Condominiums of Buckhead Archives -

Reasons to Consider Condos in Your Home Search

March 31, 2023 by Thom Abbott

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.

HOA Rules and Regulations — The Pool

May 20, 2019 by Thom Abbott

If you live in a condominium, townhome or single family neighborhood, you very well may have a pool. And we know some of you make regular use of this amenity, and others…well…they saw it the day they looked at the property. But in Hotlanta, a pool is a pretty nice amenity to have. But the HOA Rules and Regulations have to have some rules for the pool.

And to share with the other 300+ homes in your building. Key word there is….share. Alas, but not everyone gets that part, or even still, not everyone understands what goes on with a pool.

I thought I’d share some Pool Rules that we picked up from a condo community…with some commentary about each rule.

Rules at the Pool
In an effort to help promote safety and overall enjoyment of the pool for all residents, we ask that you please take a moment to familiarize yourself with some of the pool rules listed below.

No Glass At The Pool – Glass is strictly prohibited in the gated pool area. This means no liquor/beer bottles, no wine bottles/glasses. No glass containers brought in via ice chest, cooler, tote. No glass, period. Aside from possible injuries, if glass breaks at the pool, the pool must be closed, completely drained for cleaning, inspected and cleared, then refilled. If this occurs, all costs will be passed along to the responsible party.

WHAT THAT MEANS — It can cost an HOA upwards of $5,000 to drain a pool, clean it, refill it, and have it treated again. Not to mention, the down time where the pool cannot be used AT ALL! Yeah, right smack dab in the middle of Summer Pool Season, your pool gets closed because some yahoo dropped a beer bottle. Moral to the story here — buy it in a can. If if don’t come in a can…your lazy behind will need to go up to your condo when you need a refresh.

No Smoking At The Pool – All forms of smoking are strictly prohibited in the gated pool area. There are designated smoking areas located near the planters at the exterior of the gated pool area.

WHAT THAT MEANS — Not trying to offend any smokers, but it’s not a pretty habit. You got it. We understand. Just do it someplace else. And sadly, many smokers don’t think tossing that butt anywhere is littering…but it is. There are many examples of patio furniture with burn holes in them, and even fires in landscaping from people tossing butts of balconies. How about we not smell the smoke or see butts in the pool. (Well, we wanna see butts in the pool…just not THAT kind!)

Limit 4 Guests Per Unit – For the enjoyment of all residents at the pool, each resident is allowed a maximum of 4 guests per unit at the pool. Guests must be accompanied by resident at all times.

WHAT THAT MEANS — You SHARE this pool. It’s not YOUR POOL. You can’t have a pool party and invite 10 of your friends. Why? Well, how’s about YOU come down to the pool and there is no place to sit, the pool is packed and 60% of those people don’t pay for that pool or pay your HOA fee, but you can’t use the pool? We get it….you’re popular and have lots of friends…but…you are going to limit them here.

Music At The Pool – As a courtesy to your neighbors, please keep all portable music devices at a volume that will not disturb others around you.

WHAT THAT MEANS — Whether you are into those noise cancelling headphones (that are now reminiscent of the 1970’s) or use Airpods, your music and your music tastes are…..just that. Your Music.

Elevators – Please be mindful of residents living on the xxth floor when going to the pool, or back to the elevators. Please keep all noises to a minimum, so as to not disturb your neighbors.

WHAT DOES THAT MEAN — Most condo building pools are accessed via some floor that also has (gasp) actual homes and residents living there! So after you have had a few cocktails, we know the volume can go up…and if all your friends (Limit 4 please) are equally happy…well there goes the noise in the hallways. Let’s use our inside voices.

As a reminder, when consuming alcoholic beverages, please drink responsibly. WHAT DOES THAT MEAN — Just what it says!

Any violations of the above rules and regulations may result in fines to the responsible units.

WHAT DOES THAT MEAN — A fine. And some communities don’t mess around with their fine schedules. And….there ARE cameras.

We appreciate everyone’s efforts in helping to maintain the pool as a fun and enjoyable area.

Do these sound harsh? No. They should be simple common sense, but hey, not all of us have that. So we have to put rules in place so everyone can enjoy the pool!

Atlanta Real Estate Market Brief — February 2019

March 19, 2019 by Thom Abbott

The Atlanta REALTORS® Association has released their Atlanta Real Estate Market Brief — February 2019.

This market brief examines sales and prices in an 11-county area consisting of Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Fayette, Henry and Paulding Counties. ( So take note…this is a really, really BROAD look at the real estate market in Metro Atlanta!)

Overall residential sales were at 3,464 which is a decrease of 7.4% from the previous year. When you look at price (both average and median) you see they continue to gain traction and are ahead of 2018 numbers. The median sales price in February was $264,000, an increase of 5.6% from February, 2018. The average Sales Price was up by 5.3% to $319,000.

What’s The Atlanta Inventory Like?

Inventory increased by 15.7% from February, 2018 with 12,806 active listings. (Remember those MetroBrokers digital signs back in the day that had 80,000, 90,000 and even 100,000 homes For Sale? Shreeeeek!) New listings were up by 15.4% from February, 2018. The month’s supply over a 12-month period decreased to 2.6 months.

Is This A Normal Real Estate Market?

A normal real estate market has 6 months of inventory. Less than 6 months (as indicated above) is a Seller’s market, and more than 6 months is a Buyer’s market. More inventory means buyers can probably get the Seller to negotiate more on price or other concessions. In a Seller’s market, we find homes selling for list price, and even above list price.

My word of caution in a report as broad as this…..real estate is all about location, location, location. These average sales numbers are just that… an average and what you may see in your neighborhood, city or specific condominium building may vastly differ from these numbers. This is why it’s always best to get a real estate professional to give you a market picture for your home and neighborhood/building.

If you have questions about the value of your home, give us a call, or just fill out the form below and we will be in touch with you!

Buckhead Market Report October 2018

November 16, 2018 by Thom Abbott

The Buckhead Atlanta real estate market is still moving, and we wanted to “take it’s pulse!” So let’s look at the Buckhead Market Report October 2018.

First, a look at the condominium market…and a disclaimer. Buckhead and how homes are listed by agents, can vary. We compiled this report based on the Area 21 as designated by the First Multiple Listing Service. (A map of this is to the right) Some listings that a buyer might think is a Buckhead area, may not appear as part of this report, but this is how we pulled these market numbers.

For October, there were 390 active listings, ranging from a Collier Green 1-bedroom at $115,000 to a 5-bedroom, 5-bathroom at The St. Regis for $15.995M. In the chart below, you can see the average days on market to be 80, but the St. Regis listing seems to have been on the market for 666 days!

62 listings were Under Contract, and ranged from $118,949 at Parklane on Peachtree to $1.8M at The Charles.

133 homes sold (or closed) in October in Buckhead. They ranged in price from $105,000 at Slaton Manor to a 2-bedroom at The Wakefield at $2.772M.

In the Single-family market in Buckhead, there were 499 homes listed For Sale. (An adjustment to the chart below is $379,900 for a home in LaVista Park to $25M for the former Tyler Perry estate, some 10,000 sq. ft on 17 acres. You can see that listing HERE!

There were 59 homes Under Contract ranging in price from $500,000 in Peachtree Hills to $4.950M on West Andrews Drive.

72 homes sold in October, ranging from $462,000 in Meadowbrook to $4.975M on Knollwood Drive in Tuxedo Park.

Keep in mind, this Market Report is a “snapshot moment in time” of what is happening in the market, and is a view at, say 30,000 feet. What may be happening with sales and prices in your condominium building could be much different that what is selling across the street. And the same is true for single family homes as well.

If you are looking to Buy or Sell a home in Buckhead, MyAtlantaMojo.com can help!

Selling? Do you want to sell your Buckhead single family home or condominium? Call us today at 770.713.1505 to schedule a free market analysis of your home. Or, complete our Seller Information Form and we will be in touch with you!

Buying? Are you looking to buy a Buckhead home or condo? We can set up specific searches for you based on price, building or other specifics you may be looking for. In a competitive Seller’s Market, we can alert you of new listings within minutes of them hitting the market! Just complete out Buyer Information Form, or let’s schedule a time to talk about what you are looking for!

Contact MyMidtownMojo and Thomas Ramon Realty@Palmer House Properties at 770.713.1505 or Info@MyMidtownMojo.com for all your Midtown Atlanta real estate needs!

16 Questions to Ask When Buying a Condo

September 8, 2018 by Thom Abbott

Buying a condominium can be much different than buying a single family home. Yes, you might buy in a neighborhood that has a homeowners association, so some of these questions would then apply. But I wanted to give you 16 Questions to Ask When Buying a Condo.

What’s the Condition of the specific condo as well as the overall building?

The particular condo you are looking at may be in great condition…or not. Keep that in mind when looking at the price, and any renovations you feel you may have to make. One example is hardwood floors. Many of them are likely not able to be refinished and you have have to install all new flooring. You’d want to do this before you move in.

Also look at the condition of the building, and common areas in general. Have they been recently refurbished/renovated? Do you see any cleaning people present when you are looking at the building? How does it smell….fresh and clean or some odors present?

How Many Homes are For Sale?

Sometimes, this could be a sign of a problem in the building if there are a large number of homes for sale. But that is not always the case. Everyone moves and for different reasons. And it might be that many owners now have the equity to make a move up, or could have a job transfer or other life-changing situation that has them selling. We can help you look at the homes for sale, and determine what, if anything may be happening in a building.

Are Rentals Allowed?

A majority of all condominium buildings (at least in the Metro Atlanta area) have leasing restrictions. While 25% of the building may be a norm for units that can be leased, we have seen lower amounts and some buildings that to not allow any leasing of the units….period. This is something to certainly keep in mind. What is you had a sudden need to move for a job, but were planning to return to your condo in a year? This is often referred to as a “hardship” and some buildings will grant you a 1 year hardship leasing permit. But if no rentals are allowed, this will not be possible.

Once you purchase, you need to place your name on the Rental Permit List. This process may be different for each building. Once on the list, you have to wait for your name to come up to the top of the list. This can take anywhere from 3-5 years, depending on the building and how they manage the process. Don’t think you are going to be buying a condo and living their for a year, and then renting it out. Or better yet, buying it as an investment from the start, and renting it out. That would be a big NO-NO! Now, that said, there are some buildings that have NO rental restrictions or have transferrable leasing permits. If this is something you want, or need, we can help you find these buildings. Keep in mind, if there are to many rentals, this can impact your ability to get a mortgage to purchase. (See Reserves, Deliquencies and Assessments below!)

What are the HOA Fees Per Month?

When living in a condominium building, you pay a monthly HOA fee. What is that for? Well that too, can vary based on the building and how they are structured. Older buildings might include many of the utilities, whereas newer construction now sub-meters (or bills) for all utilities like water, sewer and electricity. Some buildings will include high speed Internet in the HOA fee, and others you have to get this from a 3rd party vendor. Learn more about How Much are the Utilities in a Condo or learn more about The Community Association Disclosure and what it will tell you about the condo fees and what is included with them.

How Much Money does the HOA have in Reserves?

This is a question for both you, and your lender. Reserves are the monies that the HOA has put aside for future emergencies, or for future repairs/upgrades to the building. If the Association has NOT been putting enough in reserves, and any major projects like common area renovations or such have not been done, there could be a challenge to complete these in the future. Their could be an increase in the monthly HOA fee to cover the payments on a loan, as an example, or the HOA would need to pass a special assessment to cover the costs. These are not always for cosmetic things, but can be for more serious issues. We have seen several buildings with roof issues and they have had to pass special assessments to cover the cost of the repair.

Board Meeting Minutes

While we always request the last 6 months of Board Meeting Minutes, they will not always give you an eye into the nature of the Board, or how they manage things. Often times, issues are handled in an Executive Session (meaning it deals with a specific resident, so not public knowledge) so you don’t really know how the Board handled a situation. But they are still worth seeing to know what is being discussed or proposed within the building.

Lawsuits?

Both you and your lender will want to know this as well. If there is pending litigation, some lenders will not want to loan on a building. Or there could be the concern that when a settlement is reached, the costs may have to be paid by you!

Insurance

All HOA’s will have a Master Policy for insurance. This covers the building and major systems. You will need to have a your own policy to cover the contents of your condominium and your personal items. If you have done extensive changes to a condo, these may not be covered by the building master policy and you will need to have them covered in your own policy. Your insurance company will ask for a copy of the Master Policy and can help you determine the right coverage for you.

HOA Delinquencies

Owners can fall on hard times. And when they do, they may stop making their HOA payments. This will vary widely between buildings — based on the kind of building. For example, when you live in a high-rise building, all the common areas, and most likely your parking space, are Limited Common Elements to which you have access through. But when you don’t pay your HOA fees, the HOA can restrict your access to these. Yes, you won’t be able to get to your parking space! You can ride the elevator (you can’t be denied access to your home) but you may not be able to go to the gym or the pool area!

The concern here for you (and again, your Lender) is if there are to many delinquencies, the lender most likely will not issue a mortgage on the building. We are in the marketplace for most of the condominium buildings and know if this might be an issue.

Special Assessments Pending or being Talked About?

In the Community Association Disclosure we mentioned above, it must be disclosed by the Seller if there are any Pending, or proposed Special Assessments with the HOA. And even if there is not on pending, we request a copy of the HOA minutes for the past 6 months for our Buyers. Here, we may find items on the agenda that could be happening in the future, and might involve a Special Assessment. Not always, but sometimes we find this information. But, if the HOA is considering a Special Assessment, be it for a needed repair (roof) or upgrades ( renovations to hallways and/or common areas) this needs to be disclosed by the Seller. If there IS a Special Assessment pending, this can be yet another red flag for a lender and could put your loan in jeopardy.

The Neighborhood!

Yes, even when you are buying a condominium, you want to look at the neighborhood where the building is. What’s going on during the daytime? Nighttime? Are there things to do/walk to close to the building? It might be a beautiful building, but you may not like the location. There are condo buildings where you have to still drive to get to restaurants or shopping.

Is there access to transit (In Atlanta, that would be MARTA) or easy access to a major freeway for commuting? Is there any construction in the area that may be ongoing for many months that could have a short term impact on your quality of life? (It can be noisy during the day while a neighboring building is being built, but keep in mind that will not be going on forever.)

Parking For You and Parking For Guests

You never want to make an assumption about the availability of parking…..there are two bedroom condos with 1 parking space. (The construction “norm” has been 1 parking space per bedroom) And guest parking may be available on a limited basis. It may be free. It may cost. Or it may not be available AT ALL! If you think you are goin to be having guests that will be driving and need a place to park, this is something to look at. There are some Midtown Atlanta condo buildings that have NO guest parking available! Sad that was ever approved, but that’s what happened.

Storage Space Available?

Some condominium buildings have been built with additional storage spaces/rooms available. These are almost always for purchase. If you were lucky to buy one when the building was new, they are an asset to you! However, when it comes time to sell your condo, you will need to get the money for that space outside of the purchase of the condo. Lenders don’t consider storage spaces as value if they have the option to be sold separately. If the storage unit is permanently assigned to the condo, and cannot be sold, then there is added value there. If no storage space in the building, there are numerous storage facilities in Midtown and other communities where you can put your “stuff.”

HOA Management

While most condominium buildings are professionally managed by a management company (with direction from the HOA Board of Directors) you will find some smaller buildings that can be self-managed. Meaning the HOA is run by the residents and the Board is responsible for all aspects of running the community. Like collecting dues, etc. Just something to look at when you look at a condo building.

Who Do I Complain To?

This is not an easy question to address. You would almost have to meet someone that lives in the building you are considering and ask them how things are handled. There are rules and regulations that residents must abide by, but enforcement can be a dicey issue, depending on what the situation is.

16 Questions to Ask When Buying a Condo.

This is a great list to keep handy when you are shopping for a condominium.

Who Is Responsible for the HVAC Ductwork in My Condo?

August 13, 2018 by Thom Abbott

As a condominium owner, you’d like to think you live in a “set it and forget it” environment. Unfortunately, such is not the case. While you may not have a roof to replace (directly) or any lawn to mow, you do have maintenance items inside your condominium that ARE your responsibility and DO require attention. So when you ask Who Is Responsible for the HVAC Ductwork in My Condo, the answer would be…

Yeah, I’m afraid so! Just as you are responsible for the plumbing and hot water heater, YOU are responsible for the maintenance of your HVAC both inside your condominium as well as where ever your condensing unit is located. (This could be on the roof or in the garage of the building)

Keeping your HVAC in tip-top shape can help you both in your wallet and with your health! Let’s look at both of these.

Your Wallet

Did you know that 25-40 percent of the energy used for your HVAC is most likely being wasted? WOW! When your system is dirty…meaning that the ductwork or the system itself has not been cleaned or maintained, that it just has to work harder, and last less! And if you have not priced an HVAC replacement, $4000-5000 would be a good place to start. What does a dirty system look like? The photos below show both the coil from one system ( on the left) and the filter we found in a condo on the right. YIKES!!! Can you imagine breathing air that came through THAT?

Your Health?

The HVAC system could be considered the lungs of your home. Your system takes in air, and then sends it back out through the condo. So, if you’ve got a dirty system, or dirty filter….most likely you have dirty air. And that is what you are breathing! YUCK!!

What Can I Do?

Have your HVAC serviced at LEAST once a year. (Single family homes are usually done Spring and Fall, but the system is subject to more dirt from leaves and such, considering the condensing unit is sitting on the ground next to the house.) In a condominium building, the unit is most likely on the roof of the building. So while it will most likely be clean, there are other parts of the system that are affected by being in the beating hot sun every day! Hoses that should have an insulation wrap on them can be deteriorated from the sun. (See the photo on the right)
Change your filter at a minimum every other month. And if it gets dirty, then change it EVERY month! $20 something for a filter is much less than a $500-700 service to clean the system.
If you are purchasing a condominium, be sure to look at the Seller’s Property Disclosure Statement to see what the age of the system is. While older systems can last much longer, they certainly are not very efficient. And if it’s a REALLY old system, it could potentially fail at anytime. Take this into consideration in your purchase price, or consider getting a home warranty, either paid for by the Seller or buy one yourself. It can be worth its weight in gold if your system should fail and you need to replace it.

Who Should Do This Service?

Certainly, a licensed HVAC technician!!! Working for a licensed company. In most condo buildings, the Concierge will have a list of vendors that have worked in your building in the past and do a good job. They will also have their license and insurance already on file with the HOA. This is required in case there is any damage or anything happens during a repair, or installation.

It does not take much to maintain your HVAC in your condo. But when you ask Who Is Responsible for the HVAC Ductwork in My Condo….just remember it’s YOUR responsibility!