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Old 03-08-2014, 09:55 PM
 
Location: Georgia
4,577 posts, read 5,667,145 times
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Yep, multiple offers are becoming pretty standard for the nice properties around here, because the inventory is SO low. And many of them are getting sold during the "coming soon" status -- they never even hit the multiple listing service until it's under contract (it's still put in the MLS, just in case the deal falls through for some reason.)
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Old 03-09-2014, 08:03 AM
 
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Quote:
Originally Posted by AtlantaIsHot View Post
Yes, Ansley Park, Inman Park, and part of Druid Hills are in the city limits of Atlanta. These are very sought after neighborhoods and are filled with beautiful, grand old homes. These are my dream neighborhoods that I really want to be involved in. Part of Druid Hills (where the film Driving Miss Daisy was filmed) is in unincorporated DeKalb county outside the city limits.
Same in Buckhead, which is also in the city limits of Atlanta. My friends in the real estate biz tell me they are getting multiple offers. Apparently the "sweet spot" is around $1.2 million -- that will still get you a lot of house in Atlanta.
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Old 03-09-2014, 08:14 AM
 
Location: Atlanta
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Originally Posted by arjay57 View Post
Same in Buckhead, which is also in the city limits of Atlanta. My friends in the real estate biz tell me they are getting multiple offers. Apparently the "sweet spot" is around $1.2 million -- that will still get you a lot of house in Atlanta.
1.2 mil will get you a nice place anywhere! lol
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Old 03-09-2014, 08:21 AM
 
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Originally Posted by dnc19694339 View Post
1.2 mil will get you a nice place anywhere! lol
Well, for intown living in a big city that's still very reasonable. Look at comparable neighborhoods in DC, San Francisco, Boston, LA, and so forth.
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Old 03-09-2014, 08:44 AM
 
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1.2 will buy you all of Vine City
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Old 03-09-2014, 10:17 AM
 
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There are lots of nice homes in Buckhead for 7-800 and the foreclosures arev present too for that. I would never pay 1.2 for a home in Buckhead. But just me.
Quote:
Originally Posted by arjay57 View Post
Same in Buckhead, which is also in the city limits of Atlanta. My friends in the real estate biz tell me they are getting multiple offers. Apparently the "sweet spot" is around $1.2 million -- that will still get you a lot of house in Atlanta.
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Old 03-09-2014, 10:49 AM
 
32,026 posts, read 36,796,625 times
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Originally Posted by LovelySummer View Post
There are lots of nice homes in Buckhead for 7-800 and the foreclosures arev present too for that. I would never pay 1.2 for a home in Buckhead. But just me.
You can definitely get a nice place for $700-800K. I'm just commenting that the real estate people are saying the hottest action is in that $1.2 million range.

Apparently the true luxury market is very active as well.
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Old 03-09-2014, 12:38 PM
 
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Default Price gap in NWGA

The housing market crash is another reason inventory is low. People, like us, bought homes between 2004 and 2007 at the peak. Even with the rise in RE prices, our homes have not yet caught up. We'd lose around $40K if we sold. So, we aren't. Just sitting tight. Have to live somewhere. Quite a few new builders have entered the market. From what I've seen, the homes are not high quality. But they're selling like crazy. If mortgage rate continue to rise, RE will cool off again.
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Old 03-09-2014, 01:27 PM
 
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I am looking to sell next Spring, live in, Suwanee - Gwinnett County - and wonder if this sellers market will still be in place? Sort of think so given the low inventory and likelihood that rates won't be much higher. Thoughts?
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Old 03-09-2014, 03:22 PM
 
2,613 posts, read 4,147,380 times
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Oh I see. Got it!
Quote:
Originally Posted by arjay57 View Post
You can definitely get a nice place for $700-800K. I'm just commenting that the real estate people are saying the hottest action is in that $1.2 million range.

Apparently the true luxury market is very active as well.
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