
2750 Colony Park Drive
Memphis, TN 38118
One of Memphis’ biggest challenges is transforming unused, abandoned property in neighborhoods to productive sites for parks, homes, businesses and other community assets. Blighted properties hinder the community because they waste usable space and make the neighborhood seem unattractive to new families and investors. By donating blighted or abandoned property to organizations like United Housing, many of these issues could be resolved as these sites are repurposed!
How to donate property.
Donating property is a fairly simple process – and a lot of information exists online to help you through it! The IRS hosts a ton of information on their website for anyone considering donating property or buying donated property. They also have links to all of the appropriate forms. Donations of property can be made to the state or charitable organizations registered with the state of Tennessee. If you don’t live in the Tennessee, be sure to check with the rules in your state.
To whom should I gift my property?
When choosing your donation recipient, you must consider where your property is located and your preference for its future use. UHI accepts donated land in an effort to provide more affordable housing, better quality of life and increased neighborhood attraction. We can also work with local nonprofit partners to transform your gift into community assets – like parks and businesses.
There are other organizations to consider! If the property is in Shelby County, you can donate it to the Land Bank of Shelby County. Once donated, this organization is responsible for its upkeep, and they then turn that property into something productive for the community as quickly as possible! Another source for donation is the Blight Authority of Memphis. This organization seeks to convert vacant, abandoned, foreclosed or tax delinquent land into productive use. Doing so increases quality of life and property values, and it revitalizes the neighborhood.
Benefits of donating property = big tax benefits!
In addition to the good feeling that comes from making philanthropic gifts, donating land can lead to tax benefits. These benefits will vary by person, property and state, so we encourage you to talk with a licensed tax professional about the potential benefits of your donation.
If you have any questions regarding property donation, or any other housing needs, feel free to contact United Housing at (901) 272-1122 or at This email address is being protected from spambots. You need JavaScript enabled to view it..
As you prepare to list your home, there are a few things you might want to update before letting potential buyers take a look. Making even minor updates can seem overwhelming, but they don’t have to be! We’ve compiled a list of things you can affordably do to spruce up your home before listing!
#1 - Make your home attractive – inside and out.
Curb appeal is important to potential buyers – it is their first impression, after all. Consider mowing the grass, trimming the shrubs and straightening up your front stoop to attract buyers on their first look and increase your home’s value. Also remember that the kitchen is king! Adding new knobs to your drawers and giving your cabinets a fresh coat of paint could increase your home’s value and give you more money in the bank. According to a recent survey, 80% of homebuyers placed the kitchen in their list of top three most important spaces. Therefore, making some minor upgrades in the kitchen can provide long-term benefits!
#2 - Make energy efficiency a priority.
If you’re considering new appliances or windows for your home upgrades, keep an eye out for Energy Star certification. These items help lower your monthly costs and increase your home’s value to buyers. The less money that buyers have to invest in the home, the more money in your pocket after your house is purchased. Make sure you verbalize these upgrades and lower monthly bills to your Realtor as well, as these can justify your higher selling price.
#3 - Make your home an easy purchase for buyers by handling maintenance before you list.
Homebuyers don’t want a house that requires constant maintenance, so make upgrades that reduce maintenance frequency – like replacing the AC unit and having the wiring reviewed by an electrician. By doing this, you increase the value and give buyers some peace of mind when it comes to the amount of work that they would need to do. Large projects like new flooring, roofing or siding may cost you upfront, but that investment is reflected in your home’s selling price. Taking care of some of these bigger projects makes buyers more inclined to purchase a home with a higher value.
While these may seem like daunting tasks, they don’t have to be! Minor upgrades such as painting, replacing hardware and tidying up outside don’t take much time or money to complete. In the end, these minor adjustments could lead to a major increase in your home’s value!
The three-year investment aligns with Memphis 3.0 Plan to support homeownership and small business growth in Frayser and Whitehaven.
MEMPHIS, Tennessee (Oct. 15, 2019) – Four organizations from the Memphis Community Development Financial Institution (CDFI) Network – United Housing, River City Capital Investment, Communities Unlimited and Hope Credit Union – were awarded $3 million through JPMorgan Chase’s sixth annual national competition, Partnership for Raising Opportunity in Neighborhoods (PRO Neighborhoods). With this investment, the Memphis CDFI Network will launch its place-based strategy of working alongside residents in Memphis’ Frayser and Whitehaven neighborhoods, with hopes of moving to other Memphis 3.0, a 20-year comprehensive plan guiding the city of Memphis, communities in the near future.
“Recognition of our efforts in Memphis, and the support to expand these efforts, is an enormous step forward for the development of a more equitable housing and business landscape in Memphis,” said Amy Schaftlein, executive director of United Housing, “With the support of JPMorgan Chase and in partnership with the three other organizations, we will create opportunities for Memphis families to find social and economic stability through homeownership and business owners to find profitability through stable business loans.”
The proposal submitted by the Memphis CDFI Network, Advancing Resident Priorities for Homeownership and Small Business Growth, focuses on community-level educational opportunities, housing and small business initiatives and access to capital – all in alignment with the needs of the Frayser and Whitehaven communities. Over three years, the commitment will be used to create small business loans, create or preserve affordable housing units, provide consumer loans and increase access to educational programs related to financial literacy, lending and credit and homeownership.
“With this investment, we are excited to launch MEMShops in Frayser and Whitehaven early next year,” said Cynthia Terry, director of entrepreneurship for Communities Unlimited. “We will work with neighborhood partners to recruit and support local residents interested in starting a new business, relocating an existing business, or moving a home-based business into one of these two neighborhoods.”
This national PRO Neighborhoods competition, which launched in 2016 and aims to spark collaboration among community organizations to tackle neighborhood-specific challenges, is part of JPMorgan Chase’s $125-million commitment to neighborhood revitalization.
“We were very impressed by the fact these CDFIs have been meeting for years. They have been collaborating, thinking, and dreaming about a better future for Memphis,” said Tom Simpson, market leader for JPMorgan Chase in West Tennessee. “As a born-and-bred Memphian, I am very proud to see JPMorgan Chase join with these dedicated community partners. Putting this kind of money into neighborhoods that desperately need investment and attention is huge for our city.”
Certified by the U.S. Treasury, CDFIs fill a vital role in the nation's financial services delivery system, offering loan products, financial programs and other services to families and communities that are difficult for traditional financial institutions to serve. The Memphis CDFI Network offers a unique collaborative of mission-driven nonprofits that offer holistic offerings such as housing mortgages, homebuyer education, credit unions, consumer lending, small business technical assistance, and small business lending.
Programming is expected to begin in early 2020.
About UHI
United Housing, Inc. is a nonprofit affordable housing agency that serves the City of Memphis, Shelby County and West Tennessee. UHI targets its services to families that are underserved by the traditional homeownership industry. Its mission is to provide quality housing opportunities to Mid-South residents through financial education, mortgage lending, home building and renovation, and creative partnerships with public, private and nonprofit entities. For more information about United Housing, visit http://www.uhinc.org.
About RCCI
River City Capital Investment Corporation is Memphis' only homegrown Community Development Financial Institution that operates a small business loan fund. It is a mission-driven neighborhood revitalization organization that facilitates loans and support services to entrepreneurs and businesses in underserved communities.
About Communities Unlimited
Communities Unlimited (CU) is a nonprofit CDFI serving Memphis, Tennessee since 1999. CU has offices across seven states to include Alabama, Arkansas, Louisiana, Mississippi, Oklahoma, Tennessee, and Texas. Mostly focused on rural communities, its mission is to drive community economic development through infrastructure improvement, community leadership development, small business startups and growth, and access to capital.
About HOPE
HOPE (Hope Enterprise Corporation, Hope Credit Union and Hope Policy Institute) provides affordable financial services; leverages private, public and philanthropic resources; and engages in policy analysis to fulfill its mission of strengthening communities, building assets, and improving lives in economically distressed parts of Alabama, Arkansas, Louisiana, Mississippi and Tennessee. Since 1994, HOPE has generated billions of dollars in financing that has benefitted more than one million individuals living in one of the nation’s most impoverished regions.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.7 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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If you’re in the market for a car, you’ll likely spend time researching and visiting dealerships to make sure you find the car and the deal that is perfect for you. While you can’t test drive a mortgage, for a purchase of that size you should absolutely shop around! Different lending institutions can offer different rates, accept individuals with different credit scores and can approve you for different loan amounts.
We know what you’re thinking – that sounds intimidating. And it absolutely can be! But like shopping for a car, you can come into the process feeling confident with a little research and preparation. Before you start shopping for a mortgage, here are a few things you should do first:
Know your current financial situation.
To qualify for a mortgage, you often have to provide a number of financial documents. Start gathering paperwork related to your financial situation – including pay stubs, investment statements and credit card statements. Have a clear understanding of what you have in savings, how much of a “rainy day” fund you have available, and all sources of revenue your family has available. Potential lenders will likely need to see this information to make sure you can afford to pay your monthly mortgage payments.
Understand what your credit score means.
In addition to financial information, your lending institution will evaluate your credit worthiness using your credit score. Your credit score uses a number of factors – outstanding debt, regular payments on outstanding loans, the amount of time you’ve had credit – to help financial institutions judge your ability to make prompt and full payments. If you don’t know your credit score, or worry your credit score is too low, United Housing offers credit counseling to help! We can help you understand what your score means and work to raise it.
Learn about mortgage options.
There isn’t a one-size-fits-all mortgage. There are different products that financial institutions offer depending upon your life stage and financial situation. It’s important that you understand the different mortgage types and which products are (and are not) a good fit for your family. We want you to avoid getting your hopes up about a loan product (and then a future home) that is out of your financial reach. This is what we teach in United Housing’s Homebuyer Education course! We break down available mortgage options in the current market and which options are available based on your circumstance.
Research financial partners.
Your mortgage lender will be part of your life for the next 15 to 20 years, so you want the relationship to be a good one. Do research and look to partner only with stable, trustworthy institutions. And, these institutions aren’t always banks! Community Development Financial Institutions, like United Housing, sometimes have loan options that you can consider when shopping for a mortgage!
Twenty-five years – what a feat! United Housing has served the Mid-South for a quarter of a century and I could not be more proud to be part of this organization. Our team has accomplished a great deal over the years and made a lasting impact on the lives of many in Memphis. Below are a few key figures our tireless work has helped us reach.
I have an enormous passion for UHI’s mission, sparked by the painstaking dedication I saw Tim Bolding exhibit when he was in my shoes as founder and executive director. The mission that he laid out for this organization is one that I have the utmost respect for and one that I hope UHI will carry out for another 25 years and then another 25 after that. To put it simply, he was an unbelievable leader – kind, driven, relentless – and UHI would not be what it is today without him. We miss him every day, but his spirit lives on in the work our team continues to do for the Mid-South.
The organization was designed to be a “one-stop-shop” for financial literacy, mortgage lending and real estate development. We do so much of that well, but it’s in the lending where I think we can really expand. With the Cherry Mortgage and Home Renovation Loan products, we’ve already made great strides in this arena, but there is still room to grow. Additionally, UHI has always had a strong homeownership mission, and we’ll continue to support that. But I hope to grow a quality rental program where we can transition individuals to ownership through financial education and credit counseling. Aside from that, I’d love to increase donor engagement and strengthen those relationships, giving them a chance to fully understand where their generous donations are going – and ensure they see how appreciative we are of their contribution.
With 25 years under our belt, we’re looking ahead to the next quarter of a century. Our team has ambitious goals – goals that will take UHI to new places and greater heights, all to ensure we can support more Mid-South families as they navigate toward homeownership.
Sincerely,
Amy Schaftlein
United Housing Executive Director
“Too little. Too late.” This will be an accurate statement if inclement weather strikes and you haven’t prepared. Every year, houses all over the country fall victim to the devastation that comes with severe weather. While some of the damage is unavoidable, there are certain precautions that you can take to avoid preventable damage.
Below are a few tips you can use to prepare your home for the next time severe weather rolls in!
Minimizing tree damage
When the weather is nice, trees are majestic and provide the perfect amount of shade. During a storm, this all changes and that once majestic tree can turn into a hazard within the blink of an eye. The combination of severe weather with loose and brittle tree limbs can be a recipe for disaster. It is very important that you cut off any branches that look brittle, dead or that are crossed and rubbing against each other. High winds and lightning strikes are all it takes for those limbs to become a projectile that could penetrate your roof or windows.
Some of this work can be done yourself! If the tree is low to the ground and the limbs aren’t too thick, you may be able to get a saw from your local hardware store and take care of the trimming yourself. But be cautious! Large trees with heavy limbs should be trimmed by experts. Do research and seek references from friends and family before choosing a tree trimming service to make sure you get quality service for your money!
Essential Supplies
Lightning does not only take a toll on the outside, but it can also wreak havoc inside your home as well. Surge protectors are a key low-cost asset to have in your home. They can save you tons of money because the right strike can destroy your electronics if they are plugged into the wall. A surge protector acts as a forcefield to guard your tv, lamp, speakers and other pricey electronics from direct impact! In the case that lightning does indeed strike heavily and your power is compromised, then it is pertinent to have certain essential supplies on hand. A few of these essential supplies are a flashlight, battery-powered radio, batteries, reserve cellular battery pack or mobile charger and candles. Each of these serves a vital purpose when faced with a power outage.
Having a plan
Unfortunately, everyone won’t have all of these supplies in the closet or their trees miraculously trimmed to perfection. It takes a plan to reach this level of preparedness. The first step in the planning process is making sure you have a homeowners insurance policy. Having homeowners insurance before a storm hits can cover the cost of any repairs caused by the storm. You and your family may not have all of the bases covered, but having some is better than none. Having a plan in place makes an already stressful situation less of a headache. Take it one step further and give everyone in your family a storm assignment. One person might gather all of the lighting supplies, while another prepares the safest room in your house for the family to tough out the storm. If everyone in your family is knowledgeable of the proper steps to take, then you’re already ahead of the game.
Severe weather comes and goes, but how your home fairs throughout this can fall into your hands. Think ahead. Aim to be proactive instead of reactive. This can save a lot of trouble in the long run!
Homeownership is a large part of the American dream. While homes serve as your dwelling and shelter, the place you call home could metaphorically become a financial safety net for your family. Whether you’re single and just starting out, looking to start a family or already have a family of your own, homeownership is a credible way that you can pass down wealth to future generations.
Why is homeownership an investment in future generations while renting isn’t? Renting is a good option for small periods of time, like when you’ve recently moved or when you’re job placement is temporary. But your rent payments are like daily transactions and don’t go toward an investment in your future – they go into someone else’s pocket. When you make a mortgage payment, you’re repaying a debt that eventually benefits you and your family. Paying a mortgage feels no different than paying rent, but the result is vastly different!
As you continue to make payments toward your mortgage, you’re building equity, or increasing the portion of the home you own. If you sell your house in the future for $70,000, and you owe the bank $15,000 because of equity you’ve earned by making mortgage payments, you’ll pocket $55,000 that you can then invest in your family’s future. You’re reaping the benefits of paying on your mortgage for years.
Ultimately, homeownership is a way to save money by investing in a home that meets your current needs in a way that renting does not. So, what steps should you take to buy a house and officially become a homeowner?
The first step is to understand your options. It’s important to know which factors, like income, credit rating, current monthly expenses, down payment and interest rates, affect the affordability of a home. These terms may seem intimidating, but THDA offers several resources like pre- and post-purchase homebuyer education and homebuyer education counselors to help define these terms and explain how they fit in the process.
Using these resources not only can help you learn what you can afford but it’s also a way to know your rights as a homeowner. By educating yourself, you lower your chance of overcommitting financially or becoming a victim to risks like predatory lending. Don’t worry, we understand that the process of buying a house isn’t any less scary or unknown.
Once you understand your options and your rights, think about signing up for a local homebuyer education course, like those offered by United Housing. These courses explain the foundation of homeownership like the importance of credit, how to build your credit, how to qualify for a mortgage loan, choosing a house, working with a realtor and basic home maintenance (plus much more!).
A home is a place for families – current and future. You can build a solid foundation for your family, one that will exist today and in the future. Ready to become a homeowner? Sign up for one of our homebuyer education classes or call us at 901-272-1122.
Happy National Homeownership Month! Owning a home can cause you to be filled with questions you had never even thought to ask before. Don’t worry, we’ve got you covered! We’ve answered a few burning homeownership questions below:
With all the unfamiliarity homebuying can bring, we know we didn’t cover every single one of your FAQs. That’s why United Housing offers homebuyer education courses and other resources that will give you the knowledge and tools you need to embark on the journey of buying your first home. Contact us today to find out more.
However — if you have a burning question you need answered ASAP, comment below and we’ll help!
When buying a home, everyone is looking for what serves their needs at their current stage of life. Of course, no one is going to purchase a house that negatively affects the way they live now. However, something that many potential homeowners don’t consider is what their needs will be later on. Life can change and fast! That’s why it’s a good idea to think long-term before purchasing a home. What future needs may arise? Will your family grow? Do you have an aging loved one who may have trouble with a multilevel abode?
Location
A location may seem perfect for your present situation, but what if that changes? For example, you may find a house that isn’t close to anything you usually frequent, but you sacrifice that because it is right next door to your job and you can’t pass it up. What if you change jobs one day? Or, what if your job moves office spaces? Try not to let current employment keep you from the location you want to live in now so you aren’t stuck in the future.
Future Projects
Be careful buying a home with features you don’t like solely based on the idea that you will renovate it in the future. Things you think you will have time for now may not always end up being feasible. Life and all the busyness that comes with it can sometimes get in the way.
Size
A home that may seem to be the perfect size now could end up feeling quite the opposite down the road. Be sure you keep in mind whether or not you might have children or even a relative joining you, as that may require an extra bedroom or two. People are not the only thing that can make your space seem like it’s closing in on you. If you work from home with a job that is increasingly demanding, you could end up needing more “office” space. In addition, consider yard size. Do you envision having a furry friend that would need space to run and play?
Resale
You may think this is the place you will live forever, but you never know, which is why it’s important to always consider a home’s value in terms of resale. Look at it through the lens of the average homebuyer instead of just in terms of you and your family.
Affordability
A mortgage payment that seems mostly doable now could turn into a real stressor on your budget. When looking to buy a home, make sure the mortgage payments and other fees are payable in any situation, for example, temporary unemployment, unexpected medical bills, etc. Wishful thinking isn’t always the best to cling to when it comes to home payments.
These are just a few things you need to consider before signing on the dotted line. Just remember, when it comes to buying a home that’s going to be with you for a while, the future is just as important as the present.
Get rid of wintry gloom and embrace the fresh feel and bright colors of spring! Give the exterior of your home some seasonal TLC when the season changes with these outdoor rehab ideas.
Entryway
First impressions can be tough, so make them easier by giving your home’s entryway a more welcoming feel. Start by adding a fresh finish or new handle to your door. Spruce up the path leading up to your door by introducing some stepping stones or new potted plants. Next, grant a new coat of paint to your mailbox or fix that dent that’s been there for too long! Think about replacing your house numbers with shinier ones or polishing the existing ones.
LandscapingDon’t let things get too rough around the hedges. When adding new, beautiful flowers or plants to the outside of your home, remember to trim tree branches and bushes, as well as pull weeds. If you don’t have much of a green thumb, consider choosing low-maintenance plants that still spruce things up. Additionally, maintain a mowed and watered lawn so the grass is greener on your side.
Maintenance
Outdoor maintenance isn’t as fun as planting a rose bush, but it’s even more important because it improves your home’s curbside appeal and longevity. Clean the gutters, fix concrete cracks and remove cobwebs or smudges from exterior windows. Inspect the safety levels of outdoor fixtures, such as the sturdiness of railings and fences, or trees close in proximity to electrical lines. Keep an eye out for water leakage and broken shingles.Fixing small things now could save the headache later.
Final touches
Lights can make the world of difference in brightening (literally and figuratively) your home’s exterior. The addition of a new light or lamp to your porch can give it a glowing and more homey appearance. How about some front door décor? Try a fun wreath or a cute welcome mat. These inviting touches are usually relatively inexpensive and easy to find. Finally, try some outdoor spring cleaning. Old items in your garage or a patio chair that you rarely use are all things that might be better elsewhere and can reduce the possibility of a cluttered-looking exterior.
Let these tips help you to reflect the excitement of spring on your home! It’s the perfect time to amplify curbside appeal.
Monday-Thursday – 8:00am to 4:30pm
Friday – 8:00am to 3:30pm
Saturday-Sunday - Closed
Monday-Thursday – 8:00am to 4:30pm
Friday – 8:00am to 3:30pm
Saturday-Sunday - Closed