Only 100?  Well…for now, anyway.

1. The term “The American Dream” didn’t exist until 1931.
2. Owning ten $100,000 houses is better owning one $1,000,000 house.
3. Not everyone needs the help of a real estate agent to buy or sell a home.
4. Great real estate agents are worth every penny they earn.
5. Bad real estate agents can do serious damage to your emotions and your finances.
6. It’s a good idea to take your time and be selective when choosing a real estate agent.  Ask hard questions.  Don’t be bashful.
7. Most of what you need to know about selling your home without an agent can be found online.
8. More real estate transactions fall apart because of the egos of the buyer and seller than they do for material issues.
9. The best phrase to remember when conflicts arise in a transaction is, “The buyer pays, the seller pays, they split the cost, or you kill the deal.”  It can be repeated whenever necessary and always applies.
10. There is no such thing as an insulting offer.
11. Every offer should be treated as the only offer you’re going to get.
12. The first person to name a number in the negotiation is usually the one who loses.
13. The first two weeks a property is on the market are the most important.
14. Your home is not worth what you think it’s worth.
15. Your home is not worth what you paid for it plus the cost of any improvements.
16. Your home is not worth what your neighbor says it’s worth.
17. Your home is not worth what your relatives who live far away say you should get for it.
18. Your home is not worth what you “need” in order to buy your next home.
19. Your home is not worth what you “need” in order to pay off your mortgage(s).
20. Your home is not worth what your refinance appraisal from two years ago says it’s worth.
21. Fixed rate mortgages are almost always a better idea than adjustable rate mortgages.
22. Working with a reputable and experienced lender is critical.
23. It’s a good idea to know a real estate attorney before you buy or sell a property.
24. Real estate attorneys in a transaction can be a blessing or a curse, and you should have a clear idea of which one it is for your transaction before you hire one.
25. Everything in real estate can be fixed by throwing money at it.
26. People do crazy things to their properties on a regular basis.
27. Those same people are usually confused when others don’t appreciate their creativity.
28. Photos of toilets have no place in marketing materials.
29. If you’re buying a foreclosed property, expect it to take twice as long as your best guess.
30. If you’re buying a foreclosed property, expect surprises during the transaction AND after the transaction closes.  Budget for the surprises.
31. If you’re buying a short sale, expect the lender to drop the ball and cause delays at least twice.
32. New carpet and paint can make a world of difference in the appearance of a home.
33. This home doesn’t need to be perfect.  It’s not your final resting place.
34. When you’re buying your first home, be sure you can rent it if you need to and still break even or make money.
35. Your lender will probably approve you for a loan amount that’s more than you should spend.  Don’t do it.
36. If you make one extra mortgage payment per year, you turn a 30-year mortgage into a 23-year mortgage.
37. The easiest way to make one extra mortgage payment a year is to set up an auto-payment system with your bank.  Pay half  your monthly mortgage payment every two weeks.  Over the course of a year (52 weeks), that’s 26 half payments, or 13 full payments.  Paying once a month is 24 half payments, or 12 full payments.  If it’s automated, you’ll barely notice the difference in your cash flow.
38. The wealthiest people I know own real estate.
39. The wealthiest people I know are buying as much real estate as they can right now.
40. The wealthiest people I know are happy to share their knowledge and experiences in real estate.  All you have to do is ask.
41. Whether or not wealthy people “made their money” in real estate, they hold their money in real estate.
42. Foundation work is expensive.
43. Electrical work is expensive.
44. Plumbing work is expensive.  And you definitely don’t want to touch it yourself.  You’ll pay whatever it takes to make plumbing issues go away.
45. Plumbers live next door to doctors.
46. Home warranties are a good idea.
47. Home warranties have their limitations, like all warranties.
48. Open houses do not sell homes.
49. Newspaper ads do not sell homes.
50. There is no amount of marketing that will cause a buyer to overpay for a property.
51. Pricing a home is the most important part of any marketing plan.
52. Real estate investing is as simple as the game Monopoly.  Four green houses, one red hotel.  Repeat.
53. It’s a good idea to buy investment properties before you buy a primary residence.  Almost nobody in the United States does this, even if they know they should.  The pressure to keep up with the Joneses is too much for most people and they cave.
54. If you buy one $150,000 rental property for each three-year-old child in your life, and put those houses on 15-year mortgages, you’ll be able to send your children to school wherever they want to go and somebody else will have paid for it when they turn 18.
55. When everyone else in the world is running away from real estate, you should buy more.
56. Investing in areas you know is better than investing in areas you don’t know.
57. Investing in areas that are a quick drive from your home is the best way to start.
58. When little things in your home break, you should repair them immediately.
59. Service your HVAC once a year.  No exceptions.
60. If you ever light fires in the fireplace, get your chimney cleaned once a year.  No exceptions.
61. Fire alarms and carbon monoxide detectors should be placed in every room in your home.  You should change the batteries once a year.  If you time it with daylight savings time, it’s easy.  Or set a repeating annual calendar reminder on Outlook or Google.
62. People at cocktail parties love to talk about real estate.
63. In most cases, lakefront property is more valuable than lake view property.
64. Location, location, location.
65. “They’re not making any more of it.”
66. School district lines matter.
67. Unique features of a home might be appealing to you and unappealing to the rest of the people in the world.
68. If there are things to fix or update in a home you buy, fix or update them as soon as you move in or they’ll never get done.
69. Mirrors on the bedroom ceiling are only appealing to a select few.
70. There is no national real estate market.  All real estate is local and the only real estate conditions that matter are local market conditions.
71. The best real estate song ever written was, “Sledgehammer” by Peter Gabriel.  It’s a construction classic.
72. The best real estate movie ever made was “Goonies”, which is an adventure made possible by foreclosure proceedings.
73. Pools are great until you have to clean them.
74. Lawns are great until you have to mow them.
75. Paying a neighborhood child to mow your lawn, clean your pool, rake your leaves, or shovel your driveway is a good investment.
76. You want to know if a neighbor has a barking dog before you commit to buying a home.
77. You should always invite your neighbors to your house parties, even if you don’t like them.
78. Insurance companies are in the business of “not paying claims.”  Understand your homeowner’s insurance policy before even making a phone call.  The C.L.U.E. system is a nasty one for homeowners.
79. You can appeal the tax assessor’s valuation of your home to save on property taxes.  You should do this whenever it makes sense.  Don’t be afraid of the tax assessor.
80. Wait until after the transaction closes before shopping for a new car, furniture, or anything else that would require someone to pull your credit report.
81. Moving money around when you’re under contract is a bad idea and can kill a transaction, even if you’re moving more money into your account.  Yes, I know that sounds crazy.  It is.
82. You should “pretend commute” from your new home location before you commit to buying it to understand the traffic patterns during rush hour.
83. Check the strength of your cell phone signal in your potential new home where you’ll be using it the most.  Have your spouse/significant other/children/parents do the same thing.
84. The local Chamber of Commerce can answer questions about your area that may not be easily accessible online.
85. If there are at least two bathrooms in your home, one broken toilet is not a plumbing emergency.  If you only have one bathroom in your home, a broken toilet is an emergency.
86. Walkscore matters.
87. Having upstairs neighbors can be a disadvantage.
88. The mortgage interest tax deduction is a good one.  Ask your CPA about it and pay attention to legislation that could take it away from you.
89. People will congregate in your kitchen when you throw parties.  If you throw parties often, think hard about the kitchen when you’re shopping for homes.
90. If you can’t find a home you like in your price range after extensive searching, rent a place in the meantime.  It’s better to wait than to buy something that doesn’t make you happy.
91. “Think resale” when you’re buying a home.  The next person will have to like it too.
92. Get a home inspection before you agree to purchase a home.  Be present for the inspection.
93. Understand how many homeowners in your neighborhood are underwater (owe more than their homes are worth).  Keep yourself informed about that number.
94. Be involved in at least one community organization.  You’ll be surprised at what you learn about your area.
95. Don’t believe what you hear on TV about the real estate market.
96. Mortgage interest rates are extremely low now (2011) and will likely stay that way for a while.  Take advantage of it, whether that’s a purchase or a refinance.
97. The automated home valuation tools you find online are *always* wrong.  They’re getting better every day, but still far from perfect.
98. Get permits before you do any remodeling that requires them.  If you get caught cheating, it’s nasty.
99. Check on the permits of any remodeling work that was done in a home you’re buying.
100. Whether you’re buying or selling, remember, it’s just a house, not your life.  Smile.  Enjoy the ride.