NOVEMBER 2021 Vol. 08 | Issue 11
THE ROLE OF LENDERS IN INCREASING MINORITY HOMEOWNERSHIP Page 120
HOW HAVE LANDLORS SURVIVED DURING THE PANDEMIC?
VETERANS & THANKSGIVING DAY
Page 16
Page 132
ALANNA MCCARGO President of Ginnie Mae
HAVE YOU READ OUR PAST ISSUES YET? the power is now
magazine CENTRAL EDITION Vol. 08 | Issue 11
Eric Lawrence Frazier, MBA Publisher Office: (800) 401-8994 Ext. 703 Direct: (714) 361-2105 eric.frazier@thepowerisnow.com www.thepowerisnow.com EDITORIAL TEAM Sheila Gilmore Editor in Chief (800) 401-8994 ext. 711 sheila.gilmore@thepowerisnow.com Daniels George Managing Editor (800) 401-8994 ext. 712 daniels.george@thepowerisnow.com Goldy Ponce Arratia Graphic Artist and Design Manager goldy.ponce@thepowerisnow.com
CONTRIBUTORS The Power Is Now Research Team
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CONTENTS
NOVEMBER 2021 POWER TECHNOLOGY Pg. 22. PropTech: Does The Industry Fully Understand The Massive Potential of this Technology? Pg. 24. Clubhouse 101: A Real Estate Agent’s Guide to the Newest Social Networking App
THE CEO CORNER POWER GREEN Pg. 8. California’s Climate Change War: Almost Lost it....But The State Is Back On Track! Pg. 10. Tech On Climate: Facebook’s New Sustainability Goal To Restore more water than it uses by 2030.
POWER ECONOMICS Pg. 14. California’s High Cost of Housing: Cost and Consequences to the Economy
POWER REAL ESTATE Pg. 16. Survey: How Have Landlords Survived During The Pandemic? Pg. 18. Re-imagining Rural America: Reviving Our Communities by Tapping and Leveraging Community Assets
POWER LENDING Pg. 20. Changes to the GSEs Capital Rules and How they AFfect the Lending Landscape. 4l
Pg. 26. Some words on Dave Shappelle, by Gary Acosta.
CENTRAL EDITION: Pg. 31. Commercial Real Estate in the Digital Age: Is Customer service as important, by Steve Peterson. Pg. 35. How to value your home accurately in San Francisco, by Norman Green. Pg. 39. Here’s how to prepare yourself for homeownership while renting, by Johnnie Morine. Pg. 43. Which mortgage is right for you? Part Two. Understanding the Types of Mortgage Terms, by Sharon Bartlett.
EAST COAST EDITION: Pg. 49. Do you know how to spot a rental assistance scam in Maryland?, by Emerick Peace. Pg. 53. What do you do when you have multiple offers (and are all good?), by Adriana Montes.
WEST COAST EDITION: Pg. 59. 5 red flags Veterans and Military homebuyers in Arizona should watch out for when buying a home, by Yvonne McFadden. Pg. 63. Arizona Housing market Insights for Q4, 2021, by Peggie Simons. Pg. 67. Here are some of the things that will affect your home’s resale value, by Kamesha Keesee. Pg. 71. The True cost of selling a house (What’s your net?), by Ruby Frazier. Pg. 74. Meet Alana McCargo, President of Ginnie Mae. Pg. 81. Tips For Buyers: Are You asking Your Agent all the right questions?, by Cornelius Jackson. Pg. 85. Real estate market update: A Snapshot of Corona Housing Market, by Jenny Gonzalez. Pg. 89. How to avoid falling victim to fraudsters in the homebuying process, by Danon Burnside. Pg. 93. San Diego Housing Market Statistics for Q4, 2021, by Denise Matthis. Pg. 97. How to get a good deal during the holiday season, by Robert Langston. Pg. 101. Fireproofing your house in Whittier, by Briana Frazier.
Pg. 105. L.A’s topmost affordable neighborhoods, by Adrian Bates. Pg. 109. Why is it mandatory in California when you finance a house to get insurance?, by Success Money. Pg. 113. Here’s how to help your kids cope with a move, by Joe Fisher.
POWER LEGAL Pg. 116. Four Legal Problem Areas In Real Estate
POWER MORTGAGE Pg. 118. Analysis: Two Months After Moratorum’s End, How is the Foreclosure Activity Pg. 120. The Role Of Lenders in Increasing Minority Homeownership
POWER HEALTH Pg. 130. National Epilepsy Month
POWER HISTORY Pg. 126. National American Indian Heritage Month Pg. 132. Veteran’s Day Pg. 134. Thanksgiving Day l
5
FROM THE EDITOR
J
ust one more month to go, and we’ll be done with 2021!
Wow, it feels like it was just yesterday; we were all in the grove for the new year, and now we are ready for the holiday season? Time really does fly this side of the world. This year we have seen amazing things happen here at The Power Is Now Media. We have had the pleasure of working with amazing people and companies, and from the bottom of our hearts, The Power Is Now Media salutes you. Moving forward, I am so excited about the future. We have a couple of projects in the timeline, and this is something you really don’t want to miss. First, I am happy to announce the launch of several homebuyer seminars done locally by our VIP Agents. For those who are not familiar with this, the homebuyer seminars are dedicated to the homebuyer. We give you amazing tips and information to help you achieve the American Dream of Homeownership. Initially, this was a national show, but with the collaboration of our VIP Agents, we have decided to make it local such that each agent will be hosting a homebuyer seminar for the area they represent. In addition, the other project we are working on is The African American Wealth Initiative Project which we’ll roll out in 2022. And by the way, everyone is invited, so if you would like to partner with us on this project, reach out to me today. So, the November issue of TPIN Magazine is loaded with tons of information to keep you informed throughout the month. On the cover this month is Alanna McCargo, the Nominee for the president post at Ginnie Mae. She fills a gap that has been left vacant for about five years! A gap that has lasted the previous administration. I am excited because McCargo understands the policy, having been at the Urban Institute leadership team. Therefore, she will be a positive force in the housing industry, something we can all agree we need. Other than that, but still, in the housing industry, the GSEs have enacted a bond to support affordable housing, and I feel this has been a long way coming. We have to reach a point where we can all agree that affordable 6l
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
housing is a crisis and must be treated with the same weight as the pandemic. What the GSEs, specifically Freddie Mac, have done is just to scratch the surface of an iceberg. This decade-old problem can only be solved if all stakeholders come on board and give their 100% to fight this problem. Lastly, this issue also features articles like the right mortgage for you, advice for sellers facing multiple offers, and all are good, how you can prepare for homeownership while still renting, among many others. Of course, this edition cannot be complete without some hacks and valuable tips for our agents. Get reading! Stay sharp, and happy new month!
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The Power Is Now would like to thank our readers, listeners, and contributors for their continued support. We invite you to join us online for invaluable blog posts, engaging radio shows, and the latest issues of our magazines to enhance your learning in the field of real estate, finance, and success. You have the power to change your life because The Power Is Now.
ERIC L. FRAZIER MBA President and CEO The Power Is Now Media, Inc.
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SHARON BARTLETT
(800) 401-8994 ext. 712 Sharon.Bartlett@thepowerisnow.com www.thepowerisnow.com
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California’s Climate Change War: Almost Lost It … But the State Is Back on Track
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limate change is arguably the most talked about topic in California right now. All fingers point at Democratic State Governor Gavin Newsom’s policies to transform the state from fossil fuel consumption to green energy. Right from time, the Governor has been a strong advocate of green energy and fossil fuels elimination. One thing is clear; Governor Gavin may have many faults, but his policies on saving the climate have been on point so far, considering the wildfires, unclean air, and even droughts that Californians have experienced over the years.
recall the Governor on multiple issues, including his policies on green energy, despite his efforts to make the air cleaner and better for humans and unborn generations. The GOP called his climate change policies “erratic”, and etched a plan to oust him with the intent of rolling back the state’s plans to transition into green energy.
For the last few months, there have been calls to
One of the 46 candidates and the front-runner Larry Elder was one of those against the Governor’s ambitious green energy plan. Elder, a conservative radio host and staunch supporter of former American President Donald Trump, revealed his plans to “stop the war on oil and gas”, spreading false information that global warming
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THE CLIMATE WAR WITH CONSERVATIVES
war yet. Fortunately, the recall plan had raised over $71M for Gov. Newsom from 90% of Californians, a feat that surprised even the GOP.
alarmism was a crook. His belief in this theory led to several people questioning his role in California’s worsening wildfire season, but the Republican candidate denied it and blamed the management of forests as the blame for the blazes. In an interview with ABC, Newsom fired back at Elder for his rash comments on climate and misinformation, arguing that his opponent doesn’t know what he is talking about. Apart from Elder, GOP candidate John Cox, opined that the state should produce more natural gas, and become like the Saudi Arabia of the West. However, he raised a valid point by stating that regulations on climate change have cost California a tremendous amount of money.
GOV. GAVIN VINDICATED IN THE SEPTEMBER 14 RECALL ELECTION Fortunately, Governor Gavin Newsom defeated his rivals in the recall election that was slated for September 14. A majority of California voters decided Gov. Gavin Newsom’s fate by voting against the recall plan orchestrated by the GOP. After the victory, Gavin thanked Californians for voting against the recall. Larry graciously accepted defeat but reiterated that the GOP hasn’t lost the
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What does the recall election win mean for Newsom and Californians at large? It implies that the proposed transition from fossil fuels to green energy would continue to remain a top priority. Already, California has legislation to cut carbon emissions from the state’s air resources board by 2030 and a requirement for all trucks sold in the state to maintain carbon-free emissions by 2045. The Governor has also signed an executive order for all new cars to be electric in the next 14 years and a ban on new cracking permits from 2024. If the GOP had won the recall election, most key climate change policies would have gone down the drain. Most importantly, the impact on California would be devastating, and damage could be irreversible. California almost lost it, but the state is back on track. This means that soon, houses that utilize other forms of unclean energy will become obsolete. Green energy is here to stay, therefore, you need to
reach out to one of our agents to get you the next home that would save you energy costs and utility bills. ABOUT ERIC L. FRAZIER Eric L. Frazier MBA is a licensed Mortage Advisor NMLS 461807 with First Bank. He is the founder and CEO of The Power Is Now Media, a multimedia company that helps investors create wealth through real estate. Eric L. Frazier is vastly experienced and has been in the real estate industry for decades. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com. Published by Eric Lawrence Frazier, MBA. References https://www.npr.org/2021/09/14/1035848090/ california-recall-governor-newsom-results-elder https://www.cnbc.com/2021/09/11/california-recallvote-newsom-whats-at-stake-for-climate-policy.html
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Tech on Climate: Facebook’s New Sustainability Goal to Restore More Water Than Its Uses by 2023
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acebook is one of those companies that has never hidden its interest in combating climate change and opting for initiatives that will mitigate various environmental challenges through technology. As part of its plans to continue to create initiatives for the betterment of the world, the tech giant announced the rollout of its latest initiative to combat climate change. Speaking at the 56th Munich Security Conference, Facebook CEO Mark Zuckerberg revealed that the company’s latest initiative is to restore more water than it consumes by 2030. The new sustainability goal would redirect the company’s efforts to regions that use fewer water resources and highrisk areas that face water supply issues. Currently, Facebook uses about 3.7 million cubic meters of water for cooling the banks of the various computers it uses in its data centers. WATER SUSTAINABILITY IMPORTANT TO CURBING THE EFFECTS OF CLIMATE CHANGE Sylvia Lee stated that Facebook would focus on various high-risk areas with limited access to the water supply. According to the lead sustainability water initiative at Facebook in an interview, wildfires, droughts, floods, are some of the biggest impacts of climate change connected to water. California, the headquarters of Facebook, has seen the most intense wildfire and record heat waves in the state’s history due to climate change. Earlier in August, the UK released a report, drawing the attention of concerned parties to take action against climate change. The organization warned of impending global warming that could go above pre-industrial levels in the next two decades 10 l
if something drastic isn’t done immediately. According to the UN report, global warming at 2°C, the heat would get extreme, and at this level, it would become too unbearable for agriculture and human health. Facebook isn’t the only big tech company making plans to go green. Apple has also stated that it supports the clean energy project the Biden administration has proposed, which tends to eliminate greenhouse gasses by 2035. Snap also unveiled its climate strategy to minimize greenhouse emissions and use 100% renewable energy. Amazon has also revealed its climate change initiative “Climate Pledge.” The initiative aims to cut carbon emissions by 80% in 2024. Aside from big tech companies, Pepsi has taken a similar step to make available water supply. The company promised to replenish more water than its uses by 2030. In addition to the water initiative, Facebook also pledged to the planting of 70,000 trees in California to help restore the lands burned by wildfires in 2018. Facebook had previously set up a fund to support the Colorado River Indian Tribes System to stabilize the water levels of Lake Mead in Arizona. The company said it would expand its efforts to other countries, such as Singapore and UK. Facebook confirmed earlier this year that it was now reliant on renewable energy months after the company set a goal to become net zero in September last year. With the world driving towards green energy, it’s important to note that the housing market will not THE POWER IS NOW MAGAZINE | NOVEMBER 2021
be left behind. Some landlords ad owners are already building green estates. Why don’t you tap into this opportunity and get yourself a nice apart devoid of harmful carbon emissions? Contact Eric Frazier to help secure your next comfortable home. ABOUT ERIC L. FRAZIER Eric L. Frazier MBA is a licensed Mortage Advisor NMLS 461807 with First Bank. He is the founder and CEO of The Power Is Now Media, a multimedia company that helps investors create wealth through real estate. Eric L. Frazier is vastly experienced and has been in the real estate industry for decades. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com. Published by Eric Lawrence Frazier, MBA.
References https://www.cnbc.com/2021/08/19/facebook-pledges-to-restoremore-water-than-it-uses-by-2030-.html
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LEADING THE CONVERSATION ABOUT REAL ESTATE
JOIN THE POWER IS NOW MEDIA VIP AGENT PROGRAM TODAY!
CONTENT MARKETING is the foundation of any successful brand The Power Is Now Media: 3 Reaches over 11 million households through our website, social media, and podcasts. 3 Starting Nov. 2021 Reach of 300 Million Households through Apple TV, Android TV, Roku, Fire Stick, and our own TV App
3 Brand your company 3 Promote your listings and business nationally on online Radio and TV 3 Promote your listings and business nationally in our monthly The Power Is Now National Magazine, and in our weekly Real Estate Magazine and Program Guide 3 Network with industry leaders and top agents 3 Lead generation opportunities and support 3 Business support, technology and marketing services
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*Advertisement contains general program information, is not an offer for extension of credit nor a commitment to lend and is subject to change without notice. Example based on 97% Conventional First Mortgage Loan combined with 7% in down payment and clossing cost assistance. For complete program guidelines, loan applications, interest rates and annual percentage rates (APRs) contact a GSFA Participating Lender. Golden State Finance Authority (GSFA) is a duly constituted public entity and agency. Copyright © 2021.
CALIFORNIA’S HIGH COST OF HOUSING:
Cost and Consequences to the Economy
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alifornia is one of the most popular spots for real estate investments in the United States. Housing investors have maximized their profits countless times in the property market due to the rapid rising costs. Despite how thriving the housing market is in the state and how much money it has put into the pockets of investors, it remains the state with t highest poverty rate when it comes to family resources vs housing costs and prices of necessities like food.
Of course, a lot of people sought houses that were bigger than their previous homes for more office spaces and playing ground for their children. However, this factor isn’t enough to justify the rising cost of houses in California. Besides, houses have always been expensive in the state, so only the pandemic can’t take the fall. 14 l
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
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While measures from the state and federal governments, such as rent relief and evictions moratorium have provided some sort of respite to many families, the high housing cost makes it even harder to alleviate lack in the longer run. Home prices skyrocketed during the pandemic-recession era, which came as a slight surprise, considering the lockdown and the shutdown of many government establishments to curb the spread.
A Look at the California Poverty Measure (CPM) Data of 2019 The CPM data of 2019, developed by the PPIC, measured the poverty rate in California in 2019, including the cost of living, family, and safety net benefits before the pandemic went full blown. According to the data, 16.4% of Californians lacked the required resources to meet their basic needs. Nearly one in every six Californians lived close to poverty, while more Californians would have lived in poverty if not for the intervention of safety net programs. In 2020, the figure must have doubled due to the constrained job opportunity. Safety net programs are designed to keep children out of poverty by lowering the poverty rate of families. The ETIC lowered these rates by 1.6 points, while CalFresh and Child Tax Credit lowered the poverty rate by 1.3 points and 1.1 points. The poverty rate amongst adults 65 and older and children are highest with 18 and 17.6% respectively. Immigrants accounted for 21.6% and 21.4% Latinos lived in poverty, 4% more than African Americans. If 2013 housing costs had extended to 2019, more than 800,000 Californians should have been out of poverty. Judging by the figures from various safety net programs, over 1.4 million Californians moved out of poverty. Latinos and Blacks were the highest representatives. This outlines the importance of housing and the role it plays in terms of cost of living. Cost of housing in California WWW.THEPOWERISNOW.COM
is exorbitant, and until it’s addressed, Californians will struggle to make ends meet while paying rents. Not to mention a possible humanitarian crisis and increase in crime rate. The government has taken some huge steps to address the various housing challenges with the Comeback Plan, but more needs to be done to ensure that only a fewer number of Californians would have to go through to survive in the state. Despite the high cost of housing, you shouldn’t let it hinder you from getting a home in California. You can still get an apartment at a fairly good deal with the help of one our real estate agents. All you have to do is to reach out to one of them. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow. com. Published by Eric Lawrence Frazier, MBA.
References https://www.ppic.org/blog/californias-high-housingcosts-increase-poverty/
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Survey:
U
ndoubtedly, the Covid-19 pandemic has had a tremendous effect on the renter community since its emergence in 2020 in the United States. The Census Bureau’s Household Pulse Survey revealed that one in almost five renter households were behind on rent as of December 2020. Fast-forward to 2021, the rent arrears crisis sprang up as a result of the pandemic amounts to about $57B. Yet, no one knows how the rental property owners are faring in this financial constraint period. We seem bothered by the renters but forget that the landlords are also affected because without rents, their means of livelihood is cut short. From February to April this year, a survey was conducted by the Bloomberg Harvard City Leadership Initiative, the Harvard Joint Center for Housing Studies, and the Housing Initiative at Penn, with over 2,500 respondents.
How Have Landlords Survived During the Pandemic neighborhoods and communities. These neighborhoods are primarily the abode of people of color and the Hispanics. Nearly 40% of properties in these neighborhoods had 10% rental shortfalls or more compared to 30% of the properties in higher-income areas. The share of landlords that granted rental extensions increased from 15% to 48%, while those that deferred property maintenance rose from 5% to 31%. Other things landlords did to manage their portfolios during the pandemic include forgiving a portion of back rent and decreasing monthly rent. Generally, landlords of all sizes struggled to collect rent in 2020. As the number of rental units in one’s portfolio increases, so are the chances of at least one unit falling behind in rent. It isn’t that the renters are refusing to pay their rents intentionally, the financial strain caused by the
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RENT COLLECTIONS WAS DOWN IN 2020 COMPARED TO 2019 The researchers discovered that the number of landlords who collected 90% or more of their charged rent per year fell from 89% to 62%. Additionally, only about 9% of landlords collected less than half of their yearly rent in 2020. This implies that the amount of rent they collected dropped massively in 2020 due to the pandemic. Non-rental payment rose disproportionately in lower-income 16 l
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
pandemic exacerbated the status of these renters, particularly the people of color. How Landlords Survived During the Pandemic Landlords employed different business tactics to survive during the pandemic. More than 50% of landlords in 2020 reportedly granted rental extension to at least one of their tenants, while reducing tenant late fees and rental fees. Most of these practices were not prevalent in 2019, but the financial status of renters in 2020 influenced these practices. Many owners altered their practices to recover funds by cutting rental costs, waiving the late penalty fees, and reducing investments. Reducing investments meant that buildings that were old won’t be renovated to avoid costs, which might affect the health of the tenants. This is particularly common in communities dominated by Blacks and the Hispanics. Fast forward to 2021, the number of people behind rent was alarming due to the extension of eviction moratorium. Several landlords felt this was unfair to them, considering the steps they had taken to
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mitigate the effects of the pandemic on the tenants and the owner. The Supreme Court finally ended the eviction moratorium. Are you a landlord and are looking for the best possible way to rent your property? We can help you to reach out to the right clients for your property. Contact one of our agents on our website at www.thepowerisnow.com. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com. Published by Eric Lawrence Frazier, MBA.
References https://www.jchs.harvard.edu/sites/default/files/research/files/harvard_jchs_ covid_impact_landlords_survey_de_la_campa_2021.pdf
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Reviving Our Communities by Tapping and Leveraging Community Assets
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y a rural community, everyone thinks of it as something less urban and perceived as lacking. This results in people focusing on the challenges of these communities rather than their strengths or what they are good for. Rural communities do not deserve to be treated as underdeveloped areas.
of a place, and government can leverage on communities that score strong scores in these areas alongside natural resources to foster a better infrastructural development.
There are still great houses in these communities that are secure and comfortable. If you have wanted to live in these areas, but haven’t got a These communities have history, diverse cultures, house yet, our agents will help you do that expertly. and people. They are much more than how we All you have to do is to reach out to Eric Lawrence perceive them to be. Many are rich in resources and Frazier, and he would be quick to respond. potential, and by comprehending their strengths, policymakers can leverage them to build a better ABOUT ERIC L. FRAZIER community revolving around their resources and Eric L. Frazier MBA is a licensed Mortage Advisor potentials. Eventually, this will better the lives of the NMLS 461807 with First Bank. He is the founder inhabitants. But, how can the government leverage and CEO of The Power Is Now Media, a multimedia these assets to revive the communities and make company that helps investors create wealth them better havens? through real estate. Eric L. Frazier is vastly experienced and has been in the real estate QUESTIONS THE GOVERNMENT MUST HAVE industry for decades. ANSWERS TO You can only do this by studying the various census tracts based on these seven groups - natural, human, financial, cultural, built, social, and political capital. How many of these people in rural areas have access to broadband internet, domestic emergency operations, highways, transportation stations, affordable housing, and cell service coverage? How many has access to convention centers, cultural employment occupations, banks and credit unions, financial institutions, child care centers, college and universities, farmers’ markets, health instance coverage? Do they have access to oil and natural gas? And if they do, what is the quality of air in the area? Income, education, and health are three assets that describes the development 18 l
ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com. Published by Eric Lawrence Frazier, MBA.
References https://reenvisioning-rural-america.urban.org/
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
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Changes to the GSEs Capital Rules and How they Affect the Lending Landscape
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n mid-September, the FHFA proposed the amendment of the regulatory minimum capital requirement that applied to the two government-backed enterprises Freddie Mac and Fannie Mae. This requirement is called the enterprise capital rule (ECR). While many assume that the amendment will significantly reduce the total capital required by the enterprises, the real aim of it is to remove harmful distortions that create some form of monetary reward for the two government-backed agencies to hold high-risk assets. This, in our opinion is counter productive. The ECR is a well-known rule that politicizes the housing policy in the country. The first ECR proposal was in 2018, when the FHFA director Mel Watt, called for a total capital requirement based on last September’s GSE balance sheets. It was later revised to reflect 2017’s tax rate changes. Everyone appraised the proposal, considering that it would cover stressed-market losses and provide the GSEs with incentives to manage their risks. However, there were some concerns as to whether the GSEs would raise enough capital to pull them through in bad times. The final changes were not made to the proposal until Watt left office.
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CALABRIA REVISES THE ECR PROPOSAL Former President Donald Trump appointed Mark Calabria to be the next FHFA director, a year before the country’s general elections. Mark Calabria had a history of making comments that was tailored towards eliminating the role of Fannie Mae and Freddie Mac in mortgage markets. In his tenure, the FHFA revised the ECR proposal and proposed a new rule to establish modern minimum regulatory capital requirements.
affect the housing finance and impact how the companies can act in the future. This will most likely translate into an increased cost for a mortgage. According to public comments, the proposal was thorough and well thought, but had some complicated risk-based capital requirement calculations. Calabria published the final rule six months later. The final rule intended to address three critical issues; the total amount of capital required was too high, the specifics of the risk-based capital requirement were distorted and weren’t in line with the GSEs risk-monetary rewards, and the high leverage capital requirement. However, Calabria and the FHFA ignored some of these feedback and proceeded to publish the final ECR rule. It was obvious that the rule would be revised once Calabria’s tenure elapses. President Biden appointed Sandra Thompson as Acting Director in June, and immediately, she sought to make some provisions to Calabria’s earlier published rules. It’s likely that the technical issues ignored by the past director would be addressed for the better running of the GSEs. Provided that you fulfill all the requirements, you can be eligible for a mortgage loan. Thankfully, the interest rates are low, so you can make good use of this opportunity to get a home. For the best affordable property, you need an experienced real estate expert to search for the ideal one for you. Take your chance and contact us. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-4018994 Website: www.thepowerisnow.com. Published by Eric Lawrence Frazier, MBA.
Since the government-backed enterprises own about 45% of all outstanding single-family mortgages in the United States, the rule could
Reference https://www.jchs.harvard.edu/blog/newly-proposed-changes-gse-capital-rulewill-eliminate-harmful-distortions
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PropTech is a name that is becoming associated with the real estate industry. Also known as Property Technology, this refers to a wider use of technology to help property owners, tenants, and even landlords to manage their assets conveniently. The aim of property technology is to owning, renting, and building straightforward and efficient for everyone, whether it is facilitating transactions between tenants and landlords, buyers, and sellers, or reducing paperwork. Yet, not everyone understands this potent tool and its application in THE POWER IS NOW MAGAZINE | NOVEMBER 2021
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PropTech: Does the Industry Fully Understand the Massive Potential of this Technology?
any niches are leveraging technology to improve service delivery and foster efficiency. The real estate industry is no different from those niches. Recently, the housing market has started to leverage technology, and various companies are pushing for ways to transform the ever-changing digital landscape.
2000s, PropTech companies weren’t so popular because the industry at the time wasn’t ready to adopt the digitalization process just yet. Then, it was called PropTech 2.0.
the housing market? PropTech overlaps with the FinTech sector - financial technology companies that use digital methods to improve financial services, Smart Real Estate - innovative tech devices that help in the building of smart homes, and ConTech - the use of technology for construction. So, you can say that PropTech comprises of all the above. Why PropTech Is Important PropTech in recent times have dominated the real estate market, particularly because of the amount of money flowing into the sector. In the early WWW.THEPOWERISNOW.COM
However, the pandemic accelerated the adoption of PropTechs, currently known as 3.0. The lockdown restricted movements, so the art of physically buying and selling properties was limited. Hence, the need for property technologies. With these, you can schedule virtual tours around properties and facilitate the purchase of homes securely. These innovations can also help tenants make payments via mobile apps. Landlords can send push notifications to alert tenants of new property listings, and even remind them when their rents are due. PropTechs are here to stay. At least, for a long time because they make the process of buying and selling alongside property management easier than ever. This innovation can help in a post-pandemic world by saving people time and money, while fostering automation. Selling a property isn’t easy, considering the number of houses available available for sale. However, you can leverage technology to improve your chances of selling, and there’s no better place to reach out to than The Power Is Now agents.
Here, we leverage technology to maximize sales and manage properties efficiently. Contact Johnnie Morine on how to get started. ABOUT ERIC L. FRAZIER Eric L. Frazier MBA is a licensed Mortage Advisor NMLS 461807 with First Bank. He is the founder and CEO of The Power Is Now Media, a multimedia company that helps investors create wealth through real estate. Eric L. Frazier is vastly experienced and has been in the real estate industry for decades. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow. com. Published by Eric Lawrence Frazier, MBA. References https://www.theimpactivate.com/how-proptech3-0s-innovations-in-real-estate-technology-cantransform-the-industry/ https://bungalow.com/articles/proptech-what-it-isand-why-it-matters-to-homeowners
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The real estate industry is an evolving industry that is now leveraging digital methods, including the use of social media to make lots of things happen. Lately, a new social media networking app has been trending, but only a few people know what this a billion dollar app does and its importance to businesses. Let’s introduce you to the newest social media networking app Clubhouse.
CLUBHOUSE 101: A Real Estate Agent’s Guide to the Newest Social Networking App WHAT IS CLUBHOUSE? Clubhouse is an audio-based app that allows people to talk, discuss certain issues, meet interesting people, and develop ideas. Think of this app as a podcast, where only voice are heard and no images. A lot of people are already using the app as a marketing tool for their businesses. For over a month, the app has become a spot for real estate agents to discuss and share best practices, get relevant information and ideas along the lines of investment opportunities. Unfortunately, this app is in the beta stage and can only be accessed by iPhone users. HOW TO GAIN ACCESS You can gain access in two ways - by being invited by an existing user and by downloading the app. In the first method, the existing user offers an invitation to the new user, and as the latter interacts within the app, they would be granted more to share. If you download the app, your friends who are existing users will be notified, and 24 l
may let you in without sharing their invites. Once you have been able to access the app, you will be prompted to create a profile. Ensure you put up a stunning and crisp profile photo and write an engaging bio that give other users insight on who you are and what you do. You can take part in conversations and listen. If you want, you can start a private chatroom and invite your friends or close associates to it. You can join clubs - places where people of similar interests meet and discuss. Real estate agents are using this app to establish connections with potential clients. They believe this platform to be powerful for networking opportunities and also learn from industry experts. As a real estate agent, joining this trendy app can open up lots of opportunities for you. You may never know who your next big client would be. Want to learn from industry experts and maximize your selling opportunities? Chat up with Eric Lawrence Frazier, a real estate professional and mortgage advisor. He will walk you through with all you need to know about the housing market in the United States. ABOUT ERIC L. FRAZIER Eric L. Frazier MBA is a licensed Mortage Advisor NMLS 461807 with First Bank. He is the founder and CEO of The Power Is Now Media, a multimedia company that helps investors create wealth through real estate. Eric L. Frazier is vastly experienced and has been in the real estate industry for decades. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com. Published by Eric Lawrence Frazier, MBA. References https://www.washingtonpost.com/technology/2021/02/10/what-is-clubhousefaq/?outputType=amp https://outfront.kw.com/training/a-real-estate-agents-guide-to-clubhouse-socialnetworking/
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
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Some Words on Dave Chappelle recent Netflix comedy special, the Closer. Trans employees and their allies at Netflix walked out of their jobs in protest and issued a list of demands for their return, which included acknowledgment of Netflix’s responsibility in the harm that was created for streaming transphobic content… strong words. Chappelle says that the controversy has impacted his career like nothing else before it, and interest in his unreleased documentary film has completely dried up from all of the major studios.
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have been a fan of Dave Chappelle for years. His standup comedy is among the smartest and most provocative in a generation. Last year, I blogged about the brilliance of 8:46, the show he created during the pandemic about the George Floyd murder. One of the memorable parts of that routine was when he told the story of Christopher Dorner, the former member of the LAPD who went on a killing spree of law enforcement officers after he was fired from his job, and how over 400 police officers responded in solidarity to the call when Dorner was cornered and ultimately killed in a Big Bear Lake cabin. Chappelle was 26 l
making a point on how people tend to react when one of their own is attacked and why nobody should have been surprised when thousands of Black people took to the streets over Floyd. Throughout his career, Chappelle has been one of the clearest voices on race and social justice. I love that about him, but more than anything, I’m a fan because the guy is one of the funniest people in the world. Unless you have been living under a rock for the past month, you probably know that Dave Chappelle has been under fire for his comments about the trans community in his most
When an icon of social justice is called a bigot, it’s a big deal, and regardless of where I stand on this particular issue, I can’t deny it bothers me because I feel like it plays into the hands of actual racists and the formidable adversaries to equity and inclusion in America. I know those losers are enjoying this and I can actually hear them laughing in my head. That said, I’m not going to avoid directly addressing the Chappelle controversy, and providing an honest opinion on the subject. One of Chappelle’s most compelling statements in the show is when he says his problems aren’t with trans people, they are, and always have been with the “Whites” … as he calls them. He explains how he believes that White women screwed up the #MeToo movement, and suggests they are at the root of his quarrel with the trans community. He supports his opinion by asking
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
why it was easier for Caitlyn Jenner to change her gender than it was for Muhammad Ali to change his name; or how the rapper DaBaby could kill another Black person in plain view at a Walmart in North Carolina and not have his career impacted in the slightest but faces career death for making disparaging remarks about gay people. It begs an interesting question, which is: would the recent progress of the LGBTQ movement be as swift if their community consisted of only Black and Brown people? Of course not, but I think in fairness, the question is more complicated than that. When it comes to the White factor, I am 50/50 on Chappelle’s thesis. I do think White members of the LGBTQ community have certain privileges that are not afforded to Black or Brown people, regardless of their race, gender, or sexual orientation. However, I don’t think as a whole their path to inclusion has been substantially easier than other minority groups. Many Christians still believe gay people are an abomination to God and destined to spend eternity in hell. There remains an open and accepted hatred towards gay and trans people that most other people, even those from racial minority groups, have never experienced in their lifetimes. The Closer wraps up with Chappelle telling an emotional story about Daphne Dorman, a transgender woman who was an aspiring comedian that befriended Chappelle a few years ago. According to Chappelle, Dorman did not find his comedy offensive and suggested that the criticism she received on Twitter for defending him may have played a role in her suicide in 2019. Chappelle’s talent as a storyteller is unrivaled, and you’d have to be a robot not to have tears in your eyes as he masterfully unfolded the Dorman story, but my first thoughts were different than I would have expected. I immediately thought about a person I know who occasionally posts borderline racist memes on Facebook that always piss me off. What’s worse is he defends them by saying his Black friends are not offended by them. However, I later realized that Chappelle’s point wasn’t really suggesting that if Dorman wasn’t offended by his comedy nobody else should be, rather he was trying to say his friend was as much a member of his tribe (comics) as she was of the trans community; a perspective that has the apparent support of Dorman’s family. Dave Chappelle is not gay or trans, so in the end I asked myself, how would I feel if an Asian or Black WWW.THEPOWERISNOW.COM
comedian made fun of Latinos in a manner that I believed reinforced negative stereotypes. As much as I love Chappelle, I had to admit I probably wouldn’t like it. So as Chappelle himself explained in the Christopher Dormer story, we shouldn’t be surprised when the LGBTQ community rallied together when they felt attacked. People who know Dave Chapelle say he spends months writing and workshopping his shows. The Closer was no slip of the tongue, but I think you have to try hard to get yourself to believe Dave Chappelle is a bigot. I certainly don’t believe he is. So, what was he trying to say? I think Dave Chappelle has always been willing to test boundaries and play with taboos. Ten years ago, jokes about trans people simply didn’t pose the risk that they do today, but when that changed, he resented how White people used it to turn the tables on him. At one point, he asks whether a gay person can also be racist. That question felt a bit forced. Yes, I am sure there are some gay people who are also racist, but I’m not sure what that proves. In the final analysis, The Closer forces us to look in the mirror and recognize that there are good and bad people everywhere, and none of us should be judged or given a pass only because of race, gender, or sexual orientation. Chappelle closed the show by saying he is done joking about the LGBTQ community until he is sure we are all laughing together. Probably a good idea, if for no other reason than the real bigots in the world can shut up and stop pretending they are on Dave Chappelle’s side. If you’ve followed Dave Chappelle as long as I have, I’m sure at some point he crossed a line in your mind that offends you…If you don’t like it, you can fall asleep to Jerry Seinfeld instead. Has Dave Chappelle ever offended me? Yes…Am I still a fan? Absolutely.
AUTHOR: Gary Acosta Co-Founder & CEO of the National Association of Hispanic Real Estate Professionals (NAHREP®) l
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SELECT A VIP AGEN Adrian Bates Los Angeles
Adriana Montes Florida
Candace Thrower San Diego
Cornelius Jackson Irvine
Danon Burnside San Bernardino
Denise Matthis San Diego
Jenny Gonzalez Corona
Julius Cartwright Ohio
Joe L. Fisher Richmond
Kamesha Keesee Corona
Briana Frazier Los Angeles
Emerick A. Peace Maryland
Johnnie Morine Texas
JT Burnside Las Vegas
Karen Lewis South Florida
Kate Nash Long Beach
NT IN YOUR AREA Marisa & Demarco Fletcher
Inland Empire
Monica Hill Menifee
Norman Green San Francisco
Peggie Simmons Arizona
Robert Langston Fairfield
Ruby Frazier Riverside
Sharon Bartlett Texas
Steve Peterson Oakland
Success Money LA Area
Yvonne McFadden Arizona
By Steve Peterson
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igitalization is an inevitable change in any business. Commercial real estate has for long been lagging behind but the impact of the COVID-19 has forced Commercial real estate professionals to adapt to the digital transformation. This has enabled property owners adapt to the new real estate environment and embrace technology elements for optimization of daily operations. Customer service is the core determiner for any commercial real estate company and it therefore should remain a priority.
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IT BUILDS TRUST AND LOYALTY Actions speak louder than words. It is more of what you make customers feel than what you say to them that matters. Earning customer’s trust is the most essential gain in commercial real estate. An investor needs to build a strong relationship with their customers, in that, customers get to the company well, know and like their services and believe that their property ownership issues are catered for. As put across by Brent Leary, the co-founder of CRM solutions, “If you don’t have any kind of relationship with a customer, they’re simply not going to be a customer”. Customer trust brings the company the pros of increased investor opportunities, referrals and recommendations for services. IT BUILDS A POSITIVE REPUTATION Generally, the way customers are interacted with and communicated to influences the perception people have for the company. If the customers are treated right customers sends praises for your services and on the contrary customers may give negative news to others if not served well. Commercial investors should therefore ensure that their customer service team, serve l
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Commercial Real Estate in The Digital Age. Is Customer Service as Important?
Why customer service matters
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right the customers so as to generate a slid hood reputation. GIVES A COMPANY OUTSTANDING ADVANTAGE AGAINST COMPETITORS Commercial real estate is a competitive world. The only differentiating factor customers are looking for is the level of customer service offered. Do you want to be the favorite amongst all the other commercial realtors? It’s simple! Offer your customers quality customer service and become the benchmarking commercial realtor. Any commercial real estate customer is in search of Commercial Property investors should have a
ABOUT STEVE PETERSON Steve Peterson CCIM, is the Broker/Owner of Infinity Investments which is a commercial real estate brokerage and investment firm based in Oakland, California. His focus and expertise is in apartment buildings, but he has experience in office and retail property as well, working as both a broker and principal. Steve has been in the commercial real estate business for 15 years both as an investor and a broker/agent. Steve has earned the CCIM (Certified Commercial Investment Member) designation which is the highest designation in the commercial real estate field, and served as the President of the NorCal CCIM Chapter in 2018. Steve also became President of the Associated Real Property Brokers (ARPB) from 2015 to 2016, the Oakland REALTIST Chapter of NAREB (National Association of Real Estate Brokers) the oldest Minority Trade Association of any kind in the United States. Finally, he was also the President of the California Association of Real Estate Brokers (CAREB) in 2017 & 2018.
customer service mission statement that will serve as foundation of good customer service programs. Additionally, the investors should make sure that their customer service team well equipped with professionalism and skills to deal and cater for every customer’s need in the best way possible. By applying some of the tips on how to improve customer service an investor is assured of achieving the objective of serving the clients right and keep them coming back. Get in touch with The Power Is Now Media Inc. VIP agent in Oakland, Steve Peterson for the best commercial real estate advice.
ABOUT THE POWER IS NOW MEDIA INC. The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage in a various thought of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help you make your home ownership dream a reality. Go to www.neverrentagain.com and get started today. Eric Lawrence Frazier MBA DRE, Vice President and Mortgage Advisor of First Bank, NMLS 461807. President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com
References https://www.fortunebuilders.com/the-importance-of-customer-service-in-real-estate/ https://www.fortunebuilders.com/5-reasons-why-real-estate-customer-service-matters-for-investors/ https://commercial-realestate-training.com/ways-to-really-improve-customer-service-and-results-in-a-commercial-real-estate-team/
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THE POWER IS NOW MAGAZINE | NOVEMBER 2021
By Norman Green
How to value your home accurately in San Francisco
I have seen a common question on social media threads, and I thought, why not answer it. And for those of you concerned, your question is legitimate. I often see people just valuing their homes based on estimates provided by some website. Well, there is nothing wrong with that, and in some cases, it might work, but what if you may be overpricing your home? Which may cause your home to stay on the market longer than usual?
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Or what if you are underpricing your home? Using online calculators is good, but there are limitations. And even before your value your home, it is important always to understand that a home’s value or worth is whatever someone is willing to pay for it. THAT’S IS IMPORTANT, HOW MUCH WOULD YOU BE WILLING TO BUY THE HOME YOU ARE SELLING? You need to have this conversation with yourself before even looking to see what others are saying or selling their homes. The long version of that answer would depend on many factors, including the market conditions, the average selling price of other homes in the neighborhood, and such factors. Also, it may depend on what other people or entities have to say about the value of that particular home, for instance, your lender, your agent, or the tax assessor. ANALYZE YOUR MARKET This is the first step you have to take to value your home in San Francisco accurately.
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ssuming that you bought your home in San Francisco some ten years ago, how much would it be valued today?
Most people want to get a feel of what the market looks like before they can put a price tag on their home. No one wants to go along with their good intuition. Knowing the market is the smart thing to do. We know that San Francisco is an expensive market, and the median sales prices of homes in this market shot up for 83 consecutive months from April 2012 until March 2019.
That is one fact you have to keep in mind. Therefore, assuming that you bought your current home in 2011, it means you are likely to bag a reasonable profit for the sale of that home. Secondly, looking at other metrics, the average median home value in San Francisco rose 90% between 2009 and 2019, from $715000 to $1.36 million, but that’s just for the Metro. Looking deeper into the data, you’ll find that areas such as Oakland shot up 77% in the same period while in some other neighborhoods, home’s value shot up more than 100%, including Bayview (116%), Forest Knoll (112%) Bernal Heights (111%), Mission (109%) and so many others. I am trying to make sure that the location will also influence the home’s value by a great margin. Have you ever heard of the old saying that real estate is the location? Well, it is a fact that has been stood the test of time. BUT WHAT IS CAUSING SAN FRANCISCO TO BE SO EXPENSIVE? Mainly, the past decade has experienced an influx in tech industries. The tech boom in San Francisco was largely due to the tax incentives that aimed to attract companies to silicon valley. In return, the city had a high price to pay- the cost of living. It attracted a large force of skilled workers while neglecting its nonskilled workers, and the result is quite evident - Skid Row.
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The cheapest neighborhoods in San Francisco were suddenly “flooded with a tremendous amount of new money, and prices have gone up exponentially” as people were craving affordability and convenience. Anyway, where am I getting with this? First, you must understand the local economy influences so much the valuation of your home. Were there cheap homes in San Francisco? Yes, a lot of them, but because of the local economy boom, everything became so expensive. So is your home; depending on where your home is located and the status of the local economy, you might be forced to value your home relatively higher than you would in other places. These are the two main points I wanted to drive home before showing you how to value your home in San Francisco accurately.
How do you value your home accurately? COMPARATIVE MARKET ANALYSIS (CMA) This might sound complicated, but all I mentioned above was part of the market analysis that you should first do before giving your home a price tag. When you are ready to value your home, give me THE POWER IS NOW MAGAZINE | NOVEMBER 2021
a call today! Real estate agents are your best resource if you want to understand better how the market looks like and what value to place on your home. Even though the CMAs may not be as detailed as a professional appraiser would be in most cases, they provide you with an evaluation of the home and market, which will ultimately help you determine an estimate of value for your home. THE FHFA HOUSE PRICE INDEX CALCULATOR This is another valuable resource at your disposal. The FHFA house price index (HPI) calculator applies a scientific approach to help you determine the value of your home. Basically, the FHFA is an aggregator of transactions gathered since the 1970s, and therefore what its HPI Calculator does is that it determines the value of your home using the repeat sales method. This method tracks the change in value from one sale to the next and then uses that information to estimate how the values fluctuate in a given market. HIRE AN APPRAISER As a homeowner or a property owner, you can hire an appraiser to estimate the home’s value at any time. This, I think, is the most popular method because about 28% of U.S homeowners determine their home’s value using an appraiser.
“As an appraiser, my job is to give a value based on the needs of my clients,” says Ryan Lundquist, owner of an appraisal company based in Carmichael, California. “Sometimes clients want the value for a date in the past, and other times it’s a current market value for a refinance or purchase.” One of the things that the appraisers will look at is the overall market condition. They will look at the region, the city, and the neighborhood where the home is located. In addition, they have to assess the house’s condition, including WWW.THEPOWERISNOW.COM
improvements and the land it sits on. Lastly, appraisers will look at comparable properties. They then combine this information to create a final opinion of what the home could be valued at. Do you need an agent to value your home? If so, it may be a good time to talk to Norman Greene, one of our VIP agents in San Francisco, or you can speak directly to Eric Lawrence Frazier MBA, a mortgage professional with over 30 years of experience. You can reach Eric at 800-261-1634 ext. 703. ABOUT NORMAN GREEN DRE#01337466 | San Francisco Norman Green worked as an entertainment promotor for twenty years, where he learned and honed the art of promotion. During this time, he promoted local events as well as a regional concert. He is one of the few African American brokerage owners in San Francisco. He has been a proud owner of Re/Max Prestigious Properties located in the beautiful west Portal area. Over the years, Norman has gained extensive knowledge in the real estate business. Norman has assisted in all aspects of real estate, including building from spect, purchasing, remodeling, flipping, and other investment-type activities. To read more and to connect with Norman, go to; https://www. thepowerisnow.com/norman-green/ ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com.
Sources https://www.nerdwallet.com/article/mortgages/how-to-determine-homevalue https://www.cnbc.com/2019/07/01/how-much-a-san-francisco-housebought-10-years-ago-could-be-worth-now.html l
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By Johnnie Morine
Here’s How to Prepare Yourself for Homeownership While Renting
only makes them poor and more exposed to the risk of being evicted for no reason at all.
43.3 million people/households in the United States are renters!
Let’s get started.
According to data from Apartment List, this number has risen from 34.6 million just before the Great Recession, and therefore, this means that the total market share of the US renting market is about 36.6%. And it makes sense why renting is a popular option for many people. But, what most people don’t realize is that renting WWW.THEPOWERISNOW.COM
WHY MOST PEOPLE PREFER RENTING I’ve decided to start this article at a more familiar place why YOU preferred renting over buying your own home. Renting is easy. I get this a lot every time I sit down with my clients, asking them why it took them so long to become homeowners, and every time, I get the same answer, renting is more manageable. Buying a home is a big decision that clogs both your financial and emotional status. And more often than not, many people are afraid of going through that roller-coaster. l
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Can you believe that?
After all, they do not own the property, and their ‘survival’ is at the mercy of their landlord! Therefore it is time to take ownership of your life? But how do you do that? I will show you a few tips to prepare yourself for homeownership while still renting.
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What I have realized, too, is that many people do not understand homeownership. What it actually is and why they need it. Naturally, people fear what they don’t understand, hence the general preference of renting. The truth is, homeownership is easier and more beneficial. When you start paying your mortgage payments at the end of every month, you are actually building equity that money is growing, whereas with renting, the money you give your landlord only makes him richer. So, get out of that comfort zone, and let’s put you on a journey towards homeownership. PREPARING TO BECOME A HOMEOWNER The truth is, the home buying process begins before even talking to your realtor or even applying for the pre-approval for a mortgage. I’ve realized that for most renters, home buying begins in like a year before they actually buy a home. It is a desire, and this is where you begin. You have to want to become a homeowner before you can actually 40 l
own a home. The more you can do to prepare beforehand, the easier it will be for you. If you are reading this, that means you are ready to become a homeowner, but then you have to deal with the renter’s dilemma; Can you save enough money to achieve that goal and still live a better quality of life by owning a home? The best way to answer that is by first looking at all the factors that affect/influence the home buying process. Additionally, you must gather and learn as much as you can about home buying. This will help you make an informed decision about homeownership and financial responsibility. One of the factors you have to consider carefully is how much of a home you can afford. To find out what you can afford, start by first figuring out how much money you can pay per month. Many financial advisors will tell you that this amount will range anywhere between 2 and 4 times your annual salary. THE POWER IS NOW MAGAZINE | NOVEMBER 2021
The reason for this is that we are trying to avoid circumstances that might lead you to overinvest in your first home. Of course, you can always buy more later. What you can’t undo is a mortgage loan once taken. By figuring out your monthly expenditure regarding how much money will be going towards homeownership, the goal is to avoid instances where you are overextending yourself, subjecting yourself to poor living, you’d be better off renting. Consider the Amount of Down payment The amount of down payment affects and dictates the interest rates you will pay. In most cases, though I feel this is an outdated concept, you are supposed to save up to 20% down payment. This is good, but lenders nowadays are willing to pay a lower amount if you cannot afford the 20% down. But if you can afford it, this will keep your interest rate down and help you save more money in the long run. In addition, it will also keep the monthly payments smaller. Thus, while preparing yourself to become a homeowner, you must consider this fact and plan how to save for the down payment effectively. CAN YOU QUALIFY FOR A MORTGAGE? You may have everything right, and I am assuming that you will not be buying cash. Even so, can you qualify for a mortgage? Lenders require borrowers to have a 28/36 debt to income ratio, which means you have to have 28% or less of your total monthly income going towards the housing costs and 36% or even less going towards monthly debt that you may have and this includes the mortgage payments. For this reason, I would suggest you try to pay off as much debt as possible before applying for the mortgage. The debt to income ratio is a ratio that most lenders use to determine what you can afford, but it doesn’t account for the expenses and other costs. IT’S NOT THAT HARD! START YOUR JOURNEY TODAY First, you have to have that desire to become a homeowner. After that, start by calculating how much you can afford based on your budget, WWW.THEPOWERISNOW.COM
income, savings, and monthly expenses. After that, determine the amount of down payment you want to save. Many lenders will ask for anything between 3.5%-20% of the home’s price, but when you work with Eric Lawrence Frazier, MBA, the Founder, and CEO of The Power Is Now Media, you can even get a 0% down payment. Lastly, make sure that you have a solid DTI ratio before applying for the home loan. You can reach Eric at 800-261-1634 ext. 703 If you are in Texas, it’s your lucky day because Johnnie Morine will help you kick start your homeownership journey. ABOUT JOHNNIE MORINE DRE#0627302 | Texas Over the course of almost 30 years of running successful business and strategic partnerships, Johnnie’s simple philosophy and approach to life have taught him the value of commitment, motivation, collaboration, and an entrepreneurial spirit. Starting small as a sales agent and an entrepreneur back in 1984, the idea to venture into the real estate industry had always been with him but had not yet materialized. Today, Johnnie runs a prolific real brokerage firm where Seasoned REALTORS realize the bottom-line and how it affects their lives. To read more about Johnnie, go to; https://www.thepowerisnow.com/johnniemorine/ ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com
Sources https://www.moneymanagement.org/budget-guides/prepare-for-homeownership https://www.forbes.com/sites/forbesrealestatecouncil/2017/09/06/ thinking-of-buying-a-home-heres-how-to-prepare-for-homeownership/?sh=340a038a1629 https://credit.org/blog/homeownership-preparation-tips-2/ https://realtybiznews.com/renters-prepare-homeowners/98756778/ l
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By Sharon Bartlett
Which mortgage is right for you? Part II Let’s get started!
SO WHAT ARE MORTGAGE TERMS? Many people are now looking to refinance their homes to qualify for better rates, especially after the COVID-19 pandemic.
However, that shouldn’t be enough to help you determine which one suits you best. There are a variety of other factors that you need to look at, including;
To refinance, or even if it is your first time getting a loan, one of the decisions you’ll have to make is choosing between the 15 year mortgage term and the 30 year mortgage term.
1. The interest rates are given and how comfortable you are with them. 2. How much interest you are comfortable paying without overstretching your limit. 3. How much home you can afford. 4. How fast you’d like to be mortgage-free. 5. The 30-year term is the preferred option for many people, but as you shall find out later, the 15-year mortgage term offers some benefits, but this will depend on your financial goals.
WHICH ONE IS RIGHT FOR YOU? If you are getting a mortgage loan, know which gives you the best features in terms of the APR and interest rates.
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15-YEAR MORTGAGE TERM VS. THE 30-YEAR MORTGAGE TERM The obvious difference between the two is the repayment period.
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n our last article, I introduced mortgages, and I also discussed which mortgage is right for you. If you haven’t had a chance to read my previous article, check out our last month’s publication of The Power Is Now Media National Magazine here. This month we focus on mortgage terms.
Additionally, it is best to do a bit of homework and establish the groundwork for yourself before settling on one. The best way I recommend you do that is to shop multiple lenders.
15-year mortgage term is better than the 30-year one. The reason being there are so many factors unique to you that will affect the terms of the loan you take.
This way, you’ll get a feel of what mortgage term offers the best options and is more advantageous and uniquely positioned to help you, depending on your financial position.
For example, if you want to pay your loan faster and save more while on it, the 15-year mortgage term should be the best option for you. But what if you do not have enough, or let’s say you want to achieve the homeownership goal while also saving for retirement? Then the 30-year mortgage term should do the trick.
THE 30-YEAR MORTGAGE TERM There are reasons why the 30-year mortgage term is the most preferred option for many lenders and borrowers. These include; •
• •
• • •
The 30 years fixed mortgage term is less expensive. This is so because the loan amount is spread for 30 years, resulting in a lesser amount each month. There are lower qualifications criteria (earnings and debt-to-income ratio). It comes with a lot of flexibility and convenience for the borrower in that they can choose to pay back the loan faster. The drawbacks of the 30 years fixed mortgage term are; You could end up paying more in interest over the life of the loan. You’ll find out that the rates for the 30 years fixed mortgage rate are often higher.
THE 15-YEAR MORTGAGE TERM Some of the pros of taking a 15-year mortgage term include; • • • • •
•
You will be paying very low interest. You can be able to save more over the life of the loan. You can build equity in your home way faster. Cons Because you will be paying a higher amount, you won’t have as much money to spend on other needs. Your monthly payments to service the loan will be more significant.
SO WHICH IS BETTER? Honesty, I cannot tell you definitively that the 44 l
But one thing that’s for sure is that interest rates are low, which means that now would be the best time to buy a home. Talk to our mortgage advisor Eric Lawrence Frazier the Founder and CEO of the Power Is Now Media, at 800-261-1634 ext. 703. ABOUT SHARON BARTLETT LIC#0684103 | Texas Sharon Bartlett is a real estate and mortgage industry expert with almost 40 years of experience. After spending 35 years at Freddie Mac, Sharon set out on a path to create her dream job. She started with her consulting firm, Sharon Bartlett Consulting, LLC, which led to obtaining her real estate sales license and then creating a real estate training company, the Real Estate Academy for Learning (REAL). Sharon recently became the National Director of Operations for US REO Partners, a nationwide real estate trade organization that connects and trains REO professionals. To read more about Sharon, go to; https://www.thepowerisnow.com/sharon-bartlett/ ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderateincome and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com THE POWER IS NOW MAGAZINE | NOVEMBER 2021
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THE POWER IS NOW
MAGAZINE
EAST COAST EDITION
By Emerick Peace
Do you know how to spot a rental assistance scam in Maryland?
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he pandemic has brought about a wave of uncertainty in so many industries and real estate is no exception.
Unfortunately, scammers thrive in this uncertainty. We know that the government has done its best to roll out the rental assistance across communities across the country, but scammers on the other hand are using this opportunity to prey on consumers in need, pretending to be someone they are not. While there are so many cases of rental scammers in so many parts of the country, I haven’t seen any in Maryland so far, but it doesn’t hurt to be prepared.
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Recently CFPB warned that scammers are using text messages to scam renters and prey people in need. In some cases, scammers are trying to obtain the prey’s personal information or steal their money or both. “The look and feel of this scam are very convincing,” said Bev Yang, who works for the Consumer Financial Protection Bureau (CFPB). WWW.THEPOWERISNOW.COM
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SO HOW CAN YOU TELL THAT YOU ARE DEALING WITH A SCAMMER? A federal agency will never ask for personal information. A federal agency might ask for your information on an application and depending on the program you apply to, they might even follow up to help you complete the application. However, a federal agency will never ask you for your personal information to process your rental assistance application. That should be the first red flag. If you receive an email or a text or a call or a social media message asking you to provide your personal information, chances are they are scammers. A FEDERAL AGENCY WILL NEVER ASK YOU TO PAY FOR QUICK ASSISTANCE Local programs and agencies are never allowed to charge a fee to process your application for the emergency rental assistance program. If you are asked for cash, gift cards, wire transfers, cryptocurrencies, or any form of payment, that is a scam. MEET EMERICK A PEACE Emerick Peace is the Operating Partner and owner of Keller Williams Preferred Properties (KWPP). KWPP is a multi-billion dollar residential, luxury, and commercial real estate sales brokerage with more than 570 associates located in Upper Marlboro, Maryland (Prince George’s County). Keller Williams Preferred Properties is the undisputed #1 real estate brokerage (market share, transaction, and sales volume) in Prince George’s County, Maryland, and one of the largest single office brokerages on the eastern coast. KWPP is ranked #443 of 84,000 residential brokerages in the United States, according to the 2018 Swanapoel Real Trends Report and #35 in Keller Williams worldwide. Its operational footprint runs throughout the Baltimore and Washington DC Metropolitan Area, operating primarily in Washington DC, Prince George’s Maryland. To read More about Emerick, go to; https://www.thepowerisnow.com/emerick-apeace/ ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-4018994 Website: www.thepowerisnow.com.
Sources https://www.consumerfinance.gov/about-us/blog/do-you-know-how-to-spot-a-rental-assistance-scam/ https://www.consumer.ftc.gov/articles/0079-rental-listing-scams
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THE POWER IS NOW MAGAZINE | NOVEMBER 2021
By Adriana Montes
What do you do when you have multiple offers (and are all good?)
It even gets worse when the inventory is low and multiple buyers all want the same property, and frankly, now isn’t the best time to be house hunting because inventory has been low for the last two years. So, as a result, the market has been characterized by crazy bidding wars. That is not to say that multiple offers are an exclusive feature of a seller’s market; they can occur in any market. Therefore as a seller, what do you do when you have multiple offers? Let’s find out.
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IN A SELLER’S MARKET In a seller’s market, the sellers have the upper hand, and what I have come to realize is that buyers are often beating up, wondering whether the property is worth fighting for. In such a market, I have seen sellers getting up to 30 offers. I’ve even seen buyers offering $5K over, then $10K over, and as if that’s not enough, they add $15K over, and while tempting to the sellers, they end up losing to higher offers. The market is just frantic. It sucks for the buyers and their agents, and it sucks being a buyer right now! HOW DO MULTIPLE OFFER SITUATIONS WORK? When a buyer is interested in a home, they submit an offer. If a house is attractive, many buyers will submit their offers, too, which results in multiple bids. l
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ven under the best circumstances, house hunting has never been a pleasant experience. Buyers contact sellers with so much excitement, only for them to be turned down. It is a thrilling yet disappointing experience until you get a seller willing to listen and work with you.
What happens next is entirely in the seller’s hand, and they can; • • • • •
Accept the best offer. Wait to receive more offers. They can give the bidders a period to submit their best and highest offers. They can counter an offer. Lastly, they can decline the offer.
This is an exciting situation for the sellers because they are possibly getting the best offers for their homes, but it is a frustrating experience. There is no transparency in the process, and as a buyer, you are left guessing what others have offered and whether your offer is good enough. So, you try to offer more without overstretching your limit. The seller’s agent has no jurisdiction to select an offer unless they have the authorization. The agent will present all the offers to the seller and make recommendations based on what the seller is looking for and their preference. Once an offer is chosen, they either counter the bid or accept it and once selected, the seller’s agent will contact all the losing agent’s offers and inform them their offer wasn’t accepted and allow them to try their luck on other homes. HANDLING MULTIPLE OFFERS The best way to filter through multiple offers include; Set a due date for the highest and best offer Patience! It is the rule of the day. What I advise sellers is to list their properties and wait for offers. It is even frustrating for the buyers when a seller lists their property, and it is under contract only 12 hours later. It is important to give buyers enough time to improve their original offers. Then, if you end up in a multiple offer situation, give your buyers enough time to submit their best offers. At least this way, everyone will feel treated fairly. Ensure scheduling for tours is really easy If the property is popular and in a hot zone, it is highly possible that in the first 72 hours, you 54 l
will get a lot of shows scheduled. Therefore, this means that you have to really ensure that home tours are straightforward, and using services like ShowingTime will really improve the buyer’s experience of the home and make it easy for you. SHOULD YOU DISCLOSE THE NUMBER OF OFFERS? Well, I leave that entirely up to you. In most cases and when I represent the buyer, I usually ask for the number of offers to gauge the market. DOES IT MEAN I GET THE RIGHT ANSWER EVERY TIME? No! Some agents don’t even reply, but some will at least signal the level of competition and the sellers that actually do spark more aggressive offers. But this should be done cautiously because, as a seller, you don’t want to scare away potential buyers or even get a lower offer if there aren’t many offers. SELECTING THE RIGHT OFFER As a buyer, never forget that the offer that gets chosen is entirely up to the seller. As such, what’s important to them? • • •
The highest bid. The bid they are sure of. Ease of transition.
Obviously, the seller will look for an offer that offers a combination of the three. THE POWER IS NOW MAGAZINE | NOVEMBER 2021
while the best and highest offer doesn’t have any contingencies it wouldn’t be worth it. However, realizing the importance of contingencies, most buyers include contingencies in their offers which basically are provisions that must be met to flow seamlessly. In the article, I highlighted some of the most important contingencies, which are; COUNTERING THE OFFER You may have the best and highest offer, but I v=have seen sellers counter that too, which is crazy, but… it’s their decision. Now, that may be a wrong move to make because the buyer and their agent will be thinking; “If you are countering our offer, it means that we are the best and highest offer you have. So why would we want to offer more, maybe? The only thing we can do is change a few details like the closing date. We cannot modify the price!” And they are right. While it is true that the sellers have the upper hand, it may be tacky countering the best and highest offer. LET’S TALK ABOUT CONTINGENCIES In the September issue of the PIN Magazine, I discussed some of the top five contingencies a buyer shouldn’t remove when buying a home. If you haven’t read that article, please check it out here. Contingencies are essential, and WWW.THEPOWERISNOW.COM
• • • • •
Home inspection Contingency Financing Contingency Appraisal Contingency Insurance contingency Title Contingency
For most contracts, the contingencies are a standard, and there is no exception except maybe for the sale of current home contingency, which is a contingency mostly used in a strong buyer’s market. All in all, contingencies can be negotiated upon with the caveat that lenders require the borrowers to have the appraisal and financing contingencies, or they won’t approve the loan. As such, as a seller, it is up to you to decide what you are comfortable with, and it is also important to sit down with the agent to help you make the most appropriate decision. If you want to sell your home in Florida, reach out to me, and let’s get this ball rolling. For buyers, financial literacy is key to helping you navigate this complex seller’s market. I would advise you to have a sit down with your agent or mortgage advisor, who will
advise you on the best approach to take. Alternatively, reach out to Eric Lawrence Frazier MBA, a mortgage professional with over 30 years of experience. You can reach Eric Lawrence Frazier MBA today at 800-261-1634 ext. 703. ABOUT ADRIANA MONTES JD MBA Adriana Montes is a real estate broker/owner and director of REO Listings, Acquisitions, Rentals, Flips at Florida Dreams Realty Group. A dedicated professional with a long tenure in the default sector includes over 20 years of experience servicing and selling over 1500 homes and over $300 million in volume within the last ten years. To find out more about Adriana, go to; https://www.thepowerisnow. com/adriana-montes/. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow. com Sources; https://www.thebalance.com/multiple-offerscompeting-home-offers-1798836 https://hooquest.com/multiple-offers/ https://www.houselogic.com/sell/how-to-sell-step-bystep/what-happens-when-there-are-multiple-offerson-a-house/ https://www.homesandgardens.com/news/multipleoffers-on-a-house
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THE POWER IS NOW
MAGAZINE
WEST COAST EDITION
By Yvonne McFadden
uying a home is a huge investment—one that is rewarding in every aspect. But as significant as it is, it can be overwhelming for first-time homebuyers and even seasoned buyers. Navigating the housing market may be a problem, and it is easy to get carried away with the prospect of buying a home that you overlook significant red flags. More so now when housing inventory is at an all-time low and homes are receiving multiple offers. With the current Arizona Housing market, firsttime homebuyers may feel pressed and in a rush to buy a home. Therefore, it is likely they may focus on superficial-branded appliances. However, beautiful staging and a deep-cleaned home may sway a homebuyer into buying a riddled home with problems.
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As a Veteran or an active Military homebuyer looking to enter the housing market, here is a list of red flags you need to look out for. 1. A FRESHLY PAINTED HOUSE I know what you are thinking –what’s wrong with that? Understandably, the idea of having a freshly painted home is necessarily not a bad thing. The new paint job may mean the seller wanted to elevate the home’s appearance before putting it on the market to attract more buyers. But it could also mean that the seller is trying to cover up something—a dealbreaker. For example, the newly painted accent wall could be covering up a patch of mold or water damage. So beware of any cosmetic enhancement!
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5 red flags Veterans and Military homebuyers in Arizona should watch out for when buying a home
2. LOOK OUT FOR ANY FOUNDATIONAL ISSUES Seeing that the entire house lies on the foundation, it is crucial to ensure that the foundation of the house you intend to buy is in tip-top shape. This step is essential— making repairs on the foundation is expensive. Any cracking on the foundation is a number one, a number red flag, experts advise. Small cracks may be easy to live with; they often indicate cement settling; however, larger cracks should be your cue to walk away from the house. 3. QUESTIONABLE WORKMANSHIP OR REPAIRS A seller may decide to DIY projects around the home. These may be fun for the seller, but they rarely possess the skillset to ideally execute the projects they have in mind. And as a buyer, you may walk into a home that needs insurmountable repairs. So before buying a home,
have the plumbing, carpentry, flooring, and electrical work inspected—areas where most DIYs are done. Have someone check it out if you hear that rumbling in the piping; it might save you thousands in repairs. 4. DEFERRED PROPERTY MAINTENANCE Something as simple as a burnt-out bulb, long grass, leaky faucets, and faded paint may be signs of deferred property maintenance. These issues may seem trivial but are likely to cause more problems down the road. Such issues are often only the tip of the iceberg; home inspections reveal much more severe problems. 5. A SELLER THAT SITS ON YOUR OFFER FOR TOO LONG In the current housing market, a seller may take a while before getting back to you on your offer as they might be sorting through the multiple offers they are receiving. But if you are offering a reasonable offer—
ABOUT YVONNE MCFADDEN SA035043000 | Arizona I am a veteran in the real estate industry. My business has been extensive for over 30 plus years. My clients range from all walks of life. I recently added 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. You can reach her at https://www. thepowerisnow.com/. Additionally, reach out to Eric Lawrence Frazier, MBA, the founder, and CEO of The Power Is Now Media, and a mortgage professional with over 30 years of experience at 800-261-1634 ext. 703, 60 l
above the list price, they should get back to you within 24 hours. If the seller goes unresponsive for days, even after your real estate agent reaches out, it is better to walk away from the house than deal with an uncommunicative seller. When buying a home, look beyond the staging, the branded appliances, and the freshly painted walls. Scratch beyond the superficial to see whether the house is as it appears. The experience of buying a home shouldn’t be the same as walking through an exhibition—your money is on the line. It is also important to remember that just because of the hot housing market doesn’t mean a seller should walk all over you. As a veteran, look through the financial options that are provided for you. VA loans have looser requirements than regular FHA loans. On top of that, programs such as the USDA down payment assistance give grants and down payment assistance.
ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph.: 800-401-8994 Website: www.thepowerisnow.com Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media Works Cited: https://www.veteransoffgrid.org/blog/7-home-buying-tips-every-veteran-needsto-know https://blog.swbc.com/personalhub/avoid-these-red-flags-during-thehomebuying-process https://www.militaryhomesearch.com/blog/seller-red-flags.html
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
“ WE DIDN’T EXPECT
HOUSING DISCRIMINATION
WOULD KEEP US FROM OUR NEW HOME.” “ As our family continued to grow, we started looking for a new home. The landlord told us he wasn’t comfortable renting to people with children because they might go to school or daycare and bring home COVID-19.” COVID-19 inequity is real, and it shouldn’t be made worse because of housing discrimination. If you suspect housing discrimination because of your familial status, file a complaint with HUD or your local fair housing center so we can investigate it.
Go to hud.gov/fairhousing or call 1-800-669-9777 Federal Relay Service 1-800-877-8339 FAIR HOUSING: THE LAW IS ON YOUR SIDE. 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.
By Peggie Simmons
Arizona Housing markets insights for Q4, 2021
But going into the last quarter of 2021, experts have predicted that the housing market is beginning to cool off this fall. So by their prediction, it is safe to assume that the home-buying frenzy could slow down. The prediction made by experts was a blanket projection for the entire nation.
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But does it stand in Arizona? 1. PRICE APPRECIATION Home prices in Arizona have skyrocketed in the last twelve months. According to Zillow, home prices in Phoenix and Scottsdale jumped by 30 percent, 29.5 percent in Mesa, and in Chandler and Tempe by 27 percent—with median home prices ranging from over $700,00 in Scottsdale to $360,000 in Phoenix. Experts say that though the price growth will slow, it will not stop. With more inventory getting into the market, competition in the housing market will slow, meaning the demand will not drive prices up. Price appreciation slowing down is nothing but good news for homebuyers. “We are seeing a little more inventory creep on the market, which means people have to get a little more realistic about their pricing,” said Jan Leighton, president, Arizona Association of Realtors, ABC 15 Arizona. 2. SUPPLY AND DEMAND Housing inventory is expected to come from several sources over this year and next year. First, the supply will come from existing homeowners and home builders. But, unfortunately, little inventory will be coming homeowners foreclosed upon after the expiration of critical federal l
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think the past two years have been very unpredictable. The market has been red hot for the most part, only showing some signs of cooling down this quarter, but how long will this be sustained? I don’t know. Maybe the market is taking a breather before shooting higher…. or perhaps it is correcting itself after months of unprecedented upward trajectory. But, one thing is certain; many markets have been primarily characterized by high demand and low inventory; Factors that have created the perfect storm for price appreciation.
protections, Zillow survey experts advise. 3. MORTGAGE RATES 2020 saw mortgage rates drop to historical lows of a little over 2 percent—a 50-year low. Mortgage rates for the better part of 2021 have remained low, averaging at 3 percent. Experts advise that mortgage rates for the remainder of the year will remain grounded for the remainder of the year. However, mortgage rates are bound to change heading to 2022, but as these rates vary daily and from one service provider to another, it would be a great idea to compare mortgage rates offered by different providers. 4. HOME VALUES In the last quarter, property values in Phoenix, Mesa, Scottsdale metro grew by over 31.9 percent from August 2020 to August 2021. In Phoenix alone, that translated to nearly $400,00, up 3.4 percent monthover-month and 29.8 percent year-over-year. Home values will be increasing for the rest of the year and into 2022. 5. RENTAL MARKET In Metro-phoenix, the housing shortage is forcing tenants in some cases to pay hundreds of dollars in application fees to find a place to rent. These fees are not inclusive of move-in costs such as security deposits. It is no wonder that Arizona has the 21st highest rent in the country out of the 56 states. Rent, as with home prices, is expected to continue to rise through to 2022. The Arizona housing market is stable going into the fourth quarter of the year. Inventory has somewhat gone up, but with more active listings set to increase through 2022 from both existing and new construction, price appreciation is expected to slow. The price growth might slow but will not stop as experts say that price appreciation in Arizona will grow into 2022. Thanks to the supply and demand dynamics in Arizona, home values are also on the rise. But with competition easing up, buyers are breathing a sigh of relief as homes are now reasonably priced. And should you be in the market to either sell or buy your home, head on to www.thepowerisnow.com and get connected to our experienced real estate agents? If in Arizona, contact Peggie Simmons.
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ABOUT PEGGIE SIMMONS Peggie Simmons has 34 years of experience as a real estate agent and Broker in Tampa, 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. Mrs. Simmons’s hard work, charisma, and genuine passion for her business have helped boost her reputation as a qualified realtor. Mrs. Simmon’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. Therefore, if you are looking to buy or sell in the Tampa and Arizona region, Peggie Simmons’s expertise and charisma in the field will be your perfect match. However, if you are looking for a real estate agent in the Riverside area, talk to Eric Lawrence Frazier, MBA, at 800-261-1634 ext. 703. He is not only an excellent real estate agent but a fantastic mortgage broker that can get you preapproved quickly. About the Power Is Now Media The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph.: 800-401-8994 Website: www. thepowerisnow.com. Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media Works Cited: https://www.noradarealestate.com/blog/phoenix-real-estate-market/ https://azbigmedia.com/real-estate/residential-real-estate/5-arizonahousing-market-predictions-for-2021/ https://www.abc15.com/news/let-joe-know/housing-market-cooldown-onthe-horizon-for-arizona http://www.homebuyinginstitute.com/news/phoenix-market-buyerfriendly-in-2022/#:~:text=A%20recent%20forecast%20for%20the%20 Phoenix%2DMesa%2DScottsdale%20metro%20area,past%2012%20 months%20or%20so.
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
By Kamesha Keesee
Here are some of the things that will affect your home resale value
As much as the home buying process is seen as emotional and rightfully so, seeing it is the place that you will make memories in—raising your children or fur-babies. It is wiser to think of it as an investment that you will cash in on at one point in the future. So, if you decide to sell your home for one reason or another, consider factors that will make your home standout—factors that will affect your resale value. Here are factors that will affect your resale value. WWW.THEPOWERISNOW.COM
1. YOUR NEIGHBORHOOD A home’s demand hedges on where it is located-- A house closer to social amenities such as schools, hospitals, traffic, and restaurants is likely to attract more buyers than isolated homes built in the middle of nowhere. And depending on the kind of buyers your property will attract, may it be young adults or families-location is subjective-, proximity to these amenities will boost the resale value of your home. 2. THE SIZE OF THE PROPERTY Size when it comes to home buying does matter. It is the very principle that pricing is based upon—price per square footage. And as much as you like a tiny home, buyers may find it unappealing as they might want additional space, thus affecting your home’s resale value. On the other hand, a large house might be out of your price range and consequently out of many potential buyers when you decide to resell. The best thing to do is to find an in-between, one that is not too big or too small a home when you are buying a home.
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hen buying a home, most buyers focus on the house’s aesthetics, the duration of the time they will live there, and what suits their needs at that time. Rarely do buyers think of their home’s resale value.
3. AGE OF THE PROPERTY An older home may have a rustic appeal to them, but l
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you should remember that older homes are appraised at a lower valuation than newer homes. It doesn’t mean all older homes will be priced lower, and it just means that in most cases, newer homes are appraised higher. Older homes tend to deteriorate with time, the integrity of a home is therefore compromised. But that is not always the case, and previous homeowners might have ensured the house is well maintained and, in that case, well valued. Therefore, before buying a home, have a professional inspection done. It will highlight any structural deficiencies or problems with a house, either new or old-- Problems that will affect your home’s resale value. 4. RENOVATION When we buy a home, we want to make every inch of it feel like our own. Renovations can improve our resale potential, but overpersonalization of a home can affect your home’s resale value. Renovations are subjective, and your taste might not match any potential buyers. Besides, your future homebuyers may decide to tear down all the renovations you put your sweat and money ABOUT KAMESHA DRE#01292916 | Corona 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. 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. Through this, she quickly realized the potential of being a Mortgage Loan Officer. And with consistent clientele in an ever-changing environment, it was recommended that Kamesha get a real estate license. That, 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? She finally began her journey as a real estate salesperson in the year 2000. If you are looking to buy or sell a home or would like to know more information about the process, your home, the market, all things Real Estate, Kamesha is your go-to agent. There are also many valuable tools provided here on your site for Real Estate knowledge. Talk to Kamesha today to 68 l
into. Therefore, it is better to provide them with a blank canvas to work with, and should you wish to renovate, let the renovations be marginal. 5. FLOOR PLAN An open layout significantly raises your resale value. A home with narrow hallways and minimal living space will put off a lot of buyers. Therefore, focus on a house with big open kitchens as most people want to interact with their guests as they cook for them. Another consideration that will affect your resale value is natural lights. Big windows that provide the home with natural light give a home a friendly-homey environment. Like any other market, the housing market can be very competitive, and if buyers are to consider your house, it must stand out. When buying a home, think of it as a business investment. And though you might not be thinking of reselling it, it is worth it in the end to consider the above factors that will most definitely affect your resale value. Involve your real estate agent, have them conduct a comparative analysis of homes in a neighborhood you’re interested in, look beyond the cosmetic appeal, and do not get carried away with renovations. Real estate agents at Power Is Now Media Inc. go over and beyond to make sure you make a suitable investment. Contact us at www.thepowerisnow.com. find out more about home valuation, your home mortgage calculator, and Property Finder pages, to name a few. Get in touch today for premier real estate services. And if you are in the Riverside area, contact Eric Lawrence Frazier, MBA, at 800-261-1634 ext. 703, a seasoned real estate agent that is very knowledgeable about everything mortgage. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph.: 800-401-8994 Website: www. thepowerisnow.com
Works Cited: https://www.opendoor.com/w/blog/factors-that-influence-home-value https://www.99.co/singapore/insider/factors-affecting-resale-value/ https://www.youtube.com/watch?v=ca11w9_Kc6E
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
Do you know
Peppermint Ridge? We provide a community of loving homes and empowering support services for individuals with intellectual and developmental disabilities.
We
support and encourage our residents to live their
lives and fulfill their dreams by fully embracing their indvidual abilities and interests. With 24-hour specialized care and staffing, we provide comfortable, secure homes and recognize that everyone feels a sense of belonging when they have familiar places in which to spend time with family and friends.
There
is a true sense of family at Peppermint Ridge. Of the 94 adults who
live at The Ridge, 38 have lived here for more than 20 years, with 10 of those calling The Ridge home for 40 years or more. Residents have the opportunity to flex their muscles of independence while developing rich lives of their own away from their loved ones. About 30% of our residents have no family, so other Ridgers and our staff have become their family.
Many
caring companies, organizations and individuals in
the community enjoy getting to know The Ridge by helping on small projects, hosting fundraisers, lending a hand at events, volunteering in our office, and assisting residents in activities such as arts and crafts, pool days, horseback riding, music and piano lessons and exercise classes.
825 Magnolia Ave • Corona CA 92879 • 951.273.7320 www.PeppermintRidge.org • Tax ID: 95-2409851
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By Ruby Frazier
The True Cost of Selling a House (What’s Your Net?)
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o, you have decided to sell your home to either upgrade, move, or start your next adventure as a backpacker. For whatever reason, a lot goes into selling a home. Naturally, you are wondering how much it will cost you. and you are right to worry! It is easy to get carried away with what you stand to make from the sale, and you might be caught unawares at closing with all the costs. Remember that from these proceeds, you will have to cover the costs of the transaction. But that doesn’t have to be you. Here are some of the expenses you have to factor into your budget as you plan to sell your home. WWW.THEPOWERISNOW.COM
1. MORTGAGE PAY-OFF. If you financed your home using a mortgage, paying off the mortgage balance for your home should be included in your expenses. Usually, the payoff for your mortgage is made from part of the proceeds you make from the sale of your home. Therefore, the payoff amount is likely to be lower than what you actually owe, and it might be a good idea to add the prorated interest you’ve accrued to the total balance. Additionally, you might have to pay a prepayment penalty for your mortgage if it exists. To be safe, check your loan documents or contact your current lender to see whether your mortgage has such a condition. 2. PRE-SALE HOME-INSPECTION In most cases, the buyer pays for a home inspection to avoid buying a defect-ridden home. While that might be the case, it is always a good idea to budget one as well. It will help you identify problems in the house, allowing you to fix them ahead of the sale. A home inspection runs between $280-$400 and could uncover problems with plumbing, electrical, HVAC, the roof, and even the foundation. By identifying and fixing the issues, the closing process will not be delayed, and your home value may ever so slightly improve. l
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3. POST-INSPECTION REPAIRS. The costs that arise here are from the pre-sale home inspection. You might wait for a buyer to request a seller’s concession to cover the costs after they get their results, or they might ask you to fix the problems before closing. Major repairs average anywhere between $4,000- $18,500. While it might be easier to negotiate with the buyer about the repairs, you will cover the costs either way if the buyer agrees to cover the costs if you go below the list price or when you cover them yourselves. 4. HOME STAGING. How your home appears before you sell could determine how much you get for it. The idea behind staging a home is to make it appealing to buyers that they will have difficulty saying no to it. Staging a home costs between $450- $1,800, which includes hiring a staging company, ordering a cleaning service, renting furniture, installing brighter lighting, updating appliances, and giving your home that fresh coat of paint. Depending on how well a job you do, you will have outstanding offers and faster timelines. 5. REAL ESTATE AGENT’S COMMISSION. The real estate commission is most times the biggest expense a seller incurs. Usually, it is 5 percent to 6 percent of the sale price. If therefore, your home sells for $250,000, you may end up paying $15,000 in commissions. This commission is split between the seller’s real estate agent and the buyer’s real estate agent. Meaning they could each get $7,500. The expense is almost always paid by the seller, according to NAR. 6. CLOSING COSTS. As the name suggests, closing costs refer to expenses and fees for services that help close the sale deal. Realtor.com estimates that sellers pay around 1 to 3 percent of the home’s sale price in closing costs. It mostly includes attorney fees, title insurance, title transfer, and taxes. And in case you want to sweeten the deal for buyers, you can offer to cover the buyer’s closing fees as well—this is called a seller concession. 7. MOVING COSTS. Home sale costs do not end when you clear closing costs. You still have to cover the costs of moving your stuff from home. These costs can range between $600-$1700. Yes, these costs can add up and be overwhelming. 72 l
However, there are a few things you can do to cut some of them up. You, for example, can handle some of the repairs by yourself. Be careful not to overestimate your skill sets though that might cost you in the end. You can also opt to sell your home yourself by listing your home as forsale-by-owner (FSBO). If you take this route, be prepared to take agent roles such as showing the house, drawing the contract, and taking care of the transfer title. Also, homes sold as FSBO sell at a lower rate compared to those with real estate agents. Finally, click on www.thepowerisnow,com, to find experienced and qualified real estate agents who will make selling your home less of a headache. ABOUT RUBY FRAZIER Ruby Frazier is the President and CEO of Frazier Group Realty Inc., a full-service real estate company with a dynamic team. 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 has been in the real estate industry for over 13 years. As a highly versatile, results-oriented real estate sales professional with extensive experience in residential and corporate real estate, including industrial, multifamily, and property management, Ruby believes in delivering high-quality customer service. You can reach Ruby directly on her Phone Number:(951) 2029075 Email: rubyfrazier@fraziergrouprealty.com As you look to buy your next home, get yourself a preapproval from our very own Eric Lawrence Frazier, MBA, at 800-261-1634 ext. 703. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www. thepowerisnow.com.
Works Cited. https://www.bankrate.com/real-estate/how-much-does-it-cost-to-sellhouse/#:~:text=The%20real%20estate%20commission%20is,agent%20and%20 the%20buyer’s%20agent. https://www.ramseysolutions.com/real-estate/how-much-does-it-cost-to-sell-a-house https://www.aarp.org/money/budgeting-saving/info-2021/the-real-costs-of-sellinga-home.html
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
A PROFILE OF
Bringing Powerful Public Policy at Ginnie Mae
ALANNA MCCARGO W
hen I first heard that another African American person had been nominated for a critical leadership role inside the Biden’s Administration, I was like, “Biden… you are a man of your word! Kudos.” Seriously though, I was reading a report of the first 100days of the Biden-Kamala administration. The report highlighted that “the approximately 1,500 agency appointees hired by President Biden so far… 18% identify as Black or African American,” and even though there is no percentage whatsoever of the leadership position held by African Americans, I am quite impressed by how diverse this administration is. Furthermore, during Biden’s acceptance
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THE POWER IS NOW MAGAZINE | NOVEMBER 2021
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speech in Philadelphia, the president acknowledged the huge support his campaign got from the Black voters echoed through, “…especially for those moments when this campaign was at its lowest—the African-American community stood up again for me. They always have my back, and I’ll have yours.” At the time, most people could only speculate that the new administration would be heavily focused on addressing policies that affect the African Americans or Black leadership through appointments to senior-level positions or a combination of both. Well, true to his word, the Biden administration is doing everything possible to make his promises come true. Since his inauguration, we’ve seen the appointment of black people to key leadership and trying to fight key issues affecting the Black people like the pandemic, joblessness, police brutality, and so many others. So far, so good! Recently, the administration announced the appointment of Alanna McCargo to lead the Government National Mortgage Association (Ginnie Mae) at the Department of Housing and Urban Development (HUD). Before the appointment, Alanna worked as a senior advisor housing finance at HUD. WHO IS ALANNA? Alanna’s Journey in policy development spans over 20 years, a career she began in housing finance. While often confused as a researcher, Alanna’s focus
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and drive have been primarily as a business practitioner and a focus on the policy side instead of research. She spent over a decade with Fannie Mae in various leadership roles and serving in the private sector, managing mortgage agency portfolios, and implementing borrower solutions for JP Morgan Chase. When Urban Institute was preparing to launch its new Housing Finance Policy Center about seven years ago, Alanna was working at CoreLogic at the time, a big data company with tons of housing- and property-related data assets. The company partnered with Urban to provide foundational data through a strategic alliance that helped HFPC produce its first research pieces and launch its first annual Housing Finance Symposium. Consequently, through this partnership, Alanna worked with Urban Institute and the HFPC leadership team in its first two years from the outside as a strategic partner and then joined them officially to co-lead the center into its next phase. Alanna was with the Institute until earlier this year when she left to join Furge’s Department as a senior advisor. According to the White House, her career has “centered on how America’s housing finance system can equitably provide credit and capital to households and affordable housing stakeholders,” Some of the notable achievements we can see from her work at Urban
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Institute include developing a body of work focused on reducing racial homeownership gaps, increasing housing affordability, and reducing barriers to accessing credit and capital. APPOINTMENT TO GINNIE MAE In a committee hearing to determine and examine her nomination, she told the committee that while her role in slowing home price appreciation would be limited at Ginnie Mae, she would ensure that the agency would remain a reliable backstop to investors in mortgage-backed securities. That support, in turn, ensures that borrowers in government-backed programs can capture lower interest rates on home loans.
“Far too many people do not get the opportunity to plant seeds of ownership because housing is grossly unaffordable, it’s impossible to save, or they lack resources or don’t have parents who can help them get started,” McCargo said in prepared remarks to lawmakers. “Government mortgage programs help enable homeownership opportunity.” The leadership position at Ginnie Mae has not had a senate confirmed president since 2017. This vacancy outlasted the Trump administration, and her confirmation means the first woman to lead the agency since its creation in 1968. Most senators at the banking committee have expressed their support for Alanna. However, Sen. Pat Toomey, R-Pa., the ranking member of the Senate Banking Committee, has expressed concerns about Alanna’s involvement with implementing the Home Affordable Modification Program during the financial crisis. This is a program created to help distressed homeowners but had a higher expected default rate. “There are businesses that can’t expand because of the lack of workforce housing,” said Sen. Jon Tester, D-Mont. “There are startups that can’t start up because of the lack of workforce housing, and then the houses that are there are really expensive because demand has driven the price way up over the last 18 months.” Responding to this, Alanna agreed that many families are indeed suffering and are “incredibly
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cost-burdened by the cost of their housing,” adding that, “this is an issue that if confirmed, my role in being able to affect the home price appreciation and the things that are happening is limited, but we are going to be there,” she said. “Ginnie Mae is there to support millions of families by providing capital, liquidity and making sure that new rental housing projects that are financed and new homeownership opportunities that require mortgages have the capital that they need.” McCargo, during the committee hearing, alluded to her commitment to working with the current administration to prevent avoidable foreclosures as the forbearance programs come to an end and as the country continues to heal from the pandemic. “I believe that if confirmed, I would continue to work with Ginnie Mae and the teams in the interagency working group to ensure that those families find security and have a healthy recovery from this crisis,” she said. One of the key areas of concern by the Committee was whether McCargo would continue with the agency’s strategic road map called Ginnie Mae 2020, which aims at modernizing its systems and improving its management of counterparty risk. She noted, “the efforts to modernize the securitization platform are crucial,” she said. ”We need to have state-of-the-art technology that runs this business, and the counterparty risk management work that this team has put in place over the last five years, and even very recently in the last two to three years, is critical and has to be second to none.” Alanna Brings Powerful Public Policy at Ginnie Mae Housing is one of the most fundamental needs of every citizen, and not just that; it is one of the major human rights and social justice issues. It doesn’t matter whether the person is a homeowner or a renter. Alanna encourages and brings evidence-informed policy as a powerful tool that can empower policymakers, governmental agencies, regulators, non-profits, philanthropy, and business to make the bold changes needed to meet a broad set of housing demands for the citizens of this country. During her time at Urban Institute, in one interview,
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
Alanna’s Work in Black Homeownership rates One of her key areas of interest is exploring the gap in Black homeownership. Here’s what she had to say concerning this issue;
“I am from the school of thought that owning a home or property matters to the economic prospects for all people. I have seen firsthand the difference it can make in lives and the choices it can open up for people. The tangible benefits of homeownership, in the long run, is that it can create greater wealth and economic mobility for families through generations.” Adding that “This work for me is very personal. My parents purchased their first home in a segregated neighborhood in the Bronx in 1969, a 4-unit home where we lived in one apartment, and the other units were rented for additional income. My father saved money from the rental income our property offered and would soon buy a larger home in the New York state suburbs. I believe that the seeds for my life and my opportunities were planted there, where my parents could move us into a larger home with our own rooms in a diverse community with better schools and create the best opportunities they could for me and
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my siblings to thrive. My mother had the means to start her own consulting business when we moved to the suburbs because they had built up housing equity and had additional rental income streams through homeownership. My parents could help me with the down payment on my first home because of the equity they had built up as homeowners. I could attend college without taking on loads of student debt because my parents were homeowners. Not achieving higher Black homeownership rates has thwarted economic mobility and stifled generations of wealth building. The persistent racial homeownership gap is leaving millions of Black families behind, and without access to a key asset and wealth-building tool that has intergenerational implications for overall financial well-being.” With that, Alanna offers some facts that help summarize the persistent gap in homeownership and offer some valuable insights about who’s being left out in the black homeownership crisis. First, she notes that the 30-percentage gap in homeownership between African Americans and Non-Hispanic whites has actually grown wider today than in 1968. Additionally, Alanna makes a very interesting conclusion adding that supposing the black homeownership rate was the same today as, in the early 2000s, there would be 770,000 more black homeowners. Furthermore, she notes that more works need to be done to recommend that if the black homeownership rate reaches 50 percent, the country needs to add about 1.3 million black homeowner households. Interestingly, the homeownership rate for black college graduates is lower than that for white high school dropouts. “Blacks are experiencing a massive generational retrocession, and if recent trends continue, Black people born between 1965 and 1975 (Gen X) will likely become part of the first generation since those born before 1900 to reach retirement age with more renters than
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she said, “Urban and HFPC work to put evidence and facts into each debate so decisions can be more informed and outcomes closely measured. We care deeply about doing social good. We are hyper-focused on those populations who are not necessarily the first people to think about when big policy decisions are being made. We point out where policy is flawed, put a spotlight on possible unintended consequences of public policy and regulation, and collaborate and debate issues across all parts of the housing ecosystem. Bringing new data and approaches to housing policy is what is most appealing to me, and seeing the influence of evidence-informed policymaking is the ultimate reward.”
homeowners among them.” So what can we do about the Barriers to Homeownership for African Americans? Alanna notes that there are countless barriers to homeownership for African Americans, and to address these barriers, she refers to a 5-point framework to reduce the Black Homeownership gap. This framework highlights some of the critical areas of policy and practice, which, if well implemented, could advance the field and remove barriers to homeownership access for African Americans.
“It covers homeownership challenges, including access to credit and the housing finance system, and also looks at issues with the supply of affordable housing for sale, lack of financing and capital to communities that are historically disinvested in or have lower-value homes, education, and outreach needs – especially for first-generation Black people looking to become owners – and the need for big, bold change and coordination at the local policy level. Our report on barriers to homeownership also highlights critical barriers to becoming a homeowner.”
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The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com. Sources https://www.mgic.com/en/blog/alanna-mccargo-qa-the-power-of-public-policyunderstanding-the-black-homeownership-gap https://www.linkedin.com/in/alannamccargo/ https://www.urban.org/author/alanna-mccargo https://nahbnow.com/2021/09/biden-nominates-alanna-mccargo-aspresident-of-ginnie-mae/ https://jointcenter.org/100-day-report-on-black-appointments-in-bidenadministration/ https://www.brookings.edu/blog/fixgov/2020/12/04/keeping-his-promisesblack-presidential-appointments-in-the-biden-administration/ https://www.banking.senate.gov/imo/media/doc/McCargo%20Testimony%20 10-7-21.pdf https://test2.ginniemae.gov/about_us/who_we_are/Pages/executive_leadership. aspx https://www.usmi.org/celebrating-black-history-month-qa-with-alanna-mccargosenior-advisor-at-hud/ http://www.aspenepic.org/alanna-mccargo/ https://nhc.org/black-leaders-in-housing-making-history-today/ https://nextmortgagenews.com/speaker/alanna-mccargo/ https://www.housingwire.com/articles/biden-nominates-alanna-mccargo-to-beginnie-mae-prez/ https://www.americanbanker.com/news/affordable-housing-advocate-movescloser-to-top-job-at-ginnie-mae
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
By Cornelius Jackson
Tips for buyers: Are you asking your agent all the right questions?
Ideally, a real estate agent is meant to make the home buying process easy. They are intended to handle the nitty-gritty details that involve your home purchase. Research revealed that in 2021, 88 percent of buyers purchased their homes through an agent. As such, a real estate agent, a great one, is critical to make sure your home buying process is a success. How do you then make sure the real estate agent you are working with is right for you? Here’s a couple of questions you can ask them. WWW.THEPOWERISNOW.COM
1. HOW LONG HAVE YOU BEEN IN THE INDUSTRY? An agent’s years in the industry are important, but their overall experience is more important. This is because, with their expertise, they can anticipate problems before they happen. It will be handy for negotiations, and their network of real estate experts in the industry will be useful. 2. HOW MANY HOMES HAVE THEY HELPED BUYERS BUY? According to NAR, real estate agents close on average ten homes per year. Your real estate agent should provide you with their stats. If they are below average, that could be trouble. 3. DO YOU REPRESENT BUYERS OR SELLERS? Most real estate agents specialize in either l
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uying a home is a daunting task. And it will take so much from you, subjecting you to serious emotional traumas-at most minor if you are not prepared! But if you are going to make the process less stressful, you should have the right agent beside you. For a first-time homebuyer, your experience with a real estate agent can be terrific, smooth-sailing but it can also be a complete nightmare.
finding homes for buyers or selling homes for clients. It is great to find one that focuses on the area you are interested in, but it is an added advantage to find one that deals with both as they can offer great insights on both sides. Asking them what the ratio of buyers to sellers is to get a clear picture of where their expertise lies. 4. ARE YOU A PART-TIME OR FULL-TIME AGENT? Working with a part-time agent can be very tricky. They, having other things on their plates may be unable to devote their full time and attention to finding you a great home. 5. HOW MANY BUYER CLIENTS DO YOU HAVE RIGHT NOW? There isn’t a metric to gauge whether they have too little or too many clients. You will have to ask yourself, what figure is okay for you. However, an agent with many clients may not be able to give you the attention you’d like. They might be working with so many people that reaching them will be difficult and you might get frustrated. 6. HOW LONG DO YOU USUALLY WORK WITH BUYERS, FROM THE FIRST HOME YOU SEE TOGETHER TO THE CLOSING? Though it is impossible to find your dream home immediately, your real estate agent determines the length of the home buying process. There is no hard rule on how long it should take to buy a home as there are many factors that affect the length of the whole process will take. 7. HOW WILL YOU KEEP IN TOUCH WITH ME, AND HOW OFTEN CAN I EXPECT UPDATES? Communication between you and your agent can either break or make you. Ask your agent what form of communication they use. If they use email, ask them how often they communicate and whether they can facilitate the printing of some documents. Ask your agent to keep you in the loop in the home buying process—be specific on what you want updates on.
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8. DO YOU WORK ALONE OR ARE YOU PART OF A TEAM? This question determines whether you will be working with the agent directly or there’s a chance you’ll be herded off to their assistants. If they are part of a team, make it clear what details in the process you are comfortable being handled by assistants and what you are not. 9. DO YOU HAVE A REFERENCE I CAN CALL? This question may seem excessive but vetting your real estate agent should be a must. Make sure you are working with a professional with proven work experience. If your real estate agent cannot offer you a list of satisfied clients, that is a major red flag. Another great way to find their work ethic is through online reviews, they tend to paint a clearer picture of whether the agent will be the right fit or not. 10. IS THE AREA I AM INTERESTED IN GROWING OR DECLINING? Real estate agents are usually at the forefront of analyzing market trends in areas they work in. They have insights on areas that can turn from a swamp into a bustling residential area in a few years, while others may transform from highly desired neighborhoods into foreclosure cities. Your agent should be familiar with such details as they will ultimately affect your investment. Finding the right real estate agent may feel like swiping right on a tinder date, where you are not sure if you swiped on the right person or not. But as your window into the world of real estate by buying your home, do your diligence. Do not settle on the first agent you meet, ask them a few questions. Their years in the business, their reviews, how they communicate, the number of clients they represent, and the ratio of sellers and buyers they’ve worked with will give you an idea of how effective your working relationship will be. As a buyer, a good real estate agent should take your present and future needs into account when THE POWER IS NOW MAGAZINE | NOVEMBER 2021
finding you your ideal home. At the Power is Now Media Inc, all real estate agents are well experienced and have been vetted. Click on www.thepowerisnow. com and find a certified real estate agent to make you’re buying a home a reality. ABOUT CORNELIUS L. JACKSON. As a highly successful realtor, broker, credit repair expert, and former law enforcement officer, Cornelius Jackson uses his wealth of skills and experience to run his company, CLJ Enterprise Inc. Cornelius has worked in real estate for fifteen years and started his company, CLJ Realty Group, in Orange County, California, just five years ago. He created his business with the original intent to assist asset managers with selling REO properties (property that the lender has repossessed for non-payment of the mortgage loan) – but he shifted his focus. So, in addition to selling these properties, he helps people that may be losing their homes. Cornelius also expanded his focus to assist people with bad credit and help them rebuild to become homeowners. If you are a homebuyer, looking to buy the property and you need preapproval for your mortgage or if you are looking to refinance your home, contact Eric Lawrence Frazier, MBA, at 800-261-1634 ext. 703. He has decades of experience in the real estate industry and also as a mortgage advisor. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www. thepowerisnow.com Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media Works cited https://home.howstuffworks.com/real-estate/buying-home/5-questions-you-shouldask-your-realtor.htm#pt8 https://www.homelight.com/blog/buyer-questions-to-ask-a-real-estate-agent/ https://houwzer.com/blog/15-essential-questions-to-ask-a-realtor
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By Jenny Gonzalez
123rf.com
Real Estate Market Update. A Snapshot of Corona Housing Market
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he Corona housing market has for the better part of the year been very competitive. Predominantly a seller’s market, price appreciation has shot through the roof in double digit. The high demand for homes has, however, not been matched by the sparse supply. Homes have been receiving multiple offers, with most seeing bidding wars and people eager to own a home paying well over the list price. This trend, however, began to shift in July as more and more homes entered the market. Price appreciation has even slowed, as buyers begin to push back on the very high prices.
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If you are thinking of entering the Corona Housing market, here is what you should know. 1. HOME LIST AND SALE PRICES. In July, the median sale price for homes in Corona was $$697,211. And up 3.5 percent in August with the average sale price of $676,211. The median list price in September was $671,990. The median list price of homes in Corona, CA is $699,888 verging on the $700,000s. With the median sale price in Corona October 2021 was $690,385. 2. STILL A SELLER’S MARKET. Corona CA, is a seller’s market in October 2021, with more buyers in the market than there are sellers. However, the Corona Market is indicative of a “cooling” market—with homes staying longer on the market. Time seems to have passed when you sold a home the next day, unless you are priced right, have the right agent and have the right buyers. 3. DAYS ON MARKET. Homes in Corona are spending a lot more time On the market l
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compared to previous months. In October, 2021 homes in Corona on average are selling after 41 days on the market. In the second week of October, the average market days for homes in Corona was 36 days, down 21 days. 4. INVENTORY. Inventory in Corona in October 2021, is still very sparse with just under 200 active listings in the second week. This is a significant drop from August 2021, there were 310 active listings, July’s 252 active listings and September’s 240 active listings. The current month’s supply for homes in Corona is 1.6 months, a significant increase from 0.5 months’ supply sometime this year. 5. RENT. Rent in Corona has in October 2021 dropped from $2,900 to $2,600. The decrease might be as a result of first-time buyers exiting the renting scene into the housing market. Home affordability in Corona is increasing, thanks to down payment assistance programs and more sellers are now accepting FHA MVA homes offers. The pandemic has altered not only the Corona housing market but also the national housing market. But with more and more vaccinations and things returning to “normalcy” people from Corona are leaving the market into Riverside and Lake Elsinore. Not all people are opting to sell their homes though, some homeowners leaving the area are renting their homes out, leaving relatives to live in them and some are planning to visit the homes once in a while. Mortgage rates are expected to go up into 2022, something that will affect home affordability. Keeping that in mind and the fact that Corona is moving towards a buyer friendly market the time to buy is now. Head on to www.thepowerisnow. com and meet our qualified and experienced real estate agents to buy or sell your home.
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ABOUT JENNY GONZALEZ Jenny Gonzales has been in the real estate industry since 1998. Her career started at a company that did Real Estate and Loans. After six months of mastering that craft-loans (She’s a numbers person), she drove straight into Real Estate. Her first listing was of a couple in their 30’s that responded to a handwritten letter like all the other letters. The couple had spent on breast cancer treatments and had another baby coming. Their home cost them more than it was worth and just like that her first listing was short sale in the 1990’s. Her first buyer was a family with children the same as hers and the father was a police officer, she found them a home under the Officer Next Door Program. Jenny has been fulfilling dreams ever since! If you are looking for an agent to guide you or somebody else in the either selling or buying their homes in the Corona, reach out to Jenny Gonzales on our Website: www.thepowerisnow.com On top of that, if you are looking to get preapproved for your mortgage, or need mortgage advice, reach out to Eric Lawrence Frazier, MBA, at 800-261-1634 ext. 703. You do not need to go at it alone! ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media
Works Cited https://www.movoto.com/corona-ca/market-trends/ https://themurogroupre.com/october-2021-real-estate-market-statistics-forcorona-ca/ https://www.youtube.com/watch?v=2UM41tR4W_U
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
By Danon Burnside
How to avoid falling victim to fraudsters in the homebuying process
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t’s the dream of most San Bernardino citizens to become homeowners. The financial sacrifices and hustle for years to make that dream a reality sometimes is all in vain and unfortunately, this turns out to be a nightmare that most usually don’t get over. This is because Real estate fraudsters are always ready to take advantage of such opportunities, to commit crimes and sow where they did not reap by conning their victims. Homeownership has currently been prone to fraud especially due to the digitized home buying processes. As much as mobile and online transactions have been advantageous for the real estate world, they are a big part of the increased fraud cases. As per 2021 CoreLogic’s, the National Mortgage Application Fraud Risk index increased 37.2 year over year. The county District Attorney’s Office of San Diego like most cities in the United States has adopted and advanced a Real Estate Fraud unit for investigations and prosecution of real estate criminals and fraudsters. HOW TO AVOID BEING THE VICTIM OF A FRAUDSTER ALWAYS HAVE A QUALIFIED AND LEGITIMATE REAL ESTATE AGENT It might be tempting to prefer buying a house without a realtor to save more. This however puts the buyer at the risk of falling a victim to fraudsters. Realtors protect, act as buyer’s representatives and advocates. They, therefore, guide buyers
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and this helps make them not fall into the hands of fraudsters. Also, make sure the agent is registered under the Estate Agency Affairs Board. As put across by Grahame Diedericks, Manager Principal in Midrand for Lew Geffen Sotheby’s International Realty, “Now, more than ever it’s critical to appoint well-established and accredited property professionals.” ATTEND HOMEOWNERSHIP EDUCATION COURSES The U.S Department of Housing and Urban Development usually offers these education courses to homeowners and home buyers. Before buying a home, it is advisable to attend the courses for homeownership advice and to be well informed about the real estate market. The HUD often increases home buyers’ awareness of the risks they may face especially for any first-time homebuyer. MAKE SURE YOUR LOAN CONTRACT AND AGREEMENT ARE REVIEWED BY A SKILLED REAL ESTATE ATTORNEY Before signing any home-buying document, the buyer should have it reviewed to ensure it is legal or take it to an agency approved by Housing Urban Development if at all the buyer cannot afford an attorney. This assures the buyer that the documents are legit and there is no risk of being conned. “Experienced conveyancing attorneys from a registered and recognized brand will not only safeguard you, but they are also always current on all aspects of the industry, including potential pitfalls and dangers like fraud. “Says Diedericks NEVER SEND BANK DETAILS THROUGH EMAIL Due to digitized mobile transactions, email hacking in real estate has become rife. A buyer should therefore not send bank details or documents through email. Alternatively, they should either call or personally take their bank details or any needed documents to the company. The buyers should always be on the lookout for suspicious red flags during the home buying process. Worrying about being scammed should be the last thing in a home buyer’s mind but sadly, nowadays it is important to be vigilant as you go through the process of homeownership. Are you planning or ready to finally purchase your dream home? You don’t have to worry about falling on the fraudsters’ 90 l
victim list. Be among the happy homeowners by simply getting contacting The Power Is Now Media Inc. This is where real estate professionals, lenders, and appraisers are ready and willing to walk with you in every step of your most essential financial decision journey. Contact Eric Lawrence Frazier MBA DRE, the CEO, and President, or Danon Burnside a VIP agent of the Power Is Now Media Inc. in San Bernardino, and become a happy homeowner. ABOUT DANON BURNSIDE Danon Burnside is a San Bernardino native who has been licensed since 2008. He has 12 years of retail sales experience and four years of residential property management. He got his Associate of Science degree in business administration from Argosy University in 2016. He is a city manager for San Bernardino and a member of CAR, NAR, and CVAR. Danon joined The Power Is Now Media in 2017. ABOUT THE POWER IS NOW MEDIA INC. The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage in various thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help make your homeownership dream a reality. Go to www.neverrentagain.com and get started today. Eric Lawrence Frazier MBA, Vice President and Mortgage Advisor of First Bank, NMLS 461807. President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com
References https://www.privateproperty.co.za/advice/property/articles/real-estate-fraudawareness-how-to-avoid-falling-prey-to-scamsters/8291
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
By Denise Matthis
San Diego Housing Market Statistics for Q4, 2012
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t’s been a frantic ride for the real estate world all over the United States and San Diego is not exceptional. The city has been in the leading list of the most booming real estate markets. Recently, the market has shown some signs of cooling off giving investors a sign of relief. Well, I can’t for sure tell if the market will shoot even higher or go back to the pre-pandemic mode from the recent stabilization. Here is what San Diego Q4 has in store:
HOUSING INVENTORY The house Inventory drastically decreased from the beginning of the pandemic to April this year when they started to steadily increase.As per Federal Reserve Bank, there were 640, 716 active listings in September. The average number of days homes stay in the market is 1.7 months a clear indication that the housing demand in San Diego is still higher than the supply. With no doubt, San Diego is a sellers’ market and there’s no likelihood of a shift this fall. There is a likelihood of inventories increasing in Q4 as more homeowners will list their homes and new comes might come to the market. This is possible if at all the Covid 19 vaccines become common. HOME PRICES San Diego is amongst the top five most expensive states in California due to its high median home prices. Home prices have been rising since last year but peaked in June this year and since then, there has been a steady decline. The median listing price as of October is $ 957,000 a 19.6 percent increment over last year. Home prices are inversely proportional
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to mortgage rates and inventory thus, the low mortgage rate and inventory have been fueling the high prices. However, despite the high prices, buyers have a high purchasing power-driven by low mortgage rates. MORTGAGE RATES There are different types of mortgage rates available for homebuyers in San Diego. The Q4 average mortgage rate is at 3 percent with a 30 year fixed mortgage at 3.06 percent,15 years Fixed mortgage at 2.42 percent, and the 5/1 ARM at 2.78 percent. According to the predictions by Mortgage Bankers Association, average mortgage rates might rise to 3.2 percent by end of this year which means prices might likely go down. RENTAL PRICES Published by Zumper National Rent Report, San Diego rents are amongst the highest in the US with a 4 percent increment each year. Approximately, 46.7 percent of residents of San Diego are renters since they cannot afford to buy a home with the spiking prices. The median price for a condominium has increased by 18.3 percent to $ 550,000, a two-bedroom is at $2,700 per month, and a one-bedroom is at $ 1,985. HOME APPRECIATION San Diego home appreciation has increased by 22.5 percent in 2021.For the last ten years , San Diego has shown an appreciation rate of 82.7percent which is 6.22 percent annual rate placing it in the top 10 percent countrywide for real estate appreciation. The market might be stabilizing but it won’t stop thriving this fall. The housing supply is still higher than the demand and mortgage rates are constantly historic low. I think this is perfect time for a prospective buyer or seller in San Diego. All you need is an ideal home ownership partner. The Power Is Now Media Inc. is the best partner you can get. Visit www.thepowerisnow.com for more information. You can also contact Denise Matthis our VIP agent un San Diego and become a happy homeowner.
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ABOUT DENISE MATTHIS Although not a true “San Diego Native”, Denise E Matthis has been a resident of San Diego since the age of 2. Denise is the Owner/Broker of DEM Financial Services & Real Estate, a boutique brokerage dedicated to promoting community pride through homeownership and building & preserving generational wealth with real estate. As a buyer’s representative, she is passionate and works with first-time home buyers and veterans educating them on the home buying process and works with investors. As a seller’s representative, she specializes in seniors, probate, and distressed property sales. To learn more about Denise, go to; https://thepowerisnow.com/denise-matthis/ ABOUT THE POWER IS NOW MEDIA INC. The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage in various thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help make your homeownership dream a reality. Go to www.neverrentagain.com and get started today. Eric Lawrence Frazier MBA DRE, Vice President and Mortgage Advisor of First Bank, NMLS 461807. President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com
References https://www.sandiegorealestatehunter.com/blog/san-diego-real-estate-marketforecast/ https://www.luxurysocalrealty.com/blog/san-diego-real-estate-market/ https://www.ncpropertygroup.com/blog/market-forecast-fall-2021
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
123rf.com
By Robert Langston
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inter holiday is already here and December holidays are just around the corner. The streets are busy with people traveling and making routine plans for the holidays. Selling a home maybe therefore seem a little challenging .Conventionally, holidays have been know to be among unfavorable times to sell a home but it can work for you. Fortune begets the bold, so take the step and go beyond the odds. With all the limitations of selling a home during the holiday, you still can make a good sale with the following tips; MINIMIZE THE HOLIDAY DECORATIONS It’s usually a time to fill homes with all types of holiday decorations. However, if you are planning to sell your WWW.THEPOWERISNOW.COM
house this holiday, just don’t overdo the decorations. They may look glamorous to you but not impress your buyers. Make sure you don’t put personalized decorations and items, this enables a buyer to have a clear imagination of what the house would look like with their furniture and items. STRATEGICALLY SET YOUR HOME PRICE There is no much time for negotiations during the holiday you therefore need to price your home right. Don’t place the price too high as this maybe be a turn-off for buyers but again don’t set the price too low as it may raise questions for buyers. A strategic price should be medium as per the overall market price. This gives buyers an impression if you are ready and serious to sell. WORK WITH A PROFESSION Hire the best home professionals to decorate your home. Have your interior décor designed in a way that will have buyers flooding in every day. Let the home be designed to have l
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How To Get a Good Deal During the Holiday Season
what it takes to be each buyer’s attraction. Additionally, have a qualified realtor walk with you as they already know what the buyers really want. They will help you with pricing and finding a perfect buyer. IMPROVE YOUR CURB APPEAL A home’s first impression means the most and in a great way determines its attraction power. Make your front yard aesthetic since it’s the exterior that gives the buyers the urge to see the inside. You can also add some sensible holiday decorations to give your buyers a welcoming and warm environment. An attractive curb appeal will also help appreciate your home value by more than 6 percent. This will definitely make your home outstanding compared to other sellers around. There is no such thing as holidays are ‘odd’ times to sell a house, it all depends on your readiness and seriousness. I actually think it’s among the best times to sell for any determined seller. There are a number of merits that comes with the holidays, so just make your decision! The Power Is Now Media Inc. is your number one real estate partner to turn to whenever. It doesn’t matter if it’s on holidays or working days. Get in touch with Robert Langston, our VIP agent in Sacramento at bobbyreinc.@gmail. com or the CEO Eric Lawrence Frazier MBA DRE 01143484 today and make your sale of the year this holiday. 98 l
ABOUT THE POWER IS NOW MEDIA, INC. The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Phone : 800-401-8994 Website: www.thepowerisnow.com. Eric Lawrence Frazier MBA, Vice President and Mortgage Advisor of First Bank, NMLS 461807. President and CEO of The Power Is Now Media Inc.
References: https://www.investopedia.com/articles/personal-finance/102615/why-holidaysare-good-time-sell-your-house.asp https://www.fortunebuilders.com/home-buying-trends/ https://www.zillow.com/sellers-guide/selling-house-during-winter-holidays/ https://www.thebalance.com/selling-your-home-during-the-holidays-1799068 https://www.laurelbuyshouses.com/sell-your-house-in-sacramento-duringholidays/
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
By Briana Frazier
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Fireproofing Your House in Whittier
revention is always better than cure and house fireproofing is the best prevention against fire for any homeowner. It’s more than terrifying going from having everything to having nothing in a flash of a moment and being left with nowhere to call a home. Even worse to lose a loved one. Well, that’s the nightmare that comes with any fire accident. Whittier like most cities has adopted the National Fire Protection Association (NFPA)code and standards for better and effective home fireproofing. The city provides Whittier fire protection services to homeowners as a way of minimizing fire accidents. WAYS OF HOUSE FIREPROOFING. Install fireproofing systems- this is always the first precaution to consider because the systems are one of the best ways to boost your home security in case of a fire incident. As per the NPFA codes, always have a state professional licensed company or technician install fire protection systems which include; Fire and smoke alarms for early fire detection and warnings. Additionally, Fire extinguishers should be installed in every room but mostly in the highly exposed areas like the WWW.THEPOWERISNOW.COM
kitchen and garage. Fire sprinklers and suppression systems could also serve the same purpose. Have the systems periodically inspected, maintained, and repaired by certified fire service companies or safety engineers. USE NON-COMBUSTIBLE CONSTRUCTION AND FURNISHING MATERIALS: Building materials are a great determinant. The house roofing should mainly be metal, tiles, or clay as they are less susceptible to fire. Gutters and roofs should also be regularly be cleaned to avoid an accumulation of debris and dry leaves. Use dual paned windows since they are more resistant to breakage by fire or even wind. Use less-flammable interior décor materials and fabrics. TAKE HOME SAFETY MEASURES: A homeowner is the first fireproof of their house. Applying simple routine precautions helps a lot in fire prevention. Always turn off all the heat-producing and electrical appliances before leaving, when not in use or when retiring to bed. Keep anything that can burn fire away from the fire source. Always keep matches and lighters out of reach for children and l
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never leave them alone with burning objects. This and more should always be on the mind of any homeowner who does not want fire-based losses. Create a fire defensible area- this is an area that acts as a barrier between the house and the flammable area. It should be free from flammable materials. It is highly recommended that the area should be made of concrete or gravel landscaping. The vegetation and trees around that space should be fire-resistant, lavender and poplar could do. Also, make sure there is no dry vegetation and bush, always keep the area evergreen as lush green vegetation is less susceptible to fire. Defensible space helps slow down the spread of fire. Fire incidents occur almost every day bringing loss
ABOUT BRIANA FRAZIER Briana Frazier Cannon, Broker of Frazier Group Realty, has over 15 years of real estate sales and property management experience. She is well known in the industry and with her clients as Broker Bree. Briana 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’s 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. ABOUT THE POWER IS NOW MEDIA INC. The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage in various 102 l
of property leaving people homeless. It’s even more unfortunate when lives are lost and some are left to heal fire accidents injuries. Most of these fire accidents are inevitable if the right measures are taken. Your number one priority as a homeowner is to keep your family safe, that’s why fireproofing is one of the solutions to achieving that objective. What are the best ways to fireproof your home? Homeownership comes with a lot of responsibilities, and having a trusted partner to walk that journey with you is all you need. The Power Is Now Media Inc. is that partner and you have to look no further. Contact the CEO, Eric Lawrence Frazier MBA DRE 01143484, or Briana Frazier a VIP agent in Whittier and get to know the best ways to make your home fireproof.
thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc can help make your homeownership dream a reality. Go to www.neverrentagain.com and get started today! Eric Lawrence Frazier MBA, Vice President and Mortgage Advisor of First Bank, NMLS 461807. President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com References www.fireservicepro.com/Whittier/services.htmls:. https://www.fireservicepro.com/ Whittier/services.htmlod idea pretty mu https://townelaker.com/10-ways-to-fireproof-your-home/ https://www.holicongsecurity.com/blog/2020/04/10-ways-to-fireproof-yourhome
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
By Adrian Bates
L.A’s Top Most Affordable Neighborhoods
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os Angeles has a reputation for being one of the most expensive cities in the country.
But is it? You might be surprised that L.A maybe actually more affordable than you may otherwise presume. So we are going to give you a quick snapshot of LA’s most affordable neighborhoods. Over the last two years, the cost of homes has been skyrocketing almost everywhere, which makes it worse for LA, a city known for its notoriously high prices for real estate. I think one of the lessons COVID-19 taught many people is the need to save. People are opting to save money. Look at home preferences and the choice of neighborhoods for many people. You’ll realize a pattern emerging wherein there’s a general preference for neighborhoods that WWW.THEPOWERISNOW.COM
are either farther away from the city or more affordable. Earlier this year, The Power Is Now Media published an article titled “The Great South Migration: An Era-shaping Exodus for the Northerners real estate markets” on the August Issue of The Power Is Now Magazine, which highlighted the affordability crisis and why people are moving south. In case you haven’t read the article, here is the link; https://www. thepowerisnow.com/the-power-is-now-magazineaugust-2021/. California certainly is in a crisis that cannot be solved by economic recovery but by building more AFFORDABLE homes!
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Or someone will ask me, “my budget is 300-400K. Can I get home in LA?” Well, yes, you can! And one of the myths I would like to debunk is LA is actually not an expensive city. Although some areas are, that doesn’t mean that it’s like that everywhere. SO, WHERE CAN YOU FIND AFFORDABLE HOMES IN LA? 1. LANCASTER MEDIAN HOME SALES PRICE $430,000 Redfin reports that Lancaster home prices were up 22.2% Y-O-Y in September, selling for a median price of $430,000. Lancaster has been a strong seller’s market, with homes staying on the market for an average of 14 days. This means that competition has been relatively high. So what are you waiting for? It’s time to buy! Lancaster is one of the main cities in the Antelope Valley region. It is about 60 miles from downtown LA setting it apart as a cool retreat from the hustle and noise of the big city, but not that far that it is impractical to visit. But, of course, who wouldn’t want that? As of 2019 Census Bureau Data, about 160,000 people were living in Lancaster. It has all the amenities you’d expect in a mid-sized city but what qualifies it first on my list is the number of outdoor activities available. Some of the outdoor activities in Lancaster include; the San Gabriel and Tehachapi mountains, Joshua trees, and several ski resorts within an hour’s drive. 2. WATTS MEDIAN HOME SALES PRICE $460,000 Going by the data provided by Redfin, Watts neighborhood had a median sales price of $460,000, which was up 4.3% Y-O-Y. On average, homes stayed on the market for 29 days, which qualifies it as one of the affordable places in South LA. 106 l
Many people living in Watts are mostly longtime residents and have witnessed steady growth and changes throughout the years. There are shopping malls both new and renovated as well as many recreational facilities. One thing you’ll love about Watts is that it is easy to survive without a car! If you would love to forgo using a vehicle, numerous public transit options are available for commuters. 3. PALMDALE MEDIAN HOME SALES PRICE $470,000 Palmdale market has seen an appreciation rate of 14.6% year over year, a good return for the real estate investor. On average, the home stayed on the market for not more than 14 days which shows a strong buyer appetite. I love Palmdale because it sits far from all the city noise, just like its twin city Lancaster. In addition, Palmdale’s economy is thriving thanks to the large aerospace employers Lockheed Martin and Northrop Grumman. If you are interested in outdoor activities, Palmdale is the place to be, and a must-see feature is the Palmdale Amphitheater- an outdoor arena that seats 10,000- and the Rancho Vista Golf Course. There’s a whole new world to be discovered in Palmdale, and I cannot wait to share it with you! 4. PARAMOUNT MEDIAN HOME SALES PRICE $502,500 Coming in fourth place is Paramount. Redfin data shows that the home prices in this region were up 20.5% in September compared to last year and stayed on the market for an average of 14 days. But what makes paramount exceptional? Its relatively affordable compared to its neighbors- long beach ($801K), Compton ($550K), and South Gate (627.5K). THE POWER IS NOW MAGAZINE | NOVEMBER 2021
Paramount is one of the places to settle down if you are looking for a rich and diverse experience. I love it because of its many parks (10 in total), which offer a serene environment just to relax and enjoy the wonders of nature. These parks have fishing ponds, jogging trails, and skate ramps.
in L.A. To learn more about these neighborhoods, reach out to Adrian Bates, The Power Is Now VIP Agent in Los Angeles County. Or, you can reach out to Eric Lawrence Frazier MBA today a mortgage professional with over 30 years of experience. You can reach Eric at 800-261-1634 ext. 703.
It is the best place to enjoy California’s sunshine. 5. FLORENCE MEDIAN HOME SALES PRICE $522,500 According to Redfin, in September, B.A.L.Ame prices in Florence increased 18.8% compared to the same period last year. It is a strong seller’s market where homes stay in the market for less than 22 days. Is it affordable? L.A.’ll let you be the judge and answer that question, but Florence has always struck me as one of the most affordable, parkfilled suburbs in L.A. It is located in South LA., and many homes are single-family residences with a few scattered condominiums. What You’ll love about this suburb is how easy it is to get to stores as well as there are so many fast food options available. Lastly, Florence is full of culture, and residents consider their neighborhood an epicenter of South LA Living. Want to check Florence out? Reach out today, and let me show you one of the best places to experience a true southern L.A. lifestyle! To consider what makes a city/neighborhood affordable, there are some factors I had to put into consideration. These are; • • •
The cost of living. The median home value. The affordability ratio.
When these figures are averaged, they give an overall score which is how I compiled the data above for the five most affordable neighborhoods WWW.THEPOWERISNOW.COM
ADRIAN BATES DRE#00929036 | Los Angeles Adrian Bates graduated from Cal State University with her B.A. in Psychology (Business Management minor) in 1980. The former aerospace contract negotiator became a real estate sales agent in 1985 and then a broker in 1990. In April of 1995, property sales across America were on a serious downturn, yet a young and determined Adrian Bates opened A-1 Realty in Los Angeles, CA. With her fortitude and divine help from God above, her team two grew into a team of eleven agents by November 1996. Click here to learn more about Adrian. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com.
Sources https://www.neighborhoods.com/blog/the-10-most-affordable-neighborhoodsin-los-angeles https://www.movoto.com/guide/los-angeles-ca/affordable-los-angeles-suburbs/ l
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By Success Money
Why is it mandatory in California when you finance a house to get insurance?
WHY IS HOME INSURANCE IMPORTANT? With home insurance, a homeowner does not have to carry the financial burden that comes along with disasters and this prevents them from financial distress. By homeowners paying a premium to an insurance company, there is an assurance of having a partner in disaster in now and in the future. WWW.THEPOWERISNOW.COM
For most people, a home is one of the most valuable assets they own. It is, therefore, a wise decision to protect such an investment. This is only possible if they have home insurance. The average cost for homeowners policy is1, 014 per year for a 250, 000 in dwelling coverage according to, 2021 Bank rate’s study of the annual premium. The rates vary depending on the home size, credit scores, and zip code. With the numerous insurance companies in California, individuals can choose their best preference depending on the amount of coverage an individual wants, their insurance budget, and the type of insurance they require. However, there are the basic homeowners’ insurance policies a standard Southern California home insurance should have. There is so much peace of mind that comes with knowing that you are protected. This is no different for an insured homeowner, who is sure that someone else has taken the risk of bearing their losses in case of a disaster in the future. What else could be better? Enjoy your everyday stay at your l
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t’s a world of uncertainties and inevitabilities. Accidents and natural calamities are inevitable and are likely to occur anytime. Southern California citizens are aware of common disasters that strike in homes and to avoid the risks of great financial losses, getting insurance is what they consider the best option. The good with home insurance is that not only does it cover the house but also personal belongings, liability risks, and the people living in that house. It especially is mandatory that, if a buyer has financed their home with a mortgage then they should have home insurance. A homeowner should purchase the insurance immediately after they take possession of the house.
home knowing very well that your family and home investment are under another protective roof. Wondering which is the ideal insurance for your home? Do you need the best home insurance advice? Have your questions answered today by getting in touch with The Power Is Now Media Inc. VIP agent based in Southern California, Success Money. You can also contact the CEO Eric Lawrence Frazier MBA DRE 01143484. ABOUT SUCCESS MONEY Success Money is a creative and passionate entrepreneur. She started her career in the mortgage and real estate industry in 2005 while studying Business Administration and communication in college. She has assisted in establishing and serving on numerous boards throughout her career including; The Black Chamber of Commerce, National Association of Real Estate Brokers (NAREB) at the city, state, and national level. She is the founder of House of Success, a non-profit organization established to assist entrepreneurs, artists, and creative with building and expanding their business, brand, product, and services. 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. ABOUT THE POWER IS NOW INC. Power Is Now Inc. is an advocate for the empowerment of minority communities all around the United States. We engage in various thought leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help you make your home ownership dream a reality. Go to www.neverrentagain.com and get started today. Eric Lawrence Frazier MBA DRE, Vice President and Mortgage Advisor of First Bank, NMLS 461807. President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com
References https://www.investopedia.com/articles/insurance/09/property-insurance.asp https://www.thehartford.com/aarp/homeowners-insurance/california https://www.bankrate.com/insurance/homeowners-insurance/in-california/
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THE POWER IS NOW MAGAZINE | NOVEMBER 2021
By Joe L. Fisher
Here’s how to help your kids cope with a move
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ith rents on the rise, many families are prospecting to move to more affordable locations. And it makes sense because one thing the COVID-19 highlighted for many companies and individuals is that people can still do their jobs remotely. And as disruptive as the move can be, it can be more traumatic for the children who, in most cases, are left out in the decision-making process. Children of all ages will deal with the move differently. First, they will feel lost! Second, they lose their old friends, and the new place you move into will feel like they do not belong. They don’t fall asleep easily, especially if they were used to the old home and if at all they sleep, they do not sleep well! They wake up in new places. Some of the bigger kids get angry and sad, and this can lead to mental issues. For the little children, patterns of regress start forming. A move isn’t something to be taken lightly. WWW.THEPOWERISNOW.COM
During the transition phase, when still deciding, you need to pay extra attention to the children. But how do you do that? The following are tips to help you make the moving process less stressful for the children. THE DECISION TO MOVE This is where to begin helping your children to have a softer landing. You need to realize that many children thrive and do well in an environment that they are familiar with. Likewise, they do well where they have established some sort of a routine. When that is taken away, they will obviously pull back, forcing them to start all over. As such, when deciding to move, it is vital to first weigh the options at hand against the comfort established by the familiarity of the surroundings, school, and social life your kids already have. Assuming that you may be already dealing with a major life change, for example, the death of a family member, or a divorce, it is crucial first to l
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postpone the move if possible to give your kids enough time to adjust. Where the decision to move is totally out of your control, for instance, assuming that you are moving because of your job, or financial issues, it is important to maintain your ‘cool’ during this phase. one thing you have to understand is that during this phase, a parents moods and attitude can greatly affect the child who may be looking for reassurance. LET YOUR CHILDREN IN ON THE DECISION TO MOVE I feel this is where most adults make the terrible mistake of not letting their children know that they are planning to move. The most important way to protect your children is to let them know, preparing them for the move. You must give your children as much information as possible and be open about it as you possibly can. Answer all the questions they might have and be completely transparent and receptive to both the positive and negative reactions they project. Sometimes I know that the decision to move may improve the family condition and that you may be well-meaning, but kids don’t always understand this. Instead, they are mostly glued to the frightening aspect of the move. The advantage of involving your children in this process makes them feel like participants rather than outsiders to the house-hunting process. Involve them every step of the way, and you see how fun it’ll be even searching for the new school. It will make a move feel less like a forced circumstance on them. If you are moving to a remote location, let the kids know which city they are moving into. Help them explore the city and their neighborhood and finally their new home. Let them learn about their community, show them or find out together where they can participate in their favorite activities. This is important as it will give the children a softer landing and an easy time adjusting to the new environment.
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ONCE YOU HAVE MOVED You must reestablish the routine the kids were familiar with as quickly as possible. For example, have their rooms unpacked as soon as the move happens and get back to normal routines like mealtimes, bedtimes, and playtimes. This familiarity will establish some sense of security and comfortability. GO WITH THE CHILDREN ON THEIR FIRST DAY AT SCHOOL AND MEET THEIR TEACHERS. Ask the teacher to reach out to you if there are concerns with the child. If you don’t hear from the teacher, check in with them after maybe four weeks to see how the child is adjusting. Yes, the move can be traumatizing for the child, but doing it right can help not just the children but the whole family, bringing you all together. If you would love to move to Richmond, CA, talk to our VIP Agent Joel Fisher, located in Richmond, CA, or reach out to a mortgage professional with over 30 years of experience. You can reach Eric at 800-2611634 ext. 703. ABOUT JOE L. FISHER DRE#01070856| Richmond • • • • • • • •
First time Home Buyer Specialist Realtor since 1988 Past Board of Directors CCAR Past President West Contra Costa Association of Realtors President Coronado Neighborhood Council Board of Directors Richmond Chamber of Commerce Board of Directors Richmond Convention Visiting Bureau Board Chair for Richmond
ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com THE POWER IS NOW MAGAZINE | NOVEMBER 2021
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
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n an ideal world, the home buying process should be smooth and straightforward. In the real world, however, the process is complex and is filled with a lot of challenges. Challenges that go beyond finding a great real estate agent and finding the perfect home to the legality of the whole process. While buying a home may be exciting, the process is a legal contract and as such here are some of the legal problem areas in real estate: 1. PROBLEM WITH TITLE. “Title” as defined by McMullan & Brown is a property owner’s right to own, use or sell a piece of land. A title defect refers to any potential threat to a current owner’s full right or claim to sell a property. A shared misconception among new homeowners is that after signing all the documents at the closing table, they become outright owners of the homes. There are some circumstances that could threaten their rights as the real state title holder. A common title defect occurs when the property has a publicly-recorded problem such as a lien, when a property owner fails to pay property tax or a utility bill. Another instance is when a homebuyer takes out a mortgage loan to pay for their home—In which case the lender has a lien on the property and may foreclose on it if the homebuyer fails to make payments. Other title defects may occur due to errors in the public records, bankruptcies, liens for child support and spousal support, forgeries. Undiscovered wills, missing heirs, illegal deeds, boundary and survey disputes, unknown 116 l
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Four Legal Problem Areas in Real Estate
easements and undiscovered encumbrances The good news is that homebuyers can avoid these title defects. The first step a homebuyer should do is a title search—a title agent or real estate attorney will conduct it on their behalf. They will ensure the title has no issue attached to the property the homebuyer wants to purchase and that there exists no break in the chain of title or other important paperwork that leads to any lien. Alternatively, getting a homeowner’s title insurance policy that covers any future threat to the owner’s right to the property. The policy is far much cheaper than “curing” the tittle, an expensive process of removing lien and other encumbrances attached to the property. 2. PROBLEMS WITH ACCESS. Road easement is another common problem area for people navigating land ownership and purchasing property. It refers to the legal right of a non-owner to use part of another person’s land for a specific reason. Road easements often occur when a person needs to access their property but there is no legal pathway between a given parcel of land and public roads—making it difficult to legally use land they’ve purchased. In such cases, road easements or other legal tools are used to remedy the situation. Unfortunately, easements do not have to be written into the title deed to exist, this may make it difficult for land buyers to know whether a property has easements or not. THE POWER IS NOW MAGAZINE | NOVEMBER 2021
Some states, however, legally require sellers to disclose easements on their property. In most cases, it is always up to you to do your due diligence 3. PROBLEMS WITH DISCLOSURES. All sellers of real estate have a duty to disclose to a buyer any defect that a property has. A homebuyer does not have to make inquiries about the conditions of the home so that disclosures are made. It is the affirmative duty of the seller to disclose this information to the seller. In some states, sellers are only required to disclose any known defects with a real estate property only when asked. However, the rules in California are far more stringent, requiring all sellers to disclose all defects of a home that materially affect the value of a home without being asked. If a seller fails to disclose defects that arise before and during the execution of the contract, they can face significant consequences. The seller is also required to disclose any previous defects even if they have been fixed. If a buyer is able to prove that a seller knowingly withheld the knowledge of defects, they can sue and are entitled to compensatory damages (out of pocket expenses the buyer incurs), punitive damages, equitable relief (this is non-monetary, includes the court asking the seller to do or not do something.) However, it is even better that before buying a property that a homebuyer seeks legal assistance to protect their legal right. 4. PROBLEMS WITH ENFORCEMENT Once the seller and buyer sign the Agreement of Purchase of Sale, a legally binding contract is formed. But even after the contract for a real estate transaction has been drawn up, challenges may still exist. For instance, if a buyer or a seller attempts to back out of an agreement if a better offer is made. In some cases, there might be an error in the agreement, while others might agree to have it amended, others may take the error as an opportunity to back out from an agreement. There, however, litigations that enforce these pending contracts and may even provide an incentive to complete the transaction in question. WWW.THEPOWERISNOW.COM
Buying or selling a home is made out to be simple. The reality of the whole process can be quite complex, more so if you do not know what pitfalls to look out for—and that can cost you. For starters, many homebuyers believe that as soon as they buy a home, they have a right to it. If a property upon purchase has lien, then the authority owed has the tittle right of the property. In other cases, homebuyers are unaware of their legal rights when it comes to defect disclosure. Homebuyers, in general, have to do their due diligence and go a step further to contact a real estate attorney to anticipate and remedy any problems arising from the process. ABOUT ERIC FRAZIER Eric Lawrence Frazier is President and CEO of the Power Is Now Inc. The Power Is Now is a multimedia company specializing in real estate and mortgage education for consumers and real estate professionals on various topics in real estate, lending, economics, and government policy since Sept. 1, 2009. The financial and real estate information is distributed through BlogTalkRadio, iTunes, TuneIn, and other online radio platforms nationwide, as well as online TV and eMagazines. Connect with Eric Frazier DRE 01143484 | NMLS 461807 | Office: 800-401-8994 x 703 | Direct: 714361-2105 and start your real estate investment journey or homeownership in safe hands. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com. Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media
Works Cited https://www.m-b.law/4-legal-problem-areas-in-real-estate/ https://www.hg.org/legal-articles/necessary-disclosures-in-real-propertytransactions-46904 https://www.bankrate.com/mortgages/common-property-title-issues/ l
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Analysis: Two Months After Moratorium’s End. How is the Foreclosure Activity?
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he Center for Disease Control and Prevention, together with the Federal Housing Finance Agency, through President Joe Biden Administration, has for months been extending the eviction Moratorium following the hit of the pandemic. The last CDC moratorium extension had been set to go till October but was ended in August by the United States Supreme Court. This was due to a challenging policy brought by a coalition of Landlords and real estate trade groups. Consequently, this decision immediately resulted in a crazy spike in foreclosure filings all around the United States. As published by ATTOM RealtyTrac, the U.S.A Foreclosure Market Report August 2021, depicted a total of 15,838 U.S. properties foreclosure filings, marking a 27 percent increment from the previous month and 60 percent increment from last year. Furthermore, in August, lenders had already started foreclosure processes on 8,348 properties depicting a 27 percent increment from last month and a 49 percent increment from last year. While others repossessed 2,474 US properties through complete foreclosure, which is a 2 percent increment from last month and 22 percent year over year. According to the RealtyTrac report, regionally, the states of Nevada with one in every 4,738 housing units, Illinois with one in every 3,848 housing units, and New Jersey with one in every 4,868 had the highest foreclosure fillings. States that had the greatest number of foreclosure statistics in August were; California with 1,240,Texas with 1,060, Florida (643), Illinois (506), and New York (479). The moratorium end has also been the main reason for the significantly increased rates of eviction cases flooding the eviction courts of the United States. The Executive Vice President at RealtyTrac, Rick Sharga, said: “As expected, foreclosure activity increased as the government’s foreclosure moratorium expired, but this doesn’t mean we should expect to see a flood of distressed 118 l
properties coming to market.” He added that there will be continued foreclosure practices increment for the next three months but, there is a likelihood that foreclosure will remain below normal levels till the end of the year. The moratorium for long had protected the tenants but was disadvantageous for landlords, who had to bear with the unfavorable laws of the eviction ban. The CDC has not been completely resolving the matter with the ban extensions, and now the worst for the tenants has come. What will happen to over the 193,000 tenants behind rent now that there is no protection? Tenants have full responsibility right now! and they have to honor their obligations to the landlords. This is the only way to the solution. Paying your rent on time is a way to avoid been evicted but, owning your own home is the ideal and lasting way to the avoidance of eviction chances. Contact The Power Is Now Media Inc. through the CEO Eric Lawrence Frazier MBA DRE 01143484/ NMLS 461807, and own your home with the little you have. ABOUT THE POWER IS NOW MEDIA INC. The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage in various thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc can help make your homeownership dream a reality. Go to www.neverrentagain.com and get started today! Eric Lawrence Frazier MBA DRE, Vice President and Mortgage Advisor of First Bank, NMLS 461807. President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com
References: https://newslink.mba.org/mba-newslinks/2021/september/mba-newslink-mondaysept-13-2021/foreclosure-activity-increases-after-moratorium-ends https://nationalmortgageprofessional.com/news/foreclosures-spike-aftermoratorium-ends https://www.thetitlereport.com/Articles/Foreclosure-activity-up-following-end-ofmoratoriu-83287.aspx https://dsnews.com/daily-dose/09-10-2021/how-the-moratoriums-end-isaffecting-foreclosure-activity
THE POWER IS NOW MAGAZINE | OCTOBER 2021
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ndoubtedly, 2020/21 has been two tough years for everyone. So many people lost their jobs only recovering this past few months. But, something interesting did happen, more so in 2020 where we had protest and demonstrations over the murder of George Floyd. If one thing, and I would like to take it as a silver lining amidst this chaos is that the pandemic really brought out the racial disparities in terms of treatment, opportunity and wealth that still exists subtly. The past two years have raised a bar, and more than that, what was for a long time ignored and swept under the rag can no longer be contained!
The Role of Lenders in Increasing Minority Homeownership
Looking at the homeownership rates for past two decades for all the ethnicities in the country as provided by various sources including the Census Bureau we realize a big part of this problem;
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See how there is a wide margin between the nonHispanic whites and all other minority communities in the country? It even gets worse when you compare the rate of homeownership for the nonHispanics with that of individual ethnicities, say black for instance of the Hispanics. Do not get me wrong, the rate of homeownership for these ethnicities is far much better than it was during the financial crisis of 2008, but it doesn’t explain why there is a huge gap between these ethnic groups. If anything, the gap between the non-Hispanic white’s homeownership rate and other minorities has increased with a staggering 31 percent difference in homeownership rates between the whites and African Americans. Away from that, let me direct your eyes to one of the reports by MIT which indicates that African Americans who do not own homes currently are being penalized by paying more across the life of the loan check this out; • •
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$743 more per year in mortgage interest payments $550 more per year on mortgage insurance premiums $390 more per year in property taxes This amounts to an excess of $13,464 across the life of the loan according to MIT estimates. If you think this is nothing, it has a significant impact, in fact, it impacts retirement savings by $67,320.
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“These inequities make it impossible for black households to build housing wealth at the same rate as white households. The blackwhite income gap of $25,800 is exacerbated by this “black tax” on homeownership. If we eliminate these extra costs paid by African Americans, the $130,000 black-white gap in liquid savings at retirement would drop by half.” Looking at the impact ‘delayed’ housing for the minorities has, we ask ourselves, what role does the lender play? And how can the lender use his capacity to fully empower the minorities to become homeowners? One thing is certain, lenders need to go an extra mile if they want to fully help improve equitable access to homeownership for all. LET’S TALK ABOUT BLACK HOMEOWNERSHIP RATE This is the heart of the problem because black homeownership
rate has been declining consistently and now staggering at 44% virtually unchanged from the levels of 1968. With the historic barriers of discrimination, wealth inequities and patterns of sustained predatory lending to overcome, it seems that change is a long way coming, however, there are steps that we can take right now. “Since 2015 there have been approximately 1 million new Black homeowners. Unfortunately, the number of black applicants has not reached pre-2008 levels,” said Antoine Thompson, executive director of the National Association of Real Estate Brokers, the oldest minority trade group in the nation. “Marketing and outreach, diversity in loan officers and staff and mortgage underwriting criteria may play key roles in increasing Black homeownership.” According to NAREB, lenders can help minorities become homeowners by following a 5 steps;
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REACH OUT TO MORTGAGE-READY RENTERS AND HELP THEM BUILD CREDIT. There is a large share of African Americans that face affordability issues, but that doesn’t discount the sizeable contingent impeded simply because they lack experience in managing their credit in ways that traditional underwriting recognizes. Before the pandemic hit in 2019, there were about 1.7 million mortgage ready Black Millennial who made at least $100,000 annually and even more according to anonymized Freddie Mac data. Additionally, the data shows that there were about 3 million black households who were have been identified as mortgage ready and more than 2 million were able to meet the income requirement, but they never had enough credit history to meet the traditional requirements for the home loans. One of the many goals of the CARES Act was shield minority communities from the impact of the pandemic and to also ensure that the pandemic wouldn’t mar the credit records by disallowing forbearance to be recorded as delinquency. Even so, lenders should actively take the steps to protect African Americans by ensuring that reporting errors and the application of other codes that could be used to indicate forbearance on a credit record do not have adverse consequences. Additionally, lenders also need to make sure that their services reach the thin-file applicants. To do this effectively, it may be possible to use alternatives like rental or cell phone information to underwrite on an exception basis even though the current system doesn’t accommodate it. To be on the safer side, most investors and lenders want to lend based on an established track record, but there’s a hot market for mortgages that finance Environmental Social and Corporate Governance goals as well. Demonstrably financing sustainable housing for black homeowners could be more appealing to these investors. Lastly, the category of qualified renters could enter the housing market if the lenders are able to develop a detailed assessment of the collateral quality and make sure that the first time homebuyers know how to manage the costs of their home in a way that will help them build wealth in the long-term. 122 l
“One of the significant barriers to maintaining a homeowner’s property value is having access to capital to purchase or keep up the home,” said Thompson. Make small, affordable and sustainable loans Financing has been the biggest hurdle to homeownership for many people and blacks are no exception. Therefore, by establishing alternative methods of credit and collateral, this could improve the rate of black homeownership especially with emphasis on the grassroots levels where the racial disparities are more pronounced.
“For example, there’s about a 10 percentage point gap in homeownership of those with annual incomes of $150,000 or more: 80% for Blacks and 90% for whites. In contrast, for those who make $25,000 or less per year, the gap between Blacks and whites is 25 percentage points, with Blacks having a homeownership rate of 25% and whites at 50%.” But the problem is, when it comes to smaller amounts of loans, there are so many systemic challenges and one of the most cited one is the fact that the lenders make less money on them than bigger mortgages while paying the same amount to produce them. While that may be true, let’s be realistic, many lenders today have been exceptionally profitable after the recent origination boom which means, now may be a good time to offset the cost of making the smaller loans. That doesn’t mean that it’s time for lenders to go rogue. They must be very careful making sure that these loans are made within the spirit of regulations that hold the lenders accountable for the borrower’s ability to repay by making sure that borrowers understand and can actually afford the long term costs of lower priced homes they buy. One of the most sought option for the low income homeowner to afford the cost of repairs and maintenance is to refinance and tap into the home equity, but often the reluctance to make the smaller loans precludes that too.
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We have seen cases where a borrower qualifies for a small loan through first time special buyer programs, but when it came to refinancing, the lender was reluctant to deal with the smaller loan. Dealing with smaller dollar loans has always been feared, more so that when small loans are sold on the secondary market, a premium is often paid for them because the investors are counting on the fact that they get refinanced less often. “This inability to leverage home equity and improve a deteriorating home feeds into a perpetual cycle that leads to long-term maintenance issues and persistent degradation of housing values, impeding how much wealth a homeowner will ultimately have,” the Urban Institute’s Housing Finance Policy Center noted in a recent report on small-dollar financing. ‘Urban Institute has been working with Fahe, a Community Development Financial Institution and the Homeownership Council of America on a MicroMortgage pilot project aimed at finding ways to address some of these issues. One of the strategies employed in the pilot program is an initial funding of $2 million which includes an appraisal alternative to lower costs and underwriting based on rent payments rather than a more traditional credit history.’
“It’s really about finding out what ancillary costs can be reduced and what different underwriting standards or parameters you could put in place that would enable doing more of this kind of lending,” said Alanna McCargo, a vice president at the institute and one of the report’s authors. “The main focus for phase one is new purchase loans, and for phase two we will look deeper into rehab and refinance,” she said. “In phase two, we also are planning to collaborate with more players to increase our scalability.” Join the call for some of these public programs Just as we have seen that there are challenges in smaller dollar loans, there are even bigger problems in the overall government dominated mortgage system which has only been intensified by the steep rise in home prices over the last decade. These are the challenges that limit the lender’s capacity to make affordable loans. The capacity of an individual mortgage lender is insignificant compared to the industry and some of the systemic issues that goes on, but still with their limited capacity, they can increase their involvement with some of the larger trade groups that are pushing the governmental policy initiatives to make homeownership a reality and more sustainable. As an example, in 2020 there was a proposed bipartisan legislation that would allow for the creation of a special tax advantaged account that could be used to save for the down payments on homes and this helps many African Americans and other minorities to overcome the cost constraints associated with homeownership. Additionally, it has been noted that many people are struggling with student debts and targeting these individuals could be helpful. The Biden Administration seems to be invested in lowering the hurdles for the people with student loans, thus, lenders could step in and renew their call for a federal Housing Administration change that could facilitate easier borrowing with educational debt. If anything, the FHA’s complicated guidelines and procedures have made so many people fear the homeownership process, but, mortgage
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companies are uniquely positioned to push for a responsible rollback on some of these servicing policies and lender liabilities to encourage lending through affordable programs. After the Great Recession, many lenders withdrew from the FHA and its programs that serve the low income people because of the liability concerns. The Biden administration might fix that, and even though it’s looking to tighten the regulations than fixing them, the end which is equitable and sustainable lending justifies the means. “It could reduce lending costs and also help the lower-FICO borrowers get lower-priced loans as well,” said David Battany, executive vice president of capital markets at Guild Mortgage, and the co-chair of the Mortgage Bankers Association’s Affordable Housing Committee. According to Antoine, improving and expanding the Department of Housing and Urban Development’s 203K rehabilitation and purchase loan program could help create more affordable inventory. NAREB gives the example that the HUD’s 184 program that currently is limited to indigenous people could be expanded to include the black borrowers. This is a program that among so many other things offers below market rate on mortgages with more flexible underwriting requirements and a lower down payment. The organization has on several occasions called for the creation of the African American Homeownership Program “as a restorative policy for past discrimination by the federal government,” said Thompson. “Currently there are federal housing programs for Native Americans, Alaskans, Hawaiians and Veterans. Nothing for African-Americans. A nomoney program with special-purpose credit tools made possible through the Equal Credit Opportunity Act could make a world of difference to increase the rate of Black homeownership,” he added. BEEF UP COMPLIANCE IN THESE AREAS Discrimination is one of the social ills we have to fight to the end and I am glad that the current administration is clearly taking all the measures to beef up enforcement of anti-discrimination rules 124 l
adding more scrutiny to measures of equitable lending. In our previous issue, we discussed about the hope of reviving the disparate impact, and it indeed it falls through, lenders might want to make sure that they have equitable practices in the following areas. 1. MORTGAGE RATES. We all know that African Americans tend to be charged higher mortgage rates on a median basis along with other factors such as incomes. According to a study published by Raheem Hanifa, a research analyst at the Harvard Joint Center for Housing Studies. “The difference at the $100,000 and above income level, for example, was 4.17% for Blacks vs. 3.91% for whites, American Community Survey statistics from 2019 show.” 2. NEIGHBORHOOD LENDING. The current administration should invest more in looking for a broader application or enforcement of the Community Reinvestment Act especially after the fact that the administration has stated before that the CRA “does little to ensure that ‘fintechs’ and nonbank lenders are providing responsible access to all members of the community.” 3. DENIAL RATES. The average denial rate stands at 16% for the conventional home-purchase loans and remains relatively higher for the African Americans in the last set of Home Mortgage Disclosure Act data released. The data reflects 2019 information. In comparison, the Hispanic’s denial rate was 10.8%, 8.6% for the Asians and 6.1% for the Whites. 4. PROPERTY VALUATION. This is an issue that needs more attention and recently came to light after a biracial couple in Colorado reported that they received two appraisal values that differed based on who was at home at the time. IMPROVE REPRESENTATION IN THE FIELD WITH A RECRUITMENT PROGRAM Fair representation, equity and diversity are key issues that need to be highlighted because currently, there are about 12% of credit counselors and loan officers who are black professionals and less than 6% of real estate brokers and sales THE POWER IS NOW MAGAZINE | NOVEMBER 2021
agents are. But, there are efforts by some companies to increase representation with the aim of serving a broader customer base. Recently, NAREB partnered with Homelight a technology company to create scholarship and mentoring program for aspiring black professionals aged between 18 and 35 and currently not established as agents. As part of this partnership, the two will provide up to $5000 per individual to help them cover the onboarding cost for new agents, such as pre-licensing classes, agent exams and certain marketing and technology expenses. A NAREB broker will provide support for at least the first year and the participants will spend between 5 to 10 hours a week working with mentors on continuing education.
Roughly 45% of the members of New American Funding’s workforce are minorities and its lending to Black households exceeds industry benchmarks according to data from the 2019 Home Mortgage Disclosure Act data from the Consumer Financial Protection Bureau. Additionally, more than 13% of New American Funding loans go to Black borrowers as compared 6% nationwide.
and commit to some of these (if not all) recommendation from NAREB’s annual meeting, the “Bridging the Gap in Black Homeownership” they’d make a really huge impact in the area of homeownership for minorities. It is also your initiative as a buyer to ask (and if it forces you- demand) for some of these policy changes. It is your responsibility to search for knowledge about what lenders are doing and how you can take advantage of the opportunities that come. If you would like to kickstart your journey today of homeownership, reach out to Eric Lawrence Frazier MBA at 800-261-1634 ext. 703.
Lenders are uniquely positioned to help everyone, not just the minority communities in the country and therefore, I feel that if they are to take the initiative
ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009
MBA offers scholarship for continuing education through the diversity and inclusion committee for its own programs.
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by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow. com
Sources; https://www.nationalmortgagenews.com/list/5-waysto-increase-the-black-homeownership-rate https://www.housingwire.com/webinar/opportunitiesand-challenges-unpacking-the-lenders-vital-role-inincreasing-minority-homeownership/ https://www.jchs.harvard.edu/sites/default/ files/a_shared_future_expanding_access_to_ homeownership_fostering_inclusion.pdf https://www.statestitle.com/resource/minorityhomeownership-disparities-offer-an-opportunity-forlenders/
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America- the land of the free and the home of the brave! It’s a vast, diverse land with so many cultures dating back thousands of years to the land’s original inhabitants- the native Americans. Their contributions to the development of this country are recognized during November formally as the Native American Heritage Month. President George H. W. Bush declared the month in 1990 in a bill that read in part that the “the President has authorized and requested to call upon 126 l
This was a significant step in honoring America’s tribal people and showed a renewed commitment towards establishing this celebration which had begun some 14 years ago when a Cherokee/Osage Indian named Jerry C. Elliott-High Eagle founded the Native American Awareness week legislation. This was the first historical week of recognition for the Native Americans. In 1986, President Reagan proclaimed November 23-30, 1986, as the “American Indian Week.” The Native American Heritage Month offers us a unique opportunity to celebrate the rich and diverse culture of the Native Americans. It gives us a chance to look into their traditions and histories to understand their way of living and acknowledge the significant contributions they have made. I love cultural months as they give us an opportune time to educate ourselves about the tribes and THE POWER IS NOW MAGAZINE | NOVEMBER 2021
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Rethinking Native American Heritage Month Property Rights
Federal, State, and Local Governments, groups, and organizations and the people of the United States to observe such month with appropriate programs, ceremonies, and activities.”
This is one of the incidents that set a precedent for the government seizure of the Native Land. Today, the 5.2 million Natives in the country are some of the most impoverished ethnic groups- almost twice the national average. Unfortunately, there are a lot of consequences from this deprivation, including high crime rates, high rates of suicide, alcoholism, increased gang membership, and sexual abuse. In fact, suicide has been cited as the second leading cause of death among the Natives aged 10 to 34.
raise general awareness of these communities’ challenges. This way, we can all channel our energy to look for ways through which these communities can be helped. NATIVE AMERICANS IN REAL ESTATE IT’S BAD! Native Americans have fought for their rights to own back their land but to no avail. In 1823, the U.S. Supreme Court ruled against the Native Americans in the case Johnson v. M’Intosh, urging that it “recognized the superior power of the federal government to acquire lands from Indians.” The case began when non-Natives asserted possession over the same lot of land. One of the individuals had acquired the land from the tribes themselves, while the other had received it from the federal government. WWW.THEPOWERISNOW.COM
And let’s talk about these problems for a minute. Alcohol abuse and its effects are more prevalent in Native youths than any other ethnic group in the country regarding alcohol abuse. Regarding gang involvement and membership, these too are more common in Native Americans than among Latinos and African Americans. Cases of sexual abuse are more common among the Native American women who, by the way, report being raped two–and–a–half times as often as the national average. It doesn’t end there! Cases of child abuse among the Natives are twice as high as the national average. However, what’s surprising is that these cases are more pronounced among the natives who live on reservations. The economic deprivation of the Natives results from the long history of violations against them and forced assimilation, war, and mass murder. In addition, it is a direct consequence of the federal
government’s current policies, especially the restrictions on Natives’ property rights. Going by data from 2019, the homeownership rate for the Indians or Alaska Natives was 50.8%, much lower than 73.3% of the non-Hispanic Whites. Despite the many protection measures, many Natives continue to experience hardships, consequently affecting their home buying capacity. Natives on Reservation Cannot Build Equity. Most Natives live on Reservation, and reservation land is held ‘in trust for the Indians by the federal government. Initially, this move was intended to keep the Indians contained in certain places, but over time, the agenda has changed to preserving these lands for the indigenous people. THE CONSEQUENCES ARE VERY MUCH THE SAME- NATIVES CANNOT OWN THE LAND. Therefore, they are incapacitated to build Equity, which means they are being robbed of an opportunity to reap the numerous benefits of homeownership in the long run. What the government is doing is trying to micromanage these communities living on the reservations by sending checks. According to a report by the Cato Institute, Federal funding for the agencies charged with overseeing activities of Natives on reservations (Bureau of Indian Affairs, or BIA, and the Bureau of Indian Education, or BIE) was almost $3 billion in 2012. In addition, about $850 million went to BIE to provide education to approximately 42,000 students l
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even though most students on reservation land do not attend the BIE Schools. This means that each Native child gets about $20,000 compared to the national average of $12,400. The Federal government isn’t the only one offering subsidy programs for the Natives. Many other agencies offer these subsidies, including the Indian Health Service, which set a budget of over $4.6 billion in 2015. Additionally, the Department of Housing and Urban Development’s Native American Housing Block Grant Program has a 2015 budget of $650 million. Still, while checks from the government have increased in recent years, the problems in the Reservation have become worse. One other challenge that many Natives face is in the lending space, where many lenders are not comfortable lending on Native American trust land primarily because most of it is on Reservation. Still, it is important to understand that while providing easier access to homeownership will make it easier for the Natives in reservations, it doesn’t mean that all barriers to homeownership have been eradicated. Natives too have the right to more affordable housing options such as manufactured homes. A good number of homes on the tribal lands are already manufactured, and directing homeownership financing options towards manufactured housing would help bolster the homeownership rates in reservations. Speaking of houses and developments in reservations, the Apsaalooke Warrior Apartments were the first development project on the Reservation in a decade and wouldn’t have been possible were donations from the federal, state, and private stakeholders. Since the development was for the Crow Tribe, its leadership said it owed G+HUD about $3 million. In the 1990s, HUD built most of the homes on the Reservation, and the tribal leadership promised to be making small monthly payments to repay the debt. The tribe was supposed to be making payments between $20 and $30 a month. Since the tribe members refused to pay, the situation on the ground is getting worse by the day. 128 l
HUD has stalled constructions saying that the tribe must pay its debt first. Therefore, currently, homes aren’t being built, and no repairs either; instead, people are moving into smaller trailer homes. This, therefore, means that many adults aged 18-40 don’t have any houses. But, the Crow tribe has no choice-literally. Actually, no one in the reservation lands has a choice simply because they cannot afford a home or build one, which is because of the lender problem I highlighted above. It’s a cycle. The lender doesn’t want to lend to people who don’t actually own lands or land that is communal. The government is the source of this problem. No bank will foreclose a property because the bank can’t own the reservation land. The Bureau of Indian Affairs determines the determination of the fair market value for a piece of property. Still, even though the government is to blame for what is happening in the Native communities in terms of stalled development, we cannot ignore that Natives, too, have been their own worst enemies. Some hold the belief that too much development will be detrimental to their traditions and culture. For example, Winfield Russell of the Northern Cheyenne tribal council said he worries that the development of the land “will undermine or destroy Native culture.” He argues that there is a strong connection between untouched land and the tribe’s spiritual values. And unlike so many other tribes, he says, “we’re still strong here as far as our ceremonial culture and spirit on the reservation. We still have our covenant here.” LET’S TALK LIBERATION OF NATIVES- PROPERTY RIGHTS. Certain reforms have been promoted before, including a stricter ban on the development of natural resources on the Indian land, greater sensitivity towards the Native Culture, and changing football-team names. Well, all these things are positive, we like them… but do you think they are a primary concern for the natives? THE POWER IS NOW MAGAZINE | NOVEMBER 2021
And yes, some of these issues affect youngsters but remember these are people born in poverty, most living with one or no parent. In addition, these are kids exposed to almost all kinds of drugs. When you combine all these factors with the fact that most have few educational options and little hope of employment, it seems ignorant, if not offensive, that they would focus solely on the names of sports teams. These are just minor issues, if not distractions, to keep Natives and other people from knowing the real truth. Which is natives’ need is real property rights. And this is not a dream or something too unrealistic. Some tribes in Canada are already pursuing the First Nations Property Ownership Act, which would effectively create a framework for individual First Nations members to access capital through secure property rights. And this is a good thing because; Individuals of all races would buy and sell the land among themselves without having oversight from the tribal or federal officials. The legislation will help these reserved land become more like cities, and the underlying title would be turned over to a governing entity, and even if the land is sold, it will remain part of that city. This would raise a truly free market. Indeed, First Nations members who want to lease their land would do so without having to seek approval from anybody. Those First Nation Members willing to sell their land would do so freely by selling it to the highest bidder regardless of the race. Natives who don’t want to sell their homes can keep them and borrow against them.
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Such are the reforms that need to be promoted in the United States. But, it is also important to mention that whether this works or not remains a legal question that might be complicated. But it shows a step in the right direction. This November, during the Native American Heritage month, let’s look at the ways to forge a pathway to economic prosperity and community development in the Indian country. Unfortunately, we still have a long way to go before the Natives are guaranteed fair housing opportunities. But, The Power is Now Media is at the forefront of this fight, ensuring that every minority community member has a fair chance. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com. Sources: https://www.theatlantic.com/politics/archive/2016/07/native-americansproperty-rights/492941/ https://www.millionacres.com/real-estate-investing/articles/how-nativeamericans-are-investing-in-real-estate/ https://www.ncai.org/initiatives/native-american-heritage-month https://nativeamericanheritagemonth.gov/ https://en.wikipedia.org/wiki/Native_American_Indian_Heritage_Month https://economictimes.indiatimes.com/nri/nris-in-news/indian-american-realestate-executive-sandeep-mathrani-might-join-donald-trump-admin-meetspresident-elect/articleshow/55679308.cms https://prosperitynow.org/blog/securing-homeownership-native-americans https://housingmatters.urban.org/articles/tribes-are-using-creative-placebased-solutions-increase-homeownership-options https://usafacts.org/articles/homeownership-rates-by-race/ https://virginiarealtors.org/2020/11/12/native-american-homeownership/
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World Epilepsy Day
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orld Epilepsy Day, also known as International Epilepsy Day is a recognized event in the world that celebrates epileptic individuals on the second Monday of February each year. The day is celebrated to primarily raise awareness of epilepsy, discuss what it is, how it can be treated, and how the treatments can reach the people across over 130 countries. Epilepsy is a condition of the neurons that can case seizures. You must have heard of epileptic seizures. The severity of these seizures vary from person to person, and sometimes, it’s untreatable. That’s why it’s important that individuals suffering from it are treated with more love and care. This is one of the reasons the world choose r celebrate World Epilepsy Day. As a caregiver, it’s essential that you learn how to show empathy towards the epileptic, reassuring them that they can live a normal life like every other normal person out there. This can mean a lot to them, especially children. THINGS TO YOU SHOULD DO ON WORLD EPILEPSY DAY • On this day, you should gently remind an epileptic patient to take medication as scheduled, eat well, exercise, and above all, sleep adequately. • They shouldn’t be treated differently or shown excess sympathy. Just like other comorbidity, it can be managed with lifestyle changes. • As a caregiver, join or create support groups
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to meet like minds with similar experiences on how to take care of epileptic patients. Practicing mindfulness and helping the patient to do the same to reduce anxiety and develop a healthy mind. Be their pillar of support at all times. Take care of yourself as much as you take care of the patient.
The ADA protects those with disabilities, including those suffering from epilepsy. The HUD also has a provision for people with disabilities, which means they have equal access to affordable homes like the able ones. Sometimes, getting an apartment can be difficult, which is why you need to reach out to professionals to handle the search. You can reach out to any The Power Is Now agent to get started. ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com. Published by Eric Lawrence Frazier, MBA. References https://www.epilepsy.com/make-difference/public-awareness/internationalepilepsy-day
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
became a national holiday beginning in 1938. The holiday, unlike Memorial Day, is a day meant to celebrate American veterans, living or dead, that sacrificed greatly during the war.
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Armistice Day was originally observed with parades and public meetings and a brief suspension of business beginning at 11.00 a.m. Every November 11, the United States celebrates and pays tribute to our veterans in honour of the eleventh hour of the eleventh month.
VETERAN’S
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Day
eterans Day, also known as Armistice Day, first originated on November 11 1919. It marked the first anniversary of the end of World War 1—known then as “The Great War”, which ended on November 11, 1918. President Wilson on November 11, 1919, proclaimed it as Armistice Day by saying, “To us in America, the reflections of Armistice Day will be filled with solemn pride in the heroism of those who died in the country’s service and with gratitude for victory, both because of the thing from which it has freed us to show her sympathy with peace and justice in the councils of the nations….”
In 1954, President Dwight D. Eisenhower officially changed the holiday’s name from Armistice Day to Veterans Day. In 1971, Veterans Day was moved from November 11 to the fourth of Monday of October after the Uniform Holidays Bill was passed in 1968. The holiday was reverted to November 11 in 1975, by President Gerald Ford. Veterans Day is not a preserve of America—Great Britain, France, Australia and Canada have their version of the day. Their commemoration of veterans happens on or near November 11— Canada has Remembrance Day while Britain has Remembrance Sunday (usually the second Sunday of November). The theme of Veterans Day 2021, “Honoring All Who Served”, is centred on the centennial commemoration of the Tomb of the Unknown Soldier. The Army initially dedicated the tomb located at Arlington National Cemetery on Armistice Day on November 11, 1921. It was commemorated with the burial of a fallen unknown service member in World War I. Over the years, other servicemen have been buried in the tomb.
But it wasn’t until Congress passed a resolution in 1926 for an annual observance that November 11
The 2021 National Veterans Day Poster Contest seeks artwork from artists nationwide. The Veterans Day National Committee annually seeks new design submissions and selects the poster that best commemorates Veterans Day and
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honours America’s heroes. The artwork should look back on centuries of Veterans’ service and sacrifice and what America has learned from its past.
461807 | Office: 800-401-8994 x 703 | Direct: 714361-2105 and start your real estate investment journey or homeownership in safe hands.
Currently, Veterans Day celebrates military men and women that have fallen in battle or are still alive and focuses on the needs of the next generation of Veterans. They are our fathers, brothers, sisters, mothers, family and friends, and they need to be celebrated for their sacrifice and bravery.
ABOUT THE POWER IS NOW MEDIA The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com.
ABOUT ERIC FRAZIER Eric Lawrence Frazier is President and CEO of the Power Is Now Inc. The Power Is Now is a multimedia company specializing in real estate and mortgage education for consumers and real estate professionals on various topics in real estate, lending, economics, and government policy since September 1, 2009. The financial and real estate information is distributed through BlogTalkRadio, iTunes, TuneIn, and other online radio platforms nationwide, as well as online TV and eMagazines. Connect with Eric Frazier DRE 01143484 | NMLS WWW.THEPOWERISNOW.COM
Eric Lawrence Frazier, MBA. President and Founder, The Power Is Now Media Works Cited https://www.va.gov/opa/vetsday/vetdayhistory.asp https://www.military.com/veterans-day https://www.history.com/topics/holidays/veterans-day-facts
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Thanksgiving Day T
hanksgiving Day is an annual national holiday celebrated in the United States to celebrate the harvest from the past year. It is celebrated on the fourth Thursday of November thus, the actual date tends to change every year. The holiday is based on the three-day harvest feast that happened in 1621 between the Pilgrims and the Wampanoag Native Americans. This was considered the first thanksgiving. During the feast, the natives brought deer while the pilgrims brought wild fowls but turkey was later made the meal during this festive holiday. The first time Thanksgiving was celebrated nationally was in 1789 when President George Washington declared it a thanksgiving celebration in honor of the creation of the first United States Constitution. Thanksgiving became an annual tradition among many communities that celebrated it at different months and days. President Abraham Lincoln was the one that made it a federal national holiday. It was in the midst of the civil war when he declared that Thanksgiving would
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be celebrated each November. He was expressing gratitude to God and thanks to the army for emerging successfully from the battle of Gettysburg. He called upon the people to observe the last Thursday of November as a day of thanksgiving and praise making it a national holiday. However, the holiday was briefly moved from the last Thursday of November to the third Thursday of the month during Presidents Franklin D. Roosevelt’s term back in 1939. He wanted to create more shopping days before Christmas to give the economy a boost. This decision was not agreed upon by many hence most people continued celebrating it the last Thursday. In 1941, the president and Congress made the final decision and officially moved the holiday to the last Thursday of November. HOW IS IT OBSERVED Most people travel to go spend time with their families and bountiful meal comprising of turkey, cranberries, bread stuffing, and pumpkin pie are mainly taken as a tradition. Sharing with the less fortunate – Most people go out to the streets and donate food to the homeless.
THE POWER IS NOW MAGAZINE | NOVEMBER 2021
IMPORTANCE OF THANKSGIVING DAY This holiday promotes the spirit of giving as it’s become a tradition for most people in the country to volunteer for those less fortunate by donating their food or time to homeless shelters. This holiday has become one of the biggest symbols for intercultural peace and the sanctity of homes and family. Gratitude is a perfect gift for any occasion. It’s that time of the year again! Sharing a meal with your favorite people or even donating what you have with the less fortunate could go a long way. Be someone else’s reason to be thankful. Sheltering the homeless could be even a perfect way to celebrate the day.Don’t hesitate to consider The Power Is Now Media Inc. as your ideal homeownership partner. Reach out to the CEO, Eric Lawrence Frazier for assistance. The Power Is Now Media Inc. is an advocate for WWW.THEPOWERISNOW.COM
the empowerment of the minority communities all around the United States. We engage in various thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help make your homeownership dream a reality. Go to www.neverrentagain.com and get started today. Eric Lawrence Frazier MBA, Vice President and Mortgage Advisor of First Bank, NMLS 461807. President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com
References: https://www.britannica.com/topic/Thanksgiving-Day https://www.almanac.com/content/when-thanksgiving-day
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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 | NOVEMBER 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.