The Forsyth County real estate market was not as heavily hit by the foreclosure crisis as some areas of the country, so many in our area simply did not realize how bad it had been for homeowners in some states.
The good news is, it seems that we are hopefully coming out of the downturn of the national real market. A recent National Foreclosure Report produced by CoreLogic® shows that, in May, foreclosure inventory dropped by an amazing 24.5% percent and completed foreclosures declined by 6.9 percent compared with May 2015.
In addition, the CoreLogic® report shows that the number of mortgages in serious delinquency (90 days or more past due) declined by 21.6 percent year over year.
This is excellent news for Forsyth County real estate owners because it shows a trend toward an overall healthier national real estate market. This, for example, would allow a transferee from a previously hard-hit area to spend more money to buy your home if their current home sells at a higher price than it would have last year. It also helps many who had been trapped in an underwater situation be able to move on to another property.
I always love sharing positive economic news! If you have further questions are considering the sale or purchase of the home in our area, please fill free to reach out me directly.
I specialize in Real Estate sales in the following Forsyth County, North Fulton County and East Cobb cities: Cumming, Suwanee, Johns Creek, Alpharetta, Duluth, Milton, and Roswell. Other areas are serviced by request.