5/3/12 * The Hook [full story]
The number of vacant houses has fallen by more than a third. Could this be the recovery sign that blogging realtor Jim Duncan hopes it is?
On April 20, Duncan posted an entry on realcentralva.com that noted, according to his calculations, that the percentage of vacant homes listed for sale in the Multiple Listing Service has fallen from 36 percent in 2007 to 23 percent today.
First, what's so bad about vacant homes? For starters, even under the best of circumstances, some insurance companies require an inspection before agreeing to underwrite a home that has been vacant. Other insurers demand something called a vacancy endorsement if the house is going to be uninhabited for more than 30 days after the purchase.