5Q: Brenda L. Marchwicki

 / PBN PHOTO/TRACY JENKINS
/ PBN PHOTO/TRACY JENKINS

1 You are a past chair of the R.I. Department of Business Regulation real estate commission. In what ways does government affect the real estate industry?

Lending rates, the mortgage-interest deduction, flood insurance – all are current issues that affect hundreds of thousands of present and potential homeowners, so it’s imperative that our profession stays on top of any changes that could hurt (or help) our customers. Fortunately, government agencies look to the housing market as a barometer of economic conditions. As the experts in the field, we are often sought out as a resource by legislators.

2 You have held several leadership positions in your career. How is real estate a supportive industry for women in particular?

Our industry is not geared toward one particular gender. Rather, it has attributes that appeal to both genders. … There is a misconception out there that you can make your own hours in real estate, which would appeal to mothers of young children, for example, but our schedule is truly at the mercy of our clients. Like any other profession, to be successful, your clients’ needs must come first.

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3 What are your concerns, if any, about rising interest rates and their effect on the market?

Interest rates ultimately will go up, but the government is very careful not to put our economy in a tailspin because it knows that when real estate is doing well, the economy as a whole is doing well. With every transaction, money is put back into the economy.

4 What are some emerging trends that you see in Rhode Island’s single-family market?

We are seeing a shortage of supply. I’m hopeful that as baby boomers put their home up for sale to downsize or move to be with family or in warmer climates, and those who regain lost equity during the housing downturn feel financially able to move again, we will see more homes available for sale.

5 Is there still opportunity in the market for residential investors?

Real estate is a great long-term investment. Where else can you earn appreciation on the full value of a property after laying out cash for only part of the purchase price, and gain shelter, roots in the community and tax advantages as well? During the downturn, an abundance of distressed properties provided a lot of opportunities to buy inexpensively, but there are still deals out there. •

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