1. Avondale, AZ Housing Crisis: Impacts and Strategies

2. Avondale, AZ 2000: 35,883 (approximately 126% increase in population from 2000-2008) 1990: 16,169 2008: 81,299

4. Boom Times Residential Construction off the charts Fast appreciation of residential values New Retail Revenue Growth healthy Investors: Rentals and Flipping

5. Houston, we have a problem…

7. Foreclosures by Subdivision Fall 2008 High: 21% Median: 7.2% Low: 0.1%

8. City Sales Tax FY Monthly

9. Building Permits

10. Foreclosures -- Impacts Values plummet Abandoned homes – weeds – green pools – vandalism Partially-built/occupied subdivisions Tons of “for sale” signs Spirits plummet

11. In Depth Look: Avondale Residential Foreclosures Since 2007 Current Total:5110 of 20236 (25.25%) Median Re-Sale Home Prices 2006:$255,000 Current:$105,000 (59% Drop) New Home Sales Volume 2006:1,139 2010: 82 (93% Drop)

12. Strategies Public Relations/communication HOA Coordination Code Enforcement – Clean and Lien – Definition of “responsible party” – Rental registration

13. Foreclosures Mitigation Purchase updated foreclosure data Track all foreclosures through database Regularly map Update database monthly Knowing where they are and the status

14. Foreclosures Mitigation Inspect every foreclosed home – Secure properties as needed – Treat pools for mosquitoes – Enforce property maintenance compliance Monitor and document condition until occupied Keep neighborhoods looking good Proactive monitoring of ALL foreclosures

15. Foreclosures Mitigation Awarded $2,466,000 for foreclosure mitigation Consumer-driven homebuyer program Acquisition – rehab: Energy Star Home Demolished 4 blighted, multi-family properties Created a buzz on purchasing Avondale home Use of federal Neighborhood Stabilization Funds

17. Foreclosures by Subdivision Fall 2010 High: 10.7% Median: 2.5% Low: 0%

18. The Future and the Recovery Inching our way out of the recession Making things happen: City Center, American Sports Center Percentages of Foreclosures -- Subdivisions 20082010 High21%10.7% Median7.2%2.5% Low0.10

19. City Center

21. American Sports Center