Are there any “zombies” in your neighborhood? Thanks to the improving real estate market, we have seen a plunging number of “zombie foreclosures” across the country. The number of properties in the foreclosure process that are vacant, which have been dubbed “zombie foreclosures” has dropped 30.1 percent as compared to one year ago according to RealtyTrac.
Nationwide, “zombie foreclosures” account for just 4.7 percent of all residential properties in foreclosure. According to experts, the strong sellers market has allowed lenders to dispose of lingering foreclosure inventory.