Although the real estate business has taken a severe hit over the past couple of years, there are reasons to invest now and leverage a buyer’s market. Atlanta, Georgia is one urban area where prices have remained somewhat stable and there has not been the rapid over growth that some areas of the country, such as Las Vegas, experienced. This means that while the real estate market in Atlanta still has some issues, there is not the glut of overpriced real estate inventory that exist in some regions.
Atlanta is a region that has managed to remain affordable while still seeing some of the price dips that make some attractive options available. The current unemployment rate in Atlanta continues to hover around or slightly above the national average, which might seem like a deterrent, but considering the whopping unemployment that some areas have seen the real estate market would still be considered sound. Atlanta still boasts several key components that are attracting new business, such as the recent announcement of Phillips-Van Heusen Corporation, to the area.
Even today, Atlanta’s real estate market is considered to be more affordable than other high growth urban areas, and there is not as much city sprawl as in some markets. Many people who work in Atlanta are used to purchasing lower priced homes outside of the city and commuting into the metro area. As with any real estate purchase, educating oneself about the various areas of the city and the surrounding regions is absolutely critical to understanding a good purchase in the market. There are still new phased construction communities being actively developed in locations such as Lakestone and Suwannee. Be sure to review the more popular and sought after school districts as well, especially as you get closer to the city center.
Buyers who are looking to buy homes in Atlanta are usually looking at specific areas of the city they want to move to, such as ‘Intown’ or ‘Southside’. It’s important to take note of the particular regions of the city and review current homes on sale to determine if their is a glut in a specific area, or higher demand in another.