Home Buying in 30005>Question Details

Shakti, Home Buyer in Alpharetta, GA

Will Alpharetta fulton county , GEORGIA, new home prices go down or up in near future ?

Asked by Shakti, Alpharetta, GA Fri Apr 11, 2008

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6
Prices are going down according to:

http://www.trulia.com/real_estate/Alpharetta-Georgia/market-…

Ramping unemployment and mortgage rates will reduce the price of homes going forward.

Did I mention that Fulton Co. has exorbitant tax rates?
0 votes Thank Flag Link Sat Jun 20, 2009
I asked my Magic 8 Ball, and it tells me to ask again later.

In all reality, new home prices, particularly in brand new neighborhoods may tend to vary more than home prices in established neighborhoods.

Established neighborhoods that have been built out have a history of comps.
For example:

Model-A with the basement and bonus room in neighborhood X goes for $300,000 +/-
Model-B with no basement goes for $240,000 +/-

That is because over the past year 3 model-A's sold in that neighborhood for about $300,000 and 4 model-Bs sold for about $240,000

In a new neighborhood, the prices are set by the builder/developer. The history of comps is not typically there, so if they get lots of orders in short order, they may choose to increase the price. If nobody is purchasing them, they may lower the prices. They have greater flexibility in pricing because they are dealing with more volume.
0 votes Thank Flag Link Wed Jul 2, 2008
I just asked my Crystal Ball and it says yes.
0 votes Thank Flag Link Tue Jul 1, 2008
I have a 3/Bed 2/Bath on 1+ acres with 2 Outbuildings. I will sell for $199,000 now but when the market gets better-not less that $250,000 All newly renovated with refinished oak and pine floors throughout. Front Porch/Back Deck-an absolutely beautiful home in Alpharetta Horse Country 30004 zip Milton HS I can be reached at cmcclimon@comcast.net or 404-729-9307
0 votes Thank Flag Link Tue Apr 15, 2008
If we had a crystal ball we could give you the correct answer... but as real estate agents we can only give you an opinion. But our opinion can be based on facts. Some price ranges and areas even in Alpharetta have not gone up... but in general, Alpharetta is a very desireable area in that it has excellent schools, and shopping. You also want to see if an area is creating jobs... that creates demand and with demand for housing comes increases in price.
0 votes Thank Flag Link Fri Apr 11, 2008
Shakti,

Alpharetta really hasn't seen much depreciation at all, and should continue to be a metro Atlanta leader in appreciation for years to come. Only parts of Buckhead and Altanta perform better.
0 votes Thank Flag Link Fri Apr 11, 2008
Joshua Jarvis, Real Estate Pro in Duluth, GA
MVP'08
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