Home for Sale at 5230 Northside Drive NW, Atlanta, GA 30327

5230 Northside Drive Nw
Atlanta, GA 30327

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Property Details

List Price:	$1,500,000
Beds:	5
Baths:	4
Status:	Active
SqFt:	3980
Agency:	Keller Williams Realty Intown Atlanta

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Description/Comments

Lot Size:	1 acre(s)
Property Type:	Residential
Year Built:	1965
Notes:	Your own private sanctuary on Northside Drive, a stately Georgian Colonial home on an expansive lot. A grand, travertine tiled foyer welcomes you, setting the tone for a refined and relaxed interior style. This is a wonderful home for entertaining guests, with formal living and dining rooms, a brick-floored den with a wet bar and wood burning fireplace, and a covered deck that spans the length of the house overlooking a brick patio and immense backyard. Beautiful marble exterior counters, solid cherry wood cabinetry, and a central island anchor the kitchen in the rear of the house. The primary suite is on the main floor, separate from three large bedrooms plus an office flex space upstairs, with an elegant bathroom featuring a beautiful soaking tub. There is tremendous potential to create even more space in the unfinished, walkout basement. The backyard is a real gem, lush with shrubs, bushes and trees. It is also ready for a pool, play area, and tennis court. Easy access to major roads and highways, excellent public and private schools, grocery stores and restaurants in Sandy Springs and Buckhead.
MlsNumber:	7380303

Listing Provided By:	Keller Williams Realty Intown Atlanta, original listing
Name:	Keller Williams Realty Intown Atlanta
Phone:	(404) 541-3500
Office Name:	Keller Williams Realty Intown ATL
Office Phone:	(404) 541-3500
Agent Name:	Greg Kodesh
Disclaimer:	Copyright Â© 2024 First Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

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Property Details

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Description/Comments

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HUD Foreclosures

Foreclosure Listings Increasing