Carlos Castro

I asked my Magic 8 Ball, and it tells me to ask again later.

In all reality, new home prices, particularly in brand new neighborhoods may tend to vary more than home prices in established neighborhoods.

Established neighborhoods that have been built out have a history of comps.
For example:

Model-A with the basement and bonus room in neighborhood X goes for $300,000 +/-
Model-B with no basement goes for $240,000 +/-

That is because over the past year 3 model-A's sold in that neighborhood for about $300,000 and 4 model-Bs sold for about $240,000

In a new neighborhood, the prices are set by the builder/developer. The history of comps is not typically there, so if they get lots of orders in short order, they may choose to increase the price. If nobody is purchasing them, they may lower the prices. They have greater flexibility in pricing because they are dealing with more volume. - Wed Jul 2 2008, 07:46

I have to agree with KC. Forsyth County is what I would recommend.

Great Bang for the Buck as far as home value
You can have your Alpharetta address and still pay the much lower Forsyth County Property Taxes

If you are familiar with the area, you can be in Forsyth County as far south as Exit 12 on GA 400.

Forsyth County is beefing up their School Infrastructure.

Just opened Piney Grove Middle School, West Forsyth High, and a bunch of Elementary Schools. They are planning on opening Lambert High School in the Fall of '09.

Full Disclosure: I have three children attending FCPS and have been happy with what I have seen. - Tue Jun 10 2008, 12:28

It might. Check the link reference and read over some of the principles of value as it pertains to home values.

Good luck - Mon May 19 2008, 12:17

Satishkumar,

It is also a great time to rent. Since folks are having a harder time getting their places to sell, there are more and more people looking at leasing out their homes. If you want to explore this possibility, call me 770-881-7034 - Mon May 12 2008, 08:28

Look,

The question you need to ask yourself first is "Will this upgrade be worth it just to bring me and my family personal enjoyment and fulfillment over the next 12-16 months?". If the answer to that question is yes, then by all means do it.

A whole lot could happen in the next year to year and a half. New administration, probably a half dozen changes to prime, we will see what affect the ALpharetta new home construction slow down will have on the market, and so on. I would hate to comment on what some fancy pieces of wood nailed to the walls will have on the value of your home in that time.

Having said that, you need to know that your home sells as a package. Will the crown molding add to the overall look of the house, or is it out of place? Do the other upgrades compliment it? When you go to sell the home, will you stage the home in order to get the most out of your crown molding?

When you go to sell, be sure to slap an extra coat of paint on the crown molding to make it stick out. And while you have that can of paint out, slap an extra coat of paint on the baseboards too.

Good luck, and enjoy your upgrades yourself. I have heard the sentence "It's a pity we did all this work, and never got a chance to enjoy it." from too many clients - Mon May 12 2008, 08:20