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Buffalo's In Rem Foreclosure Auction

Kathleen Feroleto — Dec 3, 2009

The increase in tax foreclosure and property abandonment over the past five years has created an abundance of vacant properties in the City of Buffalo.  In fact, Buffalo has the third highest vacancy problem in the nation, with between 12,000 to 18,000 vacant buildings.  Buffalo trails only Detroit and New Orleans among the 100 largest cities.  Although the subprime mortgage crisis did not hit Buffalo as hard as many other cities, tax foreclosures have risen over the past five …

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Marketing City-Owned Properties

Corey Rossi — Apr 30, 2008

An effective housing strategy must incorporate efficient disposition of city-owned property.  A successful disposition program should include a marketing campaign that facilitates the transfer of city-owned property to productive use.  Last year, the City of Buffalo initiated a marketing program that assisted in the sale of 125 homes.  A major component of this marketing program was a catalog of City-owned homes.  The City distributed the catalog to local nonprofits, …

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Existing and Potential Remedies for Illegal Flipping in Buffalo, New York

Scott Mancuso — Apr 15, 2008

The City of Buffalo should amend the documents used at the annual In Rem foreclosure auction to require more information from bidders and purchasers under penalty of perjury, thereby making it easier to detect, deter, and punish parties interested in purchasing properties to illegally flip them.  There are already more abandoned houses in the City of Buffalo than it can even keep track of.  These houses lower property values of surrounding homes in already distressed neighborhoods and …

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Preventing Tax Foreclosures in the City of Buffalo

Mike Streit — Apr 14, 2008

Over the past three years, tax foreclosures have risen approximately 150% in the city of Buffalo.  While tax foreclosures are spread across the city, they are heavily concentrated in the Masten and Fillmore districts of the city.  To combat the increase in tax foreclosures, Buffalo should study the principle causes of tax foreclosures in the area and be prepared to provide financial education classes, payment plans extending for more than one year, and financial assistance to …

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