Good news for Cobb residents!
Cobb County has recently seen growth in the housing market. The county and its six cities issued more than double the number of single-family housing permits--89 total housing permits for the month, as compared to 37 in September 2011. Smyrna led with 15 for several neighborhoods currently under construction.
Marietta issued eight permits. Acworth reported three, and Kennesaw issued two permits during the month. The cities of Powder Springs and Austell had none.
873 permits have been issued countywide, a 38-percent increase over the 632 permits that were issued last year 2011.
From the Marietta Daily Journal, Terri Bunten Guthrie, executive vice president and chief lending officer of First Landmark Bank in Marietta, said her bank has seen more builder requests for construction loans in the last two to three months. “It is refreshing to see builder activity in both pre-sale contract and the spec markets,” Guthrie said. “Initially we saw improvement in products geared toward the first-time homebuyer. Without an existing home to sell, these buyers are positioned to more quickly enter the market.”
Bunten also said she is encouraged by more activity at higher price points, also known as the “move-up market” which leads to re-sales. “The financial benefits related to residential real estate construction are far reaching, providing much needed revenue to the private and public coffers,” she said. “As with all financial institutions, and most builders that remain, we are cautiously optimistic."
How do you feel about the growth in your area? Cobb residents, sound off!
