Market Report – Clayton County GA Foreclosures Highest in Metro Atlanta

By
Real Estate Team Leader with Solid Source Realty GA 320764

Market Report – Clayton County GA Foreclosures Highest in the Metro Atlanta

Good news for bargain-hunting property buyers, not so good for some property owners: Georgia has long held the dubious distinction of being one of the hardest hit states for foreclosures. Clayton County has been particularly ravaged. The latest Realty Trac report shows that the Clayton County real estate market had 2931 foreclosure filings in November 2011. That’s 1 in every 155 houses.  Compare that to the national number -- 1 in every 579 U. S. housing units that had a foreclosure filing in November. The state of Georgia’s foreclosure activity spiked 23% in that same period, reflecting the 5th highest foreclosure rate in the nation. And Clayton County is one of the hardest hit counties within the state.

The Metro Atlanta real estate market may be in for another big wave of new Clayton County short sale and Clayton County foreclosure sale inventory coming available in the near future.

For the past several seasons I’ve noticed that foreclosure tend to slow down this time of year.  This year seems to be following suit, and that is a good thing. No one wants to think about neighbors losing their homes during the holidays.

But this slowdown has usually been temporary, with notices going out again early in the new year. This year will be no exception, according to industry predictors. In fact, the latest Realty Trac report projects that a new wave of foreclosures will be rolling onto the market in early 2012 as bank-owned property resales or short sales.

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Topic:
Real Estate General Information
Location:
Georgia Clayton County
Groups:
Atlanta Real Estate Q&A
GEORGIA REAL ESTATE INVESTORS
Market Reports
Posts to Localism
Short Sales Pre Foreclosures Bankruptcy and More!
Tags:
clayton county real estate market
clayton county short sale
clayton county foreclosure sale

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Rainmaker
1,111,712
Richie Alan Naggar Author PEARLS SERIES of books
on LIFE and LOVE plus Real Estate too!
People first then business! Ran Right Realty Riverside, Ca

There is something for everyone here and I know you will help guide many to their new homes

December 20, 2011 10:45 AM
Rainmaker
380,167
Elva Branson-Lee
CDPE - Atlanta Real Estate & Short Sale Agent
Solid Source Realty GA

Richie - It's true, there are many bargains to be had in Clayton County today. Some people have been able to seize the day and finally get into home ownership at a fraction of what it would have cost a few years back.

December 20, 2011 10:45 PM
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Rainmaker
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Elva Branson-Lee

CDPE - Atlanta Real Estate & Short Sale Agent
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Additional Information

Author Bio: Elva Branson-Lee, CDPE, CIAS, IMSD, is the Executive Team Leader of the Best Atlanta Short Sales Team, Atlanta's premier short sales specialists. She is also the author of "Avoid Georgia Foreclosure."