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500+ Middletown Home Foreclosure Listings
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Nelson Self View Drop Down
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Points: 144 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Nelson Self Quote  Post ReplyReply Direct Link To This Post Topic: 500+ Middletown Home Foreclosure Listings
    Posted: Aug 06 2010 at 10:26am
500+ FANNIE MAE/OTHER HOME FORECLOSURE LISTINGS
 
As per the following Fannie Mae link, there are twenty-seven (27) vacant, foreclosed homes on the market with all selling for $81,900 or less.  The vast majority have asking prices less than $50,000.  With this being the case, why are One Donham Plaza staff paying over $100,000 for other vacant, foreclosed homes?  Why are they spending up to $90,000 for rehabilitation purposes.  Why are the planning to lose up to $75,000 for some of the homes that they ultimately sell?
 
 
See the following Middletown home foreclosures link.  Over 500 listings!  Most under $80,000!
 
 
The link at the end of this last paragraph further reinforces the fact that there are an ABUNDANCE of modest priced foreclosed homes currently on the market in Middletown.
 
With so many options for purchase, why are the 4th floor experts at One Donham Plaza on their HUD-funded NSP-1 SELECTIVE SHOPPING SPREE?  And, where are City Council approved Policies and Operational Procedures for City staff to follow in determining which properties to purchase and later resell?
 
Are there legitimate controls or is this another case of BUREAUCRATS KNOWING WHAT'S BEST FOR US MIDDLETONIANS?
 
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Nelson Self View Drop Down
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Points: 144 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Nelson Self Quote  Post ReplyReply Direct Link To This Post Posted: Aug 07 2010 at 12:17am
What a local government that we have?? ConfusedConfused
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Mike_Presta View Drop Down
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Points: 3483 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Mike_Presta Quote  Post ReplyReply Direct Link To This Post Posted: Aug 07 2010 at 1:25am
Hmmm...are you certain this is a legitimate website?
There is a 3BR, 2Ba that looks familiar on Gage Drive listed at $112,200
“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 Self View Drop Down
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Points: 144 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Nelson Self Quote  Post ReplyReply Direct Link To This Post Posted: Aug 07 2010 at 8:50am
Mike -
 
I've already extensively reviewed FHA, Fannie Mae, Freddie Mac and other similar websites that purport to contain Middletown, Ohio foreclosed residential property listings.  Should you have even more websites, please post them.  After all, wasn't it City staff that fairly recently declared there to be hundreds of (or was it 1,000+) vacant, foreclosed homes in our City?
 
Thanks for sharing your concerns about my information accuracy.  Let me know if your continuing research finds any of these or other public domain websites to be illegitimate.
 
Nelson Self
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Mike_Presta View Drop Down
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Points: 3483 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Mike_Presta Quote  Post ReplyReply Direct Link To This Post Posted: Aug 07 2010 at 9:51pm
[QUOTE=Nelson Self]See the following Middletown home foreclosures link.  Over 500 listings!  Most under $80,000!
 
http://realestate.aol.com/listings-Middletown,OH/salestype-Foreclosures/sort-days/order-asc?flv=1[/QUOTE]
Nelson:
 
What concerns me is that I found the property below on page 9 of the website mentioned in your post above:
 
+++++++++++++++++++++++++++++++++++++++++++++++++
House%20Photo
Foreclosure save%20searchSave This
$112,200
3 Br| 2 Ba | 2,640 Sqft | Single Family
RealtyTrac
+++++++++++++++++++++++++++++++++++++++++++++++++
This seems to be the property that the City of Middletown purchased this earlier this year, but for some strange reason, the  county recorder's website does not list the sale price.  There are reports that the sale price was in excess of $130,000, but I have not been able to verify that price.
 
PARID: Q6531073000027
CITY OF MIDDLETOWN 1016 GAGE DR                        
Sales
Sale Date Sale Type Sale Amount Validity Trans # Seller Buyer
26-FEB-10 In-valid 1392 FEDERAL NATIONAL MORTGAGE ASSOCIATION CITY OF MIDDLETOWN
10-FEB-10 In-valid 962 GILLESPIE CHARLES FEDERAL NATIONAL MORTGAGE ASSOCIATION
31-AUG-07 In-valid 9558 GILLESPIE ELIZABETH GILLESPIE CHARLES
12-FEB-03 LAND & BUILDING $163,900.00 Valid 1081 BRELSFORD WILLIAM H GILLESPIE ELIZABETH
10-APR-00 LAND & BUILDING $155,000.00 Valid 2406 PECK WILLIAM A & NAOMI J BRELSFORD WILLIAM H
01-JAN-92 LAND $112,000.00 Valid
01-APR-85 LAND $15,000.00 In-valid

Primary Residential Card http://propertysearch.butlercountyohio.org/butler/Images/Reports/ee2e7522-37f3-45ad-8b41-8283f74ece42.pdf

Bedrooms: 3

Full Bath:  2

Square Feet: 2640

(Ariel photo of proerty is shown here.)
“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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Mike_Presta View Drop Down
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Points: 3483 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Mike_Presta Quote  Post ReplyReply Direct Link To This Post Posted: Aug 07 2010 at 9:57pm
Please note that I updated the previous post with links so that the usual doubters could compare pictures and verify the information that I referenced.
“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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