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Long Term-Goals

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Real Estate Short and Long-Term Goals
Debbie Pena
Northcentral University

Real Estate Short and Long-Term Goals
This research includes short-term and long-term real estate goals. The short-term goals revolve around assisting people with low to moderate earnings to purchase "green" (environmentally friendly) feature properties without going over budget. Long-term goals include becoming certified in energy efficient programs called Leadership in Energy and Environmental Design, property management services, mortgage programs, and offering classes in credit counseling. The short-term goals will be directly applicable to the long-term goals. In order to meet the needs of the clients, the credit counseling and property management business will change from being a long-term goal to a short-term goal. Clients with imperfect credit (or no credit) need help in obtaining a home mortgage loan. The client might have enough salary to cover the monthly expenses, however, a low Fair Isaac Corporation (FICO) score can cause a loan to be declined. In order for a customer to be pre-qualified, their credit history must be evaluated and old "collections" paid. Proof of payment is sent to three credit bureaus (Equifax, TransUnion, and Experian). If, for some reason, the clients cannot be pre-qualified, they might need the services of a property management services (renting, or leasing) until the credit score is sufficient enough to qualify for a home mortgage loan. The research question: “Are people with low to moderate income able to afford environmentally friendly homes”, will be broken down into several subsets of the question. Several hypothesis or assumptions will take need further information in order to come up with the correct hypothesis. "In other words, you look for data that will support one of your hypotheses and enable you to reject others" (Leedy & Ormrod, 2013, p. 3). Since the study will involve two groups: Low to moderate income Caucasian first time home-buyers, and low to moderate income Hispanic first-time home buyers. The data that will be conducted will benefit from inferential statistics. The information gathered will help the researcher to find the best lending institution that promotes energy efficient mortgages or energy improvement mortgages to low and reduced income households who are interested in conserving energy and money on a monthly basis.
In order to keep sight of the long-term goals, motivation is key. "Keeping a goal portfolio includes both the short-term and long-term goals. Maintaining goal focus. Behaviors and strategies keep the goal(s) in favor of completing. The ability to set aside any negative outlook regarding the vision of goals will continue to be motivational. If a failure occurs, the outcome will be dealt with as a learning process instead of a negative procedure" (Bateman & Barry, 2012).
Long-term goals (LEED certification and mortgage programs) are as important as the short-term goals. However, clients do not require LEED certified Realtors to help with their credit history. Affordable home buying is the main goal for first-time homebuyers. Health and safety issues are of little concern because of unaffordability. Collaborating with other minds will bring new ideas to fruition. By including one or more experts in the field of real estate, health and safety issues regarding houses, and mortgage lending professionals, the more resources available to understand the data, the better (Leedy & Ormrod, 2013).
Conclusion
The low to moderate income but interested home owner is not made aware of the many different types of affordable housing. Because of the lower salary, the minority groups are not educated by professionals in this field. The lower salaried individuals (or family) importance seem to fall by the wayside. Smaller, and less expensive homes do not have the energy saving (sustainable living) amenities. So, lending institutions do not take interest in these types of resale homes. For those who are interested (and qualify), lending institutions that deal with energy efficient mortgages or energy improvement mortgages are willing and able to offer new mortgage programs that will allow new home buyers to save on their monthly energy bill.
By offering new mortgages that offer energy efficiency, the homeowner will be able to profit from the recurrent utility charges. Extra money from the mortgage loan will allow the homeowner to install energy efficient items. Dual pane windows, radon vacuum, high seer HVAC unit, (just to name a few) will save the homeowner money all while increasing the value of the home.
Sustainable living is not as expensive as one might think. Even though people in smaller houses do not have health and safety amenities (i.e. no volatile organic compound, (VOC) paint, mold mitigation) as the larger "energy star" homes have, it is still an important factor regardless of the size or occupant of the home (Foy, 2012). Added research will allow the homeowner more ways to save on monthly costs. The traditional neighborhood development occupies both residential and commercial buildings. The streets allow pedestrians, cyclists, and vehicles to share the same road. However, not all potential home buyers are interested in new living arrangements. Zoning and government policies have caused restrictions regarding traditional neighborhood developments TND's "Carnoske, Hoehner, Ruthmann, Frank, Handy, Hill, & Brownson, R. 2010). So many questions to find answers to. The main purpose of researching (and finding a solution to the problem) is to help people realize their dream. With so many avenues to explore, sometimes goals can become stale or overlooked. "One program of research shows that people are more likely to follow through with a goal if they form implementation intentions: plans that specify the procedures by which the goal will be attained and the circumstances under which specific behaviors will be enacted (Gollwitzer 1999) (Dalton & Spiller 2012, p. 600).

References
Bateman, T. S., & Barry, B. (2012). Masters of the long haul: Pursuing long-term work goals. Journal of Organizational Behavior, 33(7), 984-1006. doi:10.1002/job.1778
Carnoske, C., Hoehner, C., Ruthmann, N., Frank, L., Handy, S., Hill, J., & Brownson, R. (2010). Developer and realtor perspectives on factors that influence development, sale, and perceived demand for activity-friendly communities. Journal of Physical Activity & Health, 7(S48).
Dalton, A. N., & Spiller, S. A. (2012). Too much of a good thing: The benefits of implementation intentions depend on the number of goals. Journal of Consumer Research, 39(3), 600-614. doi:10.1086/664500
Foy, K. (2012). Home is where the health is: The convergence of environmental justice, affordable housing, and green building. Pace Environmental Law Review, 30(1), 1-57.
Leedy, P. D., & Ormrod, J. E. (2013). Practical research: Planning and design. Saddle River, NJ Merrill.

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