Foreclosures constant, prices down

The median list price of all foreclosures is $66,000, a decline of 16 percent since January, when the median price was $78,950, according to Peter Ranck, vice president of RealtyStore. Homes are selling for half or even one-fourth of their value, Johnson said, adding that she's seen some Real Estate owned homes go for as low as $7,000 in neighborhoods where average value is between $70,000 and $80,000. Homes for Sale by owner or a realty company are selling, but for less than they're worth. Those homeowners are winding up in foreclosure, and the cycle continues, she said. There are rental homes for people that cant afford to buy one. We do not need anymore hand-outs to these people, if you cant save for the down payment you will need to rent. More StoriesChillin' at campPorterdale at odds over closed sessionOxford to vote on millage rate, compensation increaseLocal rangers assist with South Ga. Homes for Sale