If you are a follower of industry news, or if you frequent Starkey Mortgage’s (WR Starkey Mortgage, LLP NMLSR #2146) blog, you will recognize one recurring theme in this new year: the new-construction housing industry is returning to its former glory.
While the nation continues to progress, Atlanta seems to be a particular stand-out among the nation’s top cities, accelerating its building boom beyond expectation. For the fourth year in a row, Atlanta has claimed the top spot in Penske Truck Rental’s annual list of the top destinations to move to in the United States. Thanks to a low cost of living and excellent employment opportunities, more people are migrating to Atlanta and calling the city home.
With the continued influx bending in favor of Atlanta, commercial and residential real estate follows. Douglas Sams, the commercial real estate editor for the Atlanta Business Chronicle wrote in his latest article, “After the steepest recession in decades sapped its strength, Atlanta is seeing billions of dollars in new investment in its urban core and the return of its official bird — the crane — to the skyline.”
Sams went on to say, “Last year alone, the city’s intown properties … attracted almost $1.4 billion in new investment, according to data from Real Capital Analytics, a firm that tracks real estate deals. That’s the most since $1.9 billion in 2007, the last good year before the market collapsed.”
Doug Casbon, a regional manager with Starkey Mortgage, said, “If you haven’t been in town recently, it really is amazing with everything going on; from the development of the Atlanta Belt Line and Ponce City Market, to the continual improvements in Piedmont Park.”
Starkey Mortgage has also seen a measurable increase of both new and existing home sales in the last year, building on a steady increase from 2012. In a new survey the Atlanta Business Chronicle released earlier this month, contractors across the United States expressed the most optimism about the upcoming year for real estate construction since the downturn nearly seven years ago.
“Atlanta has seen a tremendous amount of growth over the last year,” explained Randee Black, Starkey Mortgage’s vice president of the National Builder Division. “This region is booming with housing and job growth, and we are starting to see a stronger demand for home mortgages, keeping limited supply of new homes in check. As the spring approaches, more shoppers will be resurfacing and strong demand for new homes will continue, enabling the housing market to continue to improve. We are very much looking forward to a great 2014!”
For more information on obtaining a home loan from Starkey Mortgage, please contact regional manager Doug Casbon (NMLSR #544324, Georgia License #33169) at firstname.lastname@example.org, call 678-350-9020 or visit www.StarkeyMortgage.com.
Equal Housing Lender. 7000 Central Pkwy NE, Suite #1440, Atlanta, GA 30328. Branch NMLSR #909552, Branch License #60841. Phone: 678.350.9020.