At Good Deeds, the East Bay Community Foundation is making the dream of homeownership a reality for working families. We find and fix up foreclosed homes so local families can buy them at a fair price and keep them for good. When families looking to put down roots win, neighborhoods and communities win.
Owning a home is a one-of-a-kind feeling. When you own, you can paint the living room whatever color you like and your family can gather for dinner around the same table. Looking at the blank walls of your first home, you can imagine them becoming gradually covered with photos of your children as they grow up. And when you own your home, you know that someday you might be able to pass it on to them. Homeownership is part of the American Dream, and working families deserve the opportunity to achieve that dream.
But…The dream is often denied.
For too many working families—families that have saved their money and are ready and able to buy a home—that dream is being denied. Often, cash speculators are snatching up foreclosed homes and making it nearly impossible for regular people to buy. And when families looking to put down roots lose, neighborhoods and communities lose, too.
Can the dream come true?
The East Bay Community Foundation’s Good Deeds program, in partnership with Self-Help Community Development, is designed to make the dream of homeownership a reality for working families that are ready, able and excited to buy. We find and rehabilitate foreclosed homes in neighborhoods throughout the Bay Area. And we give local families the tools they need to buy those homes at a fair price and keep them for good. At Good Deeds, local nonprofits, businesses, and banks work together for sustainable home ownership that benefits families and helps build stronger communities.
Good Deeds can help families and neighborhoods.
When families own homes, they get started on a path of building wealth for future generations. Communities benefit, too. Owning a home makes your neighborhood feel safer and friendlier. When a family can own their own home, they can stop worrying about having to move or change schools. They get to know their neighbors. Their kids go to school together and play on the same teams. They live in a place they can be proud of and invest in. And at the end of the day, they swing open their front door and repeat those words that millions across the country have said countless times before them: “It’s good to be home.”
How It Works
Good Deeds brings together non-profit and for-profit organizations to buy, rehabilitate, and re-sell to low-and-moderate-income families some of the nation’s foreclosed homes. Families retain full equity in the homes they purchase, thus providing them a substantial economic asset. Good Deeds can be applied in different geographical settings and at different scales. It requires little to no government assistance. And it can eventually sustain itself through re-invested profits on the sales of homes.
See Good Deeds from the eyes of a real family. Good Deeds is recognized as a best practice by the Federal Reserve Bank of San Francisco. Funding has been provided by the East Bay Community Foundation, two of our individual donors, and four corporate funders: Chevron, PG&E, Wells Fargo & Co. and JPMorgan Chase.
Successfully tested over the past four years with homes in Pittsburg, Richmond, Antioch, Bay Point, Concord, and Oakland, Good Deeds is managed on a day-to-day basis by the non-profit Self-Help Community Development in Oakland:
• A for-profit real estate development firm helps identify properties for the project and rehabilitates the homes.
• Self-Help Community Development acquires the homes and oversees acquisition, rehabilitation, and re-selling.
• The non-profit Community Housing Development Corporation of North Richmond helps identify qualified families and provides them with financial counseling, down-payment assistance and post-purchase counseling.
• The nonprofit East Bay Asian Local Development Corporation also helps identify qualified families.
Join us in supporting homeownership for strong families and thriving communities through Good Deeds. For more information, contact Senior Community Development Officer Debrah Giles at 510.208.0804 or at email@example.com.