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According to Reuters, a national survey found 301,874 “zombie” properties spread across the US resulting from homeowners in foreclosure having vacated, resulting in so-called zombie homes for sale in Florida and other states where investors don’t need bigger pockets in order to pick up bargains.
Florida presently tops the list of zombie properties with more than 90,000 vacant homes involved in the foreclosure process, according to California based real estate information company, RealtyTrac.
Illinois and California ranked a distant second and third with approximately 31,000 and 29,000 zombie properties respectively on the list.
According to RealtyTrac vice president Daren Blomquist, another 10.9 million homeowners nationwide remain at risk because they owe more than their property is worth.
The plight of people who walked away from their homes not realizing that their names remained on the deed and that they were financially liable for taxes and other bills related to the abandoned properties was revealed by Reuters reporting.
Zombie properties can be easy to spot as they deteriorate into neighborhood eyesores and havens for criminal activity.
While Florida leads in volume of zombie properties, Kentucky, with less than 1,000 zombie properties, leads in percentage, with zombies representing 54 percent of its total foreclosure inventory, Blomquist said.
Elsewhere, zombie properties in Indiana, Washington, Oregon and Nevada also comprise approximately 50 percent or more of the properties in foreclosure, according to the report.
On a brighter note, these zombie properties result in eventual deals for bargain hunting investors seeking to cash in while also helping to provide a viable solution to the current housing problem. Many instances of properties being sold for less than 50% of current value are being reported in across the country and zombie homes for sale in Florida and other states create a huge investment opportunity for beginner and experienced investors alike.
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