The owner of a vacant Oakland home and a housing nonprofit have reached a deal in which the nonprofit will buy the home for the two women who have been occupying it since November.

Housing nonprofit Oakland Community Land Trust earlier this week agreed to work out a deal to buy the home at 2928 Magnolia Street after a superior court judge ruled in favor of allowing the developer, Wedgewood, to evict Dominique Walker, 34, and Sameerah Karim, 41, last week.

Oakland Mayor Libby Schaaf, Gov. Gavin Newsom and Oakland City Councilman Larry Reid have all signed on to a solution that would allow the nonprofit to buy the home “for a price not to exceed the appraised value.”

“Community land trusts provide a path for low income residents actually own their own homes,” Schaaf said in a press statement. “The city of Oakland is a partner in making that happen by setting aside a part of our affordable housing funds specifically for this purpose.”

Walker and Karim moved into the home two months ago after failing to find affordable housing for themselves and their young children. The three-bedroom, 1,500-square-foot property is owned by Southern California investment company Wedgewood, which bought it at a foreclosure auction in July for $501,000 with plans to develop it.

The company had originally called the squatting “simply theft.”

Walker and Karim then formed Moms 4 Housing, a collective aimed at drawing attention to the housing crisis in California and speaking out against real estate developers who buy homes in low-income neighborhoods for investment rather than the community. Following the rise of technology companies and subsequent spike in property values in the Bay Area, homelessness also spiked — from 1,900 to more than 3,000 in the last two years alone, according to CBS.

“This is what happens when we organize, when people come together to build the beloved community,” Walker told CBS5 KPIX.

2928 Magnolia Street. Google Maps

Oakland Community Land Trust, which buys properties and turns them into affordable housing, had proposed to buy the property when Walker and Kareem had first moved in but Wedgewood had previously said that it would not negotiate while the women were occupying the home.

“What changed was the house was no longer being held hostage. We always said that we wouldn’t negotiate and we would have discussions once the house was free,” a Wedgewood representative said.

Email Veronika Bondarenko

Are you ready for what the industry holds in 2020? Inman Connect New York is your key to unlocking opportunity in a changing market. At Connect you will gain insight into the future, discover new strategies and network with real estate’s best and brightest to accelerate your business. Create your 2020 success story at Inman Connect New York, January 28-31, 2020.

Agenda | Speakers | Past Connect Videos

Thinking of bringing your team? There are special onsite perks and discounts when you buy tickets together. Contact us to find out more.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription