Atlanta Condos For Sale

In Tighter Loan Rules, Wiggle Room for Banks

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See on Scoop.it – Other Atlanta News Events

Federal regulators, apparently concerned about doing anything to disrupt a recovering housing market, allowed mortgage lenders big concessions in a new slate of regulations.

 

But consumer advocates and some industry lawyers say that the safe harbor provision, in practice, will make it difficult for borrowers to pursue an exhaustive legal inquiry. So the safe harbor is seen as a big win for the banks.

 

“There’s this constant struggle between protection and access to credit,” said Leonard N. Chanin, a partner at Morrison & Foerster.

Thom Abbott‘s insight:

You gotta love the power of the lobbying effort….or not. Banks and Borrowers both got something…but you have to wonder who got the better part of the deal.

See on dealbook.nytimes.com

What Are Interest Rates To Buy a Midtown Atlanta Condo?

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We’ve gone through some turbulent times in real estate, no doubts there! Many people purchased when the market was hot, hot, hot and are now faced with challenges to sell based on the current market value of their condominium.

But for the Buyer, this means the values are much lower than they were in the past, and afford you the opportunity to purchase at a lower price than others may have in the past!  So there is the first part of the Buying equation — Low Prices +.

What Are Interest Rates To Buy a Midtown Atlanta Condo?

The second part of the equation, or cost to buying a Midtown Atlanta condo is your loan, and especially your interest rate, the “cost” of borrowing that money. If interest rates are low, you may be able to afford more in the purchase price of your condo because of that low rate. Well….

 

 

Less than T-H-R-E-E percent for a 15 year mortgage and 3.5% for a 30-year! That is simply amazing. Want a comparison? My own home loan is at 5.5% and my equity line at 6.5%. If ONLY I could refinance!!! But the point here is —

Low Prices + Amazing Interest Rates = Time To Buy A Midtown Atlanta Condo!!

Of course, you need to keep other factors in mind. Some of those are your personal lifestyle. Is your job secure and no foreseeable transfer coming? 99% of the Midtown Atlanta condo buildings are capped on on leasing permits, so you would not be able to rent out your condo if you had to make a job move.

You also want to “buy smart” in a building that is seeing price appreciation and is in a desirable location. That is where your real estate agent comes in!

Step Number One is to get you Pre-Approved for your mortgage, and the we can go shopping for the right Midtown Atlanta condominium for you! Give Michelle a call today and let’s put that equation to work for you!  And of course, call me at 770-713-1505 so we can talk about what you are looking for in your new home!!

How Atlanta Compares to Other U.S. Cities

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Atlanta Condo Prices Rise 23 Percent

If you are considering a move to Atlanta, you’d probably want to know how she compares to other cities, right? Maybe you have a choice of jobs in say San Francisco or Atlanta. Well, how much will get, or how far will your money go in the Peach City known as Atlanta?

Atlanta offers are many! Our close proximity to the North Georgia mountains offers countless recreation opportunities, not to mention a lush, scenic landscape that is carried right through Atlanta. In fact, many people comment on our tree coverage when flying into the city. Atlanta is blessed with several  major lakes. Closer in to the North, you’ll find Lake Allatoona and Lake Lanier. About an hour east of Atlanta you’ll find the combo of Lake Oconee and Lake Sinclair and to the South, perhaps the lesser known Jackson Lake.

Diverse cultural offerings range from world-class museums to Civil War battlefields and historic mansions. Many of these are tucked in close-in Atlanta neighborhoods like Buckhead or Decatur, or in suburbs like Kennesaw.

And then there is Southern Hospitality. Warm smiling faces and that occasional Southern drawl!

How Atlanta Compares to…?

If you were moving to Atlanta with a $50,000 annual salary, how would that salary compare to other U.S. cities?

  • $113,305 in New York City
  • $84,251 in San Francisco
  • $71,673 in Washington, D.C.
  • $64,085 in Seattle
  • $61,486 in Chicago

When it comes to living in Atlanta, almost every expense is well below the national norm. The data below shows relative price levels for consumer goods and services you would need. The average composite index for the U.S. is 100%, and each city’s index is read as a percentage of the overall average.

Atlanta Relocation Info and Cost of Living Chart

Of course, these are averages, and lifestyle and where you live in Atlanta can certainly impact any of these. If you live in an outlying suburb and have a longer commute, you may have lower housing costs but higher transportation costs.

Life is Good In Atlanta!

The Reasons People Moved in 2012

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Everybody moves in one way or another.

You move when you walk. But the kind of move I’m talking about is the place you call home. Some people will move more than others. It could be out of need, or they simply have the “ability” to move. Ability could mean they have equity in their home, a job transfer with some relocation benefits, who knows?

The Reasons People Moved in 2012

But moving is a big deal. Whether by necessity or by choice. Whether it’s across the street, across town, or across the state, it’s a big deal. Besides packing, and all that, there is the process of selecting the right real estate agent to market your home or condominium. And, if you are moving within the same city, do you use the SAME agent for both the sale of your current home, and the purchase of your next? Ah, that’s another topic.

But there can be many reasons you need to move. Whatever YOUR reason, I’m here to help make the real estate part of your move as smooth and easy as possible.

The Reasons People Moved in 2012

Atlanta Named #7 Happiest City For Young Professionals

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Buyers Agent for Midtown Atlanta CondosAs I write this post, it’s the holiday season…how’s that song, “it’s the happiest time of the year….” Well it would seem that here in the ATL, we seem to carry that feeling all year long, especially the young professionals.

Atlanta Named #7 Happiest City For Young Professionals

The online career site, CareerBliss.com created this list after 38,000 employee generated reviews were done between 2011-2012. CareerBliss defines a “young professional” as employees working full time, with less than 10 years experience in that full time position.

 

They were asked to rate 10 key factors that affect workplace happiness —

  • Work Environment
  • Job resources
  • Compensation
  • Growth opportunities
  • Company culture
  • Relationships with boss and co-workers
  • Company reputation
  • Daily tasks
  • Job autonomy
  • Work-life balance

The study goes on to say that the young professional is more inclined to “jump jobs” than their parents if they are not happy with the work environment. (I should of taken that one to heart when I was in the corporate world….LOL!) You can find the Forbes. com article here.

Atlanta Relocation InformationAnd the Top 20 Cities are…..(drum roll….)

  1. Los Angeles, CA
  2. San Jose, CA
  3. Sunnyvale, CA
  4. Indianapolis, IN
  5. San Diego, CA
  6. Irvine, CA
  7. Atlanta, GA
  8. Boston, MA
  9. San Francisco, CA
  10. San Antonio, TX
  11. Las Vegas, NV
  12. Seattle, WA
  13. Irving, TX
  14. Philadelphia, PA
  15. Orlando, FL
  16. Pittsburgh, PA
  17. NYC
  18. Plano, TX
  19. Miami, FL
  20. Houston, TX

Come on down to Atlanta and let’s get happy!

MyMidtownMojo Presents ANOTHER Happy New Homeowner!

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The biggest joy of real estate is the look on the face of a buyer I’m working with when we find “the one…” that is sure to be their new home.  Sometimes it happens after looking at just a few homes, and other times..it takes quite a few homes! But, it’s also fun to get to know your clients as you spend a few hours in the car, or walking the streets of Midtown Atlanta!

Here’s another happy client of mine on the steps of her new townhome….Thanks Liz! Enjoyed working with you too!

I cannot thank you enough for helping me in buying my first home! Your help and understanding as I waded through the home buying process were truly instrumental in me feeling so comfortable throughout this experience.

I had always heard nightmare stories about buying a home; deals falling through; questions not asked; and general frustration with the entire situation, but your personal interest in my experience eliminated every apprehension I had when I started looking. I am so grateful for your time – showing me even the places you knew I would hate-and patience, as I asked what felt like way too many questions.

I am thrilled with my purchase and very much appreciate all that you did to ensure my happiness.
Very truly yours,

Liz 
New Homeowner!!!

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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