Madison Green Condos in Smyrna (Atlanta, Vinings: sales, real estate market, apartments)

[Tica2005]

I'm thinking about buying a condo in Smyrna in Madison Green very close to Smyrna's Village center. This will be my 1st time purchasing a home and I have a few questions...

Will using a real estate agent to assist me with my purchase help me to save money?

How can I determine whether the asking price for these condos is reasonable? I'm not sure how negotiable condo prices are. Should I be offering less that the asking price? If so, how do I determine how much less to offer?

Is the real estate market in Smyrna is stable? I know that they are going to be developing a couple high end condo communities close by at Belmont Hills and also across the street from Market Village on Atlanta Rd. Do you think that these new developments will bring up the property values for the whole area despite the over building that is going on in metro Atlanta?

Link for Madison Green condos: CCV Homes

Thanks to everyone who takes the time to respond and help guide me on this important decision.

[EyesToTheSkies]

You certainly have some great questions, all of which can be answered by a reputable real estate agent. A seasoned realtor will be able to specifically find the information you need to make a wise purchase. Buyers often feel they can get a better deal if they don't use a realtor when they make their purchase. What usually happens is that they end up spending more or leaving incentives on the table if they aren't savvy and up to date on market conditions and specific developers and communities. The market is in a huge transition right now. Since this is your first time purchasing, I highly recommend you seek the advice of a realtor to represent you in your purchase. A lot of pbuyers don't realize that the sales agents on site are representing the developer's best interests. It's always smart to have someone knowledgeable in the industry representing your best interests as well. Best of luck! And congratulations on your first purchase!

[SmyrnaVinings]

I've shown the Madison to several buyers over the past year. It's a nice development in an improving area and the proximity to the Market Village and the upcoming Jonquil Village in Smyrna will certainly be a plus. I know a lot of people in that area are excited to have Publix coming in. It's also very hard to find new construction in this price point in the Smyrna area (granted this is a conversion, but nicely done).

The Madison was pushing incentives a lot harder a few months ago, but have done a nice job of selling their inventory and moving along in their project. Word on the street is that the apartments across the street from the new phase has been condemned and will be torn down, which will be beneficial to have that complex gone.

While Jonquil Village is progressing, don't expect anything to happen at Belmont Hills very quickly given the issues over financing.

Regarding price, the use of a Realtor does come in handy as a local expert would be able to assess whether they are priced appropriately for the market, give you a good idea of other inventory that they are competing with and also know what past units have sold for in the Madison.

Aaron Hofmann
SmyrnaVinings.com

[Rhonda K]

Hello,

I actually live on the street of the apartments. It's a great area, but a little boring for my child(hardly any kids in the area). The location there is great-you can walk to the events at the Village Green, and I can't wait for the Publix to get there! As far as property values, I don't know about Condos, but I've done very well in the area.

Regarding the Riveria apartments, I doubt long term they will be there. No one wants them there, especially the home owners in the area, and the Smyrna governement. There was an project that would have torn the apartments and the 20 homes around it down,(including mine), but the developer and apartment owners(different owners own different buildings) couldn't agree on a price.

Also, if you work downtown, it's easy to access both 285 and 75 from the area. The location can't be beat!

Good Luck with your decision,

Rhonda K.

[scgraham]

Originally Posted by Tica2005

I'm thinking about buying a condo in Smyrna in Madison Green very close to Smyrna's Village center. This will be my 1st time purchasing a home and I have a few questions...

Will using a real estate agent to assist me with my purchase help me to save money?

How can I determine whether the asking price for these condos is reasonable? I'm not sure how negotiable condo prices are. Should I be offering less that the asking price? If so, how do I determine how much less to offer?

Is the real estate market in Smyrna is stable? I know that they are going to be developing a couple high end condo communities close by at Belmont Hills and also across the street from Market Village on Atlanta Rd. Do you think that these new developments will bring up the property values for the whole area despite the over building that is going on in metro Atlanta?

Link for Madison Green condos: CCV Homes

Thanks to everyone who takes the time to respond and help guide me on this important decision.

At the very minimum, your buyer's agent will promote only your interests throughout the entire process. Just yesterday, I helped my buyers unveil construction defects in a brand new condo. While it is the builder's job to deliver a home without these issues, a buyer can't rely upon it. Here's another good forum about this discussion.