Michael L. Redmond

That is a mortgage foreclosure and the bank will probably be bidding on it to the amount they are owed. Here is the link to the full list. http://www.hcso.org/PublicServices/ExecutionSales/ExecPropertySales.aspx scroll to the bottom and hit agree. The very bottom of the next page is tax foreclosures and those only give parcel id numbers that you will have to match up on the auditors site. Sometimes you can get the real steals off the tax foreclosures but it takes more work.

815 Dayton is coming up for sheriff auction. A0906451 DEUTSCHE BANK NATIONAL TRUST CO OLDHAM, MARYLYN 815 DAYTON ST CINTI JOHN CLUNK 330-436-0300 $78,000.00 $52,000.00 1/21/2010

The transfer amount still has to be recorded at the recorders office which would show on the auditors site. If the dollar amount of the transaction is not shown, you can back into the number by looking at taxes paid. The MLS is only showing info on transactions involving agents and is what most appraisers will use as comps but the auditors site and the recorders office shows everything. Even improvement amounts have to be recorded on there because the new value will be taxable.

I missed it when I originally looked at it. Sorry.

The first one sold for 234,000 and is a Model property, multi unit rental. Model doing a lot of market rate rental in the West End? I will ask Mr. MacDonald tomorrow. I can't even find on Paul's site anything about the B&B just yet either. He does talk about a 99,000 listing though http://victorianantiquitiesanddesign.blogspot.com/2009/12/historic-dayton-street-mansion-for-sale.html

You might want to check into who you are talking to.

Listing # Area SIC Address List/Sell $ 1152049 E01 CI 424 Dayton St $4,000 Sold Duplex 1202270 E01 CI 811 Dayton St $13,400 Active 1199453 E01 CI 461 Dayton St $14,900 Pending 1146296 E01 CI 1017 Dayton St $20,236 Sold 5+unit 1199364 E01 CI 1025 Dayton St $65,000 Active 1191668 E01 CI 1105-1107 Dayton St $98,500 Active 1198859 E01 CI 824 Dayton St $99,000 Pending 5+unit This is within the past year up to today. Which one are they dumping 750,000 into and what did they use as a comp?

Yes, Really. How much did they have to put down? Now how many people on here or anywhere do you think are going to be able to come up with the dollar amounts necessary outside of the the 203K to pull that off? Which comps did they use exactly to pull 750,000. I will pull the MLS and see what is out there. So they are putting a b&b next to CityLink? Huh! That takes some guts and I hope they can do it. When do they plan on opening it and where can I find some info on the people doing it?

Those tend to be very large single family homes especially around Dayton which present a financing problem on the front end of restoring homes that could be 5000 sqft plus, and trying to convince a bank to loan you for acquisition plus rehab may be impossible when it comes to finished appraisal value. You also stand a better chance of finding yourself on a development island in the West End vs Otr.

OTR does not have a huge amount of single family homes (yes there are exceptions). When redeveloping a building into multiple units, you not only have to take into consideration the upfront financing of the project, or even finding willing buyers, it is the buyers ability to find the financing on the units. All of the developments down here have struggled with this. The Q has been sucessful in both % presold and coming up with some creative solutions, I just don't believe all projects would have a dedicated team to devote to this as the Q does. Right now the Q is selling 1 every 11 days and that is with a sales team, marketing campaign, multiple developers and a few million dollars to work with. Yet places like Dandridge in Pendleton went bankrupt only blocks away. It isn't as simple as "build it and they will come". The approach that we are seeing south of liberty is working and even north of liberty is showing signs of life. Anyone have a number of demos in OTR for 2009? Or better yet a list of addresses of demos for last year?

one of those bypasses I was referring to was the VBML. have you ever applied for your waiver or are you just going to fight it all the way to the ohio supreme court? The building dept bypasses as well that instead of taking an adversarial approach as it seems you do, have you ever tried to preemptively schedule meetings with them to explain a development plan? There are processes in place that allows for a smoother development and not the doomsday scenerios that you always describe...ie "bulldoze over no downspouts for example."

That was from an Enquire article where Chris Rose said that although Gateway is progressing, we need a "northern gateway" and not simply ignore the Brewery Dist. He was saying we need a development like Gateway to the north of liberty and not trying to rename it. http://news.cincinnati.com/print/article/20100115/BIZ01/1160359/Pushing-redevelopment-north-in-OTR

vs So the criminally prosecuted can not. That makes more sense. Could the criminally prosecuted's llc make the purchase? Bottom line is that you seem to want to preach to a bunch of people here how bad Cincy is yet we are here on the ground everyday rehabbing every bit as much, if not more than you. I am proud of what my city has done with turning around both the CBD and OTR and am more encouraged everyday as that catalyst brings more homeowners and businesses to the area. It may be your attitude towards the city and the tactics of bashing it every chance you get that is holding you back. You look for problems much more than you look for solutions, you aim at the roadblocks vs the simple bypass that is right in front of you. I wish you well and hope you continue to restore buildings but your constant pessimism may serve more as a dissuasion to people looking to rehab. If for every one building you complete, you convince 2 not to rehab, what have we accomplished. Indy may better suit you.

I just don't think that is true. Look at the make up of 3CDC. Kroger, P & G and all of the developers that weren't always into city develpement. I think the support is there, the will is there, the money is there, now we just need the time for the market to absorb what is being produced. Could we use more support? Always. I didn't take it as a slight, I appreciate the enthusiasm.

Failure? We are bringing on line hundreds of new homes and selling at a faster clip than anyone in the city. OTR is not failing, it is flourishing. New businesses, new homes and more positive press than any of us could have ever hoped for just a few years ago. The saying at the bottom of your page is not true for OTR, it is the reverse.

So my theory would work, I could torpedo a known competitive bidder before hand? And on the taxes, could I not just form a quick llc to bid? Indiana sounds great.

That can be done anywhere and has as much to do with taxation as anything because the value of the donation is higher with a building on it vs without. You can do that today, right here. It has been done for years with both the church and the school system. So if you and I were neighbors in Indiana and we both wanted to bid on a pa rcel of land between our houses, I would simply have to file a complaint against you to the building dept? Sounds fair. Plus, didn't you say in one of your post that the city was on you about something? Would that negate you from purchase of city property? Fair? There is. Have you called Holly or Stacy to ask about the program? Do you know how many developers they have? all I can say is so far so good with 3CDC.

On ez track I am seeing one hazardous abatement order after another. I haven't read your article yet, what was hazardous? And that building wasn't found to be open to anyone who just wanted to stroll in was it? I guarantee you that if you contact the owner, you could buy it pretty cheap. I say go for it! Which other buildings have you rehabbed in OTR so far?

We should make a bumper sticker.

I am still trying to get the details on the abatement in Indy. I have found the ones for business but I am trying to see the length and investment criteria for receiving it for residential. I have found this Eastside Revitalization District This district provides for a five year real property tax abatement to property owners that demolish or renovating existing buildings. I don't think we do abatement here for demolition. To me that seems as though no assessment for improvement would be abatement enough. But those Indy people are ahead of us I guess. That did happen here for a long time (Holly and I looked at several ourselves with the help of the city) and generally the city never purchases the properties, but rather ceases them through abandonment or tax delinquencies. 3CDC received most of those properties that were "city owned" and you are seeing the results of that today. So how many rehabbed properties is Paducah bringing on line yearly vs OTR?

I live north of Liberty and I have never heard that term. Are you sure they aren't saying Northern Liberties? Is there a 10 year tax abatement in place in Indy? I have so many problems with this guys assessments. It is as if he is too smart by half.

If that were the case, then a lot of people would probably have a good legal case against the city if it were indeed merely for "loss of value". As for increasing the millage rate to compensate for lost revenue, I am not sure how their county would differ from ours but I can't imagine condemnation over loss of value.

Mottainai has just sold out.

NEONS is in OTR on 12th Street. The entry way to our courtyard was brought in from the Kenton County Infirmary. That piece, along with several others inside of the courtyard, was purchased from the wooden nickle by Terry Carter. They are massive pieces. The inside of it says Rosedale Manor.

Time will tell and I sure hope you are wrong as well. These OTR rehabs don't just pay for themselves you know.