How will Cityhood Affect Values?

So much conversation is swirling around Brookhaven and 95 percent of it has to do with becoming a city! And the other 5 percent is about real estate!

Let’s discuss: Overall, exposure in the press - whether good or bad - always draws attention to an area and ultimately, can make the real estate values rise.

We’ve seen it before in both Dunwoody and Sandy Springs. Brookhaven is smaller and more defined but has a competing amount of real estate and tons of new construction.

What does it mean for you?

More localized government can sometimes affect the schools within the city limits, often enhancing them. This again draws traffic, dollars and activity to the school, improving the scores online (greatschools.org) and the interest. We have several clients who only search by school district, regardless of whether or not they even have children. They know that any good investment hits all cylinders.

Local governments will affect taxation, and the jury is still out as to whether or not the taxes will go up or down. This will affect our property taxes but also the retail taxes. It will affect overhead for retailers, such as those in the new Town Brookhaven and Dresden Brookhaven Village. Rents may increase and some shops may choose to make changes.

Ultimately, we as taxpayers and residents of Brookhaven have control by education, conversation, and voting.

The more exposure Brookhaven receives citywide, statewide and nationally, the more likely people will understand the buzz about living here and will want to purchase homes in our area. This will result in lower inventory, fewer houses on the market and will push up prices. We’ve seen an increase in purchases this year already and much lower inventory in both homes for sale and for rent.

Let’s keep up the trend as increases in property value will improve our community overall, especially in a tough economic market. Brookhaven continues to stand out as an area improving overall despite the National negative press.

For more information or a home value estimation, contact us at www.topatlantarealestate.com

#1 Individual Agent 2011 at Keller Williams Brookhaven Office

Karen Smyth

404-234-1196

karen@topatlantarealestate.com

www.TopAtlantaRealEstate.com