Grant Park - Lots of House Flippers? (Atlanta, Druid Hills: for sale, rentals)

[mistersocks]

Grant Park is one of the neighborhoods I'm considering buying in, but I'm a little concerned by what seems to be a lot of failed flipper activity there...half-finished renovations, properties that have changed hands multiple times in a short time, and overpriced rentals that look like they're straight out of "Flip This House" with the required granite/stainless/travertine/cherrywood cabinets. (Soooo 2004, guys.)

A quick sampling from craigslist:

@@@WALK TO GRANT PARK! GEORGEOUS CAPECOD CRAFTSMAN DETAILS HUGE YARD@@ (http://atlanta.craigslist.org/apa/706687321.html - broken link)

And another, same renovation, different house:

Price Just Dropped! Large 3 Bedroom Home Available for Rent (http://atlanta.craigslist.org/apa/705081851.html - broken link)

Your thoughts?

[atlantagreg30127]

When you get into some of the inner city neighborhoods that were once known as "bad" and are slowly coming around, you will see a big trend in flipping. And you got one point right - Craig's List is one of the best places you can see it in action due to the way the ads are worded.

In some cases the "flippers" are doing good renovations. In others (maybe more often than not) they're slapping some paint and granite countertops in a place and trying to pass them off as $250,000 homes.

As with any type of home buying, you should have a home thoroughly inspected before buying - especially the older intown homes.

[BobKovacs]

I had to laugh at the first house you linked to- the first line of the description reads "stunning craftsman cape cod". First of all, the house is far from "stunning"- it's a crappy little cape that happens to have a new kitchen and some crown molding. Secondly, "craftsman cape cod" doesn't even make sense- they're two totally different house styles. The house is a cape- adding a few natural wod shingles on the front (only around 10 square feet....lol) and flat casing on the windows doesn't transform it into a "craftsman" home. Maybe they meant that the flipper used Craftsman tools from Sears???

Ohh, and the kitchen is described as "breathtaking"- sorry, but a 1950's L-shaped layout with 8 feet of countertop (including the sink) isn't exactly what I'd call "breathtaking"- but maybe I'm just picky like that.....lol.

[lane421]

I would guess you would find that kind of stuff anywhere with the market in the condition it is in.

Grant Park is really a great place to live - there may be houses under the conditions you stated - but it is not evident living and walking around the park. So I wouldn't let it scare you away from the neighborhood. I'd invite you to come walk around the park one afternoon or weekend day to get a good feel for it and check out some of the nicer homes for sale.

[Merin]

this is most likely a problem with many of the in town neighborhoods in the gentrification process. I agree with the previous poster, come to Grant Park and see how you like it. I live in the area and love it.

[mistersocks]

Originally Posted by BobKovacs

Maybe they meant that the flipper used Craftsman tools from Sears???

Okay, that was hilarious.

What's especially weird about these Grant Park flips is that I assume the type of person that would move in there is going to be a little artsy, a little off-beat...exactly the kind of person that doesn't want a kitchen that looks like a Beazer model home.

I've hung out several times in Grant Park and know a few people who live there, and I like the place quite a bit. But these flips do give me a bit of pause, they create an impression of a little bubble that's burst. I'm wondering if it's worth biting the bullet and paying a little more/getting a little less for a more established neighborhood like Candler Park. Seems like ATL neighborhoods take a while to turn around, since there's so much supply of land and property around here (at least compared to LA). Grant Park is in competition with East Atlanta, Kirkwood, Oakhurst, just to name a few other neighborhoods.

[plessthanpointohfive]

I think the best bet is to buy a home in any of those areas that needs a little reno and do a custom job yourself.

Oh, and I don't think Grant Park is behind Candler Park in gentrification. I think they're about equal. It's only taht Candler Park has other gentrified neighborhoods surrounding it (Inman Park, Lake Claire, Virginia Highland) as well as always nice places like Druid Hills. Grant Park suffers from the stigma of the yet-to-be-fully-gentrified neighborhoods around it.

[plessthanpointohfive]

Oh, and it always cracks me up when someone calls a home Craftsman when it's clearly NOT. I guess the seller is thinking it's trendier and therefore easier to sell. But there's nothing wrong with a Cape Cod, or even a ranch if it's done right.

My favorite is when they call a house a Victorian and it clearly has none of that Victorian Inman Park think going on. And I'm not talking about Folk Victorian...I'm talking about just calling a two-story house with a pitched roof a Victorian.

[Iconographer]

Originally Posted by plessthanpointohfive

I think the best bet is to buy a home in any of those areas that needs a little reno and do a custom job yourself.

Oh, and I don't think Grant Park is behind Candler Park in gentrification. I think they're about equal. It's only taht Candler Park has other gentrified neighborhoods surrounding it (Inman Park, Lake Claire, Virginia Highland) as well as always nice places like Druid Hills. Grant Park suffers from the stigma of the yet-to-be-fully-gentrified neighborhoods around it.

I agree, Pless...Grant Park for years also had the 'south of I-20' stigma attached to it as well; while I don't think that perception is as strong as it used to be, it still lingers out there.

[mistersocks]

I guess it depends on what you call gentrification. Grant Park and Candler may have a similar number of rehabbed houses, but I'd much rather walk around Candler at night than GP. There's a lot to be said for being surrounded by nice neighborhoods. One friend in GP was wondering why her car started smelling funny. Then one morning she got up early and found a homeless dude still sleeping in the driver's seat. Maybe I have an overly rosy picture of Candler, but I don't see that happening there.