Influence of foreclosures on property values

The increasing number of foreclosures in the current down market does not only hurt those homeowners who loose their properties, but it influences housing prices throughout entire neighborhoods.

Not only that low sales prices of foreclosed homes affect the market value of comparable homes in the area. Often these homes are vacant for months and nobody really takes care of them. What do you think will be the result for the neighborhood? Usually the values of the neighbor´s homes suffer, too!

If there´s only one home, there may not be much of an effect. But if there is more than one, you'll see a significant effect - and the numbers of homeowners facing foreclosure are rising steadily all across Florida.

If you are living in a neighborhood where a foreclosure sits vacant for a while and nobody is there to maintain it: team up and take care of the property! You can mowe the lawn, clean up and keep an eye on it. This may cost some time, but it will help to keep the neighborhood´s home values up!