2015 – Atlanta will be one of the top Housing markets.
A friend forwarded this link showing the Atlanta market with an estimated +11% housing price growth forecast for 2015.
I do find the forecast interesting. I suppose with a broadening of job growth across skills levels will lend more growth to opening price point housing options. Both the rents in the Atlanta market, as well as homes and condo units up to $400k should do exceptionally well this next year. Rents in Atlanta were up significantly in 2014, and given the sheer number of people moving here for the various employment and academic pursuits, I fully expect the growth will continue. With an economy hopefully in a continued state of growth I expect relief to finally come to the working class people.
I intend on doing more owner finance deals this next year. These were a large portion of my income in 2012, but I had not seen the opportunity again until now. My first two Owner Finance flips are already being set up for Q1 2015. These factors have made me more focused on this for 2015:
-Better job prospects and growth for working class people.
-Higher US interest rates expected in 2015 make my 6.5-8% Owner financing less egregious.
-Increased rents makes finding a 2 bedroom Apartment under $800-900 in working class areas increasingly tough. Thus owner finance deals which call for $650-900 a month in debt service look increasingly attractive.
-While inventory at all levels of housing is at the lows, some larger corporate buyers and funds have slowed their Buying down, thus unlike prior years, there will likely be less competition for purchases.
In general I love placing bets on housing by going under contract in December and January when other Buyers are fewer and far between. Some of my most profitable deals have been acquired during this time period. Similarly, my clients often are able to negotiate some of their best deals during this time.