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$50 Million Commitment Signed to Increase Black Homeownership

black homeownership

 

Homeownership for all people is at the forefront of the work I do and increasing Black homeownership is pivotal to that work.  With Black’s at 41.7%, trailing non-Hispanic White’s at 73.1%, the gap continues to widen, and my focus continues to narrow on closing it.

This is one of the many reasons I am proud to be a member of the National Association of Real Estate Brokers who continue to champion 2 Million in 5 Years (2Mn5), the program to increase Black homeownership by 2 million people.  In keeping with that spirit, NAREB has signed a Memorandum of Understanding (MOU) with United Security Financial, a minority-owned mortgage company that will provide $50 million in down payment assistance to black homeowners!

These funds will provide much-needed assistance to those who may not otherwise have access to financial resources to purchase a home across this county. This fund is available for down payment assistance in the next 12 months for those looking to purchase a home and work with a Realtist, such as Bascomb Real Estate Group to support you in finding your new home!  Click the link to read about this groundbreaking project and contact us today!

Posted in: Black Homeowners Campaign

National Association of Real Estate Brokers: 2Mn5 Black Homeowners Campaign!

National Association of Real Estate Brokers
2MN5 BLACK HOMEOWNERS CAMPAIGN

National Association of Real Estate Brokers 2 million black homeowners in 5 years (2Mn5) continues to be high on my agenda. Through 3rd quarter 2018, we helped 8 new black homeowners in King & Pierce Counties! With 5 additional families upgrading and/or downgrading their homes with new purchases!

We are committed to fair housing for all and have helped to increase overall homeownership in the region with families of many other ethnicities!  Homeownership is the number one vehicle for stability and wealth building in this country, with a family’s primary home being their number one and most valuable asset.

With fall upon us and a stable real estate market, now is the time to continue the trend of increasing homeownership in the region, particularly among black families. We are committed to our community.

So, contact Bascomb Real Estate Group and National Association of Real Estate Brokers to count yourself a new homeowner in 2018-2019 and one of the 2Mn5!

Posted in: Black Homeowners Campaign

State of Housing in Black America

The National Association of Real Estate Brokers celebrated 71 years of amazing housing advocacy work and commemorated 50 years of the Fair Housing Act this past weekend in Atlanta, GA. The energy was palpable as we discussed the work that still needs to be done to ensure Democracy in Housing for all, especially the state of housing in Black America!

housing in Black America

Present at the conference were civil rights icons Xernona Clayton and C.T. Vivian, and fair housing stalwarts Henry McKinley ‘Mickey’ Michaux and William T. Robie. The conference was 3 days of energized conversation and practical next steps to ensure we are not having the same conversation in 50 more years. Because make no mistake, we are actually worse off than before. Prior to the passing of the FHA, black homeownership was at a low of 42%.

What is really the problem?

As of the first two quarters of 2017, the rate was slightly over 42%*. The question was asked, was it really legislation that needed to be changed? Or the mindset of our society and the persistent engrained racism that perpetuates itself in the disenfranchisement of an entire race of people? That was a question that I had never pondered. Yes, we need laws in place to ensure racism is dealt with on a federal and local level. All things considered, changes really need to happen in the hearts of people. These numbers clearly reflect this. Also, even with laws in place, the numbers haven’t changed. Even with laws in place for 50 years, we have seen no significant change. 

Read the State of Housing in Black America, this report gives a clear picture of the history of the state of black housing since the passing of the FHA and the many economic shifts that have affected black wealth and in turn, black homeownership. Contact Bascomb Real Estate Group for all your real estate needs, we are here for you! #2Mn5, #democracyinhousing, #bascombrealestate

Posted in: Black Homeowners Campaign

Fair Housing Amendments Act of 1988 in King County (Years Later)

Fair Housing Amendments Act of 1988

2018 has served as a pivotal year in this country’s history.  We mourned 50 years of the loss of a beloved leader, Dr. Martin Luther King Jr. President Lyndon Johnson signed into law the Civil Rights Act also known as the Fair Housing Act the same year just days after Dr. King’s murder. Fair Housing Amendments Act of 1988 was signed into law. This amendment “prohibits discrimination on the basis of race, color, religion, sex or national origin in housing sales, rentals or financing.”

Here in King County, we have seen monumental changes in housing, particularly in who owns their home and who doesn’t.  Homeownership has always been the American way to build roots; wealth; legacy; and sustainability. But, how far have we come in 50 years in our community?


This graph only reinforces the importance of homeownership in a community. Some may think it is merely about buying a home, which is true in some cases.  But, in reality, homeownership can be the single most important indicator of future health for you and your family. In what way? Just by owning your property.
The term ‘asset poverty’ denotes a household’s inability to access wealth resources that are sufficient to provide basic needs in times of emergency for a period of three months.

This month, Bascomb Real Estate Group would like to continue the conversation around the Fair Housing Amendments Act of 1988 and black homeownership in King County. We would like to talk about how we can begin a pendulum shift in our community around the barriers to reaching one of the most basic of American goals, owning your home.

Posted in: Black Homeowners Campaign, Home Buying and Selling

Black Homeownership in Pacific Northwest

black homeownership

 

As a member of the National Associations of Real Estate Brokers, I am pleased to share one of the many great initiatives currently launched by NAREB, the 2 Million in 5 Initiative (2MN5).  This initiative focuses on 2 million new black homeowners nationwide in 5 years. It was created out of a response to the State of Housing in Black America report that discusses the stark difference in homeownership rates between blacks and whites.  The current disparity (42% black vs 71% white) is yet another indicator of the inequities faced by black Americans but provides an amazing opportunity to be a part of this lofty objective proposed by NAREB.

Visit the NAREB website to learn more about 2MN5. You can read the report on the state of black homeownership and the objectives set by the organization to support NAREB’s motto of ‘Democracy in Housing’.  In addition, you can read about why an increase in black homeownership matters.  Contact Bascomb Real Estate Group to be 1 of the 2 million new black homeowners by 2023!

Posted in: Black Homeowners Campaign, Featured, Open Forum Wednesday Tagged: #realestate #seattlerealestate #seattlehomebuying

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Purposeful in providing the most personal of services, our firm is small in size by design in order to enhance the exceptional service we provide.  We are one of the premier real estate agents in Seattle Washington that prides ourselves in offering superior knowledge and skill making us the only choice for your real estate needs.

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