Costigan Real Estate Group REO & Bank Owned Properties
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2nd Atlanta Foreclosure Wave Coming

A HUGE 2nd wave of foreclosure properties is apparently ready to crash down on Atlanta , GA. The "When" is the only thing in question, but it is certain to come very soon. So for all of you Atlanta investors who have been waiting for just the right time to jump in and buy, well now is the time to get your money together because with all the pent up anticipation, the great deals on bank-owned properties are certain to fly off the shelves FAST when this wave of REO houses hits.

I recently attended a private meeting here in Georgia with a very large national bank along with a small room full of my colleagues, who are the "inner circle" of the REO business here in Atlanta. For many months, my fellow brokers and I have been wondering just "where" all of these "shadow" foreclosures had dissapeared to and we had an opportunity to listen to the "take" that the VP of this bank had about this subject. His explanation was that there are such a vast amount of homes in default that the banks are simply and completely underwater with title research and that the big jam of properties was about to bust open and hit the market here in Atlanta in the next couple of months. In fact, he actually had anticipated that this new abundance of foreclosures would be released in Atlanta in October, however, the jam up apparently was too great to allow that to happen. Many of us had been specualting that the slow "drip" of foreclusres that we had been experiencing over the last several months was simply a means of banks controlling inventory levels and driving prices up by limiting supply, but this foreclosure insider seemed to dispell any such notions.

Many people seem to harbor false hopes that this landslide of foreclosires has somehow halted and that the housing market is leveling out. DON'T BELIEVE THIS. When you consider the most telling factors, such as rising unemployment ( currently at almost 11% here in GA ) it is easy to see that foreclosures must follow. It's pretty simple: no income=no house payment=foreclosure. So hold on to your hats and get your foreclosure financing ready Atlanta home buyers. It is coming! According to this VP, his intstituion alone is anticipating the realease fo more than three (3) times the number of foreclosures in the Atlanta market than they have released over the last twelve months.

If you want to get a behind the curtains look at the foreclosures that my firm personally has in inventory that have not yet been listed for the general public to see, you can visit right now and get on our VIP list. This way, you'll beat out other buyers to the the best bank owned foreclosure ( REO ) homes before they even know about them and you'll SAVE thousands of dollars.