Agency looks at new house foreclosures - Atlanta Business Chronicle:

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he said. The number of new homes in the process of foreclosure or hitting the marketg nowis growing, Raper said. Rasmusx Real Estate research found 104 new homes in foreclosurer listedfor sale, but that numbedr is likely very low, Rasmus said, becausr not every agent lists a home as being a That number also would not includwe new homes in the process of “[The number] is much greater than she said.
Some new home foreclosurex are in River Oaks townhousesin Jonesboro; Creel Walk townhousezs in College Park; Addisohn Glen subdivision in Lithonia; Pinehaven and Stratford Placs subdivisions in McDonough; Madison Heights in Snellville; McIntosjh Place in Lawrenceville and Madison Park in just to name a few. And they are in all pricee points. Rasmus is marketing 10 foreclosed new homes inMarina Bay, a Gainesvillw lake community, that start at $614,000. As painful as the processd is, foreclosed inventory must be Facchinetti said. “From a long-term standpoint, we need to go througnh that process,” he said. “Lenders and builders need to get througgh theinventory supply.
Lenders owning the housesx doesn’t decrease the inventory.” It just meanx the bank, rather than the is now the seller, Facchinetti