Oakland Looks for Low-Income Home Buyers

OAKLAND, Calif. (KCBS)- A unique project in Oakland aims to reduce the number of foreclosed homes in the city and boost home ownership at the same time.

The Oakland Community Land Trust is looking for its first family to move into a newly renovated home.

The group has two 2-bedroom homes that are already ready to go.

Land Trust interim executive director Anne Griffith is looking for low-income home-owners.

"We think that we will be most attractive to homebuyers who are currently renting, folk who haven't' necessarily thought of themselves as home buyers," said Griffith.

Those who buy will find themselves the proud owner of a completely renovated home. Griffith says they're upgrading electrical and plumbing and doing foundation work and adding insulation.

"We're doing brand new kitchens with granite countertops, Energy Star appliances throughout the homes and brand new bathrooms," said Griffith.

The group is able to do it through a $5 million federal grant.

Its goal is to renovate and re-sell 130 homes in some of Oakland's most blighted neighborhoods.