Burke County GA?

Question

I see in the news today Obama has plans to build 2 new nuclear reactors in Burke County GA, so I was thinking this might be a good time to buy in that area since they will probably have a small housing boom there. Thoughts?

http://www.cbc.ca/world/story/2010/02/16/obama-nuclear-loan.html

Jennifer Ray · Answer

That is a tough area.  I am not sure it has been hit as hard in this economy.  You have several colleges driving it including the Medical College of Georgia and Augusta State.  Also just across the border in South Carolina (many commute back and forth) the Savannah River site announced it was going to create 3,000 jobs.  Here is the link to discusses that:  http://www.employmentspectator.com/2009/06/savannah-river-site-to-create-3000-south-carolina-jobs/
          
          Are you looking more at keeping long-term and renting the property or a quick flip to sell?  I have my real estate license and we are coming across more foreclosures that have renters and are income producing.  This is not a bad area and has attracted buyers from all over the world.  I urge you to do some research and look at Reynolds Plantation, The Ritz Carlton at Lake Oconee.  There is high end here but one town over there are lower prices for example one foreclosure is $18,000.  
          
          Look into it.  You can email me at [REMOVED] with any questions.  I work with Century 21 Minchey Properties.

RJ M · Answer

Jennifer, I agree.... However, I have not had any luck finding wholesale, foreclosed, bank owned properties, or houses with instant equity in Columbia County. Thinking like an investor, I had my mind on immediate profit potential. However, if somebody buy and hold the property, the demand will increase as well as the equity.

Jennifer Ray · Answer

I would look more at the Evans/Martinez area.  A large majority live there instead of Augusta.  It's more of a suburb and it's a very nice area.

RJ M · Answer

I was thinking the same thing. I would consider buying in Augusta which is 15 - 20 mins from Burke Co which is rural. The NSA is also going to place some jobs in Augusta/Ft Gordon area.