Friday, October 28, 2005

A Disturbing Trend

Empty houses in Tulsa. Here's a quick blog about a topic that has been rumbling around in the back of my mind and something brought it to memory center.

Is it just in my neighborhood or is it happening in yours also? In a two block radius of my home of 19 years, there are at least 4 houses sitting forlorn and empty. Several of them have been for more than two years now. It is a growing trend in the neighborhood and it does not bode well for the future.

These are not starter homes. They are $150,000+ homes sitting in the middle of town, in a very good location. So far the yards are being maintained, but as you know, a house that sits empty eventually looks empty and rundown.

Will this lead to lower property values and urban blight?

2 comments:

jules said...

That is due to the fact that so many people bought homes and then lost their jobs. Selling bank repossessed homes is long and arduous -- banks really aren't in the business of sellling real estate so it takes forever.

Red Bug said...

Good point. I know one of the ones in my neighborhood is tied up in the finalization of an estate. The owner died and the estate is tied up in the courts. Any other ideas?