Almost by definition, Talega is the poster child of the subprime crisis.  Homes were just reaching completion and being offered for sale at the same time subprime lending practices were taking off.  Large percentages of these homes were purchased with little or no money down at attractive, but unsustainable interest rates.  As loans adjusted upward, many borrowers could no longer afford their payments.  As defaults mounted, home prices began spiraling downward.  Once the housing bubble burst in earnest, borrowers increasingly defaulted on loans that lenders would later force into foreclosure.  In the past twelve months, 71 out of Talega’s 191 (37%) home sales were in the process of being foreclosed upon.  This increased to 46% in the most recent three months with 26 out of 56 homes sold being in some phase of foreclosure.  Finally, 53% of homes in the most recent month were in the category with 20 out of a total of 38 home sales.

Buyers

Now is an opportune time to buy in Talega.  If you are interested in finding a beautiful home, you need to work with experienced agents who know how to navigate successfully through these complex transactions.

Sellers

If you have found yourself as a victim of subprime lending practices, engage our services immediately.  This is a problem that requires experienced and dedicated assistance.

To view available foreclosure properties in Talega, please visit our Talega Foreclosure Properties page.