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Real Estate Now: Foreclosures

In light of the city of Lilburn considering a foreclosure registry, we are dedicating this real estate column to foreclosures in the area.

There are an estimated 4,500 homes in Lilburn, and a number of them are foreclosed properties.

According to data from RealtyTrac, Lilburn sits behind Lawrenceville, Snellville, Norcross and Buford, in that order, when it comes to foreclosures.

However, the city is located in a county with the highest foreclosures rates of any county in the state. In July, the date for which most recent information is available from RealtyTrac, the state saw 1 in 201 homes in foreclosure.

Lilburn was 1 in 214 homes.

Often it means that buyers can select many homes at random to buy for extremely reduced prices. However, those reduced prices can spell problems for home owners in the area.

Not only can a foreclosure reduce selling prices of surrounding homes, but also it can create an empty home whose owners -- the bank -- do not keep the homes up.

So, if you're considering moving, consider these foreclosure listings below. One less foreclosed property on the rolls is one more step toward a stabilized economy.

Featured Foreclosure Listings:

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