Medford Mail Tribune news stories are HERE and HERE.
Community Development Commission minutes say
April 1st
Problem Properties Committee: Karen Blair reported that we are moving forward with the Medford Police Department taking the lead on graffiti removal efforts with its volunteers. Ms. Dix said that there has been excellent interdepartmental cooperation between Police and Public Works on this project.
March 4th
LeArta said that the committee also discussed a proposed vacant property registration program similar to rental registration but for residential properties that are vacant or abandoned. The ordinance was drafted by Code Enforcement and is based on a successful model from Chula Vista, California.
Discussion followed on the definition of vacant and the time factor for vacancy. Marlene Yesquen voted to recommend City Council support the ordinance for vacant property registration with a clarification of “vacant” or “abandoned”. Melodee Sewell seconded. Motion carried. The Code Enforcement division was commended for getting a grip on this problem before it gets out of control. Discussion followed on foreclosure and the impact on whole neighborhoods such as Vista Point. Louise said that when the Neighborhood Leadership Academy participants were surveying Hawthorne that in that tiny neighborhood of 140 houses, there were at least 3 foreclosed properties.
Showing posts with label foreclosed. Show all posts
Showing posts with label foreclosed. Show all posts
Tuesday, May 5, 2009
Sunday, April 12, 2009
L.A. Times Dishes on HUD $1 Foreclosed Homes; Says Owner Occupants Didn't Benefit.
LA Times story HERE says that $1 homes sold to cities haven't been going to owner occupants, but to investors and contractors. Typically these homes were sold to local governments and passed through to others, AFTER the homes sat on the market for 6+ months with no sales offers. Resale by cities to others also allowed cities to generate income for other housing related programs.
Think "Bow Wow" and you will get the idea of the condition of these properties and why direct acquisition by owner occupant without significant home repair skills would be unproductive for all.
Reminds me of story years ago of cops getting caught in owner occupancy lie after they picked up discounted foreclosed homes under Officer Next Door HUD program and flipped the homes in a year or two at a significant profit.
Key take away is if restrictions on occupancy and ownership are going to be a continuing requirement for foreclosure sales, it requires staff to do the leg work to insure compliance, as well as realistic expectations of who will benefit.
Think "Bow Wow" and you will get the idea of the condition of these properties and why direct acquisition by owner occupant without significant home repair skills would be unproductive for all.
Reminds me of story years ago of cops getting caught in owner occupancy lie after they picked up discounted foreclosed homes under Officer Next Door HUD program and flipped the homes in a year or two at a significant profit.
Key take away is if restrictions on occupancy and ownership are going to be a continuing requirement for foreclosure sales, it requires staff to do the leg work to insure compliance, as well as realistic expectations of who will benefit.
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