Homestead Community Land Trust News

A Place Called Home: Building Stability and Health through Homeownership

By Rebecca Lane, Development and Communications Director

Last fall, Yen Baynes attended an orientation class that Laura Evans gave at St. James Place in White Center. She applied, and was surprised to find out that she was purchase-ready to shop for a home through Homestead’s Advantage program.  Yen spent the early part of 2009 looking for a home, relying on help from COHO Realtor Tonya Hennen. 

A year earlier, Yen and her young son, Alek, had been sharing a sub-par two bedroom rental with three friends, the only housing she could afford after her recent divorce. Allergies and asthma from which she had suffered as a child were triggered by the mold and mites in the apartment, and she required daily medication. Worst of all, her son was also suffering from asthma, triggered by conditions in the run-down apartment. The sacrifice of living in an unsafe and crowded apartment had seemed to be the only way she could get out of poverty before Alek reached grade school. 

After hearing Laura talk about Homestead Community Land Trust, Yen realized that the best path to her family’s stability, health, and self-sufficiency was by owning a home.

She stayed on a tight budget, saving much of her wages, and her savings were multiplied through United Way’s Individual Development Account (IDA) Savings Program*. In April, she closed on a lovely home in her neighborhood, within walking distance to many shops, only minutes from work, and on the same block as the community center where she first heard Laura speak!

Growing up in Caracas, Venezuela, Yen and her family moved frequently. Her parents grew up in a very poor neighborhood; for them, prospering for their children took precedence over stability. Her parents worked to make a better life for their family by moving, and the family rarely stayed in one place for more than a year.

Now, Yen is planning what colors to paint her living room. She and Alek are living in the same home they will be in throughout his school years. Yen is giving her son the stability she longed for as a child. She also landed her dream job working with Open Arms Perinatal Services, providing birth support and community outreach to families in the White Center neighborhood where she lives. Because her house payments are so manageable, Yen can focus on saving for the future and settling in, staying rooted in one place called home.

* IDA is administered by the United Way of King County

Directions to Homestead Office

Directions to Homestead Community Land Trust Office:

El Centro de la Raza Building
2524 16th Avenue South, Suite 300
Seattle, WA 98144

From Link Light Rail:

Get off the train at the BEACON HILL STATION - we are only a block away!
Exit the station via the elevators - you will see the large El Centro de la Raza building to your right.
Walk EAST on 16th Ave S.
The entrance to the El Centro building will be midway down the block.

From I-5 Northbound:

Take the WEST SEATTLE FREEWAY/COLUMBIAN WAY exit, exit number 163.
Keep RIGHT at the fork in the ramp.
Merge onto COLUMBIAN WAY S.
Turn LEFT onto South SPOKANE ST.
Turn LEFT onto BEACON AVE S.
Turn LEFT onto S LANDER ST.   
Turn LEFT onto 16TH AVE S.

From I-5 Southbound:

Take the W SEATTLE FWY/COLUMBIAN WAY exit, exit number 163A.
Keep LEFT at the fork in the ramp.
Merge onto COLUMBIAN WAY S.
Turn LEFT onto South SPOKANE ST.
Turn LEFT onto BEACON AVE S.
Turn LEFT onto S LANDER ST.   
Turn LEFT onto 16TH AVE S.

From I-90 Westbound:

Take the RAINIER AVE. SOUTH exit, exit number 3A.
Merge onto RAINIER AVE S/WA-167.
Turn RIGHT onto S MCCLELLAN ST. Turn RIGHT onto 21ST AVE S.
Turn LEFT onto S MCCLELLAN ST.
Turn LEFT onto 17TH AVE S.
Turn RIGHT onto S MCCLELLAN ST.
Turn RIGHT onto BEACON AVE S.
Turn LEFT onto S LANDER ST.   
Turn LEFT onto 16TH AVE S.

From Downtown Seattle by Bus:

Metro Route 36

(Downtown Seattle, Pacific Medical Center, Beacon Hill, Jefferson Park, VA Hospital, Rainier Beach )

Click here for a map of our office location.

“This is Mine!” Coming Full Circle, Coming Home

By Rebecca Lane, Development and Communications Director

David Evans has come full circle. From the brownstone in Boston in which he spent his childhood, to the beautiful new condo in a heritage building in Madison Park, David feels like he’s come home.

When David moved to Seattle, the meteoric rise of housing prices was just beginning its most recent round. While dreaming of a place to call his own, with maybe a yard for a dog, David looked and looked and looked…and then knew he had to stop looking. Despite a stable job as a full time professional chef at an upscale and well known establishment, everything was out of reach.  Recalling his childhood home, David reflected upon the similarities between Boston and Seattle. The feel of this city, the topography, its streets and neighborhood names all reminded him of home. Finding his home in Seattle had become a dream deferred.

The evening of November 19, 2008 changed everything for David. At a Homestead Advantage program information session, he decided to apply that night.  Having done his research into affordable housing programs, David knew he was a fit for Homestead, and community land trust ownership.  He qualified, and met with Tonya Hennen, his real estate agent (he calls her a Real Estate Goddess!).

Less than six months later, David has moved into his beautiful condo, with a view of the Cascades and Lake Washington. His home is the second place he saw, on the first day of shopping for a home he knew he could finally afford thanks to the Advantage program. The building is like his childhood home. The neighborhood is walkable, and he can ride his bike or take public transit to work - no long car commute. This means David will be able to stay in his enviable job for years to come, pay a mortgage at a reasonable rate, and remain protected from the vagaries of a fluctuating market.

David loves to cook classic French and Italian cuisines. Hazelnut soufflés were his most recent innovation.  He is twenty years into his profession, and is still young. Now that he’s moved in to his own home, he can follow other dreams - he’s learning to play electric guitar. He is enthusiastic about being a Homestead owner, and a part of a community of homeowners. He looks around every morning and realizes that “this is mine!” Welcome to the community David!

Homeowner Anniversaries!

Congrats to the following Homestead homeowners! Some are celebrating their first anniversary as homeowners, others their third or fourth, and one is Homestead’s very first homeowner, celebrating her seventh anniversary! All of them deserve a big thank you for their partnership with Homestead and their commitment to stewarding affordability for future homeowners!

JANUARY
Nurri Omer and Ayalnesh Gesese

FEBRUARY
Ezra Basom
Tina Lathrop     
Chris LaRoche

MARCH
Amy Larson
Michael Smith and Willow Kelly

APRIL
Brian Allen        
Nega Belay and Ariam Abadi
Peter Graff        
Mijo Lee        
Kendra Lyonais and Jay Austin
Susan Moore        
James Nail
Cuong and Loi Nguyen

MAY
Dejene Tesema and Mulunesh  Tenagne

JUNE
Ahmed Mohamed and Safiyo Elmi
Fawn Proctor
Janna Wachter

Welcome Home!

By Kristin Bolken, Development & Communications Director

Susan Moore and son, Liam are new to the Homestead community in 2008.  Susan is a self employed acupuncturist and Liam attends the 4th grade in Seattle. 

After her divorce 6 years ago, Susan really felt like homeownership was completely out of reach.  Two years ago, as a renter, concerned about family stability, neighborhood involvement, ensuring Liam was able to remain in a familiar school, and with a eye toward community building, Susan began to assess her options and opportunities.  She researched local co-housing groups and a community land trust on Vashon Island.

Through this process a friend connected Susan with Homestead Community Land Trust and she soon came to the conclusion that “this is my opportunity to buy a home!”  Susan attended a Homestead Informational Session and met individually with Laura Evans, Homestead’s Homeownership Program Manager to complete an affordability assessment.  Susan shared that the process was somewhat complicated because she owns her own business but that she felt supported every step of the way.

“This is such a great program for so many people,” Susan said.  “The program is geared toward middle income people, which you don’t often see,” she commented, “I was worried, initially, that I would not qualify for a program because my income was not considered low enough.”

“I feel very grateful,” Susan said, “this program can help stabilize families in such a big way.”  Susan’s newly constructed two-bedroom townhome is close to work and Liam was able to remain in the same school.  ‘

Liam, age 10, says it’s exciting to have a new home.  “Liam’s room is this really cool loft bedroom with a great view of the mountains,” said Susan.  “Liam really likes it and feels great about his new home.”

Susan is strongly committed to the community land trust program model.  “People are so financially stretched now,” said Susan.  “There is so much stress in our culture and we are so geared toward materialism and having more.” 

"I feel very fortunate to be in a community land trust home, given the current economic crisis in our country." she said. "I can afford my home and have a safe stable mortgage product. Going into this I knew the 'housing bubble' wouldn't last and wanted to be able to survive an economic crisis. With Homestead I feel confident and secure."

Susan recently heard author Riane Eisler speak at Seattle’s Town Hall and felt so satisfied with her decision to purchase a land trust home while she was listening. Eisler recently wrote, “Surely we in this wonderful nation of ours can muster the will to use our creativity and initiative to create a caring economics, a system that works in the long run, that works for us all, that works for generations still to come.” In so many ways this sums up a community land trust.

Congratulations, Susan and Liam and welcome home!

Summer Fun - In Community

This summer, Jane & Luke Fairchild graciously hosted Homestead’s annual homeowner picnic at their Rainier Beach home.  Jane and Luke were the 8th family to purchase a Homestead Community Land Trust home.

The picnic was a great opportunity for homeowners to gather, share stories and resources.  It was also a fantastic opportunity for Luke and Teyo to experiment making mud pies in Jane’s back yard!

A special thank you to The Field Roast Grain Meat Company and David Lee who donated Apple Sage Sausages for the BBQ — they were amazing!  Thanks, Jane and Luke for your hospitality, and thanks to all of Homestead’s homeowners for sharing a dish at the potluck.  It was a beautiful, sunny Seattle day!

Check out the picnic photos.

Another CLT Benefit: Protection of Homeowner Equity

By Laura Evans, Homeownership Program Manager

Homeowners who purchased with assistance provided by Homestead Community Land Trust enjoy a little more peace of mind in today’s struggling housing market.   While traditional homeowners who purchased their homes at the peak of the market have seen their equity erode, buyers using Homestead’s program have their equity investment protected. 

The chart below illustrates a comparison between buyers using Homestead’s program and a traditional buyer. In this scenario, each purchased a $300,000 home in 2005 and each needs to sell in 2008. Their home values have fallen to $290,000. The Homestead seller preserved their original downpayment investment in the property, and grew their assets slightly. The traditional seller lost their original downpayment and lost an additional $30,000 of assets. 

                                                    Homestead      Traditional
                                                    Buyer               Buyer

2005 Home purchase price              $300,000           $300,000 
Closing costs                                  $   8,000           $  12,000 
Cost to purchase                            $308,000           $312,000 
     
Homestead contribution                 $100,000           $    - 0 - 
Cash Downpayment                        $    6,000          $    6,000 
1st Mortgage @ 6% interest            $202,000           $306,000 
     
Home sales price (2008)                $208,000            $290,000 
Mortgage payoff amount                $194,090           $294,380 
Realtor commission (6%)                $    - 0 -             $  17,400 
Other seller costs (3%)                   $    6,240           $    8,700 
Cash to seller from sale                 $    7,670          -$  30,480 
     
Seller change in assets                $    1,670       -$  36,480 

This is another reason why CLT homeownership is an excellent pathway for families seeking a home of their own and a safe, secure way to build equity.

Join the Conversation!

Seattle Times' Aubrey Cohen's blog discusses homeowner equity protection. 

Homeowner Story

By Ezra Basom, Homestead Homeowner #24

I grew up in Seattle, coming of age in the early nineties, and with my own maturity, the city grew up alongside me.  That cute street on Queen Anne, where my mom still lives, is a microcosm of what’s happened in Seattle.  Where small houses were torn down to make way for large houses, and the reasonably priced bungalows, once the homes for middle incomes, now suitable for those making six figures. 

Working for the past decade in the civic sector hasn’t put me on a track for big money.  I’m making a good living working for a non-profit, but my modest salary is laughable when it comes to even imagining owning a house.  It is within this context that I can tell so many people with pride about this tax-payer assisted program, that has enabled me to buy a house of my own, and where my home, should I ever move, will be permanent affordable housing forever.  When folks I talk to learn that Homestead is just getting its wings, there’s a surprise that it’s not the poster child for politicians eager to solve our affordable housing crisis.

Four years ago, after getting divorced, I found myself renting a small basement apartment, for myself and my kids, who live with me for half of each week.  I didn’t know that I would stay there four years.  With young children, and the years going by, the idea of having a place, where we could live with comfort and put down some roots in a neighborhood felt so appealing, even if unattainable. 

When you’re twenty and you’re going to the community college, life is elastic.  You can move from place to place or even city to city.  Life is such a contrast when more than a decade goes by, and you’ve got two kids on the line.  Life is different when you want to start living in the present, and where you’re tired of spending your days hoping for something better in the future.  Having a place to call home is so much about that.  I don’t need to tell you that I kissed that dream goodbye – just like most people living in this city, who are too young and too poor to have caught the housing bubble while it swallowed Seattle.

At the suggestion of a friend, I attended the Homestead orientation.  I had managed to keep my credit intact, and was slowly building a modest savings.  With rent for a decent two bedroom around town averaging from steep to downright depressing, the idea of owning my own condo or townhouse took hold for me. Once I saw what I’d be saving in my mortgage payments with the combined grant from the City of Seattle and Washington State, factored in, and the mortgage being 30 year fixed, and not some slippery hands deal, I felt hopeful that for me I didn’t need to feel excluded from the city where I live and happen to have pretty much always called home.

So we’re all settled in now.  I bought a beautiful built green townhouse in the redeveloped Rainier Vista neighborhood, just blocks from the new Light Rail mass transit system and a short bike ride to Columbia City.  My boys and I love the neighborhood, designed with great urban design and in such a family friendly way.  The emotions of buying a house and moving in are hard to describe.  I think for me, having moved around so much as an adult, the idea that I could live in this house for the rest of my life is hard to understand.  But there is also a feeling of stability, knowing that this home is mine and even if I never make a lot of money, when I’m older, it will be paid off and I will have the security of having a home. 

I think home ownership has meaning when economic security can so easily slip through our fingers.  I don’t need to feel like a failure because I’ve chosen to work in an arena where my life has a focus on the community, and where I just don’t make a lot of money.  Seattle has largely become a city without much opportunity left for those between the wealthy and the poor.  Lucky for me Homestead is a program that bridges that gap, and because of that, I can feel part of this city, not through memories from a city long gone, but as an adult, living here now.

Homestead's Office has Moved

Homestead Community Land Trust moved to its new office space on Saturday, August 16th.

We had outgrown our Spruce Street office in the Central District just as the building was being prepared for redevelopment.  We are excited to join other Seattle non-profit partners at our new office space located in the El Centro de la Raza building on Beacon Hill.

Please join us for an Open House at our new office on Wednesday, September 10, 2008 from 4:30 pm to 6:00 pm.

A special thank you to all the generous volunteers who helped us move and set up our new office space!

Rebecca Andrews
Doug Bolken
Homestead Staff:  Kristin Bolken, Laura Evans & Sheldon Cooper
Esther “Little Dove” John
Scott McClay
Mark Moupoux
Scott Olmsted
Drew Paxton
Dee Taylor
Frank Video
Adam Wiener

Homestead's New Office Location

2524 16th Avenue South, Suite 300
Seattle, WA 98144

Homeowners Save the Date!

Attention Homestead Homeowners! Please save the date on Saturday, September 13th from 1:00 p.m. to 3:00 p.m. for a potluck at Jane Fairchild's (Homestead Homeowner #8) house.  Jane will be sending you an invitation with more details in the next couple of weeks.

If you have any questions or would like to help out, please contact Laura Evans, Homeownership Program Manager at 206.323.1227, ext. 111 or laura@homesteadclt.org.