True Gotham

I have had the good fortune of working with Douglas Heddings and The Heddings Property Group for the past 3 years and in large part due to our success together, I was recently able to purchase my very own 2 bedroom co-op.  So when it was suggested to me that I consider having a First Time Buyer Seminar based on this experience, I jumped at the opportunity hoping that my personal experience as both real estate agent and first time buyer would be valuable to others who were considering the leap to home ownership.  I can say, without hesitation, that purchasing a home has made me a better agent and being an agent was incredibly helpful in purchasing my home.  So why not pass on my experience to others who may be sharing in the anxiety that comes with the thought of owning your own home.

Armed with the concept of a first time buyer seminar, I attended several business networking events that had piqued my interest.  At one such event this past September, in the midst of a conversation with other professional women, the idea was born that I could cater this seminar specifically to professional first time home buying women.  Based on my own anxiety regarding my finances, I had a hunch that an all female arena may provide a more comfortable forum for asking questions about buying a home.  In addition, I was at a woman’s networking event so the idea seemed more than appropriate. The reaction to the idea was overwhelmingly positive as almost every woman I mentioned the idea to said that they would love to attend and that they imagined it would be extremely insightful to learn about all aspects of the process.  So in late September, I set the wheels in motion to hold my first ever First Time Buyer seminar for Women and the 92nd Street Y. 

On a cold and rainy night in November, professional women from a variety of businesses gathered to gain insight on the possibility of buying their first home.  Together with an attorney and a loan officer we discussed topics such as Coop vs. Condo, what drives price, the hunt-& the find and the mortgage approval process. In addition, I spoke in detail about tax advantages to ownership and the rent vs. own equation that renters should calculate to determine the benefits of home ownership.  Our Lending Specialist  gave a wonderful explanation as to what banks are looking for and how they evaluate you in their effort to grant you a mortgage. This was very important for those in attendance as I'm sure it is for most. I learned that many first time buyers aren’t always exactly sure where they stand financially and all had questions about current and past credit concerns. We wrapped up the presentation segment with our attorney sharing the basic overview of the sales contract and what exactly goes into "due diligence."   In essence, we took these women through a step by step timeline of the buying process and showed our audience exactly how the three of us work together to insure a pleasant and hassle-free transaction.

After an hour presentation, we opened up the floor for Q & A that also lasted about an hour.  Each of these women had specific questions that showed how they wanted to have a better understanding of the process here in Manhattan as it can be overwhelming.  The ability to recall upon my own personal experience and how I felt seemed to be invaluable.  All in attendance said they were extremely grateful for my sharing of my experience as well as my understanding of their anxiety, confusion and apprehension on an emotional level. 

All in all we were able to break down the psychology of a purchase informing our attendees of what to expect on each side of a transaction by providing them with a time line of events that took the mystery out of the equation.  I believe that we effectively showed everyone what an amazing feeling it is to own your own home and how with the right team, it is not only possible, but much easier than anyone thought.