Atlanta Condos For Sale

Intown Atlanta New Construction Everywhere — Well, at Least if you want to Rent!

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It’s no secret that Atlanta is starting to see new construction again, especially Intown Atlanta New Construction! But if you are waiting for that new condo tower to rise, you might be waiting awhile!

Intown Atlanta New Construction Everywhere

Midtown Atlanta currently has at least 9 apartment buildings in some state of development, including a completed building, Skyhouse at West Peachtree and 11th Streets. True, there has been a lack of quality apartments in the Midtown/Midtown West area for some time. Your options for upgraded apartment living meant you needed to find a condo being leased by a private owner (and making sure they had a leasing permit to go along with it) if you wanted something decent.

New Apartment Construction Buckhead AtlantaAnd Midtown is not alone! The Atlanta Business Chronicle (February 15-21 issue) reported that a developer has filed a rezoning request for a 6.5 acre site at the corner of Piedmont Road and Lenox Road (also called the Buckhead Loop.) This new project calls for two TOWERS of 26 stories (380 units) and 19 stories with 322 units!  It’s expected to take most of the year to get through the re-zoning process. And just down the street, Cousins Properties is building the 355-unit Circle Terminus in the Terminus complex.

But are we now in apartment overkill mode? We are talking some serious apartment construction! And the $50 question is, can, will and when would any of these buildings convert to condominiums? I’m working with a client right now that used to build apartment buildings and I asked him that very question. His response was that the loan on many of these buildings may be structured such that they cannot  convert for 5-10 years. This way, the lender realizes the return on that investment (loan) that they planned on. Now, there could be “out clauses” that involve penalties, and then, the developer would need to get NEW financing for the project as a condominium building.

Needless to say, all of this construction will bear watching over the next few years. That said, with no new condominium building construction on the horizon, expect to see Midtown Atlanta condo prices continue their rise! You can see and monitor the market changes in many of the Midtown Atlanta condo buildings at our Midtown Atlanta Market Reports Page.

ATTENTION Georgia Tech Parents!! Looking For That Perfect Off Campus Housing?

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Georgia Tech Off Campus HousingI’ve worked with numerous Georgia Tech parents that are looking for living options for their GATech student…other than on campus living. And many have turned to Midtown Atlanta Real Estate as a solution to their problem.

Just a couple weeks ago, I placed the ONLY 2 bedroom condo at Cornerstone Village Under Contract for parents of a GATech student! They are really excited about the place they got…and so is their daughter and her roommate!

I wanted to make you aware of another opportunity …at a great price…that could meet your needs, and long-term perhaps be an investment property for you!

DISCLAIMER NOTE :  This property is NOT my listing, but I’d be delighted to represent you as your Buyer’s Agent in making this purchase!

This is one of the over-sized one-bedroom floor plans (1,000+ sq. ft.) that was nicely converted into a 2 bedroom condo. It has huge living space with room for living room furniture, plus some student study areas (desks, bookcase and such) While the two bedrooms are smaller than normal, each has a window and probably more space than a typical dorm room would. There is one bath that can be shared.  It also has only 1 parking space, but since we are within walking distance to Tech Square or the Tech Trolley stop…no problem!

The kitchen is complete with granite counters and black appliances, and has room for a FULL-SIZED washer and dryer right in the condo. GREAT…no need to lose study time or wander off to some laundry area…it’s all right inside your condo!

We also had a post about the demand for on-campus housing earlier this week!

Contact me today before this one is GONE!!!

ATTENTION Georgia Tech Parents!! Looking For That Perfect Off Campus Housing?

We're sorry, but we couldn't find MLS # 5119348 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Georgia Tech Student Housing – Will I Get A Room For Fall 2013?

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Buying a Condo for Georgia Tech Student Housing

 

Demand for housing is up…pretty much everywhere in the U.S. Midtown Atlanta is no exception as we see a significant decrease in the number of available condos For Sale, and a marked increase in apartment construction. And the same seems to be true for Georgia Tech Student Housing.

February 5-28 was the sign-up period for On Campus housing for Returning Students. When you look at the Sign Up Instructions, you’ll find the following note:

Due to increased campus enrollment and planned hall renovations, any student who will be an undergraduate for Fall 2013 and  enrolled at Tech before Summer 2010 may not be guaranteed housing. The number of returning students who request a room in the initial  application period (February 5 – 28) will determine whether 5th and 6th year seniors will be placed on the Wait List or be guaranteed housing. Please check your email for a detailed explanation and further information.

So, what happens to Freshman, or even returning students? Where will you live? 

Georgia Tech Student Housing – Will I Get A Room For Fall 2013?

Maybe there is another option? What about a Midtown Atlanta Condo? And instead of renting, why not BUY a Midtown Atlanta condo for your Georgia Tech son or daughter to live in while they attend school? Prices in Midtown Atlanta are on the rise, and now might be the perfect time to make that real estate investment.

Imagine this…you purchase a condo (especially if a 2 bedroom) and your son/daughter has a roommate. Their “rent” is going to cover the cost of your monthly HOA fees, and probably a bit towards the monthly mortgage. While there are no guarantees, if you are able to obtain a leasing permit (*), you could turn the condo into an investment property and rent it out. Or, if you have a student on the “extend plan,” (getting a Master’s degree) they could stay in the condo longer. Maybe another son or daughter coming behind the first one? Housing problem solved.

There are numerous Midtown Atlanta condominium buildings that are perfect for Georgia Tech Off Campus housing. Certainly, a word of caution….two bedroom condos are easily approaching and surpassing the $300,000 price point. So, if there are opportunities below that figure, it could be a good time to capitalize on this upswing in the Midtown Atlanta real estate market.

Georgia Tech Off Campus Housing CostsWhile the inventory of 2 bedroom homes at less expensive prices is a challenge, there ARE still some one bedroom homes that can be found for under $100,000. But, even THOSE are becoming limited. Cornerstone Village has been the best option for this, but even this building now has very limited inventory. (I just put the last 2 bedroom condo Under Contract to…..You Got it! Georgia Tech Parents!)

Here is an example of a mortgage on a $100,000 purchase price. Please note that the taxes and insurance will be higher than what is listed in this example. Please consult with a mortgage lender to get exact figures for your purchase! This amount also does not include your monthly HOA fees.

Certainly, Midtown Atlanta real estate just might be part of your Georgia Tech Experience!

(*) All condominium HOA’s have restrictions on the number of homes that may be leased at any given time. This is strictly enforced by the HOA. If you purchase a Midtown Atlanta Condo, there is NO GUARANTEE you will obtain a leasing permit by the time your son/daughter may have finished school. Once you purchase your condo, you may place your name on the waiting list for a rental permit. This waiting period could be as little as 3 years or 5 or more years. There is a variety of factors that can change the length of time it may take you to clear this list.  

 

Georgia Tech Off Campus Housing – Midtown Atlanta Condo Communities

Cornerstone Village – Peachtree and 5th Streets

MidCity Lofts – Spring Street

Plaza Midtown – Spring and 8th Streets

Spire Midtown – Peachtree and 7th Street

Viewpoint Midtown – Peachtree and 7th Street

Metropolis Midtown – Peachtree and 8th Street

Midtown Atlanta Condos For Sale Under $100,000

 

Need more information about the off campus options and Midtown Atlanta Real Estate? Call me directly at 770.713.1505 or email me at Info@MyMidtownMojo.com, or fill out the form below and I’ll be in touch!

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Will Atlanta ever embrace Prefab Construction?

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See on Scoop.it – Other Atlanta News Events
Prefab Construction in New York City

Though modular building has been around for a while, more developers and architects are embracing it.

 

Thom Abbott‘s insight:

This could be an interesting building alternative for Atlanta condominum buildings! I recall the Hilton Palacio del Rio in San Antonio was built this way.

See on www.nytimes.com

4 Obstacles to Decluttering — And How To Beat Them!

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If you are a condo dweller, and have been in your condo for some time, you might have “acquired” some “stuff.” It could be anything from Starbucks brown paper take out bags (hey, I love ’em too!) to magazines, to well, who knows.  But when you have drawers, shelves and closets stuffed….something has to go!

Any real estate agent (this one included) will tell you that if you are planning to sell your Midtown Atlanta condo, you want it to be lean and clean and spacious and sparkly. And the first way to get that started is with a good decluttering.

 

Sting Hunger Now Meal-Packaging Event | Friday, March 8, 2013

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Sting Hunger Now Event at GATechThe first annual Sting Hunger Now Meal-Packaging Event will be held on the campus of the Georgia Institute of Technology on March 8, 2013 as part of Hunger and Homelessness Awareness Week, though the event is being sponsored by a variety of clubs and organizations on campus in an effort to unite campus through a global-scope volunteering event.

Hunger and Homelessness Awareness Week is the annual week hosted by Georgia Tech’s Mobilizing Opportunities for Volunteer Experience (MOVE) club, which organizes service opportunities for students, faculty, and staff on campus. This year MOVE is partnering with CCF, absorbing CCF’s formerly-known Week of Compassion. Hunger and Homelessness Awareness Week is an opportunity to recruit the next generation of volunteers while promoting knowledge of the issues of hunger and homelessness in our communities, both on a local and global scale.

The Sting Hunger Now Meal-Packaging Event, in a partnership with Stop Hunger Now International Hunger Relief, is the culminating event of the week, inviting any and all persons on campus to participate in packaging 100,000 meals for children and families in developing countries and crisis situations.

WHEN:  FRIDAY, MARCH 8, 2013 10AM – 4PM

WHERE:  STUDENT CENTER BALLROOM

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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