Phoenix Homes for Sale - President Obama talks Real Estate
The following question was asked to President Obama on August 7th, 2013: I live in the greater Phoenix area. My neighborhood has been hit very hard by the foreclosure crisis. Things are finally starting to look up, but we're certainly not back to pre-recession values. How is the administration planning to help homeowners in areas like Phoenix regain our footing?
President Obama talks Real Estate - REPLY: Well, there were some areas like Phoenix like Las Vegas parts of Florida that had been especially hard hit so in the immediate after math of the crisis one of the things that we did was to get a special fund allocated to those states; specifically to help some of those communities. In some cases it meant more hands on help and kind of counseling for homeowners in these areas. In some cases it was a question of local communities finding ways to get some of the foreclosed properties off the market or at least stabilized so they weren't depressing adjoining properties.
We are continuing to work with the Mayor of Phoenix, the Mayor of Las Vegas those communities that had been especially hard hit. In some areas one of the questions is are there so many foreclosures and abandoned properties that it actually pays off for us to either repair them and put them on the market as rental properties or alternatively in certain areas of the country where these are really run down properties go ahead and tear them down.
The advantage of putting these on the rental market is obviously if someone is living in them their more likely to maintain them and it creates the kind of atmosphere that allows properties to go back up. We've got a lot of creative programs like that what we want to make sure is there are enough resources coming out of congress and the Secretary of Housing and Urban Development, I know has a number of ideas about how we can have even more of an impact in revitalizing some of those communities that have been hardest hit.
In a place like Phoenix we've actually seen 20-25% home values increases in property values because people are feeling much more optimistic about the future then they were before and we're also seeing more housing construction going on. This all tells you that there's still plenty of demand out there we've just gotta make sure that we get everybody firing on all cylinders to get the, to maximize it.
Phoenix Homes for Sale - President Obama talks Real Estate
Phoenix Homes for Sale - President Obama talks Real Estate
Angie Johnson
Realtor | SFR
Angie Johnson Luxury Group | Realty One Group
7975 N Hayden Rd | Scottsdale, AZ 85258
Cell (480) 352-0200
Direct (480) 570-5500
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