Areas around Alpharetta for Family with LOTS to do (Atlanta: sales, foreclosures)

[AnsleyPark]

Originally Posted by Go Blue 99

With a few exceptions, Alpharetta is chain restaurant heaven. If you want access to the best restaurants, you'll have to drive 20-30 miles into the city.

Don't get out in Alpharetta much, eh?

[LovelySummer]

Never pay full price. Foreclosures still exist.

Originally Posted by madaboutmad

yes, we see that the real estate is very reasonable and actually we would love to spend about $550,000-$600,000. And save some $! Also, we want a private Christian school. Are there any other areas we should consider? And between the 2 areas, of Alpharetta and Roswell, what are the differences?

Thanks for the replies. I appreciate it!

[jsvh]

Originally Posted by LovelySummer

Never pay full price. Foreclosures still exist.

Full price is relative. Foreclosures are discounted for a reason. I bought my house as a normal sale for less than the previous owner bought it for as a foreclosure plus they had put thousands into it.

[LovelySummer]

I really do not understand the point of your post. When you write "[f]oreclosures are discounted for a reason," are you implying that there is usually something wrong with a foreclosure? If so, that is not the case. Foreclosures are just houses that someone else lost and the bank took over. You have an inspection done on the house, etc., just like any other house. I have bought at least two foreclosures with absolutely nothing wrong with them (which I know because I lived in them after buying them) and each was between 80-100K less than the comparable houses on the very same street at the very same time as my purchase.

I do not have time to argue. If other people want to pay full price, that's up to them. I see no reason to just give away money.

Originally Posted by jsvh

Full price is relative. Foreclosures are discounted for a reason. I bought my house as a normal sale for less than the previous owner bought it for as a foreclosure plus they had put thousands into it.

[jsvh]

Originally Posted by LovelySummer

I really do not understand the point of your post. When you write "[f]oreclosures are discounted for a reason," are you implying that there is usually something wrong with a foreclosure? If so, that is not the case. Foreclosures are just houses that someone else lost and the bank took over. You have an inspection done on the house, etc., just like any other house. I have bought at least two foreclosures with absolutely nothing wrong with them (which I know because I lived in them after buying them) and each was between 80-100K less than the comparable houses on the very same street at the very same time as my purchase.

I do not have time to argue. If other people want to pay full price, that's up to them. I see no reason to just give away money.

You make it sound like if you find the house you want, you can find almost the exact same house in the same condition for 20% less as a foreclosure and that is simply not the case. Foreclosures are not a cure-all. There are some good ones out there, but they are still selling to the highest bidder.

[noah]

The reality is the bank wants to sell for market value too so if the market has improved in a given area from what it was at the low the foreclosure bargains may no longer be there. Then they are just like any other owner who is motivated to sell.

[deacongirl]

For people doing a corporate relo foreclosures are strongly discouraged. The closing process can take much longer and ultimately end up costing the buyer more in the long run.

To the OP I think that in your price range, in Alpharetta, or Milton, or East Cobb, or any other similar area, there will absolutely be materialism among other kids and parents. It is up to the family to combat, and fortunately there are kids in these areas who are not spoiled, entitled brats, and who do not judge their peers based on the label on the clothes or the car in the high school parking lot. But there are also plenty who do. Metro Atlanta is absolutely not free of materialism.

[LovelySummer]

OK, JSVH, how can you tell me and I have done it...TWICE?
I've bought two properties in the last 3-4 years (most recent last fall), each 80-100K less than the house next door and on the street in each case. The first place had a leftover trash bag in the living room that they couldn't be bothered to remove, I guess. The second place had a dishwasher that needed a new rubber strip at the bottom. That's it. Literally. I knew that going in because I have a great inspector.

I do not know what type of foreclosures you are talking about (maybe you are talking about auctions) but the foreclosures that I've bought have been listed right on the MLS. You get there first and you make an offer. If accepted, the process is no different than buying any other house. Period. The only difference has been there were no disclosures and it was sold as-is...typical foreclosure stuff.

I walked into my last place this fall with 80-100K in equity...and the prices continue to rise because the place is in Buckhead.

In one case, I believe the agent tried to fabricate a bidding war (suddenly there is another offer). We called the agent's bluff, added 5K to the price to make him feel good and he accepted our offer.

Originally Posted by jsvh

You make it sound like if you find the house you want, you can find almost the exact same house in the same condition for 20% less as a foreclosure and that is simply not the case. Foreclosures are not a cure-all. There are some good ones out there, but they are still selling to the highest bidder.

[LovelySummer]

Hi Deacongirl, I know that short sales take forever but it's been my experience that the bank property managers for foreclosure portfolios want these deals done quickly bc they do not get their commission until the closing. Therefore, they actually want to close very quickly. Both of mine closed in 30 days. Same as other non-foreclosure properties I've bought. No money changes hands until the deal is done so making an offer with a 30-day out (or less) closing date is actually very attractive for getting the offer accepted.

Originally Posted by deacongirl

For people doing a corporate relo foreclosures are strongly discouraged. The closing process can take much longer and ultimately end up costing the buyer more in the long run.

To the OP I think that in your price range, in Alpharetta, or Milton, or East Cobb, or any other similar area, there will absolutely be materialism among other kids and parents. It is up to the family to combat, and fortunately there are kids in these areas who are not spoiled, entitled brats, and who do not judge their peers based on the label on the clothes or the car in the high school parking lot. But there are also plenty who do. Metro Atlanta is absolutely not free of materialism.

[LovelySummer]

Naw, foreclosures will always be at least a little less than non-foreclosures, even if it is a perfect seller's market. The reason why is because you have less demand for a foreclosure property bc there are all of these people in the world who are afraid to take a chance on a non-conventional route, think there must be something wrong with the property, are not saavy enough to know how to find the goods ones so stay away altogether, think the process is different when it doesn't need to be, etc. And there are agents that don't take their clients to them bc they are listed at a discount and the agent's commission will then be less than a regularly-price property. So supply and demand will always look different for the foreclosure properties versus the non-foreclosure properties.

Oh and then there are all the people who think the disclosures they get from a seller are worth the paper they are written on.... (so they run from the no disclosure as-is status of a foreclosure). The reality is that most properties have not had major trouble and if they have, most times an inspector will be able to tell you. Seller disclosures really are not that big of a deal.

Look, as long as other ppl keep paying full price, it leaves more opportunity for me and other people who'd rather get more for less. Works for me. I was just trying to help the OP. They of course, are entitled to proceed in whatever way they'd like to do so. I was just thinking they'd relish a 600K house for 500K. I'd think that was cool but that's just me.

Originally Posted by noah

The reality is the bank wants to sell for market value too so if the market has improved in a given area from what it was at the low the foreclosure bargains may no longer be there. Then they are just like any other owner who is motivated to sell.