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    Brian Keaney

    Foreclosures skyrocket across town in past 3 years

    by: Brian

    Wed Dec 03, 2008 at 12:21:30 PM EST


    If  you saw the news the other night or listened to NPR yesterday, you learned that we have seen a surge in foreclosures this year.  There are over 100 homes in some state of foreclosure in town right now, and they were sent personal invitations to the Neighbors Helping Neighbors Event last weekend.

    Neighbors Helping Neighbors was a joint effort between the Town and the churches of Dedham to provide resources to anyone who may need it.  Banks, financial counselors, and representatives from food and fuel assistance programs were all represented and gave up a Saturday morning to come and offer help to anyone who needed it.  A full list will be provided in a separate post.

    While we've been spared the worst of the foreclosure crisis that is crippling many parts of the country, in the past three years we have seen the number of foreclosures skyrocket from three in 2005 to 16 in 2006 and, to date, 25 in 2008.  Click on the map below to see exactly where they are.  The ones in purple are from 2006, blue are 2007 and red are 2008.

    foreclose map

    Brian :: Foreclosures skyrocket across town in past 3 years
    A couple things jump right out at you.  First of all, not a single home in Riverdale has been foreclosed on in the last three years.  Likewise the core part of Oakdale, defined here roughly as everything between East Street and Cedar St/ Oakdale Ave, and between the Middle School and the Endicott train station, is untouched.  The houses in Oakdale all lie along the periphery, and in one Ashcroft neighborhood in particular.

    While none actually lie on Dale Street, there were 5 foreclosures on the streets that intersect with it.  This includes one house on Border St that was foreclosed upon twice, two on River Street very close to one another, and two on Quincy Ave very close together.  In Greenlodge there were four altogether, and two close neighbors on Ledgewood Rd.  All in the Peanut Butter Valley came during this past year.  There were also three in the Manor, two this year and one last.

    By far, however, the hardest hit area was East Dedham.  This neighborhood accounts for roughly half of all the foreclosures in Dedham.  On the stretch of Curve Street between Maverick and Washington there are a half dozen homes that were foreclosed upon either on the street or a few houses in on a side street.  On the other side of Brookdale Cemetery there were five homes in the little triangle of land made by High, East and Brookdale streets.

    There were even a few in Precinct One, though not among the mansions we typically associate with that part of town.  They were concentrated along the Rt 1/ Washington Street corridor in the area of the Dedham Plaza.

    These are tough times, and people are struggling.  I commend the Town and the clergy for acting to try and help people who need it.  The Neighbors Helping Neighbors event was a great idea, but I think many people who could have used the help offered were too embarrassed to come.  Letters went out to over 100 homes, plus the announcements made in churches, at the Selectmen's meetings and the in the local press, yet only about 10 families attended.  There were far more people there offering help than taking it.

    The St. Vincent de Paul Society told me that they conducted over 450 home visits last year.  There are many who will be too proud to accept any kind of charity - I'd probably be one of them - but I think that if we want to really help then bringing the mountain to Mohammad is the way to go.  I'm not a social worker and I would struggle to find a way to do it with tact, but I think bringing the offer of these services directly to people in the privacy of their homes would be a far more effective way to connect the people who would benefit from these services to those who are offering them.

    In the meantime, I want to draw everyone's attention to the Holiday Harvest Telethon this Friday night.  Tune in on your local station to watch a number of acts perform and call in your pledges for the Dedham Food Pantry.  Despite rising costs of their own, and a quadrupled demand, they were still at Neighbors Helping Neighbors offering help to even more people on Saturday.  They do much good work, and they deserve our support.

    Also, don't forget about the Toys For Tots event being held at the Legion on the 14th.  Every child should wake up with a present under the tree, and you can help to make Christmas morning a little bit brighter for a lot of deserving kids.

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    At least one missing (0.00 / 0)
    There's one in the Manor that's not on that map. They left around last Christmas.  

    Are you sure? (0.00 / 0)
    Are you sure the house was actually taken by the bank?  There are currently 104 homes in some state of the foreclosure process right now, but only a fraction of them will actually be taken.  I started looking for which houses had foreclosure notices, but when I reached 30 notices in 2005 (as compared to 3 takings), I gave up.  The computers at the Registry are pretty antiquated, and I would have spent all day if I continued through this year.

    myDedham.org - a community since 1636 and online since 2007!

    [ Parent ]
    Kinda sure (0.00 / 0)
    I talked with the guy who's taking care of the property for the mortgage holder. They keep the grass cut, at least. There's definitely been no new buyer since last year, and only a couple of possible looky-loos.

    If the one on Hooper rd was forclosed in 2006, there's been a new owner since then - I've seen them working in the yard.  


    [ Parent ]
    Tax Payments (0.00 / 0)
    As foreclosures increase, tax collection rates decrease. And as I mentioned in a previous post, when home values are reassessed, there will be a large and painful correction exacted upon our municipal revenue streams.

    State law requires that properties are taxed using the previous year's valuations. What happens next year when tax assessments are indexed to this year's deflated market rates? Could we be looking at 10-20% (or more) decreases in property tax revenue collections? If so, what is being done proactively? Is this why Keegan is having each town department submit a plan for a 10% expense reduction?

    All I can say is that I'm thankful that Legacy Place will be pouring commercial tax bucks into our system soon. I'll sit through some extra traffic if it means we don't have to lay off 50 teachers.


    It's a two part equation (0.00 / 0)
    Taxes due are determined by evaluation multipled by tax rate. When evelauations go down, tax rates go up. It is allowable as long as the increase of the total is not more than two and a half percent.

    Certainly there is a lose in revenue on properties not paying taxes, foreclosures or not. But those revenues cannot be made up but increasing taxes (again evaluation times tax rate).

    As with two years ago, Residences did see a larger than two and a half percent increase due to the Selectman choosing to leverage the Business rate to the max (could be 200% at the time). The state warned them this could change, and it did, so the business rates moved down to 175% and the lose of 25% was shifted to the Resident rate. Plain and simple. Selectman made that call.

    Of course this is excluding any overrides that have been inplace. Which thankfully that burden will be going down after this year (as illustrated in last years finacial meeting held last winter).


    Thank You (0.00 / 0)
    Thanks for the clarification and please pardon my ignorance on the yin-yang nature of rates and assessed values.

    I know that several towns are looking at overrides in the next year, despite the terrible climate to as voters for more bucks (only Needham's passed this year).  When it comes time to build a new Avery School, Dedham will likely be in override mode again, hopefully the economy will be in rebound then.


    [ Parent ]
    Rate for next year set (0.00 / 0)
    The Selectmen set the tax rate for next year last night.  Once again they shifted 175% to the commercial and industrial properties, though both rates went up.  Homeowners will see their rate go from $12.05 to $12.62 per thousand and commercial properties from $25.18 to $26.43.  The average homeowner will see their bill rise from $5,025 to $5,203.

    myDedham.org - a community since 1636 and online since 2007!

    [ Parent ]
    Good Thing.. (0.00 / 0)
    Of course this is excluding any overrides that have been inplace. Which thankfully that burden will be going down after this year (as illustrated in last years finacial meeting held last winter).

    we did not pass the most recent override put before the voters, don't you think Carl.

    Actually no .... (0.00 / 0)
    Since my family has already put up 10K toward the senior center (in trust being held by the Town of Dedham), no .. it wasn't a good thing. I could rant and rave about how short-sighted the town was, but the voters have spoken. I look forward to defeating any and all overrides in the future!

    Funny thing, I own property in NH, a small comunity of 6,000, who have a 18,000 sq. ft. Senior Center, and my taxes went DOWN 2% this year. I look forward to a happy retirement in a community that welcomes and support the aged. I'll sell my house to a nice growing young family.


    [ Parent ]
    hell's fury (0.00 / 0)
    "I could rant and rave about how short-sighted the town was, but the voters have spoken. I look forward to defeating any and all overrides in the future!"

    Hell hath no fury like a voter scorned?

     


    [ Parent ]
    Nice turn of words (0.00 / 0)
    As each of us has our priorities. If you look at the balance sheet of who and what monies have been spent, I say its high time to take care of those who have come before us (other than the cemeteries).

    [ Parent ]
    priorities is right (0.00 / 0)
    yes, I agree with looking at priorities and the track record of the folks to whom we've entrusted our monies

    when I do that it's hard not to conclude that Recreation Commissioners should not be entrusted with any more money until they spend time - say, a decade? - proving to the voters of Dedham that they 1) will accurately describe their plans and vision; 2) have a reasonable plan to accomplish that vision and 3) will hold themselves accountable for any missteps

    their track record:
    + neither the Striar nor the SMA properties are being developed as represented during the overrides
    + for SMA, they touted what they wanted to do but did not do the background work to see what was actually possible on the property given all that property's constraints

    the other overrides we've passed - for roads and sewers and schools - seem to have been money well spent (comments, anyone?)

    long run I guess it's good we've locked up some properties for the Town . . . but it bugs me that the pitches they made for both properties turned out not to be accurate . .  and with the SMA, they are years away from being able to deliver even a part of what was originally promised


    [ Parent ]
    Blame where blame is due (0.00 / 0)
    I don't remember, nor do I have at my fingertips, who sponsored the Striar article originally.  However, as I said the other day, the SMA property was sponsored by the Selectmen, not by Parks and Rec.  I know for a fact that not all the Commissioners even voted for the override to buy it.  

    In reviewing the transcripts of the debate you will see that Mrs. Kehoe spoke on the topic twice, and she goes on for the better part of 10 pages.  JuJu also spoke twice, but was much briefer, mainly stuck to answering questions about the property, and the first time spoke at the request of Mrs Kehoe.

    After the property was purchased the Selectmen refused to turn it over to the Parks and Rec Commissioners, and instead devised a working group with several members from each side to work on it.  This, I believe, is one of if not the biggest reason why precious little work has been done on it.  That, and they got bogged down trying to figure out how to fit two fields on a property that we were told at least four would fit on. Perhaps we could have done better if the original plans weren't hand drawn on a sheet a printer paper.

    I'm not saying Parks and Rec are blameless in this, but let's not forget that it is Bill Keegan, not JuJu, that holds the checkbook for the SMA property.  And if you want to talk about overrides for roads, just take a look at East Street.  I had to laugh the other night when David Field told the Selectmen that it came in under budget.  It came in under the second budget, after millions of dollars more were added to the project.  

    myDedham.org - a community since 1636 and online since 2007!


    [ Parent ]
    No shortage of blame targets, but (0.00 / 0)
    I remember watching the discussion about the control of the SMA property. Parks and Rec essentially wanted to take posession of the land as private property, exempt of oversight by the selectmen. No thanks. The lawyer - or whomever was answering the questions - kept explaining why the selectmen would have ultimate responsibility for the property, and the Parks and Rec guy kept trying to get his mitts on it. That's like telling Congress that they can write laws for all of the country except for New England, where a Cabinet Secretary will have control. If the town decided that it had better use for the land than ballfields, should the Parks and Rec dept be able to veto the Selectmen? Seems like a bad idea to me. Of course, I voted against the scam, so I'm not surprised that the chickens are coming home to roost now. SMA scam, meet Striar scam. The problem, as I understand it, is not who has the checkbook, it's a total lack of planning that went into the fiasco. But then, the whole thing was just to stop anyone from building houses on the property, and ballfields were the excuse, right?

    On the other hand, I was thinking the same thing about East Street. Under budget? With spin like that, the Red Sox could use him in the bullpen.  


    [ Parent ]
    Why shouldn't they? (0.00 / 0)
    At the begining of her comments, Mrs Kehoe said

    The proposed use for this property is park and recreation as well as passive use.

    If it was/ is intended for park and recreation use, why wouldn't it be under the ultimate control of the Parks and Recreation Commission?  Splitting the authority for it between two boards just doesn't make any sense, and we don't do it for any other fields.

    myDedham.org - a community since 1636 and online since 2007!


    [ Parent ]
    And... (0.00 / 0)
    your small N.H. town probably has no fields or open space where tar has been dumped.

    [ Parent ]
    SMA Scam, Striar Scam (0.00 / 0)
    MarkB,

    I don't believe that anyone purposely tried to scam to the voters of Dedham with the SMA & Striar purchases.  

    I know people over estimated the amount of buildable land on SMA and under-estimated the Conservation limitations to the property before the purchase.. The planning is not the problem with SMA, Volunteer-Landscape Designer-Patrick McGuire has designed a great plan already approved by the Planning Board and ConCom, but now have a money and follow up issue on getting it done.

    The primary reason Striar was purchased was to settle a multi million dollar lawsuit with the Striar Family against the town because two major town stormwater lines dumped their water on the property causing a large portion to be classified as Conservation land.  The Striar family wanted to develop the entire property, 24.65 acre, for housing purposes.  The rumor I heard, that because he was denied on developing the whole property, he was going to build 40B housing on the buildable portion.  Yes, the idea of future fields was floated out there and as a possible site for a SR Center. We even had plans drawn by the county to see if it was possible.  We did recieve 300k from capital expeditures for engineering of the property, but only 60k was spent to study the Norfolk County drawings to see if they were viable.

    If you have any future questions, I would be glad to answer them.


    Foreclosures in Boston (0.00 / 0)
    For those of you interested, there is a map of all the foreclosures in Boston this year, along with some commentary more insightful than mine.

    myDedham.org - a community since 1636 and online since 2007!

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