Impact of vacant homes on real estate

Vacant homes can decrease property values in the neighborhood. “The Center for Responsible Lending, a nonprofit research group, estimates that a home’s value is reduced by about 1% for every home that is foreclosed on or sits vacant in the neighborhood.” Problems arise when strangers enter the house at all hours, and a vacant house fire is a threat to life and property in the area. The writer and her husband are attempting to make the house safe yet uninviting to predators.

Anne-Marie Siudzinski

Anne-Marie Siudzinski MS, AWHD, e-Pro®, Green, RSPS, SRES, is a senior information specialist for member support at the National Association of REALTORS®.

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