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Old 03-11-2015, 04:05 AM
 
25 posts, read 14,340 times
Reputation: 32

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If you had a choice, would you rather live right next to Piedmont Park or within a block or so of Candler Park? There are two condos I've been looking at:

Candler Walk - https://www.redfin.com/GA/Atlanta/13.../home/25538073
$103k
$162/mo HOA

Park Cliff - https://www.redfin.com/GA/Atlanta/12.../home/24657711
$116k
$185/mo HOA

I've heard so/so things about Piedmont Park especially issues with noise and loitering at night. I'm a single, professional man, 31 y.o., and not planning on a family any time in the near (5+ years) future. I work remotely so commute isn't an issue. I travel frequently also, so getting to/from the airport with a minimum amount of fuss would be nice. I'd also like to be near good restaurants with good beer selections and/or whiskey bar type places.

Because of frequent travel, I have considered a high rise building, and this place appeals to me also, but the HOA is pushing obscene levels considering the price of the place.

Healey Bldg - https://www.redfin.com/GA/Atlanta/57.../home/24849882
$99k
$463/mo HOA

Which one would you choose and why?
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Old 03-11-2015, 05:04 AM
 
1,787 posts, read 2,103,953 times
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I would go with Candler only because it looks like it's one level (I cant tell for sure) and you wouldn't have anyone living above you.
I lived below someone in an apartment once and it got old real quick.
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Old 03-11-2015, 05:59 AM
 
Location: O4W
3,744 posts, read 3,533,166 times
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I like those. I'm about to call and put a bid in for one of them
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Old 03-11-2015, 06:34 AM
 
Location: Kirkwood
22,159 posts, read 16,163,004 times
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Healey building
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Old 03-11-2015, 06:52 AM
 
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You'd also have to pay for parking at a public lot if you choose Healy. The lobby is beautiful, but the units are rather like any other.

I don't understand why the purchase price for the other two are so low. Both are trendy neighborhoods, but I would dig as deep as I could to find out why the low purchase prices.
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Old 03-11-2015, 10:13 AM
 
Location: midtown mile area, Atlanta GA
1,228 posts, read 1,988,281 times
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If you travel often, the Healy since it's close to marta and you can take the train into the airport. The hoa fees at Healy may include utilities, which is probably why the fees are high.
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Old 03-11-2015, 02:35 PM
 
25 posts, read 14,340 times
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Quote:
Originally Posted by KittyAtlanta View Post
You'd also have to pay for parking at a public lot if you choose Healy. The lobby is beautiful, but the units are rather like any other.

I don't understand why the purchase price for the other two are so low. Both are trendy neighborhoods, but I would dig as deep as I could to find out why the low purchase prices.
I wondered the same about the low prices. At Candler Walk a 1br sold in Nov. for $67k (bank owned), and another 2br there sold for $106 last April. Based on that it seems like the listed 1br is overpriced. Shame I couldn't snatch up that 1br back in Nov. It seems like a nice community, but I haven't looked at the financials.
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Old 03-11-2015, 04:00 PM
 
1,385 posts, read 2,481,199 times
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Quote:
Originally Posted by blisteringherb View Post
I wondered the same about the low prices. At Candler Walk a 1br sold in Nov. for $67k (bank owned), and another 2br there sold for $106 last April. Based on that it seems like the listed 1br is overpriced. Shame I couldn't snatch up that 1br back in Nov. It seems like a nice community, but I haven't looked at the financials.
The comps are:

$67k in November. It was a short sale, not a bank owned. And chances are, it was an inside deal at that price. Someone got paid on the side.

$93k in October. This was actually bank owned, distressed sale. Not fixed up.

$100k even July. This is the last non-distressed sale.

All of these comps are 1bd with the same square footage.

The subject property at $102,500 warrants the higher price as it 1) Is the best situated condo out of the recent comps. It has a walkout to the green space, overlooks the park across the street and the patio/green space is a great extension of the living area. The other units have patios that overlook the driveway/parking lot. 2) This unit has ALL NEW appliances. The fridge and the under counter washer/dryer combo both have an extended warranty. None of the recent comps offered either.

The unit has been freshly painted, toilet rebuilt, etc.

Why do I know all of this? Because I own it.

OP, if you are really serious about putting an offer in, let me know. I have a little wiggle room, especially if you come in without an agent. $100k is my bottom line with an agent. $97k without an agent.

Good luck in your search.
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Old 03-12-2015, 07:17 AM
 
202 posts, read 172,242 times
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Good luck to you in getting it sold!
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Old 03-12-2015, 07:57 AM
 
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Thank you. It will sell here shortly. Getting a lot of showings since the price drop. I started out at $105k and that was perhaps a tad too high. Whoever gets this at $100k will be getting a very fair deal considering the unit is better than the comps.
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