DCD reports record sales of tax foreclosed properties in 2015

DCD Real Estate significantly exceeded the goal for selling tax foreclosed properties in 2015. During the Great Recession the City of Milwaukee acquired thousands of properties due to tax foreclosure. “We started seeing a major uptick in 2009, and 2012 was the year in which we acquired the largest number of properties (about 900),” said deputy city development commissioner Martha Brown.  By the end of 2015, the DCD Real Estate Team had sold 530 improved properties, including 19 commercial sites. This was the largest number of improved properties ever sold by the City of Milwaukee. Of the 511 homes sold, about 60% went to owner-occupants. The City has been working with nine local real estate brokers, who were involved in about a quarter of the transactions in 2015.  Learn more about properties for sale and incentives to help you. Sign up for our monthly City Real Estate E-Newsletter and get updates from E-Notify.