Atlanta Condos For Sale

Seller Tips for Midtown Atlanta Real Estate (Part 3 of 3)

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Seller Tips for Midtown Atlanta Real EstateSelling your Midtown Atlanta condo or home need not be a stressful time. Mind you, things may happen along the way that cause that stress level to go up for all the parties involved. But if you have the right people on your team, it should be easy.

In my previous articles, I’ve covered disclosures and sales price to buyer information and written contracts. Let’s look at a few more items for you to consider as you list and sell your Midtown Atlanta condo or single family home.

Seller Tips For Midtown Atlanta Real Estate

 

Addressing Buyer Concerns Quickly

Buyer concerns will most likely come up as the result of a home inspection, but there can be other items of concern. In selling your Midtown Atlanta condo, you will complete a Community Association Disclosure Exhibit. This outlines what is covered in the monthly HOA fee, as well as potential assessments. If your HOA recently passed a special assessment and you ask the Buyer to pay this, you might have a “bump in the road.”

You might consider a pre-inspection before you list your home or condo for sale. This way, you can discover potential problems and address them before a buyer sees them. In a condo, there is not nearly as much to consider, depending on the age of the condo. Items you could have checked are the hot water heater and the heating/ac system.

A home in great shape will sell quicker, and usually much closer to it’s listing price…if priced right of course!

Fair Housing — What you CAN’T Do!

If I’m your listing agent, and I bring you an offer, don’t ask me the race of the buyer! In fact, neither you nor I can discriminate on the basis of race, color, religion, national origin, sex, disability or familial status. As a real estate agent, I have a commitment and an obligation to provide equal housing opportunities.

Violating fair housing laws carries stiff financial penalties….something neither of us will be paying!

What To Do With Pets What to Do with Fido?

“Oh, he’s the sweetest little thing and won’t bother anyone.” Ever been cornered in a house with that sweet little dog that wanted to take a leg off? Well, you don’t want to find out, and you certainly do not want a buyer or their agent to find out either!

Pets should be removed from the home during showings, and if not removed, then crated. You don’t even want to lock them in a room, as someone still might open a door.  Also know that a Buyer that is allergic to animals will quickly note the presence of an animal, and may not even look at your home further.

Choosing Your Real Estate Agent

Some agents are members of the National Association of REALTORS…and some are not. Some will tell you that if you select an agent that is NOT a REALTOR, you will be getting less than the best. NOTHING could be further from the truth. You should be most concerned with your agent’s knowledge of the market and neighborhood where you live. Choose someone that sells in your area, and has knowledge about your unique selling situation…such as condominiums.

You might think it’s ok to hire Frank your Friend from the burbs, but do they know your area? Your building? How to access it and where everything is?

If you are here at MyMidtownMojo, then you know we know Midtown Atlanta condominiums!

Here are links to Part One and Part Two of Seller Tips for Midtown Atlanta Real Estate!

Seller Tips for Midtown Atlanta Real Estate (Part 2 of 3)

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When selling your Midtown Atlanta condo or single family home, you want to take all the necessary steps to get your home sold as quicly as possible and for the best possible price. And these tips are just what you need.

In Part 1, we reviewed the sales price, disclosures, preparing your home for showings and providing important information to the buyers.  Now let’s look at some other points to consider.

Seller Tips for Midtown Atlanta Real Estate

Tips for Selling Midtown Atlanta Real EstateReal Estate Contracts Must Be In Writing

They could be on a bar napkin, but they have to be in writing! Now, you probably won’t sell your Midtown Atlanta condo off of a paper napkin, but I do want to stress the importance of the contract. In Georgia, purchase and sale agreements must be in writing to be enforceable. We don’t want any of that “he said, she said” stuff going on. There can be email exchanges back and forth that could possibily be enforced, but in the end, you want to have a written contract spelling out ALL the details of the sale.

Keep Your Copies

You should be given a copy of each and every document you sign as part of your sale. From your Listing Agreement to your Purchase contract to amendments and exhibits…if your name or initials are on it…you want a copy!

Just Because You Have a Contract

Oh how I wish I could simply say, once you have a signed contract, it’s smooth sailing. While many times it will be, there are many times it will NOT be smooth sailing. Most contracts will have contingencies that need to be met before the sale is finished. This can range from appraisals, to financing to addressing repairs to the property. In Georgia, buyers can ask for a due diligence period during which they conduct inspections, work on financing and just look around. During this time, the buyer may terminate the contract for any reason whatsoever!  This is why you want to have as short of a due diligence period as you can reasonably negotiate.

Passing Title to the Property

Tips For Selling Midtown Atlanta real estateThe Purchase and Sale Agreement requires you to convey good and marketable title to the property at the time of closing. This means it is free of any liens, mortgages or title defects.  As the Seller, you need to know that what you are going to “net” from the sale will be enough to cover paying off your mortgage, real estate fees and any of the closing costs you may have agreed to pay for the buyer. Your agent can provide you with a Seller’s Net Sheet that will help you see the money you will receive (or may have to bring) at the closing.

If you think you may not be able to have the funds needed, you may qualify to do a short sale. I’m happy to discuss this process with you and how it may be an option for you. You can learn more about short sales here.

In our last article, we’ll cover addressing buyer issues, fair housing laws, pets and choosing your real estate agent.

Here is a link to the first article of Seller Tips for Midtown Atlanta real estate.

Here is a link to Part 3 – Seller Tips for Midtown Atlanta real estate!

Reasons to Consider Condos in Your Home Search

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Reasons To Consider Condos in Your Home Search

Reasons to Consider Condos in Your Home Search
Are you having trouble finding a home that fits your needs and your budget? If so, you should know there’s an option worth considering – condominiums, also known as condos. I have been selling condos since I first became licensed as a real estate agent back in 2004. I’ve seen most of the current condo inventory in the metro Atlanta area be built. And I have owned a few of them as well. There certainly are benefits to condo living. And price can be a big factor, depending on what you are looking for and in what part of the city. Here are some other reasons to consider condos in your home search.

According to Bankrate:

“A condo can be a more affordable entry point to homeownership than a single-family home. And as a homeowner, you’ll build equity over time and have access to tax benefits that a renter wouldn’t.”

That’s why expanding your search to include additional housing types, like condominiums, could help you accomplish your homeownership goals this spring, especially if you can be flexible about the space you need. Condos are typically smaller than a single-family home, but that’s part of what can make them more budget-friendly (see graph below):

There is one important part of condo ownership you have to keep in mind, and that is the monthly HOA (homeowners association) fee you have to pay. This fee covers a variety of things, and can vary from building to building as to exactly what is covered in that fee. Normal items include exterior maintenance, fire and liability insurance, and some type of security, depending on the design of the community. When you are looking at overall affordability, and your mortgage payment, you (and your lender) need to consider how much the monthly HOA fee is. As part of your loan pre-approval, have your lender figure how much you can have in a monthly HOA fee…and this will also help me as we search for potential condos and knowing where we need to be with that fee.

In addition to providing more options in your home search and possibly your price point, there are several other benefits to condo living. They tend to require less upkeep and lower maintenance – and that can give you more time to spend doing the things you enjoy. Plus, since many condos are in or near city centers, they offer the added benefit of being in close proximity to work and leisure. Sometimes you will hear the phrase, “lock and leave” meaning that it is very convenient to just lock the door and take a trip…no need to have anyone water the lawn or mow the grass!!

Remember, your first home doesn’t have to be your forever home. The important thing is to get your foot in the door as a homeowner so you can start building wealth in the form of home equity. In time, the equity you develop can fuel a future purchase if your needs change.

Ultimately, owning and living in a condo can be a lifestyle choice. And if that appeals to you, they could provide the added options you need in today’s market.

Bottom Line

It could make a lot of sense to add condos to your home search. Let’s connect today if you’re ready to check out the options in our area.

Relocating to Atlanta GA – Hartsfield-Jackson Atlanta International Airport

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Every really good city (well at least a Big city…..) needs an airport. And if you are looking for one big guy, you found it right here. Relocating to Atlanta GA – Hartsfield-Jackson Atlanta International Airport! 

Relocating to Atlanta GA – Hartsfield-Jackson Atlanta International Airport

The name itself is quite a mouthful. ATL is the airport code used by airlines. Most locals call it Hartsfield International. Or Hartsfield Atlanta. No matter what you call it…you can call it big.

 

Hartsfield Jackson Atlanta Relocating to Atlanta

  • 94+ Million Passengers Annually
  • 275,000 Daily Passengers
  • Two Terminals (See my comments below)
  • Five Runways ( I think a hotel was lost in one expansion)

Besides offering you a non-stop flight to almost any city you want to visit, the convenience of Hartsfield-Jackson is why Atlanta is such a choice city for Fortune 500 companies to call it home! Do the names The Home Depot, UPS , Coca-Cola and NCR sound familiar? And don’t forget that Atlanta and the airport are the global headquarters for Delta Air Lines.

The Layout of the Atlanta Airport

As I mentioned above, the airport only has TWO terminals, North and South. You just need to know which terminal based on the airline you are flying. (Delta pretty much owns the South Terminal!) But once you are in the airport, there is where people think it’s confusing, or not a user friendly airport. Once you check in, you then have to ride The Plane Train, which is an underground train running from the two main terminals to the SEVEN concourses (T, A, B, C, D, E and F) The new International Terminal (F) opened in 2012 at a cost of some $1.4 billion. I can remember arriving in that terminal once BEFORE the Plane Train had been connected to it…and that was a nightmare to get back to the North/South terminals to then catch a MARTA train into the city. 

I remember flying out of Dallas, Texas (DFW) and missing my flight because it was so far from the entrance to the airport, and then if you did not know your flight number, you did not know know where to go! Maybe it has changed since that time, but it was very confusing to me…at least. Here at Hartsfield Jackson, you just have to know your airline to get to the right spot. Once you are in the airport, then you’ve got that Plane Train ride. 

How Do I Get To and From the Airport into Atlanta?

Hartsfield Jackson Relocating to Atlanta

 

The airport is accessible by car via I-85 or I-285. That is for the North and South Terminals. The International Terminal has its own entrance, separate from the domestic terminal. The international terminal entrance is accessible from Interstate 75 at Exit 239. Roadway signage directs motorists to the international terminal via interstates 75, 85 and 285. Surface street signs also have been updated to direct motorists to the facility. All of the Interstate signage points you to Domestic or International. I think THAT is confusing.

Depending on where you live in Atlanta, using MARTA is the most awesome way to get to and from the airport. It’s the final stop for both the Red and Gold Lines, and its connected directly to the Domestic terminal. If you live further North of Atlanta, you might have family or friends drop you at the outermost station and take the train from there. But if you live in areas like Midtown, Buckhead, Sandy Springs, and Brookhaven, access to the stations is relatively easy. 

 

 

 

I’ve Heard Getting Checked-in and through TSA is horrible?

Well, yes and now. Lots of factors play into this, but it’s best to error on the side of extra time on your Concourse (or the Delta Sky Club if you are a member) than miss your flight because of the long time at TSA. I honestly have never been in the TSA line for more than 30 minutes. I do have TSA Pre-Check….but thankfully have never been at the airport for the lines that I have heard snake around through the Atrium. 

Truly, our airport is one of the best things about our city.

 

Why You Shouldn’t Fear Today’s Foreclosure Headlines

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Why You Shouldn’t Fear Today’s Foreclosure Headlines

Why You Shouldn’t Fear Today’s Foreclosure Headlines | MyKCM

If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. There’s no doubt, the stories in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that really means is mission critical if you want to know the truth about what’s happening today. Here’s a deeper look.

According to the Year-End 2022 U.S. Foreclosure Market Report from ATTOM, foreclosure filings are up 115% from 2021, but down 34% from 2019. As media headlines grab onto this 115% increase, it’s more important than ever to put that percentage into context.

While the number of foreclosure filings did more than double last year, we need to remember why that happened and how it compares to more normal, pre-pandemic years in the market. Thanks to the forbearance program and other relief options for homeowners, foreclosure filings were down to record-low levels in 2020 and 2021, so any increase last year is — no surprise — a jump up. Rick Sharga, Executive VP of Market Intelligence at ATTOM, notes:

“Eighteen months after the end of the government’s foreclosure moratorium, and with less than five percent of the 8.4 million borrowers who entered the CARES Act forbearance program remaining, foreclosure activity remains significantly lower than it was prior to the COVID-19 pandemic. It seems clear that government and mortgage industry efforts during the pandemic, coupled with a strong economy, have helped prevent millions of unnecessary foreclosures.”

Clearly, these options meant millions of homeowners could stay in their homes, allowing them to get back on their feet during a very challenging period. With home values rising at the same time, many homeowners who may have found themselves facing foreclosure under other circumstances were able to leverage their equity and sell their houses rather than face foreclosure, and that trend continues today.

And remember, as the graph below shows, foreclosures today are far below the record-high 2.9 million that were reported in 2010 when the housing market crashed.

Why You Shouldn’t Fear Today’s Foreclosure Headlines | MyKCM

So, while foreclosures are rising, keeping perspective in mind is key. As Bill McBride, Founder and Author of Calculated Risk, noted just last week:

“The bottom line is there will be an increase in foreclosures over the next year (from record low levels), but there will not be a huge wave of distressed sales as happened following the housing bubble. The distressed sales during the housing bust led to cascading price declines, and that will not happen this time.”

Bottom Line

Right now, putting the data into context is more important than ever. While the housing market is experiencing an expected rise in foreclosures, it’s nowhere near the crisis levels seen when the housing bubble burst, and that won’t lead to a crash in home prices.

Pre-Approval in 2023: What You Need To Know

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Pre-Approval in 2023: What You Need To Know

Pre-Approval in 2023: What You Need To Know | MyKCM

One of the first steps in your homebuying journey is getting pre-approved.  To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains:

“In a preapproval [sic], the lender tells you which types of loans you may be eligible to take out, how much you may be approved to borrow, and what your rate could be.”

Basically, pre-approval gives you critical information about the homebuying process that’ll help you understand your options and what you may be able to borrow.

How does it work? As part of the pre-approval process, a lender will look at your finances to determine what they’d be willing to loan you. From there, your lender will give you a pre-approval letter to help you understand how much money you can borrow. That can make it easier when you set out to search for homes because you’ll know your overall numbers. And with higher mortgage rates impacting affordability for many buyers today, a solid understanding of your numbers is even more important.

Pre-Approval Helps Show You’re a Serious Buyer

Another added benefit is pre-approval can help a seller feel more confident in your offer because it shows you’re serious about buying their house. A recent article from Forbes notes:

“From the seller’s perspective, a preapproval [sic] letter from a reputable local lender often can make the difference between accepting and rejecting an offer.”

This goes to show, even though you may not face the intense bidding wars you saw if you tried to buy during the pandemic, pre-approval is still an important part of making a strong offer. In fact, Christy Bieber, Personal Finance Writer at The Motley Fool explains it may be the most important part of making an offer:

“Pre-approval maximizes the chances you’ll be able to actually close the deal – and sellers want to see that.

The fact that a pre-approval gives you a better chance of getting your offer accepted is undoubtedly the most important reason to complete this step . . .”

Bottom Line

Getting pre-approved is an important first step towards buying a home. It lets you know what you can borrow, shows sellers you’re serious about purchasing their home, and last but not least, it helps ME know what to be looking for as we search for a home.  We have a great team of Lenders to help you get that important pre-approval! Check them out at YOUR TEAM Page here on the site.

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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