New Homes In California Being Torn Down

By
Real Estate Services with TheHousingGuru.com

If you want to know just how bad the housing market is in some areas, visit Temecula or Victorville, CA. Local officials, frustrated over the condition of foreclosures in their cities, began imposing stiff fines to banks that allowed their foreclosed homes to fall into disrepair. And some banks, many of which have been shown to be poor property managers, have taken the easy way out. Bulldozers have been called in to demolish more than thirty new homes in various stages of completion.

 

However, in the city of Indio, local leaders have taken a more proactive stance and are working with banks to avoid such a housing disaster. Indio’s officials and police are monitoring vacant homes and immediately contacting bankers to notify them of conditions needing attention. Vacant homes are required to have a contact number posted to simplify the notification process. With the threat of possible fines, and with regular contact from city officials, Indio has dramatically improved the condition of its vacant properties.

 

With the current state of the economy and the continuing glut of new homes, let’s hope banks and city officials can find a workable situation to help avoid the needless destruction of more houses.

To see a video on this destruction visit, CalculatedRiskblog.com

 

For the latest information for those interested buying, selling, building, remodeling, or repairing homes, visit: www.TheHousingGuru.com

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Topic:
ActiveRain Community
Groups:
Almost Anything Goes
Home Builders of America
"Whacked"!!!
Tags:
foreclosure
vandalism of foreclosures
housing crisis

Comments 104 New Comment

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Rainmaker
453,501
John Mulkey
Housing Guru
TheHousingGuru.com

Jim - Strange you mention cars; they're working on that one too with the "cash for clunkers" program.

May 06, 2009 12:17 PM
Rainer
761
B Boronat
Looking

I have seen that in many other states too!  Ohio for example has had this very problem for several years now.  Such a shame!  Now the banks own only the lots...

May 06, 2009 06:07 PM
Rainmaker
453,501
John Mulkey
Housing Guru
TheHousingGuru.com

B. Boronat - Yes, it is happening in other locations and will probably continue.

May 07, 2009 10:22 AM
Rainmaker
1,083,692
Jim Frimmer
Realtor & CDPE, Mission Valley specialist
HomeSmart Realty West

Several cities out here have passed legislation requiring the owners to take care of vacant properties. I have not heard if tearing the house down and taking care of a vacant piece of land is an option. Considering how much value a house adds to the land, I suspect that no one here is going to be tearing down a house anytime soon.

May 08, 2009 11:01 PM
Rainmaker
453,501
John Mulkey
Housing Guru
TheHousingGuru.com

Jim, the video I posted has now made it to national news. In this case the bank was allowed to destroy the homes and apparently did it rather than spend what was necessary to repair them.

May 09, 2009 01:13 PM
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John Mulkey

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