Beecher Donnelly AND CVC Urban Farm

Saturday’s clean up/ BDCA Recruitment was a success!  The weather remained cool and the clouds held back the rain.  Our resident councilmembers came out to show more than support- Ceasar Mitchell and Cleta Winslow. My daughter had a wonderful time working within the community and on the farm.

Lydia is 7 and also had an opportunity to work with the video camera. She assisted with interviewing the volunteers; I’ll try to get a copy of the footage. I encourage the residents within our communities with children to get them involved. Bring your kids to the meetings, clean-up’s and any community event. We work for their future and the best way to raise active, concerned kids is to start by making them aware of the current concerns and how YOU are helping to make a difference. Believe me, I understand how hard it is to have kids come along, sit still and be quiet at meetings- but everyone of our community organizations with NPU-T are child friendly and filled with loving patient people who UNDERSTAND! 

Here are some of Lydia’s pictures:

Lydia getting her hands dirty 🙂

Beecher Donnelly Community Association also has a usergroup and website: http://www.beecherdonnelly.com/about/  (this Association does not play!!) If you are interested in joining or volunteering for any event within NPU-T please contact me via email or phone 404-414-3289 (or check out the BDCA website and sign up)

High Gas Prices Get More Buyers Moving In

A survey of 900 Coldwell Banker associates reports that 96 percent think rising gas prices concern their clients and 78 percent say higher fuel costs are increasing buyers’ appetite for city living.

Homes in cities and neighborhoods that require long commutes and don’t provide enough public transportation alternatives are falling in value more quickly than those in more central locations, according to a May study by CEOs for Cities, a network of U.S. urban leaders.

In Atlanta, Mike Wright, an associate with Prudential Georgia Realty, says that real estate within the city perimeter has been selling better than properties outside the city, reflecting a trend of people moving “closer-in.”

In Florida, real estate professor Bill Weaver sees this as possibly the beginning of a shift to a more European approach to finding homes.

“Transportation costs in Europe have been so high for so long that they already take transportation into account when they buy a home,” Weaver says. “We’ve just been behind on that. In that regard, you might look at high gas prices as sort of a silver lining.”

Source: The Associated Press, Adrian Sainz

Top Places to Buy an Old House

This Old House magazine, is forever on the hunt for the greatest old houses. In the July issue, the magazine identifies 12 neighborhoods nationwide that it considers the best old-house neighborhoods in the United States.

The winners were chosen because of their architectural diversity, the preservation momentum in the area, and neighborhood amenities, including walkability, services, and the level of community.

The magazine also identifies

dozens of other good neighborhoods.

Here are the magazine’s top 12:

 

 

·     Centre Park Historic District, Reading, Pa.: five-bedroom townhouse can be purchased for about $60,000, a large Queen Anne for $135,000, and a mansion for less than $600,000.

·     Hampton Heights Historic District, Spartanburg, S.C.: homes range from $50,000 for a 1930s Arts and Crafts fixer-upper to $250,000 for a restored Queen Anne.

·     Galena, Illinois: a Greek Revival or Second Empire home can be bought for as little as $130,000.

·     Kempton’s Corners, New Bedford, Mass.: prices run the range in this area, starting at $180,000 and then running as high as $800,000 for a Victorian.

·     Old Louisville, Ky.: a rehabbed manse might cost about $275,000, with prices topping out at $800,000.

·     Pleasant Ridge, Mich.: prices range from the low $100,000s for a modest bungalow to more than a million for a big Colonial Revival or Tudor.

·     Victorian Flatbush, Brooklyn, N.Y.: fixer-uppers are available for $600,000 to $900,000; a restored home will run you upward to a million or more.

·     Albany, Ore.: home prices in Albany’s national historic districts range from $90,000 for a run-down Italianate to $400,000 for a fully restored one.

·     Georgetown, Texas: price tags on fixer-upper bungalows can be purchased for as little as $90,000; grander homes can run in the millions.

·     Centralia, Wash.: homes in the Edison District range from $250,000 for an 1,800-square-foot Craftsman to $600,000 for a massive Queen Anne.

·     New Castle, Del.: a brick Federal in good shape will run you $385,000, while large historic homes with river views cost close to a million.

·     Washington, Ga.: Antebellum mansions run as low as $350,000, while a 2,000-square-foot Victorian cottage might go for $130,000.

Source: This Old House online, by Keith Pandolfi, Allison Goldstein, Taryn Lonergan, and Melissa Thomas

 

 

 

Home Loan Aid Programs May Face Cuts

Nonprofits that funnel money from sellers to buyers are under attack by the Bush administration, but supporters say that these companies help thousands of middle-income people who would otherwise never save up enough to buy a home.

The Federal Housing Administration requires a down payment of 3 percent, but no-money down loans using charitable down-payment assistance grew to about 35 percent of the agency’s new loans last year, up from about 5 percent in 2001.

Defaults are higher than the FHA’s other loans. As of February, about 10 percent of borrowers receiving seller-financed down-payment assistance were either 90 or more days delinquent or in foreclosure, government statistics show.

That’s greater than the rate of about 6 percent for ordinary FHA loans, but less than the rate of about 24 percent for subprime loans made to borrowers with poor credit.

Supporters say that the programs would significantly reduce access to homeownership and some tightening of the regulations would solve problems with the program.

Source: The Associated Press, Alan Zibel

National Homeownership Month

ACE Development Corporation is celebrating National Homeownership Month with an open house (10 AM – 5:30 PM) and reception (5:30 PM – 8:30 PM) on Monday, June 30. ACE programs help renters save towards the purchase of affordable homes and guard against foreclosure. Open house seminars include such topics as reverse mortgages, down-payment assistance, how to avoid foreclosure, and housing cooperatives. Great door-prizes. Free to the public. John Birdine Neighborhood Center, 215 Lakewood Way. Call 404-627-5920 or visit www.acedevelopment.org for more info.

Please see the flyer here

Tighter Lending Stalls Housing Recovery

Rising foreclosures and tightening credit standards are making it more difficult for the housing market to recover from the current downturn than it has been for the market to rebound from previous slowdowns, according to a Harvard University study.

“Historically, housing markets recover only after the economy has entered a recession and a combination of falling mortgage interest rates and house prices have improved housing affordability,” Nicolas P. Retsinas, director of the Joint Center for Housing Studies at Harvard, said in a statement.

“It will take longer this time to rebound given the unusually high levels of foreclosures and constrained credit markets,” he said. “The slump in housing markets has not yet run its full course.”

The center predicted that income growth over the next 10 years would be constrained, reducing demand for homes. Much of employment growth will be in part-time and low-wage positions, the study said.

“The somber conclusion is that if the economy slips into recession or job losses keep racking up, household growth and homeownership demand could fall even more,” the center said in the release.

Source: Reuters News, Lynn Adler 06/23)

Hundreds Charged in Fraud Sweep

More than 400 people in the real estate industry have been indicted since March, including dozens in the last two days, in a U.S. Justice Department/Federal Bureau of Investigation crackdown on mortgage fraud.

The FBI says the scams cost home owners and other borrowers more than $1 billion.

Since March 1, 406 people have been arrested in the sting dubbed “Operation Malicious Mortgage,” resulting from 144 cases across the country. Sixty people were arrested on Wednesday alone. Officials have identified 10 “mortgage fraud hotspots” nationwide in California, Colorado, Texas, Minnesota, Michigan, Illinois, Ohio, New York, Georgia, and Florida.

Named in the cases were housing developers, mortgage lenders and brokers, lawyers, real estate practitioners and appraisers, says Sharon Ormsby, section chief in charge of financial crimes for the FBI.

Source: The Associated press, Lara Jakes Jordan 6/19