Your home is my dogfighting arena

A Reuters news report details how some cities are grappling with the growing problem of vacant and abandoned homes -- a blighting side effect of the housing market downturn and rise in foreclosures.

The city of Buffalo, N.Y., sued dozens of lenders last month related to foreclosed and abandoned properties that were ultimately demolished, according to the report, while Syracuse, N.Y., began selling vacant homes last year for $1 each to non-profit groups and has since extended the offer to private companies.

Buffalo Mayor Byron Brown told the reporter that homicide victims were found in some abandoned structures, while others had been used for dog fights and drug dealing, the article states.

Lengthy foreclosure processes and complicated chains of ownership can contribute to the idle time for the vacant properties.

Some real estate agents who work with bank-owned foreclosure properties have suggested that cities in some cases need to be more forgiving about imposing fees for a lack of maintenance on foreclosed properties, as there can be lag times in the processing of the properties before they reach the market as REOs.

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