Usually when homes get bulldozed they are uninhabitable. The cost of bring them up to code doesn't make economic sense.
There are a lot of real estate paper holders who want to tear down abandoned properties so the market values on the remaining properties are kept artificially high.
It’s a paper game. The real value is not directly attached to the real property.
That’s why they are only advertizing or selling about 1/10th of the properties with Notice of Default.