Atlantafi.com is bringing you the latest on the coronavirus pandemic, which has the state of Georgia and the city of Atlanta under a state of emergency.
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Atlanta, Georgia figures to once again loom large when it comes to real estate for the new year.
The metro area is once again one of the top housing markets in the United States, according to new figures from the National Association of Realtors.
Lawrence Yun, NAR chief economist and senior vice president of research, forecasts that Atlanta will be the nation’s top real estate market to watch in 2023 and beyond, an NAR news release says.
- Yun predicts that 4.78 million existing homes will be sold across America in 2023, with prices stabilizing.
- Home sales will drop by 6.8% compared to 2022.
- The median home price will hit $385,800, which constitutes a 0.3% hike compared to 2022.
Top 10 Real Estate Markets to Watch in 2023
Atlanta-Sandy Springs-Marietta, Georgia
Raleigh, North Carolina
Dallas-Fort Worth-Arlington, Texas
Fayetteville-Springdale-Rogers, Arkansas-Missouri
Greenville-Anderson-Mauldin, South Carolina
Charleston-North Charleston, South Carolina
Huntsville, Alabama
Jacksonville, Florida
San Antonio-New Braunfels, Texas
Knoxville, Tennessee
Because of affordability issues, the Atlanta metro area is far down the list for 2023, says a recent Realtor.com report, as midsize markets with adequate housing rise to the top.
As home sales declined in the second half of 2022 with the rising of interest rates, real estate experts are hopeful that the new year brings home shoppers back to the market.
Are Home Sales Going To Rise?
The top markets are expected to see home sales increase 5.2% year-over-year in 2022. Additionally, average home prices in the top 10 markets are expected to jump 7.3% while the rest of the nation will only see a 5% bump.
How To Afford A Home Right Now
With so much economic pressure on Americans, it’s understandable that many would be concerned about affording a home right now. But the key is that you can get in the home you want and need for the most part.
One thing you’ll have to do is get pre-approved by a lender of your choice, who will consider the income you take in annually as well as your debt and credit.
You can gauge how much you can comfortably spend on a new mortgage in a really simple way. See our home affordability calculator.
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More details have come to light about movie mogul Tyler Perry’s construction of his mega mansion outside Atlanta.
The property, which is located in Douglas County, Georgia encompasses more than 800 acres, making it one of the largest pieces of in-tact land available in all of metro Atlanta.
Tyler Perry’s New Mansion: Here’s What We Know
The Madea actor bought the acreage back in 2013 with plans to build on it at some point. I guess the time is now. The massive estate is currently under construction.
According to TMZ, Perry is investing a lot of planning into the property because he wants his young son to appreciate nature as well as animals, which the property will have plenty of.
This is the second Atlanta-area mansion Perry has lived in, if you remember Avec Chateau, which is located on Paces Ferry Road in Buckhead.
As you know by now, Perry is a billionaire. Most of his worth comes from the content he’s created over the years, particularly his movies. With the ascension of Tyler Perry Studios, Perry now reportedly generates a quarter of his worth from that property.
Here Is The Latest Picture Of The Tyler Perry Mansion
As you can see, landscaping is
Where Is Tyler Perry’s Mansion Located?
The palatial estate encompasses hundreds of acres surrounding a mansion located in Douglas County, which is about 20 minutes outside Atlanta.Some of the amenities that have been revealed to be in the mansion so far are:- Lap pool
- Helipad for a helicopter
- Jet runway
- Organic farm with horses
How Big Is Tyler Perry’s New Mansion And What’s It Worth?
According to media reports, Perry’s new mansion encompasses 40,000 square feet of space and is valued at $100 million. According to Douglas County real estate records, Perry was able to purchase the property in liquidation after plans for a subdivision feel through.
Here are some metrics we have learned about the property:
- 40,000 square-foot home
- 2,100 acres
- 8 bedrooms
- 12 bathrooms
Under Construction: Tyler Perry’s New Mansion (Pics)
Final Word
When it is built, Perry’s new mansion will be the most expensive in the Atlanta-area.
Like a good movie, the mansion is taking several years because Perry wants it done right. No doubt when the project is complete, pictures of the finished mansion will circulate on social media.
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If you need help with your rent in DeKalb County, a local government program may possibly be able to help. The program is similar to one for Atlanta residents, but there are some key differences.
If you live in DeKalb and are struggling with rent, you may qualify for assistance. The program pays for rent, rent arrearage, utilities, utility arrearage and other housing costs.
This article is going to show you how to apply for rental assistance if you quality.
How To Apply For Rent Assistance In DeKalb County
For those in need, DeKalb’s government has responded with help. If you’re wondering who can receive it, the program is for qualifying residents who live outside Atlanta.
The DeKalb assistance program gives temporary rental and utility assistance.
The application process re-opened for DeKalb’s COVID-19 Tenant-Landlord Assistance Coalition Program in June 2022. So far, nearly $60 million in funds have been dispensed to eligible households in need of rental and utility assistance.
You’ll need to provide some personal information like your name, address as well as proof of income, if any.
Like other programs, you must meet the eligibility requirements to be approved. Annual family income limits are:
- Family of one: $46,350
- Family of two: $52,950
- Family of three: $59,550
- Family of four: $66,150
How To Apply For Rental Assistance In DeKalb
To apply for rental assistance in DeKalb, sign into the Efile Page.
Once you have registered on the website, follow the steps to input your information.
Last Words
Submitting a TLAC application does not guarantee assistance will be provided. Applications must be reviewed for proper qualification to receive assistance and financial assistance offered by the TLAC program will expire when DeKalb County’s Emergency Rental Assistance grant funds are exhausted.
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.
If you’re interested in finding a place to rent in Atlanta, here are some steps to follow.
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According to a recent study, the metropolitan Atlanta area leads the nation in cities where it is cheaper to rent rather than buy a home.
The data, compiled in Realtor.com’s June 22 report, shows that the trend of higher home prices has flipped from what it was just a year ago.
“Eight of the top 50 metros flipped from having monthly buy costs lower than monthly rent costs in 2021 to having monthly rent costs lower than monthly buy costs in 2022, and one metro flipped from favoring renting to favoring buying since last year,” the report says.
Why Is Renting Cheaper Than Buying a Home Right Now?
The report indicates that interest rates, which recently eclipsed the 5% mark, are a major factor in putting homeownership out of the reach of many people.
Due to recent actions of the Federal Reserve, the average 30-year fixed mortgage rate was 5.52% in June 2022. Just five months ago in January, that figure was 3.45%.
Let’s look at the metro areas where it is cheaper to rent than buy a home, according to Realtor.com.
Cheapest Metro Areas For Renting Vs. Buying A Home
Metro Overall Median Rent Overall Rent YY Studio Median Rent Studio Rent YY 1-br Median Rent 1-br Rent YY 2-br Median Rent 2-br Rent YY Atlanta-Sandy Springs-Roswell, GA $1,858 10.8% $1,718 14.6% $1,731 11.4% $2,065 9.4% Austin-Round Rock, TX $1,864 19.6% $1,534 22.8% $1,720 23.5% $2,050 17.0% Baltimore-Columbia-Towson, MD $1,820 9.6% $1,451 2.6% $1,716 9.2% $1,940 10.2% Birmingham-Hoover, AL $1,278 9.8% $982 -3.8% $1,186 8.5% $1,343 11.5% Boston-Cambridge-Newton, MA-NH $2,966 23.6% $2,499 24.3% $2,757 19.9% $3,305 25.6% Buffalo-Cheektowaga-Niagara Falls, NY $1,345 10.0% $1,125 2.7% $1,195 8.7% $1,495 8.9% Charlotte-Concord-Gastonia, NC-SC $1,752 18.4% $1,619 20.9% $1,659 19.4% $1,880 12.1% Chicago-Naperville-Elgin, IL-IN-WI $2,000 14.3% $1,700 25.9% $1,960 15.3% $2,200 12.5% Cincinnati, OH-KY-IN $1,499 9.1% $1,200 10.6% $1,438 9.3% $1,626 5.8% Cleveland-Elyria, OH $1,432 12.1% $948 6.8% $1,317 8.6% $1,593 16.5% How To Rent An Apartment In Atlanta Right Now
Atlanta’s rental market has not been for the faint of heart lately. Prices have shot upward over the past 12 months, but there are signs we could see some relief soon.
If you’re looking for an apartment right now, the first thing you need to do is make sure you have a firm budget for rent.
Don’t get misled by amenities are how large the apartment is, get what you can afford.
For example, if your monthly income is $3,000, your monthly rent should be around $1,000.
Typically, you will also need to have the first and last month’s rent. So if you’re renting a $1,000-a-month apartment, you will need to set aside an entire month of income to get the key.
Here’s how to get an apartment for cheap.
Final Word
If you’re interested in buying a home, don’t think you’ll never achieve your goals. Stick to it. Check out our Real Estate Resource Page.
See The Latest Atlanta Real Estate News At AtlantaFi.com.
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If you want to see a modern display of wealth and style, all you have to do is gaze upon the estate on 4110 Paces Ferry Road in Atlanta. This is the most expensive home in Atlanta as well as Georgia, although that won’t be for long.
The Buckhead home used to be owned by movie mogul Tyler Perry, who unloaded it a few years ago.
Who Owns The Famous Paces Ferry Mansion In Atlanta?
The home, which overlooks the Chattahoochee River, was on the market for $28 million at one point, but it’s listed a few years ago for a real steal: Just $21 million (Hey, that’s a bargain for you millionaires).
After it was all said and done, comedian Steve Harvey and wife Majorie were confirmed to be the buyers of the mansion, which was theirs for $20 million in 2020.
Listen to Harvey tell how he stumbled upon the Atlanta mansion.
Inside Atlanta’s Most Expensive Home (PICS)
So what does the most expensive home in Atlanta have that yours does not? Well, a few things. Let’s take a tour inside this mansion so we can see how the 1% actually lives and where they sleep.
The home has 7 bedrooms, 9.5 bathrooms and comes in at 34,688 square feet and sits on 17 acres. Here are some pictures:
Perry sold the property to millionaire evangelist David Turner in May 2016 for $17 million. It was listed for $25 million.
Among the amenities the home has are:
- A 70,000 gallon infinity-edge swimming pool
- lighted tennis court
- Fully equipped gym
- Spa
- Movie theater
- Indoor resistance pool, catering kitchen, wine cellar, guest house, underground ballroom and more.
Final Word
Atlanta has a lot of inspirational people and AtlantaFi.com is going to introduce you to many of them as well as cool places to go, great restaurants and other ATL happenings.
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.
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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Got an event or know of something opening in and around Atlanta? Holla: CJ@AtlantaFi.com. See what’s poppin’ in the ATL! Subscribe to our news alerts here, follow us on Twitter and like us on Facebook.
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Despite the rising costs of food and other necessities right now, Georgia remains one of the cheapest states to live in.
Data from the the Council for Community & Economic Research (C2ER) shows that the Peach State is the top five when it comes to cost of living expenses.
Wondering how Georgia stacks up against other U.S. cities? Here’s the data:
States With The Lowest Annual Average Cost of Living
Rank State Index Grocery Housing Utilities Transportation Health Misc. 1 Mississippi 83.3 92.2 66.3 90.4 86.7 94.7 90.9 2 Kansas 86.5 91.7 72.6 100.2 97.3 100.4 88.4 3 Alabama 87.9 98.2 70.1 100.7 92.7 91.2 94.3 4 Oklahoma 87.9 94.5 74.7 95.1 94.8 94.5 92.6 5 Georgia 88.8 95.9 74.4 90.5 92.6 96.7 97.1 6 Tennessee 89.0 94.7 79.3 92.5 88.8 91.2 94.2 7 Missouri 89.8 95.0 80.3 95.4 92.4 94.6 93.3 8 Iowa 89.9 98.4 76.0 94.9 97.7 99.9 94.2 9 West Virginia 90.5 96.5 78.6 89.4 92.2 88.1 99.7 10 Indiana 90.6 92.7 78.3 99.0 98.3 94.6 96.8 Thinking Of Moving To Georgia?
One of the most attractive places to live in Georgia is the Atlanta-area. The region boasts some of the best weather, a vibrant economy and plenty of things to do.
The first thing you need to decide is whether you want a house or an apartment in Georgia and the Atlanta area.
Look for apartments that don’t do credit checks on potential tenants. That way, it’s easier to find a place.
You’re also going to want to entice the landlord by offering to pay more upfront or even every month.
After you’ve gotten a place to live, you’ll want to get a job (if you don’t already have one). With most people, they have a job, but want a better one.
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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Atlanta’s rental marketplace tilts heavily in the favor of apartments, but Airbnbs continue to make up some of the nicer places to stay in the city.
If you’re planning a trip to the city or thinking of a weekend getaway, the best Airbnbs in Atlanta come with top-notch accommodations.
What Is An Airbnb House?
An Airbnb house is a residential property that people can rent for a short period of time. The site Airbnb.com facilitates the entire transaction between hosts and guests.
The accommodations can be extravagant or bare-bones, depending on what you want to book.
Here Are The Best Luxury Airbnbs In Atlanta
When you need to rent an apartment or home in Atlanta, here are the best Airbnbs in Atlanta:
Inman Park Luxury 2-Bedroom Apartment
This luxury apartment is a top floor unit that is professionally decorated, and located in Inman Park, walking distance to a dozen restaurants, Atlanta Beltline, Krogg Street Market, and just 5 minutes from downtown Atlanta.
Zen Manor In Edgewood With Hot Tub
this modern home with rooftop bar, hot tub, and large private backyard is for you! The kitchen is upscale, parking is plentiful, and you can walk to shopping.
Modern Classic In Atlanta
this beautiful modern and classic farmhouse style ome offers you all there is when it comes to intown living. You’ll enjoy the lush greenery in the backyard and around the home.
Zen House In Downtown Atlanta
This is a beautiful cozy space with peaceful vibes, thoughtfully designed for you to have a relaxing and enjoyable stay.
Atlanta Alpaca Treehouse in the Bamboo Forest
One of the most famous Airbnbs in Atlanta, the Alpaca Treehouse in the Bamboo Forest is well known not only around the city, but much of the nation.
The treehouse is so popular it has its own website.
Price: $375 a night
Check-in experience: 5 Stars
Cabbagetown Cottage
Private and quiet, The 2-bedroom Majic Cottage rests directly off Cabbagetown Park and is the last home at the end of a quiet cul de sac.
Off The Beltline
This centrally-located pad is located right off the Atlanta Beltline. With a 96% neighborhood walk score, you don’t even need a car! Inman park has been rated Atlanta’s best city neighborhood. Bonus: There are amazing restaurants, cafes and parks nearby
Final Word
Rents continue to increase in Atlanta proper, that means Airbnb will continue to be an option for visitors.Atlanta is one of the most convenient places to travel to and from. A large part of that is because Hartsfield-Jackson International Airport is so accessible.
Not only is it the world’s busiest airport, but it’s state-of-the-art in every way. If you’re interesting in traveling around Atlanta via car or even on scooter, here’s what to know.
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Traveling Soon? Check Out Our International Checklist
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One of the most famous locations in Southern hip-hop history can be yours for the renting. The music production outfit known as Organized Noize’s homebase, the Dungeon, is available for rent on Airbnb.
What Is The Dungeon In Atlanta?
The Dungeon is where the hitmaking studio of Organized Noize was located. In the 1990s, the home was the residence of Atlanta producer Rico Wade. In the basement of that home was the Dungeon.
That’s where hit acts like Outkast, Goodie Mob, and Organized Noize formed the music collective known as the Dungeon Family.
In a video shared by Outkast member Big Boi, you get to see the interior of the Dungeon.
Three years ago, Big Boi purchased the property, showing it off on social media. Back then it still had many of the markings from its hey day.
But now, the spot has been renovated. Here’s a look inside:
Organized Noise’s Dungeon is one of many Atlanta homes on the popular platform Airbnb. These homes are getting national attention.
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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If it’s time for you to re-up on your apartment lease, you may be able to stop a payment increase or even lower it. The main thing you should keep in mind is that an open line of communication can open the door to rent savings for you.This article will show you some steps you can take to negotiate your rent.4 Ways You Can Negotiate Your Rent Price
I don’t have to tell you how rent prices continue to affect the economic landscape in metropolitan cities like Atlanta and other areas. Rent prices typically always go up and never come down, so any relief you can bake into your lease is something you should pursue.Let’s go over some ways you can work out an arrangement to lower your rent.Can I Negotiate My Rent?
I know what you’re thinking: Are rent prices negotiable? Everything, including rent prices, is negotiable. The way to get what you want is to have something of value that your landlord wants or needs in return.The truth is that few things are given to us in the world, and that includes opportunities to save money. You have to make the effort to save money to be help your finances.1. Offer Your Services
Are you a chef? Do you own a side business? Whatever you do, see if you can offer your services to your landlord in exchange for cheaper rent.Here are some things you may be able to do for your landlord:- Paint the interior or exterior of your place.
- Do some on-the-side plumbing work.
- Lawn care or other maintenance services.
2. Offer To Sign A Longer Lease
Another way you can negotiate a cheaper rent rate is to agree to sign a longer lease.For example, if you would normally sign a lease for one year, offer to sign for 18 months. The landlord will see the extra money he or she can make.3. Agree To Pay A Lumpsum
Most landlords will take a deal that includes them getting a lumpsum payment. Of course, you’ll want to reduce the overall payment in exchange for a lump sum.For example, if your rent is $1,000 a month, then instead of incrementally paying $12,000 for the year, you could offer to pay $10,000 in cash. The landlord may not be able to pass up an opportunity to make that kind of money instantly. Also they may reason that the cash can help them pay for some other expense that needs immediate attention.4. Write A Letter To Your Landlord
Why not just ask your landlord to lower the rent? This should be done in writing so that there’s a documented record of the request.
You can simply make a petition based on your current or projected income and other specific circumstances. Make sure you tell them how much you love your apartment and what you like best about the property.
Also, tell them specifically how much you’d like taken off your rent so that there’s no confusion.. If you’re nice about, the landlord just may consider, especially if they value you as a tenant.
5. Offer To Live In Another Unit
Another way you can knock off some of your rent money is to negotiate moving into another unit that is less expensive. You could also tell the landlord that you will do minor fixes to the place.
For example, if you’re in a three-bedroom unit, you might consider downsizing to a two-bedroom or one-bedroom if your circumstances allow.
Final Word
Getting a rent reduction can really make a difference in your overall budget. Don’t hesitate to write out all the things you do to improve and beautify your living space. Show it to the landlord so they know the efforts you take to make your apartment livable.
After you negotiate your rent, it’s time to move into your new place.
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If you’re interested in buying property, you should know all you can about a short sale, which is a very valuable transaction in real estate.
In this article, we’re going to tell you what you need to know about a short sale in real estate.
What Is A Short Sale?
A short sale is one in which a motivated seller, typically someone in financial trouble, sells their home for less than what it’s worth.
Because of the complexities involved, a short sale will typically involve a lender who approves the transaction. Another difference from a traditional real estate transaction is that in a short sale, the seller doesn’t pay for closing costs. Those fees are split between the lender and buyer.
As you can imagine, a short sale is a good deal for the buyer, but can be a terrible thing for the seller, at least in one sense.
Is A Short Sale Good Or Bad?
A short sale is good for the buyer because they get to buy a home for far cheaper than it normally would be listed for.
On the other hand, for the seller, a short sale may get them out of a mortgage, but their credit will take a major hit in the process.
The seller will typically look to do a short sale of a home as a way to avoid a foreclosure, which would hurt their credit even more.Is It A Good Idea To Buy A Short Sale House?
You may be weighing whether buying a short sale house is a good idea. While the price will likely be reduced, you should know that there may be some issues with the home that require quite a lot of time or money.For that reason, short sales are usually purchased by seasoned real estate investors, who have the time and money to invest. Let’s talk about what’s required.The Time
The time you be spent not only repairing the home and getting it into shape for someone to live there, but securing the necessary paperwork and permits from the appropriate government agencies.The Money
You can bet that it’s going to also cost you a pretty penny to turn the home into something that attracts a buyer. Let’s just not hope that there’s no foundation or roof problems, which will be quite expensive.Where Can I Find Short Sales In Georgia?
You can get a list of short sales in your area by reaching out to your local Realtor, who would be familiar with the process as well.
You can also find short sales on the following real estate websites:
- Berkshire Hathaway Georgia
- ColdwellBankerHomes.com
- ForeclosureListings.com
- Foreclosure.com
- ShortSaleAtlanta.com
- UrbanNest
Final Word
Real estate prices are on the rise around the state, but you can find a good deal if you’re patient.
Contrary to its name, a short sale may take several months before it is finally approved. You can use that time to secure a contractor to do some of the jobs that need to be completed once the home becomes yours.
You may need a plumber, electrician and carpenter for starters.
Are you trying to become more financially literate? Check out Money Mondays at AtlantaFi.com, where we’ll share strategies to save and make cash.
If saving money is something you’re serious about, AtlantaFi.com has a lot of resources to help you.Read more: