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Market Conditions in Decatur : Real Estate Advice

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  • Local Info47
  • Home Buying71
  • Home Selling8
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Activity 7
Wed Dec 12, 2012
Michael Hammond answered:
It appears there is no HOA or Recreation Fee with the homes in Riverside Station, Cindy. Please call, text or email if we can provide further assistance. Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=HAMMONDJOHNM

http://www.chapmanhallprofessionals.com

http://www.SellsRealty.org

http://www.city-data.com/

http://www.greatschools.org/
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Sun Nov 18, 2012
Phil Rotondo answered:
MARTA has a station at Rainbow and Whirlaway Drives......
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Fri May 11, 2012
Ron Thomas answered:
The Market is UP in some places,
and DOWN in some places:
Which is better than it was a year or two ago!

I saw a report that showed the house price were going up, in the places where unemployment was lower; well, it doesn't a genius to figure that one out!

There are many factors that go into the rise and fall of prices; the main one is Supply and Demand; or to put it in Real Estate terms; location, location, location!
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Sat Jul 17, 2010
James Dudley answered:
Wed Apr 13, 2011
Richard Reid answered:
Chris,

Predicting trends in real estate is typically done over a longer period of time than the coming year - and is not too helpful in most scenarios. Even if there were a chart, it is going to be general, not specific or weighted to your home. There is no context, so it is difficult to know the best direction to offer.

Decatur real estate has been essentially flat over the last couple of years in terms of price. Properties are moving more quickly now than they have been - and the speed of the sale is more likely to change in the short term than the price. Even in Decatur, trends vary significantly by neighborhood. Consider the stability of homes / prices around you, the school district, the number of foreclosures or homes on the market nearby, etc. The more stable your neighborhood, the better you are likely to do in terms of price.

Here are some general scenarios. Please contact me if you would like an answer with more context.

When considering whether to sell now, or wait, you need to assess your homes strengths and weaknesses in the context of the current market. For instance, if you are in city of Decatur - and your home is likely to be purchased by someone with children, you want your home on the market now. Families try to move before school starts, and that means offers need to be hitting the table quickly.

If you live in a home vs. a town home or a condo, you may be ok selling immediately (today's market is different for each). These elements will play heavily into the best decision. Condo owners may be better of renting if the association permits. Town homes are competing with some substantial drops in the prices of new properties on the market - so the best option for a town home owner is probably to wait a bit if they are able. Renting may be a positive option here as well.

Other factors that are going to play in your decision to sell now or wait will include: motivation for selling (are you moving to another city, is the property likely to sit vacant), did you take a new job with a much longer commute, how much to you owe on the property (in particular relative to its current value), how quickly do you need to sell (are you up against a short sale or foreclosure scenario), the condition of the property compared to others on the market in your area, the number of homes nearby for sale, etc.

For home buyers who may read this:

If you are an investor, or someone willing to work on a property, the simplest and safest method may be to buy the property that is priced well below market because of its current condition. Address the condition(s), and the market is already at an appreciated value from your purchase price.

If you are looking to buy a property and live in it, you may consider a home that needs more modest work - like paint, carpet, and some landscaping - rather than reworking electricity and plumbing, or a new roof, etc.

Whether you are a home buyer or a seller, the best advice is to engage a professional. I would be happy to help you work through your specific scenario. Real estate is all local, and each personal situation is unique as well. I am willing to understand your specific situation and offer you the best options I see - including where I think the market will be for your home over a series of intervals (though there is no guarantee of any future value).

Regard,

Richard Reid
Broker
Direct Link Realty, Inc.
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Wed Jul 1, 2009
Katina Wright answered:
Greetings Don,
I did not see any MLS activity of the address that you inquired about. There is a reasonably priced property on River Road in Decatur on the market. If you are considering purchasing it you should have someone negotiate your offer to purchase.

You can research property values on your own. Just go to http://www.fultoncountyreo.com/hvalue.shtml and you will get the data you are looking for. Whether you are looking to buy or sell the instant valuation is beneficial.

For more accurate reflection of market changes contact my office today and we can help you with your real estate needs. Just email info@fultoncountyreo.com let us know how we can help you and a sales associate will respond quickly!

Good Luck,
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Wed Dec 23, 2009
Kirsten Conover answered:
The city of Decatur (30030) has one of the highest rated school systems in the area, and therefore single family homes continue to sell. I would think a condo very close to the Decatur Square area would be a great investment property, if you could rent it out (some HOA's have restrictions on renters, so you'll need to check before you buy). I have a couple looking in the area, and if you're willing to buy an older home that may need some cosmetic issues, you can still find things under $200K ...be forewarned, that there are higher taxes in Decatur--you can expect to pay $3500-4000 a year on a $200,000 home!
Hopefully someone that knows unincorporated Decatur (30034) can answer your questions about that area--taxes are lower and so are the prices!
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