by G. Sax
That title is one I tried to sneak past the Star Tribune for a twice-a-month real estate piece I ghostwrite. No, it wasn’t an article about my favorite four-letter word, but I’m sure this "F" word has evoked a litany of effish expression: Foreclosure.
I know it’s not limited to St. Paul or the Twin Cities or Minnesota. I know Teresa has been writing about it plenty in this here blog with an appropriate level of disappointment toward the growing ownership of homes by financial institutions. I also know more than the average bear about what’s going on with foreclosures in the local market thanks to my affiliation with the Minneapolis Area Association of REALTORS® (MAAR).
MAAR released its Q3 2008 update of the Foreclosures and Sales in the Twin Cities Housing Market report today. What has been built is pretty sweet, and anyone who takes the time to add comments to the local MLS listings is helping to paint the best possible still life of the situation. It’s a group effort to get a handle on a growing problem.
Other markets around the country are taking notice, and inquiries for similar reports are increasing. But this isn’t a sales pitch. It’s about sharing a concept that can keep us informed, which can help us keep more properties out of foreclosure and more homes full of life and not languishing on the market with multicolored "NOTICE" placards practically begging copper fiends to stop in for (more than) a look.
Dayton’s Bluff, an older, awesome, near-downtown neighborhood in St. Paul has been attacking the problem with gusto and great ideas. The Dayton’s Bluff Fall Vacant Home Tour is on Sunday, October 26, 2008, from 1:00 to 5:00 p.m. Maps with home info and locations will available at the Dayton’s Bluff Community Council, 798 E. 7th St. at the beginning of the tour.
Their spring Vacant Home Tour saw about 300 people passing through a dozen homes. Eight were sold as a result of the tour. In advertising the October tour, I dig how the council states, "With the high cost of gas and the cost of living in general, it’s a great time to move to a neighborhood like Dayton’s Bluff."
I absolutely love the sentiment. Bring ‘em back to the cradle. Enjoy the history of our fair city. Stake a claim. Work downtown. Increase foot traffic. It can happen.
For more information about the home tour, visit www.daytonsbluff.org.
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As a Dayton’s Bluff resident, I would like to encourage people to come out to the vacant home tour. Even if you’re not in the market for a home, take a stroll through the streets and admire the amazing architecture. The neighborhood is a hodge-podge of Victorian, Queen Anne, and early Arts & Crafts, large to cozy, ornate to plain. If you’re a architecture buff, preservationist or simply love the character of old homes, this is the place for you. Many houses are rough around the edges, they just need someone with the vision to restrore them to their original grandeur. The potential is definitely there.
There are many misconceptions about Dayton’s Bluff, that is it scary or dangerous, which simply aren’t true. When I told people where I bought my house, they either never heard of Dayton’s Bluff or looked at me like I was completely crazy. The truth is that my neighbors are hardworking, normal people like you and me.
What’s great about the area is the affordability and location. Many of the homes have great views of downtown, the river or the Capitol. I also save a lot of gas because I’m close to everything. There is also the Hamm building, 3M, Globe site and Hospital Linen site redevelopment projects in the works in the neighborhood. So check out our hidden gem of a neighborhood!
Molly – I grew up on the East side on Wakefield Avenue in a 1920′s craftsman style home. There are many beautiful homes on the east side, and you are right it is affordable.