Old Magnolia Apartments, a 16-unit apartment complex on Maxwell Road between Ga. 9 and Hembree Road, recently sold for top dollar to a California investor. After a brief inspection period and entertainment of multiple offers, Selina Chao closed on the property at just more than $77,000 per unit, or more than $1.2 million.
Brian Patton's Blog
Good News in Housing for Georgia Market
There is no shortage of pundits who continue to point out the failing housing market and declining U.S. house prices. However, a closer look at the numbers produces a far steadier picture of the housing market in the state of Georgia.
The most recent housing report with one of the largest samplings of housing units was completed by the Office of Federal Housing Enterprise Oversight (OFHEO). This report, known as the Federal House Price Index Report, indicates that Georgia posted a surprising 3.54 percent appreciation in housing prices in the last year.
The most recent housing report with one of the largest samplings of housing units was completed by the Office of Federal Housing Enterprise Oversight (OFHEO). This report, known as the Federal House Price Index Report, indicates that Georgia posted a surprising 3.54 percent appreciation in housing prices in the last year.
Residential land sales still hot in some areas
Despite slowing residential sales, Alpharetta townhome land is hitting the top of the market. Raw land prices have hit more than $750,000 per acre on Canton Street, the highest recorded residential raw land prices ever in Alpharetta.
Net worth vs. Cash flow
The times are good for investors. That was the conclusion from my last
blog regarding the latest mortgage industry problems and their affects
on landlords and tenants.
The current credit crunch has stifled some potential home owners from purchasing their dream home, forcing many to stay in the rental market. This has been an encouragement to landlords who have suffered under stagnant rents and fewer prospective tenants over the last few years.
The current credit crunch has stifled some potential home owners from purchasing their dream home, forcing many to stay in the rental market. This has been an encouragement to landlords who have suffered under stagnant rents and fewer prospective tenants over the last few years.
Landlords, retail buyers, and the mortgage market
The recent mortgage turmoil has many wondering about the impact on the
economy, mortgage industry, and the real estate sector. As a landlord
myself, I was curious to determine the affect of the market changes on
the pool of tenants and future rental rates. For some answers, I went
to a well respected mortgage broker, Steve Beecham, President of
Hometown Mortgage in Alpharetta.
Niche markets opening up for developers with mixed use projects
While some view recent closings of several restaurants in Alpharetta's North Point Mall area as a sign of economic problems, local developers consider it a niche market. They intend to redevelop the closed restaurant sites into new mixed-use retail centers.
Net income, capitalization rates, and internal rates of return
There are three primary finacial terms that affect how we determine the value of real estate. Without a working knowledge of these terms, investors and Realtors are at a disadvantage in the market place. These terms may sound difficult to grasp but are an integral part in understanding how we determine the value of real estate and are important for commercial and residential investors alike.
