I am referencing ARCH as in "A Regional Coalition for Housing.

From their website:

ARCH is an organization created by Eastside cities and King County to preserve and increase the supply of housing for low and moderate income households in East King County.

The ARCH Housing Trust Fund (HTF) was created by ARCH member cities in 1993 as a way to directly assist the development and preservation of affordable housing in East King County. The trust fund is capitalized by both local general funds and locally controlled, federal Community Development Block Grant (CDBG) funds. The trust fund process allows ARCH members to jointly administer their housing funds, and assist the best available housing opportunities that meet the housing needs of the community.

Part of my business life is visiting local merchants. I enjoy it, it is a way to come up with new prospects and to make people aware of our local blogs.

One common fact about where we live, Issaquah, is that those who work in our stores find it difficult to afford to purchase where they work. As a result, many drive from as far away as Tacoma to work here. This accounts for why some stores always have job openings, and will hire most who apply.

Each ARCH development will establish a maximum income for buyers somewhere between 80% and 100% of median income. In addition, maximum income guidelines are often adjusted for both household and unit size.

To qualify for ARCH the borrowers must attend educational classes and meet the income qualifications.

HOWEVER: 60 days after marketing has started the income and class requirement is waived. The builder may then market the homes to anyone. What does remain in place is the prices are set by ARCH. That includes resale prices. Each year, ARCH establishes the resale price based on local historical comparable sales.

ARCH isn't a perfect solution, but helps a segment of the market. Currently, in Issaquah this is what is available under the ARCH program:1 bedroom Income restriction is a maximum of $62,300 and the purchase price is set at $224,350 - 2 bedroom income maximum is $70,110 and priced at $245,700. Three bedroom has 2 categories, the best price at $268,900 with an income restriction of $77,900. In this price is a healthy contribution to closing costs.

Again, many of these are past the 60 day mark where the income restriction is waved.

One could purchase in Maple Valley - without ARCH - at these prices, and have a larger home, or not have a condo, but we have found some that prefer living in Issaquah and find the ARCH program a definite benefit.

This is a definite help to certain buyers, I like it.