I don't understand it...is this much house for under $200,000 for real? (Atlanta: for sale, real estate)

[ocsanders]

1726 Dylan Place - New Homes for Sale - MLS #4102692 - Realtor.com®

Okay, granted we are coming from New York where you can't buy a closet for $200k and you throw away money every month renting a 600sq ft 2BR apartment, but I just want to check with the experts...is this for real? Is this the standard for the suburbs in the current market?

Is this price reflective of some unforeseen intangibles that we would never be able to weed out given we are relocating? Don't get me wrong. This would be fantastic for us given we are looking to buy on only one income as I will be in grad school. Now we won't have put so much down to be in a good area to get our payments reasonable.

[PKCorey]

It's still alot more supply then demand here.

From Bing Maps, its seems to be a new community stuck in the backend of older homes.

Pretty reasonable but the norm for Atlanta metro area in that price range honestly...

[atlantagreg30127]

I hope you were using that as an example and not that you were actually interested in that particular place, because by posting the direct link to it, you just let about oh, a few thousand people who are relocating here who browse these forums know about that deal, too.

But yes, more and more deals like this are popping up all over metro Atlanta since the housing bust. In case you're worrying about the neighborhood or the realtor being up front about crime, etc., keep in mind you can always google around a bit, but also in some cases you can call the local police department (non-emergency number) and they will usually be upfront about how they view the area.

[iowantribal]

i'm originally from new york city. we moved here in july, 3 months after my husband was okayed a job transfer to atlanta. in may, before we moved, we flew down to atlanta to meet with our realtor to look at about 11 homes. all were under $200k and all but 2 were 5 bedroom/3 bathroom homes. the other two were 4 bedroom homes. square footage ranged from 2700 - 3500 sq. ft. all the homes were in pretty good condition. we found a very nice home in a very active and nice subdivision that has a strong sense of community under $200k. in august, we closed (right before my son's new school started) and the management of the apartment complex that we were staying at was kind enough to let us out of our lease with no penalty.
initially, we were surprised by how low the prices of a lot of these houses were, but because of the recessed economy and home builders loosing their financial backing as well as the foreclosures, you will see a lot of well kept homes for crazy low dollars... until the economy gets strong again. like one of the poster's (pkcorey) said previously: more supply than demand.
in new york city, it's the opposite because despite the economy, people are still willing to pay lots of $$$ for a limited amount of space.
as long as you are coming to georgia with a decent source of income, you will do well here. good luck!

[cwkimbro]

That is probably about right. One of the reason Atlanta is sprawled out so much is land is relatively cheap and the price of the house on undeveloped suburban land is largely determined by the actual construction costs.

Infill development or suburban infill lots might be a different a story.

You could probably find a little bit cheaper if you got a smaller place on a smaller lot. There are more expensive houses, but they are larger or built nicer with more features.

[ocsanders]

Originally Posted by atlantagreg30127

I hope you were using that as an example and not that you were actually interested in that particular place, because by posting the direct link to it, you just let about oh, a few thousand people who are relocating here who browse these forums know about that deal, too.

Ha, ha. No, I am researching the market and this house is typical of what I find to be incredible compared to the housing market in which I live. We aren't looking to close until 1Q or 2Q 2011.

Although I hope someone benefits from what seems to be a great deal.

[SW30303]

Currently 150K - 200K can buy you a decent place in nearly all good public school districts in the suburbs of Atlanta. The real estate prices have fallen here in some areas (20%+), even in areas with good public school reputation. That house is in suburban Gwinnett, where some of the school clusters have good reputations, unfortunately, in the example you have, Lawrenceville, the prices have fallen just as they have elsewhere. Qualified buyers can find good deals right now. Prices near the city, in desirable areas, of course, are another topic and generally a higher price range.

[OrlFlaUsa]

Sorry guys I don't mean to post all over your Atlanta threads but it's one of the only other cities I'd consider a move to for various reasons like: having family there, getting a change of seasons but not too extreme for a Floridian like me, urban/suburban amenities, and most importantly the COL-housing. I have always been very impressed with the GA real estate I've seen on tv programs, online, and even in person. What beautiful brick or craftsman style homes you get on nice uncrowded wooded (or at least green) lots. To the OP: my research confirms what you've been seeing. Do your HW, check it out, drive the area late at night and try to get a feel for it. Even though our careers for the moment are down here, I'd be willing to relocate in a heartbeat simply to buy the American Dream in Atlanta!

[OhioNative]

As PK Corey said, that area is surrounded by some older homes (if the map is correct, and I'm not sure that it is). There are also some declining subdivisions nearby on that part of Lawrenceville-Suwanee Rd. It's not a really bad or high crime area, but it is an area where home values have not done as well as, say, further north off L'ville Suwanee or on the west side of I-85.

[brook2ga]

Originally Posted by OhioNative

As PK Corey said, that area is surrounded by some older homes (if the map is correct, and I'm not sure that it is). There are also some declining subdivisions nearby on that part of Lawrenceville-Suwanee Rd. It's not a really bad or high crime area, but it is an area where home values have not done as well as, say, further north off L'ville Suwanee or on the west side of I-85.

Exactly! Location affects price. Also, many houses have no basements.