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700+ Days on the Market! What's Wrong With These Homes?

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Despite the current seller's market, not every Atlanta home elicits a bidding war. Take, for example, the five unappreciated homes below. Each has been on the market for at least 700 days, one for nearly three years. Several have seen substantial price drops, to no avail. So, let's play a fun little game of "Find the Fatal Flaw." Why are these homes not selling? The cheapest among them is $1.9 million. Are all five simply overpriced? If so, at what price would they actually sell? Or are there other issues that make them unappealing? Let's take a look.


4770 Jett Road
Time on the market: 768 days
Price: $1,895,000
Pricing history: Listed for sale in July 2012 for $2.2 million, reduced to $1.95 million in October 2012 then to the current price in January 2013.
The home: This four-bedroom, 6,046-square-foot contemporary stacked-stone house near Chastain blends beautifully into its wooded environment. Does it blend so well that no one takes notice or are there bigger problems here?


1430 N Harris Ridge
Time on the market: 988 days
Price: $2,450,000
Pricing history: Listed in November 2011 for $2.8 million, its asking price has fallen seven times since.
The home: This five-bedroom, 10,000-square-foot Sandy Springs estate features a lighted tennis court, heated pool and spa and radiant heated marble floors. Is the kitchen too minimal for the price?


3066 Habersham Road
Time on the market: 802 days
Price: $3,600,000
Pricing history: Listed for sale in June 2012 for $3.6 million and hasn't budged a penny since. Previously sold in 2006 for $2.5 million.
The home: This circa-1940 home designed by Francis Palmer Smith has five bedrooms, six bathrooms, a pool and attractive finishes throughout. Is it hurt by the fact that it is listed at an almost-certainly-incorrect 3,830 square feet on every listing site?


711 Broadland Road
Time on the market: 704 days
Price: $4,495,000
Pricing history: Listed in September 2012 for $5.6 million, the house was up for rent at the same time for $15,000/month then three months later, for $10,500/month. Its selling price has fluctuated wildly during its time on the market, raised to $6.1 million in May 2013, then dropped to $4.3 million in January, dropped again to $2.5 million in March before being raised back up to $4.5 million in April.
The home: The listing for this 8.75-acre Buckhead estate says the home "needs renovation," which may not be what most people are looking for at this price point. Was the 7-bedroom, 10,550-square-foot home at least worth the $2.5 million the owners were asking in March?


979 Buckingham Circle
Time on the market: 911 days
Price: $4,850,000
Pricing history: Listed for $5,995,000 in February 2012, this home has seen two price chops: one in April 2013, when it went to $5.5 million, and another this February, when it landed on its current asking price.
The home: This nine-acre gated Buckhead estate has a pool with a pavilion, wine cellar, bar, billiards room, gym, home theater and tennis court. Its six bedrooms and 12 baths are spread across a roomy 12,629 square feet. It is the priciest home in the vicinity by a good margin; is that where its selling problem comes from?