Foreclosure crisis in Ohio? There are so many layers and levels to this issue it’s impossible to tackle it all right now, however, the one issue that most concerns me today is education.
If you read this blog frequently, you know that education is important to me. I want my clients, my customers, and readers to be educated. There is no more pressing issue to me than to make sure people know what they are doing when they are buying a house. Whether or not I’m representing you- please know what you are doing.
I’ve been accused of giving out too much information! Huh? You kiddin’ me? Someone is about to make what is likely the biggest financial decision of their life, how in the name of all that is good and just in the world can I give them too much information?
A story: I once had clients who were purchasing a derelict property in Dayton. A whole house inspection is always recommended, but obviously with this property it was imperative. So they contracted with 1st Inspection Servicesto do the inspection. Paul Updyke spent a few hours at a 1200 square foot house crawling around, over and under this property, sweating like a pig, to give my clients a thorough inspection: Photos, examples, taking the time to show my clients every little thing he could find “wrong” with this property. That’s what he gets paid to do. Every house has flaws, inspectors get paid to find flaws, you want to know the flaws. Trust me on this, you really want to know the flaws. Anyway, within a day we had the report. 60 pages of report for a 1200 square foot home: Photos, comments, recommendations; a very thorough and concise record of this home and it’s flaws.
I’m concerned. I want to make sure my clients understand what this means so I sat down with them and we went through the report. They were none too happy about this. They wanted me to gloss over the bad stuff and even asked me if I was trying to persuade them to back out of the contract. You know what? I’m okay with them asking that- it means I’m doing my job. My job is to do what is in your best interest. To me, that includes educating you as best I can so that you understand what you are doing when you buy a home.
A real estate agent, me, is hired for a myriad of things: Experience, knowledge, ability. A real estate agent might have all of those in abundance, but if they are not sharing it with you, if they are not educating you during this most important purchase… Well.
What does this have to do with foreclosures? We have reached that place in real estate history where a crisis has occurred. Crisis is painful, but crisis forces change. You, as a real estate consumer, will no longer be comfortable taking someone else’s word for it. You will no longer blindly accept that all the people involved in this transaction are looking out for your best interests. The vast majority of us are looking out for your best interest, by the way, but you will no longer blindly accept that. You are going to want information, statistics, knowledge. You are, in other words, going to want demand to be educated. For real estate agents like me, this can’t come soon enough.
Indulge me another story: My broker, David Cooper, and the brokerage, EXiT Realty Central, have nothing to do with this blog. This blog is me, Theresa Lussier. I had this blog before I started working with EXiT Realty and, since real estate agents are independent contractors, I don’t check with them before I post. Everything you see here is me, so much so that David recently told me that he was a bit uncomfortable with the information I was giving here. The information I share here is not wrong, or illegal, or unethical. And he’s okay with me giving out this information, he’s simply not accustomed to seeing a lot of real estate information given out. You know what? I’m okay with his discomfort.
Which brings me to Ohio foreclosures. While I think that the Governor’s smiling head shot has no business beaming back at you on a foreclosure crisis website, the fact is that the Save the Dream website is a wealth of information, education, and a consolidated place to go if you find yourself in trouble, or hopefully to prevent you from finding yourself in trouble. There are phone numbers, website links, videos, articles- it’s a good place to go to get educated. The information is easy to obtain, easy to share, and can prevent crisis.
Yes, all this information given before a purchase would have prevented this crisis. Yes, everyone involved in real estate transactions, everyone, has a part to play in creating this crisis. But you know what? Whatever we are going through right now, we won’t get fooled again.
Holt Street Miracle Center
Phone number: 937-222-7420
Lutheran Social Services of Midamerica/Consumer Credit Counseling Service of the Miami Valley
Phone number: 800-377-2432
Toll Free number: 800-377-2432 http://www.graceworks.org
Chris,
Maybe I’ve not had enough caffeine myself, but I’m not following…?
An inspection rarely kills a deal, though, I can tell you that. They are mostly informational and for negotiating further terms- taking care of issues that affect living conditions prior to exchange of escrow.
In this case, the house was bank owned, so sold “as is” but an inspection unearths issues pertinent to safety. I simply wanted the buyers to know exactly what the issues were, they did not want to take the time to go through the report.
Nice article. Hope to read more interesting articles from this site. I think real estate can bring good source income but it is quite tough for a beginner.
Great post. Just remember another useful tool in the industry is the forensic audit of the mortgage as well.. I work for a law firm and deal with this stuff on a weekly basis..
Dayton has always been bike friendly, but now is the time to capitalize on it
When we were really young, we rode our bikes to a neighborhood woody lot and biked around dirt paths. Today you need a special bike for this, but I used my blue coaster bike with the headlight, big white saddle seat, the mud fenders and balloon tires. It had a little spring closure carrying rack on the back- good to clamp your balled-up jacket in and not much else. As I got older, like most people my age, I used a bike as a main method of transportation. I lived in a semi-rural neighborhood and rode miles and miles unmolested by traffic, and I had tons and tons of fun doing it! Perched precariously on those skinny 12-speed racing bike tires, I’d careen down long hills praying I didn’t hit a gravel patch in just the right way and have the tires shoot out from under me, sending me onto the pavement. Helmet-less, of course. We always rode helmet-less.
I’ve always owned at least one bike. Think about riding a bike: There is a sense of freedom and exhilaration that does not happen when driving a car. You are unencumbered by stuff. Just you and the road and the bugs in your teeth.
Independence Day, the New York Times published Bike Among the Ruins on the Op-Ed page. Toby Barlow writes about biking in Detroit, but the same could be written about Dayton:
While bike enthusiasts in most urban areas continue to have to fight for their place on the streets, Detroit has the potential to become a new bicycle utopia. It’s a town just waiting to be taken. With well less than half its peak population, and free of anything resembling a hill, the city and its miles and miles of streets lie open and empty, beckoning. And lately, whether it’s because of the economy or the price of gas or just because it’s a nice thing to do, there are a lot more bikers out riding. ...
Arcade Rehab to start: We want to impress the city.
New owners still interviewing contractors, but restoration of the facade to start in August.
DAYTON — The new owner of Dayton’s historic downtown arcade says work on the exterior of the five-building complex will be evident by the next Urban Nights event on Friday, Sept. 11.
Restoration of the facade will begin in August with power washing of the exterior as a way to announce the arrival of work crews
“We want to impress the city,” said Gunther Berg, who along with partner Wendell Strutz bought the Arcade at a Montgomery County Sheriff’s Office tax lien sale on March 12
Berg said he is researching different types of glass to replace windows in the arcade’s landmark dome, 70 feet high and 90 feet in diameter. ...
Volunteers Sought for Mediation Training The Dayton Mediation Center, a City of Dayton agency providing free or low-cost mediation services to individuals, families, and organizations, is offering training for citizens interested in learning to serve as volunteer community mediators. Volunteer mediators help resolve conflicts and reach understanding on a variety of issues, including neighborhood problems, workplace concerns and elder care decisions. Candidates are expected to attend training sessions on August 15, 20 and 29 and to commit to volunteering at least monthly for 18 months. For more information, contact Michelle Zaremba at 333-2345.
Dayton Daily News finally catches on to the corporate welfare BS.
Today, the Dayton Daily News editorial board finally agreed with a position I’ve staked out as one of the primary threats to our society: Corporate welfare.
It’s a stunning turnabout for a company that has never met a tax break they didn’t wholeheartedly endorse. The ones for Reynolds & Reynolds, Relizon, Workflow One etc- were all great by their reporting. Bill Pardue and his QBase reality distortion field- where governments should not only fund his startup, but then hire his firm- hailed as innovative. And, then the NCR debacle, where our Ohio politicians hadn’t talked enough about how we should drop our drawers to the almighty Bill Nuti and his extortion machine.
If you look at todays paper, their hypocrisy is evident, where they rail against the tax break, but fail to hang Congressman Turner for his willingness to sell out to NCR as long as they are a Dayton business.
They take the tax break system apart gently, as a ruse to give money to big companies for promises written on paper as useless as yesterdays news- ...
Barriers to Regionalism
The Dayton Business Journal has some extensive reportage on regionalization issue due to a recent panel discussion hosted by the D B-J. There will be another panel discussion about Southwest Ohio regional economy in July. ...
It seems the barriers to conventional city/county merger form of metropolitan government are insurmountable in this area, though it is heartening to see Joey Williams and Dan Foley taking the lead on the issue (from the political side). Yet, the local business community seems to be finally getting behind the concept, if the Business-Journal interest is any indication. Still, no clear champions have surfaced from the private sector to really push the issue, which is in itself a big local weakness.
Since governmental merger is a non-starter, perhaps people need to get creative and look at different approaches at regionalization. Since the big regional concern is economic development...the weak local economy, which crosses city and suburban boundaries...that should be were regional efforts should concentrate, since it is the one area were people agree something needs to be done.
Getting the Word Out, are We Selling Ourselves Short?
(...) Since I haven't seen us in print, I decided to look online. Here's some of our local business development info:
Ohio.gov isn't bad for small business and start-ups
Ohio's "development" site where apparently we're The State of Perfect Balance. And I must be having browser problems because most of the tabs/links don't open for me.
OhioMeansBusiness, yet another state site.
Dayton Development Coalition targeting Aerospace R&D, Information Technology, Advanced Materials & Manufacturing, Human Sciences & Healthcare, and most recently the region's water supply. The Coalition has been very aggressive with BRAC stuff and advocacy in Washington. Maybe it's advertising in Texas and around other military bases that are closing or downsizing. As for the site, I can't tell if the it's promoting the region as much as it's promoting the work/efforts of the coalition. Perhaps it's a little of both.
Business First - Montgomery County's efforts to reach out to local businesses as a retention/expansion tool. Sit down with us and we'll see what we can do for you. There's also additional information on the County's economic development page. The County's website is awful. Check out the URLs. How would anyone fine anything on it? (...)
The Dayton region landed a big victory Wednesday, as the state is awarding $3 million to create the Center for Unmanned Aerial Vehicles Exploitation in the region.
The Ohio Third Frontier program is allocating the funds to the University of Dayton’s IDCAST, which submitted the proposal for the UAV center.
The 6,000-square-foot UAV center will be located in the 25,000-square-foot Air Force Center for Rapid Product Development, at 104 Janney St. in Dayton.
The project advances unmanned aerial vehicle technology by supporting research for national security and emergency response applications.
The project is a collaboration among a handful of local organizations including the U.S. Air Force Research Laboratory, BAE Systems and UltraCell Corp.
A coalition of organizations and companies have formed an alliance in the past two years centered around forging the region as a hub of UAV research and manufacturing.
UAVs, also called drones, are remote controlled aircraft that don’t carry pilots, thus preventing airmen from flying into dangerous areas. …
Growing America: Student Run Farm and Farmers Market
The Ohio State University, The PAST Foundation and Metro High School in Columbus have teamed up to create a student-run farm and farmers market through its new Growing America program. This program has been created to introduce students to farm planning, design, management and operations, plant growth and development, and produce marketing through a small-scale farm and student-run farmers market. The project is led by teacher Neal Bluel, who is a Botany/Research faculty member with the school. The farm will be at the Waterman Dairy Farm on Ohio State’s campus. The farmers market will run from July 25 to Aug.15 at The Metro School,...
Building codes, sprawl and value.
Bill Pote over at Dayton Most Metro has a long post and a small comment debate going on about how restrictive building codes and over-the-top requirements are making redevelopment severely expensive at the cost of much of our existing infrastructure- and empowering sprawl. He asks:
But have we made these codes so restrictive that we’ve destroyed any good chance of bringing our long-vacant downtown buildings back to life? Is there any room for some flexibility and compromises that still ensure proper safety AND make it cost-effective to redevelop and re-inhabit our downtown buildings?
via Restrooms, Elevators and Sprinklers - Oh My! | Dayton MostMetro.
I’ve asked the same question for a long time (search old posts).
There is no doubt in my mind that many of the codes have been pushed through legislation by the building trades. Other rules come from the Americans with Disabilities Act, fire safety, environmental rulings (no more incinerators in homes like the one I grew up in). Many are well intended and good. As Pote points out: “I suppose we could just say to hell with handicapped folks and just make downtown a handicapped-free zone, but that would ensure Dayton’s position on Forbes’ list of the Top Ten Asshole Cities.” ...
Address to Address Planning on the RTA
The Greater Dayton RTA now has an address to address trip-planning service right on their main landing page. This is great - I find the maps and route tables confusing as all get out. Unfortunately, this is also as they're planning service cuts and rate increases. I was against that kind of move in 2007, and I still am today. Gas prices lowered again during the fall of 2008, but they're starting to come back up. In the long run, I think that lowering was a fluke, not the trend. Public transit will become more important, and Dayton will hurt itself by reducing its public transit capabilities.
Is there about to be a water war in Dayton?
Our water source is a huge aquifer underneath Dayton. We have so much good, potable water that we even pump millions of gallons of it in the air every hour at Riverscape. But, a source told me today that Montgomery County and the City of Dayton have reopened the water contract and things could get interesting, soon.
The contract that’s in place wasn’t due to be renegotiated until 2016. The county has been threatening to build its own well field at Crane’s Run for years. The last deal put that proposed plant to sleep, however, in an attempt to “save” money, the county may be threatening to build it again so as to renegotiate rates. This is coming when Dayton is looking at a huge surplus of capacity supply ...
The Air Force Museum and the National Park
DDN editorialist Ellen Belcher opened up an interesting discussion with her op-ed on the relationship of the National Musuem of the US Air Force and the Dayton Aviation National Historic Park.
The Air Force Musuem is one of the great tourist attractions of Ohio, and it's free. So is the National Park (at least the parts that are actually controlled and staffed by the Park Service). And co-0peration between Wright-Patterson AFB and the National Park Service is ongoing, though not as visible as during the establishment of the park. In fact, this partnership is written into law, into the enabling legislation establishing the historic park.
But the question for local boosters is how to tap into this tourist flow to the Museum. ...
Dayton Area Home to American Icon
Next to the American flag one of the most popular images that portrays American patriotism is that of the Bald Eagle. Though no longer on the endangered species list it is a federal offense to kill a bald eagle. Most American Bald Eagles are found along the West coast, specifically in Alaska, Canada and as far south as Mexico. They have also been on the "threatened list" in Michigan, Wisconsin, and Minnesota.
And we have four right here in the Dayton area, near Wright Patterson Air Force Base!
Bald Eagles, by Ron Alvey from the Dayton Daily Newswebsite
Living on the Dayton/Riverside boarder I've had frequent occasion to drive Harshman Road between Airway and Rte. 4. Just at the northern-most entrance of Eastwood Metropark I frequently see 5-10 people at a time huddling at the edge of the park, facing the Air Force base from dawn until dusk with binoculars and cameras. I always wondered what they were looking at....
UniGov- a hot topic since 1967?
Thomas Suddes makes a case for UniGov in today’s Dayton Daily News.
He’s dead on, except at this point, this amounts to kicking a dead horse:
Ohio also doesn’t need its 700 “special district” governments, such as port authorities and fire, park, etc., districts. All that brush just hides which typically unelected folks caused which mess.
• Ohio doesn’t need horse-and-buggy counties and should require (not just allow) each county’s voters to simplify its government. Cuyahoga County is the poster child, but 87 others are antiques, too.
It’s ridiculous to elect coroners and engineers and sheriffs. Each county should elect a legislative body by districts (whether legislators are called “commissioner” or “councilor” or “exalted floorwalker of the first chop”); elect one countywide executive; and elect a prosecuting attorney. That’s it.
via Thomas Suddes: Ohio has too many school districts, government entities.
I’ve had this copy of Dayton USA for a while, it’s from April 1967- and one of the cover stories is “How Do You Spell Modern Government?” Where Peter Dayton makes the case for UniGov.
He points out the stupidity of 25 different fire and police chiefs and says “Our only reason for residing in this area is that Dayton is a business, manufacturing, financial center. And no matter where we live, we depend on its health for our livelihood.”
Fascinating reading- even 42 years later....
Last fall, the City Council approved a $20,000 contract with Toledo-area artist Keith Hasenbalg to bring a fresh, colorful look to the downtown plaza wall at the corner of Main Street and National Road.
Could you not find anyone with talent in Englewood, Ohio? Did you look? Did you call Robin Dakin at Northmont High School to see if there were any talented artists living in Englewood you could support?
Or, how about this freshly-minted BFA from Miami University, graduate of Northmont Hight School? I know for a fact he has some student loans to pay back and $20,000 would have gone a long way toward that. Not to mention a loyalty for his childhood town.
Why do we look for “talent” outside of our own community? In a town of 25,000 or so people, I think we may ...
Why move to Dayton Ohio? It’s time to reverse the wagon train?
I had an interesting conversation the other day. A potential buyer is looking online and finds me and gives me a call. He’s a Californian. He’s a family man. He’s a hard-working construction guy. We have a long talk.
He lives east of San Francisco and has been looking for a home out there for two years. He can’t afford anything, so he starts to look elsewhere. For some reason he looks at Dayton Ohio. “I could pay cash for a house in Dayton.” Yes, yes he could. I have to ask, “Why Dayton?” ...
Dayton’s Online Presence
I'm not an internet expert. I'm not a marketing expert. Nor do I claim to be. What we heard at the Updayton Summit is that people want to be connected. They want to know what's going on and how to...
Sensationalizing the obvious: the chicken little news
We’re facing tough times. I don’t need a newspaper to tell me that- every single day. Today there was a story about people ditching their cars for insurance money, real effect on most of us, negligible. Damage to our attitude and psyche, progressively worse.
We’ve had two bold, daylight murders- both drug related. Effect on most of us- minimal. Damage to our perception of safety- real.
The Wright Brothers were from Dayton. It’s been over 100 years since they first flew. Every time their great niece sneezes- it’s a front page story. Why?
News isn’t just writing about what happened, or regurgitating a press release. News is supposed to give us some sort of insight on what is going on around us. Make us smarter. It’s supposed to help us analyze what is happening so we can work together to solve our common problems. ...
7952 Rustic Woods Dr, Huber Heights, OH The Olympus model is like many floor plans in Huber Heights- built for usefulness without wasted space. This particular home has an addition of a front patio and a back deck which will expand the outdoor living space to make a comfortable home inside and out.
The upstairs contains 3 bedrooms and one full bath, but the window at the top of the stairs makes it light and bright instead of a dark afterthought. The main level is where you can find the living room, the dining area, the galley kitchen.
It’s HUD-owned, look here for details about HUD and bidding on HUD homes, it ain’t for everyone, however, this home, which will need new flooring and some repair work, is listing at $79,000. ...
The Landscapes of Everyday Life
A months worth of blogging on Colonel Glenn Highway, just a corner of the Dayton region. Four blog posts on New Germany, the proverbial wide spot in the road.
That there is this much to say, that there is this much backstory to what at first glance is a banal, everyday landscape is proof of the viability of a suburban studies approach to place blogging. In-depth inquiry and anayses brings out the details of how places came to be, how they developed and why they look like they do, as well as their economics and sociology. Suburbia is as rich an enviroment for inquiry as traditional cities.
There is enough history to suburbia that one can trace the evolution and development of suburban vernaculars, opening the door to a typological analyses of buildings and developments as well as entire suburbs, not to mention uncovering places like New Germany that have been subsumed the great wave of postwar development. ...
Four New Ohio blogs on Prosperity, Revitalization and Preservation
The Restoring Prosperity Blog, brought to you by Greater Ohio, is the first step in utilizing better technology to spread the message about the Restoring Prosperity to Ohio initiative. The blog is intended to keep people up-to-date on legislative, research and outreach activities conducted by Greater Ohio. It will also act as a community forum through which cities throughout Ohio can contribute feedback on the Restoring Prosperity legislative agenda, communicate with other cities to identify best practices, and propose new outreach activities and research ...
Pave more roads or free bikes? Stimulus for the future
While everyone seems excited about getting Federal Stimulus dollars, spending them on existing infrastructure doesn’t really stimulate much for very long. Real change means changing the infrastructure to make Dayton a more desirable ...
“Strategic Building Re-use Study”
The Downtown Dayton Partnership released it's downtown building re-use study last week. 10 designs for for various buildings and sites, mostly focused on east of Main Street.
The Partnership's website has the details, with full coverage of the graphics and narratives and pix of buildings. Link here and be inspired (or depressed, when one realizes the good design talent here that is going to waste) ...
In these times, it’s great to immerse oneself in the arts. Dayton has a panoply of options for the art lover.
Today I’m visiting the Dayton Art Institute. I hope you find the time to come enjoy their free exhibits and also peruse some of the traveling exhibits too. ...
Great Post Terri.
When I want to the NEWERA realtor meetings, circa 2003, inspecor after inspector would say, “I’m not gonna kill your deal.”
My thought was: why not? None of the Realtors I knew would want their clients to be in a nasty house, you are buying the PERSON not the REALTOR.
March 19th, 2008 | #
You are buying a service from a realtor, not a house. My brain has not been cafinated.
March 19th, 2008 | #
Chris,
Maybe I’ve not had enough caffeine myself, but I’m not following…?
An inspection rarely kills a deal, though, I can tell you that. They are mostly informational and for negotiating further terms- taking care of issues that affect living conditions prior to exchange of escrow.
In this case, the house was bank owned, so sold “as is” but an inspection unearths issues pertinent to safety. I simply wanted the buyers to know exactly what the issues were, they did not want to take the time to go through the report.
March 19th, 2008 | #
That sounds like alot of stuff. Luckily the Singapore property market is spared from the spat of foreclosures.
September 18th, 2008 | #
Nice article. Hope to read more interesting articles from this site. I think real estate can bring good source income but it is quite tough for a beginner.
February 22nd, 2009 | #
Great post. Just remember another useful tool in the industry is the forensic audit of the mortgage as well.. I work for a law firm and deal with this stuff on a weekly basis..
October 12th, 2009 | #