More than 100 people interested in various aspects of real estate spent about two hours Saturday at a free home-buying workshop by one of St. Louis’ most successful minority realtors/developers.
The presenter, Mary “One” Johnson Home Team Realty, packaged the “Catch the Dream, St. Louis” as a “wealth-building through homeownership” workshop.
Speakers and facilitators were Freddie Mac (a sponsor), Mary One Roz Ent., LLC, US Bank, Beyond Housing/NHS, Mother’s Way/OIC and American Family Insurance.
The workshop was broken down into four sessions, including Mary “One” Johnson’s Home Team Realty, LLC’s “A to Z of purchasing a new or existing home” and “what are the different agency relationships available with a realtor.”
Johnson, who headed this session, read with patrons a leaflet that chronicled the home-buying process.
“Buying a house is one of the most emotionally stressful processes you will ever go through,” Johnson said. “That’s why it’s very important that you understand the process, because it’s very complex and in-depth.”
In her presentation on available relationships between realtors and other agencies, Johnson warned against predatory lending, calling some real estate agents, banks, title and insurance companies “piranhas.”
“You all are treated like a salmon being put in a pool full of piranhas,” Johnson told patrons. “Everyone just wants their little bite off of you. They don’t care how you’re left standing.”
Some, she said, through sub-prime home loans (a loan with an extremely high interest rate, usually because of poor credit) may be left standing without a home in six months to one year, the result of formulaic foreclosure.
Johnson said after her own bad experience with homeownership, she made the promise that, when she became a realtor, she would show potential homebuyers the victimless way to homeownership.
Another session was: “Credit Counseling: How to prepare for loan approval/down-payment assistance” and “How to protect yourself from predatory lenders.” That session was facilitated by Beyond Housing/NHS and Mother’s Way/OIC.
US Bank presented “What does ‘A’ paper loan mean?” “How much money is needed to buy a home” and “What is a FHA,VA, and conventional loan.”
Conley Financial Group Insurance and Investments presented “What is homeowner insurance,” “What is hazard insurance” and “How do you pay for it.”
A patron, Stacy Richie, said, “I believe everyone should learn about the American Dream, and that’s homeownership. And I believe Mary ‘One’ and Freddie Mac offer excellent opportunities for people to get the right information. That’s so important when you’re going into a large purchase like a home. You want the right professionals and bankers to handle your business.”
