When Bad Things Happen To Good Houses

Jon Real Estate Leave a Comment

When I first came upon this tear-down-in-progress, the phrase “When Bad Things Happen To Good Houses”.  Upon reflection, I thought that the inverse might be more appropriate: “When Good Things Happen To Bad Houses” popped into my mind.

I’m not really sure which applies.

I do know this:  the buyer of this Morningside home secured the privilege of tearing it down for $410,000.  They purchased it almost a year ago- if they were closing on it today, they’d probably be paying an additional $50,000 for the opportunity.

They’ll build something big on it- probably 5 bedrooms with a basement.  Even without much of a backyard, they’ll list it for $1.3 million. Once the eventual buyer is finished with upgrades, they’ll end up buying it for an additional $50,000.

The in-town housing market- particularly in areas where residents feel confident about their public schools- is quite healthy.

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Jon Effron is widely regarded as one of the leading Realtors in Atlanta, working with both buyers and sellers throughout the metro area to maximize their real estate investments. In 2014, Jon was the #1 individual agent at Keller Williams Intown, one of the largest brokerages in Intown Atlanta. Prior to becoming a Realtor, Jon was the Vice President of Development at Tujay Group, an Atlanta real estate development firm. His career pre-real estate included stints at ABCNews.com, eGroups (now Yahoo! Groups) and Elite Traveler magazine, where he served as the Vice President of Marketing.