My Midtown Mojo http://www.mymidtownmojo.com Midtown Atlanta Real Estate Intown Atlanta Real Estate "Can You Feel The Vibe?" Mon, 25 Aug 2014 13:00:23 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 Downsizing From a House to a Midtown Atlanta Condo http://www.mymidtownmojo.com/downsizing-house-midtown-atlanta-condo http://www.mymidtownmojo.com/downsizing-house-midtown-atlanta-condo#respond Mon, 25 Aug 2014 13:00:23 +0000 http://www.mymidtownmojo.com/?p=9106 Congratulations!!!  You have shipped the last kid off to college! (Admit it, despite being sad to see them go, you are kinda ecited about having the place all to yourselves now. But wait? What are we going to do with 3500 square feet of house for just the two of us? We still have to clean […]

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Congratulations!!!  You have shipped the last kid off to college! (Admit it, despite being sad to see them go, you are kinda ecited about having the place all to yourselves now. But wait? What are we going to do with 3500 square feet of house for just the two of us? We still have to clean and mow the lawn (unless you have services for both!) What if we ditch the house and move Intown where we can walk and shop and leave the car in the garage? AWESOME!

Downsizing From a House to a Midtown Atlanta Condo

Downsizing to a CondoWAIT A MINUTE!!! We have 3500 sq. ft. of “stuff.” What ARE we going to do? What do we get rid of?

  • “I’m not giving up my Great Grandmothers’s writing desk!!”
  • “I’ve got to have my leather sectional so I can stretch out to watch college football!”

Indeed, these are some of the comments you will hear as you start the challenging process of downsizing from a house to a Midtown Atlanta condo. And some of these comments are important, but some of them we will have to think twice.

I’ve worked with many a condo buyer that is downsizing from a house. And the space of that 2 bedroom condo we are looking at is probably about the size of your kitchen, breakfast, dining, living room and maybe your family room. Yep. Forget that second floor or basement. And I often tell buyers that the furniture that works is your house probably won’t work in your condo!!

My rule of thumb is…if it has tremendous sentimental value (a treasure from your honeymoon trip) or a family heirloom that has been handed down (that writing desk above) then those are the things we want to make sure we can find space for. That leaher sectional will best be sold, donated or handed down to one of those kids who needs furniture!!

It is not an easy process, an may be one you should start BEFORE you even start looking for your condo. But then again, by me showing you some options and space, it may give you a better perspective as to what you can take, and what you can’t.

I found this great article, Moving to a Smaller Home, and Decluttering a Lifetime of Belongings that might help you understand the process and give you some ideas for getting started.

Once you are settled in your new condo, you are going to love your new lifestyle. You may not need that leather sectional to watch the college game as you may join your new found friends at a local sports bar for the afternoon!

Midtown Skyline From Spire Feb 2014

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Cornerstone Village | Midtown Atlanta Market Report | July, 2014 http://www.mymidtownmojo.com/cornerstone-village-midtown-atlanta-market-report-july-2014 http://www.mymidtownmojo.com/cornerstone-village-midtown-atlanta-market-report-july-2014#respond Sat, 23 Aug 2014 13:00:02 +0000 http://www.mymidtownmojo.com/?p=9098 Cornerstone Village has always been the Midtown Mile “value” condominium building for buyers looking in Midtown Atlanta. And while it still is, you can quickly see from this Market Report that prices, especially for a two-bedroom home has climbed dramatically in the last year! Cornerstone Village | Midtown Atlanta Market Report | July, 2014 There […]

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Cornerstone Village has always been the Midtown Mile “value” condominium building for buyers looking in Midtown Atlanta. And while it still is, you can quickly see from this Market Report that prices, especially for a two-bedroom home has climbed dramatically in the last year!

Cornerstone Village | Midtown Atlanta Market Report | July, 2014

There has been minimal inventory at Cornerstone Village over the past few months, and it’s kept the activity to a minimum as well.

Cornerstone Village Market Report July 2014

Let’s take a closer look at the activity…

ACTIVE LISTINGS (4)

  • 3 One bedrooms listed at $124,900 to $157,500
  • 1 Two Bedroom listed at $250,000 (This number will be important when we look at 2013 sales!)

PENDING LISTINGS (UNDER CONTRACT) (7)

  • 4 One Bedrooms ranging from $101,000 to $159,900 (The $101 is a Short Sale Pending Lender Approval)
  • 3 Two Bedrooms ranging from $210,000 to $237,900

SOLD

  • There were no homes sold (closed) in July of this year

Georgia Tech Off Campus HousingNow, for a comparison sake, in July 2013, there was 1 one-bedroom at $124,000 and one 2-bedroom that sold at $172,000!! Here is where I mentioned the numbers would be important. Look at the prices of two bedrooms currently listed and what is Pending…..a jump from $172,000 to $237,900!!! This is one of the most dramatic price increases we have seen in ANY Midtown Atlanta condo building!

Cornerstone Village has been very popular with parents of students attending Georgia Tech. By making a real estate investment in their son or daughter’s future, they have been purchasing a condo that their kid could share with 2-3 other students. With the price increases, this is a bit more challenging. But even to purchase now, if prices continue to go up, you should see a return on your investment, and saved all the money from the cost of on-campus housing.

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Atlanta Media Campus Casts Los Angeles Based MBS3 Production Studio http://www.mymidtownmojo.com/atlanta-media-campus-casts-los-angeles-based-mbs3-production-studio http://www.mymidtownmojo.com/atlanta-media-campus-casts-los-angeles-based-mbs3-production-studio#respond Sat, 23 Aug 2014 02:09:56 +0000 http://www.mymidtownmojo.com/?p=9102 The curtain is up and we now know who will be running the next big Atlanta movie production studio….Atlanta Media Campus. Developer Jim Jacoby (you know him from Atlantic Station fame) has a deal with the Los Angeles based MBS3 to lease, manage and operate the Atlanta Media Campus, located at Jimmy Carter Blvd and […]

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Atlanta Media Campus RenderingThe curtain is up and we now know who will be running the next big Atlanta movie production studio….Atlanta Media Campus. Developer Jim Jacoby (you know him from Atlantic Station fame) has a deal with the Los Angeles based MBS3 to lease, manage and operate the Atlanta Media Campus, located at Jimmy Carter Blvd and I-85, just outside the Perimeter and close to Midtown Atlanta.

Atlanta Media Campus Casts Los Angeles Based MBS3 Production Studio

MBS3′s television and feature film studio is home to James Cameron’s Lightstorm Entertainment and the next three sequels to Avatar, a science-fiction blockbuster from 2009. MBS3 will provide new lighting and equipment and relocate a large portions of its inventory to Atlanta. That kind of technology is sure to bring even more major film productions to the OFS plant location, which Jacoby is transforming into Atlanta Media Campus and Studios.

AMC HUNGER GAMES 12 MARCH 2014

Atlanta Media Campus plans includes six sound stages, future office buildings, a hotel, condominium residences and production support in an area that is ready for new life in Norcross.

A challenge the Metro Atlanta area faces is qualified people (better known in the industry as “crew” to handle all these studios and the productions they are bringing to Georgia. Atlanta Media Campus and Studios will address that with an on-site school where students can learn, and then get “hands-on” training on the set. All of this is a challenge as most production companies want a crew that already has the experience. I think we will see some of that change as they look to staff up for their production.

The story from 11Alive below highlights this exciting development and news!

MyMidtownMojo.com will soon launch a new portion of our site, entitled “Living Near Atlanta Media Campus” where we will offer information about housing for individuals that may be looking to relocate to the Atlanta area and….live near the campus. We currently have a Facebook Page with the same name.  One huge benefit to the location of this studio versus the already opened Pinewood Studios in Fayetteville, is that this location is only about 10 miles from Midtown Atlanta. People relocating to Atlanta for Atlanta Media Campus will be able to enjoy the urban lifestyle of Midtown Atlanta, and be close to the studio.

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Midtown Discounts and Deals from Midtown Alliance http://www.mymidtownmojo.com/midtown-discounts-deals-midtown-alliance http://www.mymidtownmojo.com/midtown-discounts-deals-midtown-alliance#respond Fri, 22 Aug 2014 20:56:46 +0000 http://www.mymidtownmojo.com/?p=8940 One of the great things about life and living in Midtown Atlanta is the food! If you are not partial to messing up your nice condo kitchen, you will LOVE living in Midtown Atlanta! Breakfast, lunch, dinner, drinks and coffee…you can find them all just outside your door! And how about all those opportunities at […]

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Midtown Alliance Member DiscountsOne of the great things about life and living in Midtown Atlanta is the food! If you are not partial to messing up your nice condo kitchen, you will LOVE living in Midtown Atlanta! Breakfast, lunch, dinner, drinks and coffee…you can find them all just outside your door!

And how about all those opportunities at a d-i-s-c-o-u-n-t!!!! Oh Yeah!

Chances are pretty good that your condominium HOA is a member of the Midtown Alliance. This is the community improvement district (CID) that is responsible for creating the Midtown Blueprint back in the 90′s…and is what as made Midtown what it is today! Part of that membership is a 10% discount from participating Midtown merchants and restaurants. If you don’t have a membership card, check with your concierge to get yours!

And then you can start dining and saving! For more information about the program, check out the Member Deals and Discounts Page at MidtownATL.com.

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Is The Metro Atlanta Home Inventory That Low? http://www.mymidtownmojo.com/metro-atlanta-home-inventory-low http://www.mymidtownmojo.com/metro-atlanta-home-inventory-low#respond Wed, 20 Aug 2014 16:10:15 +0000 http://www.mymidtownmojo.com/?p=9081 Let’s face it, real estate kind of makes the world go around. After all, it was the real estate bubble that sent the entire economy into a tail spin. And it is the rise of the housing market that will also help move the economy forward. Just think, as more homes, condos (or in the […]

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Metro Atlanta Home InventoryLet’s face it, real estate kind of makes the world go around. After all, it was the real estate bubble that sent the entire economy into a tail spin. And it is the rise of the housing market that will also help move the economy forward.

Just think, as more homes, condos (or in the Midtown Atlanta case….apartments!) are built, we will need more carpet, sheetrock, cabinets, light fixtures, concrete, pool chairs….the list goes on and on.

Is The Metro Atlanta Home Inventory That Low?

But as a real estate broker, I’m often asked about the inventory of homes for sale. I always, always first answer that question with the statement that real estate is local, local, local or as you may have heard, location, location, location. What that means is what is happening in Midtown Atlanta does NOT mirror what may be happening in Gwinnett County or Alpharetta.

But the recent Case-Shiller Report for Atlanta shows just how low our inventory is! Again, keep in mind this is for the Metro Atlanta area, NOT just Midtown Atlanta!

Is Atlanta real estate inventory low

What does this mean? Well, if you are shopping for a home or condo in the $100-200,000 price range, there is some really limited inventory to choose from. If you are shopping at $500,000 and above, you might find a few more options to choose from.

And some Sellers are reluctant to place their home on the market for the very reasons above. “Will be we able to find a place that we like with such limited inventory?” “If our home goes Under Contract quickly, will we have time to find something?”

Hence, it becomes the Seller’s market, because of this low inventory, many homes go Under Contract immediately (or within a couple days) and multiple offers is not uncommon!

Yes, the Metro Atlanta home inventory For Sale IS that low!

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Viewpoint Midtown |Midtown Atlanta Market Report |July 2014 http://www.mymidtownmojo.com/viewpoint-midtown-midtown-atlanta-market-report-july-2014 http://www.mymidtownmojo.com/viewpoint-midtown-midtown-atlanta-market-report-july-2014#respond Tue, 19 Aug 2014 13:00:22 +0000 http://www.mymidtownmojo.com/?p=9077 Viewpoint Midtown |Midtown Atlanta Market Report |July 2014 Viewpoint Midtown was the last of the Novare-built condominium buildings in Midtown. (They have now turned to mass production of the Skyhouse Apartment building!) But the building did learn from it’s older sisters and the amenities package as well as the finishes in the condominium homes themselves […]

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Viewpoint Midtown |Midtown Atlanta Market Report |July 2014

Viewpoint Midtown was the last of the Novare-built condominium buildings in Midtown. (They have now turned to mass production of the Skyhouse Apartment building!) But the building did learn from it’s older sisters and the amenities package as well as the finishes in the condominium homes themselves were a step up.

Let’s take a look at the sales activity in July, 2014 at Viewpoint Midtown….

Viewpoint Midtown Market Report July 2014

 

 

ACTIVE LISTINGS (8)

  • Three 1 Bedrooms listed from $239,800 to $280,000
  • Five 2 Bedrooms listed from $305,000 to $394,000

PENDING LISTINGS (UNDER CONTRACT) (9)***

  • Four 1 Bedrooms listed from $219,900 to $299,900
  • Five 2 Bedroom listed from $338,000 to $399,000

SOLD (7)

  • Four 1 bedrooms ranging from $227,000 to $245,000 or an average Sold Price of $238,000
  • Three 2 Bedrooms ranging from $289,000 to $358,000 or an average of $319,166.

***An important note about prices at Viewpoint – You have to look VERY carefully at the sales numbers in this building because of the way listing agents list the properties. Viewpoint Midtown offers at least three floor plans that are a one bedroom PLUS den, NOT A TWO BEDROOM!. But many agents will list these floor plans as a 2 bedroom. For our market review purpose, we move these back to a one bedroom category where they belong. If you were to count these floor plans as two bedrooms, they do not SELL for as much as a normal 2 bedroom, and the list prices and sold prices for 2 bedrooms would be much lower.

In comparison to 2013, there was one 1 Bedroom sold for $240,000 and two 2 Bedrooms with an average of $355,500.

Learn more about and Search Viewpoint Midtown Homes For Sale Here

 

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Spire Midtown |Midtown Atlanta Market Report| July, 2014 http://www.mymidtownmojo.com/spire-midtown-midtown-atlanta-market-report-july-2014 http://www.mymidtownmojo.com/spire-midtown-midtown-atlanta-market-report-july-2014#respond Sun, 17 Aug 2014 17:28:19 +0000 http://www.mymidtownmojo.com/?p=9068 Spire Midtown Atlanta was the second of the three Novare “sister” buildings built in Midtown. The first was Metropolis, then Spire and finally Viewpoint. Spire Midtown is a popular choice for Midtown Atlanta condo buyers! Midtown Atlanta Market Report |Spire Midtown| July, 2014 Let’s look at the activity in Spire for July…. ACTIVE LISTINGS (8) […]

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Spire Midtown Atlanta was the second of the three Novare “sister” buildings built in Midtown. The first was Metropolis, then Spire and finally Viewpoint.

Spire Midtown is a popular choice for Midtown Atlanta condo buyers!

Midtown Atlanta Market Report |Spire Midtown| July, 2014

Spire Midtown Atlanta Market Report

Let’s look at the activity in Spire for July….

ACTIVE LISTINGS (8)

  • Five 1 Bedrooms ranging from $168,500 to $222,900
  • Three 2 Bedrooms ranging from $355,000 to $399,900

PENDING LISTINGS (UNDER CONTRACT) (5)

  • Four 1 Bedrooms ranging from $199,900 to $209,900
  • One 2 Bedroom at $359,000

SOLD (3)

  • One 1 Bedroom at $195,000
  • Two 2 Bedrooms at $345,000 and $395,000

In comparison, in July, 2013, there were two 1 bedrooms sold for $172,500 and $184,500 and one 2 Bedroom at $310,000.

Quite a jump from $310,000 to $345,000 and  even $395,000 this year. I’ve been telling Buyers that are considering a Midtown condo purchase that the prices are NOT going down.

Search Spire Midtown Homes For Sale Here

To learn more about the Spire Midtown community (or building) you can visit our Spire Midtown Community Page.

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Could The Atlanta Civic Center Become a Film and Television Center? http://www.mymidtownmojo.com/atlanta-civic-center-become-film-television-center http://www.mymidtownmojo.com/atlanta-civic-center-become-film-television-center#respond Sun, 10 Aug 2014 13:00:46 +0000 http://www.mymidtownmojo.com/?p=9050 It’s been languishing there for sometime…with quite the name to follow….Boisfeuillet Jones Atlanta Civic Center. But times have changed since 1967. I remember going to see the Lion King here and would miss much of the show because if you did not have a dead center seat, the show was off to the side. Now, […]

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It’s been languishing there for sometime…with quite the name to follow….Boisfeuillet Jones Atlanta Civic Center LocationAtlanta Civic Center. But times have changed since 1967. I remember going to see the Lion King here and would miss much of the show because if you did not have a dead center seat, the show was off to the side.

Now, imagine….Film and television studios surrounded by a performing arts center, a hotel, along with residential, office and retail could transform the downtown Civic Center property into a regional tourist destination. The site is actually in what is often called no-mans land, since the Downtown CID and the Midtown CID don’t cover the area.

But the location certainly IS close enough to draw off either visitors/residents of Midtown Atlanta as well as visitors in the Downtown Atlanta area attending conventions and visiting other tourist attractions like the Football Hall of Fame, World of Coke and the Aquarium.

The city is in the initial process of getting a real estate broker in place and issuing a RFP (request for proposal) as to what the site could be turned into.

In the Atlanta Business Chronicle, Carter is the one proposing such an exciting change to the site.

Bob PetersonCarter’s chairman and CEO, said the firm is putting together a team that specializes in entertainment-oriented developments and movie-television production facilities. “The idea of studios with pre-production and post-production facilities, live TV and live audiences is not unique, but seeing that conceptually in Atlanta is new,” Peterson said.

Carter officials have had “a number of conversations” with a potential studio operator that he described as capable, reputable and financially sound.

The potential redevelopment of such a site (some 19 acres in fact) just shows there is still room for some exciting projects to come to live in Midtown Atlanta and the surrounding area. Keep in mind, the Civic Center MARTA station will also help this be a transit-oriented development…something we certainly need in Atlanta.

I’ll be keeping an eye on this project for sure!

Development Proposal for Atlanta Civic Center

  

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SalesLoft to add 55 Atlanta Positions http://www.mymidtownmojo.com/salesloft-add-55-atlanta-positions http://www.mymidtownmojo.com/salesloft-add-55-atlanta-positions#respond Fri, 08 Aug 2014 16:28:58 +0000 http://www.mymidtownmojo.com/?p=9047 SalesLoft, a start up company that helps businesses find new customers has received some impressive financial muscle and will add some 55 positions to the company in the next two years. Tom Noonan,  a serial entrepreneur who sold Internet Security Systems Inc. to IBM Corp. for about $1.6 billion, recently invested $800,000 in SalesLoft. The company headquarters is located in […]

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SalesLoft to add jobsSalesLoft, a start up company that helps businesses find new customers has received some impressive financial muscle and will add some 55 positions to the company in the next two years.

Tom Noonan,  a serial entrepreneur who sold Internet Security Systems Inc. to IBM Corp. for about $1.6 billion, recently invested $800,000 in SalesLoft.

The company headquarters is located in the Technology Building located at Piedmont Road and The Buckhead Loop. While housing opportunities exist in the area, SalesLoft employees might want to consider Midtown Atlanta as a great living option. Employees could even ride MARTA to the Buckhead Station and stroll through the Terminus development to their office building.

We look forward to helping these future SalesLoft employees find awesome places to live in Midtown Atlanta!

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Who Does The Closing Attorney Represent? http://www.mymidtownmojo.com/closing-attorney-represent http://www.mymidtownmojo.com/closing-attorney-represent#respond Sat, 02 Aug 2014 15:00:02 +0000 http://www.mymidtownmojo.com/?p=9041 This is not a bad question, and one I’m often asked! Purchasing a home or condominium will be one of the largest investments you make in your lifetime, and you want to know things are being done right. Who Does The Closing Attorney Represent? This is the perfect time to point out that real estate […]

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Buyers Agent for Midtown Atlanta CondosThis is not a bad question, and one I’m often asked! Purchasing a home or condominium will be one of the largest investments you make in your lifetime, and you want to know things are being done right.

Who Does The Closing Attorney Represent?

This is the perfect time to point out that real estate is local! How things are done in say California does not mean how they are done in Georgia! Your real estate agent may have covered this part of the home buying process with you, but in Georgia, the closing attorney represents the lender who is giving you the mortgage!  On closing day, your lender sends a “package” to the closing attorney which is basically the instructions and documents the lender wants you to sign in reference to y0ur mortgage. If I’m representing you as the Buyer, I will be with you at closing in case there are any questions, but the documents you are asked to sign are required by your lender.

Now, this stack of paper can be rather intimidating! The closing attorney SHOULD briefly explain what each document is as you sign them. You will not have seen most of these prior to closing. If you DO want to read them in advance, this is an important conversation for you and I to have with your chosen lender. Many times, the loan package is not delivered to the attorney until 24 hours before the closing. The attorney needs to know you want to review the documents BEFORE closing so they can have them prepared and emailed to you in advance. This takes some coordination between the lender, myself as your agent and the closing attorney! 

By the time you have reached the closing table in Georgia, an attorney is not really necessary to represent you. And while the Georgia Purchase and Sale Agreement has been carefully drafted to protect BOTH the Buyer and the Seller, that may be the time you would want to consult with an attorney. If you have any concerns about the process, just ask me and if it’s not something I’m knowledgeable about, then we can determine the professional (attorney, accountant or other) that you need to talk with!

The Closing Day is an exciting one! It should not be stressful and is the start of a new chapter of your life in your new home!

 

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