DeKalb County has been exerting efforts to stop further Decatur pre foreclosures and repossessions. Decatur is the administrative seat of DeKalb County and an inner suburb of Atlanta.
In May, there were 1,419 homes in DeKalb County posted for public auctions scheduled in June. Although this number marked a decrease from the 1,442 homes posted for auction in April, the overall total of homes in Greater Atlanta in May marked an increase of almost one percent from total postings in April.
In the entire metro Atlanta, a total of 9,587 homes were listed in May for the June public auctions, a jump of 10 percent from the total in May 2009 and a slight jump from the 9,494 homes posted for auction in April.
As unemployment is among the major factors for foreclosure in metro Atlanta, the DeKalb Workforce Development has recently organized a free employment workshop called Empowerment 2010. With the help of professionals from Monster.com, attendees were taught job hunting techniques and networking tools so they can find jobs during this difficult employment environment.
A small job fair was also held to enable participants to apply what they have learned and to provide employers opportunities to promote their services.
Another project launched by DeKalb County to mitigate Decatur pre foreclosures and repossessions was the demolition of the unoccupied Blue Sky condo complex on Memorial Drive in Decatur, most units of which had been foreclosed upon or unsold. The building has become a haven for criminal activities and squatting, putting residents in nearby buildings at risk.
Officials said that the Blue Sky condo was built as an apartment building in 1965, but it was later converted into condos and sold individually. Certain investors, however, resold several units many times over, with a number engaging in mortgage fraud to profit from the properties. When the housing crisis hit, the investors walked away.
Since then, police officers have raided the complex a lot of times to make arrests and county officials have issued multiple notices concerning delinquent taxes and utility liens on the property.
Just like a number of selected foreclosed homes for sale across USA, the Blue Sky property would be demolished with funds granted under the Neighborhood Stabilization Program. The county has chosen Real Estate Alliance Partners and Salomon Real Estate Services to carry out the task at a cost of $741,200. The demolition work is part of a $3.24-million development contract signed by the county with Real Estate Alliance.
Officers of Real Estate Alliance said they have been helping the county reduce the negative effects of foreclosures on communities.
In April, the pace of repossession and pre foreclosures in Georgia slowed down compared to the previous month, but it still increased compared to the April 2009 pace. Nearly 14,000 foreclosure actions were filed in the state during the month.
There were over 9,000 pre foreclosures filed in Georgia during the month, and a significant percentage of them were Decatur pre foreclosures, as Decatur is part of the Atlanta metropolitan area.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.
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