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News -January 2014
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Florida ‘Zombie Foreclosures’ Reported Highest in Country
Realty Trac diagram

Chart by RealtyTrac

South Florida Business Journal
March 14, 2014

RealtyTrac has dubbed homes that that have gone into foreclosures and been abandoned by their homeowners for an average of three years as ‘zombie foreclosures.’   Reports confirm that Florida’s numbers of zombie foreclosures tallies 55,000 and is the highest in the nation, three times more than Illinois, who is second in the nation.  Zombie homes suffer from a severe lack of maintenance, thus often withstanding structural damage and depreciating the value of its surrounding homes.  January reports indicate optimism though, there are buyers, even for zombie foreclosures, and the market should ultimately recover.  More… 

 

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