She sold her home for nearly half its $1 million value. The ‘pay it forward’ deal is a new tactic in the Bay Area’s housing crisis

For Bobbi Loeb, the decision to sign over the home where she raised two children to a land trust was both financial and ideological.

Before she bought the quirky bungalow on a big lot more than three decades ago, the retired preschool teacher remembers that being a renter was “a nightmare” in the North Bay. Fast-forward to last year, and Loeb was lying awake at night worrying about looming repair bills for the home she had managed to buy.

The $550,000 sale of her 1-acre property — home to three one-bedroom bungalows ringed by mountains and cypress trees, which Zillow estimates could be worth more than $1 million — is the first success for a new Age-in-Place initiative at CLAM.

It’s also an example of the increasingly sophisticated ways that Bay Area land trusts and community groups are trying to ease the housing crisis, from equity-oriented Oakland homeownership programs to wrestling entire apartment buildings back from Silicon Valley investors.

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