Atlanta Foreclosure Auction
April 2, 2008 – 7:39 pm
Atlanta Foreclosure AuctionOriginally uploaded by The Hendriks Group
Well, it sure wasn’t an April Fools Prank yesterday at the Atlanta Foreclosure auction. The first Tuesday of every month, the Atlanta foreclosure auction is held on the front steps of the municipal courthouse, in Fulton County’s case there were over 2200 homes that were foreclosed on, within Fulton County and a good portion of the city of Atlanta.
This Auction had one of the lowest turnout I have seen for a foreclosure auction. The smart buyers know that this vehicle is not the best way to get the best prices on real estate at the moment.
I have developed a strategy to purchase homes for $.30 to $.40 on the dollar. It has helped many investors stay afloat during this transitional market. For a consumer, who is willing to rehabilitate a house, there are some phenomenal deals that the average buyer will feel overjoyed for purchasing. For an Investor, who plans on rehabilitating a house to then sell it to the end user, deals are a lot harder to come buy, hence the reason for such a poor turnout. Investors have to use more creative ways of procuring properties in Atlanta if they plan on selling them back into the market.
