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Old 01-22-2013, 06:51 AM
 
Location: Kirkwood
23,726 posts, read 24,930,064 times
Reputation: 5703

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Quote:
Everyone knows a lot of rentals aren't good for the neighborhood. That's why HOAs cap them.
If the landlords take care of the property and don't put up with crap from the tenants. A good mix of social-economic classes is always good for a neighborhood.
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Old 01-22-2013, 07:54 AM
 
3,715 posts, read 6,008,010 times
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Things are generally looking up, but we're still in recovery mode from the collapse of fall 2011 (which was far more severe in terms of the rate of decline than the downturn in 2007-2009). I'll be making blog posts as significant data becomes available (such as new housing starts and price indices).
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Old 01-22-2013, 01:17 PM
 
9,007 posts, read 14,093,725 times
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Quote:
If the landlords take care of the property and don't put up with crap from the tenants
Maybe, but how good do you think a giant company that manages thousands of properties is going to be at this?
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Old 01-22-2013, 07:25 PM
 
Location: Mableton, GA USA (NW Atlanta suburb, 4 miles OTP)
11,334 posts, read 26,139,256 times
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Quote:
Originally Posted by K-SawDude View Post
Aren't there examples of crappy homeowners who let their properties go down the toilet, too?
I'm sure there are. Might depend on the presence and/or general nature of the local HOA, if any.

Quote:
I sometimes think we overrate homeowners while underacknowledging the fact that our economy has a much larger range of renters than it did even a few years ago, thanks to the recession. (Some of these new renters WERE former homeowners, btw, and they aren't any worse at upkeep now than they were previously.)

And it's arguable that renters might be more likely to upkeep a house than an unoccupied foreclosure just sitting there doing nothing for years.
You make some good points, and I admit the few renters I've been aware of in our subdivision have been relatively indistinguishable from any other residents. I'm also aware of a number of properties where the tenants haven't been so kind to the property, but those have been rather different neighborhoods, so potentially very different renters also.

I dunno.
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Old 01-24-2013, 10:27 PM
 
906 posts, read 1,749,070 times
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As if on cue, Creative Loafing has just come out with a good piece on the current Atlanta housing situation, specifically focusing on the massive corporate investment in foreclosed-homes-turned-rentals:

http://clatl.com/atlanta/big-busines...53&storyPage=1

They do a good job of spelling out some pros and cons of this trend. Here's a thesis-y excerpt:

Quote:
The practice by large real estate investors of flipping homes for a quick buck is nothing new. But renting and managing properties has also long been the realm of mom-and-pop landlords who rarely have the means to expand beyond a couple dozen homes. With big business comes the prospect of big change. By quickly removing thousands of foreclosed homes from the market and turning them into rentals, these firms could potentially jump-start the slogging local economy, increase home values, and begin to rebuild communities in neighborhoods racked by vacant properties. But this real-life game of Monopoly has also attracted the attention of activists and other community advocates who say that the negative effects could outweigh the positive. They fear that some of the same executives involved in the devastating housing crisis are now laying the groundwork for another real estate bubble.
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Old 01-30-2013, 04:46 PM
 
616 posts, read 1,115,176 times
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We are currently housing hunting on the north side of town (East Cobb, North Fulton, Dunwoody), and I can tell you inventory is low. There is practically nothing of quality for sale right now by normal standards. We may actually quit looking until more homes are available (much to the disappointment of our realtor).
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Old 01-30-2013, 10:30 PM
 
Location: Leaving FL
9 posts, read 11,218 times
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Default Market

Housing starts are up and most forecast put them over 1 million in 2013. Which is going to be close to the historical average of 1.5 million. Atlanta is expected to build aprox 20k when you add single and muti family. So the market is improving slowly along with prices.
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Old 01-30-2013, 10:38 PM
 
9,007 posts, read 14,093,725 times
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Quote:
I can tell you inventory is low. There is practically nothing of quality for sale right now by normal standards.
I think what has happened is everybody knows the values are low, so nobody is willing to sell right now unless they have a job transfer or some other reason why they simply must sell.

In the beginning of the bust, you saw tons of inventory, but most of it was from people "testing the waters." They put their homes on the market for what they thought the home was worth, but when reality finally set in and they realized nobody would pay what they wanted, they simply took their homes off the market instead of reducing the prices to market value. Once the market has caught up to what people actually think their homes are worth, you'll see a lot more come online. There are tons of people eager to get out of their homes that are just waiting until they can demand a decent price.
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Old 01-31-2013, 06:08 AM
 
616 posts, read 1,115,176 times
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Quote:
Originally Posted by ATLTJL View Post
I think what has happened is everybody knows the values are low, so nobody is willing to sell right now unless they have a job transfer or some other reason why they simply must sell.

In the beginning of the bust, you saw tons of inventory, but most of it was from people "testing the waters." They put their homes on the market for what they thought the home was worth, but when reality finally set in and they realized nobody would pay what they wanted, they simply took their homes off the market instead of reducing the prices to market value. Once the market has caught up to what people actually think their homes are worth, you'll see a lot more come online. There are tons of people eager to get out of their homes that are just waiting until they can demand a decent price.

I think this is true. We've been hunting for about a month now, and we exhausted the listings we were interested in seeing in just two days of looking. The few homes we liked were markedly overpriced. There are a lot of "fixer-uppers" for sale right now though, if you are willing to put in some work. We are willing to do some updating but not a complete gut job. Now we are waiting for some new listings to come on the market, but it seems like the tap is pretty dry. I feel bad for our realtor who has put in some work with us, but we aren't going to buy a house we don't like.
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Old 01-31-2013, 10:51 AM
 
1,697 posts, read 2,254,750 times
Reputation: 1337
Atlanta housing starts spiked 91% in 2012 - Atlanta Business Chronicle 91% jump in new starts in 2012.
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