A recent Marietta Daily Journal article focuses on the high foreclosure rate for the Cobb County area. The article said that almost 1,200 homes from Cobb alone would be auctioned off in August, but that many local home builders, such as Stonecrest Homes are still able to compete.
The number of homes being auctioned off in August is the highest for this year, and is over 8 percent more than August 2011. However, only a little over 7,000 homes have been published from foreclosure between February and August of this year, which is a 24.8 percent decrease from this time last year. And, while RealtyTrac reports that foreclosures are down across the nation, Georgia still posts the third highest foreclosure rate in the first half of this year.
However, Jim Chapman of Stonecrest Homes, isn’t too worried about how these foreclosures will affect his home sales for the future.
“Most of these foreclosures are now getting bought up by investor-types who are going to end of renting and then gradually putting them back out on the market as prices firm back up or increase at a later date,” said Vinings-based home builder Jim Chapman.
“You still of course need to be in a good location, building the right things and well-priced,” he said. “If you’re in all those situations you can compete against foreclosures and/or the resale market period.”
Jim along with Charles Heiser run Stonecrest Homes, which builds gorgeous new homes in Cobb, Fulton, Gwinnett, Forsyth, Douglas and Hall counties. Visit www.StonecrestHomesGA.com to learn how you can own an affordable home of distinction today!