BluegrassForeclosure.com

Cincinnati is starting to see more and more of these properties.

“A danger to firefighters, crime magnets, crumbling, unsafe, a nuisance to the neighborhood – these words were repeated over and over earlier this month during hearings in which Cincinnati city officials sought to declare 25 properties public nuisances, a designation that allows the city to demolish the blighted buildings.”

. . . .

“Neighborhood groups say blighted properties drag down surrounding home values.”

. . . .

[T]the foreclosure crisis [is blamed] for the surge in problem properties.

During the first nine months of 2009, foreclosures in the seven Greater Cincinnati and Northern Kentucky counties rose 5.6 percent – outpacing statewide growth in foreclosure in both Ohio and Kentucky, according to latest court records.”

Investment in foreclosed properties helps out neighborhoods, gets the properties off the books of the banks, and helps keep up cities.  There are some great deals out there.  However, an investor cannot be an absentee landlord, that only makes the problem worse.

So go out there and look for some great deals, but invest for the right reasons as well.

Here’s the full article from Cincinnati.com.