It was a quiet month at 805 Peachtree….
NO ACTIVE LISTINGS
PENDING LISTINGS (UNDER CONTRACT) (4)
NO SOLD LISTINGS
2012 SALES ACTIVITY COMPARISON
In a former life, I was a busy executive that traveled. I also worked in the hotel industry for many years, and just like real estate, it was about location, location, location! While there are numerous hotels in the Midtown Atlanta area, if you are here for business with GATech, the the Georgia Tech Hotel and Conference Center IS the place to stay!
This new building is located on the corner of Spring and 5th Streets in Technology Square. The Midtown MARTA station is about 3 blocks from the hotel, making it easy to reach campus from Hartsfield Jackson Atlanta International Airport and not need a car!
Featuring 252 rooms, the hotel offers several room types and suites. Wireless high speed internet is available in the guest rooms and public areas of the hotel. Rooms also feature 37″ flat screen tv’s, iron, ironing board, hair dryers and in room coffee makers.
If you are a Georgia Tech parent coming for a campus visit, this certainly is the place to stay!
Georgia Tech Hotel and Conference Center at GATech University in Midtown Atlanta!
Well, I’m here to tell you (unless there is something I don’t know about…) unfortunately….NO!
Every day, I’m asked through various channels about the prices of real estate in Midtown Atlanta. “What’s the market like?” Are prices going up?” “I’m thinking I’ll wait another year to buy.”
Well, wait you may, but pay more you will. Can I Buy A Midtown Atlanta Condo for Under $100,000?
I just did a search on the MLS, and found 1, 2, 3. That’s it. THREE condos for sale under $100,000. Have the prices gone up?
Let’s have a look at a Midtown condo building, popular with parents of students attending Georgia Tech, just to see what has happened… Cornerstone Village.
2010 6 Homes Sold Under $100,000
2011 20 Homes Sold Under $100,000
2012 12 Homes Sold Under $100,000
2013 6 Homes Sold Under $100,000
So, what do YOU think is happening to the prices, especially in THIS Midtown building? They are moving on up!
If you were looking for that deal, you just may have missed it!!
I’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!!!
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.
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?
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.
While 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.
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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The 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
