Now that school is out, the market is heating up and buyers are hitting the streets hard; and the Equifax Finance Blog wants to remind buyers that there are plenty of opportunities in the Atlanta area to snatch up outstanding deals for both homebuyers and investors alike. The new article, “Top 10 Cities for Buying Foreclosures” has key information if you are looking for a deal on your next home!
Atlanta placed in the top 10 list from CoreLogic due to our 33.7 percent distressed sale share, which is only down a little from last year’s 37.9 percent. Unlike many of the cities on the list, Atlanta enjoys a lower position because we have less than one year’s worth of distressed home supply and only 6.9 percent of our homes are 90 days or more delinquent, so the number we can look forward to coming through the pipe and onto market is less than many other areas.
It turns out that there are an increasing number of reasons to look to markets outside of the traditional bastions of foreclosures — California, Arizona, Nevada and Florida — as the excess inventory has been soaked up some. Now the focus is in the Midwest and Northeast, where judicial foreclosures are the norm, as well as areas with healthy foreclosure discounts for keen buyers and investors. Other areas on the list included Nassau-Suffolk, NY, Edison-Brunswick, NJ, Chicago, Orlando, New York, Tampa, Santa Ana, Seattle and Washington, DC.
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