Now that we are experiencing a recession, the words "affordable housing" resonate with more people than ever before. In Montclair, HOMECorp is hosting an open house for a property at 19 Elmwood Avenue on February 28. The house, a single family, center hall colonial home (shown), is priced at $295,000.
HOMECorp has marketed the house as a workforce property, with a goal of attracting buyers from Montclair's workforce sectors (police and fire personnel, municipal employees, board of education staff, hospital administrative workers). According to HOMECorp, these buyers are usually ineligible for HUD regulated affordable buyer programs because their incomes exceed the limits. They also can't afford to purchase a home in Montclair at the average sale price of $500,000. HOMECorp's reduced pricing on this home will give a middle income buyer a chance to become a homeowner and live in the community where they work. No income restrictions apply.
The property features three bedrooms, one bath, original hard wood floors, year-round side porch, fireplace, rear deck and two off-street parking spaces. HOMECorp is now accepting offers on the home; the open house is Saturday, 2/28, from 3-6 pm. For more information, email homecorp@verizon.net or call Gwen Battle at 973-744-4141.
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Comments (15)
"Affordable housing" can also be synonymous with "getting mugged in your front yard." There's a reason that house is affordable. Just look at the neighborhood.
Seems like a nice house. Too bad it's so close to the blighted Mission St. and New St's. You could get some ribs from the BBQ place (great food, BTW!) and your crack rock on your walk home from Bay St. train station. Two birds with one stone!
Did we ever get an answer to the question in regards to if the property taxes for affordable housing is the same as for regular housing? If they are lower, am I paying for this?
I'm not sure if this would change after the sale by Homecorp, but the house is currently assessed at $419,100.
Big deal ! Someone may get in there, and get behind on the tax bill. Same old story. It's akin to a real estate three card monte scam.
Not for nothing - but there are half a dozen 3 bed, 1 bath houses listed for under $300k in Montclair.
Because that's what a house is really worth.
I'm with you, Rob.
As for the 2nd bathroom: DH and I fought about that. I really didn't shiv a git about a 2nd bath, especially since it cost a little more. It's just the 2 of us, after all. He said, "trust me." Well, I did and I have to admit he was right.
Maybe Franz, Nocorzine and South could pick up the phone and call and ask the question. Tax bil reflects the prevailing AV, not how it was financed. HOMECorp isn't supported by the Township. So, this place costs you nothing.
Maybe tribble should learn some reading comprehension. Show me where in my comment I asked about taxes on this property, or about anything related to HOMECorp. That's right, I didn't.
For the record, I think what HOMECorp is doing is admirable and worthy. It's just too bad that the neighborhood near this house is so crime-ridden and blighted. People have been trying to make this area of Montclair better for decades. The reality of the situation is that this area likely won't improve until the crime rate drops and income rises (yes, the truth hurts). That so much Section 8 housing is in this area probably isn't helping matters much.
I would love to purchase a house in Montclair for my family instead of renting, but it probably will never happen. I can't afford even the decent parts of town (not to mention the ridiculously high taxes). But I also will not knowingly subject my family to living in an dangerous neighborhood...which the area around New and Mission Streets definitely is. I read the police blotter every week and talk to the cops I bowl with to get the real stories.
So, good luck to whomever buys this house. It certainly won't be me. And even if this area is somehow miraculously rejuvenated and becomes tolerable, the property values will inflate so quickly as to make the taxes unaffordable for the low-to-average income person. Welcome to Montclair!
The taxes were 8760.65 in 2008. The lot is 50X135
floor area is 1454
built in 1927
"For the record, I think what HOMECorp is doing is admirable and worthy. It's just too bad that the neighborhood near this house is so crime-ridden and blighted."
FYI Sooth - The original concept and work of "community development organizations" in the 60's and 70's was to uplift and strengthen neighborhoods with holistic planning, not lower the property values by ignoring crime, blight and slumlords, over populate targeted neighborhoods with Section 8 and subsidized rental units, and devalue comparable home prices by offering property below competitive market values.
Ask where the board members and staff who are doing all the "admirable and worthy work" live and own homes, and how much Section 8 and below market price units are being developed next door to their properties. The game is, if they keep it all down here, their property values go up, ours go down. Good works, indeed.
sorry, Sooth. i conflated your marginally racist comments withthe other class-based ones.
sorry, Sooth. i conflated your marginally racist comments withthe other class-based ones.
sorry, Sooth. i conflated your marginally racist comments withthe other class-based ones.
So now it's racist to state facts (this ward is rife with crime and drug use/sales)? Or classist to not want to subject my family to dangerous elements in this neighborhood?
Must be nice to live in your rosy little world. Let me know when the residents of this ward finally decide to evict the criminals and unemployable layabouts then I'll consider living there.
But please, prove me wrong. Show me that this ward is improving. I'd love to find affordable housing in this town and not risk getting mugged walking home from Bay St. train station. Or don't and just dismiss my observations as ho-hum racism because it's easier than admitting the truth to yourself.