All Forum Posts by: Mike H. Jones

Agreed. If we're speaking about Atlanta specifically, I don't think there are anymore "F" areas. Of course you have the Bankhead and English Ave areas, but the proximity to the city make these A areas for investors (which is why I believe we barely ever see any of these homes on the market, these homes are going for 60k-125k cash when they're finally put on the market).

The "D and C" areas can be considered the outskirts of the city (parts of 30331 and 30318 and parts of 30315 near South Dekalb), but those areas don't really see a ton of horrifying/frightening crime ; at least not crime that's worth more than a security system, a fence, and ample street smarts. Then you have a few areas along MLK, but its pockets.

Then you have the Oakland Citys, the Pittsburghs, and some pockets along Campbellton Road, but those homes are on their way to being worth $250k+

So I agree, not many D or F neighborhoods in the city anymore, and your C's are the outskirts.

New townhomes off of Main Street in College Park were recently announced. Price points start at 300k and the development is expected to be complete around late 2019. Main Street turns into Northside Dr just 15mins up the road, so the development in this area is only bound to increase and expand. Not to (re)mention the 320 Acre development directly off of Main Street, Airport City College Park.

The Aerotropolis Alliance has also conducted transit studies to assess the feasibility of transit in the area. What I know know is that the Skytrain will extend from the Airport and surrounding areas, across Camp Creek Parkway, to Airport City. They are also considering heavy rail  along Camp Creek Parkway, as well as autonomous vehicles and aerial tramways.

What makes this area fascinating is that you have a lot of ground to be creative. Should be interesting to say the least.

Construction of Airport City College Park is expected to start in late 2018, and to take about 24 months to complete. This will be an interesting anchor.

@Rashida Sigmond

As a recent buyer, I looked into all of 30314 east of Chappell Rd, the area in 30318 south of Perry Blvd, some parts of 30315, and all of 30310 and 30311. I also checked out East Point and Hapeville. In my case specifically however, I did not want to exceed a purchase price of $150k (imagine seeing the same homes that were on the market 2 years ago for 90k at 170k!) , so this lessened my options a bit.

If I were to make another deal soon however, I would heavily consider the areas near Fort McPherson, including East Point, Venetian Hills, Adams Park, Sylvan Hills, and what's left of the inventory in Oakland City.

I think most would agree that the City of Atlanta is experiencing an upswing. However, most would also agree that most deals that were around even a year and a half ago (and definitely 3-5 years ago) are long gone. You will more than likely pay anywhere from 40k-80k more than you would have in previous years and the bargain homes on the market now (sub-70k homes) are in tucked in areas that likely won't see the same amount of development as other areas and/or need tons of work already. So to answer your question, imo, we've definitely leveled off and this started around Fall of last year. 

If you're looking for a bargain in an area that will soon appreciate (1-3 years), I would heavily consider the Grove Park/30314 area while I still can, and even then you'll likely run into a bidding war. For buy and holds that will take 3+ years to appreciate, I would heavily look into Historic South Atlanta, Lakewood Heights and anything near Fort McPherson.

I think that the current home prices in Pittsburgh are somewhat artificial due to the recent Beltline announcements and the proximity to downtown...I mean man, prices have literally shot up $130k on some streets in one year there. Kinda want to see what will happen to the area over the next few months. I have my eye on 30310 and 30314 more than anything, then I think the appreciation will start to spread to NW Atlanta (lower half of 30318) near the Westside Reservoir and along Donald Lee Hollowell, the rest of 30315 near Historic South Atlanta and Lakewood, and then ultimately down to 30311. 

I think East Point, Hapeville, and Historic College Park will appreciate shortly after as well due to prices already being pretty a bit more hefty in the other areas ITP; the luxury of getting to downtown/midtown within 20 or so minutes and not having to hop onto the interstate will make these areas attractive. I think the rumblings of the Aerotropolis will help these areas as well. I have my eyes on what happens on the Northside and Eastsides of Atlanta as well, especially in 30340 and the lower half of 30316 in Dekalb County. 

A dark horse is the lower half of 30315 below Lakewood ave and next to South Dekalb county...I wouldn't say there's a lot of blight, but there is a lot of abandoned homes. Would like to see what happens with this area.

I would like to imagine that the Super Bowl attracts buyers to Atlanta at a higher rate than many of the previous cities did. I don't think many of the previous cities had the "steam" that Atlanta currently has. In addition, the perfect storm of great/non-hazardous weather, the already strong economic base, the education base, all of the new developments and companies moving here, the new MLS team, the streetcars, the COL, etc. is enough to attract a significant portion of homebuyers who didn't even have intentions to move in the first place.

Now of course, it isn't easy as "I went to the Super Bowl in Atlanta and I loved the city, lets move!" But even with a 50k increase in prices from now until February 2019, prospective buyers, especially from the West Coast and Northeast, will still be laughing at some of the prices ITP.

I predict that it will be hard to find a 3BD 1.5BA property under 200k ITP a year or so after the Super Bowl. 

This is 100% speculation from my brain of course, but this is an interesting topic nonetheless.

So apparently the price points for the residential homes in the newly announced 320 acre development will have price points from 200k to 1M. Hard to see townhomes being able to ask for 1M, but I suspect there will only be around 5-10 of these homes with this price point out of the 192 planned units. I envision this area as being a hotbed for movie stars, executives, and other high profile individuals who pop in and out all of the time. 

This article sums it up perfectly:

“Our latest inventory data tells us buyers are out in full force this spring,” said Javier Vivas, director of economic research for realtor.com. “Never in history have there been more eyes on fewer homes than today.”

The housing market has seen a 7 percent decrease in days on the market from last year to 63 days, and total listings decreased 8 percent year-over-year to 1.29 million. Buyers will face competitive conditions this season due to continuing inventory depletion carrying over in March housing trends.

While there has been a slow down at the rate that total listings are staying on the market, 36 of the largest 100 markets in the country are still seeing inventory move at least a week faster than this time last year, according to Vivas.

“March housing trends show the inventory depletion we’ve seen over the last two buying seasons is carrying over to this year,” he said. “It’s going to be a languid search for buyers this season as they face the harshest, most competitive buying conditions yet.”

Inventory between $200,000 and $350,000 remains low and it is nearly non-existent for homes under $200,000, while new listings above $300,000 remain healthy. Based on these current trends, one in 12 listings nationally will be listed above $1 million this summer, and one in three will be listed under the $200,000. Compared to in February where homes above $1,000,000 made up only one in every 40 home sales.

“At the end of March, we observed price gains that put us on pace for half of the homes listed this summer to be above $300,000,” Vivas said. “Buyers are not just paying more for the same home; the mix of homes in the market is rapidly changing.”

This is country-wide, but just imagine the rate it's happening at in Atlanta given the development, corporate success, announcements, cost of living, world class status, etc

 https://atlantaagentmagazine.com/2018/04/11/home-p...

Back in 2016 and even as recent as summer of 2017, I seen probably 1.5 more or perhaps even double the houses that are on the market now, especially in hot areas

Take all of 30314 and parts of 30318 for example, in 2016 there were lots of homes on the market being sold anywhere from the 60k-110k price points...duplexes, turnkey SFHs, 2 and 3 story homes,  SFHs with over 2k sq ft, just about everything...sure they needed work but the bones for most of the homes were decent and with maybe 15k-30k of work, you would have a home that could be priced in the 300ks in the next two or so years.

Now, I see maybe 1 or 2 of those in 30314 under the 180k price point that hit the market per month, and then those homes are fought over like sharks over sardines. Looking for a 3 BD 1.5 BA? Your job just got 10x harder. The difference has definitely been noteworthy, and I noticed it while it was happening without any site or study reporting it, so the reports essentially confirmed it for me. Its almost borderline ridiculous when you compare the availability and quality of homes on the market from 2015-2017 to today, some may even get frustrated. Similar stories for 30310, 30311 and parts of 30315. Fall 2017 hit, that was your last chance to find a bargain in anywhere within city limits and anywhere ITP for that matter. Once the new year hit, almost everything was being bought up.

Imo, the quality of most of these homes on the market now don't hold a candle to the ones being sold 2 and 3 years ago. And if they do, the seller has jacked the price up by another 80k or so. Most of the homes selling for bargain prices now are in the Adamsville/Bolton Rd areas or way down in 30315 near Dekalb county...the two most outermost corners of the city and of course, those homes are in terrible shape quality wise.

Not much of a super statistical analysis, but using the eye test, inventory is way down and the homes available are not really attractive (with or without renovations).

320-acre development set to take off by airport 

"The city of College Park is launching a $500 million-plus mixed-use development on 320 acres, with potential to create thousands of jobs and representing a major step in making the region’s “Aerotropolis” vision of concentrated development around Hartsfield-Jackson Atlanta International Airport a reality.

The development site is on the north side of Camp Creek Parkway, west of Interstate 85 and Hartsfield-Jackson and across from the Georgia International Convention Center. About 250 acres are developable, with the remainder including the city’s nine-hole golf course and green space.

There is enough land available to accommodate Amazon.com Inc.’s proposed HQ2, which requires 100 acres and 8 million square feet. The project was not ready in time to be included on the list of suggested sites Atlanta and Georgia submitted to the online retail giant in 2017, but nonetheless the welcome mat is out if the Amazon advance team should choose to return.

At least one other corporate headquarters is interested.

The project can also connect to the Atlanta Beltline through the extension of existing trails and completion of trail projects already underway in the Aerotropolis area.

sked for a low estimate of jobs potentially created, Jones cited 3,500-5,000. The mayor thought 5,000-plus was conservative.

The project will include 4 million square feet of office, including corporate office, international headquarters, laboratories, medical and medical office; 1,000 keys of hospitality; 600,000 square feet of retail and entertainment, including street front retail, neighborhood shopping centers, freestanding retail, restaurants and entertainment; and 1,000 units of residential including townhomes, single-family, senior housing and multi-family, with price points from $200,000 to $400,000.

The development’s amenities will include multiple public spaces, multi-use nature trails connected to a regional trail system, and autonomous electric shuttle vehicles connecting the development with the Atlanta Hawks’ G-League arena, GICC and the airport. College Park has a grant to build a bridge from the GICC over Camp Creek Parkway to a walking path to the MARTA station. A transit study includes looking at extending the Skytrain to the development, and throughout Aerotropolis."

Article originally from Bizjournals (locked for membership via the site)

I'm excited to see what this becomes. The steam coming too Atlanta is too much to wait on development imo. I believe the development will be along/between Hershel Rd and the airport parking opposite the GICC. Huge news nonetheless. I remember reading something about it back in February, but figured it was only hearsay at the time. This article checks out though, read a lot of the same stuff in the previous article.

The mixed used development, office space, restaurant and shopping space and recreation space should bring a lot of attraction to this area. The much needed housing that is planned for the development will be the icing on the cake imo. Can't wait to read more and see what comes from this.