What are Atlanta's most overpriced and underpriced areas? (East Point, Dunwoody: apartment, for rent)

[-StarBright-]

I agree with an earlier post about Virginia Highlands. A few years ago, I was looking for a 7 bedroom house there, and majority of them were priced near 1 million or more. I was definitely say that thats over priced for the size and age of the home. Smyrna in my opinion is very affordable(not underpriced) for what you get. The house of my desired size there was priced around $700,000 and was newer.

[red92s]

Originally Posted by -StarBright-

I agree with an earlier post about Virginia Highlands. A few years ago, I was looking for a 7 bedroom house there, and majority of them were priced near 1 million or more. I was definitely say that thats over priced for the size and age of the home. Smyrna in my opinion is very affordable(not underpriced) for what you get. The house of my desired size there was priced around $700,000 and was newer.

There isn't a single 7BR for sale in VaHi at the moment, but there are a bunch of 6BR in the $1.25M range. I won't debate that the entire area is overcooked, but I wouldn't be sneezing at 30% appreciation over a couple years had I spent a million bucks there a few years ago.

[jeoff]

Disagree with most folks idea of "overpriced" for VaHi--there is a lot of intrinsic value in that neighborhood--proximity to the major job center in the state, good schools, and nice amenities--not to mention a very limited supply of land--none of that is going to change any time soon. Compare that with yesterday's *new* white-flight suburbs that are no longer new and many are not-so-white anymore--they had very little intrinsic value. Today's flavor-of-the-week may or may not have the same future as those neighborhoods--but you are going to have to do better than a price/sqft comparison to justify calling VaHi overpriced.

[jeoff]

Originally Posted by -StarBright-

I agree with an earlier post about Virginia Highlands. A few years ago, I was looking for a 7 bedroom house there, and majority of them were priced near 1 million or more. I was definitely say that thats over priced for the size and age of the home. Smyrna in my opinion is very affordable(not underpriced) for what you get. The house of my desired size there was priced around $700,000 and was newer.

Most people's idea of affordable varies a lot--and most folks do not have 700K to spend on a home. But, if I had 700K to spend on a home, I would feel safer spending 700K in VaHi for a nicely renovated smaller home than a 7BR home in Smyrna. Which home do you expect to appreciate more in ten years? So, which is "overpriced"?

[glovenyc]

Just like everywhere else, we get what we pay for here in Atlanta. The term "overpriced" is extremely relative, depending on what one values. Some value sq. footage, some value land, some value convenience and some value walkability. What we find valuable determines how much we are willing to pay. Convenience is at the top of my list, and I picked my neighborhood as per. Could have bought much more house 20-30 miles further away from the CoA, but would introduced some majors inconveniences in my daily routine(s).

[demonta4]

I saw a house listed in Clayton that was over 800,000 dollars.

[hautemomma]

I think that's just way too broad of a question to meaningfully answer. When we were house hunting, I observed many parts of Smyrna and Marietta that looked like rat traps and/or were zoned for under-performing schools, but still priced "too high." At the same time, in "affordable" Kennesaw and Acworth, for example ... it's hard to find a home with my criteria (3-car garage, basement, 4+ bedrooms, 3+ bathrooms, 3K+ square-feet) for under the low $300Ks (often around $400K-$600K). It's all really relative and depends on what's important to you, as a buyer. Some people prioritize proximity to the DeKalb Farmers Market, while others want highly rated schools, stable and appreciating property values, lots of square footage and room to spread out. When my kids are older, I'm pretty sure I may want a bungalow in or near the city, but by then, the noise, smells and gentrification factor (and the attitude that can accompany it) may be too offputting to even entertain it.

[Nast]

It's only overpriced if you can't find someone to pay the asking price. Many places in town aren't having that problem right now.

[LovelySummer]

Second this. Virginia Highlands immediately jumped out in my mind when I saw the post. It is definitely overpriced. A couple of restaurants and bars and a bunch of old houses should not equate to 500K-600K for a 2 bedroom.

When I drove through City of Decatur this weekend, I thought it was definitely overpriced. Good school yes but Oakhurst looked no different to me than Kirkwood and homes in Kirkwood are a good 200-300K less for the same house. I'm not sure a good public school is worth paying 200-300K more for a house, and higher taxes. Heck, you could pay for all of K-12 at a private for the price differential - of course you would not get the tax writeoff that you would to pay it via mortgage so touche. I guess there is something to be said for spending the money on the house instead of the school but, seriously, it looked the exact same as Kirkwood for waaaaay much more.... Also, I was trying to figure out the draw of the center area. I only saw a few restaurants and an old Family Dollar. Not hardly what I thought people were raving about. Maybe they are raving about a different area of City of Decatur but I still think it's overpriced. Too bad too bc I would consider moving there. It's liberal and highly kid friendly but I would not be comfortable paying the prices for what you get. I'd rather go a little older and go with a Morningside or Druid Hills or someplace else a bit more pristine in appearance.

I also think Old Fourth Ward might be tinkering with being overpriced too.

I'm keeping the place I think is underpriced to myself. LOL.

Originally Posted by Tarzanman

I would say that Virginia Highlands is overpriced for how much house you get (and the ages of them)

[red92s]

Originally Posted by LovelySummer

Second this. Virginia Highlands immediately jumped out in my mind when I saw the post. It is definitely overpriced. A couple of restaurants and bars and a bunch of old houses should not equate to 500K-600K for a 2 bedroom.

When I drove through City of Decatur this weekend, I thought it was definitely overpriced. Good school yes but Oakhurst looked no different to me than Kirkwood and homes in Kirkwood are a good 200-300K less for the same house. I'm not sure a good public school is worth paying 200-300K more for a house, and higher taxes. Heck, you could pay for all of K-12 at a private for the price differential - of course you would not get the tax writeoff that you would to pay it via mortgage so touche. I guess there is something to be said for spending the money on the house instead of the school but, seriously, it looked the exact same as Kirkwood for waaaaay much more.... Also, I was trying to figure out the draw of the center area. I only saw a few restaurants and an old Family Dollar. Not hardly what I thought people were raving about. Maybe they are raving about a different area of City of Decatur but I still think it's overpriced. Too bad too bc I would consider moving there. It's liberal and highly kid friendly but I would not be comfortable paying the prices for what you get. I'd rather go a little older and go with a Morningside or Druid Hills or someplace else a bit more pristine in appearance.

What's it cost to send three kids to private school for 13 years? Even at only $10k per year per kid, that's closing in on 400k.

http://instagram.com/p/rQO4pqpbWc/That "Old" Family Dollar in Oakhurst opened 24 months ago. There are, off the top of my head: A coffee shop, a bakery, a real estate office, a dog biscuit bakery, a small market, 6 restaurants, and auto repair facility, and a running shoe store in downtown Oakhurst. Are there many other neighborhoods that have those amenities smack in the middle of their core? Literally that stuff is a hundred feet from people's front door. That is . . .not as common as you seem to think. Not sure why you were expecting to find Northpointe Mall there.

Downtown Decatur and Downtown Oakhurst are two very, very different things. The "downtown" area of Decatur is several times the size of Oakhurst. Sounds like you skipped that stop entirely.

If you think it takes a lot to get into the Decatur market, you better have at least 7 digits to get into those areas of "pristine" Druid Hills and Morningside.