Historic West End (loan, home, buy)

[plessthanpointohfive]

I was just in West End yesterday. I went to the Goodwill there to look at some cast-off furniture (looking for a vanity I can paint and tile). It was bustling with activity and there's a lot of new construction going on. It's most definitely on the up and up.

[stoddaro]

We drove through West End this past weekend during the tour of homes. There are some really great areas, and there are some okay areas with a large # of vacant homes badly in need of TLC. I agree that Peeples, Oglethorpe and some others are good. There's a slightly different vibe south of Abernathy, and then just north of I20 the area has been re-developed (near the colleges). They all seemed safe and on the rise.

What do folks think of the area around Brown Middle School? I saw a few neat places for sale there and am thinking of making offers.

[fierce_flawless]

I have a question about the homes in these areas....

I saw some under 100k. Are homes under 100k in this area going to need renovation to an extent that obtaining financing would be a problem?

Any guess as to whether or not homes in this range will be available in a few years?

I'm curious about the financing, because when I bought my old house (1915 cottage/bungalow in San Antonio texas) many homes I looked at were ruled out because the mortgage companies would not finance them due to upgrades needed. For example one Victorian I almost bought needed lots of plumbing, electrica workl, and had no gas lines or any other heat source. My mortgage broker nixed it. I ended up getting a much smaller, more "modest" place because I finally found something that, while old, had all the major issues covered (foundation, roof, electrical, plumbing all modern and maintained).

I don't desire a mansion, just a charming little older home. I currently have this;

http://a903.ac-images.myspacecdn.com...1f03a15d96.jpg

and I wish I could just pick it up and bring it with me to Atlanta!

[Cubana]

Dear Fierce flawless

I am a mortgage broker living and working in West End. To get a a loan, the main thing is that it pass an appraisal. That mean there must not be any structually problems. If it can not do that then you can get either a construction loan or a FHA 203k loan to fix it up.

Most of these homes will need plumbing because of the copper have been stolen, some may need electrically but many already have been upgraded. Some will have central air and some wont.

[davesm]

Each house will have its own situation as far as the condition it is in vs. price. The home next to me (currently under contract) was completely renovated (Earthcraft Certified even) and needs nothing with an asking price less than 100k. The other home next to me is also near mint (Big 4/3 asking 250k, but negotiable). These are 2 examples of homes in fantastic shape for sale in Historic West End. Of coarse there are many that need renovations (minor/cosmetic - major renovations), but realistically that was the case in other great intown neighborhoods.

Before I bought my home I looked at 2 others in West End and they all had updated electrical, plumbing, and HVAC. It really depends on the house, and if you totally fall in love with a particular home (happens easily around here) consider the renovation loan. A renovation doesn't have to be 100k. You can do wonders with 10k-20k, especially if you are a smart shopper and DIYer. Plus the neighbors here are helpful with recommending "good" contractors and local resources for period (Victorian or Craftsman) renovations.

And on a different note... Atlanta Board of Education has approved the Kindezi Charter School that will be located in Historic West End on RDA! It will open Fall 2009 and is K-8. This is wonderful news for those that live here and have kids.

[fierce_flawless]

Thanks to you both (previous 2 posters). This is really exciting! Now, hoping something is left that's affordable to us by the time we make our way to Atlanta.

[West End Fan]

There's SO much good information in this thread! I've recently been introduced to the West End neighborhood and fell in love almost immediately. I was there for the first time just over a week ago and I've already been out looking at houses. It's really good to see all of the residents, old and new, taking such an enthusiastic interest in their neighborhood. Thats one thing that truly sets the area apart. I've lived all over the country and never seen a group of residents who are so in love with their community.

My wife and I have already met a few people in the neighborhood and are looking forward to find our place there.

[VirtualM]

We moved into our West End house this weekend and so far we love it! We had the problem of falling in love with a home that needed extensive renovations - but we were able to do some creative financing and nine months later (we did a lot of the renovations ourselves,) it's livable and we're so excited to finally be here. Our street is very quiet and we love our neighbors. Plus - we got the whole huge house finished for under $150k (to my husband's particularly high standards) - can't ask for better than that! We were so pleasantly surprised when we found the area late last year and we're very happy to be a part of it.

[LoufromNewYork]

I'm sold.

I'm ready to get my wife to think about buying a second home in West End.

Can anyone let me know what areas of West End I should focus on? I'm not looking for the top of the line, but something just outside so we can get in and put our own touch on it.

Please send me a PM - Thank you in advance.

[West End Fan]

Congrats VirtualM on the move to your new home!

Does anyone have a name of a good contractor that works with 203k loans? I'm getting preapproved for a loan as we speak, and the house we've picked out needs some help so we opted for the 203k. I've got some time before I need to make any contact with a contractor, but I haven't found any straighforward resources online for one in the area. If you have or have friends, family, neighbors that had a good experience with a contractor that understands the 203k process and is ok with that, PLEASE let me know!