As sponsors of the Dream House, builder Thomas McClain and The Settings of Black Mountain will donate a portion of the proceeds from the sale of this 2,699 sq. ft. custom-built home to Homes4NC so that it can increase affordable housing opportunities throughout the state. Over the last four years, Homes4NC has given more than $175,000 to help low- and moderate-income families with their housing needs, including more than $25,000 in Western North Carolina.
Housing leaders came together October 17 to celebrate the completion of the Dream House and what it means to affordable housing efforts in the area. Homes4NC director Bill Bass of Bass & Royster in Asheville said during the home’s dedication, “The entire real estate community thanks Thomas McClain and The Settings of Black Mountain for their leadership and generosity. These are hard times and the needs are greater than ever,” he emphasized “but working together, we will be able to help dozens of hardworking families find an affordable place to call home.”
McClain, who is set to lead the Asheville Homebuilders Association next year, added to Bass’s comments saying, “Making sure that we have quality, affordable housing at all income levels is important to making our community strong. I feel it’s my responsibility to give back to the community and the Dream House program is a great way to do that.”
Housing affordability is a key issue for North Carolinians and citizens across the nation. According to the 2006 “State of the Nations Housing” report issued by the Joint Center for Housing Studies of Harvard University, one in three U.S. residents spends more than 30 percent of their income on housing, an amount that is considered unaffordable. One in seven spends more than 50 percent. And, these numbers continue to rise as more families are impacted by the current credit crisis and the weakening economy.
Whether or not they can afford their own home has always been a question for families living at the poverty level. That dilemma faces even more families today. Because stagnant wages have not kept pace with home prices, housing affordability is a growing problem for moderate-income working families who now make up the fastest growing segment of the population that is shut-out of the housing market.
This trend is playing out in the Asheville market as more families find that they can’t afford to live close to work, schools or other community services. With a median home cost of $215,000 at the end of June, a family would have to bring in more than $56,000 a year to afford the average home. Unfortunately, the area median income of $52,500 falls short of what is needed.
That’s why this effort by Homes4NC, Thomas McClain, The Settings and Asheville REALTORS® is so important. It demonstrates what can be done when industry leaders come together to focus their collective resources on solving our affordable housing crisis.
About Homes4NC
Understanding that homeownership is the key to a better quality of life, NC REALTORS® established Homes4NC to help more North Carolinians find a safe, decent and affordable place to call home. Since its inception in 2004, Homes4NC has distributed more than $175,000 to NC agencies that help families with their housing needs, including $25,000 in Western North Carolina. Homes4NC grants have helped build 20 Habitat homes, provided downpayment assistance to eight families and homebuyer education to 5,000 consumers. For more information, visit www.homes4nc.org.
About Thomas McClain, Home Sweet Home Land Management Group
Asheville native Thomas McClain started Home Sweet Home Land Management Group six years ago as a general contractor with an unlimited building license. His specialty is building quality homes for the growing family, custom homes and spec homes. His homes are built for gracious entertaining and luxury living. McClain takes immense pride in the style of home he creates and his close attention to detail is evident in the final product. As is apparent when you enter his homes – he spares no expense to create a “Home Sweet Home”. For more information, call Thomas at (828) 242-3465.
About The Settings of Black Mountain
The Settings Development Companies, LLC is an Atlanta-based residential real estate developer specializing in primary, secondary and vacation-home communities in desirable Southeast locations. Its development focuses on mountain, lake, river and coastal properties with existing natural and man-made amenities. The developer is committed to preserving the environment and history in the areas surrounding each of its investments through thoughtful planning and design. The Settings’ Atlanta headquarters are located at 4300 Paces Ferry Road, Suite 500, Atlanta, Ga. 30339. For more information, call (678) 384-4500 or visit www.TheSettings.com.
About Ideal Living Magazine www.ideal-living.com (formerly Living Southern Style) is the leading provider of information for people seeking second home, resort and retirement communities in the southeastern United States through publications, real estate shows, and websites. Under our parent company, RPI Media, Inc, Ideal Living connects planned communities with prospective buyers and provides comprehensive resources for finding and comparing; golf, gated, waterfront, mountain, retirement, condominium and multi-family communities, through such vehicles as: press releases, direct mail, e-mail correspondence and monthly newsletters.
