First Time Home Buyer Workshop in Seattle

for artists!

First Time Home Buyer Workshop for Artists
Sponsored by Artist Trust
Using “Square Feet Seattle” as the curriculum
http://www.seattle.gov/arts/space/sqft_seattle.asp

6-8pm, Thursday, January 10, 2013
Velocity Dance Center, 1621 12th Avenue, Seattle

$8, members; $10, non-members

Presenters: Libby Gerber, Artist Trust Seattle Arts and Cultural Affairs Director Randy Engstrom Wendy Ceccherelli, Owner/Broker, ArtHaven Michelle Taul, Director’s Mortgage Garbo Grossman, Homestead Community Land Trust

Agenda:
(0:00-0:10) Welcome, Introductions, Purpose of Workshop (Artist Trust)
(0:10-0:20) Square Feet Seattle: Table of Contents (Randy Engstrom / Wendy Ceccherelli)
(0:20-0:30) Chapter One – Getting Ready (Ceccherelli)
(0:30-0:40) Chapter Two – Worksheets for Buying and Leasing (Ceccherelli)
(0:40-0:50) Chapter Five – Finding Property (Ceccherelli)
(0:50-0:55) Chapter Four – Working with an Agent (Ceccherelli)
(0:55-1:05) Chapter Eleven – Ownership Models (Ceccherelli)
(1:05-1:15) Chapter Three – Credit (Michelle Taul- Director’s Mortgage)
(1:15-1:35) Chapters Nine and Ten – Residential Mortgages (Taul)
(1:35-1:50) Chapter Eight – Buying Residential Real Estate (Garbo Grossman - Homestead)
(1:50-2:00) Q&A
(02:00) Adjourn

Home Buying Workshop for Artists!

First Time Homebuyer Workshop for Artists!

Mark your calendars now!

First Time Home Buyer Workshop for Artists

Sponsored by Artist Trust

Using “Square Feet Seattle” as the curriculum

http://www.seattle.gov/arts/space/sqft_seattle.asp

6-8pm, Thursday, January 10, 2013

Velocity Dance Center, 1621 12^th Avenue, Seattle

$8, members; $10, non-members

Presenters:

Artist Trust

Wendy Ceccherelli, Owner/Broker, ArtHaven

Garbo Grossman, Community Homestead

Michelle Taul, Mortgage Lender

Agenda:

(0:00-0:10)          Welcome, Introductions, Purpose of Workshop (Artist Trust)

(0:10-0:20)          Square Feet Seattle: Table of Contents (Wendy Ceccherelli)

(0:20-0:30)          Chapter One – Getting Ready (Ceccherelli)

(0:30-0:40)          Chapter Two – Worksheets for Buying and Leasing (Ceccherelli)

(0:40-0:45)          Chapter Three – Credit (Ceccherelli)

(0:45-1:00)          Chapter Five – Finding Property (Ceccherelli)

 (1:00-1:05)         Chapter Four – Working with an Agent (Ceccherelli)

(1:05-1:10)          Chapter Eleven – Ownership Models (Ceccherelli)

(1:10-1:30)          Chapter Eight – Buying Residential Real Estate (Garbo Grossman - Community Homestead)

            Resources of Seattle’s Housing Department

Down Payment Assistance Programs

(1:30-1:50)          Chapters Nine and Ten – Residential Mortgages (Mortgage Lender)

(1:50-2:00)          Q&A

(02:00)  Adjourn

Government Programs for Real Estate

I had dinner with and listened last night to national speaker Sean Carpenter at the Real Estate Association of Puget, talking about government funding programs for real estate development. Sean Carpenter has done over $500M in real estate transactions over the past 12 years using government programs to put tenants in his properties, cover down payments, fund entire rehabs, and paying out millions in tax credits. These are OUR tax dollars, and the federal government makes these funds available to fuel economic growth and redevelop blighted neighborhoods.

Government funding is available through such programs as Low-Income Housing Tax Credits, Neighborhood Stabilization funds, Community Development Block Grants (which just celebrated its 40th anniversary!), Home Program, Section 8 housing vouchers, Federal Home Loan Bank funding, and FHA programs such as FHA 221(d)(4) for new construction, and Sean's favorite FHA223(f).

Some of these government funding programs offer 0% interest, no payments, and loan forgiveness within 15 years.

As a former government employee, I know that these programs are out there, and that they exist to stimulate economic development, eliminate blight, encourage economic growth, and to achieve other public policy goals such as affordable housing. Tax incentives and tax credits can make an otherwise unprofitable venture more attractive to a developer/investor.

Last night's talk rekindled my interest in developing artist spaces, an opportunity to marry my 25 year career as a government arts administrator with my new career path as a real estate entrepreneur. If any of my readers are interested in pursuing this angle of development, let's talk!