The PIN Magazine August 2017

AUGUST 2017 Vol. 04 | Issue 8

the power is now

magazine

NAREB’S 70TH ANNUAL CONVENTION

WHAT ARE PREDATORY LOANS

COULD ZILLOW “INSTANT” OFFERS AFFECT THE WAY REALTORS SELL HOMES?

ON THE COVER

JEFFREY HICKS

NAREB’S NEW PRESIDENT ELECT

Don’t Miss Out

ANY OF OUR PREVIOUS ISSUES THE PIN MAGAZINE YOUR RESOURCE FOR

REAL ESTATE

the power is now

magazine THE POWER IS NOW INC. Vol. 04 | Issue 8

Eric Lawrence Frazier, MBA President and CEO Office: (800) 401-8994 Ext. 703 Direct: (714) 361-2105 Eric.Frazier@ThePowerIsNow.com www.thepowerisnow.com www.blogtalkradio.com/thepowerisnow

EDITORIAL TEAM Eric Lawrence Frazier MBA Editor in Chief (800) 401-8994 Ext. 703 Goldy Ponce Arratia Managing Editor Graphic Artist and Design Manager (800) 401-8994 ext. 711 goldy.ponce@thepowerisnow.com Kim Collier Executive Director of Publishing (800) 401-8994 ext. 712 kim.collier@thepowerisnow.com

CONTRIBUTORS The Power Is Now Research Team

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the power is now

magazine CEO & Publisher Eric Lawrence Frazier, MBA 3739 6th Street, Riverside, CA 921506 Ph: (800) 401-8994 ext. 703 EDITORIAL Editor in Chief: Eric Lawrence Frazier MBA Managing Editor: Goldy Ponce ONLINE Web Designer: Design Box DESIGN Art Director & Design Manager: Goldy Ponce ADMINISTRATIVE Administrative Assistant: Kendra Gedeon

SALES National Sales Manager: Christina Kimble National Relationship Manager: Success Money HEADQUATERS The Power Is Now Inc. 3739 6th Street Riverside, CA 92506 Ph: (800) 401-8994 Fax: (800) 401-8994 Email: info@thepowerisnow.com www.thepowerisnow.com www.thepinmagazine.com PUBLICATION AND SERVICES The PIN Magazine The Power Is Now Radio The Power Is Now Publications The Power Is Now Radio Guide The Power Is Now VIP Agent Program The Power Is Now Power Consulting/Coaching The Power Is Now Association Management The Power Is Now Event Management

STATEMENT OF COPYRIGHT: The PIN Magazine™ is owned and published electronically by The Power Is Now, Inc. Copyright 2013-2017 The Power Is Now Inc. All rights reserved.

“The PIN Magazine” and distinctive logo are trademarks owned by The Power Is Now, Inc. “ThePINMagazine.com”, is a trademark of The Power Is Now, Inc. “Magazine.thepowerisnow.com”, is a trademark of The Power Is Now, Inc. “Thepowerisnow.com”, is a trademark of The Power Is Now, Inc. “The Power Is Now Event Management”, is a trademark of The Power Is Now, Inc. “The Power Is Now Radio”, is a trademark of The Power Is Now, Inc. “The Power Is Now Publications”, is a trademark of The Power Is Now, Inc. “The Power Is Now Radio Guide”, is a trademark of The Power Is Now, Inc. “The Power Is Now VIP Agent Program”, is a trademark of The Power Is Now, Inc. “The Power IS Now Power Consulting/Coaching”, is a trademark of The Power Is Now, Inc. “The Power Is Now Association Management”, is a trademark of The Power Is Now, Inc. No part of this electronic magazine or website may be reproduced without the written consent of The Power Is Now, Inc. Requests for permission should be directed to: info@thepowerisnow.com

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TABLE OF CONTENTS

30

52

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OUR COVER Jeffrey Hicks, New NAREB’s President Elect

What Is A Green Mortgage?

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august 2017

The First Two Weeks On The Market

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Why “For Sale By Owner” Fails?

26

All You Need To Know About Predatory Loans

34

Minority Homeownership Moves Ups in Q1

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Tools To Find The Worth Of Your Home

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San Francisco ‘s Latest Housing And Commercial Developments

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Short Sales: Real Estate Law and Frauds

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58

International Consumer Fraud And Complaints

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Common Foreclosure Scams to Avoid

66

Best Security Tips to Keeping Your Home Safe While on Vacation

70

Five Ways to Protect Yourself From Identity Theft During a Move

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Real Estate Agents: The Professional Movement

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Evernote: A Great Tool For The Busy Person

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FEATURED STORY NAREB’S 70th Annual Convention

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Zillow Expansion Plans

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Editor’s Letter...

D

ear Esteemed Readers,

Every year, I do my very best to attend the National Association of Real Estate Brokers Convention. I have only missed one in the seven years since I became President of the Orange County Chapter. This year was very special because it was the 70th Annual National Association of Real Estate Brokers (NAREB) Convention, which was held from July 27th to August 2nd, 2017 at the Intercontinental Hotel in New Orleans, Louisiana. The event was spectacular indeed.

NAREB is an organization deeply rooted in real estate history; formed in 1947, it is the oldest national minority trade association in America. I could not have been more proud to

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have represented my chapter and The Power Is Now Inc. One of the things I admire most about NAREB is that although its membership is mostly African Americans, they openly embrace memberships of all different races, colors and nationalities who are real estate professionals and share their vision of equal housing for all. NAREB has been fighting on the front line for housing for 70 years in partnership with the NAACP, The Urban League and The Congressional Black Caucus.

I am very proud of our former president Ron Cooper, who not only set new records in raising capital for NAREB (over $1.5 million), but is also the reason and vision behind NAREB’s goal of putting two

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million families into homes over the next five years. NAREB will achieve the goal because of President’s Cooper very fast run on the first leg of this 2m5 relay. President Cooper has delivered a smooth handoff of the baton to President Jeffery Hicks, who is off and running with maximum speed and a lot of heart.

President Hick just had open heart surgery three months ago, and he is already back on the job.

President Hicks announce the collaboration with the Southern Baptist Convention to help us achieve our goal of 2m5. They have over 7.5 million members and could singlehandedly achieve the goal. In fact, their participation and other large faith-based organizations that will be joining NAREB may cause us to blow the goal out of the water. I hope so, because the goal is looking too

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small for me right now. I am more confident now than I have ever been that NAREB can achieve the goal. I am feeling that presidential RC Cooper confidence that our past president is known and respected for.

The weekend was a game changer for The Power Is Now, and I cannot wait to implement some of the exciting things I experienced over the four days I was in New Orleans. I also immensely enjoyed connecting with many Realtors from all over the United States. These enlightening conversations sparked future working relationships that I am very excited to start as the Power Is Now expands across the country. On Tuesday night, The Power Is Now held a reception with over 75 real estate agents in attendance. Lisa and I revealed our plans to expand our business operations across the States

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over the next four months. The response to the announcement was extremely gratifying and exciting. Many agents expressed their interest and desire to join The Power Is Now movement across the county. We are ready to take this to the next level.

On the cover of this month’s issue is the new president of NAREB, Jerry Hicks. I had the pleasure of meeting and talking to our new president, and when I tell you he is the man for this job, let me just say, you are in store for some amazing new developments from Mr. Hicks. His leadership and organizational skills are going to benefit NAREB and all of us as Realtist.

If you did not have a chance to make it down to the convention this year, we will be recapping and sharing our Facebook live videos on our page all month long. You can believe that the momentum of this event will continue through the month of August and then some.

Along with our recap of the NAREB convention inside this August issue, we are also bringing you relevant real estate news and information that can help you grow as an agent and keep you on the cutting edge of this fast-changing industry.

This month has already started off with a bang, and I cannot wait to keep it going. So if you are in Oakland on August 20th, please join me as I cohost with our own Charlene Neely, City Managing Broker for The Power Is Now Real Estate Services Berkeley and Oakland California. Charlene and I will be conducting a Homebuyer’s Workshop at All Faiths Church in Oakland, CA. The workshop is free, and we will be discussing everything about zero down payment home loans. This is an event you do not want to miss, especially if you are a first-time homebuyer. For information regarding all our events and programs, visit us here:

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http://thepowerisnow.com/events/ Lastly, thank you for your continued support and readership. Our team is dedicated to you. We want the best from you, so we are dedicated to bringing the best of us. Please take a moment and share this magazine. Knowledge is power, and The Power Is Now.

Eric Lawrence Frazier,

MBA

CEO The Power Is Now Inc.

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Helping you achieve the American dream of homeownership!

1

THE POWER IS NOW MAGAZINE Find industry insights and professionals sharing important information in our monthly magazine

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FACEBOOK LIVE EVENTS Find useful information about the industry every Tuesday Night at 7:30 PM live on facebook

CALL ME FOR DETAILS ERIC LAWRENCE FRAZIER MBA

CA BRE: 01143484 | NMLS 461807 The Power Is Now Inc. CA BRE: 1980407 | NMLS 1435243

The Power is Now, Inc. is a nationwide, real estate professional, and community-based multimedia and education company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. The Online Radio Talk Show, Magazine, TV and events are supported by numerous national and state real estate associations and provides weekly real estate related content to millions of real estate agents and consumers throughout the United States online and by teleconference. The Power Is Now Inc., is also an mortgage brokerage licensed by the state of California, CAL BRE MLO/NMLS License #1435243, and a real estate broketage CAL BRE 01980407 and is not affiliated with any state or federal agency. The Power Is Now Inc., corporate office is located at 3739 6th Street Riverside, CA 92501. Telephone/Fax: 800401-8994. Eric Frazier, is California Licensed Loan Originator NMLS# 461807, and a Real Estate Broker #O1148434.

We have a membership for everyone.

From the Buyer and Seller to the Professional Agent and Broker.

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

The Power Is Now Mortgage Services is a Mortgage Brokerage licensed by the State of California Bureau of Real Estate (license #1980407) and the National Mortgage License System and Registry (license #1435243), and is a division of The Power Is Now Inc. (license # 01980407). The Power Is Now Inc. is not affiliated with any state or federal agency. The Power Is Now Real Estate Services is also licensed by the State of California Bureau of Real Estate (licensed #01980407), and is a division of The Power Is Now Inc. The Power Is Now Inc., is an equal housing lender.Our corporate office is located at 3739 6th Street Riverside, CA 92501. Our Telephone and Fax number is 800-401-8994. Eric Lawrence Frazier MBA, is a California licensed Loan Originator (NMLS license # 461807), and a licensed Real Estate Broker (CA Bureau of Real Estate license #01143484). Restrictions may apply to all loan programs. The Information and/or data is subject to change without notice. All loans are subject to credit approval. The information presented is not a commitment to lend or extend credit. Not all loans or products are available in all states. The Power Is Now Mortgage Services and Real Estate Services are A Division of The Power Is Now Inc., and are only licensed to conduct business in the State of California.

NAREB’S 70TH ANNUAL CONVENTION

T

his year marked the 70th Annual National Association of Real Estate Brokers (NAREB) Convention, which was held from July 27th to August 2nd, 2017 at the Intercontinental Hotel in New Orleans, Louisiana. NAREB was formed in 1947, making it the oldest national minority trade association in the United States.

NAREB members are called REALTISTS®, a designation established by its members when non-white realtors could not join a Realtor organization. Although the organization is comprised primarily of black real estate professionals, NAREB invites and embraces membership of all real estate professionals who are committed to achieving NAREB’s vision of “Democracy in Housing” regardless of their race, color, or nationality.

NAREB’s Annual Convention is one of its signature events and brings together

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NAREB members, NAREB affiliates, industry partners, policy makers, thought leaders, and community and professional development experts who embody a spirit of community and commitment to “Building Black Wealth through Homeownership,” this year’s annual convention theme. The Convention provided a forum for its members to engage in the exchange of ideas, best practices, strategies, innovations, and resources that promote and strengthen the organization’s mission, which has been expanded to include a goal-oriented focus on “economic development.”

The Convention was a resounding success, with a record-breaking attendance of over 600 REALTISTS®, who participated in a variety of empowering workshops, from “Getting Your Business Government-Ready” to “How Diversity

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and Inclusion Programs Can Increase Black Homeownership.” Highlights of the Convention included the NAREB Affiliates and Emerging Leaders Reception, the Prayer Breakfast, and the 70th Annual Opening Ceremony and Celebration. The most highlighted event was the 70th Installation and Awards Gala, where NAREB’s President, Ron Cooper, was honored for his extraordinary two years of service, his funds development of over $1.5 million, and his powerful initiative of Two Million Black Homeowners in Five Years. The grand finale was the inauguration and honoring of NAREB’s distinguished new President, Jeffrey Hicks, an Atlanta, Georgia native and a Broker of Apollo Associates Realty.

The Power Is NowTM is proud to have been a part of it all in New Orleans, and enjoyed connecting with REALTISTS® during the Convention at our first Exclusive “The Power Is NowTM Reception.” Eric Frazier, Founder and President, announced The Power Is NowTM expansion to several new states over the next four months, which created momentum for anticipation and partnership. If you are interested in learning more about our expansion and would like to be a part of The Power Is NowTM movement, contact Eric Frazier at Eric.Frazier@thepowerisnow.com. A special thanks to all who attended. We look forward to great things ahead!

Lisa Niel, MBA Vice President, Sales & Operations

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IN GREEN

INCENTIVES FOR GREEN RENOVATION

A

ccording to a study done in Canada between 2011-2016, the Canadian government decided to invest $195 million in starting an Eco ENERGY Efficiency Program so as to improve energy efficiency in Canada. The aim of this program is to develop clean energy solutions for the country as part of the green revolution.

Green Revolution You may be wondering why everyone is talking about green. Several governments are giving incentives and utilities to make sure that every homeowner moves to green. Green refers to energy-efficient, sustainable power.

The American Recovery and Reinvestment Act (ARRA), which was passed in 2009, set aside billions of dollars to ensure green-building projects are raised, renewable energy is increased, and energy efficiency programs are promoted.

Nearly $9 billion was channeled to renovate and repair schools so that they can meet the set standards of a green-building program, while $3.95 billion was set aside for green job training, according to Architect Magazine.

Now you should be convinced that the U.S.

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government is taking the green revolution seriously. But what are you doing in your area?

You might be shocked to know that there is an incentive that your government has provided for you so as to join the rest in the green revolution.

Incentives for the Green Revolution Incentives that are offered by the government depend on the region and the state you are in. Some of the incentives that you should look out for include:

1. Residential Renovation and Retrofits Some of the incentives under this category include: a. Fortis BC – If you are renovating your home, you might enjoy an incentive of about $1,500 for installing ENERGY STAR heat pumps, windows or insulation. If you happen to replace your old water heater with an ENERGY STAR water heater, you might enjoy an incentive of $1,000. b. BC Hydro Fridge Buyback Program – BC Hydro gives you $30 for your old refrigerator. c. Water Meter Program – You may be paid for installing a water meter so as to conserve water.

of $16,000 at a lower fixed rate of 4.7% for over 10 years. f. Credit Union Home Energy Loan – It helps you make renovations to your home to make it more energy efficient.

2. Construction

of

New

Residential

Homes Some of the incentives include: a. Power Smart New Home Program – This program encourages you to build your residential home with an energy-efficient design. b. Energy Efficient Mortgage Loan Insurance Refund – You may enjoy a 10% deduction when purchasing or renovating an energy-efficient home.

3. Introducing Multi-Unit Residential

Buildings Incentives that you will enjoy in this category depend on the building that you are building. For example: a. New commercial and industrial constructions b. Commercial

d. Water Conservation Program – It tries to reduce the amount of water you use by introducing practices that lead to water efficiency. e. Home Energy Loan Program – This program is for you and other homeowners in Vancouver, where you can borrow an average

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buildings that are to be renovated c. Charitable organizations d. Non-profit organizations e. Government buildings All these buildings come with their own set of incentives, and you can visit the Environmental and Resources website of your country to view the incentives.

4. Green Financial Services If you are buying or renovating an energy efficient home, you will enjoy an Energy Efficient Mortgage Loan insurance refund.

• 203K Mortgage – Allows you to have a loan to renovate the property you are buying.

These are just a few of the incentives that are found in Canada and the United States.

Likely, most of them can be found in your state or country. Be a part of the green revolution so that you can help conserve our planet.

References •

www.bcrea.bc.ca

•

www.totalmortgage.com

•

www.architectmagazine.com

Other incentives include: • Energy Improvement Mortgage – This enables you to make changes and upgrade your purchased home to green level. This upgrade may involve installing double-paned windows, tankless water heaters, and better insulation.

You will use utility bills rather than paying down payments.

• Federal Housing Administration (FHA) EEMs – It gives you a loan so that you can buy or improve your home to meet Energy Efficient Mortgage standards.

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IN GREEN

WHAT IS A

GREN MORTGAGE? A

ccording to a survey performed in October 2009

by EnerQuality Green Building, 40% of home buyers in Ontario State had no problem paying an additional $10,000 to buy a “green home.” This was an 18% increase in the demand for green mortgages compared to 2008.

This should tell you that the demand for efficient homes is on the rise, which definitely calls for improved construction practices of residential homes. That’s why you should be aware of the Energy Efficient Mortgage,

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commonly called the Green Mortgage.

What is a Green Mortgage?

With a Green Mortgage, you are given credit that qualifies your existing home or new home or helps you have a home that meets the set guidelines of energy efficiency. A Green Mortgage can save you money through tax incentives that you are given to enable your home to become energy efficient. The aim of this mortgage is to help conserve the environment.

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to be aware that you will be required to fill out Energy Addendum and Energy Audit forms for your Green Mortgage. These extra steps may lead to your Energy Efficient Mortgage taking longer to be processed.

Nevertheless, an experienced and qualified Green Mortgage officer should give you the direction necessary to help speed up the process.

The whole process should not take you more than two days, including the energy auditor’s report.

Who qualifies to take out an Energy Efficient Mortgage? A Green Mortgage can be taken by anyone who qualifies for other regular loans. However, your qualified loan officer will review your application so as to guide you regarding which mortgage program best suits you.

Basic Energy Mortgage facts

Efficient

Your lending institution should have plans concerning Green Mortgages, and it is good to consult them before thinking of taking such a mortgage. Since there is not much difference between a Green Mortgage and a traditional mortgage, you should not pay a higher interest rate or any additional costs.

Green Mortgage Process However, it is good for you

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Kinds of Green Mortgage • Veterans Administration EEM This EEM version is only used when refinancing your home. You can borrow up to $6,000 to upgrade Energy Efficiency in your home only when your energy cost savings are up to $3,000.

qualify for an average of 33% of your debt to income ratio. You can borrow up to 5% of the appraised value of your home. It is not powerful like a conventional EEM; however, you enjoy FHA financing benefits.

• Conventional EEM This is the most commonly used, and the most effective in the market. You can borrow an average of 15% of the appraised value of your home.

Importance of Green Mortgage According to an Appraisal Journal study performed in 1999, a $1 decrease in annual energy costs leads to a $20 increase in the value of your home. This should tell you that the more you decrease your energy costs by adopting a Green Mortgage, the more your home value appreciates.

Some of the benefits of Energy Efficient Mortgage include: • Reduces your bills, saving you money • Enables you to qualify for a more expensive home

• Federal Housing Administration EEM

• Conserves environment

your

According to the update on the HUD website, you

• Gives you heat in the winter and cools in the

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summer, making it more comfortable • Simple to maintain • Helps you get money to upgrade your energy efficiency

Conclusion: In conclusion, adopting an Energy Efficient Mortgage should be your priority if you are living in areas where there is extreme weather. By having an EEM, you will enjoy having control over your environment and your bills, and will enjoy a secured future. While this article acts as your guide to understanding Green Mortgages, you can always do more research or visit your bank for more details and actualization of the Mortgage.

References

The power is now Magazine

•

www.mortgageloan.com/environment

•

www.greenmortgagecompany.com/green

•

www.gogreenacademy.com

august 2017

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LEADERS WANTED!

“

We make the American Dream of Homeownership a Reality

1.

We pay the Highest Commissions for Buyers agent than any other real estate firm in California. Our buyer’s agents keep 100% of the commission on transactions where the buyer has been preapproved and funded by the Power Is Now Mortgage Services[1]. Here are additional benefits:

� No E&O fee � No admin fee � No broker fee � No monthly desk fee � No copy or print fee � No franchise fee � No Transaction Coordination � No nickel and dime fees � No gimmicks, no tricks, no games � Just Bring us the buyer and you can keep all the commissions

1] Listing and buyer’s agents can recommend only and not require their buyers to use The Power Is Now Mortgage Services for financing. Most buyer’s agents assist their buyers with finding a mortgage lender and will recommend lenders. Most buyers will follow their agent’s recommendations. If our agent’s buyer chooses to use their own mortgage provider then a standard commission split will apply.

Call me for details: ERIC FRAZIER, MBA President & CEO Direct: (714) 361-2105 Office: 800-401-8994 ext. 701 Email: eric.frazier@thepowerisnow.com Website: www.thepowerisnow.com

2.

Free Marketing Support:

� Free Adverting In our National Magazine call The Power Is Now Magazine

� Free ghostwriting for your Blog and magazine article written monthly about your market area

� Free Social media management for Facebook, Instagram, Pinterest and Twitter

� Free Biographical interview on BlogTalkRadio, and unlimied subject matter interviews

� Free unlimited video production on TPIN Online TV to teach or market real estate in your market area

� Free Participation in our weekly Online Homebuyer Seminar to build your buyers pool

� Free support for Live Homebuyer Seminars in partnership with non-profit organizations

� Free Website IDX and online transaction/CRM � � � �

management Free Coaching and Business Planning Free Lead management and follow up support Free Online & In house Transaction Management Fee Business Cards (first 250)

3.

Territory Management - Exclusivity:

� Exclusive areas/territories for all agents. Once an area is assigned a territory it is permanently close unless the agent leaves the company. � Exclusive Management opportunities for Brokers for California Counties and Cities. � Unmatched compensation model for managers and directors. � Teams are welcome and can maximize their income with 100% of the GCI.

The Power Is Now Mortgage Services is a Mortgage Brokerage licensed by the State of California Bureau of Real Estate (license #1980407) and the National Mortgage License System and Registry (license #1435243), and is a division of The Power Is Now Inc. (license # 01980407). The Power Is Now Inc. is not affiliated with any state or federal agency. The Power Is Now Real Estate Services is also licensed by the State of California Bureau of Real Estate (licensed #01980407), and is a division of The Power Is Now Inc. The Power Is Now Inc., is an equal housing lender. Our corporate office is located at 3739 6th Street Riverside, CA 92501. Our Telephone and Fax number is 800-401-8994. Eric Lawrence Frazier MBA, is a California licensed Loan Originator (NMLS license # 461807), and a licensed Real Estate Broker (CA Bureau of Real Estate license #01143484). Restrictions may apply to all loan programs. The Information and/or data is subject to change without notice. All loans are subject to credit approval. The information presented is not a commitment to lend or extend credit. Not all loans or products are available in all states. The Power Is Now Mortgage Services and Real Estate Services are A Division of The Power Is Now Inc., and are only licensed to conduct business in the State of California.

IN ECONOMICS

WHY

FOR SALE BY OWNER

FAILS

A

ccording to a survey performed

by Google in partnership with the National Association of Realtors, 90% of homebuyers use the internet to find or buy their homes. As a matter of fact, online real estate searches have grown by 253% over the last four years.

• Online adverts: 10%

What should that tell you? If you are using For Sale by Owner, you may not be marketing your home efficiently. That’s why you should list your property online.

• Selling at the optimal price: 18%

For Sale by Owner Statistics Statistics from a 2015 NAR study shows that only 8% listed homes in the U.S. are sold by owner. Those homeowners use the following methods to sell their home: • Close friends and relatives: 21% • Their website: 7%

• Yard sign: 33% • Open house: 21% And these are the most difficult tasks for owners choosing to sell their own home:

• Preparing their home for sale: 13% • Filling out paperwork: 12% • Having enough hours to attend to all the roles: 3% In the end, over 80% of FSBOs hire a realtor after failing to sell their own home.

These statistics should enable you to see why For Sale by Owner often fails, and give you pause before heading in that direction. However, many FSBOs give two main reasons for choosing to go that route: to save money and because they feel they do not need expert help.

• Direct mail: 2% • Social media: 9%

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Why Most FSBO’s Become Unsuccessful Who does not like saving a few dollars? A real estate agent’s commission may be a bit high, and you might be tempted to go the route of FSBO. However, just like many who have tried and failed before, you may be unsuccessful. Some of the reasons that will make you fail include: 1. Failure to recognize potential buyers You may not know the difference between those buyers who are supposed to be preapproved and those who are to be prequalified. This will result in you letting unqualified buyers waste your time on inspections.

2. Failure to understand contract procedures You may not be aware of the procedures that are involved in buying a house, which may make you agree even to things you do not really understand. Interpreting some clauses in the law may be difficult

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for you, and you will need the help of an expert.

3. Lack of understanding of “golden time” Golden time refers to the concept that you are most likely to sell your house in the first weeks after it goes up for sale. The more time it spends on the market, the less you will earn. This means that when you are selling your home with enlisting an agent and the home has been on the market for a while, it may not sell even with an agent’s help.

4. Poor preparation of the home for selling You may fail terribly if you fail to paint your house, replace broken panes, update outdated fixtures, clean the carpets, and perform necessary repairs.

5. Poor handling of the inspection findings You may have replaced and updated everything in your house, but your buyer may still notice a problem during

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inspection and request that it be fixed. If you decide that your home is up to par, you risk losing the sale.

6. Lack of exposure of your home Most people buy what they see. If you fail to put your home on a website, you deny some potential buyers the chance to bid on your home. Remember, the ma jority of buyers are doing an online search before their purchase.

the whole home inspection process take the stipulated time, reviewing the title work, contracts have been approved by the attorney and ensure your buyer has got his mortgage commitment. However, it is good you hand over your home to an agent to sell on your behalf.

References

7. Setting the price too high

• www.owners.com

8. Lack of experience in dealing with many people In this case, you need an expert in real estate who is used to multitasking and working under pressure.

• www.statisticbrain.com • www.nar.realtor/field-guides/field-guideto-quick-real-estate-statictics • www.inman.com • www.maxrealestateexposure.com

Conclusion: In conclusion, as a FSBO, you should know how to close the whole process by ensuring

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IN ECONOMICS

ALL YOU NEED TO KNOW ABOUT

PREDATORY LOANS H

Have you ever been manipulated or convinced to buy something, and after buying you realized it was fraud or a fake? How did you feel? It must have felt awful. You are not alone. Some have had that awful experience with their finances.

According to the Coalition for Responsible Lending, borrowers in the United States lose $9.1 billion every year to predatory loaning practices. It has further discovered that knowing the terms of your loan and credit is more important than denying credit itself.

According to ABC News in Charlottesville, a man from Virginia visited Associates First Capital office to get a loan to buy some groceries. He ended up being manipulated into taking 11 transactions that refinanced at an interest rate of 19%, resulting in a $50,000 mortgage after 4 years. He could not afford it. That should show you what predatory loans are capable of doing.

What is a Predatory Loan?

Most qualified mortgage dealers are honest and conduct their transactions with integrity. Nevertheless, you should know that not all of them are genuine and some aim at misusing your money causing financial ruin.

Predatory lending is any loan practice that involves imposing unfair or abusive lending terms on you. It may also be a practice that manipulates and convinces you to agree to unfair terms of a loan that you do not want through deception or exploitative actions.

A predatory lender will force you to take a loan that you do not need

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$ $$ $$ or cannot afford, as in the case of the man from Virginia.

especially your mortgage. Otherwise, you may be left homeless and in unmanageable debts.

Targets of Predatory Lenders You may have noticed that lending institutions could take advantage of you if you did not have adequate knowledge of finances, loans, and the terms that accompany the loan. Dishonest lenders mostly prey on the illiterate, poor, minority, and elderly.

You should also be aware that they may target you when you have an emergency and are in need of immediate cash. Always keep enough cash on hand to cover bills like rent, water, electricity, and medical – otherwise, you might find yourself in the hands of predatory lenders.

These lenders may also target you when you have lost your job and are experiencing credit problems. Recently, they have been successful in home mortgages, where they make profits on both the interest and on selling the home if you are not able to pay the loan.

You may wonder why predatory lending practices are not illegal, especially if they have caused damage to you or your friends. The fact is that many of them are registered as financial institutions with the U.S. government and therefore what they do is considered legal. The best thing you can do is accumulate enough understanding of every loan you are taking –

www.thepinmagazine.com

Common Dishonest Lending Practices It can be hard to determine precisely what these dishonest lending practices are.

However, a number of the following practices are often associated with predatory practices.

1. Inadequate or false disclosure – the lender may hide information from you about the terms, costs, and risks associated with the loan. They may also change the terms you had entered initially.

2. They inflate charges and fees – the lender may hide the appraisal and preparation fees from you 3. Charging very high interest rates 4. Loan flipping – they encourage you to increase the amount of the loan 5. Balloon mortgages – the lender’s terms may include constantly increasing rates, and the lender will attempt to convince you to refinance your mortgage 6. Prepayment penalties 7. Loan packing

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Avoid Falling into the Hands of Predatory Lenders In addition to educating yourself, ensure: 1. You avoid being rushed to signing papers; do not sign if you do not agree with the terms 2. You question any high interest rates; do not allow loan packing

References • www.resposiblelending.org • m.mortgage101.com • d f i . w a . g o v / f i n a n c i a l - e d u c a t i o n / information/predatory-lending • www.debt.org/credit/preditory-lending/ • www.usa.gov/mortgages

3. You read loan documents properly and do not sign blank spaces 4. You know the licensed lenders 5. You are aware of the loan you can qualify for

To avoid being lied to, ensure you stay upto-date on loan issues. That is the first line of defense against predatory lenders and their deceptive ways of stealing your hard-earned money.

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IN FINANCES

THE FIRST 2 WEEKS

ON THE MARKET

T

he first two weeks on the market are the most critical weeks for your listing. Brokers share home listings of their clients with other brokers under the Multiple Listing Service (MLS). Your agent or broker will make the new MLS listings available to other members within hours of signing the listing agreement with you.

The most amount of traffic and showings for a house is received in the first two weeks after it is listed. This gives sellers the greatest chance to sell their homes; hence, this is the best opportunity that sellers get to sell their homes.

It is likely that you will get

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the best offer within the first two weeks of listing your home. This is the time that everyone takes notice of the new listing on the block. When your home comes on the market, serious buyers will try to schedule an appointment before it is gone. In such a scenario, sellers gain the upper hand in negotiations.

Key Events for Marketing Your Home for Sale

• Your home is entered in the MLS system. Include showing instructions,

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as it enables agents to bring their buyers to see the home.

While you prepare the listing for marketing, your agent will contact buyers and other agents to inform them about the listing.

• Data such as neighbourhood information, satellite images, mapping, local schools, and other relevant data is added to the listing. This enables buyers to get a complete picture of your home and its neighbourhood.

• The agent takes photos and videos of your home so that they are able to market it better. If you want to highlight specific areas of your home, you can seek professional help by hiring a photographer. The unique features of the home are showcased so that genuine buyers are attracted to it.

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• Your agent schedules the home on MLS and asks other agents for feedback.

Other agents who see your home in person will be able to highlight its features in a better manner. Homes that are ready to move in sell faster and attract a better price.

• The agent advertises your home in local magazines and newspapers. Buyers keen on buying a home in the price range listed by you will show interest.

• One of the important things that you need to remember is that if you do not get too many offers or showings, it may mean that the listing is facing tough competition from other homes listed on the market.

•

within the first two weeks of listing, it is advisable to contact your agent. You may be able to make changes, such as to the photos or videos, to make your listing more appealing.

• Always give your home a little more time before you decide to adjust the price range. If it is a buyer’s market with many homes to sell, buyers will need more time to decide.

Avoid taking chances when you are marketing your home for sale. The best chance of selling is when the listing is new on the market. If you overprice or underprepare your home for the market, you will lose your greatest advantage.

If there are no showings

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“

We make the American Dream of Homeownership a Reality

We pay the Highest Commissions for Buyers agent than any other real estate firm in California. Our buyer’s agents keep 100% of the commission on transactions where the buyer has been preapproved and funded by the Power Is Now Mortgage Services[1]. In addition, there is no:

� No E&O fee � No admin fee � No processing fee � No desk fee � No monthly fee � No copy or print fee � No franchise fee � No transaction coordination � No nickel and dime fees � No gimmicks, no tricks, no games � Bring us the buyer. Keep the commissions

”

We are seeking LEADERS! Licensed Real Estate Agents who posses a winning spirit.

At The Power Is Now Real Estate Services, YOU are a VIP and we treat you as such by offering you:

� Exclusive VIP Agent Marketing Package worth thousands of dollars.

� Exclusive Assigned Territory. � Full broker support from your local managing Broker.

� Free website with IDX technology. � Free CRM, cloud-based file management system, digital signature program.

� Lead and Lead Generation Sources. � The Freedom to run your business as you see fit.

Call me for details: ANITA JONES-CAYENNE Director of Real Estate Services Direct: 510-681-4147 Office: 800-401-8994 ext. 707 Email: anita.jones@thepowerisnow.com Website: www.thepowerisnowrealestateservices.com

CALL ME TODAY FOR AN INTERVIEW!

[1] Listing and buyer’s agent can only recommend The Power Is Now Mortgage Services to the buyer’s agents. Most buyer’s agent assists their buyers with finding financing and recommend lenders. Most buyers will follow their agent’s recommendation. If our agent’s buyer chooses to use another lender then a standard commission split will apply.

REAL ESTATE SERVICES - CA

The Power Is Now Mortgage Services is a Mortgage Brokerage licensed by the State of California Bureau of Real Estate (license #1980407) and the National Mortgage License System and Registry (license #1435243), and is a division of The Power Is Now Inc. (license # 01980407). The Power Is Now Inc. is not affiliated with any state or federal agency. The Power Is Now Real Estate Services is also licensed by the State of California Bureau of Real Estate (licensed #01980407), and is a division of The Power Is Now Inc. The Power Is Now Inc., is an equal housing lender.

Our corporate office is located at 3739 6th Street Riverside, CA 92501. Our Telephone and Fax number is 800-401-8994. Eric Lawrence Frazier MBA, is a California licensed Loan Originator (NMLS license # 461807), and a licensed Real Estate Broker (CA Bureau of Real Estate license #01143484). Restrictions may apply to all loan programs. The Information and/or data is subject to change without notice. All loans are subject to credit approval. The information presented is not a commitment to lend or extend credit. Not all loans or products are available in all states.

The Power Is Now Mortgage Services and Real Estate Services are A Division of The Power Is Now Inc., and are only licensed to conduct business in the State of California.

IN FINANCES

MINORITY HOMEOWNERSHIP

MOVES UP IN Q1 E

ven though the national homeownership rate did not see much movement from its 50-year lows in Q1, the rates for Hispanics and African Americans has seen an upward trend.

Last year, the homeownership rates for black households fell to their lowest levels since the Civil Rights era. The rise of 1.2 percentage points compared to last year is significant.

This means that in the first quarter of 2017, the rate is 42.17%.

The homeownership rates for Hispanics also saw an increase of 1.3 percentage points over the same period. This means that is has risen to 46.6%, as per the latest data.

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The overall homeownership rate in the U.S. rose by just 10 basis points over the same period, to 63.6% at the end of the first quarter.

Of course, it may take at least a couple more quarters to say that this is a positive trend for minority homeownership. In spite of the upward trend, the homeownership levels for minorities is still near record lows.

Homeownership rates across America are at a record low, almost precisely where they were in the ‘60s. Homeownership is important for lower- and middle-class Americans to build wealth. The government needs to do more to promote this so that these often left-behind demographics are able to own homes.

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Healthy Ownership Rates Housing analysts avoid trying to come up with a number on what constitutes a healthy homeownership rate.

The number is influenced by several factors, including: •

Population

•

Age demographics

One of the disturbing facts about homeownership is that there is a wide gap between the white ownership rate and that of minorities (Hispanics and African Americans).

Increasing minority homeownership is important to build wealth in the Hispanic and African

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American communities.

The minority communities had suffered disproportionately during the housing crash and subprime mortgage crisis. The goal is to add at least two million black homeowners within the next five years and boost Hispanic homeownership by 50%.

Hispanic homeownership rates have seen an increase over the past year due to age demographics and higher wages. They are beginning to buy homes at a much earlier age. The median age of a Hispanic is 28. They place a lot of value on homeownership,

and this means that they are looking to buy a home as early as possible.

One of the important things that needs to be remembered when discussing homeownership for minority communities is that they often find it harder to qualify for a mortgage.

The other aspect that needs to be given thought is that the housing market has low inventories for sale.

This makes it really hard to find affordable homes in the market. The lack of inventory can present a big barrier for minority homeownership.

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IN COVER

JEFFREY HICKS

NAREB’s president

T

he National Associate of Real Estate Brokers is an influential platform that provides opportunities to budding estate brokers and agents. To create a possible future where you can rightfully earn and gain experience, this body needs a leader: one who can lead the people to make this association a better place and worth the attention it receives, and one who can change the way people think of this platform and inspire them to work better and strive harder to provide their customers their best.

A brief look at NAREB’s History NAREB has a long history which molded its future. Formed in 1947, its main purpose was to provide African-American real estate brokers and professionals an opportunity to define themselves in the business of real estate. The aim remains the same, but is more focused on economic opportunities than civil rights in America.

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Considering the history of NAREB and its noble aim for economic growth, what would you want in a leader who can lead such a great foundation?

Who is Jeffrey Hicks Jeffrey Hicks is worthy of leading NAREB. He started his career in the flourishing stage of 1995, when real estate prices started to climb. He became an Associate Broker with Apollo Associate Realty and worked hard to achieve his goals. This era provided an excellent opportunity for him to work, and as real estate prices were climbing, he exploited the opportunity well.

You do not have to trust these words or be convinced by them. Take his 22 years of experience as a guarantee of his leadership.

In these years, he specialized in serving the needs of REO suppliers, their business, BPO training, and market analysis. Such excellent service and professionalism impressed his

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clients, which led to his success. In terms of behavior, his attitude and response towards his colleagues and clients can be best described as exceptional.

Due to his successful career, Jeffrey was chosen as the president of Empire Board of Realtists in 2009, a position which he held for two years. During these years, the board lived up to its motto, “The Future is Ours!”, and was more successful than ever in its years of existence.

His triumph in career was also seen when he won the Fannie Mae awards for Most Accurate Broker in Southeast Region in Providing BPO Value to Actual Sales Price. Realizing his expertise and experience was invaluable, he decided to conduct BPO training classes in his home state of Georgia as well as across the country.

He graduated from Georgia State University with a degree in Marketing and attended J. Mack Robinson College of Business. This proves that he was passionate and determined about his work and his future, which combined with hard work and patience resulted in his successful career.

Pondering over his career history and unparalleled experience in his line of work, NAREB committee elected him to be the second vice president of the association, which further proves his eligibility to become the president of NAREB and to take this association to the heights of success. Because of his acute sense of responsibility and trustworthiness, he was entrusted with the responsibility of the Education, Technology, Constitution & By-Laws, Grievance & Arbitration, and Budget & Finance national committees, and has oversight of seven states in the Southeast Region: Kentucky, Tennessee, Alabama, Georgia, North Carolina, South Carolina, and Florida.

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In conclusion, take the words of his clients who he served with his best experience as proof of his leadership,

““

august 2017

Once you are an anointed leader with mutual respect for other people opinion, capability and patience you will always accomplish set goals; that is Jeffrey Hicks. He is full of energy and knows where he came from and where he is going. We have not seen anything yet because his leadership in EMPIRE BOARD will propel him to future greatness.

Another such client attested his capabilities and talent of leadership by saying, Jeffrey has proven to be a leader that has a heart for his members! He is always thinking of ways to help each member increase business and income. His passion for helping others shines through all that he does!

This is enough evidence and testimonials to prove that he is worthy to take the leadership of NAREB as the next president.

References and Sources http://www.nareb.com/profile/jhicks/ http://www.nareb.com/our-history/

http://www.apolloassociatesrealty.com/ default.asp.f-meetouragents_view_profile. agentid-19428 h tt p s : //w w w. l i n k e d i n . c o m / i n / j e f f re y hicks-0526436

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IN TECHNOLOGY

TOOLS TO FIND

THE WORTH OF YOUR HOME

A

ccording to a study performed in New Jersey by the state Department of Treasury, the number of homes sold each year is lower than that of 2006. The number of homes sold has decreased from 103,100 to 65,635. The study concluded the stagnating population and change of generation could be two of the reasons for the decrease. You may be wondering how you can value your home so that it can be noticed in such a market environment.

determining the value of your home may be the first step towards choosing the right real estate expert to help you sell your home. But what are these tools?

Tools to help you find the Worth of Your Home These tools will help you come up with a rough estimate of the value of your home. They include:

Knowing the tools for

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1. Hiring an Appraiser - If you can get the right appraiser who is good at his work, you can make a difference. You should pass your home appraiser through a screening test to ensure you can trust him. You should make a detailed list of the work and all the quality requirements that he should work in line with. Let him prepare his own estimates, then agree on the final price and sign the agreement before he commences any work.

2. Advice from an expert Realtor - According to Stan Humphries, the Chief Analyst Officer for Zillow, every market analysis has an error of about 6%, and homes are scarcely sold at the exact required price.

He continues to say that even realtors make these errors, and none of them have an error rate of zero. This should tell you that you just have to trust them.

Find a realtor who is relatively cheaper in his service fees and will make sure your

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needs are met.

3. Conducting a research of the Home sales By now, you must be aware that the world has gone digital and most sales take place online. According to a study done in the United States, 86% of all consumers search on their mobile device prior to making a purchase. Make sure you find a home that has similar characteristics to yours in order to accurately determine your home’s worth.

4. Using online tools - You should know that all online tools use computer models and incorporate public data to generate value estimates for your home. The data available affects the accuracy of the value estimates, which makes it vary from one town or state to the next. Humphries from Zillow says that online tools have an average of 7.9% error. Here are a few tools you can use to ballpark the value of your home.

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• Eppraisal.com – makes use of public records data and homes that have recently sold in your area • Bank of America – provides you with a range for the value of your house

Why Online Tools are not So True 1. Your home is not similar to your neighborhood: different houses have diverse features.

2. Most of the public data you use is wrong and outdated 3.

Your market is dynamic: it changes often

4. Records in your area may omit some information 5. Your type of home may not have been on the market for long

Online Tools They include: • Redfin – shows you the photos and any other information used to determine your house’s value

To sum it up, it is crucial to have an understanding of the tools to use to evaluate your home worth; however, this does not mean that the figure you arrive at is the actual worth.

Every tool has a margin of error between 5-8%.

Nevertheless, that’s all you need to know to find the worth of your home.

• Zillow – was the pioneer of all online house value tools • Chase – provides you with the most recently sold houses in your local area. It helps you find the value of your house and also the value of any upgrade you may want to do to.

• Sure field – helps you compare homes • ForSaleByOwner.com – gives you both regressive and comparative analysis to reach the average of your house value.

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References •

www.usnews.com

•

www.upnest.com

•

www.courier.postonline.com

• w w w. g o b a n k i n g r a te s . c o m . c d n . ampproject.org •

www.zevizoproperties.com/

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IN TECHNOLOGY

Matterport covers several fields of work, including:

The latest 3d option

for showing homes M

atterport is a company responsible for creating the newest way of showcasing homes in 3D and virtual reality formats. 3D is definitely one way you want to experience a home viewing, since it gives you a similar experience to the one you get when watching movies at IMAX.

Matterport allows you to create a personal account and run it or hire a trusted Matterport service provider to carry out tasks for you.

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Matterport cloud content can be accessed from anywhere.

How to create an account Search “Create a Matterport account” in Google, and it will take you to the Matterport account creationg page.

This page requests you to fill in your email address, password, and field of work.

Once you are signed in, the homepage has options for your camera choice and cloud package plan with all details.

august 2017

• Travel, hospitality and events • Photography • Retail and restaurants • Government and law enforcement • Industrial and manufacturing • Education, to name a few.

Apart from a camera and cloud package plan, you will need an iPad with sufficient memory to hold your scans.

Camera features • Both cameras have a oneyear warranty • High-quality 2D photography and 3D and VR visualizations

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• Facilitates printed scans • Spaces are captured with written text

More specs from the two cameras offered by Matterport:

Source: https://buy.matterport.com/ The cloud package plan The cloud initial one-time fee is $19 and offers three packages which have different specs as shown below.

Before reading the below specs, understand a few term definitions; • Space. This is the area which the Matterport 3D camera views and captures through scans. Space can be a home or an office among others.

• Scan. This is what the 3D camera records through a 360-degree turn while in a constant position. Several scans are

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combined to create a space. Large spaces require 101-200 3D scans while smaller spaces require 3- 100 3D scans, the larger spaces being more expensive.

• Processing. It is the conversion of 2D and 3D scans into a matterport space using advanced technology.

• Space hosting. On top of your matterport camera, purchase a cloud service plan for the purpose of hosting your scanned data processed into space. You can always create more space by deleting existing space.

• Collaborator. Just the same way Facebook

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Source: https://buy.matterport.com/ has several administrators for a page, Matterport has collaborators. Their role is to help run the space which includes adding space, removing space and managing already existing space. The more the collaborators the higher the cost.

How to use MatterPort 1. Scan an area by pushing the ON button.

This process is very fast and easy, as seen in the specs above. The process is dependent on the size of the space and other factors like whether it is an outdoor scan.

2. Upload the scans to the cloud. The system then works on the scans to give you space which is accessible from any location, since it is in the cloud. Back up your scans in iCloud.

3. The space will be in the format of a video or a link which is easy to share and does not need a plugin or downloading.

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Conclusion Technology has found a way to simplify many real estate activities, and this is one of those.

Matterport is a viable investment for real estate agents which has many advantages over the physical visit of spaces. Those advantages include saving on time, since the video or link can be shared with anyone residing anywhere, and money, since there is no transport cost to the location.

Reeferences 1.

https://buy.matterport.com/

2. h tt p s : // w w w. u p n e s t . c o m / 1 / p o s t / awesome-technology-tools-for-real-estateagents/ 3.

https://matterport.com/how-it-works/

4. h tt p : // f o r u m .we - g et - a r o u n d . c o m / topic/4048/how-to-backup-your-matterportspaces-on-ipad/ 5. https://matterport.com/frequentl yasked-questions/

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IN REAL ESTATE

LA’S LATEST REAL ESTATE SALES AND MARKET TRENDS

L

os Angeles is one of the most unaffordable housing markets in the U.S., as the housing demand has steadily outgrown supply. Home prices have never been higher, and rents are becoming increasingly unaffordable for most residents.

Most experts predict that the situation is unlikely to change in the near future.

Even though the cost of housing is higher than in most other ma jor cities, the median income in LA is low, which means that more residents will be struggling to make monthly rental payments. They may even find it

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difficult to save enough to buy a home.

One of the important things that you need to remember is that home prices and rental rates are closely correlated, and both are likely to increase due to the sluggish pace of new housing development. The housing prices are predicted to increase as long as the demand continues to rise faster than supply.

Real estate sales continue to feel downward pressure in 2017, as prices are still rising and incomes are not keeping pace. The LA home resale inventories have seen a significant 7% drop since June 2017. Short

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The turnover ratio is usually high when jobs are abundant and employees have confidence in the economy. The home turnover rate is not expected to increase before 2019. Experts expect the turnover rate to increase across the country by 2020. This could be fuelled by the demand from first-time homebuyers and retirees buying replacement homes.

Multifamily construction Multifamily construction has seen a significant improvement in LA, and this has outpaced the trend in single-family residential construction. This is mostly due to the increased demand for rental housing.

The next peak in single family residential construction is likely to happen in 2019. The multifamily construction demand is also fuelled by demand from the Y generation.

Jobs needed to increase demand As renters and homeowners need employment to make monthly housing payments, job recovery is the key to housing recovery. The job recovery rate of LA has trailed the state-wide trend, and continues to slow down in the first quarter of 2017. sales and foreclosures remained the same as a percentage of the total market in July. The median listing price has gone up from June to July.

Turnover is down Home sales volume depends a lot on homeowner and renter turnover. It all depends on how many people are willing to move from their residence each year. It is indicative of the ability and willingness of homeowners to relocate and of renters to move.

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As income remains diminished across job sectors, any kind of increase in home prices and rents will remain limited. As tenants and buyers determine rent amounts and sales prices, they can pay no more to rent a home or apartment or buy a home than what their incomes and savings qualify them to.

LA home prices have almost returned to prerecession values, and are slowly beginning to level off. Even though the LA real estate market looks promising, it will likely take at least a couple of years for demand and supply to reach equilibrium once again.

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IN REAL ESTATE

SAN FRANCISCO’S LATEST HOUSING AND COMMERCIAL DEVELOPMENTS to look a lot n Francisco is going Sa s, ar ye g in m co n the development will g and commercial in us ho as nt re ffe di square g units and millions of in us ho w ne of s nd add thousa ojects in veral development pr se e ar e er Th e. ac sp feet of office y residential potentially add man uld co e es th d an e, the pipelin g years. spaces in the comin l cia er m m co d an units proximatel y 63,000 r of 2017, there are ap te ar qu st fir e th of As cial project ts, luxury condos, so en tm ar ap al nt (re housing units ) of all kinds affordable rate units d an te ra t ke ar m d housing an are being built, e 63,000 units th at th of t Ou e. lin pe pi able in the designated as afford lly ca ifi ec sp en be mpl ete.

10,000 units have ts will take years to co ec oj pr a eg m e th of housing. Most demand has la gged behind n io ct tru ns co g in New hous employment growth and better n io lat pu Po s. de ercial for deca r housing and comm fo ed ne e th g rin ur lopers opportunities are sp rambl e among deve sc a to d le s ha is uacy of development. Th address the inadeq to ek se ey th as s and investor housing units. ap the rewards of pers are keen to re lo ve de d an s or st fastest Inve namic in one of the dy ly pp su low d an portant a high demand in the world. The im ts ke ar m te ta es al developing re housing units the new inventory of t no or r he et wh is question

I

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50

e demand.

th will be able to meet

construction and The new housing ents are sensitive to commercial developm is economic events. Th ma jor political and in e the projects th at ar means th at some of in get compl eted with the pipeline will not for has been stipulated the timeframe th at their compl etion. t compl eted on time, If the projects are no d w housing units an the demand for ne rther increase. office spaces will fu some of the ma jor Here is a look at t mercial developmen housing and com cisco: projects in San Fran velopm ent The Mission Bay Rede have been marked The 303 acres th at s will feature thousand for redevelopment . es its and office spac of new housing un tial of several residen The construction January 2017. Even buildings began in e specific timeline, th though there is no s ar to take several ye project is expected to compl ete.

Parkm erced

e w housing units, th With over 5,679 ne e across 152 acres. Th project will stretch 00 ntly includes 80,0 master plan curre

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0 e space and 230,00 square feet of offic square feet of retail. velopm ent Treasure Isl and Rede d ted on 45 acres an The project is loca e w housing units. Th will add 8,000 ne to take several years entire project could ick pment of Candlest compl ete. Redevelo cis Fran co San and neighbourhood y begun. shipyard has alread

5 M Developm ent s three towers th at This project comprise ion, between 5th, Miss cover four acres n ts in downtown Sa and Howard stree ll 688 housing units wi Francisco. A total of Of part of the project. be constructed as t ke offered below mar those, 241 units will be rs will add 807,600 rates. The develope e space and 35,000 square feet of offic rants and shops. square feet of restau not see the demand Some developers do to ich has led them for large units, wh g ree-bedroom housin develop two- and th ts of the current projec units for rent. Most g in 2018-2020; depend will be developed in s tate market handle on how the real es , x of housing units the additional influ re ntinue to plan futu developers may co cisco. projects for San Fran

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Helping Families Make the Right Move!

Willie Wilcox Cal BRE # 01396837 NMLS # 887943

Relationship Manager

Realtor | Northern California E-mail: willie.wilcox@thepowerisnow.com Website: www.thepowerisnow.com Office: 800-401-8994 x 728 Direct: 510-915-5107

IN LEGAL

SHORT SALES: R

REAL ESTATE

Law and Frauds

eal estate in California has seen worse times because job growth has declined in the past few years.

Property prices have fallen, and layoffs have continued. This has put a great deal of stress on indebted customers who took mortgage loans to buy homes, as they are unable to pay them back. Loan modifications have been of little help.

For such customers who wish to avoid foreclosure of their properties by the lender, a short sale can be a breather. A program by the government called “Home Affordable Foreclosure Alternatives� was introduced in 2010 to encourage short sales. Under this program, financial aid is provisioned that benefits the stakeholders in many ways.

A short sale is a pre-foreclosure measure in which the lender or the owner of the mortgage loan permits the homeowner to sell the home for an amount which is less than the outstanding amount by which the homeowner is indebted.

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54

Licensee Constraints in Short Sale A short sale is not just about agreement between the buyer and the seller for the sale.

In many ways, a short sale differs from the sale of an REO property or a foreclosed property.

The real estate marketers who act as brokers or consider themselves to be enablers of such deals must follow regulations and obtain suitable licenses to intermediate in the short sale.

Under section 10131 (d) of the California Business and Professions Code (B&P Code), a real estate broker’s license is required where a person, in a representative capacity on behalf of another, “negotiates loans…or performs services for borrowers or lenders …in connection with loans secured directly or collaterally by liens on real property…” for or in expectation of compensation, “regardless of the form or time of payment.”

Anyone who is not licensed as a real estate broker has no right to solicit the sale of or offer the purchase of a short sale under California law. Anyone acting as a “resolution expert,” “debt negotiator,” “short sale facilitator” or any other unlicensed specialist is not entitled to leap into the “debt forgiveness” matter on the part of the indebted seller.

At the same time, real estate licensees interested in taking the short sale listing but who do not intend to carry out negotiations with the lender on behalf of the homeowner must ensure that any unlicensed party on behalf of the seller is not involved in such unlawful practices.

If the seller carries out the negotiation individually on his behalf, without involving

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any third party (for example, a solicitor in the sale of the mortgaged property), he is not obliged to have a real estate license. But buyers often look for real estate professionals with experience in short sale cases to help close the deal smoothly.

What is considered fraud in a short sale?

There are some exceptions to the licensees in short sales. For example, attorney services may be offered by a licensed lawyer in California.

But his services must be limited to the scope of his work only. Real estate licensees must be aware of the fraudulent practices in short sale transactions in order to avoid getting intentionally or unintentionally involved in any such fraudulent act.

Sometimes unlicensed parties who claim to be short sale negotiators or facilitators through the means of “straw buyers” (fake buyers) get contracts signed with the lender wherein they obtain all rights to market or negotiate the sale of the house of the distressed homeowner.

Using false projections, they lead the lender into believing that some stated amount is the best price for which the property can be sold. Then, they keep seeking buyers

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with higher bids, which are never disclosed to the homeowner. Both the lenders and the homeowner are cheated by this practice.

Illegal short sale implications Violation of California law during a short sale transaction comes with serious implications.

Unlicensed people involved in short sale transactions of related negotiations may be fined or imprisoned under section 10319 of B&P Code. Violation of RESPA and payment outside escrow by provision of an addendum in which either the buyer or the seller could be charged extra monies is fraudulent under Federal or State laws.

Regardless of the means, real estate and mortgage frauds can be escalated if caught

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or reported. The licensees should therefore be cautious of such real estate market practices and warn their clients not to fall into the trap.

The homeowner should be advised to contact a qualified attorney to understand the taxation clauses involved in a short sale transaction.

References: http://www.dre.ca.gov/fil es/pdf/Articl e_ ShortSales03_2010.pdf http://www.bre.ca.gov/Licensees/ http://www.bre.ca.gov/files/pdf/adv/2017_ Supplemental_Advisory_Independent_Real_ Estate_Professionals.pdf https://www.thebalance.com/before-buyinga-short-sale-1798232

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IN LEGAL

INTERNATIONAL CONSUMER FRAUD AND COMPLAINTS M

any people think that consumer fraud is not of any importance to them since they are too smart for a scammer and will know when they are being fooled. But fraud does not work like that. You can be a victim when paying high prices for a small thing, and you will not know that you are being scammed. Consumer fraud is at an all-time high, and scammers have found various – sometimes fool-proof – ways to scam innocent people. How serious of a problem is this?

International fraud and consumer complaint statistics According to an FTC complaint report in 2012, the amount lost to fraud by U.S. consumers went up to $183 million in 2012.

Consumer complaints included telemarketing, sweepstakes, money offers, catalog sales, and imposters on the lead. These complaints numbered 53,000 in the U.S. and 48,000 in other countries. Another report, from 2014, stated that most of these payments (60-70%) were made through wire transfers. Around 33,000 complaints were reported in foreign countries for such payments and fraud in that same year.

How did the scammers do that? The same report stated that the leading method of communication for fraudsters is email and mail in Canada and email and websites in foreign countries. Some of the ma jor foreign countries listed as fraud centers were Canada, Nigeria, and the UK. The FTC received around 33,000 complaints from these three countries combined in 2014.

FTC actions against fraud The Federal Trade Commission, along with agencies from more than 60 other countries, together formed the International Consumer Protection and Enforcement Network (ICPEN).

The main purpose of this united alliance was to locate the fraud agencies, companies, and individuals that bring about large damages through their frauds. This alliance will potentially help other countries bring these frauds to justice and force them to pay for their crimes. This network would also work, investigate, cooperate with each other, and study fraud schemes to understand how these scammers work as individuals or as rings, as well as how they exploit technology for their purpose.

ICPEN has recently unveiled their new and updated website where consumers can file their complaints to help the network identify thieves and fraudsters. This also helps the agency create reports about complaint statistics.

How can you become a victim?

One of the most common types of fraud in

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the U.S. is identity theft. This alone accounts for 40% of complaints in the U.S., according to the FTC. This is deemed dangerous, as thieves can collect significant information about the consumer through phone, mail, or email and use this information for their profit. Usually, these thieves work in alliance with each other.

The thief can sell a consumer’s code to his clients who can use these codes to charge long distance calls all over the world. Thieves can also use consumer’s credit card information for their purchases. Of course, the consumer may not find out about these purchases until the bill is received.

These frauds also use websites to lure the consumer with interesting schemes and gifts, or use a company’s name for their fake prizes which require the consumer to pay before receiving the prize. When the payment is made, the real company is blamed for schemes which they had no knowledge of.

Consumer fraud is one of the biggest issues facing the U.S. and other foreign countries.

This single problem results in the loss of billions of dollars worldwide every year and can seriously affect the economy of a country,

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not to mention the consumers whose precious and important information has been breached by such scammers. Although serious action has been taken by authorities worldwide, this type of crime still remains a potent threat to the world economy.

References and sources https://www.ftc.gov/news-events/pressre l e a s e s /2 0 1 7/0 6 /f tc - oth er - co n s u m er p r o te c t i o n - a g e n c i e s - u n v e i l - u p d a te d website?utm_source=govdelivery https://www.ftc.gov/policy/international/ international-consumer-protection https://www.ftc.gov/system/files/documents/ reports/international-consumer-complaintscy-2014/cy-2014_international.pdf http://legal-dictionary.thefreedictionary. com/Consumer+Fraud https://www.debt.org/credit/your-consumerrights/fraud/

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IN LEGAL

VOLKSWAGEN, AUDI, AND PORSCHE

CAUGHT DECEIVING BUYERS:

GET SMASHED EQUALLY HARD BY AN FTC ORDER! The Affectees of “Not-soEnvironmentally-Friendly” TDI Clean Diesel Engines to Get Billions in Compensation

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n late 2008, some of the most prominent automobile manufacturing companies, including Volkswagen, Audi, and Porsche, started selling highly efficient and environmentally friendly cars with 2.0 liter and 3.0 litre TDI clean diesel engines. The hotcake sale continued unitl late 2013, and each company earned a fortune with record sales.

However, it was discovered later that these companies had mislead the buyers into believing that these vehicles had reduced emissions, resulting in better, safer, cleaner performance than an equivalent engine running on gasoline.

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Volkswagen manufactured more than 550,000 vehicles that they they claimed were outfitted with clean diesel engines, which basically meant that they were supposedly environmental friendly. It comes as no surprise that during that time, Volkswagen quickly became the top-seller of “clear or light-duty diesel vehicles.”

Furthermore, in order to pass performance tests, these vehicles were fitted with software that cheated the operating function of the vehicle during testing. This forced the testing device to display false results, indicating the vehicles had passed the emissions testing.

Now, isn’t THAT clever! With the addition of the 60

vehicles released, the company admitted that approximately 11 million of its vehicles had that fraudulent software installed in them.

For those wondering how this was possible, here is how it works. When an emission testing device was being used on the vehicle, the software amended elements in the engine like catalytic converters and EGR valves. These elements are used to recirculate and thereby lessen exhaust gasses: namely, nitrogen oxide.

Amendments in these key elements resulted in 40 times more nitrogen oxide being emitted than was permitted, which could further lead to serious health hazards such as premature death, emphysema, different types of asthma, and other lung diseases.

With fishes this big in the market, there are bound to be traps. After a road test in May 2014, the cheating companies were scrutinized and brought to court. On May 17, 2017, after a series of investigation and court trials, the San Francisco federal district court reached an agreement with the Federal Trade Commission, which purportedly sued Volkswagen in March in order to counteract the effects of this deception.

The settlement forced Volkswagen to offer their customers a total of $1.2 billion as a reimbursement for purchased 3.0 liter vehicles. The company already needed to make a payment, early in February, of more than $10 billion for

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consumers who bought the 2.0 liter vehicle.

This adds up to a total of more than $11 billion for customers who owned Defeat Device Vehicles (DDVs). Not to mention, this rough aggregate does not include the ongoing inquiry, meaning that charges to Volkswagen may continue to increase.

In addition to the profit they gained from this fraud and the damage caused to public health, the excessive nitrogen oxide is extremely harmful to the environment. This can largely contribute to environmental hazards such as eutrophication, acid rain, ozone depletion, smog, etc. The court will further hold Volkswagen responsible if any environmental claims come up later on in the investigation.

Meanwhile, orders have been given to provide $6 billion for environmental funding so as to try to rectify the damage done through green energy and technology investments.

Possible victims of this deception can contact VWCourtSettlement.com and AudiCourtSettlement.com to submit claims or set appointments to discuss their case. People who are not sure whether or not they are eligible candidates can also visit the websites above.

No matter how big a company is, we should always do our homework before purchasing or investing in a purchase of this size. To educate yourself, visit FTC’s official consumer information and assistance website or visit them on any social networking website.

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IN MORTGAGE

EXPANSION PLANS Z

illow is an online real estate site that offers a platform for buyers, homeowners, and those who wish to rent houses to interact and do business. When home buying, you need an expert to guide you.

Zillow helps you avoid many potential mistakes.

Zillow’s current expansion plans include increasing its business scope and reaching potential markets like big cities.

has also acquired a number of real estate firms in the past years. The acquisitions are meant to boost its brand and value in the world of real estate. Four years ago, Zillow bought the Street Easy. This project was a stepping stone for the company to grow its business further and become a leading and reputable real estate agent in America.

How Zillow Competes with Brokers Zillow Expansion Plans Zillow’s main expansion plan is based on acquisition. It has sufficient resources to buy property. It recently acquired the Naked Apartments, based in New York. By buying the Naked Apartments, it has expanded its business to New York City, which is a potential city for real estate business. The apartments are meant to add rental rooms for its customers.

The Naked Apartments will benefit Zillow because New York City dwellers prefer renting houses to buying property. This is a successful rental platform for the business to thrive and to maintain its competitive edge. With time, Zillow may become a successful real estate company in New York.

This is not the only acquisition for Zillow. It

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Zillow mainly competes with brokers through acquisition. Zillow accumulates wealth and resources. Smaller brokers cannot afford some of these resources. The Naked Apartments acquisition was a massive step for the company.

Zillow uses its resources to supports local start-ups in the real estate business through giving them access to the latest technology. It helps the local start-ups maintain their local branding, which strengthens the Zillow brand.

The move makes Zillow more competitive.

It has built its reputation and strengthened the brand image of the company over the years. It has done this by providing quality service to customers and property owners.

This means that it has built trust and long-term relationships with its clients. It is important to

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have a good reputation and long-term relationships.

Zillow targets cities that are highly populated and have great potential of renting a property like in New York City. This has given the company an upper hand over other real estate brokers.

This competitive advantage can be maintained by thinking outside the box. Zillow seeks to improve leasing spaces by building a tall building with 40 floors. Cities are becoming more populated and space for construction is limited. It is economical to build a building with many floors.

Zillow has continued to stay on top of the real estate game by disrupting the traditional real estate brokerage. It has done this by having an online platform and through acquisition. Traditional brokers will not be catching up with Zillow anytime soon.

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IN MORTGAGE

Common Foreclosure Scams TO AVOID

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omeowners who are anxious to sell their homes due to financial constraints that make it impossible for them to their mortgages are usually a high target for foreclosure scams. Usually, the scammers will find unsuspecting homeowners by advertising their services in the media, distributing flyers to the target audience, or contacting people who have advertised foreclosures in the notice boards.

In addition to the scammers, many companies also offer debt relief services and lending options at high interest rates. Some of the services they offer can easily be done by a layman, so ensure that you find out from the service provider the exact service they claim to offer and see if you can do it on your own.

Also, be wary of any service provider that does not give exact details of what their services

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entail. It is important to get a review of the service provider from the Better Business Bureau, and to do some online research on the service provider. Here are a few of the most common foreclosure scams.

Identity theft Identity theft is increasingly becoming popular in foreclosures. The scammer will try to get your banking details, social security number, and date of birth. Such info can be used against you in the future when your financial situation improves. You may also be encouraged to sign fake documents with a promise that the scammer will act as an intermediary with the mortgage lender to refinance your loan. They may also try to convince you that they can help you declare

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bankruptcy, and thus avoid foreclosure. These are merely tactics to get you to trust them.

Equity skimming In equity skimming, a company will ask you to sign the title of the house over to them with the promise that they will deal directly with the lender. They may ask you to pay a small rental fee and also rent out to other tenants in order to generate money from your property. The company may also actually sell the property to another buyer who, if not careful, stands to lose the house as well when foreclosure becomes inevitable. You should, therefore, be careful to deal with ethical real estate investors. Usually, such investors will offer under-market value and pay you cash with quick-deal closings and minimal procedures.

Equity stripping Equity stripping is also becoming very popular.

Usually, a company offers to lend you money to pay the lending company to avoid foreclosure.

But their requirement is that you have to

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overstate your earnings so that you qualify for a bigger loan. They are banking on the fact that you will eventually fail to pay, at which time they can sell the house for more than the amount you owed the previous lender. This way they make money from the sale of your house.

Alternatively, they may ask you to make small monthly repayments with a promise to pay a big lump sum in future. They are banking on the fact that you may not be able to repay the lump sum, hence they can sell your home at a higher price, making more money from the sale.

Where to seek help or file foreclosure complaint To avoid foreclosure scams, educate yourself on some of the most common ones. Always trust your gut feelings. If it is too good to be true, it usually is. If you are a victim, you may file a complaint with the Federal Trade Commission. If you are looking for foreclosure help, consult professional and reliable government institutions, such as the Making Home Affordable Program, or seek help from a government-certified housing counselor.

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IN COMMUNITY

BEST SECURITY TIPS TO KEEPING YOUR

HOME SAFE WHILE ON VACATION

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ersonal security and property protection are the two most important asset protection strategies that you could ever take. However, most people prioritize the former over the latter. While that may seem to make sense, at least to most people, property protection is equally important. Keeping your home safe should never be overlooked.

Sometimes we are blinded by the anticipation that comes with a vacation getaway. Thus, we forget to properly secure our home. Go ahead and make your vacation plans; but as you do, make sure that you have a plan to leave your home safe and secure. It’s always better to be safe than to be sorry. We have prepared comprehensive coverage of how to make sure that your home stays secure while you are gone.

If anything can go wrong, it will happen while you are on vacation. Can you imagine

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coming home from a nice vacation only to find that some items are missing? That can be devastating. Surely, it is a feeling that you would rather not have. Therefore, it is necessary to take precautions against such incidents. Sometimes, it is the best thing you can do.

1. Have a housesitter The first precaution to take in keeping your home safe is to have someone you can trust live in or take care of your house while you are gone. You may happen to have a relative you can trust. Have them move in temporarily while you are gone.

If you are unsuccessful in finding a conscientious relative, consider a house-sitter or pet-sitter. However, be aware that this can be a pricey option; but at least they will take care of your house while you are gone.

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Did you know? If you have more than one pet, it can be wiser to hire a pet-sitter instead of having a friend stop over. The way your pet-sitter will handle things in your homes is far better. In addition, it is also cost-effective to have more than one pet managed by the same pet-sitter.

2.

Ask a friend to watch your house

Tell your neighbors you will be gone for a while, and ask them to keep a closer watch on your home while you are away. The best thing to do is to leave a key with your neighbor. If there is trouble, they can enter your house to check it out. Still, they can also make the home look lived-in by switching the lights on and off periodically. This will improve your home security.

If there is a community neighborhood watch group, let them know of your absence. They will allow you to rest assured that someone reliable is paying attention to your home.

Did you know? 50% of all reported burglary cases involve the use of a key. As a precaution, as you go on your vacation, make sure that you know the whereabouts of all of your keys.

Never leave your keys outside. If there are people who know the best sites in which to leave spare keys, it’s the burglars.

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3.

Protect your home

Friends cannot do much in terms of home defense, and neither can the pet-sitter or house-sitter; therefore, the first protection strategy has to come from your own initiative.

You can effectively do this by making sure that you have installed a burglar alarm.

Even if it is not protection enough, at least it has some advantages. It may not be foolproof, but it will keep your home safe while you are gone. While alarms are a bit expensive, insurance companies have reported that a high-tech alarm system can effectively bring down insurance rates by 15%-20%.

If you have not installed an alarm system in your home, you may consider enhancing your door’s deadbolts. This will make your doors able to withstand strong force from the outside. When leaving, it is important to make sure that important documents are kept safe.

Turn off your computer and protect it with a password. Other important documents need to be locked in a safe place.

Did you know? Having a locker or a safe box in your home is very important. While you are on vacation, your jewelry needs to be locked in the safe. In addition, you need to notify your insurance companies that you will be gone. If you anticipate that the vacation will be longer, you may consider asking your local police to

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keep an eye on your property.

4.

chances of keeping your home secure.

Make sure everything seems intact

Houses that appear uninhabited are more likely to be burgled. Therefore, before leaving on your vacation, make sure that your lawn and house is well-kept. Also, consider investing in timers that make your lights turn on and go off periodically. Timers keep the unoccupied residence look lived-in. The burglar gets the illusion that there still are some people living in the home, and are therefore less likely to break in.

Another way to keep the appearances of your home up is by making sure that you have your neighbor taking care of your garbage cans while you are away. Just as important, make sure that you have someone to take care of your lawn while you are away.

Did you know? Keeping your house engaged even when you are away is the best security you can give to your home. Even think about keeping your blinds open even when you are gone for a long vacation. More importantly, always remember that the more the normal your house looks, the better your

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A vacation should be fun; but when you have left your home unsecured, it becomes a constant worry resulting in an unrelaxing vacation. So before you go on your vacation, make sure that everything is in its best shape.

After the vacation, do a quick checkup for any broken parts, any missing items and such. If you notice something’s awry, immediately call the police and have them inspect the house.

These are just a few of the best security tips to use to make sure that you return to a secure, immaculate home.

References: h tt p : //trave l t i p s . u s a t o d a y. c o m / h o m e security-safety-vacation-14385.html http://tlc.howstuffworks.com/home/10-tipsfor-keeping-house-safe-while-on-vacation.htm h tt p : //w w w. p e p p e r - s p r a y - s t o re . c o m / relatedinfo/vacation-security.shtml

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

The Power Is Now Inc., is a Mortgage Brokerage Licensed by the State of California CALBRE License #1980407 and is not affiliated with any state or federal agency. Go to www2.dre.ca.gov for verification. The Power Is Now Inc., is also licensed by the NMLS License #1435243. Go to www.nmlsconsumeraccess.org for verification. The Power Is Now Inc., is an equal housing lender. Our corporate office is located at: 379 6th Street Riverside, CA 92501. Telephone and Fax: 800-401-8994. Eric Lawrence Frazier, MBA is a California Licensed Loan Originator NMLS# 461807. This is not a commitment to lend or extend credit. Restrictions may apply.

Information and/or data is subject to change without notice. All loans are subject to credit approval. Not all loans or products are available in all states.

IN COMMUNITY

FIVE WAYS TO PROTECT YOURSELF FROM IDENTITY THEFT DURING A MOVE

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hinking about moving? Here are a few quick, easy tips to protect yourself during the transition.

You ought to prudently guard your identity while you move. Any security system has its own vulnerabilities and weak spots, and identity thieves know exactly what they are looking for. As a consequence, when you are moving to a new location, you may be more vulnerable than you think you are. Often, people will leave important documents behind – personal correspondence that has not been re-routed to your new address, for instance.

Before we can go on, it is important to mention that moving into a new home is not as easy as it may seem. This process requires a lot of systematic planning, a lot of packing (which for most is the hardest part), and finally, the crux of moving that most people lack, patience.

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Identity theft When moving into a new place, all of your personal information is shipped to a new location. This is the point where you may be vulnerable to identity theft. Therefore, it is important that you protect your personal data. It is particularly important to understand that anyone can take advantage of your personal possessions, and it is therefore incumbent on you to be vigilant about how your personal information is protected.

When you are moving, people will enter and leave your home frequently.

This is the point at which you are most vulnerable. When people come in, make sure that you have taken necessary precautions to protect yourself. The tips below will be helpful for you to protect yourself during a move.

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1

Change of address form

2

Know your moving company

This is one of the most vulnerable areas while on the move. You should submit a change of address form with the postal service when planning to move.

Importantly, you should do this BEFORE you move. After submitting a change of address form, you should wait 8-10 business days for confirmation that your mail has started being delivered to your new residence.

The Better Business Bureau offers clients an opportunity to verify the credibility of moving companies.

Therefore, before you think about moving, it is advisable that you check with the BBB about the moving company of your choice. The reputation the company has will direct you on the course of action to take. When possible, seek referrals from your family and friends.

You may wish to take this a step further and notify your financial institutions, utility companies, and insurance that your address has changed. This process should also incorporate schools and any other parties affected by the change of address. Changing your address is one of the single most important things you can do that will save you from falling victim to identity theft as you move.

Choose a reliable company with extensive experience. Checking testimonials will help you choose the company of your choice.

Checking the company rating will also help you choose the right company to work with.

To be more precise, check for a company that is registered with the Federal Motor Carrier Safety Administration (FMCSA). Also, it is important to verify that the company has a U.S. Department of Transportation registration number.

3

Look before and after you move

Always be vigilant. After all, caution is the only guard you have. One way to be vigilant is to stay on top of your credit score with a site such as Credit Karma or your identity with a service such as LifeLock.

Then, you will get an immediate warning when someone breaches your personal information.

Before and after you move, you will do well to protect your personal information.

Have a company that you can willingly trust will do the work for you so that you do not have to worry about that.

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While the moving company is transporting your possession from one location to another, it is important to make sure that all your sensitive documents are safeguarded.

Some items are worth being transported by the transport company. However, your own personal documents need to be transported by you and you alone. They are sensitive and therefore, you need to know their whereabouts before and after you have moved.

This will help you in making sure that the information does not fall into the wrong hands.

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4

Keep your electronics secure

This is where many people slip up.

During the move, you may become more vulnerable to electronic identity theft. When you are moving, it is important to make sure that all of your electronics are password protected. In addition, you should always be careful when using public Wi-Fi about which accounts you log in to. It is easy for hackers to obtain your information from insecure networks. If you will be using a public connection, consider using a virtual private network which encrypts your data.

5

Be present during the move

It is one thing to supervise the move, and it is another to actually be there during the move. Do not release the items or the packed goods and trust that they will reach they destination safely. You need to be there when the move happens.

Movers will help you with the heavy lifting.

You should be there and remain present to supervise the move and the entire process that comes with the transition. So much will be transported, and the chances of something missing will be very high.

Before you completely move, make sure that you have shredded all the documents that you do not require. Take this as an opportunity to reevaluate your home office, moving all the documents that you no longer need and shredding them.

Following these steps will help you move with as little risk of identity theft as possible. You have to stay vigilant and track everything. Continue monitoring your credit score. If anything suspicious arises, report it immediately.

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ALFONZO L. EDWARDS Realtor | Cal BRE # 01937296

Relationship Manager Office: 800-401-8994 ext. 732 Direct: 925-435-2557 alfonzo.edwards@thepowerisnow.com thepowerisnowrealestateservices.com/

IN YOU

REAL ESTATE AGENTS THE PROFESSIONAL MOVEMENT

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he alarm has been sounded. What most real estate professionals do not know is that there is a current distress in the housing market. Every day, the environment is changing. Many mortgage loan borrowers owe more on their homes than their homes are worth. And after realizing this, many choose to just walk away and mail in their keys!

Nevertheless, short sales have risen a great deal. And if you follow trends, it is slowly becoming a favored transaction option. If you examine the past few decades, you will realize that loan modifications were primarily the first line of defense for all who were in distress. But what is being observed is a strong and infectious paralysis of loan modifications.

What is a short sale?

To a few real estate agents, this may be a new term; but most are already aware of what a short sale is. A short sale is a preforeclosure residential real estate transaction where the owner of the mortgage loan, the lender, agrees to allow the homeowner to sell

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his or her property for less than or short of the outstanding amount owed on the mortgage.

If you find a homeowner short selling the home with respect to their mortgage, they are likely doing so because they are seeking a back door to avoid the risk of a foreclosure action or even to lower the credit damage

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that would have risen out of a foreclosure.

The way short selling is done across different states may be different. However, they all revolve under the same shadow. The way short selling is done in California is so different from other counties, with some huge exceptions. Basically, short selling in California will restrict how much money a seller will be forced to pay, which normally is a condition of approval. This carries what is normally known as an exemption from state income taxes.

Nonetheless, this has to be under specific circumstances.

Short sale and licenses To qualify for a short sale, you will need to have licenses – not just one. First, if you are an agent, a real estate broker license is mandatory. The person who will be in charge of negotiating a loan for the lender or the borrower has already secured what we call a lien on the property. This disregards the time or the format of payment.

In a short sale, the issue of debt forgiveness is common. Therefore, there will always be some people who will take advantage of this.

They purport to be the loan negotiators and consummate short sales on behalf of other parties. This they normally do without a real license, and it is with keen absoluteness that they will assert to be debt negotiators.

Since the loan is secured collaterally or directly, legal obligations comes into play, so a license becomes an important part of the short sale process.

Fraud in short sale In any business, especially one in which transactions are involved, it is very easy for fraudulent cases to penetrate, and thus break, the law. This will not go unnoticed in common law. Those who engage in unlicensed acts are in violation of the law. The penalty for this is imprisonment and/or fines.

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Fraudulent cases are escalating every day. This cannot be acceptable, since it results in severe damage to many involved persons. Short sale flipping is a common type of fraud. Also, people have upgraded their fraud techniques in that most of them now use misrepresented valuations or even manipulated prices to increase their profits at the expense of their lenders.

The general effect of this is that it places a huge burden on the taxpayers’ shoulders. In addition to that, money is taken out of the system which would otherwise be for the benefit of the lenders and the homeowners.

Fraud disrupts everything. In many cases, it disturbs the value of the real estate market and many other factors from the time of lending to the time of the short sale process.

Final verdict Transparency in the process is the key to having a better and more established industry.

Real estate licensees are recommended to stay transparent in all that they do. Every transaction, all material facts, and any side dealing need to be fully disclosed.

For the other party, the clients, it is advisable that before you get into a business dealing, you first consult with your attorney or a tax professional. He will take you through all the tax consequences of a short sale transaction.

Thorough investigation and education on the specifics of the short sale process, you will help ensure your future success.

References http://www.dre.ca.gov/fil es/pdf/Articl e_ ShortSales03_2010.pdf https://www.thebalance.com/how-to-do-acalifornia-short-sale-1799132 http://www.wesellhouses4u.com/short-sales

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IN YOU

A GREAT TOOL

FOR THE BUSY PERSON T

echnology has brought about a revolution in the way that we conduct our business.

In the busy world in which we live, tools have been devised to aid in our productivity and keep us more organized.

Technology has brought us so much, and how we use it to our advantage will totally depend on us.

then you are not being as productive as you could be.

Peek into your own personal system

The software is an excellent strategy when it comes to taking your text, photos, audio and many other kinds of notes. Therefore, it is a multipurpose media software.

It also has the capability of automatically syncing what you need over the web and across all your devices.

How do you organize your work? What tools have you dedicated yourself to using?

Is your productivity dynamic or static? What can you do to improve your productivity?

These are just a few of the questions that you need to ask yourself insofar as your productivity is concerned.

To help you, we are going to peek inside your system and oil your gears a bit. If you have not tried Evernote,

The power is now Magazine

Evernote is brilliant software – it is a digital brain that you need to upgrade your game.

You can use the software to store everything that you need, and it will be available to you no matter where you are. Once you start using it, you will find that is hard to live without such a tool if you aspire to be more productive.

In its raw form Just like any other software, Evernote has the capability of becoming unwieldy if you

august 2017

do not have a system to use it. In its raw form, the tool is complex; many people have tried it many times without seeing or grasping its real capabilities. Could it be that the tool is that complex? Or could they themselves be too complex for the tool?

You can never really understand the beauty of a tree unless you share in its shade. Evernote is not a complex tool. It is one of the easiest tools to use. But for first-time users, it can be a puzzle. Nevertheless, the tool is a great deal. It is what many people are using to increase their capacity, and I think you too should join in the ride.

The more you use it, the more useful it becomes If you only use Evernote for one task, you may get bored using it. In order for you to unlock the basket of goods 76

Evernote has, you have to explore everything that it has to offer. This is the point where most people make a mistake, seeing Evernote as just another note-taking app.

have made a note via your iPhone and saved it. The next time you launch Evernote on your desktop, the note will already be up-to-date, so manual synchronization will not be needed.

Evernote is a brilliant tool, and the key to using it perfectly is committing to it. Get right into it with all you can. It can get ugly if you are just using the tool for just a few isolated tasks. Basically, the app will not do just one thing with perfection. Therefore, if you want to see the real power of Evernote, then you have to make it your default bookmarking or webclipping app, your note-taker, your repository to reference material, and your recipe box.

However, you will need to have an account to access such feature. Needless to say, one is easy to create and will not take you longer than five minutes. Every month, you will get 60MB worth of storage. Too small? Well, your notes are small, and it will take thousands of notes to fill up your 60MBs.

Is it not beautiful having all your documents, media information and all other information indexed and accessible across every other platform you have? I bet it is, and this is only possible with Evernote. Consider giving the app a try – you definitely will not regret your decision.

This is the part most people have been eagerly waiting for. But before we get to the cost, let me begin by saying that you cannot use Evernote offline. It uses your web-based account, so it becomes hard for you to access it offline. However, offline access can be enabled if you upgrade your account. For only $4.99 per month, you will be able to access all these services. Annually, it is only $44.99, which is quite affordable for most.

Using Evernote for maximum efficiency There is a lot of note-taking software that you must be exposed to, but if you haven’t tried Evernote, then you haven’t tasted what it means to be productive. It is a tool that makes this process very easy. All you have to do is open the app and head straight to the plus button to create a new note. Then… start typing. Isn’t it easy?

What makes it special is the fact that beyond all the text writers we have, Evernote has the capability to attach photos, audio recordings, tags, and even locations. After you have finished, your note will be stored in notebooks.

This is another feature that makes Evernote one of the best tools on the market today.

While some of the rich text features will require some polishing, with Evernote’s syncing capability, this becomes upgraded to somewhat excellent.

Evernote enables an automatic feature where each time you add a new item, it becomes synced to your account. Consider this: you

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Costs

Bottom line If you really need a transformation on how you take and manage your notes, your ideas and all your projects, adding the taste of a better technology will do you good. Consider giving the app a try today, and you will experience the difference in your productivity.

Sources http://lifehacker.com/5989980/ive-beenusing-evernote-all-wrong-heres-why-itsactually-amazing http://lifehacker.com/5989980/ive-beenusing-evernote-all-wrong-heres-why-itsactually-amazing h tt p : //w w w. l e a d l i a i s o n .c o m /reve n u e generation-blog/tools-of-the-trade-evernote/

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BUSINESS

Frazier Group Realty, Inc. As you venture into the World of Real Estate, we can help you put the pieces together and Naviagate you into Home Ownership

Ruby L. Frazier President License #01751773

Briana M. Frazier Broker License # 01751473

Jessica E. Frazier License # 01817312

Erica L. Frazier License# 01791095

Frazier Group Realty is the right place. Our Navigators are available to give you personalized service and answer any questions you may have. You can call, email or visit us and we will be there ready to help you every step of the way. Wether you are a first time home buyer or an experienced real estate investor, here at Frazier Group Realty you gain useful information about how to choose the “right” property, and everything involved in making an informed decision in today’s real estate market.

Making Clients for Life

3739 6th Street, Riverside, CA 92501 Office: (951) 686-5261 Fax: (951) 686-5264 www.fraziergrouprealty.com

Home Ownership Home ownership brings stability to individuals and families who have never had a dwelling place that they could call their own. There is something special about owning real estate that is unlike anything else on earth you can own.

Real Estate you own is not like cars that decay over time and you have to replace them.

Real Estate you own is not like clothes that go out of style and you have to buy new ones.

Real Estate you own is not like expensive vacations or experiences that only last a moment in time.

Real Estate you own is not like an apartment where the landlord may increase the rent until it’s no longer affordable.

Real Estate you own is not like staying at your parents house where you know can’t stay forever.

Home ownership is the beginning of wealth that increases over time and becomes your estate & legacy Home ownership is the pride of a mother nurturer and the kitchen her domain Home ownership is the pride of a father provider and protector of his territory and family.

Home ownership is the foundation of permanence and the place where life happens, birthdays celebrated, deaths mourned.

Home ownership is the place you build memories that can never be taken from you.

Memories etched in walls and concrete, experienced in rooms and floors, Memories living in trees and shrubs planted by your hand.

Howe ownership is the manifestation of you - your style, your colors, your smell, your stuff, your junk, your memories, your yard and your spaces, your life.

It’s the height markers on your first child’s bedroom wall.

It’s the hearts drawn in the concrete slabs when you pour your patio floor It’s the birthday parties, and anniversaries in the living room and kitchen.

It’s the back yard barbecue with friends, neighbors and family contentions it’s the high school and college graduation, and wedding receptions Its’ the family nights and block parties and the fellowship of family connections Home ownership It’s more than real estate. Land, brick and mortar, wood frame construction and chicken wire.

It’s more than money saved, gifts recieved and grants obtained It’s more than the debt you incur to buy it.

It’s more than the payments you make to own it.

It’s more than the appreciation that comes with keeping it over time.

It’s memories, it’s family, and it’s life that can happen in one place Until you say it’s time to move.

By Eric Lawrence Frazier MBA CA BRE 01143484 | NMLS 461807

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