Real Estate Tips Archives

Midtown Atlanta Condos For Sale |But Are They Really?

April 22, 2014 by Thom Abbott

As a real estate broker and blogger, I most often like to write my own content. If you know me, you can pretty quickly tell a lot about me just from my writing style. I tell it like it is, but all too often in a nice way. (That’s my hospitality training that has been embedded into me!) But not the reason for this post!

As a Midtown Atlanta condo buyer, you are looking for one thing… Midtown Atlanta Condos For Sale. Right? Now you have your specific wants and needs, but overall, when you come to MyMidtownMojo.com or our totally rock it out new search site, your primary goal is to see WHAT Midtown Atlanta Condos are For Sale. Right?

So why is it when you venture off (what did your Mother tell you about not taking the sidewalk on the way to school) to one of those Big Guys sites, you find these condos, but then, when you call me, I either can’t find the same listing…or it’s not really For Sale.

Click on over to The Internet is For Sellers and Real Estate Agents, Not Buyers!

I could not say it better myself if I tried.

Selling Midtown Atlanta Condos |No Sign, No Lockbox, Appointment Only

February 14, 2014 by Thom Abbott

You’ve made the decision to sell your Midtown Atlanta Condo. Awesome!

But, are you making it EASY to sell your Midtown Atlanta Condo?

Did you ask your Listing Agent that you do not want to have a lockbox at the Concierge Desk or on the door?

Did you ask your Listing Agent that all showings be by Appointment Only?

When you make the decision to sell your Midtown Atlanta Condo, you have to consider…you will need the condo to have showings to get an offer, have a contract and SELL! And you want to make that first part of that equation….showings….as easy as possible.

I always counsel my Sellers that you need to keep the place picked up and clean….all-the-time when you are For Sale! I know that’s hard, but put the hair dryer away in the morning, make the bed and wash your breakfast dishes or put them in the dishwasher! While Buyers Agents will try (sometimes) to follow instructions, sometimes the Buyers just found your listing and they want to see it….NOW! And we need to make that as easy as possible.

Understandably, if you have children or pets, special arrangements have to be made. But in those early days of listing your Midtown Atlanta condo for sale, is when the critical and perhaps best showings happen. And you don’t want to miss that opportunity!

No Sign — is really no problem in a condominium since they are not allowed in most places. If you do happen to be selling a single family home, that sign could be one of the keys that helps sell your home. A potential buyer could be driving the neighborhood, and somehow in their Internet search, missed your home. That sign could spur a showing call.

No Lockbox — This modern convenience HELPS sell your home! Licensed real estate agents have keys to open these boxes. It gives your agent a record of who looked at your home, and when. Now, in a condo, it’s possible to leave a key release with the Concierge. But again, the important contact information from the showing agent can be missing. Let’s say you make a price change after being on the market for a few days….your Listing Agent can quickly send a direct email to all the past agents that showed your home by getting that information from the lockbox readings.

Appointment Only — This goes back to having your home picked up and clean every day while you are on the market to sell. You should really only consider Appointment only if you have some special circumstance like pets and children. Agents jsut might pass over showing your home or condo if you make it a challenge.

Selling Your Midtown Atlanta Condo. No Sign, No Lockbox, Appointment Only. All things to seriously think about.

47 Skills You Need to Survive Homeownership | This Old House

October 17, 2013 by Thom Abbott

Whether you have just purchased your Midtown Atlanta Condo or home, or you’ve been a homeowner for years, a home or condo simply does not operate on auto pilot. You need Skills to Survive Homeownership!

Especially if you live in a condo, you often think there is nothing to maintain….that “auto pilot” idea again! Nothing could be further from the truth. Take your dryer duct work as an example. Look at where your dryer is located in your condo. Now, where does the vent exhaust? Certainly someplace on the outside of the building, and it could be your balcony. Those lo-o-o-o-ong dryer vents can eventually get some lint and such built up in them from the dryer. Ever thought about having it cleaned? I thought not.

I found this article at MyOldHouse.com that lists some 47 “skills” you need as a home owner. Now, not all of them are going to apply to a condominium, but most of them will. And some of these skills could help you save some money when you call a professional to fix the problem.

47 Skills You Need to Survive Homeownership!

Read, learn, and enjoy!

Buyer Tips For Midtown Atlanta Real Estate

September 27, 2013 by Thom Abbott

CONGRATULATIONS!

You’ve made the decision to become a home owner! Believe me….I know the anxiety and the emotions you are feeling. Not only have I purchased and sold several of my own homes, but I work daily with people just like you! I’m here to help you every step of the way.

These Buyer Tips For Midtown Atlanta Real Estate are about some of the steps you should take to protect yourself during the home buying process. These steps are not really about the process, but just some things to keep in mind as you purchase your home or condominium. You can learn more about the buying process by reviewing and reading our Intown Atlanta Real Estate Buyer’s Guide.

Reading and Keeping Copies of EVERYTHING!

The real estate or home buying process is not with out a few sheets of paper. Seriously! While you will have gone through some of the paper process with your loan application, the next big document will be the Purchase and Sale Agreement. Now, this won’t be a strange document to you when you work with me. At our first initial consultation, I’ll have given you a blank copy of every document related to the purchase so you’ve had a chance to look them over and know what they are about.

The Purchase and Sale Agreement is a legally binding contract that obligates you to complete the purchase of the home or condo we’ve found! There will be various timelines (or deadlines) established by this contract, and I’ll be right alongside you to help make sure we meet each and everyone of them. Critical deadlines are your Due Diligence Period (when we will do your inspection) and your Appraisal and Financing Contingencies.

Home Inspection

Speaking of Due Diligence and inspections….you should ALWAYS have the home or condo you are buying inspected by a professional home inspector. (We have two great recommendations on Our Team Page here. While a condo may have less issues to address, most homes have at least a few item that me need to be repaired, or even replaced.

A home inspector will do a detailed inspection of the systems such as plumbing, electrical and appliances. This is mostly all you can check in a condo. In a single family home however, there are more things to look at like the roof, gutters and foundation and a basement, if there is one.

Once the inspection is completed, we will receive a report that we can review and determine which items we want to request be repaired. This is somewhat of a “second negotiation” after you are already Under Contract. It can be one of the times that your home purchase can be derailed if the Seller is unwilling to make repairs (if they are significant enough) or make any concession in the agreed upon price of the home.

The Neighborhood

When you are searching for a home or condominium, the neighborhood, or location is every bit as important as the home itself. You should take time to familiarize yourself with the area.

Are you moving from a quite suburban home with a yard to a high rise condo in Midtown Atlanta? Well, you might see that there is a difference in the noise levels of outside activity you hear. Just because you bought on the 27th floor, does not mean that you won’t hear cars or emergency vehicles. If you sleep with your balcony doors open (when the weather is cool!) you are certain to hear even voices from the street.

You want to look for both the desirable and undesirable conditions. Will you find the “perfect” place? Probably not…but we will get really darn close! There might be a Publix Market on the ground floor of Plaza Midtown, but if your view includes the Downtown Connector, this might not be what you are looking for. If there are vacant lots in the vicinity of the building you are looking in, you can do further research via local planning authorities as to what (an how high it could be that would affect your view) can be built there.

You should also consider purchasing a Home Warranty. Often times this can be negotiated to be paid for by the Seller of the property. If not, you may want to consider purchasing one on your own. They don’t cover everything, and often times have many exclusions, but can be worth it. They can cost up to $575 per year, but the cost of replacing a hot water heater can be more than that.

If you have other questions about the home buying process, just ask me! I’m here to help you make the biggest purchase of your life one of the easiest!!

FHA Assumable Mortgage – The Seller’s New Marketing Tool

September 22, 2013 by Thom Abbott

See on Scoop.it – Midtown Atlanta Conversations and Condos

Mortgages from the F.H.A. and Department of Veterans Affairs have a little-known feature: assumability.

Thom Abbott‘s insight:

Homeowners with a mortgage insured by the Federal Housing Administration or the Department of Veterans Affairs should consider using their loan terms as a marketing tool when it comes time to sell. The FHA assumable mortgage may be the best marketing tool for the Seller!

Mortgage loans from both government agencies include a little-known feature known as assumability. In other words, the buyer of a home financed with an existing F.H.A. or V.A. loan may be able to take over, or assume, the seller’s loan, under the same terms, rather than take out a new mortgage.

During periods when interest rates are rising, homes offered for sale with an assumable, lower-rate mortgage may have extra appeal for certain buyers.

See on www.nytimes.com

Mom and Dad, Let’s Talk Real Estate — Real Estate Planning

June 30, 2013 by Thom Abbott

I often work with parents of college students who purchase a Midtown Atlanta condo for their son or daughter to live in while attending Georgia Tech. But this article is about a different conversation with Mom and Dad and real estate. It’s about real estate planning and estate planning when it comes to what to do with the family home, or other real estate assets.

This conversation is near and dear to my heart…I just went through it with my Mom (my Dad passed away in 1994) when I was home in Montana a couple weeks ago. We had a family meeting to discuss what remains of our family ranch and such. It was a good meeting (well, it at least got somethings out on the table that some of my family did not know about.)

And then today, the New York Times had an article of the same title. How true it is…the need to talk about family assets and what to do with them…be it sell them, deed them, etc.

They might want to raise cash to pay for possible medical expenses down the line or to reduce assets so a parent needing health aides or nursing-home care will be eligible for Medicaid. They might be eyeing the apartment for their own use.

How do children nudge often-reluctant parents toward making sound and fiscally smart decisions about the future of the family home? How can assets be protected while keeping a roof over the parents’ head? What are the main issues that need to be kept in mind as planning goes forward? How do children, or in their absence, other close relatives, begin the difficult and sometimes painful conversations needed to resolve these issues? In the case of apartments that have sharply escalated in value, how do you guide parents unused to dealing with large sums of money?

Here is a link to the rest of the article in the NYTimes.

Do you need to have a family meeting and discuss the future of your parents? Mom and Dad, let’s talk real estate.

47 Skills You Need to Survive Homeownership!

CONGRATULATIONS!

Reading and Keeping Copies of EVERYTHING!

Home Inspection

The Neighborhood

HomeSmart