Atlanta Foreclosures and the Atlanta Real Estate Market!
By Jim Crawford, Jim Crawford Broker Associate Fredericksburg VA
(Long & Foster)
Atlanta foreclosures. I was reading an CNN Money article today about foreclosures in the sun-belt and rust belt, and thought I would share some insights! Most Atlantan's do not realize how much foreclosures are impacting our real estate market. Declining sales, falling home prices are just the beginning. Vacant homes are also what we call an "Attractive nuisance!" There unoccupied status invite mischief, crime, and vandalism. No neighborhood is exempt from this blight! In Atlanta foreclosures are exceeding sales 2 to 1! We sell about 3000 homes a month, and there are over 7500 new foreclosure filings every month! Since Atlanta and Georgia led the nation in the last few years with sub-prime mortgages (over 52% of all loans in Georgia were no money down)! Well those home buyers cou...
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