East Point (Atlanta, Forest Park, College Park: real estate market, rentals, crime rate)
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East Point is known for one thing. Crime. East Point is an inner ring suburb which has a very high crime rate. There is a decent amount of industry because of its proximity ot the airport. There is a high percentage of rentals in the city because of the very low property values. There is a chance that gentrification will reach the area but it will be a while if it does because the areas which are gentrifying now are several miles away. On the plus side if you are buying property there your property values can't really go down because they are already at rock bottom, I just don't see them going up anytime soon.
a) what you've heard
b) what you've seen
c) actual stats
I meet people all the time (usually from North of 285) that knock EP, and when I ask them when they were last here, I usually get "oh, about 7 years ago"...as for the statement "There is a chance that gentrification will reach the area but it will be a while if it does because the areas which are gentrifying now are several miles away"... er, have you been to EP recently? Or even College Park for that matter? There is a tremendous amount of gentrification going on here, which would lead me to suggest you haven't.
As for your comments about property values. My place has appreciated by about 15%. Similiar story with most of my neighbours. Kinda flys in the face of what you said huh?
Oh, and as for crime, I suggest you click this link, I actually found it in one of your other threads, albeit for different cities:
Moderator cut: linking to competitors sites is not allowed
Atlanta's crime rate is way above the national average, but it easily surpasses EP's. I've lived in downtown EP for 2 years, and have never had any problem with crime in my area. That's not to say it doesn't happen, obviously it does. But to say EP is known only for its high crime rate is absurd. Yes, it's got a ways to go, but at least it's moving along in the right direction.
PS - EP also won Creative Loafings "Hot Hood" a few years ago.
Sorry to burst your bubble but my statement was based on both what I have heard from people I know who either work or live in EP and what I have personally seen. The last time I was in EP was last month and I live in-town, not north of the perimeter.
To say that EP is known for one thing, crime, is correct since it really is known for crime. You yourself said you run into people all the time who think EP is full of crime so it you can’t deny that it is known for crime. You can however dispute the legitimacy of that generalization. Using my own experiences as well as the experiences of people I know who live in EP I assumed this generalization was correct so I slacked off and didn’t take the time to actually look up the stats. Thank you for looking that up and showing us that the stats show EP is safer then ATL, one of the most dangerous cities in America. Now trying using that same page to compare the crime to other metro area cities and notice that EP has more crime then most metro cities.
Moderator cut: linking to competitors sites is not allowed
Now can you tell me what else EP is known for?
You talk about gentrification. Gentrification is when yuppies move into a neighborhood and build houses which are substantially higher in price then existing homes. From what I have seen most of the new construction in EP is lower to middle income instead of upper. Some people consider this gentrification but it would be more accurate to call it reinvestment into the community. When real gentrification comes in it pushes everybody but the very wealthy out of a community. Property values often triple or more, not increase by 15%. Part of the 15% increase in your property value is known as inflation, part is a stronger in-town real estate market, part is due to speculation, and the rest is due to reinvestment in the community. If EP can stay on this course a solid middle class community could emerge but it would take a lot for the area to fully gentrify.
You are absolutely right that EP is moving in the right direction, and I hope they succeed. But they have a long way to go and at this point I, personally, in my opinion, would not recommend buying property there. There are many other areas of the metro which I would suggest investing in real estate before EP. I am glad that you are happy with your investment and proud of your community and hope everything works out for you.
I just noticed on one of your other posts that EP has a huge gay community. I was unaware of this. This is actually a sign of gentrification. Even if the other indicators aren't there a large gay population can do a lot to gentrify a city. Maybe it will work out for them.
Last edited by Yac; 01-09-2008 at 06:33 AM..
Yep, let's take a location way OTP and compare it to one that's ITP! Great comparison. How about Norcross in the north, or Morrow to the South. Both have what appear to be significantly higher crime rates than EP. Let me give a fairer comparison, lets actually try some of EP's neighbours; College Park, Hapeville and Forest Park. Well look at that, all of 'em higher!
Oh, and and based on your argument, what exactly IS Fayetteville known for?
Given that you claimed ignorance about EP's huge gay / alternative community, it begs me to ask the question just exactly how many people DO you know that live or work there?
And while we're on the subject of gentrification, that's an interesting definition of the word you have there. Gentrification isn't about yuppies building bigger, more expensive property in lower income communities. It's about restoring and improving existing housing. Next time you come down to EP, I suggest you actually take the time to look around properly and see some of the beautiful craftsmen homes that have been restored in the neighbourhood. I'd say a 15% property appreciation, for a place you think of as being synonymous with crime, is pretty good right? Why, one would almost think the majority of people don't share your opinion!
As for the stats, I never disputed ATL's high crime rate, in fact I was the one that mentioned it. But to single out EP as a place only known for it's crime rate, when it sits 5 miles away from "one of the most dangerous cities in America" is ridiculous.
You're entitled to your opinion sir, whether it's right or wrong. You just need to do your homework a little bit more before you start bashing a place. Maybe when you've spent a little more time here, rather than say a year, you'll have a better feel for the place perhaps?
Oh, and here's to everything working out for you. Wherever you are...
The comparison was made simply to show that compared to many other metro cities EP has a high crime rate. It may not have the highest in the metro but it is still a dangerous area. I never singled EP out as the only high crime city in the metro, in fact on other threads I have talked about the high crime rate in other parts of the metro. The original poster asked about the city and I told them what I knew about it. That in no way is singling it out. So now is your chance. Instead of ripping on somebody elseís opinion why donít you tell us your own? Tell us what is so great about EP. Defend it, instead of trying to pick a fight.
I donít know much about the ďHuge gayĒ population in EP because that isnít something I look for, or even know what to look for. I spend a lot of time in Decatur and if people hadnít told me there was a large gay community there I never would have known. Arenít gays and *******s just people like the rest of use? They donít wear signs proclaiming they are gay. Why would I notice this large population unless I was looking for it? And why would I be looking for it?
Obviously we have a different definition of gentrification. You are using the one from the dictionary; I am using the word as it is used in the real estate industry. There is no point in discussing that topic further as we donít really disagree about what is going on there. That is great that you are happy with a 15% return on your invest after 2 years but you can go pretty much anywhere in the metro and find similar returns. 15% just means it is a solid long term investment. Many areas ITP are experiences tremendous growth right now and seeing much, much higher returns. The problem is if you sold right now it would be a wash. You wouldnít make any money, but you wouldnít lose any money either. If you bought two years ago in Grant Park and sold right now you would probably make a ton of money. Fact is, this area is probably decent (although somewhat unstable) for long term investment, but the returns arenít there to make it worthwhile for a shorter term investment.
So once again tell us, what is so great about EP? What is it known for? Here is your chance to brag about your community and tell us some of the very positive things about your community. Show those of use who are ignorant because we go off our own experiences and the experiences of people we know why we have the wrong impression about EP.
And by the way, the fact that EPís crime rate is slightly better then Atlanta, College Park, Hapeville or Forest Park isnít exactly something you want to brag about.
I'm considering buying a house in East Point. A few years ago, I would have laughed if somebody suggested it, but after driving around and through it - it's a cute little town. Close to downtown ATL, with neighborhood charm. It's an affordable option to someone like me with one source of income, who can't afford Grant Park or East Atlanta Village prices.
I love East Point and I endorse it. The city has the charm to turn into the next "East Atlanta". The areas I frequent are void of big box stores and chain restaurants, which is good in my opinion. Also, there are plenty of period-correct craftsman style homes that can be had for a reasonable price.
However, if you have kids and you are thinking of putting them through the public school system, well, you may have to weigh the option of living in a town full of personality vs. your childern's education.
I know a former co-worker of mine live there when I was working in downtown. He liked that because it is so close to train.
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