10 Best Places for House Bargains

Atlanta SHOULD be on this list!!!

Daily Real Estate News  |   February 11, 2008

The best place to get a bargain on a home is an area where there is healthy job growth and more houses available than people to buy them.

These are markets “where you have high inventories but pliable borrowers, with lenders willing to deal,” says Anthony Sanders, a professor of finance at Arizona State University.

Forbes magazine went looking for markets where the damage from risky lending hasn’t been as dramatic as in some parts of the country and where employment growth will burn off an over-abundance of inventory quickly.

Here are what the magazine considers the 10 best cities for bargain house hunters.

1. Salt Lake City, Utah. Developers have gotten ahead of the demand, but the city is adding jobs more quickly than practically any place else in the country.

2. Raleigh, N.C. Another place where building got ahead of the curve, but the economy is expanding quickly.

3. Orlando, Fla. This part of the state had fewer speculators than Miami and Tampa, and it’s adding jobs faster than those cities as well.

4. Charlotte, N.C. The financial industry is moving here, adding jobs, but the inventory of unsold homes is still significant.

5. Phoenix. This city had a high foreclosure rate, but the economy is growing and people are still moving here in large numbers.

6. Seattle. The city’s port has profited from the weak dollar, but the housing price growth has slowed.

7. Las Vegas. This market was hit hard by foreclosures, but the growing economy makes the huge inventory less toxic than it is many places.

8. Jacksonville, Fla. The foreclosure rate is slower than the rest of the Florida cities, making the large inventory likely to improve.

9. Richmond, Va. There is only one foreclosure per 1,103 households here (compared to 1 in 33 in Detroit). Still, there are plenty of homes on the market.

10. Houston. Homes in Houston have long been a bargain. While there have been plenty of foreclosures, the population and the economy are expanding.

Source: Forbes, Matt Woolsey (02/07/08)

Khe-Khe’s Jazz Resturant…believe the hype!

So I finally made my way to Khe-Khe’s (thanks Ayana for the invite). I went in with high expectations (since Westview residents talked it up…)…and I have to say, they EXCEEDED my expectations! This mother/ daughter team provided more than good conversation and food(I was too early for the music).

Anyway, I was a bit greedy. After doing that BeltLine canvassing for 5hrs- I was ready to EAT…so I did. I ordered baked Chicken, Potato salad, Blackeye peas and white rice (I told you I was hungry) Cabbage and yams!… I ended up taking some home (which was gone that night)..but guess the price…?? guess??… $8!!! I know- I was shocked too. Their “slap your mama” yams- had my husband rushing to Krogers to buy some, just to attempt to follow the recipe Ms Martha gave him (and between you and I…I’m SURE they will not taste like hers)…

Just being there felt like “home”…as we discussed Brooklyn (represent! lol… ), the housing situation, our youths and seniors. And did you know- Ms Martha- MARCHED on Washington, and knew Mrs. King? …….

Also, did you know – Westview is the home of a Jazz Artist? More on this later; we have all been invited to a show next week…..

How to Reduce Homebuying Stress

Buying a home is stressful for many couples. Not only are they making decisions that will affect their lives for years to come, they also are being asked to make them under less-than-perfect circumstances – like an uncertain housing market.

Psychologist Linda Sapadin offers three stress minimizers to home-buying couples:

  • Don’t turn on each other. “Recognize that this is a stressful process, and if you blame the other person, then what you usually get is counter-blame,” she says. “So it’s much better to put the blame on the process.”
  • Don’t expect perfection. “You want to assume that things are not going to go perfectly, that there’s going to be some unexpected difficulties, expenses, problems to solve,” Sapadin says, “so just know that up-front.”
  • Speak to supporters before you speak to your critics. “There could be one relative who says, ‘What?! You’re spending that much money?’ or ‘You’re moving there?’ Don’t tell that person until you and your partner are united,” Sapadin says. “If there’s some part of you that is uncertain, you don’t want to undermine that uncertainty by speaking to your critics.”

Source: Newsday, Dina Santorelli (01/25/08)

West End Trail Groundbreaking: A Community Celebration

Saturday, February 23 at 12:30 p.m. there will be a community Celebration at Rose Circle Park where our mayor, Shirley Franklin, will turn a shovel of dirt to formally commence the West End Trail, the 1st segment of the Beltline. See this West End BeltLine flyer for details

NPU-T Weekly Update 2/10/08

Hello neighbors and friends,

I am pleased to report that the first annual NPU-T Executive Committee Leadership Retreat held this weekend was a remarkable success. Many thanks to all the NPU-T officers, committee chairs, and neighborhood association presidents who sacrificed a considerable amount of time to focus on improving our capacity as a leadership team. Our appreciation also goes out to the following supporters who helped make the retreat possible (presenters list & agenda contact me for copy):

  • Georgia Stand Up
  • Morehouse College, Community Revitalization Initiative
  • Councilwoman Mary Norwood, Post 2 At-Large, Atlanta City Council
  • Capitol City Bank
  • West End Merchants Coalition
  • Subway (1175 Ralph David Abernathy Blvd) 

Please see the following announcements about this week’s NPU-T meetings and other government information. To view the full NPU-T calendar and other posted documents, visit http://www.google.com/calendar/render?tab=mc.

  1. NPU-T Monthly General Meeting –  7:30PM Wednesday February 13th at Founders Hall (Shrine of the Black Madonna) 952 Ralph David Abernathy Blvd, SW Atlanta, GA 30310. AGENDA AND JANUARY MINUTES CONTACT FOR COPY
  2. Urban Design Commission 4:00PM Wednesday February 13th at Atlanta City Hall, (City Council Chambers) 55 Trinity Ave., S.W. The Urban Design Commission holds public hearings for Council nominations for designation of buildings, sites and districts. The Commission also regulates the City’s historic preservation regulations and decisions regarding applications for certifications of appropriateness. NPU-T neighborhoods have several items on this agenda. For more information, contact Karen Huebner at 404.330.6200 or visit the UDC here. AGENDA CONTACT FOR COPY  
  3. ARC Transportation Spotlight Newsletter – Transportation is central to metro Atlanta’s growth and success. As the federally-designated Metropolitan Planning Organization (MPO) for the 18 county Atlanta Region, the Atlanta Regional Commission (ARC) develops regional plans and policies to enhance mobility, reduce congestion and meet air quality standards. See the February issue of the ARC Transportation Spotlight newsletter here.  
  4. GDOT Local Projects  – The Georgia Department of Transportation (GDOT) announces road closures and detours related to the construction projects in the Downtown Connector corridor that includes resurfacing I-75/85 in summer 2008 and replacement of the 14th Street Bridge. See more information, see the following link: 14th Street Bridge Improvement Project 

If you are not currently in this email group and would like to continue receiving information related to NPU-T business and activities, as well as public notices forwarded from various government agencies, please notify the administrator at kwabena.nkromo@gmail.com or join the group directly at http://groups.google.com/group/nput_members. Please forward this notice to your neighbors and friends.

Kwabena “Cubby” Nkromo, NPU-T Chair
“Dedicated to building on our strengths in clean, safe neighborhoods.”

Mobile: 404.587.2227
Home: 404.753.4311
P.O. Box 11176
Atlanta, Ga. 30310