Appraisals, Last Line of Defense to Poor Lending

With the housing slump being the longest running in WNY (some may think decades), many new homeowners may find it difficult to find the home of their dreams when appraisers disagree with the values. Do not fret, this is a good thing! The purpose of an appraiser is to protect the borrower as much as the lender in terms of their investment. Yes, a home purchase is an investment for the borrower; though it is never thought of this way, a home is an investment, not only in a person's/family's future, but also in their net worth.

Have you heard the term "under-water" in reference to mortgages?

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Community Groups are the Backbone of Affordable Housing

According to the U.S. Census Bureau, Buffalo has the oldest and most inexpensive housing stock among 81 U.S. cities with at least 100,000 homes. Approximately 25,060 housing units in Buffalo are unoccupied, creating a vacancy rate of 17%; as a comparison, New Orleans has the worst vacancy rate in the study group at 21.5%.

Because Buffalo has a poverty rate that is more than double that of the U.S. average, many residents lack the income necessary to properly maintain their homes. West Side and Black Rock-Riverside NHS can help residents with issues like buying your first home, carrying out home repairs, avoiding loan scams and neighborhood clean-ups and projects!  Block clubs and other neighborhood and neighborly involvement are also great ways to stay involved and find out what’s available to you as a resident and are also well supported by the agencies.

Drop by one of our offices at 203 Military Road or 359 Connecticut Street to find out what we can do for you!

Get To Know Us Party, March 16 at 6pm!

Come get information on all our programs directly from our staff, and bring your kids! We're hosting another family party, this time at the Black Rock-Riverside NHS office.

This is a great opportunity to get information about any program that interests you, from homebuyer education to low-interest home rehab loans, to city emergency grants for things like roofs and furnaces.

To register visit our eventbrite listing or call Laura at Black Rock-Riverside NHS: 877-3910. Or just drop buy on March 16 at 6pm! We'll have pizza, snacks and activities for kids.

This Week in Buffalo Community Development

Governor Paterson said he’ll start his Sustainable Neighborhoods Project in Buffalo
Governor Paterson said Thursday he’d be launching a plan to deal with vacancy in New York, beginning with 23,000 vacant homes in Buffalo. Eric of PUSH Buffalo says in Buffalo Rising, “We are eager to work with the Governor to build a national model for sustainable community development incorporating green jobs training, green rehab, weatherization and urban agriculture.” Sounds great to us! 

Affordable lofts opened on the East Side
E Square Capital, LLC opened 43 affordable studio, one-bedroom and two-bedroom apartments in a converted former factory in Broadway-Fillmore. We don’t know much about this aside from what we read Wednesday, but at $549 for the largest two-bedroom (with heat included!) we bet they’ll get snatched up fast. 

UB Named its Civic Engagement Fellows
As part of its UB 2020 strategic plan, UB announced the first fellows for its Civic Engagement and Public Policy research initiative, which will explore social justice issues. It includes a project on food security and urban agriculture here in Buffalo. We get very excited about urban agriculture. 

Did we miss something? Let us know! Email lsweat@wsnhs.org