The month have May has been a busy one for first-time home buyers now armed with better information and increased knowledge in navigating the waters of purchasing a home after the Greater Portsmouth Area Board of Realtors held an event at Wheelersburg cinema earlier in the month geared towards education.

The group welcomed 12 speakers to go over the entire process of buying a home. They discussed everything from being pre-approved to the types of loans, the types of inspections to have, insurance, and even the legal process involved.

Each speaker spoke for up to five minutes and there were tables set up with the different banks, insurance providers, inspectors and title companies so the public could gather information on the process.

“We had giveaways every 15 minutes and gift bags to those first people who signed up. As far as how it went, we believe that since this was the first event we had in a while, it went great,” President Molly Burnside said. “It is our hope that it will grow each year to become a larger event that will continue to be free and open to the public. We were able to interact with the community and let them know where to go and how to start!”

This event was the first one held in some time and the group says they are enthusiastically planning more in the future.

“This is the first time The Greater Portsmouth Area Board of Realtors has had one in a hot minute,” Burnside said. “Though I do not know the specific date the last one was, I do know that we are planning for another one in the spring of 2025. We look forward to providing the community with much needed information as things do keep getting harder and harder and it is nice to have someone on your side guiding you every step of the way. Furthermore, we want the community to understand that we, as realtors, are here to help them through the home buying journey with local affiliates that are knowledgeable and great to work with.”

According to Burnside, there are many realtors in the area dedicated to making home buying easier and they believe these events are important.

“As this is the type of information— mortgage, insurance, inspections and more—that is not taught in schools, most people do not understand the processes and how important they are to the entire deal and that we as realtors are the connecting link between it everyone,” Burnside said. “Events like these are very important. Knowing who to call, knowing there is someone who is there for you to ask, knowing that even though online may seem convenient, it is more convenient to have an office you can walk into to speak to the people involved so that you aren’t just another number and did I mention most of your local banker provide their cell phone numbers to keep your mind at ease. You matter to the people in this process, and we want the best for you.”

According to Burnside, the market is currently tight, due to low inventory.

“We believe it has something to do with those amazing pandemic interest rates everyone got in 2020, 2021 and parts of 2022. But interest rates are more than likely not going to dip that low again,” Burnside explained. “There are still a lot of buyers interested and a lot of sellers selling. Have you checked into the price of the local market rent these days? You may be paying more rent than what your mortgage could be. I hear a lot of bankers say this most important phrase and I want to pass it on to you. ‘It’s not a no, it’s a not right now.’ When you work at building your credit, and they can show you how, that ‘not right now’ becomes you signing on the dotted line before you know it!”

While the event is held only once a year, Burnside said there are many people and resources dedicated to home buyers year-round.

“As far as resources available to people considering a purchase, your local realtor, mortgage lenders, lawyers/title companies, and inspectors are the main resources you need,” Burnside said. “Your realtor spends a lot of time doing things that most are unaware of. We do not just look for houses for you, or help with paperwork, we are an educated eye looking out for your best interest as well. We look for things that you may not see, and we fight for you behind the scenes. Your local bankers help in ways you are unable to realize because it isn’t just paperwork for them, they do not just fill things out, they also work hard behind the scenes making sure that you get the home you want. Though the process is tedious, the outcome is being secure in a home of your own. And as far as inspectors, just knowing what to expect with a home is important. You may be okay with things you see with your eye, but they dig deeper for you so you will know what to expect down the line. Imagine not hiring an inspector and then finding out that the septic was an old gas tank, or the termite damage is so bad that your house may fall over with a good wind. Imagine not having a realtor on your side and finding out you could have bought that 200k home for 20k less because we understand how to handle negotiations on your behalf. Imagine being approved by an online bank that they are okay with the water not being on and then them telling you it has to be, so you lose not just your money but also your precious time and possibly the home all together. We are all truly here to help!”

Reach Joseph Pratt at (740) 353-3101, by email at [email protected], © 2024 Portsmouth Daily Times, all rights reserved.