Distressed Properties Sale Articles

Investors looking for cheap land for sale can find plenty of potential investments in idled subdivisions in metro Atlanta as banks that have foreclosed on the projects are now selling them at discounted prices.

Another bank was downed by assets in foreclosure for sale, putting the tally of failed banks in Georgia in 2009 at 17 and total failed banks in the U.S. this year at 78.

As inventories of foreclosed homes for sale increase, the median home price for a previously-owned single-family house in metropolitan Atlanta in the first quarter has declined by 25 percent compared to the median last year, according to a report from the National Association of Realtors.

Senate Bill 57 or the foreclosure bill is a legislative effort, which aims to help reduce Georgia foreclosures. It has received universal support on aiding local governments in dealing with code enforcement. However, different lending rules are proposed by housing advocates and representatives of financial institutions.

There is no doubt that the crisis in foreclosures is worsening. Recent surveys have all been proofs of the rising number of foreclosure properties in the country. With this situation in mind, some states did what they have to do in order to manage foreclosure crisis.