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The average cost of an Atlanta home has dropped in price over the past six months, which bodes well for homeowners looking to jump into the market. Is the trend expected to continue in the short term? Keep reading.
How Much Does A Home Cost In Atlanta?
The median price for a home in Atlanta sold for $391,685 in December 2023, according to Rocket Homes. That figure is an decrease of 3.2% from last year.
Are Houses Expensive In Atlanta?
The median sales price continues to increase for single-family residential properties in Atlanta as well as other major cities across the country. That means homes in Georgia’s largest city are considered expensive.Here are some more Atlanta housing statistics from Rocket Homes from October 2023, the latest available at this writing:
What Is The Price Of An Atlanta Home By Bedroom Count?
# BEDS# BEDROOMS OCT 2022 OCT 2023 CHANGE 1 Bedroom $259.8K $257.3K -1.0%2 Bedrooms $367.8K $335K -8.9%3 Bedrooms $408.9K $385.8K -5.6%4 Bedrooms $647.5K $575.2K -11.2%5+ Bedrooms $1.2M $925.3K -24.1%See more Atlanta housing statistics at the U.S. Census
Atlanta Housing Market: A Refresher
Atlanta’s leaders in the late 1990s took on the challenge of breaking up the city’s concentrated poverty. This meant that housing projects had to be demolished. That’s exactly what happened.
The large-scale demolition helped spread low-income families throughout metro Atlanta, especially in Clayton and Fayette counties.
Due to the rising costs of inflation, affordable housing began to dwindle in Atlanta. This has increased due to the growth of the Beltline.
Since 2005, more than 2,600 affordable workforce units have been created within walking distance of the Atlanta Beltline. But more must be done.
The city is committed to building 5,600 housing units that are affordable.
Final Word
Purchasing a home may not be as affordable as it used to, but as long as you take the proper steps, including getting an inspection, it can work out.
When it comes to buying land your risk is not as great, but it still takes strategy. On the other hand, you may want to explore the rental market if it makes more dollars and sense for your wallet.
If a home is what you need for you or your family, it may be time to make some money moves to come up with a mortgage.
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One thing you’re going to need if you’re trying to get a house is a mortgage. And to get a mortgage, you need to be pre-approved.
At this point, you should have saved up all the money you can for a down payment.
If you’re already pre-approved for a home loan, it signals to the loan officer, real estate agent and seller that you’re ready to purchase — and not playing around.
What Is The Best Way To Get Pre-Approved For A Mortgage?
The best way to get pre-approved for a mortgage is to have all your paperwork in order, but it includes more than that.
Your credit score is of paramount importance to a mortgage lender, but more on that later.
Follow These 3 Steps To Get Approved For A Mortgage
This article will go over the steps you need to get pre-approved so that you can get a mortgage.
First, let’s go over what a mortgage pre-approval is and how it works for you.
A mortgage pre-approval is a preliminary step to buying a home. It involves an initial offer from a lender to loan you a certain amount of money so that you can buy a home.
What Is A Mortgage Pre-Approval And How Does It Work?
The amount of money that the lender pre-approves is based on their evaluation of your three things:
- Your Creditworthiness
- Your Finances
- Your Job Outlook
A mortgage pre-approval will require that you hand over a lot of your personal information, including your Social Security number for a credit check and more.
1. Get Your Free Credit Report
The first step you need to do is get a free copy of your credit report. You can do that by going to AnnualCreditReport.com.
AnnualCreditReport.com is a government-backed website that shows you your credit reports from the Big 3 credit Bureaus: Equifax, Experian and TransUnion.
2. Shop Around for a Lender
Different lenders offer different mortgage products and may have different criteria for pre-approval. It’s a good idea to shop around and compare offers from multiple lenders to find the best terms for your situation
3. Get Your Credit Scores
You’ll also want to find out what your credit scores are from the Big 3 credit bureaus. If your credit scores are low with a particular credit-reporting agency or with all of them, you should try to improve them.
Here’s how to improve your credit score easily.
What Credit Score Is Needed For A Home Loan In Georgia?
In Georgia, as well as elsewhere, you’re going to need a credit score on the high end to qualify for a home loan.
According to Credit Karma, which uses the Average VantageScore 3.0 model, the national qualifying average credit score is 717. In Georgia, you’ll need a score around 700 to purchase a home.
f your credit score is lower than you’d like, take steps to improve it before applying for a mortgage. This can include paying down existing debts, making all your payments on time, and avoiding opening new lines of credit.
4. Have Your Financial Paperwork In Order
Before you get pre-approved, you’ll need some documents for verification purposes. These include:
- Social Security number
- W-2 or 1099 tax form
- Paycheck Stub
If you plan to have someone on the loan with you — perhaps a spouse or significant other — they will have to submit some personal information as well.
To apply for a mortgage pre-approval, you’ll need to provide various documents, including proof of income (such as pay stubs or tax returns), proof of assets (such as bank statements), and information about your debts (such as credit card balances and loan payments).
5. Get Pre-Approved!
Once you gather all of that financial information, you can submit it for mortgage pre-approval to your lender of choice.
Here’s a pro tip you might want to consider: Always try to get pre-approved with more than one lender. This increases your chances of getting pre-qualified exponentially.
Once you’ve chosen a lender, you can apply for pre-approval either online, over the phone, or in person. The lender will review your financial information and credit history to determine how much they’re willing to lend you and at what interest rate.
If you meet the lender’s criteria, you’ll receive a pre-approval letter stating the maximum amount you can borrow and the terms of the loan. This letter can be used to show sellers that you’re a serious buyer when making an offer on a home.
Once you’re approved, you can start to search for your dream home in Atlanta or any city you want to live in.
Conclusion
Your mortgage pre-approval is just that, a pre-approval. That means it still might not go through due to financial issues that come up.
Let’s say you lose your job during the pre-approval process. Then it’s a good chance, the lender will back out and your mortgage won’t be approved.
That’s why it’s a good idea to dispute any issues on your credit report or any other issues that come up. Here’s how to dispute your credit report.
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Buying a house in 2024 is a bit more challenging than in recent years, but according to real estate experts, the market is set to improve.
In this article, we’ll go over how to buy a house in Atlanta.
How Much Do You Need To Make To Buy A House In Atlanta?
According to recent data, the median home price in Atlanta is around $350,000. However, home prices can vary widely depending on the neighborhood and type of property you’re interested. If you’re a novice homeowner (or not), it’s best to do your homework on the front end.
Read our guide on how much home to afford.
Atlanta’s real estate market features the best of the Southeast, which means you’ll likely get plenty of land, but the prices continue to encroach upon what you’d find in the Northeast.
Thinking about buying a home this year? Here are a few factors you might want to consider:
Get Your Money Right
There’s nothing like falling in love with a home you know you can’t afford. Places like Buckhead, Dunwoody, Fayetteville and Locus Grove have big homes but so are the mortgages.
Before you start looking for a house, it’s important to understand your financial situation. This includes knowing your credit score, saving for a down payment, and getting pre-approved for a mortgage.
Read our guide on how to get pre-approved for a mortgage.
Understand the Atlanta Market
The Atlanta real estate market is a volatile one in that it can trend in different directions throughout the year. It’s your job to stay on top of the changes.
Real estate markets can vary widely depending on location and economic conditions. Research the housing market in the area where you want to buy to understand pricing trends, inventory levels, and competition.
Make a Wish List
It’s important to get what you want out of your home. Some people need privacy; others need entertainment space.
Make a list of what you’re looking for in a home, including must-haves and nice-to-haves. This will help you narrow down your search and focus on properties that meet your criteria.
Hire a Real Estate Agent
A good real estate agent can be invaluable in helping you find the right home, negotiate a fair price, and navigate the buying process.
The best real estate companies take their time with you and provide excellent customer service all while making you feel heard and seen.
Get a Home Inspection
Once you’ve found a home you like, it’s important to have it inspected by a professional. This can uncover any potential issues with the property that could affect its value or your decision to buy.
A home inspection can provide peace of mind knowing that you’re making an informed decision about the condition of the property.
Overall, a home inspection is an important part of the home buying process that can help you make a more informed decision and avoid potential issues down the road.
Make an Offer
When you’re ready to make an offer on a home, your real estate agent can help you determine a fair price based on comparable sales in the area and other factors. They can also guide you through the negotiation process.
Secure Financing
Once your offer has been accepted, you’ll need to finalize your mortgage. This involves providing documentation to your lender, getting an appraisal, and completing the underwriting process.
Close on the House
The final step in buying a house is the closing process, where all the necessary paperwork is signed, and the ownership of the property is transferred to you. This usually involves paying closing costs and fees, so be prepared for these expenses.
Final Thought
Buying a home is a wonderful experience when you think about the dream of homeownership and its many benefits.
The process of buying a house can vary depending on your individual circumstances, so it’s important to do your research and work with professionals who can help guide you through the process.
Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Not to mention that the city’s dining scene is the best in the Southeast. Looking for a home? Check out our Real Estate Resource Page.
Keep up with what’s going on in Atlanta’s real estate scene here with our Apartment Guide.
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The Atlanta real estate market in 2024 is shaping up to be more difficult than previous years as home affordability continues to be a theme. As interest rates climb, the real estate industry as a whole has responded by contracting.
That means it’s getting more difficult to buy land in Georgia as property values rise across Georgia of late, but experts are expecting things to cool off at some point.
According to Realtor.com, existing home sales will rise, but not as much as in recent years past. Here’s the forecast:
Metro Atlanta Real Estate Outlook: 2024
Two years ago, Atlanta had perhaps the hottest real estate market, and it’s still the leading housing market to watch, although the reasons why are not as plentiful as they have been in years past.
Will 2024 Be a Better Time To Buy a Home?
The year 2024 will be one in which homeowners face increased prices for homes. Average home values in the metro Atlanta area will mimic much of the nation, which is forecast to see as much as 6% hikes.
Not every location will have home values that increase though. Depending on the neighborhood, town, village and subdivision, some homes see drops in price.
Still, some ominous signs are starting to appear in the U.S. housing market based on national trends, according to Realtor.com.
- Homes actively for sale have fallen 2% compared to last year.
- Unsold homes have fallen 3.7% compared to last year.
- The median price of homes for sale in October 2023 remained stable compared to the same time last year.
- Homes spent 50 days on the market – one day shorter than last year and more than two weeks shorter than before the COVID-19 pandemic.
Is Atlanta’s Housing Market Overpriced?
Atlanta’s housing market has been one of the most overpriced in the Southeast. According to a study from Florida Atlantic University, metro Atlanta was the second most–overpriced housing market in 2023, only behind Coral Springs, Florida.
If you live in Atlanta, you’ll be feeling some pain in your wallet, and you might be paying more than you should be. According to data from Florida Atlantic University, Atlanta has the most overpriced housing market in the United States.May 9, 2023
Is 2024 a Good Time To Buy a Home In Georgia?
In September 2023, homes in Georgia sold for 98.3% of their listed price. This means that sellers are willing to negotiate and offer discounts. The GDP of Georgia grew by 5.8% in 2022. This shows that real estate property investment is a beneficial option for potential home-buyers.
Will Prices Go Up Or Down In 2024 In Atlanta?
Prices in Atlanta, Georgia are expected to grow on average of 6% based on Zillow data. That represents a 1% increase compared to the 4% annual growth experienced before the COVID-19 pandemic.
There will be a glut of inventory of homes for sale in the metro area, and they will likely take longer to get offers and sales. How to afford a home will also be more of a challenge this year as economic factors loom, expert data says.
As home shoppers are expected to pre-qualify for a mortgage, there will be more homes for sale, homes will likely take longer to sell, and buyers will not face the extreme competition that was commonplace over the past few year.
If you have a home for rent inside the Perimeter, finding a tenant shouldn’t be a problem as favorable rents will drive strong demand from the north side of the city to the southern end.
Will House Prices Be Cheaper This Year?
With so many people moving to Atlanta annually, rather than become cheaper, leading real estate market experts expect home prices to increase slower than they have over the past two years.
Atlanta, one of the fast-growing cities when it comes to home sales, is not unlike other large Southern cities in that it is expected to continue to be a red-hot market. That means a dip in housing prices is unlikely.
One of the main factors that will influence home prices is the economic landscape of the United States. Namely, the incremental movements by the Federal Reserve to get inflation in check.
While interest rates are ticking upward, the chance that a full-blown recession takes hold in 2023 can’t be entirely discounted. But what such a move will no doubt do is slow down the mortgage industry.
Rising mortgage rates are expected to continue to shed competition among people looking to buy a home. While a buyers market is a possibility in some areas, for metro Atlanta, it is anticipated that real estate prices will hold up just enough that such a market won’t firmly take hold.
Home shoppers priced out of the market will likely create pressures on the rent market, boosting prices once again.
Home Prices On Atlanta’s Southside: Up
One of the most dramatic increases in home prices is happening on Atlanta’s southside, below Interstate 20. Take for instance the Sylvan Hills neighborhood.
Sylvan Hills
The average home prices in Sylvan Hills is $232,000, according to RedFin.
The area is only four miles from downtown Atlanta and is a historically economically depressed area, but not anymore. Gentrification is happening there and in similar areas on a large scale.
Like Capitol View just north, Sylvan Hills homes sell for about 4% below list price and pending sales last around 62 days.
Adair Park
Adair Park over the past five years has had some of the hottest real estate parcels in Atlanta.
Bordered by the West End on one side and the Pittsburgh community on the other, Adair Park has benefited from its close proximity to downtown Atlanta as well as Hartsfield-Jackson Airport.
The average home price in Adair Park is around $240,000, according to RedFin. Homes there sell for about 4% below list price and sales are pending around 41 days.
Atlanta Beltline
But we can’t talk about Atlanta housing trends and real estate outlook with the “B” word: Beltline.
Nothing has shaped Atlanta real estate prices more than the Atlanta Beltline project, which continues to finish a 22-mile loop around the city’s best neighborhoods.
Redevelopment, such as the opening of Krog Street Market and other projects have skewed home prices in the city’s interior in many cases leading to double digit growth.
As more projects see the light of day, we can only predict that home values around the Eastside, Westside and Southside Trails will continue to rise.
Read more: This People Are Having Too Much Fun On The Atlanta Beltline
Overall, many people, especially those relocating to Atlanta, continue to opt for the suburbs. They also are choosing areas farther out, including Dawsonville, Cumming, Stockbridge and Cartersville.
The Georgia real estate market is up 20% over the decade, with most of that confined to the metro Atlanta area.
Here Is How The Georgia Real Estate Market Has Grown From 2010-2018
- 2010 -4.41%
- 2011 -7.33%
- 2012 -1.75%
- 2013 5.14%
- 2014 6.59%
- 2015 6.37%
- 2016 6.69%
- 2017 7.14%
- 2018 8.23%
The Georgia Home Price Index is on an unprecedented streak, having risen for the last 26 consecutive quarters.
Final Word
Homeownership is becoming attainable for more Americans than ever before. And especially is that the case in Georgia.
The Peach State’s largest city has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Not to mention that the city’s dining scene is the best in the Southeast. Looking for a home? Check out our Real Estate Resource Page.
Keep up with what’s going on in Atlanta’s real estate scene here with our Apartment Guide.
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If you buy an older house, one of the expenses you may eventually face is a bathroom remodel. That means you’re going to have to have some money set aside.
How Much Is a Bathroom Remodel?
The cost of remodeling a bathroom can vary widely depending on several factors, including the scope of the project, the quality of materials, your location, and whether you’re doing the work yourself or hiring professionals.
On average, bathroom remodeling costs in the United States can range from a few thousand dollars to tens of thousands of dollars or more. Here are some cost considerations:
A few months ago, we decided to remodel a bathroom in our Georgia home. I knew that I wanted to take an affordable option rather than go all out on the bathroom renovation.
In this article, I’m going to show you all the steps to take to remodel a bathroom for less.
How To Remodel a Bathroom
Before you get started, you need to consider some things:
Scope of the Project
The extent of your bathroom remodel will have the most significant impact on the cost. A minor cosmetic update, such as replacing fixtures and giving the bathroom a fresh coat of paint, will cost significantly less than a full-scale renovation that involves moving plumbing, replacing all fixtures, and changing the layout.
I knew that I wanted to spend around $5,000 on a bathroom remodel. That automatically meant that whoever I hired needed to be a small business owner and not a big conglomerate that hires a bunch of people.
Design and Planning
If you hire a designer or architect to help plan your bathroom remodel, their fees will be an additional cost.
If you’re married, there is a good chance that your spouse may choose to take on this part of the project. Not only will it save you money (like it did in my case) but it can make for a happy home:)
Materials and Fixtures
You also need to decide if you’re going to buy high-end fixtures from boutique vendors or if you’re going to visit your local Home Depot and Lowe’s for the run-of-the-mill products.
The quality and type of materials and fixtures you choose can greatly affect the cost. High-end materials, like natural stone or designer fixtures, will increase the budget.
Labor Costs
Finding affordable contractors has always been a sport in Atlanta, but it’s a necessary endeavor if you want to save more.
If you hire professionals, labor costs will be a substantial portion of your budget. Labor costs can vary by location and the complexity of the work.
Each of these resources has their detractors, but I found a contractor by looking at the following places:
- Angi
- Google Reviews
- Craigslist
Read our guide on hiring a reputable contractor.
Permits and Inspections
As a rule of thumb, in most municipalities, if you tear down an existing wall, you’ll need a permit to get the work done. This is not only a safety protection, but it ensures that local building codes are enforced.
Depending on your local building codes and the extent of the remodel, you may need permits and inspections, which can add to the overall cost.
Demolition and Disposal
One of the most unexpected costs associated with a remodel is demolition and disposal of the trash. Many contractors will build the expenses of trash removal into their fee, but – as I found out – not all of them.
To save money, I chose to physically remove the trash from my home myself, and it was a major headache!
Removing old fixtures, tiles, and other materials can be a labor-intensive process and may require a dumpster for disposal.
Plumbing and Electrical Work
If you need to move plumbing or electrical connections, it will add to the cost of the project as well.
When you hire a contractor for a job that includes skills of the major trades, it is their responsibility to bring tradesmen in on the job to get the work completed.
Unexpected Issues
No matter how well you plan, there is always the possibility of unexpected and unforeseen problems with a remodel.
In my case, an old corroded plumbing pipe added some significant expenses and time to the project. You’ll have to plan for this whenever doing any kind of remodeling project.
Final Word
Remodeling a bathroom or any room in your house is a major task. There are so many pieces you’re going to have to put together to avoid crazy stress or debt problems.
And you also need to hire a reliable contractor that knows how to get the job done in the timeframe you’ve established.
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Hiring a contractor is a crucial part of any building or remodeling project you plan to start at your home. When I remodeled my bathroom, I had to make sure I hired the right person because I was trying to save money.
This article will show you how to hire a contractor in Atlanta.
Hiring a contractor for a home improvement or construction project is an important decision. It’s also essential to set a budget and stick to it, while allowing for a contingency fund to cover any unexpected expenses that may arise during the renovation process.
Define Your Project
Before you can hire someone to come to your home, you need to have a clearly defined idea of what you want accomplished.
Clearly define the scope of your project. Understand what work you want to be done, the materials you prefer, and any specific design or functionality requirements. This will be essential when communicating with potential contractors.
Do Your Research
Don’t just hire the first contractor you find online. Interview multiple contractors to find the best one that is available and works for you.
- Contact several contractors to discuss your project. Ask about their experience, previous projects, and whether they have worked on similar projects.
- Request references and follow up with those references to gauge the contractor’s reliability and work quality.
Get Recommendations From People You Know
Some associate of yours has likely gotten some renovation work done before. You just have to solicit them for advice and recommendations.
- Seek recommendations from friends, family, neighbors, and co-workers who have had similar work done. Personal recommendations are valuable.
- Online Searches: Use online resources, such as review websites like Yelp, Angie’s List, or the Better Business Bureau to find contractors in your area.
- Trade Associations and Unions: Check with local trade associations, such as the National Association of Home Builders (NAHB) or the National Association of the Remodeling Industry (NARI), for reputable contractors.
Here are some sites you need to check to find contractors:
- Angi
- Google Reviews
- Craigslist
Before You Hire a Contractor
Always take the extra time it takes to check for licensing and insurance.
Verify that the contractor is licensed and insured to work in your area. Contact your local licensing board to confirm their credentials.
Request a copy of their insurance certificates to ensure they have liability insurance and workers’ compensation coverage. This protects you in case of accidents or damage on your property.
- Get Detailed Quotes:
- Ask for written estimates from the contractors you are considering. Make sure the estimates are detailed, including labor, materials, and a timeline for the project.
- Beware of significantly low bids, as they may indicate subpar materials or work quality.
- Check for Permits and Contracts:
- Ensure the contractor will obtain any necessary permits for the project. It’s essential that they comply with local building codes.
- Sign a detailed contract that includes project specifics, payment schedule, start and completion dates, and warranties. Read and understand the contract before signing.
Agree On a Payment Schedule
Everyone likes to know when they’re getting paid, so it would be a mutual benefit to discuss a payment schedule.
You’ll want to avoid paying the full cost upfront. A common practice is to make an initial down payment, with the remaining payments scheduled based on project milestones.
Also, never make the final payment until you are satisfied with the completed work.
Continually Give Your Opinion
To stay on the same page, always strive to maintain open and clear communication with the contractor throughout the project. Regular updates and addressing any concerns promptly are crucial.
- Document Everything:
- Keep records of all documents, including contracts, receipts, and communications with the contractor. These can be important in case of disputes or issues.
Make a Final Inspection
The contractor expects you to give the final go-ahead on the project, so don’t be shy about having an opinion on even the smallest things.
Once the work is completed, do a final inspection to ensure that everything is up to your satisfaction. Address any issues promptly.
- Review and Feedback: Consider leaving a review or providing feedback on the contractor’s performance, as this can help others in the future.
No matter if you have an expensive home or an average home, remember that choosing the right contractor is essential for the success of your project.
Final Word
You’re spending your own money, so make sure your contractor and yourself are on the same page at all times.
Remember to get a more accurate estimate for your specific bathroom remodel, it’s a good idea to consult with local contractors and obtain multiple quotes. The complexity of the project and your location will have a significant impact on the final cost.
Take your time, do your due diligence, and don’t rush into a decision. Hiring a reputable and qualified contractor can save you time, money, and stress in the long run.
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Are you an Atlanta entrepreneur who needs an office? More office leasing space is about to be available in Atlanta, Georgia.
CP Group, a prominent owner-operator of commercial real estate throughout the country and the largest privately-owned office landlord in Georgia, today announced that it has executed over 17,000 square feet of leasing activity across two new leases at 3225 Cumberland – a 220,000-square-foot, nine-story Class A office building located in Atlanta, Georgia.
Cumberland Office Space Available
Steam Logistics, a fully integrated third-party logistics provider, which relocated from another office park in the Cumberland-Galleria submarket to sign a lease for 10,900 square feet of office space. Paul Hanna of JLL represented the tenant.
National Endovascular Associates, a management company for interventional radiology practices, which signed a lease for 6,144 square feet of office space. Bill Langley of DT Spade represented the tenant.
Kevin Driver and Parker Welton of Stream Realty Partners represented the landlord in both transactions.“We are excited to welcome these two leading firms to the property and very happy they chose 3225 Cumberland as their new home in Atlanta,” Scott Barr, Senior Vice President at CP Group, says in a press release. “Great companies like these continue to value strategically-located, amenitized office environments, and our portfolio is well-positioned to meet that need.”
Amenities at 3225 Cumberland include multiple walkable restaurants, a newly renovated grab-and-go market; a fitness center; shared conference rooms exclusively available for tenant use; a transportation lounge; and 24/7 onsite security. Additionally, 3225 Cumberland is surrounded by 25 miles of walking and biking trails.
3225 Cumberland is located in the Cumberland-Galleria submarket — one of Atlanta’s most institutional office markets — and offers unobstructed views of the Atlanta skyline. Its ideal location also affords tenants easy access to I-75 and I-285, as well as a range of dining options and lifestyle amenities; Truist Park and The Battery (home of the Atlanta Braves); the Cobb Galleria Convention Center; and the Cobb Energy Centre for the Performing Arts.
Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Not to mention that the city’s dining scene is the best in the Southeast. Looking for a home? Check out our Real Estate Resource Page.
Keep up with what’s going on in Atlanta’s real estate scene here with our Apartment Guide.
See The Latest Atlanta Real Estate News At AtlantaFi.com.
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Heirs property can be a blessing or curse depending on how it’s administered. The documentary Gaining Ground talks about this in detail.
If your relatives are holding onto a piece of property of Georgia, there are some strategies you should consider putting into place to keep it.Acres of land that have been passed down to relatives and the rest of the family is called “heirs property.”
The truth is that it may be easy for someone outside the family is get their hands on your land.
Although you may love the concept of heirs property, it can be a legal headache if you don’t know how to handle it.
In this article, we’ll discuss what heirs property is and how you can protect yourself legally.
What is Heirs Property?
Heirs property is an arrangement where no descendent is clearly designated as the legal heir. This means that multiple descendants all have an equal right to the land, which can cause confusion in the courts.
In fact, many judges will view heirs property as a legally unstable situation. That’s why they are more likely to side with a clear claimant of the land, who can prove a percentage of ownership.
How Is Heirs Property Created?
Heirs property is not something that is designed, but it ends up like that as a matter of circumstance. Here are some ways that heir’s property is created.
- The owner dies and doesn’t have a will
- The owner has a will but divides the land among relatives
The result is that you end up with a “fractured” title, which means that the land has no clear owner.
Who Qualifies For Heir’s Property?
if you’re wondering who can qualify for heirs property, it typically falls to immediate heirs who are family members. They include:
- Children
- Grandchildren
- Other close relatives
All the heirs of the property have the same rights and an equitable say in what happens to the estate, so it’s important to be of one accord.The downside is that all heirs are also fair game for any creditors that may be owed a debt.Can Siblings Force The Sale Of Heirs Property?
It’s very important that siblings of inherited property be on the same page when it comes to their plans for the land. Divisions can become evident when one or another heir wants to sell and one doesn’t.
The only way for one heir to execute their rights to the land over another is if they go to court. One heir can’t force another to sell the property against their will.
One heir can choose to buy out the other though, which is quite common.
How To Handle Heirs Property
If your relative has died and they didn’t leave a will and testament, here are some ways to handle heirs property.Create A Land Management Entity
Many families have created business entities that serve as land management companies for the land. This can be done by forming an LLC, which has the legal right of executor.Once you have a land management company, you have a strong position to represent yourself across several legal avenues.Consolidate Ownership
Have a family meeting in which you ask other family members to consolidate ownership to one family member. This is usually the best course of action, but it may be a tough sell for dysfunctional families.Once ownership is consolidated, the appointed family member can represent the various interests of the group. This usually works best in legal settings.File An Affidavit
See if your state allows for descendants to file an affidavit of heirship. This can be used to prove land ownership.Again, having the proper paperwork is so necessary when contesting and proving land ownership.Final Thoughts
If you find yourself in a situation where you’ve inherited property along with other family members, remember that you can work it out.You need to make sure you get out of any heir’s property arrangement because it doesn’t protect you or the land.If you want to know how to buy land in Georgia, here’s a guide.Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Not to mention that the city’s dining scene is the best in the Southeast. Looking for a home? Check out our Real Estate Resource Page.
Keep up with what’s going on in Atlanta’s real estate scene here with our Apartment Guide.
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If you have dry hair, keeping it moisturized can be a challenge for a busy person. The good news is that it can be done with top-notch products.
This article will tell you all about how to moisturize dry hair and the products you can use.
You may be wondering why your hair is so dry in the first place. Many hair follicles suffer from something low porosity, which can make hair super-brittle and eventually break.
What Is Low Porosity Hair?
Low porosity hair refers to hair that has difficulty absorbing and retaining moisture due to its tightly closed cuticles. The cuticles are the outermost layer of the hair shaft, and in low porosity hair, these cuticles are tightly packed together, making it challenging for water or products to penetrate the hair shaft. As a result, moisture tends to sit on the hair’s surface rather than being absorbed, leading to a dry and often dull appearance.
Of course, you know that using heatless methods to elongate and loosen curls, resulting in a stretched or straighter appearance, is a great way to get your hair ready to be moisturized. This can include techniques like banding (wrapping hair sections with elastic bands), African threading, or twist-outs using larger twists.
Now let’s look at the best ways to moisturize your hair:
Best Hair Moisturizers
Sheamoisture Hydration Hair Milk for Dry Hair
Carol’s Daughter Mimosa Hair Honey Pomade
Okay Black Jamaican Castor Oil Moisture & Curling Sorbet
Regardless of the method chosen, it’s crucial to prioritize hair health and minimize heat damage. Make sure to use a heat protectant product before applying heat, avoid excessive heat exposure, and regularly deep condition and moisturize your hair to maintain its health and minimize breakage.
Paul Mitchell Tea Tree Hair and Body Moisturizer
Oligo Professionnel Blacklight Nourishing Conditioner
Briogeo Superfoods Avocado and Kiwi Mega Moisture
Final Word
Consider consulting with a professional hairstylist or researching specific techniques tailored to your hair type and texture. They can provide personalized advice and recommend the best approach for straightening your hair while maintaining its health and integrity.
The Atlanta hair industry is one of the largest in the Southeast, with more than 8 million people getting groomed each month.
But you can do it yourself. All you need are some quality shears and some high-performance clippers to get the job done. Check out our Beauty Page for other ways to get shaped up.
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Looking for an affordable home in Atlanta can be a full-time job these days. And when you think about it, I guess that’s what Realtors are for. But an interesting trend has been happening in Georgia’s largest city of late: Home prices have been falling.
Are Atlanta Home Prices Dropping?
In an unexpected development, Atlanta home prices have recently dropped, although it’s not the only city experiencing a dip.
One reason why home prices may be falling in Atlanta is that it was a prominent market for ibuyers, who have largely gone out of business or pivoted into other commerce segments.
Real estate investors bought nearly 50% fewer homes in the first quarter of 2023 compared to the previous year, according to a recent RedFin study. That figure represents the largest annual decline ever.
“While investors have pumped the brakes on home purchases, they’re still scooping up a bigger share of homes than they were before the pandemic, which can create challenges for individual buyers at a time when there are so few homes for sale,” said Redfin Senior Economist Sheharyar Bokhari. “Investors have gravitated toward more affordable properties due to still-high housing costs and rising mortgage rates, which has left first-time homebuyers with fewer starter homes to choose from.”
Should You Still Buy A Home In Atlanta?
We all know that when a market is red-hot, prices are inflated. Atlanta is one of the hottest real estate markets in the nation, so the recent price drops sting a little bit.
At the same time, if you’re looking to buy a home, you should think about doing so when prices are dropping. Why? Because it’s going to save you money.
If you’re an investor, you know that it typically is a good investment to purchase when the pricing is low. Experienced investors know that investing is a long-term endeavor.
Should You Still Sell A Home In Atlanta?
When you’re trying to sell a home in a down market, the key to success is to move it as quick as possible. Usually that means you’re going to have to make a very attractive offer when it comes to pricing.
If your home is priced below some of the comparable structures, you’ll know pretty quickly by the interest you draw. Depending on your competition, you may need to adjust the price after a month or so to gain some traction.Don’t underestimate the power of upgrading your home’s curb appeal as well as making minor cosmetic fixes.Where Are Home Prices Falling?
Here are the largest decline among the 40 metros Redfin analyzed in the first quarter of 2023:
- Nassau County, New York | -67.9%
- Atlanta | -66%
- Charlotte, NC | -66%
- Phoenix | -64.2%
- Nashville, TN | -60.4%
Las Vegas, Jacksonville, Philadelphia, Tampa, FL and Orlando, FL, all saw home price declines of more than 50%, the report says.
Overall, investors bought $27.5 billion worth of homes in U.S. metropolitan areas in the first quarter, says RedFin. That’s a decrease of 46.3% from $51.2 billion one year earlier and down 12.4% from $31.4 billion one quarter earlier. The typical home investors purchased cost $427,901, which means little changed from the prior quarter and a year earlier.
Final Word
Given how much homes cost in Atlanta, if you’re an investor, this may be a great time to buy. On the other hand, if you’re selling a home, you may get less than you anticipated.