Town Square

Post a New Topic

Foreclosures mount in Belle Haven

Original post made on Jan 7, 2009

The number of houses foreclosed upon in Menlo Park over the past year has ticked over 100, and there doesn't seem to be much the city can do about it.

Read the full story here Web Link posted Wednesday, January 7, 2009, 12:00 AM

Comments (6)

 +   Like this comment
Posted by Kal Trains
a resident of Woodside: other
on Jan 7, 2009 at 10:14 am

So, what do you expect for buying a "Saltine Cracker Box" built in the 50's or 60's. Everyday you can come home to find something ripped off and wondering who is going to jump into your back yard tonight.
Cops or Bad Guys?
$500,000.+ for a shack in the "Mudflats.
Good job "Realtors". I hope you have saved your commissions to pay off your mortgages!

 +   Like this comment
Posted by Lets make cents
a resident of another community
on Jan 7, 2009 at 12:34 pm

Perhaps the city should consider using the money from Summerhill inlieu fees for the Terminal Avenue proposed development to finance the foreclosure relief effort since it seems unlikely that the Belle Haven community is going to approve of this new housing development at least in the very near future

 +   Like this comment
Posted by Habitat Supporter
a resident of Menlo Park: Belle Haven
on Jan 7, 2009 at 12:35 pm

Habitat for Humanity Greater San Francisco is a great organization and could bring some much needed resources to address this issue.

 +   Like this comment
Posted by Shauna
a resident of Menlo Park: Belle Haven
on Jan 9, 2009 at 4:20 pm

My heart goes out to these displaced families.

 +   Like this comment
Posted by Homeowner
a resident of Menlo Park: Central Menlo Park
on Jan 10, 2009 at 9:10 pm

For the city to get involved purchasing foreclosed properties is folly.

The foreclosed properties are selling, it seems in the range of $300,000 to $400,000. They are selling. They are purchased as investments and rentals, or by new homeowners. The are still functioning as housing.

The falacy though is the price they are selling now is pretty close to city 'BMR' housing rate. The city getting involved doesn't do anything (except make the city a creditor). The other part of this poor logic is that it doesn't increase any housing.

Sorry, Andy. This is a bad idea.

 +   Like this comment
Posted by Supporter
a resident of Menlo Park: Downtown
on Feb 19, 2009 at 1:13 pm

Homeowner, I see some sense to your logic, however, many of the investors buying up foreclosures are land banking and not doing much in regard to improving the homes to help relieve the blight of distressed properties. Similarly, if they are renting the properties it's likely that they are converting a homeownership unit into a rental unit. Distant owners/investors and a decrease in homeownership will not help revitalize the community; it's not simply about the number of housing units.

Don't miss out on the discussion!
Sign up to be notified of new comments on this topic.


Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: * Not sure?

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

Draeger’s Los Altos eyes upgrades, expansion
By Elena Kadvany | 4 comments | 3,390 views

College Visit: Lehigh and Lafayette
By John Raftrey and Lori McCormick | 4 comments | 1,680 views

Is Coffee a Date?
By Laura Stec | 18 comments | 1,475 views

Gratitude, Repairing and Avoiding Affairs
By Chandrama Anderson | 0 comments | 666 views

Tagging Along for the Ride
By Cheryl Bac | 0 comments | 552 views