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Old 09-21-2018, 12:10 PM
 
158 posts, read 91,855 times
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Seems like Grant Park, Edgewood, Kirkwood and similar neighborhoods, instead of selling for the 450-650k like they were last year are going down a bit to 350-550 range. Not a lot but a noticeable drop.
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Old 09-21-2018, 12:15 PM
 
Location: City of Atlanta
1,438 posts, read 1,234,250 times
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Quote:
Originally Posted by kgpremed13 View Post
Seems like Grant Park, Edgewood, Kirkwood and similar neighborhoods, instead of selling for the 450-650k like they were last year are going down a bit to 350-550 range. Not a lot but a noticeable drop.
I haven't noticed that happening. I keep my eyes on real estate listings, and the only trend I've noticed is that some have definitely stayed on the market a bit longer than they used to, especially for not-so-great places. I think some of the drop in pricing might be that the Holidays are approaching, and typically there aren't many sales this time of year. Whatever is left on the market from summer, if they want to sell on a timeline, need to drop the prices a bit this time of year.
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Old 09-22-2018, 10:54 AM
 
Location: College Park Georgia
120 posts, read 39,154 times
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This is great news! I have been fearful of prices running up so high and spreading into the inner burbs.

Do you have an article I can read?
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Old 09-22-2018, 11:14 AM
 
Location: Edgewood in the City of Atlanta, GA
108 posts, read 59,075 times
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Quote:
Originally Posted by kgpremed13 View Post
Seems like Grant Park, Edgewood, Kirkwood and similar neighborhoods, instead of selling for the 450-650k like they were last year are going down a bit to 350-550 range. Not a lot but a noticeable drop.
I don't agree with that. It seems like smaller houses are still selling in low 400's and bigger ones in the mid 500's. There are always exceptions to the rule like this house next to me, 48 Vinson Dr. SE in Edgewood, that has been stuck on the market for 6 months. A combination of bad starting price of over 600K and bad layout. Stairs in the middle of he house cutting all the bedrooms besides the master into tiny spaces. Definitely not see 100K plus drops in houses. If that was the case I would be worried that the market has bottomed out.
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Old 09-22-2018, 02:08 PM
 
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Nah, at least not in Kirkwood.
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Old 09-22-2018, 03:29 PM
Status: "Apparently not a person." (set 2 days ago)
 
4,985 posts, read 3,265,727 times
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Quote:
Originally Posted by 3rdbass View Post
I don't agree with that. It seems like smaller houses are still selling in low 400's and bigger ones in the mid 500's. There are always exceptions to the rule like this house next to me, 48 Vinson Dr. SE in Edgewood, that has been stuck on the market for 6 months. A combination of bad starting price of over 600K and bad layout. Stairs in the middle of he house cutting all the bedrooms besides the master into tiny spaces. Definitely not see 100K plus drops in houses. If that was the case I would be worried that the market has bottomed out.
Quote:
Originally Posted by red92s View Post
Nah, at least not in Kirkwood.
It looks like a lot of houses in that area have been on the market for months. Seeing that it should be a fairly popular area, that suggests that the prices are just too high.
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Old 09-22-2018, 03:44 PM
 
158 posts, read 91,855 times
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Quote:
Originally Posted by samiwas1 View Post
It looks like a lot of houses in that area have been on the market for months. Seeing that it should be a fairly popular area, that suggests that the prices are just too high.



Yeah, It's that you would see houses sell in Grant park for 600k in a couple of weeks. Now they are on the market for a long time, there are a few house I've been following on real estate websites where the asking price was 450k and they sold for 370k. I'm thinking houses are selling for a lot less than the asking price nowadays, when a year ago they were selling for asking price or above.
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Old 09-22-2018, 03:52 PM
 
158 posts, read 91,855 times
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And Kirkwood is a nice neighborhood, but its not Midtown. Houses shouldn't be listed for 500k-700k there.
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Old 09-22-2018, 08:24 PM
 
153 posts, read 115,181 times
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I follow O4W, Inman area fairly closely. I've noticed the houses less than 500K in good shape still sell lightning fast and above ask and the very expensive (close to 1 million) still take about the same amount of time to sell and they usually get close to asking price. But the houses priced around 500K - 700K or so I think have started to plateau or decrease a bit. They usually stay on the market longer and end up dropping their price by around 5% to sell. So I do think the market has started to cool slightly. I know some people who still think they can just wait for the bottom to fall out of the market like it did 10 years ago and they will scoop up intown homes for half what they're selling for now. I hate to tell them but that will NEVER happen. The market will only continue to go up but I don't think it's going up quite as fast as it once was.
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Old 09-22-2018, 08:32 PM
Status: "Apparently not a person." (set 2 days ago)
 
4,985 posts, read 3,265,727 times
Reputation: 3327
Quote:
Originally Posted by chabang View Post
I know some people who still think they can just wait for the bottom to fall out of the market like it did 10 years ago and they will scoop up intown homes for half what they're selling for now. I hate to tell them but that will NEVER happen. The market will only continue to go up but I don't think it's going up quite as fast as it once was.
What on earth leads you to that conclusion?
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