Real Estate Scams are on the Rise in Georgia
Thursday, September 19th, 2024
Georgia’s real estate market is getting high marks in the most undesirable categories. It’s ranked as the 13th worst state to buy a starter home, according to Construction Coverage. In addition to this affordability crisis, the state is also a hotbed for real estate fraud. According to a study from law firm Anidjar & Levine, potential homebuyers lost more than $4 million to real estate fraud in 2023, the 10th highest total nationwide.
A report by Forbes Advisor found 437 fraud reports for every 100,000 residents in Georgia during the first quarter of 2023. The FBI’s internet Crime Complaint Center received a record-high 880,418 complaints, with reported losses surpassing $12.5 billion nationwide. This marks an alarming 10% increase in complaints and a 22% surge in losses compared with 2022.
Read more at the Atlanta Journal-Constitution.