City/Local Agency #100Homes Campaign Hits its Mark Seven Months Early
The objective of converting 100 Greensboro renters to first-time homebuyers by December 31 hit its mark about seven months early. The #100Homes campaign officially closed on its 100th home purchase more than two weeks ago, as was announced Thursday, June 13, at Housing Consultants Group’s (HCG) Annual Breakfast.
As of June 13, 140 homes have been purchased during the ongoing campaign. Of those, 60 percent were houses in east Greensboro. According to Sofia Crisp, HCG executive director, the campaign so far has resulted in close to $15.5 million of real estate purchased in Greensboro, generating about $211,000 in tax revenue.
#100Homes involved the City’s Neighborhood Development Department and HCG, a Greensboro agency the City contracts with to provide housing counseling services under its Housing Connect GSO program umbrella. This includes the City’s successfully redesigned down payment and closing cost assistance program (DPA).
The campaign is continuing, says Stan Wilson, director of Neighborhood Development, adding that the combined efforts of his department, HCG, local real estate agents and lenders proved to be a strong force in the positive results.
HCG will continue working with realtors and lenders to track Greensboro homes that are available, show them to potential buyers, and assist with the purchase of those houses.
Now, however, the name of the campaign will change to #200Homes, Crisp says.
The concept of #100Homes was the brain child of Crisp, who says the campaign evolved after working with tornado victims in east Greensboro that lost their houses. Many were spending about $800 a month for rent for substandard housing.
“We can and are helping them to do better,” Crisp says. “It’s a matter of changing behaviors and mindsets and creating opportunities. We want to help anyone own a home in Greensboro. The resources available are for everyone who is eligible.”
“The fact that many new homebuyers are purchasing in east Greensboro is proof of that area’s viability and positive future,” says Wilson.