; a rush of pandemic-fueled buying, alongside the limited number of housing inventory.

What did the predictions say?

“We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s already high levels,” Realtor.com chief economist Danielle Hale said in December last year. “While we expect mortgage rates to tick up gradually, sales and price growth will be propelled by still strong demand, a Usually, the surge in home prices is fastest along the recovering economy, and still low mortgage rates. High coast of the country. But we’re still in the middle of buyer demand and still-lagging supply will keep prices unprecedented times. So, it’s not business as usual. growing, but at a slower pace than 2020 as buyers This means that the rise is currently not fastest contend with mortgage rate and price increases that along the coast. Where is it? create affordability challenges.” “While younger Millennial and Gen-Z buyers are expected to play a growing role in the housing market, fast-rising prices will create a bigger barrier to entry for the many first-time buyers in these generations who don’t have existing home equity to tap for down payment savings,” Danielle added.

“For decades, home prices have surged along the coast in big cities like Boston, New York, Miami, L.A., and San Francisco, and they’re still going up there. But it’s the middle that is the new star,” Diana adds. “Prices are up by more than 10% from a year ago in cities like And true to that, it’s already happening. I think the Indianapolis, Kansa City, Boise, Austin, and the three best thing to do here is to brace ourselves for a biggest cities in Ohio. Also, both Memphis, Knoxville, hotter market in 2021. and Tennessee saw very strong gains. These have all been historically more affordable markets and markets Work cited. https://www.cnbc.com/video/2021/01/04/home-prices-rise-at-fastestthat generally have a much bigger supply of homes rate-in-more-than-a-decade.html?__source=flipboard. available for sale. That makes the suddenly strong price https://www.forbes.com/sites/brendarichardson/2020/12/16/expertspredict-what-the-housing-market-will-be-like-in-2021/?sh=2f878ce036dc growth in the middle of a country that much more 16

The Power Is Now Magazine | MARCH 2021

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“One word— the middle.” CNBC’s Diana Olick says. “It’s the new coast if you will.”

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The 2020 Housing Disruption Was a good one to pave the way for The Future of real estate

hile the pandemic had so many destructive impacts on the housing market, it still holds the other side of the coin. When you flip the coin, the question arises; could the housing disruption caused by the pandemic be a good one to pave way for the future of real estate? Could the disruption be more constructive than destructive? I mean look at all the introduction of new processes and technologies that came with it that we may have assumed were still few years away. To start off, let’s look at originations and delinquencies. According to Mortgage Bankers

Association (MBA) reports, mortgage origination volume is expected to reach the $3.2 trillion mark, with the largest refinance market since 2003 and the largest home purchase loan market since 2005 and 2006. And since we’re still in the midst of unprecedented times, which came with unexpected levels of unemployment thus increasing delinquencies. With an increase in unemployment and declining incomes, borrowers stop buying homes and focus shifts to requesting for forbearance or homeownership assistance. At this point, the mortgage industry’s focus shifts from helping home buyers to helping homeowners keep their homes. The Power Is Now Magazine | MARCH 2021

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2020 was certainly a tough year. The pandemic and all that came with it left unforgettable marks to most of us, especially those in the real estate market. As we look forward to a better 2021, we shouldn’t just toss away the previous year without taking a critical look at the impacts of the pandemic on the housing market, and how it will clear the way for this year and beyond.

However, this wasn’t the exact situation in 2020. It’s been a challenge for the industry to wrap around its arms around this unprecedented market and the disruption that comes with it. Unlike every pattern before it, 2020 featured high level originations on one hand, and all-time high delinquencies on the other. In other terms, on one side, 2020 featured employed borrowers who had the capacity and the will to take advantage of the historically low interest rates to purchase homes or refinance an existing loan. On the other end, it featured unemployed borrowers who had easy access to homeowner assistance programs to help them keep their homes.

the real estate market such as the appraisal sector. Recently, desktop and drive-by appraisals have been the go-to appraisal processes for homes and which enabled the mortgage lending process to continue. Moreover, the increased use of technology in the pandemic era supported a shift in industry roles. This came as originators increasingly continue to smoothy transition into loan counselors rather than paper shufflers. Conclusively, 2020 also was a perfect lesson that revealed that where unprecedented challenges show up in the housing market, the best thing to do is come up with unprecedented solutions.

The pandemic period forced the housing industry to adopt technology in almost all aspects of the market, some of which might have previously thought to be impossible. With the unprecedented times set to continue, the best thing that will ascertain the survival of the housing industry is to encourage and innovate consistently for a better 2021 and beyond.

Work cited. https://www.housingwire.com/ articles/2020-housing-disruption-pavesthe-way-for-years-to-come/.

What does this mean for the 2021 real estate market? With all that now on record, you may be wondering where the industry is headed from there. How much of 2020 will continue in 2021? The industry can take many paths this year, but certain things that were adopted in 2020 amid the pandemic are here to stay. One such thing is the utilization of technology to reduce process friction in the real estate market which is bound to keep surging and spreading across the different aspects of the market. The use of technology significantly and positively impacted some aspects of www.tHEPOWERISNOW.com

Education For Borrowers: 5 CARES ACT Details You Should Know About

ue to the pandemic, many people are uncertain about how mortgages would perform. There is usually misinformation about the public loss mitigation requirement, and this inconsistent information has only worked to make the situation worse. This is due to the nature of the health crisis and the need to promptly respond to it. Luckily, the Coronavirus Aid, Relief, and Economic Security Act has been put in place, and this has made it much easier to mitigate laws. However, many people are not fully made aware of what the CARES Act is about, and below are five CARES Act details you need to be aware of.

Not Everyone Needs A Payment Holiday

Many people are of the opinion that the payment pause for coronavirus hardship takes away their obligation to make payment at the period because it is free of penalty. However, this is not the case; this pause is only available when requested for certain loans, and borrowers would still have to pay the loan up. If you can pay your mortgages without a need for payment pause, then it is best you do it. Pausing payments does not make the loan go away; you will still have to pay the loan off fully. Loans Not Given Coverage By the CARES Act Are Usually Handled in Other Local Laws Companies

The Power Is Now Magazine | MARCH 2021

Payment Relief is Always Available

Even where there are no laws directing companies to offer payment referrals, some companies might choose to offer payment deferral options and several other kinds of assistance to borrowers. The Bank of America is one of them; they offer a three-month payment deferral to borrowers without any form of penalty. People simply need to make an online request or call in for the assistance to be offered. The Bank states that the payment deferral may extend as long as the crisis last if there is a need for it.

There Are No Repayment Paths Stated by the CARES Act

It is crucial to note that the CARES Act only ensures that loan services do not penalize borrowers who defer payment during the crisis. However, the Act isn’t clear on the next course of action once the deferral period ends. Many companies servicing loans are setting plans in motion for how they would handle such cases of payment default after the forbearance period is over. The Bank of America has made plans to add the deferred payment to the end of the portfolio loan’s term and then increase the regular payment by the deferred amount.

Accommodations With The Coronavirus Gets A Pass on the Credit Records

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Although payment deferrals are meant for federal loans, the CARES Act has also provided accommodation for other forms of consumer debt. Under the Cares Act Requirement, borrowers who stay within the accommodation term are stated as current on their reports. The accommodation covers many things, including loans that are not federally backed; it could range from a credit card loan to an auto loan. As long as the lender makes accommodation and meets the agreement, the CARES Act states that they are required to report you as current. Interested borrowers can check their credit records to see if they meet the requirement and are therefore eligible for the accommodation.

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that service loans that are not eligible for payment relief under the CARES Act would still need to provide a COVID-related deferral to the borrower if the borrower who took out the mortgage stays in a jurisdiction where such payment deferrals are required. New Yorkers are one of those who enjoy such coverage under the local law. New York has a three months payment deferral law covering all its residents.

Reference https://www.nationalmortgagenews.com/list/5-cares-act-detailsmortgage-servicers-must-ensure-borrowers-know

It Seems The Market Is Back On Track!

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Stop Waiting, Hurry Up!

urray! The real estate market isn’t joking this time. According to The realtor.com, the housing market recovery index reached 103.4 nationwide last week, showing the most remarkable recovery in Las Vegas, Denver, Los Angeles, Boston, and Portland. It seems people’s savings during the lockdown are gradually paying off. Following the Covid-19 pandemic’s hard hit on the overall index, which tracks movements in new listings, buyer demand, time on the market, and prices, seller activity remains restrained. In contrast, buyer activity has shown a gradual increase, a promising one, over the last week. 22

Don’t Ask Questions, Just Invest I understand that you may be uncertain of how the market will be if there will be hope for the appreciation value of a property you buy if you are making a good deal, but now isn’t the time for such questions. You can always buy a property, maintain it to taste, and then sell it later with an increased value. You can decide to buy a house with your luxury money and watch it multiply as the economy comes back and people scamper to purchase homes. You may also decide to sell the one you have, add some money and invest in something. With good management, you won’t have a bad deal. Let Me Wait A Little You will be conning and denying yourself a big chance to earn big if you decide to wait a day more. Despite a low inventory count, the real market is gaining. Since we do not know how long the inventory will remain low, you should buy The Power Is Now Magazine | MARCH 2021

now, so once there is competition in the market, your pocket will smile with satisfaction. Now, this is what waiting might cost you: •

•

A chance to grow your worth by purchasing property no matter how small: You should understand that there is a greater chance of making more profit in the future from a property you buy now. No matter how small, you will not sell it for the same price you bought it. Real estate properties appreciate with time, and you can decide when to sell them. A chance to save: the best way to save your money is to invest it. Here, you can use all your savings to purchase a real estate property and relax your mind. This is because you can always convert your asset to cash, as the real estate market is readily available for buyers and sellers.

Do The Right Thing You know, many people are still recovering from the 2020 pandemic shock and may have little or no interest in what is going on in the market. The stay-at-home law will accumulate a lot of expense; children will be born, people will take-up more significant responsibilities, others will find

the need to expand their homes to accommodate their office, there will be migration: seeking new jobs and changing homes to new places (away from haunting memories and other private reasons), and these will inadvertently lead to a pursuit of new and bigger homes. This is just the story of one man, but many persons will be looking at it the same way. The competition will lead to a hike in prices, and it will continue to increase. Prices of residential areas will not reduce this year; it would rather be the opposite. You have a chance to own and/or rent a property if you hit the market now with your money. Consider the future and what it holds. The lockdown gets soft, and businesses reopen the need for offices and other activities like saloon and gym, and even startups creating a space for themselves in the economy. The possibilities are endless, and an apartment is crucial for such expansions. Do the right thing!

References https://www.realtor.com/research/tag/housing-marketrecovery/ https://www.bing.com/search?q=real+estate+market+predict ions+2021&FORM=QSRE1&PC=LNCH10

How COVID-19 reshaped AI adoption

in the mortgage industry

The

migration to AI-driven technology is briskly dominating the mortgage industry with businesses turning to machine learning to boost efficiency during this pandemic period. With many businesses also adopting remote workforce and the housing market booming, the AI technology is a significant way to create a competitive advantage to stay afloat. The AI-powered technology significantly boosts your customer experience, cut reliance on labor-centric solutions and aid in smart decision making. The AI technology has significantly reshaped the mortgage industry in so many constructive and unique ways. There’s a huge difference between a mortgage industry relying on AI and the mortgage industry as we knew it. To begin with, AI-driven processes play a significant role in streamlining and standardizing data. “When we talk about AI, what we’re really talking about is applying algorithms based on our knowledge and understanding of the industry to ingest information more consistently to help make better decisions. Over time, the data set grows and we can make better decisions based on that information,” Arbertelli Law CEO Jim Albertelli says. When it comes to automating the helpdesk and decision making, the best way to do it is through the AI technology. “We’re applying AI initially to the help desk functionality. This allows us to take in data that examines how consumers communicate.” Jim says. “Do consumers prefer Facebook Messenger or do they prefer some chat, email or even a telephonic conversation? Then we reach out using the appropriate methodology so we can start the conversation.” “With our reps, we have the ability to look at all of the different standards or responses and quickly glean that information out of that large knowledge base. Being able to provide better, more standardized information to all consumers alleviates some of the concerns around discriminatory effects and provides more transparency for your compliance team,” Jim adds. pixabay.com

Being strategic about what’s to come using AIdriven technology. Let’s take a scenario for example what’s likely to happen with people who are currently in forbearance plans. Since some people have not been actively making their mortgage payments due to the existing moratoria, they’re likely to start re-engaging at different times— some in January, others in much and so on. How can the mortgage industry use AI to be strategic about what’s to come such as in the case above? “We’re leveraging AI in a number of ways. Ultimately, we believe in the digital mortgage,” Jim says. “When you have consumers, even intersecting in the call center, we’re developing the ability to decide at high volume around the various loss mitigation strategies. When you have all of the lending standards all digested, you really can become an active partner with the consumer.” “So, we’re running the AI over portfolio retention, looking at the likelihood of a foreclosure in the future or the ability to re-perform. We’re digesting that information, and being scalable is really what we’re building between now and the end of the year,” Jim adds. And conclusively, Jim has something to all mortgage professionals out there about integrating AI: “What I really want people to understand is that you don’t have to change your system of record to interface effectively. AI can save time, help you with compliance and help you engage effectively with consumers. There are ways to get creative, to actually pay for it, to engage it, be very targeted. If you integrate AI even in a small way, you can get a big result.”

Work cited. https://www.housingwire.com/articles/how-covid-19-is-drivingai-in-the-mortgage-industry/.

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How Lenders can take charge of

the quality control processes

he banking industry is always under the watchful eye of both the government and private entities, and staying in compliance with all their regulations can be dreadful experience. However, having an effective quality control system in place for your bank or financial institution can be the foundation you need to streamline the process and enable your institution to more easily comply with crucial regulations concerning data, security, loan processing, among others. However, with the recent unprecedented times, the situation can be more mindnumbing. The recent pandemic conditions have significantly affected the quality control processes such as loan quality management. In a recent interview with the HousingWire, Trevor Gauthier, the ACES Quality Management CEO revealed that the situation wasn’t easy. ACES Quality Management helps firms improve productivity, efficiency, and quality while controlling costs through their quality management and control software. “It was bittersweet for us to be going through a pandemic and see the types of issues start to hurt the industry and bottleneck various parts of it,” Trevor said. “But at the same time, we were pleased to see lenders wholeheartedly embrace technology to increase their efficiency and maintain loan quality amid record-breaking volumes.” 26

How to take charge of your quality control process The best way to take charge of the quality control process in your firm is through incorporating a technology in your processes such as the ACES Quality Management and Control Software. Quality control technology comes with various significant benefits to your institution. “At ACES, we can get companies up and running in four to six weeks, so it’s not as burdensome for them to go through an implementation like ours as it might be with some weightier enterprise solutions,” Trevor said. “Our quick implementation process also helps operations departments speed up their QC and QA processes, which is critical for dealing with the kinds of volumes we’ve seen over the past six.” Why should financial institutions integrate quality control technology into their processes? According to Trevor, the most important reason to incorporate quality control technology in your processes is quality. “Lenders need to be proactive in their QC process and catch things before they become an issue,” Trevor said. “With ACES, we offer the ability to scale into all different parts of a financial institution’s business; we’re not just focused on loans. We can help them conduct

quality control audits for any part of their business and its operations. There’s a real strategic advantage to having a platform that can manage quality across the entire organization.” Moreover, integrating technology in your firm’s processes comes with huge return on investment. According to Trevor, institutions can get a lot more out their workforce from incorporating technology. “If an individual auditor is completing, on average, two audits a day using a manual or spreadsheet-driven process, that same auditor could be completing five, six, even seven audits a day with our platform,” Trevor said. “The presence of technology not only vastly improves efficiency, but it also saves the organization money by maximizing the productivity of existing resources and catching quality issues upfront before they become more costly errors when detected downstream.” With all that on record, you have no reason for not to being in charge of your quality control process. The time is now.

Work cited. https://www.housingwire.com/articles/ the-key-to-avoiding-costly-errors-amidrecord-breaking-origination-volume/.

The Power Is Now Magazine | MARCH 2021

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Reinventing the Wheel:

Frazier Group Realty Inc. 3739 Sixth Street Riverside, CA 92501

“Your Real Estate Navigator” www.fraziergrouprealty.com rubyfrazier@fraziergrouprealty.com F: (714) 908-7298 Lic# 01751773

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O: (951) 686-5261

#ChooseToChallenge: Celebrating Our Women Who are Challenging the Status Quo!

here is a popular Chinese proverb that says that women hold up half the sky. This couldn’t be any truer. Over the decades, we have seen women make such major moves, leaving the world perplexed. Take the COVID-19 pandemic as an example; we have seen womenled countries like Germany, New Zealand, and Bangladesh responding very well to the virus cautionary and prevention measures to the extent of receiving global praise. Kamala Harris has set a new record-breaking glass ceiling to become the first female, Black, and South Asian American Vice President. The 8th of this month marks the annual International Women’s Day, a special day for all women internationally. We decided to take a different turn from the norm spotlighting the role of women in the real estate industry. We could talk about the wealth gap between men and women and a whole lot of other issues affecting women especially the work-life balance, but, there are plenty of other sources where you can deepen your understanding of these highly debated topics. Rather, we want to celebrate women who have been with us over the past few years making up the special team of our VIP Agents. Truly, the last decade has seen a tremendous shift in the real estate industry, leading to more firms welcoming women leadership, and the growing inclusion of female talent. Here at The Power Is Now Media, Inc. we have a team of 11 VIP agents who are women, fully conceptualizing the philosophy that real estate is no longer a man’s affair. Today, we are going to look at their stories and what makes them special in their own special way.

Monica Hill

Monica Hill is the Founder and Broker of MVP Real Estate & Investment LLC. A Small Business Owned Business and Serves as the CEO of the Non-profit Support Organization -Mission Excel. Monica has been licensed in California for more than 20 years and runs a highly successful team of Certified, Licensed Commercial and Residential full-service Real Estate Professionals known as “The Dream Team”. She has been one of Southern California’s Top Residential and Commercial Investment Real Estate Brokers with her company completing over 1 Billion in Residential and Commercial sales. Apart from being the CEO of a budding and profitable company, Monica served 4 years as the President of the National Association of Real Estate Brokers Inland Empire Chapter and 1 year as the 3rd Vice-President The California Association of Real Estate Brokers over Education where she was instrumental in composing and conducting numerous Educational Training Seminars to enhance the knowledge of the ever-changing Real Estate Market to Real Estate and Financial Professionals Nationwide. And is currently the 2nd Vice-President of The California Association of Real Estate Brokers over Membership. Through her industry affiliations, she has assisted hundreds of individuals within the community with Home-ownership, Home Retention, and RealWorld Financial Education and assistance programs through Mission Excel and her H.E.L.P Counseling.

The Power Is Now Magazine | MARCH 2021

Adrian Bates

Adriane Bates is a superagent and the Founder of A-1 Realty & Associates Inc. the company has been in operations now for 7 years and is headquartered in Los Angeles which is also Adriane’s real estate backyard. Adriane Manages and operates real estate offices throughout the Westside of Los Angeles as well as select offices across the state of California. In addition to that, she has supervised over 250 real estate agents in the state of California, helped develop sell, and or lease properties used for Residential Housing and Commercial businesses, and also, helped to Compare and analyze properties for competitive market analysis to determine competitive pricing. Adriane actively oversees the process of residential purchase contracts to ensure a smooth closing for all involved and last but not least, she has helped Promote and create affordable housing throughout the United States and the World. Adriane has always been making major strides in the world of real estate. Between the years 2010 and 2014, she broke the set record at Keller Williams Realty, Inc, overseeing and managing over 275 real estate agents.

Adriana Montes

Being Phenomenal comes from within and if there is a woman who has proved this is Adriana Montes. Adriana is a real estate broker/owner and director of REO and short sales at Florida Dreams Realty Group. She is a dedicated professional with a long tenure in the default sector that includes many years’ experience servicing and selling large volumes of distressed properties. What makes her story remarkable is the fact that she is a self-made business owner who immigrated to the U.S. at the age of eighteen and built a real

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estate empire, achieving her American Dream. She is a strong believer in education, and with that, she obtained a Bachelor’s degree in Finance and Marketing, a Master’s in Business Administration, and has already completed a Juris Doctorate focusing on real estate and immigration law. Adriana holds an MBA, specializing in Non-Profits. She is a Luxury Home Specialist, a member of Five Star Federation of REO Certified Experts (FORCE), NRBA, NAHREP, NAREB, and AREAA.

Briana Frazier Cannon

For over 15 years, Briana has been helping people achieve their dream of homeownership. Broker Bree, as she prefers to be called and known by her clients, apart from being an exceptional real estate broker is also a property manager with the Frazier Group Realty, a seasoned full-service real estate company providing real estate services such as buying, selling, or leasing. She specializes in home buyers and home listings. She has sold millions of dollars in real estate and takes pride in helping first-time buyers enter homeownership. Briana has a Bachelor’s degree from the University of California, Riverside, and a Master of Business Administration from Chapman University. Her corporate office is located in downtown Riverside, but she covers all of Orange County and Riverside County. Briana is a member of the California Associations of Realtors and her local Realtor associations.

Denise Matthis

Denise is a determined realtor breaking all odds and climbing to success through hard work and persistence. Although not a true “San Diego Native”, Denise has been a resident of San Diego since the age of 2. She is

the Owner/Broker of DEM Financial Services & Real Estate, a boutique brokerage dedicated to promoting community pride thru homeownership and building & preserving generational wealth with real estate. As a buyer’s representative, she’s passionate and works with first-time home buyers and veterans educating them on the home buying process. As a seller’s representative, she specializes in seniors, probate, and distressed property sales. As a real estate professional Denise has earned the designation of SRES (Seniors Real Estate Specialist), CRS (Certified Residential Specialist), a designation awarded to less than 5% of Real Estate Professionals in the United States, ABR (Accredited Buyers Representative), MRP (Military Relocation Specialist), CMPS (Certified Mortgage Planning Specialist), SFR (Short Sale & Foreclosure Resource), Certified HAFA Consultant, CNE (Certified Negotiation Expert), CDPE (Certified Distressed Property Expert), and has earned Certified REO and Short Sale Designations from NAR (National Association of REALTOR®), Five Star Institute, LIONSGATE Financial Network, and VRM University. For over nine years Denise has earned recognition as a 5 Star Agent, an honor given to less than 7% of agents in one market. She also has been recognized by her local Association of REALTORS® for her educational accomplishments/real estate designations and is a silver award winner for her production. Denise is active in her local REALTOR® Association Board, serving on the Board of Directors, Government Affairs, Housing Opportunity, and Education Committees. She was awarded Volunteer REALTOR® of the Year for 2009 by SDAR (San Diego Association of REALTOR®) and received the “Distinguished Woman of Color” Award from the NAACP in 2017. Denise is the Past President of the San Diego Network of Women’s Council of REALTORS® and served as the President of the National Association of Real Estate Brokers, San Diego Chapter from 2014 thru 2017. She is currently the 2nd Vice President of CAREB (California Association of Real Estate Brokers) after serving as their Regional Vice President.

Jenny Gonzalez

Focused, goal-oriented and resilient are the words that best describe one of the most exceptional agents we have here at The Power Is Now Media Inc. Jenny has been happily helping clients since 1998. Starting out started out with three boys 5 and under and wanted to raise my children from home and be a contribution to my family as well. Jenny first started at a company that did Real Estate and Loans. While here, she learned the loan business which was fundamental to her real estate career development. After 6 months of learning, she finally mastered the craft and dove straight into real estate. “My first listing was a couple in their 30’s that responded to a handwritten letter to them like all the other letters. They called me in and told me their story. She had just had breast cancer treatments and they had a bun in the oven that was never supposed to happen, and they owed more on their home than it was worth.” She recalls. Jenny’s first short sale was in the late 1990 and a year later, she got a wonderful visit from a very thankful family with a beautiful baby girl. “My first Buyers I met at a school carnival I was working a booth. This family had three girls the same age as my three boys. The husband was a police officer and I found him home under the Officer Next Door Program.” Jenny recalls. “This was their first purchase and we are still friends to this day.”

Kamesha Keesee

Kamesha’s journey in the real estate business began when she was 15 years old, where she was employed as a teller at Security Pacific Bank. Being energetic and as curious as she was, she quickly adapted to the changing employment

The Power Is Now Magazine | MARCH 2021

environment and became a personal loan officer. This would be a remarkable point in her life as it was the first contact with the real estate industry. Even though her early career in real estate was not by choice, but by somewhat an accident, it would turn out to be the best turn of even for her. Kamesha spent a few years in the business, originating personal loans. Through this, she quickly realized the potential of being a Mortgage Loan Officer. With consistent clientele in an everchanging environment, it was recommended that Kamesha get a real estate license. This, she says, was the best decision ever. While the star that led her to the real estate industry had shown brighter days, little did she know that her employer would shut down the doors for good? Moments like this are meant to test us for the task ahead, and for Kamesha, it called to mind her resilience and hard work to the play. She finally began her journey as a real estate salesperson in the year 2000. Now as a high-producing listing agent, Kamesha’s extensive marketing plan gives you the opportunity to get the maximum value for your property. For buyers, Kamesha helps them negotiate the best possible deals and house hunt until she finds the perfect property.

and unbridled enthusiasm that drives her passion. She has been a resident of Arizona since 1983 which makes her the perfect choice and your go-to real estate agent in Arizona. She is an Accredited Buyer Representative (ABR), a Certified Residential Specialist (CRS), a Multi-Million Dollar Producer, a Certified Short Sale Property Expert (CSSPE), and a Certified Distressed Property Expert (CDPE), all of which means you will be dealing with a highly qualified professional who knows what she’s doing. Mrs. Simmons’s hard work, charisma and a true passion for her business have helped boost her reputation as a qualified realtor. In fact, she has a strong ethos that pushes her to exceed her client’s expectations by delivering exceptional services. Mrs. Simmons’s area of interest is real estate, whether it be navigating the way for your first home, or even trying to score a perfect distressed property, or providing help in the luxury market, Peggie knows and has had a taste in it all.

Ruby Frazier

“Nothing satisfies me more than seeing the smiles that come with the successful sale of your home or your purchase of a lifetime.” Kamesha Keesee.

Peggie Simmons

Peggie Simmons has 34 years’ experience as a real estate agent and broker in Tempe, Arizona, and currently serves as the Founder and CEO of Realty Marketing Group specializing in relocation, new homes sales, traditional homes, marketing & sales, short sale negotiations, foreclosures, luxury rentals, investments among many others. Peggie has a heart of gold, boldness,

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never one-size-fits-all!

Ruby Frazier, President, and CEO of Frazier Group Realty Inc., a full-service real estate company with a dynamic team. Our approach is tailored for each of our clients; our solutions are

Frazier Group Realty is located in the heart of Downtown Riverside, California, servicing the Inland Empire, Orange, and Los Angeles counties. Focusing on residential and commercial real estate as well as property management. Ruby’s objective is to assist buyers and sellers reach their real estate goals. As a licensed Realtor® Ruby has been in the real estate industry for over 13 years. Additionally, she is an Interior Design Consultant, and Notary Public. Professional Associations include active

Memberships of the National Association of Realtors, the California Association of Realtors, and the Inland Valley Association of Realtors where she currently served as a grievance committee member for the past five years. Additionally, she has the NAR GREEN designation as well as the BPOR Designation. Ruby is a past Board Member of the UC Riverside Foundation Board of Trustees and a past Charter Member of the Riverside Downtown Lions Club. As a highly versatile, results-oriented, real estate sales professional with extensive experience in residential and corporate real estate including industrial, multi-family, and property management. Ruby believes in delivering high-quality customer service. She is capable of tackling all real estate requests, her approach is to find solutions for all of her real estate clientele and to help them reach their real estate target.

Success Money

Success Godis Money is a creative and passionate entrepreneur. Success started her career in the mortgage and real estate industry in 2005 while studying Business Administration and Communication in college. Success has assisted with establishing and serving on numerous boards throughout her career including; The Black Chamber of Commerce, NAREB National Association of Real Estate Brokers at the city, state, and national level. Success is the Founder of House of Success a Non-Profit organization established to assist entrepreneurs, artists and creatives with building and expanding their business, brand, product, or service. We assist individuals and families from homeless to homeownership. Through various professional services, credit restoration, financial education workshops, events. CEO of Success

Money Management Inc. and Super Agents Worldwide, Success and her associates provide professional consulting and coaching in business, credit, funding, real estate, taxes, and advertising. Success host delicious Lunch & Learns and Prosperity Dinners providing group consultations and educational workshops.

Yvonne McFadden

Yvonne is a Veteran in the real estate industry and her business has been extended for over 30 years. Yvonne serves clients from all walks of life recently adding a foreign presence by becoming licensed in Dubai. “I have fun with my clients while making one of the most important decisions of their lives. I take time to explain the process to guide them through tough decisions.” Yvonne. These women have played an important role in shaping what The Power Is Now Media, Inc is. This year’s official International Women’s Day Theme is #ChooseToChallenge. This is a wake-up call challenging the status quo through raising awareness against bias and celebrating the many achievements women have achieved. Our simple way of celebrating our women is simply by recognizing them and showing them the commitment to their goals and what they have entrusted us with. While it is true that women are rising to take up what was thought of as men’s roles and pressing the button for change, we still have a long way to go. According to World Economic Forum’s Global Gender Gap Report 2020, at the current rate of change, gender parity will not be achieved for another 99.5 years. It is upon me and you to make the change. It starts with me and me #ChooseToChallenge you to take action!

The Power Is Now Magazine | MARCH 2021

Select a VIP Agen Adrian Bates Los Angeles

Adriana Montes Florida

Ameer Elahee Fontana

Cornelous Jackson Irvine

Danon Burnside San Bernardino

Denise Matthis San Diego

Joe L. Fisher Richmond

Johnnie Morine Texas

Jenny Gonzalez Corona

Kamesha Keesee Corona

Kenneth Session Bay Area

Briana Frazier Los Angeles

Emerick A. Peace Maryland

Julius Cartwright Ohio

nt In your area Monica Hill Menifee

Peggie Simmons Arizona

Robert Langston Fairfield

Steve Peterson Oakland

Success Money LA Area

Yvonne McFadden Arizona

Ruby Frazier Riverside

Five ways tenants, owners can seek credit enhancements on a commercial lease Steve Peterson

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A lease agreement is an extension of credit from the landlord to the occupant. The landlord will simply calculate the total consideration of the agreement by multiplying the monthly rent plus annual increases for the term of the lease. If our monthly rent is $30,000 with 3% yearly escalators over a fiveyear span, the overall rent is $2 million.

hen you layer in the cost 1. Personal guarantee. of rent concessions, tenant More often than not, the tenant is a corporation. improvements, brokerage fees Whether a C or S corporation, both are legal units with etc., the sum grows bigger. Like for this underlying owners. Depending on the structure of the case, let’s assume these add-ons push our corporation, the owner may be an individual or a number amount by 10% (that’s another $200,000). of shareholders. In a case where the owners are the shareholders, a simple understanding of the individuals So, the landlord wants to be assured is necessary should the corporation default. The tenant the new tenant can fulfill a $2.2 million can give legal promise to repay to pay what is required of obligation. Being honest, this is not some them. And if the corporation becomes unable to repay the amount of money that you can just bring debt, the individual who’s the owner of the corporation out from nowhere. So, as a landlord, you assumes personal responsibility for the balance. can be a bit skeptical about the tenant’s ability to pay the amount in full and in good time. How can owners and tenants 2. Through additional security deposits. Upon the execution of the lease agreement, the rent for seek credit enhancements in such a case? www.tHEPOWERISNOW.com

the first month and a sum equal to the last is deposited with the landlord. However, some lease terms allow the additional security deposit to cover abnormal premise wear and tear, but the primary purpose is to insure timely rent payments. Escalating this amount two- or threefold can give some landlords a reason to say yes.

3. Reduction in concessions.

There are two common types of tenant requests for enhancements. One is the free or abated rent while the other one is above-standard office improvements. For the case of the free rent request, reducing the amount of free rent requested can be the solution to the problem. This can be done through substituting two half months to give one full free month, or by placing the abatement in later years. For the request of tenant improvement, there are two issues. One is the cost associated with producing the over-standard buildout, while the second one is the case where the tenant doesn’t finish the lease term, leaving the owner with above-standard improvements that may not be appealing to the next tenant.

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4. Offering a letter of credit.

A letter of credit is a is a letter from a bank or a financial institution guaranteeing that the tenant’s payment to the owner will be received on time and for the correct amount. What if the buyer fails to make a payment as required? In that event, the bank will be required to cover the full or remaining amount of the agreement. Letters of credit are known to be good in theory but extremely tough in practice. However, an amount of future borrowing can be requested to insure any bleeding. However, if the tenant is sketchy, their ability to seek financing is difficult.

5. Entity guarantee.

Multi-layered corporations create operating companies similar to the layers of an orange where you find no fruit when you peel back the skin. For such corporations, you need to ascertain they own the assets or have finances capable of paying the rent when signing the lease. If not, they could be making an empty guarantee that could get end up coned.

Work cited. https://www.ocregister.com/2020/12/27/6-ways-tenantsowners-can-seek-credit-enhancements-on-a-commerciallease/.

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BISHOP Edward A. SMITH

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Johnnie Morine

5 fast ways to come up with a down payment So you have the plans of owning a home but you somehow can’t come up with down payment. Don’t fret, you are not alone in this boat.

he coronavirus pandemic has also made this more difficult as it literally has affected our financial lives too. Many are out of jobs or are being underpaid, and the reality for most is that they are already eating into whatever savings they had previously. So, how can someone come up with a down payment in little to no time? In this article, we present 5 tested and trusted means one can come up with a down payment:

www.tHEPOWERISNOW.com

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Coming up with a down payment has always been a challenge for first-time homebuyers, especially millennials, who have to think of a way of paying off their student debts and other financial challenges that comes with the current century. 1. Use State and Federal Assistance Programs You might find it hard to believe but one truth is that the government is actually there to make life easier for their citizens. And one way they can help is to promote homeownership traits.

It is because of this reason that the government has set up agencies that would

There are different programs for different classes of would-be homeowners; veterans have a dedicated down payment assistance program, same with first-time buyers and others. New York is one such state that offers an assistance program. Home buyers can be eligible for an assistance that is as high as $40,000. So, a path one can take to being a homeowner would be to search for available programs they might qualify for.

2. Save as much as you can

Another no-brainer way of getting a down payment quick is to always save as much as you can. Everyone gets tempted to spend frivolously on things, necessary and unnecessary. It’s an innate human nature, spending, and could be difficult to curb and unlearn, especially in adults. However, this is the surest means of attaining homeownership without incurring excessive debts, from loans or interest on loans. Not only does saving help you make down payment, it helps you understand your financial power and encourages prudence in spending.

3. Use Your First Time Buyers Benefits. If procuring down payment for houses or land properties was very easy, you probably wouldn’t be reading this. However, most mortgage firms have incentives which aid first time home buyers or owners, but most borrowers aren’t aware of these programs. These incentives help first time home buyers who qualify for them, to meet up with the financial demands of the real estate market, most times, they include reduced tax and interest rates, or no rates at all.

4. Crowdfunding.

Sites like FeatherTheNest HomeFundIt and GoFundMe allow for their users to create public profiles which enable them to solicit for funding to aid their projects, public or personal. Although, some of these crowdfunding networks require certain fees, there are some completely free ones. However crowdfunding is more effective if you have a large audience on the internet.

5. Utilize Your Retirement Funds Account.

Certain retirement funding plans allow clients take out funds for emergency use or investments, without charging them for it. For retirees looking to purchase homes, these plans make it easier to afford the down payments, without the pain and stress of loan applications.

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1. offer down payment assistance programs. However, any would-be home buyer looking to enjoy this programs would need to first fulfill certain criteria which range from their level of income to the property’s location and even presenting details of their identity.

YOU DESERVE TO LIVE SAFE FROM SEXUAL HARASSMENT.

Sexual harassment by a landlord or anyone related to your housing violates the Fair Housing Act. If you receive unwelcome sexual advances or are threatened with eviction because you refuse to provide sexual favors, you may file a fair housing complaint. To file a complaint, go to

hud.gov/fairhousing or call 1-800-669-9777 If you fear for your safety, call 911.

FAIR HOUSING IS YOUR RIGHT. USE IT. A public service message from the U.S. Department of Housing and Urban Development in cooperation with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. For more information, visit www.hud.gov/fairhousing.

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EMERICK A. PEACE

#320004 240-882-0198 EmerickPeace@KW.com Your #1 Referral Source for Phenomenal Service in Washington, DC & Maryland

APPRECIATION RATE TRENDS AND HOUSING MARKET DATA Emerick A. Peace

Factors That Affect Appreciation Trends Price appreciation of property happens when there is an increase in the value of a property over time. Let’s say you purchase a house now for $100 and sell it for $1000 in the next decade; the profit you get from reselling the property is your price appreciation. This appreciation value or trend is dependent on several factors such as the location, future development www.tHEPOWERISNOW.com

plans, demand and supply, and the physical structure of the property in question. The property owner can impose an appreciation rate by renovating and repairing some things on the property. Housing Market Data You don’t just walk into a city or town and find houses of your choice; that includes the physical structure and location. For real estate investors, things like location and physical structure are crucial in dealing with the housing market; even more crucial is the rate at which the property is appreciated, when, and how it appreciates. Therefore, the latest trends, research, data, and housing insights are known as the housing market data. This information enables any investor to know when, how, and where to buy properties and predict the price appreciation of their properties relative to the location’s sustainability. This information on the future housing market in a particular location will enable you to understand if your deal is good enough.

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ne of the real estate goals is to get a positive return on the investment when it is sold later. It is a no brainer to invest your money in something that wouldn’t yield even a 1% increase. Although there are times it happens that people lose so much from their investment, it is as a result of inefficiencies and happenstance that were unprecedented. But we are considering the profits, that is what investments are for. And at such, we’d talk about appreciation rate trends in the real estate market, which is an increase in the value of a real estate property over some time.

Relationship Between Value, Cost, and Price The cost and price of a property can affect the property’s value but cannot determine it. Let’s say you want to sell your property at $1500(perhaps the house’s actual cost is $1200), and your buyer doesn’t like the foundation or roofing of the house, maybe even the interior decoration. He can price the house at $800, lowering the value of the house. As the investor, you can either choose to sell it off or retain it for a better bidder. The buyer’s pricing doesn’t determine the value of the house in this case. Market Value To determine the property’s market value — the price a property is likely to be sold in a competitive or open market— an appraisal is needed. An appraisal is an estimate regarding the value of a property at a given date. It is widely used in the real estate market to make decisions regarding transactions. The market value becomes a yardstick to discuss the cost of a property in real estate dealings.

Appreciation rate trends and housing market data is an essential criterion in real estate business. Both work together in guiding the investor in decision making: knowing if a deal is good enough, why a deal is important, and what to gain from a deal in the long run. While the appreciation rate is dependent on housing market data for an informed decision, the housing market data is dependent on the demography of the locale for predictions.

References https://www.neighborhoodscout.com/tn/real-estate https://corporatefinanceinstitute.com/resources/ knowledge/valuation/price-appreciation/ https://www.google.com/url?client=internal-elementcse&cx=partner-pub-7178868422353721:7848419215&q= https://www.cmhc-schl.gc.ca/en/data-andresearch&sa=U&ved=2ahUKEwi1op_e37buAhWtShUIHVoK A7IQFjAIegQIAhAB&usg=AOvVaw3Bbj5IcNFvcDJD9Tc-zDwX https://www.investopedia.com/articles/realestate/12/realestate-valuation.asp

Every Other Friday

10:00 AM - 11:00 AM

Promote Your Listings Online Call me for more information Eric Lawrence Frazier MBA (714) 361-2105 eric.frazier@fbol.com www.thepowerisnow.com

Your voice is your brand! Increase lead generation, and give you the POWER to close more deals!

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Adriana Montes

Some Florida Hottest Markets in 2021

lorida aka the Sunshine State is currently experiencing a population increase with many individuals and businesses relocating to Florida because of the pandemic. It is home to an internationally known beach, Disney World, several outstanding universities, and one of the USA’s largest convention centers. When you factor in the weather, the absence of income tax, and dropping unemployment rates (despite the pandemic), it’s easy to figure out why many folks from within and without the US want to move to Florida. This population growth has brought about the current increase in demand for real estate coupled with rising property prices. Both trends promise to make Florida a real estate Eldorado in the US. So if you are looking to become a player in the Florida real estate market, now is the time. But then, what are the hottest Florida markets in 2021? Hold your horses; you are about to find out. www.tHEPOWERISNOW.com

Some Florida Hottest Markets in 2021 Here are some of the hottest real estate markets in 2021: Fort Lauderdale Fort Lauderdale has also been one of the biggest real estate markets in Florida. Thanks to the proliferation of jobs in sectors like education, healthcare, construction, and professional services, there is a sustained drop in Fort Lauderdale’s unemployment rates. This has had a domino effect on the local real estate market as there has been a corresponding increase in the number of renters and buyers. Sellers in the area are currently making a killing.

Jacksonville Jacksonville is also experiencing a sustained appreciation in real estate. With the steady growth in the number of available jobs, many individuals and businesses find it the ideal place to settle at. Add its temperate weather and its closeness to the Atlantic, then it is easy to see why there is a steady influx of buyers and renter of real estate to the area. What’s more, the demand for real estate in Jacksonville increases while the supply continues to diminish. Palm Beach Palm Beach has always been a hot real estate market, but the market has become more biased towards sellers in recent times. One reason for this is the lack of inventory, so there are fewer low- and mid-priced properties than the demand for them. Another reason for the increase in demand for real estate in Palm Beach is that more folks are looking for low density, warm areas that offer some of the exclusion that you rarely get in places like New York and California. Of course, it does not hurt that Florida is kind of lax on income taxes, so Palm Beach offers a haven of sorts. Tampa Given the increased migration of people from the more expensive and less economically successful states in the US, Tampa Bay is fast becoming a location of choice in the Sunshine State.For one, real estate is significantly more affordable there than it is in some parts of Florida. For example, homes in the Tampa Bay area are cheaper than those in Miami by as much as 24%. Secondly, Tampa

Bay is experiencing job growth and with this growth, there has been an increased demand for real estate. Orlando Orlando boasts of some portraitworthy beaches, a thriving economy, and a steadily growing standard of living. Many individuals and businesses within and without the US now opt to live or set up shop there long-term. The increase in job availability and population growth makes it a really hot real estate market in 2021. The best part is that Orlando’s real estate is really affordable, so there is a great demand for real estate in Orlando. Takeaway Florida faced some really tough times around 2008. A little over a decade later, it is experiencing a steady influx of migrants looking to make the most of the benefits living in the Sunshine State offers them. This explains why Florida is home to some of the hottest real estate markets in the US in 2021. Although Florida is currently experiencing some medical challenges occasioned by the COVID-19 pandemic, measures are in place to curb the situation before it worsens. References: https://www.orangeobserver.com/article/ forecast-2021-new-year-hot-real-estate-market https://www.mashvisor.com/blog/florida-realestate-market-forecast-2021/ https://learn.roofstock.com/blog/these-arethe-hottest-markets-to-sell-rental-property-inflorida https://www.cnbc.com/2020/10/15/palmbeach-may-be-hottest-real-estate-market-inthe-world-brokers-say-.html https://www.noradarealestate.com/blog/ orlando-real-estate-market/

The Power Is Now Magazine | MARCH 2021

Install smart home technology, upgrade your computers, put in a home theater, improve your home office and remote learning environment, set up a home security system... There’s no end to what you could do!

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*The Annual Percentage Rate (APR) is a variable rate based upon an index and a margin. The APR will vary with the Prime Rate (the index) as published in the Wall Street Journal. The variable rate APR will range from Prime + 0% to Prime + .425%, depending on the applicant’s credit score. This variable rate is based on auto-debit of payments from a First Bank checking account. If not auto-debiting payments from a First Bank checking account, add .75% to the rate. The APR may increase or decrease but will not exceed 18% nor will fall below 4.25% except during the 12 month promotional period. During the promotional period the rate will be based on applicant’s credit score with either Prime - 0.26% or Prime + 0.34% and both promotional rates requires auto-debit of payments from a First Bank checking account. As of September 1st, 2020, the APR ranges from 4.25% to 4.425% and the promotional rate is 2.99% or 3.59%. Rates are subject to change. This promotional rate is available only for consumer checking account clients of First Bank who do not have a HELOC with First Bank as of August 31st, 2020. Offer available for applications accepted during September 1st – September 30th 2020. No closing costs on lines up to $1,000,000 for standard documentation; third-party fees to be paid by borrower for loans over $1,000,000. Member FDIC

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Yvonne Mcfadden

Arizona Housing estate Market:

A review of the first quarter and looking beyond

www.thepinmagazine.com

The aggregate demand for rental property has risen despite the delay in sales caused by the coronavirus outbreak. The Phoenix real estate market has been flourishing in the last few years; however, the increase in mortgage rates doesn’t affect the market. The fall in the yearly sales between April and May influenced the figure, but the irregularity may be stopped by October, as reported by ARMLS’s prediction. The phoenix, a city within Arizona, is home to over 1 600 000 people, of which 54% of the houses are owned while 46% are for rental purposes. It is located within Maricopa County and is also rated amongst the best cities to retire in America. The median home value and rent values are $217,400 and $999, respectively, with an appreciation rate of 8.0%. 2021 Arizona Housing Estate Market Forecast The following information represents the current real estate forecast of some places within Arizona state. Let’s check it out. l

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igh buyer’s demand for home fails to cease in the Arizona housing market. The Phoenix real estate market has attracted several investors this year, whereas no one has predicted it. The housing market’s existing supply doesn’t change despite the significant rise in new listings. The coronavirus outbreak has made the range on listings on October 1 greater than September 1, even though it’s very uncommon. The Arizona housing estate is very hot in demand. Acquisition of homes in the fall season has been active, just like in the hot season.

•

Phoenix home values have stepped up by 12.6% within the previous years, and there will be an increase of 8.5% in the subsequent year. Maricopa county home values have stepped up by 11.7%, and there will be a rise of 8.3% in the next year. Phoenix-Mesa Scottsdale Metro home values rose by 11.7% some years ago, and the recent forecast by Zillow shows that there will be an increase of 7.7% in the next year.

Summary Of 2020 Arizona Real Estate Market According to Zillow, Arizona home values have enjoyed an accumulated rise of 160% from 2012 till date. The Phoenix home values accumulated increase is higher than Oakland home values (145.7%) accumulated growth. Below is the full report from Zillow; •

• •

The real estate home values appreciated by 12.6% in the previous year and an 8.5% rise is predicted in the subsequent year. The median home value is $303,230 The real estate market will be ranked amongst the best five housing markets in the year 2020.

The following are 2020 Realtor.com real estate property report on Arizona housing estate • •

4686 houses are listed for sale. The median home value is $335,000

• several homes listed in the phoenix real estate stays in the market for 46days. • The following are 2020 Redfin real estate property reports on Arizona housing estate. • The median home value is $317, 000 • The real estate market home values rise by 13.2% yearly. • The competitiveness percentage score is 73%, which means the market is highly competitive. • Homes with lesser demands remain in the market for about 34days. They sell 1% lesser than their list prices. • Homes with higher demands stay in the market for about 10days. They sell 2% higher than their list price. Now that we are done with the summary of Arizona’s real estate. Let’s quickly have a glance at the trend of the gilbert community nearby Arizona. Sit back and enjoy! Gilbert has a population of over $237 484 people. Its median home values and median rents are $310, 400, and $1, 429 respectively. The percentage of a house owned (73%) is more significant than ones rented (27%). It has 710 homes listed in the phoenix real estate market. Several homes listed in the phoenix real estate stays in the market for 100 days on average.

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•

How Safe is the Arizona Housing market: Are all buyers catered for?

Peggie Simmons Considering the recent coronavirus outbreak and the just concluded election in the USA, one couldn’t quickly tell how the Arizona housing market operates. Will it boom or slump? That’s the question many real estate investors are yet to figure out. If you are skeptical about the Arizona real estate market’s safety, this guide is for you. This article will walk you through making the best investment decision based on facts and figures obtained from previous data and future predictions.

www.tHEPOWERISNOW.com

2020 Arizona real estate market forecast Despite the outburst of the pandemic, Arizona real estate market is on fire(booming). The demand for rental homes has tremendously increased during the past few months. A report from Niche.com suggests that the median home values and rent values are $217,400 and $999, respectively.

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ith over 1 600 000 people, 54% of the while houses are owned while 46% are for rental purposes. It offers standardized public schools, high employment opportunities, affordable homes, and a decent atmosphere. The availabilities of the qualities above make Arizona a perfect place to live for people. Living in Arizona may be among the dreams of many people who want to live in the USA.

The following are 2020 Zillow’s property reports on Arizona housing estate. l

•

• •

The real estate home values appreciated by 12.6% in the previous year, and an 8.5% rise is predicted in the subsequent year. The median home value is $303,230 The real estate market will be ranked amongst the best five housing markets in the year 2020.

The following are 2020 Redfin’s real estate property reports on Arizona housing estate. • • • •

•

• • • •

The median home value is $317, 000 The real estate market home values rise by 13.2% yearly. The competitiveness percentage score is 73%, which means the market is highly competitive. Homes with lesser demands remain in the market for about 34days. They sell 1% lesser than their list prices. Homes with higher demands stay in the market for about 10days. They sell 2% higher than their list price. The following are 2020 Realtor.com real estate property report on Arizona housing estate 4686 houses are listed for sale. The median home value is $335,000 Several homes listed in the phoenix real estate stays in the market for 46days.

The reports below are the 2021 Arizonarealestate. com report. These are the reports of the nearby communities of Arizona.

Chandler has a population of over 248 631 people. Its median home values and median rents are $285 000 and $1,246, respectively. The percentage of a house owned (63%) is more significant than ones rented (37%). It has 878 homes listed in the phoenix real estate market. Several homes listed in the phoenix real estate stays in the market for 105 days on average. Tempe has a population of over 183,656 people. Its median home values and median rents are $255,800, and $1,114, respectively. The house owned (40%) percentage is more significant than ones rented (60%). It has 475 homes listed in the phoenix real estate market. Several homes listed in the phoenix real estate stays in the market for 105 days on average. Conclusion If properly utilized, the above reports will guide you to make profitable investment decisions. Now is the best time to invest in the Phoenix real estate market. References https://www.arizonarealestate.com/market-statistics/ https://www.noradarealestate.com/blog/phoenix-realestate-market/#:~:text=In%20March%2C%20Metro%20 Phoenix’s%20median,%2B%2012.7%25%20from%20last%20 year.&text=In%20July%20%26%20August%2C%20the%20 Phoenix,were%20active%20homes%20for%20sale. Niche.com

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Gilbert has a population of over 237 484 people. Its median home values and median rents are $310, 400, and $1, 429 respectively. The percentage of a house owned (73%) is more significant than ones rented (27%). It has 710 homes listed in the

phoenix real estate market. Several homes listed in the phoenix real estate stays in the market for 100 days on average.

The Power Is Now Magazine | MARCH 2021

Kamesha Keesee

Corona Housing Market: Trends for the next quarter and beyond

www.tHEPOWERISNOW.com

On the other hand, the demand for homes the Corona, CA real estate market is experiencing is something we’ve never seen before. According to Movoto, the median days on the market was 12 in February 2021, a 78% drop from 55 in 2020. The Redfin Compete Score illustrated the Corona, CA housing market is 77/100 in terms of competitiveness, terming it as “Very competitive.” What is the future for the Corona, CA real estate market? The Corona, CA housing market is still a seller’s market. But how does the future look like? Is it a good time to

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o far, the 2021 Corona, CA real estate market is not so much different from what we saw last year. Prices are still on the rise with falling inventory and skyrocketing demand. According to Movoto, the median list price in Corona, CA was $595,999 in February 2020, representing a 3% increase from a year ago. On the other hand, home resale inventories were at 110, which is a 64% drop from 2020. Meanwhile, the median list price per square foot in Corona, CA was at $309, representing a 27% surge from $242 in 2020, according to Movoto.

buy a home in Corona, CA? Is investing in the Corona, CA real estate market worth it? According to WalletInvestor’s live Forecast System, buying a house in Corona, CA is “a not so good short-term (1 year) investment.” Below is a short-term housing market forecast for the upcoming months and years according to Walletinvestor.com.

Conversely, investing in Corona, CA real estate market on long-term basis is the better option. WalletInvestor predicts that a 5-year investment in the Corona, CA is expected to yield about 12.05%. This means that investing $100,000 today could give you a profit of $112,050 by 2026. The chart below shows the long-term predictions for the next months and years, according to Wallentinvestor. com.

www.dronegenuity.com

Work cited. https://walletinvestor.com/real-estate-forecast/ca/riverside/ corona-housing-market. https://www.movoto.com/corona-ca/market-trends/.

THIS VETERAN HAS EXPERIENCED ENOUGH.

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

hud.gov/fairhousing 1-800-669-9777 50 YEARS OF OPENING DOORS. A public service message from the U.S. Department of Housing and Urban Development in cooperation with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. For more information, visit www.hud.gov/fairhousing.

Ameer Elahee

2020 was an interesting year for the Southern California real estate market. Like other markets across the country, strong demand, limited housing supply, and rising prices featured the 2020 Southern California market. Stepping into 2021, what should we expect in the Southern California housing market? Will 2021 be a good year for this market? Let’s find out. www.tHEPOWERISNOW.com

Home prices.

A research published by Realtor.com on January 7, 2021 revealed that two of Southern California’s major metro areas (Riverside-San Bernardino-Ontario and Los Angeles-Long Beach-Anaheim) appeared on top six of the 50 largest metro areas with the biggest increase in median list prices. From this data, it’s clear that the Southern California housing market saw a significant growth in home prices over the past year despite the pandemic-induced economy. However, the latest forecasts reveal that the 2021 Southern California real estate market will record more growth of home prices over the coming months. According to Zillow predictions, home prices in some parts of Southern California including San Diego, Los Angeles, and Riverside, will rise by double digits (+10%) over the next year. So, folks, brace yourself for higher home prices this year.

Housing Inventory.

The Southern California real estate market have one thing in common across all regions— tight inventory. Like the better part of last year across the country, there is housing inventory challenges in Southern California as well. There just aren’t enough homes listed for sale to l

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Will 2021 be a good year for real estate in Southern California?

meet the growing number of home buyers in the market. As of December 2020, almost all of the major cities in the Southern California region had less than a two-month supply of housing inventory. That’s significantly below what is termed as “balanced real estate market,” and it’s making things more tough for homebuyers. This implies that the housing market in Southern California is still a seller’s market like it was last year. Consequently, homebuyers are more likely to continue competing fiercely for the limited homes available in the market. This competition is what has been and will continue

driving the positive forecast for the Southern California housing markets such as San Diego, Riverside, and Los Angeles. Meanwhile, with limited housing inventory, the notion of bidding wars is set to continue as homebuyers compete in making bigger offers. Conclusively, the 2021 Southern California real estate market is most likely to be a good year for sellers, and the opposite is most likely to be true for homebuyers. Work cited. http://www.homebuyinginstitute.com/news/southerncalifornia-forecast-san-diego-riverside/#:~:text=Recent%20 forecasts%20for%20the%20Southern,expect%20stiff%20 competition%20in%202021.

The Power Is Now Magazine | MARCH 2021

Do you know

Peppermint Ridge? We provide a community of loving homes and empowering support services for individuals with intellectual and developmental disabilities.

support and encourage our residents to live their

lives and fulfill their dreams by fully embracing their indvidual abilities and interests. With 24-hour specialized care and staffing, we provide comfortable, secure homes and recognize that everyone feels a sense of belonging when they have familiar places in which to spend time with family and friends.

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is a true sense of family at Peppermint Ridge. Of the 94 adults who

live at The Ridge, 38 have lived here for more than 20 years, with 10 of those calling The Ridge home for 40 years or more. Residents have the opportunity to flex their muscles of independence while developing rich lives of their own away from their loved ones. About 30% of our residents have no family, so other Ridgers and our staff have become their family.

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the community enjoy getting to know The Ridge by helping on small projects, hosting fundraisers, lending a hand at events, volunteering in our office, and assisting residents in activities such as arts and crafts, pool days, horseback riding, music and piano lessons, and exercise classes.

825 Magnolia Ave • Corona CA 92879 • 951.273.7320 www.PeppermintRidge.org • Tax ID: 95-2409851

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Ruby Frazier

At Glance: T Prop. 19- State offers guidance on new property tax transfer law

he Proposition 19, billed as “The Property Tax Transfers, Exemptions, and Revenue for Wildfire Agencies and Counties Amendment,” was passed in November 2020, with a whooping 51.1% of California voter approval. For that reason, this year is set to experience sweeping changes in property taxes assessed on personal residences. However, it’s not that easy to implement. There’s always a danger that comes with ballot propositions— they’re sometimes poorly written and often misunderstood by voters. The same is the case with the Prop. 19.

A look into Prop. 19.

Prop. 19 has two primary provisions. One allows the transfer of property tax base year values from one Californian to another for certain homeowners effective April 1, 2021. The second provision significantly cuts the property tax reassessment exclusion for transfers of property between parents and children (and grandparents and grandchildren in very narrow circumstances) effective Feb 16, 2021 and is subject to discussion in the next column.

What does property tax mean?

Your property tax base year value is the assessed value — the value listed on your property tax bill on which the www.tHEPOWERISNOW.com

property tax is calculated. In other terms, it’s the fair market value of your home at the time you bought it, adjusted annually by up to the 2% allowed under Prop. 13 (as adjusted, this is known as “factored base year value”). The property tax rate is 1% plus other voter-approved fees and assessments.

(difference in full cash values) • $225,738 + $100,000 = $325,738 (add difference to factored base year value) • New base year value of replacement primary residence is $325,738.

Base year value tax provision.

Transfer definitions and further clarifications.

Prop. 19 allows homeowners age 55 and above, the severely disabled, or a victim of a wildfire or natural disaster to transfer the property tax year value of their principal residence to a replacement principal residence anywhere in California that is purchased or newly constructed within two years of the sale of the original residence. In case the replacement home is of equal or lesser value than the original residence, the property tax base year of the original residence may be transferred, marking the end of any calculations. On the other hand, if the replacement home is of greater value, only partial relief is available. What does this mean? Below is the example of that calculation the State Board of Equalization gives in its letter to county assessors dated Dec. 11, 2020: •

•

Homeowner, who is over age 55, sells a primary residence on June 28, 2021, for a full cash value of $700,000. At the time of sale, the single-family residence has a factored property tax base year value of $225,738. On July 22, 2021, a replacement primary residence is purchased for a full cash value of $800,000. Since the value of the replacement primary residence exceeds the value of the original residence, the difference must be calculated and added to the transferred factored base year value. $800,000 -$700,000 = $100,000

In essence, if you’re going to be “movin’ on up,” you’re going to pay for that difference.

• Primary residence- this is a residence eligible for either the homeowner’s exemption or the disabled exemption and one or the other must be filed. • Victim of a wildfire or natural disaster- this is an owner of a primary residence that has been substantially damaged as a result of a wildfire or natural disaster that amounts to more than 50 percent of the value of the residence immediately before the wildfire or natural disaster. “Damage” includes a loss in the value of the residence as a result of restricted access caused by the disaster. • Natural disaster- is a condition of disaster or peril, as declared by the governor, caused by conditions such as fire, flood, earthquake, civil disorder, mudslide or storm. • Wildfire- this is an unplanned wildland fire, including unauthorized humancaused fires and escaped prescribed fire events, among others.

Work cited. https://www.pe.com/2021/01/01/prop-19-state-offersguidance-on-new-property-tax-transfer-law/.

The Power Is Now Magazine | MARCH 2021

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About

Janet Yellen

anet Louise Yellen made history this year by becoming the first woman ever to hold the position of U.S. Secretary of the Treasury. This was after being nominated by Joe Biden in 2020 and being sworn in by the Senate on Jan. 26, 2021. She has been praised and hailed by leaders all over the country, even the former president at one time saying that Yellen was “one of the nation’s foremost economists and policymakers” who is “renowned for her good judgment,” this was in 2013. But who is Janet Louise Yellen? This article explores the life of one of the 3rd world’s most powerful women according to Forbes List of 100 most powerful women, 2016. Janet Louise Yellen was born to a Polish Jewish family in New York City’s Bay Ridge Neighborhood in August 13, 1946. Her mother, Anna Ruth was an elementary school teacher and her father Julius Yellen was a family physician working from home in their home’s basement. From a very young age, Anna quit her job as a teacher to take care of both Janet and her older brother John. In 1962, Janet graduated from the local Fort Hamilton High school- she was the class valedictorian. Education Janet graduated summa cum laude in economics in 1967 from Brown University and later received a Ph.D. in economics

from Yale University in 1971. While at Brown University, Janet switched her planned major from philosophy to economics, and part of this major shift was influenced by professors George Borts and Herschel Grossman. Yellen’s dissertation was titled “Employment, Output and Capital Accumulation in an Open Economy: A Disequilibrium Approach” and was under the supervision of James Tobin who later became Nobel laureate. One of her former professors at Yale University, James Stiglitz, has called Janet one of his brightest and most memorable students. In the year 1971, there were about 24 graduates who earned their Ph.D. and only Yellen was a woman among them. Early Career Development Soon after getting her Ph.D. from Yale University in 1971, Yellen was appointed as an economics assistant professor at Harvard University. Here, Yellen would tutor and mentor graduates for 5 years; from years 1971 to 1976. In 1971, she was recruited as an economist with the Federal Reserve Board of Governors by Edwin M. Truman who was a junior professor at Yale. He had heard Yellen’s oral exam and had recently taken over the Federal Reserve Division of International Finance. Yellen’s role with the Fed was to research international monetary reforms. While still at the Fed, Yellen met her husband George Akerlof. They wed in 1978 less than a year later. By the time they wed, George had

The Power Is Now Magazine | MARCH 2021

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already accepted a teaching position at the London School of Economics. She later quit her position at the Fed to accompany him. She was hired by the same institution as an economics lecturer. The couple remained in London for about two years and then returned to the United States. When George and Yellen came back to the U.S., she joined the University of California, Berkeley where she was largely involved in research work around Macroeconomic policies. In addition, she would teach MBA and undergraduate students. Yellen is now professor emeritus at Berkeley’s Haas School of Business and has also been awarded the Haas School’s outstanding teaching award two times. Serving at Federal Reserve Yellen took a break from Berkeley University to serve as a member of the Board of Governor of the Fed system. She was appointed to the board by then-president Bill Clinton. The Senate Banking Committee approved her nomination by a vote of 18 to 1. The nomination was later confirmed by the Senate by an overwhelming vote of 94-6 and Yellen went ahead to succeed Wayne Angell on August 12, 1994. Two years later, under the leadership of Alan Greenspan, the Fed was under pressure to raise interest rates as unemployment rates were soaring. Yellen defended the move to resist the pressure arguing that inflation was a good thing for the economic 78

development of a country. She played a huge role in convincing Greenspan about a view that has become a longstanding tradition with the Fed. Becoming a Chair of The Council of Economic Advisors In 1997, Yellen left the Federal Reserve to become the chair of the council of Economic Advisers in Bill Clinton’s Administration from February 18, 1997, replacing Joseph Stiglitz in office. Janet was confirmed unanimously by the senate and she became the second woman to hold the office. While still at CEA, she concurrently chaired the Economic Policy Committee of the Organization for Economic Cooperation and Development from 1997 to 1999. It was while serving at the CEA Yellen oversaw a landmark report “Explaining Trends in the Gender Wage Gap” which was focused on the gender pay divide in June 1998. The study analyzed data from 1969 to 1996 determining the causes for women to earn substantially less than men. The report determined that while the Equal Pay Act of 1963 was a major step in the right direction, there was no valid reason why there was a 25 percent difference between the average pay for women and men. The report went on to conclude that this gap had no correlation with differences in productivity, and as such was the repercussion of discrimination in the workplace. In 1999, Yellen resigned from the CEA and returned to Berkeley. While at Berkeley, she taught

until 2004 and would later be appointed the president of the Federal Reserve Bank of San Francisco. In 2010, Yellen was appointed to the Vice-Chair seat of the Board of Governors of the Fed 2010 and three years later, she was nominated by Pres. Barrack Obama as the head of the Federal Reserve System. Her appointment to the seat was a rather controversial one as some Republicans assumed that Yellen would over-emphasize reducing unemployment and not paying any attention to inflation. Nevertheless, in 2014, she was confirmed by the U.S. Senate by a vote of 56 to 26. Her term began on February 3, 2004. As the Fed Chair, Yellen was

The Power Is Now Magazine | JANUARY 2021

Life after the Federal Reserve In 2018, the Brookings Institution announced that Yellen would be joining the institution’s think tank as a distinguished fellow in residence with Economic Studies program. She is affiliated with the Hutchins Center on Fiscal and Monetary Policy at Brookings. In 2017, she noted that she did not expect another ‘financial crisis’ explaining that this assumption could hold due to her belief that banks are “very www.tHEPOWERISNOW.com

much stronger” due to the Fed’s oversight. In 2018 however, she reversed her stance warning of a possible financial crisis by citing “gigantic holes in the system.” This was after her departure from the Federal Reserve. Nomination to the Secretary of Treasury Post In 2018, she left the Fed after Donald Trump failed to nominate her for the second term. In 2020, President-elect Joe Biden announced her nomination to the Secretary of the U.S. Department of the Treasury. In 2021, she was confirmed by the Senate by a vote of 84 to 15. With her swearingin by the vice-president Kamala Harris, Secretary Janet Yellen became the first woman to ever serve as a U.S. secretary of the treasury and the first person in the history of the nation to ever lead the three most powerful economic bodies; the Treasury Department, the Federal Reserve and the White House Council of Economic Advisers. l

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largely involved in reversing some of the policies that were put in place in response to the subprime mortgage crisis of 2008. One of her notable moments was when she oversaw a program to sell Treasury and Mortgage Bonds that the Fed had purchased to stimulate the economy. Another distinguishable moment during her tenure was the job and wage growth both of which occurred while she maintained low-interest rates.

Cornelius Jackson Here’s why you need to invest in the

he 2020 real estate market in Irvine was boiling with activities amid the pandemic. Home prices were skyrocketing, housing inventory was declining while the demand was rising. The the early days of 2021 are not so much different form 2020. But moving on, factors may change. If you’re looking to investing in the Irvine real estate market, here is some data tat you can refer to. According to Movoto.com, the median price of homes in Irvine was $1,059,000 in February 2021, representing a 6% drop from last year. In the same month, resale housing inventories was about 360, which is a 21% decline compared to the same time last year. Moreover, the median list price per square foot in Irvine was $523, representing a 5% increase from $495 in 2020. Below is the Irvine market snapshot by Movoto.com:

February

1 Year Ago

Active inventory

369

473

Median list price

$1,059,000

$1,128,880

Median days on Movoto

Median Home Size

2,076

2300

Median $/Sqft

523

495

Meanwhile, the sale-to-list ratio of homes in Irvine, CA was at 99.31% in January 2021, according to Realtor.com. This means that homes are being sold at approximately the asking price although they’re receiving offers higher than the list price due to the competition for houses caused by the high demand for homes. This also means that the Irvine, CA real estate market continues to be a seller’s market even in 2021, and the situation doesn’t seem like it will shift any time soon. So, if you’re looking to invest in the Irvine housing market this year, that’s one go-ahead indicator for you.

The Power Is Now Magazine | MARCH 2021

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Irvine Real Estate market in 2021

Why invest in the Irvine Real estate market? Besides the profitability aspect of investing in Irvine, there are a few other cool thigs you should know. According to data provided by GreatSchools, Irvine is a place with great schools both elementary, middle and high schools. Some of them include Roy O. Anderson Elementary School, Portola Springs Elementary, Sierra Vista Middle, Lakeside Middle School, Northwood High School, and Irvine

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High School. It’s also important to note that most schools in Irvine have garnered good scores in terms of academic progress, equity, test scores, and college readiness. Moreover, Irvine has 69/100 bike-ability, 43/100 car-dependent, and 27/100 transit score. Reliable transit is available in Irvine with a few nearby public transport options. Generally, Irvine is a good market to invest in real estate be it for flipping or settling purposes. So, sit down, get your plans straight and make the right decisions.

Work cited. https://www.movoto.com/irvine-ca/market-trends/. https://walletinvestor.com/real-estate-forecast/ca/ orangeirvine-housing-market.

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Is investing in the Irvine, CA real estate market worth it? According to WalletInvestor’s Live Forecast System, buying a house in Irvine is a “not so good shortterm (1-year) investment.” Rather, a long-term investment would be a better option. According to WallentInvestor forecasts, a 5-year investment is expected to yield a profit of around 12.93%. This means that investing $100,000 today would yield a profit of $112,930 by 2026.

Jenny Gonzalez

facts you need to know about VA Loans

or the vast majority of military borrowers, VA loans represent the most powerful lending program on the market. A VA loan is a down payment-free mortgage option issued by private lenders and partially insured by the Department of Veterans Affairs (VA). This flexible, $0-down payment mortgage has helped more than 24 million service members become homeowners since 1944. At the same time, most eligible Veterans often bypass this homebuyer assistance program for various reasons such as lack of knowledge of its advantages and the notion of thinking the program involves a tedious process. Moreover, even most real estate agents and lenders lack a deep understanding of the program’s unique benefits and quirks. Whether you fall under these categories or not, take a few minutes to read the below facts about VA loans. 1. No down payment or mortgage insurance required. Did you know that you do not need to put down anything to get approved for a VA mortgage loan? While most mortgage programs such as FHA and Conventional loans require between 3%-5% down payment, VA loans require zero down payment. Moreover, with a VA loans, you get to avoid steep mortgage insurance fees, where private mortgage insurance (PMI) costs $150 per month on a $250,000 home.

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Consequently, with a VA loan, you can buy a home almost immediately, rather than having to save for years for down payment. Also, by eliminating PMI, a buyer using VA loan can afford a home worth $30,000 more with the same monthly payment. This means that VA loans saves you money while tremendously increasing your buying power.

2. VA loan benefits are reusable. The benefits that come with a VA loan are not one-and-done. You can use them as many times as possible as long as you pay off the loan each time you borrow. There are several ways you can reuse your benefits. One, assume that you purchased a home with a VA loan and you’ve outgrown it and need a bigger one. You can sell the home and pay off your VA loan completely, then reuse your benefits to buy another home. Another way is you can reuse your VA benefits as an eligible Veteran or Service person by getting a one-time restoration when you pay off the VA loan and want to keep the home but still want to buy another one, perhaps for investment purposes. It also applies if you refinance the VA mortgage with a non-VA loan. 3. VA loan benefits have no expiry date. Once you’re declared eligible for a VA loan, it never expires. Even for those who served 20, or 50 years ago can still buy a home today with a VA loan as long as they’re eligible. Eligibility is determined by the length of time served, and the period in which you served. For example, a U.S. Army Veteran with at least 90 days in service during the Vietnam era is likely eligible.

To check if you’re eligible, first obtain your DD Form 214. With that document, a VA-approved lender can request your VA Certificate of Eligibility for you, or you can request it directly from VA’s eBenefits website. 4. Surviving spouses may be eligible. Un-remarried spouses of Servicepersons who died in action can buy a home with a VA loan with zero down payment, no mortgage insurance, and their VA funding fee is waived as well. This is no way to repay for the fallen heroes but just a benefit to help surviving spouses move forward after tragedy. 5. Lower interest rates. 30-year VA mortgage loan rate was 2.720% and an APR of 3.070% as of February 11, 2021, according to Interest.com. This compares to 30-year fixed rate of 2.820% and APR of 3.110% market average as of February 10, 2021, according to Interest.com. Moreover, VA loans feature some of the lowest foreclosure rates of any loan type, further reducing risk for lenders. Do these facts about VA loans sound too good to be true? Well, there’s only one way to find out— try it. Work cited. https://blogs.va.gov/VAntage/31825/ten-things-veterans-dontknow-va-home-loans/.

The Power Is Now Magazine | MARCH 2021

San Bernardino County Real estate sales trend for Q1 2021

Danon Burnside

an Bernardino County is a county in California with 86 cities. The county experienced a hot market in 2020 and the situation doesn’t seem to change. In fact, the situation seems to be getting tighter for the buyers and better for the sellers. Prices are increasing, inventory is still low, but home buyers are still flooding the market. This means that the San Bernardino real estate market continues to be a seller’s market even this year.

According to Realtor.com, there were 9,732 homes for sale and 549 homes for rent in the whole of San Bernardino county as of January 2020, representing a 47.8% drop in inventory since the same time last year. The San Bernardino housing market is booming for buyers and this is the perfect time to list your home for sale to capture a top dollar. However, it’s a tough market for homebuyers, and more specifically first-time homebuyers. On the other hand, home prices are still going over the roof. The median list price of homes in San Bernardino County was $359,000 as of January 2021; representing a 15.8% year-over-year increase. Moreover, the median sale price was $380,800 while the median listing price per square foot was $245 in January 2021, according to Realtor.com. Despite the skyrocketing home prices, the San Bernardino County housing market still remains highly competitive. The Redfin Compete Score indicated that the San Bernardino real estate market was ‘Very Competitive’ in January 2021, scoring 79 out of 100. According to Redfin.com, many homes sold in the San Bernardino housing market in January 2021 received multiple offers, some with waved contingencies. Meanwhile, the sale-to-list price ratio was a bit high in the San Bernardino housing market in January 2021. However, it varied with the type of home. The average homes sold for about 2% above list price and were pending in about 30 days, according to Redfin.com. On the other hand, hot comes were sold for as high as 5% above the list price and were pending in around 8 days. This further reveals how tough the market is to the buyers. Is it investing in San Bernardino County housing market worth it? According to WalletInvestor’s Live Forecast System, investing in the San Bernardino real estate market is “not a so good short-term (1-year) investment.” However, investing on long-term basis can be profitable. According to Walentinvestor.com, for a five-year investment, profit is expected to grow by 14.01%. this means that investing $100,000 today may yield you a profit of $114,010 by 2026. Work cited. https://www.realtor.com/realestateandhomes-search/San-Bernardino-County_CA/overview. https://www.redfin.com/city/16659/CA/San-Bernardino/housing-market. https://walletinvestor.com/real-estate-forecast/ca/san-bernardino/san-bernardino-housingmarket.

www.tHEPOWERISNOW.com

Denise Matthis

Planning to sell?

Here’s The Ultimate Checklist To Make The House More Appealing

Employ A Real Estate Agent

Once you make the final decision to sell your house, the first thing to do and should be at the top of your checklist is hiring a real estate agent. Never make the mistake of thinking you can do it www.tHEPOWERISNOW.com

all by yourself; the result is always a disaster. With the right real estate agent, your house sale will go smoothly and swiftly. Look out for an experienced real estate agent; they would assist you from listing your home to putting up the right price. They also have the right skills to promote your home to buyers and adequately negotiate on your behalf.

Declutter the Home

If making a bad impression is your goal, then cluttering up the place is the best way to do it. The first thing you need to do is make the house less personal; this gives potential buyers a blank canvas to create a mental picture and visualize themselves in the house. A decluttered house looks more spacious and will make a better impression on buyers. Make sure you take out personal items from the house and clear out the storage areas to make space.

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f you have made the decision to sell your house or any investment property that you might have acquired in the past, you’re not alone. The process can be confusing, and there are many questions you might be asking yourself if you’re a first-time seller. One thing to be clear about is that selling a house goes beyond putting up a ‘for sale’ sign. From the minute you make the decision, there are many things to put in place to smoothen the process. A checklist can help guide you through the whole process and ensure you leave out nothing important. With that in mind, here’s the ultimate checklist to make the house more appealing.

This is quite important in every checklist; there is a need to thoroughly clean the house before inviting potential buyers. The best way to do this is to leave the house exactly as you would love to find it. No one wants a dusty, dirty house, and your potential buyers are not any different. If you find the work tedious, there are professional cleaning services to handle it efficiently. Create a separate cleaning checklist to make sure no part of the house is left untouched. Clean the bathrooms and kitchen, wipe the countertops clean, mop floors and pavements, clean up the cabinet, polish your sink fixtures, clean around the refrigerator, and many more. Your cleaning needs to be thorough to ensure your buyers have no reason to be disappointed.

Carry out Maintenance

After you’ve lived in a house for some time, it’s easy to get used to postponing maintenance issues in the house. When it’s time to sell a house, you need to make sure your house is in stellar condition. A properly maintained house attracts better asking prices, and this is what you want. Focus on vital repairs and improvements like leaky faucets, damaged flooring, loose cabinets, plumbing issues, faulty heat, and other maintenance issues.

Provide A Curb Appeal

The first view of buyers counts, and you can improve their first impression by adding a curb appeal. This is sure to attract their attention as they pull up to your home and set you up for a good asking price. If your house’s curb looks plain and unappealing, buyers might not be interested in making an offer. You can trim the bushes, carry out lawn maintenance, try out landscaping, paint the exterior, replace gutters or even add greenery to your home.

Prepare the Home for Staging

You need to stage your home for prospective buyers after cleaning up and decluttering the space. This makes the house even more appealing to prospective buyers who would be coming to take a look. You need to make sure that key rooms look attractive, and just as you’re adding curb appeal, the inside of your home also makes a great impression. If your home is well-staged, it will sell even more quickly and for a good price. You can remove damaged furniture, add new attractive rugs, add modern accessories and greeneries to stage the home perfectly for viewing. Reference https://www.mashvisor.com/blog/the-ultimate-checklist-forselling-a-house/

The Power Is Now Magazine | MARCH 2021

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Clean Up Thoroughly

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Kenneth Session The Bay Area Housing Market: Projecting The Future Of Bay Area Housing Market A Peep Into The Bay Area Housing Market According to C.A.R., Bay Area’s housing price growth in November was the largest price increase in California. Although the pandemic has taken a significant toll on other economic sectors (services, retail, etc.), technology has continued to thrive. San Francisco is a city mainly driven by tech; therefore, the urgent demand for vacancies has doubled as many people are working from home. There is an urgent need for more offices as so many transactions have been taken online. According to a Mercury News, the San Francisco Bay Area boasted an increase in growth during the pandemic as highincome-earning tech workers who were steadily employed leveraged on the lockdown by saving their money (which may have been used for traveling and other leisure activities) and purchasing real estate properties.

It Is Difficult To Own A House In Bay Areas Now Why affordability may not be a problem of homeownership in Bay Areas, availability is. Considering the popularity of San Francisco and the rat race for accommodation, it is almost a task for someone to find a house of their choice. This is because there is an increase in demand for houses, so the competition for who owns and rents a place automatically skyrockets, leaving little space for neophyte investors and homeowners to tussle.

The Power Is Now Magazine | MARCH 2021

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Appreciation Rates Have Worsened Housing Opportunities For LowIncome Earners The extreme competition for housing units has hiked prices, making it even harder for low-income earners to meet up with the cost of living in the area. Even if they manage to secure a place for the meantime, with the increase in demand and consequent increment in the cost of living and properties, they may not be able to maintain their standard of living in the area and might be forced to migrate to where their finances can be accommodated. The Post Pandemic Fate of The Bay Area Housing The pandemic has dealt a big blow to the real estate Bay Area housing market. Considering the population in San Francisco and other Bay www.tHEPOWERISNOW.com

Areas, people may go low on cash due to the lockdown, which is a direct effect of the changes in the means of income generation. That means there may be: Areduction in the price of houses: since many people are out of jobs, some others have a slashed income due to company policies to carry along as many workers as possible. When many people cannot afford the prices of houses and rents, supply will decrease and leave the seller with no other option than to reduce the price. A growth of income inequality: this is because many workers whose work thrived remotely (working from home) may see the need to remain that way; there’ll be little or no difference in their income rate. Whereas people whose job requires physical contact might be needing some help to get on their feet, pay their rents, and even get an

office. These jobs are reliant on income, so, therefore, there will be an unequal rate of income generation for these parties, who may have had it all working out for them previously. There Is Hope However, there are signs that the economy will be stable, as many people who have made so much money from home might decide to go into the real estate market. This will create more homes and more jobs in the Bay Area housing market for the residents. Investors will buy properties at a cheaper rate and make a better profit when the property appreciates later. References https://www.noradarealestate.com/blog/sanfrancisco-real-estate-market/ https://www.mercurynews.com/2021/01/02/ borenstein-the-radical-shift-in-bay-areahousing-jobs-and-transit/ https://www.urban.org/urban-wire/bay-areashousing-crisis-four-charts https://www.kqed.org/news/11818184/bayarea-housing-post-pandemic-whats-in-store

Robert Langston

Looking for a place to stay?

Sacramento County is the go-to place!

www.tHEPOWERISNOW.com

Several Picturesque Neighborhoods to Check Out

When compared to other California cities, Sacramento might seem small. However, if you’re moving from other locations, this mid-sized metropolitan is just large enough for you. There are many quiet streets in the center of the city that you can check out and choose the ideal option for you. Just like other cities in the country, Sacramento County has many safe neighborhoods as well as unsafe neighborhoods to offer you, and you can either choose to live in the city or just outside the city limits in the suburbs close to the County.

Lower Cost Of Living

If you are moving from another California city and looking for a place to stay, you’re sure to develop an appreciation for the lower housing cost and low living cost in Sacramento. If you have a steady income coming in, then the affordability Sacramento offers when l

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lthough there are many attractive and popular places in California to stay, Sacramento might just be the best choice for you if you’re looking to move west. Sacramento County has over 500,000 residents living in the city and more than a million in the outlying suburb. As the real estate market continues to shift, many people are beginning to consider areas like Sacramento. Although this might not actually be your first choice, there are many reasons why Sacramento County might just be the go-to place for you. Some of the things to look forward to are great weather conditions, lower cost of living than other neighborhoods offer, many employment opportunities, and many more. Check out some of the reasons why a Sacramento move will be advantageous to you below.

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compared to California standards is a top reason to move. However, it’s best you make your choice as the prices of homes are steadily growing. The asking price for homes in Sacramento is quite low when compared to other cities in the state of California.

Employment Opportunities

There are high unemployment rates all over the country, and Sacramento is not left unaffected. However, this county still possesses a fair job market for residents. Since Sacramento Country is the state’s capital, there are many state jobs available in the city than other cities in California. When exploring jobs, be specific about your preferred job so you can know the specific market to check out. As the economy continues to improve, Sacramento still remains at the top, and people are becoming more secure in their jobs as they begin to shake off the recession.

You’ll Be Close to Fresh Water

People automatically think of the Pacific when they think of California. Apart from this, California seems to offer little freshwater and is generally

considered dry. This is not the case with Sacramento County as there are many lakes and rivers in this area; this ensures that there’s enough freshwater for you to enjoy. If you prefer water activities, then you would find a stay in Sacramento quite enjoyable. The lakes and rivers in Sacramento County offer a cost-effective way to cool off during the summer.

Vast Cultural Experiences

Sacramento County is one of the leading diverse cities in the country and is, therefore, culturally rich. It is a great choice for a weekend getaway, and there are many art scenes and activities to enjoy within the city. You’re sure to find different cultural events to fit your interest and various backgrounds. Some of the options available are the Carnival, Chinese New Year, Cinco de Mayo, and many more. If you’re into sports, the NBA has a strong presence in the county, and so does the NFL. Sacramento Country has something for everyone, and you only have to explore your options. Reference https://www.lifestorage.com/blog/moving/moving-tosacramento-ca/

The Power Is Now Magazine | MARCH 2021

Understand your Loan Options:

Secured Vs. Unsecured Loans

Briana Frazier

Secured Loan

To put it simply, a secured loan is one where the lender requires collateral from the borrower. This collateral serves as a form of security to shield the lender from financial loss if you don’t pay the loan back. In cases where the borrower cannot meet up payments, the lender repossesses the property used as collateral and sells it to pay off your debt. Loans like mortgages usually require the home being put up as collateral. They are also a common form of title loans as borrowers can place their car or any other valuable property as collateral. The common ground in all secured loans is that the lender is in possession of a valuable property they can possess if you don’t pay the loan. Borrowers are given access to large credit with secured loans, and they are usually considered less risky by lenders. Due to this, most secured loans come with low-interest rates for the borrower.

What Happens When You Don’t Pay A Secured Loan?

If you pay off your loan, you can reclaim your collateral. However, when you default on payments, the lender can choose to repossess your collateral based on the agreement made. Ensure you review the agreement carefully before you take a secured loan. Learn about how early foreclosures could occur if you’re taking out a mortgage to ensure you don’t trigger foreclosure due to late payments.

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f you’re looking to get a loan soon, then it’s a great idea to know your options and which is the right choice for you. Many people cannot tell the difference between a secured loan and which is the best choice for them. Understanding the two loan options is the first step to choosing the right loan option for you. After you gain an understanding of secure and unsecured loans, it becomes easier to consider your options and decide which is the ideal choice for any situation you might find yourself.

Not only does the lender gain the authority to repossess your collateral, but it also reflects badly on your credit history. It could negatively impact your credit score for many years. If the proceeds from your valuable property do not cover your debt when sold doesn’t cover your debt, you will still be required to pay the rest of the balance.

Unsecured Loan

This is very different from the first loan option; this is a loan you can take without collateral. Personal and student loans fall into this category. Credit card loans also do not require any form of collateral as lenders choose to trust your creditworthiness and take your word for it. Unsecured loans are quite risky for lenders, which is why they usually attend to those with a strong credit history and score when giving out unsecured loans. Due to the insecurity that comes with unsecured loans, they usually attract high-interest rates and a shorter payment timeline. This is a loan that you don’t have to risk a valuable property to be eligible for, just a good credit score.

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What Happens When You Default on Payments

Although there is no collateral to lose with unsecured loans, default on your unsecured loan payment could negatively affect your credit history. It could also have a huge impact on your finances as a whole. Once you’re later than thirty days on the due date for an unsecured loan payment, your credit score is significantly lowered and will be reflected on your credit report for several years. The lender could also choose to take legal action against you, which will also be added to your credit report. This would serve as a red flag to lenders you might approach in the future.

Reference https://www.experian.com/blogs/ask-experian/secured-vsunsecured-loans-what-you-should-know/

The Power Is Now Magazine | MARCH 2021

The Future of L.A. Housing Market may be in Condos! Adrian Bates

Unlike other real estate markets, Los Angeles’s number of condo sales increased alongside the condo inventory. There were over 1,381 new listings of condos in September, which is about a www.tHEPOWERISNOW.com

105% year-over-year leap. Luxury condos were in high demand, and the demand for condos listed at more than 1 million dollars was massive. About 286 luxury condos were sold in the last quarter of the year, which was much higher than the 22 sold year-after-year. This showed a 1,200% increase in the Los Angeles condo market. The demand for condos came as a surprise to real estate brokers. This is because most people seem to be on the lookout for single-family properties at the beginning of the lockdown. However, there has been a rising activity in the condo market, and the increase in condo sales has been consistent when compared to 2019 in this same period. Many real estate agents predicted that the coronavirus would be the end of L.A. condos and believed that more homeowners would be interested in space

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lthough the real estate market has been quite volatile, many people predicted that the pandemic was going to set ‘vertical living’ back in Los Angeles. However, this hasn’t been the case, and contrary to expected results, condo deals have skyrocketed in the area. By the end of 2020 first quarter, the condo housing market was already improving in the Westside and Downtown Los Angeles. According to a monthly report from Miller Samuel and Douglas Elliman, there were about 1,419 Condo Sales in Downturn Los Angeles by the end of September, and there was at least a 54% leap in the Westside condo sales market.

and sprawl. These agents are now struggling to understand the latest numbers in the market. The rise in inventory does show that most condo residents in Los Angeles are leaving the city and looking to settle in less-dense communities like the San Fernando Valley, New Jersey, and many other similar counties. Single-family homeowners tend to be those who have kids in school, and condo owners belonged to the single and mobile side. The market seemed to have crashed when in-person sales were prohibited to prevent the spread of COVID-19, but the market seems to be making a comeback in recent times and continues to advance steadily but consistently. Although the year was quite productive for singlefamily homes as there was a rise in sales of such homes throughout the year, many people wanted more space for their money and recognized that rural communities could offer them that; this saw a vast relocation to densely populated communities from major urban areas. There were thousands of home sales in a month alone, but as it drew close to September, the number of listings for singlefamily homes seemed to be plummeting. This is predicted to bet the reason why many people are choosing to settle for L.A. condos.

this trend will carry on through 2021, but there’s no telling how the L.A. real estate market will turn out. If inventory meets the demand of single-family properties, the condo market might cool, but there is no indication of the market trend changing any time soon.

Reference https://therealdeal.com/ la/2020/10/05/surprisesurprise-la-condosales-are-wayup/

Many real estate brokers are confused and do not know how to interpret the sales jump in condos and single-family homes. However, a strong indicator is the low-interest rates in the country. This has made the idea of owning a home even more attractive to homebuyers. The coronavirus’s first wave came with an explosion of single-family property demand, and it seemed the condo housing market is leading the second wave. Hopefully,

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The Power Is Now Magazine | MARCH 2021

Use These 5 Tips to Help with your Rental Application in 2021 Success Money

Your rental application is one of the things the agent, property manager, or landlord will look at to determine if you’re the right tenant for the property. So, it’s important to ensure that your application stands out from the crowd to get it approved. To help you secure the property of your dream, here are some tips for preparing and submitting your rental application. www.tHEPOWERISNOW.com

1. Get the necessary application documents ready. One of the best ways to smoothen your application process is to be as organized as possible. Find out ahead of time the necessary documents needed to complete the rental application. For a standard rental application, the most important documents required will include tax returns for the last two years, a copy of your credit report, proof of employment, a copy of your bank statements, and a letter from your previous landlord. However, these requirements can vary from state to state. 2. Pay attention to details. Paying attention to every detail in your rental application is crucial to avoid giving the landlord or agent a simple reason to skip over your application. Ensure you take your time to read through the instructions to make sure what you fill in is accurate.

“Landlords love to be pleasantly surprised by positive reference letters from your previous landlord. You can take it to the next level by including a couple of personal and professional recommendation letters. And if you really want to knock their socks off, write a personal letter to the landlord introducing yourself and sharing with them all the reasons you’d love to live there,” says Jeanette Colgrove, a real estate broker at Brown Harris and Stevens of Brooklyn, NY.

3. Always communicate with your landlord-to-be. The rental application process can be overwhelming. However, always ensure you communicate with your potential landlord or

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ith the hiking housing prices in the US, the rental market can be very competitive. Fear of missing out can be overwhelming, and you can expect to find yourself competing with up to 50 or more other people for just one property. This shows the significance of preparing your rental application and ensuring you meet the required criteria.

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agent throughout the process. If you need an extra day or two to track down a document, always get in touch through a quick email or text to let them know. Good communication shows your conscientious and thoroughness. 4. Be truthful about your history. When filling out your rental application, being truthful on what you write is always the best decision. If your credit is not so appealing, or if you left your previous apartment on bad terms, the smartest thing to do is come clean and explain yourself. Chances are, your potential landlord or agent has already been through it all. Also, you can seek the help of your real estate agent who can help you solve the problems and streamline the process to avoid rejection from the landlord.

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5. Get a guarantor. If you’re renting for the first time or you don’t have a very good rental or credit history, you can get a financial guarantor who’ll sign the lease and be held accountable in case you fail to pay your rent or damage the property. In other words, a guarantor can add credibility to your rental application. If you’re moving out from your parent’s house, you can use them as your guarantor. If you have poor credit, you can get a family member or friend with good credit and sufficient income to be your guarantor.

Work cited. https://www.realtor.com/advice/guide/rental-application-tips/.

The Power Is Now Magazine | MARCH 2021

Richmond VA Real Estate Market & Investment Overview Joe L. Fisher

hat are the fears you hold about the real estate market? Your friends and loved ones may have mentioned it to you one or more times. You may have seen it in the news, someone in your neighborhood may have bought his first car, and when you asked around, it all balls down in the real estate market. Just like any new business venture, the entrepreneur is always scared of the unknown. That is why this article would encourage you to abandon your fears and stay-the-course in the real estate market, especially if you are interested in Richmond VA.

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Why is Richmond VA Real Estate Market a gold mine? Richmond is the 4th-largest city in Virginia with a population of over 230,000 in the city and more than 1.3 million in the Richmond metropolitan area. According to the Virginia Gazette, it has been growing twice as fast as the state and the nation over the past five years. This inadvertently translated to the unemployment rate being as low as 5.7% (as of October 2020), while job growth in the same year increased by 1.2%. Americans are seeking an environment that accommodates job opportunities and encourages socialization. Richmond VA is the reality of such a craving.

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Why You Should Invest Now. There is a cliché statement that the best time to invest is yesterday, and the next best time is today. It is cliché because it has been tested and proven over time that investment is a money saver and multiplier. You can never go wrong from investing in the right things. With Richmond VA, real estate market, you can never go wrong with your money, as there is an increasing opportunity for the denizens and interested investors to expand their income: getting more jobs, buying more properties, and an increase in immigrants due to speedy commercialization spurred by the engagement of several people from different states.

What to Invest In. Investment properties in Richmond VA you can look into include: • Small apartments because they are a great place to start. Duplexes and bungalows are sort by many, and at such, the prices are higher. • Office apartments because they stay fully occupied most times, and are vacant for longer stretches. Their accessibility and management are easier to curtail. • Land investment property is a big deal as land appreciates. Although it is hard for neophytes, it is readily convertible to cash for people that have been in the real estate game. Conclusion: Just as the real estate market has its pros, it also has its cons. For instance, managing and maintaining an investment property can be tasking as the investor would pay for real estate taxes, insurance, management fees, and maintenance costs. Also, significant inefficiencies caused by purchasing a property based on minimal information (not knowing if you’ve made a good deal until it’s time to inspect and pay for the property) may arise and incur losses for the investor. However, although you can’t control the economy and demographic changes like epidemics and pandemics, you can control many things relating to your physical properties and tenants. That is to say that your real estate investment is directly under your control. The icing with Real Estate Investment in Richmond VA is that with good management, you can tangibly improve the value of your investment and build your wealth. The growth is progressive and can be measured with time. Also, Richmond VA which is a city bustling with opportunity due to its sociable and commercial leverages, and leaves you with a myriad of options on what to buy and where to invest.

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References: https://onesouthrealty.com/investment-property-in-richmondva/ https://learn.roofstock.com/blog/richmond-va-real-estatemarket https://realestate4investing.com/articles/real-estateinvestments/10-advantages-disadvantages-real-estateinvestments

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The Power Is Now Magazine | MARCH 2021

CFPB Well-positioned to Oversee Fintech Task Force Says

task force developed by the CFPB gave a recommendation that Congress should consider giving authority to the bureau, instead of the Office of the Comptroller of the Currency, to issue federal charters to fintech companies involved in lending, payments, or remittances. The five-member task force, established in 2020 to identify the conflicts and gaps in consumer finance law, released a report on January 95, 2021 with over 100 recommendations to CFPB, federal lawmakers, and the state and federal regulators that it cited were aimed at strengthening consumer protections, encouraging competition, and reaching unbanked consumers. One of the main recommendations was that Congress should create a federal charter that allows nonbank fintechs to operate anywhere in the country under the same rules as banks and other firms with similar products and services. “Regulatory uncertainty and unnecessary regulatory costs threaten to inhibit FinTech-based innovation,” the task force said in a 100-page report. Lawmakers could grant chartering power to the CFPB or clarify the OCC’s ability to

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issue such charters, the report indicated. However, it seemed to favor putting the authority in the hands of the CFPB because of its bent toward consumer protection, it indicated. “There is an opportunity for the CFPB to be an even more powerful force to promote consumer protection and welfare, to be a chartering entity for fintechs,” Todd Zywicki, the task force’s chair and a law professor at George Mason University’s Antonin Scalia Law School, told American Banker on Tuesday. “It’s a logical place to do it and its natural for it to be done on a national basis.” The OCC created a specialpurpose fintech charter in 2018, but it was brought down by states and no companies have sought it since. Currently, nonbank fintechs are subject to state laws and are required to register or get licensed in every state they operate. According to the report, compliance with different state licensing and usury laws is posing as a huge hurdle for fintechs. “A company with a nationwide footprint thus may need 50 separate licenses and adjust its practices to conform with each state’s laws,” the report said. “As a result, a non-bank FinTech lender would be subject to different maximum-allowable

interest rates depending on the state, whereas a federally chartered bank providing the same service could charge the interest rate that its home state allows, regardless of the consumer’s location. These costs, and the competitive disadvantages from a segmented regulatory regime, are significant.”

Other recommendations

The taskforce further recommended that CFPB adopt a self-regulatory fair lending program to solve the problem of discrimination in auto lending. Several auto dealerships have adopted the program voluntarily, as the report cited that it could serve “as a valuable compliance option” for fulfilling the requirements of the Equal Credit Opportunity Act. The report further recommends that the bureau adopts the Federal Financial Institution Examination Council guidelines on civil money penalties. The guidelines include a “matrix” of factors currently used by other federal regulators for assessing fines against bad actors that is meant to make the penalties consistent and transparent. Work cited. https://www.americanbanker.com/ news/cfpb-well-positioned-to-overseefintechs-task-force-says.

The Power Is Now Magazine | MARCH 2021

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ith the pandemic continuing to wreak havoc on the US economy, the Fed’s recent survey on bank lending practices revealed that lenders tightened their underwriting standards on consumer and commercial loans during the third quarter of 2020. Lenders that took part in the Fed’s quarterly senior loan officer survey raised the requirements for approving commercial and industrial loans, commercial real estate loans, residential mortgages, credit loans, and car loans.

benefits from the government stimulus packages, even as businesses continued to struggle.

The survey findings released on November 9, 2020 marked the continuation of a trend that began during the first quarter of 2020, when many lenders raised their lending standards in response to the exacerbating economic conditions. During Q3 of 2020, lenders cited the poor economic outlook, several industry-specific problems, and a reduced risk tolerance in supporting their decision to further tighten loan standards starting from the end of Q2 in 2020. Other lenders also pointed out to less aggressive competition from other lenders or a drop in their own current or expected capital position.

Moreover, the Fed asked the participating banks a series of distinctive questions at the end of Q3 concerning their use of forbearance, which was significantly used to prevent defaults amid the pandemic in 2020. The results differed greatly depending on the loan category.

Usually, the tighter standards were often manifested in higher minimum credit score requirements when it came to credit cards and auto loans; while for commercial lending, lenders often raised their collateralization requirements, the premiums charged on riskier loans, and their use of interest rate floors. The findings of the Fed survey on loan demand revealed that the US businesses and consumers were on separate paths at the end of the third quarter, with consumers having drawn several 118

Meanwhile, demand for auto loans, credit card loans, and most categories of residential real estate loans surged in Q3. On the other hand, the demand for commercial loans, industrial loans, and other kinds of commercial real estate credit such as construction loans and multifamily loans was weaker in Q3.

From the survey, about 14% of the participating banks said that more than 5% of their construction loans were in forbearance. On the other hand, about half of all the participating banks said the same about loans secured by income-producing commercial real estate. Nonetheless, nearly 4 out of 10 banks participating in the survey said that more than 5% of their residential real estate loans were in forbearance, while about 9% said the same about credit card loans. on the other side, 15% of the participating banks said that more than 5% of their auto loans were in forbearance.

Work cited. https://www.americanbanker.com/news/banks-tightenstandards-on-consumer-commercial-loans.

The Power Is Now Magazine | MARCH 2021

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Underwriting Standards Likely to Tighten and Negatively Impact Housing Indicators

8 outrageous 2021 predictions for the mortgage industry

f at the beginning of 2020 someone predicted that mortgage originators would experience the best year ever in the middle of a pandemic, chances are that would have been considered outrageous. But did it or did it not happen? Towards the end of 2020, the National Mortgage News reached out to industry watchers and experts who made their wildest predictions more or less about developments the real estate industry and more specifically the mortgage industry is likely to experience in through 2021. 1. The bubble pop. “Banks realize that real estate is in an artificial bubble and rates are artificially low,” said Michael Chadwick of Chadwick Financial Advisors. “They realize that values are likely to go down from here and they’re going to be saddled with fixed rate mortgages that are upside down and [will] crush their balance sheets. They pull back on lending and increase

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standards to what they used to be: 20% down, only top credit with financial reserves and claw back provisions. This is what it always should have been.” 2. Mortgage loans and cryptocurrency. Twenty-five percent of all mortgages (mainly in cities like Austin, San Francisco and Denver) will be made in Bitcoin (BTC). The mortgage will be ‘tokenized’ on a blockchain,” said Harsha Naidu, Tavant’s head of artificial intelligence. “Tranches of a loan will be sold as BTC addresses, packaged together on the secondary market, linked to a BTC Exchange Trade Fund.”

health, more points to you;’ the rationale is as you will be alive, you will keep a job and pay back the loan.” 3. Tesla gets into prefab housing, while Amazon offers title insurance According to Abhinav Asthana, head of product at Tavant, Tesla/Elon Musk will get into the prefabricated housing business. Their

Naidu also predicted a change in the way lenders assess borrowers due to the pandemic. The loan underwriting process will drastically change to include ‘health points’ like, ‘you have got the vaccine, you are in good physical and mental The Power Is Now Magazine | MARCH 2021

On the other hand, Manish Arya, chief technology officer at the company, said, “Amazon [a company rumored to be interested in getting into mortgage] enters the title insurance market, and undercuts incumbents by 50%.” 4. Regulatory invasiveness. “The mortgage industry needs to get ready for regulatory scrutiny. It is like a colonoscopy — no one likes it but you have to face it to determine if you need to address any issues that could prevent future

more damaging problems,” said Sanjeev Dahiwadkar, founder of IndiSoft. “You will see many lenders, servicers and other mortgage-related stakeholders receiving scrutiny from various regulatory agencies including the Consumer Financial Protection Bureau, Office of the Comptroller of the Currency, state agencies and many others.” 5. Expiry of the QM patch won’t lead to more non-QM. “In spite of what I’m hearing, 2021 will not be the year for heavy non-qualified mortgage volume,” said Jim Paolino, CEO of LodeStar Software Solutions. “A likely slow start for the overall economy; the adverse market fee; and a possible rise in the interest rate will prove to be the headwinds that prevent a big year for that product. It will have its place soon, but not in 2021.” 6. Servicing liquidity to increase with low rates “We expect rates to continue to trend low to slightly higher through 2021,” said Michael Dubeck, Planet Financial Group CEO and president. “We also expect valuations and liquidity in mortgage servicing rights to climb as we come out of the pandemic, based on improved delinquency profiles as borrowers work their way out

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of forbearance and investor confidence improves.” 7. Government program to compete with PMI. “The Federal Housing Administration will reduce its upfront mortgage insurance premium and regain market share,” said Daniel Jacobs, Tru Loan Mortgage’s managing direct. “The FHA also will reinstate the sunset of monthly MI to reduce prepayments.” “Depository aggregators will start a price war for correspondent jumbo mortgages. By the fourth quarter, home equity lines of credit will be back in fashion like a runway model,” Jacobs added. 8. Public nonbank lenders’ stock to decline. “Values of publicly traded mortgage companies will fall by 50% as investors fear a decade of weak refinance activity and its negative impacts on independent mortgage bankers’ net income,” Jacobs said. Folks, let’s brace ourselves for an interesting year in 2021.

Work cited. https://www.nationalmortgagenews. com/list/10-outrageous-2021predictions-for-the-mortgage-industry.

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homes will be powered with solar cells, rechargeable batteries and have native intelligent home capabilities.

Women’s History Month: Rightfully Hers- American Women and the Vote

ave you ever thought of being denied the right to vote? Many Americans consider the right to vote a fundamental to the enjoyment of full citizenship. However, in America, the land of the free, women were long denied that right. Until in 1920 when American democracy dramatically widened up when the newly ratified 19th Amendment prohibited states from denying the voting right on gender basis. This iconic voting rights victory was facilitated by decades of suffragists’ persistence in political engagements, and yet it represented just one critical milestone in women’s battle for the vote. Even after the 19th Amendment was passed, polls were still not open to all women. Millions of women were still locked out of voting for other reasons besides gender. As we celebrate the 101 anniversary of the 19th Amendment this year, it’s time to go through Rightfully Hers: American Women and the Vote, which highlights the relentless struggle of the different activists throughout the American history to secure voting rights for American women.

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The U.S. Constitution as drafted in 1787 did not specify eligibility requirements for voting. Instead, that power was left to the states. Subsequent constitutional amendments and Federal laws have gradually restricted states’ power to decide who votes. But before 1920, the only constitutional restriction prohibited states from barring voters on the basis of “race, color, or previous condition of servitude.” States’ power to determine voter eligibility has made the struggle for women’s voting rights a piecemeal process from the earliest days of the republic through the first decades of the 21st century.

suffragists made for women’s enfranchisement reveal their belief that it was an essential tool for protecting their well-being as well as achieving what they saw as women’s fundamental rights as citizens. How was the fight won? The 19th Amendment was not easily won. From the 1830s to 1920, a diverse group of activists

Why fight to vote? Women fought long and hard for the right to vote for a multitude of reasons. Many suffragists argued that the right to vote should be universal and that it was unjust to bar American women from the polls. They also argued that women’s inability to vote resulted in tangible economic, political, and social harm to them, their families, and their communities. This section features a few of the countless stories from women whose lives were affected by their inability to vote. The arguments that The Power Is Now Magazine | MARCH 2021

aotus.blogs.archives.gov

used a multitude of strategies to win voting rights for women. Some focused on amending the U.S. Constitution. Others appealed to the states for women’s admission to the polls. The activists lobbied privately in their parlors and publicly in the halls of Congress. They wrote articles and circulated petitions, preached from soap boxes and pulpits, organized massive marches, and suffered jail terms. These efforts secured piecemeal victories that gave millions of women the vote before 1920 and made

The passing of the 19th Amendment. On September 30, 1918, President Woodrow Wilson urged the U.S. Senate to vote for a woman suffrage bill passed by the House of Representatives earlier that year. From the results, the measure fell two votes short of the twothirds majority needed for a constitutional amendment to be approved in each house of Congress. The following year, enough congressmen supported woman suffrage to pass the joint resolution in both legislative houses. On June 10, 1919, Wisconsin, Illinois, and Michigan all ratified the 19th Amendment, just six days after the measure passed Congress. New Mexican suffragists, led by Adelina OteroWarren, fought furiously to convince their state to ratify the 19th Amendment. They later won on February 19, 1920. www.tHEPOWERISNOW.com

The fight was not yet over. After the ratification of the 19th Amendments, the struggle went on. Millions of women, especially women of color and poor women, were still denied the vote for reasons other than sex. The struggle went on and the discriminating election laws have since been dropping one after the other. Over the last101 years, millions more women (and men) secured their voting rights as laws changed and discriminatory practices designed to keep certain voters from the polls were eliminated. The promise of the 19th Amendment, however, is yet to be enjoyed by all American women as election laws continue to change and many women still face barriers to voting. Work cited. https://museum.archives.gov/rightfullyhers#:~:text=Rightfully%20Hers%3A%20 American%20Women%20and%20 the%20Vote%20celebrates%20the%20 100th,for%20reasons%20other%20 than%20sex.

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possible the triumph of the 19th Amendment to the U.S. Constitution.

High-Poverty Neighborhoods Bear the Brunt of COVID’s Scourge

By the end of November, the analysis showed that 49 residents out of every 1000 in poor urban areas tested positive for coronavirus. Compared to affluent urban 124

areas, only 16 out of each 1000 residents tested positive for the coronavirus. Epidemiologists have stated that these findings are evidence of the risk being posed to low-wage workers who usually carry out jobs the state and federal government has tagged essential during the pandemic. Such jobs include: • Meat processors. • Hospital janitors. • Home health aides. • Grocery store clerks. • Other retail and service jobs that keep the rest of the residents comfortable and well-fed. The Power Is Now Magazine | MARCH 2021

www.kcet.org

s the pandemic continued to rage, the high-poverty neighborhoods seemed to be more affected and battered with COVID-19 infections than the affluent areas. This is a trend that highlights the higher risks low-wage workers face in the COVID surge. A review by California Healthline made from local data from a dozen populous counties has revealed that communities with high-poverty rates have about three times more confirmed COVID-19 infection than the wealthier area.

Jobs like these cannot be handled remotely, and therefore, such people stand the risk of being infected by the coronavirus. People in these poor urban communities live paycheck to paycheck, and even when they don’t feel okay to go to work and want to quarantine, the need to pay rent and also meet up with bills overcomes their desire.

patients were usually low-income earners, and about 30% of them don’t have insurance. The pandemic cases’ surge has affected these communities more speedily than the affluent neighborhoods have been affected. The communities close to the Mexican border have the lowest socioeconomic status and are hit the hardest by the COVID-19.

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These communities’ residents also state that their employees usually refused to give them leave to miss work, except there is a formal statement issued that they needed to stay home. Failure to meet this requirement and they stood a chance of losing their job. Although research shows that low-income residents are doing just as much to curtail the spread of the virus, they only seemed to have a problem maintaining physical distance when it came to work-related issues. The COVID-19 might be hitting the high-poverty neighborhoods more because most of these While examining income and the coronavirus infection rates, the California Healthline used data that showed the number of infection cases in twelve populous counties. The rates were then cross-referenced with each county’s poverty level, and the poverty line was set at $26,00 annual income for a family of four. This analysis further revealed a trend in the COVID spread as neighborhoods in the same city, which are usually separated by miles, only had significantly different infection rates. The higher infection was found in areas with higher=poverty rates. A clear example of this division could be seen in the case of Southern Oakland and the Upper Rockridge neighborhood. 30% of residents lived below the poverty line in Southern Oakland, and about 54 out of every 1000 residents were found infected. Upper Rockridge, which was just some miles north, had only 5% living below the poverty rate and could only count 4 out of every 1,000 residents infected.

neighborhood residents tend to live in crowded households. Isolating becomes much harder when you’re poor; there’s not enough space to separate from the rest of the household. Therefore, other household members also stand the chance of getting infected by the virus. Dr. Kirsten Bibbins-Domingo, who is the professor and chair of the Department of Epidemiology and Biostatistics at the University of California-San Francisco, has stated that it is usually expected that poor communities have a higher infection rate during a pandemic. Therefore, the policymakers need to put protections in place to help such communities address their needs in the pandemic.

The Family Health Centers of San Diego further supports this claim by stating that 90% of

Reference https://khn.org/news/article/high-poverty-neighborhoodsbear-the-brunt-of-covids-scourge/

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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.

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The Power Is Now Magazine | MARCH 2021

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.