It is a well known that fact that as the amount of foreclosures rise, so does crime and vandalism. Why is this, and is it happening to us?
Well Temecula and Murrieta have always been very clean cities. Low crime, high grades. This could possibly change in the future if foreclosures in our community keep hitting all time highs. We are a part of Riverside County and Riverside has the 5th highest rate for foreclosures in the country. Temecula Foreclosures are on the rise. Are these foreclosures going to affect our cities in a very negative way?
Foreclosure rates rising in a city means that there will be more vacant houses, which could lead to more vandalism. As soon as these cheap foreclosures are sold at auctions, investors typically buy them. When investors buy these foreclosures they usually rent them out. What we are noticing in the Temecula Valley is that investors from all over the country are buying up our houses and renting them out. We are going from a community of owner-occupied homes to tenant-occupied homes. This will only negatively effect our communities are renters typically do not treat the homes as owner's would.
What can we do about this trend?
Try and get it over with as quickly as possible. We need to get housing inventory moving and out of the way. Price have to start recovering and we need to push investors out of the Temecula-Murrieta market place. Houses in Temecula that are for sale need to decrease and we as consumers, need to focus on keeping up our community and working together.
Try and get it over with as quickly as possible. We need to get housing inventory moving and out of the way. Price have to start recovering and we need to push investors out of the Temecula-Murrieta market place. Houses in Temecula that are for sale need to decrease and we as consumers, need to focus on keeping up our community and working together.
Temecula Valley is and will stay one of the nicest places to live in Southern California.
Skylar Lewis
Keller Williams - Lewis Realty Group
8 comments:
It is quite true as mentioned above. This trend is to be stopped as it can harm the prospective people.
I agree. Temecula Valley is a great place to live.
We have a lot of foreclosure problems in Columbus Ohio.
I live in Lexington KY and most of the homes that I have seen effected are the homes that are listed over $200,000. There are loads of these big trophy homes and massive blocks of real estate that people can't unload.
Even though KY has fared OK through this economic tsunami, there are loads of 5000+ sq. Ft. homes that nobody wants. Add to the fact that the banks are so tight on lending right now because of their losses that even though someone may want to buy one of these places it will be a long and difficult process.
Good Post!
I live in Chicago and it is tough here. Although, it is a great time for investors.
This is the broken window theory that cleaned up New York in the 90's. If one broken window (or foreclosed house) is allowed to sit there, then people will get the idea that it's OK to break others or to vandalize other things leading to harder and harder crime. I think it's important for foreclosed homes to clear out as fast as possible for the health of the community.
This is a tough problem that will be hard to fix until more people get jobs. A house with a renter in it is still better than being vacant.
You cannot stop that trend immediately,it is a byproduct of recession ,which has started affecting our society as a whole.Until and unless this economy doesn't show signs of improvement in terms of jobs we cannot do much.
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