Newark residents get expert advice on property ownership at housing summit
A second event will be held on Saturday, April 22nd at Newark City Hall.
by Vince Baglivo | April 21, 2017
The City of Newark recently convened experts to deliver home buying advice recently to a packed room of more than 100 people at St. John’s Community Baptist Church on Bergen Street. The response to the 2017 Newark Housing Summit was so overwhelming, the city will repeat the session at Newark City Hall on Saturday, April 22nd from 10 a.m. to 4 p.m. Registration is free.
Presentations about the Homestead auction program, foreclosure prevention, mortgage loan products, a credit repair class, a developer workshop, the Home Buyer Ready program and tax abatements were highlights of the summit.
The free event, presented by the City of Newark, the Department of Economic & Housing Development and the National Association of Real Estate Brokers (NAREB), and hosted by the Bergen-Lyons-Clinton Special Improvement District (BLCSID), drew a full house of 115 potential property owners, including individuals interested in purchasing a new home and developers seeking investment opportunities in the state’s largest city.
Franklyn Ore, Housing and Real Estate Division, City of Newark, provided the opening remarks. Reverend Phillip Gilmore, Pastor of St. John’s and President of the BLCSID, offered an opening prayer and discussed the SID’s mission. Other speakers included Baye Adofo-Wilson, Deputy Mayor and Director at the Department of Economic and Housing Development, and South Ward Councilman John Sharpe James.
Ore noted that the event was more than just an opportunity for vendors to push their products: it included six different panels conveying information to Newark residents to empower them regarding opportunities to purchase a home or invest in real estate in the city.
“At a time of real population growth, when potential buyers can take advantage of existing low prices and programs to support their investment, it is critical that we engage with our communities throughout Newark,” he added.
Jean Skillern, a licensed real estate agent from Destiny Realty, Inc. in Newark, said one of the biggest misconceptions is the belief that people need a lot of money up-front to purchase properties. “From assistance with mortgage closing costs to down payments, there are programs in the City of Newark and through lending institutions that can help people achieve their goal of home ownership,” Skillern stated. “As real estate professionals, if we can help people understand that they can purchase property, we have served our purpose.”
“We are investing in the communities we serve, focusing our commitment here in the City of Newark to help all who dream of home ownership to achieve their goals,” said Jacqueline Gibbs, Affordable Lending Relationship Manager for Chase Bank.
“Our district has many ownership opportunities available, and we want a community that is owned and operated by local residents and stakeholders,” concluded the BLCSID’s Pastor Gilmore. “Cooperative economics and investment, along with our focus on clean, safe and welcoming streets, is key to making the South Ward the ward of choice in the City of Newark to live, to work and to invest.”
For more information or to RSVP, call 973.923.6200. For more information about programs and services provided by the BLCSID, visit southwardsid.com or follow news from the district at facebook.com/southwardsid.
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