Research gives insights, recommendations for Norwood housing

The Community Building Institute and Property Advisors, in conjunction with the City of Norwood, presented preliminary findings on housing research conducted over the past several months during a public presentation last Thursday evening.To put together the Norwood Housing Survey (PDF), the team performed a physical conditions survey of the city’s housing stock; conducted interviews with residents, realtors and business owners on the state of the housing market; and completed market research on the city’s property values, foreclosures, and sales activity.Among some of the findings: Norwood had 845 home transfers from April 2005-March 2008, 30 percent below the metro-wide expectations of housing supply and demandNorwood contains 2.5 percent of the county’s housing units, but has 4.7 percent of the county’s foreclosuresThe housing stock is solid east of Montgomery Road, but 50 percent of all buildings rated as “poor” are located west of Montgomery Road and south of the Norwood LateralResidents are generally enthusiastic about the housing marketThe building approval process hampers renovationBuilding and zoning codes need to be enforced consistentlyChanging Norwood’s image is important Because of these findings, recommendations include boosting the city’s image, capitalizing on the city’s location and sustainability, creating financing and real estate incentives for new homebuyers, streamlining the building and permitting processes, and developing new infill housing.A detailed set of recommendations, which will include community feedback, is expected to be completed by the end of the year.Writer: Kevin LeMasterSource: