The local REO market probably seems bad to most. The number of foreclosures are up and every month we see more and more in our local newspapers. However, the northeast Georgia area really has it made compared to many other states. I communicate with other REO brokers throughout the U.S. on a weekly basis and many states have it worse than Georgia. When considering the local market we see that northeast Georgia has has a much better ride than many other parts of the State. The metro Atlanta area has seen values decline drastically and larger numbers of foreclosures flooding the market.
I am seeing the number of assignments to agents increase, but not by a huge margin. Those of us who have been in the "foreclosure business" for years know that they have always been here but are now gaining more attention. Of course there is an increase, but try to keep in mind to be thankful that it is better in Northeast Georgia than many other places.
Let us know if we can help you. Our properties still routinely sell for 94%+ of list price and often in less than 60 days.
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