With all the negative housing news out there can you find good deals on Foreclosure Homes For Sale in Duluth? The easy answer is definitely YES but you have to be fast, have a decisive mind and plenty of cash. Investors and and other aspiring homeowners are finding that this market has a double edge...there are deeply discounted homes as REO's and Short Sales dominate but there just aren't that many TOTAL houses on the market right now. With demand strong and limited supply, the good deals are getting snapped up with multiple offers and often bidding wars.
The media is hyping stories about the huge number of foreclosures so you would think there would be tons of them. There aren't. There are just over 40,000 active homes for sale in Metro Atlanta right now, that is back to 2005 levels. To compare, we had more than 67,000 this time in 2007. Yes many of the total listings are short sales and Foreclosure Homes for sale, the combination of moritoriums, loan mods, government intervention and banks slowly releasing shadow inventory has limited supply. The government tax credit plan and the Fed buying mortgage securities to keep interest rates low has fueled demand and thus we have a odd market.
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