Metro foreclosure notices holding steady

Real Estate Broker/Owner with Rasmus Real Estate Group

The increase in foreclosure notices in mainly a prediction of the total distressed asset inventory we are going to see not just foreclosures. The metro Atlanta market is absorbing the inventory nicely though as multiple offer frenzy continues third month in a row.

By Christopher Quinn

Foreclosure notices in metro Atlanta during May held steady, avoiding both the longed-for decline and a feared second wave of rising numbers.

“Things are very consistent right now,” said Barry Bramlett, the CEO of Equity Depot, the Kennesaw-based real-estate analysis firm that gathers the data.

The raw numbers of foreclosures were up -- 9,539 to April’s 7,036 -- but May was one of the five-week counting periods that fall once a quarter, rather than a four-week count, so the rise was expected.

Foreclosure notices do not necessarily end in repossessions; they are an initial legal step in the process. Lenders may fail to proceed or move quickly, as some overwhelmed banks have slowed the process. Also, lenders can work with borrowers to find a settlement or write down loans.


Foreclosure Notices

County              May 2012            Monthly Avg. 2012

Bartow                    174                                  149

Cherokee                385                                 343

Clayton                   839                                 735

Cobb                    1,059                                  933

DeKalb                1,483                               1,298

Douglas                  367                                  308

Fayette                   142                                   127

Forsyth                  252                                   223

Fulton                  1,631                              1,488

Gwinnett            2,058                              1,704

Henry                      569                                  503

For full article, please go to  The Atlanta Journal-Constitution

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Comments (1)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Jude - Thank you for sharing detailed quality information on Metro foreclosure notices holding steady.

May 14, 2012 09:17 AM