Latinos spell home: Y-U-M-A

Two months ago, Sylvia and Benito Adolfo Argaez, an immigrant couple with two sons, became homeowners for the first time.

"It feels great," Sylvia Argaez said Tuesday at a luncheon celebrating home ownership. "Our dreams came true."

They are among 12 families who have closed the deal on their first home through the Congressional Hispanic Caucus Institute.s National Housing Initiative, launched Sept. 24, 2003.

Sandra Nunez, housing program manager for the city of Yuma Housing Authority, said six more families have been pre-qualified and are currently looking for property.

The housing initiative is a bi-partisan program aimed at empowering Hispanic housing professionals and increasing home ownership opportunities for Hispanics nationwide. Partners in the initiative include national housing institutions, the National Council of La Raza, the Housing Authority of the city of Yuma, the U.S. Department of Housing and Urban Development, the Yuma Neighborhood Development Organization, Housing America Corporation and the Arizona Department of Housing, among others.

The initiative was prompted by the discrepancy between the Hispanic homeownership rate of 47.3 percent, and the homeownership rate of the general population, 68 percent.

Tuesday.s homeowners. celebration was the first of a series of CHCI-sponsored celebrations planned nationwide.

"Today we are honoring champions of housing," said NHI Fellow Alejandro Becerra.

Becerra presented eight individuals with home-shaped awards, including Sheila Harris, executive director of the Arizona Department of Housing,

Elsa de la Vara of Fannie Mae, Lorena Bazua of Bank One, Barbara Boone and Rhonda Wright of National Bank, Marietta Nunes of Federal Home Loan Bank, Nunez, and Benito and Sylvia Argaez.

"It.s an honor for me to work with all of the families," Nunez said upon receiving her award. "I look forward to closing more loans - we.ve got 1,500 more families to go."

Laura Reyes, home loan area manager of Bank One, presented HACY with a check for $15,000. In addition, Becerra presented checks on behalf of CHCI for $5,000 to HACY and for $1,000 to the Argaez family.

Yuma was selected as the first place to hold a celebration because Yuma has been the most successful in terms of producing low-income homeowners compared with participating communities in the region, Nunez said

"(Yuma has) been very successful in delivering collaboration," Becerra said. "We.re trying to show other housing authorities they can do the same."

The main objective, Becerra said, is to educate families on their options.

"We want to make it well known that these programs exist," he said.

Dr. William Masland, HACY chairman of the board, said in the last two years HACY has helped 54 families become homeowners, of which 85 percent are Hispanic.

"Home ownership leads to healthy families, which in turn leads to healthy communities," Masland said.

Despite recent successes, Nunez said recent increases in home values have increased the difficulty of buying homes.

"Even with subsidizing loans, we still have a gap we.ve got to bridge due to the skyrocket," she said.

Kenneth Finlayson, HACY executive director, said in the past four months the average price of a home in Yuma has been $115,000.

"A family really needs a $34,000 a year income to by a $115,000 home," Finlayson said. "It.s a serious problem in both the city and the county."