Welcome to Nashville Real Estate Blog Sign in | Help

Nashville Real Estate - Nashville Homes

Real Estate news for Nashville, Franklin, and Brentwood Tennessee



Nashville Real Estate Search

Nashville Real Estate Investment Information

Nashville Foreclosures - We see less opportunity in foreclosures here in Nashville, but the trend is still the same. Here is information from the LA Times.

 Private equity firms and other groups of wealthy people are purchasing foreclosures at distressed prices, rehabbing them, and selling them for a quick profit. This used to be a game for amateurs, but because of the lack of other investment opportunities, the money-management pros have stepped in. The influx of new players is pushing up auction prices and making it harder to make a profit. The average discount at auctions — the difference between a home’s sale price and its actual value — is 21.6 percent, down from 28 percent in January 2009, according to ForeclosureRadar. 'In crisis there’s opportunity,' says Rick Hudson, president of investment firm Prosperity Group Real Estate in Irvine, Calif. 'Right now there’s huge opportunity with flipping houses.'Source: Los Angeles Times

Published Tuesday, December 07, 2010 9:36 AM by larry Brewer


No Comments

Anonymous comments are disabled