Top 10 Cities to Buy a Home - Altanta GA
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hiAs many experts predict, the bottom of the current housing market collapse is close to, if not past us and with that news the Atlanta GA. real estate market in my opinion is getting ready to make a turn for the better. In the coming months the market should stabilize and with the new Housing Bill signed by President Bush, buying a home should be easier for many who have been wanting or waiting to buy.
What the Bill should do is cause a ripple effect through the industry. As first time home buyers (or those that have not bought in the past three years) start to purchase lower cost homes, those who are able to sell will typically purchase more expensive homes, which allows those persons to “move up” as well, and so on and so on. How long this process takes to unfold I cannot answer, but in the past couple of weeks we are starting to see an increase in lower end home contracts which is a good sign.
With that being said, a recent article in Forbes magazine ranked the Top 10 Cities to Buy a Home and Atlanta Ga was ranked as the #10 spot to buy.
Financially, at least, the best places to buy houses are those where buying costs less than renting, tax incentives are attractive, and there’s an opportunity to build equity. Forbes magazine surveyed the 40 largest metropolitan area housing metrics looking for cities where home prices have appreciated over the last two years. It also measured vacancy rates. They also gave extra points to cities where rents are significantly higher than a buyer would pay for the same home. No surprise that Texas dominated the magazine’s list because of its healthy job market and growing tax revenues.
Here are the 10 cities that topped Forbes’ best-places-to-buy list:
1. Houston 2. Austin 3. St. Louis 4. Philadelphia 5. San Antonio 6. Dallas 7. Charlotte 8. San Francisco 9. Jacksonville
10. Atlanta
Source: Forbes, Maurna Desmond (07/14/08)
If you have any questions please give me a call to discuss.
Matt Hermes
Diamond Dwellings Realty
678-279-4717
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