The wave of foreclosures has left vacant houses and other properties throughout the city, with many ethnic communities that were high on the list for marketers of sub-prime home loans getting hit especially hard as the mortgage meltdown unfolds.
The trend has created potential hotspots for criminal activity and other dangerous situations in various areas of the city, bringing a troubling turn for many neighborhoods that only a few years ago were reaping improvements from increasing rates of home ownership.
The trend recently prompted Reomac, a Sacramento-based trade association for lenders involved in foreclosures, to urge neighborhood residents and realty professionals to exercise caution in dealing with any problems or suspicions connected to vacant properties.
"These unoccupied homes have created a hotbed for vagrants, criminal activity and opportunists," according to Rafael A. Dagnesses, a long-time Reomac member and a broker for Los Angeles-based Quantum Realtors of Southern California. "Foreclosures can create innumerable hazards to the health and well-being of entire neighborhoods — and as more and more families lose their homes to foreclosure, these dangers have only multiplied."
Here are the Dagnesses' "Top Three Tips for Playing it Safe in Today's Risky Foreclosure Market:"
Be Aware: If you decide to enter a property of concern, walk the perimeter to ensure there has not been a break-in. Also be aware of excessive foot traffic or bicycle traffic to a vacant property on a residential street during work hours. Foot and bicycle traffic is sometimes an indicator of lookouts for drug or gang activity.
Be Careful: Gang activity often begins to increase after 2 pm. Tell a co-worker, family member, or neighbor about your plans when you visit a vacant property. It's advisable to leave your cellular phone on while entering the property, or even keep a connection with someone on the line so they can call 9-1-1 should an encounter occur.
Don't Be Afraid to Call the Police: Too many homeowners will put themselves in a potentially life-threatening situation before "bothering" the police. Do not be afraid to contact the police with concerns about a vacant property in your neighborhood. Leave the immediate area of the property and call the police from a safe location if you see any signs of a break-in.
Dagnesses said that Reomac asked him to prepare these tips for real estate professionals, adding that he decided that residents of neighborhoods affected by foreclosures could also benefit from the information.
"It is important to note that no one is completely safe, and everyone can benefit from adhering to the guidelines and tips for playing it safe in and around foreclosure properties," he said.
Sam Hassan is a writer for the L.A. Garment & Citizen.
Photo from Wikimedia Commons
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