The Power Is Now Magazine, October 2023 by The Power Is Now Media Inc.

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OCTOBER 2023

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OCTOBER 2023

CONTENTS

OCTOBER 2023 and Income Challenges

LEGAL NEWS Restarting the Federal Student Loan Payments: Your Guide to Options and Assistance

POWER TO YOU 3 Ways to Prepare as Holiday Shoppers Brace for More Financial Strain This Ye

GREEN/SUSTAINABILITY NEWS California’s Bold Step Towards Solar Power: Gov. Newsom Signs Legislation to Harness Highway Real Estate

MORTGAGE NEWS Navigating the Mortgage Market Surge: Loan Officers Adapt to Rising Rates and Changing Borrower Profiles

ECONOMIC NEWS Balancing Act: Navigating the Housing Market Amidst GDP Growth

REAL ESTATE NEWS The Mortgage Hurdle: Rising Home Prices OCTOBER 2023

COMMERCIAL NEWS Workplace Evolution: Balancing Rent, Productivity, and Employee Well-being

FROM OUR VIP AGENTS Adriana Montes: What is a Twin Home? Making Sense of Dual-Unit Living for Buyers and Renters pg 40 Emerick A. Peace: How Much Should I Spend on a House? Pg 46 Francine Marsolek: Essential Tips and Home Inspection Checklist for Sellers 2023 pg 58 Steven Rivkin: A Guide On How To Sell Your House Fast pg 74 Yvonne McFadden: 6 Financing Tips For First-Time Home Buyers pg 84 Brandy Nelson: Maximizing Your Home Search with a Buyers Agent pg 92 Dashunda Morris: Essential Tips and Home Inspection Checklist for Sellers pg 106 Ruby Frazier: Buying and Selling a House at the Same Time: Where to Begin pg 122 vv

OCTOBER 2023

October 2023

FROM THE EDITOR

Dear Readers, As we usher in the golden hues of autumn and the promise of new beginnings, it’s my pleasure to welcome you to the October edition of The Power Is Now Magazine. In a world that is continuously evolving, knowledge is the key that unlocks the doors to prosperity and success. Our mission at The Power Is Now is to provide you with the knowledge and insights you need to make informed decisions on your journey toward homeownership. A lot has been happening. First, the economy is doing better, despite projections earlier in the year that we’ll be in a recession as the year comes to an end. But not only has the economy done better, the job market is doing really well. However, as we’ll find out, mortgage rates are skyrocketing, which is affecting many buyers in the market. Additionally, in recognition of the ongoing Israel-Hamas conflict, we stand in solidarity with Israel, supporting its right to defend itself amidst this challenging situation. Our thoughts are with all those affected by the conflict, and we hope for a peaceful resolution in the region. Lastly, October is celebrated as LGBTQ+ History Month in the United States and the United Kingdom. It is a time to recognize and celebrate the contributions of lesbian, gay, bisexual, transgender, and queer individuals to society. The month also serves as an opportunity to raise awareness about issues that affect the LGBTQ+ community and to promote equality and acceptance for all. As a part of The Power Is Now Fraternity, we are committed to treating everyone with respect and dignity, regardless of their sexual orientation or gender identity. We believe that everyone deserves to be treated with kindness and compassion, and I stand in solidarity with the LGBTQ+ community. I hope that this month serves as a reminder of the progress that has been made in advancing LGBTQ+ rights, but also as a call to action to continue fighting for equality and justice for all. Remember that love is love, and everyone deserves to be loved and accepted for who they are. This month, we have gathered a treasure trove of knowledge, insights, and expert perspectives across various facets of homeownership, ensuring that our readers are equipped with the tools to navigate today’s dynamic real estate landscape. Our dedicated team of writers and contributors have painstakingly crafted articles that cover a wide array of topics to help you make informed choices, whether you’re a first-time homebuyer or a seasoned real estate investor. In our Mortgage News section, we delve into the challenges and opportunities presented by the current mortgage market surge. Loan officers adapt to rising rates and evolving borrower profiles, and we provide you with essential insights to stay ahead of the curve. OCTOBER 2023

Economic News explores the balancing act required when navigating the housing market amidst GDP growth, helping you understand the ever-changing dynamics between the two. Real Estate News tackles the hurdles posed by rising home prices and income challenges, offering solutions to help you make well-informed decisions. Our expert contributors, Adriana Montes, Emerick A. Peace, Francine Marsolek, Steven Rivkin, Yvonne McFadden, Ruby Frazier, Briana Frazier, and Brandy Nelson, cover a variety of essential topics to enhance your knowledge of the real estate market, making this edition an invaluable resource for your journey. On the cover of this month’s edition, we feature an extraordinary individual who has made an indelible mark in the world of homeownership. Bruce Marks, the CEO of the Neighborhood Assistance Corporation of America (NACA), has dedicated his life to dismantling barriers and making homeownership accessible to those who once felt it was beyond their reach. His unwavering commitment to this cause has transformed the housing industry and changed countless lives across the United States. We are honored to highlight his remarkable journey. In this edition, we invite you to explore, learn, and prepare. We hope that the knowledge and insights within these pages empower you on your path to homeownership. As always, we are here to support you in your quest for success. Warm regards,

Eric Lawrence Frazier Editor-in-Chief The Power Is Now Magazine

OCTOBER 2023

They told me to “Try someplace else.”

So I did. I called HUD.

SCAN HERE FOR MORE INFO

I found the perfect apartment near a park and public transportation. I asked for a reasonable accommodation for my service dog, but the landlord told me “no pets – try someplace else.” So I called HUD and found out it’s illegal for a housing provider to prohibit service animals. I filed a complaint, and now my dog and I have a great place to live.

Fair Housing Is Your Right. Use It. Landlords must make reasonable accommodations for persons with disabilities, such as allowing for service animals or providing an accessible parking space. Report housing discrimination to HUD or your local fair housing center.

Visit www.hud.gov/fairhousing or call the HUD Hotline 1-800-669-9777 (English/Español) 1-800-927-9275 (TTY)

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

OCTOBER 2023

PHOTO FROM 123RF

PHPTP FROM THEHILL.COM

MORTGAGE NEWS

Navigating the Mortgage Market Surge: Loan Officers Adapt to Rising Rates and Changing Borrower Profiles

n an economic climate where 30-year fixed mortgage rates are surging towards 8%, loan officers are experiencing significant reductions in their client pipelines.

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Originators who have traditionally catered to move-up buyers with excellent credit scores and substantial down payments are grappling with the challenge of finding new clients. However, loan officers who specialize in meeting the needs

of first-time homebuyers, offering options such as FHA loans and down payment assistance programs, are faring comparatively better, as noted by Michael Ullmann, the producing branch leader at Movement Mortgage.

offered through state housing finance agencies, cities, and counties, are making homeownership more accessible to first-time buyers, reducing the barrier of a substantial down payment. Additionally, non-mortgage bank lenders have introduced DPA programs where they cover 2% of the required 3% minimum down payment on a conventional loan.

Ullmann shared his perspective, saying, “I’ve observed that loan officers, including myself, who have a strong track record of assisting firsttime buyers and possess in-depth knowledge of However, due to the burden of higher monthly various programs, whether it’s FHA, Home Ready/ payments resulting from elevated mortgage rates, Home Possible, or bond programs like DPA/grant Miller estimates that approximately one in four programs, are staying active in this market.” potential borrowers withdraw from transactions. Approximately half of Ullmann’s production this year is attributed to VA and FHA loans, as well as mortgages that involve down payment assistance. This is a significant increase from the usual 30%, reflecting the shifting landscape in the mortgage industry. Ullmann has been serving as a loan officer since 2012. Steve Miller, a branch manager and senior loan officer at Embrace Home Loans, echoed a similar sentiment. Approximately 60% of his clients are first-time homebuyers, and they frequently opt for FHA loans, VA loans, and DPA programs. Miller observed, “Borrowers are, unfortunately, stretching their financial qualifications further than they would have in the past, particularly in the context of lower interest rate environments. For instance, borrowers who previously had a 40% debt-to-income (DTI) ratio may now push that limit to 45% or even 50% DTI in order to secure a home in today’s higher rate environment.” He emphasized that affordability is facing significant challenges in the current market. FHA loans have become an attractive choice for borrowers with lower FICO scores or those who need to qualify with slightly higher debt-to-income (DTI) ratios. The reduction in mandatory mortgage insurance premiums to 55 basis points (bps) for most borrowers in February has made FHA loans even more appealing, given their typically lower interest rates compared to conventional loans.

Miller explained, “There isn’t a specific interest rate number that triggers borrowers to back out. It’s more about the conversations we have to engage in regularly, understanding the borrower’s overall financial situation, and the impact the new mortgage payment will have on their finances. Ultimately, education and careful planning are essential for the success of these transactions.” Loan officers reported that they were quoting interest rates of around 7.7% for very wellqualified borrowers, with less-qualified borrowers receiving quotes exceeding 8%. Mortgage rates, which generally track the yield on the 10-year Treasury, are on the verge of crossing the 8% threshold, even for the most creditworthy borrowers. “There are scenarios where current loan rates exceed 8% or more. Rates for investment properties are also above 8%, and conventional loans for borrowers with less-than-ideal credit have rates exceeding 8%. Will an 8% mortgage rate significantly impede business for all loan officers? In my opinion, no, but it certainly won’t provide any relief, particularly for those loan officers who have already faced a sluggish year,” remarked Ullmann.

Numerous down payment assistance programs, OCTOBER 2023

OCTOBER 2023

Empowering Communities through Financial Education: The Journey of Denise Hunt and Walking In Prosperity

n a world marked by financial challenges and disparities, there’s a shining beacon of hope in the form of “Walking In Prosperity,” a non-profit organization founded in 2023 with the mission of closing the wealth gap through financial education. This blog post delves into the heartwarming story of Denise Hunt, the driving force behind this movement, as well as the core

values and vision of Walking In Prosperity.

DENISE HUNT: A PASSIONATE ADVOCATE FOR FINANCIAL LITERACY OCTOBER 2023

Denise Hunt, the founder of Walking In Prosperity, is a passionate advocate for financial literacy. With 14 years of experience in the financial industry, a Bachelor of Arts in Sociology from the University of California, Los Angeles, and an MBA specializing in Finance from the University of Redlands, Denise is well-equipped to lead the charge for financial education.

A PURPOSE BORN FROM EXPERIENCE Denise’s journey to becoming a champion of financial literacy began with her upbringing in modest circumstances in Southern California. She witnessed firsthand the impact of the lack of financial education on generational wealth within her family and minority communities. This exposure ignited a deep-seated desire to make a change.

TRANSFORMATIVE KNOWLEDGE AND EXPERIENCE Denise’s academic journey and professional experience in the financial industry played a pivotal role in shaping her commitment to financial education. Her interest in investments, including real estate and the stock market, was awakened during her pursuit of an MBA with a specialization in Finance. Denise knows the transformative power of financial knowledge and responsible money management.

WALKING IN PROSPERITY: BRIDGING THE WEALTH GAP Driven by her extensive experience and a fervent desire to empower her community, Denise Hunt founded Walking In Prosperity. This non-profit organization is on a mission to provide free resources, tools, and guidance to help individuals of all backgrounds navigate the complex world of personal finance. Denise’s life purpose is to be an advocate for financial literacy and to work towards closing the wealth gap in her community.

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CORE VALUES: BUILDING HEALTHY FINANCIAL BEHAVIORS Walking In Prosperity is built on a strong foundation of core values that guide their work: 1.A PATIENT HEART “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” (Proverbs 13:11) 2.A WISE PLANNER“A wise man thinks ahead; a fool doesn’t, and even brags about it.” (Proverbs 13:16) 3.A BUDGETER “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?” (Luke 14:28) 4.A SAVER “Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.” (Proverbs 21:20)

BELIEVE AND RECEIVE: PROSPERITY & WEALTH Walking In Prosperity’s slogan, “Sowing Wisdom, Reaping Prosperity,” reflects their belief that prosperity and wealth are gifts from God. They encourage individuals to believe in themselves and the possibility of financial prosperity.

CONCLUSION In a world where the wealth gap is a persistent issue, Denise Hunt and Walking In Prosperity provide a beacon of hope through their commitment to financial education and empowerment. With their core values and unwavering dedication, they are working to bring financial literacy to those who need it most, ultimately closing the wealth gap and creating a more prosperous future for their community.

LA INUNDACIÓN DIO VUELTA NUESTRAS VIDAS. CUANDO INTENTAMOS ALQUILAR UNA NUEVA VIVIENDA, SEGUÍAMOS RECIBIENDO RECHAZO. Cuando llegó la inundación, tuvimos que huir de nuestro hogar. Afortunadamente, encontramos refugio temporal. Pero cuando comenzamos a buscar un lugar para vivir, nos topamos con discriminación en la vivienda, lo que no solo es injusto, es ilegal. Si sientes que tu propietario o agente inmobiliario te ha negado la venta, el alquiler o la financiación de una vivienda por motivos de raza, color, religión, sexo, nacionalidad, discapacidad o porque tienes hijos, repórtalo a HUD o a tu centro local de igualdad de vivienda.

Visita hud.gov/fairhousing o llama al 1-800-669-9777 Servicio de Retransmisión Federal 1-800-877-8339 IGUALDAD DE VIVIENDA: LA LEY ESTÁ DE TU LADO. Un mensaje de servicio público del Departamento de Vivienda y Desarrollo Urbano de los Estados Unidos en cooperación con la Alianza Nacional de Igualdad de Vivienda. La Ley Federal de Igualdad de Vivienda prohíbe la discriminación por motivos de raza, color, religión, nacionalidad, sexo, situación familiar o discapacidad. OCTOBER 2023

ECONOMIC NEWS

PHOTOS FROM 123RF

Balancing Act: Navigating the Housing Market Amidst GDP Growth

n the ever-evolving landscape of the U.S. economy, keeping a close eye on key economic indicators is essential for both homeowners and prospective buyers. Recent data highlights a noteworthy disparity between two critical metrics: the GDP growth and new home sales. While the GDP has been on an upward trajectory, new home

OCTOBER 2023

sales have shown a different trend. This article explores the reasons behind this divergence and offers insights into how homeowners can prepare for a shifting economic landscape.

THE GDP GROWTH SURGE

The U.S. Gross Domestic Product (GDP) has been on an impressive rise, with the latest estimates pushing the third-quarter growth rate to 3.7% quarter-over-quarter seasonally adjusted annual rate (q/q saar). This growth rate is an encouraging sign for the overall economy, demonstrating resilience in the face of various challenges. The labor market

remains robust, and inflation, though moderated, has not led to the dreaded recession some had feared earlier in the year.

NEW HOME SALES DECLINE

In stark contrast to the robust GDP growth, the data on new home sales paints a different picture. In August, new single-family home sales decreased to a seasonally adjusted annual rate of 675,000, marking an 8.7% drop from the revised July rate of 739,000. This decline was primarily driven by decreases in the South, West, and Midwest regions, with the Northeast being the only area to witness an increase in sales.

UNDERSTANDING THE DISPARITY Several factors contribute to this disparity between GDP growth and new home sales. One of the key drivers is the current state of the housing market, characterized by rising home prices and limited housing inventory. The median sales price of new houses in August was $430,300, with an average price of $514,000. These prices, while reflecting some fluctuations, remain relatively high, potentially pricing some prospective buyers out of the market. Additionally, supply chain disruptions and rising construction costs have slowed down the pace of new home construction, making it more challenging for buyers to find affordable options. Higher interest rates also play a role, increasing the cost of borrowing for homebuyers.

PREPARING FOR ECONOMIC UNCERTAINTY Given these economic dynamics, it’s essential for homeowners and prospective buyers to prepare for potential challenges and uncertainties in the housing market. Here are some strategies to consider:

Homeowners should review their financial situations and ensure they have a financial cushion to weather unexpected economic downturns. This may include setting aside emergency funds and managing debt responsibly. 2.STAY INFORMED: Keeping a close eye on economic trends and housing market indicators is crucial. Homeowners should stay informed about changes in interest rates, housing inventory levels, and regional market conditions. 3.LONG-TERM PERSPECTIVE: For those considering buying a home, it’s essential to take a long-term perspective. Homeownership should be viewed as a longterm investment, and buyers should be prepared for potential fluctuations in the market. 4. DIVERSIFY INVESTMENTS: Diversifying investments beyond real estate can provide a safety net in case the housing market experiences a downturn. Consider diversifying your portfolio with stocks, bonds, or other assets. 5. CONSULT A FINANCIAL ADVISOR: Seeking guidance from a financial advisor can help individuals make informed decisions tailored to their unique financial situations and goals.

CONCLUSION

The disparity between the strong GDP growth and the challenging environment in the housing market highlights the importance of being prepared for economic fluctuations. While the broader economy may be growing, homeowners and prospective buyers should approach the housing market with caution, taking steps to secure their financial well-being in the face of uncertainty. By staying informed and planning wisely, individuals can navigate the evolving economic landscape with confidence.

1.FINANCIAL PLANNING: OCTOBER 2023

REAL ESTATE NEWS

The Mortgage Hurdle: Rising Home Prices and Income Challenges

PHOTOS FROM 123RF

n an era marked by soaring home prices and escalating interest rates, the dream of homeownership is becoming increasingly elusive for many individuals. As monthly mortgage payments climb higher, the ability to secure a mortgage, in the first place, has grown more challenging. A recent report from the Consumer Financial Protection Bureau sheds light on the concerning trend of denied

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loan applications, primarily due to “insufficient income,” reaching a record high in 2022.

RISING DENIALS: A GROWING DILEMMA According to the Consumer Financial Protection Bureau, last year saw an unprecedented rise in

the rejection of loan applications on the grounds of “insufficient income.” In fact, this was the most common reason for loan denials since records began in 2018. In total, 9.1% of home purchase applications were denied in 2022, marking a slight increase from 8.3% in 2021 but a marginal decrease from 9.3% in 2020. The situation was even more challenging for refinance applications, which saw a substantial rejection rate of 24.7% in 2022, a significant jump from the 14.2% rate in 2021.

INCOME-BASED DENIALS ACROSS DEMOGRAPHICS The impact of these denials is felt across different demographics. For instance, “insufficient income” was responsible for over 50% of denials for Asian American applicants, 45% for Black and Hispanic applicants, and approximately 40% for white applicants. These figures have increased significantly since 2018 when they were below 40% for each group.

THE IMPACT OF RISING COSTS One of the primary factors contributing to this predicament is the substantial increase in the average monthly mortgage payment, which surged by 46% from $1,400 in December 2021 to $2,045 in December 2022. This surge can be attributed to both rising mortgage rates and soaring home prices, which have responded to the Federal Reserve’s interest rate hikes.

●DEBT-TO-INCOME RATIO (DTI): Focus on your DTI, a crucial factor for lenders. Ideally, your housing expenses, including mortgage, property taxes, and insurance, should not exceed 28% of your gross monthly income. Total debt, including mortgages, credit cards, and auto loans, should stay below 36%. ●CREDIT SCORES: Monitor your credit scores vigilantly. A higher credit score not only increases your chances of approval but also secures better interest rates. A mere 1% difference in mortgage rates can significantly impact your monthly payment. ●BUDGET ADJUSTMENTS: If your DTI ratio is high, consider adjusting your housing expectations or working on reducing other debts to improve your financial profile.

CONCLUSION As the housing market continues to evolve, the confluence of rising home prices, interest rates, and income challenges presents a formidable hurdle for aspiring homeowners. Being informed and proactive about your financial situation, debt management, and credit score can help you navigate these challenges and increase your chances of achieving the dream of homeownership. In these times of financial uncertainty, preparation and financial stability are more important than ever.

NAVIGATING THE MORTGAGE MAZE Given these challenges, prospective homeowners must navigate the mortgage landscape with caution. Here are some key considerations: ●FINANCIAL PLANNING: Assess your financial situation realistically and ensure you have a sustainable income to cover your mortgage payments comfortably. OCTOBER 2023

GSFA Celebrates 30 Years Paving a Path to Homeownership in California

olden State Finance Authority (GSFA) celebrates 30 years paving a path to homeownership for lowand-moderate income California households, having helped over 85,000 individuals and families to purchase a home and provided more than $660 million in down payment and closing cost assistance. Join us as we showcase our beginning, our mission, and the many achievements of the past three decades.

GOLDEN STATE FINANCE AUTHORITY’S BEGINNING GSFA was organized as a Joint Powers Authority (JPA) in 1993 by the Rural County Representatives of California, under the original name California Rural Home Mortgage Finance OCTOBER 2023

Authority and represented 18 counties in California. As the JPA expanded its membership across the state, the name was changed to Golden State Finance Authority in February 2015. Today membership includes 56 counties and hundreds of cities across California with financial assistance programs throughout the state. Our vision to address housing affordability and the commitment of an innovative and missiondriven team over the span of three decades, hails a proven champion for affordable and responsible homeownership and economic development in California.

PRIMARY MISSION: EXPANDING HOMEOWNERSHIP OPPORTUNITIES The primary mission of GSFA was, and still is, to expand homeownership opportunities to Californians. To meet that mission, GSFA develops and administers programs to provide a source of financing for individuals and families to purchase a home or make energy efficiency improvements to their existing homes. GSFA has advanced homeownership opportunities to more than 85,000 individuals and families in California by delivering financial assistance to those needing funds for the initial cash investment necessary in homebuying. Over the past 30 years, GSFA has provided over $660 million in down payment and closing cost assistance to California homebuyers and participated in over $15.6 billion in loan financing of first and second mortgages. 85,000 Individuals and Families Helped $660 Million in Down Payment and Closing Cost Assistance Provided

WHY HOMEOWNERSHIP MATTERS Research compellingly supports that homeownership leads to positive social and economic outcomes for families, communities, and the country. The National Association of REALTORS® Research Division reviewed various studies on homeownership and concluded in their December 2016 paper “Social Benefits of Homeownership and Stable Housing,” that “Homeownership boosts the educational performance of children, induces higher participation in civic and volunteering activity, improves health care outcomes, lowers crime rates and lessens welfare dependency.” Homeownership Benefits:

z Brings Stability to Neighborhoods z Has a Positive Impact on Educational Achievement

z Promotes Civic Engagement z Yields Better Physical and Psychological Health z Reduces Crime

MAKING AN IMPACT – CHANGING LIVES “One of my favorite roles is when I receive letters or get to interview new homeowners who want to share their appreciation for the down payment assistance from GSFA,” said Carolyn Sunseri, GSFA Director of Marketing and Stakeholder Relations. “For many people, they don’t believe that down payment assistance is a reality. Or they think that because of some challenge they have faced in their life or their finances, they don’t think homeownership is a possibility. It brings me such joy to hear how proud they are to now own their own home.” 1. A COUPLE RETURNING TO THE HOUSING MARKET AFTER FINANCIAL HARDSHIP Greg and Christine Jefferson faced financial hardship during the great recession in 2009, ultimately losing their first home and filing for bankruptcy. A few years later, they were ready and wanting to own a home again, but with a fixed income as retirees, the prospect of saving up for the down payment seemed daunting. “It was horrible”,” said Christine. “We never even thought, we just figured we’re older now, we will just rent, we gotta live somewhere we will just rent a house. We had just resigned that homeownership was just out of our reach.” After seven years of renting, they learned that it only takes three years after a bankruptcy for someone to be able to apply for a mortgage again. Excited, they contacted a lender to get started, but ran into a problem coming up with the money for a down payment.

“At the time we had a “pre’ approved” loan from our lender. We had looked at several OCTOBER 2023

homes and finally settled on and submitted offers on them. It was at that point that although we had a “Pre Approval” amount from the lender it did not include the “Down Payment’ which turned out to be substantial as both of us are retired and living on a fixed income,” said Greg Jefferson. “Next entered our “Angels” in the form of The “Golden State Finance Authority”, said Greg. In 2017, GSFA furnished the Jefferson’s with a gift of 3.5% of their loan amount to cover the required down payment on their new home purchase, making homeownership possible again.

“There is a story in the Bible where Jesus healed 10 sick people. Only one came back to say thanks. I know that GSFA is not Jesus but you were Jesus to us on that day!!” said Greg.

2. A MOTHER DETERMINED TO SEE HER SPECIAL NEEDS SON THRIVE AT HOME As a single mom, Melanie Christian watched her severely disabled son become more and more depressed, afraid and hopeless living in a group home environment. She began to pray for a solution that would allow her to care for him at home, manage his medical issues, schooling and behavior.

“I was living in a room with roommates after placing my son with disabilities into a group home. It was the hardest thing I have ever done. I was grieved and sad and overwhelmed by the separation, but I was also dealing with so much stress that I couldn’t take care of him alone anymore,” said Melanie. “I had a great job as an interpreter for the deaf. However, living in the bay area was difficult to afford even with a good salary. I needed to be in a place that I could afford and that would allow me to feel financial relief on a minimal income so that I could stay home more and take care of my son. I had been looking in several areas as I worked on my credit and took care of my finances.” She heard about down payment assistance from GSFA from her loan officer, who was familiar with her situation and “her heart,” she said. In 2017, she bought a home for her family.

“She had so much compassion for my story and for Lukas. She worked so hard to help us in every possible way to get the loan and all the help available. She assured me I would be able to handle the closing costs with the help of your assistance,” said Melanie. “I am more than grateful. I prayed specifically for this. I did not want to seek help from my family in obtaining this loan for my new home. I knew God would provide. He did that through this assistance. Thank you!” OCTOBER 2023

assistance from GSFA.

“I would have never believed that I could ever buy a condo. I love having this 3-bedroom, 3 bath home with 1,821 sq ft on a 2,911 sq ft lot. I thank Golden State Finance Authority Platinum Down Payment Assistance Program for their help to offset my down payment. I felt that I had attained the American Dream, which I had heard about, but never believe that I could accomplish, being a black man born and raised in the projects in Detroit,” said Marvin Randolph.

3. A DREAM COME TRUE FOR AN AFRICAN AMERICAN MAN FROM THE DETROIT PROJECTS Real estate is a larger factor in net worth. According to the Federal Reserve 2019 Survey of Consumer Finances, someone who owns a home has a median net worth of $255,000 versus a median net worth of $6,300 for someone who does not. But the U.S. Census Bureau also reported that the homeownership rates for Black, Hispanic and other non-white ethnicities falls far below those of white households. For the past three years, GSFA has engaged in a concentrated marketing and outreach campaign to bring education to underserved communities about down payment resources for homebuyers, with the goal to improve the homeownership rates of non-white households and help them build financial security through homeownership. The impact on individuals and families who once thought homeownership was out of reach is palpable, as noted by Marvin Randolph who purchased a home in 2021 with financial

FINANCING FOR ENERGY EFFICIENCY AND ENERGY STORAGE In 2010, GSFA expanded its operations into the provision of energy efficiency financing programs for residential and commercial properties. These programs were designed to help property owners improve energy costs, reduce the environmental OCTOBER 2023

impact of energy use and demand, and boost California’s economy through job creation. GSFA has participated in financing over 36,000 residential and commercial energy efficiency projects, totaling over $1 billion. Ten years later, GSFA expanded its services even further, becoming a conduit for developers and contractors to access rebates for the installation of energy storage technology at both residential and commercial facilities. By providing bridge financing between grant approval and reimbursement, the financial hurdles for qualifying residents would be lightened, resulting in getting services to those who need it the most as efficiently as possible.

“Providing the best products and services possible while developing strong relationships with business partners that make our endeavors viable is the heart of our organization. At times this means juggling challenging financial markets and shifting priorities as the real estate market fluctuates. I am proud to be a part of an organization that continues to innovate and evolve to improve the lives of so many.” - Craig Ferguson, GSFA Deputy Director

ECONOMIC DEVELOPMENT PROJECTS WITH A FOCUS ON RURAL CALIFORNIA The agency’s impact on California’s economy over the past 30 years, and especially that of rural California, extends well beyond establishing affordable homeownership solutions. GSFA is now involved in a variety of economic development projects indirectly related to housing that provide transformative services to local communities and meet the needs of California’s growing population.

OCTOBER 2023

z Partnership with USDA to Provide Down Payment Assistance Gifts z Broadband Grant Funding for Rural California Counties z Volunteer Efforts with Charitable Organization z Emergency Disaster Assistance to Forest Fire Impacted Communitie z Loan Fund for County Infrastructure Projects In the last few years, GSFA provided over $3.5 million in emergency disaster assistance to address the impact of forest fires on California residents. These funds were provided to assist residents with temporary housing as well as rebuilding or obtaining future long-term residences. The agency has also invested millions in broadband deployment, provided millions to advance wildfire resilience efforts, and established a one-of-a-kind revolving loan fund to assist counties with implementing infrastructure projects. “All of these investments are designed to help rural California thrive. These milestone achievements would not be possible without the direction of our Board and the dedication of our amazing staff. I congratulate them all for their expertise and long-term commitment that has been integral to GSFA’s success.” - Patrick Blacklock, GSFA Executive Director FOR MORE INFORMATION ABOUT GSFA call toll-free (855) 740-8422 or visit www.gsfahome.org.

Join Our Mission

GSFA Celebrates 30 Years Paving a Path to Homeownership 85,000

Individuals and Families Helped to Purchase a Home

$660 Million

In Down Payment and Closing Cost Assistance Provided

Be Your Client's Link to Down Payment Assistance and Close More Sales • Learn more about GSFA Programs • Download marketing materials • Link up with GSFA Participating Lenders

$3.5 Million

In Emergency Disaster Assistance Given Back to California Residents

gsfahome.org (855) 740-8422

OCTOBER 2023 20230623TPIN

LEGAL NEWS

Restarting the Federal Student Loan Payments: Your Guide to Options and Assistance

fter a hiatus lasting since March 2020, millions of federal student loan borrowers are about to face a significant financial shift as payments become due once again. This transition can be challenging, particularly for those who are making payments for the first time since graduating. To help borrowers manage this crucial juncture, it’s essential to explore the available options and stay informed about potential avenues for reducing or even canceling student loan debt. Moreover, if you encounter difficulties with your student loan servicers, the Consumer Financial Protection Bureau (CFPB) is here to help.

OCTOBER 2023

EXPLORING LOAN CANCELLATION AND REDUCTION OPTIONS One of the key takeaways is that there are various options available to borrowers. The Department of Education recently canceled over $116.6 billion in loans through different programs, offering hope to many more borrowers who might be eligible. For instance: Borrowers who have been in repayment for over 20 years or those who borrowed less than $12,000 and have been in repayment for over 10 years could qualify for the Department of Education’s “SAVE” plan. ●Those working in qualifying roles, such as nonprofits or government agencies, may be eligible for Public Service Loan Forgiveness. ●Total and permanent disability or deceptive practices by schools could also lead to loan cancellation. ●If you believe you qualify for any of these programs, you can apply online or reach out to your loan servicer for assistance.

EXPLORING INCOME-DRIVEN REPAYMENT OPTIONS Income-driven repayment plans provide another avenue for reducing monthly payments. These plans allow borrowers to lower their payments, sometimes down to $0, depending on their income. The Department of Education’s newest income-driven plan, in particular, is expected to benefit over 1 million borrowers with a $0 payment. Enrollment in income-driven repayment can be done online or by contacting your loan servicer.

PROTECTIONS All borrowers should be aware of temporary protections in place if they miss payments. While interest may accrue if payments are missed, it should not capitalize. Borrowers are also protected from negative credit reporting, default placement, and referral to collection agencies for late, missed, or partial payments for up to 12 months. It’s crucial to note that these safeguards should not be used by servicers to delay assisting borrowers, and if you have concerns, contacting the CFPB is recommended. Getting Answers and Assistance For detailed information on these programs, visit StudentAid.gov or reach out to your loan servicer for guidance.

THE POWER OF CONSUMER COMPLAINTS The CFPB is dedicated to ensuring that student loan servicers adhere to the law and provide appropriate assistance to borrowers. Consumer complaints are a potent tool in this effort. If you encounter any problems with your student loan, don’t hesitate to submit a complaint to the CFPB. Your complaint helps us assist you, identifies emerging issues, and holds companies accountable for their actions. As federal student loan payments restart, it’s crucial to be informed and proactive. Explore your options, know your rights, and remember that help is available. The CFPB stands ready to support you on your student loan journey.

UNDERSTANDING TEMPORARY OCTOBER 2023

HOUSING DISCRIMINATION

UNMASKED.

Don’t let housing discrimination get covered up. “ When I went looking for an apartment, I wore a mask. But they could still see I’m Black. I was told that they wouldn’t rent to me because they heard Black people were disproportionately getting COVID-19.” COVID-19 inequity is real, and it shouldn’t be made worse because of housing discrimination. If you suspect housing discrimination because of your race, color or national origin, file a complaint with HUD or your local fair housing center so we can investigate it.

For more information, go to: hud.gov/fairhousing or call 1-800-669-9777 Federal Relay Service 1-800-877-8339 FAIR HOUSING: THE LAW IS ON YOUR SIDE. A public service message from the U.S. Department of Housing and Urban Development in cooperation with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. OCTOBER 2023

WILDFIRES DON’T CARE ABOUT YOUR RACE. BUT WHEN WE TRIED TO RENT A NEW PLACE TO LIVE, WE LEARNED THAT SOME LANDLORDS DO. When the fire came, we had to run from our home. Fortunately, we found temporary shelter. But as we started looking for a place to live, we ran into housing discrimination, which isn’t just unfair – it’s illegal. If you feel that a landlord or broker has denied you the sale, rental or financing of a home based on your race, color, religion, sex, national origin, disability or because you have children, report it to HUD or your local fair housing center.

Go to hud.gov/fairhousing or call 1-800-669-9777 Federal Relay Service 1-800-877-8339

FAIR HOUSING: THE LAW IS ON YOUR SIDE. A public service message from the U.S. Department of Housing and Urban Development in cooperation with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. OCTOBER 2023

POWER TO YOU

3 Ways to Prepare as Holiday Shoppers Brace for More Financial Strain This Year The holiday season is a time of joy and celebration, but it can also bring financial stress for many shoppers. With ongoing economic challenges and uncertainties, it’s essential to be well-prepared as we approach this year’s holiday shopping season. In this article, we will explore three effective ways to help you navigate the upcoming holidays while minimizing financial strain.

CREATE A REALISTIC BUDGET OCTOBER 2023

The foundation of successful holiday shopping lies in creating a realistic budget. Start by assessing your current financial situation, taking into account your income, expenses, and any outstanding debts. Once you have a clear picture of your financial standing, set a reasonable spending limit for your holiday shopping. Consider all holiday-related expenses, including gifts, decorations, travel, and special meals. Allocate a specific amount to each category

to ensure you stay within your budget. While it’s tempting to splurge during the holidays, remember that staying within your means will help you avoid post-holiday financial stress.

PLAN EARLY AND SHOP STRATEGICALLY Early planning and strategic shopping can significantly reduce the financial burden of the holiday season. Here are some tips to consider: ●START SHOPPING EARLY: Avoid the last-minute rush, which often leads to overspending. Begin your holiday shopping well in advance to take advantage of early discounts and sales.

are also about spreading joy and kindness. Consider these ideas to maintain the holiday spirit without straining your finances: ●SET EXPECTATIONS: Communicate with your loved ones about your financial situation and set realistic expectations for gift exchanges. Encourage creative and meaningful gift ideas that don’t necessarily come with a high price tag. ●SUGGEST ALTERNATIVE CELEBRATIONS: Instead of traditional gift exchanges, consider alternative ways to celebrate, such as volunteering together or organizing a potluckstyle holiday meal. ●SECRET SANTA OR WHITE ELEPHANT: Opt for Secret Santa or White Elephant gift exchanges with spending limits. This adds an element of fun while controlling costs.

●MAKE A SHOPPING LIST: Create a list of gift recipients and the type of gifts ●GIFTS OF TIME AND SERVICE: you’d like to purchase. Having a clear plan will prevent impulse buying and help you stick to your Offer the gift of your time or services. Whether it’s babysitting, cooking a meal, or helping with budget. household chores, these gestures can be deeply appreciated. ●COMPARE PRICES: Before making a purchase, compare prices from Conclusion various retailers, both online and in-store. Use As we approach the holiday season, it’s crucial price comparison websites and apps to find the to prepare wisely to avoid unnecessary financial best deals. strain. By creating a realistic budget, planning ahead, and embracing the spirit of giving, you can enjoy the holidays without breaking the bank. ●CONSIDER HOMEMADE GIFTS: Remember that the true essence of the season Thoughtful, homemade gifts can be just as cherished as store-bought ones. Get creative and lies in the joy of spending time with loved ones explore DIY gift ideas that align with your budget. and spreading warmth and kindness. ●UTILIZE COUPONS AND REWARDS: Take advantage of coupons, cashback offers, and loyalty rewards programs. Many retailers offer discounts to loyal customers during the holiday season.

EMBRACE THE SPIRIT OF GIVING The holidays are not just about gift-giving; they

OCTOBER 2023

Where Starting Over happens every day!

We’re Starting Over, Inc. - a 501(c)(3) organization dedicated to supporting and uplifting people experiencing the effects of mass incarceration, systemic racism, housing insecurity, substance addiction, and mental health issues. We believe that people impacted by these issues are the ones closest to the solutions, which is why we are a Black-led and criminal justice-impacted organization engaged in this work. From experience, we’ve learned that housing is critical, but alone, it is not enough to support those exiting prisons or the streets. We not only provide transitional housing, but also include holistic services such as peer support, case management, employment, wellness, and reentry services. We also work to address the root causes of our houseguests’ difficult situations, leading grassroots organizing and policy initiatives in the Inland Empire region and statewide. Established in 2009, we’ve served over 1,400 men, women, and families in Riverside and Los Angeles Counties through the reentry and transition process. We believe that the past does not define our future. We’re invested in creating safe and equitable opportunities for all members of our community, and especially those with past convictions. Housing opportunities are crucial for our community members and directly affect their ability to thrive. Starting Over, Inc. is committed to reducing and eliminating the many barriers to life after incarceration. We have a deep commitment to identifying and implementing evidence-based approaches to strong communities and families. We seek to creating program/project solutions where the need exists in our community. We do lots of things at Starting Over, Inc. - but our primary goal is to address the immediate effects and root causes of incarceration, be it through housing, employment, legislation, or community organizing. To get involved with our initiatives, access our services, or support our work through donations, you can reach us at (951) 898-0862 or office@startingoverinc.org.

OCTOBER 2023

www.startingoverinc.org

6355 Riverside Ave Suite 100,

Our programming and projects include, but are not limited to:

Transitional Housing

We currently operate eight homes in LA and Riverside Counties open to men, women, and children, with options for sober living or harm-reduction housing. All of our services are available to our houseguests, many of whom have been unable to obtain housing after being released due to their conviction histories. Case Management

Our Case Management specialists provide support to our guests with obtaining necessary documents/identification and accessing insurance, education, healthcare, clothing, food, & more. Peer Support

Our houseguests are not alone - our support specialists, having experienced incarceration, addiction, and homelessness themselves - understand our guests' needs and the barriers they face. We’re here to meet our guests wherever they are in their journeys and to support them moving forward through empowerment, support with recovery, referrals, and mentorship. Family Reunification, Equity, & Empowerment (FREE) Project

Mass incarceration affects not just individuals, but families - many of our community members and guests experience family separation at the hands of the child welfare system. The FREE Project is system-impacted led and organizes parents and family members in a non-judgemental space, advising on best practices and dependency court procedures. We recently sponsored and passed a statewide bill that eliminates major barriers to child placement and allows family members with criminal convictions unrelated to caring for children to be considered as placement options allowing for suitable family members with criminal convictions to step up in times of crisis. Employment

Through our Path to SEED program, we connect guests and community members with employment opportunities and provide training & support regarding obtaining and retaining employment, often a major hurdle for formerly incarcerated individuals. Marshall Legal Clinic

Our free clinics provide relief for expungements, wills/trusts, immigration, and more with the support of local legal organizations. Policy Advocacy

In the past year, we’ve co-sponsored and/or supported nearly a dozen statewide bills to reduce the scale of mass incarceration and its collateral consequences. We’ve also worked locally to influence Riverside County to reduce criminal history look-back periods from 7 years to 3 years in 2017 and to enable youth coming out of probation to be able to stay with their family members in subsidized housing. Grassroots Organizing & Civic Engagement

Our Participatory Defense organizing model (based on Silicon Valley De-Bug) empowers family and community members in the courtroom to positively impact their loved one’s outcome and to bring them home. As fiscal sponsor and start-up organization of Riverside All of Us or None (a chapter of a national initiative of formerly incarcerated people, family members, and allies advocating for the rights of the currently and formerly incarcerated people) we ensure that system impacted leadership remains at the center of the fight to keep our community together and address the social problems that incarceration purports to solve. Our community outreach team also disseminates voter registration and public health information regarding COVID-19, and we organize food and clothing relief for community members in need.

(951) 898-0862 OCTOBER 2023

GREEN | SUSTAINABILITY NEWS

California’s Bold Step Towards Solar Power: Gov. Newsom Signs Legislation to Harness Highway Real Estate

n a significant move towards bolstering California’s clean energy sector, Governor Gavin Newsom has recently signed legislation aimed at promoting solar power infrastructure along the state’s extensive highway network. Sponsored by Environment California and authored by Senator Josh Becker, SB 49 is set to unlock the untapped potential of highway-side land for renewable energy generation. Laura Deehan, the state director of Environment California, hailed the governor’s decision, OCTOBER 2023

emphasizing its significance in advancing clean energy leadership. She stated, ”Gov. Newsom is asserting California’s clean energy leadership by opening up some of the most promising, yet underutilized, areas for solar: land next to our highways. California can now drive faster toward a future powered by clean energy with the help of solar along roadsides.” SB 49 outlines a comprehensive strategy for the state to evaluate and harness solar energy, battery storage, and transmission infrastructure along its highways. This initiative aligns with California’s ambitious clean energy targets, aiming to generate 90% of the state’s power by 2035 and reach 100% by 2045. Moreover, the bill lays the groundwork for organizations to operate and develop renewable energy infrastructure within state-owned rights-ofway. David Peters, Western Regional Manager of The Ray, expressed optimism about the prospect of utilizing the space along highways for renewable energy. He noted, ”California is now in a position to realize the full potential of its rights-of-way. The underutilized space along highways is ideal for generating not only clean energy but also revenue for the state. We’re looking forward to seeing highway-side solar projects soon in California.” As the national leader in solar power generation, California’s commitment to expanding solar panels to roadside land is expected to further bolster its clean energy sector, ensuring a sustainable and reliable energy source for communities throughout the state.

to the climate crisis, and implementing solar and building transmission lines along highways is just about as smart and common sense as it gets.” With more than 52,000 lane miles of state highways and over 23,000 lane miles of federal interstate highways, freeways, and expressways, California possesses substantial roadside land for solar development. A recent report by Environment California Research & Policy Center and The Ray revealed that Los Angeles, Ventura, and San Diego counties alone have the potential for nearly one gigawatt of roadside solar capacity, sufficient to power over 270,000 homes in these regions. Beyond accelerating California’s clean energy expansion, SB 49 also presents opportunities for increased state revenue through lease fees, energy sales, and reduced maintenance costs. This potential for fiscal benefits is not mere speculation, as evidenced by similar successful projects in other states, such as Augusta, Maine, where just three roadside solar installations are expected to generate substantial revenue over their lifetimes. Steven King, Environment California’s clean energy advocate, expressed gratitude to Governor Newsom for his support, emphasizing the significance of SB 49 in California’s journey towards achieving 100% clean energy. He stated, ”We thank Gov. Newsom for unlocking more solar energy in California’s built-environment, the smartest place for solar. SB 49 now becomes one of California’s many tools to reach 100% clean energy.”

Senator Josh Becker, who represents Menlo Park, expressed his satisfaction with the legislation, emphasizing the urgency of addressing the climate crisis. He remarked, ”We urgently need solutions OCTOBER 2023

COMMERCIAL NEWS

Workplace Evolution: Balancing Rent, Productivity, and Employee Well-being

n an era marked by unprecedented changes in work dynamics, the traditional concept of office space has undergone a profound transformation. The once-rigid boundaries of the workplace have blurred, and companies are reevaluating their spatial needs with a critical eye, often guided by a rigorous calculation: Rent vs. Productivity. As organizations navigate the post-pandemic landscape, this calculation has become a pivotal factor in shaping the future of workspaces. In this blog, we delve into the compelling trend of how companies are reassessing their spatial strategies with a keen focus on optimizing both cost-efficiency and employee productivity. Welcome to the new era of workspace dynamics.

OCTOBER 2023

THE EVOLVING WORKPLACE LANDSCAPE - EXPLORE THE FACTORS DRIVING CHANGE The traditional office environment, once characterized by rows of cubicles and fixed desks, has been rapidly evolving. The catalyst for this transformation can be attributed to a confluence of factors that have reshaped the way companies view and utilize their office spaces. Let’s delve into the key drivers behind this evolving workplace landscape:

REMOTE AND HYBRID WORK MODELS One of the most prominent factors contributing to the shift in workspace dynamics is the widespread adoption of remote and hybrid work models. The COVID-19 pandemic forced companies to swiftly adapt to remote work, and many have found that employees can be productive outside of the traditional office setting. This realization has prompted businesses to rethink the necessity of large, centralized office spaces.

TECHNOLOGICAL ADVANCEMENTS The proliferation of advanced communication and collaboration tools has revolutionized the way teams work together. From video conferencing to cloud-based project management, technology has enabled seamless connectivity across geographies. As a result, employees are no longer tethered to a physical office, opening up possibilities for flexible work arrangements.

EMPLOYEE WELL-BEING AND PREFERENCES The pandemic has underscored the importance of employee well-being and job satisfaction. Many workers now prioritize flexibility and worklife balance. Employers are responding by reevaluating office designs to create spaces that promote employee comfort, collaboration, and overall satisfaction.

minimize their carbon footprint through reduced office space and remote work options. As we explore these driving factors, it becomes evident that the modern workplace is no longer confined to a single physical location. Instead, it has become a flexible and dynamic entity that adapts to the needs and preferences of both employers and employees. In the sections that follow, we will delve deeper into the Rent vs. Productivity calculation and how it influences decisions about office space in this evolving landscape.

RENT VS. PRODUCTIVITY: A DATADRIVEN APPROACH - UNVEILING THE CALCULATIONS In this data-driven era, companies are increasingly turning to meticulous calculations to determine the optimal balance between office rent and employee productivity. The traditional view of office space as a fixed overhead cost is giving way to a more nuanced understanding of how workspace design and utilization impact the bottom line. Let’s explore the Rent vs. Productivity calculation and how it guides decisions in today’s evolving workplace landscape:

COST EFFICIENCY AND SUSTAINABILITY

●THE COST OF REAL ESTATE: For many organizations, office rent represents a significant portion of their operating expenses. By carefully assessing the cost of maintaining a physical workspace, companies can identify opportunities for cost savings. This involves evaluating the square footage required, location considerations, and lease agreements to ensure they align with the organization’s strategic goals.

Companies are increasingly focused on optimizing their real estate costs. With the economic challenges posed by the pandemic, reducing overhead expenses has become a priority. Additionally, there is a growing emphasis on sustainability, with companies looking to

●MEASURING EMPLOYEE PRODUCTIVITY: Productivity is no longer a vague concept but a quantifiable metric. Companies are increasingly relying on key performance indicators (KPIs) and data analytics to gauge employee productivity, whether working remotely or in the office. OCTOBER 2023

This data includes project completion rates, collaboration metrics, and employee feedback, all of which contribute to a comprehensive understanding of productivity levels.

FLEXIBLE WORK ARRANGEMENTS - NAVIGATING THE SHIFT TOWARDS HYBRID MODELS

●FLEXIBLE WORKSPACE STRATEGIES: The Rent vs. Productivity calculation encourages organizations to adopt flexible workspace strategies. This may involve downsizing the physical office, implementing hot-desking arrangements, or transitioning to a hybrid work model. The goal is to align the physical workspace with actual employee needs, optimizing the use of space and reducing excess capacity.

As the Rent vs. Productivity calculation gains prominence in shaping workspace decisions, companies are increasingly embracing flexible work arrangements. These arrangements, often in the form of hybrid work models, offer a path forward that combines the benefits of remote work with the advantages of in-person collaboration. Here, we explore the dynamics of flexible work arrangements and how they are transforming the modern workplace:

●THE ROLE OF TECHNOLOGY: Advanced workplace technology plays a crucial role in this calculation. IoT sensors, occupancy tracking systems, and workplace management software provide real-time insights into how office spaces are utilized. By leveraging this technology, companies can make informed decisions about space allocation and design adjustments.

1.THE RISE OF HYBRID WORK: The pandemic accelerated the adoption of remote work, highlighting its feasibility and benefits. However, it also underscored the importance of in-person interactions for collaboration and innovation. Hybrid work models blend the best of both worlds, allowing employees to split their time between remote and on-site work. This approach maximizes flexibility while maintaining a physical office presence.

●EMPLOYEE WELL-BEING AND PRODUCTIVITY: Beyond the cost considerations, the Rent vs. Productivity calculation acknowledges the link between employee well-being and productivity. A well-designed, comfortable workspace can boost morale and engagement, leading to higher productivity levels. Balancing cost savings with a conducive work environment is a key challenge in this calculation. As companies strive to strike the right balance between rent and productivity, it’s clear that data-driven decision-making is at the forefront of this shift. By leveraging data and technology, organizations can optimize their office space, reduce costs, and enhance employee satisfaction and performance. In the next section, we’ll delve into how flexible work arrangements fit into this equation, providing insights into the future of workspace strategies.

2.EMPLOYEE CHOICE: Flexibility is a cornerstone of hybrid work arrangements. Employees have the freedom to choose when and where they work, provided they meet their performance goals. This empowers individuals to create a work schedule that aligns with their personal preferences and responsibilities, promoting a healthier work-life balance 3.OFFICE UTILIZATION: Hybrid models necessitate a reevaluation of office space utilization. Instead of full-capacity offices, companies can design spaces that cater to a rotating workforce. Hot-desking, shared workstations, and collaboration zones become key components of an agile workspace, optimizing the use of physical real estate. 4.EMPLOYEE WELL-BEING: Flexible work arrangements also cater to

OCTOBER 2023

employee well-being. Reduced commuting time, increased autonomy, and the option to work in comfortable environments contribute to higher job satisfaction and overall well-being. This, in turn, positively impacts productivity and retention rates. 5.COLLABORATION AND INNOVATION: While remote work can be highly efficient, it may lack the spontaneous interactions that drive innovation. Hybrid models strike a balance by providing designated days for in-person collaboration, fostering creativity, and building a sense of community among team members.

work models, the Rent vs. Productivity calculation remains central to decision-making. By optimizing office space for both remote and in-person work, organizations can harness the benefits of flexibility, cost efficiency, and enhanced employee satisfaction. In our next section, we explore the importance of balancing workspace design with employee well-being to create a harmonious and productive work environment.

OPTIMIZING SPACE FOR EMPLOYEE WELL-BEING - BALANCING PRODUCTIVITY AND COMFORT

6.TECHNOLOGICAL ENABLEMENT:

Creating a workspace that harmonizes

The success of flexible work arrangements relies heavily on technology. Video conferencing, project management tools, and cloud-based platforms enable seamless communication and collaboration, bridging the gap between remote and in-person work.

productivity with employee well-being is at the heart of the evolving workplace landscape. As companies reassess their spatial strategies through the Rent vs. Productivity lens, it’s imperative to strike a balance that nurtures both performance and comfort. In this section, we delve into the significance of optimizing space for employee well-being:

As companies navigate the shift towards hybrid

OCTOBER 2023

●ERGONOMIC DESIGN: Workspace design is no longer solely about aesthetics; it’s about functionality and ergonomics. Ergonomically designed furniture and equipment contribute to employee comfort, reduce the risk of work-related injuries, and enhance productivity. Adjustable desks, supportive chairs, and proper lighting are key considerations. ●NATURAL LIGHT AND GREENERY: Access to natural light and greenery can significantly improve employee well-being. Office spaces with ample windows and indoor plants create a more pleasant and inviting environment. Natural elements have been shown to reduce stress, boost mood, and increase productivity. ●NOISE MANAGEMENT: Noise can be a significant distraction in open office environments. Employers are increasingly investing in noise-cancelling technologies, acoustic paneling, and designated quiet zones to create a conducive atmosphere for focused work and collaboration. ●FLEXIBILITY IN WORKSPACE: Flexible workspace arrangements, such as hot-desking and modular furniture, empower employees to choose their work settings based on their tasks and preferences. This flexibility fosters a sense of autonomy and control, enhancing overall job satisfaction. ●WELLNESS AMENITIES: Forward-thinking companies are incorporating wellness amenities into their office spaces. On-site fitness centers, meditation rooms, and recreational areas provide opportunities for employees to relax and recharge during the workday, contributing to improved mental and physical health. ●MENTAL HEALTH SUPPORT: Employee well-being extends beyond physical comfort. Companies are increasingly recognizing OCTOBER 2023

the importance of mental health support. Providing access to counseling services, stress management programs, and resources for worklife balance is becoming standard practice. ●SUSTAINABILITY INITIATIVES: Sustainable design not only benefits the environment but also enhances employee wellbeing. Green building materials, energy-efficient systems, and eco-friendly practices align with the values of eco-conscious employees and contribute to a healthier workspace. ●EMPLOYEE FEEDBACK: Creating a well-balanced workspace involves soliciting and acting upon employee feedback. Regular surveys and open communication channels enable organizations to understand the evolving needs and preferences of their workforce, allowing for ongoing workspace adjustments. By prioritizing employee well-being in workspace design, companies can achieve a harmonious blend of comfort and productivity. This approach not only enhances job satisfaction and employee retention but also contributes to the overall success and competitiveness of the organization. As we conclude our exploration of the evolving workplace landscape, it’s clear that the Rent vs. Productivity calculation plays a pivotal role in shaping the future of workspaces that meet the evolving needs of both employers and employees.

AS COVID-19 MAKES IT

HARD FOR SOME PEOPLE TO PAY RENT, SOME LANDLORDS ARE SUGGESTING SEX INSTEAD OF RENT.

During the COVID-19 crisis, many people are struggling to pay rent. Unfortunately, some unscrupulous landlords try to force tenants to provide sexual favors in exchange for canceling or reducing rent. Sexual harassment in housing situations is illegal under the Fair Housing Act. If your landlord asks for sex or a maintenance person refuses to fix something in your apartment because you won’t provide sexual favors, that’s illegal. File a complaint with HUD and put a stop to it.

Go to hud.gov/fairhousing/sexualharassment or call 1-800-669-9777 Federal Relay Service 1-800-877-8339 If you fear for your safety, call 911.

L M O

w a

FLORIDA OCTOBER 2023

VIP AGENT

ADRIANA MONTES JD MBA

Broker | Owner

License: DBPR #BK 3096165 M: [321] 689-6258 O: [407] 654-9992

www.floridadreamsrealty.com andriana@floridadreamsrealty.com

OCTOBER 2023

By Andriana Montes

n the world of real estate, various housing options cater to different lifestyles and preferences. One such option that may pique your interest is the twin home. Often confused with duplexes or townhouses, twin homes offer a unique living arrangement that combines the benefits of single-family living with some of the conveniences of multi-unit properties. In this article, we’ll explore what a twin home is, how it differs from other housing types, and why it might be an appealing choice for both buyers and renters.

WHAT IS A TWIN HOME?

A twin home, also known as a semi-detached house, is a type of residential property that shares one common wall with an adjacent unit. These homes are designed in pairs, with each OCTOBER 2023

unit having its own separate entrance, outdoor space, and often a shared dividing wall. While twin homes share a structural wall, they are distinct and separate units, offering residents privacy and independence.

HOW TWIN HOMES DIFFER FROM OTHER HOUSING TYPES To understand what sets twin homes apart, it’s essential to differentiate them from similar housing types: ●DUPLEX: Twin homes are often mistaken for duplexes, but they have a crucial difference. In a duplex, both units are usually mirror images of each other, whereas twin homes are often designed

PHOTOS FROM 123RF

What is a Twin Home? Making Sense of Dual-Unit Living for Buyers and Renters

differently. Duplexes may have shared entryways and fewer exterior design distinctions between the ●COMMUNITY FEEL: units. Twin homes often exist in smaller, tight-knit communities, fostering a sense of camaraderie among neighbors. ●TOWNHOUSE: Townhouses are typically part of a larger complex, with units attached side by side in a row. While BENEFITS OF TWIN HOMES FOR townhouses often share walls, they are part of a larger community and may have shared amenities. RENTERS Twin homes are often standalone properties or part of a smaller twin home community. For those considering renting a twin home, there are several advantages to keep in mind ●SINGLE-FAMILY HOME: 1.PRIVACY: Twin homes resemble single-family homes in that Twin homes offer more privacy than apartments they offer individual outdoor spaces and separate or condos, as there are no units above or below, entrances. However, they share a wall with an and shared walls are typically well-insulated. adjacent unit, distinguishing them from traditional single-family homes. 2.OUTDOOR SPACE:

Renting a twin home often means having access to a private yard or outdoor area, which is a rarity in most apartment complexes.

BENEFITS OF TWIN HOMES FOR BUYERS Now, let’s explore why twin homes might be an attractive option for buyers: ●AFFORDABILITY: Twin homes often come at a lower price point compared to detached single-family homes, making them an accessible entry point into homeownership. ●PRIVATE OUTDOOR SPACE: Twin homes typically come with their own yards or outdoor areas, offering residents a sense of ownership and space for gardening or outdoor activities. ●MINIMAL MAINTENANCE: The shared wall in a twin home means that some maintenance costs, such as roofing or exterior upkeep, may be shared with the neighboring unit, potentially reducing individual maintenance expenses.

3.SPACE AND LAYOUT: Twin homes are generally more spacious than apartments, providing renters with room to spread out and create a comfortable living environment. 4.QUIET LIVING: With only one shared wall, twin homes tend to be quieter than apartments with neighbors on multiple sides.

CONCLUSION In the realm of housing options, twin homes offer a unique blend of independence and shared living. Whether you’re a buyer looking for an affordable entry into homeownership or a renter seeking more space and privacy, twin homes provide a compelling alternative to traditional single-family homes or apartments. Understanding what a twin home is and how it differs from other housing types can help you make an informed decision when searching for your next place to call home.

OCTOBER 2023

ADRIANA MONTES

FLORIDA WITH

ADRIANA MONTES NEW EPISODES ON DEMAND EVERY 2ND & 4TH FRIDAY

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MARYLA

OCTOBER 2023

VIP AGENT

EmERICK A. PEACE

OPERATING PATNER REALTOR # 320004 PHONE: (240) 882-0198

emerickpeace@kw.com

AND

OCTOBER 2023

By Emerick Peace

urchasing a home is one of the most significant financial decisions you’ll ever make, and it’s essential to get it right. One of the critical questions you’ll face is, “How much should I spend on a house?” While the answer depends on various factors, including your financial situation, goals, and location, this article aims to provide you with guidance and considerations to help you determine the right budget for your home purchase.

ASSESS YOUR FINANCIAL HEALTH

Before delving into house hunting, it’s crucial to

OCTOBER 2023

take a deep dive into your financial health. Here are some steps to consider: ●BUDGET REVIEW: Examine your monthly income and expenses to understand how much you can comfortably allocate to a mortgage payment. ●DEBT OBLIGATIONS: Take stock of your existing debts, such as student loans, credit card balances, and car loans. These will affect your overall financial picture. ●EMERGENCY FUND:

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How Much Should I Spend on a House?

Ensure you have an emergency fund in place to cover unexpected expenses. A solid financial cushion can provide peace of mind. ●CREDIT SCORE: Your credit score plays a significant role in determining your mortgage interest rate. A higher score often leads to better rates and terms.

between homeownership and achieving these goals is crucial.

LOCATION MATTERS

Real estate markets vary significantly by location. What you can afford in one city may not be feasible in another. Research the housing market in your desired location to get a sense of property CALCULATE YOUR DEBT-TO-INCOME prices and how they align with your budget.

RATIO

Lenders use the debt-to-income ratio (DTI) to assess your ability to manage a mortgage payment alongside existing debts. To calculate your DTI, divide your total monthly debt payments by your gross monthly income. Typically, lenders prefer a DTI below 43%, although some may accept higher ratios with compensating factors.

GET PRE-APPROVED FOR A MORTGAGE A pre-approval from a lender can provide you with a clear understanding of how much you can borrow. This step can help you narrow down your home search to properties within your budget.

CONSIDER YOUR DOWN PAYMENT

BE REALISTIC

The amount you put down as a down payment can significantly impact how much you should spend on a house. A larger down payment not only reduces your loan amount but can also lead to better loan terms. While 20% is often considered the benchmark, some loans allow for lower down payments.

It’s tempting to aim for your dream home, but it’s crucial to be realistic about what you can comfortably afford. Avoid stretching your budget to the limit, as this can lead to financial stress.

CONCLUSION

FACTOR IN OTHER COSTS

Determining how much to spend on a house is a personal decision influenced by your financial situation, goals, and location. Careful Remember that the cost of homeownership consideration of your financial health, debt extends beyond your mortgage payment. Consider property taxes, homeowner’s insurance, obligations, and future plans is essential in finding the right balance between homeownership utilities, maintenance, and potential homeowner and financial stability. Remember that owning association (HOA) fees. These ongoing a home is a long-term commitment, so making expenses can add up, so ensure your budget an informed decision today can lead to a more accommodates them. secure and comfortable future.

PLAN FOR FUTURE GOALS Your home purchase should align with your longterm financial goals. Consider how buying a home may impact other aspirations, such as saving for retirement, education, or travel. Striking a balance

OCTOBER 2023

WHERE YOU LIVE IS YOUR CHOICE DON’T LET ANYONE TELL YOU DIFFERENTLY. We found the home of our dreams, but the real estate agent said she thought we would be more comfortable in a different neighborhood. But I know it’s illegal to steer prospective homeowners to or from certain neighborhoods based on race or national origin. Report racial steering and put an end to it. Like we did.

SCAN HERE FOR MORE INFO

Visit hud.gov/fairhousing or call the HUD Hotline

1-800-669-9777 (English/Español) 1-800-927-9275 (TTY)

Fair Housing Is Your Right. Use It!

A public service message from the U.S. Department of Housing and Urban Development in partnership with the National Fair Housing Alliance. The federal Fair Housing Act OCTOBER 2023 prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. For more information, visit www.hud.gov/fairhousing.

DIFFERENT NATIONAL ORIGINS.

SAME FAIR HOUSING RIGHTS.

It is illegal for landlords and real estate agents to deny you housing opportunities because of your ethnicity. The Fair Housing Act prohibits housing discrimination based on national origin. If you believe you have experienced a violation of your rights, file a complaint.

Go to hud.gov/fairhousing or call 1-800-669-9777 Federal Relay Service 1-800-877-8339

OCTOBER 2023

M P M S w

MINNESO

OCTOBER 2023

VIP AGENT

FRANCINE MARsoLEK

BROKER I OWNER I REAL TOR®

Mobile: (612) 868-9344 Phone: (651) 797-4219 METRO REAL ESTATE SERVICES www.nhmres.com

francine@nhmres.com

OTA

OCTOBER 2023

Essential Tips and Home Inspection Checklist for Sellers By Francine Marsolek

elling your home can be a significant milestone, but it’s a process that requires careful planning and attention to detail. One crucial aspect of selling your home is preparing it for inspection. Home inspections are a standard part of the homebuying process, and sellers need to be well-prepared to ensure a smooth transaction. In this article, we’ll provide essential tips and a comprehensive home inspection checklist to help sellers navigate this critical phase with confidence. Whether you’re a first-time seller or looking to improve your selling strategy, these

OCTOBER 2023

insights will prove invaluable as you get your home ready for inspection and sale.

PREPARING YOUR HOME FOR INSPECTION: WHERE TO BEGIN

When it comes to selling your home, the home inspection is a pivotal moment in the process. A successful inspection can lead to a smoother sale, while unexpected issues can complicate matters. To help ensure your inspection goes as smoothly as possible, here’s where you should begin in preparing your home:

●CLEAN AND DECLUTTER: Before the inspector arrives, clean your home thoroughly. A clean, clutter-free space not only creates a positive impression but also allows the inspector to access and assess areas more easily. Pay special attention to areas like the attic, basement, and crawl spaces, which can often accumulate clutter.

home’s systems.

●ORGANIZE DOCUMENTATION: Gather all relevant documentation related to your home, such as receipts for repairs, maintenance records, and warranties for appliances or systems. Having these documents on hand can help address any questions the inspector may have and demonstrate your commitment to home maintenance.

●PEST CONTROL: Consider scheduling a pest inspection. Termites, rodents, and other pests can be major concerns for potential buyers. Address any pest issues promptly, and keep documentation of any treatments or inspections.

●EXTERIOR MAINTENANCE: Inspect the exterior of your home for any visible issues. Repair or replace damaged siding, shingles, or gutters. Trim overgrown bushes and trees away from the house, and ensure that the pathways and driveways are clear and safe for inspection. ●ADDRESS MINOR REPAIRS: Take care of minor repairs that you can handle yourself, such as fixing leaky faucets, replacing missing or damaged tiles, and repairing squeaky doors. Addressing these issues can prevent them from becoming points of concern during the inspection. ●CHECK SAFETY FEATURES: Ensure that all safety features in your home are functional. Test smoke detectors, carbon monoxide detectors, and fire extinguishers to ensure they’re in working order. This not only satisfies inspection requirements but also provides peace of mind to potential buyers. ●HVAC AND FILTERS: Change air filters in your heating, ventilation, and air conditioning (HVAC) systems. Clean or replace filters not only improves air quality but also demonstrates proper maintenance of your

●PLUMBING AND ELECTRICAL: Check for any plumbing leaks or electrical issues. Inspect faucets, pipes, and outlets for leaks or damage. Ensure that switches and outlets work correctly. Fixing these problems beforehand can prevent surprises during the inspection.

By starting your preparation with these key steps, you lay a solid foundation for a successful home inspection. A well-maintained, clean, and organized home not only presents better to potential buyers but also reduces the likelihood of major issues arising during the inspection process. In the next section, we’ll delve into top tips to ensure a successful home inspection experience.

TOP TIPS FOR A SUCCESSFUL HOME INSPECTION As a seller, you want your home inspection to proceed smoothly, with minimal surprises. Here are some top tips to ensure a successful home inspection: 1.HIRE A QUALIFIED HOME INSPECTOR: Begin by selecting a reputable, licensed home inspector with a track record of thoroughness and professionalism. Consider asking your real estate agent for recommendations or researching local inspector reviews. 2.BE TRANSPARENT ABOUT KNOWN ISSUES: It’s in your best interest to disclose any known issues with your property upfront. Honesty about past repairs or ongoing maintenance can foster OCTOBER 2023

trust between you and the inspector. 3.PREPARE TO BE AWAY DURING THE INSPECTION: While it’s not mandatory, it’s often a good idea to give the inspector space to do their job without interference. Buyers and their agents may accompany the inspector, and your presence could make them uncomfortable or anxious. 4.MAKE ALL AREAS ACCESSIBLE: Ensure that all areas of your home are easily accessible, including attics, basements, crawl spaces, and storage areas. Clear away any obstructions that may impede the inspector’s access. 5.LEAVE KEYS AND DOCUMENTATION: Leave keys for any locked areas the inspector needs to access, such as garages or utility rooms. Also, provide documentation for any recent repairs, warranties, or permits related to your property. 6.MAINTAIN A NEUTRAL ATTITUDE: Emotions can run high during the inspection, especially if you’ve lived in your home for a long time. Try to remain neutral and professional throughout the process. Remember, the inspector’s goal is not to find fault but to assess the property thoroughly. 7.DON’T ATTEMPT LAST-MINUTE REPAIRS: Avoid attempting major repairs or improvements right before the inspection. Rushed repairs may raise questions about the quality of the work or lead to incomplete projects. Instead, focus on addressing minor issues and presenting your home in its usual condition. 8.PREPARE FOR THE BUYER’S WALKTHROUGH: After the inspection, the buyer may request a walkthrough to address any specific concerns. Be prepared for this, and if there are any issues identified, consider negotiating repairs or credits with the buyer’s agent.

9.STAY INFORMED: Keep in close communication with your real estate agent throughout the inspection process. They can provide guidance on how to handle any unexpected findings and help you navigate negotiations with the buyer. 10.POST-INSPECTION CLEAN-UP: After the inspection is complete, tidy up your home, and restore any items you moved or altered during the inspection. This helps maintain the overall presentation of your property. By following these tips, you can set the stage for a successful home inspection that instills confidence in potential buyers. Remember that a transparent and cooperative approach can go a long way in facilitating a smooth transaction. In the next section, we’ll provide you with a detailed room-by-room home inspection checklist to help you prepare comprehensively.

A ROOM-BY-ROOM HOME INSPECTION CHECKLIST

Preparing your home for inspection involves assessing various aspects of each room to ensure that it’s in optimal condition. Here’s a room-by-room home inspection checklist to guide you through the process: EXTERIOR: - Check the condition of the siding, roofing, and gutters. - Inspect windows and doors for proper sealing and any signs of damage. - Ensure that pathways, driveways, and walkways are in good repair LIVING ROOM: - Test light switches, outlets, and ceiling fans. - Look for any visible cracks or damage to walls and ceilings. - Ensure windows and doors open and close smoothly. KITCHEN

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- Check all appliances for proper functioning. - Inspect sinks, faucets, and drainage for leaks. - Ensure cabinets and drawers open and close properly. DINING ROOM: - Examine light fixtures and chandeliers for proper operation. - Test outlets and light switches. - Check for any flooring damage, such as scratches or stains. BEDROOMS: - Inspect closets for functionality and organization. - Test windows for smooth operation and proper sealing. - Ensure all doors open and close without issues. BATHROOMS: - Check for any signs of water leaks around sinks, toilets, and showers. - Test all plumbing fixtures for proper functionality. - Inspect tiles, grout, and caulking for signs of damage or mold. BASEMENT: - Examine the basement for any signs of moisture or water damage. - Inspect the foundation for cracks or structural issues. - Check the sump pump and any other basement systems. ATTIC: - Ensure proper insulation and ventilation. - Check for any signs of leaks or damage to the roof structure. - Inspect for pest infestations or signs of rodents. GARAGE: - Test the garage door opener and ensure it’s

functioning correctly. - Check for any visible cracks or damage to the garage floor. - Ensure that safety features, such as fire extinguishers, are present and operational OUTDOOR SPACES: - Inspect decks, patios, and porches for structural integrity. - Check the condition of fences and gates. - Examine the landscaping for proper maintenance. MECHANICAL SYSTEMS: - Have your HVAC system serviced before the inspection. - Test smoke detectors and carbon monoxide detectors. - Check the electrical panel for any signs of overheating or damage. ADDITIONAL SPACES (IF APPLICABLE): - If you have additional spaces, such as a home office, playroom, or guest house, inspect these areas similarly to the rooms listed above. Completing this room-by-room checklist will help you identify any potential issues that may arise during the home inspection. Addressing these issues proactively can contribute to a smoother inspection process and enhance the appeal of your home to potential buyers.

COMMON ISSUES FOUND DURING HOME INSPECTIONS During a home inspection, various issues may be uncovered that could affect the sale of your property. While some problems are minor and easily addressed, others may require more significant attention. Common issues found during home inspections include issues with the roof, electrical problems, plumbing leaks, HVAC system malfunctions, and structural concerns. It’s essential to be prepared for potential findings and OCTOBER 2023

to work with your real estate agent to determine the best course of action for addressing these issues and keeping the sale on track. Remember that addressing these issues promptly can instill confidence in potential buyers and lead to more successful negotiations. Your real estate agent can provide guidance on how to navigate these challenges and ensure that the inspection process proceeds as smoothly as possible.

WHAT TO DO AFTER THE INSPECTION: NEGOTIATIONS AND REPAIRS After the home inspection is complete, the next step is to consider the findings and determine how to proceed. Here are the key actions to take: 1.REVIEW THE INSPECTION REPORT: Carefully review the home inspection report with your real estate agent. The report will detail any issues discovered during the inspection 2.UNDERSTAND BUYER REQUESTS: Be prepared for the buyer to request repairs or concessions based on the inspection findings. Your agent will help you understand these requests and navigate negotiations. 3.NEGOTIATE REPAIRS OR CREDITS: Work with your real estate agent to negotiate repairs or financial credits with the buyer. Depending on the market and the severity of the issues, you may need to find a middle ground that satisfies both parties. 4.OBTAIN ESTIMATES: If you agree to make repairs, obtain estimates from reputable contractors. This will help you assess the cost and timeline for the necessary work. 5.COMPLETE AGREED-UPON REPAIRS: Once an agreement is reached, proceed with the repairs in a timely manner. Ensure that all work OCTOBER 2023

is completed professionally and to the buyer’s satisfaction. 6.RE-INSPECTION (IF REQUESTED): In some cases, the buyer may request a reinspection to verify that agreed-upon repairs were completed correctly. Be prepared to accommodate this if necessary. 7.CLOSING THE DEAL: Once all negotiated repairs and concessions are addressed, you can move forward with the closing process. The sale will typically proceed as planned. Navigating negotiations and repairs after the home inspection requires effective communication and cooperation between you, the buyer, and your real estate agents. Being responsive and willing to address issues can help ensure a successful transaction and a positive experience for all parties involved.

CONCLUSION Preparing your home for inspection is a critical step in the selling process, and it can significantly impact the outcome of the sale. By following the tips provided in this article and using the roomby-room inspection checklist, you can present your home in its best possible condition, instill confidence in potential buyers, and streamline the inspection process. Remember that transparency and cooperation are key during inspections and negotiations. By being proactive about addressing issues, working closely with your real estate agent, and maintaining a positive attitude, you can navigate the home inspection phase with confidence. Ultimately, a well-prepared home inspection sets the stage for a successful sale, allowing both you and the buyer to move forward with peace of mind and the excitement of a new chapter.

BROKER | OWNER | REALTOR

FRANCINE

MARSOLEK

MINNESOTA

TWIN CITIES REAL ESTATE SHOW NEW DEMAND NEW SHOWS SHOWS ON DEMAND EVERY 2ND WEEK AND 4TH EVERY FRIDAY

OCTOBER 2023

Live life in full color. Encourage and accept diversity in your neighborhood and community. It will promote a greater sense of engagement, better prepare your children for the global community they will inhabit…give us all a richer life. To better understand how neighborhood diversity will benefit you and your family, please log onto www.ARicherLife.org.

Celebrating the 40th Anniversary of the Fair Housing Act

OCTOBER 2023

“ WE DIDN’T EXPECT

HOUSING DISCRIMINATION

WOULD KEEP US FROM OUR NEW HOME.” “ As our family continued to grow, we started looking for a new home. The landlord told us he wasn’t comfortable renting to people with children because they might go to school or daycare and bring home COVID-19.” COVID-19 inequity is real, and it shouldn’t be made worse because of housing discrimination. If you suspect housing discrimination because of your familial status, file a complaint with HUD or your local fair housing center so we can investigate it.

Go to hud.gov/fairhousing or call 1-800-669-9777 Federal Relay Service 1-800-877-8339 FAIR HOUSING: THE LAW IS ON YOUR SIDE. A public service message from the U.S. Department of Housing and Urban Development in cooperation with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. OCTOBER 2023

D M O w s

CONNEC OCTOBER 2023

VIP AGENT

Reo Broker

DRE# 1312180 Mobile: (203) 982-4985 Office: (203) 387-0200 www.greaternewhavenhomes.com srivkin@planetrealtyct.com

CTICUT OCTOBER 2023

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STEVEN RIVKIN

A Guide On How To Sell Your House Fast By Steven Rivkin

elling your house can be a significant undertaking, and for many, the goal is to do it quickly and efficiently. Whether you’re relocating for a new job, downsizing, or simply ready for a change, a fast sale can save you time and reduce stress. In this comprehensive guide, we’ll walk you through the essential steps to sell your house quickly while maximizing its value. From setting the right price to enhancing your home’s curb appeal, decluttering, making

OCTOBER 2023

strategic upgrades, and employing effective marketing techniques, we’ll provide you with a roadmap to success. By following these tips and strategies, you can streamline the selling process and increase your chances of finding the right buyer sooner rather than later. So, let’s dive into the world of real estate and discover how to sell your house fast.

SET THE RIGHT PRICE Setting the right price for your home is crucial

when aiming for a quick sale. Overpricing can deter potential buyers, while underpricing may lead to financial losses. To determine the ideal price, research comparable properties in your area and consider consulting a real estate agent for their expertise. Pricing your home competitively can attract more buyers and generate faster interest. Additionally, consider offering incentives like covering closing costs or including appliances to sweeten the deal.

ENHANCE CURB APPEAL First impressions matter, and the exterior of your home is the first thing buyers see. Enhance your home’s curb appeal by tidying up the landscaping, mowing the lawn, and planting fresh flowers. Repair any visible exterior damage, such as peeling paint or loose shingles. A welcoming exterior can draw potential buyers in and make them eager to explore further.

DECLUTTER AND DEPERSONALIZE When potential buyers visit your home, they want to envision themselves living there. To facilitate this, declutter and depersonalize your living spaces. Remove personal photos, excessive decorations, and items that make rooms feel cramped. Organize closets and storage spaces to showcase ample storage potential. A clean, clutter-free home allows buyers to focus on the property’s features and can help your home sell faster.

INVEST IN SMALL UPGRADES While major renovations may not be necessary, consider making small, cost-effective upgrades to make your home more appealing. Repainting rooms in neutral colors can freshen up the space and appeal to a broader range of buyers. Replacing outdated fixtures, such as faucets and cabinet hardware, can give your home a modern touch. Address any minor repairs,

like leaky faucets or squeaky doors. These small investments can make a big difference in attracting buyers.

EFFECTIVE MARKETING AND STAGING Effective marketing is key to selling your home quickly. High-quality photos and compelling descriptions in your online listings can attract more potential buyers. Consider hiring a professional photographer to showcase your home in its best light. Staging your home can also help buyers envision themselves living there. Arrange furniture and decor to highlight the home’s strengths and create an inviting atmosphere. The combination of effective marketing and staging can generate more interest and lead to a faster sale.

CONCLUSION Selling your house quickly requires strategic planning and attention to detail. By following the steps outlined in this guide, you can increase your chances of a fast and successful sale. Setting the right price, enhancing curb appeal, decluttering, making small upgrades, and effectively marketing your property are all essential components of the selling process. Remember that selling your home is not just about the physical property; it’s also about creating an emotional connection with potential buyers. By presenting your home in its best possible light, both online and during showings, you can help buyers envision themselves living there. With the right approach, you can navigate the real estate market with confidence and sell your house quickly, allowing you to move forward with your plans and the next chapter of your life.

OCTOBER 2023

Keeping Our Home Is Our #1 Priority.

Dixon and Eunice Sanchez, Brentwood, NY

Last year we were facing foreclosure and we weren’t sure what to do, but we knew one thing – We wanted to keep our home, NOT LOSE IT. Then we found out about HUD-approved counselors. The expert advice we received helped us save our home. Contact a HUD-approved housing counselor for FREE advice. Get started today. Visit:

www.hud.gov/fairhousing or call 1-888-995-HOPE A public service message from the U.S. Department of Housing and Urban Development in partnership with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, family status or disability. For more information, visit www.hud.gov/fairhousing.

OCTOBER 2023

STEVEN

RIVKIN

CONNECTICUT

NEW HA VEN CONNECTICUT

NEW EPISODES ON DEMAND EVERY 2ND & 4TH FRIDAY

OCTOBER 2023

L O C

ARIZONA OCTOBER 2023

VIP AGENT

YVONNE MCFADDEN

Realtor | Delex Realty

License: SA035043000 Office License: LC64980001 Contact: (408) 628-2619

www.yvonnemcfaddenrealtor.com

A OCTOBER 2023

6 Financing Tips For FirstTime Home Buyers By Yvonne McFadden

mbarking on the journey of purchasing your first home is an exhilarating and significant life milestone. It’s a decision that involves careful planning, thoughtful consideration, and a clear understanding of your financial landscape. For first-time homebuyers, the world of financing can seem like a complex puzzle with numerous pieces to assemble. That’s where this guide comes in.

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In this comprehensive exploration, we will equip you with six invaluable financing tips tailored specifically to first-time home buyers. Whether you’re navigating the complexities of mortgages, working to bolster your down payment savings, or exploring loan options, these tips are designed to provide you with the guidance and knowledge necessary to navigate the path to homeownership with confidence. So, let’s embark on this financial journey together, ensuring that your first steps into homeownership are wellinformed and rewarding.

ASSESS YOUR FINANCIAL READINESS

these options to find the one that best suits your financial situation. Common choices include fixed-rate mortgages (with stable monthly payments) and adjustable-rate mortgages (with initial lower rates that may adjust later). Government-backed loans, such as FHA and VA loans, offer attractive terms for those who qualify. Working with a knowledgeable mortgage broker can help you navigate the loan selection process.

GET PRE-APPROVED Obtaining pre-approval for a mortgage is a crucial step before house hunting. Pre-approval not only gives you a clear picture of your budget but also

Before diving into the home-buying process, assess your financial readiness. Review your credit report, credit score, and overall financial health. A strong credit score can open doors to favorable mortgage terms and lower interest rates. Additionally, create a budget to determine how much you can comfortably afford for monthly mortgage payments, taking into account other expenses like utilities, insurance, and property taxes.

SAVE FOR A DOWN PAYMENT Saving for a down payment is one of the most significant financial hurdles for first-time homebuyers. While there are various loan programs that offer low down payment options, having a substantial down payment (usually 20% of the home’s purchase price) can help you secure a more competitive mortgage rate and reduce monthly payments. Consider setting up a dedicated savings account to help you reach your down payment goal faster.

EXPLORE LOAN OPTIONS

makes you a more attractive buyer to sellers. It demonstrates that you’re a serious buyer with the financial backing to make a purchase. Keep in mind that pre-approval doesn’t guarantee final approval, but it’s a valuable initial step in the process.

There are several mortgage loan options available to first-time homebuyers. Research

FACTOR IN CLOSING COSTS OCTOBER 2023

In addition to the down payment, first-time homebuyers should budget for closing costs. These costs include fees for appraisal, inspection, title insurance, and legal services. It’s essential to have a clear understanding of these expenses upfront to avoid any financial surprises during the closing process. Your lender can provide you with a Loan Estimate detailing theexpected closing costs.

BUILD A STRONG SUPPORT TEAM Finally, surround yourself with a team of professionals who can guide you through the home-buying and financing process. In addition to a knowledgeable real estate agent and mortgage broker, consider consulting a financial advisor or housing counselor. These experts can provide valuable insights and help you make informed decisions about your financial future. Navigating the world of financing as a firsttime homebuyer may seem daunting, but with careful preparation and the right guidance, you can confidently take the steps towards homeownership. Remember that being financially informed and well-prepared will not only make the process smoother but also increase your chances of finding the perfect home within your budget.

CONCLUSION Becoming a first-time homebuyer is a significant and rewarding endeavor, and these financing tips can help you embark on this journey with confidence. By assessing your financial readiness, saving diligently for a down payment, exploring various loan options, and obtaining preapproval, you’re setting yourself up for success. Additionally, understanding and budgeting for closing costs, as well as building a strong support team, will ensure a smoother path to homeownership. Remember that while the OCTOBER 2023

process may seem complex, you’re not alone— rely on the expertise of professionals and advisors to guide you. Ultimately, the key to successful financing as a first-time homebuyer is careful planning, thorough research, and staying informed throughout the process. With these tips in mind, you’ll be wellprepared to make one of the most important financial decisions of your life and find the perfect home that fits your budget and your dreams.

YVONNE

MCFADDEN

ARIZONA

yvonne mcfadden real estate show NEW EPISODES ON DEMAND EVERY 2ND & 4TH FRIDAY

OCTOBER 2023

m o C b

CALIFOR OCTOBER 2023

VIP AGENT

BRANDY NELSON

Broker | Owner

m: (760) 592-1571 o: (760) 660-6444 CalDRE#01471742 brandyn@windermere.com

RNIA OCTOBER 2023

By Brandy Nelson

mbarking on the journey of finding your dream home is an exciting endeavor, but it can also be a complex and overwhelming process. From sifting through listings to attending open houses and negotiating offers, the world of real estate can be a maze of decisions and choices. That’s

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where a buyer’s agent comes in—a seasoned professional dedicated to guiding you through the process and helping you find the perfect home. In this guide, we will explore the invaluable role of a buyer’s agent and how they can maximize your home search, making it a smooth and rewarding experience.

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Maximizing Your Home Search with a Buyer’s Agent

THE BUYER’S AGENT ADVANTAGE A buyer’s agent, also known as a buyer’s broker or representative, is a licensed real estate professional who works exclusively on behalf of homebuyers. Their primary mission is to protect and represent your interests throughout the home-buying journey. Unlike a seller’s agent, whose loyalty is to the seller, a buyer’s agent is your advocate, offering impartial advice and support.

EXPERTISE IN LOCAL REAL ESTATE One of the most significant advantages of working with a buyer’s agent is their in-depth knowledge of the local real estate market. They are well-versed in current market conditions, pricing trends, and neighborhood insights. This expertise allows them to provide you with a competitive advantage, ensuring you make informed decisions when searching for homes in your desired area.

CUSTOMIZED PROPERTY SEARCH Buyer’s agents save you time and effort by tailoring your property search to your specific needs and preferences. They take the time to understand your priorities, such as the number of bedrooms, desired amenities, and budget constraints. Armed with this information, they can curate a list of properties that align with your criteria, streamlining the search process and eliminating the frustration of sorting through irrelevant listings.

your interests every step of the way. Guidance Beyond the Search A buyer’s agent’s role extends beyond helping you find the right home. They can recommend trusted professionals such as home inspectors, mortgage lenders, and attorneys to ensure a seamless and successful transaction. Additionally, they can assist with due diligence, contract review, and navigating any potential hurdles that may arise during the process.

CONCLUSION In the quest to find your dream home, a buyer’s agent can be your most valuable ally. Their expertise, local knowledge, and dedication to your best interests are invaluable assets throughout your home search. By working with a buyer’s agent, you’re not only streamlining the process and saving time but also gaining access to a wealth of industry insights and negotiation skills that can help you secure the best possible deal. Remember, your homebuying journey should be an exciting and rewarding experience, and a buyer’s agent is there to ensure it stays that way. So, if you’re ready to embark on your quest for the perfect home, consider partnering with a buyer’s agent to maximize your home search and make your homeownership dreams a reality.

SKILLED NEGOTIATORS Negotiating the terms of a real estate transaction can be challenging, especially when emotions run high. Buyer’s agents are skilled negotiators who have experience in securing favorable terms on your behalf. They can handle price negotiations, contingencies, repairs, and other crucial aspects of the deal while safeguarding OCTOBER 2023

THE FLOOD TURNED OUR LIVES UPSIDE DOWN. WHEN WE TRIED TO RENT A NEW PLACE TO LIVE, WE KEPT GETTING TURNED DOWN. When the flood came, we had to run from our home. Fortunately, we found temporary shelter. But as we started looking for a place to live, we ran into housing discrimination, which isn’t just unfair – it’s illegal. If you feel that a landlord or broker has denied you the sale, rental or financing of a home based on your race, color, religion, sex, national origin, disability or because you have children, report it to HUD or your local fair housing center.

“ WE DIDN’T EXPECT

HOUSING DISCRIMINATION

COVER STORY

BRUCE MARKS A Journey of Empowering Dreams I

n a world where countless individuals tread the path of life, only a few truly harness the full potential of their existence. Bruce Marks, a name synonymous with unparalleled dedication and unwavering comv mitment, stands as a beacon of inspiration to those who dare to dream, those who dare to believe. With a resolute spirit and an unyielding pursuit of a noble cause, Bruce Marks has transformed countless lives and given them the key to unlock a quintessential element of the American Dream: homeownership.

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The pursuit of homeownership is not merely an acquisition of property; it is the cornerstone of stability, prosperity, and the aspiration that embodies the very essence of the American Dream. For Bruce Marks, this aspiration became a lifelong mission, a calling to empower millions with the prospect of owning a place to call home, building a foundation for their families, and securing their future.

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As the founder and CEO of the Neighborhood Assistance Corporation of America (NACA), Bruce Marks has dedicated his life to dismantling the barriers that once seemed insurmountable for those yearning for homeownership. His unwavering commitment to this cause has not only reshaped the housing industry but has also touched the hearts and futures of countless individuals and families across the United States. In this autobiography, we delve into the extraordinary journey of a man who has risen above the ordinary, a man whose vision and relentless pursuit of a dream has transformed the lives of many. This is the story of Bruce Marks, the visionary leader who has made the dream of homeownership a reality for countless Americans, and in doing so, has redefined the very essence of the American Dream itself.

EARLY LIFE AND EDUCATIONAL FOUNDATION Bruce was born into a world of humble beginnings. Raised in a modest family, his early life was shaped by the values of hard work, determination, and a deep-seated belief in the power of community. Bruce’s formative years were spent in a close-knit neighborhood, instilling in him a profound sense of the importance of fostering strong bonds within communities. Despite the economic challenges his family faced, Bruce’s parents emphasized the significance of education. This unwavering support for learning set the stage for his academic journey. Bruce proved to be an exceptionally bright student from a young age, displaying a hunger for knowledge that would eventually become a driving force in his life. Marks went on to pursue a Bachelor of Arts degree in Economics at The University of Connecticut, solidifying his foundation in a field that would later play a crucial role in his mission to empower individuals and families OCTOBER 2023

with the opportunity to achieve homeownership. His educational journey didn’t stop there. He continued to build upon his academic achievements, obtaining a Master’s degree in Business Administration (MBA) from New York University, which further enriched his understanding of economic systems, financial structures, and business strategies. Bruce’s academic pursuits were not solely driven by personal ambition; they were closely tied to his desire to create systemic change. Throughout his education, he began to see the disparities in access to housing and financial resources, igniting the fire within him to address these inequalities head-on. These early experiences and educational endeavors laid the groundwork for his future as a trailblazer in the realm of homeownership and community development. Bruce Marks was not just a student of economics; he was a student of life, learning how to be a compassionate leader who would go on to change countless lives.

A TRAILBLAZING CAREER: BRUCE MARKS’ PROFESSIONAL BACKGROUND Bruce Marks’ professional journey is a testament to the profound impact one individual can have when driven by a clear vision and an unwavering commitment to a noble cause. His career has been marked by transformative initiatives and pioneering strategies that have forever altered the landscape of homeownership and community development in the United States. Marks embarked on his professional career with a passion to address the systemic disparities he had observed throughout his academic journey. He recognized that homeownership was not only a dream but a fundamental pillar of economic stability and upward mobility for countless Americans. With this understanding, he set forth on a path of advocacy and activism that would leave an indelible mark.

approach to negotiations with major banks In the early years of his career, Bruce Marks brought about unprecedented results, including worked within the non-profit sector, dedicating himself to empowering underserved communities. favorable loan terms for low and moderateincome borrowers. His first steps were taken as he joined the Massachusetts Affordable Housing Alliance, where he gained valuable insights into the Beyond his work at NACA, Marks has challenges facing low and moderate-income been recognized as a leading figure in the families seeking homeownership. It was during housing industry and a tireless advocate for this period that Marks honed his expertise in economic justice. His contributions have been housing advocacy, forging connections and acknowledged through numerous awards and alliances that would prove instrumental in his accolades, but his true legacy lies in the millions future endeavors. of families who now have a place to call home because of his unwavering commitment to their dreams.

It was the creation of the Neighborhood Assistance Corporation of America (NACA), however, that truly showcased Bruce Marks’ In sum, Bruce Marks’ professional background visionary leadership. Established in 1988, NACA is a testament to the power of one person’s became a catalyst for change, a vehicle through dedication to creating lasting change. He has which he would drive his passion for affordable taken a complex and often inaccessible dream and accessible homeownership. Under his – homeownership – and made it a reality for guidance, NACA adopted a groundbreaking countless individuals and families, redefining approach, combining financial counseling, the American Dream itself. His career is a aggressive advocacy, and revolutionary lending living example of the impact one individual can practices. This innovative model not only have when driven by a noble cause and the addressed the financial hurdles that potential determination to make the world a better place for homeowners faced but also challenged the status all. quo of the mortgage industry. One of the hallmarks of Bruce Marks’ leadership at NACA was the implementation of the “NACA Save the Dream” tour. This nationwide initiative brought mortgage servicers and financial institutions face-to-face with homeowners facing foreclosure, offering them the opportunity to restructure their mortgages and keep their homes. The tour proved to be a game-changer in the fight against the foreclosure crisis, saving countless families from losing their homes during the housing market crash of the mid-2000s. Bruce Marks’ professional journey has been marked by relentless commitment and the courage to challenge conventional practices. He has been a vocal advocate for affordable homeownership and has used NACA as a platform to push for greater corporate and government responsibility in making housing accessible to all. His “take it to the bank”

NACA: TRANSFORMING LIVES AND SHAPING LEGISLATION

The Neighborhood Assistance Corporation of America (NACA) is far more than a non-profit organization; it is a transformative force that has reshaped the landscape of homeownership in the United States and wielded significant influence over housing-related legislation. NACA’s primary role is to empower underserved and low-to-moderate-income individuals and families to achieve affordable and accessible homeownership. What sets NACA apart from traditional housing organizations is its comprehensive approach. It combines financial counseling, aggressive advocacy, and innovative lending practices to create a holistic solution for potential homeowners.

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One of NACA’s most significant contributions has been its impact on legislation. Bruce Marks and his team at NACA have been tireless advocates for homeowners’ rights and affordable housing. Through aggressive campaigning, strategic negotiations, and public awareness initiatives, they have influenced legislators at both the state and federal levels. NACA’s “take it to the bank” approach to negotiations with major financial institutions and banks has led to groundbreaking results, such as favorable loan terms for low and moderateincome borrowers. This approach has not only held these institutions accountable but has also set a precedent for corporate responsibility in the housing industry. Perhaps the most noteworthy example of NACA’s influence on legislation is the Dodd-Frank Wall Street Reform and Consumer Protection Act. NACA’s advocacy played a pivotal role in shaping this comprehensive legislation, which aimed to prevent the predatory lending and reckless financial practices that contributed to the housing market crash in 2008. The Act brought about significant reforms, including the establishment of the Consumer Financial Protection Bureau (CFPB) and the implementation of strict regulations on mortgage lending. NACA’s impact on legislation has had a cascading effect, leading to the development of various programs and initiatives aimed at assisting homeowners in distress. It played a crucial role in pushing for initiatives such as the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP), which aimed to help struggling homeowners avoid foreclosure and refinance their mortgages at more affordable rates. The most remarkable testament to NACA’s mission is the millions of people who have achieved the dream of homeownership through the organization. NACA’s innovative lending practices, coupled with its commitment to financial counseling, have opened doors that OCTOBER 2023

many believed were permanently closed. Its no-down-payment, no-closing-cost, and belowmarket interest rate mortgage programs have made homeownership accessible to those who were previously excluded from the traditional housing market. For countless individuals and families, NACA has been the bridge between aspiration and realization. It has given hope to those who thought homeownership was an unattainable dream. Through financial education, advocacy, and innovative mortgage solutions, NACA has created a path for people to secure stable, affordable housing and build a brighter future for themselves and their communities. In summary, the Neighborhood Assistance Corporation of America (NACA) is an extraordinary force for positive change in the realm of homeownership. It has played a pivotal role in shaping housing-related legislation, ensuring greater corporate responsibility, and, most importantly, making the dream of homeownership a reality for millions of Americans. NACA’s impact extends far beyond individual homeowners; it embodies the ideals of fairness, inclusivity, and community that are central to the American Dream.

BRUCE’S PHILOSOPHY OF LIFE Bruce Marks’ philosophy of life is deeply rooted in the values of social justice, community empowerment, and economic fairness. Throughout his career and his work with the Neighborhood Assistance Corporation of America (NACA), several key principles and beliefs have guided his actions and decisions:

1.HOUSING AS A FUNDAMENTAL RIGHT:

Marks firmly believes that access to affordable and stable housing is a fundamental human right. He has dedicated his life to ensuring that every individual, regardless of their background or

economic status, should have the opportunity to achieve the dream of homeownership. 2.FINANCIAL EMPOWERMENT: Central to Marks’ philosophy is the idea that financial education and empowerment are essential for individuals to make informed and responsible financial decisions. NACA’s emphasis on financial counseling reflects this belief, as it equips individuals with the knowledge and tools needed to navigate the complex world of mortgages and homeownership.

3.COMMUNITY ENGAGEMENT:

Marks has consistently advocated for the power of collective action and community engagement. He believes that communities should come together to address their common challenges and advocate for their rights. NACA’s “Save the Dream” tour, for example, was a vivid demonstration of this philosophy, as it brought communities, mortgage servicers, and financial institutions together to find solutions and prevent foreclosures.

4.CORPORATE ACCOUNTABILITY:

A key aspect of Marks’ philosophy is the idea that corporations, particularly financial institutions, have a responsibility to serve the greater good of society. He has taken a proactive stance in holding banks and lenders accountable for their actions, pushing for fair lending practices and sustainable homeownership.

5.LEGISLATIVE ADVOCACY:

Marks’ philosophy includes the belief that change must be driven not only at the individual and community levels but also through legislative and policy reforms. His work in influencing legislation, such as the Dodd-Frank Wall Street Reform and Consumer Protection Act, underscores his commitment to shaping a fair and just financial system.

6.EMPOWERING THE DISEMPOWERED:

At the core of Bruce Marks’ philosophy is a commitment to empowering the disempowered. He sees his life’s work as a means to give a voice to those who have been marginalized and disenfranchised, particularly in the housing and financial sectors. In essence, Bruce Marks’ philosophy of life revolves around equity, justice, and community. He is driven by a profound sense of purpose to create a fairer and more inclusive society, where homeownership is not just a dream but a tangible reality for all who aspire to it. His life’s work has been a testament to the transformative power of these beliefs, as he continues to champion the cause of affordable homeownership and economic justice for millions of Americans.

FUTURE GOALS AND ASPIRATIONS Bruce Marks’ journey has been characterized by unwavering dedication to affordable homeownership and economic justice. While he has achieved remarkable success in his career, his commitment to his life’s mission remains resolute, and his vision for the future continues to drive his actions. Looking ahead, Bruce aspires to expand the reach and impact of the Neighborhood Assistance Corporation of America (NACA) even further. He envisions NACA as an enduring force that not only assists millions but reshapes the very fabric of the housing industry in the United States. His goal is to empower even more underserved communities, ensuring that no one is left behind in the pursuit of homeownership. Marks also aims to continue his advocacy for legislative reforms and corporate accountability. He believes that progress in these areas is essential to safeguarding the rights of homeowners and ensuring that financial institutions act responsibly and fairly. Additionally, Bruce remains passionate about financial education and empowerment. His OCTOBER 2023

vision is to see more people equipped with the knowledge and tools to make informed financial decisions, transcending the realm of homeownership to encompass broader economic literacy and empowerment. Ultimately, Bruce Marks’ future goals and aspirations are deeply intertwined with his lifelong philosophy of justice, equity, and community. He envisions a future where economic opportunities are accessible to all, where homeownership is not a privilege but a right, and where the NACA model continues to inspire change and transform lives. As he continues to work tirelessly towards these goals, he ensures that the legacy he leaves is one of empowerment, fairness, and lasting change.

CONCLUSION: THE LEGACY OF BRUCE MARKS In the annals of history, there emerge individuals whose life stories serve as a testament to the boundless capacity of one person’s dedication and vision to ignite profound change. Bruce Marks, a name synonymous with affordable homeownership and economic justice, is one such luminary. From his modest beginnings to the monumental impact he has had on countless lives, Bruce’s journey reflects the quintessential American Dream. He stands as a shining example of the power of unwavering commitment, fierce advocacy, and a profound belief in the fundamental rights of all citizens. The Neighborhood Assistance Corporation of America (NACA), a brainchild born of Bruce’s unyielding dedication, has rewritten the narrative of homeownership. Its holistic approach, combining financial counseling, advocacy, and innovative lending practices, has opened doors to homeownership for millions who once believed it was beyond their grasp.

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Beyond the realms of policy influence and corporate accountability, Bruce Marks’ work has redefined the American Dream itself. It is a dream where a secure home is not an aspiration but an attainable reality, where economic fairness is not a distant ideal but a lived experience. As we reflect on the life and work of Bruce Marks, we find inspiration in his enduring philosophy: that justice, equity, and community are not mere ideals, but the very bedrock upon which society should be built. His future goals and aspirations are not just personal; they are the collective aspirations of a fairer, more inclusive world. Bruce Marks’ legacy is etched in the stories of countless individuals and families who have found solace and security in their own homes, in the changes to legislation that protect homeowners, and in the shifts within the financial industry towards greater responsibility. His impact is not just seen; it is felt in the lives of those he has touched. As we conclude this narrative of a life well-lived, Bruce Marks stands as a beacon of hope, a living testament to the capacity of one individual to make a profound difference. His legacy reminds us that the American Dream, with its ideals of homeownership and economic empowerment, is not a distant aspiration, but a reality within our grasp, thanks to the unwavering dedication and boundless vision of remarkable individuals like Bruce Marks.

“주택 거래 차별 때문에 새 집을 찾을 수 없을 것이라고는 예상하지 못했습니다.” “ 우리 가족이 성장하면서 새 집을 찾기 시작했습니다. 집주인은 자녀가 있는 사람은 학교나 보육 시설에 가서 코로나19를 집에 옮겨 올 수 있기 때문에 임대해 주기가 싫다고 했습니다.” 코로나19 불평등은 현실이며, 주택 거래 차별로 인해 악화되어서는 안 됩니다. 가족 조건에 따른 주택 거래의 차별이 의심될 경우, 조사를 할 수 있도록 주택도시개발부 또는 여러분 지역의 공정주택거래센터에 민원을 제기하십시오.

hud.gov/fairhousing 또는 전화 1-800-669-9777 을 이용해 주십시오 연방 중계 서비스 1-800-877-8339 공정한 주택 거래: 법은 여러분의 편입니다. 미주택도시개발부와 전국공정주택연합이 함께 하는 공익 메시지입니다. 연방 공정주택법은 인종, 피부색, 종교, 국적, 성별, 가족 조건 또는 장애로 인한 차별을 금지하고 있습니다.

OCTOBER 2023

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CHINO H OCTOBER 2023

VIP AGENT

DaSHUNDA MORRIS

Realtor

DRE# 01807540 [714] 616-1816

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Essential Tips and Home Inspection Checklist for Sellers By DaShunda Morris

elling your home can be both an exciting and challenging endeavor. To ensure a smooth and profitable sale, it’s essential to invest time and effort in preparing your property for the market. One crucial aspect of

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this preparation is conducting a thorough home inspection and addressing any issues that may arise. In this guide, we’ll explore essential tips for selling your home and provide a comprehensive home inspection checklist to help you make your

property more appealing to potential buyers.

1. FIRST IMPRESSIONS MATTER: ENHANCE CURB APPEAL The saying “you never get a second chance to make a first impression” holds true in the real estate market. Boosting your home’s curb appeal can significantly influence potential buyers. Consider the following: ●LANDSCAPING: Ensure your lawn is well-maintained, trim bushes, and plant colorful flowers to create an inviting atmosphere. ●EXTERIOR MAINTENANCE: Repair any peeling paint, clean gutters, and ensure your front door and windows are in good condition. ●LIGHTING: Well-placed outdoor lighting can enhance your property’s evening appeal.

2. DECLUTTER AND DEPERSONALIZE Buyers need to envision themselves living in your home, so it’s essential to declutter and depersonalize your space: ●REMOVE PERSONAL ITEMS: Store away family photos and personal mementos to allow buyers to visualize their life in your home. ●DECLUTTER: Eliminate unnecessary items to create a more spacious and organized environment.

HOME STAGING: Create an Inviting Atmosphere

Home staging can significantly impact the selling process: ●FURNITURE ARRANGEMENT: Arrange your furniture to highlight the best features of each room. ●NEUTRAL COLOR PALETTE: Neutral colors on walls and decor can make your home more appealing to a broader range of buyers. ●GOOD LIGHTING: Ensure all rooms have adequate lighting.

4. MAKE NECESSARY REPAIRS A home inspection will reveal any issues that may deter buyers, so it’s best to address them beforehand: ●ROOF AND GUTTERS: Repair or replace damaged shingles and ensure gutters are clean and in good condition. ●PLUMBING AND ELECTRICAL: Fix any leaks, clogs, or electrical issues. ●APPLIANCES: Ensure that all appliances are in working order.

5. HOME INSPECTION CHECKLIST FOR SELLERS To avoid surprises during the buyer’s home inspection, conduct your inspection with the following in mind: ●ROOF: Check for missing or damaged shingles and ensure the flashing is intact. ●FOUN DATION: OCTOBER 2023

Look for cracks and signs of water damage in the basement or crawl space.

Inspect walls, ceilings, and floors for cracks or damage.

●PLUMBING: Inspect for leaks, drips, and ensure that toilets, sinks, and showers are functioning correctly.

●PEST CONTROL: Address any signs of pests or rodents.

●ELECTRICAL: Check for any faulty outlets, switches, or outdated wiring. ●HVAC SYSTEM: Change air filters, and have the system serviced if needed.

●SAFETY MEASURES: Ensure that smoke detectors and carbon monoxide detectors are functioning correctly. ●CLEANLINESS: A clean home is more appealing to potential buyers.

6. PRICE YOUR HOME COMPETITIVELY Work with a real estate agent to determine a competitive and realistic listing price. An overpriced home may sit on the market, while an underpriced home may not maximize your profit. By following these essential tips and completing the home inspection checklist, you’ll be better prepared to sell your home quickly and at the right price. Creating a welcoming, wellmaintained property is the key to attracting potential buyers and securing a successful sale. Remember, first impressions are vital, so invest the necessary time and resources to make your home as appealing as possible. Good luck with your home sale!

●WINDOWS AND DOORS: Make sure they open, close, and lock properly. ●APPLIANCES: Verify that all appliances included in the sale are in working order. ●STRUCTURAL ELEMENTS: OCTOBER 2023

WHEN YOUR LANDLORD SEXUALLY HARASSES YOU,

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THERE’S NO PLACE LIKE HOME During the COVID-19 crisis, many people are struggling to pay rent. Unfortunately, some unscrupulous landlords try to force tenants to provide sexual favors in exchange for canceling or reducing rent. Sexual harassment in housing situations is illegal under the Fair Housing Act. If your landlord asks for sex or a maintenance person refuses to fix something in your apartment because you won’t provide sexual favors, that’s illegal. File a complaint with HUD and put a stop to it.

Go to hud.gov/fairhousing/sexualharassment or call 1-800-669-9777 Federal Relay Service 1-800-877-8339 If you fear for your safety, call 911.

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MORRIS

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I’VE HEARD ABOUT

SEXUAL HARASSMENT

AT WORK... BUT I DIDN’T EXPECT IT

IN MY OWN APARTMENT. SO I FILED A COMPLAINT WITH HUD. If a landlord makes unwelcome sexual advances or if he threatens you with eviction or refuses to make repairs because you deny him sexual favors, he is violating the Fair Housing Act. Report sexual harassment and put a stop to it.

Fair Housing Is Your Right. Use It!

SCAN HERE FOR MORE INFO

Visit hud.gov/fairhousing or call the HUD Hotline 1-800-669-9777 (English/Español) 1-800-927-9275 (TTY) A public service message from the U.S. Department of Housing and Urban Development in partnership with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. For more information, visit www.hud.gov/fairhousing.

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VIP AGENT

RUBY L. FRAZIER

FULL SERVICE | PROPERTY MANAGEMENT INTERIOR DESIGN | RENTING RESEDENTIALS

LIC#01761773 O: [952] 686-5261 F: [714] 908-7298

www.fraziergrouprealty.com rubyfrazier@fraziergrouprealty.com

RNIA

OCTOBER 2023

Buying and Selling a House at the Same Time: Where to Begin By Ruby Frazier

uying and selling a house simultaneously can be a daunting yet manageable task when approached strategically. Whether you’re relocating, upgrading, or downsizing, the logistics of OCTOBER 2023

coordinating both transactions can seem overwhelming. However, with careful planning, a clear understanding of the process, and the right guidance, you can navigate this complex endeavor successfully. In this guide, we will

outline the essential steps and considerations to help you embark on the journey of buying and selling a house at the same time.

DETERMINE YOUR CONTINGENCY STRATEGY

ASSESS YOUR FINANCIAL SITUATION

Contingencies play a crucial role in these transactions. Consider whether you’ll make your purchase contingent on selling your current home or vice versa. Each option has its advantages and disadvantages. A contingent offer may make it easier to secure your dream home, but it could also make your offer less appealing to sellers. On the other hand, selling your home before buying can provide you with a clearer financial picture but may require temporary housing.

Before diving into the world of real estate transactions, it’s crucial to assess your financial readiness. Start by reviewing your current mortgage, outstanding debts, and overall financial health. Understanding your budget, equity in your current home, and your ability to secure a new mortgage is fundamental. Consult with a financial advisor to ensure that you’re making informed decisions that align with your financial goals.

DETERMINE YOUR TIMELINE Your timeline for buying and selling is a critical factor in this process. Are you in a rush to move, or can you afford to wait for the right buyer or property? Ideally, try to align the closing dates of both transactions as closely as possible to avoid temporary housing or bridging loans. However, flexibility is key in the real estate market, so be prepared for the unexpected.

WORK WITH EXPERIENCED PROFESSIONALS To successfully navigate the complexities of simultaneous buying and selling, assemble a team of experienced professionals. Hire a knowledgeable real estate agent who specializes in handling these types of transactions. They can provide insights, coordinate timelines, and offer strategies to help you achieve your goals. Additionally, consult with a mortgage broker or lender to understand your financing options and get pre-approved for a new mortgage.

BE PREPARED FOR NEGOTIATIONS In a competitive real estate market, negotiations are inevitable. When buying and selling simultaneously, you must be prepared for potential hurdles, such as inspection issues or appraisal discrepancies. Work closely with your real estate agent to navigate negotiations effectively and keep both transactions on track.

PLAN FOR THE TRANSITION Finally, plan for the transition from one home to another. If possible, coordinate your moveout and move-in dates to minimize disruptions. Consider the logistics of storing your belongings if there’s a gap between closing dates. Having a well-thought-out transition plan can make the process smoother and less stressful. Buying and selling a house at the same time is a complex endeavor, but it’s entirely achievable with careful planning, expert guidance, and a clear understanding of your financial situation. By following these steps and working closely with professionals, you can embark on this real estate journey with confidence, knowing that you’re taking the right steps toward your new home.

OCTOBER 2023

Underwater with Two Mortgages? Here are 5 Ways to Refinance By Briana Frazier

inding yourself underwater with two mortgages, where the combined debt on your primary residence and an additional property exceeds the current market value, can be a challenging financial predicament. However, it’s not an insurmountable problem, and there are solutions that can help you regain your financial footing. In this guide, we will explore five effective ways to refinance when you find yourself in this situation. Whether you’re OCTOBER 2023

looking to lower your interest rates, reduce your monthly payments, or consolidate your loans, these strategies can help you navigate the waters of dual mortgages and achieve a more stable financial future.

ASSESS YOUR FINANCIAL SITUATION

Before diving into refinancing options, it’s

essential to take a close look at your overall financial situation. Evaluate your credit score, outstanding debts, and income. Understanding your financial health will help you determine the most suitable refinancing solution and whether you qualify for certain programs.

EXPLORE HARP (HOME AFFORDABLE REFINANCE PROGRAM) If one of your mortgages is backed by Fannie Mae or Freddie Mac, you may be eligible for the Home Affordable Refinance Program (HARP). HARP allows borrowers with little to no equity to refinance at more favorable terms, even if they are underwater on their mortgages. It’s a government program designed to help homeowners in challenging situations.

CONSIDER A CASH-IN REFINANCE A cash-in refinance involves bringing a significant amount of cash to the closing table to pay down the principal balance on your mortgage. While this option may require substantial upfront funds, it can help you reduce the loan-to-value ratio on your property, making it easier to qualify for a new mortgage with better terms.

INVESTIGATE FHA STREAMLINE REFINANCING For homeowners with FHA loans, an FHA Streamline Refinance can be an excellent option. It allows you to refinance your underwater mortgage with minimal documentation and lower closing costs. FHA Streamline refinancing is designed to make the process smoother and more accessible for eligible borrowers.

CONSULT WITH A MORTGAGE PROFESSIONAL

Navigating the complexities of dual mortgage refinancing can be challenging, which is why it’s crucial to consult with a mortgage professional. A knowledgeable mortgage broker can assess your unique situation, explore various options, and help you select the most suitable refinance strategy tailored to your needs and goals. By following these five strategies and working closely with a mortgage expert, you can make informed decisions to refinance your underwater mortgages, reduce financial stress, and move toward a more stable and financially secure future.

CONCLUSION Navigating the challenges of having two underwater mortgages may seem overwhelming, but it’s essential to remember that there are viable solutions available to help you regain control of your financial situation. By carefully assessing your financial health, exploring programs like HARP, considering cash-in refinancing, or investigating FHA Streamline Refinancing, you can take meaningful steps toward achieving a more stable and manageable mortgage situation. However, it’s equally crucial to recognize that each individual’s financial circumstances are unique. Consulting with a trusted mortgage professional is the key to finding the right path forward. They can offer personalized guidance, assess your eligibility for specific programs, and help you make informed decisions that align with your financial goals. With determination, expert guidance, and the right refinancing strategy, you can navigate the challenges of dual underwater mortgages and set a course for a more secure and financially sound future. Remember that it’s never too late to explore your options and take control of your financial well-being. OCTOBER 2023

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When it comes to housing, little things shouldn’t make a difference. If you have children or are pregnant and a landlord refuses to rent to you, requires a higher security deposit, limits the use of facilities, or says you can only live in certain areas of a housing complex ... that could be discrimination. And housing discrimination because of familial status is against the law. If you believe you may be a victim of housing discrimination, contact HUD or your local Fair Housing Center:

Visit www.hud.gov/fairhousing or call the HUD Hotline 1-800-669-9777 (voice) 1-800-927-9275 (TTY)

Your Choice. Your Right. Your Home. A public service message from the U.S. Department of Housing and Urban Development in partnership with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. For more information, visit www.hud.gov/fairhousing. OCTOBER 2023

How can we tell him that the color of his skin is keeping his family from the home of its dreams?

Image by Bernie Kleina

SCAN HERE FOR MORE INFO

Housing discrimination isn’t just unfair – it’s against the law. If you feel that you’ve been denied the sale, rental or financing of a home because of race, color, national origin, religion, sex, familial status or disability, report it to HUD or your local fair housing center.

Fair Housing Is Your Right. Use It. Visit www.hud.gov/fairhousing or call the HUD Hotline 1-800-669-9777 (English/Español) 1-800-927-9275 (TTY)

OCTOBER 2023 A public service message from the U.S. Department of Housing and Urban Development in partnership with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. For more information, visit www.hud.gov/fairhousing.