Interview With Real Savvy Real Estate

While blogging for Take Sunset, I’ve come across all different kinds of real estate-centric blogs, but none has captured my interest quite as much as Rebecca Rosenfelt’s Real Savvy Real Estate. Rebecca is passionately obsessed with real estate, just as we are here on Take Sunset. She’s lived and traveled all over the country and abroad, and along the way she’s continuously researched different real estate markets and toured open houses. Rebecca closed on her first property in her early 20s–when most of us were still crashing with roommates and trying to scrap up enough cash each month to make rent. Today, Rebecca is hunting for a place to buy in San Francisco and happily researching and writing about all-things real estate. As Rebecca says, deciding whether to buy a house–and then actually taking the plunge–can be scary and confusing. And the goal of her site is to demystify the home buying process for first-time buyers and beyond. She provides top-notch, unbiased information on everything you need to know. Rebecca took some time away from helping the beleaguered home buying masses to answer a few questions from Take Sunset.

Take Sunset: What do you hope readers get from Real Savvy Real Estate?

Rebecca Rosenfelt: I remember feeling so alone when I went through my real estate purchase. My peers weren’t yet thinking about real estate, and aside from the sporadic advice of family members, I didn’t have someone to be my partner throughout the process. I didn’t even know enough to get my own realtor, so I just worked directly with the seller’s realtor. There are a lot of great people in the real estate industry, but I think home buyers really need a place they can go to get unbiased information from someone who’s not making money off them. Whether it’s advice about how to pick a mortgage lender, stories from the front lines of home buying, or just someone to get all excited about houses with you–I want to offer home buyers that sort of partnership. I essentially want to create the site I wish I’d had when I bought my first place.

Take Sunset: In your opinion, what is the biggest mistake a first time home buyer can make?

Rebecca: Poor planning. A home can be a source of great comfort, pride, and happy memories. But it can also be an absolute prison if you don’t plan well. By now, most of us know someone who has had their lives torn apart because of their real estate holdings. You’ve got to have a handle on your five and 10-year plan in life. And within that, you also have to plan for uncertainty. What will you do if you lose your job? What if you want to have kids? What if the market tanks? Having an exit option in multiple scenarios is really important. Also, know what your limits are and stick to them, which is why I advise people to figure out exactly what they can afford before they step foot in an open house. It’s so painful to fall in love with a home you can’t afford. You start making justifications, and that’s not a road you want to go down. Real estate is as much an emotional investment as it is a financial one, but it’s crucial to not let your emotions overtake your decision-making.

Take Sunset: I love the Real Estate Porn section on your site. You know we love some Real Estate Porn on Take Sunset! What is your dream home?

Rebecca: I can seriously go on for days about my dream home. But I’ll spare the Take Sunset readers. In sum, my dream home would be in a slightly offbeat part of a city near great public transportation. It would have an in-law unit or a separate apartment/guest house. I’m all about having my mortgage subsidized, so an income unit is a must. See, even in my dream scenario, I’m still frugal! But on top of the income potential, I also like the idea of having space for friends and family to stay when they visit. The flexibility of having two homes in one is huge for me.

Take Sunset: I like the way you think, Rebecca. So, what is one thing you wish you knew that you didn’t know when buying your first home?

Rebecca: I wish I’d known how to be a savvy, kick-ass home buyer, instead of a weeping puddle on the floor of my condo a week before closing. (True story: I had a major freak out and had to call a realtor relative to talk me down). I didn’t make any big mistakes in my purchase, but I feel that that was almost just dumb luck, which doesn’t feel very empowering. I’ll definitely be a savvy real estate ninja on my next purchase, and in the meantime, I hope to help others feel empowered and inspired. That’s my way of paying back the universe for the good luck I’ve had.

Take Sunset: Your friends and family must ask you for real estate advice constantly, right?

Rebecca: All the time! What I love most about talking real estate is that it’s always collaborative. I like thinking through problems and scenarios with people. For example, my aunt recently bought a beautiful condo. As commonly happens with new homeowners, she’s obsessing over all the other condos in her neighborhood, trying to figure out why they’re priced the way they are and how it reflects on the price she paid. We’ve learned a lot about the market together—it’s a suburban area, so it’s given me the chance to learn about non-urban real estate for a change. I love poring over the listings with her, and when we have time we check out the open houses. But basically, I’m a partner in real estate stalking. No question is stupid, and no idea is too outlandish for me to entertain. I’m always happy to play, and I think that all home buyers need someone like that in their lives.

Thanks, Rebecca!

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