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Market Conditions in Atlanta : Real Estate Advice

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  • Home Buying1K
  • Home Selling138
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Activity 120
Thu Jun 5, 2008
James Dudley answered:
Sarat,

This is a question that many people have inquired about. Market conditions are starting to make people think outside the box.

To answer your question it's not that common, but it can be done. Usually there are too many scenarios that have to play out just right in order for one of these deals to work. Finding someone to agree to all the terms involved is the challenge.

I would be happy to assist you in doing some research and see if we can contact a builder or homeowner that can accomodate your request. If you would like to share some more details about your home and what you are looking for I could go ahead and contact some builders in your search area and see who is willing to discuss some options. Do you have your home listed or have had it listed in the past without success? Your home may not be that difficult to sell even though market conditions are tough.

Our brokerage just had our best Jan. & Feb. numbers ever in one of the toughest markets ever! Be sure to contact me and lets see if we can find a solution that works for you.

James Dudley
ERA Sunrise Realty
james.dudley@era.com
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0 votes 7 answers Share Flag
Mon Mar 10, 2008
Cassandra M. Bickel answered:
I would suggest seeing what brokers currently are selling in your area and call them. Discuss with the Proactive Agents in your neighborhood what the properties are selling for, how long they are taking to sell and what condition they are in. You want to know what your over all competition is, including any foreclosures.

Good luck!
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0 votes 4 answers Share Flag
Thu Mar 13, 2008
Joshua Jarvis answered:
Tell Doug, I sent you.

North Atlanta Property Managers
Doug Wansley
678-377-2567

Great... Honest.
0 votes 4 answers Share Flag
Wed Mar 26, 2008
Joshua Jarvis answered:
It's an excellent time to do this IF you are going to keep the home for 3-5 years. Prices will not go much lower, and if you sit on the fence too long, they'll go back up. This is a great time to build wealth through real estate, as it will come back, it always has. ... more
0 votes 10 answers Share Flag
Wed Sep 1, 2010
Don Tepper answered:
This appears to be a $995 home study course/kit. May or may not be a scam, but there's no substantive information on the web site. Except it says they don't buy houses, they're not lawyers, despite your post to the contrary. Even says the homeowner doesn't have to sign a thing.

From the site's FAQ page: "While there are many scams out there dealing for foreclosure, this is not one of them. We do not buy your home, we do not have you sign anything, we provide a service and legal information. The service is to help you fully understand how the law pertains to your particular situation."

And one of the other questions is: "Should I hire an attorney?" The answer from the site: "There are certain circumstances when an attorney is needed, however, hiring an attorney can be expensive with retainers and high hourly fees. With our Walk Away Protection Plan & Kit, we correspond with your lender if needed and we teach you, so you can do it all yourself. Attorneys have helped us put together our Walk Away Protection Plan & Kit so it contains information that attorneys may give you anyways. This alone can save you thousands of dollars."

Bad advice.

And there's no information on the site about who's behind it. No names or detailed background descriptions. Just "You Walk Away, LLC is located in San Diego and run by a team with over 50 years of combined real estate and legal experience." Since we already know that these guys aren't attorneys, what's the referred-to legal experience? Paralegal? Legal secretary? The web site uses a service to hide any contact information.

I'm not impressed.
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0 votes 7 answers Share Flag
Sun Feb 24, 2008
John Dodson - Real Estate Agent in Atlanta answered:
Only a certified appraiser will be able to give the exact value of the property after the renovations. 4/2 homes in that area have sold for 260+ in the past but the current correction going on in the real estate market will have an affect on that number. I didn't find any recent sales or new listings in your exact area to compare a 4/2 property to. I had to expand the search to include the entire 30306 zip code. That returned a wide range of results with some as even as high as $859k. So, I don't think you will find the answer you're looking for in a forum like this. If your plan is to flip the house then providing an appraisal to any prospects will certainly add confidence to the buyer.

If your plan is to live in the home and then sell it in the near future, consider consulting an accountant on the tax benefits from a capital gains perspective by selling in less than 3 years.

Best of luck,

John S. Dodson
L&M Property Group, LLC.
http://www.realestateagentinatlanta.com
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0 votes 2 answers Share Flag
Wed Feb 6, 2008
Kim Chitwood answered:
From 1/27/06-1/27/07 the average sales price in PTC was 315k, from 1/27/07-1/27/08 the avg sales price dropped to 300k. 30269 probably took the least amount of damage in this market. It remains a solid investment in my opinion. ... more
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Thu Jan 17, 2008
Don Lantier answered:
LOL...Let us as R.E. pros go after the media who is trying to give wake to a recession too
0 votes 2 answers Share Flag
Tue Feb 5, 2008
Don Lantier answered:
what is the street location of you home so we could at least see what other homes in your neighborhood have sold for recently? When you say it needs some TLC...what exactly needs to be done?
If we could be of further help call us at 770-309-5297
Don Lantier
Donald J Lantier Realty
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0 votes 6 answers Share Flag
Sat Dec 29, 2007
James Dudley answered:
Kim,

The townhome market in the Atlanta area is very flooded. There are plenty of new construction townhomes available in the price ranges you mentioned.

If appreciation is what you are looking for a single family home is your best bet. Right now with the way the real estate market is you can find great deals on single family detached homes. If your lifestyle does fits better with a townehome in regards to maintenance the go with what works best for the way you live.

It's possible with the right negotiations to get excellent deals on a townhome if you work hard at it. So there is a better chance in 3-4 years you could break even. It sounds like you have done your research and are ready to get serious. If you would like a realtor to help represent you and get the best deal I would love to earn your buisness. Remember the commissions are paid by the seller so it cost you nothing to have a pro on your side when purchasing a home.

Let me know if I can help.
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0 votes 2 answers Share Flag
Wed Dec 19, 2007
Hank Miller answered:
Good Morning -

I've completed hundreds of appraisals in Druid Hills since 1993 - it's always been one of my favorite neighborhoods. As a whole, Druid Hills continues to be one of the more desirable areas in metro Atlanta. The area SHOULD maintain its appeal and continue in a favorable mode. It's past history has demonstrated that it's a rock solid area with residents that care about it's history, homes and area overall market appeal. Locationally it's very desirable and the home styles and "old Atlanta" feel make it extremely attractive to be in. That said, projecting anything five years out is risky as there's much more that just "real estate" influencing the picture. The area is solid, the rest of the picture is quite variable.

Factors that will influence trends over the next five years include but aren't limited to Iraq, Afganistan, political leadership, cost of oil, interest rates, American economic strength, terrorisim.....and the mortgage industry. The markets will be off until mortgages and policys are brought to the table that meet consumer needs and "pass" the scrutiny of government and consumer groups. This "funk" will loosen once that happens. Influences on a local market occur locally, nationally and globally.

As has always been the case with real estate - the very first thing to lock down is location. Look at the past history, examine the current trends and area reputation and when you look to the future keep an eye on both the immediate area and outside influences. Buy with confidence, ensure that you understand the process. I expect Druid Hills to remain strong in both appeal and value, but just do your homework! Hope this helps.

Hank Miller, SRA, ABR
Associate Broker & Certified Appraiser
REMAX Greater Atlanta
678-428-8276
www.hrmiller.com
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0 votes 3 answers Share Flag
Tue Nov 27, 2007
Lee Adkins answered:
Dan -
Windward is a HUGE neighborhood. I am currently showing over a hundred properties on the market.
BUT there are many sections of the neighborhood and the prices range from 267K to 4.9 Million.

The Alpharetta area in general is nery nice and offers a lot of excellent features including excellent schools. To look for more land/lower prices for comparable properties you might also take a look in C*mming, GA (it's missing a "U" trulia won't let me use that word)- Just a little north of there.

Hope this helps!

Lee
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Sat Jul 26, 2008
Ruthless answered:
Dave:
There are several GA Realtors on this forum. I'm surprised you haven't received an answer yet. My post will bring it to the top again. But if you don't get an answer tomorrow, try posting the question again and filling in the location. Agents in that state that have set up alerts will get an email to answer your question.

You also might try searching other questions by entering Atlanta and choosing buying or selling.
Good luck,
Ruth
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0 votes 4 answers Share Flag
Sat Nov 17, 2007
Alex Wilkinson answered:
In Michigan? Feel free to call me at 6787760135, and I will put you in touch with someone who sells property there.
0 votes 3 answers Share Flag
Tue Aug 26, 2014
Joshua Jarvis answered:
There are a number of sites (including Trulia) that pull from actual tax records. That's only part of the picture since Fulton is so dreadfully behind. Most local loan officers will have resources to do a "pencil" appraisal on your home if you request it.

The most accurate information will actually be at the county court where the tax records are stored (as there are many inaccuracies online).

Also, if you have a good Realtor friend, they might be willing to pull comparables for you as well.

Do a search for it on Google too! Here's what I found: http://www.fultonassessor.org
Hope this helps!
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0 votes 20 answers Share Flag
Fri Sep 14, 2007
Patsy Turner REALTOR® Hall County GA answered:
As always, Clark Howard provides exceptional advise. Home ownership is an American Dream and is possible!
It is a Buyer's Market with many great homes available. Buyers should analyze their financial situation, pay down debts, save for a down payment - get advise on ways to improve their Credit Scores (see myFICO.com Get a Loan). Talk to a Realtor for mortgage loan referrals-get qualified before you start previewing so you know up-front how much home you can comfortablly afford.
Seller's should make their home shine-the polished apple in the bunch! Curb appeal, staging - fresh paint, declutter, open up the room space (throw away or put in storage), look at your home in the eyes of a Buyer. Work with a Realtor for advice on staging and to price your home to sell in today's market!

Patsy Turner, Realtor
Keller Williams Realty Lanier Partners
In Buying and Selling Real Esate, Your Agent Matters!
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0 votes 4 answers Share Flag
Thu Aug 30, 2007
Joshua Jarvis answered:
I only see one home sold in the last year at 7.2 Mil in all of Georgia. This is a specialty home. There are several between 3-5 Million though.

Good Luck!
0 votes 5 answers Share Flag
Tue Jul 1, 2008
Melissa Mancini answered:
Hi There,

If you are ready to move now than, I would not recommend waiting until next spring. Most homes come on the market during this time, so you may inadvertently create more competition for yourself by waiting. Additionally, there is a chance that interest rates will rise again, and if this occurs, it may drive the value of your home down and/or deplete the supply of buyers in your market. I feel that listing now or even through the holidays is a good time. My experience has been that listing a home during the holidays will draw in mainly very serious buyers that have a NEED to move, as house shopping is a lot to juggle while preparing for this busy holiday season.

Best of luck to you!
Melissa Mancini, Realtor, CBR, GRI
... more
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Fri Feb 25, 2011
Vicki Maselli-Shoop answered:
Hmmm, let me take a quick look into my crystal ball...

Seriously, I do not think you have furnished enough information about your particular neighborhood, the location to major roads & shopping, amount of rent, etc. The fact that it has only 1 bathroom for 3 bedrooms makes it less desirable than a 3 bedroom/2 bath home or condo. Does this rental property qualify for Section 8?

Accurately predicting time on market for a listing (whether for sale or for lease), is a very complex task affected by many variables. Agents can look at historical data for # of days on market and get a general sense of how long it should take assuming that it is priced right, in a desirable neighborhood, offers easy access to roads, is close to shopping, and so on.

The real key to your outcome is marketing and exposure. How & where do you plan to advertise? Food for thought.

Good luck,

Ted Shoop - ABR, e-PRO, Realtor
Keller Williams Realty Atlanta Partners
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0 votes 3 answers Share Flag
Sat Jan 19, 2008
Fred Poehlman answered:
It depends on the type of investment. My advice to the people that work with me in Michigan is if they are looking to flip the house, don't buy in this market. Rentals are always the same, buy as low as possible, and calculate the CAP rate. ... more
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