In the past, when we think of Zombies, we envision a horror film, e.g. the Night of the Living Dead.
Now houses that are left abandoned with the high number of foreclosures are being referred to as Zombie Foreclosures.
The problem with these undead domiciles is that, once abandoned, they quickly fall into disrepair and become targets for vandalism, graffiti and squatters, all of which can bring down the value of surrounding homes.
You need to “kill” these Zombie houses in your neighborhoods before they eat all of your profits in your homes of the neighborhood.
When owners learn that their homes are being foreclosed, they:
- Run out of their homes as quickly as possible sometimes without anyone seeing them leave. Homes are left abandoned and empty for many years.
These Zombie houses can sometimes be picked up for a steal and can kill the value of your home.
We all know the fear of Zombies in the movies but now we have to fear the Zombie houses in our local neighborhoods.