If you own real estate in Georgia, your valuation likely has been rocked by the extreme number of
foreclosures that have occurred in the past few years. It seems like every time our home market has tried to recover, along comes another 10,000 homes going to the auction block.
For the most part, those homes go back to the first mortgage lender, who lists them for sale with a real estate agent. As the house sits vacant, it drags down property values because of its deteriorating condition. If it sells at all, the sale is often at a huge discount, further undermining values in the neighborhood.
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