Atlanta Property Investment Opportunities as Foreclosures Still High

The latest data on the Atlanta housing market tells us that foreclosures fell slightly in September, but — not least because of the massive rise in August — are still at exceptionally high levels.

This August saw 2600 Atlanta homes reclaimed by banks, compared to 2016 in August 2009.

We don’t have figures on actual repossessions for September as yet, but Equity Depot figures reveal a 24% month on month decline in foreclosure notices. In August a record 13,360 foreclosure notices were issued, while in September the number fell to 9,975.

The decline was largely because of the calendar, said Barry Bramlett, president of Alpharetta-based Equity Depot. He said that the low number is because lenders didn’t have as much time to prepare notices in September, and that he has not seen any change in the overall situation.

In fact, according to the Equity Depot data the number of foreclosure notices so far this year is up 5.4% compared to last year.

The market for foreclosed and distressed Atlanta properties for sale is still quite small in the UK, with most companies favouring Florida, some looking at Chicago, but most overlooking Atlanta.

This is their loss, and Colordarcy’s gain. The great city of Atlanta is in the dumps right now, along with most of America. But it has a strong workforce and a sound economic base, which adds up to the potential for a strong recovery.

As you can see on our main website, we are currently offering investment property in Atlanta priced at just £38,000. The property has tenants in place, offering measurable rental income to a 12% yield. Call us today to find out more, or let us call you back.