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May 29, 2002
Major Focus On Affordable Home Ownership: Employer Outreach, Second Annual Home Ownership Fair
BELLINGHAM, May 29, 2002 For the second time ever in Whatcom County, a HomeOwnership Fair will focus on local programs that help first-time homebuyers achieve the American Dream. And savvy employers see homeownership as an important employee retention and recruitment strategy.
With U.S. Census numbers showing the rate of homeownership declining in Whatcom County, the efforts to fix the problem locally could not be better timed. In Whatcom County, economic and employment trends point to a worsening housing affordability problem. Over the last 20 years, the median price for single-family homes in Whatcom County climbed, on average, 6% per year - but household income rose only half as fast. First-time homebuyer programs work to bridge the gap between home prices and wages, and employer outreach will make sure wage-earners know that bridge is there.
For example, Kulshan Community Land Trust is targeting local businesses whose employees may be eligible for their HomeBuyer Driven Program, a downpayment assistance program designed to close the gap between housing costs and the amount of mortgage plus downpayment that a family can afford. St. Joseph Hospital (contact Chris Phillips 738-6300 x 2216) and the Opportunity Council (contact Kay Sardo 734-5121 x 216) are two nonprofit businesses that make the program available to their employees. Kulshan CLT also offers HomeBuyer Education Courses to help potential homebuyers maneuver through the maze that leads to homeownership.
"Many businesses with entry level and lower wage jobs can help their employees into homeownership, and everyone comes out ahead when families and neighborhoods are more stable," said Paul Schissler, Executive Director of Kulshan CLT. "The community can keep homeownership affordable, even when prices keep climbing. The HomeOwnership Fair is another example of that community collaboration." (More info at www. kclt.org)
Several affordable homeownership nonprofits (Kulshan CLT, Habitat for Humanity, Whatcom Self-Help Homes) have teamed up with affordable mortgage lenders (Washington Mutual, Peoples Bank, USDA Rural Housing) for the HomeOwnership Fair to be held Thursday, June 6 from 5 to 8 PM at Bloedel-Donovan Park. The Fair will help anyone facing the the dilemma of making housing affordable, and childcare and food will be provided.
At the Whatcom County free event, everyone can learn about the programs offered by Kulshan Community Land Trust, Habitat for Humanity, and Whatcom Self Help Homes, and get to know the services offered by the Community Home Ownership Center. People can drop in anytime between 5 and 8 PM for food catered by Kelly's O'Deli, supervised childcare, and time to mingle with housing nonprofits and neighbors. "We've packed alot into this event," according to community planner, Paul Schissler.
The local informational event is one of many events occurring nationwide to promote homeownership activities during the sixth annual National Homeownership Week from June 3rd through 9th. The National Partners in Homeownership, a diverse mix of over 50 national organizations, sponsor National Homeownership Week and work towards a common goal - to increase the nation's homeownership rate to an all-time high.
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