Atlanta and all of Georgia Stronger Than Covid – Real Estate, Jobs, Investments

Atlanta and Georgia have been “slobernockered” by Covid, as John Madden would say, but still we are stronger than the disease and the numbers prove it.

Atlanta stands out from the competition about its future, especially as we continue to deal with the nightmare of Covid19, both with residential and commercial real estate market, and continued job and investment growth. Now, updated two days later on August 7th, is great commercial real estate and job news. When it comes to industrial construction, as CoStar reported, Atlanta ranks 2nd. As for jobs, Georgia added 3,629 and $574 million in new investments.

Focusing on residential real estate – Atlanta House numbers -it has been a great recovery from March through July 2020 and solid for a normal situation – The numbers are indisputably strong.

Without Question, the future of Atlanta remains bright. One just has to look at the housing market, specifically houses. The brightness really shines when you look at year-over-year statistics for the number of units sold. Both Buckhead Atlanta and Vinings distinguished their strengths in different ways, price and number of houses sold for consecutive months.

Residential and Commercial Real Estate Working Together – in Vinings

Buckhead Atlanta remains, justifiably, the iconic neighborhood to those outside of Atlanta, and year-over-year justified this view. For the month of July, 2019 to 2020, the number houses sold remained the same at 66. This market’s strength rests in the average increased sales prices for June ($162,172) and July ($208, 341) in the 30327 and 30305 zip codes.

Vinings and Midtown Atlanta further showed how strong the desire is for houses, especially greater personal space with normal social distancing. Leading the biggest gain was Vinings at 80% in June with sales almost doubling from 5 to 9. Better yet are July’s numbers, 100% increase of 7 to 14, and sales days on market dropping 44%. June’s average sales price trailed 2019s by approximately $38,000 and then surpassed last July’s by $90,000.

Midtown’s sales increased in June by 71% from 7 to 12, and 60% in July from 10 to 16. As for increased average sales price, there was a month’s delay in 2020 numbers surpassing 2019s. July 2020 outperformed 2019 by $131,673. Days on market remained relatively consistent with Buckhead Atlanta’s numbers.

When it comes to condominium and town home sales, 2020 numbers lag behind 2019s. This should be expected. The need for social distance and desire to have personal outdoor space, as a result of the quarantine, have not bode well for these sales. When will the trend reverse itself? I guess when people feel comfortable or are allowed to go back into an office, and other public spaces at pre-virus levels.

I Feel The Need for Speed …Relocate to Atlanta | Atlanta’s Attraction for Relocation Combines CRE + Residential

Business Environment Spurs Growth and Renewal with Government Support

I Feel The Need for Speed…to Relocate to Atlanta. Atlanta 3rd Best Among Large Cities for First Time HomeBuyerrs – Reality is #1
Now if you look at the list about Atlanta has to offer compared to the two cities ranked higher, we are most definitely #1. Look at the great business climate in which to work, and corporate one for relocation. Add to the fact, Atlanta is one of the most popular tourist and convention destinations, we are the best. Last but not least, are the other cities really major ones?

Atlanta So Strong It Cannot Be Ignored by Competitor Cities:
Originally published on June 14th, Atlanta’s attraction for being a top business destination in “which you want to work” attracted attention in the Midwest by a was noted this rely by the renowned Key Tower Ohio. It ranked Atlanta as the #1 city in which to work.

Public-Private Cooperation:
The Atlanta Westide Future Fund  is one of the best present embodiment of cooperation between the city government and private philanthropic support to spur Atlanta’s commercial and residential real estate development while protecting its current residents against real estate tax increases for – the next 20 years. SunTrust Bank, earlier this May donated $5 million to the fund. Ms. Ebony Ford, according to the Atlanta Business Chronicle on May 3rd, benefited from it.

I thank Tim Keane who said the Westside of Atlanta provides the best commercial and residential real estate investment opportunities and highlighted the private-public cooperation, at the Atlanta Design Fesitval’s “Thoughtful Development for a Sustainable Future” on June 4th 2019. He and Nathan Hedges said that Atlanta’s Westside provides the greatest opportunity for commercial real estate re-use. Therefore, we have only tapped the surface of the Westside Atlanta’s growth.

Such cooperation can be traced to a great relationship between Atlanta’s city hall and business sector, especially its Fortune 500 companies.

What does that mean for residential real estate? Midtown Atlanta continues to assert its position as the strongest sub-market, the prime area for Fortune 500 Companies relocation. Berkshire Hathaway HomeServices Georgia Properties is the best Midtown Atlanta real estate has been entrusted to serve the relocation of iconic Atlanta corporations.

Fortune 500 Companies:
Atlanta’s Fortune 500 international business environment continues to grow. In its recent recent history, the Georgia Aquarium grew from the incredible collaboration between Atlanta May Shirley Franklin and one Home Depot Founder Bernie Marcus. Now, you have rejuvenation of the West Side of Atlanta with the other owner, Arthur Blank after he built the world renowned Mercedes-Benz stadium.

The private and government sector are always looking to collaborate to improve the city. Rarely, do hear about a perpetual dispute between the two parties. This cooperation has its origins in the Civil Rights Movement as the “City too busy too hate” and former Mayor Kasim Reed, “Cooperation is better than confrontation.”


Taxes and Cost of Living

Atlanta’s and all of Georgia’s reputation for being a less-expensive place to live is definitely merited, and that is with great quality of life. Rarely, do you find people who have lived in Atlanta since the mid-90’s returning back to high tax states such as New York, Connecticut, New York, Illinios, and California. Moreover, the spending power we enjoy in Atlanta greatly surpasses what residents in other states enjoy. For example, earning $50,000 in Atlanta is the same as $90,685 in New York City. (Note WalletHub and BestPlaces.net provided the information.)

Climate

Forget “Hotlanta.” New York City and Chicago are just as hot in July and August as Atlanta. Our winters are mild, and we do not suffer from the winter drudgery. Forget about statistics. Atlanta’s weather consistently changes, except for the summer.


Diversity of Neighborhoods

In Atlanta, as we continue to unify a city of transplants, we celebrate and visit the greatness of the uniqueness of each neighborhood. Each one has its own special feel that you can immediately experience. Look back to Atlanta’s origins and Buckhead Atlanta’s founder Henry Irby who founded it back in 1840 after moving here from South Carolina.