Foreclosures in a 11 county metro area for 2011 declined 38.9 percent according to Date Intelligence Corp. to 13,155 units with an average sales price of $171,488. In 2010 there were 21.710 foreclosures that had an average sales price of $191,932. The price decline in one year is over 10.5% but does not reflect a complete picture of value of each area, neighborhood and home. Every community as there own unique set of statistics. Metro Atlanta is like ” swiss cheese”, pockets of strength and pockets of weakness which are improving.
The decline in foreclosures can be contributed to loan modification programs, mortgage moritoriums and other loan workout programs that have been put in place for now. The reduction of foreclosures in metro Atlanta makes this a good time to participate in the American Dream. Now is a good time for long term affordable home ownership opportunities when you compare today’s rates and monthly payments vs renting. Consumers as like businesses have done budgetary financial belt tightening to adjust to today’s conditions. Consumers who have taken to better control of their cost of living expenses and cleaning up credit, now have the opportunity to enter the housing market. ( See us online at atlantareo.com under Consumer Question tab to ask us a real estate question )
Tags: Atlanta Forclosures, Atlanta Property, Atlanta RealEstate, North Georgia Real Estate
