Sometimes being the top of a list is not exactly where you want to be. I read in the Atlanta Journal this morning that in May, Georgia was top of the list for new foreclosures. Yay. What a terrific list to be on top of. It also went on to say that sales are up as well. Anyone in this area will agree that sales are way up this year.
Georgia has taken a big hit over the past several years in the economy because we had so many jobs linked to the now devastated construction industry. It has been really tough for many home owners to hang on to their homes. The small silver lining here is that there are homes out there that are good deals for both owner occupants as well as investors. As a matter of fact, I have been hearing rumors of large, bulk sales of these homes coming. They will be fixed up and converted to rentals.
I have personally sold more resales this year so far than foreclosed properties. But with numbers like what was reported in the paper this morning, it will surely mean more foreclosed property sales in the future. If you are looking for a home and don't mind a little "Sweat Equity", now is definitely the time to be looking at these homes. For everyone else, there are plenty of homes available and with interest rates so low, now is definitely the time to buy.
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