Post a New Topic
Original post made
on Jan 7, 2009
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!
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
Habitat for Humanity Greater San Francisco is a great organization and could bring some much needed resources to address this issue.
My heart goes out to these displaced families.
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.
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
We prefer that you use your real name, but you may use any "member" name you wish.
Select your neighborhood or school community: * Not sure?
- Atherton: Lindenwood
- Atherton: Lloyden Park
- Atherton: other
- Atherton: West Atherton
- Atherton: West of Alameda
- Menlo Park: Allied Arts/Stanford Park
- Menlo Park: Belle Haven
- Menlo Park: Central Menlo Park
- Menlo Park: Downtown
- Menlo Park: Fair Oaks
- Menlo Park: Felton Gables
- Menlo Park: Linfield Oaks
- Menlo Park: Menlo Oaks
- Menlo Park: other
- Menlo Park: Park Forest
- Menlo Park: Sharon Heights
- Menlo Park: South of Seminary/Vintage Oaks
- Menlo Park: Stanford Hills
- Menlo Park: Stanford Weekend Acres
- Menlo Park: Suburban Park/Lorelei Manor/Flood Park Triangle
- Menlo Park: The Willows
- Menlo Park: University Heights
- Portola Valley: Brookside Park
- Portola Valley: Central Portola Valley
- Portola Valley: Ladera
- Portola Valley: Los Trancos Woods/Vista Verde
- Portola Valley: other
- Portola Valley: Portola Valley Ranch
- Portola Valley: Westridge
- Portola Valley: Woodside Highlands
- Woodside: Emerald Hills
- Woodside: Family Farm/Hidden Valley
- Woodside: Kings Mountain/Skyline
- Woodside: Mountain Home Road
- Woodside: other
- Woodside: Skywood/Skylonda
- Woodside: Woodside Glens
- Woodside: Woodside Heights
- Woodside: Woodside Hills
- Belle Haven Elementary
- Corte Madera School
- Encinal School
- Hillview Middle School
- James Flood Magnet School
- La Entrada School
- Las Lomitas School
- Laurel School
- Menlo-Atherton High School
- Oak Knoll School
- Ormondale School
- Willow Oaks Elementary
- Woodside High School
- Woodside School
- another community
Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.
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
Home & Real Estate
Shop Menlo Park
Send News Tips
Circulation & Delivery
Palo Alto Online
Mountain View Voice
© 2015 The Almanac
All rights reserved.