Article

As the real estate market is witnessing a downslide in U.S., a large number of people are moving out of the rental market and buying their own homes. Those couldn't afford to buy a condo or a detached house some years ago are coming out of the woodworks to buy foreclosed condos.

In fact, except for some expensive areas the prices of condos all over America have almost bottomed out. Experts say that they may fall further. However, a lot of it is also speculation.

Condos that were going for a lot of money have dropped down their price by 40%. Despite the HOA and Mello Roos, it is still a great time to invest. All you need is a cash for downpayment and a decent credit rating.

FHA loans may ask for a mortgage insurance, however they are more than willing to give loans for a mere 3% down. Even conventional loans by banks require a mortgage insurance for foreclosed condos or a single detached home.

Atlanta is one of the fastest growing condominium market and Atlanta condo buyers are rising in numbers day after day. Condominium is also a form of ownership of real estate. The owner has individual title to the air space inside the unit plus an undivided interest in the buildings and land in this type of ownership.
Condominium ownership is guided by a set of declarations that are written at the time of creation of the development. The details of how the condo will be governed and maintained are all outlined in these declarations. The buyer should go through this document thoroughly and if they are not satisfied with the terms they may decline the contract without penalty.
Condos in Atlanta are located in well established and proven neighborhoods. But still it is important to check the neighborhood, the facilities, the monthly HOA  and so on before you decide to buy. When you buy a condo try to do a complete survey of  how far it is from the nearest freeway, schools, shopping and hospitals are located. You dont want to go  too   remote in a gated community especially if you are planning a long commute to work. 
Owing a condo in a building makes you a member of the Homeowners Association.(HOA) The Homeowners Association provides for the maintenance of the common areas and the structure itself. This would include open spaces, pools, roofs, staircases, balconies, etc. Before buying a condo in Atlanta or anywhere else, make sure that you are well aware of what you own and what the Homeowners Association owns. Make sure that you have insurance on the complete structure. Many condo documents are drafted to shift the risk to the individual unit owner and not the association.
If you are buying the condo on loan, then you have to take care of the documentation. Sometimes there are some problems with getting mortgage loans on Atlanta condos.
A few lenders feel that there is greater economic risk associated with condos because there have been times in the past when condos have depreciated in value faster than single-family homes.
For more comprehensive information try goarticles.com. It has some good tips and advice for real estate investors.