Atlanta Condo Search was launched to provide in-depth analysis on condominiums within the Atlanta metropolitan statistical area (MSA). During the early part of the decade, the United States has witnessed a massive boom in condominiums; especially in high-growth cities such as Atlanta. Although the cause of this boom is debatable, it is generally accepted that a combination of easing lending standards as well as investor demand for securitized mortgages played a big role. In fact, the situation had gotten so inflated that builders and developers were able to finance purely speculative projects with the idea that “if we build it, they will come.” Furthermore, individual investors with no experience in real estate were attempting to capitalize on lenient lending standards by purchasing homes with creative financing strictly to flip them less than 12‐months later. As in any market, it was only a matter of time until such zealous buying would be brought into check.
By 2007, Investors of mortgage backed securities began to seriously question the credit quality of homeowners underlying these securities. With the risk of default increasing rapidly, lending practices tightened significantly as credit dried up; which subsequently drove real estate prices lower. The result of all this is heightened uncertainty in the condominium market as current homeowners wonder if they made a bad decision and potential homebuyers question the valuation outlook of their purchase. This uncertainty is especially prevalent in markets known to be saturated with condominiums such as Atlanta.
Our goal in this blog is to try and reduce this uncertainty and empower market participants by providing thoughtful analysis on the condominium market in Atlanta. This includes building specific information on both new and existing developments as well as commentary on overall market conditions such as mortgage rates and government policy. Our proprietary database, coupled with our extensive search function, covers approximately 10,000 condominium units in Atlanta and includes information you won’t find anywhere such views and neighborhood characteristics as well as in-depth analysis and estimated valuations.
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