Wow Lance,
Seems like you have gotten a ton of answers with lots of conflicting info. I am not a Realtor so this answer is strictly from a Grant Park resident/Architects point of view. I love Grant Park, it is family friendly and full of great neighbors. I live inside i-20 which some people do not consider as a real part...but it was part of the original property deeded and my home was built in 1905. Some time in the last century the city came through and built I-20 effectively cutting part of the neighborhood off from the rest. On the upside my part is only three blocks deep and three blocks wide and I can say that I know 80% of my neighbors by name! We had our home listed last year for 3 months but took it off the market when our son was born. I am so glad we did, I have had the opportunity to join SAHM groups and really get to know the area. This area has a boon of homes built between 1900 and 1920, lots which are in need of renovation, some that have been renovated and are move in ready and lots of bad contractor flips which need work to make right. I think most of the recent homes selling for less are the bad flips, bank owned and shells. The handful of pristine remodels have been listed and removed because we now appear over priced when we really aren't. As soon as those bad ones are off the market the prices will stabalize and those of us who wanted to sell the good remodels can. If you want to remodel and sell make sure you start the job by getting a realtor who specializes in Grant Park, not just intown and then hire an architect who has experience in historic homes. Do the job right and in a few years you should reap the rewards. As for Zwillow as some people have been quoting, they have the Grant Park Boundries wrong which makes their "Zestimates" all kinds of crazy. Good luck! If you want a 4/3.5 with off street parking give me a shout or if you need an Architect's opinion on a structure email me.
Sara Micheletto, Micheletto Designs

Yes, Ramiro - I live in East Point so it is just one of the areas I am active in. I also used to live in Ormewood Park. But as an intown specialist, as my team name denotes, I actively sell in Kirkwood, East Atlanta, Grant Park, Ormewood Park, Cabbagetown, etc.

Your answer however attacts my credibility without answering the question posed. They wanted to know how today's prices are in respect to prices of 1-2 years ago. To answer as broadly as possible, the prices are about the same as a year ago, and maybe only about $20,000 less than 2 years ago. Again, it depends on the home and location. As I said in my earlier response, I think the buyers can expect a better home for their money - with more inspection items willing to be addressed by seller before listing and during contract negotiation.

It is my advice to find the right home in a neigborhood to suit one's lifestyle and negotiate the best contract terms for that property.

The important thing to truly consider is that homes under 300K are probabyly a 2BR 2BA house and NOT a true 3BR 2BA House. Or, it's in a surrounding neighborhood that may be close-by, but is NOT truly in Grant Park. is an intown neighborhood that has kept it's value in this market and top-notch renovations close to the park with all the bells and whistles are listed for top dollar - and selling at a fair market price!

That's where a excellent REALTOR® can make the difference for you! Truly negotiating with detailed comps and data that is specific to homes you may be interested in. That is where you'll find the true VALUE!

For example, Joan Macaluso lives(works) and is very active in East Point. If I had someone seriously looking in East Point, I'd refer them to an agent that specializes in that area.

Ramiro Garcia | Grant Park Homes Expert

Unfortunately the local media is reporting national statistics versus local ones. Perhaps because so much varies even within the Atlanta market. Fortunately for intown sellers and realtors, sales are still stronger than some areas of Atlanta and than the national average.

As per your specific question - prices today versus 1-2 years ago. Basically, you can now get into Grant Park for under $400,000 and even under $300,000 depending on how close to the park you want to be and what size home you are looking for. More importantly, you are getting a better home - sellers are doing repairs prior to listing and sellers will make concessions in favor of closing a contract that 1-2 yrs ago they would not have made.

If you don't want to lose money - hire a realtor who knows the intown markets and will negotiate on your behalf, and plan on staying in your home for a minimum of 3 years. Don't cash out equity from your home to pay down debt or buy a car - if you cash out money from your home, use it for improvements with strong returns. All of the horror stories don't tell you the foolish things people do. I see it every day.

Call me - I will protect you.

Hi! I am selling my house in Lawrenceville, but it has been not sold since last July. I changed couple realtors. It makes very stress for me. How do you think why my house has not sold for 10 months? One house in the same are was sold very quickly. The house has no problem and it's clean like new. What do you think about it?

I have sold several properties in the Historical District of Grant Park. What a beautiful area you have chosen! The Atlanta market as a whole has seen a decrease in value over the last several months mostly because of foreclosures. Obviously, when properties are sold in foreclosure or are sold as a REO ( Real Estate Owned) or bank owned property, the objective of the bank is to move this non-performing asset off the books as soon as possible resulting in reduced prices. Homes that are currently for sale by "Home Owners" are holding their values quite well.
Grant Park has a Neighborhood Association please check this web address http://grantpark.org/core/item/page.aspx?s=848.0.35.20
Being an agent and former owner in this G.P. community, I would be glad to assist you with any questions and / or concerns.

Actually, by working with a REALTOR® whom can guide you and negotige with consultative advice, that's where the value truly is! This seems to be mis-understood by many and that is very unfortunate. I have many happy clients that can vouch for me and are happy with the homes they have purchased - the key is I work in areas that have and are rising in value here in Atlanta because we as a community are so actively involved in improving the quality of life of where we live.... That makes a huge difference!

Ramiro Garcia | Guiding You Home
http://www.GrantParkExpert.com

This is my first post on this site, but I read these things occasionally. If you're only going to be here a few years, even in a good market you wouldn't do well with the realtors fees on both ends. Aren't you supposed to try to stay for 5 yearsish in order to recoop those costs? If you can't commit to more than a few years, I'd say keep renting.

Just my two cents, worth probably close to what you paid for it.

Lance (updated),

Projections for Atlanta is that we will be coming out of this "dip" in a big way in 2009, so you better buy now.

Let me ask you: When do you know we have reached the bottom?

Answer: After the bottom has already been found (and we are working our way back up).

There are deals out there, if you have a mindset to keep the home 3 - 5 years you should be fine!

Lance, welcome to the neighborhood! I think you'll be here early April, right? Glad the power lines were not an issue for you. You'll be close to the park and there will be more restaurants and even a skate-park in the Boulevard Crossing Beltline Park.

I just wish i had more money in the bank. I would be buying every piece of real estate out there. I am in the short salearena and we a finding bran new homes that we selling for 400k to years ago, now are selling for 150K. Absolutely amazing.

I just happened on this website, and thought that I would respond to your question. I am not a real estate professional, so take anything that I say as being only the opinion of a layman.

My wife and I have lived in Atlanta since 1984, and know the city quite well. I have always liked the Grant Park area...one of its attractions is the proximity to downtown Atlanta. One of the factors to consider with any location in the Atlanta metro area is the mind-numbing traffic. I worked in the downtown area for 23 years, and always had a short commute of around 5 to 6 miles each way. I know that my quality of life, versus my associates at work who had long commutes (e.g. 20- 30 miles one way) into Atlanta from the suburbs, was markedly enhanced due to the reduced amount of time that I had to spend in my car every day.

One thing that you may want to consider are other neighborhoods which are relatively close in to downtown...such as the Sagamore Hills area of Atlanta, which also has relatively good public schools (Oak Grove Elementary, Lakeside High School, etc.)...I have lived in that area since 1984, and have really enjoyed it. The style of homes in the area is very different from Grant Park...mainly 1950-70's ranches, and new infill.

Atlanta has not experienced the irrational "bubble market" in real estate prices that other areas of the U.S. have experienced. The compound annual return on the homes which I have owned in Atlanta 1984 to present is 4.2% per year, which is modestly above inflation.

Bottom line, try to find an area which minimizes your commutes...it will make a big difference in your quality of life. Also....avoid buying a house with a big yard which requires watering..some of the counties in the Metro area currently have some pretty tough restrictions on outdoor watering.

BEST ANSWER
I'd say anyone living in a big city needs to be smart in how they 'live' and be realistic about a Metropolitan area. Many neighborhoods are going through improvements and changes - JUST like Grant Park has!
A perfect example of this is Boulevard Heights just South of Grant Park and the proposed Beltline - See http://www.MorleyAve.com - Furthermore, the Boulevard Crossing Park is APPROVED and demolition of the current site has started! This is south of Grant Park in an up quickly coming area! We've been working hard to make this happen as a stakeholder here in Grant Park. see: DweLLintown.com for details.

Seems like this IS the time to buy unless you aren't planning on living in the house more than 10 years. Prices in Grant Park right now, for a small house, start at 300-400. The bigger, fancier old houses are in the 600-800's. Look out the fringes of Grant Park. Some of areas look like good deals but the areas can butt up against a crime riddled neighborhood.

Barbara: The California market, and especially Vacaville, IS very different from a Niche market like Grant Park! Grant Park has historical designation from the National level to the local city level. We have beautiful Victorians and Craftsman Bungalows and few infill left to be built -all with design standards.

Furthermore, it is centrally located to all intown neighborhoods and boasts an award winning Olmstead Firm designed Park - all nestled in an urban environment. Most families would move when their kids were of school age, but we have changed that! There are 3 charter schools and one more in the works, a new high school in an old Historic Church. I'll be adding more info about the neighborhood shortly, stay tuned.... Thanks! (See my previous Posts)

Grant Park stradles two zip-codes: 30312 to the South and 30315 to the North, so your Zip Code trends are out the window! Just as the incorrectly marketed homes that are not even remotely close to Grant Park - That in itself tell you how desirable the neighborhood has become over the years! There is a new park just south of Grant Park called Boulevard Crossing Park, more retail and restaurants along and near Memorial Dr. We have an active Parents Network, Neighborhood Association, and avid group participating with the Grant Park Conservancy! Feel free to visit my web-site and do a search and register for a Search-Saver and I'd be more than delighted to email you the recent SOLDs showing how the neighborhood is STABLE and going UP! a 2BR 2BA grand Victorian just closed on my street in the mid 400's and a larger home in the mid 500's here on Grant Street! - Ramiro Garcia JRgarcia@kw.com | http://www.DweLLintown.com | See the About-Me on my web-site and you'll see how vested and involved I've been in Grant Park!

Grant Park has a lot to offer, and prices have pretty much leveled, more than dropped. None of us have a magic ball, but I would expect prices to drop slightly over the next couple month. However, with the government packages of money due to arrive on our mailboxes in April/May + being an election year, then I wouldn't wait too long. We're all hoping for a boost in the economy, which = a boost in the housing market --- If you and your wife would like to go out looking at what you can get at different price points then I'd be happy to meet with you: 404-323-9976 or sarah.turner@yourownsanctuary.com

Lance, Grant Park is a phenomenal Intown neighborhood! My family moved to Grant Park in the early 90's before anything was hip around here. We've been actively working on a very grass-roots efforts to make Grant Park one of Atlanta's best Intown Neighborhoods! Not only have we created and opened several progressive Public Charter Schools here, more are in the works - There's discussion of a new Charter High School to complement our Neighborhood Charter School and new Middle Charter School. Being involved in real estate as an Agent and my wife as an educator we know Grant Park will continue to move up! I have links to all these great schools on my web-site on the "About-Me" at http://www.DweLLintown.com

I am not an agent or broker. I have bought, resold, or done private investor lending on more than 50 houses in the "Grant Park" area in the last few years. Warning: The unoffical boundaries of "Grant Park" have expanded greatly in the past 5 years. The values can literally change block by block.

With that said, Grant Park is well located, still culturally diverse, and has a lot of new construction nearby, typically townhomes, or craftsmen style homes. In my opinion there is still a paucity of restaraunt, retail in the area though it has improved greatly in the last few years. Prices fluctuate wildly in the area. I would certainly look for an agent who has proven sales/purchases in the area.

As this was an area of great investor activity there are foreclosure/short sale opportunities for those willing to put forth a litlte more effort. Atlanta did not have the great runup many areas nationally did, and consequently our rundown has not been as steep. I feel that prices in Grant Park will drop slower than the national average. If you shop well in this buyers market and buy 30% equity going into your deal a one time price dip of 5% or stagnant appreciation for a couple years will have much less an impact on the perfomance of your asset.

I would reccommend that you interview several "Realtors". You need to select the one yall most feel comfortable with. They can show you the market value for Grant Park and surrounding areas. The greater Atlanta real estate market has not been affected as bad as some areas in loss of home values. If you continue to rent that is lost money. If you buy you have an additinal tax write off plus you are gaining value if you keep your property up. There are also several programs available from Suntrust mortgage for first time home buyers. The difference between what you would have paid 1 or 2 years ago is very minimal, maybe 1 to 3 %. The big difference is if you are looking at foreclosures, and that is an entirely different ballgame. Questions 404-405-6713 Curtis

I think the biggest danger is that you might still be renting 12 years from now. The national real estate market would only matter to you if you were buying hundreds of houses all accross the nation. You are instead buying one house in one neighborhood.

Does it have good schools (visit the schools or at least call them)? Is it a safe nieghborhood (call the police and ask)? How do the city parks and streets appear? How is the local employment outlook? IS the local government well thought of? How long do you plan to stay in this house (I hope five years or more)?

If it looks like these answers will be good for you then go out and look at several houses in your area with a good buyers agent, borrow your mortgage thru a good local lender that you can meet face to face, pay for a good home inspection (and be there when it is done so you can ask questions). And make a decision to buy a home for your family.

Asking if you should buy RE property in this site is like asking a barber if you need a haircut, or a car salesman if you need a new car. As someone who has been looking to buy in CA, let me offer my view.

I've been living in the same quandry as you are in for the last 6 months. It's easy to say 'buy low, sell high'. We all know that we're in the low but when you enter into a contract to buy and with the reports of prices still plunging, it's not easy to ignore them. Yahoo Finance posted a headline article about 2 weeks ago projecting another 25% price fall into the 2010. Their theory is that the RE spike that we witnessed in the last up cycle is an abberation made possible only by irresponsible and unrealistic lending. Another 25% will have to come down to meet the historical average for RE pricing. Such is their theory which I don't necessary buy.

Sad to admit, I did pull out of my contract to buy about 3 weeks ago in midst of all these negative reportings. I own a few properties, I do want to see the RE market to do well. Judging from the recent stock market rebound and the signing of the economic stimulus package ( jumbo loan limit being raised to $729k), I have reason to believe that we are near bottom. But then again, I thought so 6 months ago too.

Now is always the best time to buy. Atlanta has weathered the national marketing slump well. We are seeing signs of trending back to a seller market in the next 2 years, so your net worth as abuyer is better toady than it will be tomorrow. Having a top Producing Realtor who can interpret the market and negotiate your deal is the most important choice you have to make. What type of home will make the answer to your question more accurate and meanigful for you. I would be happy to look athis for you more closely if you wish.

I am selling my house in Lawredeville, GA because I was relocated to CA.
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Grant Park is a wonderful neighborhood. My husband and I moved into GP three years ago into a fixer-upper. It's been a wonderful place to call home and we are so happy with our decision. In Grant Park, you have several options: Buy a fixer-upper ($200k), Buy a nice place ($300k) or buy a historical bungalow on a fabulous street on the park ($400k+). The wonderful thing about this neighborhood is that there are still plenty of choices depending on what you're looking for. On top of that, Grant Park is situated on the soon-to-be Beltline and the Memorial Ave Revitalization Project. Aside from it's location, the charm and pride of its home owners can't be beat!

I can't guarantee anything . . . . I have no crystal ball . . .but I'm a believer that Grant Park is not only a great investment, but a wonderful place to hang your hat.

Lance,

I completed a Sales Analysis this week for Single Family Properties in Grant Park. I discovered that less than 32% of all so-called “Grant Park” listings sold last year. That is a percentage that holds up for most Intown Atlanta and Decatur neighborhoods right now, but when I realized that there is also a significant downward trend in prices, I knew that I needed to dig deeper. You can find a full page of analysis and commentary at the link below.

The average sales price for Grant Park has been pretty stable for 3 years in a row (around $270,000 for an average 3/2/1 house), but there was a lack of activity at the end of 2007, and an average drop in price at the end of 2007 by 10%. If the 21 pending sales right now are a leading indicator, then activity in Grant Park in the lower price range is pretty good and the average SOLD price in the first quarter of 2008 will be about 30% less than the 3 year average. The average pending sale right now is $200,495.00 for a 3/2/1.

There are currently 158 Active “GRANT PARK” listings ranging in price from a near perfect 1903 restoration on Rosalia for $799,900 to a 1/1 dump for $44,900 that’s 3 blocks from Turner Field. The lowest priced listing that truly resides in Grant Park is a 3/1 in need of work that is on Glenwood, in full sight of I-20, for $139,900.00.

Which brings me to another subject, which of these 158 houses actually reside in Grant Park? Almost half of the 158 Active listings in FMLS are not actually in Grant Park! Which means that all of this research is based on the flimsy data created by real estate agents in FMLS. You'll understand what I think about most of the 36,000 real estate agents in Atlanta when you read my column. I also provide a Grant Park boundaries map.

Get your real estate on, Lance, and beware of the so called "Grant Park" listing!

I specialize in selling properties in the Decatur area to wholesalers. Some of them are fixers and some of them are move in ready. Most of them are not listed on the MLS. We work directly with the buyers to bring them good deals. Most of our properties are desperate sellers, landlords that live out of state and people who are trying to get rid of their properties FAST. Typical sellers don’t have a vested interested in lowering the price. If they can pay the mortgage, and they don’t need to move quickly then they can wait. The prices of the properties in the mls are retail. I sell wholesale.

Our properties are generally 65%-75% LTV.
An example is a property 1 mile from East Lake Golf Course. Its a 2/1 starter home, fully renovated, 1100 square feet, hardwoods, stainless and tile for 95K comps in the area are from 140K-150K.

Go to and link and click on the link for free investment listings and we can send you the properties we are selling right now.

http://www.intownlandlord.com

My husband and I have lived in Grant Park for going on 4 years now (we actually met there!). We can vouch that it is a great place to live for first-time homebuyers and those more experienced! We have not seen the increase in housing prices that we would have liked as a seller right now. We are looking to buy a house in that area too, as soon as we sell a townhouse we have in Grant Park (link below), so I have kept a close eye on the house sales in the area. It appears most sellers are breaking even or even taking a loss right now. I've also noticed many home sellers dropping their prices like crazy too - so I definitely think there are some great deals out there and now is the time to buy. I think this area is a few years from really breaking into the "in-town" places to be in Atlanta. With it's proximity to downtown, midtown, highland, and even the airport - it's time will come - so I would definitely get in now!

Not sure who told you not to buy, but NOW IS THE TIME! We've heard the old saying, "buy low and sell high". It's LOW now.

Think about this, you will not know where the bottom is until it rebounds.

Economically speaking we will be out of the housing slump anytime between mid 2008 to 2016.

Several (5 or more) - you will be fine
Few (3) - Be very cautious.

Good Luck

Lance,

In my opinion the Grant Park "Boom" has passed. With the slow real estate market you can probably get a better deal than a few years ago, but this depends on your goals. Are you looking for an investment type property to restore and gain a lot of equity or are you looking for a move in ready home??

If you are a first time home buyer I don't reccomend getting into a "project" house unless you have had some experience with remodeling. Grant Park is such a great area due to it's investment potential. If you are looking to buy a home there that is move in ready I don't think you are gaining much just by moving into that area for sake of appreciation. If intown property is what you are looking for you may want to consider Kirkwood. There are still some great deals in that area because it's still being revitalized. Your opportunity there is probably greater than Grant Park since Grant Park more established.

Both are good places to consider intown and property resale in the city is usually a little better than in the suburbs these days. Research the areas street by street and find a good agent to help you if you are not familiar with the city. I work mainly in North Atlanta, just because that's closer to where I live, but I've helped several people purchase homes intown in the Kirkwood and Grant Park areas. I'm aware of a couple of great little homes that are still on the market that you may be interested in depending on your budget and how much space you need. Let me know if I can help.

Fortunately prices have not dropped significantly for resales in the intown market. Foreclosure sales prices will drop as will new construction homes, but resales are holding on quite well in town. If you look long and hard and jump on the right deal, you may be able to buy for 5% less than a year or two ago. My opinion based on recent experience with buyers looking to "low ball" in Grant Park around Christmas time, is that people just are not ready to accept offers 5+% off the list price, regardless of the comps you show them.