Anything wrong at Piedmont Villas? (Atlanta, Roswell: hardwood floors, for sale, real estate)

[cmsinatl]

I've been looking at 2 bedroom town homes in Midtown and VH. I came across five units in Piedmont Villas (Piedmont and 5th) for sale. There are only 16 units in the complex and the ones for sale are priced lower than comps in the neighborhood.
Does anyone know if the association is having any troubles? Any known issues with this property?

thx

[Morriah]

I don't know if the association is having any troubles but if you are working with an agent, make sure that they request the meeting minutes from the last five or six HOA board meetings...that will let you know what has been going on in the association. Or you could call the management company yourself and ask questions, I see in the listing that the management company is Parkside Management and their phone -number is 404-810-9066. Besides that, I know the townhomes are a little older and some are not renovated plus they are fee-simple, which means that you would be responsible for the maintenance of the exterior, just like owning a single family home AND they are stucco which requires more maintenance. Just my initial thoughts....

[blount756]

I am a homeowner in Piedmont Villa's. I bought my place here last year. I am must say I love living here. It is quiet, convenient and secure complex in the middle of the city. The things that attracted me to this complex #1 location location location #2 Its small therefore you dont have to compete against 50 condos or units when you decide to re-sell #4 its a gated communtiy #5 Its small therefore you know who is suppose to be here #6 It has a 2 car garage--most new places arent offering that option or you have to pay an extra $10K #7 it was in my price range , where will you find all these amenities for this price. Also dont forget...its midtown. In a slow housing market this area is stilll appreciating. This is my million dollar investment....

To address your concerns about the high turn over. There are only 3 units for sale and the only reasons they are for sale is because of life changes (coincidence). One is vacant because the lovely couple is expecting a baby, another one is vacant because the owner got accepted to an ivy league business school out of town; the other townhouse I am just guessing that they have lived therefore for a long time and just ready to move on...but I here that one has many upgrades.***There are 2 Piedmont villa's. Piedmont Villa I and Piedmont Villa II. They are approximately 1 blocks form each other***

As far as the interiors being "older"...that just depends. I bought mine with hardwood floors throughout, upgraded bathroom, custom paint, beatuiful ceiling fans...and havent done a thing but move in my furniture. I am planning on re-modeling my kitchen but once I do that it will tack on a nice premium to my house plus it will be what I like.

Regarding fee simple...I think a lot of these townhouses are overcharging and doing no maintainance. I prefer to shell out $125 a month and deal with the headache that might happen once in a blue moon. Paying $300 a month for HOA is a waste to me. Also my room was just replaced , by the old owners so I knew I was good on that one.If you have concerns about the appliances or equipment being old get the seller to buy AMerican Homeshield appliance insurance for a year---that covers repair or purchase of appliance failure.

As far as cash in the bank...the association is healthy....there are no worries. I would suggest that you ask your realtor to show you the homes and you will discover that they are hidden gems. I almost missed out...because I was looking for a while and even put a bid on a overpriced and less convenient buckhead location but withdrew it at the last minute when my realtor found my midtown dream.

Hope this helps.

[raellis28]

We just sold our townhome in Piedmont Ville 2. (837 B Piedmont). We moved to San diego. What a great complex, we will miss being part of a wonderful community. I don't know much about piedmont Vills 1, but piedmont Villa 2 Rocks !!! Rachelle Ellis

[Zel Ya]

Originally Posted by cmsinatl

I've been looking at 2 bedroom town homes in Midtown and VH. I came across five units in Piedmont Villas (Piedmont and 5th) for sale. There are only 16 units in the complex and the ones for sale are priced lower than comps in the neighborhood.
Does anyone know if the association is having any troubles? Any known issues with this property?

thx

I don't know what your price points are--apparently around $300,000.

I sometimes browse real estate ads, and about a month ago I saw a tremendous townhome bargain. This townhome is newer and larger.

This particular townhome is in Buckhead. It's in your price range and this unit was listed for around $315,000. Monthly fees are around $225.

The name of the complex is The Central Buckhead. A few years ago people were paying pretty darn close to $500,000 for the larger units with private elevators. As I recall, all of the units originally sold in the 400s. As I say, the larger units were quite close to $500,000.

I'm not sure as to whether this unit has an elevator. All of the units have four stories ( that's my impression ), 2-car garages, a minimum of two-bedrooms, and a huge penthouse deck on the roof-- the top floor.

The Central Buckhead is near the intersection of Roswell Road and Piedmont Road.

Keep your eyes open. You may be able to buy a townhome, newer and larger, for a lot less than you think.

[rswlguy]

Originally Posted by Zel Ya

Keep your eyes open. You may be able to buy a townhome, newer and larger, for a lot less than you think.

Where have U been Zel? I've needed your vigilante "truth-seeking" and encovering ability lately on this forum.

Lot's of unecessary 'sugar-coating', disigenuous info local diatribe.

Oh BTW, I'm moving into the City of Atlanta temporarily to attend to my tennant who is recovering from major surgery. Spending about 4 days per week (after work) ...

Here comes the Californian and there goes the neighborhood ...

[Zel Ya]

Originally Posted by rswlguy

Where have U been Zel? I've needed your vigilante "truth-seeking" and encovering ability lately on this forum.

Lot's of unecessary 'sugar-coating', disigenuous info local diatribe.

Oh BTW, I'm moving into the City of Atlanta temporarily to attend to my tennant who is recovering from major surgery. Spending about 4 days per week (after work) ...

Here comes the Californian and there goes the neighborhood ...

Hi rswlguy,

I have read the Atlanta forum posts, but I guess I haven't posted much. I have posted a bit on some other forums here.

You sound like a very nurturing landlord. Wow! Not many landlords are as nurturing as you. Most landlords care about the rent check being in the mail on time and that's about it.

I hope your tennant makes a speedy recovery.

Your commute time should be less now. Good luck!

[JohnDavis]

If I were you guys I would look into Parkside Management / The current owner Celia Ebert has a dubious past with Piedmont Management.
They are extremely un-professional with clients and have had "questions" about their ability to manage moneys ethically.

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JD

[xtvium]

We have owned a townhouse in Piedmont Villas for the past 3 years. A great place to live! We have had no trouble with the HOA or the property management company. Both are very professional and try hard to be as unobstrusive as possible. The complex is well taken care off (the common areas) and there are no monetary issues. In fact, the financial condition is so healthy that beginning January 2009, the HOA fee was reduced from $125 to $100 - that is rare in this neighborhood where HOA fees can run as high as $350. Also, there are 16 units in the complex and their valuation can vary lot - anywhere between $290,000 to $330,000. This is because some of the units have been completely renovated with premium stuff and have bonus room/finished basement versus others that lack this. Very quiet place ideal for professionals with desire for midtown living. Lastly, re: turnover - just life happening as someone above pointed out. People selling to go to school, or moving because of job, etc. The message above about Celia Ebert, even if true, has no bearing re: how Parkside handles property management. As I mentioned above, my interactions with them have been professional and they do a good job as far as the complex is concerned.

[FromCLTtoATL]

I don't know about these villas, but I can tell you I lowered my condo asking price by $25,000 when I tried to sell it in North Carolina from summer of last year to spring of this year because I was paying rent here and making payments on an empty condo there. I was just trying to get it off my hands so I could tidy up my financial affairs there and perhaps look for something here. There was nothing wrong with it.

Basically, the people who looked at it, liked it and didn't make an offer bypassed a great bargain. I finally gave up and now rent it out to what seems to be a good tenant.

I don't plan on offering my condo at such a bargain price when I put it back on the market.

I think people are applying 2005 rules of real estate to a 2009 situation. Yes, in 2005, if people are offering a steep discount, there is very good reason for suspicion. But in today's housing market, people are just doing what they can to sell good properties.