In order to increase housing opportunities across the nation, the National Association of Realtors formed a partnership with Neighborhood Reinvestment Corporation (the founder of the NeighborWorks network) to promote housing opportunities through homeownership education and counseling.

The partnership will involve developing case studies on winning strategies and best practices where Realtors have worked successfully with NeighborWorks organizations on home-buyer education. The partnership also includes creating and testing prototype business partnerships between Realtors and NeighborWorks organizations, sharing member services and resources, and disseminating successful case studies at the national, state and local levels.

"Both the National Association of Realtors and Neighborhood Reinvestment are committed to educating and counseling consumers on the benefits of owning their own home," said National Association of Realtors President Walt McDonald. "Through this partnership we will be able to coordinate our home-buyer education efforts and thus help more families achieve the American dream of homeownership."

"Realtors are natural partners for NeighborWorks organizations," said Kenneth D. Wade, chief executive officer of Neighborhood Reinvestment. "This new partnership will help us expand the homeownership education and counseling opportunities we are creating in hundreds of communities throughout the country."

The partnership was developed under the auspices of the National Association of Realtors Housing Opportunity Program, which was established in 2002 with the goal of increasing housing opportunities for all Americans. The National Association of Realtors recently entered into similar partnerships with the National Association of Counties, the National Association of Housing and Redevelopment Officials and the U.S. Conference of Mayors.

National Association of Realtors also joined with the U.S. Conference of Mayors earlier this year to establish the Realtors Ambassadors to Cities initiative, whose goal is to expand housing opportunities and homeownership rates on a city-by-city basis. Through this program, Realtors and city officials work together on affordable-housing initiatives that will help to boost local homeownership.

"Our newly launched partnership with Neighborhood Reinvestment and its NeighborWorks affiliates will help Realtors work with community leaders on ways they can promote more housing opportunities," McDonald said.

Neighborhood Reinvestment Corporation, created by an act of Congress in 1978, strives to improve the quality of neighborhoods by offering financial assistance, technical support and training to local communities. Through innovative local partnerships of residents, businesses and government, Neighborhood Reinvestment supports a network of 230 NeighborWorks organizations that build affordable housing, promote financial literacy and revitalize communities.

According to a recent report released by the California Association of Realtors, the percentage of households in California able to afford a median-priced home was 19 percent, a decrease of eight percentage points compared to the same period a year ago when the Index was at 27 percent.

Information provided in this column is presented by the Realtor members of the Silicon Valley Association of Realtors at www.silvar.org. Send questions on any topic to jnewton@jnpr.com.