What does SVB mean for TX Real Estate? Well, the talk is that the Fed will halt it’s interest rate hikes until at least June. So, perhaps your buyers and investors have a short window to get in the market.
This weekend Silicon Valley Bank (SVB) folded. The federal government transferred all assets under SVB to a bridge bank.
The 2023 interest rate hikes negatively impacted the value of SVB’s treasury bonds. This combined with the trends in the tech industry caused Moody to downgrade SVB. So, SVB attempted to raise money. And then SVB’s depositors made a run on the bank. SVB did not have enough liquid assets to cover the withdrawals so the Federal Government stepped in.
Some analyst continue to say that this is unique to SVB. They believe, or at least report, that no other banks are at risk. Well, the Federal Government doesn’t believe them. So, the federal government took over NY Signature Bank.
What does this mean for TX Real Estate? Well, the talk is that the Fed will halt it’s interest rate hikes until at least June. So, perhaps your buyers and investors have a short window to get in the market.
Mortgage rates are currently around 7%. What does this mean for you the investor who is looking to buy and hold?
It means that capital is going to cost you more money. And sellers, particular those who are represented by realtors, are not concerned with your capital costs. So how do you navigate this market?
The listing prices are based on past numbers, more specifically comparable properties that have sold. Defining the listing price of a home is a reactive process for realtors and non-investor sellers. Realtors base the price on past comps. Then sellers may be willing to adjust based on days on market.
As an investor, you make decisions based on current scenario and the anticipated impact on the market in the future. So one way to entice the seller and realtor is to offer the list price if they let you control the terms. This works well when both the seller and realtor are motivated. Terms include repayment period, interest rate, and fees. How do you control the terms?
You can control the terms in creative financing solutions such as seller financing, subject to, private lenders, etc. Controlling the terms is easier when the seller is willing to finance the property.
Pray your week is going well. This week the plan was to introduce you to Dr. Constance Lacy. She was recently featured in Dallas Doing Good. However, today is the second day of early voting for the 2020 elections and I am a tad overwhelmed with the possibilities.
It is a presidential election year which historically brings out more voters and more politics. In this particular year, our current president or as I refer to him #45 is igniting an even more passionate response. This response is both from his supporters and his opponents. The entire landscape is both scary and interesting.
Its scary because of everything that is being stirred up. I pride myself in doing life with multi-generational, multi-racial, multi-economic levels of people and communities. Before this season, we all co-existed peacefully and enjoyed each other. I’d say that some of us thought we had deep relationships. However, we are now discovering that are priorities are further apart then we thought. Different priorities are not really the problem. The problem is when your priority is a direct threat to my well-being.
Here is an example. A person I considered a good friend values religious freedom over my safety. I’ve known him for more than 15 years. My husband has known him for more than two decades. Until this season, I believed that if we called on him that he would come defend us or help us by any means necessary. Now I realize that he says he will come. However, the reality is he will come as long as his defense of us doesn’t threaten his religious freedom. This same logic is why slavery was allowed by the Declaration of Independence and US Constitution.
For the sake of clarity, let me explain my conclusions. In a private conversation, I explained to our friend the precariousness of doing normal tasks for Jamal and I. In this discussion, I gave a personal example of how a woman called the cops on Jamal for nothing. Our friend stated that he understood that this was our reality. He empathized with the anxiety. However, he also stated that this reality COULD NOT be considered when he chose which politicians to vote for. I was speechless.
For voting purpose, he chose to ignore our anxiety, our safety, or our future. It was then that I understood then that my life was not a high enough priority. So it’s not that all people who vote for #45 don’t understand the environment that he has helped facilitate.
It is not that they don’t understand the racial tension and unrest in this country. It is that something else is more important. Something else could be religious freedom, abortion, economics, or whatever. The reality is that voters in this season are either like a pig who risk losing their life for breakfast and others are like a chicken who risks losing an egg. Just to be clear for this election season lives are at stake for the black community.
My promise to you
I’m going to get off my soap box now. I’m determined to be a bridge and connector during the 2020 elections. It’s hard to not block people and reduce my circle. I’m still not sure what to do about our friend. Hey, if you have any ideas on this one, I’d love to hear it. As always, if you know that you need some additional support, call me. Okay? Or text me 682-237-9891
Pray your week is going well. I don’t want you to get the wrong idea about our tribe. Yes, I wrote our because I do believe you are a missing tribe member. It is a diverse group. Admittedly, it’s primarily women. However, it is multi-generational, multi-racial, varied socio-economic levels. This week I want to share about one of my Pastors, Pastor Jami McCain
Pastor Jami McCain
Most people refer to her as Ms. Jami. To me she is Pastor Jami. “Ms.” just doesn’t capture who she is and all she does. I joined Church on the Hill in 2015. This is only the second time I’ve sat under a woman Pastor. In my culture and community, women are referred to as “First Lady”. And that title pretty much defines the role and expectations.
Like our other tribe members (Tina and Shawnda), Pastor Jami uses all of her gifts and talents to fulfill her mission. She is currently the owner and founder of Majestic Maine Coons, a cattery in Cedar Hill, TX, as well as the Executive Pastor at Church on the Hill. She has enjoyed a host of other adventures including being a City Council Member, horse trainer, concrete artist, etc. Hopefully, it’s doesn’t surprise you that she has varied interests and pursues all of them.
At the beginning of 2020, we went out for coffee. At that time, I was considering becoming a political data analyst for a national Democratic campaign. She had just completed her campaign as a Republican candidate for the Mayor of Cedar Hill. Although she did not win, she was still busy serving the city she loved and supporting the candidates who won if she could. Over coffee, she shared her tactics, her expertise, and her network.
Pastor Jami along with her husband Pastor Adam is growing a multi-generational, multi-racial, multi-??? church that is completely outside of the box. We build disciples. Church on the Hill will equip you for your ministry. We will connect you to organizations and people. However, we do not build the ministry for you. Basically, if you are looking for a Ministry to the Homeless, Ministry to the Prisons, Ministry to the Hungry, then we will help you build your ministry. That is our call and purpose.
How I support
According to the VOPS Assessment, I am a Visionary and a Processor. Visionaries are out of the box creatives. They have an abundance of ideas and solutions. Processors create the systems and policies to implement the vision. I’ve been told it is a rare combination. I believe it is why our tribe is comprised of individuals with varied passions, talents, and purposes.
This time I’ll share a recent example. When the COVID-19 quarantine was instituted in March 2020, we were planning for our 5th annual Miracle Weekend which included a city-wide Easter Egg hunt. We expected over 5000 families. In our new reality, we had to figure out how to we could help households to be able to do Easter Egg hunts at their homes.
Monday – Pastors approved format to 1) Create 3000 Easter Egg Hunt kits from 60,000 candy-filled plastic eggs and 2) COTH Members distribute kits to 300 families
Tuesday – I set up 6 stations that adhered to COVID-19 ordinances. Two volunteers helped me test the process. 350 Easter Egg Hunt kits completed
Wednesday – 11 volunteers refined the process. At the end of the day, 1100 Easter Egg Hunt kits completed.
Thursday – 5 volunteers refined, recruited, and setup. By the end of the day 1475 kits completed
Friday – 12 volunteers. By the end of the day, 3000 Easter Egg Hunt kits created.
The following week COTH members picked up the kits via contact less pickup and distributed to their neighbors and family members.
My promise to you
First, just like with Pastor Jami I am here to put hands and feet to your ideas. You are a tribe member. And second, if you know that you need some additional support, call me. Okay? Or text me 682-237-9891
Pray your week is going well. I checked out your Instagram and Facebook posts. Seems like those teenagers and their online courses are turning your hair gray. Let me know if I can help. In a former life, I taught developmental courses at a community college and tutored as well.
Dr. Shawnda Floyd
It wasn’t my desire to teach developmental classes but it worked out. At the time, I was supporting one of my tribe members Dr. Shawnda Floyd Today she is the Provost of Dallas College. Then she was the Executive Dean of Liberal Arts at North Lake College. I was her Associate Dean from 2014 -2017.
One of our responsibilities was to schedule courses each semester. When there were unexpected enrollment spikes, we would hire from our adjunct pool. During a couple of semesters, the adjunct pool was dry. Hence, I ended up teaching 2-3 classes. Don’t get me wrong the pay was nice. Because of the pay we quickly eliminated a good portion of debt. However, it was not the plan.
Similar to Tina Brown, Shawnda used all of her gifts to serve and accomplish her goals. Half the time I didn’t know if she was coming or going. She took action and prisoners. She was the first external hire to an executive leadership position at NLC in about 20 years. Within 2 years, she was promoted to Vice-President of Academic Affairs at NLC.
The four other Executive Deans had decades of experience and relationships at NLC. Yet, Shawnda was promoted to Vice-President of Academic Affairs. Shawnda was straight out of Jersey. Not even born in Texas. Yet, there she was. Thanks in no small part to my support.
How I support
I applied for the Executive Dean position but didn’t get it. Truthfully, didn’t even make it to the second round. Initially, I couldn’t understand why. After reflecting, I realized the interview committee couldn’t tell where my skills ended and Shawnda’s began.
During the interview, I shared who I was and my why. I did not highlight my knowledge and skills. I couldn’t figure out how to tout my skills and shine a light on her skills too. Truth is we complemented each other. There were some aspects of her job that she leaned on me heavily. Others not so much.
In the end, its a good thing I didn’t get the position. Because standing on my own as Executive Dean would have required a shift in our relationship. Although a shift was necessary, that one would have been less than ideal.
My promise to you
Two things before I end the letter. First, just like with Shawnda I am here to protect and look out for you. You are a tribe member. And second, if you know that you need some additional support, call me. Okay? Or text me 682-237-9891