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Old 11-13-2008, 09:43 AM
 
Location: West Cobb County, GA (Atlanta metro)
9,191 posts, read 33,883,354 times
Reputation: 5311

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Interesting article, though it comes as no real surprise for those who have watched stuff popping up out of the woodwork lately...

LINK: Atlanta a poor choice for real estate investing, report says | ajc.com (http://www.ajc.com/metro/content/business/stories/2008/11/12/atlanta_real_estate_report.html - broken link)
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Old 11-13-2008, 11:11 AM
 
439 posts, read 852,694 times
Reputation: 271
Quote:
Originally Posted by atlantagreg30127 View Post
Interesting article, though it comes as no real surprise for those who have watched stuff popping up out of the woodwork lately...

LINK: Atlanta a poor choice for real estate investing, report says | ajc.com (http://www.ajc.com/metro/content/business/stories/2008/11/12/atlanta_real_estate_report.html - broken link)
Oh my... Very disappointing as it comes to no surprise. I dont understand how are they going to be able to absorb all that new 'office space'.
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Old 11-13-2008, 11:14 AM
 
722 posts, read 3,316,211 times
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Atlanta is overbuilt now, there's no doubt about it. But to say that Atlanta will cease to grow even after the economy improves, is completely inaccurate. We are still a boomtown and jobs and industry will continue to come here, but for now pretty much every major city is taking a breather. Atlanta is a poor choice for a short term investment, but long term prospects still look good.
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Old 11-13-2008, 11:20 AM
 
439 posts, read 852,694 times
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What about developers who are dropping their projects? We have DR Horton "America's Largest Builder" sells 15 undeveloped lots to Pinske-Bowes (another developer) which filed BK not long ago. Now, our community is underdeveloped, unsecured, unsafe, and any other 'un' you can find...
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Old 11-13-2008, 02:31 PM
 
1,755 posts, read 5,681,397 times
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My wife works in commercial real estate. Mostly they've handled foreclosed developments that barely begin, where the bank took over the note and needed the value of it.
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Old 11-13-2008, 08:05 PM
 
Location: West Cobb County, GA (Atlanta metro)
9,191 posts, read 33,883,354 times
Reputation: 5311
Quote:
Originally Posted by alinka72 View Post
What about developers who are dropping their projects? We have DR Horton "America's Largest Builder" sells 15 undeveloped lots to Pinske-Bowes (another developer) which filed BK not long ago. Now, our community is underdeveloped, unsecured, unsafe, and any other 'un' you can find...
Not all developers are stopping their projects. See this thread: //www.city-data.com/forum/atlan...-oriental.html

(with condos going up to 15 million dollars! )
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Old 11-13-2008, 08:15 PM
 
Location: ATL
4,688 posts, read 8,020,143 times
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This is good for atlanta, if atlanta was a good real estate investment city that means the prices of homes would be sky high and most people could not afford them. Id rather for the prices to stay the way they are verses being high like in Cali, Miami, Nyc, etc
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Old 11-13-2008, 08:15 PM
 
Location: San Francisco
2,079 posts, read 6,114,813 times
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Well and also, many developers have more personal ties with companies, and many developers try to offer something "different" in their building to companies, as well. So long as companies are expanding or moving around to here or in here, there will be a degree of new construction in the office market because of these special circumstances. Residential multifamily and suburban tract real estate are a different scenario. Multifamily can keep on keeping on with location and amenity variances, moreso in the inner city as opposed to the suburbs. I have no idea how the Atlanta industrial market does.
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Old 11-14-2008, 01:15 PM
 
288 posts, read 959,056 times
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Hey Greg, I saw came across that article as well, eek!
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Old 11-14-2008, 05:55 PM
 
Location: West Metro Atlanta
606 posts, read 2,005,397 times
Reputation: 97
Quote:
Originally Posted by Tdiddy0027 View Post
Atlanta is overbuilt now, there's no doubt about it. But to say that Atlanta will cease to grow even after the economy improves, is completely inaccurate. We are still a boomtown and jobs and industry will continue to come here, but for now pretty much every major city is taking a breather. Atlanta is a poor choice for a short term investment, but long term prospects still look good.
Atlanta is a boomtown ? Yeah, maybe 5-10 years ago.
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