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Short Sales vs. Foreclosures: the Neighborhood

From The KCM Crew,

A foreclosure, in most cases, leaves the block with a vacant home. A short sale does not. A vacant house in a neighborhood creates several challenges:

  1. It doesn’t contribute to the tax base of the region.
  2. It can be an eyesore and bring down the image of the area.
  3. It can be a breeding ground for insects (example: mosquitoes, ticks, etc.).
  4. It can be an incubator for crime if occupied by vagrants or transients.
  5. It can create safety issues for children (example: unguarded pool).

If a short sale is the result rather than a foreclosure, it is much better for the neighborhood.

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