The Tri-Cities area housing market is not a good place for zombies – at least not those of the foreclosure ilk.
RealtyTrac’s Q3 Residential Property Vacancy and Zombie Foreclosure Report there were 18,304 housing zombies out there. A housing zombie is a vacant property active in the foreclosure process. That accounts 4.7% of all residential properties in foreclosure and it down 9% from Q3 last year.
Here in the Tri-Cities region there were only six zombies: three in Greene Co.; one in Carter Co.; one in Hawkins Co. and one in Wise Co.
During the quarter there were 108 area properties that were in the foreclosure process.
The two largest housing markets – Sullivan and Washington CO. TN – accounted for 69 of those in-process foreclosures, but no zombies.
Here’s a snapshot of the share of total vacancies that properties actively in the foreclosure process claimed in Q3:
- Carter Co. – 1.1%
- Greene Co. – 0.9%
- Hawkins Co. – 0.99%
- Johnson Co. – 0.8%
- Sullivan Co. – 2.4%
- Unicoi Co. – 1.5%
- Washington Co. TN – 4.8%
- Bristol VA – 1.6%
- Lee Co. VA – 0.5%
- Norton – 0%
- Scott Co. VA – 22% (Scott Co. had a total of nine vacant properties – the lowest number in the region)
- Washington Co. VA – 7.5%
- Wise Co. VA – 0.6%