Listen Up Home Buyers Advice & Tips from True Buyer Agents

Meet Steve Kodad is a certified feng shui professional, owner of the Feng Shui Cure, and co-owner of the Intrinsic School of Feng Shui. Steve shares advice on using feng shui to improve the quality of your home. Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

Peggy Bailey is the Vice President of Housing and Income Security, Center on Budget and Policy Priorities. Her work protects and expands access to affordable housing, improves state’s Temporary Assistance for Needy Families (TANF), focuses on child support programs and expands employment opportunities to housing and cash assistance recipients. Before joining the Center, Peggy served in the Biden/Harris Administration as the Senior Advisor on Rental Assistance to HUD Secretary Marcia Fudge. She recently testified before the Senate Banking Committee on housing. 1:45 People simply don't have the money to afford housing Too many families are paying more than 40 - 60 percent of their income on housing Landlords have to charge a certain amount of money to pay the mortgage and maintain the building Minimum rent is out of reach for too many people Multifaceted problem, where do you start? Multi family housing is being developed but most of it is being priced in the upper end of affordability 3:58 Government subsidy to afford high rental cost 4:10 there are pockets of innovation, European countries are taking a more social approach to housing 4:55 People need flexibility regarding where they can live 5:19 Child care is a major factor with housing costs 6:00 Families don't have enough money to afford their basic needs 6:36 Housing justice, everyone has a right to housing 7:04 Housing is a basic need like food and clothing 7:48 Rent mitigation and rent cost containment 8:12 Leveling the playing field and racial injustice with housing 8:25 Racism and discrimination underlines most if not all of the things we've used in the past as solutions 8:40 Reprogram and redesign new plans to correct past racism and discrimination 9:00 Cash programs improves housing, nutrition and more 9:16 Denver Colorado has a pilot project that is doing it right 10:06 A recent housing initiative will increase affordable housing supply, make it easier to build affordable housing and increase the number of units available 10:38 Grant programs for builders to offset the cost of creating housing 11:01 A Capital stack 12:40 rental assistance programs for people who need help now 50th Anniversary of the housing choice voucher program 2024 13:20 Landlord has the control now but that may change and offer the tenant the voucher and option to choose the housing 14:00 Many separate voucher programs available but these can leave some people out 14:20 Not reinforcing the deserving status but delivering housing assistance to those who need it 14:45 What could happen with the housing voucher? 15:30 Reducing discrimination and empowering the individual Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

Listen Up Home Buyers—Jeff Jackson With FIMA Victoria: Hi, I'm Victoria Ray Henderson, the host of the NAEBA podcast, Listen Up Homebuyers. So happy to have back for a second round of conversations, Jeff Jackson, the Deputy Assistant Administrator for the Federal Insurance Directorate. He leads flood insurance operations for the National Flood Insurance Program at FEMA. And Jeff, I want to thank you so much for being a guest again on Listen Up Homebuyers. Jeff: Thanks. It's great to be back. Victoria: So glad to have you. I'd like to start with a very general question. What should every homebuyer know about flood insurance? Jeff: The most important thing to know is then that in all but the rarest of cases, flood risk is not insured through your homeowner's insurance policy. If you want to have coverage for water that comes from the outside and comes inside your house, so not sink backups, not toilet backups. Those kinds of things, but water coming in from the outside, it requires a separate flood insurance policy. You can either buy that from the National Flood Insurance Program, which is through FIMA, or there often are a number of private flood insurance policies that you can buy as well. Victoria: So if somebody lives in an area that isn't by the coast, isn't necessarily by a creek or a river, what do they need to know about flood insurance? Jeff: Well, it floods everywhere. There have been in the last little bit under 25 years, 99% of the counties in America have flooded. So, it's happening somewhere in your county. And what I would say is it's not always readily apparent just by looking around and seeing the distance to the nearest water source, although that's an extremely important factor. Changes in our built environment, the more we see paving, the more we see development of what was traditionally green space can raise our flood risk as well. And so there can be an illusion that you don't have flood risk when in actuality, you're at least perhaps moderately risky. And that certainly is an area when you get there, you would at least want to strongly only consider buying a flood insurance policy. Victoria: Okay. So as you know, I only work for people buying homes as an exclusive buyer broker. So the first thing that we typically do when they're going to be buying a home is see how well they're qualified to obtain a mortgage. At what point should a home buyer be looking at the risk that could be potentially there in a house of interest? Jeff: I would say it's when you get that listing from your broker and you see a list of houses, it's good to go look them up on the FIMA maps to see if it's a place where you would have to buy flood insurance. And we certainly went over this the last time I was here. But for the folks who are checking in for the first time, if you are in a high-risk area, what's called a special flood hazard area, and you have a federally backed mortgage, which is most mortgages, then you're required to buy. For everyone else, it's an option to buy, and for those where it's required, certainly as you go through the lending process, that will be made clear to you. But really, getting back to the heart of your question, it's when you walk through the door of the house for the first time. It's everything from knowing if it's in a high-risk area as you go and choose to look at the listing, as well as when you walk through the property, look around and look for what are there any signs of water in this house? Are there sump pumps? Has clearly work been done because there's a drainage issue in a basement? Many places have that. So you don't have to be scared away that it's a matter of going in and learning as much as you can about the property so that you make a decision about whether or not to purchase it, and then if you do purchase it; First, do you have to buy, have flood insurance? And then second, should you choose to buy flood insurance? Victoria: Right, I always tell people that I'm working...

Steve Brobeck served as the executive director of the Consumer Federation of America from 1980 to mid 2018. Steve now holds the position of senior fellow where he has researched real estate issues since the 1990s. Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is the producer and host of the podcast, Listen Up Home Buyers! with the National Association of Exclusive Buyer Agents Victoria: Hello and welcome to the podcast, Listen Up Home Buyers. I'm Victoria Ray Henderson, and today's guest is Steve Brobeck. Mr. Brobeck served as the Executive Director of the Consumer Federation of America from 1980 to mid-2018, and he now holds the position of Senior Fellow, where he has researched real estate issues since the 1990s. Steve, welcome to Listen Up Home Buyers. Steve: It's great to join you, Vic. Victoria: Yeah, thank you. So we have so many things that we could talk about and that we have talked…But the one thing I'd love to talk about today is the Real Estate Agent Commissions, and specifically that recent verdict by the Federal Jury in Missouri, which ruled that the National Association of Realtors and several brokerages had conspired to fix prices by setting a standard where seller pays the listing agent a commission. And that is split with the buyer's agent. And that decision found the defendants liable for $1.8 billion in damages. And of course, this verdict is just sweeping through the country, could dramatically change the real estate industry. So, I'll start with what are your thoughts on the verdict? Steve: Well I'm not surprised at all; the jury hardly deliberated at all. When they went into that jury room, they had made up their mind. They spent a couple of hours deciding on the damages. Yes, they decided on 1.8 billion, but in fact, with the trouble damages, the cost to the industry could be over $5 billion. And that is just essentially in the State of Missouri, if you project it out to the whole country, you're looking at awards that would bankrupt the industry two or three times over. But that is not what the industry eventually is going to have to pay. Victoria: Yeah. When you heard about this verdict, what did you hope would come from it? Steve: Well, essentially, prices have been set by the industry for 80 to 90 years. And what we'd like to see, and what we believe in at CFA is price competition. And we believe that if there were effective price competition, you would see a much more diverse marketplace. The commissions on average would come down. We predicted 3 to 4%, but just as importantly, there would be different rates for different agents. Those that are really good at what they do, have a lot of experience would be able to charge more than those who just received their license. I just in fact, received a sales license in DC, and I do not deserve 3%, you know, for facilitating a sale. Victoria: Congratulations. And you're always welcome to join my brokerage if you…We offer a great training program. But the reason that I bring that point up is because you mentioned that 3%, or whatever the commission would be. And you know that you as a newbie; newbies never make their full commission, they're always either working on the team, under the tutelage of, you know, somebody and they should be supervised and should be getting some training. Steve: Well, the thing is, yes, maybe they're only receiving one and a half percent. Two reports on this whole problem of training. It's very easy in almost every state for someone to get a real estate license. Yet, this is actually…Practicing brokerage is complicated or it should be complicated and demands a lot of skill and knowledge. And unfortunately, one of our reports documented how incompetent so many agents are. They're often bailed out either by their broker or in many cases they're bailed out by the agent for the other party in the sale. That's just not the way an industry should function. You...

Steve Brobeck, Senior Fellow with the Consumer Federation of America served as the executive director of the Consumer Federation of America from 1980 to mid-2018. He now holds the senior fellow position where he has researched real estate issues since the 1990s. Victoria Ray Henderson is the producer and host of the NAEBA podcast, Listen Up Home Buyers! Duration: 00:14:04 Victoria: Hello and welcome to the podcast, Listen Up Home Buyers. I'm Victoria Ray Henderson, and today's guest is Steve Brobeck. Mr. Brobeck served as the Executive Director of the Consumer Federation of America from 1980 to mid-2018, and he now holds the position of Senior Fellow, where he has researched real estate issues since the 1990s. Steve, welcome to Listen Up Home Buyers. Steve: It's great to join you, Vic. Victoria: Yeah, thank you. So we have so many things that we could talk about and that we have talked…But the one thing I'd love to talk about today is the Real Estate Agent Commissions, and specifically that recent verdict by the Federal Jury in Missouri, which ruled that the National Association of Realtors and several brokerages had conspired to fix prices by setting a standard where seller pays the listing agent a commission. And that is split with the buyer's agent. And that decision found the defendants liable for $1.8 billion in damages. And of course, this verdict is just sweeping through the country, could dramatically change the real estate industry. So, I'll start with what are your thoughts on the verdict? Steve: Well I'm not surprised at all; the jury hardly deliberated at all. When they went into that jury room, they had made up their mind. They spent a couple of hours deciding on the damages. Yes, they decided on 1.8 billion, but in fact, with the trouble damages, the cost to the industry could be over $5 billion. And that is just essentially in the State of Missouri, if you project it out to the whole country, you're looking at awards that would bankrupt the industry two or three times over. But that is not what the industry eventually is going to have to pay. Victoria: Yeah. When you heard about this verdict, what did you hope would come from it? Steve: Well, essentially, prices have been set by the industry for 80 to 90 years. And what we'd like to see, and what we believe in at CFA is price competition. And we believe that if there were effective price competition, you would see a much more diverse marketplace. The commissions on average would come down. We predicted 3 to 4%, but just as importantly, there would be different rates for different agents. Those that are really good at what they do, have a lot of experience would be able to charge more than those who just received their license. I just in fact, received a sales license in DC, and I do not deserve 3%, you know, for facilitating a sale. Victoria: Congratulations. And you're always welcome to join my brokerage if you…We offer a great training program. But the reason that I bring that point up is because you mentioned that 3%, or whatever the commission would be. And you know that you as a newbie; newbies never make their full commission, they're always either working on the team, under the tutelage of, you know, somebody and they should be supervised and should be getting some training. Steve: Well, the thing is, yes, maybe they're only receiving one and a half percent. Two reports on this whole problem of training. It's very easy in almost every state for someone to get a real estate license. Yet, this is actually…Practicing brokerage is complicated or it should be complicated and demands a lot of skill and knowledge. And unfortunately, one of our reports documented how incompetent so many agents are. They're often bailed out either by their broker or in many cases they're bailed out by the agent for the other party in the sale. That's just not the way an industry should function. You have to go back historically. Back in the 1920s, even earlier, the...

Victoria Ray Henderson the host and producer of Listen Up Home Buyers! talks with Dawn Miller a certified appraiser in the Washington D.C. area. Dawn Miller is a certified appraiser with over twenty years of experience appraising homes in Virginia, Maryland, and Washington D.C. She shares her insight on the appraisal process. Victoria Ray Henderson is a real estate broker and National Association of Exclusive Buyer Agents member. She owns HomeBuyer Brokerage an exclusive buyer brokerage serving buyers in Maryland, Virginia, and Washington D.C. Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

Rob Shank is the owner and broker of Crossed Arrows Real Estate and a teacher at Crossed Arrows Real Estate School in Cheyenne Wyoming. Rob talks with Victoria Ray Henderson the host of Listen Up Home Buyers. Victoria is the owner & broker of HomeBuyer Brokerage serving home buyers in Washington D.C., Virginia, and Maryland. :55 How real estate representation works 1:10 Exclusive buyer agency and fiduciary relationships with clients 1:21 Description of the listing agent role and the buyer agent role in real estate 1:55 Why did Rob join the National Association of Exclusive Buyer Agents 2:09 More on how real estate representation 2:30 Description of Wyoming real estate representation 3:08 The role of a Real Estate broker in Real estate 3:34 Clients have a relationship with the broker and brokerage, not the individual real estate agent 4:45 Buyer agents and listing agents work under the supervision of a broker. 4:08 What happens when the broker is representing a buyer purchasing a listing from the brokerage 5:20 How can a broker be neutral in many of these relationships? 5:55 The slippery slope of real estate representation 6:27 A buyers agent should never act as a salesperson 6:47 New marketing slogan, 'We're not going to sell you a house. We're going to help you buy one' 7:08 How buyer agents get paid 7:32 Exclusive buyer agency is a different mindset for the real estate agents who only work for home buyers 7:56 Exclusive buyer agency is a specialty. 8:20 Exclusive buyer agency brings concierge service to home buyers 8:48 Crossed Arrows Real Estate is the first exclusive buyer brokerage in Wyoming Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

:41 Why an exclusive buyer agent/broker? 53 Rona has a background as a teacher and counselor 1:16 Joined a small real estate brokerage specializing in supporting disabled people'shttps://4buyersre.com/ housing 1:33 evaluating a house for wheelchair accessibility 1:46 In Massachusetts in 2006, if you were a real estate agent, you worked for the seller, unless you signed off as a buyers agent, disclosures were often overlooked at that time 2:16 the story that changed how she would work in real estate 3:37 Anything you say to a listing agent as a buyer will be information shared with the seller to their advantage. 5:03 I want to help people make a huge financial commitment to something that would house their lives 5:10 don’t want to sell a thing (house) 5:30 putting pictures on Tinder is like the pictures on a listing 6:03 teaching people how to read through the marketing for a home is the job of an exclusive buyer agent 6:03 Joining NAEBA began in 1992 or 1993 6:56 Rona Fischman is a founding member of the National Association of Exclusive Buyer Agents 7:39 What Rona did as a new agent, in 1992, taking classes through the National Association of Realtors and other class sites 8:50 Tip for buyers find the houses that didn’t sell right away and you can negotiate 9:50 Exclusive buyer agents understand the marketing and know how to work around it Inventory is down in the DC area at this time Spring 2023 10:00 The challenge of protecting a home buyer in Spring 2023 10:30 Rona’s advice on making offers in a competitive environment, Nobody is rich enough not to care about money 10:45 Based on the market study, the market conditions, the competition, and what to expect if you buy at top dollar 11:00 Should a buyer compete for a property for sale? 12:25 Pre-contract home inspection 13:30 A buyers agent at Noon and a sellers agent at 3 pm with a designated agency 13:44 How to evaluate a property? 14:40 Is a three-bedroom really a 3 bedroom? 14:46 The asking price is just marketing 15:15 Altoid box as a junction box 15:47 there’s wrong and easy to fix and there’s wrong and you need to walk away 17:02 Why is Rona an exclusive buyer’s agent? She provides a body of information to enhance a buyer's life 17:30 It’s a conscious decision to give up the listing side to represent home buyers 100% 18:10 We know the listing agents who do good work for their clients. We respect them and love them Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

Dave Nichols a loan originator with NBKC Bank licensed in 50 states & the District talks with host, Victoria Ray Henderson. NMLS #409631 NMLS #662630 First-time home buyer programs Down payment assistance options :57 focus of the podcast is educating home buyers 1:08 what is the lowest down payment option? 1:54 What is a Fannie Mae 3% option? 2:58 How important is a credit score? 3:19 620 credit score may not qualify for a 3% down payment 4:11 What is the debt-to-income ratio and why does it matter? 5:04 what is private mortgage insurance? 5:47 FHA program is more expensive than conventional financing 7:00 when you apply for a loan, the lender examines how much of a risk you are as a buyer 7:48 720 credit score? A lender may compare FHA and conventional financing to see what works best for the home buyer 8:22 What are points? A point is 1% of the loan amount. Should I buy down the interest rate by paying points? 8:54 What is par? 9:50 Full explanation of buying down points 10:31 What factors into the ability to pay down points? 12:31 First step is understanding what goes into your monthly mortgage payment 14:00 can refinance in a year or so be an option? 15:120 Fannie Mae and Freddie Mac are making changes to the way they guide lenders regarding loan-level pricing adjustments Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

Skip Cobb opened Revolutionary Mortgage Company in 1988. Based in Maryland, Revolutionary Mortgage Company provides conventional, FHA, VA, USDA, and jumbo loans. We are licensed in Maryland, Virginia, D.C., West Virginia, Delaware, and Florida. Skip talks with Victoria Ray Henderson on Listen Up Home Buyers! The only podcast offering advice & tips from exclusive buyer agents. 1:00 What is the purpose of Fannie Mae & Freddie Mac 1:20 Two programs we will talk about are the Freddie Mac Borrow Smart Program linked to Home Possible and the new Fannie Mae Purchase Plus program – both are down payment assistance programs. 1:33 Are they available in all 50 states? 2:00 Fannie Mae Purchase Plus program 2:43 How do the programs work? How do home buyers qualify? 3:04 Restricted income 3:26 Borrow Smart and Purchase Plus minority census areas 4:11 It is property driven meaning only some properties will qualify for these loans 4:50 Links to Freddie Mac & Fannie Mae websites for more information 5:00 $5000 max for the Fannie Mae program includes thousands of properties 6:10 Fannie Mae program is not income limited 6:45 You may qualify if you currently live in the minority census area 7:00 Home Possible Program details 7:47 Do your homework! Investigate what programs you may qualify for in your area 9:18 Your exclusive buyer's agent should be answering all your questions and advocating on your behalf 100% of the time 10:23 Online education courses are required for some programs 11:23 Skip Cobb provides details of the lender letter which is sent to the listing agent with the contract offer Skip Cobb Company NMLS: 213201 Skip Cobb NMLS: 211493 Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

Meet Glenn Grutta the owner of Vector Home Inspections in Massachusetts. Glenn talks with host, Victoria Ray Henderson the owner & broker of HomeBuyer Brokerage on Listen Up Home Buyers! :33 One of the biggest challenges to doing a home inspection in winter is getting to the property to do the inspection :52 when snow is on the ground, how do you evaluate the perimeter of the home? 1:20 start with the the interior of the house to keep the property neater 2:00 snow on the roof limits the visual but there are clues 2:15 lines on the roof indicate heat loss in the home 2:45 the lines you see on the roof are the actual rafters This indicates the need for better insulation 3:13 icicles and ice dams on a house 3:38 ice dams are often associated with water in the house but that’s not the entire story 4:15 in the attic, look at the nails in the roof for signs of heat los 4:40 in the winter the inspector spends more time in the attic so evaluate the roof 5:00 newer homes have better insulation than old houses and less likely to have ice dams 6:08 heat cables, what are they? 7:13 advice for home owners in the winter 7:50 look for pipes exposed to the weather 8:03 what to do with water pickets 8:30 plumbing on exterior walls, what to do 9:07 home ownership is doing visual maintenance 9:45 look for clues while doing an exterior walkthrough 10:04 most homes are not graded properly You want a positive grade to the dirt 11:03 remember, water is your enemy as a home owner or home buyer 11:39 create your own history in a home 12:30 weather patterns have changed and there is more water sitting on properties which can cause issues for the home. 12:50 sit with a house before major remodeling projects 14:00 winter time is an opportunity to check the windows 14:32 make a list of your concerns and don’t be afraid to ask questions 15:03 as a home buyer, who inspects the house is your decision. Choose a home inspector who communicates well 15:45 interview your home inspector Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

Mortgage giants Fannie Mae and Freddie Mac raise loan limits for 2023 Meet Ramez Fahmy a mortgage lender with Caliber Home Loans. He explains what is happening in the housing market in December 2022 and what is in store for 2023. Victoria Ray Henderson is the owner & broker of HomeBuyer Brokerage serving Washington DC, Maryland & Virginia :49 Who are Freddie Mac and Fannie Mae 1:00 They are the largest purchaser of mortgages in the country 1:20 largest purchasers of mortgages in the country 2:04 What is a conforming or conventional Loan? 2:24 Home Ready and Home Possible are programs available for home buyers 3:00 Why are Fannie Mae and Freddie Mac raising the loan limits? 3:47 conforming loans have gone up to $726,200 4:07 High-cost areas have higher loan limits 150% higher than other areas 4:24 DC Metro area high balance loans are available up to 1 million 89 thousand dollar loan meaning you could do this with only 5% down payment 4:45 What are the risks for a home buyer? 5:10 important to consult with a mortgage professional to know what you are comfortable spending for a monthly mortgage. Not just what you qualify for but what you are comfortable with each month 6:20 Be forthcoming with the lender regarding your monthly costs 7: 24 How do you see the raising of the loan limits impacting the market? 8:08 Biggest increase seen in a long time percentage wise 8:30 Have a frank conversation with a lender who can talk you through this process 8:51 Portfolio loans 9:35 Seeing more private loans in this market like adjustable rate mortgage programs 10:00 30-year fixed mortgages have been the norm but more buyers are considering ARMS and other options 10:27 What Chairman Powell said yesterday 10:55 downturn in mortgage rates 11:15 adjustable rate mortgages are often done with the intent to refinance in the next 12 -24 months 11:43 Sensational headlines don’t always match what is actually happening in the market 12:15 Reacting to headlines-avoid the herd mentality 12:50 Market conditions today as compared to a year ago 13:33 rates are higher today than a year ago but many buyers are using a temporary buy down 14:51 Meet with a lender and develop your plan of action Learn how to navigate these market conditions Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

Entomologist, Kenton Sumpter with the Maryland Department of Agriculture's Plant Protection and Weed Management, Spotted Lanternfly Program is our guest on Listen Up Home Buyers! He offers is knowledge and expertise on the spotted lantern fly and how to manage the spread of this invasive insect. :37 What is the spotted lantern fly and why should we care? :44 invasive insects were found in Pennsylvania first and encompasses the midAtlantic region and found in Michigan 1:14 agricultural threat and a public nuisance 2:12 they land on people, annoying and secreet honeydew 2:50 they can cause mold to grow with what they secrete 3:03 this sooty mold is common but these insects secrete honeydew which causes this type of mold to grow 4:44 What action is recommended when you see a spotted lantern fly? 5:13 Spotted lantern fly swarm in September and October when they are laying their eggs before the winter 5:49 The spotted lantern fly is usually on a plant called the tree of heaven which is an invasive plant 6:30 What residents should do? Maintain sanitary vehicles, and check your cars before you drive. 7:32 Make a good faith effort to not bring the spotted lantern fly with you when you drive 8:20 no stopping the infestation, we can slow it 8:33 A cold winter would freeze them out but short of that, they are here to stay 8:57 Don’t spray chemicals to combat lantern flies you’ll kill the good bugs too 9:30 Be cautious that you don’t kill off the good insects 10:02 praying mantis may help but not the big green type as they are invasive insects native to China. The Carolina praying mantis is a good choice 10:30 spiders and other native insects are good 11:53 spotted lantern flys stay in groups 12:12 Females are huge in September and October as they are full of eggs 12:40 Landscape level pests so they don’t build nests 13:00 Eat vines, garden plants, 70-100 plant species that they will eat. 13:30 Recap-when you see the lantern fly, report where you find them but not if you are in Cecil and Harford counties or Hagerstown Maryland 14:10 Go to MDA spotted lantern fly or Maryland Department of Agriculture to learn more 15:26 dontbug.md@maryland.gov with questions, concerns, quarantines, permits, and more 15:43 moving regulated articles from/to the spotted lantern fly area, you’ll need a permit 17:29 We’ll have to co-exist with the spotted lantern fly See pictures and more information on the spotted lantern fly on the following websites: Maryland Department of Agriculture USDA Animal and Plant Health Inspection Services Department of Agriculture and Markets NY State Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

Introduction of Jeffrey Jackson the Deputy Assistant Administrator for the Federal Insurance Directorate within the Federal Insurance and Mitigation Administration (FIMA) at FEMA the Federal Emergency Management Agency (FEMA). Mr. Jackson leads flood insurance operations for the National Flood Insurance Program (NFIP) at FEMA. :52 FEMA’s top priority is education 1:05 Everyone is at risk of flooding. Flood is the most common natural disaster in America 1:15 98% of counties in America flooded to some degree last year. Where it rains, it can flood. 1:32 updating the way we price insurance, rate insurance policies 1:42 Last year, insurance policies changed for the first time in the history of the program based on the individual risk of your property 2:10 Houston is a prime example of climate change 3:10 First-time buyers need to learn about the community and where the property of interest sits within the neighborhood 3:48 Your homeowner's insurance does not always include flood -call your insurance agent to learn about flood insurance 4:30 Based on the characteristics of the home, how likely your property is to flood, giving homeowners transparency of their risk 5:03 FEMA would love for everyone to have flood insurance. Every home is at risk of flood 6:20 If you don’t have flood insurance, borrowing funds or home equity loans is the option 6:57 Mitigation, there are things to do to lower your risk 7:39 Kentucky-heartbreaking to see what flooding has done to communities 1-2% of the residents had flood insurance 8:41 Insurance puts you on a better trajectory for recovery 8:55 After a disaster, one in four small businesses never comes back 9:20 FEMA affordability program working with Congress so they can consider passing affordability legislation 10:21 Victoria shares a story about looking at a property in Riverdale Maryland 11:08 What do the letters on the FEMA Map mean? 11:19 V zones are coastal high risk A zones are river and high risk but you can’t just look at a map and make an informed decision 12:00 40% of all FEMA claims come from outside the high-risk area 12:35 the FEMA maps are a snapshot in time 12:47 If you’re close to a high-risk zone, chances are you will be at risk even if the rating is X or considered low risk for flooding 13:35 Home buyers, look at the FEMA map to see the flood rating of the property of interest. Also, contact an insurance agent to understand the real risk (if you are next to a high-risk area) 14:00 Encourage informed buyers! There is much to learn but the flood risk of a property should be on the list 15:30 How to move ahead if you want to purchase a home in a high-risk flood area 15:54 Floodsmart.gov is the place to start learning about flood insurance and mitigation 16:30 Elevating a home can make a difference 17:02 Before you purchase a home, gather all the information available to make an informed decision 18:01 Know your risk before you buy and have a plan in place for flood loss 19:36 Be wary of people who want you to look past information regarding flood 20:15 FEMA sees how much climate change is impacting our country 21:00 Not just rivers and coast, flood risk is impacted by rain, mudslides and the more development the flood risk goes up 21:30 We need to up our IQ on flood risk 22:45 Flood insurance policies issued by the National Flood Insurance programs 23:21 The higher the price, the more at risk you are of flood 23:30 Low-risk properties flood every single day FEMA links for more information Flood Insurance | FEMA.govFEMA Flood Map Service Center | Welcome!FloodSmart | Welcome to the NFIP | FloodSmartFloodSmart | Why Buy Flood Insurance?FloodSmart | How Are Flood Insurance Rates Determined?FloodSmart | Flood Preparation and What To Do After A Flood Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C....

Victoria Ray Henderson, the host of Listen Up Home Buyers! Talks with Peter Parente. Peter is a Settlement and Business Development Officer with Stewart Title working out of the Washington, D.C. office. Follow Peter's Instagram is @titlepartnerpete 1:03 What does a title company do? 1:15 The buyer has the right to choose the title company 1:35 What are escrow funds? 1:58 Second portion of the escrow funds 2:28 How do you evaluate settlement offices? 3:21 Look up who will be the insurer 3:43 Why should a buyer consider owners' policy insurance? 4:25 An example of a situation where owners title insurance may be necessary 5:00 Another example of where owners' title insurance was used 5:30 What is lenders' title insurance? 6:08 How should you evaluate settlement charges? 7:12 In the loan estimate, everything should be disclosed upfront 7:43 When shopping lenders, the title fees will be included in the estimates 8:10 What is a boundary survey? 8:40 What is a location drawing? 9:12 Flood insurance 9:30 Stewart Title is an option for buyers As Stewart can close in all 50 states 10:11 Peter Parente is a settlement office and does marketing for buyer agents 11:15 Peter shares a personal experience of living in the Netherlands 12:10 How to properly wire funds for closing To avoid wire fraud 13:00 Always check with the lender and/or title company regarding wiring funds 13:44 @titlepartnerpete on Instagram Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

Tim Rohde is the Vice President of Tomato Electric serving homeowners in Northern Virginia, Washington DC and Maryland. Victoria Ray Henderson is a real estate broker in the Greater Washington DC area and the host of Listen Up Home Buyers! :47 what to look for when first walking up to the house 1:03 the electrical panel 1:47 is the wiring in good condition 2:21 Where does public service begin? 3:06 What is the public electric company's responsibility? 4:27 Red flags to look for when touring a home 4:32 the two-prong receptacle 4:46 why ground a receptacle? 5:26 Why have GFIs in the kitchen in the bathroom? 6:45 Identify the type of wiring in the home 6:50 What is GFI protection? 8:00 Are there time periods when certain wiring was used in home construction? 9:12 Red flags when examining an electrical panel 9:34 The panel should have a main shut off 10:19 Screw-in fuses, breakers, rust spots, PVC jacket, cloth wiring 11:41 looking at an older meter base they are smaller than the new ones 12:09 wire is frayed going into the meter base 12:38 anything that touches the house is the responsibility of the owner 13:08 what a new installation should look like Newer wiring, what a panel should look like on the inside 14:09 Fuse panel with the screw-in type fuses. Instead of circuit breakers that trip if there is an issue 14:35 fuse panels have been phased out they should be replaced 15:32 the split bus panel with no breaker. The top six spaces are for the main shut-off. This is an older-style panel. Also called the square D panel. 16:07 Next picture-PVC coated jacket which is newer wiring, tidy neat going into the panel which demonstrates good workmanship 16:40 Should there be an inspection sticker on the electrical panel? 17:45 Next picture-an example of what a good new install should look like: new service, 200 amp, approved sticker on the panel, ground wire, newer SE cable which is the bottom wire that feeds the main panel, the good outer jacket PVC coated 18:36 What to do if you see water or rust in a panel 18:52 Final picture of frayed wires-cloth wiring, Romex wire with PVC coating, deteriorated and should be replaced 20:00 Aluminum wiring is a potential hazard 20:27 Suggested ways to fix aluminum wiring in the house 20:41 The problem with aluminum wiring 21:03 What to look out for with BX wiring -two types cloth wiring and PVC BX wiring with an outer coating 21:49 What is the current code for smoke detectors? How many should I have in my house? Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

Aromatherapy interview with Katrina Piehler a certified health and wellness coach, licensed massage therapist, and essential oils educator. Information about what to look for when choosing essential oils and what makes doTERRA one of the best choices: https://www.doterra.com/US/en/why-doterra?OwnerID=5552817 :55 what is aromatherapy 1:23 home should be our sanctuary 1:48 powerful natural well-being tool we intentional use to create a supportive environment 2:10 using aromatic compounds from plants-roots, fruit rinds 3:05 protective elements of the plant and different plants produce different essential oils 3:37 Victoria talks about walking past jasmine and how it made her feel 4:10 in the fall cooking up orange rinds, cloves, and cinnamon sticks 4:56 How are aromatherapy and essential oils different from the store-bought sprays and plug-ins? 5:19 fragrance means it's a synthetic ingredient made in a lab 5:37 our body doesn’t know what to do with synthetic sprays and other synthetic products 6:33 Are you allergic to synthetic products or essential oils? 7:37 Katrina recommends Essential oil company doTerra 8:12 the power of advertising for scents, sprays, and other synthetic products 9:14 How can I tell what is pure essential oil? 9:25 where does the oil come from? There are ethical parts to this evaluation 10:36 You can personalize the oils for your specific needs 11:26 lavender helps with sleep and it’s calming and is a powerful scent to use in the evening 13:26 Diffusers can be the alternative to the plug-ins and sprays 14:02 How do I choose the right diffuser? Katrina recommends doTerra 14:45 Diffusers come in many sizes. Choose one that matches your room size 15:35 Are there any specific seals of approval to look for on websites? 16:00 certified pure grade oil is one certification to look for on websites 16:36 Katrina offers consultations to help you determine what products will be best for you 17:30 What oils would you suggest using during the day? 18:00 Not just about making your room smell good 18:38 Use Vetiver for sleep 18:49 chamomile has a calming effect on the nervous system 19:05 Protective nature of the oils especially to purify the air 19:48 Next episode will be about cleaning products to use in the home Home Essentials Starter Collection -- https://www.doterra.com/US/en/p/aroma-essentials-collection?OwnerID=5552817 (this is a great essential oils kit that includes a high-quality mist diffuser and this wonderful collection of 10 different oils and ready-made blends for your home) Peppermint:doTERRA Balance®:doTERRA Breathe®:Wild Orange:doTERRA On Guard®:Citrus Bloom®: doTERRA Serenity®:doTERRA Cheer®:Adaptiv®:Northern Escape™:Katrina's website with information about how to start using essential oils AND a link to book a complimentary personalized essential oils consultation with her. https://living-from-center.com/essential-oils---how-to-use-them-.html Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

Glenford Blanc is the owner of Pro-Spex a residential and commercial inspection company serving the Greater Washington DC & Baltimore area. Victoria Ray Henderson is an exclusive buyer broker serving homebuyers in Maryland, Washington DC and Virginia. 1:08 What do buyers need to know when buying a house with a deck 1:36 Many decks are very old and not safe 2:06 Do you have a deck 10 years or older? 2:30 First met Glen when he was inspecting a deck for a buyer 3:00 What am I looking for when I am touring homes? 3:30 Older decks connected to the house with poor connections 3:50 Primary cause of deck failure 4:43 What are older decks bolting to when connected to the house? 5:00 new construction has requirements that make it safe 5:42 the two-story deck that is commonly built on the back of a townhouse or house 6:00 A swaying deck is not a good sign 6:20 What is under the deck? How does it look? 6:32 The support of a deck? 6:47 What is a ledger? 7:10 Look for bolts in the deck connecting to the house 7:37 What is a Joyce? 7:40 the structure of a deck, Glen explains 8:18 bolts should be staggered to prevent rotation 9:30 examine the posts supporting the deck 9:50 What is the fix for a poorly constructed deck? 10:39 Post rot is going to happen it’s a matter of time 10:50 Should have deck inspected every two years Montgomery County Maryland offering free deck inspections this month 11:30 About swaying decks 12:00 Check the condition of the deck surface 12:45 Spring is when people go out on the deck after a long winter 13:25 About trek decking 14:00 Have your deck evaluated before you entertain on your deck Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

Ramez Fahmy Branch manager and lender with Caliber Home Loans talks with Victoria Ray Henderson on Listen Up Homebuyers! :45 rates are going up as they did in 1992 :1:05 the current rates are still historically low but not what we’ve been seeing during the pandemic 1:47 Are we in a bubble or is the market going to crash? 2:14 All clients today have been fully vetted not like in the past 2:30 The movie the Big Short gives a good example of what happened before when the market bubble happened 3:08 Some buyers are modifying their home search due to the interest rate increase 3:39 Inflationary signs 4:25 What are you comfortable qualifying for? What are you comfortable paying every month? 6:19 Don’t get caught up in the competitive market 6:15 Escalation Clause explanation 7:11 FOMA fear of missing out 7:58 Waiving the appraisal? Explanation 8:29 What if the appraisal comes in under the sales price? 9:12 Ramez Fahmy explains how waiving contingencies need to be a decision made after consulting with your lender 10:00 What does an appraiser do? 10:41 The importance of choosing a lender who is communicative and local to the market 11:48 What about online lenders? 12:15 How quickly will your lender get you to settlement? 13:00 Provide the lender with your documents 14:00 Listing agents frequently call the lender to ask questions about the contract deadlines 15:32 VA Loans 16:04 VA financing has no maximum amount which means home purchases can be as high as the buyer can qualify for-zero down a 2 million dollar property 17:34 The VA appraisers On an FHA or conventional loans use local lender panels VA has its own panel of appraisers Many of the VA appraisals are coming in the same amount of time as the conventional and FHA loans 18:46 Change the hearts and minds of listing agents 19:23 The VA funding fee 21:00 People need to educate themselves on the loan process Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.

:50 Overview of common definitions in real estate with Rich Rosa president of the National Association of Exclusive Buyer Agents & Victoria Ray Henderson What is a down payment, earnest money deposit, fair market value, market value, and assessed value 1:11 Rich Rosa on deposits and how they work in the Boston, Rhode Island areas 1:40 the two contract processes in Massachusetts 1:53 what is a purchase of sale agreement? 2:27 FHA loan you’ll put 3.5% down payment 2:37 first time home buyer programs in Massachusettes 2:47 VA Loans Earnest Money Deposit and the Deposit 3:13 Earnest Money Deposit in the Washington DC Baltimore areas 3:53 What happens to the earnest money deposit if the transaction falls apart? 4:28 In the Massachusetts area it’s different 5:02 at some point you are in the transaction and you cannot wake up the morning of closing and say, “I’m not buying the house” 5:35 Listing office holds the deposit in Massachusetts 7:00 Rich talks about the down payment which is different from the deposit 8:55 Difference between pre-qualification and pre-approval 9:54 Pre-Offer Loan Commitment explained 10:45 When would you waive an appraisal contingency? 11:20 Buffet table example of the options available to home buyers 12:03 What is an underwriter? 13:00 What is a use of occupancy agreement or a post-occupancy agreement? 14:00 What are the limits of the post-occupancy agreement? 15:25 How should a property be delivered to the buyers? What is the meaning of broom clean and free of debris? 16:24 Fair market, assessed value, and appraised value, what are the differences? 16:53 Rich on tax assessments 17:45 What is an appraisal? 18:23 What is a comparative market analysis? 19:08 How does an appraiser appraise a property? 19:36 What is an appraisal contingency? 20:44 Maryland Homestead Tax Credit Listen Up, Home Buyers! The podcast offering advice and tips from true buyer agents. Host and Producer, Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage in the Washington D.C. area. Victoria is and a member of the National Association of Exclusive Buyer Agents.