Be very careful when buying a condo. They are a good buy now, but there is no guarantee that what you buy now will sell in the future. Don't buy a condo unless you are going to stay in it for at least 5 years and keep it updated and well maintained. I believe that lofts are the very best buy in condos and the only thing that is showing much appreciation. I would try the Castelberry Hill area. Very cool, very up and coming and lots of old factory buildings that have been turned into great lofts. All price points too.

Thu Jun 5 2008, 12:06

Hi Kim, I have a condo for you: http://atlanta.craigslist.org/rfs/672925326.html

Check it out.

Thu May 29 2008, 11:36

Sara is right about foreclosures. Here is a link to all active foreclosures (condos) in the Atlanta market.

http://dwellatlanta.com/foreclosed-atlanta-condos.php

Wed May 14 2008, 20:53

You can get a foreclosure that can do all of that as long as no or minor repairs are needed or some banks do some repairs them self, I have done several homes in the past months. Downpayment assistance programs are still available even on foreclosures, FHA looks for certain things as you might have heard.
It's all about searching and finding the right home for you, it might take a little time but they are out there and you could find you one perfect for you in the right area and amenities with potential appreciation.
unfortunatly the market has hit everywhere even the "condo " market.
Hope that helps, Pauline Moore

Wed May 14 2008, 20:17

$150k... There are some cool lofts in Reynoldstown, and some 2/1 garden style condos in Grant Park, and Candler Park that are or could be negotiated down below $150k. There's also a couple cool units listed in Little 5, in the $120s. There aren't a lot of condo options in these appreciating neighborhoods, and would be a great option for you to consider if you're going to go the condo route. In 3-5 years, if the condo market isn't where you want it to be, then it would be very easy to rent.



Sarah Turner
Realtor
sarah.turner@yourownsanctuary.com

Sanctuary Real Estate, Inc.
300 North Highland Avenue Suite B | Atlanta, GA 30307
T: (404) 688-3363 | F: (404) 688-3372 | M: (404) 323-9976
www.yourownsanctuary.com

Wed May 14 2008, 19:55

Greg makes a good point. Also, when you are buying a condo you are also buying a lifestyle. No more grass cutting, or painting of a house. Depending on where you buy you will have the luxuries of a 24 hour concierge, gated parking with cameras and security, swimming pool, outdoor and indoor media rooms, gyms and much more. Here is a detailed list of some of the best Atlanta condos available http://dwellatlanta.com/atlanta-condos.php

If you have any question please don't hesitate to contact me. 404.895.9618

Wed May 14 2008, 19:29

I THINK THE BETTER QUESTION IS TO ASK WHERE YOU AS A BUYER WILL BE HAPPY. REAL ESTATE IS, ALTHOUGH NOT ALWAYS APPROACHED THIS WAY, AS A LONG-TERM INVESTMENT. BUYING THIS AS A HOME, THAT SHOULD TAKE PRIORITY IN THAT YOU FIND A PLACE THAT MATCHES WHAT YOU ARE LOOKING FOR IN FEATURES, COMMUTE, NEIGHBORHOOD, ETC, AND INVESTMENT AS A PART OF IT.

WWW.GREGSLIZT.COM
ATLANTA, GA

Wed May 14 2008, 18:59

not really- I need to get an FHA loan with little or nothing down - and I think that eliminates the possibility of looking at foreclosures.

Tue May 13 2008, 12:31

Kim,
Are you also loking for some foreclosures? There are many out there and your real estate professional should be able to locate some at a good price. You get some value already in your condo before you move in. Because there are so many foreclosures is why it is so hard to see what area will be better then the other in some years. Make sure the condo you pick is one without to many repairs needed and buy yourself a warranty so your major appliances are covered. If you want a list of some foreclosures let me know be happy to send you some or just have some more questions you can always call me as well, 404-247-0900 no obligations, just lending a hand. Good luck on your search

Tue May 13 2008, 07:32

Unfortunately my price range is at the low end which reduces my options - Im looking for units priced up to $150,000.
Thanks

Sun May 11 2008, 19:19

I agree with Lisa - It seems everyone gave her a bunch of thumbs down --- however she's pretty right on. You need to consider a building and unit with a lot of unique features and a neighborhood that isn't overly saturated with a dozen other similar units. ... If you're planning on selling 3-5 years from now, like most buyers (not as a long-term investment) then you need to be looking at buildings with multiple floorplans and high-end finishes. I would consider Grinnell Lofts in Inman Park, a place along St. Charles Avenue or Highland Avenue in Virginia Highlands, Ansley Park, and downtown Decatur. All just my personal opinion. However, if you want a concierge, pool, spa, work-out facilities, door man, meeting rooms, maybe even a valet --- then that's a lifestyle choice, and a high-rise in Midtown or Buckhead should be something for you to consider. However, don't expect as high of a return and expect your HOA dues to reflect all of those extra services/conveniences.

Need any additional advice or a Realtor to guide you through the process, don't hesitate to contact me.
Sarah

Sun May 11 2008, 13:27

Thanks for the feedback- Ive lived in ATL for 20 yrs and Ive seen what has happened with regard to condos. There are so many on the market right now and I want to make a wise choice. I looked at a 1/1 at Peachtree Commons back in 93- it was listed for $60k - the same condo now lists for around $160. So I suppose price appreciation is possible but maybe the market has topped out.
Im also looking near Emory as proximity to a college may help with resale down the road.

Fri May 9 2008, 06:39

Kim,

Here are the listings at 1010 Midtown. If you have additional questions there is a place to ask the on the site.

Thu May 8 2008, 08:35

You are making a lifestyle choice, not a real estate investment. If you buy a metro Atlanta condo, loft or townhome right now, then you will probably "resell" your place in 3-5 years for an amount very similar to your 2008 purchase price. If you choose the wrong property, it may sell for less.

Follow Lisa Crowder's advice. She knows the Intown market, and her guidance is sound.

Thu May 8 2008, 03:40

Kim,
The traffic problems/commute times should be your primary concern on where you buy. Buckhead to midtown represent good value and you will have much to choose from in these areas.
Respectfully,
Bill Pelot

Wed May 7 2008, 19:00

If you are thinking of a long term investment location, location, location (as they say) and destination in Atlanta is and, will always be, Buckhead. All of the affluent live in Buckhead by choice, traffic in our city being one of them and convenience being the other. Many commercial buildings are under construction as we speak including a luxury shopping district in the heart of Buckhead. Property owners including condo property owners are excited about their future opportunities with real estate values in the not so distant future.

It has always been my experience to choose location over all else in any real estate transaction especially when considering your exit strategy. It's a lot easy to sell location when you have location. Currently the Atlanta market is experiencing an over stock of condos everywhere so anywhere you buy you will find great deals. Why not take advantage of this and do yourself a favor by purchasing a condo that will have the best chance of appreciation and resale when the market turns around. Another words, the return on investment in the long run remains with location therefore your best investment is Buckhead.

Hope this helps.

Wed May 7 2008, 18:12

Midtown and Buckhead are both horribly overbuilt with condos for the current market. You can get a tremendous deal but if you're only planning to stay 3-5 years, you may not be able to get out what you put into it. I suggest you look in the smaller neighborhoods where condos are less common and demand tends to be higher than supply. In the intown markets, I'd say Virginia-Highland and Inman Park are pretty good choices. Downtown Decatur is also a strong market, providing developers don't start going crazy with new buildings (the new ones proposed at the moment tend to be mostly apartments). For the most part, I'd stay way from all the big marquee buildings in Midtown and Buckhead. 1010 is the best deal going at the moment, but in 3-5 years it could be just like Metropolis and Spire are now (full of people trying to sell in order to move up to the next big thing).

Wed May 7 2008, 15:27

Kim - I would agree with Jason on 1010, but need to know what is your budget, do you want Midtown, Buckhead, SoNo, or Downtown, or does it matter. Do you want new, resale, other areas, etc. Please email or call me with more detail.

Ed Francell
Prudential Georgia Realty
770-633-7576

Wed May 7 2008, 14:08