What Veterans Should Do To Own A Home In Pittsburgh – Ronica Craig-Broderick
On this episode of The Closing Table, we sat down with Ronica Craig-Broderick!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Ronica Craig-Broderick…
The conversation began with Ronica introducing herself outside of the real estate world, she is a dedicated mother of four with a unique background rooted in a military family. Her husband, after serving 22 years in the army, retired, and she takes pride in her son who recently completed service in the marines, as well as another son who is currently serving. Adding to the family dynamic, her eldest daughter is immersed in the mortgage industry, creating a work-life blend that adds an interesting dimension to their dinner table conversations.
Geographically and economically, Ronica has lived abroad due to her husband’s military service, but the family has developed a deep connection to Pittsburgh. With its diversity and strong roots, Pittsburgh is not only where her family immigrated but also a city she loves. Despite challenges faced by realtors in the past year, Ronica emphasizes the importance of commitment and being fully engaged in the real estate game.
In Pittsburgh, success is attainable, given its reputation as one of the top four cities to raise a family. The city boasts traditional values, abundant entertainment options, and a rising trend of Airbnb properties. Pittsburgh, often described as the biggest small town, offers a unique sense of community, making it an ideal place to raise a family. Economically, the real estate market in Pittsburgh has experienced changes, with homes taking about a month to sell. However, the city remains affordable, with ample job opportunities and continued recognition as one of the top cities in the country.
In the real estate profession for six years, Ronica entered the field later in life. Despite always harboring an interest in real estate, the demands of being a single mom with four children made pursuing a career in the industry seem unattainable. At the age of 40, she took the leap, earned her real estate license, and, with encouragement from her brother, a real estate attorney, ventured into the field. Although initially part-time, Ronica fully committed to real estate when the COVID-19 pandemic emerged, adopting a “rip off the band-aid” approach. Believing in the power of mindset, Ronica emphasizes the importance of self-belief and the universe providing the right opportunities. Her niche includes working with service members and first-time homebuyers, drawing from her personal experience as a single mother striving for homeownership.
Ronica has encountered challenges in assisting veterans due to a lack of understanding among realtors about VA loans. Despite the simplicity of the VA loan process, many realtors often overlook or misunderstand it, creating hurdles for veterans seeking these benefits. Ronica emphasizes the crucial need for education among realtors, a first step toward enabling veterans to navigate this advantageous system. She’s committed to helping veterans understand and utilize these unique benefits, leveraging a team approach with specific lenders and a dedicated closing company. Through this collaborative effort, Ronica ensures that her team extends discounts to veterans, making their home purchasing journey smoother and more gratifying.
Regarding her background in politics, Ronica acknowledges the significant role it plays in her real estate approach. Her foray into politics allowed her to hone invaluable people skills. Initially joining her brother’s state senate campaign upon obtaining her real estate license, Ronica later worked on multiple other campaigns, gaining experience in communication and adaptability. Despite her non-affiliation with the Democratic party, she embraced the tolerance and learned the importance of balance between political ideologies for effective governance. Her experience highlighted the necessity for cooperation between opposing sides in an ideal world, emphasizing that irrespective of a politician’s capabilities, their actions often align with financial interests. This perspective shapes her approach in real estate, emphasizing the importance of balance and collaboration for the best outcomes.
When asked about heartwarming stories involving sellers emotionally attached to their homes, Ronica emphasizes the importance of kindness and compassion in such situations. Recognizing that everyone moves for different reasons, she believes that being empathetic is crucial. For Ronica, being a real estate agent transcends merely selling a house; it involves being a friend and, at times, even a therapist. Understanding that everyone carries something, she emphasizes the significance of listening and proceeding at the seller’s pace rather than imposing her own.
Delving into Ronica’s captivating project of restoring an 1892 farmhouse, she recounts how the opportunity to buy the house next to her parents unexpectedly presented itself. Though not actively looking to purchase, the connection she felt to the farmhouse over the years prompted her to seize the opportunity. Acquiring the property at a remarkably low price, Ronica saw it as an investment, especially with the favorable interest rates at 2.7%. Unbeknownst to her, the farmhouse was in dire need of restoration, with a pond in the basement and various mold issues. Encouraging her now-husband to move in and help with the restoration marked a significant step for him, having been more accustomed to renting due to frequent military relocations.
The farmhouse project proved challenging, teaching them not only about the intricacies of the house but also about each other. The initial phase, dealing with the basement issues, offered valuable lessons in teamwork and perseverance. While the restoration presented its challenges, it became a shared endeavor that deepened their understanding of the property and, more importantly, strengthened their relationship.
While the idea of charging rent to one’s kids might be met with skepticism, Ronica defends the notion with a practical perspective. She reflects on the tendency of individuals in their 20s to spend money on non-essential items, drawing from her own experience of desiring a lavish wedding. Recognizing the changing landscape where sending kids out into the world at 18 is financially challenging, Ronica acknowledges the increased cost of living, homes, and groceries. However, she advocates for a middle ground, suggesting that if kids choose to stay at home, charging them rent can be a strategic move. By setting aside the rent money and returning it within five or six years, parents can assist their children in accumulating a down payment for a home, imparting valuable financial lessons in the process.
The conversation wraps up with Ronica reflecting on her experiences and leveraging present-day resources and she would buy her first home. She asserts that now is an opportune time to consider homeownership. Despite the common advice to wait for lower interest rates, she believes that waiting might lead to increased competition when rates drop. Ronica advises a proactive approach: getting pre-approved, understanding affordability, and mentally preparing for the responsibilities of homeownership. She stresses the importance of foresight, encouraging potential homebuyers to consider their life plans for the next five years. This approach ensures not just the acquisition of a home but one that aligns with future needs, fostering long-term stability and equity building.
Check out Ronica Craig-Broderick:
Facebook Business Page: https://www.facebook.com/profile.php?id=100064084053887
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