Atlanta’s Real Estate Ring of Death

alexandra Real Estate Leave a Comment

Steve Palm of Smart Numbers, one of Atlanta’s premier real estate data

analysts, was on the tube last night telling the public what real estate

insiders have known for quite some time:  Atlanta’s core* is surrounded by a

ring of counties that might never see significant real estate development in

our lifetime.

Dubbed by Palm as the “”Ring of Death””, the area is comprised of Paulding,

Carroll, Douglas, South Fulton, Clayton, Henry, Newton, Barrow, parts of far

east Gwinnett, Hall and the northernmost parts of Cherokee counties.  These

counties all share in the same general circumstances: previous

over-development, a glut of vacant lots and undesirable commutes to Atlanta.

This isn’t to say that real estate isn’t selling in this area, just that new

construction no longer makes financial sense.  A few key takeaways from

Palm: “”New homes can’t compete with the resales.  There’s so many

foreclosures, and they’re discounted so much, we can’t build a home cheap

enough to go up against them.””

Watch the video, and read the complete article over at WSB’s website. It’ll

make you glad that you don’t own a couple hundred developed lots in Clayton

County.

* City of Atlanta, North Fulton, Cobb, Dekalb and Gwinnett

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alexandra