[Archived] Alexandria to Host Fifth Annual Home Ownership Fair on Saturday, Apri 10


News Release
FOR IMMEDIATE RELEASE

Date:	Tuesday, March 30, 1999
Contact:	Angelita Plemmer, City Manager's Office, (703) 838-4300; Mark Borum, Office of Housing, (703) 838-4622

Alexandria to Host Fifth Annual Home Ownership Fair on Saturday, Apri 10

Prospective home buyers can learn all about what is involved in buying a home at the City of Alexandria's fifth annual Home Ownership Fair on Saturday, April 10, from 9:30 a.m. to 1 p.m. at T.C. Williams High School, 3330 King Street, in Alexandria. Information about new and existing homes that are for sale in the City of Alexandria will be available from local real estate professionals. The Home Ownership Fair is open to the public and admission is free.

The Home Ownership Fair is an annual event in Alexandria that is again expected to attract over 250 people, including many first-time home buyers. The fair provides prospective home buyers with the opportunity to learn about all aspects of the home buying process. Representatives of lending institutions, real estate firms, and other housing industry professionals will be on hand to discuss home buying, specific needs and financial situations.

Those in the market to buy a home in Alexandria can obtain information on a variety of housing programs, including those sponsored by the city of Alexandria's Office of Housing that provide qualified applicants who live or work within the City with up to $25,000 towards the purchase of a home in the City.

"Nearly 60 percent of Alexandria households are renters, and the City strongly desires to encourage as many of them as possible to become homeowners," said Mildrilyn Davis, Director of the City's Office of Housing. The renter of a two-bedroom apartment pays an average rent of $875 a month and can afford to pay a purchase price of approximately $133,000 for a house or a house priced up to $158,000 with home ownership assistance from the City.

People attending the fair can apply for on-the-spot mortgage pre-approvals and pre-qualifications from mortgage companies and can receive responses the same day. The fair also will feature seminars in English and in Spanish on such topics as "How to Buy a Home," "Affordable Financing" and "Credit Issues."