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It is my pleasure to welcome you to the first edition of YPN Connect. I think it is fitting that this fall we go back to our initial purpose to connect, empower and retain the young workforce of Howard County.
We have come a long way in four years. In our infancy we were nothing more than 10 people who met four times a year. Now we are 200 strong and a major part of the Howard County Chamber of Commerce. We have held educational symposiums, hosted internationally known speakers, raised money for local/national charities, and held outstanding networking events. Amidst all of this, we as YPN Members have continued to recognize the advantages of doing business in Howard County despite the economic challenges we face. It is because of these challenges that we are actively looking for anyone who would like to be involved in our committees. For more information, read below to see what opportunities are available. To those of you who have helped us get to where we are I say 'Thank You,' and for those of you who have yet to get involved 'Try it, you'll love it!' It is an extremely exciting time for us and in today's tough economy there is no better way to connect than to be a part of YPN. I look forward to seeing all of you all at our many events over the coming months!
Sincerely
 Jeremiah P. O'Donovan
Chair YPN of Howard County |
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Want to Buy a House? 
By :David Yungmann
David Yungmann Realty Group
The combination of low prices and low interest rates has driven the "affordability" of homes to their highest level in history.
Home prices continue to trend downward in all areas. Most experts believe prices will start to bottom out in the most desirable neighborhoods by early 2010. These are the communities with the premier schools, amenities (such as shopping, a pool, walking paths or golf) and a minimum of foreclosure activity. However, neighborhoods with less desirable schools, without any amenities to differentiate it from others, or with a larger volume of foreclosures and short sales will be slower to rebound. Price range will also have an impact, with high-priced communities being slower to rebound than more moderately prices areas.
Interest rates have become erratic and, while still low, are no longer maintaining a consistent downward trend. In late May, mortgage rates rose sharply by more than one percent. They have declined somewhat since then but remain higher than levels in both mid-May levels and the beginning of 2009. Experts are mixed on rate forecasts due to the conflict of a lagging economy and inflation fears, but most believe there is more upward risk than downward opportunity.
Sales volume is way up and the inventory of homes for sale has come down, both of which are first steps in price stabilization. Some of the best homes in the most desired neighborhoods are attracting multiple offers and selling at listing price. Even homes in short sale/foreclosure situations that are priced correctly are selling fast to opportunistic buyers who believe affordability is the best it will be.
The mortgage environment has become a bit more stable and predictable in 2009, making the financing process easier to navigate. The best loans are reserved for buyers who have a 20% down payment, but FHA loans that require only a 3½% down payment are also available to solid buyers. But, be ready to provide much more information and ensure a longer approval process than the last loan you obtained.
So, what do these trends mean to you?
Sellers
With prices still trending down, you must consider a listing price below the most recent comparable sale. If you fail to get in front of the trend, you'll just follow the other homes for sale down the price hill. With so many homes on the market, buyers are making their initial cut based on photos, so your home needs to show exceptionally just to get attention. You might need to invest in items such as new carpet, paint or appliances to sell. The strategy of offering an "allowance" for these upgrades generally does not work, as buyers can just buy another home where they're already included. Best home at the best price needs to be your motto!
First Time Buyers
First, you folks get the $8,000 federal tax credit, so you're already $8.000 ahead of everyone else. If you have good credit, you can get a good loan regardless of whether you have the cash for a large down payment. If you're looking to buy in one of the more desirable communities you're running out of time. Prices in these areas will rebound soon and mortgage rates might already be trending upward. If you jump in now, you have a better chance of getting your pick of the better homes and a low interest rate. Alternatively, if you're looking in a community that is less likely to rebound in early 2010, you might get a better price if you wait, yet an increase in mortgage rates may offset that lower price and you take the risk of losing out on the better homes.
Step-Up Buyers
The buyer side of your transaction is the same as the first time buyer except for the tax credit. But you also need to figure out what to do with your current home. If you can qualify for the new mortgage and don't need the cash to buy, you can consider renting while the market recovers. In that case, you'll be buying low and selling high! If you need to sell, you're in the same boat as any other seller. So look at the combination of both sales. You'll probably conclude that now is the best time to make the move since you'll be saving far more on your larger home than you're foregoing on your sale.
No matter your situation, recognize that these are very important financial and life decisions. Be sure to engage the services of a quality Realtor, mortgage professional, title company and home inspector to help you make good educated decisions.
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| Why YPN? |
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| By Mac Cassity
YPN Chair-Elect & Membership Chair
 Why should I join YPN?
That's a good question. Why the heck SHOULD you join YPN? I mean, you can still go to the mixers and events (albeit at higher prices), you can still visit the Chamber website and stay connected via the regular emails...why should you bother joining? Let me see if I can paint a little picture for you...
Most of the professionals who are active in the Young Professional Network have one main goal in mind: To Build Their Business. Fair enough, I know that is why I came aboard myself. An organization like YPN is designed to help you do that simply by the fact that it works to put you in front of other business professionals on a regular basis. Building your network and acquiring business is bound to occur on some level just by the action of attending a few events and following up with a few people. But, there is a BIGGER, much more VALUABLE reward that awaits those who take the next step of membership and/or involvement in the YPN...and it's called...FRIENDSHIP.
You see, while I was at one time consumed with the BUSINESS I would get from joining the Chamber and subsequently the YPN, I never really took time to see the bigger picture. It seemed as if the more I focused on trying to push my brand, the more I PUSHED other members away...and this is certainly NOT what I wanted. Because I kept persevering and continuing to attend events, I eventually was invited to look at YPN and what part I might play in this new group of burgeoning Young Professionals. At first, and I'll admit this freely, it seemed like a lot of work. I think at one point, in the span of one month, I went from not knowing anything about YPN to helping build a house for a needy family, and meeting with about 10 local business owners about the Chamber, YPN, and what it could do for THEIR business. Now, all the while I was involved in these activities, I was NOT alone. The YPN Steering team was right there beside me...pushing me, encouraging me to not only do my best, but to have fun while doing it and build new business relationships all the while. What went from a perception of "work" changed quickly to "fun" and the ride has not slowed down since. In fact, it has picked up steam. It feels like two years ago when I joined YPN, I sat down on a trolley car, and looked up to find myself on a speeding bullet train, and believe me, I am enjoying the ride!
The YPN is more than a business organization. It is a true FAMILY of local professionals who are there to support, encourage, and WORK WITH you. Your choice to become a member of YPN or simply to get more involved with one of the committees will be met with not only acceptance, but guidance as well as friendship. This incredible group simply COULD NOT WORK if not for teamwork, and more importantly, the friendship of the members. Speaking of which, the more involved I got with YPN, the less and less I thought about MY business, but instead, how I could help OTHERS in the area become more successful. The funny thing is, this attitude has helped make others feel MUCH more comfortable about finding out more about what it is that I do and my business endeavors have simply THRIVED because of it.
The fact is, YPN wants you to get involved and not only support the positive initiatives of the group itself, but to help support YOU and your business and get more value out of each and every activity you take part in. I invite you to email me or give me a call. We can sit down together and you can find out more about what it is that we do...locally...TOGETHER. YPN Membership has its privileges, I guarantee it!
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| Love Sports? Play YPN! |
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By Brian Kushner
Luxe Retirement Strategies and Steering Team Member
Howard Counties YPN Recreation League was established for young professionals to network in a fun, stress-free environment. The vision behind Howard Counties YPN Recreation League was to introduce people that wouldn't otherwise work with each other and mix in a fun atmosphere for them to establish and develop relationships. One of the backdrops for YPN to accomplish these traditional goals in a non-traditional way is through our sports league.
Our first foray into sports was a bowling league. This league followed our vision and created teams based upon mixing YPN members from different business; there were teams with attorneys and mortgage brokers, newspaper writers and computer techs, etc. Add to the formula of diverse players and networking a healthy dose of fun competition and we found a way to have a really fun time while getting some really productive networking time - all while participating in a bowling league. A great deal of business was shared between team members on and off the court.
We have successfully launched sports leagues in bowling, kickball, Dodge Ball and Two-Hand-Touch Football. Currently, we are recruiting for a Co-ed Two-Hand-Touch Football League. The team is will be filled with 16 Young Professionals. One of the great things about the Rec League is everyone has the same objectives: meet new prospects and lead or referral sources, get their body moving a little bit, and have fun. In my experience it actually takes work to NOT achieve these objectives. If you are interested in playing Two-Hand-Touch Flag Football email brian.kushner@srsbenefitsvcs.com.
YPN Recreation League is also working on setting up One Day Tournaments. We have talked about a One Day Wiffle-Ball Tournament, One Day Soccer Tournament, One Day Basketball Tournament (a game of H.O.R.S.E of course) . For the future, we are planning a day of familiar games like potato sack races, water balloon passing, and running with an egg on a spoon relay. The goal remains the same - to energize and allow people who are and are NOT good at networking meet new people with similar business goals. It is always stressed that YPN Rec League is based on business people first.
It is important to remember when joining a YPN Recreation Team that you don't have to be good at the sport or even played it before to join the team. We are not looking for the best athletes! We don't care if we win, though it is nice. Howard County YPN Recreation is however looking for people who want to have fun. Now.....if you are a good athlete and want to join the team....Well....we won't turn you away. One thing we do ask is that you show up for games. If a TEAM MEMBER can't make a game they are just required to let the team captain know in advance of the game in order to insure there are enough players for the game. For example: We always play in Co-ed leagues (Male and Female Players) that require a certain amount of females on the field or court at a time. If we don't have that number at game time the game will be forfeited. This both defeats the purpose of the league and costs the team a potential win.
Another part of YPN Recreation is attending events as a group. We have gone to Orioles games and Wine Tastings as well as other events that fall under the Recreation umbrella. Currently Howard County YPN Recreation is planning many more exciting events to give YPN Members yet another avenue to network and meet new people. Idea's we are working on include a bus trips to NYC, Atlantic City, OceanCity, Harpers Ferry to White Water Raft. We are working on an annual YPN Golf Tournament. For Next year, we are planning trips to festivals like the Reggae Festival, Wine in the Wood, or even a possible one we organize.
We NEED more teammates! If you are interested in joining the YPN Recreation Committee or just want your name on the list for current and/or future teams please email Brian Kushner with LUXE Retirement Strategies @ brian.kushner@srsbenefitsvcs.com.
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