Best friends win opportunity to buy affordable homes
By Sylvie Belmond belmond@theacorn.com

Families waited with anticipation as city officials conducted an affordable housing lottery to determine the order by which 23 eligible low-income home buyers will be processed.

They were vying for one of 25 affordable condominiums in the 102-unit Moorpark Highlands Waverly Place development. The developer set aside 12 threebedroom units and 13 four-bedroom dwellings for the city's First Time Homebuyer Program.

Nine condos will be available within the next two months and the remainder should be completed before the end of next year if construction in the Pardee project continues according to plan.

The condos normally sell for $400,000 and above but lowincome homebuyers will get the units at the reduced rate of $166,000 for the three bedrooms and $182,000 for four bedrooms.

Two childhood friends and a pregnant couple drew the first three slots. Their dream of owning a home could turn into reality if they successfully complete the balance of the application process.

"I'm excited," said Laura Stayer who got the No. 1 slot. Stayer, a revenue officer for the IRS, was born and raised in Moorpark. She's been saving up to buy a home so she and her young son Tyler can stay in Moorpark.

Shannon Hanley was called for the No. 2 slot. The Moorpark native recently earned her master's degree in business from Loyola Marymount University and she works as an administrative assistant in the valley.

The timing also couldn't have been better for third place winners Joshua and Erin Verdugo who are expecting their first child within the next few weeks.

Council members randomly drew out envelops from two boxes, starting with families that already live in Moorpark and then moving on to the second container that had names of people who live out of town but wish to move here.

The preferential treatment of local residents didn't discourage Estuardo Rojas from trying. Rojas, his wife and two children live in Santa Monica but they want to plant roots in Moorpark, he said.

The lottery drawing is valid for two years unless a new raffle takes place before then.

Participants who won a spot in the raffle this week know they have more work to do before they can call the Moorpark Highlands home.

There were a total 69 applicants at first but many were denied because this lottery round only accepted lowincome candidates who already managed to save enough money for the down payment and closing costs, said David Moe, redevelopment agency manager.

Candidates were prescreened by the bank and the city to qualify for the lottery drawing. They already demonstrated that they'll be able to pay the 5 percent down payment without using gift money but still need to prove they have good credit and enough fiscal reserves to maintain mortgage payments in case of hardships, said Moe.

Until candidates complete all steps, nothing is guaranteed, said Moe, anticipating that for every one house available, it will take two or three applications before one qualified buyer is found. The odds are tough, but still much better then before as only two of 84 eligible participants were placed in a new home last year and seven in 2005.