City, Residents: Dearborn Foreclosures Affecting Home Values, Tax Base
Despite the fact that fewer homes are going into foreclosure in Dearborn, city officials are still concerned a glut of homes will continue to hurt neighborhoods–and the city’s tax base.
On Andover Street, near Greenfield Road and Rotunda, a row of well-maintained homes evokes images of success. The homes–most of which have been occupied long-term–are situated in one of Dearborn's most successful neighborhoods. But like much of the city, image isn't everything. The city of Dearborn has been one of Michigan's hot spots for foreclosures since 2007, and some residents believe a glut of unoccupied, bank-owned properties are devaluing their property, and are undermining Dearborn’s closely-knit neighborhoods. Marium Wilkie, a resident of Andover Street and a local realtor, has lived in her home for 14 years, and said the biggest effect of the foreclosure crisis has been the value of her home. "We put a lot of work into this home…
Lee Jacobsen
11:27 am on Thursday, November 3, 2011
Toto, regarding your last comment, ....if they can see our 'entire lives record' (sic), they can determine a value, and if all you expect is a pittance in return, then don't be surprised if that is what you get. I expect more from the folk working for us, and transparency is an obvious way to see the results. I consider the rest of your comments to be from the Land of OZ, but those are strictly … more ›