The signage that is peppering our neighborhood, while annoying, may also pose a threat to area property values because of the perception that these homes are in bad condition, when they are not. There is an influx of outside investors converging on our homes and trying to buy them under their real market value. These investors then flip the houses and sell them at a 25-50% greater price.
Why is this a problem? These escalated prices make purchasing homes out of reach for low- to moderate-income buyers who want to remain living in the area. The investor activity is also causing higher rental prices, taxes, and insurance costs to affect other homeowners who are not selling, and who have done nothing to cause the increase
in property ownership expenses.
Mailings like these, too, have inundated residents in our neighborhood. The language, frankly, is insulting:
"We will buy your headache."
"Renters in default."
"Urgent Notice" (as if official)
"You don't have to repair it or clean it up,"
"Turn your burden into cash."
This mail is being sent to people who have very nice homes that are well taken care of; where there is no default; where renters are good tenants; where there are no "pains, frustrations, or burdens" going on, except for what these mailings and signage are causing. Please be aware that we are working to try and reduce this issue.
The City of Fort Wayne's Community Development Division has announced a new Emergency Rental Assistance program, established to help those struggling to pay rent and utility bills, due to ongoing challenges from COVID-19. The program is available to Fort Wayne residents who rent apartments, homes, or other residential units within the City limits. Visit www.fwcares.org for more information and to apply (this is the quickest way to apply for the program). You also may call 317-552-1463.
For homeowners who need mortgage assistance, you can apply through the State of Indiana by visiting this website: https://www.877gethope.org.