June is National Homeownership Month!

A FOUR-POINT STRATEGY TO REVIVE HOMEOWNERSHIP

It’s not looking good for homeownership these days. According to the U.S. Census Bureau, 63.7% of households owned their homes at the end of 2016, down from a peak of 69.2% in 2004. While there have been small increases in recent quarters, the homeownership trend since the financial crisis continues to veer downward. We need to reverse this pattern, and these four strategies will help.

First, we have to demystify the process. 

More than two-thirds of adults in an Oct. 2016 national household opinion survey from NeighborWorks America described the homebuying process as complicated. Our network’s counselors report that a common refrain from customers they help to achieve homeownership is, “I never thought I could do this.” Because the purchase process is so complex, many potential homeowners don’t even try, essentially self-selecting out of their piece of the “American Dream.” 

Increasing the homeownership rate in New Haven, CT will energize the local economy and create jobs from construction to retail.

Second, we have to return to rational credit standards.  

 

We return to the loose underwriting of the early 2000s. However, right now, credit standards are too tight and thus reduce the prospects for homeownership for many. A recent article by the Urban Institute noted that innovations in credit scoring practices could help up to 3 million first-time homebuyers across the country. The lending industry must seriously pursue such modifications.

Third, we need to do a better job in reaching out to low- and moderate-income consumers.

These are the first-time buyers of the future and they are unsure about the path to homeownership. Nonprofits housing organizations have had a “field of dreams” mindset: if we’re here, homebuyers will find us. That’s not working. The NeighborWorks survey mentioned above also found that fewer than 10% of consumers think of nonprofit’s like Neighborhood Housing Services of New Haven first when considering how to achieve homeownership. Our organization and others working to increase homeownership, especially among first-time buyers, need to behave more like businesses and seek out these types of customers. Word of mouth isn’t enough.

Fourth, we must overcome financial obstacles. 

Home prices are increasing in nearly all markets. Here in New Haven, the median price is approximately $160,800, and the stereotypical 20% down payment is out of reach for most first-time buyers. However, the truth is, consumers don’t need a 20% down payment to purchase a home these days. In some cases, just a 3% down payment is required. However, not every lender offers flexible mortgages. 

By working with Neighborhood Housing Services of New Haven and other housing nonprofits, consumers will learn about the lenders who offer 3% down-payment mortgages. In addition, they also will be made aware of the potentially millions of dollars in down-payment assistance funds available in this community and others. The NeighborWorks survey showed that only one-third of consumers are aware of down- payment programs for middle-income buyers. 

While there isn’t an unlimited supply of down-payment assistance, if more consumers knew to seek it and sought information from nonprofit organizations, the homeownership rate would increase. That’s good for individuals, families and Greater New Haven.

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Meet the Instructor: Leslie Radcliffe!

NHS of New Haven is proud to announce our Inaugural Environmental Leadership Series! 

Learn about the environment and your neighborhood, connect with useful resources and people, and aspire to create your own environmental projects.

This year's workshops are as follows:

June 13, 2017: Climate, Health, and Neighborhoods
June 20, 2017: Home Energy-Efficiency, Going Solar, and Other Renewable Solutions
July 11, 2017: Planning a Project
July 18, 2017: Water in Your Home and Neighborhood
August 1, 2017: Talking Trash, Managing Waste, and Greening Neighborhood Spaces
August 8, 2017: Transportation Matters and Project Showcase

Leslie Radcliffe will be facilitating our third workshop on Planning Your Project!

Leslie Radcliffe is a life-long resident of New Haven. Her association with NHS began almost two decades ago when she began her journey to become a homeowner. In addition to attending financial literacy workshops, first-time homebuyer seminars, landlord classes, and resident leadership programs at NHS, Leslie has attended two Community Leadership Institute national programs, completed the New Haven Citizens Academy, graduated from the New Haven Democracy School, and is certified member of the Community Emergency Response Team. Active in service to her community, she worked with other residents, Urban Resources Initiative and New Haven Land Trust to establish the Truman Street Community Garden and Greenspace; is a Board member of the City of New Haven City Plan Commission; holds a seat on the New Haven Farms Community Advisory Board; serves as Secretary on the NHS Executive Board; reactivated the Truman Street Block Watch; participates in her District Management Team; holds office and serves faithfully in her church; and is a devoted mom and grandmother. She advocates for her community by working with residents, municipal and non-profit agencies, and other stakeholders for the betterment of her neighborhood and community. Her outlook on neighborhood improvement is ‘we may not be able to change the world but we can start right where we are ... yard by yard, block by block, street by street, neighborhood by neighborhood …’.   

His previous work included community organizing, human rights, youth leadership development, public health, and homeless support.

APPLY TODAY!!

Participants must attend at least five of the workshops listed above. 

Sessions will be held from 6pm-8pm at NHS of New Haven. Dinner will be provided. 

Visit our website to apply today! 

The application, as well as $20 registration fee, is due by June 6, 2017!

April is Financial Capability Month!

Emergencies don’t have to be financial disasters; start saving now! 

You’re laid off at work. Your car needs a new transmission. Your furnace blows. These are all costly emergencies that can’t usually be anticipated and cannot be avoided once they occur. Without a fund set aside just for such emergencies, they can trigger even greater disasters.

Last year, NeighborWorks America released the findings of its third annual consumer finance survey. Chief among them is the alarming fact that nearly a third of adult Americans (29 percent) have no emergency savings. Ninety-one percent of those with incomes of $100,000 reported holding emergency savings, compared to just 30 percent of who earn less than $20,000, 63 percent of those with incomes below $40,000 and 78 percent of those with incomes between $40,000 -$50,000.

A good rule of thumb is to have enough funds set aside to cover three to six months (some say four to seven) of living expenses. This will give you enough time, for instance, to find a new job or supplement your unemployment benefits until you do. However, anything in the bank is better than nothing — and $500 will get you out of many scrapes that would otherwise put you in the hole. In other words, start small if you have to, but start.

Here are a few tips:

Set up a savings account just for this purpose. Separate it from the accounts you tap into on a regular basis so you’re not tempted to dip into your reserves. Do not get access to it via debit card. And if you are issued a checkbook, hide it.

Arrange the automatic deposit of a portion of your paycheck into that savings account. Most employers allow direct deposits into multiple accounts. This is the most painless way to create a regular savings habit; you won’t even notice it! But make sure you’ve created a realistic budget. Otherwise, you’ll be pulling money out of savings regularly to pay bills, defeating the purpose.

Keep the change. When you get $1 and $5 bills after breaking a $20, drop some in a jar at home. When the jar fills up, move it into your savings account. And if you have money left after paying your bills at the end of a pay period, move some into your emergency fund.

Save your tax refund. The average refund is in the thousands, which can give a good boost to your emergency savings. When you file your taxes, consider having your refund directly deposited into your emergency account. Alternatively, adjust your W-4 tax form so that you have less money withheld, and direct the extra into your emergency fund.

Cut back on costs. If you’re still falling short on saving, track your spending for a month to find discretionary expenses you don’t really need. Meals out, stops at coffee shops, drinks with friends all add up fast, but you may not realize how much you’re spending in total until you’ve put it on paper. Remember: Expenses you should be able to anticipate, such as holiday gifts and annual auto insurance payments, are not emergencies! One of the most common problems people have with emergency funds is forgetting to plan for one-time expenses each year.

Remember: NHS of New Haven housing specialists offer financial education and coaching to help you follow these guidelines. Emergencies are upsetting enough. Don’t allow them to turn into financial catastrophes as well.

It's That Time of Year Again...Are You in the Mood to Buy A Home?

NHS of New Haven is committed to ensuring that each and every prospective homeowner goes into their purchase with their eyes wide open. Understanding the mortgage process, understanding your numbers, understanding everything that comes along with being a homeowner is what we teach best!

For a quick guide, check out this graphic created by NeighborWorks America. Or click on the  If you have any questions, you can reach out to any NHS staff member and we'll be happy to help!

 

NHS of New Haven is a NeighborWorks America chartered member. 

Newsletter! December 2016

A Great New Haven Event!

NHS Workshop With SeeClickFix

written by Vishakha Negi

Members of the audience were prompted to
answer a few questions about their community,
the first of which was why they cared about it.

Why do we care about our community? 
The answer may seem obvious. We live there. Some of us work there. It's where we were raised and want to raise our children. At the SeeClickFix workshop co-hosted with NHS on June 23^rd, however, even more answers materialized. People cared about the impact their community could have on the larger environment, the availability of essentials like groceries and jobs, and the implications it could have for future generations. These answers were a result of an activity during the workshop, which prompted a conversation about what it means to improve communities, as well as how one could go about improving them. As the name of the workshop suggests, the solution that was discussed was an app called SeeClickFix.

SeeClickFix members Nadine Herring, Andrew Johnston and Amanda Parr ran through the basics of the app. Users can share images with comments about issues in their community not only with other community members, but also the relevant authorities. As a result of this process, the issue could be quickly fixed. As an audience member aptly pointed out during the workshop, some individuals may not have smartphone access. Luckily, members of SeeClickFix assured the audience that libraries throughout New Haven would be trained to enter the relevant issues through SeeClickFix’s online platform, and so individuals without smartphones could just share their concerns at a local library. A picture would not be necessary at all – just the issue and the location. SeeClickFix is a viable platform for all individuals and a powerful tool for transforming how we see our communities and take charge of them.

The end result of a brainstorming session on why we care about our communities
and what aspects of it could be improved. Members of See Click Fix finally sorted
these responses into relevant categories like Environment, Investment, Local Pride
and Education.

NHS plans to continue with the workshops, especially because this one was so well-received by both participants and facilitators alike. 

Here is an excerpt from a blog post, which SeeClickFix wrote about the workshop:

“At SeeClickFix, we are grateful for the privilege to work alongside Neighborhood Housing Services and the actively engaged residents and governments dedicated to taking pragmatic steps towards improving their towns and cities. We are dedicated to providing a platform where all voices are given a chance to be heard, where respect is shared and communicated, and where education inspires engagement, awareness leads to involvement, and initiative generates change.”

We are truly lucky to have these opportunities to partner with SeeClickFix. By working together, we are able to better address the issues that affect quality of life in the community.

Community Event!

NeighborWorks® Week 2016: Creating Opportunity to Learn

Thursday, June 9, 2016:

Day 7 of our NeighborWorks Week activities -- Creating Opportunities to Learn! NHS worked with the Urban Resources Initiative on Sherman Parkway, planting trees to create an urban oasis!

NeighborWorks® Week 2016: Creating Opportunity to Connect

Day 5 of our NeighborWorks Week activities (Wednesday, June 8, 2016)! Creating Opportunity to Connect with the West River Watershed Coalition! 

The West River Watershed Coalition is a group of organizations and individuals working together to improve the West River.

Interested in joining? Visit their fb group page: https://www.facebook.com/groups/westrivercoalition

NeighborWorks® Week 2016: Creating Opportunity to Discover

The New Haven Energy Task Force met on June 7 in our Energy Conservation Lab. 

The New Haven Energy Task Force meets the first Monday of every month at 5:30 pm at NHS’ Home Improvement and Energy Conservation Lab. Members of the public interested in energy issues as they relate to residents and neighborhoods of the City of New Haven are welcome. For more information, please contact kfay@nhsofnewhaven.org.

In Photo: Kevin McCarthy, Paula Panzarella, Ceyda Durmaz, Kathy Fay, Henry Auer, Henry Lowendorf

Not Pictured: Esther Armmand, Brad Armstrong, Lynne Bonnett, John Dixon, Tony Dominski, Rebecca Dyson, Sarah Ganong, Annie Harper, Daniel Macri, Frank Panzarella, Matt Ranelli, Florestine Taylor

NeighborWorks® Week 2016: Creating Opportunity to Thrive

June 2, 2016: 5:15pm-8:15pm

We caught Tom Citarella on his way to prepare to teach our Pre-Closing Education class!

This class provides an overview of the range of financial and practical topics that a homebuyer should understand before completing the homeownership process. 

Interested in learning more about our classes? Visit our website: www.nhsofnewhaven.org

NeighborWorks® Week 2016: Creating Opportunity to Serve

Bike & Build is a nonprofit organization that organizes cross-country cycling trips to benefit affordable housing in the United States. In between their riding days, each group takes the time to "build" and volunteer at different organizations that promote affordable housing.

On Wednesday, June 1, NHS welcomed 30 cyclists at the intersection of Sherman Parkway and West Division Street. Once there, the group joined another 25 volunteers from the Hopkins School in a massive clean-up around Beaver Ponds Park.

The two groups transformed the strip of land by pulling weeds, planting flowers, picking up trash, and distributing mulch around the trees. It was a beautiful transformation and we encourage everyone to drive by Sherman Parkway to see all of the work that has been done!

You can find more photos of our volunteers on our facebook page.

Resident Leadership Program Graduates!

On Tuesday, May 17, NHS of New Haven hosted a graduation for our Spring 2016 Resident Leadership Program participants. We are so proud of all those who took part in the program and will become powerful leaders and advocates in their communities. 

About the Resident Leadership Program: 

In March 2010, Neighborhood Housing Services of New Haven launched its Building Leaders, Building Communities: Resident Leadership Program. The program was an essential element of the training and education component of our Neighborhood Revitalization Institute.

The primary goals of the program are to transfer concrete leadership skills to New Haven residents, create a space for participants to share their experiences with one another, and increase their sense of being agents of change. 

One key to achieving these goals is to start with the fundamental belief that participants and the communities they represent are assets. Oftentimes leadership programs are built to fill in the “missing gaps” in emerging leaders rather than to hone the strengths they already possess or allow time to build confidence and skills. This program aims to change that paradigm.

Based on a curriculum developed in conjunction with our national partner, NeighborWorks®America, the program consisted of five units: 

One: The Art and Science of Leadership

Two: Mapping Community Assets

Three: Understanding Power for Community Change

Four: Planning Successful Campaigns

Five: Leading Great Meetings

We are so proud of our graduates! 

RtL: Stephen Cremin-Endes (NHS), Anthony Carter (Graduate), Adam Rawlings (NHS)

RtL: Stephen Cremin-Endes (NHS), Bridgett Williamson (Graduate), Adam Rawlings (NHS)

RtL: Stephen Cremin-Endes (NHS), Clarence Phillips (Graduate), Adam Rawlings (NHS)

RtL: Stephen Cremin-Endes (NHS), Keith Greene (Graduate), Adam Rawlings (NHS)

RtL: Stephen Cremin-Endes (NHS), Gricel Aguilar (Graduate), Adam Rawlings (NHS)

RtL: Stephen Cremin-Endes (NHS), Kathy Fay (NHS & Graduate), Adam Rawlings (NHS)

RtL: Stephen Cremin-Endes (NHS), Kelsie Newsom (Graduate), Adam Rawlings (NHS)

RtL: Stephen Cremin-Endes (NHS), Letitia Charles (Graduate), Adam Rawlings (NHS)

RtL: Stephen Cremin-Endes (NHS), Mark Griffin (NHS & Graduate), Adam Rawlings (NHS)

RtL: Stephen Cremin-Endes (NHS), Monica Edgerton (Graduate), Adam Rawlings (NHS)

What's next for some of our graduates? 

In October, 2016, six residents with accompany two members of the NHS of New Haven staff and board to the Community Leadership Institute offered by NeighborWorks® America in Columbus, Ohio. This four-day event is a gathering of more than 1600 neighborhood residents from 200+ organizations, at which participants learn, share, and celebrate struggles and success in community stabilization and revitalization.

Neighborhood Clean Up Event!

Volunteer Planting Event!

On Saturday, April 9th, there will be a volunteer planting event and celebration of the Pond Lily Dam removal!  
Please contact Annalisa Paltauf (Apaltauf@savethesound.org) with any questions and to RSVP.