How to Finance Financial Freedom and Independence

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.shape behavior:url(#default#VML);If you want to grow a small nest egg into a million dollars in 10 years, real estate investing is an independent business that you need to seriously consider. What beginning investors often fail to understand is that real estate investing is about controlling properties rather than paying for properties. The less of your own money that you invest in each property, the more properties that you will control for no money down or small investments.

© Davi Sales -

© Davi Sales –

The Paper Buy Out

If you think zero or low down deals are difficult to come by, you’d be correct. But that doesn’t mean they are impossible to come up with. I know of one investor that arranged a deal to purchase a $66,000 house for zero down. Of course, the seller was desperate. The seller was out of state and didn’t live in the house. He had repeat problems keeping a tenant in the house because he couldn’t afford a professional management company. Because he lacked steady tenants, he had gotten behind on the property taxes and the house was no longer insured. All he wanted was to get out from under the house without losing it for the cost of back taxes. The seller agreed to carry a second mortgage of $36,000 for no interest and no payments for five years. Based on that, the buyer found a lender willing to issue a first mortgage for the balance of the purchase price. The seller was full owner of the property and walked away from the closing table with $30,000 in cash. The buyer owned a low mortgage property that he could easily pay to have managed professionally. He could pull a profit out of the house for five years before having to make payments to the seller.

As an investor, your primary goal is finding a way to deal with the seller’s equity in the property. When you can leverage the seller’s equity, you can typically find a lender that will payoff any outstanding mortgage on the property if the lender can be in first position with a spread of 30% or more between the money loaned and the fair market value. That’s what makes short sales so difficult to close. The seller has no equity in the property.

Many Ways to Structure a No Money Down Deal

Sellers always want to maximize their equity in a deal. However, the market is what determines how much equity they actually have at any given time. Some insist on holding out on a sale until they receive the high end of what they perceive to be their equity in the deal. Others are more anxious to sell and will trade part of their equity for cash today. You number one secret to putting deals together is learning what is motivating the seller.

If the seller wants cash now, you make a low ball offer that leaves plenty of meat on the bone for a new lender willing to put up money based on the loan being well below the market value of the property. If the seller wants the high end of the fair market value, it becomes a question of how long they are willing to wait for the money. As an investor, you can offer them premium dollar if they will owner finance and take the full value in installments over the next 20 years. If the property cash flows sufficiently, you can take over their existing financing and make a second mortgage payment to them that pays off their equity over multiple years.

Of course, the majority of sellers want to sell at full market value and receive the highest price at the closing table. As a no-cash or low-cash investor, these are not the sellers you should even be talking to. Your strategy is finding the 5 percent of the market that is either willing to sell at a discount or take their full equity over time.

PhotoAuthor bio: Brian Kline has been investing in real estate for more than 30 years and writing about real estate investing for seven years. He also draws upon 25 plus years of business experience including 12 years as a manager at Boeing Aircraft Company. Brian currently lives at Lake Cushman, Washington. A vacation destination, a few short miles from a national forest in the Olympic Mountains with the Pacific Ocean a couple of miles in the opposite direction.


Is Home Staging a Waste of Time?

Staging may not be important and may not raise residential sales prices, according to researchers at the College of William & Mary.

The study, reported by, polled 820 home buyers who were shown a series of six virtual tours of a single property, each focusing either on wall color or furnishings. The tours showed the property without furniture, with “ugly” furniture, with “good” furniture, and with wall colors such as neutral beige and an “unattractive” shade of purple.


photo credit: boulderite via photopin cc

As it turned out, neither wall color nor furnishings made much of an impact on the potential sale price. According to the study, buyers were willing to pay the same price, about $204,000, regardless of how the property was staged. However, the same potential buyers thought that other buyers would spend more on the properties in the tour, which may explain why we don’t question the wisdom of staging.

“These results stand in stark contrast to the conscious opinion of both buyers and real estate agents that staging conditions significantly impact willingness to pay for a home,” the researchers concluded. Study co-author Michael Seiler, professor of real estate and finance at the College of William & Mary, speculates that today’s buyers are savvy and recognize that staging involves cosmetic changes that are not expensive.

However, while sellers may not like hearing that money spent on staging won’t yield a higher price, Seiler says, “I am definitely not ready to say spending money on staging would be a waste.” For one thing, the study found that staging does give buyers a more favorable impression of the home’s livability, something Seiler believes may help the property sell faster. He says the study might not be applicable to all price points and locations.

“It seems plausible that different clientele might be differentially influenced by staging,” he says. “It also seems reasonable to suspect different staging looks would appeal to different tastes and preferences of people.”


Housing affordability is increasing — here’s where it’s up the most

Reports show improving affordability

Homebuyers are enjoying increased affordability — at least according to two new reports released last week. Affordability is up most notably in some of the nation’s higher-priced markets, including many along the West Coast.

Verify your new rate (Feb 28th, 2021)

Housing is more affordable than buyers think

According to the latest Housing and Mortgage Market Review released by Arch MI, “housing isn’t as expensive as you think.”

“Housing affordability is actually better now than its historic norms in most states and remains far better than the worst point for each state since 1990,” explains Ralph DeFranco, Arch MI’s global chief economist. “This may be surprising because we tend to focus on home prices rather than affordability. Affordability accounts for the offsetting factors of low interest rates and a 28% increase in median household income since 2012.”

Analysis in the HaMMR shows the majority of U.S. states require homebuyers to spend less than the recommended 30% of their monthly income on housing costs. In states like Arkansas, Iowa, Oklahoma, and West Virginia, it’s less than 20% — the all-time most affordable level for most of them.

Affordable housing: These cities take the smallest salaries to buy a house

Top cities for affordability

But housing affordability hasn’t just improved in the long run. According to a second report from title insurance firm First American, there’s also been serious movement over the last year.

Buying a house in 2020? Here’s who you’re up against

The improvements were biggest in three cities in California: San Jose, Riverside, and San Francisco. It also became considerably more affordable to buy a house in Baltimore and Denver as well.

House-buying power jumped 22% in Baltimore and 21% in Riverside. It also improved in Los Angeles, Portland, Dallas, Boston, and Washington D.C. Overall affordability improved in all 44 markets tracked by First American.

Verify your new rate (Feb 28th, 2021)

Get today’s mortgage rates

Are you looking to buy a house in today’s affordable housing market? Then shop around and see what mortgage rates you qualify for today.

Verify your new rate (Feb 28th, 2021)


2021 REACH & REACH Commercial Now Accepting Applications

REACH operates a variety of accelerator programs around the globe, created and operated by Second Century Ventures and backed by NAR. The program offers education, mentorship and exposure for technology companies working to scale their businesses across the U.S. residential and commercial real estate markets and expand into adjacent markets, including insurance, mortgage and financial services.

Applications for its flagship 2021 REACH & REACH Commercial classes are now open, but only until January 31st. That means, if you’re an early-stage startup interested, you best start the process now…

Apply Now


The Power of the Network is the Network

Being a part of the CENTURY 21® Network gives each broker and agent access to a host of tools, tech resources, training, marketing materials, and some beautiful branding. But time and time again brokers and agents alike emphasize the valuable relationships that they’ve built with others around the country as the reason why they love this gold brand so much. Since 1971, members of the CENTURY 21 Network have been able to turn to fellow real estate professionals around the world for support with running their office, managing their business, and navigating the ups and downs of the market. With knowledge gathered from coast to coast (and beyond), CENTURY 21 affiliated brokers and agents expand their skills, gain new insights and ideas, and defy mediocrity together.


An unlikely relationship under any other circumstances, Jessie Hoff from CENTURY 21 JRS in New Jersey and Mike VanSickle from CENTURY 21 Gold Rush Alaska, text regularly. Whether it’s to discuss difficulties with a new agent, looking for help with a new lease agreement, or just to vent about the changing real estate market, the support that Jessie experiences from Mike in Alaska helped her to survive a tumultuous transition into office management.

Jessie began her career in real estate as an agent in 2005 at CENTURY 21 JRS. After attending the brand’s International Management Academy* in 2015, she began to transition into a manager-lite position in her office. Shortly afterwards, her broker and mentor suddenly passed away. The closely-knit office was thrown into chaos and struggled to pick up the pieces. Jessie began to lead the office but, “constantly felt like I was drowning.” With nowhere else to turn Jessie began to lean on the relationships that she’d just begun to build at CENTURY 21. “I felt so alone during that time, so in over my head.” Jessie attended as many brand events as she could, seeking out wisdom and advice from whoever she met.

The Power of the Network is the Network image 1

And the CENTURY 21 Network did not disappoint. Fellow brokers gave tough advice, asked hard questions, and then offered to look through and fix up her contracts and documents. Emerging from years of navigating her company’s loss, Jessie attributes her success as now the company owner to the relationships that she has with other CENTURY 21 brokers – like Mike in Alaska.


The value of the CENTURY 21 Network has perhaps never more apparent than in 2020. As offices struggled to navigate the volatile market at the start of the pandemic, brokers were eager to share what they’d learned and resources that they’d compiled. CENTURY 21 president and CEO, Mike Miedler ran regular sessions for all brokers and agents where topics like transitioning to a virtual environment, market analysis, and mental health were discussed.

In early March, details were shared in one of these sessions on how to apply for agent and office funding via a PPP loan. The next day, the requirements changed. Melanie Banks and Ken Murawski, from CENTURY 21 Veterans in PA, created a YouTube video on how an agent should apply for their own loan and how they had completed the application as an office. Shared with brokers in their area, this tutorial went into details on how to enter agent wages, office expenses, as well as what to keep in mind when choosing a bank to apply through. The time and effort that Melanie’s video saved offices was invaluable as Real Estate had been deemed a non-essential business in PA. Local brokers came together for a weekly call where best practices were shared both while their offices were closed and then as the state began to re-open. CENTURY 21 Jackson Real Estate was located in one of the first counties that reopened in PA. They put together documents on how to run virtual open houses, as well as where to find compliant PPE for showing homes. Sharing knowledge transparently in real time helped PA brokers to survive months of uncertainty.    


The connections formed between brokers across the Network are so valuable that some have created groups that regularly meet to share best practices and resources. In meetings of the CENTURY 21® broker-organized Broker Business Advocacy Association, members are able to be open and be vulnerable about the issues they’re dealing with. Sensitive topics like value packages and recruiting are frequently addressed with sample contracts, recruiting materials, and comp plans compiled into a resource center without fear of competition. The group’s president Fernando Semiao from CENTURY 21 Semiao and Associates in New Jersey states that, “Because of the diversity of the group, we’ve been able to clearly distinguish myth from reality in real estate, especially when it comes to our competition. This has helped us put together strong value packages, pulling pieces from each of ours to create the very best version that we couldn’t have made alone.”

Another significant benefit for Semiao are the referrals that he’s received from feeder markets in Texas, Florida, and North Carolina. In the last few years, he estimates to have completed almost 100 deals based on referrals from the group. Holding about 6 huddles each year, the originally regional group recently opened their doors to any broker within the Network.


The desire that brokers have to transparently collaborate and share with the CENTURY 21 Network is especially invaluable for growing companies. The top 100 female brokers recently created a group where they’re able to candidly discuss the trials and successes that they’ve experienced as women in real estate. While women make up 67% of real estate sales associates in the US, yet more men lead real estate companies as a broker-owner (NAR 2019 Member Profile.) The mentorship that the owners of the smaller companies in the group are able to access from women who run some of the most successful companies in the Network has radically changed their mentality towards the way that they’re able to grow their business.

The Power of the Network is the Network image 2

Chrissie Wright, a broker from CENTURY 21 Wright-Pace Real Estate in Arkansas, recently posted on Workplace, the CENTURY 21 internal communications platform, searching for any advice on building a mortgage business in house. She had first been inspired to streamline the real estate process for her clients after attending a brand event focused on elevating the customer experience. “I’m trying to create a one stop shop. I’ve seen other C21® brokers do the same thing who found it very successful. Our markets and demographics may be different, but every consumer is looking for a seamless experience.” She began by bringing a closing company in house, choosing the final moment of the real estate process as her starting point. After successfully implementing the new process where clients physically come into her office to sign their closing paperwork, Chrissie was ready to take the next step.

Because of her post on Workplace, Chrissie connected with another CENTURY 21 broker who was looking to do the same thing. They are now researching together how to best bring a mortgage company in house.

8 Ways to Use Synthetic Turf to Beautify your Yard

Choosing between installing artificial grass, also known as synthetic turf, and natural grass can be a difficult decision for some homeowners. While you may be drawn to natural grass for its feel and organic look, there are a number of benefits to choosing synthetic turf that may make you think twice. If you are too busy to upkeep your lawn, turf provides less maintenance and a longer lifespan compared to traditional grass. It’s also typically created from recycled materials, comes in a variety of textures and colors, and even has the potential to increase your home value.

In some locations, it might even make sense to install artificial grass over natural grass. For example, if you live in a city that has a hot and dry climate such as Las Vegas, NV or Austin, TX, having turf can prevent your lawn from wilting and dying due to the amount of sun those cities get annually. However, if you’re set on using natural grass for your lawn, there are still many creative and aesthetically pleasing ways to incorporate artificial grass into your lawn. Take a look at these 8 ideas on how you can work with an artificial grass company to beautify your yard.

1. Install a synthetic turf golf green 

Your short game is just as important as your long, so installing an artificial grass putting green is the perfect way to get some practice without leaving your home. Golf greens are easy to install and can be customizable. Typically, they are around 1,000-1,500 square feet. For best results, source out an area that is flat, has minimal bumps and extrusions, and gets just the right amount of sunlight. A local turf company can then help excavate, cut, and install the artificial grass and holes. Finished with the proper landscaping, golf greens can serve as a stunning backyard feature that is both aesthetic and fun for the whole family.

2. Build a dog area for play and potty time

If you own a dog and live in a small place like an apartment, having a synthetic turf potty pad for your dog can be a great solution. Typically, they are built with short bristles for cleaning and a drainage system to catch urine. Turf doggy mats are versatile in size and can fit on a sunroom, patio, terrace, or balcony. They are especially great for training puppies or older dogs with bad bladder control. When not in use, synthetic turf potty pads blend in to look like a patch of grass. Not to mention, it saves your real grass from developing brown spots.

If you have the outdoor space, you can use turf to create a play area for your pet. Pet-friendly synthetic turf is a great option if you are trying to keep your dog away from natural grass chemicals. Installing artificial grass for pets also helps prevent fleas and ticks, worrying about patches and brown spots, and digging unwanted holes. Give your dog the ability to roll around in the grass without the worry of getting sick.

3. Use synthetic turf walls and dividers for privacy 

Fences can be an eyesore. However, they are critical for privacy and to keep intruders out. Installing artificial grass fences or hedges is a great way to maintain privacy, while also elevating the look of your backyard by adding greenery. If you are looking for flexibility, some individual paneled artificial grass fences come on rollers that can be used to section certain parts of your yard if you are hosting a garden party or small get together.

4. Make an entertainment area for backyard hangouts 

Do you love to have people over for bonfires, casual wine nights, or backyard parties? Maybe you want to kick your feet up by the fire while you sip on a glass of wine. If you are worried about your feet suffering from uncomfortable surfaces, installing artificial grass around your bonfire pits and patio is a comfortable and stylish solution. Section off a small area, place patio furniture on top, and enjoy a relaxing hangout area on the turf.

5. Create an elegant driveway

For a touch of added elegance, use synthetic turf in between your driveway to bring in patterns and color to the exterior of your home. Real grass can become compact due to the weight of a car. Installing artificial grass between flagstones or concrete can make your driveway pop and always looks fresh.

6. Cover your outdoor furniture with synthetic turf

If you’re tired of boring patio furniture, a fun and unique way to include synthetic turf in your backyard is by purchasing turf-covered furniture. These pieces are designed for outdoor living, are low maintenance, and can be left outside year-round. They are a great way to blend nature with your home and can be designed to look good under a deck, gazebo, fire pit, or play area.

7. Design a multipurpose sports field

For the athlete looking for a way to get some practice in, installing an artificial grass sports field in a larger backyard can get you the training you need without having to go to the local park. Multipurpose sports fields can be used for soccer, lacrosse, or even spikeball whether you want to increase your skills or just get a friendly game in. 

8. Construct a playground 

When constructing your playground, safety will likely be top of mind. In that case, you’ll want to choose a surface that has some cushion to it and is free of chemicals. Synthetic turf is a great alternative to wood chips or gravel, as it has a soft texture and natural aesthetic feel. You can even include a shock pad underneath turf to reduce fall injuries. 

*Before attempting these projects, consult with a turf professional.


10 Awesome Real Estate Tips for Home Sellers – Redfin

When you bought your first house, you likely felt excitement with a hint of nervousness and maybe you even had a “What have I gotten myself into?” kind of moment. However, those emotions passed and you settled in and made that house your home. Whether you’ve stayed in this home for a couple of years or a couple of decades, when you decide it’s time to sell, you might experience a very similar emotional roller coaster, especially in today’s housing market. To ease your stress, here are 10 awesome real estate tips that will help you get started and possibly even take some of the emotion out of the ride.

An agent discussing with a couple great real estate tips to consider to help them sell their home.

An agent discussing with a couple great real estate tips to consider to help them sell their home.

Tip #1 Find the perfect listing agent 

Probably the best real estate tip there is: find a dedicated, responsive, and knowledgeable real estate agent – someone you can trust to guide you through every step of selling your home. A good seller’s agent will make informed recommendations about a listing price, advise you on which repairs will help you sell your home, and make recommendations about decluttering, staging, and maximizing your curb appeal.

A good seller’s agent shines the most when it comes time to negotiate an offer. The goal is to make sure you earn top dollar for your house and to sell it quickly. This process starts by honing in on the right listing price. 

  • If your home is priced too high it will likely sit on the market and possibly longer than most homes in your area. This may cause prospective buyers to second-guess its value.
  • If your home is priced too low, you could leave money on the table and diminish the equity you’d bring to the purchase of your next home.

Your ideal selling agent will have well-developed instincts for what the real estate market is doing in your area. Take your time and speak to several agents to find someone you can comfortably work well with and will work hard for your interests. 

Tip #2 Determine the best time to list your home

Reliable real estate wisdom suggests that spring into summer is when most people start hunting for a new house. Buyers will typically research properties online months before touring their first home in person. This way they can understand how much house they can afford in neighborhoods that appeal to them most. 

Usually, the end of March or the beginning of April is considered the start of homebuying season. However, this year’s homebuying season seems to have hit early as nearly half the homes listed mid-January into February went under contract in under two weeks. Meaning we are currently in a seller’s market and you don’t have to wait to fetch top dollar for your home.

Getting a 3D walkthrough scan of your home is a great real estate tip that will help you sell your home.

Getting a 3D walkthrough scan of your home is a great real estate tip that will help you sell your home.

Tip #3 Professional photography and 3D walkthroughs are key

Many real estate agents now offer 3D tours of their listings. Virtual walkthroughs are a massive advantage for both buyers and sellers. Buyers can “shop” any time of the day or night, and sellers can “show” their house 24/7. It also cuts down on showings to only the serious buyers. If a buyer is genuinely interested, they will view the virtual walkthrough (probably several times) and then request a showing. 

Professional photography is another great option to show your home in its best light.. Homes listed with high-quality, professional images are known to sell quicker and for more money. A professional real estate photographer will capture each room at the best angle, and highlight its best features. You can also request photos shot at dusk with both interior and exterior lights shining. It’s all about painting those special pictures in your buyer’s mind. 

If you’re selling a luxury listing with a view or large plot of land, consider drone photography to fully capture everything your property has to offer.

Tip #4 Handle the repairs from a pre-listing home inspection

It might be tempting to put off small repairs and let the next owner handle them. Unfortunately, if you list a house with evident and necessary repairs, prospective buyers will also scrutinize your property more closely for larger deferred maintenance issues. If you want to be proactive, one of the best real estate tips for selling your home is setting up a pre-listing home inspection

When you choose to fix everything the inspector finds before you list your house, you gain valuable peace of mind during the closing process. Your buyer will most likely want their own inspection as part of the sales contract, but when that inspector finds everything is in perfect order, your buyer will have confidence in the sale.

Tip #5 Boost your curb appeal

It may feel counterintuitive to work on the outside of your home as you get ready to sell. But when you keep up with lawn maintenance, pull weeds, fix the fence, power-wash the siding, and clean up the cobwebs, your property will stand out and really “wow” prospective buyers. 

Think back to the last time you drove around looking at houses for sale. If the house looked like it was in rough shape on the outside, most of the time, you probably didn’t bother to request a showing. Good curb appeal will draw buyers into your home. They will start to envision themselves playing basketball, grilling in the backyard, or relaxing on the porch. You want to help buyers fall in love with your house and curb appeal will help you do that. 

Tip #6 Declutter… and then declutter some more 

It’s no secret, we all accumulate stuff. However, you want potential buyers to be looking at your home, not your belongings. So another great real estate tip is to have your home appear move-in ready so homebuyers can see themselves – and their things – in your space. To do this, you’ll need to be relentless about removing as many personal items as possible and commit to a minimalist lifestyle, at least until you go under contract on your house. 

Of course, you have items you use daily and weekly. Keep those accessible but out of sight if you can. Remove anything seasonal, like decorations, extra blankets, or anything you won’t use for months. Renting a storage unit or on-site storage container could be helpful and allow you to eliminate extra furniture and other items from your home until you move into your new space. It’s all about perception. A house with minimal furniture, unstuffed closets, tasteful artwork, and a general lack of surface clutter will look clean, spacious, and appealing. 

Staging your home is a great real estate tip to consider when selling your home.

Staging your home is a great real estate tip to consider when selling your home.

Tip #7 Stage your home

One of the most important real estate tips is staging your home. Key staging tactics involve placing furniture and throw pillows invitingly. You can also set a dining room or kitchen table. And placing a vase or two of fresh flowers around the home is a nice touch. The purpose of staging is to show buyers the home’s potential. You want all the main rooms – kitchen, dining room, living room, bathrooms, and master bedroom – to create the feeling that they are already home. 

Tip #8 Always be ready for a showing

When you list your home, you could get calls from agents within hours regarding potential buyers who want to see your home. It’s easier to handle those calls if you do your best to keep your home “show ready.”Of course, that involves keeping the home clean at a minimum. Before you list the house, do a good deep cleaning in every room. 

Be sure to give extra attention to air vents and ductwork by cleaning out the dust and any debris stuck in the vent. Dust all remaining furniture and artwork. Wash the windows and glass doors so they sparkle, and run the vacuum to help refresh the carpets.

Finally, use an odor remover to eliminate any pet odors or lingering smells from last night’s dinner. You can make an incredibly positive impression if the only scent a buyer remembers is the smell of fresh-baked cookies or fresh flowers. 

Tip #9 Accommodate requests for last-minute showings

Unfortunately, buyers are not always available to see the home when it’s most convenient for you. Here’s a list so you can easily clean up and be out of the house in 20 minutes. 

  • Place any dishes in the dishwasher.
  • Wipe down the bathroom and kitchen countertops.
  • Wipe down the toilet seats.
  • Grab a bin and place any loose toys or books inside.
  • Toss any stray clothing in the laundry hamper.
  • Close all the closet doors.
  • If you have paperwork or other clutter on the countertop, tuck it out of sight in a drawer, or worst case, make an organized pile. Organized is better than scattered. 
  • Make the beds.
  • Sweep the floors. 
  • Take out the garbage as you leave and bring your pets with you.

And real estate tip #10 Respond to offers in a timely manner

Be respectful of all reasonable offers. You know what price you’ll accept and on what terms, including what you’d be willing to negotiate on if asked. Most contracts expect a response within 48 hours, but why wait? Respond with a counteroffer or acceptance as soon as a good offer comes in. 

Selling your first house is not easy. But with these 10 real estate tips, moving on to the next chapter in your life can be just as exciting.


For These Retirees, Short-Term Rental Bans Aren’t Just a Perk—They’re a Must>

When Wes Swenson sold his data center company in 2017, he was able to buy the retirement homes of his dreams in Utah. He purchased a $1.5 million house in Woodland Hills and a $1.2 million house in St. George. Both homes are in resort-like communities that tourists love; the former for skiing and the latter for access to Zion National Park, hiking and golf. Both are also in cities where homeowners can make high fees from short-term renting their houses.

But Mr. Swenson won’t make a penny that way. He sought out communities with homeowner association rules, known as Covenants, Conditions and Restrictions, or CC&Rs, that forbid short-term rentals and have histories of strong enforcement.

Real-estate agents around the country say that it is far more common for a buyer preparing for retirement to seek out a property where they can generate revenue by short-term renting until they are ready to occupy the house themselves.

But for a minority of buyers, making sure they will spend retirement in a community of neighbors, not a rotating cast of visitors, is essential. This is especially true for retirees who want the same deserts, mountains and coastlines as short-term renters. By a long shot, buyers over 65 in the NAR study identified a “desire to be closer to family/friends/relatives” as their top reason for buying a new home, indicating how important community and relationships are to this age group.

Ensuring a short-term-rental-free neighborhood has gotten harder in the last few years. From the beginning of 2015 to the beginning of 2020, U.S. units rented short term on both Airbnb and Vrbo grew from about 450,000 to 1 million; revenue grew by 150% in that same period, according to Jamie Lane, vice president of research at AirDNA, an analyst for the short-term rental industry. Though the pandemic caused travel, bookings, and revenue to nosedive, a recovery is already under way, Mr. Lane said.


Terner Housing Innovation Lab Launches Nationwide Search for Early-Stage Housing Affordability Innovators

Housing Lab is kicking off its second group of ventures to elevate creative solutions to the housing crisis and promote an equitable recovery from COVID-19. They are looking for solutions that address racial and economic inequities in the housing market

Housing Lab offers:

  • A $100,000 grant to invest in product development and growth
  • 6 months of advising from dedicated coaches who are experts in policy and regulatory strategy, along with access to coaching around business development, financial modeling, partnership management, and more
  • Access to Terner Center’s network of builders, policymakers, nonprofits, and entrepreneurs

Highlights from the 2019-20 Cohort:

  • Closing of seed and Series A venture capital funding
  • Closing of funding vehicles to acquire property
  • Acquisitions that widen impact potential
  • Formal partnerships with other cohort members
  • Expansions to new states and markets

The early application deadline is March 12th and the regular deadline is April 7th. Apply early to ensure Housing Lab has enough time to get to know your company.

Apply Now


66 Questions to Ask When Buying a House – Redfin

As a first-time homebuyer, it’s easy to feel overwhelmed even before you begin your homebuying journey. After all, this is a new process for you and, simply put, you don’t know what you don’t know. First off, there are no silly questions you can ask during any stage of the homebuying process. So always feel free to ask a question, no matter how trivial you think it might be. You owe it to yourself – and your family – to find out everything you can about a home, especially since it will most likely be the largest investment you’ll ever make. To help you get started, we’ve created a list of 66 questions to ask when buying a house, broken down into each stage of the homebuying process to help keep you informed.

11 questions to ask before you go house hunting

As you well know, buying a house is a significant investment. Before you start house hunting, think through your goals for homeownership. Why do you want to buy a house? 

  1. Do you want to earn equity and build wealth by owning a house? 
  2. Do you expect you might need more space for a future family? 
  3. Do you have a pet or see one in your future and you want a backyard? 
  4. Do you want to live in a quiet, established area or somewhere more lively? 
  5. Do you enjoy yard work, gardening? How much backyard space do you require?
  6. Have you considered the local schools and neighborhoods? 
  7. Have you looked at crime rates around the neighborhoods you’re interested in? 
  8. Is it essential for you to live close to your work? Or, is a commute ok? 
  9. Have you narrowed down a range of purchase prices you can afford?
  10. How much money do you need for a downpayment? 
  11. Are you pre-approved for a mortgage

When you’re wrapped up in the excitement of house hunting, you may forget which questions to ask when buying a house.. If you are a pet owner looking at condos, you’ll have to be sure the homeowners’ association allows pets. Or, let’s say you want to live in a popular downtown neighborhood, but plan to have children in a few years – will this neighborhood still suit your needs? It’s always worth giving some thought to the type of home and area to help focus your search. 

Also, be aware that being approved for a home loan saves time for everyone by ensuring that you, as the buyer, can actually afford the home and be able to follow through an offer. 

7 questions to ask when you interview agents

Contacting the agent listed on the for-sale sign of a house you’re interested in may not be the best way to protect your interest as a buyer. When you work with your own agent, that agent’s job is to represent your interests. They help research the house, find answers to all of your questions, and serve as your professional intermediary for communicating with the seller’s agent and homeowner.

Naturally, you will want to choose a great real estate agent that you are comfortable with and feel like they have your best interests in mind. Most real estate experts recommend that you interview at least three agents identified by recommendations from friends and family who have bought or sold a house recently. Here are some questions to ask potential agents to see if they are the right agent for you.

  1. How long have you been a real estate agent? 
  2. What kind of experience do you have in this specific market area?
  3. Do you usually work with buyers or sellers? 
  4. How do you usually communicate with clients? What should I expect for response time? 
  5. How will you help me search for homes? 
  6. What days and times are you typically available for showings? 
  7. How will you ensure transparency about any issues you see with a house? 

When you set your expectations for communication, home tours, and other information you count on your agent to provide, you have a good chance to establish a productive relationship from the start – which will help you through your homebuying journey.

stylish living room

stylish living room

37 questions to ask when touring homes

This is an extensive list, and not every question applies to every situation. For example, if your goal is to purchase a single-family home, questions relating to condominiums don’t apply. However, this list of questions to ask when touring a house should give you an excellent start in making well-informed decisions when buying your first home. 

  1. What’s the reason for the sale? How long have the sellers lived there?
  2. How long has the house been on the market? 
  3. What is the neighborhood like?
  4. When was the house built? 
  5. What are the property taxes?
  6. Are there any upcoming condo or homeowners association fees?
  7. What are the average utility costs? 
  8. Have there been any major repairs to the property? If so, do you know if they provided a warranty?
  9. Are there any boundary disputes with neighbors?
  10. Are there any shared driveways or communal spaces?
  11. Are there any public rights of way passing through – or near – the property? 
  12. How old are the major appliances and systems?
  13. Are the appliances included in the sale?
  14. What is the sales history of this house, and how would it affect my offer?
  15. Is there enough storage space? Room to grow? 
  16. Is there any evidence of water problems? Can you see damp drywall, basement floors, or open leaks? Can you smell mildew? Or is there a smell of fresh paint that might be intended to cover up a water issue?
  17. Are the walls structurally sound? Look for cracks and look for evidence of cracks covered over by wallpaper that doesn’t look right or paint applied over filler.
  18. Is the chimney in good condition?
  19. Are the windows sound? Will any of the glazing need to be replaced?
  20. Do the ground floor windows have working latches to lock the windows? 
  21. Is the attic insulated? If so, when was the insulation installed?
  22. Is there any soundproofing in the house? (Try viewing the home at different times to hear road noise or neighbors.)
  23. Are there working smoke alarms and carbon monoxide alarms?
  24. Is there adequate cell phone reception indoors? How’s the broadband service in the area?
  25. What type of system is used to heat and cool the house? 
  26. Ask to see the circuit box – does the wiring look up to date?
  27. How is the condition of electrical outlets and switches? (You can bring something to plug into try outlets.) 
  28. Do all of the lights work? If not, why not?
  29. Does the property have any lead pipes? Do you see any issues with pipes in need of repair?
  30. What kind of drainage system does the property have? Is it on the city sewer, or is there a septic tank? 
  31. Is there any asbestos in the property, or has there ever been an asbestos survey completed?
  32. What kind of roof does the property have? When was it last replaced, and what is its current condition? 
  33. Do you see any gutter leaks? Are the gutters cleaned out, or do they need work? 
  34. Are there any trees growing within 15 feet of the property? Can you discern if roots are likely to be a problem? 
  35. Which way does the yard face, and is there any part of the yard that doesn’t receive sunlight throughout the day? 
  36. Would the real estate agent buy this house? If not, why not?
  37. What’s the lowest price you think we could offer for this house and still close the transaction?

You can ask these questions when buying a house – and others as applicable – to understand your likely overall costs to own this home. When you understand all of your costs, you’ll confidently be able to make an offer you can afford

open concept new kitchen

open concept new kitchen

11 questions to ask when making an offer and closing on a home

Real estate agents make offers on homes every day. Their job is to help you make the best offer while protecting you against potential risks with the transaction. 

  1. How does the offer work? Do we communicate with the seller or seller’s agent? 
  2. What contingencies do you recommend including in the offer? 
  3. How much earnest money should we put in the offer? 
  4. When do we need to provide earnest money? 
  5. When should we expect to hear back from the seller? 
  6. If we receive a counter-offer, when do we need to reply? 
  7. How can we sign the paperwork? Digital? In-person? 
  8. If the offer is accepted, what are the next steps? 
  9. How far out is the potential closing date from an accepted offer? 
  10. What are our next steps once the offer is accepted?
  11. What do we do at closing? 

Your real estate agent wants to make the home buying transaction as smooth as possible. If they do not provide this information upfront, be sure to ask. 

You should prepare a list of your own questions to ask when buying a house. It can include any given here, or others that represent your own interests and concerns. Answers to these questions will ease your mind and help you understand what you can expect during each stage of the homebuying process. Completing your research is perfectly acceptable, but don’t skip asking questions of your mortgage broker, real estate agent, and title company. When you gather enough information, you can make the best decision buying your first home.