Metro Atlanta Foreclosures Hit All Time Record
Posted by Brian Sims on Monday, April 5th, 2010 at 4:39pm.Foreclosure notices across metro Atlanta hit an all time high in March as 12,568 home owners received the bad news. In the 13-county area, Cobb county was 4th highest on the list, which includes Smyrna and Vinings Real Estate.
Though it's bad news for home owners who don't pay their mortgage, it certainly means there will be some great deals becoming available in the near future for prospective buyers. Banks will be listing the homes for sale once the foreclosure process is complete. One trend that is beginning to develop is banks are becoming more competitive in their list prices. Everything is negotiable but quite often they list homes at or below market value in order to move the properties quickly. In fact, they quite often receive multiple offers on well-priced homes and sometimes even sell above list price. This is a different strategy than seen in the past when they started high and ended up low. Now they start low and want to sell very near the listed price. Either way it still means a great deal for buyers!
Take a look at our foreclosure website for an up to date list of distressed properties available in Smyrna and Vinings. If you see something you are interested in, please contact us soon, as homes are starting to sell much more quickly as we head into Spring.
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