Are townhomes or condos a good value in the Dunwoody/Sandy Springs/Broohaven area? If so, which area is

Asked by Penelope, Atlanta, GA Thu Jun 19, 2008

best? Thinking about spending 200 - 250K. Thanks!

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Lise Desorme…, , Atlanta, GA
Fri Jun 20, 2008
BEST ANSWER
My recommendation would be Brookhaven. There are a few conversion buildings you could buy that are lovely and close to Phipps Plaza and the heart of Buckhead. Although I would avoid the 3 story apartment conversions and stick with the highrise products. My reasons are, Brookhaven holds real estate values best of all three, travel from Brookhaven will always be away from traffic and therefore the most efficient commute and last but not least the lifestyle in Brookhaven is best by far.

Good Luck.
Web Reference:  http://www.rmr-usa.com
1 vote
Lee Adkins, Agent, Roswell, GA
Fri Jun 20, 2008
Penelope -
The most direct answer to your question is that there are condos and townhomes in each of those areas that are excellent values. There are also units that were purchased for inflated prices during the "boom" where the owners owe more than they are worth and are therefore over-priced or not able to negotiate enough to be considered a good value under current conditions.

Each area has it's own "feel" or lifestyle. Brookhaven and Dunwoody are more accessible to Marta, Sandy Springs is generally a little less accessible depending on where you are. All 3 areas have older units as well as new or newer units. Lise also mentioned conversions - which are generally apartments that have converted into condos or townhomes, these can be a good value, but be sure your Realtor provides you with FACTS about the areas and recent sales of any unit or complex you are interested in. I always tell my clients that I am there to provide them with facts to make an informed decision.

I'm not sure if you are currently in Atlanta and familiar with these areas, but they are all growing areas for the most part. Sandy Springs has recently become it's own city and has pretty major plans for a more walkable, mixed use (retail stores and residential homes together) type of feel. Brookhaven is certainly nice and building some mixed use now. Dunwoody is a little bit of an older area, but it's also growing.

Another option to consider if you are looking for an area where you can walk to retail, restaurants and more would be the midtown Atlanta area, the area around Peachtree Street between 17th St. and Ponce de Leon. There are a lot of high-rises here as well as 3 or 4 level units with more of a "garden" feel.

I have been working with a number of people lately in Sandy Springs, Dunwoody and Midtown looking at condos/townhomes and I have recent sales data for specific buildings as well as a good general knowledge of the available units in the areas. Brookhaven I know well, but have not sold any condo units in lately.

Here's a few links you may want to peruse:

http://www.sandysprings.org/

http://atlanta.bizjournals.com/atlanta/stories/2006/06/05/st…

http://www.midtownmile.org/

http://leeadkins.net/condos/

Best of luck to you! I hope some of this information helps.
Please let me know if I can help!

Lee
Web Reference:  http://www.leeadkins.net
1 vote
Penelope, Home Buyer, Atlanta, GA
Tue Jun 24, 2008
Thank you Lisa, I really appreciate it! I have narrowed my search down to 3 story townhomes in Brookhaven, I agree with you that the area seems like a really good value and location. I think I'm narrowing it down to the Centex, Beazer and Pulte properties in that community, they all seem very nice! Thanks again for the response.
0 votes
Lise Desorme…, , Atlanta, GA
Mon Jun 23, 2008
Hi, Penelope I was the first to answer this question and I've been tracking the answers. When looking at your original question I answered Brookhaven based on your 3 points of interest, what you wanted to spend, the location and your desire to have the best value from all three areas. Brookhaven continues to be the best option when considering price, good value and location.

Since the original question many more points have been brought up and I think the most important is your response on June 20th. With 4-7 years as your goal to see a good return on investment you may want to narrow your search down to townhomes for the time being. I also would like to suggest speaking to someone very familiar with these areas and work closely with them to find the right fit.

There are certainly many good agents to choose from and I can recommend Debra Brown with Keller Williams Realty on Peachtree Street in Brookhaven. You can easily go on the Keller Williams web site and search her contact information by name. She is absolutely knowledgeable and will not sell you anything that is not in your best interest. I've known Debra since 2002 and I have only seen wonderful service and professionalism in the work place. In my profession I get to know agents well as we work together to service sellers therefore my opinion comes from the experience of seeing Debra's work first hand. I also do not get any compensation for this recommendation therefore it comes to you without prejudice.
Web Reference:  http://www.rmr-usa.com
0 votes
Penelope, Home Buyer, Atlanta, GA
Fri Jun 20, 2008
I'm looking for a townhome or condo b/c single family homes in Brookhaven/Sandy Springs are out of my range. I've been looking at new, two bedroom townhomes with one car garages, but haven't been thrilled with them yet, I'm afraid they'll be hard to resell. I could go up to 300K but even in that range it seems unlikely I'd find a newer single family home. My biggest goal (aside from somewhere to live, happiness with the place, etc.) is to not lose money if I were to need to sell within 4 - 7 years.

I do appreciate the answers and advice, thank you!
0 votes
Lee Adkins, Agent, Roswell, GA
Fri Jun 20, 2008
Lee T may VERY well be right - AND pretty much all of these places restrict your ability to rent out the unit as well. I talked with one the other day that had an 8-10 YEAR waiting list for a rental permit.

Your "exit" strategy - when/how you sell or otherwise "get out" of the property - should certainly be considered up front.

Thanks for the clarification Lee!!
0 votes
Lee Taylor, Agent, Decatur, GA
Fri Jun 20, 2008
Your price range puts studios, 1/1's, 2/1's, 2/1/1's and some 2/2's in range, nevertheless what are your reasons for buying a townhome or a condo versus a single family home?

If I told you that you would not be able to sell your "good value" condo for more than your purchase price at any point in the next ten years, and if I could be relied upon for 100% accurate forecasting, then how would that change your decision in 2008?

I may be right.
Web Reference:  http://intowninsider.com/
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