Atlanta real estate
Atlanta is the capital city of the State of Georgia in the USA. It is the most populous city in the state, located in the ninth most populous metropolitan area in the country. The city has a population of nearly 500,000 and is witnessing a rapid growth in recent times. The construction industry is thriving. New areas are coming up and old locations are being restructured, with many high-rise condominiums towering the skyline.
There is a steady increase in the demand for residential and commercial properties in the area. Atlanta is the county seat of Fulton, with some areas spreading into Clayton and DeKalb counties. A major attraction of the city is its greenery. It has the distinction of being a 'Green Urban Forest', credited with having the most number of trees among all the cities in the US.
Atlanta Real Estate
There are many reputed real estate agencies in Atlanta that give studied and accurate information concerning residential and commercial properties. They also provide many allied services which include information on rentals, mortgage, home loans, insurance, etc. They are instrumental in negotiating the best terms for buyers and sellers. Most of the prominent agencies are listed on the internet. They include Harbourtown Real Estate, Atlanta Executive Homes, Atlanta New Home Search, Atlanta Intown, Atlanta Condominiums.
The different real estate segments in Atlanta are generally active, especially in the residential areas where buyers purchasing their first homes and those shifting to more high priced locations are most evident. New houses in the town area are not as popular as existing homes, mainly because sellers have become more practical regarding pricing of old homes. Units below $450K are being picked up almost as soon as they come into the market. Top real estate developers are investing in locations with good potential for residential complexes. The market has been growing rapidly and now the supply and demand ratio is almost evenly balanced, with the rate of appreciation holding steady at around 5% for the last few years.
The present low interest rates encourage investors to make purchases quickly. Competition between home loan financiers is increasing and mortgage rates are being lowered. While small families are concentrating on residences in the $100K to $200K scale, investments in the $200K to $300K range also are attracting many prospective clients. Taxation stands at around 1% per year. The rental rates are also conducive for good returns on investment, with rents around $1,250 and upward. The multi-family and lodging segments are also doing very well.
Locales
The area attracting the most attention in Atlanta appears to be Buckhead along with North Central and Midtown. This can be attributed to the commissioning of the Georgia 400 extension, which has directly increased the demand for office space and, consequently, commercial construction. The Tower Place office block is being renovated at a cost of about $12 million. Buyers looking for less expensive locations can find them in the interior areas of downtown Atlanta beyond Woodstock, Marietta and Lawrenceville.
Conclusion
City officials in Atlanta have been managing the rapid growth very well. Most metropolitan areas find it difficult to cope with rampant expansion and the resultant chaotic conditions. But Atlanta is being projected as a well planned city which should serve as a model for other cities. It is being rated among the best cities for family living conditions. From being a major city in a local region, it is fast reaching the status of cities like Dallas and Miami as an internationally accredited metropolis.
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