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Commercial Homes for Sale Continued to Surge in Marietta

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By : John Cutts    99 or more times read
Commercial homes for sale continued to surge in Marietta in June, based on the number of properties posted for the July public auction.

A total of 1,367 homes have been posted for the July foreclosure auction in Cobb County, where Marietta is located. This number marked a one-percent jump from the total posted for July last year, when 1,354 public auction notices were published.

The number of homes posted for the July public auction was the third highest on record in the county. The highest was recorded in September last year when 1,609 homes were posted for the October 2009 auction. The second highest was in March this year when 1,551 homes were posted for the April public auction.

Homes posted for the Marietta foreclosure auctions are required by the court to be published for 4 consecutive Fridays before the auctions, which are held every first Tuesday of the month outside the Cobb Courthouse in downtown Marietta. For the month of July, commercial homes for sale will be auctioned off through the public auction on the sixth.

For the first 4 months of 2010, total foreclosure notices for the public auctions have jumped up by more than 17 percent over the year. Since February, a total of 7,607 homes have already been published for the auctions, up from 6,477 during the same period in 2009.

Not all homes described in the published notices, however, end up at the public auctions. A number of homeowners are able to make the needed payments to restore their accounts to current status or are able to delay the auctions through loan modification efforts or prevent foreclosure through short sales.

In May, the number of properties purchased or repossessed through public home auctions in Georgia increased to 5,299 units, up from 4,770 foreclosed homes for sale in April.

Statewide, total foreclosure filings dropped by 1.3 percent to 13,778, but total commercial homes for sale increased by 11.1 percent.

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