Have you noticed the growing number of boarded-up properties sprinkled across your residential neighborhood, or perhaps in the areas near where you commute to work, or take your kids to the park? Have you wondered what happened to the families that used to live there, and if something is going to happen before these homes fall into such disrepair that only major rehabilitation will make them livable once again?
If you think your neighbor’s foreclosure doesn’t impact you, think again. According to a Center for Responsible Lending report, foreclosures lower the property values of nearby homes by $7,200, on average. Even if you’re current on your mortgage, nearby foreclosures can affect your community through lower property values, higher crime rates, and lost services. Read More of this Compelling Article on HouseLogic.com
Visit houselogic.com for more articles like this. Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®
About BigMama
