Foreclosure houses in Atlanta and distressed properties all over the state remained a highly-favored option for a big number of homebuyers last year. According to full-year housing reports, a total of 27,657 foreclosed residential properties were sold in the state in 2010. When compared with 2009 levels, the total actually represented a drop of over 41%. Compared with 2008 figures, the decline was a little over 36%. For 2010, 29.4% of all houses sold in Georgia were distressed or foreclosed.

The average selling price of Georgia foreclosure homes last year was pegged at around $119,940. Despite the decline in foreclosed property sales, Georgia still ranked fifth in 2010 among the 50 U.S. states in terms of areas with the highest percentage of foreclosed properties accounting for total housing units sold. Georgia was topped by four other states; Arizona, California, Florida and Michigan, with all four having a foreclosed property sales of over 30%.

Nationwide, a huge percentage of total housing units sold in 2010 were accounted for by low-priced properties, such as bankruptcy homes and foreclosed houses. Full year figure showed that more than 831,500 foreclosed residential units were purchased by buyers in 2010 all over the U.S. The total means that 26% of all houses sold last year in the country were distressed or foreclosed. The good news is that the percentage has declined from 2009 levels.

Compared with 2009, the amount of foreclosure properties that accounted for total housing sales declined by 31%. When compared with 2008 levels, the drop was almost 14%. The average selling rate for foreclosed dwellings sold last year in the country was a little over $172,000. According to housing industry analysts, despite the decline, the percentage is still massive. They attributed the high foreclosed property sales on weak housing demand and the oversupply of distressed homes in the whole country.

For 2011, majority of market analysts are predicting that low-priced properties like foreclosed dwellings and bankruptcy homes will continue to account for a large part of housing sales. They also expect the surplus to expand further this year as 2011 has been declared by housing experts as the peak of the housing industry crisis.

On the other hand, analysts stated that the foreclosed homes for sale in Seattle offer great opportunities to buyers that they might not encounter ever again. The heavy discounts can provide homebuyers with a chance to acquire homes that they probably never thought they can ever afford. One example is a Federal Way house with an indoor hot tub and an original price of $535,000. This property will be offered at the auction starting at $99,000.

The auction will feature 80 Washington foreclosure homes and will be held at the downtown Seattle Westin Hotel. Most of the properties are reportedly located in Puget Sound, with several fixer uppers from South Seattle and White Center. These fixer uppers reportedly have a starting price of $9,000.

Meanwhile, the upper end properties on offer also include a Queen Anne Hill property that had an initial value of $1.2 million. At the auction, the house will be offered for a starting bid of $279,000. According to local realtors, anyone who sees these foreclosed and bankrupt homes for sale will be able to tell that such opportunities will not come often.

They stated that buyers with the means to make a bid, but have decided to pass on this one, will likely regret not taking advantage of these home foreclosures for sale in a few years time. Realtors stated that housing prices in Washington have declined considerably since the start of the foreclosure crisis. They reported that values of homes have fallen by around 20% since 2005 in King County, for example.

However, realtors also cautioned those who will be bidding for the foreclosed and bankrupt homes for sale to take note that these properties are being offered as-is. They added that buyers should still conduct their own research.

With the increase in foreclosures, homebuyers are getting property at very cheap rates. Banks are selling the properties at discounted rates so that they can dispose them as quickly as possible. Therefore, they are offering discounts of up to 50 percent on the houses. Homebuyers are getting property that they would never have got when the housing market was still thriving. The low prices have attracted many novice and experienced real estate investors.

Investors are buying the properties with an intention of rehabilitating them and then putting them up for sale in the market again when prices will have risen. The investors stand to gain over 100 percent profits. For those who have no intention of reselling the houses, they can lease them out. Such investors can then use the rent they receive from tenants to pay for their mortgages. After clearing their mortgages, they will then enjoy full profits from the houses.

The rise in the number of homebuyers who are interested in foreclosure homes for sale is proof that these houses are profitable to buy. The properties are sold at cheap rates and you can get the house you've always wanted. If you want to save but still get property that you will be proud of, then foreclosure houses for sale are the ones you should be looking for. These houses are available all over the country and you can get them at auctions or by speaking to the bank directly.

Bankruptcy homes for sale offer individuals a chance to own property at a discounted rate. The properties are a sure way of getting your own house without spending a fortune.