September 21, 2007

PDC Helps Sponsor Home-Buying Fairs

In September and October the Portland Development Commission (PDC), along with several other community partners, is sponsoring two community home-buying fairs to promote home ownership opportunities. These upcoming fairs are designed especially for the Latino and African American communities, but anyone interested in purchasing a home is strongly encouraged to attend. PDC staff will be on hand to answer questions about home-buyer assistance programs to help attendees realize their goal of owning a home of their own.

In part, these home-buying fairs are needed to address the gap in home ownership rates between whites and communities of color. According to 2005 U.S. Census figures, the gap in home ownership rates between whites and African Americans is 21 percent; for Hispanics it’s 26 percent. “Home ownership rates for Latinos and African Americans are far below the state and national average and PDC is committed to addressing these differences,” said Bruce Warner, PDC’s Executive Director. “Attending one of these fairs is a great first step to owning a home of your own.”

The following is a list of upcoming home-buying fairs PDC is sponsoring:

• Abriendo Puertas Home-Buying Fair: (link to commercial) http://www.youtube.com/watch?v=S3GzFibhnWs: Saturday, Sept. 22, noon – 5 p.m., Portland Community College, SE Center, 2305 SE 82nd (and Division), Portland
• African American Home-Buying Fair: (link to flyer)  Saturday, Oct. 27, 10 a.m. – 2:30 p.m., Emanuel Hospital Medical Office Building Atrium, 501 N. Graham, Portland

The home-buying fairs are designed to introduce attendees to an array of home-buying programs and partners who can address the challenges to homeownership.  Common challenges include having enough cash to close a loan, good credit, finding affordable homes for sale and knowing where to start.  Attendees will have the opportunity to participate in workshops, enter drawings for closing cost assistance grants, and meet a variety of lenders, realtors, other industry professionals, and non-profit service providers.

The Abriendo Puertas Home-Buying Fair will award a total of $30,000 in grant assistance to help home buyers purchase homes of their own. The largest grant will be $10,000 and four more at  $5,000 each will be awarded.  The fair will also include a Real Estate Career Forum for anyone interested in working in the real estate industry.  Professionals from the banking, real estate, title, and nonprofit industries will be on hand to answer questions. Both events are open to the general public and are free of charge.

For more information about the fairs and or workshops offered by PDC, please visit www.pdc.us/housing and click on “Featured Housing Workshops and Events.” You can also call PDC at 503-823-3400

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