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 demand
- The 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 Lateral
- Residents are generally enthusiastic about the housing market
- The building approval process hampers renovation
- Building and zoning codes need to be enforced consistently
- Changing Norwood's image is important
"Norwood has a solid housing market, but with less turnover than a lot of places," says Keith Moore, who serves Ward One on Norwood City Council. "Largely, that's because people really like living here. It's kind of insulated from the broader market, which means that we haven't seen the same increase in value as some places over the last few years, but also that we're not being hit as hard as those places on empty properties or declines in selling prices now."
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.
"The goals from here are, I think, in three main areas," Moore says. "First, to improve the physical condition of Norwood housing, although the problem isn't nearly as widespread as many think. Second, to attract more people buying a house to live in rather than to rent out. Third, to find better ways to communicate with residents, whether through email, the internet, newsletters, or something else."
A detailed set of recommendations, which will include community feedback, is expected to be completed by the end of the year.
Writer: Kevin LeMaster
Sources: Keith Moore, Ward One, Norwood City Council; Norwood Housing Strategy
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