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Undoubtedly if you have turned on the news in the past year you have heard that we are in a down market. I'm not sure about "THEM" but I for one do not see it. I see a slow down in some rural areas here, but the Atlanta Market has never been hotter.
I recently had a discussion with a client where I explained the Atlanta market to him. He seemed to think we were getting all the people from the other areas. While that is certainly true, I finished up 06 with over $3 Million in agreements with folks to buy homes that weren't able to sell their home where they live. So they at least will not be coming to Atlanta.
So what keeps Atlanta afloat? Great Values, Job Opportunities and a constant rotations of new blood.
Our appreciation rates are relatively low in most areas, but you'll have a difficult time finding an area in decline. Atlanta is like a train, it's just chugging very slowly. You can still find a 3000 SQFT home for $250K in most metro areas.
Job Opportunities abound! New companies pop up every day and long standing companies are always looking for qualified people. The education and patient care fields are booming!
Atlanta is also a hub for training. Walmart, Publix, Home Depot, Bellsouth and more will open stores or use profitable stores as training grounds for their "chosen." They'll ship in the family to Atlanta to train or right a ship and then ship them back out.
Foreclosure rates have also been very high, but this is not new. Many of those buyers, the ones who actually stay, move up to nicer homes. While new home buyers have a vast assortment of affordable housing.
What's not to love about Atlanta, aside from the traffic.
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