Oct 30

Home Owners Near Foreclosures Feel Big Loss Too

Home Owners Near Foreclosures Feel Big Loss Too

Home Owners Near Foreclosures Feel Big Loss Too

Home Owners Near Foreclosures Feel Big Loss Too

Home owners living near a foreclosed property have faced about $2 trillion in losses to property values, according to a new report by the Center for Responsible Lending, which analyzed the impact of foreclosures on properties within one-eighth mile of a home in foreclosure.

“Communities with high concentrations of foreclosures lose tax revenue and incur the financial and  non-financial costs of abandoned properties and neighborhood blight, while home owners living in close proximity to foreclosures suffer loss of wealth through depreciated home values,” according to the report.

Home owners who live near a foreclosed property have lost, or stand to lose, about 7.2 percent — or $21,077, on average — of their home’s value, according to the report. In minority neighborhoods, the loss was found to be even greater: Home owners living near foreclosures lost 13.1 percent of their home value, or $37,084 on average.

Source: “Foreclosure Fallout Cost Nearby Home Owners $2 Trillion,” NBC News (Oct. 24, 2012)

admin

For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.