William Reddish saw short-term and long-term advantages in moving from Philadelphia to metro Atlanta. Homes were more affordable, and he was intrigued by the idea of providing his son access to strong schools, from the early years to college.
“Once I came to Atlanta post-recession and visited friends, I was pleasantly surprised by the drop in the housing prices, especially in the northern Atlanta area,” he said. “I talked to my wife. I said, ‘We can get more for our money moving to Atlanta, especially if we’re in a really good school district.’”
With no immediate need to relocate, Reddish, 45, who owns a construction firm, took several trips to visit condos and townhomes. During one visit, he viewed 20 properties in a two-day period. Reddish realized he wasn’t the only one hunting, and he made several offers simultaneously.
“There were a lot of investors from other parts of the country coming into Atlanta. There were folks like me looking to relocate,” he said. “I realized that the properties were moving very, very quickly.”
No. 1
Top floor condo
A covered porch wrapped around the two-bedroom, two-bath condo on Henderson Mill Road in Atlanta, overlooking a courtyard and the large community pool. Archways added Spanish-style character, he said. The concrete floors gave him assurance that the condo in the Henderson Mill complex would be sound and fire proof. The condo, built in 1968, was listed for $52,000.
No. 2
Estate sale
A two-bedroom, two-bath condo on Roswell Road in Sandy Springs boasted built-ins in the den, which also had a fireplace. The bay window in the separate living room added character to the front of the condo. The condo, built in 1964 in the Foxcroft community, was being sold as part of an estate sale, in the $60,000s.
No. 3
Suburban townhome
A three-bedroom, two-bath townhome on Cedar Creek Court in Marietta also had a fireplace in the family room and extras such as shelves and hardwood floors in the entryway. The Cedar Canyon community offered a pool and tennis courts. The condo, built in 1973, was listed for $55,000.
The Choice
No. 1. Reddish worked with Chuck Azer of Coldwell Banker Residential Brokerage—Atlanta for three months, and he began making offers on properties in early 2013. While some buyers were placing offers sight unseen, Azer said he admired how Reddish inspected every property before making an offer, even though it cost him time and travel expenses. Some properties, such as No. 3, went under contract before he officially submitted the offer. For others, such as No. 2, he was outbid. Although Henderson Mill Road wasn’t his first choice, it was one of five offers he placed on the same day. He purchased the condo in May 2013 for $50,000. “I realized that a house or condo or a home of that size in the Philadelphia market in the type of neighborhood that I’m in would probably run me $200,000,” he said. Then he gutted the unit so that he, wife Paulina and son Jalien, who was born in January 2013, could move in. New bamboo floors, recessed lighting, kitchen countertops, backsplash and stainless steel appliances, and French doors were among the changes and upgrades.
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