The once-proud American dream home is being abandoned. Financially distressed homeowners are packing up and leaving months — sometimes years — before the lender finally gets around to repossessing their home.
Left with nobody to take care of it, the zombie foreclosure becomes a magnet for vandalism, copper theft and squatters. To make matters worse, the zombie foreclosure mindlessly feeds on the property value of nearby homes.
[Tweet “You will have a tough time selling a home that’s within 600 feet of an abandoned foreclosure.”]
The infographic below shows exactly why you are going to have a more difficult time selling a home if it’s within 600 feet of an abandoned foreclosure, and it offers good advice to give your clients about how to fight zombie foreclosures in their neighborhood.
Source: The Zombie Foreclosure Infographic
Jared Speck is the marketing manager for The Freedom Law Firm. You can follow him on Twitter @thejaredspeck or LinkedIn.
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