Did you know that there are currently over 2 million houses sitting empty in the US? This is the highest this number has been since 1956 according to the US Census Bureau!
Over 800,000 are for sale!
Some of these houses are wreaking havoc with their local code enforcement offices.
Some are unkempt, in disrepair and ill maintained. Some are full of rodents, termites, transients and/or partying people.
Some are catching fire.
Many owners are out of state banks.
Today, many are being sold at bargain basement prices. Savvy buyers are scooping up some excellent deals on some that are in very good condition. Sharp buyers should keep their eyes and ears open, because it truly is a GREAT TIME TO BUY!
On the other hand, I have seen some on the market for over 2 years now.
But, what is a neighbor to one of these properties to do, when no one wants to take responsibility for these eye sores? And, how will these in disrepair affect the value of neighboring homes?