"Not even a pandemic has been able to derail the red-hot Lincoln real estate market,” stated the Lincoln Journal Star. From June 2019 to June 2020, Lincoln housing costs increased by 12%. As home prices rise, first-time homebuyers continue to face a daunting reality.
Bill Porn, NeighborWorks Lincoln's HUD Certified homeownership counselor, spoke of today's housing market: "In today's market, homebuyers need to be reasonable and prioritize their needs versus desires, making trade-offs where possible. Buyers also have to be ready to act quickly if they see a house that they like. There is a lot of competition and agents are telling me 5-10 offers on a property is not surprising in the market today."
With the challenges of poor housing conditions and rising costs, the need for quality, affordable housing is becoming more critical than ever. Organizations are being challenged to come up with innovative ways to solve this problem, from forming creative partnerships to starting new programs and applying for additional funding. NeighborWorks Lincoln recently received a grant from The Sunderland Foundation that enables the organization to spend more money on home repairs in order for them to be able to purchase homes within their budgets. In addition, the education NWL provides is crucial in helping potential clients analyze their financial situation and determine whether homeownership is right for them, or could be in the near future. If you or someone you know is interested in the program, you can have them apply at www.nwlincoln.org. In the meantime, NeighborWorks Lincoln is up for the challenge of developing creative strategies to build and maintain affordable, quality housing opportunities and healthy communities.