vicbeh, Other/Just Looking in Atlanta, GA

Looking to purchase a home in East Point , GA. Some prices on the low end $50-80,000 while some are over $130, 000 in the same neighborhood. Why?

Asked by vicbeh, Atlanta, GA Tue Oct 2, 2012

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7
The difference in prices could most likely be due to foreclosures & shortsales..have you been preapproved yet & howmuch are you willing spend in that area. Call me so we can go over all the specifics. Kaylane Peters. Keller Williams Realty Metro Alt. 504-373-9696
1 vote Thank Flag Link Tue Oct 2, 2012
Call Dustin Drabot. He is a fantastic realtor who lives in East Point and knows everything about the homes there! Dustin's phone number is 404-507-2267.
Good luck!
Sherrie Crow
Keller Williams Realty Metro Atlanta
1 vote Thank Flag Link Tue Oct 2, 2012
I agree with Andrew and Sherrie's recommendation to hire Dustin Drabot with KW - he's one of the few Realtors who truly specialize in East Point.

I wrote an article called "What happened to East Point" in October 2008 and it is in the web reference.

I think that that you thinking in far too general terms and so do most of the folks who repsonded to this Q&A.

Hire the right Realtor and if East Point is IT for you, then you can get more immediate and relevant data that supports an informed decision about an East Point house, if you hire Dustin or another Realtor as good as him...good luck finding one as good as him for EP...
0 votes Thank Flag Link Tue Oct 2, 2012
Your bank will require an appraisal as a prerequisite to getting a mortgage for the home. A good agent will make sure that you are protected so that you are not locked in to pay more than the home is worth.
0 votes Thank Flag Link Tue Oct 2, 2012
So with all of the described varibles how does one know if they are paying too much and whether the home will appraise for the asking price? I just don't want to pay too much.
0 votes Thank Flag Link Tue Oct 2, 2012
East Point is a great area and values vary depending on specific neighborhood, proximity to East Point's Downtown area, and the age, condition, and level of renovation of an older home. At the same time, my colleagues below are correct that there distressed sales, foreclosures and short sales, likely account for many of the lower prices of homes sold. Even so, East Point was going through a period of great improvement before the recession started. I believe that as the economy recovers, East Point will soon be on the rise again. It's proximity to Downtown Atlanta (say 20 minutes or so), being on the MARTA line, having its own Downtown District, and being close to the Airport, plus all the beautiful, historic homes, make it a great place to buy now. If I can be of any help, please let me know. Thank you and I wish you all the best in your search! Andrew Gilbert, Keller Williams Realty (404)909-5037/ andrewinatlanta@gmail.com/ http://www.andrewinatlanta.com
0 votes Thank Flag Link Tue Oct 2, 2012
There are many reasons why prices in one neighborhood can vary so drastically. Most times the really low prices are a result of short sales or foreclosures. Higher end homes are usually more renovated than their neighbors. This phenomenon is in every Atlanta area, not just East Point. Fortunately the up side is that this is a direct result of a market slowly repairing itself.
0 votes Thank Flag Link Tue Oct 2, 2012
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