Atlanta has SO many great neighborhoods! But here’s a quick take on what are some of our hottest (of the moment) neighborhoods and those that are HOT VALUE neighborhoods NOW, this Fall, 2015, in Atlanta. Note the distinction. When a neighborhood is “HOT” – i.e., very popular at the moment, oftentimes prices will rise rapidly as buyers bid against each other in their rush to move in. A HOT VALUE neighborhood is one that is not yet “RED HOT” but which WILL be hot in the coming years, and so there are still bargains to be had. Now, if you’re bidding in a HOT neighborhood and prices are rising, there is no need to fear overpaying as long as it’s a neighborhood that is likely to hold or increase in value in the coming years. Usually a neighborhood is HOT either because of location, schools, or both; the location isn’t going to change and if the schools are good, residents always fight to KEEP them that way.
Don’t be concerned that I am leaving out your favorite HOT neighborhood – know that I’m not addressing CLASSICALLY HOT neighborhoods… I’m not addressing them in this particular blog post because they are always hot. This would include Decatur zip 30030, Midtown, Va/Hi, Morningside, and many northern suburbs such as Alpharetta, Roswell, Johns Creek, and East Cobb in its great school districts.
And also know that there’s no way to address all the “hot” areas in one blog post – I’ll just touch on a few to whet your appetite, and I’ll cover different areas of town.
Let’s start in Ashford Park, just east of Peachtree Road – Ashford Park is HOT. The elementary school is awesome and there’s lots of new construction. While several years ago one could get a pretty decent home for $300,000 here, I just sold a teardown LOT for $500,000 with multiple offers in one day.
HOT VALUE near there is CHAMBLEE. While Montgomery Elementary is not yet par with Ashford Park, it’s getting there, and the City of Chamblee is making great strides in developing retail areas. THE ASSEMBLY huge mixed use development is going in where the old GM Plant used to be and that’s exciting. Because it’s up and coming, there are still values to be had.
NOW, let’s go to the Beltline, which is of course driving values everywhere it touches. We’ll start with Old Fourth Ward, O4W in local parlance, and its neighbors, Inman Park and Poncey Highland. HOT because of the Beltline (and that’s a continuing theme – the Beltline has made many Atlanta neighborhoods “HOT” so it is important to know where the Beltline IS, where it will be, and where it’s going…. ). Quick aside = the Beltline is a 22 mile bike/walk/run path being built in a huge Atlanta circle. Only parts of it are complete, other parts are underway, and some sections may be years in the making. But the O4W portion is complete and with it O4W Park, Ponce City Market, Krog Street Market – the list of “cool” things that have come with it are legion.
HOT VALUE is south of there, in Reynoldstown, Edgewood, and East Atlanta. There’s also Ormewood Park, nestled between Grant Park and E Atlanta on the Southside (Grant Park has been and continues to be a “hot” area). The beltline goes right through this great neighborhood of old bungalows and great diversity. There is section 8 housing a block from $700,000 homes. There are still a lot of values to be had – I just sold a $250,000 adorable house one block from the Beltline. The Beltline here is not yet finished, so prices haven’t risen SO high SO fast.
For more hot values, seek out Capitol View Manor, Mechanicsville, and Adair Park – neighborhoods to the west of the afore-mentioned neighborhoods. These are nestled in west of I-75/85 and south of I-20, and the Beltline goes right beside and through them.
Let’s leave the Beltline for a minute and head down towards to the Airport to stop at The Manchester Arms in College Park for a meal. Marvel at what College Park is becoming. Because Woodward Academy is down there, some northern suburb dwellers have built weekday homes for one spouse and the kids to live in before they go back to the northern burbs for the weekend. PORSCHE moving into the airport has meant even more wealth moving into the area. College Park is hot; East Point just to the north of it is still a hot value neighborhood.
Back on the Beltline and moving North; HOT is BRANDON SCHOOL DISTRICT = you’ll pay a premium for great public schools in Atlanta, and Brandon is a good indicator of that. One of my favorite neighborhoods is CHANNING VALLEY, where prices have risen 22% over PRE recession prices; it’s a small friendly diverse neighborhood in a great convenient spot.
HOT VALUE is West Midtown = Howell Station is an example. It’s near BELLWOOD QUARRY, which saw thousands of zombies in the season premiere of Walking Dead. Now that the zombies are gone, that park will be the crown jewel of the Beltline. Because that area is still very industrial and the Atlanta Jail is nearby, prices are still low, but demand is rising.
And finally, up North to just outside the Perimeter. Smyrna west of 285, just outside Vinings, the area nicknamed “Smynings” is hot but there are also still a lot of value priced properties. With the new Braves Stadium going in, it’s becoming even more desirable as a place that will be close to the action and the new development; and yet far enough west that residents can still get places without running too much into Braves traffic.
Again, these are just a FEW of the “hot” areas that I am seeing. Please email me YOUR favorites so that I can feature them in a future blogpost!
Mary Anne Walser is a licensed attorney and full-time REALTOR, serving buyers and sellers in all areas of Metro Atlanta. Her knowledge of residential real estate and her legal expertise allow her to offer great value to her clients. Mary Anne serves on the Committee that drafts and reviews the contracts utilized by all REALTORS in the State of Georgia. In addition, she is a member of the Atlanta Board of Realtors, the Georgia Association of Realtors, the State Bar of Georgia and the Georgia Association of Women Lawyers. Contact Mary Anne at 404-277-3527, or via email: email@example.com.