Fairhope, Alabama
ABANDONED FORECLOSURES A PROBLEM
A house located at 10 S. Ingleside St. has finally been condemned -- and demolished by the city: a lien is being placed on the property to cover the cost of demolition.
Demolition was problematic because the 1940s-vintage structure was constructed of concrete blocks, according to Building Inspector Cortinas.
The property went into foreclosure in 2012, but was thrown into limbo when the bank refused to pursue the foreclosure -- sometimes called a zombie title ship.
The R-2 zoned property was appraised at $176K in 2013: $81,300 just for the land.
Property taxes are up to date: $1,541 was paid last year.
Peak value was $266K in 2008 -- before the Great Recession (county tax appraisal).
(An offer of $100K has already been proposed for the 99 year lease of the Single Tax Corp-owned lot, according to an informed source.)
OTHER CONDEMNATIONS UNDERWAY
Two other abandoned homes on Section St. are also entering the condemnation process, according to Cortinas.
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| 10 S. INGLESIDE |
A house located at 10 S. Ingleside St. has finally been condemned -- and demolished by the city: a lien is being placed on the property to cover the cost of demolition.
Demolition was problematic because the 1940s-vintage structure was constructed of concrete blocks, according to Building Inspector Cortinas.
The property went into foreclosure in 2012, but was thrown into limbo when the bank refused to pursue the foreclosure -- sometimes called a zombie title ship.
The R-2 zoned property was appraised at $176K in 2013: $81,300 just for the land.
Property taxes are up to date: $1,541 was paid last year.
Peak value was $266K in 2008 -- before the Great Recession (county tax appraisal).
(An offer of $100K has already been proposed for the 99 year lease of the Single Tax Corp-owned lot, according to an informed source.)
 |
| last summer |
OTHER CONDEMNATIONS UNDERWAY
Two other abandoned homes on Section St. are also entering the condemnation process, according to Cortinas.
Comments
Maybe a rich doctor?