Georgia Foreclosed Homes Decrease 4.35%

September 9th, 2009 | Tags: Foreclosure Business

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This number I think took everyone by surprise. All of the reports and indicators that people were seeing in the state of Georgia foreclosed homes from the mayor of Atlanta and the governor of the state seemed to shed light on the fact that the numbers from May into the month of July were going to be dismal at best.

Looks like the joke, as it were, is on the numbers people because the decrease was nearly four and a half percent. Part of this is attributed to the efforts of the local lenders to do whatever they could to try and keep folks in their homes. Also as the prices and values continued to drop more people were able to get an effective refinance deal that helped them save or at least temporarily stop the foreclosure.

While this is absolutely a good thing for the people that live in the state of Georgia, In fact it was almost like Christmas in July to some people to see the numbers drop that much when the expectation was for an increase. The truth is that this may just be the calm before the storm.

More people are taking advantage of the lower prices to purchase homes at this time but a good portion of those purchases are cash and not financed so they will have no impact on the next round of numbers. In fact it should have exactly the other effect and there is a very strong possibility that when the next numbers for the next several months is revealed the state of Georgia is likely in for a shock.

While the governor is saying that this is a milestone and that we seeing what could be a turning point. The people that truly understand the numbers and how things work generally disagree with that thought.

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