Blog Post 3: 2014 Registered Foreclosure Properties Data Collection Analysis

For this blog post, I chose to look at the 2014 Registered Foreclosure Properties data collection. The ontology of this data collection can be described as very concise and straightforward. The data is organized into a chart, and has information such as the registered date of the property, property type, location, property management name and address, the lender name, and property contact information. I would say that this data reflects the view of a very strategic and business oriented individual. Devoid from this data collection is information regarding the buyer’s demographic, the crime rate associated with the property in question, and how long the buyer had possession of the property. This data would be the most illuminating to future buyers, as well as realtors who may be interested in representing the property in question. It may also be helpful for banks who are considering granting a loan to an individual interested in the foreclosed property. This information would be useful for a bank because it includes the contact information of the lender and property owners, who could provide further information regarding the financial history of the property.

This data set clearly describes the monetary past of various properties in Los Angeles, and includes the names and contact information of the property managers. What is left out from this data set is more personal information, as previously mentioned. For example, from this data set, one does not know the circumstances under which each property was foreclosed. Why specifically was the property foreclosed? Why couldn’t the previous owners pay for the home? If I were starting over with this data-collection, I would try to answer these questions. I would include information such as the race of the homeowners, for how long the previous homeowners have lived in the United States, their yearly income, number of children in the family of the homeowners, how long the homeowners lived in the property prior to the foreclosure, and the occupation of the homeowners during the date of foreclosure. This information would allow others to get a more holistic view of the data, which could help us to understand the circumstances under which the house was foreclosed. It would also be interesting to look at if/when the banks that served as lenders declared bankruptcy, as this would certainly influence the financial situation of the homeowners. This information would be useful for banks and credit card companies who were planning on working with the homeowners whose houses were foreclosed, as it provides information as to why the foreclosure took place. Without this information, banks may be less willing to provide loans to the individuals who had their houses foreclosed, and credit card companies may be less willing to open accounts for those individuals. More information is needed so that unfair judgments are not made against these individuals.