the PIN magazine
MISSION AND VISION OF THE
POWER IS NOW MAGAZINE
IN THIS ISSUE: Fast-tracking “Blight abatement” on abandoned properties by Lynn Effinger
7 best strategies
to prevail in a bidding war by Nancy Braun
O T O
E P TY
R P N E H N C I N Z U E LA
OF
F
L A I IC
ST
1 V O
3 1 0 2 ,
REAL ESTATE
SEPTEMBER 2013
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publisher’s note The Power Is Now Inc. Eric Lawrence Frazier, MBA President and CEO Office: (800) 401-8994 Ext. 703 Direct: (714) 361-2105 Email: Eric.Frazier@ ThePowerIsNow.com Website: www.thepowerisnow.com Blogtalkradio: www. blogtalkradio.com/ thepowerisnow
Edition team Erica L. Frazier, MBA Assistant Editor 8900-401-8994 ext. 704 email: erica.frazier@ thepowerisnow.com El Princess Eclar Digital Media Manager 800 401 8994 ext. 702 email: elprincess.eclar@ thepowerisnow.com
Goldy Ponce Arratia Graphic Artist and Design Manager 800 401 8994 ext. 711 email: goldy.ponce@ thepowerisnow.com
Welcome to The Power is Now Magazine also known as “The PIN” magazine and thank you for reading the magazine prototype of our first official issue that will be published in November. The Power Is Now magazine would not be possible without the thousands of listeners and supporters of the Power Is Now Online Radio over the last 4 years. I can hardly believe that we have been producing radio shows about real estate for four years. The Power Is Now Inc. is expanding into events, consulting and now magazines. The Power Is Now Radio averages over 50k live listeners and downloads every month. It is the reason why we are here today and that we are very excited about the potential of the magazine. The subscription to the PIN Magazine is free and will be downloadable on all social media platforms, Blogtalkradio and the Power Is Now website. Please subscribe today and receive you’re the first issue which I know you will enjoy reading. The Power Is Now magazine will be unique in many ways. One our theme “The Power Is Now” applies to every aspect of life. Just ask anyone what the phrase “the Power Is Now” means to them and you will be amaze at what people will say. Therefore it is our goal to pursue a holistic approach to life and business and provide information that can empower everyone to live a powerful life regardless of their station in life or profession. The Power Is Now and Your Power Is Now. It is important for The Power is Now, Inc. to be relevant to anyone who is or desires to be an entrepreneur in real estate, lending or any other industry. We believe in the American Dream of homeownership but the American dream is not just about purchasing a home. It is also about owning your own business and becoming financially independent. Just ask any immigrant who has come to this country. They understand that the American Dream and that their Power Is Now. The name and slogan “the power is now” suggests that we maximize our potential for success in business and life when we act on information and opportunities now. The present is our future because the future is only a reflection of past decisions to act now. So what that means is that, “We are at our best and we maximize our success when we act now.” That is our slogan and theme of Power Is Now Radio and Magazine. Please go to www.thepowerisnow.com and become a member of the Power Is Now network for free and also subscribe to the PIN Magazine for free. Thank you for your support of The PIN Magazine.
Contributing Writers Ruby Frazier Havilah Malone Mickelin Burnes-Browne, Bubba Mills Brandy Mychals and Vinca Heart Nancy Braun Jill Rand Eric L. Frazier, MBA
Eric Lawrence Frazier, MBA
President/CEO of the Power Is Now Inc. www.thepowerisnow.com Publisher of the Power Is Now Magazine
SEPTEMBER 2013
contents:
Page 5
Guest VIP: Bubba Mills, COO & Managing Partner
R
ecently, The Power Is Now Radio interviewed Bubba Mills, Chief Operating Officer and Managing Partner for Corcoran Consulting & Coaching who shared some great insights regarding the latest issues affecting the real estate industry.. It was a very informative interview and a lot of the listeners tuned in to the broadcast over at The Power Is Now online radio were able to learn a lot from the discussion. Among the topics covered during the interview ranged from the state of the industry as a whole, the Mortgage Relief Act, home prices and the increase in rental demand, how holiday buyers are having a higher conversion rate and the Real Estate Dominance Bootcamp to be held from February 6 to 8, 2013. Bubba Mills is a real estate expert who promotes best practices in the development of innovative ideas in real estate owned (REO) asset management. He is an outspoken advocate of compassionate REO disposition and corporate responsibility. [...] (page 13)
Page 7
Page 10
index mission and vision (page 5)
Fast-tracking
of TPIN magazine
“Blight abatement” on
the us deficit (Page 7)
abandoned properties
and the long term impact
Wishful thinking (page 49)
in the US economy,
about the housing recovery
the mortgage
doesn’t necessarily
(page 10)
(page 46)
interest deduction
make it so.
is it time to sell
Time Management & (page 52)
(page 13)
headline news (page 15)
Change Management
with Bubba Mills
Project tomorrow (page 54)
This is how (page 26)
Change Management
you play to your strenghts
7 best strategies (Page 58)
the us fiscal cliff(page30)
to prevail in a bidding war
political theatre has
4 steps (Page 60)
become economic reality
to become a power player
attention sellers
declutering: (Page 65)
(page 33)
Pre foreclosures
Recognizing the Hoarder in you and living in FREEDOM
buying
Havilah’s Corner (Page 70)
slow down
Buying (page 38) (page 40)
flipping a house (Page 34)
meet the ladies behind professional football
for cash
movies that inspire (Page 72)
unfinished homes
investing
(page 45)
in real estate
“The Butler” new va housing center (page 74) to host benefits seminar
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SEPTEMBER 2013
the power is now Magazine editorial calendar
Mission and Vision
November | December 2013 Deadline October 1, 2013
Mission
January | February 2014 Deadline December 1, 2013 March | April 2014 Deadline February 1, 2014 May | June 2014 Deadline April 1, 2014 July | August 2014 Deadline June 1, 2014 September | October 2014 Deadline August 1, 2012 November | December 2014 Deadline October 1, 2014 The Power Is Now Magazine was born out of the Power Is Now Online Radio which features biographical interviews and informational interviews with local and national community leaders, real estate, banking, investment professionals, business coaches and sales trainers. The Power Is Now Magazine will feature profiles of successful real estate practitioners, interviews with real estate and banking industry leaders and editorials from experts and practitioners involved in all aspects of real estate, marketing, banking, insurance, investments, business development and social media.
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of the power is now MAGazine The Power Is Now e-Magazine is a national real estate and lifestyle magazine, bringing together each state’s communities of consumers and the real estate, banking, insurance and investment professionals who serve them, through smart, fun, and timely editorial content, compelling photographs and quality advertising. Each issue will feature a blend of articles from business and industry professional leaders, on residential and commercial real estate, default services, REO and short sales, finance, banking, insurance, dining, fashion, home design, travel, health/fitness and Book/ Movie reviews. The Power Is Now e-Magazine will be a free subscription magazine on Blogtalkradio and thepowerisnow.com. The Online version will be a paid subscription with more content and video and radio interviews and commentary.
Vision The Power Is Now Online and e-Magazine will be the premier Real Estate Magazine serving consumers, real estate and business professionals nationwide in all metropolitan markets. The Power Is Now Online and e-magazine will be viewed as the most effective medium for real estate and business professional to get exposure to consumers and to share their knowledge and information that will empower them to take action. The Power Is Now advertises to over 1 million real estate professionals who sell or represents buyers of real estate. Over 1 million consumers interested in purchasing or selling real estate and thousands of professionals who provide services to both. Our goal is to achieve 100,000 subscriptions the first year and 250,000 in our second year through ad campaigns in social medial and The Power Is Now Radio show. Publication Frequency: 6 issues a year. Online: magazine.thepowerisnow.com
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SEPTEMBER 2013
Cover and Feature story profiles: The cover of each issue will feature our visionary Eric Lawrence Frazier MBA, publisher of the Power Is Now Magazine and founder and executive producer of the Power Is Now Radio. Each issue will also feature a Power Player Centerfold of an extraordinary business professional who is an exceptional leader in the business, insurance, banking, the real estate and other industries. The Online and e-Magazine will have 22 sections for various articles under the Power Is Now theme: The Power Is Now Real Estate, Real Estate Resource, Agent Spotlight, Headline News, Technology, Politics, Community, Health, Medicine, Ministry, Literacy, University, Entertainment, Music, Youth, Social media, Research & Reports, Business, Energy, Economic, Art and Sports. The writers for each department will all be industry professionals who are practitioners in their field of expertise. We are bringing the best practitioners in the industry to share their knowledge and experience in their field of expertise. They are industry professionals who can provide advice, and information to make decisions that will enable consumers to navigate through the challenges and opportunities of life.
The Power Is Now Radio Audience is also the magazine: The Power Is Now Radio Audience will also be the magazine’s audience: This information is based on surveys taken from 1/1/2013 to 6/30/2013: Real Estate Agents & Consumers Listen Nationwide Age range from: 25-65 Average experience in real estate: 16 years 70%: Brokers 70% | Agents 30% 30%: Consumers 20% | Service Providers 10% The Radio show currently average over 52,000 live listeners and archive listeners per month on Blogtalkradio. Free subscriptions will be available from BTR and Thepowerisnow.com.
SUBSCRIBE NOW! The e-Magazine edition will be available on the Nov. 1, 2013 and is downloadable from the website or BTR for a free subscription. The e-Magazine & Digital Online subscription will be available on January 4. 2014. A Digital Online Subscription will provide the best of The Power Is Now e-Magazine in an all-digital format. You will receive The Power Is Now e-Magazine each issue, access to archived back-issues online; access to brand-new content on Thepowerisnow.com access to webinars, videos, radio and other online events that will empower you with information act now for subscribers only; Remember the Power Is Now! Make sure you go digital with The Power Is Now Magazine online.
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RESOURCE
SEPTEMBER 2013
THE US DEFICIT
and the Long term Impact on the US Economy
W
ho is not talking about the deficit? It is front page news and a segment in the nightly news every day. There has been much talk about the US deficit and the effects it will have in the short and long term on the country’s economy. Many of us have heard the discussions on C-Span, NPR, News Talk shows that are being considered to cover the budget deficit. As a real estate professional do you know what the US deficit is and the impact that it having on the economy? The effects of the deficit are evident in almost every walk of life. For real estate professionals it is necessary as trusted advisors that we know what it is, what are the long term affects and what can be done to protect our clients from the effects. Let’s start with defining the US Deficit or US Deficit budget. The US government has practiced a trend of spending more than it earns and have been suffering a current deficit from 1982 onwards with the exception of one year. To cover this deficit, the US Treasury took help from its foreign investors and other sources of borrowing,
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in loans equalling trillions of dollars. This finance was also used to support two long wars, promoting the economy through fiscal stimulus and rescuing the country’s financial system. Since the limit of the national debt today has reached a constitutional limit of $16.39 trillion, there are consequences that the American people will face if the government’s ability to borrow is not extended. The United States has never failed to increase its debt limit and several economists have stated that if the debt limit raising trend is not stopped the government could easily go into default and face heightened fiscal crisis. Both the economy and the people benefit from the deficit spending of the government in the short run, however the impacts are not so beneficial in the long run. Economist term federal debt as driving the economy with brakes on, as it tends to slow it down. It is a normal and known behavior that as the debt taken increases; lenders will increase the rate of interest because the risk of not being repaid gets higher with
the growing debt level. This higher interest normally prevents governments from keeping their debts within limits. It’s like paying the minimum interest payment on a credit card at 21% interest and eventually defaulting or going bankrupt because the interest payments have exceeded your income and the debt has increased to unmanageable levels. The long term effects of the US budget deficit will result in the governments inability to cover the benefits promised to future generations. Revenue generated through levying more taxes as the debt ceiling has already been reached will be insufficient. The government has ruled out the possibility of taking on more loans from other countries. In addition to increased taxes, rebates and benefits will also be curtailed to cover the deficit,. This is what is being described as the fiscal cliff and it really is a Cliff over which is a bottomless pit that seems to have no end.
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Another long term impact that is faced by the country is that many countries who lend loans to US increased their US treasury bond holdings considering them a safe haven. Safe and “Risk Free” means low interest on the Loans given to the US. The US foreign Treasury holdings accelerated from 13% in 1988 to 31% in 2011. Countries like China and Japan increased their holdings during the recession period to keep the value of their currency low in relevance with the dollar.
again increasing the interest rates and further slowing down the economy. A lower demand indicates Dollar and dollar dominated treasury securities to become less desired, declining its value. Decline in dollar value also indicates that the debt that will be repaid is being paid in a currency that is less in value further decreasing its demand.
The excessive foreign ownership of US debt is another long term economic recession indicator. The latest information as on Sep, 2012 defines foreigners of holding almost $5.455 trillion or almost one third of the entire US debt. China holds the largest share with $1.155 trillion dollars followed by Japan, oil producing countries, Brazil, Caribbean banks, Belgium, Taiwan, Switzerland, Russia, and Hong Kong respectively. Since all these foreign US debt holders are investing their economy, the demand for US treasuries is diminishing thus
What can we do to escape the effects of fiscal deficit?
These are the broad long term impacts that the US Deficit will have on the economy, if the deficit budgeting is not solved.
1. Making sure that we do not face a deficit on personal level through earning less and spending more. 2. It is clear that interest rates will increase in future, so be wise in your spending and debt levels. 3. In all your real estate investments focus on cashflow and not appreciation. We have learned that cashflow can weather a storm appreciation is wiped away
by the storm. 4. Diversify your income and assets. Speak to your investment advisor about commodities and precious metals. 5. The economic effects will be seen in all areas and sectors of the society. Always be aware of which policy affects you in what way. 6. Finally be ready to receive less spendable income as you will be hit with extended taxes and diminishing of deductions that were previously alowed. Going through the effects of a budget deficit is inevitable for all of us, however through analysis of the situation and strategic planning, a way can be found to diminish the impact the economy will have on our lives and the clients we serve. The opinions express in this message are my own and do not represent the opinions of my employer, the OC Realtist, the National Association of Real Estate Brokers or any affiliate. For questions or comments please email eric.frazier@thepowerisnow.com
your 1/4 page ad here trim size: 8.5 x 5.5” bleed size: 8.75 x 5.75” live area: 8.25 x 5.25”
RESOURCE
SEPTEMBER 2013
THE MORTGAGE INTEREST
DEDUCTION A concern that is looming over the heads of all real estate professionals and home owners alike is the elimination of the Home Mortgage Interest Deduction (MID). Its future is still unclear and the outcome of the debate in congress is likely to have negative impact on Housing and the overall Real Estate industry. In an effort to become more knowledgable about the debate and what may happen to present and future homeowners, I have research the subject. As a Real Estate professional are you prepared to have a discussion about the Mortage Interest Deduction with the buyers you are currently representing; especially as more and more information is made available in the media? This situation reminds me of the time when property values where going through the roof in 2005 to 2007 and real estate agents could only provide one kind of advice for their clients: “buy now or you are going to miss out.� Was there one dissenting voice out there? Did anyone even bothered to understand what a bubble was? The path we are on now seem very familiar because we may be blinded by the opportunity to sell as the buyers are to buy inspite of the potential economic the elimation of the Mid may have on future homebuyers. Hopefull this article sheds some light on the subject and the possible effects it will have on housing and property owners. Home Mortgage Interest deduction refers to the reduction personal income taxes that are paid as a result of paying interest on loans, secured by a second or a principal home with certain conditions. By the way, we take many thing for granted in the US and the mortgage interest deduction is one of those things. MID is not allowed in most developed countries. In the US, the mortgage interest deduction is available but with many limitations and conditions. The first requirement is to elect for itemizing of the deductions, secondly the deduction is only limited to the debt interest which is secured by a second home or a principal home. Thirdly, the interest is deductible on only the initial $1 million debt used either for the construction, acquiring, or renovations of the residence or for home equity debt taken for any use at all. Initially this tax deduction was introduced to encourage home ownership.
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There are other additional incentives also that act to the benefit of homeowners such as homeowner taxpayers are given the exclusion of about $250,000 or $500,000 for a couple that files together related to capital gains. This capital gain is given in case the home was used as the main residence for at least 2 to 5 years before the selling date. This mortgage interest deduction served as a real incentive for home ownership and has played pivotal role in revival of the Housing and Real Estate Industry and the overall US Ecomony. The reason this mortgage interest reduction has been in the news lately is because of the fiscal cliff which has been resolved, but deficit and the budget is still looming over us like ominus black cloud. The deficit and budget negiotiiations by congress ensures the increase of taxes, and the reduction of government spending, which may include the aborting of the Mortgage Interest deduction provision.
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This action will have a negative impact on property values and the real estate business as people will be less likely to become homeowners due to excessive taxes and no interest deduction facility. Mortgage interest has been deducted from the taxes of many home buyers and the savings have been a source to strengthen the income of numerous families besides broadening the housing market itself.With all the comforts it has provided to home owners. President Obama and the Congress, in effort to control the budget deficit will likely need to eliminate the deduction as part of the tax increase plan in 2013. With all the comforts it has provided to home owners, President Obama and the Congress, in effort to control the budget deficit will likely need to eliminate the deduction as part of the tax increase plan in 2013. Many econominst believe, given the present scenario of the deficit, that it is better to remove all deductions on fixed revenue rather than to increase the marginal tax rates. Higher taxes may mean people will have less for investment and savings, that they will cut back on spending, and much more. The list is pretty long regarding the ecomonic consequences.
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SEPTEMBER 2013
This mortgage interest deduction will affect high income earners the most though low income households will also feel the effect. According to figures given by the Reason Foundation in 2010, the households that realized $83 billion of mortgage interest deductions in the year was mostly enjoyed by high income earners. Also see if there is any data regarding the taxes being paid by renters vs. homeowners? I am wondering if the taxes being paid by renters is greater than taxes being paid by homeowners and is it fair it homeowners are in minority and renters are in the majority. Please research and see what you can find. Please site all sources. What can be done to avoid bearing the effects of change in mortgage interest deduction? 1. Some people may want to wait for a definite decision on the matter and then decide on buying a new property. This is not what we want to hear as lenders and realtist but it’s the truth. 2. Sellers should review their present interest deduction to know where they stand presently. Paying more principal and eliminating debt may be a better alternative to taking on debt to lower taxes through an interest deduction that is at risk. 3. Potential buyers may also benefit from the lowering of property values as much as 15% due to removal of deductions and the typical distress buyers in the market who wants something for nothing. 4. Removal of deduction will affect expensive houses most, so any buying decision should be postponed until a clear decision arrives relating to deduction removal. I know that this is not what you want to hear but for people who looking to move up and just need more room this may be their time. As Real Estate professional we need to provide our clients with objective unbias advice as it relates to the purchase of any property. All transaction decisions should take into account the final outcome of the MID by Congress that will start in the New Year. Your clients should calculate how much the property will actually cost them after the deductions and taxes are paid in order to make a more informed decision. Remember to have them consult with their CPA. The opinions express in this message are my own and do not represent the opinions of PrimeLending, the OC Realtist, the National Association of Real Estate Brokers or any affiliate. For questions and or comments please email eric.frazier@thepowerisnow.com.
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RESOURCE
IS IT TIME
to sell?
SEPTEMBER 2013
What would you think if I told you that you could make up to $250,000 and pay absolutely no taxes on that income? Would you be interested? Of course you would. So tell me more please. It seems we have forgotten over these past few years about equity in real estate. All we hear about is short sales, foreclosures, loan modifications and people in trouble. Well, depending on when you bought, say 2009 or after. Or if you bought before 2000 and have not done a cash out re-finance, YOU HAVE EQUITY! That’s the good news. But the better news is if you sell, the equity you have is not taxed! You can take that money and sock it away, or reinvest or retire and move to Italy. So, let’s think about this. The market has never been more aggressive. Prices are up all over California as much as 40%. How long will it last? Is this 2006 all over again? Do I sell now and hold the money, or rent, or move to another house that you own that maybe you are renting out? I just spoke with a lady who wants to sell and retire to a small beach town in Mexico. When she gets back we are going to put her house up for sale and she is outta here. What is your desire? How about using your equity to buy another property. Your Dream Home. Or you want to “right size” your home. Maybe you bought when you had no kids and now have three. You need a bigger house. Or you bought when you had three kids and they are all out of the house now. Maybe you can buy that cute little California Bungalow and fix it up. Maybe you keep that house and rent it out and hope the market goes even higher. I do think with all the doom and gloom for the past few years people are afraid to make any moves. I think when most are cautious it is time to reach. Be diligent in your approach, cautious in your decision and you will be successful in the end. Bob Irish is a local Real Estate Broker who specializes in Residential Luxury Sales & Short Sales. You may reach him at (951) 313-6080 or (951) 343-3606 Lake Hills Realty DRE#01364068
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RESOURCE
SEPTEMBER 2013
HEADLINE NEWS WITH
Bubba Mills R
ecently, The Power Is Now interviewed Bubba Mills, Chief Operating Officer and Managing Partner for Corcoran Consulting & Coaching who shared some great insights regarding the latest issues affecting the real estate industry. It was a very informative interview and a lot of the listeners tuned in to the broadcast over at The Power Is Now online radio were able to learn a lot from the discussion. Among the topics covered during the interview ranged from the state of the industry as a whole, the Mortgage Relief Act, home prices and the increase in rental demand, how holiday buyers are having a higher conversion rate and the Real Estate Dominance Bootcamp to be held from February 6 to 8, 2013. Bubba Mills is a real estate expert who promotes best practices in the development of innovative ideas in real estate owned (REO) asset management. He is an outspoken advocate of compassionate REO disposition and corporate responsibility. He was a former REO Operations Manager for Financial Asset Services and has held positions as a High Risk Loss Mitigation Manager for Option One Mortgage, Mergers and Acquisitions for WJ Bradley, Wholesale and Retail Operations for First Magnus/Charter Funding and Pool Sales Department for
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four major companies. He currently serves on the Asian Real Estate Association of America (AREAA) Advisory Board, the National Association of Hispanic Real Estate Professionals (NAHREP) Board of Directors, Women in Default Services (WinDS) Education Committee and as a member of the Connecticut Mortgage Bankers Association (CMBA) Education Committee. He is also the Exclusive Five Star Institute REO Certification Instructor. Part 1. THE STATE OF THE INDUSTRY Q: What is happening in real estate? A: The September edition of REALTORSÂŽ Confidence Index published monthly by the National Association of Realtors (www.realtor.org) has some very interesting statistics. It states that the average number of homes sold every day in the United States is 13,205. Of those numbers, 31% are first-time homebuyers while 18% are investors and 27% are all-cash buyers. This means that all-cash buyers are almost equal in number to first-time home buyers. There are a lot of things happening in the real estate market including uncertainty with consumers, instability in employment and continued restrictive mortgage availability with tight underwriting standards which continues to be a
problem among real estate agents. A quick look at the real estate market will reveal that the housing industry is in the biggest crisis that it has ever been in. First, there was a huge mortgage boom and then the industry went into an REOdominated marketplace. After the robo-signing scandal, the Mortgage Electronic Registration Systems (MERS) and now the Attorney Generals settlement, the industry is now in a short sale distressed market. VALUE OF SALE BY CATEGORY Being in the industry for 24 years now, I’ve done the traditional, short sale, REO, property management and evaluation and the one thing we have to look back on are the indicators that show the value of the house which is something that banks look at, as well as consumers. The percentage of value for a house on a non-distressed sale is 100%. On the contrary, a house on a short sale is only 87% of value while a foreclosure is 81% of the value of the house.
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Q: Are these numbers based on what has happened in the past or is this just an assessment of the situation? A: These are statistics based on the September edition of the REALTORS® Confidence Index report published by NAR. In other words, a house worth $100,000 on a non-distressed sale is worth $100,000. On a short sale it is worth $87,000 while on a foreclosure it’s worth $81,000. Q: Why are a lot of foreclosures being held up? A: There are several reasons why foreclosures are being held up, including the recent Presidential election and the winter moratorium among others. But at the end of the day, the banks are not in business to own houses. They are there to make interest-bearing loans and that is where they get their money back on. The main reason why a lot of the banks are offering huge amounts of relocation assistance or cash-for-keys is because they know that a short sale is worth a higher value to them vs. the risk of a foreclosure or an REO. In addition to that, the property is also in a better condition than it is as an REO. They also don’t have to assume the responsibility with the home owners associations, the vacant property registration, eviction process, the SCRA and many
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SEPTEMBER 2013
other expenses associated with a foreclosure that is why short sales are getting easier and easier today than they were two years ago. Q: Do you think that real estate owned properties are going to go away completely based on the fact that short sales are getting easier plus the relocation assistance is becoming more attractive to more and more people? A: No, I don’t think real estate owned properties will ever go away. There were foreclosures in the 1960’s, 70’s and the 80’s. Any time there is credit there has to be bad debt because that’s just a part of life. However, we’re not going to see something like 2008 or 2009 when huge amounts of properties were being released. The truth is that banks want the consumers to have a dignified exit strategy that is why they are pushing for short sales. Banks don’t want to foreclose because that is not their intent. They would rather help somebody with a dignified exit strategy out of the mortgage that sometimes should have been funded. The banks want to be the preferred mortgage and lending institutions for the communities and taking away people’s properties will not help their businesses.
Q: As short sales continue to grow, what is your advice to real estate agents who have significantly invested in REO business and how should they be transitioning their business? A: COACHING My advice is that they do coaching on multiple pillars. Corcoran Consulting and Coaching’s philosophy is we do not teach or coach on one pillar. It’s a failed model especially in the REO business. We require our clients to have multiple pillars in their business or that they let us coach them through multiple pillars of their business. We are the only coaching company in the United States that coaches traditional, short sale, REO, and property management with one coach for a client. We do not only coach our clients to become rainmakers or team leaders but we also coach all their buyers agents and listing agents. We are a very, very hands-on, hightouch coaching company. ALL ABOUT PERSONALITY Transitioning from REO to short sale is not difficult, depending on the person’s personality. Most successful REO agents are very detailed, analytical and task driven.
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The traditional agents however are not as task-driven and focus more on the aesthetics and the traditional side of selling, going to open houses and doing outreach. In today’s short sale market you need to have a blend of those two. You need the traditional side and the REO side to blend in the middle. That is why an office is very successful when they have multiple pillars that they can rely on – traditional, short sale, REO and property management. Q: Based on the statistics regarding the average number of houses sold everyday, what actions should agents take right now as they adjust to the current state of the industry? A: CEO LEADERSHIP TRAINING To be able to adjust to the current state of the industry, agents must undergo CEO training. A lot of agents say that they don’t need to go through CEO training because they are just agents. But when asked if they are W-2 or 1099, majority of them will say they are 1099 which means self employed. If an agent is self employed, it means he or she is the CEO of his own company even if the agent is working for a franchise. What that also means is that they need to do a business plan or a contingency plan.
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SEPTEMBER 2013
PLAN AHEAD A prime example regarding the importance of having a good business or contingency plan is what happened after Hurricane Sandy. Those that had contingency plans had redundant backup systems. A lot of their data was stored in the “cloud” instead of just using backup hard drives installed locally. They also have established relationships with people across the United States that they can turn to for office spaces in different states that were not affected. These businesses that had contingency plans were up and running in 4 days. So it is very important to plan ahead and work on your business. That’s how you make it through. Second, an office must offer multiple pillars in the business plan. We saw the mortgage boom coming as well as the REO-dominated market. We also knew during the REO that short sales was going to come in. What’s going to happen after short sales? It’s called traditional. So it is very important to be working on all pillars to be able to cope with the industry no matter what the predominant real estate market is. Third, all REO agents need to have a bi-side. Agents need to be able to have somebody handling the IVR leads or 1-800 leads. Take the leads that are coming off of them and quit giving them to other people
for 25% referral. It’s imperative to work on your business and what’s going to be happening in the next quarter because banks are cutting back as well as Fanny Mae and Freddie Mac. We went from 15 asset management companies from Fanny Mae to zero in one year. Bank of America went from 12 outsourcers to 8 and those numbers are just going to be a lot lower by the end of 2012. GET CERTIFIED Before building a short sale department, the first thing to do is to get some type of certification. Multiple banks recognize different certifications. The four most popular certifications are Equator Short Sale certification, Short Sales and Foreclosure Resource (SFR) certification by NAR, The Five Star Short Sale certification, and Certified Distressed Property Expert (CDPE) certification. Fanny Mae and most of the GFCs recognize the SFR certification. Most of the banks and asset management companies outside of the GFCs recognize any of them. And so the reason why I stated all of these is because the stressed property liquidation statistics show that year-onyear, short sales are up 12.4% from September of 2011 and foreclosures are down 16.1%. That is a swing of 28% which is a very big difference.
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Q: I think no one really saw it coming, but don’t you think real estate agents should have anticipated it? A: When we coach our clients, we tell them that they should be able to see the writing on the wall today to be able to talk to their consumers. INTEREST RATES Things are changing almost every day and one thing that has changed significantly is the interest rate. Statistics have proven that 1% interest rate change equals almost 10% of the value of a house on a 30year amortization. Basically, paying a 1% higher interest rate means that in 30 years, you’ve paid 10% more for that house. So why aren’t customers buying today? Eric S. Belsky, Managing Director of Joint Center of Housing Studies at Harvard stated, “The surveys consistently find that the overwhelming majority of young adults plan to own a home in the future. But many would-be buyers have stayed on the sidelines waiting for the job outlook to improve and house prices to stop falling. But as markets tighten, these fence-sitters may begin to take advantage of today’s lower home prices unusually low mortgage rates.” Unusually low is not the word for it. If you look at 2003 compared to 2012 on a $100,000
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SEPTEMBER 2013
mortgage in 2003 your principal and interest payment would be $609 compared to $443 today based on 3.4% interest. SEE THE BIG PICTURE Projections are saying we’re going to go up 0.9% to 1.2% in the next year. What’s the cost of waiting a year? On a $200,000 mortgage today at an interest rate of 3.5%, that would be $898.09 principal and interest. By the 4th quarter of 2013, that would go up to $1,025.96 because market analysts predict that the interest rate is going to go up to 4.4%. That’s a difference of $127.87 a month on 30 years or 360 payments. HOME INVESTMENT AND THE AMERICAN DREAM A lot of statements out there talks about home ownership as what the American dream is all about. Well, I disagree with that. The American dream is true - it’s freedom and the next American dream is home ownership. Truly I would rather give up my house and have freedom in the United States than I would being a home owner, so that’s my take on that. Everybody talks about investing and how you lose money on your but here is an example that I wanted to share. If you took $100,000 and invested it in January 2000, what would it be worth today? If you invested it into the Dow, you will get a
22.8% profit. If you invested it into the S&P, you will get a 3.3% profit. If you invested it in the NASDAQ, you would lose 20.9%. If you invested it into real estate, you would make a 44.6% profit. A light example: I bought a house in 2001 for $281,000. In its prime it went up to a mid $500,000. About 9 or 10 months ago, my next door neighbor did a short sale for $399, so I got a $118,000 profit in 11 years. The difference is that I didn’t use my house to bank a house like a lot of people did. When you buy a house, you stay in the home. Its longevity and interest will give you the bearing overtime. You’re buying a house as a home for you, your children and your family. Don’t look at interest rates. Don’t look at whether if the market is increasing or decreasing because that is your home - your house over your head where you raise your kids and your grand children in. If you’re into the investment market then of course you’re going to watch for interest rates, price values and everything else on a daily basis. Part of the American dream says “home” ownership. It doesn’t say “investor” ownership but “home” ownership - not “house” because home is where you lay your head at. So look at the big picture.
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you can look at but if this is not passed, people will stop paying for their mortgages. They will just draw this thing out for another year because they know that banks will not foreclose and then after that they can get money to get moved out of the house. There are so many different hypotheses that one can use on this but at the end of the day, it has given people more help. If this is passed, it just shows that the government is sort of giving back a little bit. If the government quits giving back, consumers will also stop giving to the banks. That’s what it all comes down to because in a lot of situations it would literally be cheaper for a consumer to stay in their property, not make a mortgage payment because they know the banks are not going to foreclose. That will give them another 12 to 14 months and then after foreclosure, there’s the eviction process which would add another 3 -4 months depending on what state you’re in. Literally, they can live mortgage free for years and save all that money and pay cash for a house at that point. So I think the banks realize that and I think Congress realizes that too - that there is a benefit there. I don’t see how the Relief Act is not going to be extended, Q: What do you think will either in whole or under the happen to the market if it is extension that was written in not passed? the Family and Business Tax Cut A: There are a lot of things that Certainty Act of 2012. There has
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Part 2. THE MORTGAGE RELIEF ACT Q: What is happening with the Mortgage Relief Act? A: There are 41 State Attorney Generals who are calling on Congress to extend the Mortgage Relief Act. There have been so many different statements made but basically the most powerful ones are, “Failure to extend this tax relief would hurt the very families we set out to help in the national foreclosure settlement. We need to do everything we can to encourage—not deter— struggling homeowners to seek help to stay in their homes,” said Illinois Attorney General Lisa Madigan. Iowa Attorney General Tom Miller said, “Unless Congress acts, any debt relief to be provided in 2013 under the National Mortgage Settlement as well as other mortgage debt relief program will likely be considered taxable income.” More than 4,000 homeowners have received mortgage debt relief for an average savings of $67,450 per home owner. There is already an extension filed and it’s included in the Family and Business Tax Cut Uncertainty Act of 2012. It has passed the Senate Finance Committee with bipartisan support.
to be at least a forgiveness of the taxable income portion to be able to incent consumers to get out of their properties with a dignified exit strategy vs. draining the banks into this long foreclosure process.
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Q: How long exactly does it take to get people out of their homes? A: In some states it’s 600 days - that’s a year and a half and it’s getting longer and longer. However, a lot of the banks don’t want to foreclose because they want to offer incentives to consumers. They give the homeowner an option to sell the house and not get taxed for the difference. In addition to that, the homeowner gets a $30,000 incentive to move out. That is a great deal for someone to move out of something that he or she is not paying for. But looking at the financial side of it, $30,000 is probably a third of the cost that it’s going to take to foreclose against the property because the bank can now get that debt off their sheet and use funds to be able to get interestbearing loans vs. having to pay for HOA’s, tax violations, and the vacant property registrations, among others. There are a lot of costs associated with an REO and that’s why financial institutions are increasing the amount that they’re giving to consumers and giving them a dignified
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exit strategy to be able to fulfill their debt to the bank. It’s not the bank’s fault that they can’t pay. There are a lot of people in the banks that are getting laid off because of the recession too and today’s recession is not based on FICO score. It doesn’t matter if you’re 480 or an 800 when there are no jobs, it doesn’t target a FICO score – it targets an industry.
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of the investors would want to sell those properties. 3. It brings buyer leads. The people that rent in those properties are future buyers especially if you’re helping them with FICO score training, credit counseling among others. It is basically incubating your own leads while making money doing it. Q: You mentioned that there Part 3. HOME PRICES AND are almost as many investors AN INCREASE IN RENTAL or cash buyers as there are DEMANDS first time home buyers. Where Q: What can you say about the should agents focus their current home prices and the business at – cash buyers or increase in rental demands? finance buyers? What is your A: It has been about a year that recommendation? they said that there’s going to A: We work on all pillars at the be an REO for rentals, short same time that is the reason sales for rentals and investors why Corcoran Consulting will be buying huge bulks of and Coaching coaches 43 of properties. We kept hearing the top agents on the Wall about all these things and really Street Journal list. Don’t focus nothing came into place. attention anywhere. Work on I’ve been reading articles that a business, not in a business, have been coming out because that’s what it comes down to. we do property management When acting like the CEO of the coaching along with short sale, company you have to work on traditional and REO. I’ve got the business and hire people to several coaches on this and we work in the business. Hire a sales look at data analytics in a lot of manager to run the traditional different areas. side, an REO manager to A housing report published in do the REO aspect and get November by Mark Fleming, another license to be able to chief economist with Corelogic do property management. Act states, “A full housing recovery 1. It gives monthly income like the owner of the company will be driven by a healthier from the percentage of the regardless of whether you’re a economy, fundamental monthly rental. stand-alone agent, a brokergains in income growth and 2. It gives future sales. When owner or a franchise owner. consumption, and an ongoing the market comes back, a lot
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increase in home prices. Until then, single-family rentals are capturing more consumers’ attention. In fact, rental leasing volumes rose each month for the past two years, according to CoreLogic. On average 42,000 new rentals were added to the supply during that period. That’s double the average flow prior to the recession.” That is why property management is an awesome pillar to have in the business. The report goes on to say, “Overall, data by CoreLogic shows a housing finance system that’s experiencing fewer defaults and foreclosures overall. The share of outstanding mortgages recorded as seriously delinquent or in foreclosure fell to 6.7% of all mortgages in September. That is down 10.2% from a year ago and marks a full 23 consecutive months of delinquency declines. About 1.3 million homes, or 3.3% of all homes, went through a completed foreclosure in the yearlong period ending in September. That is down from 1.5 million during the same period a year earlier.” In short, property management does several things for a real estate company:
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Focus your business on a 4040-20 of the market. That’s 40% of the time on traditional sales, 40% of the time on short sale and 20% of the time on REO. Hire a property manager to run the property management portion and don’t be afraid to delegate and trust other people. Run the company like a company and effectively delegate to be able to work on the business. Q: What’s the typical excuse in your coaching experience, for people not wanting to make even a significant investment to bring on an assistant,
SEPTEMBER 2013
a property manager or a buyer’s agent and how much are you really giving up when you do that? A: The biggest excuse is that they don’t have time. Time is an acronym which means That Is My Excuse. A lot of people use that as a reason to not do something. The next excuse is that it costs too much. How much money does a buyer’s agent cost if you are the broker? That’s 50% commission if you sold and listed the property. You did not have any out-ofpocket expense because agents are paid on success.
Would you rather give 50% of your income to somebody else who’s going to do all the work on it and get 50% versus you getting a 100% but only being able to do so much? I’ll take 50% of 5 people vs. a 100% of me anytime. So there are no excuses. People allowed themselves not to do that business adventure because they didn’t have time. They chose not to hire someone to work with them because they didn’t want to give up 50%.
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Basically, people need to understand that they are the biggest problems and it’s all about letting go. Let somebody else do it, granted you have to train them and give them the tools and resources to empower them. If you can’t empower them to make decisions, you can’t hold them responsible for their actions. Q: There are a lot of independent agents out there who are struggling, not making any money and getting discouraged. So why aren’t more agents teaming up? What is the philosophical world view issue? A: Have you ever heard of the term “ego”? Ego stands for Edging Got Out. A lot of people let their egos get in the way. They can’t do business for an individual because they are either scared or threatened. Don’t let things get in your way. You can individually change a community’s value by doing the right thing – implementing
the right systems, acting the right way. Working with moral values and integrity are two of the most important things as well as doing the right thing not only for the consumers but for the community, the banks and for the investors. We can get through this together as long as we stick together and not point fingers at other people. Take responsibility and play your part in the role. Part 4. THE REAL ESTATE DOMINANCE BOOTCAMP Q: Lastly, what is the Real Estate Dominance Bootcamp? A: The Real Estate Dominance Bootcamp is a 3-day educational bootcamp with an attendance of 300 people in one room with all the sponsors and the speakers. Attendees do not choose where they want to go. The asset management companies and the banks all give one hour education and the attendees can interact with them and ask questions. There are no panels listening to three minutes of opinion from one
bank versus another. This year, we are teaching traditional, short sale, REO and property management. No matter what area of the country the attendees are in, the tools and the resources from this bootcamp is going to teach them how to dominate their competition. It’s going to teach them how to put multiple pillars into their respective companies. Besides Corcoran, we are going to have banks, outsourcers and some of the leading industry speakers at this event. All the food and networking reception with open bars for an hour and a half is included in the registration. The registration fee however, does not include airfare and hotel. This is going to be held at the South Point Hotel Casino and Spa and Resort in Las Vegas, Nevada on February 6-8, 2013. Registration fee is $749. Visit www.corcorancoaching.com or call 1-800-957-8353 for more details.”
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THIS IS
HOW
YOU PLAY TO YOUR STRENGTHS By Brandy Mychals and Vinca Heart of BrandyandVinca.com
When we work with our clients we make sure they know their OWN Character Code and Money Code inside and out, including their strengths, challenges, dreams, fears, quirks and so on… The Character Code focuses on people’s inherent behavior and communication style. With the Money Code we delve into how, why and when people ‘buy’. In this article we will be focusing on the Character Code. With the Character Code you can actually predict, in seconds, how potential clients will react to what you say, and what people are thinking about you, even if you are meeting them for the first time! We call this turning bias into business. So what is the Character Code System? The Character Code System is a fun and business savvy system. You may have heard of other personality typing systems such as Myers-Brigg or DISC. What is unique about our system is that not only is it visual, fun and easy to learn, but even more importantly, it is fun and easy to use and to talk about! To give you an idea of how lucrative it can be for your Real Estate business to incorporate using personality typing systems like the Character Code and Money Code we are going ask you to jump into the system feet first with this lightning quick overview of the Character Code and then we will let you know how you can learn more.
As you continue reading, you will see that the system is also very intuitive to begin using immediately. Here are just a few tidbits to get you started: There are six Character Codes and when it comes to how they think, feel and take action like buying or making major business decisions, there are three fast Character Codes and 3 slow Character Codes. The fast ones- Class President, Cheerleader, Actor. The slow onesScholar, Activist, Artist. So what does this mean for your transactions, sales, and even scheduling viewings with potential Clients? It means don’t drag your feet when a Class President is ready to buy, because they will “lose faith” in you and think that you “don’t know your stuff”. Conversely, don’t pressure an Activist or a Scholar in a major investment decision. The Activist needs time to “feel close to you” and the Scholar needs time to pour over the details. If you unnecessarily rush them they will think that you are “only about the money”. With any Character Code or Money Code, if you they lose their faith in you, you also lose the sale. When they leave, they won’t come back and they won’t be a great source of referrals for you either. See how valuable it is to really know who is standing in front of you? Let’s continue! What do you think about the names of the Character Codes? Remember how we mentioned the system is visual? We are sure that a pretty clear image pops up in your mind when you hear the words, for example, the Cheerleader vs. the Scholar. Which would you rather invite to dinner? Which would you rather do your corporate taxes? No, this isn’t a quiz—the answer is completely unique to you. This is another benefit of knowing the Character Code of your potential clients. You are able to make your presentation uniquely customized to them because, lets be real, when it is time to make a buying decision or choose a Real Estate Professional to help you make a transaction, no one likes to feel like just another fish in the sea. Think of your three closest business colleagues, friends or family members If you had to guess which Character Code which would they be? How about you? Okay here is another tidbit.
The Class Presidents think fast, like to receive their information in bullet points, and make no-nonsense “getthings-done” kind of leaders. The Scholars highly value predictability, reliability and don’t really like to listen to long drawn out stories, give hugs, take time (away from work!) to connect emotionally or “chit-chat” with others. On the contrary Cheerleaders, Actors, Activists and Artists look completely different and they thrive on fascinating conversations. they often prefer to let someone else handle the details and the numbers! It is all about how you make them feel! One exercise that our clients love to use after we teach them the Character Code, is what we call the Strength/ Challenge Sheet. You are reading this article in hopes of enriching your self and your business, right? Excellent! We are excited to help! Play along with us won’t you? Take a sheet of paper, draw a line down the middle and on the left and list all of your strengths. For example, if you are a Class President your list might include: decisiveness, driven, taskoriented, strategic, logical, pulledtogether presentation, confidence… On the right hand side we would list all your challenges. Continuing with the Class President example this might be: patience, tolerance, forgiveness, vulnerability, sensitivity, nurturing… In reality, the two columns would be much longer, more detailed and individualized for the client. For the purpose of a general example, this will suffice. Then we would evaluate the two columns and use this information for making decisions that allow you to play to your strengths.
#1 tip in this article? Focus on setting up life around your strengths and asking for help or outsourcing for your challenges. If you must handle all your challenges on your own, then you do so with understanding, kindness and patience for yourself and always allow for a longer timeline when dealing with items in that column. Let’s say we have a Class President that likes to help people and is considering a career choice between working as a therapist or in the criminal justice system. The criminal justice system would be more of a natural choice when considering strengths (decisive, logical, driven, confident). Working as a therapist would be more of a challenge (impatient, less sensitive, less nurturing). The same could be said about the choice between becoming a Realtor vs. an Investor. Consider the same analysis when connecting with clients or strategic alliances. You CAN connect with anyone using the Character Code system and we encourage you to use this system to be kinder to yourself and others You can learn more about the Character Code by reading Brandy’s bestselling book, How to Read a Client from Across the Room (McGraw-Hill). You will see everyone you meet in an entirely new light and it will be a great advantage to you. You’ll learn to “read” and anticipate the needs of your potential buyers, business allies and even your family. For instance, you may be able to see the Character Code at play in your teenage son’s and daughter’s attempts to buck the system, and realize thier weaknesses (we call them challenges) are unique to their Character Code, not just a blatant attempt to defy you! Okay, back to business and the exercise we had you do… We really do believe in playing to your strengths! Here’s an example of using the Character Code system in a networking situation: You attend a Chamber event and want to promote yourself and your business as a “go-to-guy/gal” in Real Estate, an expert. You are a Cheerleader/Class President combination and have determined that your ideal strategic partner is the same. (Always better to search for strategic alliances at a Chamber event than actual clients/customers. Think past ONE sale versus the 250+ people the strategic alliance will know…) When you arrive at the Chamber event, quickly scan the crowd. Although you can connect with everyone, you are going to be strategic in who you talk with in order to save time, energy and increase your odds of experiencing a genuine connection. You’ve learned to Read Your Client (or potential Strategic Ally) from Across the Room and they’ll be glad that you did! After all they also are there to meet you! In the above example, skip by every Actor, Activist, Artist and Scholar. When you do see a Class President, Cheerleader or combo of both, introduce yourself and begin a conversation. Chances are you will be speaking the same language…
Brandy Mychals and Vinca Heart are award-winning coaches that know what it means to attract the right clients and build unstoppable business success in record time! Together they are known for their big hearts & behind-the-scenes savvy to make the impossible not only possible, but a way of life! Take the Character Code quiz to find your ideal client at www.tinyurl.com/powerisnowquiz Want to find out which Character Code you are? Want to learn more about How YOU can Read Clients From Across the Room? Take the quiz!
RESOURCE
SEPTEMBER 2013
THE US FISCAL CLIFF POLITICAL THEATER HAS BECOME ECONOMIC REALITY
T
he US Fiscal Cliff has arrived and as a real estate and banking professional I want to ensure that my fellow professionals understand what it is, why it is happening and what the consequences are for their clients. Real Estate and lending professionals must be prepared to explain to their clients what is happening if they are their trusted advisors. Real estate or lending professionals cannot give legal advice and should not give tax advice or investment advice. The best advice they can give is to advise their clients to consult with a licensed professional in all areas of law, taxes and even investments. Competence in this area of government economics as a real estate and or lending professional is essential. The US fiscal cliff is a dramatic political term for the description of the economic effects, or in this case the economic mayhem that will arise due to the increasing taxes and spending cuts along with the reduction in the US budget deficit that starts today. The US deficit is the difference between the total revenue collected and the total spending expected. The deficit will decrease almost in half with an increase in taxes and decrease in spending of the government. The sharp cut in the deficit in such a short period is the Fiscal Cliff. These cuts will weigh heavily on the economy. As of now we are over the cliff. If changes do not occur before the first business day of 2013, serious effects will hit the economy, including pushing it back into recession. The laws that changed at midnight on New Year’s Eve include: • Ending of rebates that provided business breaks, • Implementation of certain new taxes introduced by President Obama relating to the health care law, • Shifting to Alternative Minimum Taxes; which takes the largest share of the effects, and • Ending of the impermanent payroll related tax cut Along with aborting of rebates, and the introduction of several new taxes, the government’s spending cuts will take effect as a component of the 2011 debt ceiling deal which will bring in effect slicing of expenses in over 1000 different programs by the Government. These programs include sensitive areas such as the Defense Budget and the Medicare. These sensitive areas are predicted to endure deep cuts in allocations that will automatically take place at the start of 2013. Current negations call for the sequestering of these sensitive areas for the next two months. The fiscal cliff will have a serious impact on the moderate to low income families. The fiscal cliff will have a serious impact on the moderate to low income families. Though the expiration of all tax cuts introduced in the Bush Era will affect the Federal income taxes for all income levels, low level to moderate income families are the ones that will be most affected. The law introduces removing many key items such as the 2% payroll tax cut, the Alternative Minimum Taxes (AMT) and the extended unemployment insurance benefits. All of these programs are vital for economically susceptible families.
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To top it off, the US budget will decrease by $100 billion in spending cuts. The spending cuts and the tax increases with effect of fiscal cliff will result in the US economy enduring a financial blow of $500 billion dollars. This is almost 4% of GDP. The only option to overcome the hazardous effects of the fiscal cliff on the country’s economy is to strike a balance between the tax revenues and the spending cuts, of which the Republicans and Democrats cannot find common ground. The speaker of the House of Representatives, John Boehner presented a Plan B to work in place of the already designed Fiscal cliff which addressed levying of taxes on incomes more than a $1,000,000 in place of the $400,000 set by the present government. So far it looks like $400,000 is the compromised number. $400,000 in annual income represents only 1% of Americans. President Obama would like number to be closer to $250,000, but it is a battle he cannot win at least now and the President and Congress are out of time. We have a President that has nothing to lose other than an approval rating and Republicans who seem willing to go over the cliff for a Political and philosophical victory. Unfortunately, to the world Republicans and Democrats look irresponsible for allowing time to expire, and now must face the possibility of defaulting on US debts. The Republic’s will lose everything they are trying to hold on to and Democrats will be crying about significant reductions in entitlements because they both are blind by politics and can no longer see “The People” they serve in this debate. The solution to this crisis is straightforward and is achieved every day in most households in the US. We must find the balance between spending and revenue. The lesser the revenue side, the more the spending cuts. The critical aspect of the issue is that increasing the taxes bears severe results on the low income families, whereas increasing the spending cut also involves programs that are crucial to lower income communities and families, thus affecting them again. These programs include cutting in Medicaid, Food stamps and health coverage through new Affordable Care Act. We need a path that will bear minimum effect on these income groups. Other income groups too will see the effects on their earnings with a decrease in net income. The immediate effects of the fiscal cliff will have a negative impact on the economy. We will survive it, but it may take two to three quarters of the year to get back on track to a revived economy. Low income groups will immediately feel the loss of the payroll tax. The effects of AMT will start after filing the 2013 tax form in April. The people demand a mutually agreed upon and solid compromise to overcome the worsening effects of Fiscal cliff. These compromises include designing tax increases and spending cuts in a way where the least possible effects can be endured by the economy. Nobody knows the full impact the fiscal cliff will have, but it is here. We have run out of time. I cannot believe it! Political theater has become economic reality. Congress and the President are working to design a path that can lead us out of this economic turbulence. I hope they succeed but what a terrible way to start the New Year.
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This unfortunately may have killed Big Mo and scared Lady Luck away for the New Year. Someone once said that, “how you start the Year is an indication of how you will end”. We have a tradition in my family to start off the New Year with a pot black eyed peas and Louisiana Gumbo for good luck. I need to go into my cultural and family archives and see what else I can find to ward off this evil that is upon us. What should real estate agents advise their clients to do to avoid the harsh effects of fiscal cliff? • Consult with a CPA prior to engaging in any purchase transaction. Have a clear picture of the effects of fiscal cliff on your personal finances. • Stay aware of government policies and laws. Many changes are happening in 2013. Know how they will affect your finances the most and what can be done to avoid them to any possible extent. • All financial decisions should be put on hold until the fiscal cliff, Mortgage Interest deduction and the deficit negotiation. (I know this is not what anybody in sales want to hear) • Review all debt and credit lines. They may be affected by the potential decrease in income due to decreased economic demand. Look for other sources of revenue through diversification that will contribute to your income to bear the effects of fiscal cliff in the easiest possible way. I know that many of these recommendations are easier said than done. I also know that no one in sales wants to say to their client to wait. This is where we are as trusted advisors. We must be objective and provided sound advice. It is my hope that the future is brighter than it looks, but this is where I am in my understanding of the state of the Union. The opinions express in this message are my own and do not represent the opinions of, the OC Realtist, the National Association of Real Estate Brokers or any affiliate. Please direct all questions or comments to me at eric.frazier@thepowerisnow.com.
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SEPTEMBER 2013
Attention Sellers:
SLOW DOWN!!! I
must admit that I cringe when I see a fellow Realtor boasting about a home sold in 5 days over asking. That is Real Estate Jargon for “I listed your property too low”. Sellers, do not fall for that game! Of course you do not want your property to appear “aged” over 3 months, but 5 days! Really? Will you always be wondering if someone was willing to pay more on day 10? Your property should be in the MLS, on the open market for at least one week before considering offers. Here is another “trap” to be wary of… Realtor says “I have a buyer for your house”. 1. There is absolutely nothing wrong with that AS LONG AS YOU ARE IN THE MLS FOR AT LEAST ONE WEEK. “Sold Before Processing” ONLY hurts the seller. Buyer is happy because he got the home he wants with no competition, Realtor is happy to receive the additional commission. Competition, supply and demand insures that properties sell for their true value.
2. Maybe your listing agent offered you a 1% discount off their commission if they “double end”. Hmmm…your property is worth $500,000. 1% commission savings = $5,000. Maybe another buyer would have paid $20,000 more? Save a penny, lose a dollar. Please don’t misunderstand; it is absolutely fine for a listing agent to bring a buyer. It is in the seller’s best interest to have the property on the open marketwhen buyers compete, sellers get more value. Your home is very likely your most valuable asset. Make sure that you trust your Realtor to put your families’ best interest above all else when selling your house.
Jill Rand, Broker, CDPE, SFR, PMC, SRES, ePRO JLM Properties, Inc. (661)510-2112 Direct (661)228-4567 FAX 27201 Tourney Road, Suite 200E Valencia, CA 91355 www.JLMPropertiesInc.com Mail To: Jill.Rand@JLMPropertiesInc.com DRE License #01321107 “Doing the Right Thing is Good Business!”
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Felicia Young Ministries
IMMEDIATE VISIONS:
Community Gospel fest Soul Winning Conferences Prison Ministry, and Women Transitional Homes
With the vision of the ministry, GOD has commissioned her to write her first book called:
Touchdown from Heaven This elaborates more on the struggles of her personal life, and how she overcame certain situations through her personal relationship with GOD. Also GOD has commissioned her to start a gospel CD called “Jesus He Reigns” with an accumulation of artists demonstrating their testimony through song, featuring Shawn McClemore. Purchase: CD @ feliciayoungministries.com or 281-743-0758
Purchase:
Touchdown from Heaven @ authorhouse.com; amazon.com;
barnesandnobles.com; or feliciayoungministries.com With the needs of the nations being critical and crucial, Felicia Young is now available for conferences, speaking engagements, and live performances. She is ready and eagerly awaiting to go out and fulfill the most important aspects of the nation to tell what thus said the LORD.
RESOURCE
SEPTEMBER 2013
HOW LENDER-MANDATED CREDIT OVERLAYS UNDERMINE MISSION OF THE GSES Imagine that you’re a borrower with a credit score of 580 or worst yet no credit at all. You have what the Lenders call alternative credit (rent, utilities, cable & phone bill and etc.). You are employed with a qualified debt to income ratio and have saved a down payment of at least 3.5 and maybe some of your closing cost. On paper, you seem like a perfect candidate for an FHA loan. However, your lender denies your loan application because of your low FICO score or because you have no FICO score. Even though you have met the U.S. government’s requirements for getting an FHA loan, your lender declines to approve your loan because of their credit overlays. This scenario is being played out every single day at all the major banks, credit unions and many mortgage banks. Who is in charge of the guidelines and parameters by which banks can lend? Are the additional credit requirements legal or discriminatory based on federal law? I believe that credit overlays are discriminatory and possibly illegal. What Is a Credit Overlay? Lender credit overlay requirements demand that borrowers have higher credit scores than what the federal government requires. In other words, bank requirements for credit scores exceed what a government-sponsored enterprise (GSE) like Freddie Mac or Fannie Mae mandates for HUD loans. While some lenders defend their right to focus on a credit score as evidence that a borrower can repay a mortgage, HUD challenges banks to examine the totality of a borrower’s qualifications beyond just the credit score. Credit overlays charged by lenders often disqualify borrowers from receiving mortgages. The National Community Reinvestment Coalition has filed a complaint with HUD alleging that at least 22 lenders that administer FHA loans violate the terms of the Community Reinvestment Act, the Fair Housing Act and the Equal Credit Opportunity Act. Critics allege that credit overlays disproportionately deny African-American and Latino borrowers access to FHA mortgages.
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How Borrowers Can Fight Back? Some organizations, like e21 (Economic Policies for the 21st Century) have demanded that Freddie Mac and Fannie Mae transition from GSES into private organizations. In this new role, the two mortgage backers would purchase conforming mortgages and then bundle them into securities that would become eligible for government backing. As GSES, Freddie Mac and Fannie Mae have pursued private profit while backed by the full faith and credit of the U.S. government. GSE standing allowed Freddie Mac and Fannie Mae to take excessive risks. On one hand, Freddie Mac and Fannie Mae pump secondary liquidity into the mortgage market, making it possible for many Americans to receive home loans. On the other hand, Freddie Mac and Fannie Mae receive minimal government scrutiny, and they fail to deliver benefits to American families that need the most help. Instead of imposing strict credit score requirements, lenders that work with Freddie and Fannie should consider the factors that contribute to lower credit scores.
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Lenders should also consider other factors including debt-to-income ratios and future job stability. Recent changes in the HUD guidelines are a step in the right direction, but will lenders adopt these changes in their underwriting guidelines. Lenders need to decide if they want to be in the lending business and if they are prepared to have the reserves necessary for delinquencies, repurchases and foreclosure. It is a part of the business that is never going away and not every Lender is prepared or able to manage the risk. Lenders that are prepared should get all the business and those who are not should consider getting out of the business of securitized lending and relying on government guarantees. There is private equity market waiting for lenders who want to make up their own rules. It is not fair to American people for banks to change rules mandated by congress and the GSES. If a bank changes the rules, the bank should not be able to leverage the good faith and credit of the American taxpayer who pays for the guarantees and the GSES that create the secondary market. Either makes loans according the guidelines set forth by FNMA, FHLMC, HUD, and GINNIE MAE or move into the private equity market where you belong and make up your own rules.
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SEPTEMBER 2013
It is clear to me that credit overlays that include fico scores are just as unreliable as the credit ratings by Standard Poor, Fitch and other credit rating agencies. A closer examination of the risky loans that banks and secondary market took on because of a high fico scores and AAA credit rating by Agencies should give us all reason to pause. Why hasn’t FICO been hauled in before congress and ordered to open up the black box and tell the American people why their FICO is worth more than the paper it is written on? Why should the entire US Lending and Banking system rely on it when it has failed us so miserably in the past? No one is asking the question. We need to go back to the basics when FICOs didn’t exist and rating agencies actually reviewed most of the loans that made up the bonds instead of getting paid for AAA ratings. The corruption, zero oversight, greed and lasciviousness that existed during this time between the rating agencies, banks and investment banks was on a level of a third world country being ran by drug and gang lords in three piece suits. A new kind of gangster that no one thought was possible. This is now common knowledge and nothing has been done about it. No one has gone to jail and that is how a real gangster rolls. Real gangsters never see the inside of a jail cell. Whitepaper Coming Soon To learn more about credit overlays and how they undermine the government’s mission to enable low and middle-income Americans to purchase housing, read the whitepaper I am writing that will help real estate and lending professionals address this issue with their representatives in congress and mortgage banking executives. The whitepaper will be release in next two weeks.
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SEPTEMBER 2013
BUYING PRE FORECLOSURES
Pre foreclosures are known as properties that have reached the final stages before they get repossessed or taken back by the lender or bank. The owner is still in complete control of the property or home, although the bank or lender will repossess the home if the owner doesn’t attempt to rectify the situation. Normally, if the owner makes things right with payment, the pre foreclosure will settle and things will go back to normal. When buying real estate, there are several benefits to pre foreclosures. Although there are several ways that you can buy a home, pre foreclosure is one of the best. Even though it is one of the best ways to buy property, many people miss out simply because they aren’t familiar with pre foreclosures and all of the benefits that come with them. The best thing about pre foreclosures is the prices that are associated with them. In most cases, the owner has no choice but the sell the house, and therefore will listen to just about any offer that he receives. Due to this very reason, you can find pre foreclosures for sale at nearly 50% off market value. This is an ideal time to purchase, especially if you are looking to save a lot of money. Along with the great prices you can get with pre foreclosures, you’ll also have the luxury of dealing
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directly with the owner - no third parties involved. This is a great advantage, with buyers being in total control of pre foreclosure sales. In the event that the home owner decides to turn down your offer and cannot find another buyer, he will lose everything. Even if you offer the owner a small price, he will be able to make a little bit of money selling the home. You can find pre foreclosures that up for sale pretty much the same way that you can find homes in which the bank already has control of. You can look in the local newspaper, on the Internet, or by calling the lender directly. There are several options that you have in terms of finding pre foreclosures, giving you plenty of options. Once you have found a pre foreclosure for sale, it’s up to you to seal the deal and get the home of your dreams at a very affordable price. When you compare foreclosed properties with pre foreclosed properties, you’ll find that there is less competition involved with pre foreclosures. Pre foreclosed homes are a great purchase, as they will normally come at a very affordable price. Those of you who have been looking for a new home shouldn’t hesitate to check out pre foreclosed properties. They are a great investment - and can indeed be very profitable in the long run.
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Unfinished homes present a great way to save a lot of money and get yourself a new home in the process. If you buy an unfinished home, you can keep your monthly mortgage payment low and also lower your initial investment. You may also be able to buy a larger foundation size as well, which you can easily add on to and save money in the process. Normally, unfinished starter homes leave the upstairs area unfinished. The question here, is just how much equity you want to put into an unfinished area. Sometimes though, an unfinished home may leave the roofing, framing, plumbing, or electrical aspects unfinished. Before you make a purchase, you should always decide how much money you have to finish what needs to be finished. If the home you are looking at has plans for a garage, you can save thousands if you decide not to go with the garage. On the other hand, if there is another attached room that is planned to go onto the house, you can save just as much if you decide to forgo it. There are always ways that you can save money just by looking at the plans. Unfinished homes may have other planned on additions as well, in which you can save a lot of money just by leaving them out. The is something that you should always keep in mind. When builders acquire a piece of property that they plan to build a home on, they will do everything they can do make as much money
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SEPTEMBER 2013
BUYING UNFINISHED HOMES as possible on their homes. You might be able to get them to agree to some of these ideas, although they probably won’t agree to all of them. Building homes can be a very profitable business - which is why most companies like to build their homes exactly as the plans call for. When looking at unfinished homes, you also need to look at what banks are willing to accept. If you are planning to get a mortgage, most banks will need to ensure that the home is up to local codes and in living condition. What this means, is that there will need to be a living room, bedroom, and other rooms finished. If the home is lacking quite a bit in terms of being unfinished, most banks won’t give you a mortgage. Most banks are also known to turn down unfinished home mortgages that they feel will have trouble selling in the event that you default. Normally, the entire downstairs area will need to be finished, along with most of the
landscaping. You might be able to do some of it yourself and save money, although in most cases the home builder will need to do a majority of the topsoil and grass just to satisfy the bank. Banks have strict requirements when it comes to unfinished homes, which is why you should always check with your bank before you invest in an unfinished home. As most of us already know, buying an unfinished home provides an excellent way to get into the housing market and get your very own home. Unfinished homes also allow potential buyers the chance to grow into their home along with their family. If you are interested in saving money, you should be sure to talk to the builder. This way, you can go over the plans and decide what doesn’t need to be there. In most cases you can save a lot of money and still get a home that will provide years and years of memories for yourself and your entire family.
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SEPTEMBER 2013
FLIPPING A HOUSE FOR CASH There are a variety of houses in need of repairs out there, and several ways that you can quickly flip a house to net profit. All you need to know are the techniques that will get you the most money in the least amount of time. The second way you can flip a house is though wholesaling. Wholesaling involves finding a home for sale then flipping it to an investor for a fast, yet small profit. To do this, you’ll need to know the real estate investors in your area, the types of homes that flip the best, and how to fund your property so you can flip it to them. If you live in a big area or a city, you’ll find that using the wholesaling method of flipping houses is actually easier to accomplish. The third way to flip a house is by assigning the purchase. Using this method, you’ll commit to buy the house. Instead of closing the deal yourself, you’ll assign it to a real estate investor - of course for a small fee. The investor will take the contract over and close the purchase themselves - flipping
A
lot of people these days are preaching about the buying and holding method of gaining wealth with real estate. There indeed may come a time in your life or business when you’ll want to hang onto a piece of property, although you’ll only be interested in keeping certain types of property. If you’re just starting out, flipping a house may be an ideal way to get started. Basically, there are three ways that you can flip a house, although each one has its own terms, motivation, and type of property. The first method is known as retailing. What this means, is that you buy a house in bad shape, do the repairs to fix it up, then turn around and sell it.
the house. This can be very profitable, especially if you invest in the right home. You don’t need to have your contract worded any special way to be legal, although you will need to determine the assignment fee. If you’re looking to break into the real estate market and make big bucks, you’ll need to learn all about flipping houses. Flipping houses is very profitable, especially once you have learned the basics. The first and third methods are the best, although they will both take quite a bit of work on your part. Restoring homes isn’t easy, and you’ll need to have a team qualified to handle any repairs. Assigning the purchase may be difficult when you first start out, although it will get easier with time. If you stay at it and do your best to make a profit - you’ll be an expert at flipping homes in no time at all. by Ruby Frazier
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SEPTEMBER 2013
Investing In
Real Estate W
hen you are first starting out with investing in houses, you should always look for ugly or bad houses that need a lot of work. These homes are much cheaper to purchase, although they will take some work to improve. You should start out by looking for houses that need some work, such as clean up, painting, and in some cases new carpet. You don’t want to buy something too run down, as it could cost a fortune to repair. If you think of yourself as a handyman and feel that you can do the repairs yourself, you can save a lot of money. On the other hand, if you need to hire someone, you should always make sure that the individual or company that you hire is qualified to do the repairs. If you aren’t comfortable with doing any of the repairs, you should inquire about a subcontractor or company that will do it for a reasonable price, or perhaps a share of the money once you have resold the house. If the house you are thinking to purchase and resell has any
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type of structural problems, you should always get an estimate from a reliable contractor before you make the purchase. If you decide to stay in the business, you’ll learn a lot more over the years, although you should always hire a contractor when you first start out. Once you get all of the estimates together, you can make that final decision on how much of an offer you want to put down on the property. After you have a team together and successfully renovated and resold several homes, you’ll begin to feel quite a bit more confident with buying homes that need repairs. All it takes is time and practice - and you’ll be buying homes that the average investor wouldn’t think twice about. This can be a huge advantage when you are looking for homes to buy and resell, as there will be less competition to worry about. You’ll also be able to get a lower price when buying the home, simply because you can use the cost of the repairs to your advantage.
Once you are able to do repairs on homes, including structural problems, you’ll have a huge advantage in the market. You’ll be able to buy virtually any home, including those that other investors choose to ignore. Doing so can be very profitable for you, especially if the house is in a well-known and well desired neighbourhood. After you have done the repairs, you can resell the home for a much higher price than you paid to acquire the home. When you start looking for houses that you can repair and resale, you should always take your time and buy the right homes. You won’t have the money, time, experience, or support to buy the bigger houses at first, which means you won’t have any room for mistakes. Once you have purchased and resold a few smaller homes, you’ll eventually be able to work your way up to the bigger homes - which is where the big profits will come into play. Always keep in mind that when you first start out, you’ll need to take things slow. You can expect profits to come overnight, as it will take you some time to learn. Once you have been at it a few years and have several houses to your credit, you’ll be ready to tackle anything. At that point - you’ll make a lot of money in a career that is truly exciting.
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SEPTEMBER 2013
FAST-TRACKING
“BLIGHT ABATEMENT” ON ABANDONED PROPERTIES By Lynn Effinger One of the hottest topics in the default servicing industry today is the call by most field services providers for fast-tracking the foreclosure process on vacant, abandoned residential properties. This subject is controversial because today any mention of “foreclosure”, especially when combined with the phrase, “fast-tracking”, evokes negative feelings. That is a major reason why the term “blight abatement” should be considered to replace “fast-tracking foreclosures” in this context. While a rose by any other names is still a rose, action by municipalities and states to deal with the growing problems associated with vacant, abandoned properties should not be held hostage to terminology. Countless neighborhoods have been negatively impacted over the past several years by the blight and other consequences that accompany increased abandonment of residential real estate properties, especially in many inner cities. This situation needs resolution to help communities rebuild and protect property values. Field service providers are the eyes and ears for their lender/ servicer/investor clients out in communities across America. They typically find out first if homes with mortgages in default are occupied or vacant. And in what condition they are. Because Assurant Property Advantage and other field services providers are responsible for inspecting, securing and preserving millions of properties across the country, we know intimately the impact that vacant, neglected properties have on neighborhoods and local economies. Our collective voices have risen recently and are not only being heard, but listened to by municipalities and states who want to find resolution to this sensitive and complicated issue. It is understandable that lenders and servicers, as well as borrowers, would be very sensitive to the notion of “fast-tracking” the foreclosure process on any of their nonperforming real estate assets.
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This is especially true since the federal government took so many steps to try to help prevent foreclosures, such as HAMP, HAFA and other foreclosure alternative programs, including moratoria, encouraging lenders and servicers to avert foreclosure if at all possible. But, while foreclosing on occupied properties should be avoided if at all possible under the proper circumstances, there can be a case made for blight abatement legislation to help accelerate foreclosure on certifiably vacant properties. Decelerating the foreclosure process to encourage home retention for individuals and families is laudable and preferable, but the benefits to speeding up the process on vacant, abandoned properties clearly outweigh any negatives. Understanding this, several states are looking into passing legislation to deal with this issue. During its last session, the Illinois General Assembly passed a bill that could dramatically reduce the timeline on the foreclosure process for abandoned properties from the more than two years it can often take today to as little as 90 to 100 days. Lenders would also be required to pay additional fees to file foreclosure actions which will ostensibly be used to fund homeowner counseling and foreclosure prevention efforts, as well as help offset municipalities’ costs to secure and maintain neglected buildings.
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“One of the keys to the potential success of the Illinois bill will be the foreclosure courts’ ability to push the process through after the lender demonstrates abandonment,” noted Robert Grossinger, who is vice president, national community foreclosure response initiative for Maryland-based Enterprise Community Partners, Inc. “That does not change the fact that states like, New York, New Jersey, Florida, Ohio, and others share the concerns of their municipalities and citizenry regarding the negative impact that vacant, abandoned properties have on their communities, and either have or are considering similar legislation as that passed last December in Illinois.” According to Grossinger and others, there exists a balancing act between protecting property rights of homeowners and the blight and associated costs related to health and safety issues and increased criminal activity often caused by vacant, abandoned properties that has given rise to the growing number of states looking at solutions to the problem. Rick Sharga, executive vice president for Carrington Mortgage Holdings, recently said at the National Property Preservation Conference that foreclosure timelines in general need to be streamlined, but especially with regard to vacant properties. “Extended redemption periods and backed up courts in judicial-foreclosure states are further exacerbating timelines,” Sharga said, noting that these increased timelines add to the blight caused by vacant properties. “The industry should look for opportunities to standardize timelines.”
Another state that must be listening is New Jersey. Senate Bill 2156 is a proposed piece of legislation headed to that state’s Assembly that would allow courts to grant summary foreclosure action when a subject property is certified vacant. As in other judicial-foreclosure states, especially New York, moving abandoned properties through the foreclosure process is quite protracted. This new bill in New Jersey, if passed by the Assembly and signed by Governor Christie, would require that lenders present in court “clear and convincing evidence” that the subject property is in fact vacant and abandoned. With that evidence accepted, the lender would be allowed to fast-track the foreclosure process. Similar legislation, instituted in Colorado and municipalities in Florida, is being watched closely for signs of success. As with much legislation, often what looks good on paper or in theory doesn’t quite work out as planned and sometimes carries unintended consequences. But at least there is light being shined on this issue and people are making strides to find the right solution in their communities. Few would argue that every reasonable effort should not be made to try to keep people in their homes under the right and just circumstances. It is becoming increasingly clear as well that fast-tracking the foreclosure process on vacant, abandoned properties can make good common sense – for neighborhoods, municipalities, states, America and our fellow citizens.
Lynn Effinger is a veteran of more than two decades in the default servicing industry and serves today as business development manager for Assurant Property Advantage, the field services business unit of Assurant Inc., a Fortune 500 Company.
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SEPTEMBER 2013
Wishful thinking about the housing recovery doesn’t necessarily make it so.
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UNIVERSITY
SEPTEMBER 2013
WISHFUL THINKING ABOUT THE HOUSING RECOVERY DOESN’T NECESSARILY MAKE IT SO. By Lynn Effinger Benjamin Franklin is credited as saying, “If a man could have half his wishes, he would double his troubles.” To many experts, well-travelled economists, and others in the housing and mortgage industries today, one need only point to the growing anecdotal evidence (and even statistical evidence) of the upward trend in home prices to declare that the housing recovery is “real.” On the other hand, there is significant evidence indicating to others that the housing recovery could be just so much hocus pocus. Wishing that something is real does not make it so. And just because so many of us want the recovery to be real, prematurely believing that it is could potentially “double our troubles.” With the Fed’s recent announcement that quantitative easing (stimulus) days are numbered, the stock market tumbled more than 500 points in two days in mid-June. For the week ending June 14th mortgage applications fell 3.3% after having risen by 5% the previous week, according to the Mortgage Bankers Association. Mortgage interest rates continue to rise, which is one of the reasons for the drop in mortgage applications. As the interest rates rise, coupled with skyrocketing home prices, more and more potential home buyers will not qualify for home loans. Businessweek magazine reported recently that while interest rates remain at very low levels, they are rising at their fastest pace in a decade. Added to these factors, while the foreclosure inventory now stands at its lowest point since 2008, many experts view talk of a housing recovery as premature “wishful thinking.” At the 2013 REOMAC Educational Summit & Expo in Dallas, respected industry veteran, Rick Sharga, executive vice president of Carrington Mortgage Holdings, gave an informative keynote address that included numerous statistics that certainly seemed to demonstrate that the recovery could be real. Sharga guided the audience through his analysis and
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projections, based on in-depth research gleaned from various industry sources, about where we are in the housing and default servicing industries and where we are likely headed. He was adamant that while several polls and studies have indicated vast majorities of Americans believe the recovery is artificial and not real, he would rather stick to the numbers to paint the “real world” picture on this subject. He hoted there currently exists only one month of inventory in most of California. “New home inventory is absurdly low,” Sharga said. “Foreclosures are down and underwater borrowers can’t sell their homes unless through a short sale. Inventories of distressed properties are also down. This is causing housing prices to climb across the country.” Sharga is not alone in believing the housing recovery is tangible. According to data released earlier this year in the S&P Case-Shiller Home Price Indices, home prices continued their upward swing yearover-year through February 2013, nearing 10%. The 10- and 20-City Composites recorded their highest annual growth rates since May 2006; seasonally adjusted monthly data show all 20 cities saw higher prices for two months in a row, according to David Blitzer, chairman of the index committee at S&P Dow Jones Indices. Despite their belief that the housing recovery is real, many experts admit that foreclosure rates are starting to rise noticeably again following the national mortgage settlement, and too much inventory could impact the recovery next year, but it is too early to know for sure. Some noted economists feel the recovery will resemble a saw tooth, rising and falling somewhat gently over the coming months and perhaps years, according to Sharga.
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Concerns about rising inventories due to financing issues were also a topic of discussion recently when David H. Stevens, president and CEO of the Mortgage Bankers Association, testified before the U.S. House of Representatives Financial Services Subcommittee on Housing and Insurance at a hearing entitled “Sustainable Housing Finance: Perspectives on Reforming the FHA.” Within his testimony, as prepared for delivery, Stevens, noted that the FHA has never played such an important role in the housing market. “Today, [FHA] is the dominant source of mortgage finance for borrowers with low down payments and those without high incomes or inherited wealth,” Stevens said. “Many of these are first-time homebuyers, young families looking to put down roots in a community, and a segment that must be served if we are to grow our economy and sustain the housing recovery.” Mr. Stevens also noted that credit is far tighter than anyone has experienced in decades. “There may be families with good credit willing to put down substantial payments that are being frozen out of the market because the risks of making any mistake are too great,” Stevens said. “The rules of the road are unclear – and often contradictory.” Mr. Stevens makes it clear that failing to make mortgage loans available to moderate-income families could have a negative impact on the housing market, adding to concern that the housing recovery, if real, is quite delicate, indeed. Because there had been a lack of new housing starts over the past several years, with renewed activity in the new home arena prices are rising fastest in this sector. Although trending up in terms of volume of housing starts in many markets, new home sales are miles behind where they should be. Following every other recorded recession, housing has significantly helped bring the general economy back to life. During this historic downturn however it
actually dragged the economy down, and therefore this recovery will probably not behave the same way others have. According to Sharga, some economists feel confident, however, that we could experience as much as another 3-4% increase in housing prices in 2013,following an 8% rise in 2012, the glaring caveat being that the lack of inventory over the last several months is driving price increases today, as is institutional investor interest. While many on the front lines in the housing industry, including real estate agents and brokers, REO asset management professionals and other veterans of the mortgage default servicing industry agree that there are signs of a housing recovery, others remain skeptical. They point to the impact that institutional investors have played in diminishing inventories of distressed properties -- often purchasing them in bulk at higher than market prices since they are buying at lower than replacement cost -- as a factor contributing to artificial increases in home prices. While participation by investors can be healthy for the housing market, speculators can have a negative impact over time. Additionally, of course, there also remains a significant “shadow inventory” of homes that have not been released for sale by many banks. Most industry leaders define the shadow inventory as unlisted REO homes, along with unlisted homes in foreclosure or where borrowers are at least 60 days delinquent. At its peak, this inventory was estimated to be as high as 6.5 million homes. Today it stands at approximately 3.5 million -- still substantial, but decreasing sharply over time. Protracted timelines caused by procedural issues, judicial foreclosures, and in California, new legislation called the “Homeowners Bill of Rights” are what now drives the shadow inventory. That is certainly part of the problem. Another is what is referred to as “zombie foreclosures.”
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Zombie foreclosures or vacant, abandoned properties are a real issue because of the extended foreclosure process timelines. According to RealtyTrac, there are 5,600 of these vacant properties in the greater Buffalo area and over 90,000 in Florida alone. Fasttracking of the foreclosure process on these vacant properties is a real concern for property preservation providers and their lender/servicer clients. Unfortunately, because of the heightened stigma associated with anything related to the word, “foreclosure,” especially when paired with “fasttracking,” municipalities, counties and states are reluctant to address this issue for fear of attracting negative attention in their communities. The reality is, however, that by fast-tracking what I call a “blight abatement” process on vacant, abandoned properties, additional real estate will be available on the market. This helps reduce the negative impact on neighborhoods that vacant properties cause, and helps stabilize communities much faster. While about 90% of the information Sharga presented to the attendees at the REOMAC Summit pointed to an optimistic outlook on the housing recovery, he candidly, and rightly, stated the obvious; a downturn in the U.S. economy could cause negative impacts on the housing recovery. With higher mortgage
interest rates, the very real specter of rising inflation, and continued high unemployment in our near future, many find it hard to imagine the economy improving much, if at all, in the short term. Moving forward, many big banks may well cut back on originating mortgages, and probably focus lending activity on loans that fall within the bounds of CFPB’s QM rules; non-bank lenders may become more active and fill the void. Non-bank lenders (potentially even what is referred to as “peer-to-peer” lenders) will have a wide variety of loan products, but still with stringent requirements. The critical, ongoing debate over the housing recovery will no doubt go on for some time to come. In the end, and perhaps quite soon, we will all know the correct answer. And while the numbers that many experts point to would seem to substantiate claims that it truly is real, Benjamin Franklin’s purported words in our opening sentence should caution us about wishful thinking. Lynn Effinger is a veteran of more than two decades in the default servicing industry and serves as Business Development Manager for Assurant Property Advantage, the field services business unit of Assurant, Inc, a Fortune 500 Company.
UNIVERSITY
SEPTEMBER 2013
TIME MANAGEMENT & CHANGE MANAGEMENT I know what you are thinking right now as a real estate professional. You are saying I am much better than the number of pending and close transactions that I have right now. I am much better than this. I am capable of being more productive and better organized. I would agree with you. We are all working and planning for the day when our production and productivity truly represents who we are as a real estate or lending professionals. We cannot forget who we are when faced with adversity or allow our current production level to define who we are. We are more experienced and talented today as real estate and lending professionals than we have ever been in our past. Nor do we lack the tools we need to be successful at our companies and in our current environment. The environment has changed and is changing again and so it incumbent upon us to adapt to the new environment and develop a strategy for success. We are not strangers to change. Change has always been the catalyst for so many challenges that we have faced in the past and it will be the same in the future. Champions embrace change. They do not run from it they run to it. This is what champions on a championship team do when faced with adversity or changed. They adjust and adapt to their circumstances and create and execute on new strategies for success. This is exactly what our Olympians do when they compete all over the world. They must adjust to the climate, elevation, water, air and the intense competition they face from all over the world. They come prepared when they arrived but while they are there they must continue to make adjustments in their game plan because of the changing environment and the unknown. They must be ready and stay ready for change in
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order to immediately adapt and create new strategies that would allow them to succeed and bring home the gold. So what is stopping you from making the adjustments that you need to make in your business? Are you trying to change your environment? Someone once said the best place for success is right where you are and with what you have. It is not our environment that needs to change. We need to become masters of change. For many real estate agents the number one thing we need to change is procrastination. They have a plan, they know what to do, where to do it and how to do it, but they never get to it. Is that you? The “Power Is Now” suggests that doing something later as opposed to now may have negative ramifications on your business. Sometimes the ramifications of procrastination may not only cause damage to your reputation as a professional but the perception that others have about you may be irreparable. The opportunities that you were working and hoping for are now lost because you do not respect time and the fact that the “Power Is Now” The “Power Is Now” suggest that time is invaluable and cannot be redeemed. You can name the most expensive precious stone in the world or the most expensive car or home and their combined value wouldn’t even move the value meter of time. If time where money there would not be enough paper to denominate it and man, in all of his wisdom, couldn’t create a word that would adequately describe it. If time took some tangle form there would not be a room large enough to hold it. Time is not subject to man or space and has infinite value. Therefore time must be utilized as fast as humanly possible, because the time that is left over can never be used again. Time is not redeemable.
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A Celebration of 10 Years of Student Voices about Digital Learning Speak Up 2003 – 2013 Cocktail Reception Thursday, September 19, 2013 5:30 to 8 pm Haworth, Inc. 575 7th Street NW, Suite 200 Washington DC 20004 Please RSVP to this email In the past 10 years, our nation’s classrooms have been irrevocably changed by the inclusion of digital learning tools and resources such as e-textbooks, online classes, tablet computers, educational games and social media. At the emotional center of this digital conversion of our K-12 classrooms and schools has been the aspirations and ideas of our K-12 learners whose desires for a more social-based, un-tethered and digitally rich educational experience has changed forever the way we think about teaching and learning. With the first Speak Up online survey in 2003, Project Tomorrow created a new national movement to recognize the value of K-12 student voices within education. Since then, over 2.5 million K-12 students (and over 1 million teachers, administrators and parents) have shared their authentic, unfiltered views on the use of digital tools and resources through the annual Speak Up surveys, creating the largest collection of K-12 education stakeholder data. Over the past 10 years, the Speak Up data findings have been used regularly by federal, state and local policymakers to inform programs, plans and policies with a common goal in mind – improving educational opportunities for all students. From the halls of Congress to school board meeting rooms all across the country, the Speak Up National Research Project has provided the catalyst for listening to the ideas of our nation’s most important clients of education, the students. Please join Julie Evans, CEO of Project Tomorrow and the Project Tomorrow Board of Directors to celebrate this 10 year legacy of impact and to applaud the partners and investors who have made Speak Up not only a national research asset, but an important strategic tool for schools and districts nationwide. Your participation in this invitation only celebration would be most appreciated. Please respond to Jenny Hostert at jhostert@tomorrow.org or 949-609-4660 x17 by Friday, September 13.
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SEPTEMBER 2013 Project Tomorrow® is the nation’s leading education nonprofit organization dedicated to the empowerment of student voices in education. We believe that by supporting the innovative uses of science, math and technology resources in our K-12 schools and communities, students will develop the critical thinking, problem solving and creativity skills needed to compete and thrive in the 21st century. We approach our mission through national research projects, the development of innovative career exploration projects in schools and communities, online tools and resources for students, teachers and parents, and national and regional advocacy efforts. With 17 years’ experience in the K-12 education sector, Project Tomorrow regularly provides consulting, evaluation and research support on key trends in K-12 science, math and technology education to school districts, government agencies, businesses and higher education institutions.
PROGRAMS AND STRATEGIC INITIATIVES Speak Up National Research Project:
Our national online research project to collect and report on views of K-12 students, educators and parents about science, math, technology and 21st century education. Over the past ten years, the annual online survey has collected the views and ideas of over 3 million K-12 students, teachers and parents representing over 35,000 schools from all 50 states, the District of Columbia, Puerto Rico and American schools on US military bases worldwide, and represents the largest compilation of authentic, unfiltered stakeholder input on education and technology education. Business and policy leaders regularly use the Speak Up data to inform federal, state and local education programs.
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Innovation in Education Initiative:
Project Tomorrow has two current model projects underway in Southern California to drive economic competitiveness and innovation, and to encourage greater collaboration between all education stakeholders around science, math, and technology. Both projects have been developed for national replication. Innovation in Education Awards – The Innovation Awards are a collaboration between the Orange County Technology Alliance and Project Tomorrow, that annually recognizes educators and students for their innovations in using science, math and technology to solve school, classroom or community challenges. Youth Leadership Summit in Math and Science – The Youth Leadership Summit is a regional convening for high school students to share their ideas on how to improve science and math education in their schools. The Summit also includes opportunities for the students to explore and prepare for the jobs in a variety of STEM industries.
Tomorrow’s Teachers Initiative:
Project Tomorrow is committed to stimulating and nurturing the development of a new generation of K-12 teachers in math and science. YouthTEACH2Learn - high school students interested in exploring a teaching career can participate in YouthTEACH2Learn through an elective high school class or after school program. Both implementations utilize our proprietary curriculum that is modeled after a college education class and provide opportunities for students to develop and teach math or science lessons to elementary students on a regular basis throughout the school year. California Future Educators Association - through student-led high school and college chapters, students can learn about careers in education and youth development, and participate in a multitude of local, regional and state leadership opportunities, competitions, and conferences. Support for the chapters is provided through a comprehensive website with resources for advisors and students.
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7 Best Strategies to
SEPTEMBER 2013
Prevail in a Bidding War
Many real estate markets are experiencing higher buyer demand than supply. In Charlotte, N.C., we currently have a 5 ½ month supply of homes; less than a 6 month supply is considered a Sellers’ Market. A good house in this market will likely receive multiple offers. Follow these strategies to prevail in a bidding war.
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UNIVERSITY 1. Submit your highest and best offer as soon as possible. I am often asked, “Will I get a second chance or will the seller counter my offer?” Probably not, the Seller will likely negotiate with the best offer and reject all others. So, if you really want the home, submit your best offer up front.
2. Keep your offer clean and simple. If you
SEPTEMBER 2013 only give you a loan up to the appraised amount.
5. Write a personal letter to the seller, unless the property is bank or business owned. Tell the seller why you want the home and how you will enjoy certain features.
6. Submit complete paperwork. This includes
don’t need closing costs paid by seller the contract, pre-approval letter and then don’t include that in your offer. earnest money check. If possible, include Don’t ask for personal property. You can a preapproval letter from a reputable always ask for small things lender with the property later, and wait for the home “ “Will Will I get get a address on it. A certified check inspection to ask for repairs. is better than a personal check s second e c o n d Pay for the home warranty for the Earnest Money Deposit, chance? c hance? yourself; they are inexpensive and it should be higher than (typically under $500) and not Will Will the the seller seller the standard for your area. worth losing the house. This shows good faith and your counter c ounter my my commitment to buy the offer?” o ffer?” property. 3. Have your agent call the Seller’s agent to ask why they 7. Your offer should be higher than the list are selling. Price may not be the priority; it price. It should be as much as you think may be speed, flexibility or a certain the home is worth plus a few dollars. Or closing date. Unless you ask, you won’t know what the seller will consider the you can offer to pay $1,000 more than the most acceptable offer. highest offer up to a certain amount. Interest rates are low right now so this additional amount over 30 years won’t 4. If you are able, submit the offer not amount to much. subject to it appraising. This is a volatile market and appraisals are subjective, not scientific. Without this, there is a better chance the deal won’t fall out and the seller won’t have to worry about negotiating the purchase price later. However if you plan to finance, make sure you can pay the difference of the appraised value and what you agreed to pay for the home, since your lender will
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Use these strategies to put your best foot forward. Good luck! Nancy Braun Owner & Broker in Charge Showcase Realty, LLC 704.997.3790 ShowcaseRealty.net Info@showcaserealty.net
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SEPTEMBER 2013
4 Steps
4 Steps to Become a Power Player My fellow real estate partners The Power Is Now!
We have a plan. The Power Is Now to execute the plan.
• • •
Welcome to July! We are at the half way point of the year. It is not too late to achieve our goals if you are concerned. We can all get back on track if we are not where we thought we would be so far this year. Now is the time to reset, re-adjust, re-imagine, and rethink. Now is the time to realign, refocus and recharge. The Power Is Now to get pumped up and envision the great things we will accomplish by 12/31/2013. Napoleon Hill said “Success comes to those who become success conscious. Failure comes to those who indifferently allow themselves to become failure conscious.” This is not the time to give up, but it is the time to be conscious about the success you want in your life. The Power Is Now to set and achieve production goals higher than we originally planned. The Power Is Now to redouble our efforts, to work smarter and to get the assistance we need. The Power Is Now to take what the market is giving us instead of whining about what the market is not giving us. In every market and in every economic environment there are winners and losers. Are we winners or losers? We are winners. Make a decision because you are who you choose to be. Failure is not an option – it is a choice. We must capitalize on what the market is giving us. There are many market opportunities before us but we must choose to execute on what we are great at doing. We must do what we have the most Power and ability to accomplish because we do not have unlimited time and financial resources.
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•
We have a plan. The Power Is Now to execute the plan. We have a team of great people around us. The Power Is Now to maximize the individual talents on our team. We have the money and resources to invest in ourselves and our company. The Power Is Now to operate with courage and make the investment in ourselves and plan to succeed and not fail. We have mentors to help us. The Power Is Now to be accountable to a coach/mentor/manager to guide us and keep us accountable to our plan/ goals/tactics and strategies.
There are 4 Steps to Exercising the Power we have within to win this year.
Step 1.
Perform the sales activity that you are great at. Give everything else to someone else to do. If you want to wake up in the morning on fire and ready to take on the day then you have no choice but to focus on what you are great at doing and what gives you the most satisfaction and joy. Anything outside of our greatness and power makes us ineffective as a leader and as sales professionals. Our Power lies in our greatness and not in our weakness. Some people are great at many things but there is only one thing they are the best at and that activity will move the needle of their business and bring immediate results. We must focus on being great. You know what it is so just embrace it and do it. The 80/20 rule only exists because the 20% get it. They stay in their lane and only focus on what they are the best at doing. Their focus is where all their power is and that is why they get the job done like nobody else can.
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Step 2.
Believe that Failure is not an option – it is a choice. Choose to succeed. Why a real estate and/or lending professional would chose failure is very simple. Their choice is not an intentional choice it’s just a very easy choice to make. As human beings we always choose easy. It’s part of our human nature. Just look at our kids. It requires no effort or real thought to choose failure and be a victim because it is the default setting in our human nature. No real estate agent or lender I know would ever say I choose to fail. But our human nature will choose evil over good, negative over positive, failure over success if left unchallenged, untrained, undisciplined and unaccountable. It’s easy to fail, but it takes work to succeed. What empowers the negative choices we make in life is fear. Fear robs us of just about everything good in life: the fear of failure, the fear of loss, the fear of criticism, and the fear of rejection. Fear breeds uncertainty and doubt and causes us to shrink back when we should be pushing forward. Fear diminishes our personal power, confidence, smile and positive attitude toward life. Fear is devastating to any business and is infectious and dangerous as any lethal virus. Unfortunately, fear is not like some viruses (the common cold) that the body can handle and will eventually fight off and destroy. Fear is more like a flesh eating disease that can destroy the body and take your life. That is what fear does to a business and all the stakeholders of the business and especially the leader. It sucks the life out of you, the people around you and your business.
Step 3.
Operate at the highest level of professionalism. How do you want to be seen by the public or known by your peers? What is the trademark or signature of your business? When your name comes up socially or professionally, do you know what people are saying about you? To operate at the highest level of professionalism means that you bring your “A” game to work every day. It means you are always prepared for every meeting with a client.
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SEPTEMBER 2013
It means that you are always prepared to provide an intelligent answer to a problem or situation. It means that you are always dressed professionally and never have an off day. It means that your phone is always answered, not necessarily by you, and that you return phone calls in a timely manner. It means that you never appear frustrated or angry but calm cool and collected as if you are the chosen one to lead in any situation. It means that you are a problem solver, advisor, confidant and leader. To operate at the highest level of professionalism means to value what all people value and that is time and to always add value by being present in any meeting or engagement.
Step 4.
Establish a daily routine and stick to it. Warning: step 4 is only for disciplined people who want to guarantee that they will achieve their goals this year. If we are going to succeed, we must have a plan to succeed and within the plan there must be an established routine that we accomplish every day. The routine must happen no matter what happens in life. The routine is non-negotiable, immutable, inexcusable activities that must take place every day and at the same time. If you cannot be a person of integrity and do what you say you are going to do, when you say you are going to do it, then this may be the primary reasons you are not achieving your goals. People who lack integrity are typically not dependable in most things. They are never on time and there is always something that prevents them from achieving some task or goal. We all know people like this and we try not to conduct business with them. If this is a description of how you are conducting yourself then just make a decision to stop doing it because you have chosen this way of being. It didn’t choose you and you are not a victim. You are just undisciplined and need a coach. The following is a suggested routine if you are up for the challenge. For some of you it is not a challenge at all because you are already doing these things. Congratulations if you are doing the following:
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•
•
• •
•
Live by the calendar and respect your time and time of others. Set appointments for everything that must be accomplished each and every day. This means every phone call you make or take must be by appointment. Even if you are cold calling you must block the time. Rarely is anything done on a moment notice because your day is planned with personal activities, family activities, business meetings, business phone meeting and special projects. Voice mail exists for a strategic reason. You must hire someone to answer your phone and check your voice mail frequently so that time can be scheduled to speak to a client or team member requesting your time. Everyone deserves your full attention and you can’t give it to them if you are not working on a schedule or constantly answering your phone; being reactive instead of being proactive. Begin each morning with exercise and mediation/ prayer. Exercise for health and meditate to be in sync with God’s divine purpose for your life. We need balance in our lives. God, Family and Business are the balance we need. Eat a great breakfast so that your mind and body can function at its highest level. Without great health you will not have a great business. Confirm your entire day before you start your day. Make adjustments to your schedule if necessary but have a plan to handle your priorities first and to be accountable for every minute of the day. Confirm your week and month to make sure that everything you are doing today will have a positive impact on the future. Review your production goals for today, for the month and the year. Know where you are at all times and what you need to do to stay on track. These activities should be completed by 7:30 AM.
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SEPTEMBER 2013
•
•
•
•
Start work: Spend 70% of your day (9 hour day) 6.3 hours generating leads, capturing leads and following up on leads. This is your highest priority. You can’t make money if you have no one to sell to. It’s just that simple. Spend 30% of your day in ensuring that your current clients are receiving great customer service and that your marketing efforts are going to bring you future clients. This means tracking and following up on people and systems, meetings, planning session, strategy session and production planning. Take a 1 hour lunch at 12:00 PM. Not at 1 or 2 or 3 but 12:00 PM. Breaks are important and you must eat to stay alert and energetic the whole day. Always bring someone to lunch to bond with. Relationships are important in business and life. Leave at the end of the day and do not take the work home. I know this is hard to do but it goes back to being disciplined. Your priorities must be handled first and should not take more than a couple of hours of your day. Even if they took the whole day at least they would be completed and you can go home at 5 or 6 pm. Be clear on what your priorities are. Some people put off the most difficult task to the end of the day and end up staying at the office all night. This is a person who needs a coach.
Another reason to leave the office at 5:00 or 6:00 PM is so you can spend the rest of the day with your family. Success for many people is measured by having a great family life. You can be successful in business and successful as a spouse or parent to your children. It is not an either or proposition. Family is worth more than money or gold.
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declutering:
Recognizing the Hoarder in you and living in FREEDOM A transformation from a Cocoon to a Butterfly By Mickelin Burnes-Browne, Broker
As I have decided to work in the Senior market having obtained my SRES designation (Senior Real Estate Specialist), I have become more aware of how our possessions overtime control us and keep us from experiencing freedom as we age, especially as our children have left the nest, hopefully, so the only thing holding us back is US! The first step in de-cluttering is making a conscious decision that “I don’t want to live like this any longer.” And until that decision is made you will not experience the true freedom that comes with letting go. With all the clutter many time memories are tucked inside those “Stuffits.” So be gentle with yourself but don’t let the memories keep you from your goal. And my goal is to be organized, simplify
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my life, have systems in place and be able to locate items in less than 10 seconds. You should also have goals in the de-cluttering process. As I stated earlier the ultimate goal is to reach FREEDOM!!! I will begin with some disclosures as to how I came to write this article for those who may be struggling with clutter. And to say that de-cluttering is a challenge, but the process is the same though you are dealing with various aspects of clutter— whether in the Kitchen, Bedroom, Basement, Office paperwork or your computer files. The approach for each could be different but the process is the same. After you have made the decision that your Stuffits will not longer control you, You are ready to begin.
It is natural to feel overwhelmed, so the first thing to do is: 1. Make a list. This could be extensive and detailed as you would imagine as it takes years to collect, but with a system, and time it can be done. • Be specific with each list with headings for each room or section of the room, as the “wall with the bookcase.” What are you going to do with the books? Keep this in mine as I address this later in terms of what you are going to do with your Stuffits. It is important that you keep organized from the beginning. • This may sound overwhelming but it is freeing and you will realize this during the process.
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1. Ask for help. To start, acknowledge you need Help! • Some items maybe too large to move and some things have so much emotional ties that you will need support to come to terms with what you need to do with an item. • Feedback is good as your support people typically will not have the same emotional attachment as you. Your support people will keep you accountable. Find those that will support you physically and emotionally. • Set priorities keeping in mind you have other commitments and making incremental achievable goals is great progress. If you feel overwhelmed --stop. And acknowledge your progress. What are the Ground Rules. I made reference to this earlier— What are you going to do with those “books in the bookcase?” To answer this Andrew Mellen, Organizer Guru says: If your house were burning and your family, pets and purse (money and personals) were already out of harm’s way, what else would you want to save? Probably not the blender that does not work; the china you inherited but never use or the photo in which you’re not exactly looking your best. Which begs the questions: If those things aren’t worth taking, why are they in your home in the first place? So— 1. Everything you own should
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SEPTEMBER 2013
have value, either because it’s functional or beautiful or you just love it. Remember the question of what you’d grab if your house were on fire, that’s your baseline for determining an object’s worth. 2. Every item needs a place where it “lives.” Setting things down on the coffee table or kitchen counter creates piles and confusion. Assign a home for it. 3. Focus on one thing at time. Multitasking is supposed to help you get more things done quickly, but when you try to do 19 things at once, everything ends up incomplete. In de-cluttering, I find that multitasking does not work. You’re trying t o simply your life, so simplify your approach to getting organized. I will give examples of a few of the typical locations in the home that get out of control: 1. The Crammed Kitchen: Your kitchen is a food preparation area, not a storage space. What you want to do in the Kitchen is to weed out what you are not using then put similar items together. I have a pet peeve about container with no lids so I toss them. 2. The Pile of Mail: When you come in the house have a container for the mail and begin to sort by importance. If you have a home office,
go there to handle the mail. This is one of the ground rules—Assign bills a home and where you handle them. 3. Overstuffed Bedroom closets: “Someday I’m going to fit into these again.” Or “Someday I’m going to wear this.” The problem is, “someday” doesn’t exist, there’s only today. • However, if you’ve gained weight, keep the smallersized clothes that you’ll get the most use from and work on fitting into them again. If you’ve already lost weight, don’t keep a closet full of big clothes that can be donated. You are not planning on gaining the weight back. Honor your temple. • For those “trendy” items, that you are waiting to come back in style, even if they do they will look dated. You will want to weigh the value on holding on to them versus the space you can have by not holding on to it. • For sentimental pieces, as the wedding dress you are saving for your daughter, apply ground rule 1 does it have “value” because it is functional, beautiful or you just love it. 1. The Drawer Full of Photos: If you don’t have time to put your photos in an album or scrapbook it’s okay to put them into labeled shoe boxes and store them instead.
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•
•
Get a timer because sorting through photos lead to reminiscing and you’re not looking at photos now, you are organizing them so that looking at them later will be more fun. Decide how long you have and set the timer. Always label by subject and date and hopefully you will remember who is in the photos. This can be a fun project later for the entire family.
1. The Home/Office Computer is your Friend for staying organized: There have been so many technological advances that I get overwhelmed by all that is available. Therefore, I hone into what works best for me at the time, and I can always add as I learn various tools. • My number one tool is my cell phone were I keep my contacts, emails, alarms, and evernotes (which is what I am learning currently) • My laptop for my daily calendar and for tracking my task • Dropbox is for data storage • I am designing a computerized filing system for my business and for my personal, which will eliminate paper. • Remember your creditor what you to go paperless. In summary, de-cluttering your life is an ongoing process. It is my hope that you accomplish whatever your goal is in Living Your Best Life—Clutter Free and reaching the Ultimate goal of FREEDOM!!!
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Notes: My first guru on this topic is Barbara Hemphill “Let’s Get Organized.” Her premise is that being totally organized is locating items is 5 seconds. (I am still learning, so mine is 10 seconds). Other Gurus for more reading on this topic is: Andrew Mellen, www.VirgoMan.com, Peter Walsh, “Surprising Way to Clean up Clutter.” The following pictorial shows what can be done: The home was a disaster, red tagged by the city of San Jose. With a solid goal in mine, a team of workers and a vision of what this home was to look like in the end, we made it happen. It was literally transformed
I am a VIP agent with the Power is Now. Please follow me on Facebook, Pinterest and my new website coming soon: www.SoldbyMickelin.com serving the San Francisco San Jose Bay Area Email me: Mickelin@SoldbyMickelin.com 408569-0978
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Havilah’s
Corner
MEET THE LADIES BEHIND PROFESSIONAL FOOTBALL!
by Havilah Malone Celebrity TV Host & Columnist,
Havilah Malone
With Football season getting into full swing, fans are packing the stands, and the players are ready to bring home the win! All the while the ladies behind the players are busy at work... I’m not talking about the football wives. These are the women who brought them into this world and kissed their bruises while growing up, the football Mothers.
players making the transition from college to the pros”, stated PFPMA President, Denise Wayne (mother of Indianapolis Colts wide receiver #87, Reggie Wayne). The ladies traveled to Atlantic City for their annual ‘Sisterhood Retreat’ which featured workshops and informational sessions as well as bonding activities and time for giving back to the city.
In 1997, twelve mothers came together knowing they needed a support system for themselves and their sons and by March of 1998, PFPMA (The Professional Football Players Mothers Association) was born. It is a non-profit organization that educates the mothers of past and present players on the “business” of professional football, as well as supporting charitable causes and community outreach in the areas where their sons grew up and currently live. “We’re the support team for mothers of
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COMMUNITY
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Throughout the year the mothers stay busy managing their sons foundations, staying informed on health and wellness concerns, attending games supporting theirs sons, caring for their families, and in some cases working full time jobs amidst other things. They understand that a career in football doesn’t last forever so they want to set their sons up for success. Gwendolyn Jenkins (mother of New Orleans Saints safety Malcolm Jenkins) shares this bit of advice with parents of athletes, “Support your kids, keep it fun, let the coaches do their job and keep yourself open to opportunities “on and off” Havilah Malone & Gwendolyn Jenkins (son, Malcolm Jenkins, NO Saints) the field. Football is a short-lived career, so
make the most of it and have fun”. There’s nothing like game day and while there may be a lot of competition on the field, off the field PFPMA’s mission is to bring the players and their mothers together to support one another, “At the end of the day, we have to have each other’s back, together we stand divided we fall”, emphasized Sandra Moore (mother of Mewelde Moore, offensive running back who is currently a free Agent).
Another important aspect of this organization is the ability to use football as a platform for giving back to the community. While in New Jersey the mothers came together to donate underwear to support a battered women’s shelter, “Those are things that we don’t think about that they would need at a women’s shelter”, says Phyllis Smith (mother of Alex Green, running back for the Green Bay Packers). “It’s really about giving”, states Bernadette Suh (mother of Ndamukong Suh, defensive tackle for the Detroit Lions) she continues, “the Suh family foundation donated $2.6 million dollars to the University of Nebraska to fund scholarships for qualified students interested in a degree in Engineering”. Another student focused program is the Legacy Leadership Program which Cheryl Foster (mother of Deshaun Foster, retired
running back for the Carolina Panthers), serves as the director for. This program partners high school students with hall of famers to teach them leadership skills to use on the football field and in life. Being a part of such an incredible sports league like the NFL is a rare privilege Ndamukong Suh, Detroit Lions that comes with great fulfillment as well as a price. Staying informed helps players and parents make the right decisions and know what to look for to make the most of their career and do the most for their communities. PFPMA offers support and a foundation for success. For more info on the organization visit www.pfpma.org
Want more insight into your favorite Players and see what their Moms are up to? Watch the exclusive interviews & behind the scenes footage at www.HavilahMalone.com Twitter @HavilahMalone Email: Ask@HavilahMalone.com
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Movies that Inspire and Entertain
“The Butler” by Tanya Freeman
L
ee Daniels’ The Butler, from the Weinstein Company; is a powerful movie, which is based loosely on the real life of Eugene Allen and his wife, starring Forest Whitaker and Oprah Winfrey. As a Butler in the beautiful and prestigious White House for thirty-four years, Mr. Allen faithfully and honorably served eight presidents from 1952-1986. This amazing film was based on an article, featured in the “The Washington Post. “ written by Wil Haygood, entitled “A Butler Well Served by This Election,” When comparing the article to the film, there are some remarkable differences. First of all the, Eugene Allen’s name was changed to Cecil Gaines, with an outstanding performance given by Forest Whitaker. Secondly, Mr. Allen only had one son in real life. The film was filled with a star studded cast of performers such as: Cuba Gooding Jr., Jane Fonda, Mirah Carey and many more. Having studied the backgrounds and historic accomplishments of the eight presidents, I was moved in my emotions as I was reminded of many of the transformational decisions made by those presidents in that 34 year span and how those presidents affected change for our nation and for blacks. This film compelled me to recall the history of those
turbulent and horrifying years which took place in the 1960’s and 1970’s. This time I felt different as those memories flooded my being as I realized how young people had been hurt and killed. As a mother, I cried for the children who had been leached and left hanging as examples. I cried for the children who had been bombed in Churches. I cried for the young teenagers of the Little Rock Nine. I cried for the Freedom Riders who were only 17, 18 and 19 years old. I cried for the parents of these young people also. Today, history has recorded the facts of multiple events which took place in many cities in the south to bring the necessary changes. As I have traveled, I have seen signs of change and that healing has taken place with even a few monuments erected. Recently, I visited Little Rock, Arkansas and saw the Civil Rights Memorial of the Little Rock Nine on the ground of the Capital and thought about the things those teenagers endured to integrate public schools. As I discussed the events with my own children, they expressed an enormous amount of gratitude for the bravery of those change agents throughout history. It was apparent there southern states were filled with fear and retaliation and that a new way of living came forth.
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Movies that Inspire and Entertain Here’s your assignment! I would encourage readers and movie goers to take a closer look at history, research and have a discussion over dinner to share thoughts, ideas and strategies for continued progress. There is still so much work to be done, so let’s continue to move to action. Some recommended topics to research and are : • • The role share cropping played after The Emancipation Proclamation how it was considered one step above slavery • The role and opportunities of the Civil Rights Bill and the Voting Bills • The type of people and professions who could afford Fisk University and Howard University • The understanding the hatred and undermining associated with the “N” word • The Little Rock Nine and where they are today • The Freedom Riders – remembering they were young kids 17, 18, 19 year old kids with determination, who later became heroes yet paid such a price • The changes in last 100 years as it relates to African –Americans • The life and death of Dr. Martin Luther King Jr. and the events that preceded his death. Become familiar with Dr. King’s educational accomplishments • The definition of middle class black in the 1960’s and 1970’s. The types of jobs, benefits, their character and the injustices tolerated by people in the middle class. • Black Panthers, their beliefs and the California bombing • President Barack Obama, his life and his accomplishments
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During the 1960’s, the young leaders came on the scene with fearless determination, fresh eyes and new energy to move the agenda along. As I viewed the movie, I was reminded of the 2008 election as I watched a similar results oriented drive in action to accomplish a huge task, lead by young leaders. I was in Ohio on that very memorable day when one of the news station announced Barak Obama, the first African American to be elected President of the United State of America. I related to Cecil in the final scene with his joy, his excitement of the promise of better future for generations to come. In discussions about the years reflected in the film, it was brought to my attention that each generation has made tremendous progress, yet we all do a better job of transferring personal history of the from one generation to the next. For example sitting and talking about what it was like to grow up in the 1950’s and 1960’s expressing all the joys and all of the pains that were experienced. It could foster a greater appreciation for the events of the past and the life we currently get to enjoy. We can’t stop, there is still more work to be done.
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New VA Housing Center to Host Benefits seminar SEPTEMBER 23, 2013 at 10 Kirk Ave, San Jose, CA 95148 By Mickelin Burnes-Browne, Broker
Irvin Goodwin, right, an advisor on homeless veteran’s issues for the Department of Veterans Affairs, welcomes VA Secretary Eric K. Shineski to the state at the VA National Summit Ending Homelessness among Veterans. If you would like to know more about the Vet Center in San Jose, or know someone interested in VA benefits, please contact me directly. Please respond via email for your invitation to attend the free Benefits Program on: Sept 23, 2013 at 5:30pm 10Kirk Ave. San Jose, CA 95148 Mickelin Burnes-Browne, Broker USA Care Consultant 408-569-0978 Email: Mickelin@SoldbyMickelin.co
Or, if you would like to support the Veteran’s Center, please contact Irvin Goodwin 10 Kirk Ave San Jose, CA 95148 408-533-0227 Email: holland2750@comcast.net
COMMUNITY
I
met Mr. Irvin Goodwin, Founder and CEO of the Veterans Housing Center, of San Jose, prior to attending the National Association of Real Estate Broker’s Convention in Denver, Colo. August 2013. I told Irvin that I was very interested in working with Veterans and was going to the convention to get the USA Care Certification to begin working with Vets. He told me as soon as I returned let’s do something to get this program going. I immediately contacted a Wells Representative that was certified to work with Vets and the City Lift program that Wells released last year. The wheels began to turn and after reading and listening and touring the Vet Center I was in awe of what this gentle man, Mr. Goodwin, has accomplished. He not only inspired me to do what I could to join the cause to end homelessness amongst Veterans in my community, but to spread the word through other Realtist and Realtor members at the Convention and to share the article that I received from Irvin about his work. It is beyond me how a person with a history of homelessness, alcoholism, drug addition and several stints in prison could rise to his level of professionalism, integrity and purpose. Irvin said it is not him, but God. Irvin has dedicated his life to what the Realtist Mission and Purpose is – to serve the underserved amongst us “the least of these, my brethren.” Through Irvin’s program, veterans can participate in drug and alcohol relapse prevention classes, Bible study and life skills classes in one central location. Professional staff, such as social workers, and benefits counselors, are on board. Veterans can also receive financial and debt services and low-income housing assistance. Irvin also conducts prison outreach. His policy is to turn no veteran away. His program is new here in San Jose and the word is getting out of his good works. The police, will bring homeless Vets to the Center so they can be treated rather than take them into custody. Irvin was honored at a ribbon cutting ceremony at the Center, July 11, 2013, by Mayor Chuck Reed. Irvin’s story is not just a success story, but one of generosity. Many of the former residents now work
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at the center as volunteers. And many other former homeless veterans have successfully completed the homeless program and life coping skills. In fact, since 1987, more than 400,000 veterans have benefited from the programs and services VA and its community and faith-based partners have provided. Irvin oversees a staff of 24, in his newest facility, at 10 Kirk Ave in the east foothills on 70,000 square feet of land with 8 buildings and approximately 100 residents. The facility has a huge recreational area and commercial kitchen where they serve 3 meals per day. There is a separate unit just for Vets suffering from Post Traumatic Stress Disorder. With such a large facility, and considering the background of the residents, I observed such peace and true caring from Irvin and the staff. Irvin says the rules are laid out upon the Vet’s arrival that violence nor threats of violence will be tolerated; and they have only one opportunity to “mess up” and they are out of here. I don’t see why anyone would “mess up” considering coming from living on the street to a country club environment. The residents are contracted to stay no longer than two years, and the average is 8 to 9 months. The facility accommodates mostly, men and very few women. The facility is not equipped to house women with children. In my conversations with Irvin I found him so open to my questions and willingness to accept help from myself and others. To anything in the way of assistance, or to anyone that I mentioned to help, his reply was, “okay, bring it.” The Obama administration is concentrating on eliminating homelessness in the Veteran community and giving Vets the services that are due them. So as Irvin states, the need is so great that he turns no offers of help away. The Center Admin, LaShonda Holland, informs me that it maybe a stretch to expect a Vet to go from homelessness to homeownership, but I am reminded of one Irvin Goodwin as my example of the possibilities and not to measure the circumstance, rather the Heart.
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Attitude W
e all heard the saying that attitude is everything and that attitude affects your altitude. I would concur with both statement but there is something else I think you should consider about attitude. Having a great and positive attitude is absolutely critical to your success in life and in business. A poor attitude can affect your interpersonal relationships at home, school or the workplace and can potentially be the primary cause for an improper response to a relative, neighbor, customer, employee or boss. Ultimately it will have an adverse effect on your effectiveness as a person, a leader, a father and human being. What’s so unique about a positive attitude is that it something that everyone can have and yet, you can’t obtain it from the best university, you can’t receive it from the greatest parents in the world, no one can force it on you, nor can you buy it. You see, what so special about a positive attitude is that it is something that resides in us all and that we alone can decide to turn it on or to turn it off.
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A Positive Attitude is a decision. A decision that must be made in spite of whatever life’s challenges hold in store for you each day. A decision that is not subject to predetermined events or can be dictated by the attitude of others. When you wake up in the morning the first decision you make among the numerous decisions you will make before you even leave home is whether to be a positive influence and source of motivation for others or a negative influence and source of anxiety for others. It’s a critical decision that only you can make today and your decision will affect everyone else around you; your wife, husband, father, mother, sister brother, employee, boss, student, teacher, neighbor, and friends. Make a decision to be positive today and everyday as we all are working very hard to achieve positive results in our lives, our businesses and families while in the pursuit of excellence and happiness.
Eric Lawrence Frazier, MBA
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Harriet Tubman
100th Anniversary of her death March 10th was the 100th anniversary of Harriet Tubman’s death. Can we really appreciate the courage that Harriet Tubman had to lead 300 souls out of slavery and not lose a single one? How does an African Women during this period in our history have the courage, the resources and the fearlessness to pull this off? I often think about great men and women in the African American community who were willing to risk their lives for people who are not even their immediately family but are their brothers and sisters in their community. These leaders see community as family and they are willing to risk their lives to better
the lives of their family. Who are our community leaders today? What are they doing to have impact on the lives of their people? The most famous community organizer I know is now our President who has and will continue to have an impact on our country and the world. When President Obama’s term has ended and the political rhetoric of hate, class-ism and racism has subsided, his legacy as a communicator, leader and architect of monumental change in our country will be celebrated. Harriet Tubman had a bounty on her head in 1856 but her legacy today is in great company with many other African Americans
in our community who have dedicated their lives to freedom, liberty and the pursuit of happiness for all people. Today I honor Harriet Tubman’s memory by this post and I challenge everyone who reads it to be your brother keeper in your community. You may not be willing to risk your life but are you willing to give some of your time to lead someone in your community out of their challenging life circumstances into to better life. Harriet Tubman did just that and is role model for us all. http://www.macon. com/2013/03/08/2387175/harriettubmans-life-and-legacy.html
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LUXURY HOME AUCTION 160 JOHN STREET, GREENWICH, CT 06830 9 BEDS | 17 BATH | GUEST HOUSE | TENNIS COURT | 40 ACRES EQUESTRIAN COMPLEX | PRACTICE POLO FIELD
Bid Online: Home Preview:
October 15-17 Saturday, Sept 21 | 11am-4pm Saturday, Oct 5 | 11am-4pm
Starting Bid:
$1,000,000
Previously Valued At:
$36,000,000
Broker Co-Op:
2%
Listed By: Advantage Realty Group Advisors Raul Villacis* raul@argct.com * 203-912-3076
REGISTER NOW! www.auction.com
LUXURY HOME AUCTION 160 JOHN STREET, GREENWICH, CT 06830 9 BEDS | 17 BATH | GUEST HOUSE | TENNIS COURT | 40 ACRES EQUESTRIAN COMPLEX | PRACTICE POLO FIELD
Opportunity to acquire an exceptional Estate with 14,966 of living space sitting on a 40 acre land trust. This magnificent home has high ceilings, exquisite details and a magnitude of amenities. The house contains 9 bedrooms, 17 baths, a guest suite, home theater, a library, an exercise room and several playrooms. Each room was meticulously designed to include luxurious details. The expansive property includes long curving allee of trees that leads to a stone paved courtyard with a fountain in the middle of the circular driveway creating a dramatic entrance. It also features a heated pool, spa and a tennis court. The unique feature of this property is the equestrian complex that includes impressive barns that can hold up to 30 horses with a practice polo field.
Bid Online:
October 15 - 17
Starting Bid:
$1,000,000
Home Preview:
Saturday, Sept 21 | 11am-4pm
Previously Valued At:
$36,000,0000
Saturday, Oct 5 | 11am-4pm
Broker Co-op:
2%
For Property Related Questions: Raul Villacis | 203-912-3076 | raul@argct.com
NEWS ALERT!! September 18 -21, 2013 National Association of Real Estate Brokers, Inc. to host a Brain Trust Session during the 43rd Annual Congressional Black Caucus Foundation Legislative Conference. President Donnell Spivey extends a personal invitation to all NAREB members, affiliates, and friends to be in Washington, DC for NAREB’s Braintrust session. A dynamic and distinguished panel of housing industry experts has been assembled to put into context the current economy, housing and what it means for REALTISTS® as well as the African American community.
MARK YOUR CALENDAR TO JOIN US!! Friday, September 20, 2013 3:00 p.m. - 5:00 p.m. Walter E. Washington Convention Center Room 146-B For the very FIRST time, you will be able to join the session from the convenience of your own computer if you can’t be with us in Washington, DC! The Braintrust session will be streamed “LIVE” In REAL TIME!!
Visit the www.nareb.com for more details.
This is a NOT-TO-MISS event!!!
Real Estate Agent VIP Benefit Program™
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The VIP Agent program is an exclusive marketing opportunity for Real Estate professionals and is by invitation only.
VIP Agents are by invitation only and the advertising and promotion they receive is free. Admission into the VIP agent program is formal recognition of the Agent’s great reputation and service they provide to their clients. VIP Agent’s have years of experience, education, credentials and certifications and have been vetted by the Power Is Now.
A VIP Agent is a trusted real estate professional who is endorsed and promoted by Eric L. Frazier, MBA Host & Executive Producer on the Power Is Now Online Radio.
The Power Is Now Radio wants to make sure that listeners have access to the very best agents in their market place.
VIP agents also have certifications and designations in most aspects of selling real estate and representing buyers. Most importantly VIP Agents have received the VIP Agent certification and are known and personally endorsed by Eric Frazier.
VIP Agents have a minimum of 10 years or more of experience in selling real estate and offering other real estate related services. They have a perfect record with the department of real estate and/or other regulatory agencies in their state and a track record of successfully closed transactions that have been verified.
Trusted Real Estate Professionals Endorsed by Eric Frazier and The Power Is Now, Inc.
Name: Aaron Zapata Website: http://AaronZapata.com Email: Aaron@AaronZapata.com Phone number: 562-903-0088 x 112 Cellphone: 7149047877 Address: Zapata Realty, Inc PO Box 624 Yorba Linda, CA 92885
Name: Jonathan Anozie Email: janozie@realtyexchangefirm.com Phone number: 310-216-9077 Cellphone: 310-678-8138 Address: 1620 Centinela Avenue, Suite 203, Inglewood, California 90302
Name: Jonathan Burgess Website: http://www.code3realty.com/ Email: jonburg@code3realty.com Phone number: 916-455-5225 Ext. 6 Cellphone: 916-296-3645 Address: 11801 Pierce St. Ste. 200 Riverside, CA 92505
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Name: Kiby Pearson Website: www.pearsonrealtygroup.com Email: kirby@pearsonreo.com Phone number: 773-325-2800 x 101 Cellphone: 312-805-0005 Fax: 3126409647 Address: 1000 N Milwaukee Ave Chicago, IL 60642 Chicago, Illinois 60642 United States
Name: Lynetta Cornelius Email: lynettacornelius@earthlink.net Phone number: 925-759-8606 Address: 111 Deerwood Road, Suite #200, San Ramon, CA 94583
Name: Mickelin Burnes-Browne Phone number: (424) 212-6718 Email: mickelin@soldbymickelin.com Phone number: 408-272-7645 Cellphone: 408-569-0978 Fax: 408-273-6470 Address: 2894 Mabury Court San Jose, CA 95133
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Name: Nancy Braun Email: nancy@showcaserealty.net Phone number: 704-488-3109 Address: 1430 S. Mint Street, Suite 106 Charlotte, NC 28203
Name: Zoritha Thompson Email: zorithasellsreo@gmail.com Phone number: 916-870-4765 Address: 8211 Bruceville Rd. Suite 145, Sacramento, CA 95822
Name: Angelica Suarez Website: http://www.angelicasuarez.com/ Email: ANGELICA@angelicasuarez.com Phone number: (310) 802-2444 Cellphone: (310) 261-7700 Address: RE/MAX Estate Properties 23740 Hawthorne Blvd Torrance, CA 90505
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Name:Ivery Summers Website:www.thereodiva.com Email: ivery.sells@verizon.net Phone number: 310-649-2711 Cellphone: 310-920-3455 Address: 8939 S. Sepulveda Blvd. Ste. 261 Los Angeles, CA 90045-3944 USA
Name:Justin Potier Website:http://www.boardwalkluxuryhomes.com/ Email: justin@boardwalkreo.com Phone number: (562) 424-0333 Cellphone: (562) 480-0684 Fax: (562) 513-1006 Address: 3948 Atlantic Avenue Long Beach, CA 90807
Name:Raul Villacis Website:http://www.argct.com/ Email:raul@argct.com Phone number: (203) 964-3000 Cellphone:(203)249-1248 Address: 482 Summer Street, Stamford, CT 06901
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Name: Glenda Brass, MBA Website:www.ExitWithDignity.com Email: glendabrass@glendabrass.com Phone number: (310) 590-1235 Cellphone: (310) 345-9707 Fax: (310) 590-1320
Name: Wayne Wyatt Email: wayne@wyattrealtygroup.com Phone number: 909-945-0679 Cellphone: 323-445-6993 Office: 909-945-0600 Address: 8250 White Oak Ave. No.102 Rancho Cucamonga, CA 91730
Name: Marguerite Crespillo Office: 916-580-0808 Address: 535 Menlo Dr., Ste. A Rocklin, CA 95765
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Name: Arnold Ver Website: www.HouseValueMax.com Email: homes@housevaluemax.com REOTeam247@yahoo.com Phone number: 626-905-0919 Fax: 626-810-7620 Address: 1221 S. Hacienda Bl. Hacienda Heights, CA 91745 17843 Colima Road, Rowland Heighs, CA 91748
Name: Kennedy Akinlosotu Email: kennedy@nationsrealtyllc.com Office: 253-945-0808 Direct: 206-423-9999 Fax: 253-945-0809 Address: 24860 Pacific Hwy S Kent, WA 98032
Name: Dianne Langston Email: reo2448@gmail.com dianne@diannelangston.com Phone number: 707-580-1585 Address: 432 Jackson St. Fairfield, CA 94533
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Name: Jill Rand Website: www.JLMPropertiesInc.com Email: Jill.Rand@JLMPropertiesInc.com Phone number: 661-510-2112 Fax: 661-284-7544 Address: 27201 Tourney Road, Suite 200E Valencia, CA 91355
Name: Glenda Brass Website: www.ExitWithDignity.com Email: glendabrass@glendabrass.com Phone number: 310-590-1235 Cellphone: 310-345-9707 Fax: 310-590-1320
Name: Reggie Woodgett Email: RWOODGETT@realtracs.com Phone number: (614) 400-4173 Cellphone: (615) 562-1766
Name: Raquel Anders Email: Raquel@raquelanders.com Phone number:(714) 969-6100 Cellphone: (714) 414-2885
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show on location with Q&A that is scripted or we can take live questions from the audience. The live show enables you to deliver your content to your audience of members, clients, and prospects nationwide in addition to the nationwide Power Is Now audience. The Live Show Investment is $3,495
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Sponsor any live or pre-recorded show by cohosting and pre-recording a 5 minutes interview about your company and/or service. Investment: Currently $1495.00
Commercial
The commercial consists of a two 30 second or one 60 second pre-scripted recording about your service, products and/or programs. Once the recording is completed to your satisfaction it will play in two shows of your choice and will remain with those shows for life in the archives. VIP Agents recieve free advertsing in the RADIO|MAGAZINE|RADIO GUIDE OF THE POWER IS NOW
with Eric Lawrence Frazier, MBA, Host & Executive Producer
THE POWER AGENT SPOTLIGHT FEATURES ALEX PERIELLO Alexander E. Perriello President and Chief Executive Officer Realogy Franchise Group alex.perriello@realogy.com P: 973-407-5703
THE POWER AGENT SPOTLIGHTIS FOR REAL ESTATE AGENTS WHO STAND OUT IN THE INDUSTRY. The Power Agent Spotlight is for Real Estate Agents who standout as the best of the best in the Industry. These are Real Estate Agents with years of experience and top performance. They have it all: Professionalism, Education, Certifications and Results!
DISCUSSION POINTS:
Listen online at:
Start as an agent Real Estate Experiences as an agent and broker owner Team and business operation Production results and overall success in real estate Plans for the future and opportunity forecast
Eric Lawrence Frazier, MBA Host & Executive Producer www.thepowerisnow.com www.blogtalkradio.com/thepowerisnow www.ocrealtist.org www.linkedin.com/in/ericfrazier www.ericfrazier.com
Connect with the power is now:
www.thepowerisnow.com or www.blogtalkradio.com/thepowerisnow
Date: Thursday, September 19, 2013
Time: PDT - 10:30AM - 12:30 PM MDT - 11:30AM - 1:30 PM CDT - 12:30PM - 2:30 PM EDT - 1:30PM - 3:30 PM Call in: (323) 843-6082 (877) 317-7323
www.thepowerisnow.com Questions & Comments Call (800) 401-8994 X703
714-361-2105 Direct 800-401-8994 x703 eric.frazier@thepowerisnow.com
Date: Thursday, September 20th, 2012 Time: PDT - 10:30 AM to 12:30 PM
REP
LAY
May he Rest in Peace. Our hearts are sadden by the lost of Le Francis Arnold. He was a great man, husband, father, son and Leader in our community. He will be missed. Sunrise November 24, 1952 Sunset September 2, 2013 Rest in peace.