On top of the issue of numerous properties falling under Sheriff foreclosure auctions and other foreclosure-related problems, the state of Washington now has to face the immediate concern of public housing renovations. The main problem though, is that the money needed for the overhaul is not available.

Although foreclosure rates remain high in most areas of the state, with foreclosed homes for sale in Olympia, WA being just some example, the area has to put these concerns on the side for now and focus its attention on the most immediate problem of public housing renovation. The state has spent almost $1 billion over the course of 20 years in building these low income dwellings and now, they are in really bad shape and are in need of major repairs.

According to local housing market observers, these low income public residences are in worse condition than some of the most dilapidated foreclosure homes in Washington. The structures were built to serve as dwellings for homeless people, the disabled, the elderly, migrant workers and low income residents of the state.

With a lot of properties falling under foreclosures or being sold at Sheriff foreclosure auctions, the state is suffering from lack of housing market revenue. This leaves the area with practically no source of funds for the rehabilitation of these subsidized for-rent homes, with most of the units in need of cash injection to address mold issues, siding problems, roof disrepair and broken windows. it would certainly be easy to search foreclosure homes for sale and convert them to livable homes but there is just no money. 

According to public housing officials, affordable housing projects that were started in the state during the 1980s are now mostly in disrepair and are in need of rehabilitation. However, the main problem is that when the projects were established, the issue of who would handle the long-term maintenance of the structures was never brought up. In addition, market observers stated that most legislators expect organizations established for such projects to build affordable and low income homes, not rehabilitate old ones.

Public housing maintenance officials have also stated that there remains a need for affordable and subsidized housing across the whole state. However, they stated that they cannot just keep building new ones, but must maintain old buildings or convert previously occupied homes purchased from Sheriff foreclosure auctions and other foreclosure sales.

Original Post: Washington Has a Bigger Problem Than Sheriff Foreclosure Auctions on Foreclosure-Support.com.