I was wondering if anyone is familiar with the Atlanta metro area real estate market. I am surprised to see good economical and demografic growth, low unemployment rates, and still, the real estate market is barely growing around 5% per year. I am about to buy a house for 120k that sold new in 1988 for 103k ?!!
I guess my question is if anyone anticipates any changes in the near future.
Near future like 6 months no! Future like 5-10 years yes!
I think Alanta will be in the top 5 for appreation! Over the next 5-10 years as a matter in fact I am going there to buy rentals myself!
Curious as to what areas specifically you are looking to buy rentals in, in atlanta? I took a weekend trip a few weeks ago and plan to go back to look at more re in a few weeks. I also think that there is a huge change happening in atlanta and we will see it grow over the long-term.
Atlanta is still in the development stage as at now. The market here has not yet been saturated with totally developed areas. This is still virgin land my friend (to a degree though).Give us say, another six to eight years (all things being equal) before we start returning enticing digits. Housing values appreciate faster when the development cycle in an area has been completed. Why buy used when u can get brand new half a mile down the street at competitive rates.
For as long as land is readily available for developing, the housing prices in Atlanta will continue to appreciate at the current level (4%).
Your deal on the 120k house that was bought back in 88 for 103k is a no-winner except if this is a wholesale price on a rehab.
Go to http://homesales.ajcclassifieds.com/ click on the “Recent Home Sales” link to check for general comps in an area.
If you need more info, do let me know.
I am very new to REI and live in Atlanta. I would love to meet some people in REI in Atlanta to share ideas with. Does anyone in this posting live in Atlanta and interested and getting together to discuss some ideas?
Thanks!