First Time RI Homebuyers Still Face a Marathon, Not a Sprint: Mott & Chace’s Huard LIVE
Thursday, August 05, 2021
Realtor Sarah Huard with Mott & Chace Sotheby's International Realty appeared on GoLocal LIVE where she discussed how she works with first-time home buyers -- and warns them that in the current market, purchasing a home is still a marathon -- not a sprint.
"I’m in it knee-deep with a lot of first-time homebuyers," said Huard. " You go in to make a very solid offer on a 'first-time homebuyer' type of house and you’re up against 15-20 other bids, and you know, the prices going in with those bids are just astronomical, and that affects the community — how can we bring in new families if there are so few options for them even to buy, or attempt to buy?"
"On average, people are making bids on six houses before they have an offer accepted," she added. "So throughout Rhode Island its an issue, because it’s affordability — yes, wages are going up, but you know home price appreciation is fifteen percent right now. It’s tough for buyers, great for sellers — but where are they going? They’re facing it then as buyers."
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"It’s a complex market and I don’t think it’s going to slow down for probably the next year or so. My clients tend to just hop on my back and we’re in it together, because you have to have that intensity and the passion and the end goal is always on your radar," said Huard.
"I think you have to truly be true to yourself and ask yourself is this what I want now, and if it’s what you want now, I will make it happen," she added. "As a team, I work with my clients to make them as strong as they can be, working with great loan officers, helping them get that strong pre-approval, doing drive-bys first, and really spending two hours on a buyer interview, really nailing down what they want."
Mott & Chace Sotheby's International Realty is a paid content partner of GoLocal and appears weekly on GoLocal LIVE.
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