The sale of Foreclosures and Short Sales has affected a large portion of the metropolitan Atlanta area during the past 4-5 years, but that inventory is dissipating, and the influence of major investors picking up distressed housing has almost disappeared. There are, however, still some decent properties available for local investors who are looking for rental income.
Here are a few predictions for the 2014 real estate market that could influence a healthy rental market for investors.
1) Interest rates are likely to rise –More will be renting.
2) Home prices will also rise – More will be renting.
3) Many homeowners who lost homes through foreclosure and short sales will not be able to purchase another home for some time. – More will be renting
5) Chan also highlights another issue impacting the decline in ownership by Gen-Y-ers who are renters. “This group is the next generation of homeowners, but they’re seeing high unemployment and low wages”. More will be renting
6) Chan also indicates that “rising home prices will encourage Americans to move, but to less expensive areas where housing is more affordable. Metros like Houston, Dallas, Denver, Atlanta and Portland will see a growth in residents”. More will be renting
Atlanta Decatur Homes is a local real estate company selling homes located in Atlanta, Decatur, and Emory University neighborhoods for over 25 years and offering professional property management for homes in the Emory area.