Local association responds to need for affordable housing

The Centre County Association of REALTORS® has taken the initiative in responding to a need in the local area for affordable housing. This project was spearheaded by Jerry Wettstone in mid-2008, and the American Dream Housing Fund (ADHF) is hoping to help fulfill the most cherished of American dreams. The goal of the association is to create a self-sustaining fund that can be used to help more individuals realize the dream of home ownership.

The Centre County Community Foundation identified affordable housing as the number one issue requiring the Foundation’s attention. The Centre County Association of REALTORS® entered into an agreement with the Centre County Community Foundation to have the American Dream Housing Fund placed with the Foundation’s portfolio.

The Centre County Association of REALTORS® has set an initial goal of $100,000. At that point, interest earning from the principal may begin to be used for loans and/or grants. The first annual American Dream Housing Fund Benefit Auction was held on February 13, 2009 and included a variety of auction items. Over seventy items were contributed and auctioned including a new home! Proceeds from the benefit along with member-pledged contributions have led to the Fund reaching over 25 percent of its goal.

The local association has called upon REALTORS® to contribute to the Fund by pledging a portion of their commission income, similar to a payroll deduction. Brokers and affiliates of the real estate industry have also been approached to make pledges as well.

Those wishing to find out more information about the American Dream Housing Fund can do so by visiting the Centre County Association of REALTORS® website or downloading this ADHF brochure.