Stumble It!
Atlanta Market Ready to Bounce Back
The following is an excerpt from an article by By Paul Kaihla,
CNNMoney.com
This is of course a prediction, but based on solid data. I am just featuring the stats about Atlanta, but the other cities mentioned were: Dallas/FortWorth, Indianapolis, New Orleans, Montgomery, Memphis, Mobile, Austin, Houston, St. Louis. To read the rest of the article, click here.
Boding well for the local economy, "Hotlanta" boasts one of the highest rates of job growth in so-called creative-class occupations in the country. Why? It's the top destination in America for young professionals, a transportation hub (Atlanta's airport is the busiest in the world), and a place where most Fortune 500 companies maintain a regional presence. Projections by researchers at the U.S. Census Bureau and Virginia Tech place Atlanta at the center of a "megapolitan" cluster of urban sprawl that will develop over the next quarter-century, encompassing 7 million people.
This points to another niche real estate play: As buildable land around the city disappears, downtown neighborhoods on the brink of transformation are ripe for investment.
*Note from Real Estate Investor Girl. The Northwest suburbs of Atlanta are continuing to grow. In these areas housing is more affordable. Most of my investments are under $150,000 when purchased. If you would be interested in partnering on a SF real estate investment in the Atlanta area, send me a private email. Kathleen@realestateinvestorgirl.com, or click on the "email me" link on the left sidebar.
This is of course a prediction, but based on solid data. I am just featuring the stats about Atlanta, but the other cities mentioned were: Dallas/FortWorth, Indianapolis, New Orleans, Montgomery, Memphis, Mobile, Austin, Houston, St. Louis. To read the rest of the article, click here.
Atlanta
Projected median sales prices for single-family homes:
Q1 2008: $177,750
Q4 2009: $187,640
Growth: 5.6 percent
Half a million dollars probably won't buy you a home in one of
Atlanta's Martha Stewart-style neighborhoods. And that's a good thing,
argues Dan Forsman, CEO of Prudential Atlanta. Forsman says the smart
money here will move upmarket, in exactly the opposite direction of
where it will go in New Orleans. A contrarian by nature, he sees the
biggest arbitrage in properties priced at $750,000 in high-end
communities northeast of the city - suburbs like Druid Hills, Duluth,
Johns Creek, and Suwanee. The construction cost of a home in those
pockets is $260 a square foot; right now, you can pick one off for
$180. Boding well for the local economy, "Hotlanta" boasts one of the highest rates of job growth in so-called creative-class occupations in the country. Why? It's the top destination in America for young professionals, a transportation hub (Atlanta's airport is the busiest in the world), and a place where most Fortune 500 companies maintain a regional presence. Projections by researchers at the U.S. Census Bureau and Virginia Tech place Atlanta at the center of a "megapolitan" cluster of urban sprawl that will develop over the next quarter-century, encompassing 7 million people.
This points to another niche real estate play: As buildable land around the city disappears, downtown neighborhoods on the brink of transformation are ripe for investment.
*Note from Real Estate Investor Girl. The Northwest suburbs of Atlanta are continuing to grow. In these areas housing is more affordable. Most of my investments are under $150,000 when purchased. If you would be interested in partnering on a SF real estate investment in the Atlanta area, send me a private email. Kathleen@realestateinvestorgirl.com, or click on the "email me" link on the left sidebar.
We are seeing the rental leads pick up dramatically in the Atlanta area as well. We work with GaREIA on providing the investors a way to post their properties to many rental and for sale sites and with this we see a lot more people interested in moving to the atlanta area and buy or rent a home.
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