Lee Taylor

I pay Nate Dorn at Dornstar Productions a few bills for my quarterly videos and I pay the best Intown Atlanta Virtual Tour Service, showing247.com, led by Trulia Voice, Lisa Crowder, a few bills for every online flyer. Best marketing dollars that I spend.

What makes this narrated slide show so special, Mary?

Most of those are done extra cheesily and only work on mind numbed exurbans... - Earlier today

East of the I75-85 connector and including the MLK Jr. Historic district, West of the Beltline and "Railroad Gulch" with a Northeast corner near City Hall East and a Southeast corner near Studioplex at Irwin and Auburn, South to Dekalb Avenue and Decatur Street and North to pretty much North Avenue.

Those dimensions are off the top of my head-google it and check the O4W Neighborhood Association site for sure, because I'm not sure if the Central Park area and the condos and apartments in the "SONO" district along Ralph McGill and up to the Publix shopping center at Piedmont, and up to places like the Krispy Kreme are included.

There's a wikipedia entry that's loaded with details too-look it up! - Tue Jun 30 2009, 12:55

There are a lot of overpriced houses in VAHI.

I like to think on these terms when considering a house on a busy surface street with thousands of cars going by it on a daily basis:

1. Security
2. Exclusivity
3. Desireability
4. Stateliness
5. Practicality

Meditate on those concepts.

If Laurie says it's a pretty house, then it must be a pretty house.

I wouldn't pay anywhere near full price for it-not in this buyer's market.

Houses on busy surface streets are stigmatized and they do not appreciate like houses on quiet tree lined streets, especially with the economic outlook ahead for the next 20+ years.

You probably will not be able to sell it for your Summer 2009 purchase price at any point in the near future unless you pump equity into the house, making it even more special.

I imagine that it's a remarkable home, and I imagine that the seller has a lot to be proud of, and I love the location but are you going to be the sucker that overpays for it? - Sun Jun 28 2009, 18:35

Your question is far to general to yield a vivid opinion of "betterness," but if you base the decision on general "after repair value" demand trends, and if you look at pending sales happening "right now" then East Point wins.

Both submarkets require street by street and house by house analysis.

What does your agent think? - Fri Jun 26 2009, 14:01

Satsuma,

Hank makes a really good point, but Hank, there are a wealthy few who can't resist the risk/reward of buying and flipping, and for some reason, buying and holding, as absentee landlords, in Atlanta.

Everybody loves that domestic migration stat from U Haul.

Everybody loves our low, low prices!

One of the smartest real estate people that I know would probably advise like Dave Caplin is advising.

Another one of the smartest real estate people that I know rents a 4 year old, never lived in, $3 Million house in Naples that would not sell for more than $800,000 today, divested all of his rental properties over 3 years ago, and will not be buying again until 2012-2013. He believes that things are going to get even worse with Alt-A and other subprime loans foreclosing, particularly in the luxury markets. He believes that white collar unemployment is getting worse, in many submarkets of the USA.

Another one of the smartest real estate people that I know is an old Army buddy of mine that walks around with his hair in cornrows, packs a couple of different weapons in his pickup truck, and decided to become a real estate investor in Intown Atlanta with his retirement money. He's leveraged about $100,000 into about 20 or so properties in the past 2 years - he is the judge and jury with all tenants, and his ROI would probably kick your ROI's weak, single digit ass.

Some of his properties are in that College Park area that you referenced, but most of them are along the Westside corridors a few miles outside the city limits. He's doin' the Bankhead bounce.

Your Decatur area choice isn't a bad long term rental, especially for Section 8 rental.

There is no substitute for hands on landlording, but if you like single digit annual returns as a hands off absentee investor, then go for it. Atlanta needs some inventory absorption and your cash is king. - Tue Jun 23 2009, 06:44