Georgia State is in southeastern part of USA. It is hemmed in by Florida, the Atlantic Ocean, Tennessee as well as North Carolina and South Carolina. Parts of the vast Appalachian Mountains run through the north part of the state. Rivers from the upper reaches cascade down to the coastal plains. With Georgia foreclosure homes hitting the headlines this is the opportune time for nest builders to snap up easy deals in this paradise. With Georgia foreclosure homes dominating the scenery there are many units to pick and choose from at affordable prices. There are others who would like to invest for the future by snapping up the best Georgia foreclosure homes. There are many Georgia foreclosure homes in jumbo cities like Atlanta, Columbus, Albany and others.
The question arises why are there so many Georgia foreclosure homes in a state that is the 9th most populous and is one of the fastest growing in USA? Perhaps it is so because of its very prosperity. More than half the people of Georgia stay in Atlanta metro region and consequently here one will find the maximum number of Georgia foreclosure homes. Among the 100 fastest growing counties, 19 were from Georgia during 2004 to 2005. During the first quarter of 2008 the number of Georgia foreclosure homes made the state rank 6th in the national foreclosure race. There were 28,503 Georgia foreclosure homes. This figure of Georgia foreclosure homes broadly includes default and auction notices as well as bank repossessions. This shows a 79.9% jump over the first quarter of 2007, in 2008. Georgia foreclosure homes increased by 22.5% over the last quarter – that is the quarter running from October to December 2007.
In the Atlanta metro area including Sandy Springs and Marietta there were 22,554 Georgia foreclosure homes in the first quarter of the current year. These numbers made it rank 16th among the important metro zones. The foreclosures of this area had increased by 68.7% from the first quarter of the previous year and 13.7% from the last quarter of 2007. According to RealtyTrac the ratio of Georgia foreclosure homes during the first quarter was 1:91.
Georgia continues to rank second in the country as regards personal bankruptcies. In the state there were 12,981 consumer suit filings during the first three months – it being a jump of 16% over the previous year’s first quarter. Only Tennessee ranked ahead of Georgia. These two states led the bankruptcy race also in 2007.