Is Atlanta an ugly duckling among housing metros?
The number of homes for sale in Atlanta is overwhelming to many real estate experts, especially given the amount of high quality properties available. While some view the market as the "ugly duckling" among metros nationwide, current trends suggest its ready for a rebound, according to U.S. Housing News.
The latest Standard & Poor's/Case-Shiller report showed that Atlanta and Chicago tied for the largest decrease in home prices between January and February 2012. Additionally, Atlanta experienced a 17.3 percent price decline this February from a year ago.
"This was…the lowest annual return in its 20-year history," the report stated, according to the news source.
For some, optimism in the housing market is low, but a rise in green construction could deliver instant relief. Many eco-conscious homebuyers and property sellers have created a buzz in the real estate market. There is an increasing desire to go green, and this might help Atlanta in several ways.
Total value of "green"
Property owners and homebuyers may benefit from eco-friendly changes. Many people view green renovations as an opportunity to save money and help the environment. For instance, products such as insulation and paints can enhance the value of homes quickly and efficiently with a green focus.
The current move toward a low-carbon economy has impacted the real estate market. According to Reportlinker.com, commercial and residential buildings in the United States account for 39 percent of greenhouse gas emissions. However, the U.S. government has a plan in place to reduce these emissions by making all new properties carbon-neutral by 2030 and advancing existing building stock efficiency by 25 percent.
Atlanta could become a leader in green construction thanks to new government initiatives as local officials continue to take steps to improve sustainability efforts in the metro. For example, Green Building Chronicle notes that the Atlanta City Council's Utilities Committee passed an ordinance to make it simpler for local homeowners to use rainwater inside their homes in September 2011.
Existing homes and newly-constructed properties can take advantage of this system to provide tremendous value to investors. Reportlinker.com estimated the total value of "green" construction at almost $70 billion in 2011, and this figure could more than double by 2016 and quadruple by 2021.
Become a green homeowner in Atlanta by selecting from a variety of foreclosed and new homes in the metro.