This average income gets quite a boost from the jobs provided by major companies situated in the area such as Coca-Cola, Delta Air Lines, and Home Depot. It’s also projected that job growth over the next 10 years will jump by as much as 32.5%.
San Gabriel, CA (PRWEB) October 31, 2013
The latest figures from S&P/Case-Shiller Home Price Indices indicate that home prices rose up to 12.4% across the United States from July of 2012 to July of 2013. As home prices increase, the market for investors tends to dwindle as there are fewer suitable deals for U.S. turnkey properties. While many markets are experiencing a strong upswing, the market in Atlanta, Georgia remains as a great opportunity for investors.
Signs of economic recovery in Atlanta are strong: the average family income is around $54,600.00 per year, enabling the purchase of a home valued at around $266,000. This average income gets quite a boost from the jobs provided by major companies situated in the area such as Coca-Cola, Delta Air Lines, and Home Depot. It’s also projected that job growth over the next 10 years will jump by as much as 32.5%.
In particular, job postings in Atlanta point to a coming influx of high earners, as the Health IT sector experienced a hiring increase of 167% between 2010 and 2012. This growth was outstripped only by the 202% increase in the mobility sector.
In Atlanta, 75% of the homes on the market fall below the $266,000.00 price point, and the average home size is a spacious 1708 square feet. This mix of factors presents savvy investors a clear path into a recovering market with a solid foundation of strong earners. The pricing also ensures investors remain competitive and successful in renting out their U.S. turnkey properties.
Other economic factors should also be encouraging to potential investors considering the Atlanta market. Several big companies are starting to put their money into the local economy once more, including Value Place Development LLC, which is slated to build as many as 10 new hotels in the Atlanta area in the next two years, bringing a number of jobs to the city. These hotels will help build up the city’s tourism sector, as well as encourage further corporate travel to the area. Insurance giant State Farm is also investing in Atlanta, buying up land and selecting a developer for a new campus along the Atlanta Perimeter.
This influx of new capital will not only bring sustainable growth in the form of new jobs, but also opportunities for investors in U.S. turnkey properties as transplanted workers seek housing while they transition into new jobs. Recently, many turnkey providers are pulling out of the Atlanta market due to the smaller margin and decline profitability as a result of strong price increases and fierce competition from large private equity firms and real estate investment trusts (REITs), Property4Prosperity is still working hard to provide investors with exceptional opportunities in this dynamic and growing real estate market. Chayot Ing-aram, CEO of Property4Prosperity said that "we believe this is a great time for investors to be buying in Atlanta. However, we expect this window of opportunity to be gone by early next year. This is based on our expectation that the current rapid increase in home prices will continue well into next year, making it almost impossible to be able to locate high cash flow properties."
Property4Prosperity is a California-based company that provides real estate investment opportunities in Memphis, TN and Atlanta, GA to clients around the world, including the United States, New Zealand, Australia, Thailand, Singapore, and more. Find out more at their website, http://www.property4prosperity.com.