Georgia remains a hotspot for foreclosures, with the latest news being that February’s rate put us fourth in the nation for such homes. It’s not something we like to brag about. On the bright side, they’re down 3.52% from the same time last year. But that improvement could be negated by higher rates of foreclosure as the year goes on and banks finally sort through the paperwork that was tainted by the robo-signing scandal. Every level of the market has been affected by this crisis, so here’s a look at Atlanta’s more spectacular troubled assets.
We covered this condo atop the Mansion on Peachtree (soon to be Atlanta’s first Mandarin Oriental Hotel) a while back because it was Atlanta’s most expensive foreclosure, and it remains so. The 9,585 s.f. penthouse unit is still a concrete shell, albeit a spectacular one. The 360 degree views almost make up for the $4,600 monthly HOA fee and the $88,330 annual tax bill from 2009. We can’t wait to see the finished product in Atlanta Homes & Lifestyles!
This mini-mansion near Chastain Park was built to impress with its massive leaded glass entry and special touches throughout. The master bathroom is especially snazzy with its lit barrel vault and windowed shower, while the paneled sitting room practically begs for conversation over cigars. The fully mirrored exercise room is perfect for the narcissist in all of us, but we’ve got one question: how the heck do you photograph a room like that without being in the picture?
When a home’s starred in a Tyler Perry movie, you know it’s got that special something. This one was featured in “Madea’s Big Happy Family,” and it’s easy to see why. The European traditional facade is welcoming, and the interiors, while high end, have a cozy nature. Check out that basement, with its brick and stone accents, not to mention an iron gated wine room. The shower in the master bathroom is almost an outdoor experience, given the huge window that looks into the greenery Mt. Paran Road is known for.
We’ll end with another Buckhead condo, this one housed in the Park Avenue condominiums next to Phipps Plaza. It’s one of the more impressive units we’ve seen, and there doesn’t seem to be a feature in this foreclosure that isn’t custom. Leather trimmed walls, exotic marbles, heated floors, and some nifty pivoting glass walls are a few of the luxurious perks. After parking your luxury wheels in your private 2.5 car garage, you’ll be whisked up to your killer pad by way of private elevator. Simply gorgeous.