Eisenberg: Market-Anticipatory Approaches to Rural Property Vacancy

In Market-Anticipatory Approaches to Rural Property Vacancy, author Ann M. Eisenberg examines strategies for rural local governments seeking to deal with vacant property.

The dilemma of putting so-called “problem properties” to a modern and beneficial use occurs throughout rural America as local governments try to efficiently put their communities’ resources to their fullest potential and largest benefit. Proper use of these properties can encourage growth and business and help rural local governments be more efficient. 

A common approach to vacant properties is for local governments to acquire a problem property, rehabilitate it, and then wait for the right buyer to come along and put the property to use. Instead, Eisenberg evaluates a new strategy for addressing vacant and dilapidated properties in rural areas. This strategy is known as the market-anticipatory approach. Under this approach, as Eisenberg details, local governments should first anticipate the most likely “end use” for the property and then use this anticipation to shape its strategy for addressing the property at the outset. This identification period allows local governments to remove barriers that would slow down or prevent such a useful transaction. 

According to Eisenberg, using this market-anticipatory approach can help relieve the burden on rural local governments when it comes to problem properties. Taking this pragmatic and calculated approach to the rehabilitation and sale of properties in rural areas can save the local government time, energy, and resources.

Although the market-anticipatory approach is not a one-size-fits-all fix that extinguishes all the risks of dealing with problem properties, Eisenberg argues this approach is one way that rural local governments might be able to better stretch their limited resources and impact their communities in the most positive way.