Atlanta Condos For Sale

What a Atlanta GA Home Buyer Needs To Know

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Buying a home or condominium in Atlanta GA is not something you should do without knowledge and research. With today’s technology, you can do much of that on your own. But…..BUYER BEWARE!!! There is a lot of information out there, and how do you know what’s right, or maybe wrong? You could even think that when reading this post! 

What a Atlanta GA Home Buyer Needs To Know

Atlanta Real Estate MarketWhile you can do this “self-research” I’d strongly suggest you find a real estate agent early in your process. I often start “working” with potential buyers months before they actually make a home purchase. I help them in their research about the home buying process, including meeting with a lender, identifying potential neighborhoods or condominium buildings. 

Here are just a few things or tips to keep in mind as you start the home buying process!

  1. In most cases, a home is the largest asset an individual will have, and is considered one of the safest investments.
  2. Property taxes and qualified home loan interest are deductible on an individual’s federal income tax return.
  3. A homeowner can exclude up to $500,000 of capital gains if married and filing jointly, or up to $250,000 if single or married and filing separately. The home must have been the taxpayer’s principal residence for the previous two years. **
  4. A portion of your monthly mortgage payment is applied to the principal…consider this a monthly investment!
  5. You can live in and enjoy your home as an investment..you can’t do that with a mutual fund!
  6. I can show you ANY home listed you find, whether with another real estate company. Even new home construction that you may see when you drive by a new community. Remember, in each of these cases, the SELLER has someone representing them…and you should have someone representing YOU!
  7. Having been pre-approved with a lender will help you know how much house you can purchase and also help in negotiations with a Seller. Having the Seller know you have your mortgage process underway is a great tool in a demanding Seller’s Market.
  8. You have a right to conduct a home/condo inspection as part of your Purchase and Sale Agreement. This gives you the ability to negotiate repairs or compensation once you know all the facts about the property. (In condominiums, this can also be a time for you to review condo docs and budgets to know more about the building)
  9. A Home Protection Plan can offer you “piece of mind” coverage for select items like appliances, central heat/air and water heaters. If the Seller does not provide this during the negotiation process, you can purchase this coverage on your own. (Of course we can help you with various sources!)
  10. In a “Seller’s Market” don’t be looking for “the deal.” Remember, that Seller has an agent working for them, and hopefully they have priced the home accordingly. (Not always the case!) Focus on finding the right home, within your budget, and then let your real estate agent help negotiate the best terms and price. 

Whether you are ready to buy a home in the next 30 days, or the next 3 months, we are here to help you through the process, from beginning to your Celebration Day when you get the keys to your new home! And we will be here long after to answer any questions, or help your family or friends when they are ready to Buy or Sell! 

Check out our Intown Atlanta Buyer’s Guide for more information! And you can always contact me via email at Thom@MyMidtownMojo.com….by phone or text at 770.713.1505 or with the contact form below. Let’s set a time to meet and I can help YOU with What a Atlanta GA Home Buyer Needs to Know! 

Atlanta Georgia Real Estate

Thom Abbott, Associate Broker

Thomas Ramon Realty @ Palmer House Properties

2911 Piedmont Road, Suite B

Atlanta, GA 30305

Direct: 770.713.1505

Office: 404.876.4901

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Is Condo Living Maintenance Free?

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As I work with Buyers everyday, one question often comes up when looking at condominiums….Is Condo Living Maintenance Free?  Well yes….sort of. 

What Do You Have to Maintain in a Condominium?

Living in a condominium gives you freedom from most outside work associated with a single family home. In other words, no lawn mowing, trimming the shrubs, pressure washing the driveway and such. You also don’t have to worry about the roof since it is on the of the building, and most likely NOT on top of your particular condo (unless you DO live on the top floor) but it still is a responsibility of the home owner’s association. (HOA)

But most of the systems that service your condominium are your responsibility. What are these key systems?

Heating and Air Conditioning System 

Is Condo Living Maintenance FreeNewer buildings will have self-contained systems located in your utility closet INSIDE your condo. But most buildings you will have a separate heat-pump or condensing unit. And there is a good chance it is on the roof of the building. You are responsible for the maintenance and operation of this system. Yes, even with your unit on the roof, you have to maintain that. I often find (mainly during a home inspection when working with a Buyer) that the unit on the roof has seen very little attention. While they should not get very dirty with little exposure to dirt, the insulation that wraps the lines is most often found in the condition you see in the photo on the left. And it’s almost always an issue I ask to have addressed by the Seller. (If they have not paid attention to THIS, they have most likely NOT had the HVAC system serviced anytime recently. 

Condo maintenance tipsAnd I’ve had the extreme the other way on the INSIDE of a condo. I took over a unit that had been rented and helped an out-of-town seller get the place ready to sell. It was dirty beyond dirty could BE dirty. The photo on the right is the fan from inside the air handler in the condo. It’s amazing the unit could even operate! 

Hot Water Heater

Again, when working with Buyer’s, we keep an eye on the age of systems. ( I might note the new Seller’s Disclosure Statement DOES NOT have a blank for the Seller to enter the age of the hot water heater!) Hot water heaters can last a long time….but…10 years is their normal life span….and that is when they are “maintained.” Did you know that you should drain your hot water heater and refill it? Once a year? Who has a garden hose in a condo, right? So this service is never done, and can lead to a shorter life span! And replacing a hot water heater is no cheap trick! So, if you live in a building that is 10 years old….or older, you might want to be on the lookout for a request to pay for a home warranty for the Buyer. 

Plumbing

Condo Living Maintenance FreeThis should be pretty easy, right? Hmmm. I’ve had a rental condo where a tenant did not realize the kitchen sink was leaking until it FINALLY went through the ceiling into the condo below. Not to mention the damage to the kitchen cabinet under the sink, AND the hardwood floors. Moral of that story…look under your kitchen (AND BATHROOM(s) sink every month. Takes you but 5 minutes to make sure all is well, versus hundreds or even thousands of dollars in damage. And make sure if you are ever having any renovations done, that the contractor is insured, the plans have been approved by the Architectural Review Board and you have insurance as well. A water “event” in a condo building is a serious matter!

Appliances 

Washer, Dryer, Stove, Dishwasher, Refrigerator, Microwave….these are ALL inside your condominium, and are YOUR responsibility. A leaky connection on a washer can be hard to find in some of the tight laundry closets in most condos, so just keep an eye open. Same goes for a dishwasher that may leak. And a word to the wise….never leave your condo and leave a washer or dishwasher running unattended!!! 

Is Condo Living Maintenance Free? So you don’t have a basement, or a garage or all that stuff to worry about. And most of this stuff is pretty simple and easy. Just have an annual maintenance contract on your HVAC, and consider a home warranty that will help defray the costs of repairs/replacement of the other items! 

Is Your Tax Return the Ticket to a New Home?

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Well, tax day has come and gone! April 15th is but a miserable memory as you completed your Federal (and maybe a State) tax return. If you had to pay it was pretty depressing…I know! But, if you have a refund headed your way, stop before you plan that vacation or trade in that 2-year old car for a new one! 

Is Your Tax Return the Ticket to a New Home?

Save Your Tax Return to Buy a New HomeGo Banking Rates recently surveyed American’s and asked them what they planned to DO with their refund?

  • 41% — Save It!
  • 38% –Pay off Debt
  • 11% — Go on a Vacation
  •  5% — Major Purchase (Car, home)
  •  5% — Splurge on some other purchase

But wait? Save it yes…but it might just be the push you need for the down payment you have been saving for!

Depending on the size of your refund, the type of home you want to buy, and where you live, a good tax refund just might be the down payment you NEED!

If you are in that 41% that is saving it….maybe you are just not ready to purchase, or want to have a bigger nest egg to rely on. I totally understand that. But you are headed in the right direction, and I’m here to help you when it’s time to begin the search!

If you think about it…in 2016 the average down payment for first-time home buyers was 6%, that tax refund might be a big start on what you need to get into that new home or condo you have been dreaming about! 

What’s YOUR tax return plan? 

Is Your Tax Return the Ticket to a New Home?

Planning to Age in Place? What to Look for in a House

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What to look for in a house if you plan to age in place
That tub might not work so well later!

Depending on your age, this may not be a topic at the front of your mind, but have you ever considered Planning to Age in Place? What to Look for in a House is very important! 

And if not you, maybe for your parents? Perhaps they are considering downsizing, and a frank discussion about what their next home should be, or not be, could be important! 

Things like types of flooring, or a no-threshold shower for easy access, outdoor space with no stairs or a convenient laundry room….all of these are things you just may not think of. 

Back in 2004, my Mother lost our family home to a fire. It was devastating to say the least. While she was younger, we had already had conversations about how she would be able to stay in the house on our family ranch. It had multiple levels, washer/dryer in an older basement with a crazy staircase down there, not to mention in the winter months (Montana) the snow would at times require she hire someone to plow open her road. Anyways, she ended up building a new home in town, and my brother-in-law brought some of these exact issues up. So, her house was “sunk down” so there are no major steps. (Well there is a slight step into the garage that is now challenging for her base on current conditions) Also, she has a walk-in shower instead of a bathtub in the master bedroom. And the garage has a large store room that helps her store things and acts like a pantry as well. 

But thankfully, because there was so much happening at the time, she would have never thought of these things without the help of a family member. 

Here’s a great article about What to Look for in a House if You Plan to Age in Place! 

 

Spring Has Sprung and So Has the Spring Buying Season!

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Spring Has Sprung Spring Buying Season

Spring has Sprung with the Spring Buying Season!

It would seem based on this week’s weather forecast we could have a couple nights dip into the upper 30’s, but otherwise, Spring has Sprung! Things are bloomin’ and the lovely pollen is out and about.

You know what else is out and about? Buyers! And Lots of them! We are working with several clients at the moment, some are quickly finding (and getting) what they want, and others…well, we are still on the hunt! We’ve missed out on a couple opportunities and these Buyer’s have quickly learned they have to “up their game” a bit. What exactly does that mean?

Have a Lender Pre-Approval!

Never fear, all of our Buyers have been pre-approved with a lender! But if you happen to be reading this as a Buyer looking to get into the Spring real estate market, get your mortgage pre-approval from your lender BEFORE you step out the door!! With limited inventory, you are going to be competing with other Buyers, and you want that approval letter in your toolbox! 

Now is Not a “Low Ball Market!”

I’m here to help my Buyers (and YOU) get the home or condo you are looking for. And when we are making an offer, I am working with my Buyers to educate them about the market. I’ve done the research, and if the home is NOT overpriced, it may be priced JUST RIGHT! What does that mean? It means making a FULL PRICE OFFER is the right buying decision! Don’t be playing the, “oh, let’s see if they will take ‘x’ for it” and you then lose out over another offer that was right on the money. 

Focus on the Big Things on Your Inspection

Unless you are buying a brand new home, your home inspection is probably going to show some things that need attention on the home you are Under Contract to purchase. But, let’s focus on the Big Things! Maybe the HVAC is way past it’s lifetime, and you could be faced with a major repair. That’s worthy of talking about the price of the home, or other options. But when a door does not close properly, that’s something you can deal with at anytime. I’ve had a Buyer lose a home over some little things like this…and now they regret it….they really wanted that home, and just knew the Seller was going to fix ALL those little things. When the Seller said NO, the Buyers said NO, and it was over. Well, they thought the Seller would call their bluff….and they didn’t…and took a back up offer. And we were out. Over little stuff. 

It’s the Spring Buying Season! Let’s get our game plan together and get you the home or condo you are looking for! 

 

Choosing the Right Atlanta Neighborhood

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Whether you are moving across Atlanta, or coming across country, you have a big decision to make. Single, or married or married with kids….one decision you have is choosing the right Atlanta Neighborhood!

What Should I Consider when Choosing a Neighborhood?

Search Atlanta NeighborhoodsOf course, the answer to this question is not a one size fits all! What is important to you will play a major role in where you decide to live in Atlanta. Schools? Walkability? Style of type of house? House or condo? Commute to work? Hospitals? Hmmm. 

Schools

While I personally don’t have children, I understand that schools are important. HEY…they are important even if you DON’T have kids, as quality schools can have a huge impact on property values. I’m happy to help you with resources for school information, but again, what may be important to you and your kids may differ from any website I may offer you. We can always talk and look for resources together. 

Walkability

Much of Atlanta’s mobility is very, very dependent on four wheels! As such, we have traffic and we have commuting issues (see below). But maybe you want to live someplace where you can easily walk to restaurants or retail without the aid of your car. It’s certainly possible in Atlanta, but the type of housing you may want might not match with the walkability. Areas like Midtown Atlanta offer the most walkability, but much of the housing is in the form of condominiums. There is Historic Midtown with single family homes, but they may not be they type of home you are looking for. There are other “pockets” or areas to look at. Decatur, Chamblee, parts of Brookhaven, and others are out there that will offer some walkability. We just have to look at your wants and needs and find that right spot!

Choosing an Atlanta NeighborhoodStyle of House — Condo, Single Family or Townhome

Again, many choices here. And that is where your lifestyle comes in, and what we will talk about during our Initial Consultation. We look at your wants and needs, and they help identify the neighborhoods, or buildings that meet what you are looking for! And we might even point out things you did not think of!

Commute To Work

Yeah…this is a biggie when you look at Atlanta. If you telecommute…awesome! You have lots of options! But where you live and where you work could have a big impact on your quality of life if you spend to much time behind the wheel! Our sister website, MyAtlantaMojo.com has a cool Commute feature in the Search function. Look at a specific listing, and then you can calculate the time it will take you to get to work. It’s pretty cool!

Hospitals or Medical Services

Maybe you are relocating to the Atlanta area to be close to your adult children and their families. But you might want to be closer to doctors or hospitals as you age in place. These are other factors we can look at to decide what neighborhood is right for you!

We are here to help you sell your home and buy the next one. If you found this blog post, and are moving from another city, maybe you have not found a real estate agent to help you there? We can even help with that!! We have a vast network of agents that we know and trust all across the country. Whether it’s Los Angeles or Little Rock, we can help! 

We look forward to meeting you and getting to know you!

 

 

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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