Wednesday, May 25, 2011

Colorado and Georgia Lead Highest U.S. Foreclosure Listings Increase

/PRNewswire/ -- ForeclosureDataOnline.com reports that Colorado and Georgia had the highest increase in foreclosure listings, considered the most in the United States from April to May of 2011, reflecting more accurate statistics and reasons challenging the overall appearance of a downward trend over the previous year.

Colorado foreclosed homes were 6,825 in March and 7,277 listings in April, a 6.62% increase.

Georgia had a bit more at 3,575 foreclosure listings in March and 3,828 listings in April, a 7.08% increase.

Only Georgia, Colorado, New Jersey, Wyoming, Alabama, and Alaska had increases from March to April 2011. Experts suggest that the slight rise in the preceding month has to do with the continuous flow of foreclosures that have been stuck in limbo while courts and lenders wade through the many filings to ensure that all paperwork was correctly and accurately completed. Last year's scrutiny of so-called "robo-signing" of documents by inexperienced personnel hired to help process the many loans in default or in modification, temporarily slowed the process.

As more foreclosure paperwork continues to be processed, more of these homes will appear on the market. In Colorado, the consensus is that the tourism industry has been affected by the lack of spendable income and that has affected jobs in the mountain state. In Georgia, jobs were added in several industry sectors for the second straight month. Yet data reveals a slight relief of the immense backlog of foreclosure listings that have been held up for months by the tight scrutiny of the foreclosure processes that have slowed the process in previous months, and now shows the increase in listings.

Completing the information, ForeclosureDataOnline.com also calculated the percentage of Colorado and Georgia foreclosed homes of the top cities of these states:

COLORADO
Denver: -1.0%
Aurora: +5.4%
Arvada: +7.0%
Colorado Springs: +7.7%
Brighton: +10.4%

GEORGIA
Atlanta: +28.9%
Lawrenceville: +5.4%
Marietta: +23.6%
Douglasville: +129.3%
Savannah: -5.6%

High unemployment, a soft real estate market, and underwater borrowers--all key factors that create foreclosures--are contributing to the long duration of the housing and financial crisis.

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Thursday, May 19, 2011

Albert Burney Auction Company Manages Bank Ordered Auction of Savannah River Preserve

(BUSINESS WIRE)--The Savannah River Preserve is comprised of 1,217± acres of land with almost 250 riverfront acres in Sylvania, GA. The property includes 180± acres of bird and deer food plots and provides an ideal location for hunting and other outdoor recreation. Savannah River Preserve will be selling in three tracts or as an entirety.

Parcel one of Savannah River Preserve is 524.22± acres and includes a 2,533± sq. ft. main lodge with a kitchen, meeting room, game room and a master suite. Additional lodging includes four one-bedroom, one-bathroom cabins, each with its own kitchenette. This parcel also includes an assortment of outbuildings and recreational fields.

“It’s a sportsman’s dream,” said Warren A. Ward, President of Albert Burney, Inc. “It is one of the most inclusive recreational properties we have offered - from world class wing shooting, deer and turkey hunting to fishing. From sporting clay range to indoor archery, this property has it all. It is a world-class hunting preserve and it’s located just minutes from Savannah.”

Parcel two includes 444± acres of ideal hunting property in the Georgia woods. Parcel three includes 248.49± acres of river front property ideal for fishing; this parcel will be sold regardless of price.

This bank ordered auction will take place on June 18th at the Savannah River Preserve Lodge. Registration begins at 9:00 a.m. with the auction following at 10:00 a.m.

Albert Burney representatives will be available to answer questions and offer site inspections two weeks prior to auction dates and continuing through auction day. Individuals seeking additional information may call (800) 434-1654 or visit www.albertburney.com.

Albert Burney Auction Company, headquartered in Huntsville, Ala., is one of the nation’s leading auction companies specializing in land, home sites, homes and other high end real estate.

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