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Fuqua Development puts prime Beltline property under contract

Fuqua Development has an agreement to buy a 17-acre site next to the Atlanta Beltline’s Eastside Trail — the largest contiguous piece of land along the rapidly changing Memorial Drive corridor.

Fuqua Development, led by Jeff Fuqua and partner Heather Correa, have the Leggett & Platt Inc. building under contract, with plans to rezone property and close on the transaction by this time next year.

Details of the agreement were not available, but the site was expected to fetch at least $1.5 million…
Source: bizjournals.com

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Metro Atlanta home price growth slows in September

Metro Atlanta home price growth slows in September

Green graph with dollar signs showing home growth in Atlanta

Home prices in metro Atlanta continued to grow in September, but barely, according to the latest S&P/Case-Shiller Home Price Indices.

Home prices went up 0.1 percent from August to September, but rose 6.2 percent year over year.

“The general economy appeared to slow slightly earlier in the fall, but is now showing renewed strength,” said David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices. “With unemployment at 5 percent and hints of higher inflation in the CPI, most analysts expect the Federal Reserve to raise its Fed Funds target range to 25 to 50 basis points, the first increase since 2006. While this will make news, it is not likely to push mortgage rates far above the recent level of 4 percent on 30-year conventional loans. In the last year, mortgage rates have moved in a narrow range as home prices have risen; it will take much more from the Fed to slow home price gains.”

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Is your company leading the technology revolution? Prove it

The technological revolution is happening, right now. Here at HousingWire, we see that innovation happening and feel it deserves some serious kudos. The shouting it from the rooftops kind, to be exact. It’s in that spirit that HousingWire honors the most innovative innovators who’ve innovated in the most innovative ways in the last year.
Source: NHOusing wire

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Apartments.com and Move, Inc., Enter into a Strategic Content Relationship

Group, Inc., owner of Apartments.com, recently announced an agreement to exclusively power the apartment community listings on the websites owned and operated by News Corp subsidiary Move, Inc.—realtor.com®, Move.com, and Doorsteps.com—with advertiser content from Apartments.com and ApartmentFinder.com. The Apartments.com apartment community listing information complements realtor.com®’s listings content, which is derived from relationships with agents, brokers, […]
Source: RIS MEDIA

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Why Atlanta's intown apartment market might see trouble on the horizon

A familiar pattern in Atlanta is to build until we bust.

The poster child for this excess in the previous cycle was the condominium market. Today, the intown apartment sector is at the greatest risk of becoming overbuilt. Market fundamentals are strong, but explosive growth in supply is cause for concern.

Haddow & Company tracks the performance of class A apartments built in the urban core since 2000 and monitors the pipeline of projects under construction and proposed. During third quarter 2015,…
Source: bizjournals.com

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City of Atlanta buying downtown apartment community by City Hall

The city of Atlanta is buying a 264-unit apartment community across the street from City Hall.

The city will acquire City Plaza at 133 Trinity Avenue S.W., according to a notice on the city’s website. The complex is owned by Atlanta-based apartment management company JMG Realty Inc.

City Plaza contains 69 one-bedroom apartments and 95 two-bedroom units. It also has 29,000 square feet of ground-level retail.

Details about the price the city will pay and why it’s buying the complex were not immediately…
Source: bizjournals.com

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Fannie Mae continues shifting credit risk to insurers

As part of its effort to reduce the taxpayers’ burden, Fannie Mae announced Friday that it completed its fifth and sixth credit risk-sharing transactions as part of its Credit Insurance Risk Transfer program. Through these latest deals, Fannie Mae said that it has acquired more than $800 million of insurance coverage on over $32 billion of loans this year.
Source: NHOusing wire