There are plenty of places to put your money. Given what’s happened in residential real estate, does bottom fishing still make sense?
Or is it smarter to think of a house as a home — and look for investments in other arenas?
The housing downturn has left Atlanta full of homes now priced near 1997 levels, AJC reporters Rachel Tobin and Tammy Joyner write.
But that has left a market of opportunities for those gutsy enough to go after them, the reporters write.
Making such a deal can take months and guarantees lots of near misses, Tobin and Joyner write. Many of these “deals of the century” often come with issues, such as poorly wired electrical systems, holes where $5,000 Viking ovens used to be, torn up floors and even missing sod, the reporters write.
So, is this the place to try to score big?
Given all that has happened over the past few years — and the backlog of foreclosed and soon-to-be foreclosed homes — I would not take the chance. But I’m a chicken with my money.
How about you?
- Henry Unger, The Biz Beat
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