Realtors Seek New Ways to Sell Rising Foreclosure Properties – WPLN-FM (NPR) Nashville Public Radio

Realtors Seek New Ways to Sell Rising Foreclosure Properties – WPLN-FM (NPR) Nashville Public Radio
An 1899 Victorian Mansion in East Nashville is among the homes visited on the Foreclosure Road Trip

WPLN News Transcripts

 

Friday, March 6, 2009

 

By Kate Georgen

 

Rising foreclosures have Nashville realtors looking for new ways to sell their foreclosed properties.

 

In Davidson County alone, foreclosure rates are up 70 percent from this time last year. This week, Crye-Leike filled two charter buses with potential investors for a tour of bank-owned properties. The real estate agency has seen its foreclosure inventory more than double since this time last year.

 

Jon Schmarko took Crye-Leike’s tour. While the housing market here isn’t improving, he recently moved from Michigan to Nashville and says the investment prospects are better.

 

It’s not nearly as bad here in Nashville, there’s still a lot of good opportunity here. The market is totally different as far as bank-owned properties and the investment opportunities.

 

According to RealtyTrac.com, Davidson County has almost 2,000 foreclosed homes. More than 250 were added in January alone.