Weekly Report 2-23

Compare the Benefits of a New to an Existing Home

By Marla Lewis President of the Houston Black Real Estate Association

There are pros and cons to a new construction home or existing home, so the decision may not be that easy as you consider a home purchase. No matter which way you go, you’ll probably end up making tradeoffs. In the end, choose the type of home that makes the most sense for you, your lifestyle and upcoming plans.

From an investment standpoint, it is wise to think about the future when buying. After all, you will be the seller one day and will no doubt want to get the largest possible return on your investment.

What if, for example, a home is one of the first in a new subdivision. As other houses are still being built, shortterm resale of a two-year-old house can be difficult. Given two similar choices in the same neighborhood, most buyers opt for a brand new house as opposed to one that’s been lived in. Additionally, builder incentives can make the new home down the street more attractive to buyers. This typically changes as the neighborhood matures and the builders clear out.

It’s not all about the investment, though. You must live in this home. Central air, large pantries, walk-in closets, multi-car garages, more and bigger bathrooms and other contemporary amenities are more common in newer homes. There are not many 40-year-old homes featuring a master suite with a spa and two walk-in closets.

New homes are also built with infrastructure tailored to modern life – like having more electrical outlets or being pre-wired for security or Internet.

Additionally, there are stricter building codes and

significant advances in construction materials and techniques. These improvements result in safer and more energy efficient homes.

Also, the builder may offer customization options, like color schemes, flooring, kitchen cabinets or appliances, that allow you a degree of personalization. Existing homes were built and designed to someone else’s standard and taste, which is bound to be different from yours.

On the flip side, many older homes have a charm from the period during which they were built. Some sit on larger parcels of land than the lots common in most new subdivisions. You also may find an existing home that has been remodeled in a way that suits your needs perfectly.

Maintenance

Home maintenance comes with homeownership. There is no house that is maintenance- or defect-free – even brand new homes. In fact, it’s not uncommon to find at least one construction defect that must be addressed in a brand new house. So, if you do opt for a new home, make sure you understand the warranty and the process for identifying and fixing problems. As with the purchase

of an existing home, buyers should have a new home inspected by a licensed third party inspector prior to closing.

The neighborhood should be a significant part of your decision. Think about what you value – school district, proximity to your workplace, and day-to-day convenience are common concerns for most people, but your list may vary.

You’ll find that many residential builders acquire large tracts of land (usually far away from downtown areas) and start a subdivision from scratch. It’s more cost-effective to lay infrastructure and build if there are no obstacles. So, if you happen to be partial to large trees lining the streets, an older neighborhood may be more your style.

Some new communities also initially lack services like nearby grocery stores, shopping or other things that you take for granted in established areas.

Moving in

Moving in

If you purchase a home before completion, builder delays or other holdups could prevent you from moving in on schedule. This may end up being no big deal, but if the timing is wrong, you may have to find a temporary solution while the setbacks are resolved. This may mean delaying closing on the sale of your current home, finding a place to rent, staying with friends or family or placing your belongings in storage. These can be particularly challenging during COVID times.

When deciding between a newly built home and existing home, choose based on your family’s needs. A realtor can help you sift through the options. For more information or to find a realtor, visit HAR.com. And please visit www.hbreahouston.org to find out more about the HBREA.

Maintenance

“OPEN”

Signs Take on New Meaning for Small Business Owners

By d-mars.com News Provider

More than a year into the pandemic, the “open” sign in countless online and retail storefronts has evolved into a universal symbol of the grit of small businesses. Tenacious entrepreneurs nationwide made a way to stay open in spite of all the obstacles.

As part of an effort to amplify these inspiring stories, Wells Fargo has commissioned three artists to design custom “open” signs for businesses that persevered and is also pointing entrepreneurs to resources that can help.

Dedicated to showcasing women and diverse voices, illustrator and graphic designer Sophia Yeshi, is paired with Roxtography, a woman-owned business based near the Colville Reservation, outside of Seattle. Owner Roxanne Best shifted from in-person yoga and photography classes to outdoor stand-up paddleboarding classes and photography that embodies her love of nature.

Precision Productions, a new rental music studio, was just about to open its doors when the pandemic hit. Optimistic owner Kasey Phillips, who hails from Trinidad and Tobago, pivoted to a hybrid in-person and virtual studio model, never wavering from his plan to expand the music scene and own his first studio. Taking cues from music while paying homage to Phillips’s Caribbean roots, Korean-born illustrator Deborah Lee, known for her use of bold, vivid colors, is interpreting how Precision Productions made a way to stay open.

“As an artist, it was rewarding to support not just a small business that stayed open in tough economic conditions, but one that’s a platform for creativity,” says Lee.

Writer, illustrator, visual artist and community organizer Gabriela Alemán has a passion for helping combat

food insecurity. With her comics and pop art aesthetic, she’s working to bring the mission of PREP Atlanta to life, which focuses on offering diverse food truck owners and caterers access to a commercial kitchen. During the pandemic, PREP Atlanta was a venue for keeping the city’s restaurant and food industry afloat, including for many Black-owned businesses. Aleman will combine her art with a shared dedication to feeding the community as she depicts PREP Atlanta’s grit.

This project comes on the heels of the July 2020 announcement of the Wells Fargo Open for Business Fund, a roughly $420 million small business recovery effort providing grants to nonprofits that serve small business owners. The fund was created by donating all gross processing fees from Paycheck Protection Program (PPP) loans made in 2020. The company has also committed not to take a profit from the second round of PPP. Overall, the Open for Business Fund is expected to translate into roughly $1 billion in available financing and 7.5 million hours of technical assistance for small business owners, helping them close the gap on rent, utilities and employee pay, while accessing expertise to adapt for the future.

To learn more about available support or to download an artistic “Open” sign, entrepreneurs can visit wellsfargo.com/together.

“Today ‘open’ signs represent much more than they used to, embodying the ingenuity required to pivot in this ever-evolving economy,” says Jenny Flores, head of Small Business Growth Philanthropy at Wells Fargo. “We are inspired every day by small business owners pushing through these tough times, particularly those who have been hard hit. This effort aims to shine a light on stories of resilience so entrepreneurs can learn from each other and seek the resources needed to keep their dreams alive.”

Source: StatePoint

COMMUNITY

Radio One Brings Praise Back to Houston

By d-mars.com News Provider

Radio One Houston is pleased to announce the relaunch of Houston’s Inspiration Station, KROI Praise 92.1 / KMJQ Praise 102.1 HD2. In the late 2000’s and early 2010’s Praise inspired Houstonians through difficult times on the 92.1 radio frequency. Houston’s Inspiration Station is now back on the 92.1 dial with a new and improved signal offering full market coverage in HD broadcasting at 40,000 watts and simulcasting on Praise 102.1 HD2. With inspirational songs and motivational content, Praise is providing a new all-star lineup of gospel greats to Houston.

Houston can now GET UP and enjoy mornings with Erica Campbell, award-winning gospel music singer and reality TV star. Erica Campbell creates a high-energy experience for listeners to start every day in FAITH, with LOVE and having JOY. Get Up! Mornings with Erica Campbell can be heard from 5AM-9AM weekdays.

Keep the faith while working from home with TJ Jackson, an award winning manager, on-air personality, talk show host, public speaker, voice over artist, and community leader. Whether she’s hosting a talk show or music program, voicing commercials, planning or hosting events, TJ gets up in the morning to make life better for someone else. Listen to TJ in the mid-day from 9AM – 2PM weekdays.

"It’s a privilege to re-launch such an uplifting and positive station, especially during these times of uncertainty where people are looking for outlets of love and hope to keep them inspired,” says Radio One Houston's vice president and general manager, Pam McKay.

Pump up your afternoon with The Willie Moore Jr. Show

As a world renowned influencer, Willie is a licensed minister and comedic speaker where many call him “Young America’s Pastor.” Gifted to tell stories, jokes, and share bible-based principles he’s irrationally passionate to #KeepIt100 and tell the #Flat-out truth. Tune into The Willie Moore Jr. Show 2PM-6PM weekdays.

Terri Thomas, operations manager of Radio

One Houston says, “It’s in times like these where people want to escape from today’s challenging realities and listen to music that inspires and makes them feel good.”

Enjoy your evenings with Darlene McCoy. The song “I’m Every Woman” would be the ideal preamble! She bears a plethora of titles in an attempt to define her: mother, national recording artist, radio personality, actress, author, songwriter, mentor, entrepreneur, comedian, and speaker. It is evident that we have not witnessed all that God has placed behind this bright, shining star of a woman. Darlene McCoy can be heard 6PM-10PM weekdays.

The Praise continues every weekend on Saturday with the Spirit Top 15 countdown and shows featuring recording artist Ronnette Rollins, actress Veda Howard, award winners D. Stone and Willie Moore Jr. Plus a Sunday lineup featuring motivational speaker Krystal Lee, evangelist Cheryl Jackson, and singer/songwriter Jermaine Dolly.

Praise 92.1/102.1 HD2 is available streaming online at praisehouston.com and you can praise anywhere by downloading the Praise app from your mobile app store. For inspiring content and good news, follow Praise on all major social media platforms @praisehouston. Business owners, ministries, and local advertisers interested in marketing packages can submit your request to Radio One Houston director of sales, Wayne Jones at waynejones@radio-one. com.

Source: Radio One, An Urban One Company

Photo Credit/Source: (c) Gabriela Alemán