Foreclosures Down in Johns Creek

Community development department presented report to city council stating that residential foreclosures have decreased slightly since 2010.

There are 59 less residential foreclosures in Johns Creek than in 2010, said the city's Community Development Department in a presentation to the City Council on Monday.

That number follows a national trend of decreasing foreclosure activity during the last two years, the report states. In February 2010, 394 homes in Johns Creek were in foreclosure, while there were 335 homes the same time this year.

According to data compiled from RealtyTrac, Realtor.com, Fannie Mae and FMLS, 38 homes on this year's list were also on the 2010 list.

In Johns Creek, the foreclosure rate this year is 1.21 percent (1.8 percent in 2010), while the national rate is 1.45 percent. At the end of the year, the state's rate was 2.71 percent (fourth highest in nation among states), while the Atlanta metro area's rate was 3.69 percent (12th highest in nation among metro areas.)

"None of the homes (in Johns Creek) are in blighted condition," said the Community Development Department's Susan Canon. 

Mayor Mike Bodker pointed out that there are some homes in the city whose conditions had presented problems and violations, but Canon responded that none of those homes were on this list – they might be bank-owned, but not in foreclosure.

When Councilmember Bev Miller asked what the city could do about those troublesome properties, City Manager John Kachmar responded that the city stays on top of the owners by issuing citations, and that in a lot of cases the neighborhood HOA takes care of it. He added that this handful of homes wasn't a huge problem per capita.

Kachmar said he finds more worrisome in the longterm the valuable homes in the city that have never been occupied.

See the attached PDF for a map of the city outlining foreclosures in 2010 and 2012.

johnleonz March 28, 2012 at 09:36 AM
Yes. Rates this week were 3.12% reported at the "Official Refinance". The lowest they’ve been in 40 years. A homeowner could refinance or purchase a home at a 30-year fixed rate of 3.12%. That is amazing!


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