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.
Word is that Williamscraft is going bankrupt and that Crabapple Crossroads will be taken over by another entity? Supposedly he tried to pull a fast one on the banks and they caught him trying to buy new property while being in default on many of his other propereties. Any substantiation of that rumor? It appears several of their homes will be sold at auction later in the month, including one home that allegedly sold months ago.
I can’t substantiate anything about them trying to buy other property but it’s been a “managed” foreclosure situation with thier homes for quite a few months. They would get bank approval on lower sales prices and the bank would cover finishing out any of the homes that sold below market value. There are builders in Forsyth that have purchased developed lots out of foreclosure and have been selling new construction - I think that is what we’ll see here.
I just bought a home in Crabapple Crossroads, in fact I move in next Saturday. The price I paid for the home was a great deal and the bank even agreed to do the punch out list, which I didn’t expect. I also didn’t expect the taxes, the bank hasn’t appealed the taxes and I am going to have to appeal this come January, but even assuming I get them lowered I am going to have to pay over $2,000 more than I anticipated for this year. I am still thrilled with what I have, but if you are looking in this area, be prepared for the taxes for the first year until you can get them adjusted. As for the area itself, I have dined at a few places (walking from my house) and it is great. I hope they add an ice cream shop.
Yes, Williamscraft is bankrupt - Traton has taken over their foreclosed properties at Wakefield Estates and have dramatically slashed the prices. Very sad for the residents who orginally bought there.
More info about Williamscraft.
http://losangeles.bizjournals.com/losangeles/othercities/atlanta/stories/2009/01/26/story4.html?b=1232946000%5E1766429