WABE, September 14, As Property Values Rise In Atlanta, So Does The Exploitation Of Black Homeowners
In four neighborhoods — Pittsburgh, Venetian Hills, Grove Park and Sylvan Hills — more than 1 in 4 homes sold by someone living in them sold for a price that wasn’t even half the Zestimate. These neighborhoods were also among those with the highest rates of homes with occupant sales prices that were well below their value when compared with the Fulton County Tax Assessor’s estimate of fair market value.
In more than a dozen other neighborhoods, largely on the northern side of Atlanta, there were no sales by owner-occupants that were similarly low-valued.
Interviews with homeowners uncovered several factors that led them to sell for those prices, from calls, texts and fliers from investors asking to buy their properties to the stress that came with increased code-enforcement complaints.
