There had been some debate whether the Huntsville Housing Authority in Alabama had used the stimulus funds from the federal government on neighborhoods that needed the funds most; or those areas that have suffered from high numbers of foreclosed properties under single and multi family home listings.
According to real estate market observers, half of the purchases made by local housing officials were for homes under Huntsville foreclosure listings, a move that is part of a larger plan to stabilize communities in the city hardest hit by the foreclosure crisis. The effort is particularly aimed at Huntsville's northwest neighborhoods where foreclosed properties account for two home sales out of five.
However, some market observers have stated that a number of purchases made by housing authorities were not from foreclosure listings in Alabama or Huntsville but from neighborhoods that are not suffering from high levels of foreclosure activities. According to them, purchases from these neighborhoods are some of the most expensive buys made by the housing authority.
Questions on how the local housing authority is spending financial aid from the federal government started circulating late in 2009 when a residence in Drummond Road at the south Huntsville area was purchased using federal funds. Analysts have questioned the move, citing the absence of significant numbers of properties falling under foreclosed single family and multi family home listings in the area.
They compared it to northwest Huntsville, where around 40% of home sales came from lists of foreclosures for sale. In the past year-long period, analysts have argued that 109 homes sales out of 278 in northwest Huntsville were foreclosed dwellings. The purchase of the Drummond property for an alleged tag price of over $153,000 resulted in protests and questions from some residents who argued that south Huntsville does not need any stimulus fund injection and that the money could have been used on other areas that need the funds more.
In response to the questions, officials from the housing authority have explained that the agency is purchasing foreclosed properties under single and multi family home listings from various neighborhoods. They stated that the protest generated by the south Huntsville purchase was due to miscommunication and that the particular property will not be converted into a public dwelling but will be resold.
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