Metro Atlanta homeowner bombarded with home investor calls, postcards

Published: Sep. 16, 2022 at 11:41 PM EDT
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ATLANTA, Ga. (CBS46) - Allyson Moyer is just one of the thousands of people who were looking for the American dream. She prefers to keep her address private, but she found that house in Cobb County.

“It’s a great piece of property, I have almost two acres,” she said.

About a year ago, she started to get some calls from investors trickling in, but now, she says it has gotten more frequent. She even received postcards.

“I get four or five texts a day, it’s getting to the point where I don’t even want to answer my phone,” she said.

Her parents, who live in another state, also get the calls.

“They get calls as well as text messages on their private phones, of investors trying to buy my house in Georgia,” said Moyer.

This is a phenomenon occurring across the country. In fact, according to a recent study from Redfin, about 33% of single-family homes purchased in metro Atlanta in the first quarter of this year, were by investors. Moyer believes this is not always a good thing.

RELATED: Corporate investors flooding Atlanta’s housing market

“Investors are buying up all these homes, increasing the rent to where nobody can afford it and then they get evicted,” she said.

She also worries investors will continue to outbid first-time home buyers, with their often, cash offers. She does feel there is a solution.

The city of South Fulton just passed legislation asking the state to regulate investor-owned homes. Atlanta is also looking for similar measures.

RELATED: South Fulton calls on state to regulate investors buying single-family homes