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Old 08-27-2019, 05:57 PM
 
3,879 posts, read 992,640 times
Reputation: 4427

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Quote:
Originally Posted by samiwas1 View Post
Homes in my area have risen sharply in the past 18 months. Even just over the past six months, we've gone from several houses available in the $400-$450k range to zero. Just a couple of years ago, they were in the mid to upper $300s.

I believe our neighborhood in particular is undervalued, so hopefully, we can hold on a little bit while everything around us goes down, and then I can sell our place and buy a bigger place.
And where is this?
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Old 08-27-2019, 06:01 PM
 
3,879 posts, read 992,640 times
Reputation: 4427
Quote:
Originally Posted by ronricks View Post
You sound like someone in 2008 and 2009. Wait until people start losing their jobs and see what happens. Nothing is guaranteed.
Finally someone who acknowledges that job loss was in fact part of the cause and not strictly the effect of the recession.

1. Job loss didn't help the banks get paid on time, compounded with...
2. Underwater mortgages (buying at the top of market, then market correcting) didn't make selling the home any easier, now that many homeowners found themselves with a lump sum due to sell to the highest (and often only) bidder.
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Old 08-27-2019, 08:23 PM
 
6,527 posts, read 3,633,650 times
Reputation: 6001
Quote:
Originally Posted by bellhead View Post
If you are above a million in Milton, that gets you a really nice house.
Donít even need to be close to a million. And acre zoning is a bonus.
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Old 08-27-2019, 10:42 PM
 
5,264 posts, read 3,394,117 times
Reputation: 3496
Quote:
Originally Posted by ddm2k View Post
And where is this?
"Upper Westside" and Bolton.
Sales up to three years ago. You'll see a mixture of mid $200s up to $400s all over, with most of those 400s being more recent. (don't pay attention to Westside Station..it's new and selling like gangbusters)

Sales up to six months ago. Notice that most of the $200s and $300s, except for some pockets, and it's mid to upper $400s and some $500s.

There's currently not a single house in the area for sales under $449k, and only two outside of Westside Station. I'm guessing they're all holding on to see how the new developments pan out, and how Westside park comes along.
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Old Yesterday, 07:10 AM
 
920 posts, read 377,311 times
Reputation: 628
Quote:
Originally Posted by bellhead View Post
Will we hit a slowdown? Yes, nobody knows when.

Here is known fact, the northern suburbs are where upper middle class people go to have raise their kids. The reason are the schools, low crime, & low taxes. None of these 3 things are going to change in the next 20 years & these 3 things will continue to attract the upper middle class.

There really is no racial barrier either, it's broken down into income lines, I've noticed.

And what is going to happen when those folks start losing their jobs? Nothing will change?
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Old Yesterday, 09:20 AM
 
Location: Knoxville, TN
1,442 posts, read 654,295 times
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Quote:
Originally Posted by ronricks View Post
And what is going to happen when those folks start losing their jobs? Nothing will change?
Things will change. Housing is expensive and salaries haven't kept up. Many people are stretching to afford these homes and can quickly get in trouble if their income takes a hit. When I sold my house in Cobb County last year, I was pleased to see that the young buyers were staying well under the amount of loan for which they were pre-qualified. Smart kids.
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Old Yesterday, 09:52 AM
 
1,855 posts, read 1,889,735 times
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As more baby boomers are retiring and leaving their big homes in the northern suburbs, it will be interesting to see if there are enough people moving in to keep the prices up.
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Old Yesterday, 04:16 PM
 
Location: Johns Creek, GA
2,022 posts, read 2,172,198 times
Reputation: 2300
Quote:
Originally Posted by bellhead View Post
Will we hit a slowdown? Yes, nobody knows when.

Here is known fact, the northern suburbs are where upper middle class people go to have raise their kids. The reason are the schools, low crime, & low taxes. None of these 3 things are going to change in the next 20 years & these 3 things will continue to attract the upper middle class.

There really is no racial barrier either, it's broken down into income lines, I've noticed.
Crime won't happen all of a sudden in Alpharetta, I agree. They keep apartment construction and high density residential staved off enough to where an economic downturn would just result in there being more rental and vacant living areas.

However, school budgets can take a hit with a lessened tax base. Commercial activity can slow down which means that shops will close and many of the other amenities that make Alpharetta attractive relocate or disappear.

A tech bust similar to the dot com crash would hit Alpharetta pretty hard
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Old Yesterday, 05:42 PM
 
95 posts, read 25,468 times
Reputation: 149
Quote:
Originally Posted by AtlJan View Post
As more baby boomers are retiring and leaving their big homes in the northern suburbs, it will be interesting to see if there are enough people moving in to keep the prices up.
I would be very concerned about my house value if I was living in a suburb right now. I doubt it "crashes" but suburbs are far from trendy, especially as inner city schools start getting "perceived as better" (read: higher test scores, more educated parents, rising white student population, etc). The one selling point the suburbs have rested their laurels on will be gone-zo pretty soon.

Why would you buy for the same price in East Cobb when you can buy in-town and get way more features?
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Old Yesterday, 06:59 PM
 
13,708 posts, read 22,220,765 times
Reputation: 4714
Quote:
Originally Posted by ATLUTD View Post
I would be very concerned about my house value if I was living in a suburb right now. I doubt it "crashes" but suburbs are far from trendy, especially as inner city schools start getting "perceived as better" (read: higher test scores, more educated parents, rising white student population, etc). The one selling point the suburbs have rested their laurels on will be gone-zo pretty soon.

Why would you buy for the same price in East Cobb when you can buy in-town and get way more features?
You act like East Cobb is located far out in northern Cherokee County.
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