From Pine View Farm

Update from the Foreclosure-Based Economy 0

Flip this flop:

Metro Atlanta’s depressed home prices are drawing the interest of a new type of buyer – companies that buy houses in volume.

Such companies have snapped up foreclosures and short sales in the last few months from Gwinnett to Clayton counties, as well homes listed conventionally by realtors. And they say they plan to spend hundreds of millions on homes in the next two years.

Some of the purchasers expect that a strong long-term rental market; they are renting out the properties, often to the persons from whom they bought them.

Others are carrion-eaters, letting houses sit, empty and forlorn, waiting for the market to go up.


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