Blues Busters Feature in Tennessee Foreclosure Homes

By: philip smith

A word or two about the hidden treasure to be found in Tennessee foreclosure homes. Moving to Tennessee? It's not just about the music, splendid sunrises over blue mountain ranges, monuments to great historical events or a prized, simple and affordable, healthier way of life.

From faded Memphis mansions to Chattanooga cabins, an amazing snapshot of the American family home style over the last century can be found mirrored in foreclosures across the state. Prices flattening in some areas and a drop off in housing sales don't help the borrower in default to refinance or sell the family home before the auction, and a glut of bank owned houses combined with tightening of home equity loan finance requirements mean buyers are far fewer than sellers.

Shelby County, county seat Memphis, is the hardest hit. Farms and sturdy country cottages vie with modern glitzy downtown townhouses in the foreclosure listings. Canny home buyers know that average sales prices of foreclosure homes this quarter in suburban areas are among the lowest in the state and, indeed, the nation. Investors must sense that Lender flexibility in negotiations and fatter discounts are in the fall wind.

If climate, lifestyle and space are top of your wish list, don't overlook East Tennessee where rural land potentially converted to recreational property for your future retirement is yet one more option for foreclosure investment. Golf, fishing, hunting and water sports found in East Tennessee's lake and river systems are just a few of the attractions for retirees. Although many predict the current rate of foreclosure filings around the larger cities is here for some time, buying a below market price property right now from the owner/borrower under notice of default can generate an immediate and significant amount of equity. Knoxville is famed as a great place to live and do business, Chattanooga ranks as one of the best cities in the world. And yet the cost of living in the state is low, that in Knoxville less than half the national median. How can you pass up this chance to make the most of your move?

Foreclosures
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 

» More on Foreclosures
 



Share this article :
Click to see more related articles