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Sales They Are A Changin' in Buckhead

Posted by Terry Burger on Wednesday, September 16th, 2009 at 9:44pm.

This weekend I showed a wonderful couple from Jacksonville, Florida townhomes and condos in the most exclusive areas in Buckhead. We found out some profound news that the rest of the world has yet to discover...HOMES ARE SELLING! Several new construction projects have deeply discounted pricing and savvy buyers seem to be out in gobbling up the bargains.

Take the Brownstones at Habersham for example. 14 townhome SOLD IN JUST 30 DAYS averaging over $500,000. We were shocked to find a 4 level, 3,000 square foot townhome complete with a roof patio & stunning views of Buckhead's business district gone. The home was originally listed in the $800's. 

That's not all, one 2000 square foot condo in the exclusive Phoenix building is in the low $400's. From this location you can walk to Starbucks, Publix, Barnes and Noble, and Walgreen's simply by crossing the street.  The condo association president thought that given some minor TLC, the unit could be worth $650,000 in no time.

It looks like we've reached a bottom in Buckhead real estate and thoses who don't act quickly are going to miss out. The deals are almost gone, now is the time to buy. The Atlanta 40% off real estate sale won't last long. The statistics bear this out as well.

572 Atlanta condos/townhomes sold in the first 6 months of the year, while only 66 sold in the previous 6 months according to the First Multiple Listing Service. Good pricing, low interest rates, and first time home buyer tax credits of $9,800 have fueled the comeback. 

 

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