Home Buying in 30363>Question Details

Xw, Home Buyer in 30363

There are some townhouse at Atlantic Station for sale for months, will the price drop more?

Asked by Xw, 30363 Thu Dec 31, 2009

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The prices in Atlantic Station will continue to drop because of the bulk of properties in mortgage issues. The Element and Art Foundry and Twelve are prime for acquisitions Now and in the near future due to. I know a few properties in these locations that have motivated sellers looking for any opportunity to remove themselves from these properties. Good luck and let me know things workout! Thanks for the question. Keep them coming.
0 votes Thank Flag Link Tue Mar 8, 2011
I would run - not walk - from Atlantic Station and from most attached homes in the Atlanta market. The area is so overbuilt with them and the forecasts were so skewed that not only will you see continued foreclosure auctions, you will see many more of those "complex/building" auctions run by aucton companies.

If you are in the buy mode for an attached home you are buying a depreciating asset and that trend will continue for the foreseeable future. You may be able to get in a what appears to be a good "price" but remember that you will be twisting when it's time to sell. If attached homes are a "must" then look at renting. If you want to buy, look at area detached homes.

Hate to be the bearer of bad news but that's the situation as I see it - both from the broker side and as an appraiser around here with 20 years experience! Let me know if you need further guideance.

0 votes Thank Flag Link Fri Jan 1, 2010
that's really anybody's guess. Is it likely, yes. Most sellers, even builders, banks or owner occupants have no motivation to carry a property indefinitely. However, motivation varies and it could remain at the current price for a very long time. The other possibility is that it will never drop because the seller is upside down. Could be a last attempt to sell short of foreclosure. Bottom line - you just have to keep an eye on it to see what happens.
Web Reference: http://www.mysouthhomes.com
0 votes Thank Flag Link Thu Dec 31, 2009
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