Atlanta Housing Market Updates--2013 (low income, section 8, apartments)

[sjuraud]

Originally Posted by sirrob

Yep...Looks like about 80% of the houses that I'm searching for online in my price range (75-100K) in east metro are under contract/pending approval, etc...

Just curious if you are meaning East Metro as in Fulton Co. (Edgewood, Kirkwood, East Lake, etc.), or if you are referring to farther out on the DeKalb Side (City of Decatur, Decatur Unincorporated, Avondale, etc.)? Thanks!

[cqholt]

Just curious if you are meaning East Metro as in Fulton Co. (Edgewood, Kirkwood, East Lake, etc.),

None of those neighborhoods are in Fulton County. All are in City of Atlanta in DeKalb County.

[sjuraud]

Originally Posted by cqholt

None of those neighborhoods are in Fulton County. All are in City of Atlanta in DeKalb County.

Yep, thanks for the correction! I keep making the mistake that the county borders between Fulton & DeKalb are a straight line while the City of Atlanta juts into DeKalb Co. My question still remains though, as some people only refer to the "Atlanta Metro" as actually the city borders of "Atlanta" and not anything past the City of Atlanta in DeKalb County. Since I've lived mostly in neighborhoods off of Memorial Drive in DeKalb Co. ITP (Scottdale, Oakhurst, Belvedere Park) is why I've asked for clarification on which neighborhoods are rebounding in the RE market on the East side.

[cqholt]

Kirkwood, East Lake, East Atlanta, or course anything in Decatur.

[K-SawDude]

Metro Atlanta home prices continue to rise | www.ajc.com

Home prices in metro Atlanta continue to push higher, mainly because fewer homes are being listed for sale, according to a monthly Re/Max National Housing Report.
The median price for homes sold in metro Atlanta in March was $150,500, which was up 11 percent from February and 42 percent from March a year ago, Re/Max said. The real estate company surveyed 52 metro areas using Multiple Listing Service data.
Metro Atlanta’s housing industry has had to make up more ground than many other metro areas hit hard by foreclosures and a housing glut. The MLS data show the metro area led 19 metropolitan areas in reporting double-digit price increases year over year. Atlanta was followed by San Francisco (up 41 percent), Las Vegas (33 percent) and Phoenix (29 percent)....
“Home sales remain strong, and rising prices are a positive trend, but the shrinking inventory is starting to be a concern,” Kelly said in releasing the MLS data. “Hopefully, higher prices will result in more homeowners gaining increased equity and feeling comfortable putting their home on the market.”

42% is a huge jump over last year.

[Atlwarrior]

Make sure you get those home inspection. I was in Contract but had to come out as the investor who had flip the home, made it look so good inside. However the home had roofing, plumbing, electric, and foundational issues.

[FromGA]

Originally Posted by K-SawDude

Metro Atlanta home prices continue to rise | www.ajc.com

42% is a huge jump over last year.

It can be partially because people are putting higher end homes up for sale after years of wait. That would push the median price of homes sold.

Case Schiller index is the only on that tracks multiple sales of the same property.

[sirrob]

Originally Posted by sjuraud

Just curious if you are meaning East Metro as in Fulton Co. (Edgewood, Kirkwood, East Lake, etc.), or if you are referring to farther out on the DeKalb Side (City of Decatur, Decatur Unincorporated, Avondale, etc.)? Thanks!

East OTP. Tucker, Lilburn, Stone Mountain...

[noah]

I have not doubt that is part of it. In the past few years most homes sold were at the lower end which brought the medium home price down to an artificially low level and now there is a lot of pent up demand being unleased in the medium and higher price ranges -- regardless, it is still a great number.

Originally Posted by FromGA

It can be partially because people are putting higher end homes up for sale after years of wait. That would push the median price of homes sold.

.

[FromGA]

Originally Posted by noah

I have not doubt that is part of it. In the past few years most homes sold were at the lower end which brought the medium home price down to an artificially low level and now there is a lot of pent up demand being unleased in the medium and higher price ranges -- regardless, it is still a great number.

Yes. I was just wanting to make sure that someone did not read it, and came to the incorrect conclusion that home prices in metro Atlanta are up 42%. The article does not clarify this to the lay user.