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Tuesday, March 11, 2008

Foreclosure Rates and Neighborhood Crime

Here's an interesting statistic:

For every 1% increase in a neighborhood's foreclosures, violent crime increases 2.33%.

Visit Shannon Hubbard's Home Page     Written By: Shannon Hubbard
Realtor®-Investor

Great American Realty, Inc.

Cell: (480) 695-6672
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Posted by Shannon Hubbard, AZ Realtor & Computer Guru on March 11, 2008 | Permalink

Comments

Scary indeed considering there are 3 confirmed foreclosures in my neighborhood and 1 almost there!

Posted by: Shailesh Ghimire | Mar 11, 2008 3:24:50 PM

Hi Shailesh,
Better tell your neighborhood watch to keep an eye on those houses. You probably know how quickly the little gangsters will move into a foreclosed home, even in nice neighborhoods! They know the banks let foreclosed homes sit empty forever and a day, so they can hang out undisturbed and have their parties.

Take care :)

Posted by: Shannon Hubbard | Mar 11, 2008 7:09:43 PM

I believe this. In fact, I am speaking to a reporter with the Arizona Republic tomorrow because before the foreclosure mess, the city council of the city in which I live, Peoria, was doing nothing more than it still does when a property is non-compliant: Placing a citation on the property.

When it is obvious from the number of citations that the property is vacant, either because the mortgage company or owner is in another state or out of town or hospitalized, the property's windows are broken and other acts of vandalism are perpetrated, so more residents complain, and more citations are issued. As the additional citations increase in number, although they are meant to be affixed to the property, more often than not they wind up in the driveway of the home and eventually the street, adding to the litter problem.

As the property becomes more dilapidated, the city of Peoria, rather than doing anything to change the appearance of the property, continues to wait for the mortgage company or owner to take action, and then after a certain period of time, the city places a lien on the property.

So usually after years and years, the city takes possession of the property. In the meantime, properties like this simply make the rest of the neighborhood look ugly and bring down values all over.

I'm speaking of just a couple of subdivisions in Peoria, but with the city council made up of people who have no interest in improving the appearance of various subdivisions, eventually this problem will spread throughout Peoria. So unless neighborhoods and subdivisions have homeowners associations that are ruthless in enforcing CC&Rs, anyone living in Peoria who would like their property values to stay where they are or eventually head back up may want to ask the city council if they could look into some different ideas. I have many.

Posted by: Kathleen Winstead | Mar 12, 2008 8:17:44 PM

That's interesting. Is it the foreclosures that increase the crime rate, or does it just happen that more foreclosures happen to happen in the more ghetto areas?

Posted by: Smith | Apr 3, 2008 9:43:30 PM

Hi Smith,

I think it's just the fact the houses are empty. The foreclosures are in good neighborhoods and bad - they're everywhere! Once the little gangsters can tell the house is empty, they move in, have their parties and trash the place. It's not just the ghetto kids. Alot of respectable people in nice neighborhoods have kids that are just hoodlums too! They notice a house down the street is empty and next thing you know it's their new hangout. I've seen some very nice vacant homes end up with inside walls all painted with gang graffiti, and beer bottles everywhere. These punks will destroy stuff just for the sake of destroying it. From my experience, you have to be very careful when you leave a home vacant for an extended time, even in good neighborhoods.

Thanks for stopping by!

Posted by: Shannon Hubbard | Apr 4, 2008 9:44:33 AM

I forgot to mention, some insurance companies will NOT even insure vacant homes.

Posted by: Shannon Hubbard | Apr 4, 2008 10:15:29 AM

Arizona foreclosure rates will reach an all time high over the next 2 years. In Sedona, Arizona- it's the perfect time to buy a home. Sedona real estate prices have dropped 5-35% in the last 2 years. Search the Sedona MLS, talk to Sedona Realtor right now! Sedona is one of the most beautiful vacation destinations in the entire world!
www.sedonaarizonahomesforsale.com

Posted by: Jay Bingham | Jun 12, 2008 10:26:31 AM

Currently there are more than 10,000 home and property owners in Arizona who are facing the threat of foreclosure. Nearly 7,000 of them are within Maricopa County .

Posted by: West Linn Real Estate | Sep 8, 2008 7:22:30 AM

You know, I have ran into hives like that when I had an office there and I must tell ya..ouch. Being in real estate appraisal at http://www.sandiego-appraiser.com , I run into this kind of stuff often enough to know not to touch it eck

Posted by: Aaron | Sep 29, 2008 9:38:33 PM

So, your stating that your chances of becoming a victim of crime in AZ are pretty high (maybe 1 in 21). A better approach might be promoting the top ten safest cities in AZ. --hope that the link that I found provides some postive insight.

Posted by: Ann | Nov 13, 2008 2:18:46 PM

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