DeKalb County Foreclosures for Sale

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DeKalb County is in Georgia Sate. The seat of the county is in Decatur City. The county is part of Atlanta-Sandy Springs-Marietta-Georgia metropolitan statistical area. Basically DeKalb is a suburban county – the second most prosperous in USA. It consists of an Afro-American majority population.

To understand DeKalb County foreclosures for sale one needs to know about the place and how it fits into the pan American scenario of the housing crisis. Till the 60’s DeKalb was dominated by agriculture but sine then Atlanta began to spread out and as a result the county became more and more urbanized. This led to a demand in housing. It was this boom that led to bust from 2007 and the increase in DeKalb County foreclosures for sale. Suddenly DeKalb County foreclosures for sale seemed to sprout everywhere as more people defaulted and lenders began to foreclose.

DeKalb County foreclosures for sale are causing problems for all – the lenders, borrowers, administration and the community. There have been so many DeKalb County foreclosures for sale that the lenders are unable to see to the maintenance of the vacant houses. These empty DeKalb County foreclosures for sale are causing problems by attracting crime and disease. The neighbours are worried. Unsafe localities are pressing down the real estate market. With no buyers the government is hard pressed with dwindling revenue. DeKalb County foreclosures for sale are causing resentment and anger that is disturbing the politicians.

A new law was passed that made it mandatory for assessors to take into account the number of foreclosures and other types of distressed properties. Revaluation notices were sent to residents of DeKalb. The county ignored the state law and the notice read, “Foreclosure sales are not considered fair market value sales and so these sales are not considered in our review. In some instances, bank sales can be considered. However, if there are fair market sales in an area, fair market value sales take precedence over the bank sales.” This stand by the county has led to a unique situation because elsewhere the assessors reduced the value of property by four times.

The housing crisis has caused the surfacing of various problems in a chain reaction with one action reacting on the other. This is allowing the politicians to toss the ball back and forth blaming each other and trying to get political mileage. Meanwhile the ordinary citizen sandwiched in between is lost and confused.

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