Condo units have been filling lists of Atlanta foreclosed homes for sale as more and more condo buildings fall into default. The foreclosure of condos financed by failed Corus Bank made a huge impact on condo prices in the metro area.
Buying foreclosed properties in metro Atlanta is still viable both in the residential and commercial sectors as foreclosure activity is still rising in both sectors. Recent multifamily foreclosures include properties owned by Dawson Co. Meanwhile, residential foreclosures involved nearly 79,000 in 2009.
Atlanta foreclosed homes for sale are still putting downward pressures on property values. Georgia Watch predicted that 1.8 million homes in Georgia will fall in value by $1,920 on the average.
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