(02-07-2019 05:08 PM)TrueBlueDrew Wrote:  

(02-07-2019 04:36 PM)panama Wrote:  

(02-07-2019 02:20 PM)TrueBlueDrew Wrote:  

(02-07-2019 02:07 PM)panama Wrote:  

(02-07-2019 01:47 PM)TrueBlueDrew Wrote:  Can you blame him? I hear those houses in slummerhill go for millions!

It's amazing that living in Georgia and/or Atlanta some people have zero idea as to what is going Real Estate wise.

To summarize, there are about 10k technology jobs going into Midtown. That has driven the Midtown condo market into the stratosphere. What do I mean by stratosphere? A one bedroom one bath , 1000 sq foot condo at 878 Peachtree Street for $300k. A 3br/3ba 2800 sq foot condo at 905 Juniper for $1.7M. The Midtown housing and job market is having a domino effect on surrounding neighborhoods. It's being driven by younger people who want to live inside a city, close to work and don't want to spend 2 hours in traffic. So Summerhill is benefiting from proximity to Downtown and Midtown and the fact that retail development is coming towards it. There is building or built out development on Memorial Drive from the Capitol to Decatur. Literally every block. Some people who move here and see what a condo goes for in Midtown are seeing that a 3 br 2.5 ba in Summerhill for $500k is a relative steal.

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My joke was more in reference to the $1.1 Million dollar property near your stadium that y'all attempted to rally around earlier in the thread before I explained the ins and outs of gentrification to you all.

We didn't post it

The property is $1M

And it's already been explained that it's a combined 0.5 acre lot which automatically makes it about 4 times larger than what is considered a large lot for the area.

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That's simply untrue. The lot directly to the left of it is over 1 acre large and only valued at 580k.
https://qpublic.schneidercorp.com/Applic...5400040358

The lot in question that is for sale on Zillow at 1.1M is valued at just 130k.
https://qpublic.schneidercorp.com/Applic...5400040341

The real estate company that owns both these lots is artificially inflating the property values of these sites in order to grab the surrounding properties of the locals who can't afford their new taxes. Then they are going to combine the lots and sell it to a developer. The same exact thing is happening in Savannah right now.

Oookay....but there are houses selling for $500k to $750k in the same neighborhood where there is literally no front or back yard.

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