Stability and Future Value Ensure Homeownership Is a Sound Investment

It’s no secret that today’s homebuyers are looking for bargains, new homes priced below market value because of the decline in the residential real estate market. But is this kind of shopping the best approach in the long run? “Buyers still need to look at the long-term value of the community they’re considering,” says Rick Schlosser with Coldwell Banker American Land Mart in Conyers, which represents a number of builders and new-home communities in East Atlanta. “Getting a house for a good deal may not be the only factor when purchasing.”

For instance, how far along is the community in being built out? Are the amenities already in place or just renderings in a sales center? Is the builder someone who is in this for the long haul, when the market turns back around? Will the builder still be around to back up warranty work? A good example of a stable community that’s still seeing sales is McCart Landing in Conyers, which sold its first homes in mid-2007. With prices starting in the $280,000s, the community offers 17 distinct floor plans and a complete amenities package that’s already in place. “Homes were selling very well before the market slow-down and we’re still seeing savvy buyers who seek the long-term value of purchasing here in a stable and established community,” said Brad Batchelor, Realtor with Coldwell Banker American Land Mart, exclusive listing agent for the community in East Atlanta. “Although the market has softened, our buyers are seeing the value in homes in this price range and know that when the market corrects, they will have made a good investment here.” McCart Landing is a stable community with a large number of residents. “The builders are continuing to build homes in McCart Landing, which has been the best-selling community in Rockdale County for several years,” Schlosser said. “This is yet another indicator that buyers can get a deal and at the same time feel secure that the community is not going to decrease in value.” An unprecedented five-year rise in home prices of both new homes and resales from 2002 to 2007 set the stage for a market correction. Easy access to credit and persistent low interests rates worked in favor of builders and home buyers, with prices rising an average of 12 percent per year for five years.

“There’s no question we’re in a correction phase,” Schlosser said. “But that doesn’t mean that builders are throwing in the towel. They’re still doing quality work and many are staying committed to their customers by taking a positive and proactive approach.” Wes Bonner, owner of Wes Bonner Homes Inc., which is building in McCart Landing, explained that while many builders have slowed down with building spec homes, they are doing new-home construction for buyers. “From a business standpoint, we’re finding that some buyers still want a home ‘from the ground up’ and are willing to go through the construction process to get exactly what they want,” Bonner said. “Spec homes are ready for immediate move-in, but we also have seen interest from people who need the time to sell their current home and can wait through the construction process, so it’s a win for all concerned.” Located at Exit 84/Salem Road, the community is less than two miles from I-20. Nearby retail development includes Home Depot, Wal-Mart, Carmike Cinemas, Old Navy, Office Depot, Kohl’s, and Circuit City. “This area is developing to meet the demand for quality retail, entertainment and restaurants,” Batchelor said. “Because it is so near I-20, it’s the ideal location.” From Conyers go I-20 east to Exit 84/Salem Road. Turn left across the interstate, and turn right at the third traffic light onto Old Covington. Turn left onto McCart Road, and McCart Landing is one-quarter mile ahead on the right. McCart Landing is being marketed by Coldwell Banker American Land Mart Inc. The sales office is open Tuesdays through Sundays from 1 p.m. until dusk. For information, call 770-761-5202.