Overcoming Barriers To Homeownership

Overcoming Barriers To Homeownership

Overcoming Barriers to homeownership

By KW – Alden Zuck

While some of the barriers to homeownership are out of one’s control or can take years to overcome, there are three barriers homeowners can blast through right now to get closer to having the keys in their hands.

Buying a home is not like buying a car: people benefit from bringing in an experienced partner to help them

Make a Mindset Shift

Our mind believes what we feed it, so we ought to feed it well. Many people have limiting beliefs that they will never own a home – and they are wrong. By simply shifting their mindset from “I can’t” to “I can,” they will put the wheels in motion to overcome the other barriers. Start today with writing down the goal of owning a home. Hang it up and tell yourself every day that this dream will be a reality. Then, focus on what you need to do to make it happen. Best of all, you don’t have to do it all on your own!

Partner with a Real Estate Agent.

Buying a home is not like buying a car: people benefit when they bring in an experienced partner to help them. Here are just a few of the many reasons why partnering with a real estate agent will bring you one step closer to becoming a homeowner:

– They have industry experience dealing with everything from inspections to selecting a lending option, which can save you time and money.

– They can guide you with your negotiations and save you money and headaches during the transaction.

– It’s like having a personal assistant search for homes that meet your criteria and delivering you the best options in your price point. They even have access to homes not yet listed on the internet.

– You don’t have to pay a real estate agent any money unless and until you purchase your home.

– And, if you work with a Keller Williams agent, you benefit from their exclusive tools and training unmatched by any other real estate company in the world!

More Families Are Putting Their Trust In Keller Williams Agents

One word for that fear … investment! Owning a home is an investment.

Make Decisions Based on Hope, Not Fear

The third thing you can do today to bring you closer to owning a home tomorrow is letting go of any fears or negative views about homeownership. Experts agree that even almost 10 years after the mortgage crisis and national recession, many people still have a fear of owning a home. Others worry that owning a home restricts their ability to move until they sell their home. One word for that fear … investment! Owning a home is an investment. True that all investments come with some risks; however, they can be minimized. Also, just because you bought the home doesn’t mean that only you can live there. If you decide one day you want to move, you can sell your home or use it as a rental investment property. This is another reason partnering with a real estate agent is a good idea. They can help you sell or rent your home when you are ready.

Now that you have three things you can work on today, let’s take a look at six other barriers to homeownership and what you can do to overcome them:

1. Saving for a Down Payment. Even though it is possible to put down as little as 3 percent on a home purchase, would-be home buyers still claim that the main barrier to owning a home is not having a down payment. Set a goal, even if it is a small amount, and save for your dream. Cut overhead expenses where you can – it will add up, and before you know it, you will have a down payment.

2. Having Poor Credit. Like saving for the down payment, repairing credit takes time. But your past credit doesn’t have to define your future goals. The best part about poor credit is that you can fix it. Consider working with a credit counselor to guide you with the activities you can do to expedite increasing your credit score.

3. Limited Lending Options. Even once you have the down payment saved, you still need to be approved for the home mortgage. Lending restrictions may put a damper on what type of loan you may qualify for, which will ultimately limit which homes you can afford to purchase. Make a list of your “must-haves” and your “wants” so that you can determine your home price range. Then, work with a real estate agent to find homes in that range and start conversations with various lenders to qualify for a loan that at least covers a home with your must-haves. Your wants can come later!

your past credit doesn’t have to define your future goals. The best part about poor credit is that you can fix it.

 

4. Job Uncertainty. Many people fear buying a home because they don’t feel that they have job security, or their job is one that may require them to relocate on short notice. Statistically, however, a home mortgage is generally less than rent. Selecting a home in a reasonable price range that fits your current financial status or is even slightly below is a good first step to overcoming this barrier.

5. Student Loan Debt. Many people want to pay off all their debt, including student loan debt, before they save for or purchase a home. Additionally, some student loan repayments might be so high that they leave little money available to cover a mortgage payment. If you feel that your student loan debt is holding you back from owning a home, talk to lenders to find out their professional recommendations. You are not alone with this and there are answers available!

6. Inventory Shortages. As the housing market shifts, so does inventory. Currently, the market is hot and there are more buyers than homes to be bought. This is another reason why hiring a real estate agent to help with the process will be a huge benefit.

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Rawk’n Grub’s Brand New Burger for the Memphis Flyer

Rawk’n Grub’s Brand New Burger for the Memphis Flyer

Rawk’n grub’s

brand new burger for the memphis flyer

By Alden Zuck

Hoodz. Professional Clean. Every Time. Click to get an appointment!

Rawk’n Grub is a restaurant that serves some of the most uniquely named entrees in Memphis. All of these, including the name of his restaurant, come off of the love of music and the phrase “you rawk” that is always said by his significant other. Not only are the names unique, but so is the flavor!

Chef Steph just moved from his food truck to this new location located inside of the Citgo gas station. Now don’t let that fool you, it’s not the place that makes food good, it’s the chef; and he sure does make a name for himself when you first taste his food.

I called up Steph a week before we met up asking if we could feature his new place, and when I showed up to do the feature he had a mouthwatering surprise waiting in the kitchen. Now here is the #BeAmazing part; Chef Steph thought up this recipe of the Shisō High burger the night before the feature, not only that but what you see on camera is the first time the chef made this burger! The flavors complemented themselves so well and it was a combination that I truly have never tasted before. He combines Asian flavors along with his own twist using local ingredients, custom sauces, 6 hour long smoked blue cheese, vanilla vodka soaked pineapple, the shisō herb, and so much more. 

This burger will actually be going on The Memphis flyer coming out soon so don’t wait to go try one of the best burgers in town! Not only that but if you go before September 1st and mention JustMyMemphis you will get a “buy one entree get one free” deal! 

shisō high – the memphis flyer burger

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Otis Rush, 1934 – 2018

community powered what's your story? Sponsor Spotlight The Blues Foundation Our Mission is to preserve blues heritage, celebrate blues recording and performance, expand worldwide awareness of the blues, and ensure the future of the uniquely American art form. Through...

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  community powered what's your story?   Event spotlight Meat Me in Memphis Gala Meat Me in Memphis is our sole fundraising event for the Monogram Loves Kids Foundation. Our annual Meat Me in Memphis is held at one of Memphis’ iconic gala venues, The Columns at One...

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twisted time creations art that speaks memphis This article is brought to you by Krewe of DeJavu Check out their menu!Introducing myself, we can start with my name being Conner. It is my mom’s maiden name. I’m 42, and I was born and raised in Memphis. For the last 18...

Time to #BeAmazing

Share Your Story Today!

We believe there is an amazing story just waiting to be told inside everyone.  Stories that inspire change, ideas, and action.  Some stories are painful, some are fun, and others are life changing.  BeAmazing and share your story today on JustMy!
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C’MON CHAMBER GET REAL

C’MON CHAMBER GET REAL

C’MON Chamber Get ReAL

By Joe B. Kent

$70M IN MEMPHIS-SHELBY TAX REVENUE SHORTFALLS

Memphis/Shelby County has sacrificed the true economic growth engines of safe/paved streets, education and public transit for excessive tax abatements that do not serve the overall business community and the taxpayer. The cost to the community in excessive tax abatements is estimated to be $70M in annually recurring tax revenue. 

This $70M figure is derived from an article in The Commercial Appeal and another in Smart City Memphis that combines $22M in annual tax losses from retention PILOTs with $47M in tax shortfalls from slow total wage growth versus Memphis/Shelby County peers’ average total wage growth rate. 

Greater Memphis Chamber Blog on PILOTs 

Last week the Greater Memphis Chamber released a blog that discussed the economic development tool of payment-in-lieu of taxes (PILOT) administered by the local Economic Development Growth Engine (EDGE). The Chamber opens the article by admitting that PILOTs are controversial and then touts the benefit of PILOTs to taxpayers. The problem is the Chamber blog only tells part of the story.  

The blog explains that a lowered tax burden in the abatement of property taxes encourages economic growth resulting in higher local tax revenue through capital investment. The article further discusses the TAG Truck Center project that increases property taxes from less than $77,000 to $200,000 for the PILOT term. What the blog does not tell you is that $200,000 per year in tax revenue or $2,200,000 over the 11 year PILOT term cost Memphis/Shelby County taxpayers $6,278,000 per EDGE project summary !!!

Analysis – C’mon Man…..

In this case, Memphis/Shelby County was competing against West Memphis, AR. C’mon Man, what are the chances that TAG prefers West Memphis over Memphis ? So why would economic developers overpay? Because they do not know that economic development is a community process to improve the well-being of its people. Instead, economic developers in Memphis appear to believe that economic development is predominantly tax incentives for corporations.  As a result, Memphis is losing population and declining as an ecosystem versus their peer municipalities. 

 

In closely reviewing the  EDGE project summary, the retention PILOT does not account for: 1) some probability that TAG will remain in Shelby County without a retention PILOT for retaining existing jobs of $4.3M but with a PILOT for new jobs of $1.9M, 2) local impact of remaining workforce upon TAG departure or 3) Forgone economic impact of investing $4.3M into the community. When fully accounting for the TAG PILOT and referencing the EDGE project summary, the following calculation results that assumes a $1.9M tax abatement for new job creation: 

TAG projected revenue ($11.5M) – Retained revenue 60% probability ($7M) – Remaining local economic impact of remaining workforce upon TAG departure (RW $1.3M) – Forgone economic impact of investing in the community (LI $6.5M) = $3.3M revenue loss less $4.3M retention tax abatement results in a $7.6 loss or $633k per year Memphis/Shelby County taxpayer loss. 

Conclusion – C’mon Man Get Real !

The Chamber blog does not disclose the bogus incomplete accounting of EDGE which is a design for community decline. If the Chamber can’t get real, Memphis/Shelby County can’t get economic development right. C’mon Man!

Follow Joe B Kent Online!

 

 

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Otis Rush, 1934 – 2018

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twisted time creations art that speaks memphis This article is brought to you by Krewe of DeJavu Check out their menu!Introducing myself, we can start with my name being Conner. It is my mom’s maiden name. I’m 42, and I was born and raised in Memphis. For the last 18...

Time to #BeAmazing

Share Your Story Today!

We believe there is an amazing story just waiting to be told inside everyone.  Stories that inspire change, ideas, and action.  Some stories are painful, some are fun, and others are life changing.  BeAmazing and share your story today on JustMy!

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FASHION WEEK at the No More Silence Foundation

FASHION WEEK at the No More Silence Foundation

FASHION WEEK

at the no more silence foundation

By LaTrossica Wilson

This article is being brought to you by The Memphis Urban League, Follow Us in the Countdown to 75!

There are so many different programs and organizations for children that offer great ways to impact lives. However the No More Silence Foundation Center opened in May 2018 right here in the city of Memphis, offering unique ways through the arts to engage children and their families an opportunity that will impact their lives forever. The No More Silence Foundation is a non-profit organization pending as an exempt organization describe in section 501 (C)(3) of the Internal Revenue Code.

Our program also includes an A.R.T.S Summer Camp that is taking place this summer for children ages 4-14. A.R.T.S. stands for A REASON TO SURVIVE. Often time children feel as though they have no reason to live after being faced with adversity. Mrs. Wilson and her team is changing that mentality.

Each week of the A.R.T.S Summer Camp, we offer different themes to help with exposing and educating the campers. The week of June 11-June 15 was Fashion week. On Wednesday, June 13th, we celebrated National Sewing Machine Day and our National Fashion Day.

We invited Memphis’s own Jenni Graham. Ms. Graham is a fashion model, designer, fashion stylist, model coach, creative director, and the CEO of J.Chic Life Style Boutique.

Our goal for that day was to focus on the principals of art elements with designs and fashion. We had our campers to explore through creative areas of fashion using sewing machines, jewelry designs, fabric, patterns, styles, and a fashion show to model their designs down a yellow brick road made of posterboard.

The campers and staff had a ball!

Learn more about our program at our website to find out what’s this week at the No More Silence Foundation.

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Otis Rush, 1934 – 2018

community powered what's your story? Sponsor Spotlight The Blues Foundation Our Mission is to preserve blues heritage, celebrate blues recording and performance, expand worldwide awareness of the blues, and ensure the future of the uniquely American art form. Through...

Who’s That Girl: Meet Rebekah Hedges

  community powered what's your story?   Event spotlight Meat Me in Memphis Gala Meat Me in Memphis is our sole fundraising event for the Monogram Loves Kids Foundation. Our annual Meat Me in Memphis is held at one of Memphis’ iconic gala venues, The Columns at One...

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Twisted Time Creations

twisted time creations art that speaks memphis This article is brought to you by Krewe of DeJavu Check out their menu!Introducing myself, we can start with my name being Conner. It is my mom’s maiden name. I’m 42, and I was born and raised in Memphis. For the last 18...

Time to #BeAmazing

Share Your Story Today!

We believe there is an amazing story just waiting to be told inside everyone.  Stories that inspire change, ideas, and action.  Some stories are painful, some are fun, and others are life changing.  BeAmazing and share your story today on JustMy!

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On Location with Justin Hamlett

On Location with Justin Hamlett

on location with

justin hamlett

by Duy Nguyen

MSM brings life insurance to multi-cultural middle-class America. Setup an appointment today!

I got to follow along a complete renovation project with the good folks at HomeTown Home Services. I had only seen the innards of the house in pictures before but there I was witnessing the rebirth of a home. Let’s dive into why they were tearing apart this house.

 

The property was purchased by a family with the intent of fixing it up and putting it on the market. One step inside and you could see this building had been neglected for sometime. I knew that this was not a simple paint over it type of renovation. It needed everything, literally.

 

hometown gets down to business

Everything needed to be rebuilt from the ground up

There were no walls left inside of the house once the crew finished the demolition part of the project. Removing all of the remanence of the flooring, roof, wiring, basically all of it. You could see the backyard through the studs from the living room and there were no windows in sight.

 

Click to Like HomeTown Home Services on Facebook

Just Getting Started

There’s a lot that goes into which materials to use and the manufacturer specifications of each one the team at HomeTown knew exactly what they were doing. In a short amount of time the dusty and broken down space had started to take shape. I have always admired watching projects transform and develop it was just interesting to see it taking shape after a couple of visits. This fence wasn’t there and that wiring had to go here, only a well orchestrated team could have put this together in such a fashion.

 

Shaping Up

A Final Product

I was amazed to see the transformation and you have got to see the full coverage of the project on HomeTown’s website to get a good look at the craftsmanship that went into this home. I was pleased with the results, the homeowners were pleased with the work, and HomeTown  well . . .  this was just another day on the job for them as their quality is always a priority. Props to them! Check out their sweet reveal video.

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justmy features

Otis Rush, 1934 – 2018

community powered what's your story? Sponsor Spotlight The Blues Foundation Our Mission is to preserve blues heritage, celebrate blues recording and performance, expand worldwide awareness of the blues, and ensure the future of the uniquely American art form. Through...

Who’s That Girl: Meet Rebekah Hedges

  community powered what's your story?   Event spotlight Meat Me in Memphis Gala Meat Me in Memphis is our sole fundraising event for the Monogram Loves Kids Foundation. Our annual Meat Me in Memphis is held at one of Memphis’ iconic gala venues, The Columns at One...

Edge Task Force: Getting Real

  County Edge Task Force: getting real By Joe Kent This article is being brought to you by HomeTown Home Services, Is it time for a Home Improvement? The County EDGE Task Force continued their local reform work with a productive open discussion of challenging and...

Twisted Time Creations

twisted time creations art that speaks memphis This article is brought to you by Krewe of DeJavu Check out their menu!Introducing myself, we can start with my name being Conner. It is my mom’s maiden name. I’m 42, and I was born and raised in Memphis. For the last 18...

Time to #BeAmazing

Share Your Story Today!

We believe there is an amazing story just waiting to be told inside everyone.  Stories that inspire change, ideas, and action.  Some stories are painful, some are fun, and others are life changing.  BeAmazing and share your story today on JustMy!
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Community Baby Shower – JUICE Orange Mound

Community Baby Shower – JUICE Orange Mound

Community baby shower

juice orange mound

By Britney Thornton

This article is being brought to you by Fresh Start Facility Services Click to learn more!

You are young, pregnant, and live in Orange Mound.  

The life growing inside of you eats what you eat, goes where you go, and lives the way you live.  You wonder how your baby will be affected by the income per capita being less than $17,347?  How will you beat the 64% chance that your child will not make over $29,900 as an adult?  How living in a food desert will pose a challenge for the life of your beloved bundle of joy?

“I will do the best I can,” you say.  Despite the generational poverty, I shall overcome.  Beyond the food access crisis, I shall endure.  Withstanding transportation challenges, I will find a way. 

Truth be told, your due date feels more like dooms day.  How you are to protect and provide for the life in side of you is beyond you.  You mean well but deep inside you question if your best will be good enough.  You need help but do not know where to begin.

Somewhere in the community, a non-profit leader desires to host a community baby shower.  She reaches out to friend Carey Moore at The House, a women’s resource center located at Semmes and Carnes—she loves the idea and would love to serve as the venue for the event.

She reaches out to other personal contacts and starts to mobilize a team of service providers for pregnant mothers.  She learns about a midwife/nurse practitioner Nikia Grayson on Facebook and reaches out—she would love to participate!  

She even learns that there is already an annual baby shower hosted by the Orange Mound Civic Club and reaches out with the organizers to collaborate.  Fortunately, they are looking to expand the event and love the idea of hosting the community baby shower in August.  Things are shaping up nicely. 

But, you have not met the non-profit leader.  You have no idea that the help you desire is planning for the future of you and your baby.  You have no idea that your community is ready to wrap around you to ensure your success as a mother raising a child in Orange Mound.

You are cordially invited to attend the Community Baby Shower hosted by JUICE Orange Mound this August 2018.  A partnership with a host of community-based organizations including BSTARS, Project Fresh, the Urban Garden and Wellness Center, and The House, this event is for all pregnant and new mothers in the Orange Mound area.  Each mother will be connected to a mentor mother as well as service providers who are prepared to assist in making this transition into motherhood smooth.

Please help us reach the future mothers of The Mound by calling 901-300-6621, emailing jommemphis@gmail.com, or leaving a message in the JUICE Orange Mound inbox on Facebook.  We need YOUR help to ensure the success of this event, thank you!

#Why not start fresh today?

Our management team includes an amazing group of leaders with experience and dedication, trained to get you a maximum ROI while raising the bar in Quality Control.

 

Call for a free quote: 901.725.7372

justmy features

Otis Rush, 1934 – 2018

community powered what's your story? Sponsor Spotlight The Blues Foundation Our Mission is to preserve blues heritage, celebrate blues recording and performance, expand worldwide awareness of the blues, and ensure the future of the uniquely American art form. Through...

Who’s That Girl: Meet Rebekah Hedges

  community powered what's your story?   Event spotlight Meat Me in Memphis Gala Meat Me in Memphis is our sole fundraising event for the Monogram Loves Kids Foundation. Our annual Meat Me in Memphis is held at one of Memphis’ iconic gala venues, The Columns at One...

Edge Task Force: Getting Real

  County Edge Task Force: getting real By Joe Kent This article is being brought to you by HomeTown Home Services, Is it time for a Home Improvement? The County EDGE Task Force continued their local reform work with a productive open discussion of challenging and...

Twisted Time Creations

twisted time creations art that speaks memphis This article is brought to you by Krewe of DeJavu Check out their menu!Introducing myself, we can start with my name being Conner. It is my mom’s maiden name. I’m 42, and I was born and raised in Memphis. For the last 18...

its time to share your story

publish your #beamazing story

We believe there is an amazing story just waiting to be told inside everyone.  Stories that inspire change, ideas, and action.  Some stories are painful, some are fun, and others are life changing.  BeAmazing and share your story today on JustMy!

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