Listen Up Home Buyers Advice & Tips from True Buyer Agents

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.

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

: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

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

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

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

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

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

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

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

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?

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

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

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

: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

:15 Victoria Ray Henderson introduces Daetara Johnson with Joseph W McCartin Insurance. :55 Overview of why people need homeowners insurance 1:30 When do you pay for homeowners insurance 2:00 How do I know what homeowners insurance I need? 2:30 Condos, single-family, townhouses, log cabins require different types of homeowner insurance 3:31 What questions does an insurance agent ask of the homeowner? 4:00 Do you have pets, especially dogs? Liability claims for dog bites could hurt your chance of getting homeowners insurance 4:39 Claim history is the number one reason people are denied coverage 5:00 more about liability insurance coverage 5:40 Why are people denied homeowners insurance? Are there homes that cannot be covered? 6:25 Climate change and the impact it has on homeowners insurance 7:00 Can flooding cause a property to be uninsurable? 7:30 Difference between a flood and a water incident 8:10 The state of Maryland requires sewage backup coverage 9:40 Homeowners insurance or hazard insurance, what is the difference? 10:00 Home values are on the rise, do I need to contact my insurance agent? 11:00 Should I contact my insurance agent if I am remodeling my home? 11:30 Does work need to be permitted to be covered by homeowners insurance? 12:15 What is a storm deductible? 13:30 What does the Guaranteed replacement cost? 14:32 Replacement cost vs guarantee cost 15:07 Pricing is based on the replacement cost not the market value of your property 15:30 Homeowners insurance is not a maintenance policy 16:00 Too many claims can cause a surcharge 16:20 water losses and roof claims are the biggest claims

Jeffrey Dee is the President and CEO of Habitat for Humanity Metro Maryland Jeffrey talks with Victoria Henderson owner & broker of HomeBuyer Brokerage in Washington DC, Virginia & Maryland. :50 What is Habitat for Humanity? :1:29 Do you rehab houses or all new construction? 2:10 Zero interest on a 30-year loan 2:24 How does Habitat find land in the current competitive market 3:17 Does Habitat receive gifts of land? 3:45 Local governments sell land to Habitat for one dollar 4:02 Current Habitat project at Randolph and Veirs Mill Road intersection in Montgomery County Maryland 4:55 How does Habitat finance its projects? 5:50 Habitat Restores, all over the country, accept donations and that revenue helps create affordable housing 6:40 Who helps build the projects? 7:20 Habitat For Humanity started in 1976 8:12 How many hours of sweat equity are needed from the homeowners? 9:00 New owners take classes, they are set up for success 10:00 How are new homeowners trained so they can volunteer on the building site? 10:35 Habitat houses take longer to build 11:15 How do you determine who gets the opportunity to buy a Habitat home? 12:00 Habitat takes chances on families that would otherwise not have an opportunity to buy a home 12:40 How do people who can’t physically do work contribute to sweat equity? 13:14 People build wealth by owning a home 13:30 Families demonstrate their willingness to work and partner with Habitat to have a home 14:00 Grateful for Habitat for Humanity

On this episode of Listen Up Homebuyers! We talk about exclusive buyer agents. What is an exclusive buyer brokerage? How is this different from traditional real estate brokerages? Rich Rosa is co-founder and co-owner of Buyers Brokers Only, LLC, an exclusive buyer agent real estate firm with offices throughout the Greater Boston area, New Hampshire, and Rhode Island. Rich is the president of the National Association of Exclusive Buyer Agents. He talks with Victoria Ray Henderson, a broker with The Buyer Brokerage in McLean Virginia. 1:00 How does the real estate industry work? There are buyers and sellers and sellers hire listing agents to sell their homes. Buyers can hire a buyer's agent. There are different types of buyer agents. So there are buyers, sellers, listing agents, and buyer agents. 1:03 How does the real estate system work? There are buyers and sellers. There are listing agents and buyer agents. 1:57 Most traditional real estate firms focus on getting listings. They have agents that represent both buyers and sellers. This is dual agency and it happens with either a single agent working with both seller and buyer or two agents in the same brokerage working with a buyer client and a seller client. 2:45 Designated agency is when two agents in the same brokerage represent a buyer client and a seller client 3:34 more on designated agency when the broker designates one agent to represent the seller and one to represent the buyer 4:12 What is a buyer's agent? Found in traditional real estate brokerages you could be buying a home where a listing agent is representing the seller. 4:50 Exclusive buyer agents only represent home buyers. They work with brokerages that do not represent sellers and therefore avoid the potential conflict of interests that arises when you are buying a house listed by the brokerage where someone is representing the seller. 6:20 When a brokerage can have both the buyer and listing agent commissions in-house 7:04 An example of the conflict of interest in real estate transactions 7:30 this type of representation in law is illegal -not allowed due to the conflict of interest 8:05 Why avoid dual and designated agency? 9:01 The listing agent is obligated to get the highest price and best terms for their client, the seller 9:30 Have an experienced agent who will ask questions and look out for homebuyers 10:25 Advice for people attending an open house-don't tell the person there anything about your personal needs 10:48 If you have an agent, tell the person at the open house you are represented. 11:25 Ask questions but don't get into why you like the house etc 12:20 What is a fiduciary? A term used in the financial industry and means that person is obedient to you the homebuyer, duty to disclose, 100 loyal to you the homebuyer 13:00 In-house bonuses for agents to sell their brokerage listings 13:50 Working with a friend who works for a traditional brokerage-same situation as not working with a friend. The conflicts of interest are still there in these situations 14:40 Do your research, interview agents, find someone who won't be afraid to tell you not to buy a house.

Host Victoria Ray Henderson talks with Chris Osaka the Chief Executive Officer for TOMU Studio, 1 bedroom, and 2 bedroom villas delivered to customers. The TOMU Modular construction TOMU was named in Washington Business Journal as a business to watch in 2022 What is Japandi Design? TOMU in Urban Turf regarding upscale modular homes :25 What is TOMU? :50 workplaces changes with people moving out of the cities 1:30 the modular units include electricity, plumbing 1:50 floorplans of TOMU are similar to what you would find in an upscale hotel 2:27 Chris Osaka’s background marketing for Nike and Hilton Created concepts for Nike stores 3:14 4:10 The 3 products are called Villas 4:18 The style is a Japanese Scandinavian concept blending with nature 5:20 The exterior and interior features of the high design Villas 6:00 minimalist not spartan in design, expansive windows and living space 6:30 energy efficient and built to be on-grid or off-grid 7:36 Connecting with local cities and counties and how these can fit in a traditional neighborhood 8:20 work in partnership with local general contractor 8:55 what project are you working on how? 10:00 mechanics of the Villas, wiring, plumbing 10:25 three modules 8 by 20 feet each 11:15 simplify the conduits and suppress the major systems in a singular module 12:15 How does this work with ADU or accessory dwelling unit rules in cities and counties? 13:09 matching the design and engineering for the required site specs 14:30 working on well & septic and the model unit is built with this design 14:55 West coast has a broader understanding of modular homes. Chris is bringing this awareness to the rest of the county 15:34 higher quality modular home built in an indoor environment where materials are protected while being constructed 16:13 Lenders and appraisers 16:50 Inspired by the changes around the pandemic and the opportunity to build housing for people looking for second homes or additional space on a property 17:50 offering an option to homebuyers who want to get out of the city

1:20 TiAndra on high end and cost-conscious kitchen and bathroom designs 1:25 understand how you want to use the space and how you’ll use it in the future 2:10 great resource is Bob Villa from This Old House for residential design 2:44 11,000 for a high-end bathroom renovation up to whatever your budget allows 3:30 bringing in designers and consultants and contractors will add to the cost 3:46 pulling permits to do a new bathroom may require permits and this will add additional costs and time 5:50 move around in the space to know how you use the room and make sure the room flows the way you use it 6:22 think of the flow and how you want to start your day 7:15 how to renovate to age in place consider clearances for wheelchair use, walk-in shower without a curve, built-in benches 9:00 supply delays right now residential and commercial lasting weeks and sometimes months due to the pandemic 10:27 as soon as you know you love something put your order in 10:44 Caitlin on more budget-conscious ideas for bathrooms 11:33 watch for sales from the big box stores to save on sinks, cabinets, and more 12:15 wallpaper that is humidity proof can be used in a bathroom for an update 13:00 have a contractor in mind as your backup in case you start a project that gets too complicated 13:50 typical cost to renovate a basic kitchen 14:30 the open kitchen concept is changing and separate rooms are more popular now during the pandemic 15:00 How will you use the space? Need space for all family members? 15:35 panel ready appliances and windows and doors may work for your space 16:20 When houses are staged it creates the stagers idea for the space, not the home buyer 17:43 cost-conscious ideas for a kitchen 18:10 painting cabinets and lighting makes a big difference and fits on a budget 18:59 buy wet rated fixtures for bathroom fixtures and UL listed products 19:45 more lighting ideas