The following article gives information on Atlanta Real Estate Foreclosure Report. In real estate, small improvements have been realized in the market for Atlanta area homeowners. Although the number of homes that are still for sale in the marketplace is still rather high, there has been some significant improvement in the Atlanta housing industry this past quarter. There has been a decrease in the number of single family homes on the market in the Atlanta area which may mean good news ahead for homeowners in the area.
In the last quarter, home sales have risen along with the prices of those homes offering some enthusiasm for homeowners and investors alike. The recent downtrend has been seen as good news for investors seeking to purchase homes at discounted prices.
However, on the flip side of the coin, homeowners looking to sell have been severely disappointed at the decline in housing prices. Some even having to take a loss on investments. The lack of buyers has led to a great deal of foreclosure activity as many investors have had to simply walk away from properties that they could no longer afford to carry. This, combined with the recent decline in unemployment, has created quite a problem in the recent past for Atlanta real estate.
It is reported that the surplus of single family homes on the market in the Atlanta area has declined by roughly 6647 homes between March and June. There has been a total reduction of single family homes by 21,182 homes since last year. They are seeing the same sort of results in the multi-family sector, but to a slightly smaller extent. The rush for investors to pick up these discounted properties is one of the main reasons for the increase in property value and the decline in homes available on the marketplace.
There is no guarantee that this trend will continue at such a rapid pace because once investors see the homes as no longer being a bargain, the trend will likely slow down to a more even balance. For now, this buying frenzy may well be giving the Atlanta housing market the jump start it needs to regain it’s former value.
A great many of these single family homes as well as condos and multi-family units are being purchased at foreclosure auctions. This may not seem like much help for increasing the value of the homes on the surface, but as they become more scarce in the marketplace it is only a matter of time before we begin seeing a significant rise in the value of these properties.
The total of home sales rose roughly 32 percent this last quarter, which is great news for the Atlanta area economy. Although property sales are still down by nine percent for the year as a whole. The decline in single family homes is a good indication that other property will soon follow suit. If all goes well and investors continue to buy homes in the area, this may be the sign of better times to come for Atlanta real estate investors and homeowners alike.