A house purchase or sale is one of the largest financial transactions you will probably ever make. And the decision to buy or sell a home has profound quality-of-life consequences. We help you to analyze the fundamentals, to think through the life implications of a residence transition, and decide whether or when a change would be right for you. We help you to approach real estate wisely.

We provide unbiased advice about real estate decisions. We help you manage your house as the financial investment that it is. For buyers, we speak and listen to you before you begin your search for a house. We help you articulate your wants and needs early in the real estate process, when it counts most. We help you make financial decisions such as how big a house, how much to put down, and what kind of loan. For sellers, we help you to set a price for your house, determine where and when you should move, what to do next. For renters, we help you analyze your finances and decide whether you should continue renting or make a move to buy. If you decide to buy, we help you to figure out what to buy, when to buy, and where to buy.

There are no conflicts of interest that taint our advice. We are unlike a realtor who wants to make the largest commission possible in the shortest amount of time. We are unlike an asset manager who wants to keep as much of your assets under management as possible. We have no vested interest in restricting your choices and decisions.

See our various articles on real estate as well as media appearances.We have developed a unique procedure for estimating the fundamental value of a house that takes into account the rent that would otherwise have to be paid to live in the house, plus other financial considerations —including transaction costs, the down payment, insurance, maintenance, property taxes, mortgage payments, tax savings, and the proceeds if the house is sold at some point. Once we have the projected cash flow, we can value a house the same way we value bonds, stocks, and other assets—by discounting the cash flow by our required rate of return.

Comments about Houseonomics - to be in bookstores May 5, 2008.

*"The "Home Dividend" is a powerful concept and, indeed, an engine for prosperity." - Ed Yardeni, President, Yardeni Research

*"Thought everything that could be said about housing had already been said? Think again. The Smiths offer a perspective on home buying that is fresh, sensible, and very much needed these days." - Alan Blinder, Gordon S. Rentschler Professor of Economics and Public Affairs at Princeton University

*"The Smiths have done their homework, and with their new book you can do yours too -- on what, for most families, is the most important investment people ever make. Their careful analysis takes account of important elements of the housing decision that even most so-called professional advisers overlook. And their writing is clear and easy to understand. Their book should help millions of American families." - Benjamin M. Friedman, William Joseph Maier Professor of Political Economy, Harvard University.

*"There is a lot of wisdom in Gary and Margaret Smith’s Houseonomics regarding the biggest investment that most people ever make. Anyone considering buying or selling or refinancing a house, determining their net worth or their financial preparedness for retirement should read this book. Reading it would be time well spent for recent college graduates, newly weds, those contemplating moving to a new location and those still renting an apartment. It is so well written that reading it is a joy and yet almost everyone can gain valuable knowledge in the process. The time you take to read this book will be a smart investment indeed. Having taught economics at Stanford for 35 years, I can only wish that more authors were as knowledgeable as the Smiths and wrote this well." - John B. Shoven,
Charles R. Schwab Professor, Stanford University.

*"Houseonomics provides the most intuitive framework for understanding the power of real estate investing. It is a great toolkit for first-time homeowners and seasoned real estate investors." - Matt Thompson, Director of Business Development, Sony Pictures Television International

*"Recent studies show that more than 98% of all homeowners had gains in the purchase of their home if they have owned it over 5 years. The numbers drop measurably for those who have owned for less than 2 years. Houseonomics is among the first books to inform current and future homeowners that owning a home should never be seen as a short term speculative investment but rather a sound long term one. This is a simple to read but powerful reminder of the benefits of homeownership along with useful tips on how to navigate through the process of buying and selling." - Steve Murray, Editor, REAL Trends, Co-Author of The Consumer Tsunami.

*"Houseonomics offers great insights about how to think about home ownership. Its approach is innovative, but the analysis is grounded in common sense. A useful primer for what is the most important investment most people make in their lives." - Paul Efron, Advisory Director [or Retired Partner], Goldman Sachs & Co.

*"The Smiths take a common sense approach to the housing market which is something that has been sorely missing. Houseonomics is not just fun and informative for the first time home buyer, but for industry professionals as well." - Andrew Sloves, Senior Managing Director, Bear Stearns

*"This book is a common sense response to those who question the value of homeownership. The Smiths validate the argument that homeownership is normally a key component of lifelong wealth building. They present a practical guide to basic financial analysis for those planning on owning a home or who currently own a home." - Doug Duncan, Chief Economist, Mortgage Bankers Association