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Atlanta, GA foreclosed homes for sale



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By : Julie Thompson    99 or more times read
Atlanta, GA foreclosed homes for sale have experienced a rapid increase and infamously moved to the second highest slot in the entire country. More specifically, we need to understand the reasons for the thousands of foreclosed homes for sale in Atlanta GA. Even as we seek to understand how things ended up this way, we will briefly examine opportunities presented by this situation to the savvy homebuyer.

The number of homes on the market in Atlanta has risen nearly twenty-nine percent in recent months. Like in most other parts of the country the current housing market crisis in Atlanta GA can be traced back to bad mortgages. Lenders went on a frenzy to dish out all manner of enticing mortgage products without putting much thought to the homebuyers’ financial ability. Lenders liberally offered products to very high-risk borrowers.

There was even a ‘No Income, No Job and no Assets’ product! Thousands were permitted to borrow huge amounts of cash with little or no proof that they could make payments. Homebuyers took up the offers with glee. By the time the property value bust happened, 4 in 10 people owed more in mortgages than their homes were worth. Many of these people are now gone defaulting on payments and even losing their homes in foreclosures. This is the main reason for the rise in Atlanta, GA foreclosed homes for sale.

It is not gloom for everyone though. Atlanta, GA foreclosed homes for sale represent an unprecedented opportunity for many buyers. In better economic times, prices of homes in Atlanta would be above the reach of many potential real estate buyers. From a wide range of foreclosure listings readily available it is possible to buy foreclosure homes for up to fifty percent discount! The glut of homes in the market offers remarkable bargains for qualified buyers.

For those interested in taking advantage of Atlanta, GA foreclosed homes for sale there are many options. Government foreclosures are available for purchase through bidding. There are bank foreclosures available for purchase directly through the banks, while some foreclosures can be bought through auctions. While an end will sooner or later be in sight for the foreclosure situation in Atlanta, the reality at the moment is that home prices continue to head south. While some weep, many will also continue to enjoy real estate bargains of a lifetime in this city. This is the paradox of the credit crisis.

Julie Thompson, has been working on ForeclosureDataOnline.com studying the foreclosures market, helping buyers on the finer points of foreclosed homes for sale. Try to visit ForeclosureDataOnline.com and begin your foreclosures by state search.
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Julie Thompson, GM Sales & Marketing, ForeclosureDataOnline.com


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