Atlanta Real Estate Investor Blog

News and opinion affecting the real estate investment community in Atlanta, Georgia, written by a practicing real estate closing attorney.

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      • Financing Just Got Tougher For Real Estate Investors
      • Steep declines in home prices continued in Februar...
      • Foreclosures increase for the seventh consecutive ...
      • Number of vacant homes hits record high
      • New home sales at 16-year low
      • Despite economy’s rumblings, Atlanta looking up
      • Existing home sales slip in March
      • Record number of foreclosed properties up for auction
      • New home construction at 17-year low
      • Builders: Little Confidence
      • Foreclosures Jump
      • All-time Low for Pending Home Sales
      • Snapshot: Atlanta
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Tuesday, April 15, 2008

Foreclosures Jump




More bad news from RealtyTrac: foreclosure filings increased 57% in March 2008, compared to last year’s levels. Foreclosures also are up 5% from February, showing that the housing market is continuing to slide.

Leading the nation were Nevada and California. It is Nevada’s 15th consecutive month as the state with the most foreclosures.

Year-to-year, the number of properties repossessed by mortgage lenders has increased 129%.

Georgia is still among the states with the most foreclosures, with only Nevada, California, Florida, Arizona and Colorado with higher foreclosure rates. One in every 351 Georgia households received a foreclosure notice. Georgia also totaled 11,047 homes in foreclosure – the fourth-highest in the nation.

Again, as a lawyer for real estate investors, the story remains the same: investors should plan on these levels of foreclosures continuing for the foreseeable future.






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Posted by Anonymous at 11:44 AM    

Labels: Foreclosures, RealtyTrac

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