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Middletown is a Top Place to Buy |
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John Beagle
MUSA Official Joined: Apr 23 2007 Location: Middletown Status: Offline Points: 1855 |
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Posted: Feb 08 2010 at 9:19am |
If you've been thinking about making the jump from renting to home ownership, now is the time to do so. Or so says Forbes Magazine. Middletown was named one of the top cities (number four to be exact) for renters to become buyers. The government has been encouraging this kind of behavior by introducing and extending a tax break for first-time homeowners, as well as keeping federal tax rates at their lowest rates since the 1940's
Full Article: http://middletownusablog.blogspot.com/2010/02/middletown-is-4th-best-place-to-buy.html |
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lrisner
MUSA Citizen Joined: May 26 2009 Status: Offline Points: 330 |
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The trouble is John, that many fear,as I do, a farther decline in Property Values in the Middletown Area.
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Nelson R. Self
MUSA Citizen Joined: Oct 03 2009 Status: Offline Points: 279 |
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John -
In 2008 some 60 first-time home buyers chose Middletown as their place of residence thanks to the HUD-funded Down Payment & Closing Cost Assistance (DPA) Program promoted by the Community Development Division of the Planning Department..
In 2009 only 20+ first-time home buyers participated in the down-sized DPA Program that was de-emphasized by Miss Judy and Doug.
Forbes Magazine confirms what I've been saying. The new emphasis of Miss Judy and Doug on heavy-handed Housing Code Enforcement and Residential Property Demolition (at the expense of the DPA Program) has hurt Middletown. Then there's the $2.144 Million from HUD (Neighborhood Stabilization Program - Round One). How much of this "RESIDENTIAL FORECLOSURE PREVENTION" grant has actually been used to assist first-time buyers in purchasing formerly vacant, foreclosed homes in our new 54% lower-income City?
Joshua and A.J., there's alot for you to explore regarding these (AND OTHER MATTERS)!
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wasteful
MUSA Citizen Joined: Jul 27 2009 Status: Offline Points: 793 |
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Big difference between Middltown being #4 and the MSA of Cincinnati-Middletown, Ohio, Kentucky and Indiana area being #4. |
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Bobbie
MUSA Citizen Joined: Jun 05 2009 Location: Middletown Status: Offline Points: 288 |
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Does anyone have the link to the article. Middletown is linked to the Cincy market. I would love to see if it states Middletown individually or just this geographical area. If we are linked just by this tract that really does not mean anything to Middletown.
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wasteful
MUSA Citizen Joined: Jul 27 2009 Status: Offline Points: 793 |
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acclaro
Prominent MUSA Citizen Joined: Jul 01 2009 Status: Offline Points: 1878 |
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The article lists the most depressed areas in the country and the declining value. The fact it staes value, means property values which have plummeted. That includes DC by the way, which has a strong employment rate, but was hit hard in the housing bust. I don't in the least least, view this article as being positive, or its good the Cincy metro area (this has little to do with Middletown), is in the mext of other areas which have seen plummeting values.
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Mike_Presta
MUSA Council Joined: Apr 20 2008 Location: United States Status: Offline Points: 3483 |
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Here is a link to a chart from a Cincinnati Enquirer story about the growth between Cincinnati and Dayton:
Note that only two cities between Cincinnati and Dayton experienced NEGATIVE growth from the year 2000 to the year 2008. Those two communities??? Middletown and Kettering.
I'm not speculating as to why, not floating any conspiracy theory, not trying to be negative. I'm simply pointing out a fact that screams out for an explanation within the context of the larger story.
Here is the link to the larger story "Cinton? Daynati? We're one city now" : http://news.cincinnati.com/apps/pbcs.dll/article?AID=/AB/20100207/EDIT03/2070327/
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“Mulligan said he ... doesn’t believe they necessarily make the return on investment necessary to keep funding them.” …The Middletown Journal, January 30, 2012
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Nelson R. Self
MUSA Citizen Joined: Oct 03 2009 Status: Offline Points: 279 |
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Mike -
The revamped and highly successful HUD Down Payment/Closing Cost Assistance (DPA) Program of the City assisted 60 first-time home buyers in 2008 in purchasing mostly vacant, foreclosed homes!
These 60 HUD forgivable loans represented about 11% of total single-family residential sales for 2008. Moreover, roughly 60% of the moderate-income working class home buyers moved to Middletown from nearby areas. And, about 50% of the homes purchased were situated in portions of Ward Three where vacancies and foreclosures were starting to have a major negative effect on neighborhood stability, plunging property values, as well as routine property maintenance. Most of the balance of assistance enabled similar homebuyers to purchase homes in marginally stable portions of Wards Three and Four!
In Ward Two our priorities were owner-occupied housing rehabilitation, emergency home repair, "proactive" housing code enforcement, acceptable Section 8 rental property maintenance and residential property demolition. For both 2007 and 2008, we averaged 15+ property demolitions per year.
I've also mentioned the success of the Home Buyer Education classes that were held during my brief stay with the City. Then, there was a very close relationship developed with target area neighborhood residents, local real estate professionals through the Middletown Board of REALTORS, plus local mortgage bankers. That is all history now. Beginning a little more than two years ago, we conducted a highly-visible marketing and outreach strategy that promoted Middletown as having highly affordable home ownership opportunities plus attractive financial incentives. NOW THAT IS ALL GONE.
You got what you wanted Miss Judy and jettisoned me in the process. Has your Housing Code Enforcement plus Residential Property Demoliton Programs stabilized dilapidated, declining and vulnerable neighborhoods in Middletown? I think not.
I remember the summer of 2008 when you had some of my staff organize a bus tour of potential residential demolition candidates. At that time I had 23 properties on my action list once new funds became available. I recall you asking me in front of 15 City staff members and one or two City Council members how many houses could be demolished if ALL of the CDBG funds were dedicated for that purpose. And, I vividly remember your comment shortly after you arrived here, "I'm not very well versed in HUD programs and affordable housing matters."
YOU WERE THEN AND STILL ARE CORRECT IN THAT SELF-ASSESSMENT.
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wannaknow
MUSA Resident Joined: Feb 21 2009 Status: Offline Points: 138 |
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Mr Self, I feel compelled to comment on your posts that I have seen on a lot of forums. They are always large and colorful as well as frequent. I just skim over them now because they say the same thing you have been saying for quite a while. I don't want to offend you by asking what you are trying to accomplish by this. It's obvious you were treated badly when you lost your job, and it's obvious you are angry but why post your anger repeatedly? If there was a misuse of funds and you have that knowledge why haven't you notified the proper authorities? If this is true then surely an investigation is in order and no one knows the facts as well as you do. I'm sure you've heard the phrase "someone should do something" and wondered who the mystical someone is. In this case You are the "someone". This whole fiasco seems to be impacting your physical health and consuming your thoughts. I have been in a situation similar to yours. I finally took the bull by the horns and did all I could to rectify things. I'm not going to say it worked out well but it got it off my shoulders. I did what I could and then I let it go. In my opinion this would be a good course of action for you to take so you can get over it and get on with feeling better about things. Again, I don't want to appear rude. I only respond to your posts because I see a lot of pain that you are dealing with. It won't go away until you deal with it in a constructive manner.
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