Housing Auction Saves Buildings In Baltimore
Often times it is difficult for distressed housing to be taken out of delinquent property owners hands. In Cincinnati this has often led to neglect and demolition of buildings, many of which are historic. Could Cincinnati learn from a program in Baltimore that puts delinquent properties up for auction? More from The Baltimore Sun:
The changes brought by Vacants to Value are creating enough sales volume to make the system financially viable, said board member Bill Romani, one of founders of One House at a Time, started by an attorney who bought his home through a receiver.
“You have a very hard time doing it at a volume to be able to make money doing it,” he said. “As the Vacants to Value program has grown and made more of an impact on neighborhoods, so has One House at a Time.”