Atlanta Real Estate: What is going on in your area? (Decatur: work, custom home)

[LovinDecatur]

Originally Posted by SCJ

I think that Collier Hills is still seen as a relative bargain in Buckhead...you can actually get a decent home for under a million! Perhaps this is why sales are still steady.

Yes, that and CH's phenomenal location...not to mention its' undeniable charm

[Scraper Enthusiast]

Up here in Cherokee County, it doesn't seem that homes are selling quickly. In my neighborhood, there have been eight homes for sell throughout this year, and only two have sold. Three are still on the market, and three have taken their homes off the market, due to little interest, in the hope to put it back on the market when things turn around.

[MiriL]

I think it's hard to really gauge how things are by the number of houses on the market, because it's nearly impossible to tell whether the sellers are motivated or not. I know our agent has remarked over and over again that it was so easy to work with us because we were willing to take her suggestions, make small upgrades, REALLY declutter, etc. We did those things because we actually needed to move, and it seems like it really paid off. Being on the market is such a pain that it's hard for me to believe people would do it unless they truly needed to sell -- and if that's the case, why not put your best foot forward? Is it a hobby, to see if your house will sell?

[JasonPaul]

I still monitor where our townhouse was, in Mableton, and it looks like that whole area is being raped right now. Outside of the poor fools buying brand new, everything else is just sitting there. I do not mean to be rude, but I do not understand when people pay a premium for brand new, when they can look in the same development and see resales that are obviously above "market value" and are already 10-20% lower than the new! So many of the townhome owners out there are really getting crushed right now due to foreclosures, as there appear to be many.

I'm not sure where your old townhome is Spacelord75 but I just bought a townhome in Mableton and the development is booming. I know of 3 communites right down the street from mine that aren't having any issues selling and them including mine are still building new and selling out on their pre-sales. (Around the Veterans and Oakdale intersection)

[spacelord75]

My development was Providence. Yes, the new builds were selling well, which was what was so unusual since the re-sales were/are sitting dead in the water and having to slash prices pretty dramatically.

[LovinDecatur]

Originally Posted by spacelord75

My development was Providence. Yes, the new builds were selling well, which was what was so unusual since the re-sales were/are sitting dead in the water and having to slash prices pretty dramatically.

Not an unusual situation these days in the townhouse market

[wxjay]

30339 is doing fairly well. I know in my condo complex (Essex House), units have been selling VERY quickly lately, much more so than last year. Part of that is that we did renovations on the complex too. But still...

[spacelord75]

Originally Posted by LovinDecatur

Not an unusual situation these days in the townhouse market

I guess it's just the counter-intuitiveness (word?) that was so mind-boggling to me. I mean, no doubt, getting something brand new is cool and all, but from a purely logical stand-point, as a buyer, you are actually getting to see the "market value" of your investment before you purchase, yet people continue on. It is kind of insane, to me, to willingly over-pay for an asset by 15%. We are talking about same exact floorplan and features, as well as superior location in the re-sales....just really weird to me.

[LovinDecatur]

Originally Posted by spacelord75

I guess it's just the counter-intuitiveness (word?) that was so mind-boggling to me. I mean, no doubt, getting something brand new is cool and all, but from a purely logical stand-point, as a buyer, you are actually getting to see the "market value" of your investment before you purchase, yet people continue on. It is kind of insane, to me, to willingly over-pay for an asset by 15%. We are talking about same exact floorplan and features, as well as superior location in the re-sales....just really weird to me.

New, new, new seems to be the mantra. I can't fathom it, either.

[RoslynHolcomb]

I don't get it either. I wouldn't have a house built before 1970. All the new amenities are well and good, and I was tempted by a few of them. But the old houses are simply more solid, IMHO. Of course, I also prefer the old subdivision with the mature trees as opposed to the new subdivisions.