Do Your Foreclosed Home Search in Cities That Care
If you are doing your foreclosed home search, consider cities that care about the conditions of their neighborhoods.
Across the country, several cities have been partnering with nonprofits to maintain foreclosure houses and other distressed homes to protect neighborhoods from blight and decay.
These efforts by cities involve grassroots strategies, local volunteers and nonprofits and are outside the funding of the federal Neighborhood Stabilization Program. The NSP funding cannot solve everything; it has to be supplemented by efforts emanating from local residents and partnerships.
If a family buys from a foreclosed home search list in a community that has been doing its own to maintain peace and the beauty of the community, then the family will be assured that his home value will not deteriorate and his family will be safe and served by neighborhood services.
One of the national organizations helping cities and counties maintain vacant properties in foreclosed home search lists is the National Vacant Properties Campaign, which is funded by government grants and private donations.
The national initiative faces a daunting task, as millions of properties in foreclosed home search lists are not only foreclosed but also abandoned. The expected batches of foreclosures arising from adjustable rate mortgages and pay option loans will make the task almost impossible.
But several cities have made progress.
In Pittsburgh, a grassroots initiative named Green Up Pittsburgh has been turning vacant residential lots into green spaces, community gardens and urban farms. The city pays for horticultural specialists and initial plantings. Volunteers and city public works personnel help each other to maintain the green spaces.
In Cleveland, Ohio, among the Rust Belt cities struggling from foreclosures, the program known as Re-imagining a More Sustainable Cleveland has been turning over 18,000 vacant lots into blocks of land that could be developed further into residential and commercial uses.
In Philadelphia, another city known for its efforts to save houses from foreclosed home search lists, officials implemented property tax abatement to save a row of vacant homes in the southwestern part of the city. Some of the units were rehabilitated and sold or rented out to qualified families while the other units were demolished to prepare spaces for development.
In Louisville, a neighborhood association has transformed rows of deteriorating homes in Phoenix Hill into a community of restored houses with a vegetable garden and a small park.
Neighborhoods like these can make buyers of properties from foreclosed home search lists feel they have finally found the community where they belong.
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