Atlanta is rated #10 in the top 10 markets of "where to buy now" with a predicted increase of 24% in five years!
It is also currently #10 in the top 10 foreclosure markets.
National median price of a house in the US is about $245K
Median price in Atlanta area for 2006 was $173K and predicted to be $214K by 2011.
These statistics were provided by CNNMoney.com and the article can be viewed by clicking here.
I moved here back in March of 2007 and immediately what I noticed is that Atlanta and the metropolitan area reminded me of how Chicago and its suburbs were some 15 years or so ago. You can still purchase a home that's within a 30-45min commute to the heart of the city for under $300,000...this is nearly impossible to do in the Chicagoland area. I was watching the news last night and to no surprise Atlanta is rated as having the second worst traffic in the nation...losing only to Los Angeles. Atlanta lacks the infrastructure that Chicago and many other large cities have. Public transportation throughout the city is very limited and do not reach far into the burbs. If the city has the growth it is expected to have and no action to the roadways is taken the city could be in serious trouble. The Georgia Toll Authority has proposed a plan to alleviate traffic which includes a high occupancy toll (HOT) lane along a particurlary congested section of the I-85 highway running northeast from the city's center. To read more click here.
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