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2133 Gwinnett Foreclosures Posted for January 2011

The foreclosure problem keeps pounding metro Atlanta’s housing market. 
Foreclosure notices in January were up 3 percent from December and 22 percent from a year ago, according to data released Monday by Equity Depot.
Barry Bramlett, president of Alpharetta-based Equity Depot, said there is “no real reason to predict a decrease with high unemployment and depressed housing values and sales.”
Foreclosure notices in the 13-county metro area set a record last year, as 127,140 ads were published by lenders.
The 10,013 notices published this month are for auctions on local courthouse steps set for next month.
Gwinnett, which topped all counties in the state last year, is still leading the pack. There were 2,133 notices there in January, followed by Fulton with 1,841. DeKalb was third with 1,572, followed by Cobb with 1,254 and Clayton with 864.
Sometimes, negotiations or partial payments can stop foreclosures after the notices are published. In January, Bramlett said, there were a high number of repeat properties — about 60 percent of the total — that had been advertised for foreclosure before. Still, he added, the percentage of repeat properties has been in the 55 percent to 60 percent range over the past year.
That can hurt the overall housing market over the long-term, Bramlett said. That’s because a high percentage of repeat properties means the efforts to avoid foreclosure failed, prolonging the problem and preventing the market from correcting itself.
Info by: Atlanta Journal Constitution 1/10/11

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