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Loudoun County, Virginia Foreclosures, ’07 – ’08:

Loudoun County, Virginia Foreclosures, ’07 – ’08:. An Analysis of Neighborhood Stabilization Program (NSP) Candidate Properties. GIS200. Agenda. Situation Goals Data & GIS Organization & Documentation Analysis Conclusion Resources. $2M. $7M. $2B.

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Loudoun County, Virginia Foreclosures, ’07 – ’08:

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  1. Loudoun County, Virginia Foreclosures, ’07 – ’08: An Analysis of Neighborhood Stabilization Program (NSP) Candidate Properties GIS200

  2. Agenda • Situation • Goals • Data & GIS • Organization & Documentation • Analysis • Conclusion • Resources

  3. $2M $7M $2B Current Situation: A Rise In Foreclosures Nationwide -US Housing “Boom” - -Sub-prime Housing Lending- -Adjustable Rate Mortgages- -Economic Recession- Housing Recovery Act (2008)

  4. Project Goals • Graphically & Spatially depict properties within NSP Neighborhoods • Identify Candidate Properties • Analyze Statistical Data

  5. Spatial Data (Collect  Organize  Scrutinize) Loudoun Demographer: Foreclosure Tables County Boundaries US Census Bureau: Census Tracts Population ESRI Roads* Vector, vector, vector… GIS Steps (Small Scale  Large Scale) Project Data Clip Roads Select Districts Plot XY, tabular data Clip Foreclosures by Distr. Create Buffers Summarize Data & GIS: Spatial Data and GIS Steps *Must be updated

  6. GIS Organization & Documentation • No Geodatabase • Cannot Create Folders in GDB • Minimal Metadata • ESRI • US Census • Loudoun County

  7. Project Analysis:Perspective & Precision • Analyze 24 months of foreclosures within: • Loudoun County • Two Election Districts • Three Neighborhoods

  8. Loudoun County, VA: Perspective & Precision Majority of Foreclosures & Population Located In Eastern Loudoun County

  9. Sugarland Run & Sterling, VA: Perspective & Precision -Greater than 100% rise in 12 months- -Neighborhood Trends- -Open space: Parks, Golf Courses, Commercial Property-

  10. Neighborhoods: Perspective & Precision -37 NSP Candidate Properties, Eligible for $2 million- -Property Value: $8.7 million- -Buffer Results: Residual Benefactors & Possible Candidates- Sugarland Townhomes Sterling Park South

  11. Conclusion • Confirmed: Eastern Loudoun Foreclosures • Verified: Ample Number of Candidates • Learned: NSP Money “Purchase Power” • Option: Include ‘Buffer’ Properties • Recommendations: Add ’09 data, Annual Assessments

  12. References • Loudoun County Demographer • US Census Bureau • ESRI • Loudoun County Independent

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