We're VERY low on inventory right now and so it's well worth your while to consult with an agent or two - we may have a buyer *now* for the place. Conventional wisdom is that waiting until the Spring is best - the problem with this is that the market will be flooded with new listings come March and you'll have a lot more competition. I definitely suggest that you call one of us in to see the place and give you a frank opinion. Depending upon which complex, I may have a buyer now for you.... more
The high school for this address is Decatur High School. Decatur High is the only high school in the sought-after City of Decatur school system.
Unfortunately, the particular home you are looking at is not for sale. However, there are several nice townhomes that are available in this district. I would be glad to give you more information if you would like to give me a call on Thursday morning.
Keller Williams Realty Metro Atlanta
Cell 404-790-8184... more
At present, asking how the market is doing is akin to asking how people all across the state how the weather is. I'm working with one buyer who has made offers on 5 different homes and lost all of them to a higher bidder - even when offering significantly more than the listing price. One friend of mine responded to a call for "highest and best" with an offer that was $37,000 over list price and still lost out. On the other hand, I'm working with a seller who bought their home in 2008 for $300k, and we'll be lucky if we can get $170k for it today.
The prices are so low for, as Hank put it, too many variables. If you're familiar with the "Broken Window Theory," having a substantial amount of vacant homes in the area has wide-ranging repercussions. Obviously no one wants that to happen. As a result, there is pressure to get people into these homes for the benefit of the community.
Another key component is that, in many cases, Fannie Mae bases their funding for loans on the liquidity of the lender. If the REO (A fancy term for foreclosures, because they fall on the balance sheet under the line item "Real Estate Owned") portion of a bank's assets exceeds a certain ratio when compared to the bank's more liquid assets, Fannie Mae will not approve funding for future loans. Since the bank makes their money off the loans, being unable to write them has a HUGE crippling affect, so the banks are forced to get the REO off their books at whatever cost they can so they can write new (and hopefully better, more profitable) loans. To summarize, neither the area nor the properties are failing - it is a joint effort to increase home ownership & not leave the banks/the government holding the bag.... more
Kudos to Richard for a nice answer. I would add: Major empoyers Emory University and Centers for Disease COntrol have kept the market stable in Decatur and Northeast Atlanta. Job stability has meant fewer forced sales and foreclosures. Decatur is not immune to the ups and downs of the National real estate market but it has been buffered by these large employers who have not had to downsize.... more