Proud Ground adds 100th home!
In September 2009 Proud Ground celebrated a major milestone: we added the 100th home to our portfolio of forever-affordable homes.
"Even in the current market, homeownership is less accessible than it has ever been," Executive Director Jesse Beason says." Today's generation is facing an average sales price that is more than twice that of our parents and grandparents. We are able to make home ownership a reality for many who thought they'd never participate in that aspect of the American Dream.
"Adding the 100th home to Proud Ground's portfolio means Portland now has 100 homes that are affordable today, and will remain affordable tomorrow and for generations to come. And we plan to continue adding to Portland's stock of forever-affordable homes for a good long time," Beason says.
"It's not just about affordable homes," Beason continues. "Affordable homes, with reasonable monthly loan payments - payments that are often less than what our homeowners were paying in rent - contribute to successful, stable homeowners. And Proud Ground's homeowners are successful, as evidenced by our homeowners' 0% foreclosure rate."
Cheryl Lohrmann bought Proud Ground's 100th home in September 2009, after four years on the organization's wait list, waiting for just the right time and home. Cheryl has a stable job that she loves, with the local nonprofit organization Oregon Wild. She had long dreamed of having her own place with a garden, and, as an avid bike-commuter, she wanted to live within biking distance of work. However, even though she's been working in her field for many years, Cheryl just couldn't afford a home on the open market. That's where Proud Ground came in, and now Cheryl has everything she wanted - for just $143,000.
"This Proud Ground home was a no brainer!" Cheryl exclaims. Now that she's a homeowner, she feels "grounded and relieved. All the hard work and process it took to get to this point makes sense. Now I look forward to relaxing on the front porch with friends and saying hello to neighbors, planting a garden, and having many messy cooking days in the kitchen."
A number of community partners played a role in making Cheryl's dream of homeownership come true - and in adding the 100th home to Proud Ground's portfolio:
- Portland Housing Center: Cheryl learned about Proud Ground when she took PHC's Homebuying 101 class; and she saved money for her down payment with the help of PHC's IDA program.
- Habitat for Humanity Portland/Metro East: Habitat made this home available to Proud Ground, ensuring its affordability for generations to come.
- HomeStreet Bank: A valued Proud Ground partner, HomeStreet Bank has originated 21% of all Proud Ground home loans - including Cheryl's.
- Portland Housing Bureau: An overall major organizational supporter.
