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Old 03-20-2013, 01:54 PM
 
149 posts, read 280,338 times
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Can some one give insight into "johns Creek Station" on McGinnys in Johns Creek Fultion? Per the Ad it feeds into "northview High". Please let me know the price compare and value for money. Looking to sell it off in short span ( 5yrs may be) and do not want to loose money( provided we do not tank the housing market again).

Sales say 5BR/4Batch, 3-car, 3-sidebrick, basement sells for 400-450K.
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Old 03-20-2013, 02:15 PM
 
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Looking at the web site, the 5br houses seem to be going for $368-$391k which seems a lot more reasonable for the area.

I don't think I would pay $450k for a mass produced home in a subdivision by a middle tier builder.

If you are looking for a house to flip in 5 years, you are taking a big risk no matter what you do. Nobody knows what the market will do in that period of time, and in order to just break even on a $400k home you would have to sell for a minimum of $424k in order to cover realtor commissions. I don't think anybody expects the market to pick up a great deal of steam in the next few years.

Having said that, Johns Creek in the Northview school district is one of the better decisions you can make and there will probably always be a market for homes in this disctrict. So I wouldn't worry about the price tanking so long as you pay a fair market value (check the comps first!!!!), but I wouldn't count on making much if any money either. Of course, having said that, nobody knows what's going to happen. Unlikely as it is, the market could crash or boom again.
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Old 03-20-2013, 02:35 PM
 
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Atltgl:
Thanks. The price you see is not without basement. If you add basement 36000, it comes to 400+ range. Again I am not going to make money atleast will I be able to sell in a short span. Having seen houses lying on the market for longer period in the past years.
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Old 03-20-2013, 02:37 PM
 
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Quote:
400-450K
that's a lot of money to leave so far from the city.
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Old 03-20-2013, 02:51 PM
 
149 posts, read 280,338 times
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Quote:
Originally Posted by JoeP View Post
that's a lot of money to leave so far from the city.
Thanks. Did not mean to start a in-town/suburb discussion. Can you compare and let me know if the price is reasonable for the area?
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Old 03-20-2013, 09:57 PM
 
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[quote=ATLTJL;28762407]I think the price is really high. Here are some comps:

11020 Regal Forest Dr, Suwanee, GA 30024 - Zillow

1170 Clandon Pl, Suwanee, GA 30024 - Zillow

7610 Brookstead Xing, Duluth, GA 30097 - Zillow

8015 Cavendish Pl, Suwanee, GA 30024 - Zillow


Those comps are 9 to 18 years old. There is always some "new" premium but it is difficult to say how much "new" is worth. Some people just want a new house,maybe because they never had one before. Doesn't St. Marlo put one out of the N. Fulton and Northview High schools? What is it worth to be in the Northview district?
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Old 03-20-2013, 10:08 PM
 
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Quote:
Originally Posted by capoeira View Post

Those comps are 9 to 18 years old. There is always some "new" premium but it is difficult to say how much "new" is worth. Some people just want a new house,maybe because they never had one before. Doesn't St. Marlo put one out of the N. Fulton and Northview High schools? What is it worth to be in the Northview district?
St Marlo, being on the north side of Mc Ginnis Ferry, is purely Forsyth county.
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Old 03-20-2013, 10:09 PM
 
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They are 9 to 18 months old, not years.

The "new" premium only applies to, well, new homes. So for the OP's purposes, the "new" premium will be fairly irrelevant when he wants to sell in 5 years because although there may be a small new premium on brand new homes, there is really no premium on a 5 year old home versus a 25 year old home. At that point, it all comes down to which has been maintained better.

I don't fully understand how St. Marlo works because I believe that the Forsyth county line actually crosses in the neighborhood. Or McGinnis Ferry itself may be the county line....I'm not sure. I think most of the houses in St. Marlo attend Forsyth county schools. If there are any in the neighborhood that are in Fulton, I guess they would go to Northview. Don't quote me on that, I'm not sure. It might be that no houses there are in Fulton.

Whatever schools the homes in St. Marlo feed into, the prices there seem to be fairly consistent and I wouldn't fear them going down as much as a smaller D.R. Horton produced subdivision.

EDIT: FromGA sounds right to me. I don't know anything about Forsyth county schools except that they are highly sought after as well.
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Old 03-20-2013, 10:12 PM
 
3,243 posts, read 6,295,126 times
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Quote:
Originally Posted by ATLTJL View Post
They are 9 to 18 months old, not years.
I mean the houses are 9 to 18 years old. Built 1995 through 2004. Some people I know just want a "new" house. This puts a premium price on new houses that is difficult to calculate. I agree the resale houses look like better buys.
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