This article states says that for the 10th straight year, Georgia is ranked as the best for business! That’s 343,650 new jobs in the past 10 years for only the projects that the state was involved in. In our areas, we’ve seen larger companies come into and create jobs: 2500 in Cartersville and Calhoun with a solar panel manufacturing plant (along with 500 supporting jobs) and dozens of others in Cherokee County and the surrounding areas. See some interesting facts and stats on Cherokee here. Of course, Cobb County, Alpharetta, and Bartow County have seen similar growth.
More jobs mean economic vitality and increased housing needs which keeps housing values increasing and rental properties occupied at increasing prices. Driving around I’m amazed and the new housing developments, commercial centers being built, and improvements to parks and greenspace. Here are 7 reasons to be thrilled if you own or are looking to buy property in our areas:
1. Increased demand for rental properties: When new businesses open or existing ones expand, they bring in new employees who need housing leading to an increased demand for rental properties. Increased demand and low supply = rising rental rates.
2. Enhanced property values: As more people move to the area for work, the demand for housing tends to rise. This increased demand can drive property values higher, allowing real estate investors to potentially realize capital appreciation on their investments.
3. Diversification of tenant pool: New jobs can attract a diverse range of professionals and workers to an area. This can help diversify the tenant pool for real estate investors, reducing the risk associated with relying on a single type of tenant or industry. A diverse tenant pool can make it easier to find and retain tenants, even during economic downturns.
4. Economic stability: Job growth contributes to economic stability in an area. A thriving job market can lead to increased consumer spending, which in turn can create and support local businesses and services -existing and new.
5. Attracting commercial tenants: As more businesses open or expand, there may be a greater demand for commercial real estate, including office spaces, retail properties, and industrial spaces. Real estate investors who own these types of properties can benefit from the increased demand for commercial tenants.
6. Development and infrastructure improvements: When an area experiences job growth, improvements can include the construction of new roads, schools, healthcare facilities, parks, and retail centers, which can enhance the overall quality of life in the area and make it more attractive to potential renters and buyers.
7. Reduced vacancy rates: New jobs can lead to reduced vacancy rates for residential and commercial properties, which can help real estate investors maintain consistent rental income. Lower vacancy rates can also reduce the need for concessions or incentives to attract tenants.
While job growth can provide opportunities for real estate investors, it’s crucial to conduct thorough market research and due diligence to assess the potential benefits and risks associated with a particular investment opportunity. This is what we do and we’re happy to share.
Our Local Market Report – because it’s all Local
In the snapshot of “Year over Year Price,” we have a surprisingly rising market with home values up 7.95% in the area we love to work in. But the number of sales is down over 13%. 919 sales a year ago, 826 this year (and we expect to see this drop even more as pendings are down due to the spike in interest rates.). What’s the opportunity? If you have cash (or access to cash through equity) then you have more options to buy today than a year ago.
With national pundits saying more people are going to decide to rent instead of selling (those low interest rates and large chunks of equity make renting and the corresponding cash flow attractive) median sales prices are still predicted to grow for each of the next 5 years.
As always for the best information let us prepare a professional pricing analysis for your property – we’ll use our actual experience and intelligence to determine your property’s value. We are happy to spend a few hours putting one together for you and your unique property.
Property Management Question we are often asked:
What Value does Northwest Atlanta Property Management provide?
We charge 75% of the first month’s rent and 8% a month thereafter.
1. Expertise and Local Knowledge: We have a deep understanding of the local real estate market, rental laws, and property trends. We can provide valuable insights and guidance to help you make informed decisions about your property.
2. Time Savings: Managing a rental property can be time-consuming, with tasks like tenant screening, maintenance, rent collection, and property inspections. We can handle these responsibilities on your behalf, allowing you to focus on other priorities.
3. Tenant Screening: We have over 40 years of experience in screening and selecting reliable tenants. We can help you find responsible renters who are more likely to pay rent on time and take good care of your property, reducing the risk of issues down the road.
4. Marketing and Advertising: We can effectively market your rental property to attract prospective tenants at no additional cost to you. We use various advertising channels, including online listings, to maximize visibility and minimize vacancies.
5. Maintenance and Repairs: We have a network of contractors and maintenance professionals who can promptly address maintenance issues. This ensures that your property remains in good condition and that tenants are satisfied. We charge nothing extra for overseeing repairs/
6. Rent Collection: We handle rent collection, which can be especially beneficial in ensuring consistent and timely rent payments. We enforce lease terms, including late fees when necessary.
7. Legal Compliance: Rental property laws and regulations can be complex and subject to change. We are well-versed in these laws and can ensure your property complies with local, state, and federal regulations and we attend regular trainings to ensure we stay up to date.
8. Emergency Response: We often have protocols in place for handling emergencies, such as repairs or tenant issues, 24/7. This can give property owners peace of mind, knowing that any urgent matters will be addressed promptly.
9. Financial Management: We handle financial aspects, including budgeting, accounting, and providing regular financial statements. This can help you maintain control over your property’s financial performance.
10. Tenant Relations: We can act as a buffer between landlords and tenants, handling communication and addressing tenant concerns, which can reduce conflicts and stress for property owners. This creates happy tenants that stay in your properties.
11. Property Inspections: Regular property inspections can help identify maintenance issues early, minimizing expenses and ensure that tenants are adhering to the terms of their leases.
12. Maximizing Rental Income: We help you set competitive rental rates and adjust them as market conditions change, thereby maximizing your rental income.
We provide all this and more – see the details at our website
Local and Fun Stuff – Click on the Links!
The Ultimate Go Carting Experience
We love Gibbs Garden
Spooky Short Stories Presented by the Cherokee Theatre Company
Paranoia Haunted House
Cartersville Downtown Alive!
Halloween Trail of Tricks and Treats – 10/31 at 5:00 p.m. 232 Arnold Mille Road Woodstock. 1.4-mile trail with music games, candy, and crafts.
Denim Fest – 10-27 and 10-28 The Mill at Etowah – trick or treating, BBQ, denim jacket contest, live music, and more. Noon to 10:00 p.m.
We continue to appreciate your business and referrals to us, thank you.
You might notice from our signature below that our son Matthew Stott has joined us in the business having graduated from UGA (Go Dogs!) with a business degree from Terry College of Business. We are thrilled to have him and grateful to continue another generation of Stott’s serving Sellers, Buyers, and Investors for many years to come.
We are grateful for your support of our family business.
Mike and Donna Stott, Jon Burke, and Matthew Stott