16 Questions with Hometap’s Head of Design

As Hometap’s head of design, Martha influences just about everything you see at Hometap.com, and some things you don’t. From our content to our Fit Quiz and each digital homeowner experience, she makes every visit to our home-on-the-web feel approachable, clean, and elegant.

Q1: Was there ever a point (either in your education or in your early career) when you considered another career path that wasn’t in design?

I initially wanted to be a fashion designer; I got to study in Florence for a semester and realized very quickly that that’s a scary business to be in. My first job ever was in marketing as a coordinator for a small company, and I found myself doing things like creating banner ads, creative graphics for blog posts, email blasts, so about a year into that job I asked if I could make the switch to design full time.

Q2: You’ve led and overseen large design teams and worked at startups as a solo designer. What are you able to do differently when you have a team under you and what are the benefits (if any) to going it alone in a smaller setting? Is there an “ideal” team size for you?

In my previous role, as a creative director, I oversaw process and craft for a cross-geo design team of about 55 people. With a team that size, my entire day is made up of meetings and planning, with no time for execution at all. The benefit is you get to set the course from a high level, but you’re not the one implementing it. I like to be a player-coach; I like to be in the details. I’m a better designer when I’m closer to the work, and I’m more passionate about the outcome when I’m invested in the smaller details.

Having said that, there isn’t an ideal team size per se, but to be able to do both — to be in the details when needed and have the ability to zoom out and see things at a higher level is where I want to be.

Q3: How do you define and measure the success of a product’s user experience from a design perspective?

What makes Hometap so great and what makes us stand out in this space is how good our customer service is. Whether I’m reading a Trustpilot review or I’m interviewing a homeowner, it always comes back to the level of service that the Investment Manager gives. And so the most important thing about our digital product is that we provide that same experience online. We want it to feel just as comforting and trustworthy and accessible as talking with our Investment Managers feels.

The best way to measure that success is to talk to the homeowners who have experienced the Hometap Investment process. What did they like? How can we do better?

Q4: How would you describe your personal design style? Do you feel your personal preferences and your company’s style need to align? Does it make work more challenging when they don’t?

My design style is really minimal, maintaining lots of white space. I believe that less is more. I like to think the reason I was chosen to lead Hometap’s design is because the leadership team saw a lot of overlap in my portfolio and what they envisioned for Hometap’s brand.

That said, it’s not essential for my style and our brand’s style to align. Frankly, I wouldn’t be good at my job if I couldn’t execute well on a project because it wasn’t my personal preference of style.

A design needs to do the job at hand well and serve its purpose. There’s a balance of decisions that are subjective and objective.

Q5: What’s the biggest challenge you face as head of design at Hometap?

On a macro level, design challenges are similar to marketing challenges: We’re trying to communicate a concept that’s new in a space that’s already so tightly defined. How do we do that succinctly and without a lot of complicated explanation?

Q6: You’ve spoken at live events, including a UX conference in Denmark and several industry events here in Boston. What is that like?

I came to a point in my career where I felt like presenting at events would make me a well-rounded professional, especially in my past life as a consultant where so much of your success is dependent not on the quality of the design, but on your ability to sell the design. The more comfortable you can get at pitching your concept to a crowd, the better you’ll be at your job. I was always afraid of public speaking; I wanted to challenge myself. I’m glad I did it, and I still find it terrifying.

Q7: What is your favorite type of project and what area of design does that fall into? What are some of the things you’ve done that you’re most proud of?

I’ve been lucky enough to be all over the place when it comes to types of design. I’ve done campaign work, plenty of packaging and print, brand development, and digital product design. I personally like product design best, because I really like the puzzles that come from designing software. What’s intriguing about Hometap is we have the homeowner-facing piece but also intricate processes on the underwriting and side that we’re always improving for our internal personnel. It’s a fun challenge to think through.

Q8: How do you stay apprised of the most current practices within Design? What inspires you?

I subscribe to a few industry newsletters that I check regularly. I follow designers I like on Instagram for visual design, but mostly leveraging the Boston design community and my personal network is where I get the most value.

I’m part of a global Slack group for design leaders that’s been invaluable when it comes to topics like how to structure a department, how to manage, etc. Design leaders from all over the globe participate, so as a new design leader I like to be a fly on the wall there and learn from people who have been doing this for a while.

Q9: What’s something you wish teams or individuals understood about design that they often get wrong? Are there common misconceptions or things you find yourself explaining often?

It’s so much more than “make it pretty” — the visual design, the colors and fonts we pick. It’s about solving a problem. Whether we’re doing it with marketing collateral, a logo, or software — it’s about identifying a problem, and figuring out a graceful solution to solve it.

At Hometap

Q10: What are the qualities you’re looking for when recruiting members of your team?

I’m looking for enthusiasm over experience; you don’t have to have most experience in the world, but if you’re coming in eager and hungry and want to learn, those are the people I look for. Hometap has done a good job of finding people with the same strong desire to help and do good for homeowners; new members of the design team need to reflect those same values.

Q11: Do you have a go-to interview question (when interviewing any role)? What is it?

I always pay the most attention to what questions the interviewee has for me. You learn more about the questions they ask you; you learn a lot about what they care about.

Q12: What was it that appealed to you about Hometap as a business?

The mission was certainly appealing to me, but the people over anything else were what won me over. I was really impressed by everyone I interviewed with. They were extremely intelligent, experienced, and passionate. It was clear that they had a strong desire to do what was best for homeowners.

It’s like when you step onto a college campus for the first time and have that feeling of “I just know this is the one.” And I was right.

Q13: If you could trade jobs with anyone else at Hometap for a week, what position would it be?

Capital Operations. I would love to have a better understanding of the investor side of our business. I get to talk to a lot of homeowners, but that’s just one side of Hometap.

Q14: What’s one quality someone needs to be successful at Hometap?

The desire to bring solutions over questions. It’s easy to come to the table with a list of things that could be better. It’s a lot harder to be the one coming up with the solutions, and I think that the most successful people are willing to do the legwork of coming up with the ideas to solve business problems.

Office Culture

Q15: What qualities do you look for in a company’s office culture?

I look for a company culture where leadership is transparent with everyone, and where there is a level of autonomy. I think everyone is more invested in an outcome when they’re empowered to make their own decisions. And I look for a company that has a customer-first mentality, is mission-driven, and where people are encouraged to be weird and unique and themselves.

Q16: What has been your best contribution to the happiness team?

Whitney, Adam and I spent a lot of time making custom valentines for every Hometap employee. And I’ve made a lot of custom Slack emojis.

Take our 5-minute quiz to see if a home equity investment is a good fit for you.

April 29, 2020January 6, 2021

Samantha and Edward boosted their small business with a home equity investment

How Samantha and Edward Supplemented Their Seasonal Business with Their Equity

As new parents running a seasonal business, California homeowners Samantha and Edward were looking into traditional loans to offset slower months.

California-based couple Samantha and Edward run a seasonal business and were looking at traditional loans to offset slower times of year. But “getting business loans proved to be a little harder nowadays,” Samantha noted. As busy parents both juggling full-time jobs, their side business, and child care, Samantha and Edward needed an alternative income stream to suit their growing family.

Looking to both boost their small business and pay off a few debts, Samantha and Edward started researching home equity loans. After comparing their options, the couple decided to access some of their home’s value with Hometap. “[Hometap] really suited our needs,” Samantha said. She also cited no monthly payments and the ability to save as other reasons for choosing Hometap over other options.

In the short term, Samantha and Edward plan to use the funds from their Hometap Investment to boost their small business and pay off a few debts. With increased flexibility from their improved cash flow, they’ll be able to take on new clients and more work, leading to an increase in their income and ability to pay off debt. Down the line, they anticipate an improved credit score that will allow them to refinance existing loans for smaller monthly payments or better interest rates.

“It’s the domino effect,” Samantha said. “We’re trying to take little steps to improve and prosper.”

Samantha and Edward appreciated Hometap’s dedication to efficiency. Documents were provided early for review, the appraisal was prompt, and inquiries were often addressed within the hour.

“It was a very smooth process and everything seemed positive,” Samantha said. “I highly recommend it.”

April 23, 2020June 23, 2022

A Beginner’s Guide to Creating a Diversified Portfolio

Whether you dream of buying a second home, retiring abroad, or paying for your children’s college, investing can help grow your wealth, allowing you to achieve your goals. Diversifying your portfolio is one strategy that can help you accelerate your returns, weather downturns, and build toward your future plans.

What Is A Diversified Stock Portfolio?

Diversifying your portfolio is akin to “not putting all your eggs in one basket.” In other words, diversification means spreading your money across the 11 investment sectors; different industries, such as entertainment, oil, and media; and different vehicle types, such as stocks, bonds, and mutual funds.

There are many benefits to diversification, but the primary one is managing risk. Markets go up and down all the time, but individual sectors, industries, and investment types don’t necessarily follow the same timelines. A variety of investments helps protect you from dips in one sector or industry while maximizing returns in another.

For example, imagine pharmaceuticals and gas utilities are thriving, but software is lagging. With investments across all of these sectors, you ensure your portfolio can still realize gains, while withstanding some loss. Although diversifying doesn’t prevent risk, this strategy does lower your overall risk by placing your eggs in many baskets.

Stocks, Bonds, or Mutual Funds?

With diversification, you have lots of options. Whether you engage a financial professional or prefer DIY investing, understanding all the investment choices available to you is a critical first step.

Here’s a cheat sheet to jump-start your knowledge on investment basics:

Stocks: Also known as an equity, stock is owning a piece of a publicly-traded company. Stock prices or shares can range from single digits to hundreds of thousands of dollars. The key is to invest in a variety of individual stocks across many sectors.

For example, making huge bets on two Consumer Packaged Goods (CPG) companies may seem like a sure thing, but these industries face the same pressures and therefore the same market risks. For a built-in mix of individual stocks, consider mutual funds.

Bonds: These lower-risk investments are equivalent to a loan that will be paid back in a set timeframe. That loan could be to a company or a government. On the upside, you’ll gain interest as the loan ages, but with lower risk comes lower, and often slower, returns.

Mutual Funds: If you have a 401(k) already, it’s likely you have a mix of mutual funds. A mutual fund is a variety of individual stocks and bonds that are packaged together. Some mutual funds are managed by a financial professional, while others track the performance of a stock market index, which means lower fees than an actively managed mutual fund.

Target Date Funds are also a class of mutual funds that seek to grow assets for a future date, e.g. retirement. This class of funds typically invests in riskier stocks when you’re young and grows more conservative with more bonds as you age.

Exchange-Traded Funds (ETF): Similar to a mutual fund, an ETF is a mix of investments. However, they do behave similarly to an individual stock in that they are traded daily and are purchased at a share price. ETFs often have a lower minimum investment than a mutual fund.

Foreign Investment: Diversifying your portfolio also extends to the geography of where you spread your wealth. Just as you should avoid investing solely in one industry, like automotive, it’s wise to invest outside the U.S. Many emerging markets around the globe play a significant role in economic growth. The BRIC (Brazil, Russia, India, China) “account for roughly 40% of production globally.” The other advantage is these markets often experience highs and lows independent of the U.S. market.

Real Estate: As a homeowner, you know the value of owning your home. But real estate is also a sound investment to grow your wealth. Whether buying a second home, flipping a home to sell for a profit, or investing in REITs, real estate is a reliable long-term investment opportunity. Just be sure that you’ve done your homework on which cities are best to invest in.

Your Own Business: Investing in your own business venture has multiple benefits in addition to the monetary ones. Having greater control of your income and your retirement options are just a few of the benefits of starting and growing a small business.

How to Start Diversifying Your Portfolio

The first step to investing is getting on strong enough financial footing that you’re ready to invest. According to financial coach Chris Hogan, “As long as [your money is] tied up in monthly debt payments, you can’t build wealth.” Your investment strategy should look something like this:

Pay off bad debt. Bad debt, like high-interest credit cards, can easily snowball and have debilitating effects on your credit score and can even impact your job prospects. Debt-free may feel unattainable but there are practical steps you can take today to see the light at the end of the tunnel sooner.

Build a rainy day fund. Once you’re in the black in terms of debt, it’s a sound idea to squirrel away money for a rainy day. Unforeseen disasters and unwelcome surprises happen, such as leaky pipes, medical expenses, accidents, and unemployment. The best part of a rainy day fund is it can help you stay out of debt, enabling you to pay for that hospital visit or car repair bill without taking out a loan or putting expenses on high-interest credit cards.

Secure the money to invest. As a homeowner, you may be sitting on the means to take care of debt, and potentially have money left over to build a rainy day fund and invest. Accessing your home equity can give you the cash needed now to realize your other financial goals. You have several ways of unlocking your home equity, including debt-free options like a Hometap Investment.

As with any investment strategy, diversification shouldn’t take a set-it-and-forget-it approach. Many financial experts advise rebalancing every six months to a year depending on performance, your financial situation, and your personal goals.

Educate yourself as much as possible of all your options. To read more on diversification, use credible resources such as NerdWallet, Investopedia, and InvestorJunkie to keep yourself informed.

Take our 5-minute quiz to see if a home equity investment is a good fit for you.

LEGAL DISCLAIMER

The opinions expressed in this post are for informational purposes only. To determine the best financing for your personal circumstances and goals, consult with a licensed advisor.

April 13, 2020June 23, 2022

What Trends Are Causing House Prices to Appreciate?

You know some of the more obvious factors that tend to cause a home’s value to increase or decrease: adding onto the home to turn a two bedroom into three will likely increase its value. Ignoring signs of flood damage and putting off needed maintenance will likely hurt its value. But there are less obvious factors every homeowner should know, too. By understanding what causes your home value to appreciate, you can take full advantage of one of your most valuable assets.

What Impacts Your Home’s Value?

There are several factors you have little to no control over that can impact the value of your home, including time, neighborhood, state, and national trends.

Time

The good news is with regular maintenance, your home value will likely increase over the long run. Data from the United States Census Bureau shows that the average price of houses sold at the beginning of 2010 was $275,300, whereas by the third quarter of 2019 prices averaged $380,300. The average home sold for more than $100,000 more than its purchase price within the decade.

Even when taking the 2008 housing market crash into account, most homeowners saw those home values rebound beyond pre-recession levels (with the exception of a few states). The following graph from DQYDJ.com illustrates how median home prices have grown since 1953.

chart depicting median single-family home prices — source: dqydj.com

You can find out how much your home has appreciated over time by looking at how much it has sold for over the years, how much you paid for it, and how much it is valued at now. Without hiring a professional appraiser, it’s hard to know your home’s value. But you can start to get a sense by looking at nearby comps, or comparable homes that have recently sold in your area.

Learn more about how to identify comps by reading How to Predict the Appraisal Value of Your Home »

Neighborhood Trends: Location, Location, Location

Beyond time, neighborhood, state, and even national trends can impact home values. Your neighborhood has the most direct impact on your home’s value. When appraisers look at your home’s location, they’re looking not only at where it physically sits—next to a highway onramp, near public transit, on a quiet dead end street—but also what’s around it. This includes school quality, job opportunities, crime statistics, and what amenities—shopping, entertainment, recreation—are nearby.

State Trends

As certain cities and states become more expensive, people begin to look to other areas. As the National Association of Realtors shows, certain states have higher job growth than others. Nevada, Utah, Arizona, Idaho, and Texas are some of the states with the strongest job growth from August 2018 to August 2019. They also happen to be the top five states in population growth by percentage between July 2018 and July 2019 according to the United States Census Bureau. The growth in population drives the demand for places to live, which of course drives up demand for homes, and home prices.

National Trends

National trends play a part in home values at a macro level. In a sluggish economy, fewer people are looking for homes, slowing the sale of homes and, with that, slowing the rise of home prices.

Similarly, interest rates impact who can afford to buy a home. As interest rates rise, fewer people can afford to buy a home. Fewer buyers means more supply than demand, leading to lower home values.

Can You Increase Your Home’s Value?

Fortunately, there are many elements of your home’s value you can control. Your home’s value is significantly impacted by how well you take care of it. Consistently performing basic upkeep tasks each month can help you maintain the value of your home (not to mention save you money from costly repairs).

Testing your sump pump, sealing your windows, inspecting your furnace, and patching your driveway, among other tasks, can help you keep your home in tip-top shape.

Sometimes, your home will need more substantial improvements. Home buyers, even those open to a fixer-upper, will expect solid structural elements like a sturdy foundation and roof. Some home improvement projects are proven to increase home value more than others: a new garage door has a 97% return on investment! If you have multiple projects on your to-do list, start with the projects that give you the most value for the cost.

However, it’s just as important to consider small details, like a fresh coat of interior and exterior paint, and landscaping. Buyers who want a move-in ready home will be more likely to see the full value of your home if they don’t have to stretch their imagination to see its potential.

How Can You Increase Your Home Value with Your Home Equity?

According to the CoreLogic Home Equity Insights report, U.S. homeowners with mortgages have seen their equity increase by 5.1% from the third quarter of 2018 to the third quarter of 2019. During that period, the average homeowner gained $5,300 in home equity. In fast-growing states like Idaho, the average homeowners’ equity increased $25,800 in that same period.

For many homeowners, these numbers point to a significant opportunity. By accessing your equity—whether via a home equity loan, home equity investment, or other means—you can get the cash you need to tackle home improvement projects, including more major renovations like building an addition or refinishing a basement. These home improvements can help you get top dollar for your home when you are ready to sell or simply increase the value of one of your largest assets. Compare options for accessing your equity to see what may make sense for you and your property.

Take our 5-minute quiz to see if a home equity investment is a good fit for you.

LEGAL DISCLAIMER

The opinions expressed in this post are for informational purposes only. To determine the best financing for your personal circumstances and goals, consult with a licensed advisor.