In some places, the market is saturated with foreclosures. Knoxville, is not saturated but does have its share. Currently, there are a 179 active forclosures (there are a number of Pending sales), and according to RealtyTrac, "1 in 796 housing units received a foreclosure filing in September 2011". Today, "The Donald" says it's time to get off the fence. Invest in real estate.
"This time is a great time to buy a house, but only if it is owned by a bank," says Trump. "If a bank already owns a house, they are dying to get rid of it and they will give you all the loan you want because they have to get rid of those houses."
Right now, active foreclosed properties in Knoxville range in price from $8,500 to $1,000,000, the average price is $138,658. You can find one east, west, north or south, nearly any area that suits you in Knox County. (This list includes all active foreclosures in Knox county, including bank owned properties.)
As you may imagine, some of these properties may need renovations, some serious renovations. As the consumer, you should be realistic about possible problems you may face with some of these properties, so a good inspection should be high on your list. That said, there are some fabulous investment properties here.
If you have been thinking about investing in real estate, now is the time. I love working with investors, so drop me a line, or give me a call.
"The Donald" says it's time to get off the fence! Invest in real estate.
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