It’s no secret that homeownership is a key driver of wealth and economic security. At this point, it’s not really up for debate. The combination of building equity through mortgage payments and home appreciation is a powerful combination. We’ve gone in detail throughout many articles throughout this site in particular about increasing the black homeownership rate. As a citizen of this country, regardless of your race, ethnicity or sexual orientation, it’s in your best interest for the GDP of this nation to increase. By increasing the homeownership of African Americans, you increase the wealth ..read more

We’ve written plenty of articles about the home buying process. How you should find a good realtor, a good lender, get pre approved, how long it takes to close on a home etc… But some people would rather a 2 minute version of the entire process so that thy can get a rough idea of what it entails. A bite-sized take home if you will. Ok, in a nutshell: Step 1: Improve your credit. The higher your credit score, the lower your interest rate, which will save you thousands of dollars over the life of the loan. For the most part, you can improve your credit on your own. Certain types of home loans al ..read more

In real estate, time is usually your friend. Home prices tend to appreciate (meaning increase in value) so the longer you hold on to a property, the more money it is usually worth. Well, time may be your friend in the short term as well. These are scary times. The stock market is extremely volatile, more than 20 million people have lost their jobs and many homeowners are now in forbearance – a program designed to basically delay mortgage payments so that many of those affected won’t end up losing their homes. Although some people may compare this current real estate market to that of the 2008 ..read more

There are several different types of home loans (mortgages) available to home buyers. We’ll attempt to explain them, simply, in this article. For those who are first time buyers, you should focus on fixed FHA or Conventional loans. The combination of the other programs is typically better suited to those who have more experience, but I’ll include everything so that you can get a sense of the whole picture. You can adjust the term length of the loan for any of these loans. Since purchasing property is usually a considerable financial investment, typically the life of the loan is over many, many ..read more

Are you ready to buy a home? Great, home ownership is the key to building generational wealth, particularly in our community. But first things first, this will likely be the biggest financial transaction of your life so it’s important to understand the home buying process. Chances are that you will need to get a mortgage to finance the purchase of your desired home, which means you will need to work with a lender who will loan you the amount you need to buy a home. Here are a few tips to increase your chances of getting a loan. Step 1 – Your Credit Score You’ve heard about the importance of a ..read more

The best way for black people to build wealth is with home ownership. If you’re renting, you’re not building any equity; you’re merely increasing the wealth of your landlord. Home ownership is how you build generational wealth. It stabilizes families and gives us control over our own neighborhoods. Homes are an asset. They generally appreciate over time, meaning they increase in value. This is especially true in many of the neighborhoods in which we reside that have seen a sharp increase in gentrification due largely to the neighborhood’s proximity to downtown. Ask anyone in any major city fro ..read more

We often get contacted by people looking to buy a residential investment property. In some cases, they already own a primary residence, and in others, they are first time buyers looking to rent part of their primary residence (e.g. buy a duplex). I’m heartened that people are recognizing that investing in real estate can be a path to wealth creation. That said, many people may not realize just how big of an investment buying a piece of property can be. Think about it, you probably spent months deciding which school to attend, car to buy, or health insurance plan to participate in. Buying prope ..read more

Closing – It is perhaps the least understood aspect of the home buying and selling process. Many people get frustrated at the entire process because, quite honestly, there’s no standard as to how long closing on a house can take. There are so many factors that go into it from home appraisals and inspections to loan underwriting and title inspection delays. An experienced real estate agent has been through hundreds of closings and can walk a buyer or seller through the process, but it can certainly be an anxiety-filled journey for most. Hopefully, after reading this article you’ll have a better ..read more

Buying or selling a home can be one of the biggest financial transactions of a person’s life. Its important that you have someone on your side who understands your unique buying and selling requirements. We do our best to ensure that we match people with the best agents for them. That said, there are a number of questions you should ask your agent that we recommend. It’s important to work with a real estate agent that you trust because the home buying and selling process can be somewhat stressful so you want to feel comfortable with your agent. Can you text them with questions that pop up in y ..read more

There are a number of stories documenting the historical redlining that has taken place over decades, keeping black people out of certain neighborhoods and even entire cities. Equally troubling, it’s sometimes difficult for black people to sell their homes. There are stories of people offering lower prices for our homes, even though similar homes in the neighborhoods end up being sold faster and for higher amounts. The only difference? The skin color of the homeowner. Now, we’ve come a long way so I’m not saying that this happens on a regular basis. There are no hard statistics to validate how ..read more