Lincoln Neighborhood Community Alliance

I noticed there were eight houses for sale in a three block radius east of 39th. None are moving? Are they over pricing? I'm wondering if the neighborhood can remain stable or is this it?

By Wondering aloud

losing the battle

I think some people have lost their houses to bankruptcy or foreclosure; others are still in, trying to sell. They may have to lower the price, or take the house off the market until times get better.

The problem is that working class people and moderate income people are going to have a much harder time getting a mortgage loan witihout a substantial downpayment and rock solid proof of income. Lenders are scared, and credit has dried up. Some of that isn't bad - lots of the ''bad loans'' souldn't have been made, and don't get me started on the predatory sellers of home equity loans/lines of credit to people who didn't understand what they were signing away. Or who were sold on the notion thaat houses would always appreciate in value...

For someone with some money, this is a great time to buy, but I'm not sure the folks with money are looking at Piggsville Heights...

No, I don't think ''this is it...'' but I do think we are in for a rough patch, and, of course, vacant houses bring many problems.

Lucy Cooper

Housing

There are some 1000 new condo units available downtown. It is the starter house owner that would be interested in this area, generally young families. I think it is a combination of uncertainty and the expectation of prices coming down more that is slowing the house sales. Fortunately it is winter and we don't have to worry about crime too much. Hopefully the houses will start to sell this spring.

By 323

Market Sucks For Sellers

If you read the business section of newspapers and catch the news the housing market for sellers and for buyers somewhat is very bad right now due to the predator lender scandal, etc.
It is not predicted to improve for a year or more.

I would be careful for what you wish for in moving properties for sale in a ''short period'' of time. Historically a buyers market in the area mentioned can bring about the very worst in rental property owners. :ong time residents here have seen this over and over again.

I'd rather live with some vacant properties till things are better and eventually get some quality homeowners who will be living in the homes.


By 40th Street