April 2002 - Affordable Housing Committee

Committee Report

Carol Prigan Co-Chair
Lenora Faye Hunter Co-Chair

the Affordable Housing
committee

below are articles submitted
by both co-chairs


By Carol Prigan, Co-Chair

  Affordable housing is a niche market—and perhaps one of the largest “niches” in Central Ohio. The Affordable Housing committee is one of the largest committees at the Board and also one of the most active. We hope that you will take the opportunity to attend one of our functions this year, whether it be an education course or a roundtable meeting. Those of us Realtors® who work in the affordable housing market know the benefits are great. We want to share our knowledge and enthusiasm for this market with all Realtors®.

  What is “Affordable Housing”? Simply put, affordable housing is a price range. The Affordable Housing Committee determined last year that properties selling for $110,000 and under should be considered affordable housing. This is a change from the committee's prior stance that the price range be $95,000 and under, and reflects the change in the Columbus real estate market. The Affordable Housing committee strives to help the Realtor® community with the tools we need to do our jobs well in this price range. The committee also provides Realtors® with the opportunity to serve the community in general by sponsoring Home Buyer Information Nights, a booth at the Minority Home Ownership Expo, and other activities in the community.

  One very popular way the committee serves the Realtor® community is by sponsoring continuing education courses open to any Realtor® who wishes to gain knowledge in the particular topic being offered. Past courses have included the very popular “Train the Trainer” course that teaches Realtors® how to present home buyer seminars and “Affordable Housing Financing” which covers a broad range of financing options for buyers. Coming up on June 12, 2002 will be a three-credit hour course entitled “Bidding on HUD Homes”. Other courses are being planned by the Education subcommittee of the Affordable Housing committee. Please check your In Contract magazine for more information as it becomes available.

  The committee also awards the Certified Affordable Housing, Realtor® (CAHR) certification to qualified Realtors®. The Certification and Promotion subcommittee reviews all applications and makes recommendations to the Affordable Housing committee for approval. We invite Realtors® to apply for the certification who believe they have the appropriate experience in affordable housing sales, education, service to the Realtor® community, and service to the general community with housing issues.   There is an application which must be filled out and requires documentation of continuing education courses completed. You can obtain the application from Lynn Hackworth at CBR (614-475-4000 x248) or contact me at (614) 818-7682 for more information and an application.

  The Certification and Promotion subcommittee is also studying ways the Affordable Housing committee can “get the word out” more effectively to our membership and the public about what the committee does. We can use your help, too! If you have attended any of our education courses, roundtables, or other functions in the past, please join us again and tell your colleagues! The subcommittee is also looking into more effective use of our space on the CBR web site. Your suggestions are welcome. Please contact me (614-818-7682) with any comments or suggestions.

by Lenora Faye Hunter, Co-Chair

  When I joined the Affordable Housing Committee five years ago, I had no idea what it was all about. A co-worker of mine said “Why don't you come with me to the Affordable Housing Committee meeting. You'll like it because you like helping people.” I went and listened and helped wherever I could and I enjoyed all of the projects I worked on.

 The Cooperative Ventures for Consumer Services Subcommittee looks for projects to have the Affordable Housing Committee members lend a helping hand to other real estate related groups. This year, in April, we are once again hosting a CBR booth at the Minority Home Ownership Expo. In June, we will again offer the Home Buyer Info Nights in cooperation with HUD.

  Each month at our committee meeting we plan to have one of our members keep us abreast of special financing and activities in all regions (North, South, East and West). We are also planning to help with Habitat for Humanity. The first Saturday of each month we will be taking a bus tour of the homes currently under construction and then tour the Build It Again Center, which is a non-profit organization ran by Habitat. During the summer we are planning to help Habitat with their anniversary house. We will be doing a variety of jobs such as dry walling, painting and landscaping to name just a few of the tasks.

  President George W. Bush has encouraged all Americans to serve their country for the equivalent of 2 years or 4,000 hours over their lifetime. With the many volunteer services our committee provides we are well on our way to meet if not surpass this goal.
  The Affordable Housing Manual Subcommittee has recently released the new and improved Affordable Housing Manual that is now available for purchase through the CBR Member Service Center. For only $10.00 members can pick up a 48-page manual complete with profiles of the affordable lending programs available through area lenders, requirements for qualification, types of properties that can be purchased with each program and the names and numbers of contacts. The manual also includes the affordable financing programs available through HUD, Fannie Mae, the City of Columbus and the Ohio Housing Finance Agency as well as information on homebuyer education and credit counseling. This subcommittee will be updating the manual and working towards an Affordable Housing Link on our CBR web site.

  The Affordable Housing Roundtable Subcommittee oversees the monthly Affordable Housing roundtables. The roundtable meets on the second Thursday of each month at 1:00 p.m. at the CBR, 2700 Airport Drive. Several roundtables have been approved for one hour of CE credit. The cost to attend the roundtable is $2.00 or $7.00 for sessions if the CE credit is desired. Look for information about the Affordable Housing Roundtable and its topic of the month on the CBR web site.

  The topics for this year include Marketing, Basic Building Codes for the City of Columbus, ‘203K buyers, Modular and Manufactured Homes, Auctions, Predatory Lending and Working with Multicultural Buyers.

  It's going to be an exciting year with the Affordable Housing Committee. By being an active member you will have a deeper and richer experience in real estate. As John F. Kennedy said, “Ask not what your country can do for you, but what you can do for your country.” In this committee you will be a point of light to many buyers who thought they never had a chance of obtaining the ‘All American Dream' of being a homeowner.