It Is Not All GLOOM and DOOM

By
Real Estate Agent with Dockside Realty VA 0225142975

It is definitely not all Gloom and Doom in the real estate market.  This post deals with one community's steps to combat the downturn it has experienced and the number of abandoned and foreclosures that have resulted.

Long before this became a national dilemma, it became one for Flint, Michigan and other areas within Michigan.  With the problems experienced by American automakers, communities dependent on that industry came upon hard times and leaders within those communities have sought solutions for their housing problems.

In 1999, the Michigan State Legislature created a new, streamlined system for returning tax-reverted properties to productive use. In the process, they opened the door for communities to reclaim, reinvest in and rebuild their neighborhoods.

National Public Radio aired a broadcast yesterday that dealt with how Flint, MI is dealing with this problem.  If your community is experiencing problems with foreclosures and abandoned properties this may be of interest.  Genesee Country (where Flint, Michigan is located) has produced a brochure which can be download.  It provides an explanation of the nine programs.

GENESEE COUNTY LAND BANK PROGRAMS

The Genesee County Land Bank works in collaboration with the Genesee County Treasurer's Office to prevent tax-foreclosure on area homes and bring tax-reverted properties back into productive use. Through partnerships with public, private and non-profit partners, the Land Bank encourages  investment in more than 4,000 residential, commercial and industrial properties that it has acquired through the tax-foreclosure process since its inception in 2002.

To better position tax-reverted properties for re-use, the Land Bank operates nine programs:

  1. Foreclosure Prevention
  2. Demolition
  3. Side Lot Transfer
  4. Property Maintenance
  5. Housing Renovation/Rental
  6. Adopt-A-Lot
  7. Clean and Green
  8. Brownfield Redevelopment
  9. Development

In addition, the Land Bank and the County Treasurer's office operate the Foreclosure Prevention program. These programs enable the Land Bank to play an important role in stabilizing and revitalizing neighborhoods.

In order to find out how well these programs are working I urge you to look at the following sites:

thelandbank.org

http://web5.msue.msu.edu/lu/2004material/LB5KildeeOnGeneseeLandBank.PDF

http://geneseeinstitute.org/downloads/Bassett_Understanding_Owner_Decision.pdf

http://www.mlui.org/growthmanagement/fullarticle.asp?fileid=16782

There are programs in other states that are making a positive impact.  It would be nice to learn about them and the success they are having.

. . . . . . .

If you or someone you know is thinking of buying or selling property at  or near Lake Anna, please contact Kathleen "Kate " Elim.  She lives at Lake Anna, knows Lake Anna, loves Lake Anna, and specializes in Lake Anna area real estate.  Reach Kate at 540-226-1964 or by e-mail at lakeanna.kate@gmail.com.  Be sure to check Kate's blog at http://lakeannaandbeyond.com/ or http://lakeannacountry.com/

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 ©Copyright Kate Elim 2013

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540-226-1964 cell

lakeanna.kate@gmail.com

For easy property searches check out my web sites: katesellslakeanna.com

or

lakeannacountry.com

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Rainer
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Rian Muleback
Encore Realty - Gresham, OR
Gresham Oregon Real Estate
Interesting.  It is good to see that there is a plan to help turn things around.  Thanks for the info.
Feb 13, 2008 10:59 PM #1
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Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land at LA

Rian...You are so right.  I'm glad I caught the program on NPR. The program in Flint really seems to be working.

Kathleen

 

Feb 13, 2008 11:05 PM #2
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Kate Elim

Realtor 540-226-1964, Selling Homes & Land at LA
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