Atlanta home prices listed as second most "overvalued" in nation (Auburn: rental homes, HOA)

[cwkimbro]

Originally Posted by cqholt

Will we see Perimeter Center go down because that area has a huge amount of apartments and some are starting to get old?

well you will run into 2 problems with this line of thinking.

Perimeter Center is in the middle of a business district with lots of well paying jobs and there are plenty of newer apartments in the area as well.

Buford Highway and as Jeoff pointed out Memorial Drive were just long suburban strips full of apartments with no real drivers for market demand in the long-term. Buford Highway was also running near and along industrial and blue collar areas. Memorial Drive was similar, but there were more leafy traditional suburbs around it.

O4W and Inman Park developments won't always stay as nice, but I think i would side with Ant's opinion a bit more compared to the more cautious point of view from bu2. There is always ups and downs with most developments, but O4W and Inman Park has some location advantages and infrastructure advantages being built by the Beltline program that won't go away.

I just can't see apartments in those areas bottoming out as badly as Buford Hwy and Memorial Dr did.

[cqholt]

Originally Posted by cwkimbro

well you will run into 2 problems with this line of thinking.

Perimeter Center is in the middle of a business district with lots of well paying jobs and there are plenty of newer apartments in the area as well.

Buford Highway and as Jeoff pointed out Memorial Drive were just long suburban strips full of apartments with no real drivers for market demand in the long-term.

O4W and Inman Park developments won't always stay as nice, but I think i would side with Ant's opinion a bit more compared to the more cautious point of view from bu2. There is always ups and downs with most developments, but O4W and Inman Park has some location advantages and infrastructure advantages being built by the Beltline program that won't go away.

I just can't see apartments in those areas bottoming out as badly as Buford Hwy and Memorial Dr did.

O4W and Inman Park are in close proximity to Midtown and Downtown.

[jeoff]

Originally Posted by cqholt

O4W and Inman Park are in close proximity to Midtown and Downtown.

I don't think that O4W or Inman Park are even close to their peak, much less going down. They are gentrified single family housing that are about as close to the City's core as possible--they *should* be among the most valuable areas of the city. I think that for those places to get hit hard sometime in the next 20 years--very bad things will have to be happening all over.

[cqholt]

Originally Posted by jeoff

I don't think that O4W or Inman Park are even close to their peak, much less going down. They are gentrified single family housing that are about as close to the City's core as possible--they *should* be among the most valuable areas of the city. I think that for those places to get hit hard sometime in the next 20 years--very bad things will have to be happening all over.

O4W will not until the entire Boulevard Corridor is redeveloped.

[jeoff]

Originally Posted by cqholt

O4W will not until the entire Boulevard Corridor is redeveloped.

...but it's inevitable (just too much money to be made for it not to happen)...which is why I say O4W is not even *close* to its peak.

[bu2]

Originally Posted by jeoff

Thinking Memorial Drive-Stone Mountain in the 80s?

Or Buford Highway which had a lot of young singles in the 80s. And I can name at least 4 areas in Houston that did that, all of which were pretty nice at one point in time (80s-90s for anyone familiar with Houston-Gulfton, Sharpstown, Westwood, Fondren Southwest).

Again, I don't expect that to happen in Inman Park and O4W. But it is a risk if things get overbuilt and apartments get too concentrated. One or two get bad and there is a domino effect.

[LovelySummer]

I guess I'm on the side that says O4W and Inman Park are not really all that nice but well-located. In real estate, location is everything. Otherwise, take Inman Park and O4W out to a random area outside 285 and we might even say the areas are a little unkempt and shoddy. It's all location. Sorry. Real talk. Take these areas out of the city and suddenly nobody's going to spend the money to live in these neighborhoods.

There are actually very few neighborhoods ITP that actually *look nice* versus looking *decent* for ITP locale and being well-located. There are a couple of streets in Candler Park that look really nice, Druid Hills off Ponce ITP looks nice and there are areas within Brookwood Hills, Garden Hills towards Piedmont and the area of Buckhead west of Peachtree Street. There are a few streets in Midtown. There are a couple of streets around the Zoo proper at Grant Park. These look nice. The rest of ITP looks pretty questionable on a random day.

Of course, I'm the person that said Peachtree Hills was a mess and I could not figure out why people are paying in the 600s to live there. I made that statement at least a year ago, along with the statements about how many areas ITP don't even bother to rake their grass (or trim their bushes). I guess people think ITP means let it all hang out since you're close in. So yes, I could see the overpriced thing. I think mostly in Atlanta, it's all the hype about public schools mostly being so bad that is driving the pricing. The sad part about it is I think the public school thing is one part bad rep on the part of education in the south and one part people's fear of sending their kids to school with kids that are different than their own kids.

No way half of those old ranch houses in Sarah Smith and Morris Brandon are worth a penny over 275-300K. But again, fear + school rep = overpriced housing.

Originally Posted by ATLTJL

Old Fourth Ward/Inman Park.

Nice area, but absolutely no reason prices should be as high as they are.

[Clayton white guy]

Lovely Summer, I might can follow you some what on Old Fourth Ward/ Sweet Auburb, but Inman Park is gorgeous: lovingly restored Victorian homes with beautiful gardens and trees that meet in the middle of the street. It would be the exact neighborhood that this Atlanta native would buy a home in if I could afford it. Inman Park embodies southern nostalgic romance to me!

[LovelySummer]

I must have missed those streets. Please point me in the direction. Got any street names by chance? I'd love to check out what I've missed. I do love Victorians too.

Originally Posted by Clayton white guy

Lovely Summer, I might can follow you some what on Old Fourth Ward/ Sweet Auburb, but Inman Park is gorgeous: lovingly restored Victorian homes with beautiful gardens and trees that meet in the middle of the street. It would be the exact neighborhood that this Atlanta native would buy a home in if I could afford it. Inman Park embodies southern nostalgic romance to me!

[Clayton white guy]

From Five Points in Downtown Atlanta, take Edgewood Avenue east/ northeast. Drive through the southern fringes of Old Fourth Ward/ Sweet Auburn along Edgewood. You will hit a "gritty" ,to steal a city data term, warehouse area and after a few blocks (like someone threw the pretty switch) you will find the western frontier of Inman Park. Exquisite Victorian mansions with their lovely garden start instantly! Continue along Edgewood Avenue to you get to the sign that proclaims, "Historic Inman Park, Atlanta's first suburb" make a left on Euclid Avenue. This is the heart of this marvelous community. You will pass the former mansions of Samuel Inman (for whom the neighborhood is named), Joel Hurt (Hurt Park and the Hurt Building), and the Candler family (of Coca-Cola fame). Finally, you will pass the old Bass High School and enter Little Five Points west of Moreland Avenue. (You can also reverse this and enter through Little Five Points via Euclid Avenue going west from Moreland Avenue.