Home Buying in 30092>Question Details

In2atl, Home Buyer in Atlanta, GA

My family and I are looking at homes in the Neely Farm SD. . .how solid of an investment would purchasing a home in this community be?

Asked by In2atl, Atlanta, GA Thu Feb 18, 2010

Does anyone have personal experience and/or knowledge about the quality of life and home values in this part of Peachtree Corners?

We are a little concerned due to all of the negative publicity Gwinnett county receives compared to Fulton and Cobb counties. . . just want to know if the area has stood the test of time.

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In2atl’s answer
Thanks everyone for the information--both personal and professional. It is greatly appreciated.

We are trying to view the picture from every angle and understand the variables that are involved. As stated previously, there are many aspects that we are trying to take into account with this home purchase. Coming from ITP where location/accessibility dictates desirability, it just strikes us as odd how OTP works. To us, it seems that "market appeal" and "area reputation" is based solely on CRCT scores and having an homogeneous community. The consensus that we have gotten regarding Peachtree Corners, from some people outside of the community, is that the area is being over-run by criminals and a low-class, apartment-dwelling transient population.

Now coming from ITP, and being in the Candler Park and Oakhurst areas, my family and I can attest to the fact that Peachtree Corners is a tame area compared to some of our favorite ITP locations. Why the disconnect? Some of the most desirable areas in ITP are a lot more "wilder" than anything I have found in Peachtree Corners.

My SO and I are true city-dwellers trying to setup roots in the suburbs. It has been quite difficult for us to understand the suburbanite desire. As it stands, we feel as if this purchase is not for us but for some future, potential home-buyer. The process has been very arduous. . . definitely starting to think we need a magic 8 ball.

Anyway, enough of my rambling.. . all in all, this information has been greatly appreciated.

Thanks again,
In2ATL
0 votes Thank Flag Link Fri Feb 19, 2010
BEST ANSWER
I know some Neely Farm residents. Top tier corporate execs (Fortune 500) live in Neely. The ones that I know send their kids to private school. Negative publicity in Gwinnett compared to Fulton and Cobb ??? Not sure what exactly you are referring to but it depends on the subject I suppose. For example, I've had buyers ask me to show them anything in Roswell area EXCEPT Fulton county, so I suppose it depends on who you are talking to and what concerns them.
No agent can tell you that one subdivision is better than another. We can give you examples or areas that are showing a higher desirability based on number of sales and market values. Best advice for any buyer interested in a particular subdivision: drive through it at different times of day and days of the week. Take a look around, see if the neighborhood feels right for your lifestyle and family. Are people waving as you pass? Is there a high level of pride of ownership? Do the homes appear well maintained?
I'll say this. For a neighborhood the size of NF, there isn't much turnover in my opinion and that is typically a sign that people are very happy there, which in turn affects pride of ownership and propert values.
I can tell you this from personal experience years ago, and stories of others I have encountered in this business. You can find the most beautiful, perfect home in the world, your dream home, the bargain of the century. But, if you don't like where it sits when you come home from work every day, that makes it awfully difficult to make those payments and remain content. Focus on an area, then find your perfect home. If Neely Farm speaks to you, that's great.
You received some good advice already from another agent. If you don't already have your own buyer agent, find one. Buyers who think they will do better on their own, make common missteps, are often taken advantage of, or miss something substantial during the transaction that they may not even realize until after closing, if ever. It costs you nothing to be represented. Why not take advantage of a professional's time and advise, at no cost to you?
Good luck with your purchase.
Web Reference: http://www.mysouthhomes.com
0 votes Thank Flag Link Thu Feb 18, 2010
I have been in Peachtree Corners since 1996 and am a native Atlantan and the Peachtree Corners/Neely Farm area is one of the best areas in Atlanta to be. Great community, great schools both private and public nearby. I sit on the Foundation Board of Norcross High School and also the Board of Norcross Soccer Academy and I can tell you the parent involvement and the kid involvement make it a great place to be. My daughter and son have thrived in the community and made great friends. Neely Farm is a well run community with great facilities and neighbors. As in every county including Cobb and Fulton there are parts of the county not as good as is the same in Gwinnett. But Gwinnett has lower taxes than Fulton was named two years ago by Sports Illustrated as having the best public sports park system in the nation and Norcross High School is in Newsweek's list of top 1000 high schools nationally. In addition Pinckneyville Middle and Peachtree Elementary are both International Baccalaureate schools. You would not at all be making a mistake by buying in Neely Farm.
1 vote Thank Flag Link Fri Feb 19, 2010
I've sold many homes in here and appraised many others. The community predated the boom and when that boom hit many buyers in the price point went with new options. This and many other communities like it (Sweet Bottom, St Ives, CC of the South, Sugarloaf to name a few) took heavy value hits. During the crash many of these owners were over extended so there was a presence of distressed homes in all.

I ran data for the community as an appraiser will - median proces are off from highs, things seem to have settled since 01/12 and medians seem to be around 450+-. I wouldn't expect any major increases any time soon, these homes are aged and in need of updating. Even then, they will have a tough time competing with newer homes. Good lots and location though.

As far as schools and the area, there is definately a wide mix of median values anmd demographics. I don't know many buyers - if any - telling me that must be in these schools.

The data speaks for itself - all depends on what you're looking for. I know the area and community very well, my site is below if I can offer further help -

Hank
Web Reference: http://www.hmtatlanta.com
0 votes Thank Flag Link Fri Jan 3, 2014
Neely Farm is right down the street from our office and is a beautiful subdivision. It is always best to check how the school systems rank if that is important criteria for you.
0 votes Thank Flag Link Mon Dec 30, 2013
While there's not a better site that Trulia for the ying and yang banter with questions like this, agent comments like the "best place ever", "wonderful area", "best schools" and similar accolades are tossed around to the point of being meaningless - and let's not forget the "lived here all my life".....this observation isn't unique to this question, I see it everywhere.

This is a two part question - let's agree that PC is awesome, that doesn't address the trends. This area has suffered from the adjustment in prices and retreating market, most areas in North Atlanta have. From an appraisal standpoint (again - data with no opinions) values are well off the peaks and that trend will likely continue. Micro markets in NAtl are holding and a rare few have seen modest increases - and those are typically driven by schools, convenience, market appeal and area reputation.

I won't open the can of worms on schools but I can and do run very specific appraisal type data analysis for my folks that clearly demonstrate those areas that are doing better than others. In my experience - and with no dog in this fight - there are many areas in Fulton and especially Cobb that have weathered the storm and will do better in the long run than PC.

In2 asked, the fans of PC have spoken and those living there are expected to be advocates; no one seems to be down on it. However, probably the more important side of the question is what the anticipated future performance and the data tells me that there are better communities and areas to bet on.

Again, I'm answering the question from a purely analytical standpoint - I know emotion and all of that plays into it, but we all might want to see where emotional buys landed many distressed homeowners. Buy with your head, not over it.

Hank Miller, SRA, ABR
Associate Broker & Certified Appraiser
Prudential GA Realty
678-428-8276
0 votes Thank Flag Link Fri Feb 19, 2010
I moved to Peachtree Corners in 1983, raised two kids here that are now doing great in college. I love our schools, the community involvement, my neighborhood HOA, UPCCA (United Peachtree Corners Civic Association), our churches, the new Aquatic Center, the Arts Center, shopping, restaurants, parks, soccer fields, NYSA, baseball fields, Jones Bridge Park, the Chattahoochee, the Forum, Boy Scout programs in the area, being close to I-285 & I-85, low taxes compared to Fulton just over the river, great nieghborhoods and my great neighbors.

Why live anywhere else.

Mark Lackey
Associate Broker
EcoBroker
Atlanta Housing Source at
Solid Source Realty, Inc.
404-886-8789
0 votes Thank Flag Link Thu Feb 18, 2010
Thanks Russ. . glad to hear that.

I apologize for the name mix-up. My SO has told me that I am sometimes terrible at multitasking. . .was trying to watch the Olympics and type at the same time.
0 votes Thank Flag Link Thu Feb 18, 2010
Thanks Stephanie. . .just the information I was looking for!!

We do have an agent. . .he assisted us with the sell of our home (ITP) in July '09.

Finding a home OTP has been very "interesting" to say the least. Just wish we could get more informative answers from the residents in the areas where we are searching. It seems that any and all of our conversations regarding neighborhoods have been centered around which schools are rated higher on greatschools.net. And as much as we would like to buy in a "good" school zone, we do not want that to be our only reason for buying. We do not want to become a slave to our home and its location. But we also do not want to make a mistake and purchase a home in an area that is on the decline. . .which some people on certain forums will have you believe is the case of Peachtree Corners and Gwinnett county. Even our agent has shown a preference for N. Fulton--and certain parts of Dekalb county--over Gwinnett. So, this is why I have come here. . .because I would like to obtain additional information about Gwinnett county and Peachtree Corners.

Thanks again everyone for the information. . .it has been very helpful.

PS. I love you statement about finding the right house in the wrong place.
0 votes Thank Flag Link Thu Feb 18, 2010
It is Russ that lives in Peachtree Corners:
I am very happy that is why I built in this area and have stayed for this long.
I was a builder/broker then and for past 15 years been an active real estate investor and home inspector.
I could have flipped this house many times over the years and built again to a new area.
Gwinnett taxes are lower than Fulton, probably the best schools in gwinnett, close to nice shopping, private school and the atlanta athletic club.
Resonable commute since in my family I do most of the driving for work.
We have many friends in this community and all are very happy.
In my subdivision it is not uncommon that families move within the subdivision, they do not want to leave it.
Would be happy to discuss off air if additional questions:
Good Luck, welcome to the community.
Russ Garmon
0 votes Thank Flag Link Thu Feb 18, 2010
Thanks Russ and Hank.

We are currently renting in 30350 and are quite familiar with the PC areas. Also, I understand that Simpson is considered to be better than Peachtree when test scores and transient populations are taken into account. Unfortunately, we have not been able to find anything that fits most of our requirements.

Our agent has given us quite a bit of information--including comps. . .but we do not want to limit ourselves to just one source. . . especially considering how inconsistent the market is right now.

Hank: Living in Peachtree Corners for 20 years, how has the community changed? And where do you see it in the next 5-10 years? It is so difficult to obtain positive information regarding Gwinnett county. . so would truly appreciate your thoughts as a resident.

Thanks
0 votes Thank Flag Link Thu Feb 18, 2010
I live in Peachtree Corners and built my house 20 years ago, I am in the Duluth 30097 area.
The best elementary school in this area is by far is Simpson, I would encourage that area from a future investment as your question asked.
This area has some good stable subdivisions considering the real estate market everywhere the past 2 to 3 years.
Have your agent look up price range in this area with the elementary school of simpson and take a drive and see the community, it is not big.
See which subdivision works for you.
Russ Garmon
770-368-8151
http://www.garmonrealestate.com
0 votes Thank Flag Link Thu Feb 18, 2010
In2 -

I would think that's a question for your agent? At the risk of sounding like an NAR shill, this is something that they should be able to handle. If you've asked and either didn't get an answer or the agent is incapable of laying out the data that you want to see, get a new agent. If you don't have an agent, get one as you want representation and it costs you nothing.

Back to the question - this is best answered from the appraisal side of the fence. If you'd like an opinion based upon the data that an appraiser will see (as you said - data that will show if the area has stood the test of time) drop me an email. A little tease - just for the community (small pool of data so it needs to be tempered with area data) values are off -35% from 2/08 to 8/09....That test score isn't all that good.

Hank Miller, SRA, ABR
Associate Broker & Certified Appraiser
Prudential GA Realty
678-428-8276
0 votes Thank Flag Link Thu Feb 18, 2010
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