Info on Atlanta?

Question

We may be relocating to Atlanta in the near future.  What is the market like?  Per case-shiller, core logic, etc., it's still dropping.  I was wondering about Buckhead.  This is where I think we'd buy because of what I have heard about it (the place to live!).  Anyone know that market?

Joel Owens · Answer

It's all relative to where you want to buy in Atlanta.

There are nice places and then there are s##t holes just like any other place.

Buckhead is nice but has a very inflated and saturated condo market.

Roswell,Alpharetta,Johns Creek,etc. all have nice areas.

Cheryl I would imagine compared to Washington D.C. pricing you could buy a mansion cheap down here in a very nice area.People moving from New York,D.C.,California etc. are always amazed what they can buy for the dollar here.

So I think you will have plenty of choices and be fine.

Charlie Helper · Answer

I was just at an Xmas party discussing the Atlanta market with a big distressed buyer.  He had advised me to stay away (amateur investor I am) saying there was just too much turmoil currently and really it could go either way.  If you are moving there it's one thing but is buying the right time necessarily?  Seems though after just peeking on realtor.com you could buy an entire street, block, or neighborhood in some places - gate it - renovate it - and if your time frame was long enough make a killing.

J Scott · Answer

I'm certainly no expert on the in-town market, but happy to help as much as I can.  Funny thing is, I know Northern VA (where you are now) like the back of my hand...I lived in the D.C. metro area for 15 years...

Tivon J. · Answer

Hi Cheryl,

I'm new to the Atlanta area also. I've been here only a few months. I'm also a newbie when it comes to real estate investing :-) [solicitation removed]

Cheryl C. · Answer

Hi Tivon,

I've been in Northern Virginia for 30 yrs, so I know less about that market than you do.  I will be looking for some REI friends, so thank you for responding.

Cheryl C. · Answer

Thanks J., I'm glad to have your advice and appreciate it.  I'll know within a week or so.  Do you mind if I pm you on some specific places?  This will be our home.

J Scott · Answer

Hi Cheryl,

Like any major metro area, the market is going to be different from one zip code to another, and the suburbs are certainly different than the city, etc.  Parts of Atlanta are great for buy-and-hold, parts are great for flipping, and parts have so much inventory that it would be difficult to flip or to cash flow right now.

Buckhead is one of the nicer areas of the city, and if you're looking for a place to live, and like having access to the better bars and restaurants within walking distance, then Buckhead is a great location.  Prices in Buckhead have dropped substantially over the past 5 years, but have leveled-off in the past year (from what I can tell).

If you have other specific questions, I may (depending on the specific area) be able to help...