Many metro Atlanta neighborhoods have experienced significant declines in home values over the past couple of years. Not so in the 30033, 30329 and 30345 zip codes! House values have remained relatively stable and the market is not flooded with homes for sale.
What do these zip codes have in common?
- Major Employers have remained stable. Emory University, The Centers For Disease Control, The VA Hospital and The DeKalb County School system have not experienced any significant layoffs or down sizing. When jobs are stable, real estate values remain stable.
- Most of the housing stock consists of homes built in the 60s and 70s. Relatively little new construction has occurred in these markets. Most new construction was of the "infill" type and was not speculative in nature.
- In looking at the demographics for these neighborhoods, it is apparent most families could have afforded larger and more expensive homes. But they never moved and their ability to pay their mortgage loans was never in jeopardy. These affluent households in effect lived below their means.
- Excellent school systems, convenient shopping and restaurants, local services.
- Convenient commutes to major employers, Downtown Atlanta and the Airport.
Yes, there are some foreclosures in these zip codes but the dominate theme in 30033, 30329 and 30345 is stability. Stability of house values, Stability of Jobs, Stability of scools and neighborhoods.
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