Atlanta has recently begun gaining more attention due to a surge in marketing, job growth (especially tech jobs) and many big private equity firms switching their focus to the city after milking everything they could out of Phoenix. According to Trulia this has led to a massive 24.8% jump in the number of home sales over the last year while the median home sales price continues to nudge its way upwards.
On the downside Atlanta is one of the most notorious real estate and mortgage fraud capitals of the country, which is certainly why there are so many foreclosure properties there. There are opportunities but real estate investors who are new to the area should get their boots on the ground and be confident in what they are really buying and its value.
In contrast, the San Diego real estate market has recently been heralded as leading the nation’s housing recovery and the statistics reveal it as one of the healthiest and strongest markets in California. Home prices are soaring, demand is stronger than ever and home sales are up, though home inventory is way down. Plus of course, those who want to invest in the best looking homes and want to feed their egos by flipping celebrity homes are clearly best off tapping into San Diego real estate.
The bottom line is that both markets offer incredible opportunities and profits, it is more a matter of convenience due to geography, personal taste and whether you feel more confident investing in the strength of San Diego or want to jump into the fray and play with more lower end homes in Atlanta.
