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Old 07-03-2018, 08:04 PM
 
5,633 posts, read 5,357,570 times
Reputation: 3855

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Quote:
Originally Posted by jsvh View Post
Anyone have any clue of the selling price of the land? I'd be interested in running the numbers on this site.
One (vacant) lot sold for $106,000 six years ago. Current fair market value according to property records is $92,900.

The other sold for $345,000 2.5 years ago. Current fair market value is $299,400.

Zillow values the inhabited lot around $595k.

Quote:
Originally Posted by Forhall View Post
Why would million dollar condos affect home values negatively? That's not how this works. Buyers and sellers use comps for pricing, if anything it will raise home values. I don't get it, it's like people are dumb. Density and increasing investment will cause values to rise, not drop. Fighting development is what leads to price decreases.
Wait...so supporting density will cause values to rise, but fighting development will cause price decreases. But development also brings prices down? This is getting really confusing.
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Old 07-03-2018, 08:51 PM
 
4,843 posts, read 6,101,696 times
Reputation: 4670
Quote:
Originally Posted by Forhall View Post
Why would million dollar condos affect home values negatively? That's not how this works. Buyers and sellers use comps for pricing, if anything it will raise home values. I don't get it, it's like people are dumb. Density and increasing investment will cause values to rise, not drop. Fighting development is what leads to price decreases.
Quote:
Originally Posted by samiwas1 View Post
One (vacant) lot sold for $106,000 six years ago. Current fair market value according to property records is $92,900.

The other sold for $345,000 2.5 years ago. Current fair market value is $299,400.

Zillow values the inhabited lot around $595k.



Wait...so supporting density will cause values to rise, but fighting development will cause price decreases. But development also brings prices down? This is getting really confusing.
Density doesn't dive up prices Lack of land does. Often in places with high density NY and LA their a scarcity of land. Because every where is already develop so cost of living is high.

What jsvh is saying artificially though low density zoning will cost prices to go up this true. If you built density in places with no scarcity of land, would created a inflation effect because now you persevering undeveloped land by building more density and get the most out the develop area.

With that said this is project is basically a luxury project tho, Projects like this will cost the area price to go up by default no matter what.

So what jsvh is saying is true, but this having million dollar condos sort of cancels it out.
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Old 07-04-2018, 09:29 AM
 
13 posts, read 13,544 times
Reputation: 20
Quote:
Originally Posted by Forhall View Post
Why would million dollar condos affect home values negatively? That's not how this works. Buyers and sellers use comps for pricing, if anything it will raise home values. I don't get it, it's like people are dumb. Density and increasing investment will cause values to rise, not drop. Fighting development is what leads to price decreases.
Because denser housing would continue to be built if this one gets built. And not all of them will be million dollar condos
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Old 07-04-2018, 11:58 AM
 
Location: Blackistan
3,006 posts, read 2,629,048 times
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Quote:
Originally Posted by Laatl8 View Post
Because denser housing would continue to be built if this one gets built. And not all of them will be million dollar condos

So what?
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Old 07-04-2018, 09:16 PM
 
Location: Georgia
4,209 posts, read 4,744,007 times
Reputation: 3626
Quote:
Originally Posted by Pemgin View Post
So what?
So more people will have access to housing in a more healthy walkable and accessible environment, what exactly are people against here? O4W's buildings are already pretty tall and there are already expensive properties. What's new with this development?
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Old 07-05-2018, 07:20 AM
 
Location: NW Atlanta
6,503 posts, read 6,119,427 times
Reputation: 4463
Quote:
Originally Posted by demonta4 View Post
So more people will have access to housing in a more healthy walkable and accessible environment, what exactly are people against here? O4W's buildings are already pretty tall and there are already expensive properties. What's new with this development?
"Rich" people.
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Old 07-05-2018, 08:06 AM
 
Location: Georgia
4,209 posts, read 4,744,007 times
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Quote:
Originally Posted by Gulch View Post
"Rich" people.
That's really funny of them to think that because from my point of view, the current residents have to be rich to even be living there at the moment. I doubt there are many longtime homeowners left that were there in the 90s.
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Old 07-05-2018, 07:41 PM
 
5,633 posts, read 5,357,570 times
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Quote:
Originally Posted by demonta4 View Post
So more people will have access to housing in a more healthy walkable and accessible environment,
The people who can afford these condos have access to pretty much whatever they want. This building is not providing some new access to people who couldn't attain it before.

Quote:
what exactly are people against here? O4W's buildings are already pretty tall and there are already expensive properties. What's new with this development?
Outside of Ponce City Market, I don't think there is a single building in O4W east of Boulevard that is over maybe 70'-80'. This building is three times that tall, yet provides housing for only a couple dozen people at most. I just think it's a stupid design that doesn't fit at all with the rest of the area. I also don't like that it appears to be very, very close to the surrounding properties.

One thing is for sure...the rents on the north side of Anthem will be dropping like a rock, so maybe this development actually will create affordable housing!
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Old 07-05-2018, 08:23 PM
 
Location: Georgia
4,209 posts, read 4,744,007 times
Reputation: 3626
Quote:
Originally Posted by samiwas1 View Post
The people who can afford these condos have access to pretty much whatever they want. This building is not providing some new access to people who couldn't attain it before.



Outside of Ponce City Market, I don't think there is a single building in O4W east of Boulevard that is over maybe 70'-80'. This building is three times that tall, yet provides housing for only a couple dozen people at most. I just think it's a stupid design that doesn't fit at all with the rest of the area. I also don't like that it appears to be very, very close to the surrounding properties.

One thing is for sure...the rents on the north side of Anthem will be dropping like a rock, so maybe this development actually will create affordable housing!
My reply was about the continued development of dense housing in O4W, not this particular development. Not every high rise condo project is going to be geared for millionaires.
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Old 07-09-2018, 07:12 AM
 
Location: Kirkwood
23,726 posts, read 24,859,920 times
Reputation: 5703
Quote:
Originally Posted by samiwas1 View Post
The people who can afford these condos have access to pretty much whatever they want. This building is not providing some new access to people who couldn't attain it before.



Outside of Ponce City Market, I don't think there is a single building in O4W east of Boulevard that is over maybe 70'-80'. This building is three times that tall, yet provides housing for only a couple dozen people at most. I just think it's a stupid design that doesn't fit at all with the rest of the area. I also don't like that it appears to be very, very close to the surrounding properties.

One thing is for sure...the rents on the north side of Anthem will be dropping like a rock, so maybe this development actually will create affordable housing!
Georgia Power Tower
City Heights Condo
Cosby Spears
Grady's Ponce De Leon Center
444 Highland
Maggie Russell Towers
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