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About The skanner. (Portland, Or.) 1975-2014 | View Entire Issue (April 23, 2014)
HOUSING Habitat For Humanity Portland/Metro East Seeks Qualified Homeowners Housing Programs Homeownership for the African American Community Hacienda CDC – Many Services Available in Inner Northeast Portland Hacienda CDC is a Latino Community Development Corporation that strengthens families by providing affordable housing, homeownership support, economic advancement and educational opportunities. Since 2006, Hacienda’s Homeownership Support Pro- gram has formed a central piece of Hacienda’s strategy to help families build and protect their assets. Certified housing counselors provide financial education to first- time homebuyers and work with them 1-on-1 during the home buying process. Hacienda also owns and manages nearly 400 units of affordable rental housing made available to low-income households, primarily located in the Killingsworth/Cully corridor. Five years ago, in response to overwhelming demand, Hacienda began offering free foreclosure prevention You must be willing, able to help build your own home PHOTO BY THE SKANNER STAFF The African American Alliance for Homeownership “AAAH” is a non-profit 501c3 community based alliance, comprised of housing and business profession- als. Their mission is to increase homeownership and economic stability for African Americans and other underserved individuals by improving access to home- buyer resources and education. Since 1999, the Alliance has been successful in stimu- lating home buying activities and resources through innovative programs such as: The Homebuyer Coaching Project The Annual Homebuyer Fair IDA Program (match savings fund) One-on-One Homebuyer Counseling Homebuyer Education Classes MHAC Financial Assistance Mortgage Foreclosure Prevention Find out more by going to their website at www.aaah.org/ and looking under “SERVICES.” If you would like more information about AAAH, or if you would like to sign up for a program, call 503-595- 3517. Habitat for Humanity Portland/Metro East invites low- income families to attend its bi-annual Homeownership Application Meetings. People interested in the Home- ownership Program must attend one of the four Homeownership Application Meetings in order to receive an application: Monday, May 19, 2014 6:00 p.m. - 8:00 p.m. Concordia University – Student Events and Activity Center 2811 NE Holman St, Portland, OR 97211 Saturday, May 24, 2014 9:30 a.m.-11:30 a.m. Portland Community College, Southeast Center – Rm. 139/140 2305 SE 82nd Ave., Portland, OR 97216 Wednesday, May 28, 2014 5:30 p.m. – 7:30 p.m. Midland Library 805 SE 122nd Ave., Portland, OR 97233 English and Spanish See HABITAT on page 8 See PROGRAMS on page 6 U.S. Housing Market: Few Buyers, Not Enough Sellers Homebuying trends impact rentals and affect other areas of the housing industry PHOTO BY THE SKANNER STAFF By Josh Boak The Associated Press WASHINGTON — Entering the 2014 spring buying season, the U.S. housing market faces an unusual dilemma: Too few people are selling homes. Yet too few buyers can afford the homes that are for sale. “Both sides of the equation are in a funk,” said Glenn Kelman, CEO of the real estate brokerage Redfin. A 13.4 percent jump in the average price of a home sold last year, accord- ing to the Standard & Poor’s/Case-Shiller 20-city index, hasn’t managed to coax more home- owners to sell. And combined with higher mortgage rates, higher prices have made homes costlier for first- time buyers as well as for all-cash investors. Average prices nationally are expected to rise by single digits this year. The gains could be strongest in areas with solid job growth, such as Seattle and Austin, Texas. And while construction will put more homes on the market, lack of affordability could keep sales flat to falling. On the other hand, many lenders are easing the barriers for those with less- than-sterling credit. For these people, qualifying for a mortgage could become a little easier. All of which leaves real estate, much like the rest of the economy, still trudging back to health nearly a half- decade after the recession ended. After last year’s growth spurt, the housing recovery may have begun an awkward adolescence, one prone to fits and starts that can defy predic- tions. See MARKET on page 7 April 23, 2014 The Portland and Seattle Skanner Page 5
