Phase II of Wild Rose Meadow is ready to welcome new homeowners. An Open House and OPAL's Annual Meeting take place on Saturday, April 17
The first homebuyer in Phase II of OPAL Community Land Trust’s Wild Rose Meadow neighborhood will purchase his newly constructed home this month. Then, each month through October, another family or two will take possession of their well-constructed, beautiful, energy efficient dwelling. In total, 14 houses will be completed this year in the neighborhood located across Mt. Baker Road from Orcas Center.
“People I talk with are surprised and delighted that homes are so near completion that we are ready to show and sell them. I invite everyone to join OPAL for a celebration on Saturday, April 17th,” says Lisa Byers, executive director. “We will have an open house on the property from 3 to 5 p.m. to view one completed home and other homes in process.” At 5 p.m. the event venue will switch to the Parish Hall of Emmanual Episcopal Church for OPAL’s annual meeting.
At Wild Rose Meadow, visitors will have an opportunity to explore both a 2- and 4-bedroom house as well as tour the wetland area. Or they may decide to experience the portion of the neighborhood, the community garden and landscaping that were completed last year. OPAL staff will be on hand to answer questions.
Once satisfied with their visit to Wild Rose Meadow, everyone can move over to the Parish Hall of the Emmanuel Episcopal Church at 5 p.m. for OPAL’s annual meeting. A brief business meeting, including awards, will be held followed by a potluck and entertainment. Attendees are asked to bring a salad or dessert to share. OPAL will provide soup and bread. “We like being ‘green’, so we encourage those coming for the potluck to bring a bowl, plate, cup and utensils,” Byers notes.
“The economic downturn is on the minds of many,” Byers states. “Still, the need for affordable housing remains high, as evidenced by OPAL’s 18 newly constructed homes, and 4 resales last year. In the same period, Homes for Islanders, another non-profit organization, has been constructing 14 houses on the island. We are celebrating great housing success for all on Orcas.”
One of the more remarkable parts of the affordable housing story this time is about putting people in houses since the financial world turned upside down. Julie Brunner, OPAL’s housing manager, says the lending market is always evolving, but the changes in the last 12 months have been far more dramatic than usual. “The current environment makes it harder for buyers and harder for OPAL staff. There are always hoops to jump through, but now there are more hoops than ever before.
“Buyers are also less confident. People on the wait list are holding off for a time when they feel more confident, even when an OPAL house is available. They are worried about possible layoffs and loss of income in the future, and are not ready to commit to the responsibility of a mortgage,” she adds. “Mortgage loans are more difficult to get. Some homebuyers are ready, but banks are nervous about lending.”
This year OPAL has served more people than ever before; in some instances, the downturn in the economy means some prospective buyers are now less qualified (they may have recently lost a job or had their hours cut) even though they met the requirements for a mortgage loan a year ago. “If we submit a loan application in March, the lending rules could change in April and our buyers are no longer qualified,” she adds. “The result is more turnover in the buying process. In the past, if 10 buyers were approved, qualified, ready to buy, 80 percent would eventually purchase. Now, only six make it to closing, and the last four sales are harder to nail down.
“Even in this tough environment, a record 19 low- and moderate-income islanders were able to achieve the dream of owning a home last year. We facilitated the sale of more homes in 2009 than the prior four years combined,” Brunner notes.
Eligible incomes to purchase an OPAL house range from $24,000 to $52,000 per year. Monthly payments range from $795 to $1,400 (depending on income). Homes are well insulated, energy efficient, constructed of durable materials, and accessible for wheel chairs.
“We’ve applied many things we’ve learned over the last 20 years to make the Wild Rose Meadow homes high quality, energy efficient, and family friendly,” said Byers. “Some examples: every home is designed for aging in place; they take advantage of southern exposure for solar gain; and each has an exterior storage shed,” she adds.
OPAL stands for “Of People and Land,” representing a commitment to protecting natural resources while providing permanently affordable homes for people who are vital to the Orcas Island community. Incorporated in 1989, OPAL now provides homes for 84 households on Orcas Island, and continues to accept applications from people who are not able to purchase a home on the open market. For more information, go to: www.opalclt.org.
For further information, call OPAL at (360) 376-3191.
