Please Read below and then come back to these questions:
- Wow…who’s benefiting from SB Counties stupidity? (Burums out of work in house contractors to refurbish the foreclosure ruins)
- How many homes do they intend on buying? $75,000 each(average price of an SFR in city of San Bernardino) is about 33 homes! Great, now who’s going to pay for the maintenance and construction to get them to code?
- Who are the stupidvisors going to sell or give these homes too?
- Why do we as intelligent citizens allow the government to do dumb things with our money?
- Did any of the stupidvisors think of looking on the MLS to actually get a grasp of how many homes are currently being marketed to the over abundance (not) of eager buyers?
- Are the stupidvisors going to follow this up with a new and improved special buyer program that will cost SBC tax payers an additional $2.5Million?
Below is an article fresh off the press…
The Board of Supervisors voted unanimously today to give $2.5 million to a fledgling corporation with the hope that something can be done to stanch the flood of foreclosures in San Bernardino County.
“Because of the magnitude of the foreclosure crisis there are so many different things that need to be done,” said Supervisor Paul Biane.
The Inland Empire Economic Recovery Corp., which was formed in December by the county, would rely on public-private partnerships to assist first-time homebuyers and buy foreclosed houses in the region in bulk, fix them up and resell them. Two supervisors sit on its board of directors.
Concerns had arisen about transparency and the safety of allocating taxpayer money to the corporation. Supervisor Paul Biane, who proposed forming the corporation, has steadfastly defended his plan.
“The idea is that it’s going to be local people making local decisions,” Biane said.
Supervisor Brad Mitzelfelt, a member of the corporation’s board, said the proposal was a step toward stopping the bleeding.
“We are one entity that has unique abilities to help to solve the problem,” Mitzelfelt said.
He spoke in favor of the corporation collaborating with Riverside County and cities in San Bernardino County.
Supervisor Josie Gonzales addressed concerns about the involvement of local developer Jeff Burum. The corporation could partner with an investment group known as CARE – Community Asset Recovery Enterprise – of which Burum is an investor.
Burum benefitted from a $100 million lawsuit settlement with the county concerning the Colonies development in Upland.
“Let me tell you, there are other very good and dedicated and vested private agencies, companies, that are part of this also,” Gonzales said, “and you can’t deny one person or exclude one person from participating.”
Several real estate agents criticized the proposal during the meeting, saying the number of homes purchased with the $2.5 million would be a drop in the bucket and that the county may not be able to recoup the money spent purchasing the foreclosed houses because home prices are continuing to spiral downward.
Know go back to the beginning and ask yourselves or the stupidvisors the same questions?
