Brookhaven: Lost it’s Luster or Primed for Pickup?

We are blessed to intimately know many diverse areas of Atlanta, including inside the perimeter from Downtown north and the outer arc of DeKalb, North Fulton, and Gwinnett Counties. There is perhaps no market we know better than the Buckhead/Brookhaven market. Lesley and I have been fortunate to help buyers and sellers here for years. We have fortunately seen the rise, and unfortunately we have seen the fall. Isn’t that the case everywhere, and won’t it always be the case? The answer is certainly yes, and while the popularity of intown Atlanta’s Brookhaven sustained and sheltered property values for an extended amount of time, it has, like all the other areas, given way to the market. Having shown property in Brookhaven quite a bit recently, there are areas which were historically high flyers that are now prime for the picking for the first time homebuyer again. Ashford Park, the babydoll on the eastside of Brookhaven, has some unbelievable deals right now. As of today, there are 100 active listings in Ashford Park, and I don’t think I’m going out on a limb here by saying that you can get what you want for the price you want. New construction infill became “the way” of the neighborhood several years ago, and now that the market has softened there are some amazing new homes available at a mere fraction of their original list prices. Drew Valley, which is the across the street neighbor to Ashford Park, has even better values. For years Brookhaven home values grew in double digits to the point that prices really grew out of the first time homebuyer’s wheelhouse price range. With values being down 10% or more over last year, the first time homebuyer is coming back to the area! Personally, I think that’s a great thing. The first time homebuyer brings a lot of energy into the community. They renovate houses. They spend money. They make the area better. What goes up must come down, and that has been the case with the real estate market time and time again, but buying real estate in desirable areas like Brookhaven never goes out of style.

First time homebuyers, you already know this, but I would be remiss if I didn’t mention it time and time again. The goverment is giving away $8,000 in tax credit through December 1st of this year. There are special stipulations so contact us for details. In addition, these are the lowest interst rates on record in over 30 years, and a glut of inventory gives you the pick of the litter. Smart buying decisions right now will translate into money in your pocket in the future. For more information on the Buckhead/Brookhaven area or if we can help you in any of the other areas of Atlanta, please contact us via email at andy@thepeterscompany.com or via the “contact us” page on our website. We would love to help you maximize your opportunity in this market.

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