A certain realtor, Chris Hanson, has proposed the idea of selling City owned property for $1 to first time home buyers who were pre-qualified for an FHA 203K loan (mortgage & renovation loan in one). This type of loan has a time limit in which the work has to begin and be completed (work must begin within 30 days of execution of the Agreement). Thus the city would be guaranteed that the homes would completely renovated and owner-occupied in 6-12 months. That could bring huge change to Newburgh very quickly. If the City was offering something like this how many of you would be interested? I know many people that would. Given the houses are in bad condition and will need a lot of money to fix, but buying a house for $1 one hour from NYC is something unheard of and could be very exciting if the idea was executed. So far this idea has been shot down. But if enough people showed interest in a project like this one, maybe it could take off.
Even if the City isn’t making it any easier for dedicated people to make a change in Newburgh, the least we can do is educate each other and find ways to work through their system. Check out the following link to see more examples of Newburgh Real Estate.