A new study finds that 301,874 “zombie” homes—properties where home owners receive foreclosure notices and move out, leaving the home vacant and deteriorating—exist in the U.S.
The state with the highest number of “zombie” properties is Florida, with 90,556 vacant homes in foreclosure, according to data by RealtyTrac, in their first analysis of “zombie” properties. Illinois ranks second with 31,668 “zombie” properties and California ranks third with 28,821.
However, Kentucky leads overall in percentage of zombie properties; abandoned homes represent 54 percent of Kentucky’s total foreclosure inventory. Abandoned foreclosures also represent 50 percent or more of the properties in foreclosure in Washington, Indiana, Nevada, and Oregon, according to RealtyTrac.
In January, Reuters reported a problem with “zombie” titles—home owners who received a foreclosure notice and walked away from their home but did not realize their names remained on the deed and they were still financially liable for the property. In some cases, the banks never ultimately pursued the foreclosure, but the home owners were unaware of that since they already had moved out.
RealtyTrac counted any property that had been in foreclosure longer than the state average and that showed no significant recent activity on it as a “zombie” property in its report.
"I think the empty foreclosures is less of a long-term threat but it certainly is affecting individual communities and neighborhoods," says Daren Blomquist, RealtyTrac’s vice president.
Author:Brenkus Team Phone: 702-526-2298 Dated: April 1st 2013 Views: 568 About Brenkus: Rick and Teri Have been top producers for over 30 years in the Las Vegas area and have been ranked i...
About Keller Williams Marketplace - Brenkus Realty Network
Rick and Teri Have been top producers for over 30 years in the Southern Nevada and have been ranked in the top 50 agents in the US by the Wall Street Journal out of over 1.3 million agents. They have sold over 7,000 homes in both stable and challenging markets. Their strategies and incredible systems to represent buyers and sellers can not be matched! Sellers enjoy netting top dollar in the least amount of time with their massive marketing and ability to stay ahead of the curve! This Top Producing Team has consistently been in the top 1% of agents Nationally for the last 30 years. They are national speakers and are highly sought after by many who want to get to the next level in their business. They also serve on Professional Standards at the Greater Las Vegas Association of Realtors and are Senior Faculty Instructors. Their list of credentials are endless!
Before you make any decision to Buy, Sell or Invest in Real Estate, be learning based and discover all the benefits, strategies and techniques Rick and Teri Brenkus offer to their clients..... You will be glad you did!!! 702-456-5959
Las Vegas has a reputation that proceeds itself. If you are a local, y
"Top notch service! Wendy Reid is incredible. Look no further for your real estate needs. Have used her for myself and for family members, and she is so attentive and gets the job done quicker than anyone else. Have dealt with other realtors in town and nobody else even comes close. Not only is she the best at what she does, she actually cares about making her clients happy. Keep up the good work, Brenkus Team! This is 5-star service."