The Ashton Real Estate Group specializes in Nashville foreclosures. Let us help you find the perfect foreclosed property in Nashville, Tennessee.
Nashville Foreclosures Close
As the rest of the United States sees the real estate markets suffering from the impact of the credit crunch and the sub prime mortgage collapse, Nashville is not entirely immune.
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Preparing to buy or sell a foreclosed home in Nashville? Call The Ashton Real Estate Group of RE/MAX Advantage at (615) 603-3602. Our community of Nashville RE/MAX agents are here to help guide you through the Nashville housing market in Tennessee.
The growth of real estate values in Nashville was steady over the last 10 years. There was never actually any big boom period where values were visibly rising every day like in California and Orlando. The steady growth has left us with a real estate market that still represents good value and affordability, however, the sub prime mortgage market was still very attractive to many home buyers and as a result the foreclosure rate has been on the increase in Nashville.
The ability to find a good deal is something that the agents at The Ashton Real Estate Group have prided themselves in over the past 8 years.
Here is a recent quote about the state of the foreclosure market:
“Although much of the fallout from foreclosures is being driven by rampant activity in a few states, such as Nevada, California, Florida, Ohio, Arizona and Michigan, most areas of the country are seeing at least some increase in foreclosure activity,” said James J. Saccacio, chief executive officer of RealtyTrac. “Forty-eight of 50 states and 95 out of the nation’s 100 largest metro areas experienced year-over-year increases in foreclosure activity in the second quarter.
“Bank repossessions, or REOs, accounted for 30 percent of total foreclosure activity in the second quarter, up from 24 percent of the total in the first quarter,” Saccacio continued. “This shift in the distribution of activity indicates that there is a progression toward purging the problem loans out of the system — at which point the housing market can regain some sense of normalcy. Of course if another surge in defaults occurs, which could well happen later this year, it would refill the foreclosure pipeline and prolong the recovery.”
Tennessee’s foreclosure rate ranked 13th in the U.S., while Nevada, California, Arizona, and Florida ranked 1st through 4th in the nation, respectively.
Memphis ranked 25th in the nation with a rate of 1 filing for every 105 households, Nashville ranked 56th with a rate of 1 filing for every 238 households, and Knoxville ranked 75th (a rate of 1 out of every 354 households). (Source RealtyTrac)
Preparing for the sale or purchase of a foreclosed home in Nashville? Let our local Nashville RE/MAX agents work with you to navigate the purchase of or expertly negotiate the sale of your Nashville home. Our expert knowledge will give you access to up-to-date information about the unique market dynamics of the Nashville real estate market. We're ready to help you today!
Contact The Ashton Real Estate Group of RE/MAX Advantage to learn more about buyer and seller representation for Nashville foreclosures. Visit our comparative market analysis page to receive a free home value estimate in Nashville within minutes.
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The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of RealTracs Solutions. Real estate listings held by brokerage firms other than The Ashton Real Estate Group of RE/MAX Advantage are marked with the Internet Data Exchange Program logo or thumbnail logo and detailed information about them includes the name of the listing brokers.
Disclaimer: All information is believed to be accurate but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal.
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Listing information last updated on July 27th, 2024 at 12:39am CDT.
