When you say Druid Hills are you asking about the area known as historic Druid Hills or are you talking about the area around the Target at North Druid Hills and Briarcliff. Most of the replies here are talking about the historic Druid Hills area which is between Emory University and Ponce DeLeon. There really isn't a Target near historic Druid Hills.

Whichever you are talking about, I would say that although nobody has a crystal ball, the price of gas is going to insure that the homes or condo's in close in Atlanta will probably hold there value pretty well over the long run.

In terms of a condo built in the 1980's there are several things to watch out for. There were some issues with siding with homes built in the mid eighties. Louisiana Pacific and some Georgia Pacific sidings were a composite board that had a glue that did not hold up to any kind of water penetration and would swell and de-laminate if there were any kinds of leaks. There was also quite a bit of synthetic stucco which has it's own set of problems. So an inspection with a qualified inspector is important. Also with a property of that age the roofs are coming to an age where they will need to be replaced, so looking at the condominium's budget and financial statements is crucial in deciding if you should buy. Make sure that there is enough cash reserves and find out if the roofs have ever been replaced.

The other issue to check in owner vs renter ratio. This affects the types of loans that are available which may or may not affect you, but will affect the marketability of the property if you ever need to sell!

Sun May 18 2008, 13:15

Condo popularity depends on a lot of things. First, and most important, is location. If it's a great location where people want to live, it tends to hold its value. Second, is quality. There is an extraordinary diversity in the quality of construction from one development to the next. For instance, in Midtown, The Dakota is recognized as being well-built whereas condos built as apartments during the Olympics were cheaply made and that shows. So while The Dakota has held its value and units in it still tend to sell quickly, other buildings have tons of units for sale that sit on the market. If the condo you're looking at was built well, that's another point in its favor. Third, you have floorplan and amenities. People want certain things when they are buying a home -- kitchens and baths are very important, a master suite is very important, closet space is very important. Amenities -- if they are of high quality and good design -- are also important, as is parking. Just because something is 20-30 years old doesn't mean that it's worse than something that's newly built. You need to evaluate each property to determine its strengths and weaknesses. Things to look for before you buy -- how many units in this complex are currently for sale? What's the average days on market for a unit in this complex to sell? Are prices staying level, trending upward, or trending downward? What other options are available in the same price range in that neighborhood? How are these other options selling in relation to the complex you're looking at? If you don't already have one, find a really good buyer's agent who can help you assess all the variables and assist you in the process to get the best deal possible. Good luck!

Sat May 17 2008, 12:06

Condo, loft and townhome living is a lifestyle choice much moreso than a real estate investment.

There are many advantages over being tenant - being a tenant in a buyer's market is what is crazy!

Close to Target...cool.

Get your real estate on.

Sat May 17 2008, 04:01

Ki,

I usually don't reccomend buying condo's because of the difficult resale. Druid Hills is an exception. There are many older condo's in that area so be picky about the condition, location, & overall status of the complex.

I worked in the Druid Hills area for many years and know the area well and the potential for resale there.

Let me know if I can help you in any way or give you my opinon on the development you are considering.

James Dudley
ERA Sunrise Realty
678-781-7418
james.dudley@era.com

Fri May 16 2008, 17:43

I don't think it is crazy at all. A good market research comp will be able to tell you how to structure your offer.

I will provide you a link to my award winning website http://dwellatlanta.com/. Feel free to browse around. If you have any questions or want detailed market data, please don't hesitate to contact me.

Jason + Associates
404.895.9618

Fri May 16 2008, 16:26

It really depends on the price. Let me know if you have any questions, feel free to call anytime.

Alex Wilkinson
Phone: 678-776-0135

Fri May 16 2008, 11:51