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Clients Become Friends at Thomas Ramon Group and MyMidtownMojo!

June 20, 2022 by Thom Abbott

Clients Become Friends at Thomas Ramon Group and MyMidtownMojo!

In the world of real estate, I cross the paths of many different kinds of people. It is probably what makes working in the real estate industry so rewarding…at least for me! 

Getting to know people as you help them with such a large financial decision, and a life decision as well! I will admit there are some people that I lose contact with…they move out of state, and we just don’t keep in touch like those that live here in Atlanta. It’s not for trying, it just happens. But then there are those, that become friends for life, and you really appreciate those relationships. Terry and Sue’s testimonial is one example of that kind of relationship….

 

MyMidtownMojo TestimonialIt was a football Saturday probably in 2007. Sue and I walked along Peachtree St. at 5th Street near the Georgia Tech campus. Although not a resident of Georgia at that time, we spent a lot of time in midtown for Georgia Tech functions and I worked out of Atlanta. We were window shopping and became interested in midtown condominiums. Given the amount of time that I spent in Atlanta hotels, the thought of having a condominium in Atlanta became very appealing. With the proximity to Georgia Tech and a MARTA station, a midtown condo seemed perfect for my situation.

So there we were window shopping on Peachtree and Thom Abbott came out from his real estate office to meet us and offer any help. My family lived in the Atlanta area and the State of Georgia for many generations; I knew my way around Atlanta. Shortly into the conversation with Thom, I realized that Thom knew midtown very well – the neighborhoods, the trends, the people, the businesses, etc. – and certainly knew a lot more than I about midtown. Thom takes the time to meet condo management teams; he truly understands midtown’s pulse. Thus began a business relationship which is now about 15 years strong and today is both business and friendship.

I’m not sure how many times Sue and I came to Atlanta and got together with Thom to look at condominiums and discuss the market. Previously I had never owned a condo; Thom took the time to make sure we understood the finer points of condo ownership and living. Our midtown condo was a second home and simply a one-bedroom one-bath unit. We looked off and on for maybe two years and at no point did Thom ever pressure us to hurry up and make a decision or to buy more than we need for our second home. I owned property in another state which I needed to sell in order to buy the Atlanta condo. Thom was totally patient and understanding of that situation.

In due time the out of state property sold and in March 2009 we bought our midtown condo. Sue and I could not be happier with the condo selection. Thom’s knowledge and experience in midtown condos was most valuable. My time both before and after work was very enjoyable. Of course walking to Georgia Tech functions (football, baseball, basketball, band, alumni, etc.) was really nice and we never had to worry about parking. The condo was perfect for our needs.

Sue and I stayed in contact with Thom Abbott throughout the years. Thom hosted some social gatherings which were very interesting and his way of keeping his finger on midtown’s pulse. Midtown has seen incredible changes since the 1960s. Thom studies and knows the market. He is a valuable real estate agent whether he represents the buyer or seller.

A lot changed from 2009 to 2022. In about 2020 I decided to sell the condo. I hated doing that but now retired I lost most of my reasons for coming to Atlanta. Sue and I coordinated with Thom about how best to present the condo for sale. Covid hit right then and Thom’s patience was once again tested. The real estate market fluctuated some during the pandemic and once again Thom offered valuable market advice. Finally in March 2022 the condo was ready to put on the market. Thom was the selling agent and the condo sold quickly.

After many years, the midtown condo has come and gone. I have many, many really nice memories of my time in the midtown condo. One thing remains – my friendship with Thom Abbott.

Thank you Terry and Sue for the opportunity to help you with your Midtown Atlanta real estate needs…and your friendship. Clients Become Friends at Thomas Ramon Group and MyMidtownMojo!

 

Filed Under: Blog, Buyers, Interesting Stories, Sellers, Testimonials Tagged With: Atlanta Condominiums, Buyers, midtown atlanta real estate, News, Sellers, Testimonials

How do Buildings in Midtown Get Developed?

June 15, 2022 by Thom Abbott

Midtown Owners Manual Midtown Alliance

Midtown Owners Manual for Developers

I’ve been selling real estate in Midtown Atlanta since 2004. I’ve seen some pretty dramatic changes to the landscape over those years…and I think there may still be a few exciting new things in the future. As you walk down the street, you might be wondering, how some decisions were made with regard to a particular building. And you are having an interaction with that building as you look at it, or even visit a retail establishment or enter the actual lobby of the building. And it could be a residential (condominium) building, a student-focused apartment building (think University House, SQ5, The Mark) or one of the numerous office towers that dot the skyline. 

Atlanta has not had much of a flair to make their skyline stand out. Sure, you can pick up various buildings in various locations, but that’s the thing…they are all over the place. You have Downtown, Midtown, Buckhead, the Perimeter ( think Perimeter Mall area) and then the Cumberland/Galleria area. If all the buildings from those areas were grouped together say Downtown to Midtown, you could have a pretty cool looking skyline. But developers in Atlanta seem to like the 4 squares of glass. Many of the newer construction buildings are lack-luster…in my opinion. Go to a city like Miami and the skyline will blow you away. It’s like each developer it trying to outdo the last one. Sure, they have oceans and bays for views, so they have amazing balconies on all the buildings. (If you notice, in Atlanta, balconies are often pretty small…almost an after thought. 1010 Midtown and Plaza Midtown are an exception) 

But all of this goes through a pretty extensive design review process through the City of Atlanta, and in Midtown specifically, you have the Midtown Alliance and their Design Review Committee (DRC). And they have a pretty good road map for any developer to follow….but they don’t really say “hey, would you make something that will WOW us?” Mind you, I’m a residential real estate broker, not a developer or builder. So I will be the first to admit I’m lacking in knowledge on this type of construction and all that goes into it. But, I can say, if I was building a building, I’d want it to be one that people driving on the Downtown Connector would go, WOW, WHAT BUILDING IS THAT! 

But to help you understand some of the guidelines that the DRC works with, and expects developers to follow, take a look at the Midtown Owners Manual for Developers. It’s a pretty cool online book that will give you some insight into the design goals for Midtown Atlanta. 

And maybe, just maybe one day, you’ll see that 40 story building go up, be it residential or office…and you will go WOW! I know I’m waiting. 

Filed Under: Atlanta Relocation, Blog, Midtown Atlanta, Midtown Atlanta Apartments, Midtown Atlanta Condos For Rent, Midtown Atlanta News and Events, Midtown Photos, Random Topics Tagged With: Atlanta Condominiums, atlanta relocation, Condominiums, Intown Atlanta Real Estate, midtown atlanta real estate, odds and ends, personal thoughts, So You Know

It’s a Great Feeling to Have Happy Clients!

June 11, 2022 by Thom Abbott

Testimonials for Thom AbbottIt’s a great feeling to have happy clients! I so enjoy working in real estate and helping people realize their “real estate goals” in the way of buying and selling. Real estate, the buying and selling of, is a complex process with many moving parts. It can be a very stressful time for either a Buyer or a Seller. But my role, is to absorb as much of that stress away from my clients as I can, and with my knowledge and my team, be able to create a memorable real estate experience that is positive. 

Dave and Adam found me online back in 2017 when they were looking to buy their first home. They worked for a major cruise line, and had literally lived out of suitcases for years! How crazy is that! They settled on Atlanta as a place to call home (Dave is originally from South Georgia). We looked at several condominium complexes and finally found just the perfect one for them. They had a great lender with Michele Wentworth with Silverton Mortgage.  She was even able to attend the closing with Dave and Adam as I was already scheduled to be out of the country on a trip. We became great friends and I always looked forward to their return to Atlanta from the high seas! Of course, the pandemic turned the cruise industry upside down…and they were able to ride it out with their company. A great land-based opportunity became available for Adam in Los Angeles, and so the Atlanta chapter of their lives came to a close!  We were able to work through an appraisal issue, and get them to their Celebration Day!  Here’s what they had to say about their selling experience:

“This is our second opportunity working with Thom. He has guided us through the purchase and now the sale of our first property. If we were not leaving the State, Thom is the ONLY person we would work with in real estate. His knowledge is so vast and his guidance is invaluable. Thom sets clear expectations on the ever changing market and remains in constant communication. You always feel like a priority when you work with Thom and his support, kindness and attention to detail is like no other.
Whether you are a first-time homebuyer or a seasoned real estate investor, Thom should be the person you choose to work with!”

My best wishes to Adam and Dave on this next part of their life journey! I know we will remain friends, and our paths will cross again! Thanks for your trust and your friendship! 

Filed Under: Blog, Interesting Stories, Testimonials Tagged With: Condominiums, Intown Atlanta Real Estate, News, Sellers

Why Rising Mortgage Rates Push Buyers off the Fence

May 20, 2022 by Thom Abbott

Why Rising Mortgage Rates Push Buyers off the Fence

Why Rising Mortgage Rates Push Buyers off the Fence | MyKCM

If you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans.

Today, buyers are reacting in one of two ways: they’re either making the decision to buy now before rates climb higher or they’re waiting it out in hopes rates will fall. Let’s look at some context that can help you understand why so many buyers are jumping off the fence and into action rather than waiting to buy.

A Look Back: How the Current Mortgage Rate Compares to Historical Data

One factor that could help you make your decision to buy now is how today’s mortgage rates compare to historical data. While higher than the average 30-year fixed rate in recent years, the latest rates are still comparatively low when you look at the bigger picture of where rates have been since 1971 (see graph below):

Why Rising Mortgage Rates Push Buyers off the Fence | MyKCM

Mark Fleming, Chief Economist at First American, explains it like this:

“. . . historical context is important. An average 30-year, fixed mortgage rate of 5.5 percent is still well below the historical average of nearly 8 percent.”

If you’re deciding whether to buy now or wait, this is important context to have. Today’s mortgage rate still gives you a window of opportunity to lock in a rate that’s comparatively lower than decades past.

A Look Ahead: What Happens if Rates Climb Further

The buyers who are springing into action now are also motivated to make their move because they know rates have risen steadily this year, and they’re eager to get ahead of any further increases.

Why? When mortgage rates climb, they impact the monthly mortgage payment you’ll have on the home you’re buying. Basically, it’ll likely cost you more to buy a home if you wait. Experts say mortgage rates will rise (although more moderately) in the months ahead. Odeta Kushi, Deputy Chief Economist at First American, explains:

“. . . ongoing inflationary pressure remains likely to push mortgage rates even higher in the months to come.”

So, if you’re ready and financially able to buy now, it may make more sense to get off the fence and make your purchase sooner rather than later. As Nadia Evangelou, Senior Economist at the National Association of Realtors (NAR), says:

“With even higher interest rates on the horizon, I don’t see any reason to hold off from purchasing a home right now. If you feel financially secure, you should start looking for a home.”

At the end of the day, there is no perfect advice on when to buy a home. What you should do depends on your goals, your finances, and your personal situation. Use this information with the help of local real estate professionals to make an informed decision on what’s best for you. The Mortgage Reports sums it up best:

“. . . if you’re on the fence about whether to buy now or wait for a better deal, buying sooner rather than later might be wise. That said, home buying is always a personal decision. Whether you should buy in 2022 depends on your financial situation and the local housing market where you live.”

Bottom Line

For many buyers, rising mortgage rates are motivating them to act now and make a purchase before rates rise higher. To decide what move is best for you, let’s connect so you have expert advice on your side. You can reach me HERE!

Filed Under: Atlanta Real Estate For Sale Or Rent, Atlanta Relocation, Blog, Buyers, Random Topics, Real Estate Tips, Sellers Tagged With: Buyers, Intown Atlanta Real Estate Buyers Guide, News, odds and ends, Seller Tips, Sellers

8 Tips For Moving Into Your New Home

January 13, 2022 by Thom Abbott

Congratulations! You found that new home or condo that you have been looking for! But guess what….now you have to MOVE! Whether it’s a new job and you can afford your first home, a job transfer, maybe you are moving up (or down) … whatever the reason for your move, it’s a big thing to move.  Let’s look at 8 Tips For Moving Into Your New Home:

8 Tips For moving into your new homeUtilities – I Mean Ya Gotta Have Power!

If you worked with me as your Realtor®, I will have reminded you about setting up utilities. This will be much different for a single family home than it will be for a condo. In a house, you will need to arrange the following: electricity, gas (if you have a gas furnace or appliances), water, phone (who has a landline now days?), Internet and possibly garbage service. 

In a condominium, what you have to arrange for will vary based on how the building systems and billing are set up. Some condo buildings you have to contact Georgia Power to have the power in your name. Some buildings actually bill this as part of your monthly HOA fee! Same goes for gas. Water/Sewer are usually billed through the HOA on the same statement. Newer buildings most likely will have Internet bundled into your HOA fee…you just have to set up a wireless router inside your condominium. Garbage is part of your monthly HOA fee. 

Change of Address

You probably don’t realize how many things you get in the mail that actually need a change of address. Magazines and catalogs would be the most likely ones you might forget. I’ve checked the mailbox on rentals condos, and I’m amazed at the things that are still coming to the past tenant. The same will be for you when you move in if they did not change their address…and where are YOUR subscriptions? It might be a good idea to start keeping a list a couple months before you actually move so you don’t forget these! 

Many of us have opted for paperless statements from our bank to car payments to credit cards. So that’s no problem. But in case you do still get them by regular mail, you will need to make those changes. 

And don’t forget your insurance. When you purchased, you had to provide your homeowner’s policy to your lender. But…there’s your car! You will need to change your address for this insurance…and you will have to visit the local Department of Motor Vehicles (in Georgia it would be the County Tax Commissioner) to get your new license plate ( we call it a “tag” in Georgia). Even if you moved counties in Atlanta, say from Fulton to DeKalb, you should make this change. It could have a difference on your ad valorem tax.

Change The Locks

8 Tips For Moving Change Your Locks

Depending on the condominium building you purchase in, this may not be necessary. If the building requires a FOB to access the lobby and elevators, it would be pretty hard to get to your floor and your door. (Side note: When you purchase, check with the Concierge or Management Office to confirm how many fobs are assigned to your home…and how many are ACTIVE! Maybe a housekeeper had one, and it never got returned and is still active?) But, if you want peace of mind and want to change the locks, you have to make sure the lock matches the rest of the locks on the doors! AND…you need to provide a new key to the Concierge as they have key to all homes for emergency use. 

If your building only requires a fob to enter the building, and then you can go to any floor or amenities, then I strongly suggest you change your locks. Before you even move in! 

As for a single family home or townhome, 100% yes, change ALL the locks. 

How Clean is Your New Home…..Really?

Unless you bought new construction (and there could still be some cleaning you want to do) your new home may not be as clean as you think it is…or you want it to be! There are a couple ways to approach this. 

You might want to do it yourself! This way you know what kinds of cleaning products were used, and how well it was actually cleaned because…well you did the cleaning! Another option is to hire a cleaning service to do a detailed cleaning. This may or may not include carpet cleaning and this might be an additional step you want to take. You can do either of these types of cleaning before or after you move in. Obviously, if you have time, doing it when the house or condominium is completely empty will make it easier for you or the company you choose. 

Pest Control

Covered in a condominium building….for the common areas, but you are responsible for your own home. Might need a spray around a sliding door or window or your entrance door, but that should be it. 

In a house, you have more to be concerned with. In Georgia, we have it all….from roaches to ants to squirrels. You will want to have a monthly or quarterly service for this. It’s a must. Period. Also, you will want to have an active termite protection on your home. This can be done several ways. When you got your Seller’s Property Disclosure Statement, there should have been information as to what type of bond your home has, and with with company. You will want to contact them to continue that service. (Lenders no longer require a termite inspection or letter as part of the lending process. If we have any concerns on a home you are looking to purchase, this is an additional inspection we would of completed during your due diligence period. 

Some Fresh Paint – That Orange Wall! 

8 Tips Painting Your New Home
You can paint…or hire a professional!

New construction will be all nice and fresh…but anything else….

Now, the Seller as part of preparing the home for sale, may have painted some, or all of the rooms. So this may already be done for you. But if not, there is nothing that gives a home a fresher feeling that a new coat of paint. There could be minor scuffs, or remaining nail holes that would be cleaned up. And then there is that orange bedroom you just can’t live with! 

If you can paint before you move in…it is way easier! No furniture to move or cover…just the floors! If you hire a professional painting company, ask for a discount for vacant rooms as they also don’t have to worry about moving furniture or having to cover it all! 

Hello Neighbor! 

You can do this while you are preparing your home (cleaning, painting, etc) or once you have moved in. Some neighborhoods may have an association and a welcoming committee that will show up at your home with a bag of “goodies” and information about the neighborhood, association and more. 

Getting to know your neighbors is a great way to learn more about your community. You can actually go door knock on the surrounding homes (might creep some people out so just use some common sense) or just keep an eye open for when anyone is working in their yard, or picking up the mail, walking a dog, etc. 

In a condominium building, I would not suggest you knock on doors!!! One way is to attend any building events like Board Meetings or Committee Meetings to start to meet people. If you have a pool or fitness center, this is another way. You may not see many of your neighbors on your exact floor, just due to people’s schedule. If you have a dog, you are sure to meet others when you are on the elevator, or at a pet station. I have heard of some people doing an Open House of sorts, and inviting all the people on their specific floor. Ahhhh…ya never know who might show up…but I’ll leave that up to you! 

Emergencies DO Happen…

And you need to be prepared for them. This can be much different in a condominium than a single family home, so let’s look at them separately….

Condominiums

new home prepare for emergencyWhether you have 3 stories or 30 stories, make sure you know where the closest exit stairway is to your home. If a fire alarm goes off, don’t wait to see if it is a false alarm. That time you delay could be life-saving. Newer buildings have more sophisticated systems and a Concierge can alert the residents via a PA system if it is a false alarm. But remember, they have to get from the First Floor to where ever that alarm went off to determine if it’s a false alarm. Most systems only allow a short period of time and then the entire building alarm will go off. Keep these points in mind:

  • Take your keys and Fob with you. When the alarms are over and you are allowed back in the building, you will need your Fob to …get back in the building!
  • Know what floors you can gain access back into the building from the stairwell. Stairwell doors are fire doors and should never be propped open. Doing so can help the fire spread. But if you are in the stairwell, and can’t get down, there are certain floors where the doors will let you back into the building. You can get this info from the Concierge or Property Manager. 
  • Take a damp towel with you. If you run into smoke, you can cover your nose and mouth. 
  • If you feel the need to remain in your condo, get water running in your bathtub….so you have it for towels, etc. The water may get shut off or service interrupted and you won’t have any. 
  • Do not tamper with or disarm your smoke detector! In a high-rise building, these are connected to the building system and are important. If your detector starts beeping, change the batteries. 

Single Family Home

Have an exit plan and a place for all family members to meet outside the home so you know everyone is out. This would be for a fire. In the event of severe weather like a tornado, have a safe place in your home. A basement is the first choice. If not, an interior bathroom…and have something to cover yourself with. Children and adults can wear a bike helmet to protect you from any falling debris, but other things like blankets will help. 

If you have a two story home, have emergency ladders in bedrooms so you have a way to exit the home. Have smoke and carbon monoxide detectors. Have fire extinguishers on every floor.

Wrap Up!

Moving is an exciting time for you and your family (and don’t forget the four-legged children too). But following these tips can help it be a little less stressful..and planning in advance what will happen and when! We hope these 8 Tips For Moving Into Your New Home were helpful!

If we helped you purchase or sell your home, we are honored to have been a part of the moving process! 

 

Filed Under: Atlanta Relocation, Blog, Buyers, Real Estate Tips Tagged With: Buyers, condominium safety, Intown Atlanta Real Estate, Intown Atlanta Real Estate Buyers Guide

Interest Rate Update For the October 29, 2021

October 29, 2021 by Thom Abbott

We just wanted to share with you, from one of our Team Lenders, current interest rates. 

Of course, keep in mind that your rate is subject or your personal or specific credit situation, and they could vary. This is why we have all Buyers meet with a lender to have an accurate picture of their financial situation, and their buying power, BEFORE we go shopping for a new home! 

Let us connect you with Kevin, or any of our Team Lenders and get you pre-approved TODAY!

 

Interest Rates for October 29, 2021

Filed Under: Blog, Buyers, Interesting Stories, Random Topics, Real Estate Tips Tagged With: atlanta relocation, Buyers, Condominiums, Intown Atlanta Real Estate Buyers Guide, So You Know

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Thom Abbott

Associate Broker, REALTOR(R)
905 Juniper Street, NE Suite 110
Atlanta, Georgia 30309
770.713.1505 Direct
404.876.4901 Office

 
 
 
 
 
 
 
 
 
 

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