If you are interested in buying an abandoned home in Newburgh, the process might have gotten a little easier. The city recently (in October) published a new form online called PODA – Private Owner Development Aquisition. The key here is in the words “private owner”. That means that is not for flippers or for property managers, it is for people who want to buy a home to live in it for themselves. The form calls them a “principal homeowner”. With the high rental-occupancy rate of many homes in Newburgh, this new process could help end the flipping cycle that have seen in city auctions. The new homeowner will sign a waiver prohibiting the sale of the property for the next 5 years.
This news also coincides with an announcement from Assemblyman Frank Skartados’ office regarding approval from Gov. Cuomo for a new city judge to deal with quality of life issues like absentee landlords. Skartados was quoted saying, “By securing this additional state-funded judge for Newburgh, the city will be able to crack down on serious code violations in a timely fashion.” City of Newburgh Police Chief Michael D. Ferrara agreed saying, “The end result could be more attractive neighborhoods, vibrant businesses and a better looking city for everyone. Property values should maintain if not increase and codes enforcement when consistent in a neighborhood can help reduce crime.”
The same press release said the new third judge could bring as much as $1 million a year in revenue to Newburgh from increased prosecutions of absentee and negligent landlords. We already know there are approximately 700 abandoned buildings in Newburgh. It will be interesting to see how the new judge will be able to lower that number and cycle these buildings back to the homebuyer pool.
For now, for those of you genuinely interested in buying a rescue me home, browse some of our picks. However, the city has a document online that has pictures and details of all their properties that essentially would apply to the new PODA form.
Undoubtedly there will be critics. What do you make of this news? Will it help aleviate Newburgh’s vacant building and quaility of life problems?