Thanks for your input guys! I will let you all know what comes out of it.

Hi 1stime,

Hank brought up some great points which should be considered. I commend you for seeking advice before making a firm decision. Without actually seeing this house it truly can't be assessed.

First you asked if this is a bad investment. Value of an investment is much different from value of you place on your personal home. The features you describe can affect the resale mainly due to the number of buyers you could attract and would not view these as negatives. You yourself were not that sure... that you needed to ask. The best offers on any resale in any market occur when multiple numbers of buyers view the property as having "unique livability" and are willing to make an offer and or competing offers. One reason builders will place special amenities in home with poor lots.

In my experience, my clients know immediately when they found the home of their desire. There too, no home will have all the ideal features you envision. Each will have pros and cons. I as an agent cannot tell them which is right. The value of any "home" is personal. If all other factors work... consider; 1- what you pay for this house today and 2- the length of time you'll stay. The whole investment issue could be relative to the value you receive in the long end.

A good Realtor will provide you with the information you need to make wise decisions. Also, help you to determine what is a pro and what is a con according to your own perspective.

Good luck,
Robin Lanese, REALTOR
ABR, Accredited Buyers's Resprentative
CRC, Certified Relocation Counselor
REOS, Real Estate Owned Specialist
Solid Source Realty

678-231-1412
Robin@RobinLanese.com

Hank's picture make look a bit strange but his advise is dead on.

You may need to change your screen name to LongTime if you buy it. Your next question wil be "how do I sell....". For me, this question is like asking "should I buy that Porsche, it's awesome but there are no seats and no engine".

He's my call (and note these are issues for you to consider when you SELL):

1. With no backyard and what sounds like a high deck(s) you're looking at immediate issues for families with kids. Some parents will see them taking headers off the deck or having nowhere to play. Same for pets.

2. Not many people want to wake up and watch the sun rise or set over the retention pond. Clearly you're at a low point for the community and those pits are usually ugly weed infested collection points.

3. With moisture come smells, mosquitoes, snakes and kids that you are constantly telling to stay out of there.

4. Since the home sits on one of the worst lots in the community the builder might have jazzed it up a little to get it gone. I can add tile, granite, built ins....I can't make the lousy setting go away.

I suspect you might get a good buy on it, just like we've been getting good buys all over for clients for the last three years; there's no shortgage of smoking deals if you know how to find them and close them. There's no reason, including this being a "good value for the money" to set yourself up for a beating later down the road. Also, how do you know it's really a good value - or what constitutes a good value?

I've been appraising and brokering property for twenty years, there aren't many guarantees but I can tell you from doing both that I wouldn't advise a client to settle for a home as you describe in this market, there's no reason. As far as a "good value", it better be well below the median for the community and area comp-wise and you better understand that you'll be giving it back as you slice it up to sell it later down the road.

Unless there's something missing in your post that justifies this, I'd steer clear. If you want to drop me a line with the address I'll give you a more detailed look, I can run it from the appraisal side and break out the detail far sharper than a standard look. Remember that it's easy to get in but this will be hard to get out of.

Hank Miller, SRA, ABR
Associate Broker & Certified Appraiser
Prudential GA Realty
678-428-8276