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Georgia leads in mortgage delinquencies; AJC

Foreign buyers invest in Georgia homes; AJC

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Piece by Piece Update

September 2, 2011  





We thought the following news items and announcements would be of interest to you.  Please continue to share your feedback with us. 


Gwinnett County Homeownership 

Gwinnett MapGwinnett County has produced video spots for TV Gwinnett

(local cable) to inform and educate consumers about Gwinnett homeownership programs.  The video link below includes a focus on Gwinnett's NSP program.  Bill Kingsbury, Director of Gwinnett's NSP Program, and Tom Merkel, CEO of the IMPACT Group are featured as panelists. MORE


Gwinnett County has also produced a series of housing-related public service announcement videos that have aired on TVGwinnett and are streamed on the County's website.  The spots feature NSP, Down Payment Assistance Programs and Homeowner Housing Rehab Programs.



A Rentership Society?


Excluding delinquent borrowers, the homeownership rate which officially stands at 66.4%, would instead by 59.7%, according to a Housing Market Insights report released by Morgan Stanley.  The demand for shelter is growing, but the lack of mortgage credit will drive this demand to the rental market at the expense of the owner-occupied market.  As household formations grow and distressed liquidations continue, the demand for multi-family and single-family rental units will likely increase.  Read the full report here.



Wells Fargo/Wachovia Mortgage Foreclosure Prevention Workshop


Wells Fargo is hosting a signature single servicer home preservation (foreclosure prevention) on  September 8th & 9th at the Georgia World Congress Center.  Details are provided on the attached flyer.  Customers are encouraged to register online.  MORE



Converting Red Fields to Green Fields - September 7


Red Fields to Green Fields - September 7Georgia Tech is leading a national research program to evaluate the potential impact of converting financially distressed commercial real estate to greenspace and parks with the added benefit of creating jobs to rebuild our cities' infrastructure.  Atlanta is one of the 11 US cities that have been selected as focus areas.   Join Kevin Caravati, Georgia Tech Research Institute and Christopher Norman, Fulton County/City of Atlanta Land Bank Authority (PBP Partner) for a forum session on September 7 from 12:30 to 2:00 p.m. at the Centergy Building at Technology Square. MORE



Neighborhood Summit to include workshop to help neighborhoods manage impact of foreclosures


The Civic League for Regional Atlanta's annual Neighborhood Summit will include a workshop aimed at giving neighborhood residents the information needed to help manage the impact of fo

reclosures on their neighborhoods. From the Summit:


The Empty House Next Door: Managing the Neighborhood Impact of the National Foreclosure Crisis   The lingering results of foreclosure can be seen in every neighborhood in metro Atlanta. Foreclosures not only impact families who lose their homes, they also lead to a numb

er of disastrous outcomes for neighborhoods - increased violent crime, vandalism, lower property values and lower tax revenues for local 

What do you think of the Neighborhood Summit?
What do you think of the Neighborhood Summit?

governments. And the problem is only getting worse. Data from 2010 Census reveals that the 10-county region has nearly 200,

000 vacant and abandon homes. But there are measures residents and neighborhoods can take. Join us for a panel discussion on steps that concerned neighborhoods can take to manage the fallout of the foreclosure crisis.

Come hear about:

- an Atlanta neighborhood that is working collaboratively to ensure a brighter future for current and future residents;

- what measures one Henry County municipality is doing to respond to the crisis; and

- an exciting  initiative underway making an impact on Douglas County neighborhoods.


Now in its third year, the Neighborhood Summit is scheduled for Saturday, September 24. The event has drawn more than 500 attendees each year and features a variety of topics. For more details visit www.NeighborhoodSummit.org.



Land Bank Demolishes Homes in Cleveland; Lenders Help Pay the Costs


The Cuyahoga County Land Bank in Cleveland has brokered a deal with some of the country's biggest lenders to help pay for half of the land bank's 700 scheduled demolitions according to a recent piece on National Public Radio (NPR).    Lenders pay $3,500 to $7,000 per house.  "We want to make loans on an ongoing basis, and to do so, we need stable to rising home values," says Wells Fargo's Russ Cross.  "We've got to do whatever we can to protect home values in neighborhoods."  Read the transcript here





Susan Adams

Piece by Piece Coordinator  





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