Atlanta Housing Market Updates--2013 (Tucker, Belvedere Park: sales, home sales, neighborhoods)

[mrpanda]

That is awesome

What we saw in the Phoenix real estate market, we will see here in Atlanta.

Something big is going to happen here... that is why i moved here!

I need to hurry up and get myself two more Lambert investment properties this year before this market really takes off.

Originally Posted by joey86

Atlanta housing starts spiked 91% in 2012 - Atlanta Business Chronicle 91% jump in new starts in 2012.

[cqholt]

Something big is going to happen here... that is why i moved here!

Hopefully not the same low density, sprawl type.

[mrpanda]

Just came back looking at a home to build a 2100 sq/ft SFR 4bed/2.5 bath on a 5000 sq/ft lot. Reminds me of the high density homes they were building in Irvine, California back in 1997.

Irvine, California 1997 = Johns Creek, Georgia 2013

Originally Posted by cqholt

Hopefully not the same low density, sprawl type.

[wilful]

Originally Posted by mrpanda

That is awesome

What we saw in the Phoenix real estate market, we will see here in Atlanta.

Something big is going to happen here... that is why i moved here!

I need to hurry up and get myself two more Lambert investment properties this year before this market really takes off.

Notice that you focus on JC to the exclusion of Suwanee in Forsyth and Gwinnett. What are your observations regarding these areas and especially the North Gwinnett H.S. cluster. Am considering either a purchase or perhaps even an investment there. Any thoughts and also do you know anything about Townsend Creek Sub in North Gwinnett Cluster?

[tonygeorgia]

I heard that the housing market is back on track. I have several co-workers who have been looking to purchase a house and after about a few days the house that they are looking at will be off the market. They had to end up purchasing homes in new subdivisions in extreme NE Metro Atlanta

[K-SawDude]

Anecdotal here, too, but some of the condos in my building (ITP, on Westside) going on the market are going under contract within 3-4 days. Maybe it's a fluke, but it seems really different from the past two years.

[SLIMMACKEY]

Originally Posted by ATLTJL

I don't necessarily know if I would say having a ton of housing inventory snatched up by investors to become rental properties is good news for the market.

I can see how you would feel that way and actually respect it. But on the other hand, I recently bought 3 blighted properties to restore and rent. The fact of the matter is that the excess inventories need to be rehabbed and occupied to help strengthen the market. I dont live in the city full time anymore but I come back twice a month from NYC. The types of investors needed to scoop up the properties are you and me. Not large investors but independant investors who are not trying to manage massive interstate portfolios. If you owned 2 or 3 rentals and live in ATL the chances of the becming blighted is extremely low compared to an investor in Arizona who owns 15 homes and has a larger portfolio.

[sirrob]

Yep...Looks like about 80% of the houses that I'm searching for online in my price range (75-100K) in east metro are under contract/pending approval, etc...

[10 feet tall]

Things are turning around, but inventory is still low. Prices are certainly not back where they were a few years ago, but honestly they shouldn't be since they were so inflated. If you are out there needing to sell your home, you can sell it now, but probably not for what you think it is worth, particularly if you bought it during the bubble.

[cqholt]

but probably not for what you think it is worth

That's the key. Prices were artificially inflated, now it seems that they are more realistic.