Need easy access to Georgia Tech?

Have you looked in Home Park for your new home?   In this market, a home purchase may be more affordable than renting-and a better investment. 

Not familiar with Home Park?  Home Park was developed in 1901 as housing for workers at the Atlantic Steel Mill located where Atlantic Station is today. Over time and due to the schools’ close proximity, it has developed a large student population, being a popular alternative to on-campus housing at nearby institutions Georgia Tech and Georgia State University, resulting in a low owner occupancy rate. Because of its location directly south of Atlantic Station and north of Georgia Tech, it has recently seen an increase in property values and development

*Information from Wikipedia*

Here’s a good listing in Home Park- affordable with enough space for a roommate!

FMLS# #: 5066049    1102 Center Street NW  3bedrooms/2 bathrooms  list price $253K

Atlanta No. 2 most affordable housing market

Metro Atlanta hasn’t been the greatest place in the country to own a home, as everyone with a devalued house in these parts knows.

There is some good news, relatively speaking, though.

It doesn’t cost that much to buy here.

Atlanta ranks second in the U.S. among the top 25 metro areas in terms of home affordability, new research from Interest.com, a Bankrate company, shows.

The median household income in the Atlanta area exceeds the income required to purchase a median-priced home here by 40 percent. That’s better than every other  big market except for Detroit, where it’s 45.32 percent.

The rest of the top five most affordable metro areas are Minneapolis, Phoenix and St. Louis.

Of course, Detroit is hardly the symbol of economic success, and Phoenix has had major housing issues.

The least affordable markets: San Francisco, New York, San Diego, Miami and Los Angeles.

Housing affordability is key concern nationally, and nationwide a  median-income household can afford a median-priced home in only 14 of the 25 largest markets, the study found.

Mike Sante, managing editor of Interest.com, said, “Despite all the talk about how homes are more affordable than they have been in decades, buying a home is still a big challenge for many American households.”

Sante continued, “Dealing with rising expenses and stagnant wages is a struggle. Even after years of declining home prices and record-low mortgage rates, median-income households are unable to afford a median-priced home in nearly half of the metropolitan areas that we looked at.”

AJC 10:39 am October 17, 2012, by David Markiewicz

Seeking a Builder/Investor for Camp Creek Subs..

Great opportunity for a builder and or investor to complete a subdivision in prime locations within Camp Creek!  These subs are ready for your vision- plats in place, utilities and site map- take a look at the site plans below. Let’s discuss the possibilities!

http://targetmarkmedia.com/mylestone/index.html

http://targetmarkmedia.com/thefallsatcampcreek/siteplan.html

**An Opportunity to be the first GREEN development!!

Buying Is a Good Investment, If You Choose Right

Pessimists are implying that the housing market will never get any better and housing will always be a lousy investment.

Are they right? Of course not, say experts at the Motley Fool finance Web site.

In fact, the Fools predict that pretty soon housing will be a great investment because prices will have fallen to the point where homes are cheap.

Then as now, the Fools say the key to buying a home that is a good deal will be:

• Location
• Don’t overpay
• Buy what you can afford

If the price goes up, great, the Fools say. If not, buyers will be OK because they have picked a great place to live.

Source: The Motley Fool (08/23/2010)

Rental Market Feels Pinch From Joblessness

Apartment vacancies are rising nationwide, driven by job losses.

 Housing experts expect the multifamily vacancy rates will soon be at 8 percent nationwide, higher in some areas.

 “Apartment vacancies in the fourth quarter went from around 6 percent to 6.7 percent so it was a very quick reaction,” says Hessam Nadji, managing director of research for real estate brokerage Marcus & Millichap.

 Top-of-the-line properties are having the greatest difficulty finding tenants, while Class B and C buildings are holding up better.

 “People are dialing down their residential expenses,” says Richard Anderson, BMO Capital Markets analyst.

 The downturn is pushing down sales prices for apartment buildings, and construction was off 35 percent in 2008. Marcus & Millichap predicts it will decline another 40 percent to 50 percent in 2009.

In the long run, though, this could be good news for landlords. “If you fast-forward to 2011 and 2012, you will see very little new supply and favorable renter demographics in the number of 18- to-34-year-olds,” Nadji says.

 Source: Investor’s Business Daily, Marilyn Alva 02/05/09