Vanishing Friends And Neighbourhood

Posted in Foreclosed Homes, Foreclosed Properties, Foreclosure, August 6th, 2007 |

During the past years the few house owners have been losing familiar neighbours. The neighbourhood is beginning to lose its value together with its beauty and safety. A deserted look is taking over entire blocks.

It is a problem with neighbourhood associations. Nearly 10% houses have gone into foreclosure that results in overgrown gardens and creaking water pipes. Mission Viejo is just one of these areas. The situation is aggravated by the fact that it takes as long as nine months for the foreclosure process to go underway. There are about 50 to 100 complaints per week about overgrowths and garbage. In 2006 the city had to clean up 1,338 abandoned houses. Aurora had to suffer the same with 844 properties. This year the figures will be higher.

Aurora plans to place a lien against the unit and realize the expenses. The properties that have undergone a mopping up operation are only a fraction of the numbers caught in the foreclosure net. In the first half of this year 3,190 in Adams County was caught in the grip – 1,040 more than the previous year. In Arapahoe County last year’s June numbers were 2,354 while this year it is 3,031 according to official figures. In the Laredo Highline region property ratings have dropped on an average by $20,000 in the past three years.

The Council is worried about the vacant properties and the dismal appearance of northeast Aurora and wants state intervention to regulate lending practices. Another citizen is of the opinion that the cities should sit together and find out a viable solution. The problem does not relate to the issue of foreclosures only. It affects the neighbourhood, the tax collection base of the city together with the eerie silence inroads and schools.
Most of the banks are not interested in cosmetic repairs to the units to make it attractive. Vacant houses attract vandalism. Aggrieved evicted previous owners are often the avenging culprits as also the copper thief and vagrant. One agent recalls that she has seen houses with broken mirrors made slippery with maple syrup sans light and plumbing fixtures.

The police are not all that negative in their comments. Others say that banks are starting to brush up property appearances. Associations are being formed to help first time owners by pooling federal funds. A counselling hotline has been activated and the picture is beginning to brighten up.

Via