Zombie’ foreclosure homes on the decline in South Florida
The number of “zombie” foreclosure homes in South Florida fell sharply in the third quarter, more proof that the housing market is returning to normal, a new report shows.
Palm Beach, Broward and Miami-Dade counties had 866 of these vacant properties in the July-through-September period, down 76 percent from the same period a year ago, according to the RealtyTrac listing firm.
Zombie homes are still mired in the foreclosure process. The owners have moved out, and the lenders don’t yet control the properties. In most cases, the homes aren’t being maintained.