Crucial home buyer seminar to be held in Newark, New Jersey, USA

A new very crucial home buyer seminar is scheduled to take place on Saturday, May 27, 2023, from 12:00pm to 1:00pm at The Newark Public Library – Weequahic Branch, 355 Osborne Terrace, Newark, New Jersey   07112.

The seminar, which aims to enlighten participants on very critical issues surrounding home ownership, especially in Newark, New Jersey, will have as Key Speakers two experts in the sector, Sam Adjangba, Mortgage Advisor NMLS # 143162 and Tyrone Lowman, Sales Associate-REMAX 1ST Advantage.

Both Speakers are also Newark-Based Real Estate Investors and developers and Mr. Adjangba is, in addition, the Liaison between the Newark Property and Development Committee and the Neighborhood Assistance Corporation of America (NACA), which is the first partner and Program Administrator for the revolutionary Homeownership Revitalization Program of the Mayor Ras Baraka administration in Newark, New Jersey, which will enable low-cost ($1 dollar) sales of some City properties to residents of the City.

The two industry top shots will be explaining in detail, the Newark Affordable Housing Program, Short Sales, Down Payment Assistance, the difference between renting and owning a home and the Newark Masterplan.

Pointing out that the seminar will also explain the implications of Newark’s current Real Estate Statistics, the real estate landscape, and the challenge of gentrification in the city, a statement by the organizers noted that regrettably, only 25 per cent of residents at present, own their own homes, a very low percentage, which they intend to change, especially by arming the people with information that would change their circumstances.

They insist that it is not right that 75 per cent of Newark residents are tenants, that 50 per cent are rent burdened, spending more than 30 percent of their income on rent, a statistic which they say will get worse of the alarmingly fast gentrification taking place in the city.

The statement, quoting United States Census figures, noted that Newark’s population grew by 16 percent between 2010 and 2022 pointing out that in 2010 Newark had a population of 277, 000 and presently has 322,000 residents. The statistics shows that from 2010 to the present, approximately 45,000people moved to Newark, explaining that every day, about 10 people move into Newark, New Jersey and would be needing accommodation.

“Newark, NJ is a booming city.   In booming cities, rents increase exponentially.  The value of real estate also increases exponentially.   Real Estate in Newark has appreciated 100% in the last 10 years.    Newark Population is increasing due to immigration and migration from other cities and states.   This trend is going to continue because Newark is a booming city,” the statement stressed.

Against this background, the seminar will educate participants on how renting has changed over the years, why today is the best time to buy real estate, how to buy a house, the mortgage process and free pre-qualification and credit counseling.

Participants will also be encouraged to decide whether they are ready for homeownership. They will be taken through the budgeting and money management process, assessment of their creditworthiness, determination of the type of homes they can afford and programs that can help them buy their first homes.

There will also be comparisons between the different types of mortgages and lenders, mortgage engineering and discussion of investment properties in the city as well as rental income.

All of these are meant to educate participants and arm them with knowledge to make the right decisions concerning homeownership in the City of Newark.

Seating, according to the organizers, is limited hence the need for early-bird registration to attend this crucial seminar.  Registration for the Seminar is at: https://www.eventbrite.com/e/multi-family-investment-tickets-620172140567?utm-campaign=social%2Cemail&utm-content=attendeeshare&utm-medium=discovery&utm-source=strongmail&utm-term=listing

or scan the QR code on the attached flyer.