Housing market updates from Atlanta

[Limbojumbo]

These Prices on Matt hwy aren't sustainable, the land was pretty cheap until 2021, the demand built up and logistical problems with construction coupled with near 0 Fed funds rate fueled the prices.

However this isn't justifiable anymore, Everything on matt hwy will eventually correct with construction costs back to 80-110 and land prices getting back to 2021 $/sqft should be back to 140-170$ (450-550k depends on interest rates)

Been here in cumming since 2014.

 

[Sonu_Patel]

36 minutes ago, Limbojumbo said:

These Prices on Matt hwy aren't sustainable, the land was pretty cheap until 2021, the demand built up and logistical problems with construction coupled with near 0 Fed funds rate fueled the prices.

However this isn't justifiable anymore, Everything on matt hwy will eventually correct with construction costs back to 80-110 and land prices getting back to 2021 $/sqft should be back to 140-170$ (450-550k depends on interest rates)

Been here in cumming since 2014.

 

my dosth bough there in 2021 for $650k anna.. he is unable to sell the home and loan still 600k undi annadu..

so he has to pay 150k from his pocket if he wait to sell ? 

[Limbojumbo]

10 hours ago, Sonu_Patel said:

my dosth bough there in 2021 for $650k anna.. he is unable to sell the home and loan still 600k undi annadu..

so he has to pay 150k from his pocket if he wait to sell ? 

If it was 2021 he must have gotten it on a cheap mortgage(30 yr fixed) best bet is those 2-3% loans at times can be transferrable to new owner however depends on the mortgage servicing company. (Other conditions like credit tier etc+ apply) Technically payment for 650 in 2021 equals to payment for 525 at 6.5% mortgage. In this context he would be loosing equity.

now considering market conditions in forsyth new construction permits are being closely monitored unlike Austin,Tampa things wouldn’t correct drastically but they might adjust based on macroeconomic conditions.

 

 

[usetime63]

Concord NC vs Cumming GA, which one do you guys prefer

[duotelli]

If not cumming which is the preferred location for house purchase in Atlanta 

1) Lawrenceville 

2) Acworth 

3) Dallas (GA)

[Sonu_Patel]

On 6/30/2024 at 8:19 AM, duotelli said:

If not cumming which is the preferred location for house purchase in Atlanta 

1) Lawrenceville 

2) Acworth 

3) Dallas (GA)

 

Dawsonville

[Sonu_Patel]

On 6/30/2024 at 8:19 AM, duotelli said:

If not cumming which is the preferred location for house purchase in Atlanta 

1) Lawrenceville 

2) Acworth 

3) Dallas (GA)

all three are growing rapidly. 

[Sonu_Patel]

On 6/17/2024 at 12:24 PM, Sonu_Patel said:

Only Desis buying houses in New neighborhoods.. It is evident that all south facing homes remain unsold in most of the new neighborhoods.

Volume of Migrations from one state has slowed down. 

Used homes ki demand taggindi and greedy sellers will be disappointed. 

Na dosth community lo realistic and greedy sellers unnaru.. same kind of home but kitty party gang lo okadu wants to sell for $100k more.... 

Realistic seller: 

https://www.zillow.com/homedetails/7885-Bristol-Valley-Dr-Cumming-GA-30028/306483601_zpid/ - listed for $575K

price reduced to 550k on 06/17

https://www.zillow.com/homes/7955-Bristol-Valley-Dr-Cumming,-GA-30028_rb/306483070_zpid/ - listed for $585K

price reduced to 565k on 06/19

Greedy seller:

https://www.zillow.com/homedetails/7925-Tiberon-Pkwy-Cumming-GA-30028/338758308_zpid/ - listed for $679K

https://www.zillow.com/homedetails/8015-Brewton-Creek-Dr-Cumming-GA-30028/306483659_zpid/ - listed for $650K

https://www.zillow.com/homedetails/7940-Brewton-Creek-Dr-Cumming-GA-30028/306483651_zpid/ - listed for $685K

 

@Aquaman - still no offers anta.. 

open house pettina problem avtundi anta.. because ah neighborhood lo unna kitty party gang ae vachi chustunnaru anta time pass ki... 

realtors mothukuntunnaru akkada.

[papampasivadu]

On 6/27/2024 at 1:13 PM, Sonu_Patel said:

my dosth bough there in 2021 for $650k anna.. he is unable to sell the home and loan still 600k undi annadu..

so he has to pay 150k from his pocket if he wait to sell ? 

vammo..nee dosthlu andharu hilite situations lo untaaru ga

[baabaa]

8 minutes ago, Sonu_Patel said:

@Aquaman - still no offers anta.. 

open house pettina problem avtundi anta.. because ah neighborhood lo unna kitty party gang ae vachi chestunnaru anta time pass ki... 

realtors mothukuntunnaru akkada.

Idi everywhere true bhayya. Open house TX [especially telugu areas] lo pedute whole telugu aunties/uncles will be coming and discussing  in house about furniture/paints/closets.

[Sonu_Patel]

10 minutes ago, papampasivadu said:

vammo..nee dosthlu andharu hilite situations lo untaaru ga

biddings vesi konnadu anna.. house is empty now..

looking for good realtor who can find good bakra.. 

[Hitman]

South Florida - Good houses with New roof - Bidding wars started...  #StillLookingfor2ndHouse

[papampasivadu]

/////

[Sonu_Patel]

9 minutes ago, papampasivadu said:

mee vaade aa good bakra....bakra ke bakra kaavali ante kashtame mari

ekkadunnav @csrcsr anna.. ochi ma home owners ni kaapadu..

[csrcsr]

1 minute ago, Sonu_Patel said:

ekkadunnav @csrcsr anna.. ochi ma home owners ni kaapadu..

Vowner epud ayav anno