Get ready to meet some new neighbors…about 70,000 to be more specific! The Wistrick Team found some crazy new stats that will impact your life here in Atlanta. We checked in with the Atlanta Regional Commission and found that an average of 1,300 new people are flocking to the Atlanta area thanks to a few industries.

Major changes are taking place around town. We have not one, but 2 new stadiums. The Braves have their new home in the Battery with a multi-billion dollar development plan (which includes housing), and the new $1.2 billion Mercedes-Benz stadium is now in place for the Falcons. Loads of new city-centers are popping up everywhere from Holly Springs to East Atlanta.

Why so much development in such a short amount of time?

Simple…we are becoming a booming epicenter for major corporations. The top driving industries have been healthcare, film and universities. We are now home to Mercedes Benz with their new $93M facility in Sandy Springs and a likely candidate for a second $5 billion Amazon headquarters.

The list could go on and on with new companies pouring into our city, but what does this mean for your home? As you are already aware, we have low inventory for the third year straight in Atlanta. With 70,000 new people added into the mix, we will need a lot more housing to accommodate them. If you’re already a homeowner, you can expect at least 3% appreciation over the next year (more in hot areas). Also expect to see prices rise faster inside the perimeter due to those trying to avoid a 2+ hour commute each day for work.

So what’s the takeaway? It may be time to snap up a rental property. If you have money rotting in a savings account, we would highly recommend considering putting it to work in the real estate market. Just a 3% appreciation on a $200,000 property yields $6,000 per year, PLUS the mortgage is being paid down by someone other than you, PLUS you get the tax benefits, PLUS you earn monthly rental income…pretty hard to beat that type of return in the stock market.

It may be time to move yourself. With the wild appreciation and heavier traffic we will likely see, finding a new home with a better commute or closer to the kiddos’ schools may be the golden ticket to a happier life. Rates are still ridiculously low, so affordability creates leverage to slide into a higher price point for far less money.

If you are considering making a move or investing in this booming city, we are always here to help. Just give us a ring or shoot us an email, and we will guide you every step of the way!