Saturday, June 11, 2011
Real Estate Ring of Death in Metro Atlanta (Including Clayton, Henry, Fayette & Coweta!)
If you live in the Metro Atlanta area, chances are you can probably think of a half dozen subdivisions that
were developed and then came to a halt when the market came crashing down. Some of these developments have no homes built, some are partially built, and some only have a couple of homes with many vacant lots. The local news just ran a story titled "Real Estate Expert Dubs Area 'Ring of Death'' in which a local real estate expert, Steve Palm of Smart Numbers llc, speaks about all of these "ghost developments." He explains that there is a circle, or "ring" if you will, around the heart of Metro Atlanta that's new construction market will never return and the unfinished subdivisions will likely never be rebuilt.These counties include: Paulding, Carroll, Douglas, South Fulton, Clayton, Henry, Newton, Barrow and parts of far east Gwinnett, Hall, and the north Cherokee. While Palm does include Fayette, Coweta, and Forsyth in his ring of death, he does acknowledge that their new home market is stronger than the other counties and will recover quicker once the market demand comes back.
For the entire article and video, visit: http://www.wsbtv.com/news/28100024/detail.html