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Finding value in Intown Atlanta lofts


My 6 showings of lofts in Castleberry Hill yesterday made me think of some of the considerations that buyers must make when choosing a loft as a “primary residential” lifestyle choice – this is a hyperlink to a question on Trulia Voices that I answered about this subject, and here is some of the dialogue:

“I’ve been to Castleberry Hill for a couple of the Art Strolls and nights out…seems like a pretty hip area. I travel for work (70% of the time), but don’t want to be down by the airport. Looking to stay out of the suburbs. Any other viable options – Decent nightlife, nice restaurants in the area, easy access to interstates, in the city without the suburban feel. East Lake is nice, but has a suburban feel.”

I answered:

I like Castleberry Hill as long as you choose a good community, watch out for insolvency and understand that resale factors in the general neighborhood of Castleberry Hill, are a building by building consideration. Plenty of buildings down there outsell the others – there are reasons why with every one.

I like amenity rich condo, loft and townhome communities, and if your version of suburban is East Lake, then you are my kind of Atlantan!

In Castleberry, amenities like rooftop access are important – secure parking is actually an amenity in Castleberry Hill – from there, it’s how much bang is there for the building’s buck? Many of these community associations / condo associations lack the bang, and you see it in the rundown appearance of their common areas…

So, Castleberry Hill is just about the only "community of lofts" in the city with any great concentration of loft building after loft building – the rest are kinda spread out, but I make these comparisons often so here’s my comment on "any other viable options:"

1. Cabbagetown, Reynoldstown, Summerhill, Ormewood Park, EAV, and the greater Grant Park area – each have their own distinct features, and all have something that you can afford, and feel "urban enough" about, I think – if you can get into an amenity rich, stable community like The Stacks for $175,000 – $200,000 or so – have access to the coolest pool in the city and be in the nightlife and restaurant mix nearby, then look no further for an immediate comparison to Castleberry Hill – from Cabbagetown, explore some of the options in the nearby neighborhoods, unless these are all too "suburban" for you

2. Decatur – my kind of suburban – right now for less than $200K, you can buy near downtown, live in a community with a pool for less than $250 a month HOA fees, and enjoy the culture of a cool little Intown city, just minutes from everything

3. West Midtown – go exploring…I saw a $150,000 short sale at M West last year that was a great value buy – a 3/2/1 townhouse with a garage and a neighborhood pool – cool looking, very hip community and I was floored by the value…check out Knight Park…check out White Provision if you can afford it, or just start cruising Vine City and find an apartment building that you could pick up for $75,000, fix it up, and show Atlanta your version of living "in the city without the suburban feel…"

If you or someone that you know is seeking expert buyer representation for an Intown Atlanta loft, condo or townhouse purchase, then please call me.

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