For the May 2011 home auction in Marietta and the whole Cobb County, a total of 1,011 properties are scheduled to be offered. The total represents a 21% decrease compared with May of last year when 1,275 residences were submitted for auction sale. So far in 2011, a total of 4,905 foreclosures have been recorded in the county, a bit lower than the 5,076 auction notices recorded during the same 2010 period.

For the full 2010 period, home auctions in Georgia offered a little over 15,800 foreclosed properties from Cobb County. Although scheduled foreclosure auctions for May of this year have fewer homes than last year, local housing officials claimed that the market is still in a slump, although most of them feel that the worst of the housing market crisis is over for the region. They revealed that majority of the foreclosures that have recently entered the Cobb County market are products of a bad economy and the high level of negative equity in the region.

They predict that, as the economy improves and the prices of houses stabilize, fewer foreclosures will enter bank and VA foreclosure auction in the region in the latter part of 2011. Housing officials' optimism was also buoyed by the fact that a lot of buyers, especially investors, are taking advantage of the cheap prices of foreclosures and are picking them up from the market in considerable numbers.

Realtors agree with this observation, reporting that more and more buyers are going to foreclosed home auctions to seek out bargain-priced dwellings. They also reported that foreclosure rate in the area has eased down a bit; although they admit that a big reason behind this is the moratorium on foreclosures put in place last year. They are also encouraged by the fact that the unemployment rate of the county has declined in February, although by only 0.2%.

Housing market observers have stated that increased traffic in bank and VA foreclosure auction will benefit the whole housing market. However, most sellers are still in unfortunate positions since they are forced to lower their asking prices. Buyers however, are set to benefit from such low prices of residential properties.

Homes Scheduled for Bank and VA Foreclosure Auction Dipped in Marietta is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

Non-foreclosed dwellings and residential properties offered at Atlanta home auctions posted a price drop of 8.3% in February 2011 compared with one year ago. Meanwhile, statewide home prices were also down by 8.3% over the same period. The trend in the metro region and in the state was mirrored in the national market as residential prices all over the U.S. plummeted by 6.7% in February of this year compared with year-ago levels.

The continuous weakness in the housing market is not only evident in the prices of homes offered at foreclosure auctions in Georgia, but also in most U.S. residential markets. During the period, the biggest declines in housing prices were recorded in Idaho, which posted a price decline of 14.6%. Arizona was in second place with a 12% decline, while Florida recorded a drop of 11.2%. Michigan and Illinois rounded up the top five, with both markets experiencing residential price declines of 11.1%.

A few regions though, were able to ride out the impact of foreclosures and bank auction properties for sale and were able to post improved housing price numbers. Residential prices increased highest in West Virginia during the period, with rates climbing by 5.4%. New York, on the other hand, posted a price increase of 4.7%, while North Dakota recorded a jump of 4.1%.

Maine came in fourth with a price appreciation of 3.6%, while Alaska's housing prices climbed by 1.2%. Analysts have some more good news. They revealed that although prices overall have declined in most U.S. markets, when distressed properties offered at home auctions for sale are excluded, regular home prices are actually relatively stable. They stated that the latest data showed that, minus foreclosures and distressed homes, price declines have actually slowed down in most markets, with majority of them showing signs of stability.

Analysts further revealed that price declines were mostly isolated among distressed properties and bank auction properties for sale. They also stated that this trend will continue for a few more months as house sellers and lenders try to clear out foreclosed homes and distressed residential property inventories.

Bank Auction Properties for Sale Weigh Down Prices in Atlanta is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

Prices of houses sold at Atlanta home foreclosure auction and at non-foreclosed sales channels declined by 8% during the October-December 2010 period compared with the same quarter of 2009. When held against price data for July-September 2010, the drop was a mere 0.9%. The decline in metro area prices were mirrored at the national level as prices all over the U.S. plummeted in the last quarter of 2010.

Properties sold at home foreclosure auctions in Georgia were not the only ones that posted a decline in prices during the 2010 fourth quarter. Nationwide, house prices dropped by 4.1% last quarter compared with the 2009 fourth quarter. Moreover, nationwide prices have dipped to a level similar to rates recorded in the 2003 first quarter.

According to housing industry analysts, despite an economic improvement, the residential property sector continues to exhibit signs of weakness, with prices of repo homes and non-foreclosed dwellings continuing to decline in most U.S. markets. There is one glaring difference from previous periods though, analysts have stated. According to them, between 2006 and 2009, prices in majority of U.S. metro areas climbed or declined together, with most of them moving in the same direction.

Last year, however, prices of foreclosures in auction and selling rates of non-foreclosed residences vary from one state to another, with some posting massive declines while others recorded big increases. In California, for example, prices have recorded big gains after several years of floor prices. Meanwhile, areas like Phoenix, Miami, Tampa and Las Vegas recorded their lowest price levels in December 2010.

For areas that entered the foreclosure crisis later than other regions, such as Charlotte, Oregon, Seattle and Atlanta, prices of regular houses and repo homes hit new lows during the last month of 2010. Dallas, another market that experienced the foreclosure crisis later than others, was able to maintain prices above its record low posted in February of 2009.

Prices of Repo Homes and Other Residences Dropped in Atlanta is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

According to local real estate reports, around 50 church properties have been lost to foreclosure auctions in Atlanta, while a total of 90 churches have been under some stage of foreclosure during 2006-2010. Meanwhile, the past few months saw another handful of churches facing financial problems and are in danger of getting foreclosed. For Atlanta Urban, the problem is not actually foreclosure, but lack of funds to meet its monthly rent obligations.

The number of residential properties getting lost to foreclosure home auctions in Georgia has increased in the past few months and several churches have also joined these troubled homeowners. In the case of Atlanta Urban, the church was not able to meet its rental obligations after a grant ended and funds provided by the grant ran out. But the church is getting some temporary reprieve as an immediate eviction order has been taken back.

The church, which has been spared from lis pendens foreclosures experienced by other churches, was earlier told that the building should be vacated immediately, but the congregation was later given the chance to vacate the premises on its own. According to local reports, the church was saved from an immediate eviction by more than 50 children. The kids were reportedly in the building to participate in a child program when officials from the Fulton County Marshal's Department arrived to execute the eviction order.

The problem faced by the church is partly associated with the rising unemployment level of the metro area. As unemployment grows, the number of foreclosure houses at auction increases and churches suffer the same fate since a big percentage of their funds come from donations and pledges from church members.

Reports showed that the church has been unable to pay its rent for the past eight months as funding has dried up. Atlanta Urban is just one of the churches in the area facing financial troubles, with majority losing their buildings to lis pendens foreclosures.

Churches Facing Lis Pendens Foreclosures Get Reprieve is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

Marietta foreclosure auctions and other housing auctions in the rest of Georgia have always done better than most U.S. regions. However, the northern part of the state is reportedly starting to pull away from other local markets in terms of housing unit sales. The low prices of dwellings in the location and wide variety of choices offered to buyers have attracted a number of investors, particularly to Stephens County.

The huge amount of properties offered at Georgia home auctions has created a buyer's market in the region, realtors have stated. Local markets like Avalon, Martin, Toccoa, Cornelia and the communities near the Appalachian Mountains have recorded surging sales in the last three months or so, realtors have reported.

Low-priced foreclosed VA homes and other distressed properties are not the only ones getting snatched by buyers though, as even higher end properties are getting attention from would-be buyers and real property investors. According to local property agents, these areas offer an alternative to those who want to experience a more relaxed atmosphere that are often sought after by people living in busy metro areas. The northern part of the state is also largely known for outdoor activities and scenic locations which mostly attract second home purchasers.

Some buyers purchase homes from a foreclosed auction, while others go for lakefront villas and waterfront houses in the more luxurious neighborhoods fronting Lake Hartwell. Local realtors have reported that golf homes and houses in luxury communities are selling almost as fast as cheaper foreclosed houses. Majority of buyers, realtors have reported, come into the market to look for vacation dwellings or properties that they can invest in.

In a time when most buyers are reluctant to purchase bank foreclosures and foreclosed VA homes, the surge in housing unit sales in the region is very welcome indeed. Local real property agents have stated that they expect more buyers to arrive this year as interest among investors continues to rise.

Sales of Foreclosed VA Homes and Distressed Houses Rise in Georgia is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

As the number of foreclosed Covington home auctions and distressed properties all around the state increases, non-residential properties get dragged into the real estate crisis and churches are not immune. The building, which is home to a largely African American congregation, is reportedly facing financial difficulties mainly caused by a decline in membership. The church is said to be holding a $6,500 mortgage.

According to local residents, Flat Rock is not the first church to face the possibility of being sold at Georgia foreclosure auctions. Several other African American congregations are reportedly facing troubles related to foreclosures. The same problem is said to be present among African American households, with a big number of residential properties owned by black families reportedly on the brink of foreclosure.

The primary reason cited in the increased number of distressed homes for sale owned by African Americans is loss of job, much like what is happening all around the U.S. with all racial groups. However, some analysts have argued that African Americans are also being hit by the slow increase in their income, with the average wealth increase among African American families estimated to be only between $3,000 and $5,000 in more than 20 years. This factor, according to some economists, had made it more difficult for African Americans to sustain religious and educational institutions like churches and colleges.

With foreclosed properties being sold at real estate foreclosure auctions continuing to rise in most areas of Georgia, residents have reportedly tried to find other ways to pay their mortgages and provide for daily expenses. As for the congregation of the Flat Rock church, members are reportedly holding meetings in an elementary school building in the local area.

Housing industry analysts stated that the huge supplies of foreclosed and distressed homes for sale in Georgia is mirrored in most parts of the U.S. The problem of foreclosure is expected to last for another two years, with most analysts agreeing that recovery will not start until 2012.

Problem of Distressed Homes for Sale Spills Over Church Buildings is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

In contrast, the number of residential properties posted for foreclosure auctions in Georgia and subsequently repossessed by lenders shot up by 30.54 percent from the previous quarter to 13,607 units in the first quarter this year, accounting for 34.09 percent of all foreclosure actions filed during the quarter.

Similarly, in terms of unemployment rates, Metro Atlanta and the state of Georgia also headed to different directions in March. While the jobless rate in Atlanta improved, the unemployment rate in Georgia worsened. In March, Atlanta posted a 10.4-percent unemployment rate, marking a drop from its 10.7-percent jobless rate in February, based on data from the Georgia Labor Department.

The unemployment rate in Georgia, on the other hand, increased in March to 10.6 percent, up from the February rate of 10.5 percent. Over the past 30 months, the jobless rate in Georgia has been surpassing the nationwide unemployment rate. In March, the number of jobless workers in Georgia jumped up to 497,500 persons, an increase of 3,179 from the 494,321 count in February.

In contrast, a total of 9,900 Atlanta residents gained jobs in March, pushing up the number of employed persons in Greater Atlanta to 2,247,000 and helping cut down the number of properties entering Atlanta foreclosure auctions.

Additionally, the number of jobless workers in Atlanta who filed initial unemployment benefit claims also dropped year-over-year by 13.5 percent to 32,647, although the number marked a slight increase from the February figure.

Nevertheless, there is at least one sector both helping Atlanta and the state of Georgia – the manufacturing sector. Analysts at Kennesaw State University reported that orders, deliveries and jobs in the manufacturing sector have been rising throughout Georgia in the first four months of this year.

Not one of the manufacturing companies surveyed by the analysts were considering job layoffs and that one out of every five companies had gained increases in purchase orders during the four-month period.

Nationwide, there were also positive developments in March and April, such as increases in consumer spending and spikes in factory output. However, many economists still maintain a guarded outlook because of the weak employment situation and the possibility of stepped-up foreclosed homes auction activities.

All the same, despite the slowdown in Atlanta foreclosure auctions, there are still plenty of distressed properties for sale in the metro area.

Search home foreclosure auctions in Georgia cities:

• Home foreclosure auctions in Lawrenceville
• Home foreclosure auctions in Marietta
• Home foreclosure auctions in Lithonia
• Home foreclosure auctions in Savannah
• Home foreclosure auctions in Douglasville

As Economy Improves, Atlanta Foreclosure Auctions Slow Down is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

The lease-purchase scheme is increasingly being offered in foreclosure-clobbered states like Nevada and California, according to Emory University real estate professor Jim Grissett. He said both repossession property buyers and sellers can benefit from the rising popularity of the lease-purchase scheme.

Cecelia Robinson, a 57-year-old writer from an area near Baltimore, is among those benefiting from the lease-purchase program offered by Pride of Ownership Partners. Robinson said she left Maryland after her business failed and her house almost became a repossession property.

Now she is leasing a three-bedroom repossession property purchased and renovated by Pride of Ownership. Robinson can rent the house for three years, during which time she can decide whether to purchase the house. If she opts for a purchase, the firm will credit half of all the rent she has paid during the three-year period to help pay the down payment. The selling price would be based on the appraisal of the house during the time she signed the lease-purchase contract.

Robinson is ecstatic about the house she now considers her dream house and about the affordable terms Pride of Ownership has offered her.

Tim Cabrera and Jeffrey Britz launched Pride of Ownership Partners in July 2008 with only $1.4 million. But now they have a total of 50 units all bought from repossession property inventories across Atlanta. They said they housing market is still fragile, so they cannot simply buy and then quickly sell at a profit.

So they adopted the lease-purchase scheme to help their company break even and at the same time help people that deserved to be helped. So far, they have no problems renting out the homes.

Cabrera and Britz also educate their clients about mortgages, credit rehabilitation and home ownership. All applicants go through a strict screening process to ensure that they work only with smart and responsible renters or buyers.

Cabrera makes sure that renters and prospective buyers know everything about fixed-rate mortgages, upfront payments, monthly payments and other obligations.

Arlanda James is another renter helped by Pride of Ownership. Her family almost became homeless in December when the house they were renting suddenly became a repossession property. Now she is happily renting a four-bedroom house owned by Pride of Ownership.

Atlanta Firm Helps, Invests in Repossession Property is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.