From the Atlanta Business Chronicle.

"The Peach State had 11,274 foreclosure filings -- default notices, scheduled foreclosure auctions and bank repossessions -- last month. This was down 13.1 percent from December 2009, but was 13.8 percent higher than January 2009. The state ranked 10th for foreclosures".

The report also says that 1 out of every 357 houses in Georgia got a foreclosure notice in January. This is in line with national numbers that have a decrease from December, but a year over year increase. Nationally, 1 in 409 homes received a foreclosure notice so we are performing worse than the total market. More from ABC:

“January foreclosure numbers are exhibiting a pattern very similar to a year ago -- a double-digit percentage jump in December…

Sold to the lady in the back for $435,000! What a deal! The screen says the previous value for this home was over $1,000,000. I've found it at last! Now I know exactly where to send every person who calls looking for that great deal. The auction!

If you're in the business and you get leads online, you definitely know the guy. Most others in the business know this guy now too. It's just a product of the current conditions. He acts like he knows more than you about real estate and before the phone call is over, he has made you feel like it's true. We get one almost daily, but the problem is, that guy doesn't have a clue about what he is talking about. If you are that guy, I suggest you re-read this paragraph.

I attended an auction this past Saturday with…

A few months back I wrote a few posts about some excellent foreclosure deals in Roswell and Alpharetta. One is a foreclosure in Glen Abbey, one is a great investment property in Berkshire Manor and another is a large home with a pool in Brookfield Country Club. The purpose of all three of these posts was really twofold:

1. They were good deals.

2. There is a terrible misconception on the part of the buying public (many of which are regular buyers who believe this is a good time to "invest") in understanding how to ascertain value and/or an offer price on properties such as these which is truly unfortunate because there really are so many great deals.

I figured if I went through a few examples, we might help set some buyers get straight on the process.…

This is one of those foreclosures where the bank finally has priced it right to sell. It's most recent sale was in April of 2007 for $575,000 and it's now on the market for $436,900. It's also about $80,000 below the least expensive home that sold in Glen Abbey in 2008 and over $250,000 below the most expensive sale in 2008. If you have looked at homes in Glen Abbey in the past, you would probably have a good feel for what type of floorplan it has as well as the condition of the interior. Honestly, at this price, I was expecting it to be in far worse condition than it is and I was definitely not expecting to see a basement finished out this well. At this price it's going to be a real bargain and put a new homeowner in a pretty solid equity position rather…