Metro foreclosure rates stay consistent in Atlanta
As 2012 approaches its midpoint, the rate of foreclosures in Atlanta has remained steady. Although this is not optimal for the market, it has made the process of buying one of the homes for sale in Atlanta easier and could influence the value of houses in the future. According to The Atlanta Journal-Constitution, the total number of foreclosures has declined from its peak (13,130 in August 2010), but this figure is still at twice the rate of what many experts would expect in a healthy economy.
In May 2012, at least 142 foreclosure notices were issued across the region. As a result, home prices have stayed depressed, simplifying the process it takes to acquire property in the area.
Understanding the foreclosure process might prove beneficial if you're looking to make a move to this metro. The news source notes that foreclosures are merely one step in a larger solution, and while some lenders could move quickly to sell a property, others have begun taking a slower, long-term approach.
If more lenders take the time to work with delinquent borrowers to avoid foreclosure and find an alternative solution such as a short sale, homebuyers may end up having more opportunities to obtain an Atlanta home.