What's New This Month
It’s almost Halloween, and we’re ready to break out the pumpkins, scary movies, costumes, and candy! We find something so magical about October. There are some scary tricks involved, but there’s no bigger treat than dressing up as anything you want and engaging in the simple act of sharing candy with your neighbors.

We strive to bring the Halloween magic to our office each day. Our goal is to help you become what you want and achieve what you want for your business. While we can’t promise you candy when you come to our door, we can offer our sweet support to you all year long!

October is also National Cybersecurity Awareness Month so take a look at some of the great resources we have included in the rest of our newsletter.

Rachel Showalter, Interim Agency Manager
The Kids Want to Be Homeowners
Your teens may think they’re too cool for trick-or-treating this year, but not for financial literacy. A survey shows that kids want to be homeowners, 88% saying they’d like to own a home someday. Nearly all teens thought it would be helpful if their schools added homeownership lessons into their curriculum. Topics could include credit scores, mortgages and financial literacy. 
Common Real Estate Scams and How to Avoid Them
Real estate related cybercrimes are on the rise and the losses are huge. According to a report by the FBI, more than $350.3 million was lost last year, an increase of 64% from the previous year. Wire fraud is among the most common scams, but there are ways to avoid them. Other scams include rental scams, the bait and switch, faking interest and a lockout clause. West Virginia Bankers Title does everything we can to make your transactions secure and protect your assets. For further protection it is important to be aware and always be on the lookout for common fraud. 
Hurricane Ian is a Reminder to All Homeowners
We are lucky to have been unaffected by the destruction of Hurricane Ian and my heart goes out to the people and businesses who were. However, the natural disaster serves as a reminder for all homeowners to check their insurance coverage. Whether you’re in an area prone to disasters or not, it’s important to know what weather-related damage your homeowners insurance policy covers and excludes. Note that some weather-related events may fall under a separate deductible which can be pricey. 
Innovation
It's National Cybersecurity Awareness Month, and I can assure you that the cybersecurity threat statistics in this article are scarier than anything you’ll see this Halloween. Criminal hackers have become more sophisticated, needing only five hours on average to break into enterprise environments. They are acting more frequently and aggressively, making cybersecurity more critical than ever.
Mortgage Trends
Millions of troubled homeowners have been able to stay in their homes thanks to GSE programs. Since their introduction in 2008, GSEs have led to the successful decline of delinquency rates and foreclosures, as well as permanent loan modifications. This article includes information on the GSEs and other highlights in the 2022 Foreclosure Prevention and Refinance Report.
Professional Development
Community means everything to our team, and it means a lot to REALTORS®, too! Real estate professionals are giving back in big ways, donating their time, money and support to charity. Eighty-three percent of the nation’s REALTORS® say community involvement is an essential component of their business plan.  Food delivery to the elderly, and aid to food banks with COVID-19 relief efforts, were the most common ways REALTORS® volunteered last year.
Market Highlights
The equity you build as a homeowner gives your net worth a boost, and it hit a new high in the second quarter. Homeowners with mortgages gained an average of $60k in equity year over year according to this article. Record equity helps maintain housing demand in today’s market. In addition, the wealth accumulation can serve as a financial buffer in case economic conditions worsen.
Buying a Home When You Have Student Loan Debt
Student loan debt is holding a lot of would-be homebuyers down. Nearly one-third of people with student debt claim it’s what has prevented them from buying. While the new student loan forgiveness plan is providing relief, it’s not a cure-all for the problem. Luckily, with some planning, homeownership is still achievable. In order to buy when you have student loan debt, you should lower your monthly payments by refinancing. You should also determine your debt-to-income ratio. The limit for this varies from lender to lender. Finally, inquire about getting an FHA loan. Taking these steps will raise your chances of qualifying for a loan and purchasing a house.