Steve Painter, Both Buyer and Seller in Atlanta, GA

Why is this house priced so much lower than comparable houses in this area, espcially if it comes furnished?

Asked by Steve Painter, Atlanta, GA Mon Feb 9, 2009

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Julie Britta…, Agent, Atlanta, GA
Mon Feb 9, 2009
Hey Steve. This home backs up to 285 - about 25 yards away. The noise level is ridiculous and there is no backyard. I showed this home last year to a Buyer. We ran as fast as we could ; )

4 votes
Hank Miller, Agent, Alpharetta, GA
Wed Feb 11, 2009
What, no one likes the idea of a major highway in their yard? Cut the kids loose to sell drinks and food when the traffic is standing still....which is just about always!

0 votes
Viviana Katz, Agent, Altamonte Springs, FL
Mon Feb 9, 2009
I just answered a question about airport noise ~ it is about an individual's tolerance level ~ If any 1 person in a family or group can't live with the noise, then it's a dealbreaker ~ but if there are no objections, go for it. Just remeber what my colleagues say about your resale value, because it will come up again. The fact that Julie mentions that it has no backyard is enough for me, as i would suggest to create a buffer ASAP.
0 votes
Deryk Harper, Agent, Alpharetta, GA
Mon Feb 9, 2009
Hi Steve,
Julie is right. We just had a similar situation up here in Alpharetta/Cumming with a new construction home that seemed to be priced too good to be true. When we arrived with the Buyer the first thing we noticed was the sound of afternoon traffic from GA400 located directly behind backyard...about 50 yds from back of home. We left that property for quieter living. Months later it is still on the market.

Homes like this will sell in a Seller's market where listings in certain areas become scarce and Buyers are willing to take any home just to get in a particular area or neighborhood at a good price. Stucco homes, undesirable yards, first home in S/D, backing up to undesirable all stand a better chance of selling in a Seller's market. Then comes the Buyer's market. Flooded with competitive inventory and prices, there are so many good opportunities that these less than desirable homes have to take deep discounts to compete....if they can sell at all. Many of them will probably sit through this entire market without selling or they will fall into foreclosure. Right now only about 20 - 30% of homes listed are actually selling and the rest expire or are withdraw from the market.
You should always go into this market with an exit strategy. How easy will it be to resell your investment? You don't want to be the next one stuck with the lowest priced property and still be unable to sell it.

Good Luck!
Deryk Harper
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0 votes
Lee Taylor, Agent, Decatur, GA
Mon Feb 9, 2009
The lovely and talented Julie Brittain nails the answer.

The stigma of I-285 hurts.

Don't buy it.

Julie says so.
0 votes
Barbara Snow…, Agent, Atlanta, GA
Mon Feb 9, 2009
Hi Steve,
It actually is priced right in line with what the other homes on the same street have sold for recently. I don't believe it comes furnished... the agent is just saying that the decor and furnishings are nice.
Let me know if I can be of any further assistance.
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0 votes
Jolie Abreu, Agent, Boca Raton, FL
Mon Feb 9, 2009

The location definately effects the price. But, if you're looking for value, this is a great deal. The current owners seemed to have enjoyed living there.

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