What were the upstart communities five to ten years ago? How are they doing now? Even better, when the Olympics came in '96, remember all the work going on in anticipation of Atlanta becoming an "international city'? How'd that work out?
I moved here from an established neighborhood, Candler Park -- craftsman homes (I was in a 2/1), neighborhood feel, park a few steps away....cost 350K. I found Capitol View -- Bungalows & Folk Victorians, neighborhood feel, spectacular park a few steps away...cost 100K. The median (not average) price recently is 100K -- the forclosures pull average down, non-forclosures are listing in 120/130 range. But there has been strength in foreclosure sales with prices getting bid up. I had to twist my realtor's arm to show me these homes and did most of the foot work myself since he dismissed the area...same for the mortgage lender who I had to swear an oath that I was actually going to live here to get a loan.
Housing stock and infrastructure is intact and super (e.g., the park with stone lined creek, towering oaks, playground, 6 lighted tennis courts, baseball fields). More students and young/artist types are moving/renting ...a sign of renewal/discovery. There's so much more to this neighborhood than the impending Beltline...! My theory and observation of development includes natural or manmade barriers that set limits/shelter a community for development. We're Bound on the East by 75/85 corridor plus Technical college + Screen Gems (movie theater has 50 year lease to make films at Lakewood on the other side of 75/85). The main entrance to our community has a Long tract of land (30 acres?) that is owned by the Annie E. Casey foundation who has pledged to find a way for multi-use development. To the West is another major traffic corridor, Murphy/Lee running along side Railroad tracks and some industrial areas & the 488 acre Ft. Mcpherson is being closed and redeveloped on massive scale as a mixed use development. Lakewood Freeway / 166 sets a major boundary to the south as it bisects the SW quadrant inside the Perimeter of the City into north/south areas. So you can see, there is Much more going on to support the development of this community BeFore the Beltline gets here!
There are some "sketchy areas" and there is risk with any investment. I'm convinced this is a good buy and will grow with the neighborhood but I could be wrong. Even if it stays the same, and doesn't change much, I'd be happy I bought here because I have a great quality of life at a low cost. I've invested in the neighborhood by buying a few foreclosures, fixing them up a bit and renting them out. To whom? students and young professionals. One of my renters bought a foreclosure on the same street! Others who live here have also bought investment homes because they too see the potential. If you're looking for short term or to "flip" I think there's too much volatility in the market and too much risk...but I think in several years (3-5) we'll see this time as a nice opportunity.
What is your definition of "up and coming?"
My idea of marketing jive, as it pertains to Capitol View, is about overpriced properties that are stigmatized for one or more reasons - proximity to busy streets and railroads, dilapidated immediate neighbors, etc.
Otherwise, the Beltline neighborhoods, like Capitol View are "up and coming" - and when the Beltline gets here in 20 years, you can reference my vote of confidence today...
I placed a recent Q&A from Trulia Voices about "emerging neighborhoods in Atlanta" in the web reference. Check out the entire post because I run through a pretty long list of neighborhoods that "Tryska" wanted an opinion about. Here's a cut and paste of my opinion on Capitol View for "Tryska":
"Capitol View - houses that meet your basic criteria, in your price range, many on good streets with good neighbors, from Adair Park I and II, all the way down through Perkerson, over to Sylvan Hills and down to Jefferson Park in East Point - the neighborhoods west of Metropolitan Parkway might be your sweet spot"
How much do you know about Capitol View and AtIanta's other Intown neighborhoods, Househunter?
If you are Intown and want a tour, holla...
Bottom line - there are better, safer, more sure places to invest your money without waiting a decade or two to see if you made a good bet or a terrible one.
Broker/Owner - Realtor
Professional Buyers Broker
ICC Code Certified Building Inspection Expert
Yes, there is "Realtor Jive" (I like that and will "steal" it), but you should make your own decision.
Talk to people that live and work in the area. Go visit local stores. Ask the banks in the neighborhood if they are lending to people.
If you decide to live or invest there, then take the step of talking to an agent that you like, can relate to, won't do dual agency and get the stats and go see houses.
Best of luck!