| INVESTMENT OPPORTUNITIES IN ATHENS Over the past few years, Athens has been viewed as an area with excellent investment opportunities. With the University of Georgia, there are always new students moving to Athens, which creates the need for student rental properties. For many years, there was a shortage of housing for students so developers saw an opportunity to fill this demand. In 2005, we saw a tremendous increase in available properties. 2006 still showed an over-supply of condos and other multi-family housing in the Athens area. For the first time, we are seeing student housing prices drop. It's always been a safe investment for parents to buy for 3-4 years and sell for a profit. Currently, we are seeing many properties on the market at the price paid 3 or 4 years ago. This seems to be a good time for buyers to take advantage of the excess supply and hold for the next market increase. We have not seen prices this low in several years. Many parents that bought for their children and don't want to stay in the rental market are offering excellent deals on condominiums. Prices for single family homes are consistantly increasing each year. In the $100,000-$150,000 range, we still have many young families that need to stay in this price range, and there aren't as many good properties to choose from. When a great property comes on the market, it is very important to have an agent working for you so you'll be able to see the new listing as soon as it's on the market. |