8. Atlanta 8 of 10 Median home price in 2012: $122,000 Projected home price in 2015: $164,253 Projected annual rent in 2015: $12,255 A knotty foreclosure problem has plagued Atlanta's housing market, with thousands of vacated homes weighing on home prices. In March, the city recorded a 17.7% drop in home prices, the largest 12-month decline of any of the 20 cities covered by the S&P/Case-Shiller home price index. Displaced former homeowners have helped push rents 12% … [Read more...]
My ex-tenants owe me money – what do I do now?
Traditional collection agencies are complicated, time-consuming and keep 35% of what they collect. A lower cost option is a service we provide through the credit reporting agency we use. For $35 each debtor a national collection agency will send a series of letters (including one from an attorney) that shows those money-owing tenants you mean business. When they pay you keep 100%!!!! And if they don't the service will report the debt to all three major credit bureaus. This may hurt their … [Read more...]
Why Buy an Investment Property in Atlanta Now?
Many, many comments on yesterdays post asking for more information on why buying an investment now is so attractive. It's simple - our prices are low, our rents relatively high and the historically low interest rates mean carrying costs are very very low. For example: Say you find a home for sale at $100,000 that would rent for $100 a month. Property taxes would be approximately $100 a month and property insurance would run $75 a month. With $25,000 down the mortgage would be $75,000 and … [Read more...]
Rents Are Rising in Northwest Atlanta – time to buy an investment?
Not a lot but we are starting to see an uptick in rental rates. $25 to $50 a month in many cases. We're also seeing a dichotomy in tenants. With lenders making it very hard to get a loan we are seeing tenants with strong careers and great salaries unable to obtain a mortgage. These families make fantastic tenants. They pay their rent on time and they treat your home as if it were their own. The trend for these ten ants are typically 4 or more bedrooms and they want to be ion our good … [Read more...]
When is it the right time to Divest?
The market in Atlanta is picking up - if you're thinking about selling - NOW may be the best time espeically if you're planning on buying a larger property. It's also time to plan out the Fall and Holiday seasons! Now is the time to map out the seasonal home maintenance like HVAC check, caulking around windows and doors, touch up painting, clean out gutters and plan on the fall yard plantings. Make your bigger holiday plans and set up the reservations or invite the guests to give everyone … [Read more...]
