22Jan
Foreclosures in Crabapple
categories: Alpharetta Real Estate, Crabapple, Foreclosures
A reader of my last post on bank-owned property in Alpharetta and Milton asked specifically if there were any foreclosures in Crabapple. A few properties come to mind.
Foreclosures in Crabapple
Crabapple Chase, 5 Bedroom / 2 Bath listed at $319,000.
Wallace Woods, 4 Bedroom / 2 Bath listed at $294,000.
Michaela Woods, 3 Bedroom / 3 Bath listed at $147,500.
There are two others, that while not technically in Crabapple, are pretty close, just a little further north.
Gates Mill, 5 Bedroom / 4 Bath listed at $539,000.
Enniskerry, has been withdrawn from the market but I suspect it will be put back on after some repairs: 4 Bedroom / 4 Bath was listed at $379,900.
For more information on any of these properties, please feel free to contact me. And, yes, Anne, Fieldstone Farms is the neighborhood across from White Columns. I thought it was a great buy, too. That house has a TON of space for the price and was four sides brick.
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I think it’s interesting that the Crabapple foreclosures are occuring at all price points, not just high or low. Is the 459k home in Saint Michelle a foreclosure? I wonder how builders like Capital Group and Williamscraft can hold onto those crabapple homes for so long-CG has been holding onto most of their inventory for well over a year.
And thanks for the info. You can usually tell by the wording of the listing-as is- but it’s nice to have confirmation.
As an example, Crabapple Crossroads, the subdivision built by Williamscraft and designed by Lew Oliver, has 32 homes listed for sale in MLS. Eight homes have shown up as sold, five of them in March, April and May; one in October and two at the end of December. The homes sold in December were sold at a deep discount.
For example, a 4 Bedroom 3 Bath house on a slab (no basement) which was originally listed at $509,900 and reduced to $489,900, sold for $417.
The other December sale was a 3 Bedroom 2 Bath “dollhouse” style home on a slab that was listed for $439,900 and sold for $399,900.
Braeburn, the adjoining new development by John Weiland homes has yet to break ground on a single home.
Your other question about Saint Michelle: No, the house listed at $459,000 is not a foreclosure according to the MLS. The notes do say that the seller is motivated, though. They are giving away a 42″ Plasma Flat Screen TV with the sale of the property. Is that enought to make someone buy it? I always wonder what people think about these sorts of incentives. My opinion is that they are useless, but that is just me. A $500 or $1000 TV is not going to make me buy a house or not.
First off, I very much enjoy reading your blog. It is refreshing and without ego. Maybe I like it so much becuase I agree with so much you say. Like incentives-USELESS. It’s not just you.
Secondly, my husband and I are entertaining the thought of purchasing a lot/home in a new costruction neighborhood. The lot is right next to the future neighborhood pool. I say it’s not that big of a deal, but my husband says not a good idea-for while we live in it or for resale. Can you help the debate?
Also, do you think these “deep discounts” with suffering builders are a good investment, or is a resale a better buy?
There seems to be a plethora of “motivated sellers” right now, including builders sitting on empty lots. I’d love to see a blog on the pros and cons of buying now (resale vs. new construction, etc.) in a slow environment and decreasing rates.
Kevin,
Good update. Though I’m not from there it is educational to hear what’s happening in different real estate market areas.
Dana, I’ll give some more thought to you question about resale vs. new construction in this market and which is a better opportunity now…this is something I’ve been thinking a lot about recently and about which others have also asked me. Then I’ll post my comments in a new post.
Regarding the incentives, this is one I saw yesterday: $3000 broker bonus for full price offer.
First of all, you’re only going to pay full price if there are multiple offers and the house is priced right to begin with. But more to the point: why would I ever counsel a client to pay full price for a house just so that I could make a $3000 bonus. That is a conflict of interest to me. I would never do that and if you ever found out that your agent did that, you should be really upset.
The only scenario that that might be acceptable would be if the agent credited that $3000 back to the buyer for closing costs on the settlement statement.
These sorts of incentives drive me crazy…I just don’t think they work and if sellers think they do, I urge them to reconsider by putting themselves in the shoes of the buyers and buyers’ agents.