WHO IS BUYING FORECLOSED HOMES AND WHY IT'S A PROBLEM

"Who's Buying Foreclosed Homes and Why It's a Problem

by Nate Berg (October 13, 2011)

 

 

Foreclosed homes tend to be problems for cities. They sit there, empty, unkempt, just asking for someone to break in. What they need and what governments at basically every level want is someone to buy them. Own them. Love them. Live in them.

 

 

So when a foreclosed property gets sold, the problem’s solved, right? Well, not exactly. According to a new study published in the Journal of Planning Education and Research, property sales don’t lead to solutions because often the people buying foreclosed properties from banks are also investors looking to resell the property. But these predominantly small-time investors typically have fewer resources to spend on maintaining their homes as they sit on the market and wait for new buyers.

 

 

“A lot of them are being sold to an investor and staying vacant,” says Dan Immergluck, an urban planning professor at the Georgia Institute of Technology and the author of the study. “You have the same problem as before.”

 

READ THE ENTIRE HERE

NOTE:  A COMPANY CALLED CORELOGIC IS LISTED ON THE  PROPERTY TAX RECORDS [WHERE THE PERSON WHO IS RESPONSIBLE FOR PAYING TAXES IS LISTED] OF MILLIONS OF HOMES THROUGHOUT COUNTIES IN OHIO AND ACROSS THE UNITED STATES.  WHO IS CORELOGIC?  WHAT IS THE RELATIONSHIP BETWEEN  MAPLE HEIGHTS GOVERNMENT AND CORELOGIC? CLICK NUMBERS BELOW FOR SOME  INFORMATION

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Update on Corelogic:
The Illogic of CoreLogic, August 26, 2012