Atlantic Station Condo Market Update

Atlantic Station is a fantastic and unique place to live, but it has not been immune to the harsh conditions of the Atlanta condo Market over the last year.

 

Here is the latest on the condo projects in Atlantic Station:

 

Atlofts: The Atlofts in Atlantic Station has not fared very well in recent months due to the inability of the building to qualify for mortgage financing. Since the occupancy rate is under 50%, the building no longer meets stricter lending standards.

If you want to buy loft in this unique building and have cash, then you could be very well-positioned to take advantage of these conditions. Asking prices at Atlofts start at just above $200,000 for a 1 bedroom and $299,000 for a 2 bedroom/2 bath....but cash is king right now. Simply contact me to setup a time to come view them!

 

Element: Over 40 condos were auctioned off in one day at the Element just a few months ago. The next week, the developer reduced the remaining inventory to match the auction prices and sales went through the roof. There are still some great choices of 1,2, and 3 bedroom condos at the Element ranging in price from $131,000 to $300,000. See all of the condos at Element for sale by clicking here!

 

 

The Atlantic: with 1 bedrooms still starting above $300,000 and 3-bedroom penthouses going for $1.6 Million , the Atlantic has not yet adjusted to current market conditions. A company official has been quoted as saying that they may try to renegotiate terms with their lender so that they can adjust the pricing to be more competitive. Construction on the Atlantic is progressing quickly and the building looks great. Give me a call if you are interested and I will give you the inside scoop. See the Atlantic condos Here!

 

 

Twelve: Twelve Atlantic Station was one of the first buildings in Atlanta to start seeing heavy foreclosures. With some nice 1 bedroom condos approaching the $100,000 mark, it may be one of the first to bottom out! The values in this building are superb...but be prepared to place a down-payment of 20%. The Twelve Penthouse was foreclosed on and is now available for offers of less than half the original cost.