The rate of foreclosures has eased a little but short sales and foreclosures continue to dominate the local real estate market. Every street has "For Sale" signs and in some neighborhoods, the majority of homes are vacant, just waiting to be sold at some time in the not-so-near future. So what impact are foreclosures having on your neighborhood? Is it just empty? Has it brought graffiti or vandalism? Has it meant the loss of gardens, parks and other facilities many neighborhoods take for granted. We talk with local officials and we talk with a local couple that was determined to fight foreclosures. We see how their neighborhood is doing a year after we first heard about their determination to fight the decimation of their community.
Michelle and Neal Williams, Las Vegas homeowners Kathi Thomas-Gibson, Outreach Coordinator, Office of Housing and Neighborhood Services City of North Las Vegas Christine Johnson, Executive Dir, Housing For Nevada
Another thing the banks aren't paying are the property taxes. That is one reason the county and other municipalities are hurting. A friend was upside down on his mortgage and tried to get the banks to refinance him or short sale. They refused and he walked away. The bank auctioned it for 55,000. They would have made more helping him. Thanks.
Allan –Sep 13, 2010 09:14:23 AM
Another thing the banks aren't paying are the property taxes. That is one reason the county and other municipalities are hurting. A friend was upside down on his mortgage and tried to get the banks to refinance him or short sale. They refused and he walked away. The bank auctioned it for 55,000. They would have made more helping him. Thanks,Allan –Sep 7, 2010 21:19:56 PM
Cheers to Kathi for stepping up for renters. I am a lifetime renter living in a neighborhood with numerous foreclosures and houses on 'short sale.' I am tired of hearing "Oh, you're a 'renter'" when I pay all of my bills on time, maintain the house, and have a yard with green, living plants (in contrast to the aforementioned properties). There are times when I believe folks are simply afraid to meet their neighbors as it would mean they would have to admit we are all human.Jennifer –Sep 7, 2010 21:01:42 PM
Our tiny neighborhood has been much quieter with the empty houses, and the fewer barking dogs. There are less speeding cars and less traffic overall. During my daily walks, I pick up any garbage that the wind has dropped.
Instead of bailing the banks out, what would the repercussions have been if the homeowners were allowed to simply own their homes? Wouldn't the economy have been fine with all the extra money in the economy from the cash not going to mortgage payments? Our grandparents were able to pay off their homes in five years. It seems to me that all this current system does is keep lawyers, bankers and moving companies happy.Betty –Sep 7, 2010 20:41:18 PM
Does Michelle have a counterpart in the city of Las Vegas. Our neighborhood does not have an HOA, and we could use some guidance in just plain organizing to correct some of the problems with the common area and the retaining wall around the development - which is in considerable disrepair. Just patching/painting would go a long way to improve the overall feeling about the neighborhood and I'm sure we could get neighbors together to help, if the city will help us too. Leslie –Sep 7, 2010 09:54:24 AM
Can't the HOA's and the cities/county send crews to these homes and businesses, do basic cleanup and water the trees (so they don't die) and bill the owner through lien process?Michael Little –Sep 7, 2010 09:48:17 AM
Any HOA's or Security systems to view these issues in the community? Suggestions in why not invested or options? anonymous –Sep 7, 2010 09:25:29 AM