Does anyone know someone looking to buy a studio condo in Atlanta? (sales)

[smythep]

I have a fairly tight timeline before I am moving out of my condo in Midtown, and I am looking for some help finding someone to sell it to. The condo is the only thing under 100k in all of Midtown (check out Zillow or Redfin for proof).

It's listed for 97k. Very low price. I've got an assumable 85k loan, so it should be a fairly easy closing. The listing is here:
https://atlanta.craigslist.org/atl/reo/5987245020.html

Anyone know someone in the market in Midtown?

[ATLTJL]

There's actually another unit in your building that is on the market for $2k less and it has upgraded counters and cabinets like you don't.

You'll probably need to adjust your price accordingly.

http://ga1c83.listingdetails.com/lis...p_bounds=false

[atltechdude]

Originally Posted by smythep

The condo is the only thing under 100k in all of Midtown

Considering the first reply, this would appear to be false and you might want to become a bit more informed about the condo market.

Also check recent sales of similar condos not just what is currently listed as the recent sales are more of an indication of what you can expect to get for a place.

[ATL Golfer]

ATLJ - That unit is not longer available and was under contract in less than 30 days, indicating a strong offer.


I've owned a couple of units in there before that I've flipped.

The first 1bd I didn't get over $80k for.....but I bought it for $50ish. Not its worth over a $160k three yrs later. Should have held onto it! Then another I paid $85k for another and sold for $119k. The good old days!!

If you pay down the mtg a little more I'll buy with no agents maybe. You're credit won't get hurt by having to short sell it or get foreclosed on. And you won't have to come to closing with cash like you would be doing now. You're not getting that price for it. Last two sales were 82 and 85 for that stack.

[InternationalWaves]

While that past listing looks much better than the original listing (maybe even bigger?).. In any case is a 22nd floor vs a 1st floor plus views factors are considerable when you price them take a peak of the views alone..Top floor vs lower or bottom floor do add up..Think wisely.Best of luck.

[southkakkatlantan]

Didn't realize this building had studios.

[smythep]

Happy to answer any questions. My "under 100k" comment was talking about active listings only. If you go on a site like Redfin or Zillow and set a 100k price maximum you will find mine very quickly because it's the only one.

It's got really nice views which was one of the primary things I was looking for. Very nice condo in an area that is getting a lot of development (and new retail) and is directly across from the MARTA.

Regarding the price, I think it is very reasonable. The market has adjusted from last year's cycle. Inventory is lower than ever, and the next cheapest unit that I can see in the same building (I don't have MLS access to search) is 109k. I'm clearly biased, but I think it's an excellent value for Midtown Atlanta.