Short Sale vs. Foreclosures: the Neighborhood | Marshfield Real ...

Posted: 24 Jul 2012, KCM Blog

This week, we are looking at the advantages of a short sale over a foreclosure from five different perspectives: Sellers?, Neighborhoods?, Banks?, Prices and the Children. ? 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: It doesn?t contribute to the tax base of the region. It can be an eyesore and bring down the image of the area. It can be a breeding ground for insects (example: mosquitoes, ticks, etc.). It can be an incubator for crime if occupied by vagrants or transients. 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 .

Tomorrow, we will look at the impact of a short sale compared to a foreclosure on the banks.
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Source: http://marshfieldrealestate.wordpress.com/2012/07/25/short-sale-vs-foreclosures-the-neighborhood/

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