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Atlanta homeowners have the highest anxiety about facing foreclosure going into 2021, according to a new report from RedFin.
About 3.8% of the city’s property owners are concerned about their mortgages. Atlanta also has the fourth-highest share of homeowners who are delinquent on their mortgage payments (13.5%).
Atlanta Homeowners Concerned About Foreclosing In 2021
The high numbers can be attributed to a misconception that Atlantans had over what to do with their mortgages when the COVID-19 pandemic hit.
“There was a misunderstanding in Atlanta for what the different options are for people in forbearance,” said Atlanta Redfin agent Ronisha Carson. “People didn’t know they could refinance, do a prorated monthly payment or tack it on to the end of their loan.”
“In my experience selling foreclosed properties, some people don’t take advantage of forbearance because they aren’t educated on what it entails,” said Redfin agent Gina Sapnar. “There are people who are in forbearance who don’t understand how repayment works. For some people payments are tacked on to the end of the loan, but for others it may be a large payment due immediately at the end of forbearance as a lump sum, which could be very tough for people to repay.”
Wave Of Foreclosures Likely In 2021
Because many mortgage lenders are ending their assistance programs, RedFin is forecasting a wave of foreclosures in 2021. How bad will it be? Not as bad as the Great Recession of 2009, according to real estate professionals.
Experts are hoping that federal and state authorities step up this time — not lenders — to buoy homeowners.
Final Thoughts
If you’re a homeowner in financial distress, there are some avenues you can take to get assistance. Here are some housing resources you can take advantage of.
Thinking of acquiring a property in foreclosure? Here’s what you need to know.
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.More Articles From AtlantaFi:
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So you’re interested in renting an apartment in Atlanta. Although the city is a metropolis, don’t think that means that you have to overpay for a place to live. Since you already know how to find an affordable apartment, this article will show you some prices in Atlanta.
You should already have in mind how many bedrooms you want and some must-have amenities. You may not know what part of town you want to live in (close to the job?) and that’s OK.
How Much Is Rent In Atlanta?
These apartment rentals encompass one-, two- and three-bedrooms so that you can see a variety of what the city has to offer.
To rent an apartment in Atlanta, it depends on the neighborhood, part of town and how close it is to downtown. In general, you can expect to pay around these prices based on median rates:
Studio Apartment $1,000 a month One Bedroom $1,100 a month Two Bedrooms $1,200 a month Three Bedrooms $1,300 a month Atlanta Apartments For Cheap
Let’s get started with a look at some apartment prices around Atlanta:
Arrive Buckhead Apartments
740 Sidney Marcus Blvd NE, Atlanta, GA 30324 | (866) 590-7274
Sample Price: $1,165 to $1,235
Details:
- The Habersham — 740 sq ft
- The Lenox— 745 sq ft
- The Piedmont — 1,130 sq ft
Here’s what one reviewer says about Arrive Buckhead Apartments: “I usually don’t write reviews. But I did want to share my experience. Even though my roommate and I are still on our search for an apartment. I can say we had a really fun tour experience with Nicole. She was fun. Really nice. We related to her which is important felt like we knew her forever. Definitely a tour that’s unforgettable. She answered all our questions. Location is great. Pricing is pretty good too. Most likely well rent here.”
Broadway At East Atlanta Apartments
1930 Flat Shoals Rd SE, Atlanta, GA 30316 | (404) 800-6368
Sample Prices: From $1,009
Details:
- One Bedroom, One Bath — 725 sq ft
- Two Bedrooms, One Bath — 900 sq ft
- Two Bedrooms, Two Baths — 990 sq ft
Here’s what one reviewer says about the Broadway In East Atlanta Apartments: “We have lived at the Broadway at East Atlanta for over 4 years & we love it! The staff of the office is amazing, warm and welcoming. (Kayla is amazing!) The actual apartment is perfect for me and my husband and our 2 dogs. Very pet friendly. The property is beautiful and peaceful. I love how I’m so close to everything but still feel perfectly tucked away and private.”
Glenwood Park Lofts
390 Stovall St SE, Atlanta, GA 30316 | (404) 627-4390
Sample Price: From $1,204
Details:
- One Bedroom, One Bath —721 sq ft
- Designer Cabinetry
- Washer & Dryer Included
- Marble Countertops In select units
Here’s what one reviewer says about Glenwood Park Lofts: “The ladies in the front office have always done an exceptional job with meeting expectations and resolving issues. I’ve always received a quick response when I requested work orders. I can definitely appreciate the upgraded kitchens, large granite island and wood flooring. Glenwood Park Lofts is diversely occupied & conveniently located to all of your everyday needs. GPL is truly a hidden Gem.”
Flats At East Atlanta
2522 Flat Shoals Rd, Decatur, GA 30032 | (404) 400-7281
Sample Price: $1,025 to $1,325
Details:
- Jade: One Bedroom and One Bath — 710 sq ft
- Ruby: Two Bedrooms and One Bath — 1,150 sq ft
- Sapphire: Two Bedrooms and One Bath — 1,200 sq ft
- Diamond: Three Bedrooms and One Bath — 1,325 sq ft
Here’s what one reviewer says about the Flats at East Atlanta: “Hello, I’m a current resident and have been residing at the complex for two years. The staff is friendly and quickly handle any maintenance request I submit. I truly like the fact they continue to upgrade areas around the complex to keep it modern. The complex is dog friendly and have multiple dog sanitary stations throughout. I highly recommend because of the caring staff and close proximity to East Atlanta Village, City of Decatur and downtown Atlanta for work or social outings.”
Peachtree Park Apartments
1000 Peachtree Park Dr NE, Atlanta, GA 30309 | (678) 949-5307
Sample Price: Starts at $1,316 for 1BR | $1,504 for 2 BR
Details:
- Tuscan floorplan: 1 Bedroom / 1 Bathroom and 753 Sq. Ft.
- Maple floorplan: 2 Bedrooms / 2 Bathrooms and 900 Sq. Ft.
Here’s what one reviewer says about Peachtree Park Apartments: “The location is great! You can tell that Ruqayyah and Grant truly care about their tenants, they are always happy to help you. Service requests are done immediately and correctly. Great place to live.”
Tuscany At Lindbergh Apartments
600 Garson Dr NE, Atlanta, GA 30324 | (770) 261-6379
Sample Price: $1489-$1629
Details:
900 SF/3rd Floor |Floorplan: Lenox
Here’s what one reviewer says about Tuscany at Lindbergh Apartments: “Katie is super fast at reaching out and preparing what you need, responsive with trustworthy answers (no beating around the bush-they’re very transparent) , accommodating, and overall sweet! Best customer service I’ve received so far from a complex and I don’t even live here yet!”What Is The Cheapest Place To Rent In Atlanta?
Some of the cheapest places to rent in Atlanta depend on what part of the city they are located.
Eastside: Atlanta’s east side is its most eclectic side, with affordability woven into the area. However, recent building booms in various pockets are starting to reset price points.
Westside: The west side of Atlanta is also generally affordable below I-20. As you make your way farther north, you enter West Midtown, which is undergoing heavy development and price increases.
Southside: The southside of town is generally considered more affordable, especially below Interstate 20 — but there are also upscale properties in the vicinity.
Northside: Atlanta’s north side is generally the area’s most expensive part of town. Anything near what is considered North Atlanta — Buckhead, Brookhaven, Doraville and Chamblee — will generally cost you more money to rent.
Atlanta Apartments For Rent For Under $600
Not everything is above $1,000 around Atlanta. There are some areas where you can really get a cheap apartment for rent.
If you want to find some Atlanta apartments for under $600, here are several of the best rentals.
Final Thoughts
Finding a cheap apartment in Atlanta shouldn’t intimidate you. The key is to do your research. Look up the different school districts and amenities in the various neighborhoods to see if they are places you would like to live.
Remember when dealing property managers to list your must-haves and stick to them.
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.More Articles From AtlantaFi:
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If you need help with your rent in Atlanta, you’re not alone. The COVID-19 pandemic has put millions of Americans in financial distress. But at the very least, you should be able to keep a roof over your head.
This article is going to show you how to apply for rental assistance in Atlanta. It will also give you some helpful tips on how to avoid eviction.
How To Apply For Rent Aid In Atlanta
Like many major metropolitan cities, The City of Atlanta has taken steps to protect its most vulnerable populations from being evicted and ending up homeless during this time.
The rental assistance program, administered through The United Way Atlanta of Greater Atlanta, provides $22 million from the Coronavirus Relief Fund (CRF) to the Atlanta COVID-19 Emergency Rental Assistance Program.
First of all, you should know that the City of Atlanta Rental Assistance program provides up to $3,000 in funds to avoid eviction. If you need more than that, you should explore other rental assistance options.
What Kinds Of Rent Assistance Are Available In Atlanta?
You may be wondering what kind of assistance is available to tenants in Atlanta. Here are the different types of aid you can get:
- Rent Payment Assistance
- Utility Assistance
- Security Deposit Assistance
What Are The Eligibility Requirements For Rent Assistance In Atlanta?
To get help with your rent in Atlanta, there are some eligibility requirements you need to meet before you can apply for consideration. They include:
- You must be a resident of Atlanta
- Your gross household income must not be more than 60% of the HUD 2020 Atlanta-Sandy Springs-Roswell, Georgia Metro Area Median Monthly Income Limit as shown in the chart below.
Household Size Annual AMI (60% of AMI) Monthly Income 1 $34,740 $2,895.00 2 $39,729 $3,310.80 3 $44,700 $3,725.00 4 $49,620 $4,135.00 5 $53,640 $4,470.00 - Access the Atlanta Rental Assistance Application at unitedwayatlanta.org
What To Do If You Need Help With Your Application
If you need help filling out your application or have questions, you can visit http://211online.unitedwayatlanta.org/ to get some assistance. Call 2-1-1 to speak with a live 2-1-1 Community Connection Specialist between the hours of 8 a.m. and 7 p.m. Monday through Friday.
Final Thoughts
You should know that you’ll be required to verify your financial situation by providing documents. The whole application process, from beginning to end, should take you about 15-20 minutes to complete.
At the end of the application you will be required to upload documentation to prove your identity, your income, the loss of income caused by the pandemic and the amount of your need based on past due bills or a move-in deposit. Until that point in the application..
If you’re interested in finding a place to rent in Atlanta, here are some steps to follow.
More Articles From AtlantaFi.com:
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A new workspace, CommonGrounds, recently opened in Atlanta, according to a news release.
The new 49,506 square-foot office is the company’s first foray on the East Coast.
Where Is CommonGrounds Workspace Located In Atlanta?
The CommonGrounds Workspace is located at 999 Peachtree Street NE. Here’s a map to help you find it.
“Our Midtown Atlanta workplace meets the needs of companies that are expanding in Atlanta and looking to take advantage of our enterprise-grade Space-as-a-Service platforms,” said Jacob Bates, Chief Executive Office for CommonGrounds Workplace.
CommonGrounds Workspace is situated in 999 Peachtree, a 28-story building with awesome views of the Midtown Atlanta skyline. Here are some of the amenities included in the building:
- Roof deck
- Fitness Center
- Peachtree Club restaurant
Some of the best restaurants in Atlanta are located in Midtown. Check out our guide to the best Midtown Atlanta restaurants.
And don’t miss the best things to do in Midtown Atlanta.
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.
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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This article is reprinted with permission from Redfin.com.
Housing Market Trends
The median sale price of homes in Atlanta is $322,000, with an average of 50 days on
the market and homes selling for 2.3% under list price. The typical down payment
hovers around 12.9 percent. Compare these prices and view trends in the real estate
industry using the US housing market page. Click here to compare these prices to
the US Housing Market.The Atlanta housing market is considered somewhat competitive, with a Compete Score
of 59 out of 100 according to Redfin’s Compete Score. Compete Score rates how
difficult it could be to buy a home in a certain area. In Atlanta, homes sell for about 2%
below list price and will have a pending offer around 50 days.What are the Most Popular Neighborhoods in Atlanta?
These are the top 10 most popular neighborhoods in Atlanta based on the total views
from real estate customers over the past year. Read more about the most popular neighborhoods in Atlanta or view homes for sale in each of these neighborhoods below.Neighborhood Average Home Price
Neighborhood Average Home Price Buckhead $496K Midtown $332K Grant Park $480K Virginia Highland $507K Inman Park $503K West End $293K East Atlanta $398K Morningside Lenox-Park $601K Old Fourth Ward $270K Ormewood Park $426K What are the Most Affordable Neighborhoods in Atlanta?
These are the most affordable neighborhoods in Atlanta based on the median home
price in each area where at least 20 homes have been sold in 2020. Read more about
the most affordable neighborhoods in Atlanta or view homes for sale in these
neighborhoods below.Neighborhood Median List Price
Neighborhood Average Home Price Pittsburgh $150K Southside $149K Glenwood Hills $170K Venetian Hills $173K Glenrose Heights $177K Southwest Atlanta $181K Sandy Springs $183K Collier Heights $200K Grove Park $220K McAfee $224K Which Atlanta School Districts are the Best?
GreatSchools' Summary Rating calculation is based on four of the school's themed
ratings: Test Scores, Student/Academic Progress, College Readiness, and Equity. Find
out more about the themed ratings.Elementary School: With a rating of 10/10, Oakhurst Elementary School, located in
Decatur, is the top elementary school in Atlanta. Oakhurst has 544 students enrolled,
making up grades preschool through third. Oakhurst has top scores in equity with 9/10,
and test scores with 10/10.Middle school: Inman Middle School, with 1,075 students, grades six through eight,
holds the number one spot for middle schools in Atlanta with a score of 8/10. Inman
also has top test scores, rating 10/10.High school: Decatur High School, grades 9 through 12, is the number one high school
in Atlanta, with a score of 10/10 for college readiness, and 9/10 for test scores. Decatur
High School has a population of 1,339 students.Atlanta Employment Information
Employment Information (March, 2020) Atlanta, GA United States Income per Capita $40,595 $31,177 Household Income $51,701 $57,652 Unemployment Rate 4% 3.70% Recent Job Growth 2.88% 1.59% Future Job Growth 46.78% 33.51% Living in Atlanta
What is There to Do and See in Atlanta?
If you’re moving to Atlanta, you’ll quickly realize that there is no shortage of things to do.
Whether you’re a history buff, a food connoisseur, a thrill seeker, or simply enjoy theoutdoors, there’s something for you. Read more about local insights on great
restaurants, attractions, and outdoor activities.Atlanta Attractions
- Georgia Aquarium: With over 100,000 animals it’s no wonder the Georgia
Aquarium is considered one of the largest in the United States. - High Museum of Art: Founded in 1905 and located in the city’s art district,
Midtown, the High Museum of Art collection includes over 15,000 pieces. - The Zoo Atlanta: Spend the day learning about various animals from all different
regions of the globe, including the African Elephant, African Lion, Bornean
Orangutan, and the Clouded Leopard.
Best Eats in Atlanta
- Busy Bee Cafe: Located in downtown Atlanta, the cafe has been popular among
residents since opening in 1947, bringing customers traditional soul food in a
cozy environment. - Southern City Kitchen Midtown: Situate yourself by the fireplace in the 1920s
bungalow and enjoy the creative approach Southern City Kitchen Midtown takes
on classic Southern cuisine. - Poor Calvin’s: Enjoy thai cuisine with a southern twist at this modern and
intimate fusion restaurant.
Outdoor Activities
- Atlanta Botanical Garden: Escape the city and visit this 30-acre garden oasis,
located in the heart of Midtown. Spend time wandering through the different
gardens, including the Edible Garden, the Lou Glenn Children’s Garden, and the
Cascades Garden. - Centennial Olympic Park: This park dates back to 1996 where spectators of the
Centennial Olympic Games would gather. You can escape the hustle and bustle
of the city in this 22-acre park filled with artwork, playgrounds, and fountains. - Atlanta Beltline Eastside Trail: Ride your bike or walk along the Atlanta Beltline
Eastside Trail and take in views of the city, stop and grab a bite to eat at a
restaurant along the trail, and access several parks easily, including the
Piedmont Park, Fourth Ward Park, and Inman Park.
Atlanta Weather Trends
Type Atlanta United States Rainfall 51.5 inches 38.1 inches Snowfall 1.4 inches 27.8 inches Precipitation 109.3 days 106.2 days Sunny 217 days 205 days Average July High 88.3° 85.8° Average January Low 32.6° 21.7°
What is Atlanta’s Public Transportation Like?
Transportation in Atlanta ranks 15th in the country for best public transit systems. There
are many options for transportation, including by car, MARTA Public Transit System,
streetcars, rideshare services, walking, and biking. You’re able to find routes and
information for public transit through the MARTA website, and information for cyclists on
the Atlanta Bicycle Coalition, site.How are the Traffic Conditions in Atlanta?
Because of the city's growing popularity, Atlanta’s traffic trends have seen better days.
And, like any bustling city, there are times of the day you’ll want to avoid driving or
commuting if possible. If not, make sure to plan ahead and be prepared for a slight
delay. According to TomTom, the best time to avoid commuting on weekdays is 7 a.m.
to 9 a.m., and 4 p.m. to 7 p.m. Depending on the day of the week, the trends may differ
slightly. For example, Thursday seems to be more congested from 5 p.m. to 6 p.m. than
other days of the week. However, no matter the day, the traffic in the evening seems to
be slightly more congested than during the morning commute.Atlanta Moving and Real Estate
Resources
Moving Companies: Atlanta Home Movers, Top Dawg Moving, Bring it! Movers, Mark
and Mover, B&B Movers, Inc..
Storage Companies: Life Storage, Your Extra Attic, Cross Country Movers, Atlanta
PRO Moving Services, CubeSmart Self Storage.
Cable Services: AT&T, Xfinity, HughesNet, Viasat.
Water and Sewage: Atlanta Watershed Management. - Georgia Aquarium: With over 100,000 animals it’s no wonder the Georgia
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The color of your skin can dictate where you live in America, according to findings from the Pew Center for Research.
In Atlanta, like many other areas, you can’t help but notice some areas are heavily populated by one race, even though its features are similar to other areas of town.
Over the past 30-plus years, residential segregation by income has skyrocketed nationwide, the Pew Center said in an analysis on the top. The issue is especially pronounced in 27 of the nation’s 30 largest major metropolitan areas.
The institution analyzed housing patterns and incomes in large metropolitan areas to arrive at the figures. Atlanta makes the top 10 on the list.
Here Are The Top 10 Most Racially Segregated Metro Areas In America
The study concludes that housing patterns are largely shaped by income inequality. which has led to fewer neighborhoods of mixed income or middle class.
The study said key differences separated the cities on the list. For instance, the study noted:
“For example, 41% of the lower-income households in the New York metropolitan area are situated in a majority lower-income census tract, compared with 26% of the lower-income households in the Atlanta area.”
To quantify the cities, the Pew Center devised a single Residential Income Segregation Index (RISI) score for each of the nation’s top 30 metropolitan areas.
Atlanta had a 41 RISI score among the nation’s 10 largest metro areas, which was on the lower end. Houston (61) and Dallas (60) have the highest RISI scores, followed closely by New York (57). At the other end of the scale, Boston (36) and Chicago (41).
Other studies indicate that residential segregation is a key metric in health disparities across the country.
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. More definitive advice on health, please visit CDC.gov. Here are some helpful links:
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If you live in a big city like Atlanta or another area where real estate prices are going through the roof, it may be tempting to relocate to a cheaper area.
After all, the pasture always look greener on the other side. Furthermore, big cities have made it cool to live in large homes.
But big homes often mean big mortgage payments, so it may be time for you to make an adjustment to keep your mortgage from eating your paycheck.
Downsize Your Home
If you don’t have a family, it may make sense to downsize your home. Not only will the mortgage payments be easier to handle, but you may be able to the equity in your big home to add to your savings.
Other benefits to downsizing include:
- Lower energy bills
- Less maintenance
- Less financial stress
So many people believe moving to a cheaper city or state is going to make a difference, but the reality is that if you have a decent job, maybe you shouldn’t relocate.
Here are three other options that can help you downsize fast:
1. Set Goals
Re-align your financial goals based on where you want to be, not where you are now. Do you still need the amenities you bought the phone for? Do you still use that pool or sauna?
2. Refinance
Mortgage rates are approaching low levels again, and that makes a refi very attractive to people who have huge monthly payments.
3. Re-Invest Your Equity
If you’ve been in your big home for a nice period of time, it’s likely that your home has appreciated to the point that you have a pretty large nest egg inside of it.
Instead of continuing to pay that big mortgage, find a cheaper home in the same area or city and use that equity for the downpayment.
Better yet, you could use that equity to invest in a retirement fund like a 401(k).
Interested in other ways to save or make money? Check out our Money Section:
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The Atlanta area saw a double-digit percent increase in foreclosures over the last year, according to findings from a recent report.
Property data provider ATTOM Data Solutions’ Year-End 2019 U.S. Foreclosure Market Report shows that foreclosure filings in 2019 decreased in most cities — but not Atlanta.
Report: Foreclosures Up In Atlanta
Default notices, scheduled auctions and bank repossessions were reported on 493,066 U.S. properties in 2019, which is a 21% decrease from the previous year.
The new figure is also down 83% from a high of nearly 3 million in 2010.
Here are the big cities that saw a double-digit increase in foreclosures:
- Baton Rouge, Louisiana (43%)
- Atlanta, Georgia (up 25%)
- Salt Lake City, Utah (up 17%)
- Orlando, Florida (up 16%)
- Portland, Oregon (up 16%)
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.More Articles From AtlantaFi:
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Atlanta, especially Fulton County, is among places where it’s most affordable to rent rather than buy a home, according to a new study.
That’s not the case in other areas: Buying a home is more affordable than renting one in most metropolitan counties analyzed in a new survey.
Cheaper To Rent An Atlanta Home, Study Says
Figures from Attom Data Solutions‘ 2020 Rental Affordability Report show that owning a median-priced, three-bedroom home is more affordable than renting a three-bedroom property in 53% of the U.S. counties analyzed for the report.
Among counties with a population of 1 million or more, those most affordable for renting are:
- Allegheny County (Pittsburgh), PA (24.3%)
- Cuyahoga County (Cleveland), OH (25.6%)
- Fulton County (Atlanta), GA (26.2%)
- Oakland County, MI (outside Detroit) (26.6%)
- Wayne County (Detroit), MI (27.5%)
But those areas were the exception. In 455 of the 855 U.S. counties surveyed, the numbers showed that it’s cheaper to buy a home than rent one.
The analysis highlights a split between different-sized markets, with ownership more affordable mainly in lightly populated counties and renting more affordable in more populous suburban or urban areas, the study says.
“Home ownership is a better deal than renting for the average wage earner in a slim majority of U.S. housing markets. However, there are distinct differences between different places, depending on the size and location from core metro areas,” said Todd Teta, chief product officer with ATTOM Data Solutions. “For sure, either buying or renting is a financial stretch or out of reach for individual wage earners throughout most of the country in the current climate. But with interest rates falling, owning a home can still be the more affordable option, even as prices keep rising.”
Last Thought
In 94, or 69%, of the 136 counties in the report that have a population of at least 500,000 or more, renting is more affordable than buying a home.
You may be wondering what it takes to buy a home in Atlanta, as the forecast for this year predicted, prices in certain areas are increasing. But that doesn’t mean you can’t find a nice home in metro Atlanta.
The first step in the process is to get pre-qualified for a mortgage.
There’s also ample opportunities to rent your home for cash. Keep up with what’s going on in Atlanta’s real estate scene on our Real Estate page.
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Atlanta real estate is experiencing some of the highest price hikes it has ever seen, especially on the south side. Now a new report says the city will have one of the hottest housing markets of 2020.
Normally, real estate experts drool over West Coast housing markets, like those in California and even Arizona and Nevada, but this year will shape up to be different.
Atlanta Among Hottest Real Estate Markets For 2020
According to a Zillow panel of experts, cities like Austin and Atlanta’s housing market is most expected to outperform the national average.
Home values are expected to grow by 2.8% in 2020, according to more than 100 economists and real estate experts surveyed by Pulsenomics and Zillow panelists.
The panel assigned scores to cities to show where the growth would likely occur. Here is a sample of results.
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- Austin: 76
- Charlotte: 59
- Atlanta: 51
- Nashville: 49
Unlike the other 24 markets that were analyzed, Charlotte was the only one that no panelist said it would underperform this year.
“Having subjected buyers to a crucible of fierce competition for multiple years, many West Coast markets hit an affordability ceiling that set off declining home values in the most expensive of these,” said Skylar Olsen, Zillow’s director of economic research.
“Indeed, this price correction— a clap back from having appreciated with too much exuberance in the recent past — pushes many previously hot markets to the bottom of our experts’ list. At the top of the list are metros still providing relative affordability and thriving, amenity-rich communities that appeal to younger adults willing to make a move. These features, plus the ability to grow and add housing in the future, are attractive propositions for employers and employees alike.”
Here Are The Hottest Real Estate Markets For 2020
Many panelists expect home values in San Jose and San Francisco to continue falling in 2020, and some expect more markets in California to join them. Sixteen panelists out of the 42 that selected at least one metro said home values will fall in Los Angeles, and twelve said the same about San Diego and Riverside.
U.S.
Metropolitan
AreaShare Expecting
Market to Outperform
National AverageShare Expecting
Market to Perform
About the Same as
National AverageShare Expecting
Market to
Underperform
National AverageNet
ScoreAtlanta
63%
25%
12%
+51
Austin
83%
10%
7%
+76
Charlotte
59%
41%
0%
+59
Cincinnati
12%
42%
46%
-33
Columbus
21%
46%
33%
-12
Dallas
49%
36%
15%
+34
Denver
55%
23%
22%
+33
Houston
32%
46%
22%
+10
Jacksonville
36%
40%
24%
+12
Las Vegas
41%
24%
36%
+5
Los Angeles
20%
25%
55%
-35
Miami
29%
34%
37%
-8
Minneapolis
23%
58%
19%
+4
Nashville
59%
31%
10%
+49
Oklahoma City
18%
48%
34%
-16
Phoenix
46%
42%
12%
+34
Portland
31%
40%
29%
+2
Riverside
21%
32%
47%
-26
Sacramento
21%
28%
52%
-31
San Antonio
44%
44%
12%
+32
San Diego
25%
37%
39%
-14
San Francisco
24%
12%
64%
-40
San Jose
23%
16%
61%
-38
Seattle
40%
21%
40%
0
Tampa
38%
53%
9%
+29
How is The Real Estate Market In Atlanta, Georgia?
The real estate market in Georgia’s largest city is driven largely by a population and economy boom that shows no signs of ending.
Coming out of the Great Recession, Atlanta was a buyer’s market up until around 2015. That’s when it began to show all the signs of a strong seller’s market, meaning that homeowners could would be able to enjoy pricing leverage compared to the inventory.
In 2020, Atlanta is not quite a seller’s market, but is in between buying and selling, which makes for a full-on healthy real estate landscape. Can you still find real estate deals? Yes, but they are becoming less plentiful.
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.
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