Cities Fight Glut of Vacant Houses

[RobertB]

Cities Fight Glut of Vacant Houses

By JOE MILICIA

Associated Press Writer

Judge Raymond Pianka views his courtroom as the emergency room of the foreclosure crisis.

Weary of lenders and wholesalers who don't show up to answer to housing code violations like unsecured doors and windows on foreclosed properties, he began holding trials without them.

He's put 12 companies on trial in absentia and has fined most, leaving each unable to sell any properties in the area until it pays up.

Rust Belt cities, already beaten down by a miserable economy before foreclosures began spiraling nationally, are moving to cut the number of houses left vacant when the mortgage can't be paid. At stake are valuable tax dollars and the survival of neighborhoods.

County treasurers and mayors are filing lawsuits and developing land banks to buy distressed properties and either demolish them or repair and sell them. Buffalo, N.Y., brings property owners and lenders together in court on monthly "Bank Days" to find solutions for cleaning up vacant homes.

http://seattletimes.nwsource.com/html/businesstechnology/2004165288_apforeclosurecrisisabandonedhomes05.htm l?syndication=rss

[Waiting...]

Now is a good time to buy houses and rent them out. I think that if you position yourself right now in the market, you can do very well in the future.

[RobertB]

Now is a good time to buy houses and rent them out. I think that if you position yourself right now in the market, you can do very well in the future.

Actually, many don't think the future is very bright (economically and otherwise), so that might be problematical.

[Waiting...]

Actually, many don't think the future is very bright (economically and otherwise), so that might be problematical.

I see your point. From a Christian perspective, it is a win-win situation. If we invest now and the economy rebounds, good for us. If we invest, and it gets as bad as some predict, we will probably be gone. I do think that we should use caution though and invest only as the Lord leads.

[Nova]

Where exactly is the Rust Belt?

My two cents, is that I wouldn't invest in property without a strong business base in the area. And also a low crime rate. Business for future growth. And crime as an indicator of social cohesiveness. There are plenty of properties in foreclosures all over the country.

[RobertB]

Where exactly is the Rust Belt?

My two cents, is that I wouldn't invest in property without a strong business base in the area. And also a low crime rate. Business for future growth. And crime as an indicator of social cohesiveness. There are plenty of properties in foreclosures all over the country.
Crime of all types seems to be epidemic. Victim and and so-called victimless crime alike.

[firstoftwelve]

my MIL's home was foreclosed on last year, and is still up for sale. We know the neighbors and we were told that someone had broken in and stolen all the copper tubing out of the house because it's worth so much. And the house isn't even within city limits or anything!! It's sad.

[Lisababy]

we were told that someone had broken in and stolen all the copper tubing out of the house because it's worth so much. And the house isn't even within city limits or anything!! It's sad.

that's happening here in virginia too. i work in the HVAC/plumbing field and we get calls every day from landlords to come out and quote to have the copper piping put back in because someone came and stole it right out of the vacant houses.