Once again foreclosures are on the rise which means home values will decline. Atlanta Broker Stacey Mollison predicts that the value of your home will drop significantly if you live near a foreclosed property.

"Right now especially in the Metro Atlanta area we'll see at least another ten to fifteen percent decrease in home values over the next six months," said Mollison.

Georgia ranks in the top ten nationally for having the most home foreclosures. It's one reason homeowners like Patrick Wooten haven't been able to sell their home. "Well I'd like to sell this house, but I can't put it on the market because of things like that until they're gone," said Wooten.

More than 200 foreclosed homes will be auctioned off in Atlanta this weekend and the only bright spot is for buyers. CBS Atlanta News found a home on Hosea Williams Drive that is on the auction block at a starting bid of $49,000. We also spotted a foreclosed home on Northcliffe Drive that was once valued at 1.2 million dollars and is now being auctioned off at a starting bid of $189,000.

"The prices are unbelievable. We have not seen prices this low. Buyers need to take advantage. I don't think buyers should wait," said Mollison

It's good news for buyers and bad news for sellers. However, Patrick Wooten is remaining optimistic. "It will recover it's going to come back. It could be as long as five years," said Wooten.

The auction will be held at the Georgia Convention Center this Saturday, September 12 and Sunday, September 13.