Georgia Foreclosure Homes and the Erosion Problem

Next to the US economy, it seems that the foreclosure crisis is targeting the environment. In Georgia, particularly, there is a rising number of problematic foreclosed homes that come with erosion problems. Because of the housing downturn, many subdivisions and real estate developers have been forced to abandon projects that are still not completed. Specifically affected are those properties located in steep terrain. Problems occur when developers grade and clear a property, but tend to abandon the project long before construction is completely done. Erosion becomes a main problem as the soil is made ready for pavements.

The problem serves as an existing setback for Georgia foreclosure homes. In fact, the state’s Environmental Protection Division is now actively monitoring property development projects so that abandonment and resulting erosion problems will be prevented. EPD is now aiming to make several property developers responsible and liable for any erosion problems caused. Banks and mortgage lenders, which hold repossessed and foreclosed homes, can now rest assured that Georgia foreclosure homes under their portfolio can openly be sold and auctioned to prospective buyers, who would not be shunned away by erosion and incomplete development setbacks.

For quite some time, the state has always had a high rate of foreclosed homes. Information released by real estate tracker RealtyTrac indicate that Georgia foreclosure homes fell 12.8% in October 2008 to 9,900 homes compared to year-ago foreclosure data. That means there is a home under foreclosure in every 391 households. That is higher than the national average of a home under foreclosure for every 452 households. However, the decline is not yet affecting the volume of available Georgia foreclosure homes. There are still enough of them, and the number is expected to adequately provide more homes for sale in the coming months.

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Joseph Smith has been educating buyers on the finer points of Georgia foreclosure homes purchase at Georgia-ForeclosureHomes.com for over four years. Click here to visit and read more advice on finding www.georgia-foreclosurehomes.com/listing/county121/atlanta.html" target="_blank">Atlanta foreclosure homes and foreclosures in other Georgia cities.

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