Would You Rather Have That House Rented OR Vacant?

By
Real Estate Appraiser with PahRoo Appraisal & Consultancy

As the Federal Government seriously takes on the task of dealing with the inventory of foreclosed properties in this country (and we here in the greater Chicago-land area made the unfortunate top 5 list of cities with significant federal concentration of foreclosed homes), it begs the question:

Would YOU rather have the house on your block (which the prior owner lost due to foreclosure) vacant or rented?  and why?

Michael Hobbs, PahRoo Appraisal & Consultancy

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Topic:
ActiveRain Community
Location:
Illinois Cook County Chicago
Groups:
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Tags:
foreclosure
federal government

Comments 3 New Comment

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Ambassador
671,201
Karen Crowson
Livermore Wine Country Homes
Alain Pinel Realtors, Pleasanton, CA
Wow, hard call. It's often very tough to sell a house with tenants in it. I'd tather have neighbors, than a vacant house next door though.
January 13, 2012 11:44 PM
Rainmaker
39,730
Mike Liess
Remax Custom

Occupied properties rather than vacant. As long as the owner is not a slumlord and drives the neighborhood down with poorly screened tenants.

January 13, 2012 11:51 PM
Rainmaker
180,681
Michael Hobbs
SRA, LEED GA, RAA
PahRoo Appraisal & Consultancy

Karen, I completely agree.  Generally much easier to keep the house intact with it being occupied than with it being vacant.

Mike, of course!  that is definitely the risk.

January 15, 2012 09:18 PM
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Rainmaker
180,681

Michael Hobbs

SRA, LEED GA, RAA
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