Short Sales and Foreclosures in the Governors Club

Governors Club Foreclosures and short sales

It may sound strange to hear, but the Governors Club in Brentwood has become a ground zero for foreclosures and short sales. Currently, there are 44 homes listed on the market for sale, 5 of which are either a short sale of a foreclosure. However, the general trend has been for the less expensive homes in the neighborhood to be mostly affected. The highest priced distressed property is currently listed for $1,099,000 while 23 non-distressed properties are listed for more.

The short sale home pictured here is 4 Spyglass Hill. This property was previously listed on the market this May for $1,398,000 and was first reduced to $1,249,000 and now to $1,099,000 which is lower than its March 2006 purchase of $1,298,000. The home has over 6,000 square feet, 4 bedroom, 4 and 2 half bathrooms and a 3 car garage. It also has another rare feature…gap equity.

Should you be interested in purchasing a short sale or foreclosure in the Governors Club, be sure to consult an expert real estate agent as well as your attorney. Grant Hammond is that expert real estate agent. I can be reached via email or via phone 615-945-7123.

Since January 1st of this year, there have been a total of 11 closings, 3 are pending and 2 are currently working on offers. The most expensive sale recorded in the Governors Club in 2009 was $5.0 million. That property was originally listed for $7.9 million, not a bad discount.

Price Update September 2, 2009:

The price on this property has been reduced to $1,050,000. This is going to a heck up a deal for the just under million dollar buyer!

The property featured is listed by Silverpointe Properties from Franklin, TN.

Price Update October 14, 2009:

As predicted last month, this short sale in the Governors Club has now dropped to less than a million bucks $999,900. At just over $164/ft, this is one of the most aggressive prices we have ever seen in the entire subdivision and is priced at $300,000 less than original purchase price. Now is the time to act if you are interested.

Compare all of the area’s foreclosures and short sales on one website to find out is Spyglass Hill is the biggest steal in Brentwood.