Sunday, June 13, 2010

State Of Georgia Foreclosures Opportunities For First-Time Buyers

By Peter Gibbins

What comes to mind when you think of Georgia? I think of a tall glass of sweet tea, a soft southern lilt, fuzzy peaches, and pecan pie. Georgia has several theme parks and great entertainment, but also has one of the highest rates of foreclosure in the country. Despite the beautiful scenery and southern hospitality, Georgia foreclosures are rising at an alarming rate.

The demand for homes in Georgia may have dampened the spirits of many willing buyers, due to an inaccessible property rates. But, with the advent and rise in foreclosures, today less affluent buyers can also find their dream homes, in this charming southern climate with golf courses, and ocean-side attractions.

There is a bounty of opportunity for house-hunters on the look-out for family homes at attainable prices or investment properties that will help them build their now possible real-estate empire.

These listings present a substantial amount of savings to a home buyer. This means a larger savings for those that know how to research and find deals up to half off of these homes. There are also a wide range of different types of homes available as well. The internet will yield lots of information on how to best find what you're looking for.

Purchasing these homes often comes with a slight hitch. The options are often dependent upon what has caused the hold to the title on the property. If the government holds the title then you may have to purchase the home through a bidding process, which may actually drive the price of the home up.

If you are looking at a property that is held by a bank, then you would have the chance to purchase the home directly through them. There are other foreclosures that you could purchase through an auction house as well.

A good source of information on foreclosed properties is the Foreclosure Data Bank. This sight is tailored to different states and customer needs and lists all the information about a house that a prospective buyer would want to know. This includes information on what process you would need to follow in order to purchase the property.

It's important to note that this market will not stay the same for long, of course. The foreclosures in Georgia have now taken center stage among home buyers. The more homes that are purchased after foreclosure will make the demand even higher, driving prices up. So if you're looking to buy inexpensively, the time is now.

In closing, if you are hunting far and wide for your dream home, look no further than Georgia. Georgia foreclosures will not be available forever and who would want to miss out on such a beautiful state? Remember to do your research and find the property that reflects you and your family the closest. Comparison shop and remember that the early bird gets the worm.

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