Is it hard to sell a vacant home?
Is it hard to sell a vacant home? The short answer is yes, empty houses do take longer to sell than furnished, occupied or staged homes. A study from the Appraisal Institute found that vacant houses sold for 6% less than occupied houses and stayed on the market longer. Why vacant homes are bad? Vacant and abandoned properties are linked to increased rates of crime (particularly arson) and declining property values. The maintenance or demolition of vacant properties is a huge expense for many cities. It is critical to match strategies for combating vacancy to neighborhood market conditions. What does...