|
Inkster: Housing fair explains buying 101
July 21, 2005
BY MELANIE D. SCOTT
FREE PRESS STAFF WRITER
Sharon Jackson has considered buying a home for more than three years, but each time she works up the nerve to go to an open house
or check out a new housing development, she backs out.
"I'm worried that I won't be able to afford what I like," said Jackson, a 31-year-old mother of two who lives in Wayne.
So to get over her fear, Jackson attended the Inkster Housing Fair last week, which gathered mortgage experts, Realtors and developers
under one roof.
"My friend from work lives in Inkster and told me about the housing fair," Jackson said. "So far, I've learned a
lot" about home ownership.
Jackson was one of more than 80 people who came to the two-hour fair to learn about housing opportunities in Inkster and how to
qualify for a mortgage, including federal programs that assist potential home buyers.
Representatives for several companies and organizations were on hand, including Standard Federal Bank, Financial Freedom Senior
Funding Corp., the Fair Housing Center of Metropolitan Detroit, Keller Williams, Shore Mortgage and the U.S. Department of Housing and Urban Development.
"I started it four years ago because I thought it was important for people to have a place to come to learn about buying a
home," said Kimberly Faison, grants manager for the City of Inkster. "A lot of people don't know the credit requirements for home buyers, so
this works because it's one centralized place to come to find out."
One of the companies in attendance was Crosswinds Communities, a Novi-based home builder. Crosswinds is building 160 single-family
homes in a development called Country Walk on Middlebelt Road, just south of Michigan Avenue. The homes start at $130,000.
"This is our second time here, and we want to educate people because there's a lot they don't know," said Tinishia Pugh,
area sales manager for Crosswinds. "A lot of people go out to find a house before they have mortgage approval. A house is like a wedding. You have
to plan for it. You need to be preapproved -- that way you know what to look for and what you can afford."
As part of its service, Crosswinds works with potential home buyers to clean up their credit reports. The company took several
applications from people interested in its program.
Several tables away from Crosswinds, a representative for HomeLoan USA talked to several participants about what his company offers.
"Even if someone has bad credit or no credit, we find programs for them to cater to their needs. We work with state, city
and county to provide programs for our customers," said Rick Harrison, loan officer for HomeLoan USA in Detroit. "We offer down-payment assistance,
a credit preparation program, reverse mortgages for senior citizens and programs for single mothers, and those who have low income."
A few tables over from Harrison sat Ernestine Williams and her husband, Willie Williams, owners of Red Carpet Keim Will Cooperate
Inc., an Inkster-based realty. Ernestine Williams also is the president of the Inkster Chamber of Commerce.
"Inkster has a lot of affordable housing, and there are a lot of new homes being built. It's truly exciting," she said.
As an Inkster resident, Ernestine Williams said the increase in new homes is a good thing, because the city needs revitalization.
"There are a lot of people from the outside who are coming to Inkster," she said. "We're seeing more younger families."
While many of the fair's attendees were interested in buying homes, several people came to learn about mortgage programs and opportunities
to share with their own customers.
"I came to network with other agents in the area and to find out more about the Inkster market," said Kimberly Moore,
a real estate agent for Redding Associates Inc. in Lathrup Village.
The fair's success has led the City of Inkster to plan more programs for residents, including classes on credit and maintaining
a home after it is purchased, Faison said.
Contact MELANIE D. SCOTT at 248-351-3681 or scott@freepress.com |
