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The year 2020 figures to see plenty of homes up for auction on the courthouse steps in Atlanta, according to new findings.
Atlanta has been identified as one of the top cities with home inventories due to foreclosures, according to the ATTOM Data Solutions U.S. Foreclosure Market Report,
Foreclosure filings in the city went up 37% from 2018 to 2019, and there’s no sign it will slow down in the new year.
Atlanta To Be Near Top In Foreclosures In 2020
More than 143,000 U.S. properties had foreclosure filings in the third quarter of 2019, according to the report.
The ATTOM Data Solutions U.S. Foreclosure Market Report says more than 34,000 U.S. properties were foreclosured on (REO) in the third quarter of 2019.
That number constitutes a 6%-increase from the second quarter, but a 33% decrease from the same time a year ago.
Investors looking to find homes will not only have old inventory, but a fair amount of new ones that will flood the market, the numbers show.
Here are some of the other major cities with year-over-year foreclosure increases in 2019:
- Columbus, Ohio — 27%
- San Antonio, Texas — 4%
- Portland, Oregon — 22%
- Tucson, Arizona — 21%
According to Simon Campbell of BankForeclosuresSale.com – an online foreclosure finder – many cities throughout the United States will provide foreclosure investors with sound opportunities in the new year such as Dallas, TX or Atlanta, GA.
“At first glance, it appears that many of the same cities and states that have always struggled with foreclosures will once again be in this position in 2020.” Campbell notes.
“What we’re seeing is that some cities offer great investment opportunities, not just because of the volume of properties but also the value,” Campbell added. “As the first quarter of 2020 comes to an end, we’ll get a better idea of which cities have the most potential for foreclosure investing through the rest of the year.”
Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Keep up with what’s going on in Atlanta’s real estate scene here.More Articles From AtlantaFi:
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Homeowners looking to sell their properties will soon be able to request an offer from real estate listings site Zillow to buy their homes. The program, called Zillow Offers, is expanding to Atlanta after successful launches in Phoenix and Las Vegas.
The program is slated to launch in Atlanta in the fall of 2018. Zillow Offers will buy homes in the Atlanta market directly and prepare them for sale as well as list them.
Zillow Is Buying & Selling Homes in Atlanta
Zillow’s research shows that 71% of sellers are stressed out during the home-selling process. With the new program, potential home sellers can get a free, no-obligation cash offer from Zillow Offers within two business days.
“Sellers love Zillow Offers, because it’s a service that offers them more control and convenience – and less stress – when they sell their homes,” said Zillow Brand President Jeremy Wacksman.
New research shows that more Americans are struggling to come up with the downpayment for a home, a process that can be eased with a number of helpful programs. For renters in 13 of the country’s 35 largest housing markets, it can take more than 10 years to save the necessary 20% down on a home.
“Zillow has delivered that to sellers in our first two markets, and we’re excited to expand into Atlanta. Once we launch the program in the fall, we will be able to provide Atlanta-area homeowners with more choices, greater control, certainty about price, and transparency when it comes to selling their home – whether they take a cash offer or sell traditionally with a Premier Agent.”
In Atlanta, Zillow will forge partnerships with brokerage houses and agents to get leads for the Offers program. So far, Berkshire Hathaway HomeServices (BHHS) Georgia Properties and Better Homes and Gardens Real Estate Metro Brokers have signed on for the Zillow launch in Atlanta.
For local real estate agents, the new program will allow them to be matched up with motivated sellers. Zillow will pay a commission to agents when it buys and sells each home. Continue Reading…
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A new townhome development is coming to the Reynoldstown section of Atlanta, turning the landscape near the city’s downtown area on its head. The project will be anchored between Moreland Avenue and the Beltline’s Eastside Trail, according to Curbed Atlanta.The development will be called Mattie Branch and consist of rentals as well. Five of the 11 townhomes have already been purchased, but more are on the way.
The remaining townhomes will be priced around $550,000 for about 2,000 square feet, Curbed reports.
The townhomes will be designed in three styles — “Full Modern,” “Midcentury,” or “Farmhouse Modern”— “with siding made from trees felled on the site and steel porches forged by Reynoldstown’s own Stein Steel,” according to Curbed.
The new project joins a development of 20 condominiums at 45 Moda Reynoldstown townhomes, which will be ready somewhere in the second quarter of 2018.