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Old 06-30-2016, 05:55 PM
 
Location: Historic West End
4,220 posts, read 3,589,368 times
Reputation: 4025

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Yep no move in ready homes in West End. So many new people asking is their anything to rent.
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Old 06-30-2016, 08:12 PM
 
257 posts, read 140,744 times
Reputation: 413
It's tight here, but worst in country? No way. Moved from the Bay Area and it's way worse out there.

Seems like PR - maybe a purposeful study design to deliver a good headline to help GA MLS to convince more folks to sell their home.
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Old 06-30-2016, 08:37 PM
 
Location: Valdosta (Atlanta Native)
3,531 posts, read 3,075,603 times
Reputation: 2330
They're are plenty of unoccupied homes on the West and South sides of the city, not to mention the many subdivisions popping up overnight all over the city. There are 3 subdivisions within a mile of mine that were abandoned after the recession, or only halfway completed. (Mine was a new house in a old subdivision).

Edit- Here's an example https://www.bing.com/mapspreview?&cp...=1&form=S00027
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Old 06-30-2016, 08:42 PM
Status: "Apparently not a person." (set 28 days ago)
 
5,105 posts, read 3,311,260 times
Reputation: 3402
I know the value of my townhome has gone up about 35% in two years, and more than 50% in three years. The bad news is that, that means it's worth just a little bit more than we paid for it ten years ago, after being underwater for so long.

But, my wife and I have been looking at houses quite a bit. It's $350,000 to get a decent 3-4 bedroom house built in the last ten years even in Mableton. Forget the northern suburbs...that's not even an option without going to Acworth.
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Old 07-01-2016, 06:38 AM
 
2,097 posts, read 1,837,001 times
Reputation: 1977
Quote:
Originally Posted by fieldm View Post
BS.

That title goes to San Francisco imo
Yeah. Atlanta has about 90 days of inventory and SF has about 30 days.

The data for the original article comes from here, and it looks like they are talking about how ATL has had the biggest decline in days on the market.

Also, April was a bad month and that set May up to be a great month.
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Old 07-01-2016, 08:17 AM
 
3,146 posts, read 1,455,640 times
Reputation: 2395
Quote:
Originally Posted by glovenyc View Post
A study by Georgia Multiple Listing Service confirms what many have suspected, or already known, about Atlanta: there’s a huge shortage of homes for sale here.
In fact, according to the data — relayed recently in this news release by Virgent Realty — Atlanta’s shortage of homes is the worst in the whole freaking country as of May 2016.






Study: Atlanta has Worst Home Shortage in Whole Country - Curbed Atlanta

I believe it. Georgia continues to attract a lot of new residents and they need a place to live.
Even during the recession people were still moving here like nothing. Not sure about it being the worst in the country though...
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Old 07-01-2016, 08:21 AM
 
994 posts, read 1,175,773 times
Reputation: 1225
Homes are going under contract in my neighborhood quickly, sometimes within a week of listing. Appreciation has accelerated, too, so buyers are trying to get in before the asking prices and valuations exceed their approved qualification levels. Buyers are also making concessions about what they thought were non-negotiables. The competition is such that they are accepting things they thought were deal breakers. If they won't accept it (whatever "it" happens to be), surely there's another buyer who will.
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Old 07-01-2016, 08:28 AM
 
Location: Downtown Marietta
1,124 posts, read 775,477 times
Reputation: 1472
Quote:
Originally Posted by abalashov View Post
I find this hard to believe. I had a 1 BR condo in Midtown that was worth $160K when I financed in May 2007 (perversely, before the first wave of the subprime crisis-related Fed rate cuts). When I strategically defaulted on it in summer 2015[1], it appraised at $85K. It's around $90K now.

[1] In part due to being 48% upside down and most alternative courses of action being forbidden by the HOA (e.g. a leasing gap and building chronically being leased to the limit).
This is not all that surprising. The market for 1BRs is extremely limited, particularly in a metro like ATL, so they'll certainly be among the slowest to recover.
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Old 07-01-2016, 08:49 AM
 
29,944 posts, read 27,396,115 times
Reputation: 18525
I'm guessing there's some truth to this. I know someone who's in the market for a house in Atlanta and he's having a tough time finding anything, even on the west and south sides. I'm wondering if investors have snapped up a lot of homes on those sides of town and are just sitting on them.
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Old 07-01-2016, 08:55 AM
 
Location: Vinings/Cumberland in the evil county of Cobb
1,275 posts, read 1,184,209 times
Reputation: 1423
Once again I agree that the market has heated up, and it may be a sellers market. However the "Worst Shortage in the Whole Country" seems a little dramatic. Places like San Fran, LA and personal experiences in NYC make me doubt that claim. There seems to be plenty of inventory that may in places that are not trendy, which is fine.
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