Dara PetersonSanta Barbara CA, 93117805-214-6968

Foreclosure Pricing in Fulton County GA (source: RealtyStore.com)

Median foreclosure prices are now significantly below the market home price in Fulton County, Georgia, according to the latest foreclosure listings review by RealtyStore.

Online PR News – 09-February-2011 –Santa Barbara, CA — The latest data on foreclosure listings in Fulton County, Georgia has been compiled by RealtyStore. Results revealed over half of the real estate foreclosures listed for sale in the Fulton County are priced below $75,000. Listings of bank foreclosures lead the market, representing 69% of all foreclosures currently listed for sale in the county. Although list prices of bank foreclosures can exceed $1 million in the area, the median price of these listings is currently just $78,950, or 61% below the market median home price for Fulton County, according to RealtyStore.

Looking further at REO foreclosure ownership, government owned property is priced lower. The median price of foreclosed houses listed by Fannie Mae / Freddie Mac is $69,900. HUD homes are priced substantially lower, at a $43,000 median price, including opening bid amounts. Considering all list prices for banks and the government sponsored enterprises (GSE’s), foreclosure listings in Fulton County show a median price of just $72,900, or 64% below the market median price of $199,900.

“Using median prices as a guide, both bank and government owners of foreclosures appear to be motivated sellers in Fulton County,” said Peter Ranck, Vice President of RealtyStore. “Recent RealtyStore reviews of other foreclosure markets have not seen as dramatic a price differentiation as we see in Fulton County. For instance, in Harris County, Texas the median price differential between foreclosure listings and the overall market was 42% and in Hillsborough County, Florida we saw 52%. Foreclosure pricing levels in Fulton County beats these markets handily.”

Foreclosures currently represent 9% of all homes listed for sale in Fulton County. This relatively lower level of market saturation may help maintain a higher overall market price, because foreclosures are not weighing on the Fulton market as much as they are in other counties across the country.

Regardless of market saturation levels, foreclosure price points in Fulton County offer a very wide range of home purchase options. Single family homes for sale by Fannie Mae / Freddie Mac start at $9,999 and top out at $479,900. HUD homes offer opening bids at $8,200 and list prices up to $260,000. Bank foreclosure listings are priced from $4,900 for a 3 bedroom / 2 bathroom ranch house with a basement in Atlanta, up to $1,999,900 for a completed but never lived-in, foreclosed custom home in Alpharetta with 7 bedrooms, 9 baths, elevator and internal apartment suite in 6,760 square feet.

Definitions:

REO is an acronym for Real Estate Owned. Real estate foreclosed with title held by a bank or other lender, or a government enterprise (GSE) including the VA, HUD or Fannie Mae / Freddie Mac.

Foreclosure listing is an REO with an active for-sale price listed.

Median price is the list price where one-half of listed homes are priced higher and one-half are priced lower.

Foreclosure data analysis notes:
RealtyStore Reviews and Foreclosure Trends studies provide the total number of REO foreclosure properties with a recording date on or before the date of this release. REO properties have completed the foreclosure process and have been repossessed by a bank, lending institution or government sponsored loan guarantor such as Fannie Mae, Freddie Mac, HUD or the VA. REO title holders, inventory counts and prices in any area can vary at any time. REO counts and prices are accessed through RealtyStore’s proprietary database which is derived through hundreds of public and private data providers. Local housing market data is derived from third party and public records offices.

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About RealtyStore
RealtyStore (www.realtystore.com), a division of Nations Info Corporation, is the leading provider of foreclosure listings and discount property data nationwide. RealtyStore’s mission is to empower its customers with the tools, education and analysis required to identify and potentially maximize profits with undervalued real estate. Collected from hundreds of public and private sources, RealtyStore’s proprietary database includes over 1 million listings including pre foreclosures, foreclosures, short sales, tax defaults and rent to own or owner financed listings. As the foreclosure listings industry leader, RealtyStore.com is the most visited foreclosure website, averaging over 1.1 million unique visitors per month in Q3, 2010. Realtystore.com is the only specialized foreclosures website to rank in the Hitwise Top 20 Internet Usage Report for the Real Estate Category (October 2010)