Unique housing opportunity
R. Weinsteiger
Hello,
My family and I are super fortunate to own housing in Corvallis, we own a 900 sq ft. Community Land Trust house; however, our home is too small for our family of four. Honestly, it was PERFECT while the kids were small, but now that they have possessions and independent interests – we are bursting at the seams.
Community Land Trust homes are affordable homeownership opportunities by design for low-income buyers. In order to keep the CLT home affordable in perpetuity, the housing value goes through a somewhat complicated resale formula - that reduces the actual appreciation to ensure affordability to the next homeowner. The idea is lower income folks can access an equity-building homeownership opportunity to help launch them into fair market housing. Unfortunately, the Corvallis housing market remains a bit ‘unfair” and out of reach for too many, CLT homeowners included.
Today, we are a financially stable (no longer low-income) double-income earning family, living in an affordable housing opportunity for someone else, but we can’t make the jump.
I am putting the word out – to see, by chance, if there might be
someone living in a house that is too big for them. Maybe you have raised your kids, maybe you
are on a fixed income, and you are looking for something smaller, like a 1-story house, with
a small yard that is easy to take care of???
We are a 4 person family, 2 adults, and two kids (10, 15) and we desperately need more space. We could afford something in the 350K range, but we won’t stand a chance in a housing bidding war. Maybe there is a chance for a fair housing swap? If your income is at or below 80% of the area median income, you might qualify to own and live in our 2 br, 1 bath, 1927 bungalow in the Tunison Neighborhood, with low taxes to boot.
We would love to stay in South Corvallis, we have lived here
for 13 years, but we are willing to move anywhere in Corvallis or Philomath for the right home. We love to
garden, so a yard would be a bonus. Due
to chronic illness, it would also be helpful to have a 2 bathroom home.
I want to be really clear we will not consider selling our CLT without having a more spacious homeownership opportunity secured.
Am I speaking to you? Do you know someone who might want to talk to us? Please call me.
Thank you!
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