May 13 2013
A local not-for-profit real estate broker is helping low-income, first time home buyers purchase and rehab foreclosed properties in the inner city.
ACTS Housing has assisted more than 1,600 local families transition to home ownership since its inception 21 years ago, according to Executive Director Carl Quindel.
"It's a big impact, at least for that family and the neighbors of that house," Quindel said. "We start to see changes on individual blocks and sometimes even neighborhoods."
ACTS hosts regular home buying events at foreclosed properties. It invites potential buyers into the home for a tour, and if they're interested in purchasing it, they can put their name in a drawing. Whoever is selected has the chance to buy the home for $3,500, and the new owner is required to occupy the home for at least five years, Quindel said.
The properties are in need of considerable repairs -- some requiring more than $10,000 of work. But ACTS helps with that, too. Through its counseling and micro lending programs, ACTS works with the buyer to finance and complete the repairs to make the home safe and code compliant, Quindel said.
For more about ACTS Housing, visit its official website. And to be alerted of future openings via SMS, text "ACTS" to 94253.