Zombie Properties: 1,332,706 residential properties in the US are sitting vacant
(KMOX) – A new report shows there are 1,332,706 residential properties in the US that are sitting vacant as zombie properties and a county near St. Louis has one of the highest zombie-foreclosure rates in the country.
If you think you’re reading about a zombie apocalypse or some kind of night of the living dead report, let me stop you right here. A zombie foreclosure is when a homeowner moves out after receiving a notice of default, but the foreclosure gets canceled or isn’t completed. It means the house remains in the homeowner’s name, but they may not even know it, as it is essentially a dead property, growing decrepit over time.
Illinois has the fourth most zombie properties in the country, with 805, behind only New York (2,053) Ohio (939) and Florida (912). And St. Clair County, Illlinois owns the highest zombie-foreclosure rates among counties with at least 500 properties in the state, at 9%.
The latest data comes from ATTOM, the curator of the nation’s premier property database.
To make things even scarier, their experts believe as we approach Halloween there will be an increase in zombie properties.