Zombie Foreclosures, while fewer, are still quite prevalent in the St Louis area. So, what is a zombie foreclosure? Good question. It’s yet another term that has come out of the real estate bubble burst of 2008 and refers to homes that are in the foreclosure process and the owner has vacated the home prior to actually losing it as the foreclosure is not complete. These properties often become an eyesore and burden on the neighbors, and the city they are in, as they are sort of in “no man’s land” as the owner has left the property and typically does not continue to maintain it as they are losing it however, it is not yet foreclosed upon so the lender does not own it yet (and if it sells at the foreclosure to a third party won’t own it) therefore they normally do not maintain it. Therefore, until the foreclosure is actually final, the property often sits and deteriorates without attention.
Where in St Louis can you find Zombies?
As the table below shows, zombie foreclosures are concentrated, to a large extent, in the North St Louis County area with 5 of the top ten zombie locations being in North County. The 63136 zip, which encompasses all of Jennings as well as some areas around Jennings including part of north St Louis, is at the top of the list with 16 “zombies“, following by the 63031 zip area of Florissant with 13, and then the 63135 zip area, which is predominately Ferguson, with 11.
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In terms of highest percentage of zombie foreclosures, as the table below illustrates, the 63025 zip code area, which is largely Eureka, is number 1 on the list with 100% of the foreclosures in that zip being vacated by the owner during the first quarter of 2014 (although there were just 4). Next on the list at number 2 is the 63147 zip area of north St Louis with 75%, and then the 63117 zip (Richmond Heights) with 67%.
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