Forbes has ranked the Nashville metro area the number three best place in the nation to buy foreclosed properties. Check out the whole article here.
This is actually a good thing for all of Middle Tennessee, including Rutherford County for several reasons.
Also, “only cities on Forbes’ best places list, which measures criteria such as quality of life and the local economy (labor and energy costs, the regulatory environment, taxes) to find markets … where foreclosures aren’t symptomatic of local economic ruin, were measured.”
Forbes says distressed properties are a strong investment here because the real estate market is stable with the average home price rising 3.88% from 2006 to 2007. Additionally, the foreclosure rate is below one percent (0.86%) meaning the marketplace is not being overrun with foreclosed properties like some other areas of the country.
This article confirms what we’ve been saying for a long time: residential real estate in Rutherford County is a strong investment.
Tags: Buy Foreclosures, forbes, foreclosures, nashville, top
