Market Conditions in Smyrna>Question Details

Netdragon, Home Buyer in Smyrna, GA

Why are people dumping condos right now in the 30080 zip code at the same time as all other homes are going up in value? Is there an explanation?

Asked by Netdragon, Smyrna, GA Mon May 6, 2013

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Historically in our area, condo's has lots of advantages but one of the disadvantages is that they are not as good of investment as single family homes. Need more information bscyphrs@aol.com.
0 votes Thank Flag Link Tue May 7, 2013
Inventory levels are low in many areas. In response ot that, many sellers are listing their properties for sale after sitting on the sidelines as values declined for the last 4-5 years. Condo values are still rather depressed though.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes Thank Flag Link Tue May 7, 2013
All real estate markets are hyperlocal, so which buildings are you talking about?

In general, condominiums in many submarkets have been a declining, use asset - a lifestyle choice that usually beats renting, however not a viable real estate investment vehicle.

So, over almost 30 years, the median price of condos in the metro Atlanta market has either been very flat or in decline.

Ask your Realtor for a chart on that...
Web Reference: Http://intowninsider.com
0 votes Thank Flag Link Tue May 7, 2013
..and why don't agents that see them underpriced contact the seller and try to take over for a seller's agent that's doing a poor job.
Flag Fri May 10, 2013
Older condos off Spring rd, spring hill pkway and Atlanta rd. I am a landlord there with a renter that just renewed his lease. Yay!

Inventory is down yet a few morons seem to dump tens of thousands below everyone else for no reason (it's like they are competing with foreclosures). Don't their agents do their jobs? It's a nice area so it makes no sense.

I'm not thinking of selling the property I rent out because they are great for renting, make me a lot of cash, and I'm already approved by the HOA (grandfathered in) to rent. I just wish someone could explain to me why people dump in a seller's market like this.
Flag Fri May 10, 2013
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