Posts Tagged ‘zombie’

1.4 Million Residential Properties Vacant in 3Q

Posted on November 02, 2017 by Laura Lam

Nearly 1.4 residential properties were vacant at the end of the third quarter, according to ATTOM Data Solutions’ 2017 U.S. Residential Vacant Property and Zombie Foreclosure Report.  The vacant properties represent 1.58% of all residential properties, which is a 1.63% decrease in vacant properties from one year ago, the report found. However, the report also found that rate of vacant properties increased in more than half of the metropolitan area analyzed, including Chicago, New York, St. Louis, Baltimore and Phoenix. ATTOM also found that that the number of vacant “zombie” pre-foreclosure properties – which have started the foreclosure process but…

‘Vampire’ Foreclosures Keep Bank Inventory High

Posted on October 18, 2013 by Saldutti

As if rising mortgage rates aren’t scary enough, analysts have identified a lurking threat to housing: “vampire” properties. These “vampire” properties are bank-owned foreclosed homes in which prior owners continue to live, as defined by RealtyTrac, an online foreclosure marketplace. Former owners live in 47% of U.S. bank-owned properties, according to RealtyTrac. These properties are “sucking the life out of the housing market,” according to Daren Blomquist, vice president at RealtyTrac. “The concern with these homes is that they are inevitable inventory that had been delayed from hitting the market,” he said. “We don’t anticipate these properties will derail the…