In April of 2018, CLAM sold its second affordable ownership home to a family of 5. The 3-bedroom, 2-bath home at 31 Giacomini Road is within short walking distance to everything that Point Reyes Station has to offer, including West Marin School.
How did this sale work? CLAM held homebuyer education workshops in November 2017, and open houses in late November and early December 2017. The application period was open from November 17, 2017 to January 5, 2018. Eligible applicants were identified according to CLAM’s buyer qualifications and a lottery was held between the eligible buyers. Buyer Handout: English / Spanish
What is CLT Homeownership?
Homeownership through a Community Land Trust (CLT) means that the CLT continues to own the land while selling the home to a qualified buyer. Without the cost of the land, the house can be sold more affordably – while the CLT homeowner has all the joys and responsibilities as every other homeowner in terms of insurance, repairs, and making the home truly their own. When buying a home through CLAM, the future owners agree to resell it at an affordable price through CLAM. They will be able to make a modest profit on the sale of the home while also ensuring that the home remains affordable for another family (and many more families to come). More information can be found in these Frequently Asked Questions / Preguntas Frecuentes.
In Spring 2017 CLAM acquired a 3-bedroom, 2-bath home at 31 Giacomini Road, within short walking distance to everything that Point Reyes Station has to offer, including West Marin School. CLAM will sell the home affordably later this year – our second homeownership property.
When it was built in 2005, this home was one of seven homes intended to be sold affordably as part of the Ecumenical Association for Housing’s Point Reyes Affordable Homes development. Due to unexpected turns in funding, however, the Association had to sell the seven homes at market rate in order to complete the funding for the remaining 22 rental homes.
With CLAM’s purchase of 31 Giacomini Road, we have brought back one of the seven homes to its original intent – affordable home ownership.
Homebuyer Education Resources
It’s always food to prepare yourself for financial success. Although CLAM does not have any homes for sale at the moment, here are resources to help you prepare for the future.
- In-Person Courses (English and Espanol)
- Online Courses (English & Espanol)