Ask a realtor: The cost of not buying now

Maureen and Antoinette,My partner and I are thinking about buying a home, but with everything affecting the economy right now, we are wondering if it’s a smart decision to buy now or if it makes more sense to wait it out. Your thoughts?Bryan D.Hi Bryan,Happy New Year and thank you for the excellent question! This is a query we are hearing from several of our clients, and we are happy to share our opinions so that you can make the best researched and informed decision for you and your partner. While the desire for homeownership remains strong, some prospective buyers are waiting for the volatility in mortgage rates to subside, as well as for a clearer picture of the 2023 economic outlook. If you’re in that position, we recommend that you consider not just what’s happening today but also what benefits you may gain in the long run. There’s a lot of data circulating about how homeownership helps build a homeowner’s net worth over time. Sometimes people think about things like 401(k)s before they think of owning a home as a wealth-building tool. It’s critically important if you’re a young prospective homebuyer to understand how homeownership is another key way to invest in your future. To help you understand just how much owning a home can have a positive impact on your life over the years, review what the data shows. An article from Bloomberg helps illustrate the gap in wealth between renters and homeowners. The difference is substantial, even when incomes are similar. Their graph shows that the net worth of homeowners is 4-5 times greater than the net worth of renters for U.S. households age 65 and older. In addition, homes often appreciate in value, which can further increase a homeowner’s overall net worth and homeowners can take advantage of valuable tax write-offs that aren’t available to renters. If you want to begin to create wealth that will set you up for success later in life, it may be time to prioritize homeownership. That’s because, whether you rent or buy a home, you will have a monthly housing expense either way. The question is: are you going to invest in yourself and your future (pay down your mortgage and enjoy market appreciation), or will you help someone else (your landlord) increase their wealth? Instead of putting your homeownership plans on hold, we urge you to reach out to an experienced real estate advisor to go over your options. That way, you’ll have expert advice on how to make the best decision right now that will generate the most profitable investment in your future. We would be happy to talk with you and your partner about what’s possible for you.All the best to you in 2023!Maureen Tess-Fieberg and Antoinette Embry Compass Mission HillsDRE# 01217712 & DRE# 01305747 619-800-1103 MakeSanDiegoHome@gmail.comThe post Ask a realtor: The cost of not buying now appeared first on SDNews.com.

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Tips for Problem Solving in Your Business

Know the ProblemIt can be easy to misidentify the problem in the first place and this is one of the biggest mistakes business owners make commonly. Often this happens when you pinpoint the symptom but not the cause. An extreme example would be if you never gave your employees a day off. They would eventually get burned out, their work would suffer and many would quit. You might misidentify this as a lack of motivation among your staff instead of realizing that no one can work seven days per week indefinitely! To avoid this, try stating the problem as objectively as possible. An example might be “Employees are not as productive as they should be.” In this early stage, you avoid trying to diagnose the reason, which gives you access to the broadest base of solutions.Talk to StakeholdersIn the admittedly absurd example above of employees who work 365 days per year, you would avoid misdiagnosing the source of the problem by simply asking them what the issue was. Once they explained that they need to work regular five-day weeks like everyone else, you could quickly put this solution into place. Of course, understanding the issue is usually not this straightforward, but talking to the people closest to the problem and with the most immediate stakes in it can give you the insight you need to find a solution.A more realistic example might involve issues with a fleet’s efficiency and safety. You might wonder whether the problem is with the quality of the drivers or your processes, but if you speak to the fleet manager, they might suggest dash cams to help with monitoring, coaching, and tracking driver behavior. What’s important in this step is that you talk to everyone affected and get feedback about potential solutions. Find out what would be optimal for them. You may not be able to come to a solution that suits everyone, but this information will still be useful to you in the evaluation stage.Brainstorm and EvaluateWith the data you’ve gathered, it’s time to brainstorm ideas without judgement. Depending on the situation and the structure of your business, you might do this on your own or as part of a team. Once you have created a substantial list of potential ideas, start evaluating each one as objectively as you can. You might assign various criteria or make pro and con columns for each one. This can help you make the optimal choice.Plan for EvaluationA fatal flaw for those who make it this far is failing to identify a way to evaluate the plan at a later date. This can lead to a situation where you not only put into motion a solution that is ineffectual but you are still stuck with the original problem. An effective plan for evaluation needs to be as specific as possible. You need to identify a certain amount of money saved or a certain number of units shipped by a certain date. You also need a plan for what you’ll do if you fall short. This will include having to go back to the drawing board in terms of coming up with something new, but you’ll presumably have more data at this point to help you make your decision. Be sure that, in addition to going back to your original brainstormed list, you consider the possibility that you might have misidentified the true problem way back in step one.The post Tips for Problem Solving in Your Business appeared first on SDNews.com.

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Sen. Atkins: Diverse legislature will bring solutions despite budget woes

I am deeply humbled that my colleagues have again entrusted me with the responsibility and honor to lead as the President pro Tempore of the Senate. As I reflect on my combined 12 years in the Assembly and Senate, I’m struck by how much the California Legislature has changed and grown to truly reflect the 40 million people who call our state home. After the swearing in of members of both houses last month, the Legislature is the most diverse the state has ever seen – including historic numbers of women, Latinx and LGBTQ people. That diversity will be our strength as we go about the People’s business.Over the last few years, we have worked hard to find solutions to some of our state’s biggest problems: from wildfires to housing and health care. We have made great strides on getting real relief to families struggling to make rent, and keep up with rising costs at the gas pump and in the grocery store. As we begin a new two-year session, we still have our work cut out for us. Climate change is a daily threat, homelessness persists, and we face a challenging financial future. In years past, the recent report from the Legislative Analyst’s Office forecasting budget deficits would have kick-started talks of painful cuts and middle class tax increases – not anymore. We have prepared for this moment. Over the past decade, California’s leaders have turned our state’s fiscal condition around and made responsible budgeting our top priority. We built our reserves to record highs, paid down debts, and avoided committing one-time resources to ongoing purposes, while also making historic progress with new commitments that strengthen the middle class, assist struggling Californians, and fight climate change.Thanks to our responsible approach, we are confident that we can protect our progress and craft a state budget without ongoing cuts to schools and other core programs or taxing middle class families. We will be continuing our historic work on climate and wildfires, homelessness and affordable housing, and access to important services, such as health care and metal health – all issues of equity laid bare by the pandemic.As the new year begins, I feel a sense of increasing hope, optimism, and resolve. There are still great challenges ahead, from growing extremism, to climate, to housing, but I’m noticing more of a willingness among reasonable people and elected officials to come together when it matters.I remain grateful for the privilege of representing you, and I wish each of you a happy and prosperous 2023.The post Sen. Atkins: Diverse legislature will bring solutions despite budget woes appeared first on SDNews.com.

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