foreclosure list

Are you concerned with the lowering value of real estate causedby job loss, businesses shutting down and abandoned properties?

Despite the economic growth in major cities across NorthAmerica, smaller communities are facing this downgrading andbecoming targets for increased crime, lower quality of life anddepreciating real estate values leading to more foreclosures onproperties.

The NAR (National Association of Realtors) as well as theUniversity of Western Sydney and others, have not only beenwatching the trend, but studying the effects of abandonedproperties and learning how to rebuild these communities.Several case studies have been performed and were instrumentalin creating a basis for teaching community leaders and realtorshow to create sustainable and thus higher value, communities.This attention to communities as a whole is breathing new lifeinto neighborhoods which were slowly depreciating and losingnecessary financing.

Education on Community Renewal

Education is needed about the growth opportunities these dyingcommunities can provide. Properly trained realtors can play apositive role in planning the rebuilding of fading communities.They need to be asking; what urban development program could beimplemented? How are underserved retail and minority groups ableto take advantage of the market? How can older suburban areas beupgraded? Can foreclosed properties be used to attract investors?

Encouraging News for Investors

When a community is working to rebuild, investors can takeadvantage of low prices, such as foreclosures, with an eye todevelop in a rising market.

By working with the community plan, which will lead to increasedproperty values, they can choose residential and commercialdevelopments which will support, rather than defeat, the renewalplans. They can find ways of helping communities developsustainable businesses and attainable housing. Thisconscientious involvement from the investors will help turn thetables on abandoned properties and displacement.

Creating Plans with the Community

Organizations such as NAR are now making grants available torealtors who are actively looking to partake in this urbanrenewal. Arranging for seminars and workshops, these realtorsand their communities can work together creating a plan. Theirplan will take into account bringing needed businesses into thearea, upgrading residential areas and marketing city-ownedproperties with a focus on improving the livability and value ofthe community.

Realtors can learn how schools, transportation, public parks andaffordable housing affect the neighborhoods they serve. They canalso learn how to find investment partners that are willing towork with the programs they've planned and attract them with thelow investment costs.

Looking Forward

Urban and community renewal projects are taking place in manyareas of the country and are targeting both the communityleaders as well as the public for increased support in attainingtheir goals. Buying properties in these low valued areas andworking with community renewal programs can truly alter the lifequality of residents, encourage minority businesses and createsustainable communities that attract investment into thecommunity.

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