Makeover of Bank Foreclosure Properties

by on Foreclosures

Abandoned and vacant bank foreclosure property becomes blight to neighborhoods and communities, pulling down prices in the area and becoming magnets to vagrants and thieves.

City officials in Perris, California knew that deteriorated foreclosed properties could not entice buyers and so they decided to hire David Milligan, a hazardous-waste specialist, to paint green the brown and dying grasses on lawns of foreclosed homes.

The makeover project is designed to protect the value of the bank foreclosure house and to make it attractive enough to entice potential buyers. That is why city officials were pleasantly surprised when their project did not just lure potential buyers but also news crews from various countries who filmed the makeover process.

News crews from Germany, Spain and Finland and from local media troop to the city to witness and filmed the front-yard makeovers. A television crew broadcasting to Austria, Germany and Switzerland filmed Insta-Green USA’s workers as they spray-paint a yellow lawn at the Monument Ranch subdivision in Perris.

Focus TV Productions editor Kirsten Moser said that what Perris is doing has an international appeal because it provides a glimpse of the other side of the housing crisis, and not just the usual depressing foreclosure news.

Perris is located in the Inland area which has experienced the highest number of bank foreclosure property in the county. In April, about 4,000 foreclosure notices were served to homeowners in San Bernardino County and 5,000 in Riverside County.

Vacant houses have become targets for squatters and vandals, unattended swimming pools turned into habitats of disease-carrying mosquitoes and dead and decaying lawns destroyed the appearance of neighborhoods and pulled down home values.

Because of the increasing number of vacant properties in the area, some Inland cities, such as Riverside and Rialto, have required lenders to maintain their properties and keep them free from weeds, trash and graffiti.

Milligan, who was hired by Perris in March, has so far colored the grass and beautify the lawns of 23 homes in the city at a maximum cost of $650 each. He explained that the color painted on the grass would last a maximum of four months then the dye, which is light sensitive, would start to break down.

For colorant, Milligan is using the non-toxic dye, kale pectate, which is usually used on golf courses, to spruce up the lawn in a bank foreclosure property.