Wednesday, April 4, 2012

Foreclosures expected to soar

Buyers hoping to pick up a bargain on a foreclosed home won’t have much luck in Green Hills or Belle Meade, where only a few dozen borrowers defaulted last year.

But homes by the hundreds faced foreclosure during 2011 in Antioch and a few neighboring ZIP codes, creating potential opportunities for deal hunters.

And if predictions hold up, there will be no shortage of deals in 2012.

Amid growing signs that foreclosures have tapered off and the local housing market is recovering, it now appears that another string of foreclosures could hit Middle Tennessee.

The foreclosure reprieve has offered a false sense of confidence to the local housing market, according to real estate analysts, since several factors expected to come together in 2012 may trigger a rash of new foreclosures. Read More