San Diego Helps Everyday Heroes Become Homeowners
The National Assn. of REALTORS® and the U.S. Conference of Mayors have designated San Diego a 2007 Ambassador City for its Everyday Heroes program. Everyday Heroes helps San Diego police officers become homeowners, and was created by the San Diego Assn. of REALTORS® Ambassadors Foundation and the San Diego Police Officer's Assn.
Like many low- to moderate-income working families in San Diego, police officers are finding it increasingly difficult to purchase homes in a city where the median single-family home is approximately $614,000. In recent years the city of San Diego has lost municipal employees, including police officers, to other cities where homeownership is more affordable. The Everyday Heroes program was conceived to help San Diego combat this trend.
“REALTORS® build communities and are advocates for improving housing opportunities for America’s workforce, including those who have selected careers serving cities and their citizens,” said NAR President Pat V. Combs, of Grand Rapids, MI, and vice president of Coldwell Banker-AJS-Schmidt. “The Everyday Heroes program encourages those who protect and serve this community to become a part of it as homeowners, and helps the city attract qualified police officers. Affordable housing programs like this one give back to those who do so much to ensure the safety and well-being of our neighbors and neighborhoods.”
The goal of the Everyday Heroes program is to provide qualifying police officers with funds to buy down their mortgage interest rate, potentially saving them hundreds of dollars on their monthly mortgage. This substantial savings will allow many of the city’s police officers to become homeowners. The money to fund the Everyday Heroes program is being raised by SDAR member contributions, grants, special events and fundraisers. The program was announced at a press event today held at the SDAR headquarters. At the event, 2007 NAR President-elect Dick Gaylord and REALTOR® Christina Clemans of Cape May, NJ, chair of NARs Housing Opportunities Advisory Board, presented San Diego Police Officer's Association President Bill Nemec and SDAR President David Cabot with the Ambassadors for Cities plaque and $5,000 for the Everyday Heroes initiative.
“By working with our partners to provide lower interest rates for police officers who buy homes in San Diego, REALTORS® are making homeownership more affordable and accessible for those who play an essential role in insuring the safety and security of this community,” said Gaylord.
NAR and the U.S. Conference of Mayors, through its Council on the New American City, launched the Ambassadors for Cities program in 2003 to encourage cities and local REALTOR® associations to form partnerships to promote affordable housing and homeownership.