According to a September 17th AJC article, the speed of the metro Atlanta housing recovery will depend on the area of town. I found this quote in the article very interesting:
Areas that were on the suburban fringes of the housing boom in 2006 and 2007 are going to struggle longer with lowered home values and a slow resale market, one expert said.
“You don’t see as many problems in north Fulton because it was already built out and it was relatively expensive for builders to go in and buy large tracts of land and put a lot of homes there,” said Mark Vitner, managing director and senior economist for Wells Fargo in Charlotte.
“So essentially the areas that had the most problems are the areas where it was the easiest for builders to go and quickly put up a lot of homes.
I had touched on this very subject of huge, new-home, suburban Atlanta inventories in a March 7th post I made on this website. The post, Benefits of Buckhead Real Estate, focused on the limited availability of lots for spec homes in Buckhead.
Specifically, I mentioned:
The suburban areas of Atlanta still have empty lots, especially as you get up into Alpharetta and Forsyth county. It was much easier to overbuild single family homes in the far north areas of metro Atlanta.
I think Buckhead real estate is currently a great value and would be happy to show you some homes in the North Atlanta area.
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