Affordable Townhomes (Atlanta, Dunwoody, Chamblee: 2015, foreclosure, mortgage)

[cwkimbro]

The area you are talking about it is a high-demand area.

Perimeter Center is mostly white-collar jobs in numbers that almost rival downtown in job numbers.

It is more spread out, but it brings a high demand for almost white-collar only people that tend to make decent wages.

Problem 2) Is our market has rebounded very strong since the recession, yet the recession put many local and mid-size builders out of business and caused contractors to leave the area or the industry. Builders can not get back to building fast enough. Demand is outpacing new-builds and needs more time to find an equilibrium as more people see see the profit potential and enter the market/start new building companies.

problem 3) typically new builds do costs more. Atlanta might be relatively inexpensive to other areas, but that doesn't mean every exact thing is cheap. If you want something that will increase the price, it will still increase the price.

Now an older towhome in norcross will be about half your budget, so plenty of options exist. It is just a matter of what you give up....

I think your options will be limited in Brookhaven, but I think Chamblee and Doraville will have options, but that will run to over your budget to right on to below your budget.

[jhtrico1850]

I'm building a 3 story 3 bed 1800 square foot house at Copperleaf at Global Forum in Doraville for 240. About 15 minutes to Perimeter Mall, and close to the upscale Peachtree Corners shops too.

If you're looking for something bigger
Chestnut Place in Doraville | AtlantaTownhomes.com
Chestnut Place sells for around 350

[SAAN]

What am I doing wrong in life where an affordable town home is around $300K lol. I was thinking $150K tops when I saw the title. Guess the prices on the Eastside of town are very good compared to the North side.

For 300K, I better be a Mansion type townhome.

[cwkimbro]

Originally Posted by SAAN

What am I doing wrong in life where an affordable town home is around $300K lol. I was thinking $150K tops when I saw the title. Guess the prices on the Eastside of town are very good compared to the North side.

For 300K, I better be a Mansion type townhome.

New build townhomes prices are through the roof right now city-wide.

They are getting larger and more friendly for mid-size to large families, however. They are also using brick more often.

Even in mid-quality school district in Lilburn off of US78 townhomes are reaching $210k +

It isn't exactly a townhome/trendy conducive area. In Lilburn city townhomes in a great school district are being advertised starting at $280k. We will see if that price sticks...

If you go towards Western Gwinnett/N. Fulton that trend continues and can get even more expensive, depending on the school district.

But I just thought it was telling how high those prices were getting ..... in Lilburn... for a townhouse.

In most northern and eastern areas ITP I'm finging $500k+ to be common and $350k+ to be common in the peripheral areas.

I actually have been lightly looking for myself. I need something with extra space to have a home office and workshop, yet low maintenance and safe enough that I can travel away for the majority of the year and preferably garage park my car.

[SAAN]

Originally Posted by cwkimbro

New build townhomes prices are through the roof right now city-wide.

They are getting larger and more friendly for mid-size to large families, however. They are also using brick more often.

Even in mid-quality school district in Lilburn off of US78 townhomes are reaching $210k +

It isn't exactly a townhome/trendy conducive area. In Lilburn city townhomes in a great school district are being advertised starting at $280k. We will see if that price sticks...

If you go towards Western Gwinnett/N. Fulton that trend continues and can get even more expensive, depending on the school district.

But I just thought it was telling how high those prices were getting ..... in Lilburn... for a townhouse.

In most northern and eastern areas ITP I'm finging $500k+ to be common and $350k+ to be common in the peripheral areas.

I actually have been lightly looking for myself. I need something with extra space to have a home office and workshop, yet low maintenance and safe enough that I can travel away for the majority of the year and preferably garage park my car.

WOW, I didnt know they were that high now...guess Ill wait until the next housing collapse to leave my current town home.

[atlHawks]

Originally Posted by SAAN

What am I doing wrong in life where an affordable town home is around $300K lol. I was thinking $150K tops when I saw the title. Guess the prices on the Eastside of town are very good compared to the North side.

For 300K, I better be a Mansion type townhome.

Where? Alabama?

[jhtrico1850]

Originally Posted by SAAN

WOW, I didnt know they were that high now...guess Ill wait until the next housing collapse to leave my current town home.

The sticker prices are insane, but with low interest rates, the most important figure is payment/ debt to income. 2 $50K (entry level after college) earning people can qualify for $400k/$3k monthly payment per Zillow. Atlanta has lots of corporate headquarters and lots of people that combined make more than $100K.

If you see a house you like, and it fits your budget, you should go for it, rather than wait for a drop that may not happen. Atlanta is structurally going to grow for decades unlike the decaying Midwest

[ATLTJL]

A couple bringing in $100k a year would be fools to buy a $400k townhouse, especially if it had full association fees. They would have absolutely zero cushion if one of them were to lose their jobs and they definitely wouldn't be saving enough for retirement.

[jhtrico1850]

Agreed, but I'm just saying, that would be what a typical bank would approve at the margin, just demonstrating that lots of people can qualify for relatively expensive houses, which is why the market is bearing the high prices.

[samiwas1]

Originally Posted by cwkimbro

New build townhomes prices are through the roof right now city-wide.

They are getting larger and more friendly for mid-size to large families, however. They are also using brick more often.

Even in mid-quality school district in Lilburn off of US78 townhomes are reaching $210k +

It isn't exactly a townhome/trendy conducive area. In Lilburn city townhomes in a great school district are being advertised starting at $280k. We will see if that price sticks...

If you go towards Western Gwinnett/N. Fulton that trend continues and can get even more expensive, depending on the school district.

But I just thought it was telling how high those prices were getting ..... in Lilburn... for a townhouse.

In most northern and eastern areas ITP I'm finging $500k+ to be common and $350k+ to be common in the peripheral areas.

I actually have been lightly looking for myself. I need something with extra space to have a home office and workshop, yet low maintenance and safe enough that I can travel away for the majority of the year and preferably garage park my car.

Even our 11.5-year-old 1-car-garage townhomes in Upper Westside in a normal school district are going for upwards of $230, and edging on $240 right now for 3BR/2.5BA (Not sure what our 2BR, 2.5BA would get). Just five years ago, they were selling at $115, after dropping from the low $200s. They sell in a matter of days.