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“We will be posting some articles of interest to provide you with more information about the homebuying process and how the QCD process can help you become a homeowner.
Articles of Interest
The U.S. Justice Department and the attorneys general of Pennsylvania, New Jersey, and Delaware on Wednesday announced a "historic" settlement
Trident Mortgage Co., which stopped originating mortgages in 2020 and admitted no wrongdoing as part of the settlement, agreed to invest more than
$20 million in serving aspiring home buyers in underserved communities.
The Racial Barriers to Owning a Home
October 05, 2022 Michaelle Bond
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The National Association of Realtors’ housing-affordability index fell to 102.5 in May
Record home prices and higher mortgage rates in May made it the most expensive month since 2006 to buy a home, prompting more buyers to give up and pressuring sellers to cut asking prices.
The home-buying experience has changed over the last generation.
Lemly with a painting of her townhouse. Her buying experience was vastly different from that of her parents, who bought their first home, a twin in Mayfair, in 1988.
mortgage lending and home buying more equitable for Black buyers
The Pennsylvania Housing Finance Agency has added to the drumbeat of calls in recent years to remove barriers and make mortgage lending and home buying more equitable for Black buyers with the release of a report Wednesday on purchasing in the state and in Philadelphia.
Articles of Interest
Foreclosure starts and bank repossessions across the country were at their highest levels in two years in March
Nationwide, the number of properties with foreclosure filings in March - roughly 33,000 - was up 29% from February and 181% from last March, according to a report by real estate data provider Attom.
Foreclosure activity hits pandemic highs
March 20, 2022 Michaelle Bond
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"It's very hard for buyers right now," especially first-time home buyers who can't use home equity from a sale to pay cash.
After dozens of showings and 22 offers in one day, a Northeast Philadelphia rowhouse left the market after two days. The house was listed at $175,000 - a popular price point. The winning bidder will pay more than $210,000.
Articles of Interest
Inequities Drive Racial Gap Among Homeowners
Black Philadelphians will need both short-term support and long-term
solutions to help them become homeowners in the aftermath of the pandemic
and as racial homeownership gaps persist, according to the Federal Reserve
Bank of Philadelphia.
Growing Gap in Homeownership For Black Philadelphians
December 13, 2021 Michaelle Bond
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Rents are Rising in the Philly Region
Early in the pandemic, a renter with money looking for a place to live had lots
of options. Vacancy rates in Philadelphia shot up as workers and students
moved out. Landlords of high-rises courted tenants with offers of a free month
or two of rent, gift cards, and other incentives.
Rent-to-Own Resolution To Give Renters Homes
Daniel Ramos was renting the Kensington home he shared with his wife and
young children when his landlord lost the property to mortgage foreclosure.
The house sold at a sheriff's sale in 2012 and ended up in the hands of a
subsidiary of the national company Vision Property Management.
Resources, training for developers
The Minority Developer Program will use public land and funding to create
opportunities for real estate projects for Philadelphia developers who have
been historically excluded in the industry.
A special city program will reach out to builders and contractors who have been underrepresented.
Michaelle Bond
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Articles of Interest
Middle Class Gets Priced Out of Homes
The dream of homeowner-ship has grown more out of reach for middle-class Ameri-cans during the pandemic.
The surge in home prices and sharp decline in the number of homes for sale have made home buying more difficult for many Americans com-pared with two years ago, ac-cording to a study from the National Association of Real-tors released Monday.
At the end of last yea
Metro areas with the most homes for sale, for annual household incomes of $75,000–$100,000
February, 08 2022 Nicole Friedman
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Pool of local homeowners is about to be increased
As Dwayne Fair's mother lay dying a decade
ago, she asked him to make a promise.
Whatever you do, she said, don't let go of the
house.
Their family had made decades of memories in
the North Philadelphia home she had rented
from the Philadelphia Housing Authority since
he was 4.
"Until my mother passed, we never even
thought about purchasing that home," Fair, 58,
said.
Residents of PHA housing benefit from a grant that allows payments to help them buy their own house.
Michaelle Bond
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Articles of Interest
Study Finds Millennials Struggle With Down Payments And Low Savings
The housing market has continued to see an influx of buyers despite the COVID-19 pandemic thanks to low interest rates However, a study conducted by Point2 revealed that millennials are struggling to acquire homeownership because of down payments and low savings.
Study Finds Millennials Struggle With Down Payments And Low Savings
October 6, 2020 Navi Persaud
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Down Payments Are Still Out Of Reach For Homebuyers
While low mortgage rates have made purchasing a home more affordable, prospective homebuyers are still finding it difficult when it comes to coming up with a down payment.
Nearly 2 Million Renters can Become Homeowners, Thanks to Telecommuting
Telecommuting is growing in popularity as more companies establish work-from-home protocols. With this new flexibility, nearly 2 million renter households could become homeowners, according to Zillow.
Nearly 2 Million Renters can Become Homeowners, Thanks to Telecommuting
September 9, 2020, 5:41 pm By Julia Falcon
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Race and Homebuying Snapshot
Black Americans are more than twice as likely to be saddled with student loan debt and turned down for mortgage loans than their white counterparts, according to the National Association of Realtors (NAR).
Race and Homebuying Snapshot
Posted By Christina Hughes Babb On February 17, 2021 @ 12:45 pm In Daily Dose, Data, Featured, News
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