Relocating to Atlanta?
April 3, 2008 – 1:15 pm
Relocating to Atlanta?Originally uploaded by The Hendriks Group
The New York Times posted an article on a problem many homeowners are facing in our current economy.
When meaningful employment is scarce in our community, in order to survive, people migrate to where they can find a job or is more affordable to live in. I receive a lot of leads from agents in in South Florida who have clients who would like to; have to, move to Atlanta.
Atlanta’s cost of living is much lower than South Florida’s, even without comparing home prices and carrying costs. When you Include home ownership, smart money will bet on Atlanta real estate.
Let us Compare: (median price statistics, courtesy of Trulia)
Dec - ‘07 to Feb - ‘08
3 bedroom 2 bath home
Miami:
Median Price Home in Miami $334,234.00
Taxes @ 1.9% = $6,175.00
Insurance Approx. $5,500.00
Atlanta:
Median Price in Atlanta $131,208
Taxes @ 1.30% $1,705.70
Insurance Approx. $600.00
That is why the rush is on to leave Miami to more affordable areas, such as Atlanta.
The problem is, what are current South Florida Homeowners going to do about their properties? In some cases they need to sell in order to buy and if they buy while holding, the carrying costs will eat away at their funds until one or both of the homes go into foreclosure.
If you are considering moving to Atlanta and own a home in South Florida, contact me, I have many top agents I can refer you to in that area, that will get your home sold.
