I’m doing a quick look-through of the lastest home listings in LaVergne and … these prices are killing me! One home that has over 2000 square feet, four bedrooms, three baths, partial brick just hit the market two days ago for $94,800. Seriously? It’s a bank-owned property and these banks – in their efforts to get rid of foreclosures – are pulling down home prices for us.
Another home with over 1800 square feet, three bedroom, two bath, formal dining room, partial brick, two-car garage … bank owned (again!) … $89,900.
1620 square feet, built in 2005, three bedrooms, two baths, one car garage … $84,900.
The problem is then we see a home with 1200 square feet listed at $98,500 or another new listing with 1847 square feet for $149,000. Which home would you want to buy? The 1800 square foot home for $89,900 or the one for $149,000?
When banks come in and sell at these horribly low prices, all prices in the area drop. Is there anything we can do? Short of contacting your Senator or Congressman (and I doubt they’d help), there’s not much. You *could* buy it yourself and try to place good renters (with fair and equal housing laws observed, of course) or tell your co-workers, friends, or family about the houses if they’re in the market. I’m just shaking my head, though. Dang.