• Africatown Media

Only 6% of Blacks apply for home loans. NAREB and Africatown are out to change that.

Building Black wealth through homeownership

By Staff Reports

During a recent discussion at Black Dot, Kennedy Akinlosotu, founder of Nations Realty, a Seattle area real estate firm, said that current figures indicate that only 6% of African American’s apply for home loans nationally. One of the main reasons being that friends and family in the past might have been turned down for many different reasons and so many in our community no longer even try. According to Akinlosotu, now is actually a great time to purchase a home but the number one obstacle that many in our community face is mindset, we just don’t believe that we can possibly own a home.

Kennedy and his colleagues at the National Association of Real Estate Brokers (NAREB) are dead set on changing the narrative in our community when it comes to home ownership and have organized a free event this Saturday at Tukwila Community Center to give would be home buyers the tools and resources they need to push forward to achieving the dream of home ownership.

NAREB was founded in 1947 to ensure equal access to property ownership by African American’s. The other national realty organization at the time NAR (National Association of Realtors) did not allow African American’s to join their organization so 12 real estate agents in Tampa, Florida founded NAREB to advocate for African American home ownership. NAREB continues to play a critical role today in creating national, state, and local policy as well as educating first time buyers with tools and resources. NAREB currently launched a bold initiative in which they seek to put 2 million African American’s into their own homes over the next 5 years.

NAREB continues their community support and outreach towards their ambitious goal as they partner with the Africatown Community Land Trust to present the Community Wealth Building Day this Saturday, September 28, 2019 at Tukwila Community Center from 10am - 2pm. The theme of this free event is: Reimagining the Dream of Homeownership through Advocacy, Activism, and Action.

On Saturday, those in attendance can attend home buying workshops as well as sessions on mortgage and insurance assistance. NAREB will also be offering free support for:

  • First-time Home Buyers

  • Down Payment Assistance

  • Mortgage Counseling

  • Credit Counseling

  • Insurance Classes

There will also be additional workshop sessions on:

  • Insuring yourself and your home properly

  • Investing in Real Estate

  • Small Business Resources

The Community Wealth Building Day is a totally free event and open to the public. Free lunch will be provided as well as a raffle and door prizes. Space is limited and those what want to attend are highly encouraged to click here to reserve a free ticket.

For questions or more informations please contact:

Kennedy Akinlosotu - 206 423 9999 - kennedy@nationsrealityllc.com

Nicole Bascome - 206 250 3133 - nicole@bascombrealestate.com

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