Temple center among foreclosures

By SARAH FAY CAMPBELL
sarah@newnan.com
The grocery-anchored shopping center on Temple Avenue is among April’s foreclosure legal advertisements.
It is one of 162 foreclosure-related advertisements in today’s edition of The Newnan Times-Herald. All properties are set to be sold on the steps of the Coweta Justice Center on May 1.
According to the listing, the foreclosure is related to a promissory note granted to Wachovia Bank on March 7, 2011, in the amount of $1,659,227. The owner is K.L. Enterprises Investment, L.P.
Also listed are three acres owned by Fischer Crossings Development Corp., and the strip center located at the intersection of Georgia Highway 34 East and Ruth Drive.

The Fischer Crossings property being foreclosed upon is on the same main tract as the Sam’s Club at Georgia Highways 34 and 54, but does not include the Sam’s Club property, or an additional half-acre tract on the parent tract.

According to the advertisement, the foreclosure is being done to secure a “balloon promissory note” dated April 19, 2011, in the amount of $1,832,143.

The Highway 34/ Ruth Drive shopping center is owned by Carlos Vargas, and the foreclosure is to secure a promissory note of $1.17 million.

Also included in the listings are two commercial properties that had been previously listed.

Springhill Suites, at 1119 Bullsboro Drive, was listed in February and March.

Property owned by Diplomat LLC, located behind Lowe’s between Bullsboro Drive and Lower Fayetteville Road and previously intended as a large shopping complex, was also listed in March.

Most of the remaining 162 foreclosures are single-family homes.

This month’s foreclosure total is down slightly from March 2012, when there were 164 listings, and it is up slightly from April 2011, when there were 159 listings.

MONTH-BY-MONTH LOOK AT LOCAL FORECLOSURES
• May 2011 — 183 (down from 198 in 2010, or -7.5 percent).
• June 2011 — 166 (down from 236 in 2010, or -29.6 percent).
• July 2011 — 153 (down from 178 in 2010, or -14 percent).
• Aug. 2011 — 211 (down from 253 in 2010, or -16.6 percent).
• Sept. 2011 — 120 (down from 199 in 2010, or -39 percent).
• Oct. 2011 — 154 (down from 237 in 2010, or -35 percent).
• Nov. 2011 — 242 (down from 307 in 2010, or -21 percent).
• Dec. 2011 — 155 (down from 199 in 2010, or -22 percent).
• Jan. 2012 — 199 (down from 217 in 2011, or -8.3 percent).
• Feb. 2012 — 165 (down from 227 in 2011, or -27 percent).
• March 2012 —164 (down from 235 in 2011, or -30 percent).
• April 2012 — 162 (up from 159 in 2011, or 1.8 percent).


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