Atlanta Foreclosure Homes: Are There Better Deals Out There? By Eric Mabo At Isnare.com Ezine Articles

Atlanta home Buyers ready to buy now will find many foreclosure homes listed by various real estate companies. Some of them are listed at market value, some are overpriced and stay on the market for a long time. However a few of them represent a good deal for the home buyer, because they are either initially priced below value, or were initially overpriced, but the bank became very motivated to sell after the home had been sitting on the market for too long. The home buyer has to know where to find these good deals, or he/she needs to use a savvy real estate agent to help them locate these homes priced below value.

Many Atlanta home buyers think that foreclosure homes are usually in very bad shape and need a lot of work. As a matter of fact there are many new homes in the market now that are foreclosures. Some of these homes have never been lived in. Some of them are foreclosures from builders, who were building spec homes and have not been able to sell them as the number of move-up home buyers has dropped. There are fewer move-up home buyers today, because these buyers are not able to sell their homes and are forced to stay in them, because there are also fewer first-time Atlanta home buyers on the market. A few Atlanta home builders have had to declare bankruptcy, or had to auction their inventory because they were not able to keep paying the mortgages on these homes. This presents an excellent opportunity for the smart Atlanta home buyer. These Atlanta home builders are ready to sell at a huge discount.

Atlanta, Phoenix and Houston have had the highest number of single family home building permits issued this year. This combined with the fact that Metro Atlanta is the fastest growing Metro Area in the nation presents an excellent opportunity for the smart real estate investor to buy at a home at a low price knowing that there continues to be a high demand for housing as people are moving into the Atlanta Area.

In addition to finding great deals from desperate Atlanta home builders, savvy real estate investors and first-time home buyers can find very good deals if they shop for HUD homes and REO properties from large banks. Both HUD and the large banks try to recover as much as possible, when these homes go into foreclosure. The Home Buyer will easily notice that a lot of these homes are not actually priced below value initially. You will have to wait for some time until the bank becomes motivated and drastically drops the price. This presents a great opportunity for a savvy home buyer to pick up a bargain property. You have to work with a real estate agent, who knows when these prices are being reduced by the bank.

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