Comments on: To condo or not to condo? That is the question.

By: Sterling Skinner

Sterling Skinner — Fri, 12 Sep 2008 18:44:00 +0000

I am a homeowner just NorthWest of Atlantic Station and work at Georgia Tech. My 1961 brick ranch keeps me very very busy in maintenance. Mowing the yard, fixing the lawn mower, putting a little patch on the roof, pulling the leaves out of the drainage paths, and on and on. I am a very hands-on person, but it takes lots of time to keep the house from deteriorating. I must block out several saturdays over the next three months to just rake leaves. Paying someone to do those tasks can really add to the cost of home ownership. I also had my house broken into recently and they stold about $7000 in laptops, guns, and a swiss watch. I think condos have better odds of not being plundered. Sometimes I envy the condo-owner that spends time at their pool. But then again, there is a surprising sense of personal peace that I have in owning a 1/3 acre lot. That is something I was not expecting when moving into my house for the first time.

By: Stephen Saucier

Stephen Saucier — Wed, 16 Jul 2008 05:35:25 +0000

Where environmental concern dovetails with economic efficiency, I’m all over it. In this case, the environmental benefits could just as well be a secondary factor, as the novelty of the idea and the inherently less expensive nature of mass-manufactured-device reuse combine to create what I see as a tantalizing opportunity.

Who knows, maybe it will give people a wider perspective on goods that are simply lying around after having served their primary initial purpose and give them the inspiration to reuse more and better than ever before.

As for metropolitan saturation, I don’t think most people would mind it as long as we keep good southern manners. What I took away from NYC was that no one seemed interested in anyone else unless there was money on the table. I wouldn’t want that to happen to the heart of the South, would you?

I am impressed with Atlanta’s apparent ranking in metropolitan affordability, however. I guess I have little exposure to the price levels of large cities as contrasted with smaller towns. What’s immensely expensive for me may just be an incredible bargain for a long-time city-dweller.

Just so long as we don’t enact rent control laws, Atlanta ought to stay fairly high on the affordability list.

By: annakintown

annakintown — Tue, 15 Jul 2008 21:27:49 +0000

Stephen, you are funny. I will say I like your reasoning for the ‘reusable’ aspect of the shipping container – recycle, reuse!!

In contrast to your statement regarding Atlanta affordability, check out the 2008 Demographia International Housing Affordability Survey (www.demographia.com/dhi.pdf), that states that Atlanta is ranked 39th in affordability in the world’s metropolitan cities, close on the tails of Augusta, GA (23rd). I found it interesting, that I didn’t know myself, that the top 50 metropolitan cities in the world for affordability are exclusively in Canada & United States….neat huh?

I say get in while the gettin’s good. We may be more saturated than New York if we keep growing like this!

By: annakintown

annakintown — Tue, 15 Jul 2008 20:48:20 +0000

You know, I wonder the same thing sometimes when I go there to work our or see a movie. It’s such a great city within a city. I think out of the gates, Atlantic Station had SOOOO much hype and pretentiousness – e.g., we want our own zip code, that it created a fuss for people getting in.

As I mentioned in a previous post, the newest and greatest thing draws the most attention in this condo market. I think with the slowing of the market, phase two needed to have a reality check with pricing and occupancy. They are not the only new development begging buyers to buy right now.

I DO think that the Atlantic Station vacancies will vanish, but it’s tough to tell how long. I feel a bit for phase 1 buyers, as I have a personal friend that bought pre-sales, and his latest appraisal has him at about $150K below what he bought it for….that hurts.

I also think that with some of the structural/drainage repairs needed, it scared off many potentially interested buyers coupled with over-saturated inventory in the Atlanta condo market and the mortgage crisis our nation is feeling right now. 2-3 years ago, getting a loan with no income or no assets was normal – well, we’re feeling the repercussions of that now with all the foreclosed units.

I wish Atlantic Station all the success in the world as I think it has done great things for Atlanta.

Will your husband be involved with the Ford Plant re-development?

By: Stephen Saucier

Stephen Saucier — Tue, 15 Jul 2008 18:27:23 +0000

Really, what you should be looking at is shipping-container housing. Cheap as dirt, daggum near impossible to destroy, stylishly modifiable, and good for getting rid of what would likely otherwise be waste.
That, or fly a hot-air balloon around the world until you build up enough interest in the bank to afford one of Atlanta’s super-priced pieces of property w/ a McMansion resting atop it.

By: ssva

ssva — Fri, 04 Jul 2008 15:46:30 +0000

I have a question for you. My husband is the head field engineer of Atlantic Station II. He was also the head engineer of Atlantic Station I when it was being built. During the build of Atlantic Station I, the condo units were all sold before the building was half way finished. Now, in the build of Atlantic Station II they are over half way finished and less than a quarter of the units have sold and over half the units in Atlantic Station I have been foreclosed on. So my question is, “Do you think the condo units of Atlantic Station I will fill up again and will Atlantic Station II units all sell in the current market?”

By: Patrick

Patrick — Fri, 23 May 2008 15:30:33 +0000

This is some really great insight. You sound like you really know the area and the market.