I've completed hundreds of appraisals in Druid Hills since 1993 - it's always been one of my favorite neighborhoods. As a whole, Druid Hills continues to be one of the more desirable areas in metro Atlanta. The area SHOULD maintain its appeal and continue in a favorable mode. It's past history has demonstrated that it's a rock solid area with residents that care about it's history, homes and area overall market appeal. Locationally it's very desirable and the home styles and "old Atlanta" feel make it extremely attractive to be in. That said, projecting anything five years out is risky as there's much more that just "real estate" influencing the picture. The area is solid, the rest of the picture is quite variable.
Factors that will influence trends over the next five years include but aren't limited to Iraq, Afganistan, political leadership, cost of oil, interest rates, American economic strength, terrorisim.....and the mortgage industry. The markets will be off until mortgages and policys are brought to the table that meet consumer needs and "pass" the scrutiny of government and consumer groups. This "funk" will loosen once that happens. Influences on a local market occur locally, nationally and globally.
As has always been the case with real estate - the very first thing to lock down is location. Look at the past history, examine the current trends and area reputation and when you look to the future keep an eye on both the immediate area and outside influences. Buy with confidence, ensure that you understand the process. I expect Druid Hills to remain strong in both appeal and value, but just do your homework! Hope this helps.
Hank Miller, SRA, ABR
Associate Broker & Certified Appraiser
REMAX Greater Atlanta
My only thought is to watch for Dekalb County public elementary school districts and compare values. In this Buyer's market, the resale value of houses in one district over another can be significant. To the North, Laurel Ridge is notable and getting better. Briar Vista is certainly a very good school. The Southern side has a few steets within walking distance of Mary Lin - a great school. Fernbank is up and coming.
Regardless, if a lovely property in the Morningside school district across Briarcliff is your resale competition, then discriminating parents will give it a lot of consideration.
I'll bet ya $5.00 that Morninside ESD has higher appreciation over the next 5 years than any other ESD on the East side of Intown. Bet me?
I'll bet ya another $5.00 that Mary Lin has the highest submarket appreciation of any of the Druid Hills ESD's.
We'll have a progress report annually and in 2012, we'll settle the bets!
Prior to working in the real estate market I worked in the golf industry. I worked at Druid Hills Golf Club right at five years and I'm very familiar with the area and many of the local residents that live close to that area were members of the club.
Druid Hills is and will always be one of the exclusive in town neighborhoods in the Atlanta area Historically, Aesthetically, and Conveniently. I cannot see much changing in the way of home values and desirability of this area over the next five years. I could see where home sales may take longer than normal due to the state of the market, but traditionally home buyers looking in this area are unique and mortgage crisis will not have much affect on their buying power.
Are you considering buying or selling in the Druid Hills area? If you need any assistance be sure to contact me and let me know how I could help.