Foreclosures in Georgia Still Hitting State Hard

By: Joseph Smith


Despite a decline in home prices in the area, foreclosures in Georgia show no sign of letting up and that’s bad news for a state which so heavily prized its real estate market a few short years ago.

The latest news is that Georgia was still among the top ten states in terms of foreclosure numbers. That’s because foreclosures in Georgia have affected so many homes in the state. Although the numbers for October 2008 are slightly better than for the same time last year, the numbers did increase over foreclosures in Georgia for September 2008.

The worst part is that many in Georgia were probably expecting better numbers thanks to the decreasing costs of homes in the state. Once real estate in Georgia was some of the most lucrative and sought after in the country. As a result, the state’s real estate industry skyrocketed. Now with foreclosures in Georgia becoming rampant there are too many homes on the market to keep prices elevated. The result has been some pretty steep declines.

According to most sources, however, the problem with foreclosures in Georgia and other states is that the banks have made it so difficult for others to get mortgages buying a home has become impossible even for people who have not been part of this wave of home losses. This trend could mean low prices in George for quite some time. Georgia is definitely one of the places to visit if you want to do some real estate investing.

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Joseph Smith has been educating buyers on the finer points of Georgia Foreclosure Homes purchase at ForeclosureDeals.com for over four years. Click here to visit and read more advice on finding Foreclosed Homes.

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