On the heals of a report published by the Nashville Business Journal on the increasing amount of home owners “UnderWater”, a condition where the mortgage balance exceeds the homes market value, more properties in Westhaven Subdivision are listed for sale as FORECLOSURE. Just today a home entered the market as a bank owned property in Westhaven, located at 426 Wild Elm.
The Nashville Business Journal article quoted statistics from First American CoreLogic, stating that as many as 11 million US homes did not have any equity at the end of 2009. That amounts to about 25% of all us homes. Fortunately for Tennessee home owners the percent of homes in the “under water” situation is about 14%. The article stated that the 24% nationwide stat is inflated due to the severe market conditions of a few states. Namely, Nevada, Arizona, and Florida with all over 45% of their home mortgages exceeding their market value.
Need to sell your home in Westhaven? We have the market research to provide you with the most up-to-date facts and we have the marketing for this economic climate to get your home sold. Underwater and concerned about foreclosure, call us to talk about a short sale, a sale of your home for less than the mortgage balance where the bank is involved in the loss. We can consult with you confidentially and put a plan in place to assist you with your home selling needs.
Considering buying, the market is still great for qualified buyers as prices are great. Go to our website to research properties for sale in Franklin, TN.
The Grumbles Team is our family serving your family with your real estate needs in Franklin, Tennessee 615-587-5843.
EXIT Realty of the South | 1227 Lakeview Dr. Suite 1 | Franklin | TN | 37067 | 615.550.5555
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