Nevada
New grants seek to help Nevada homebuyers with down payments amid uncertain housing market
LAS VEGAS (KTNV) — Many prospective homebuyers feel like they’ve been priced out of Southern Nevada’s real estate market, with prices continuing to escalate–the median home price in Las Vegas is currently almost half a million dollars.
Owning a home is still a part of the American Dream, though, and a new investment in Nevada is hoping to make it easier for people to purchase a house.
The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) recently announced a $10 million investment into Nevada’s affordable housing system, which will provide up to $50,000 grants to help homebuyers–especially first-time homebuyers–with their down payments.
WATCH: Channel 13’s Guy Tannenbaum talks to mortgage brokers and realtors about grants for homebuyers
New grants seek to help Nevada homebuyers with down payments amid uncertain housing market
In a statement released Monday, Nevada Governor Joe Lombardo said: “Attainable homeownership for all Nevadans is one of my highest priorities and we can’t do this alone. The partnership and commitment of FHLBank San Francisco through this investment will give stability to many of Nevada’s essential workers.”
“When I got the call about [the grants], I was excited,” said Maya Diaz. “Based on how the market is, it just helps with people maybe being able to qualify for more.”
Jeff Newbury is Senior Vice President of Mortgage Lending at Greater Nevada Mortgage, one of the lenders distributing the grants. He calls any home buying assistance transformational, especially amid so much market uneasiness.
“For a middle-income family, that is a massive, massive boost, because housing can positively contribute into so many other areas,” Newbury said. “When people put roots down, they tend to build strong communities. I think that’s what you see with this program, first-time homebuyers and working families getting into this opportunity, and building roots in our communities.”
So, how do you qualify? You have to make between 80.01% and 140% of the median income in your area.
According to the U.S. Department of Housing and Urban Development (HUD), the median family income in Clark County is $87,800. That means if your family makes between just over $70,200 and $122,290 per year, you can qualify for these grants.
And, because they’re grants, that means buyers don’t have to pay them back, which real estate agents and mortgage brokers can be a huge benefit for people on the market.
However, local mortgage broker Reynaldo Herrera thinks the tight requirements for these new grants might get people’s hopes up who don’t qualify, especially in a climate where buyers are looking for any help they can get.
“This is just my opinion, to me, it’s as equivalent as going to a casino and trying to win a jackpot,” Herrera said. “A very limited number of people are going to access that capital, but for those limited people, it’s going to be huge.”
Diaz, the local Realtor, is more optimistic though, and says even if you’re not sure if you qualify for these grants, it doesn’t hurt to ask your real estate agent or your mortgage broker.
“I think it is going to help a lot of people,” Diaz said. “I’ve already reached out to three of my clients who’ve been waiting, as soon as I mentioned the grant, they were like, wait a minute I think my sister wants to buy and they were saying a bunch of people might want to buy.”
For more information on the new grants, click here to read the full press release from Nevada Governor Joe Lombardo’s office.
Nevada
Clark County prepares for second annual Missing in Nevada Day event
Las Vegas (KSNV) — The Clark County coroner will host the second annual Missing in Nevada Day event, providing families with a vital opportunity to file reports of missing loved ones, receive updates on existing cases, and connect with investigators and advocates.
The event will take place on Saturday, Jan. 31, from 10 a.m. to 4 p.m. at UNLV’s University Gateway Building. Clark County Coroner Melanie Rouse highlighted the addition of new resources this year.
Families are encouraged to bring photographs, dental records, and fingerprints.
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DNA samples may also be collected from close biological family members to help build a profile for the missing loved one.
Nevada
Enrollment climbs in charter schools, drops in Clark and Washoe school districts
Nevada
‘Light over darkness’: Local Hanukkah celebrations held amid tight security
As the most visible Jewish holiday, Hanukkah is traditionally observed publicly with ceremonies such as the eight-day lighting of the menorah, Rabbi Shea Harlig of Chabad of Southern Nevada noted Monday.
In the aftermath of an antisemitic terror attack that targeted Jewish revelers marking the beginning of Hanukkah at an Australian beach over the weekend, the holiday’s message of “light over darkness” resonates, Harlig said at a menorah lighting ceremony at Las Vegas City Hall.
Events hosted by the city and later at Clark County’s government center took place amid enhanced police security.
Australian Prime Minister Anthony Albanese said Monday that the attack, which killed 15 people and injured dozens more, was “motivated by Islamic State ideology,” according to CNN.
“The way we deal with it is not by hiding, but on the contrary by going out and doing more events to bring more light into the world,” Harlig added.
Police officers and marshals guarded the city’s Civic Center & Plaza during the menorah lighting ceremony.
The Metropolitan Police Department said Monday that it was monitoring the Australian terror attack and that it had bolstered officer presence at places of religious worship across the valley.
“As always, we remind everyone that ‘if you see something, say something,’” said police, noting that suspicious activities can be reported at 702-828-7777 and snctc.org.
‘Festival of light’
Las Vegas’ Hanukkah ceremony was one of about 50 organized in the valley for the holiday, Harlig said.
Performers known as the “Dancing Dreidels” shimmied to music before a torch that marked Hanukkah’s second day was lit among Hebrew prayers.
Mayor Shelley Berkley and Councilman Brian Knudsen joined the festivities.
“In the city of Las Vegas, we do not tolerate antisemitism, racism, discrimination or hatred of any kind, against any individual or group of people,” Berkley said.
The Jewish mayor later told the Las Vegas Review-Journal about the holiday’s personal significance.
“It’s a festival of light, it’s a happy occasion where you celebrate with your family and your friends and your loved ones, and the entire community,” she said.
Berkley said that the city, its marshals and Metro had stepped up to provide a safe environment during the festivities, adding that a menorah celebration at Fremont Street Sunday went off well during the first day of the holiday.
“I think everybody that attended the menorah lighting last night felt very safe, and very welcomed and valued in the city of Las Vegas,” she said. “And that is the message we wanted to get out to the community. No matter what your religion, your culture, you’re all welcome here in this city.”
Asked about Southern Nevada’s response to the terror attacks, Berkley said: “I believe there was tremendous concern in the Jewish community.”
She added during her public remarks: “There has been a Jew hate and antisemitism for 5,000 years. We just keep moving forward and doing the best we can, and I’m very proud of the Jewish community and very proud to be a part of it.”
A couple of hours after the City Hall event, Harlig and the Dancing Dreidels made their way to a similar celebration at the Clark County Government Center, where the victims were memorized with a moment of silence.
Commissioner Michael Naft echoed the rabbi’s menorah lighting message in his remarks.
“There is no better way for the Jewish community — (or) any community — to respond to darkness than with demonstrations of our power, demonstrations of our strength and by never hiding, by never running away,” he said. “That’s what we do here in Clark County and around the world.”
Contact Ricardo Torres-Cortez at rtorres@reviewjournal.com.
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