Tuesday, June 7, 2011

Houses: What Do You Get for Your Money in Atlanta?

This week I've been showing homes to a client out in Grayson, Georgia.
According to my GPS, Grayson is about 30 miles from Atlanta.
It's an hour's drive more or less.

What's so great about Grayson?  Well, it's a small southern town with a main street, schools, churches, a library and a public park with a softball field. And  there are some pretty nice houses out that way. And it's close to my client's new job.

Here's what you get for $500,000 in Grayson:
Photos from the FMLS

Four-sided brick with 7 bedrooms and 5 full baths,
 6051 square feet including the professionally finished basement built in 2007

heavy moldings, site finished wide board hardwood floors

coffered ceilings

6 burner Viking cook top 

keeping room with stone fireplace

2107 square feet of finished basement and a 3 car garage.
I'm worried about this house appraising for $500K. The highest sale in the neighborhood in the past year was $466,000.

The Atlanta intown neighborhoods of Morningside and Virginia Highland are two of the most lauded in the metro area for their walkable, vibrant, hip-ness. There's a main street of sorts with restaurants, churches, shops and schools. There are parks with playgrounds for kids and Piedmont Park: Atlanta's big active central park with the Botanical Garden, dog park, tennis center, swimming pool and miles of walkways. These neighborhoods are within a couple of miles of Downtown Atlanta and Buckhead.

 Here's what you get for $500,000 in Atlanta's Morningside neighborhood (zip 30306).

Bungalow with a front porch built in 1930 with 2013 square feet with 4 bedrooms and 2 full baths

updated master bath

dry basement, parking in the driveway.

Or in Virginia Highland you might get this for $500,000:

Brick Bungalow with 3 bedrooms and one and a half baths built in 1905 on a really great street with 2508 square feet, original crown molding and fireplace, hardwood floors

a dated kitchen

dining room with original? china cabinet and vintage chandelier

master bedroom with en suite bath

updated master bath

nicely landscaped backyard plus a carriage house with a full bath and a garage.

In Snellville, a little closer to Atlanta but still 25 miles away here's what you can have for $395,000:

3 sided brick traditional with 5 bedrooms, 5 baths and 4887 square feet built in 1999

dark oak site finished hardwoods on most of the main level

 newly updated master bath with travertine

patio under the deck accessible from the finished basement.

Or in Virginia Highland you could have this for $400,000:
Fixer upper built in 1930 with 2007 square feet, 3 bedrooms and 2 baths

screened front porch

living room with craftsman fireplace and heavy crown molding

kitchen with vintage stove (not sure what vintage it is, but they don't make them like this anymore) original cabinets--they said it was a fixer-upper.

one of two bathrooms

a master bedroom with hardwoods under the carpet (hopefully)

Or if you're crazy like me you might pick this for $400,000?
I've been in this one and don't think they'll get $400,000.

Built in 1914 the listing says it's a "Renovator's Delight"
It has 2088 square feet and 3 bedrooms and 2 baths

a hole in the wall by the fireplace
original moldings stained very dark (that was the style in 1914)

a blank slate for a kitchen

energy efficient window air conditioning

a large level yard with the driveway at the rear of the property

 So where would you spend $400,000 to $500,000?