The Real Deal Miami

South Florida tops nation in “zombie” foreclosures

Region still inundated with abandoned properties
March 13, 2014 05:00PM

Abandoned home in Lee County

Abandoned home in Lee County

It’s not just about swanky mansion sales and rooftop condo parties in South Florida.

The region is still inundated with dilapidated homes, with 14,600 so-called “zombie” foreclosures lingering in the tri-county area, the Palm Beach Post reported, citing RealtyTrac figures. Foreclosed properties ignored by both lenders and borrowers are considered “zombies.” South Florida has more of the abandoned residences than any other large metro area in the nation.

Florida has a whopping 54,900 zombie foreclosures. The state with the second-highest concentration of such properties, Illinois, only had 15,510. [Palm Beach Post]Eric Kalis