Model Home..

Have you ever toured a home and just wanted to -STAY? Well, that’s how I feel every time I see 523 E. Ontario.  This home is a perfect pad for those interested in

1) City living

2) An active, concerned neighborhood- residents and association

3)Affordability

4)A home with DETAILS! CHARACTER,CHARM- (leaving all your friends envious!)

5) Large private backyard, huge party deck

6) A Walk in closet/room!

7) Coffered ceilings, multiple fireplaces

8)A renovated home- ready for your touch but no major work needed

9)Close to BeltLine

10)Applicances!

11) Paved SIDEWALKS!!!

12) Clawfoot tub

13) much more- a MUST SEE..

I’m looking for a reason to go back and “gush” over this home. Let’s tour it together today! List price 165K

Employer-Assisted Housing Can Be the Answer

Rising home prices, increased housing costs, and today’s tightened mortgage market have put homeownership out of reach for many working families.

In fact, nearly 40 percent of Americans believe there is a shortage of available affordable housing, according to a recent survey by the NATIONAL ASSOCIATION OF REALTORS®.

The survey also found eight out of 10 Americans believe that having enough money for down payment and closing costs is an obstacle to purchasing a home. Another 69 percent think it’s difficult to find a home that they both like and can afford.

To promote more affordable housing solutions for the nation’s workforce, hundreds of housing advocates from across the country are coming together Monday for the first-ever conference on employer-assisted housing benefits.

“Employer-Assisted Housing: Bring Workers Home” is taking place in Chicago at the InterContinental Hotel. The conference will highlight case studies of successful EAH programs from public and private sector employers and local governments and allow key stakeholders to connect and explore opportunities to work together to help increase awareness about EAH benefits.

“REALTORS® build communities and care about the lack of housing opportunities available to America’s low- to moderate-income working families, many of whom can’t find affordable housing near their workplace,” says NAR President Dick Gaylord.

The conference keynote speakers are national housing consultants Beverly Barnes and Beth Marcus; Sharon H. Douglas, vice president of human resources and chief people person, Aflac; and Carl Guardino, Silicon Valley Leadership Group.

NAR is sponsoring the event in partnership with the Chicago Association of REALTORS®, Illinois Association of REALTORS ®, Metropolitan Planning Council, National Association of Counties, National Housing Conference and the U.S. Conference of Mayors.

Source: NAR

Affordability Effort at Risk of Backfiring

Some real estate experts and economists are determining that the government’s plan to provide affordable housing is a bad idea.

The program, which passed Congress a few weeks ago, offers local governments $4 billion to buy, repair, and resell homes lost to foreclosure. Real estate experts and economists point out that the government will now be competing with lenders and private homeowners who have been struggling to sell in a depressed market.

In California, for example, most of the foreclosed homes are in areas such as the Central Valley, the Inland Empire and the Antelope Valley, locales known for their large stock of low-cost housing. If anything, these areas are becoming more affordable because of foreclosures, and sales have picked up in large part because of the availability of these homes at discount prices.

“Those foreclosures are being purchased at a very rapid rate, and they are going to families who have been previously price-excluded out of the market,” says Mark Boud, a consultant who runs Real Estate Economics in Irvine.

In Palmdale and Lancaster, among the state’s cities with the highest percentages of foreclosed homes, Joe Mayol, an associate with Keller Williams, says he’s selling foreclosed homes at the rate of five a week.

“One comes on the market, and it’s gone seven days later,” Mayol says.

“Things are starting to turn around,” says Pamela Vose, chief executive of the Greater Antelope Valley Association of REALTORS®.

“I think if the government had wanted to buy homes a few months ago, maybe it would have helped, but if they’re going to start six months from now or later, it can only hurt.”

Source: Los Angeles Times, William Heisel 8/20/08

N.J. Passes Strict Affordable Housing Law

Since New Jersey’s controversial Mount Laurel Decision in 1975, in which the state’s courts said every community has a responsibility to provide affordable housing, many communities have gotten around the requirement by paying other towns to take on their affordable housing obligations.

This week New Jersey Gov. Jon Corzine signed into law a requirement that every town in the state provide housing within its own boundaries for low- and moderate-income residents.

The reform was backed by a coalition of affordable-housing advocates and religious leaders. It was opposed by many, including urban mayors who said they would lose the money that flows from the agreements. That money helps pay for rehabilitating homes or building new stock in poor communities.

David Rusk, a housing-policy consultant and a former mayor of Albuquerque, N.M., said the new law gave New Jersey the “most comprehensive” affordable-housing laws in the nation.

Source: Philadelphia Inquirer, Jonathan Tamari (07/18/2008/)