Foreclosure notices in metro Atlanta are at levels not seen since 2002.
There were 18,672 foreclosure notices in 13 metro counties through August. During 2002, when the housing boom was healthy, there were 18,654 foreclosure ads during the same period.
In 2009 when the housing crisis peaked, there were 18,499 foreclosure notices during the first two months of the year.
That return to normal is good news, but home values fell so far during the Great Recession at many have not recovered, with about one out of three houses being underwater, that is, the house holder owes more on the mortgage than the property is worth. Home prices vary and have regained values unevenly across the 13 counties. Upscale, intown neighborhoods have generally regained value faster than poor neighborhoods or those further out.
August notices are for auctions on county courthouse steps that would take place next month. Many foreclosure notices do not get that far, however. Lenders sometimes negotiate with homeowners and foreclosure proceedings can get postponed or withdrawn.
Since the housing bubble burst in 2006 and 2007, an estimated 5 million Americans have lost their home to foreclosure.
August foreclosure notices by county are: Bartow, 63; Cherokee, 81; Clayton, 214; Cobb, 273; DeKalb, 418; Douglas, 114; Fayette, 29; Forsyth, 55; Fulton, 421; Gwinnett, 413; Hall, 59; Henry, 155; Rockdale, 55.
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