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The Inside Scoop on Atlanta Real Estate, Atlanta Condos and Buckhead Real Estate

Atlanta is considered the capital of the New South in the U.S. It has several reasons to claim this title being a very progressive metropolitan area in the state of Georgia. In fact, it has evolved from being just a center of regional commerce to being a city with great influence internationally. Atlanta’s growth rate was pegged at 20.5 percent between the period of 2000 and 2006 making it the most rapidly growing metropolitan center in the U.S.

Atlanta is the capital of Georgia with a metropolitan population of more than 5.1 million as of July 2006. It ranks 9th as the most populous metropolitan area in the U.S. It is also worthy to note that Atlanta has the fastest growing millionaire population in the U.S. By 2011, it is estimated that the number of households with $1 million or more in assets will go up to 69 percent or 103,000 households.

Real estate

Real estate wise, Atlanta is home to numerous highrise and midrise buildings with modern architectural design spread in the Downtown, Midtown and Buckhead areas. It boasts of its towering Bank of America Plaza at more than 1,000 feet becoming the world’s 29th tallest building. With the influx of businesses in the city, the real estate industry has also been growing. This, in turn, has led to a favorable employment rate and economic boom.

Being home to many of America’s top television networks, it is not surprising that various real estate reality TV shows are being produced to highlight Atlanta’s real estate sector. Some of these very popular shows, notably on home flipping or buying, fixing and reselling residential properties, are the Flip This House and The Real Deal.

It’s a buyer’s market in the city as housing prices have dropped by almost 14 percent since August 2007. There are more than 115,000 homes on the market today and this situation is definitely favorable for homebuyers whether first timers or those buying second homes. One-bedroom homes are the most sought after with an increase of nearly 10 percent. At this time, moving to Atlanta with its great public schools, shopping and job opportunities should be worth wild.

Atlanta condos

Across the U.S., there’s a high demand now for office condos, according to the research firm Reis Inc. based in New York. Developers are focusing on this market which can give them net annual returns between 15 percent and 40 percent. Many authorities in the real estate business believe the condos are a nice option in a softer leasing market. The Dorey Market Analysis Group in the city reveals that office condo space in Atlanta totals 9 million square feet or about seven percent of Atlanta’s total multi-tenant office market that covers more than 126 million square feet.

Condominiums in the Atlanta including the Buckhead area have been on the upswing with a new construction project commencing almost every week. But while many new buildings are put up, historic structures that have been renovated also exist. For example, former warehouses and factories have been transformed into lofts or high rise condos that provide an opportunity for pampered living. These condos provide the much-needed amenities, are situated in ideal and convenient locations with active communities and offer lovely views of the city.

With a vibrant real estate market, there’s no way to go down for Atlanta. Many businesses and homeowners will surely consider this area where they can reap many benefits on a financial and personal basis. It’s safe to say then that Atlanta will always be up to the challenge whatever crisis may come along. It has surpassed its past issues and it will hurdle its challenges in the future.