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Are Foreclosures Less of a Bargain These Days?

The ubiquitous foreclosure signs of deep-Recession yesteryear still dot many metro Atlanta neighborhoods, especially in decades-old suburban enclaves. But a report released this week by real estate gurus Zillow.com shows the yard signs might not be the harbingers of fire-sale bargains they used to be. And that, as the AJC points out, could be a good thing.

The median discount on foreclosures in October 2008 — the peak for bargain-hunters — was about 28 percent from market value. In September, that gap had narrowed to about 8 percent, both in the metro area and nationally, the report shows. An indicator of a slowly stabilizing economy? Some think so.
· Report: Foreclosure discounts narrowing in metro Atlanta [AJC]