Posted by The Keen Team on Wednesday, July 8, 2009 at 10:45:10 AMBy The Keen Team / July 8, 2009Comment
A record number of Atlanta foreclosures were on the chopping block at county auctions across Metro Atlanta on Tuesday. Estimates report over 10,000 homes were up for grabs. This number includes a record 2,500 homes in Gwinnett County -- one of the hardest hit areas during this economic recession.
What Does this mean for Atlanta Real Estate?
Well...there's good news and there's bad news. Good news first. Because of the sheer volume of foreclosures hitting the market this summer, it's a great time to take be a buyer. Prices will continue to remain at their 2001/2002 levels and with historically low interest rates, affordability is the name of the game.
An interesting subject for an article written in 2007, for sure. But it's the "sub heading" that really got me curious. Here's what it said:
The housing market may be melting down, but Business 2.0 worked with Moody's Economy.com to identify 10 cities that have just about hit rock bottom - and offer opportunities for savvy investors to get in while the getting's good....