Archive for the ‘Atlanta Job Market’ Category

According to recent reports, home buyers in Atlanta can breathe a sigh of relief in regards to the local economy. The Federal Reserve recently announced that interest rates will stay at their low level through 2014. In keeping with the interest rates, there is also the unemployment news–rates are down! But that isn’t all–here in Atlanta, the home price index has increased (though slightly) over the last 3 months. While it may be premature to say, it seems a go that the Atlanta market is on the road to recovery.

The Atlanta movers want to encourage potential home buyers to strike while the iron is hot and take advantage of the low interest rates. Though they’ve been extended through 2014, that doesn’t guarantee the volume of inventory available today!

The real estate market keeps taking blows, and the most recent is from the mortgage industry. The new record low for 30 year fixed mortgages, 3.87 percent, is the ninth “lowest” rate in the past year. Basically, the numbers keep dropping. And for a 15-year fixed mortgage? Another record low, at 3.14 percent.

Here in Atlanta, we are no exception to the trend. With loan qualifications increasingly difficult, job loss increasingly common and an abundance of foreclosed homes permeating the market, it seems the condition of the real estate industry is steadily getting worse. The whole industry is suffering in terms of value. So what to the Atlanta movers feel about it? We need a way to inject faith into homeowners, buyers and builders. Who knows how long it could take to re-instill hope in the industry, but we feel 2012 just may be the year that everything falls back in to place.

While the entire country has been battling with a floundering real estate market, cities notorious for poor real estate investments didn’t take the cake in 2011 for the weakest real estate market. In fact, the “winner” in that department is right here–Atlanta. The Atlanta movers hope we can get our local economy turned around in 2012.

Residential real estate took a blow, and the price of homes was down about 12 percent compared to 2010 figures. That make Atlanta the biggest decline in the nation. Paired with the housing market is the significant Atlanta unemployment–an above average 9.2 percent.

Buckhead has long been noted as an upscale and prominent area of Atlanta–but also one that had potentially jumped the gun and built too many new developments too quickly, such as expansive condo and apartments and also a plethora of office space. With the recession, many of these new and beautiful luxury buildings were left vacant.

However, with a new year seems to be a new turn for Buckhead. At it’s vacancy peak for offices, Buckhead was at 23% open units. Currently, that number has dropped to 18.7% vacancy. While the change may not seem significant, the Atlanta movers are hoping its a positive step in the right direction.

While residential real estate is staying busy with buyers, landlords, and renters; the commercial site isn’t doing as well–but it’s getting there. Hopefully in the first quarter of 2012 we will see some positive movements in the Atlanta market.

The Occupy movements are moving on to a new cause–saving foreclosed homes. Not just for the owners, mind you, but also for themselves to basically squat in. Public spaces such as parks have driven out the crowds, so they have taken to boarded up and condemned properties and claiming them as their own.

However they do also claim to be saving homes for families being foreclosed on. In Atlanta specifically, Occupy protesters held a rally in front of a county courthouse with whistles and sirens intended to disrupt auction proceedings indoors. The auctions were of course to sell the foreclosed homes. The foreclosure protests have also been popping up in New York, Seattle, and in Southern California. The motto? “Foreclose on banks, not people.”

The Atlanta movers have learned through a Newsday article that Occupy protesters feel they are saving homes for the needy and that their acts are a sort of “Christmas gift to the people.”

Rents are up, despite cities still struggling with unemployment and economic crises. The only city to see a decrease in rental prices for the third quarter of 2011 was Las Vegas. With more Americans veering away from home ownership, vacancies in apartment complexes are at their lowest level since 2006.

The rise in rent seems inconsistent with wage cuts and job losses, so perhaps the trend will soon stop if the economy continues to weaken. Currently, the average rent in (and within 10 miles of) Atlanta is $994 per month. One bedrooms average at $894, and two bedrooms at $963, as of September 2009 according to Rent Jungle.

If you’re planning to move to a new apartment in the Peach State, be sure to contact the Atlanta movers for the best rates and promotional savings. We can meet all residential and commercial move needs, just call us today and get started with a quote!

Atlanta has recently been announced as one of the top 10 cities in the U.S. with high-net worth residents. Wealth X, which is a wealth information and intelligence company, has ranked Atlanta at number eight. The residents who qualify for ultra-high net worth are worth at least $30 million in assets.

New York was at the top of the list with over 7,000 high net worth residents, and Seattle came in at #10. The rest of the cities are, in descending order, Los Angeles, San Francisco, Chicago, Washington D.C., Houston, Dallas, and Boston.

Whether you’re one of the high net worth residents, or just an average Joe like the Atlanta movers, we want you to know there is no move too big or too small. We are here to help you relocate to anywhere in the country–whether it’s one of these 10 cities or anywhere else your heart desires.

In a few days, the Fulton County Dept. of Housing & Community Development will host a event for the residents of Atlanta regarding foreclosure. A healthy mix of counselors, information, and assistance will make up this great event at Atlanta’s Westlake High School on Saturday from 9-4. One of the highlights for homeowners is a qualification screening for the Making Home Affordable initiative.

The Atlanta movers want to make sure you attend the fair prepared! To apply for the program you must have two copies of several documents on hand, such as:

The past two mortgage statements

Recent communications between lender/mortgage company

A month’s worth of paystubs

Your tax return

Two most current bank statements

Copies of all relevant bills: insurance, utilities, auto

Also: Unemployment insurance letter, property tax statement, current homeowners insurance policy, personal loan statements, credit card statements, HUD1 from mortgage closing, mortgage deed.

You can register for the event here.

The Atlanta real estate market is seeing a boost in funding from foreign investors, notably those whose currencies are stronger than the US dollar. Guided tours are taking place throughout the city, as well as other US markets, showing properties that are available for purchase.

Here at the Atlanta movers, we recognize the potential for foreign investors in the local market. As some properties certainly need work done, foreign buyers will hire local workers to fix property problems and therefore help stimulate dry spells in certain home related industries. Australia, Israel, and Europe are where a majority of the tour participants hail from. Homes are selling at a rate of 30-35 per month, between $50,000-80,000 on average.

Despite high unemployment rates in the Atlanta metropolitan area, it seems are though new job opportunities are arising daily. Manhattan Associates, a locally based supply chain company, has announced the addition of 200 jobs in Atlanta. Nex Traq, which specializes in GPS fleet tracking technologies, is looking to fill 20 new Atlanta employment positions.

Also, existing companies such as restaurants in the Atlanta area say that while, yes, there are obstacles to success and to thriving in this economy, sales are actually growing. And rest assured, these are independently owned restaurants the Atlanta movers are talking about—not chain restaurants. Even though times are hard for everyone across the country, sales at restaurants rose 7.2% compared to 2010. That spike engulfs all types of restaurants—from fast food to fine dining.

Nationally, it has been a rough time for restaurants—almost 9,000 independantly owned locations went out of business. According to a NetFinancials study, 80% of about 70 Atlanta area restaurants reported sales gains in the second quarter of 2011. Here’s to hoping that the numbers continue to increase!