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Atlanta Condos For Sale

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. Let’s talk about Why Rising Mortgage Rates Push Buyers off the Fence! 

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

We Love Happy Clients at MyMidtownMojo and Thomas Ramon Group

October 16, 2021 by Thom Abbott

We Love Happy Clients at MyMidtownMojo and Thomas Ramon Group

Selling real estate is a full time job…and then some. At least in the way that I approach it with my clients. You won’t find one of those voice mail messages about what time calls are received and returned. If my phone rings at 9pm, it gets answered at 9pm. And if I’m traveling, I’m still available for my clients. Such was the case with Andrea and Gilberto. 

I sold Andrea her condo back in 2016. Fast forward to 2021, and she now had a boyfriend, and they wanted to look for a home together. We had it Under Contract in a quick 5 days. So the house hunt began.  They had done the right thing by having their pre-approval letter from a lender in place and ready to go. And it was the market of 2021…where homes are flying off the shelf. We went to one open house that was more like a garage sale. The people were lined up down the driveway to see the home. We made some 5 or 6 offers on homes, but kept getting beat out by the “all cash offer.” 

It was the end of June, and I had a major trip planned and was going to be gone for a month. I told them I would have to refer them out to another agent to they could continue to look at homes. They said no! They wanted to keep working from me, and were ready to take a break from the house hunt and the contract frenzy. 

While in Albuquerque, NM, they called to to say they were headed to an Open House and felt this really was “the one” they wanted. Sure enough, it was. We submitted our offer, and I continued to negotiate it as my trip wound up. We were Under Contract by the time I returned to Atlanta. Both Andrea and Gil and such kind words to say!

Happy Buyers in Their New Home

“My fiancé and loved working with Thom. I worked with him 5 years ago when buying my 1st condo. We decided earlier this year that it was time to buy our first home together and worked with Thom to sell my condo and find our new home. It was one heck of a ride with this crazy market, but he made it more enjoyable for us. Love his energy!
 
Thom is very knowledgeable of the real estate industry and is good at what he does! While on our search, Thom was out on vacation for a month. He told us he could refer us to another team member while he was out, but we decided to just wait and take a break ourselves from house hunting. We still looked at open houses during that time and Thom made sure he had his laptop on him in case we wanted to place any offers. I definitely will work with Thom again in the future if in the market. Thank you Thom!”
 
Gil had this to say….”Let me start by saying just wow! It was such a pleasure and adventure working with Thom. Thom is professional, fun, well knowledgeable and a perfectionist in what he does. He made shopping for homes fun and enjoyable. My fiancé and I even looked at 18 homes in one month. Believe me the market was difficult and we almost gave up. He helped my fiancé buy and sell her condo. And now I can see why she recommended using him again to find our first home. From selling to buying, it was very overwhelming, but Thom made it simple and less stressful.”
 
After a month of endless house hunting and placing offers, Thom went on vacation for a month. He offered us to work with someone else, but my fiancé and I declined and decided we loved working with him so much it wouldn’t be right working with someone else. So we decided to take that time off from house hunting until he got back.  We are now all moved into our new home and couldn’t be happier.”
 
It truly is the real reward for selling real estate. Seeing young couples like this get the home they had been searching for. 
 
We might add that the day of closing, Gil and things pre arranged and he proposed to Andrea in their new home. AWESOME!!! 
 
 

Filed Under: Blog, Buyers, Random Topics, Real Estate Tips, Testimonials Tagged With: Buyers, News, Sellers, Testimonials

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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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