FEMA Fire Management Assistance Declaration – Washington Eagle Bluff Fire

FEMA Alert
July 30, 2023

FEMA has issued a Fire Management Assistance Declaration for the state of Washington to supplement state, tribal and local response efforts in areas affected by the Eagle Bluff Fire beginning July 29, 2023 and continuing.  The following areas have been approved for assistance:

Public Assistance:

  • Okanogan

 

Washington Eagle Bluff Fire (FM-5472-WA)

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

Wilkinsburg Land Bank to Use More than $350K in Grant Funding for Revitalization Projects

Industry Update
July 20, 2023

Source: cbsnews.com

More than $350,000 will soon be put to work to revitalize Wilkinsburg.

The Wilkinsburg Land Bank said it will invest the money in renovating the blighted and abandoned properties, starting near Turner Elementary School.

Local leaders supporting the project said in order to get people to move back to the area, they’ll need to take care of those who are already there.

“Sometimes you can’t just build your way to a good neighborhood and a good community,” said State Senator Jay Costa. “What we need to do is make certain we have a process and the investments to achieve what needs to be done with respect to rehabbing our communities and rehabbing our homes, one-by-one, so families can come back to the communities they once lived in or abandoned at one point in time.”

The Wilkinsburg Land Bank was established last year with the hopes of providing more affordable home options as well as opportunities for those in Section 8 housing.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Land Banks May Soon Claim Blighted Properties

Industry Update
July 21, 2023

Source: therecord-online.com

In the fight against blight, neglectful property owners may soon feel more pressure to clean up their act – or else lose control to a land bank.

House Bill 1163, now awaiting action in the Senate, would let municipalities take a “use it or lose it” approach to blight. Once a locality declares a property blighted or abandoned, it could then be deemed liable to be acquired by a land bank.

Property owners could appeal, and land banks would not be required to claim the properties, but the reform would put more pressure on landowners – who create an external cost to a municipality and drive down neighboring property values – to comply.

“It is my hope that this jolt to the arm will be the momentum needed for neglectful owners to use a property, sell a property, or redevelop a property,” Rep. Abigail Salisbury, D-Braddock, wrote in a legislative memo. “We need to hold absent and neglectful property owners accountable and give municipalities more ways to reuse and redevelop land.”

Braddock has struggled with its blighted burden for years. The borough released a blight strategy plan in 2017 that estimated almost 11% of its housing was blighted, with another 12% of housing units below average. In 2022, a fire leveled a set of blighted rowhomes and longtime residents complained of lip service from officials to address the problem, but no action.

Neighboring North Braddock has about 350 abandoned properties as well.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Pittsburgh City Council Advances Bill to Help the Land Bank with New Conditions

Industry Update
July 26, 2023

Source: wesa.fm

After months of debate and public input, Pittsburgh City Council advanced an agreement Wednesday designed to make it easier for the city’s land bank to return more vacant and distressed property to active use. The agreement governs how the city, the Urban Redevelopment Authority, and the land bank work together to transfer and sell blighted properties.

But the version of the agreement that members approved Wednesday comes with several new conditions.

The agreement is designed to even the property-buying playing field among the city, the URA and the land bank — each of which may be more or less suited to handle a given transaction depending on the circumstances. Supporters of the proposal, including Councilor Bobby Wilson, argue the current process has too much red tape, in part because council must currently approve any transfer of land between the government entities. Wilson had proposed a new version of the agreement that allowed the land bank to buy property without council’s permission.

But some members of council have expressed concern that the agreement diminishes their role in development, potentially leading to large amounts of land being sold without their input.

In an effort to strike a balance, members debated several amendments to the agreement Wednesday. They included provisions that will keep council involved in transfers to varying extents, depending on which government body is seeking to transfer the land.

In cases where property owned by the city is to be shifted to the land bank or the URA, the new language requires approval from a majority of the full council. But in cases where the property is being transferred from the land bank itself, all that is needed is the approval of the council member in whose district the property lies.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Neighborhoods Fight Blighted Investment Properties with Nonprofit Legal Help

Industry Update
July 26, 2023

Source: northeastnews.net

Neighborhood Legal Support (NLS) and Legal Aid of Western Missouri are helping Northeast and East Side neighborhoods fight back against out-of-state investors leaving multi-family housing properties abandoned and blighted.

On Friday, July 21, the organizations, joined by leadership from Indian Mound, Lykins and Town Fork Creek, gathered at 3000 E. 49th Street to discuss the litigation and call out Whitestone Real Estate Fund, the investment group that owns dozens of properties on Kansas City’s Northeast and East Side.

“The apartment complex behind us had over 60 units when it was acquired by Whitestone and their investment fund in 2022,” Alissia Canady, Deputy Executive Director with NLS, said. “Over 60 units are unoccupied today. Look at it, it’s desolate, it’s uninhabitable. It’s boarded up and full of trash all throughout the property.”

NLS filed litigation against this property at the end of May, giving Whitestone several months to clean it up, Canady said. NLS, a nonprofit law firm, operates and focuses on community development, acting on behalf of neighborhood associations and nonprofits to address blight, violent crime and economic despair in communities.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

HUD Announces Research Grant Opportunity and Event Focused on Office-to-Residential Conversions

Industry Update
July 25, 2023

Source: U.S. Department of Housing and Urban Development

The U.S. Department of Housing and Urban Development (HUD) released a notice of funding opportunity (NOFO) to study office-to-residential conversions. Later today, HUD’s Office of Policy Development and Research (PD&R) will host a virtual event featuring developers, researchers, and local officials to discuss the challenges of executing these conversions and how policies can help overcome those challenges.

The NOFO provides up to $860,000 to compile case studies of conversion projects that have taken place since the start of the pandemic, improve understanding of the financing limitations associated with conversions and the policy reforms and subsidies that can make projects more economically viable, propose metrics to evaluate conversions on housing affordability and other outcomes, and develop a guide for local leaders and development practitioners. Proposals are due on October 12.

“There has been a surge in interest in office-to-residential conversions since the pandemic-induced shift to remote work and as many cities face a softening demand for office space and escalating demand for housing,” said Solomon Greene, Principal Deputy Assistant Secretary for Policy Development and Research. “Research highlighted at the event and supported by this NOFO will help the field to understand the financial and structural barriers associated with conversions and will provide key stakeholders with examples of how best to overcome them.”

This NOFO and event are the latest in HUD’s effort to support researchers, community residents, practitioners, and policymakers to work together to unleash housing supply.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Foreclosure Rates are Surging: These 10 U.S. Cities are Where They’re Up the Most

Industry Update
July 24, 2023

Source: Realtor.com

Foreclosures in America are on the rise for the second year in a row. This puts a firm bookend on an 11-year decline in the forced repossession or sale of a home when a homeowner can’t pay the mortgage.

But let’s take a deep breath: The current rise in foreclosure activity is not uniform across the country. Even more than 15 years ago, when the bottom fell out of the housing market, there are more distressed properties in some areas than others. That’s why the data team at Realtor.com® went out to find which places are experiencing high—and growing—percentages of foreclosure filings.

However, before anyone panics, there is no wave of foreclosures threatening to wash across the country, bringing down home values like the epic crash that occurred during the Great Recession. And the foreclosed properties that do make it onto the market will likely be snapped up quickly by buyers frustrated by high prices and the lack of homes for sale.

In June, roughly 2.5 out of every 10,000 homes had a distressed property or foreclosure filing, according to data provided by ATTOM, a real estate data clearinghouse. In the first six months of 2023, the total of homes receiving a foreclosure filing was just under 186,000. In the years around the housing recession of the late 2000s, about 15 times as many borrowers were going through foreclosure.

The current increase is likely due to the pause in foreclosure activity during the COVID-19 pandemic, says Geoff Walsh, a staff attorney at the National Consumer Law Center.

Today’s rise in foreclosure filings is now catching up with borrowers who might have otherwise already been foreclosed on months or years ago.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Black Knight: “Seriously Delinquent Mortgages Hit Lowest Level Since 2006” in June

Industry Update
July 21, 2023

Source: Calculated Risk

According to Black Knight’s First Look report, the percent of loans delinquent increased 0.55% in June compared to May and decreased 2.8% year-over-year.

Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 3.12% in June, down from 3.10% the previous month.

The percent of loans in the foreclosure process decreased in June to 0.42%, from 0.43% the previous month.

The number of delinquent properties, but not in foreclosure, is down 24,000 properties year-over-year, and the number of properties in the foreclosure process is down 5,000 properties year-over-year.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FEMA Fire Management Assistance Declaration – Oregon Golden Fire

FEMA Alert
July 23, 2023

FEMA has issued a Fire Management Assistance Declaration for the state of Oregon to supplement state, tribal and local response efforts in areas affected by the Golden Fire beginning July 22, 2023 and continuing.  The following areas have been approved for assistance:

Public Assistance:

  • Klamath

 

Oregon Golden Fire (FM-5471-OR)

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

FEMA Fire Management Assistance Declaration – Washington Newell Road Fire

FEMA Alert
July 23, 2023

FEMA has issued a Fire Management Assistance Declaration for the state of Washington to supplement state, tribal and local response efforts in areas affected by the Newell Road Fire beginning July 21, 2023 and continuing.  The following areas have been approved for assistance:

Public Assistance:

  • Klickitat

 

Washington Newell Road Fire (FM-5470-WA)

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies