This news just in...
Alexandria, Virginia was one of six cities recognized by the National Association of REALTORS (NAR) and the U.S. Conference of Mayors as doing a great job to promote affordable housing opportunities. See the NAR press release here.
The other cities designated as 2008 Ambassador cities are Allentown, PA, Asheville, NC, Bowling Green, KY, Irvine, CA, and Richmond, VA.
Despite the recent decline in home values, the skyrocketing home prices over the last decade have caused issues of affordability throughout Northern Virginia and within the City of Alexandria.
According to the press release, Alexandria instituted a program of Homeownership/Workforce Housing and Foreclosure Prevention by partnering with the Northern Virginia Association of REALTORS to address affordable housing issues through outreach and education to low- to moderate-income residents who rent rather than own their homes. The city and the local association have also organized home buyer seminars for city employees and Alexandria City Public School teachers and events to educate homeowners about avoiding foreclosure.
The median home sales price for March 2008 in Alexandria was $415,000. While this is lower than some neighboring jurisdictions due to the prevalence of condominiums in Alexandria, it is still out of reach for many who would like to live in the City.
Kudos to Alexandria for addressing this issue.
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WOW, two cities in Virginia, Alexandria and Richmond. Good news! And kudos to the Northern Virginia Association REALTORS® for their good efforts.
Good Post!