Georgia foreclosures hit 6,000 in December

Georgia had 2,120 new foreclosed properties listed for sale in December 2004, according to data released today by online foreclosure listing service Foreclosure.com. This brought Georgia's total foreclosed properties available in December to 6,039.

Foreclosure.com reported 34,446 new foreclosed residential properties were listed for sale in the United States during December. The total number of U.S. residential foreclosure properties available for sale in December was 83,573. This inventory level marks the highest number of available properties in 2004.

"Based on current inventory, the time to invest in foreclosed properties is now," said Greg Sullivan, vice president and co-founder of Foreclosure.com. "A decline in delinquency rates and strong economic indicators in the second half of 2004 will likely result in a dip in new foreclosure inventory during 2005. But, December's inventory shows that the foreclosure investment opportunity is peaking. The rise in new foreclosure inventory in the past month will help keep foreclosure investment opportunities high for the first few months of 2005."