At what point are you buying for "show" (Atlanta: bank owned, short sales)

[mom2gurls]

I have been researching, researching researching. The three counties that come up are gwinnett(suwanee area), Alpharetta (north fulton) and east cobb.

I have seen WONDERFUL looking homes in the 200-250k range. And I have seen wonderful homes in the range of the 500-600s (if we were to stay in new york). All in the same areas of goods schools(in the three counties).

True, there are only a handful of swim/clubhouse/playground communities in that range.

But here is my direct question:

1. What counties offer more of a prestige factor (thinking in terms of resale)

2. What communites in those counties would you reccomend for up to the 275k range (5 bedroom, daylight basement, swim)

3. We can go more..but honestly...I really dont see that much of a difference.

At what point are you just wasting money and buying for "show". Really it seems like you can get a lovely home for a family in a nice development for 275k and dont need to go a dime over 300...

what gives.

Also I have seen many bank owned homes in these developments (newer)..short sales, builder closeouts (some are even new)...what gives..too good to be true? Anyone bought a home this way? I am tempted.

[Iconographer]

Originally Posted by mom2gurls

At what point are you just wasting money and buying for "show". Really it seems like you can get a lovely home for a family in a nice development for 275k and dont need to go a dime over 300...

The market does a pretty good job of valuation on its' own, with an exception here and there. Generally, the old adage 'you get what you pay for' applies...more square footage, 'bells and whistles', amenities, better location, 'cachet'.
Sounds to me like you're already looking in the right places.

[atlantagreg30127]

Originally Posted by mom2gurls

But here is my direct question:

1. What counties offer more of a prestige factor (thinking in terms of resale)

I will offer this bit of advice for what it's worth, having lived in the Atlanta area since 1984... it's VERY hard to predict trends in terms of ability to resale, value, and people's desire to live in a neighborhood.

Examples: When I moved to Atlanta, the areas of Stone Mountain and Norcross were considered extremely desirable places to live. Today, many sections of those areas are considered "avoidable" at best. Austell was considered a sleepy rural setting, and now in many areas it's also a "stay away from" area. Conyers was also part of the "outer suburbs" but a nice place to live if you wanted to get away from the city, and today many will avoid it as a choice. There was no way of predicting that these once sought-after areas would do a complete flip for the most part, and over time no doubt there will be areas that today are considered nice but ten years from now may be areas to avoid.

Of all the areas you list however, Alpharetta was considered very nice then, and still is a sought-after area today. Likewise, East Cobb is generally considered a good investment still today. West Cobb around "The Avenue of West Cobb" shopping area has also seen some upper-end development in recent years (pre-bust) and is a nice area to consider as well.

Just my opinion.

[PKCorey]

Conyers was also part of the "outer suburbs" but a nice place to live if you wanted to get away from the city, and today many will avoid it as a choice.

Why, Greg? Crime isn't bad over here.

The only reason, I wouldn't live over here is the distance from the city and traffic at times. Other than that, its a nice town....

[antiquesmountainapache]

Originally Posted by atlantagreg30127

I will offer this bit of advice for what it's worth, having lived in the Atlanta area since 1984... it's VERY hard to predict trends in terms of ability to resale, value, and people's desire to live in a neighborhood.

Examples: When I moved to Atlanta, the areas of Stone Mountain and Norcross were considered extremely desirable places to live. Today, many sections of those areas are considered "avoidable" at best. Austell was considered a sleepy rural setting, and now in many areas it's also a "stay away from" area. Conyers was also part of the "outer suburbs" but a nice place to live if you wanted to get away from the city, and today many will avoid it as a choice. There was no way of predicting that these once sought-after areas would do a complete flip for the most part, and over time no doubt there will be areas that today are considered nice but ten years from now may be areas to avoid.

Of all the areas you list however, Alpharetta was considered very nice then, and still is a sought-after area today. Likewise, East Cobb is generally considered a good investment still today. West Cobb around "The Avenue of West Cobb" shopping area has also seen some upper-end development in recent years (pre-bust) and is a nice area to consider as well.

Just my opinion.

I agree with Greg. I also don't know much about the Suwanee area, but East Cobb and Alpharetta have certainly stood the test of time. I don't believe you would go wrong with either choice.

[atlantagreg30127]

Originally Posted by antiquesmountainapache

I agree with Greg. I also don't know much about the Suwanee area, but East Cobb and Alpharetta have certainly stood the test of time. I don't believe you would go wrong with either choice.

When I moved to Atlanta, if someone said they lived in Suwanee people first had to look it up on a map, followed by, "Dear god, you live way out THERE? Why???", thinking it was the equivalent of living in Maine compared to Atlanta (as in boonies). Now it's just a suburb. Personally I've not heard any negative comments about the area from the few people I've known who live out there. It's still considered a nice area, although the commute into Atlanta if you have to make it can be from hell. And it's one of those "you never know" areas too - looking at lower Gwinnett's trends over the years, you can't help wonder how far it'll creep Northward as time goes on, too.

[mom2gurls]

Keep the advice flowing. For me its like comparing where I grew up (so cal) to where hubby grew up (nyc). There are certain counties/towns in those counties that have stood the test of time. (great phrase). Westchester is one of those counties in NY is one of them. (take the awful taxes/pricing out of the equation)--but that county is just "one of those counties" that 13 years ago it was crazy and its still crazy.

Keep in mind that the actual commute time is crazy here as well. ( I have lived so cal traffic and have dealt with the cross bronx and LIE). And I know atlanta isnt any better....BUT...at least I know we can have access to the city during off peak times, on the weekend which is whats important to us.

But this time, we def want to stay in the "test of time" areas...even if it means smaller house...

Would you rec any other county.

And just for laughs (I can do the research on the net)...what gives with the southern suburbs of atlanta....it cant be all THAT bad....or is just not as developed?

[mom2gurls]

Originally Posted by atlantagreg30127

I will offer this bit of advice for what it's worth, having lived in the Atlanta area since 1984... it's VERY hard to predict trends in terms of ability to resale, value, and people's desire to live in a neighborhood.

Examples: When I moved to Atlanta, the areas of Stone Mountain and Norcross were considered extremely desirable places to live. Today, many sections of those areas are considered "avoidable" at best. Austell was considered a sleepy rural setting, and now in many areas it's also a "stay away from" area. Conyers was also part of the "outer suburbs" but a nice place to live if you wanted to get away from the city, and today many will avoid it as a choice. There was no way of predicting that these once sought-after areas would do a complete flip for the most part, and over time no doubt there will be areas that today are considered nice but ten years from now may be areas to avoid.

Of all the areas you list however, Alpharetta was considered very nice then, and still is a sought-after area today. Likewise, East Cobb is generally considered a good investment still today. West Cobb around "The Avenue of West Cobb" shopping area has also seen some upper-end development in recent years (pre-bust) and is a nice area to consider as well.

Just my opinion.

Thanks greg..this is the information that I find very useful. Practical advice for newbies that just want the facts! Does anyone have any specific developments (up to 250-300k)...they have heard nice things about (or if you live in one, give me the inside scoop).. I have narrowed it down to area, now I want to narrow it down to specific developments.

swim/tennis/clubhouse/sidewalks/manicured lawns would be nice for our kids....gated would be even better.

[BobKovacs]

Many of the Cherokee County developments currently being talked about in the other threads would fit your list of criteria, other than gated. Gated communities aren't all that popular in the metro Atlanta burbs, and they're pretty useless anyway unless they're guard-gated.

I lived in Las Vegas for 5 years, where probably 70% of the developments were "gated", and within 3 months of the development opening, every pizza guy, pool boy, lawn maintenance firm, etc., had the gate code, so it provided no real security anyway. Tack on the fact that half the time the gates were broken, and you really saw the waste of having a gate. Guard-gated communities fare a little better, but you pay a large premium for that service, that won't fly in a $250-300k community.

[whynot1986]

Alpharetta (and when saying Alpharetta one should also think Milton, as the area that is now Milton used to be Alpharetta and the post office and everyone else will still deliver here if you say Alpharetta) and East Cobb have, like the above posts mentioned, stood the test of time. This is likely because they were, on average, somewhat higher-priced to begin with, have nice terrain, lakes, trees, etc (others may also), and drew a certain amount of high-end retail. The communities have always been well-managed and they have reasonable access to public transportation.

Also, for whatever reason, high-end builders chose these areas for their showcase homes, beginning some 20 years ago and continuing to this day. I know they do LOTS of research before building in an area, and the better ones chose these areas. The immaculate neighborhoods you see there today, even though some are up to 20 years old, maybe older, were well-planned and capitalized, and their upkeep was well-financed via enforced payment of homeowner dues. When dues start going unpaid is when the 'hoods start sinking and the malaise spreads to the general community. By attracting well-heeled families to begin with, this problem has largely been avoided in the premier areas of Atlanta.

Add to this that consistently, the ratings for best schools always include these areas. Lots of money is spent on facilities and faculty, and parent involvement is high due to a good number of SAHMs, and parent-sourced financial bolstering is usually forthcoming when needed.

We used to live in Roswell which shares many of the above features but also is home to a sizable community of migrant laborers. I am not commenting on the politics of this situation but it has inevitably led to stagnation in home values and perhaps reduction in some places. School test scores also suffer in places, due to a number of reasons.

By all accounts Milton, Alpharetta, East Cobb and Johns Creek have held up to the housing downturn remarkably well, losing very little value if any. Am largely talking about 'otp north' areas as I don't know that much about other areas. I know Sandy Springs is also doing well but I don't know if the public schools are that good, plus the traffic there due to a more concentrated business presence makes it less attractive to some.