Home Buying in Johns Creek>Question Details

Buyer2011, Home Buyer in 30005

Johns Creek walk: Any advice?

Asked by Buyer2011, 30005 Mon Aug 6, 2012

We found there were couple of house on sale in Johns creek walk. These were single family houses. Upon further research noticed Johns creek walk contains Apartments,Townhomes and single family all sharing the same community facilities. I am bit surprised with this as I find most of the SDs are not mixed. The HOA fee must be high too. Can some one suggest what would be the resale of SFR houses in such communities? Please share your insight.

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Hank Miller - Broker/Appraiser’s answer
Here's a look at the stats for the area in general - http://hankmillerteam.com/atlanta-real-estate-conditions/joh…

To get to the level you want requires a bit of research and analysis - email me if you want to chat.

Hank
Web Reference: http://hankmillerteam.com
0 votes Thank Flag Link Mon Aug 20, 2012
Yes. The HOA fee is bit high $2900/year. Not sure if they cover weekend pool parties with that :) . For your question I will leave it to pros like Hank to answer.... Good luck..
1 vote Thank Flag Link Mon Aug 6, 2012
Thanks hank.
All:
What would be the resale potential? I gather the schools are good. There is one house (non basement being built) at 420+, couple of houses at 495+,595+ . Seems like these houses at its peak sold at 600+. I know those values never return. But wanted to know if buying low 400s is still a good buy. Not looking for a profit, but looking at re-sale potential and not loosing heavily
0 votes Thank Flag Link Mon Aug 20, 2012
Are we talking about the community at Abbotts and Medlock Bridge?

If so, the detached units in there have dropped significantly over the last 4-5 years. The mixed use/mixed design concept isn't unusual and in fact there are popular upper end (300K+) complexes like this. This is a desirable one as well. There is of course, a however....

Any buyer looking to spend 300K+ or so on a detached unit in a cluster mixed use community like this needs to understand that the attached units will likely cap the value of the detached units. These are designed for a target audience, most appeal is to older empty nesters and that type of buyer will also consider attached units.

These complexes typically have high HOA as landscaping, exterior maintenance, etc are usually included. I always counsel that if you're interested in something like this be certain to understand the pros and cons. There is an appeal but there are also unfinished communities and we have seen these types of units roll into foreclosure (and I've completed appraisals on them for lenders). It's almost as if builders saw a little interest and ended up flooding the market.

Hank
0 votes Thank Flag Link Tue Aug 7, 2012
Yes this is the sub division on Medlock and Abbotts.
The HOA is at $2900 seems the highest I have seen so far
Flag Tue Aug 7, 2012
Thanks fultoncrazy. 2900/ is high :(

Any advice on the question I had. Its a mixture of apartments, th, SFRs. What would be the potential for resale
0 votes Thank Flag Link Mon Aug 6, 2012
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