2024 First Time Home Buyers Event Guests and Speakers
May was a busy month for first-time home buyers, as they became better informed and educated to navigate the home-buying waters after the Greater Portsmouth Area Association of Realtors hosted an educational event at the Wheelersburg Movie Theater at the start of the month.
The group hosted 12 speakers to walk them through the entire home buying process, and they discussed everything from pre-approval to types of loans to the types of inspections to get, insurance and even the legal formalities involved.
Each speaker spoke for a maximum of five minutes and tables featuring a range of banks, insurance companies, inspectors and registrars were set up to allow members of the public to gather information about the process.
“We gave out prizes every 15 minutes and gave a gift bag to the first person to sign up. As far as how the event went, it was the first time we’ve had it in a while so I think it went well,” said Chairwoman Molly Burnside. “We hope to grow it every year and make it a large event that’s free and open to the public. We’ve been able to engage with the community and let them know where to go and how to get started.”
This is the first time the group has held this event in a long time, and they say they will continue to actively plan more in the future.
“This will be the first time the Greater Portsmouth Area Association of Realtors has held a meeting like this,” Burnside said, “I don’t know when the last one was, but I do know they are planning the next one for the spring of 2025. We look forward to providing the community with much needed information as things get tougher and it’s nice to have someone to guide you every step of the way. Additionally, we want the community to know that as real estate agents, we are here to help them through their home buying journey with local partners who are knowledgeable and easy to work with.”
Burnside said there are many real estate agents in the area who are committed to making home buying easier, and they think events like this are important.
“Mortgages, insurance, inspections — that kind of information they don’t teach you in school — so most people don’t understand the process and how important it is to the whole transaction, and that we as real estate agents are the bridge that connects it all,” Burnside says. “Events like this are so important, it’s important to know who to call, that there’s someone you can ask questions to, that even though online seems convenient, it’s more convenient to actually go into an office and speak to the people involved, and that most local bankers will give you their cell phone number, not just a number. To the people involved in this process, you matter, and we want the best for you.”
Burnside said the market is tight right now with low inventory.
“We believe this has something to do with the incredible interest rates due to the pandemic that we all experienced in 2020, 2021 and part of 2022, but it’s unlikely that interest rates will ever drop that low again,” Burnside explained. “There are still many buyers interested and many sellers selling. Have you checked the current rental rates in your local area? You may be paying more in rent than your mortgage is worth. I hear many bankers say this very important phrase and I want to share it with you too: ‘It’s not a no, it’s not now.’ If you work to build credit and your banker shows you how, that ‘not now’ will be a signing on the dot before you know it!”
Although the event only takes place once a year, Burnside said there are many people and resources working hard on behalf of homebuyers throughout the year.
“Local real estate agents, mortgage lenders, attorneys/title companies, and inspectors are the main resources available to potential buyers,” says Burnside. “Real estate agents spend a lot of time on things that most people don’t realize. We don’t just look for homes or help with the paperwork, we’re also knowledgeable eyes looking out for your best interests. We look for things you don’t see and fight for you behind the scenes. Local bankers help in ways you don’t realize, because for them it’s not just paperwork, they’re not just filling out paperwork, they’re working hard behind the scenes to help you get the home you want. The process is tedious, but the end result is peace of mind in your own home. When it comes to inspectors, it’s important to know what to expect from a home. Understood We can help you see beyond what you see with your eyes and dig deeper to know what’s to come. Imagine what would happen if you hadn’t hired an inspector and found out your septic tank was an old gas tank or your home was so infested with termites that a strong wind could knock it down. Imagine what would happen if you didn’t have a real estate agent on your side and found out you could have bought a $200,000 home for $20,000 less because we know how to negotiate on your behalf. Imagine what would happen if you got approved by an online bank and found out they Understood If you are asked to turn on water when there is none, you will lose not only money but also precious time, and you could lose your home. We truly want to help you!”
Joseph Pratt can be contacted at (740) 353-3101 or by email at [email protected]© 2024 Portsmouth Daily Times, all rights reserved.
