Author Topic: Pink Compound Property Newton and Flat Shoals  (Read 5088 times)

Offline Go Sox!

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #60 on: March 07, 2017, 03:41 pm »
rather than quote all that...
part of the problem as I see it, is developers buying up houses that are perfectly serviceable for younger people and starter families, then knocking them down and putting up 500k+ giant ugly box houses. #
In the cases I am directly seeing, people aren't even buying them, they are being built to rent. (the guy who's doing the 4 houses directly surrounding me, plus that one at the split, and at least 2 on Settle Cir.) I suppose that's what you mean by "market", but I don't think that's a natural evolution. 4 college friends renting a giant 4/4.5 house are going to be less invested in the neighborhood than a starter family with a baby who would have bought the 2/2 that stood there before.

But to your direct question, my friends are either buying the last few affordable houses in West End (where a 3/2 fixer is "only" 300k) or they are going OTP. Most recent set of friends bought in Lithonia.

#(don't even get me started on how the builder of the "renovation" next to me BURNT perfectly good framing 2x6s and 2x10s in the backyard, as well as decent oak flooring and wooden panel doors)

It's an interesting thing if building or buying a big, new single-family house explicitly to operate as a rental is a profitable option. I could see how that would be the case with excess inventory when the market turns south, but I wouldn't have thought it to be the case in the boom we're seeing. On the other hand, $450K for a house in a subdivision next to the Interstate outside the city limits and close to nothing ... use as a rental makes more sense than anything I can think of to justify that price.

We're holding on to my house and renting it out even though I could have sold this month (same with my husband's house in Grant Park). Even if I'm not making a huge monthly amount on my rent, I'm gaining the value of paying down the mortgage (on a good interest rate) and gaining market value as well. I see it is putting into savings, so when I do decide to sell in whatever amount of time seems likely, I'm walking with a chunk of equity that can then pay off the Cabin with the goal to be debt free in X years. Also, as long as I'm covering the mortgage and any upgrades with rent, I have nothing to lose. 
Hope your footing always stays in the road and you don't fall in the road!   -- Denise

Offline JBB

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #61 on: March 08, 2017, 01:50 pm »
We're holding on to my house and renting it out even though I could have sold this month (same with my husband's house in Grant Park). Even if I'm not making a huge monthly amount on my rent, I'm gaining the value of paying down the mortgage (on a good interest rate) and gaining market value as well. I see it is putting into savings, so when I do decide to sell in whatever amount of time seems likely, I'm walking with a chunk of equity that can then pay off the Cabin with the goal to be debt free in X years. Also, as long as I'm covering the mortgage and any upgrades with rent, I have nothing to lose.
Maybe the president will eliminate the capital gains tax!
"I'll try the foot long hot dogs." -Denise

Online georgian

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #62 on: April 25, 2017, 02:12 pm »
Noticed this morning that the first of the three new houses is Under Contract.
It is the one positioned on the corner of Newton and Flat Shoals.

Offline jcarp

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #63 on: April 26, 2017, 07:26 am »
We're holding on to my house and renting it out even though I could have sold this month (same with my husband's house in Grant Park). Even if I'm not making a huge monthly amount on my rent, I'm gaining the value of paying down the mortgage (on a good interest rate) and gaining market value as well. I see it is putting into savings, so when I do decide to sell in whatever amount of time seems likely, I'm walking with a chunk of equity that can then pay off the Cabin with the goal to be debt free in X years. Also, as long as I'm covering the mortgage and any upgrades with rent, I have nothing to lose.
Maybe the president will eliminate the capital gains tax!

As long as you have lived in the house for 2 years (730 days) out of the last 5 years at the time of sale, then $250k (single) or $500k (joint filing) capital gain from the sale can be exempted. So @Go_Sox!, you might want to look into this and sell the house before you've been gone for 3 years.

https://www.irs.gov/publications/p523/ar02.html#en_US_2016_publink10008937

Offline jcarp

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #64 on: April 26, 2017, 07:28 am »
Noticed this morning that the first of the three new houses is Under Contract.
It is the one positioned on the corner of Newton and Flat Shoals.

Is that at $570k?

Online georgian

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #65 on: April 26, 2017, 07:44 am »
Noticed this morning that the first of the three new houses is Under Contract.
It is the one positioned on the corner of Newton and Flat Shoals.

Is that at $570k?
Don't know, but heard they were marketing these in the $600's

Offline Mr. Man

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #66 on: April 26, 2017, 03:39 pm »
I went through 2 of them.  there is some weird deisgn going on.  For as huge as they are, the space is broken up oddly in parts.
Yes, I agree, with that I knew someone close that smoked and went to chewing tobacca. Used a spit can which was yuck, and then the door of his car.~Denise

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #67 on: May 12, 2017, 07:37 am »
The concrete trucks just started pouring the walkways and driveways for these three houses about 10 min ago. Yes, even the driveway that opens into Flat Shoals.

Offline hfranks

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #68 on: May 21, 2017, 08:13 pm »
Not surprised this happened, first rain after laying the new sod -
Explosive force does not vector that way, and never will be able to, even with crazy secret-squirrel .gov black ops alien technology. ~ ES

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #69 on: May 22, 2017, 07:28 am »
I met the buyers of the house that is under contract after the EABF Saturday and they are excited about moving to EAV and are anxious to get involved with the community. We will "take them under our wings" when they move in and make sure they have a smooth transition from Midtown. They don't currently have kids, but they are young and I pushed Burgess-Peterson as the best of the best...so, who knows?

Online georgian

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #70 on: June 28, 2017, 11:26 am »
We have new neighbors! The couple that purchased the new house on the corner of Newton and FS moved in last Saturday.
I have already started campaigning for them to get involved with all the activities that our great EAV community has to offer!

Offline Mr. Man

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #71 on: June 28, 2017, 02:15 pm »
I wish i could go tour the house and see how it was set up.  i toured all 3 as they were being built and there were some weird design elements to each one so i would love to see how they were handled. 
Yes, I agree, with that I knew someone close that smoked and went to chewing tobacca. Used a spit can which was yuck, and then the door of his car.~Denise

Offline denise

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #72 on: July 08, 2017, 06:57 pm »
 Yes, I agree they don't look right.

Online georgian

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #73 on: October 22, 2017, 02:31 pm »
The remaining 2 houses are now under contract. The buyers of the middle one are two doctors and the contract price is rumored to be
$675,000.00. The other one , I heard, is under contract for $650,000.00

Offline hfranks

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Re: Pink Compound Property Newton and Flat Shoals
« Reply #74 on: October 25, 2017, 07:06 pm »
The remaining 2 houses are now under contract. The buyers of the middle one are two doctors and the contract price is rumored to be
$675,000.00. The other one , I heard, is under contract for $650,000.00

Do they get two HVAC zones for that much dough? The one on the corner just has a single unit...
Explosive force does not vector that way, and never will be able to, even with crazy secret-squirrel .gov black ops alien technology. ~ ES