Market Conditions in Atlanta>Question Details

Nj, Home Buyer in Austin, TX

Greatest 5 year appreciation potential near Emory

Asked by Nj, Austin, TX Thu Feb 19, 2009

We are considering moving to Atlanta so I can attend grad school at Emory. We're targeting to purchase a home by this August with the intent of selling it once I've graduated in 5 years. Do you have advice on which areas, price ranges (or other parameters) have the highest 5-yr appreciation potential near Emory? Thank you.

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In that price range, you have a lot of opportunities. There's no guarantee what the market will be doing in 5 years, but as I mentioned the entire Emory area (and in particular the areas closest to the school) have stayed relatively stable in comparison to other parts of the city. Even with that, however, there are plenty of individual properties with a distressed seller in a hurry that you should be able to negotiate a very favorable deal at this point. As long as you are very analytical about your choice (don't take a property with a strong objection -- floodplain, railroad nearby, busy street, etc.) you should have a reasonable investment potential.

Of course, that doesn't mean that any neighborhood is likely to provide you with the "bubble" type investment returns from earlier in the decade. Those days are probably gone for our lifetime. Still, Atlanta real estate has typically increased 5-8% in value per year for about the last 30 years and since the Emory area is so highly sought after and will remain that way for the foreseeable future, it's certainly one of the safer parts of the city to invest in.

Given your price range, you will have your choice of neighborhoods and homes. Druid Hills is immediately adjacent to the campus and is one of the finest neighborhoods in the city with some spectacular historic homes on huge lots. Oak Grove is convenient to Emory and has a lot of newer construction (careful what you pay -- negotiate a good deal since a lot of this was built during the bubble years). It is a much more typically suburban neighborhood if that appeals to you. Candler Park has cool Craftsman bungalows that have been renovated and easy access to small neighborhood shopping districts plus a great park. Virginia-Highland is a popular area with a business district and a strong nightlife. Morningside is a beautiful neighborhood with Tudor bungalows. Victoria Estates is a ranch neighborhood adjacent to the University with some gorgeous mid-century homes.

It's really going to depend on what kind of house and what kind of neighborhood appeals to you the most. As I said in my previous answer, you'll have to work hard to find a bad place near Emory to invest so just work at finding the place that appeals to you the most and then have your agent run the numbers and see if it makes sense.

Lisa Crowder, e-PRO
Keller Williams Realty Intown Atlanta
0 votes Thank Flag Link Thu Feb 19, 2009
I have lived in the Emory area since 1987 when I went there to get my MBA.. after a dozen years in corporate finance I have worked in mortgage I'd be happy to give you my professional and personal opinions on areas around Emory, as well as mortgage finance advice at no charge!

David Osborn
Asheford Funding Group
0 votes Thank Flag Link Mon Feb 23, 2009
Nj -

If you're good between 400-600 you have many choices, all within an easy commute or even walk to campus. The bottom line is stay in neighborhoods with demonstrated strength over the long run and exploit the advantage buyers will have for the next 12-18 months.

If you're looking to kick tires, drop us an email and we'll send over things to review...this is what we do all day every day.

0 votes Thank Flag Link Thu Feb 19, 2009
Great answer from Lisa!

Nj - between $500 and $1.5M you reach far and wide.

Your next steps can be very specific, and if you are interviewing agents who know the Intown Atlanta and Decatur submarkets near Emory, then please call us.

Criteria regarding design choices, level of finishes, architecture, size of the land lot, all of these items become much clear once you connect with the best choice of location.

Your location choices are really terrific, so get your real estate on!
Web Reference:
0 votes Thank Flag Link Thu Feb 19, 2009
Thank you for your quick responses! It appears it may help if I provide you with some more details of what we're looking for:

-Good 5yr appreciation potential
-Land/lot: should have privacy, be safe for children, and be large enough to have space for small children to run/play
-Location: within 15 mins from Emory, but the closer, the better
-House size: minimum 4BD, 3BA, 3000sf
-Price range: relatively flexible. We've seen houses in Austin from $500k-$1.5M that appeal to us. I'm not sure how prices compare in Atlanta.
0 votes Thank Flag Link Thu Feb 19, 2009
The entire Emory area is, and should continue to stay, very popular. Much of this area has remained quite stable as far as prices despite the bubble bursting in the rest of the city so you'll have to work really hard to find a bad investment over here (I've lived in the Emory area since 1970). That said, there's a ton of different types of houses, types of neighborhoods, and price ranges in the Emory area so your search parameters will strongly determine what is realistic for you to buy. If you can provide more details about what you're looking for you'll get more precise answers. As a general rule, though, it's usually a safe bet that a detached home will increase in value more reliably than a condo.

I'd be happy to answer any questions you have about the area.

Lisa Crowder, e-PRO
Keller Williams Realty Intown Atlanta
0 votes Thank Flag Link Thu Feb 19, 2009
The area surrounding Emory is very desirable. I would also suggest that you look at Decatur which is right next to it. Price range really depends on what you can afford comfortably. There are condos in the 100K range up to single family homes in the million dollar range. I have lived in the area for more than 10 years and highly recommend it. If you would like to work with a full time agent that knows the neighborhoods and local real estate please feel free to contact me.

Jen Bowman, Broker Associate
Success Realty
Web Reference:
0 votes Thank Flag Link Thu Feb 19, 2009
Nj -

Stay under 400K and you'll have the best odds of making a few bucks when you leave - but plan success as breaking even just to be safe. Go back five years from today and how many people expected to be here?

There are several neighborhoods close to Emory, you best bet is to narrow down price and physical requirements first then pop smoke for an experienced agent that will actually level with you as opposed to feed you what you want to hear to get your business.

Drop me a line if you want more definate opinions.
0 votes Thank Flag Link Thu Feb 19, 2009

Under $250-Decatur Terrace
Under $400-Briarlake ESD
Under $600-Oak Grove ESD, Mary Lin ESD
Under $800-Morningside ESD
Under $1M-Plenty of choices

I love your city - keep Austin weird!
0 votes Thank Flag Link Thu Feb 19, 2009
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