Providence Neighboorhood In Mableton (Smyrna, Peachtree City: low income, foreclosure, rent)

[gagirl2011]

We are thinking about purchasing a foreclosure home in the Providence neighborhood. Can anyone give me any feedback about the area? We are late 20's almost 30 newly married couple. My husband works in Duluth and I work in Peachtree City so we were trying to find somewhere in the middle. The neighborhood seems nice and the house is priced right. $120K less than previous owner paid in 2006. How do you think the area will develop? We don't have any kids and not sure if we will. If that does happen we can move in a few years for better schools. I know the area isnt known for its school. I am more interested in the surrounding neighborhoods and area and what kind of neighbordood and lifestyle Providence can offer us. We have also looked in Smyrna, but in our price range we can only really afford nice townhomes.

With my job I always have the possibility of being transferred out of state, so if that happens we would rent it out if we couldnt sell. We just want to make a good investment. We are also 1st time buyers. Would this be a good investment?

[spacelord75]

I actually lived in a townhome in this neighborhood from 2005-2007. It is a really nice neighborhood and a lot of friendly people live there. There was (and I'm assuming still is) a decent crime element that spilled in for the day-time break ins, but this never happened to us. There is a security guard who mans the gate during the day and this helps a lot. You would always feel safe walking in the neighborhood itself. The surrounding area, although ripe to explode with growth in 2006/2007, has stagnated and it is mostly industrial or low income (save a handful of other neighborhoods built in the 2000s). There is a trailer park that backs up to Providence (in the new clear-cut area in the back) and the original townhome area backs up to a conservation area around Nickajack Creek that has a "trail" that actually takes you to the Chattahoochee. Having explored this area myself, it is cool, but somewhat nerve-wracking b/c there is obvious evidence of people hanging out in these woods (clothes, beer cans, trash, etc.) and you walk under Discovery Blvd and it feels sort of sketchy.

I feel like Providence can be a good investment opportunity (more so than other developments in the area) because it is high quality construction and the John Wieland name. Also the amenities are top notch and the HOA is pretty good. You just really have to hope that the outside areas eventually pick back up. I remember in 2005 this areas was HOT...townhomes in Providence were selling for $300k+ and SFHs were selling for $450ks, but that is long gone.