House for scholarships.

Fresno, CA, USA That gift will soon translate into scholarships for students all over the valley... But there's a catch.

On the market for a new home? How about this pretty, pink custom Victorian

"It sits on the nicest subdivision of Reedley; it's like a block up from the river. It's a beautiful two-story house... Almost 3000 square feet." Gurdeep sihota sounds like a real estate agent,"This is the closet. I tell you. All the closets are huge!!"

And she may even look like one, but the real reason she wants this home sold, and fast, is because needy college students will reap the benefits. "We're used to money coming in different amounts, but not a home-- so this was kind of exciting."

A valley couple-- both former Fresno city college students donated this home to the state center community college district. Once the home is sold, 100-thousand dollars will go towards an endowment account for scholarships, but to receive the award, the students must make a promise, "When they make it at some point in their life-- they want that student to pay it forward.. And it doesn't have to be in the amount of a home, but whatever they can do. Any amount benefits."

Reedley college student Matt Kissinger is already setting an example, "this has been really nice and easy. We've just been cleaning up, pruning trees, and picking up leaves, just making everything look a lot better."

Inside, students and community volunteers have also been busy getting the 5-bedroom home "move-in" ready. "We're thinking of putting this in the kitchen, the living room, the upstairs bedroom."

The paint was donated and so was most of the carpeting.

Robert Yeakel was happy to donate his cleaning services to the cause, "I think it's a super idea. There are not too many people doing that today, need more people to do that, especially today when things are a little rough right now."

With home values plummeting across the country, the goal is to sell the home as quickly as possible. It's on the market for 349,900, down from just under a half million last year. Mark Glenn, real estate agent: "we're going to sell this house and move it as fast as we can...it's just a great value for the area, square footage, and the style and the construction of the home."

And did we mention it has a telephone room??

Gurdeep hopes someone will fall in love with that, and with the generosity that has made it possible. "Definitely the love has been put into it, which I think it will just resonate through the house. Hopefully the individual that buys it just knows that that money just went to not just my mortgage and the payment I have to make but wow, it's also developing scholarships."

Money from the sale of the home will go towards the "pay it forward" scholarships and renovations to the old administration building at Fresno City College.

If you'd like to see the home, you can call the foundation at 244-5991. Or your real estate agent.

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