Albany housing market ripe for investors
Wed, 25 Apr 2012 21:01:56 GMT —
For today's Facebook story of the day, you wanted to know if house sales are going up or down in Albany for this year?
Patsy Martin, 2011 president of the Albany Board of Realtors, says we are at the bottom of the market right now.
However, when that happens, investors will come in and buy up properties to flip.
"I had a listing that we listed for $64,900. We've now reduced the house to $49,000, it has current tenants of $500 a month, so that's a great return for an investor," says Martin.
For the Southwest Georgia area, there have only been 245 properties sold since January first.