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Home Foreclosures Up–Resales Less

According the AJC, more homes are being foreclosed than being sold. For the seven county metro area during the 1st six months of 2010, 13,077 homes in Cherokee, Clayton, Cobb, Dekalb, Forsyth, Fulton and Gwinnett Counties were foreclosed. That is a 29% increase in the foreclosure rate over the same period in 2009. For the sale of these foreclosed homes, only 9,082 foreclosures were sold during the 1st six months of 2010. This represents a decrease of 47% in foreclosure sales compared to 2009. With such a large inventory, what a great time to purchase investment homes.

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