Archive for November, 2009
Shhh…..Developed Lots are Beginning to Move in North Fulton
categories: Alpharetta Real Estate, Crabapple, Lots, Milton Real Estate, New Construction, Roswell Real Estate
I don’t hear anyone talking about this but I’ve noticed recently that some residential developed lots in Alpharetta, Roswell and Milton have sold. Builders appear to be cherry-picking some good values out of foreclosure. On the surface it may sound surprising with what seems like a lot of resale inventory still out there. However, that inventory is down to levels not seen since the end of 2005. And, of course, new construction inventory fell of a cliff.
On top of that, the first time home buyer tax credit has been expanded and extended to move-up buyers that have owned their home for at least 5 of the last 8 years. With 47% of home sales this year (nationally) coming from first time buyers; this tax extension / expansion will definitely help bring those inventory levels down even further.
The lots that seem to be moving are mostly in more expensive communities such as Echelon , The Overlook at Litchfield, The Manor Golf and Country Club and newer communities that have not really been built out too much, like Crabapple Oaks . Homes for sale in Crabapple Oaks were originally listed for the high $800’s but are now selling in the low $600’s. In fact, there is a fantastic deal in one of the new Crabapple communities that I’m surprised hasn’t been jumped on yet. However, one surprising sale was a 1 acre lot in Country Club of the South that sold for $750K. Not exactly what I would call a deal, but someone certainly wanted it.
I had recently written a post about this same situation in Forsyth County, where builders were buying developed lots for sale out of foreclosure, building new homes in the first time buyer price range and selling them rather briskly. This is a clear indication that there is a healthy appetite for new construction and again, may be a leading indicator of a stronger recovery in the local housing market. I think we will see more of this to come in the 1st half of 2010.
Posted by Bob Strader | Currently 1 Comment »
Why now is the time to purchase a home in Crabapple
categories: Alpharetta Real Estate, Crabapple, Local Market Conditions, Milton Real Estate, Schools
I know, your saying, "but there are all these empty lots and builders aren’t building". That’s true, but this area has been a sought-after location for home buyers for a long time and it continues to be, even in this market. The community is highly involved in managing area development and keeping the look and feel that currently exists. So, here are….
5 Reasons why NOW is a good time to purchase a home in Crabapple:
1. Prices have dropped about 30% from thier peak
Now, I’m speaking specifically about the new construction, which includes Crabapple Crossroads , Crabapple Crossing and Crabapple Station . The surrounding communities in the resale market have not dropped that much. From the peak of the market, prices for Metro Atlanta have come down about 23% on average. Of course some areas suffered more and some less, Alpharetta home prices are only down around 16%. And, for the other reasons outlined below, we’ll see home values in Crabapple come up over the coming couple of years and I believe they will eventually surpass the peak market values (over time).
2. Crabapple has some of the best schools in North Fulton
The three schools that Crabapple feeds, Crabapple Crossing Elementary, Northwestern Middle and Milton High School, are in demand for good reason. Crabapple Crossing ranks 15th among elementary Schools in the state of Georgia. Northwestern Middle School raised thier SAT scores to 1722 out of a possible 2400 and Milton High School is in the top 500 in the nation , ranked at 311.
3. Crabapple is a solid destination for dining
As I sit here in Element coffee shop , using their free wireless and writing this post, I’m looking at a group of women in a personal training class at Anytime Fitness next door and I’m thinking about how my wife told me she met a friend at the Olde Blind Dog Pub at 7:30 on a Wednesday night they were packed and on a wait. And Sip’s new Tapas and Wine bar has been full since they opened a few weeks ago. Having been there on a couple of occasions, I know first hand how good their food is and why they are staying so busy. So, add in Little Azios, Milton’s , Cans, and you have a great dining destination community.
4. Crabapple is a great Walkable Community
So, the three new communities in Crabapple that surround the shops and restaurants are Crabapple Crossroads, Crabapple Station and Crabapple Crossing. All are within a mile of the antique shops, restaurants and stores. It’s one of the only walkable communities in North Fulton.
5. Crabapple has been proposed as the city center for Milton
Milton is only 3 years old (next month) and while it’s residents take an active roll in the community / government and embrace the small-town rural feel, Milton lacks a city center that will give it real location and city destination. A local developer, J.T. Adams has proposed a Milton Town Center which, if completed, will further enhance Crabapple’s draw and support the recovery of property values.
Do you live in Crabapple? Are you thinking of moving to the area? Let us know what you think about what’s there, what’s needed and if a City Center is a good idea.
Posted by Bob Strader | Currently 5 Comments »
New Bethany High School Plans Introduced
categories: Alpharetta Real Estate, Local Affairs, Local Information, Milton Real Estate, Schools
If you didn’t have a chance to attend the community meeting last week to review the proposed site plans for a new high school in Milton, you will want to review the information below. This is a first draft, not a final proposal, that was shown to the community by the architects, CGLS Architects, and by Fulton County Schools. CGLS is the same firm that designed the new Johns Creek High School and due to the short time-frame that they have to finalize a design for the new high school, they will be working with something along the lines of the Johns Creek High School plans.
The site is located at the corner of Bethany Bend and Cogburn, across from Kings Ridge, on a 64.48 acre site. Approximately 25 of those acres will remain undisturbed due to some wetlands, stream buffers which flow intermittently, and an existing pond that will remain intact. It will take 24 months to build and will be open for the 2012 school year.
There were quite a few residents in attendance and many questions were brought up (no shortage of opinions by any means!), some of which I’ll share with you, but first I’ll give you the short list of what is proposed:
Key Points of Interest
- Enrollment: 1,900
- School size: 327,640 sq. ft
- 600 - 700 parking spaces for cars, 24 for buses
- 600 seat performing arts theater
- 200 seat gymnasium w/ raised 3-lane running track
- 5 tennis courts
- Baseball field w/ batting cages
- Sports stadium which will accommodate 2500 home and 1200 visitor attendees
- Softball field
- A separate practice field
- A band practice area
Student Population and Redistricting
I had to chuckle at the first question from the crowd when a gentleman stood up and asked "where on that plan will the trailers go?". As you probably know, trailers are an issue at some of the schools in North Fulton and certainly not unique to schools all around Atlanta. This is a local sore subject I mentioned in an earlier post regarding redistricting and trailers at Cogburn Woods . The answer was reassuring, and hopefully accurate. When this school opens and pulls students who would have otherwise attended Milton or Alpharetta High Schools, there will be no requirement for trailers at any of these schools for some time to come.
The last question led into the next obvious question regarding redistricting and who will be allowed to remain at the other schools. The answer is rising 10th, 11th and 12th grade students can choose to remain at the High School they are already attending but parents will have to provide transportation to that school. Redistricting meetings will take place in the spring of 2011 and the final lines will be drawn by August 2011. Families impacted by the redistricting will be notified by that winter and the spring of 2012. Fulton County Schools has a Redistricting page on their website for additional information.
Other Questions from the community
Another big question had to do with potential access from Hwy 9 in order to minimize traffic on Bethany and Cogburn. A good question but with all commercial property along that side of the school property it isn’t an option. However, the plan does provide for an entrance off both Bethany and Cogburn for drop-off and pick-up which will ease traffic concerns on those roads.
From there the questions ranged from wanting the school to have a look and feel that will mirror our rural, equestrian community to a concern over the distance from the locker rooms to the softball field. With no vehicle access to the softball field, kids will have to carry their equipment too far. Hmmm… maybe the school should be a barn and the kids can ride horses to the stadium.Ok, I’m just kidding….
Some of the other questions or comments had to to with: The cafeteria being too small to feed that many children, why isn’t there a swimming pool, why isn’t it a 3-story building instead of a 2-story building, will the school be built by Americans or illegal aliens, how long will it take to acquire books for the library, will the sports programs and band programs be in place at the beginning or be built from scratch. I have to give Katie Reeves, our district representative from Fulton County Schools, credit for breathing common sense back into the conversation when the discussion would go a little astray. As she pointed out, the principle is hired one year out from opening. Teachers, staff, sports and band programs and operations will all be worked out in advance in order to have a fully prepared and operating school from day one.
What about Money?
With declining tax revenues a question was raised about building costs. Katie Reeves pointed out that while SPLOST revenues were down over $6 Million, building and material costs were down significantly and would "save the day" allowing for the school to be built within budget. We were assured that teacher and staff salaries were in the budget when a question was raised about hiring quality teaches in light of the recent teaching layoffs and staff cuts. Oddly this was the only question of the night regarding education…
It’s great that we have such overwhelming community involvement from local parents and certainly you can’t please everyone but I’m sure the school will be something we will all be proud to have our children attend. You can see the full presentation from that evening on the Fulton County Schools site. If you missed the meeting and have some ideas about what was discussed we would like to hear from you. Tell us what your thoughts or concerns are. Or better yet, what do you think we should name this school?
Posted by Bob Strader | Currently No Comments »
