| Georgia Bank Owned Real Estate Foreclosures - Buy Bank Owned Homes - REO Property |
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| Bank owned homes in Georgia, foreclosures,
bank auctions, and REO Real Estate Owned. The "correction" in the national
real estate market been felt especially hard in Georgia. Colorado, Nevada
and Georgia were the leading states in the number of mortgage foreclosures
in a recent study. This has resulted in many Georgia properties in the
hands of the backs and mortgage lenders through foreclosure.
As the Georgia Department of Economic Development notes, "When you visit Georgia, it’s easy to see why so many choose to stay. With a comfortable climate, high quality of living, thriving business community and the rich culture that this state was founded upon, living in Georgia is easy and rewarding". It would be that much easier and rewarding if you were able to locate and purchase your new Georgia home directly from a motivated seller, and the sell was a bank. Atlanta, Augusta, Columbus, Savannah, Athens, Macon, Roswell, Albany, and Marietta are among the most populated cities in Georgia to find a bank owned property. In the first three months of 2006, existing-home sales in Georgia increased 7.7% from the year before and were boosted by Atlanta-area sales. The median value of Georgia homes (Where 50% sold higher, and 50% lower) was $86,000. The median priced vacant home in Georgia was about $78,000. These prices are below the national average home price. If you can purchase a bank owned property in Georgia at below market rates, you could find yourself in a very nice foreclosed home at a great price.
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