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Last updated by Thom Abbott at July 9, 2018.

Citizens For Progressive Transit – July 2018 Newsletter

July 9, 2018 by Thom Abbott Leave a Comment

Somewhere, somehow, I stumbled upon this organization and their monthly newsletter.

Citizens For Progressive Transit

…their website seems to be a tad behind…I’m sharing the July, 2018 newsletter with you here, and the website has April, 2018…so the best way to keep up with them would be to subscribe to receive the newsletter. But the highlights of July are:

Marta Takes Over Atlanta Street Car –$1 Fare Continues

The Atlanta Streetcar was turned over to MARTA on July 1. But they opted to keep the $1 fare, which has been blamed for the dramatic drop in ridership. It should probably be included in your regular MARTA fare, and you could transfer to the Streetcar.

I’ll give Atlanta credit for trying, in getting the Streetcar started. (You remember the plans called for it to run from Downtown to Buckhead on Peachtree Street, but the funding was not there, along with some lack of interest, challenges with it being on Peachtree, etc, etc.) But, to go from Centennial Olympic Park to the King Center….not much service there.

ARC Grants to Expand Suburban Bus Service

Douglas County (that’s way out West for us In-Town folks) will get its first fixed-route bus service, and Cobb and Gwinnett will get to expand, due to new federal funding by the ARC.

Bond Money to Go For GA 400 Bus Service

Gov. Deal announced that recently approved bonds to raise $100M will be used in North Fulton County to facilitate MARTA bus service along GA400.

A Faster Path to Regional Rail (THIS one caught my eye big time!)

We’ve talked about regional passenger rail. And talked. And studied. And talked and studied…..but nothing. Yet North Carolina has launched a fourth daily round-trip on its state-funded Amtrak line, running from Charlotte to Raleigh. The three round trips carried 427,000 people last year. HELLO GEORGIA? It’s the 21st Century…and we can’t keep widening roads or adding cars.

This is why I love reading the Citizens For Progressive Transit newsletter….it keeps me informed.

You can read the entire newsletter here.

You can JOIN CFPT, and subscribe to the newsletter HERE.

Thom Abbott

I'm a real estate broker living and selling the City lifestyle of Intown Atlanta Communities. From the high rise condominiums of Midtown and Buckhead to the bungalows and traditional homes of Chamblee, Brookhaven and Doraville, I enjoy introducing people to parts of Atlanta and everything they have to offer. I'll help you find the right home in any of these or other exciting Intown Atlanta communities that border Midtown Atlanta and The Gold Line!!

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MyMidtownMojo Makes for a Happy Seller

July 6, 2018 by Thom Abbott Leave a Comment

Just as important as it is to find the right agent when you BUY a Midtown Atlanta condominium, so is it true that you need to have the right person to help you SELL!

Often times we hear of Sellers that choose to work with “well my wife’s co-worker’s husband is a real estate agent” or “there is this girl in our church that we feel we need to help” and while that may sound all fine and well on the outside, you have to know who you choose will get your condo sold…and know the right things to do, at the right time. Or have the right connection.

In working with Jacob, at the last minute, the Buyer’s lender requested a document that really none of us had ever had requested. When I reached out to the HOA of the building, they questioned why the lender need the said document. But, my relationship with the HOA helped us get it to the lender, and keep the closing on track! Whew…..disaster averted! One has to wonder if the “girl in our church” would of had that relationship to help get through a tight spot.

We had the pleasure of working with Jacob when he first moved to Atlanta from Boston in 2016. He found MyMidtownMojo.com and knew he wanted to live in Midtown Atlanta. His job in the medical field required extensive traveling, and the access to MARTA was also a major plus for him. He also had a unique requirement to find a condo home that would accommodate a family heirloom…a pool table that belonged to his father. Not all condos meet that requirement, but we found him the perfect space at Spire Midtown.

Fast forward a short two years to 2018, and a company promotion sent Jacob to Tampa. We again helped him sell his Midtown condo, at a great price, and Under Contract after just 6 days on the market!!

“Thom was great, his local knowledge helped me quickly find what I was looking for to buy, as well as sell a couple years later! When inventory is low, you need someone who will be responsive and timely to act on the market.”

Thanks for allowing us to help you Jacob!!

If you’d like to read more great reviews about our work with both Buyers and Sellers, please visit our Testimonial Page!

And we are ready to help YOU have an incredible real estate experience!

Thom Abbott

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How’s The Atlanta Real Estate Market?

June 15, 2018 by Thom Abbott Leave a Comment

How’s The Atlanta Real Estate Market?

I wanted to share some information regarding the Atlanta real estate market from the recent Case-Shiller Real Estate Report.

The entry-level market has strong demand and very low inventory. There are many multiple offers and values rose faster than other segments.
The luxury market is a buyer’s market with buyers negotiating better pricing and terms.

Mortgage rates are rising slowly which will impact affordability. Metro Atlanta continues to be very affordable relative to other metro areas around the country.

May pending contracts were up .6% from April and up 8.6% from the prior year. May closings were up 11.7% from April and down 1.3% from the prior year.
Year-to-date pending sales units were up 6.5% versus the prior year. Year-to-date closings were up 2.8% versus the prior year.

The Average Sales Price for May was $322,000 – up 3.2% from April and up 6.6% from last year. 2018 is on track to be the highest annual ASP on record.

Inventory for May was up 5.3% from April and down 8.8% from last year.

Overall Months of Supply for May was 2.4 months. Six months is considered normal. Luxury properties took longer with homes above $1 million averaging 10 months and properties over $2 million averaging 16 months to close. The luxury market remains a buyer’s market in many areas.

The Average List-to-Sale Price Ratio was 97% for all price points. Many properties in high-demand areas are selling above list.

The latest Case-Shiller Index for Atlanta (5/29/18) was up .8% compared to the previous month. Metro Atlanta home values are up 73% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.

I always, repeat, ALWAYS tell my clients, whether you are a Buyer or a Seller, that the real estate market will be different for you depending on your real estate plan. Are you looking to refinance? Are you looking to purchase an investment property? We look at your specific real estate needs and goals, and then we talk about the market and what will work best for you. This, coupled with a great lender from our Team Lenders, and we will all work together to make your real estate experience a great one!

Let’s sit down over coffee (or an adult beverage) and talk about location, location, location…and how important that is in real estate.

Thom Abbott

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Brookhaven Innovation Academy Unveils New Campus

May 29, 2018 by Thom Abbott Leave a Comment

It was a while back when we probably posted on our Facebook Page, Chamblee Homes and Lifestyles, that the Brookhaven Innovation Academy had purchased property on Shallowford Road, in Chamblee for a new school. The public charter school, founded by the City of Brookhaven in 2016, has rolled out some impressive “first looks” at the new, permanent campus.

Brookhaven Innovation Academy Unveils New Campus Renderings

Located at 3031 Shallowford Road in Chamblee, the school has the potential to have upwards of 540 students. Located on 2.5 acres, the campus would consist of a 71,300-square-foot, 2-story building that would contain academic, administrative, enrichment, maintenance, and multipurpose space along with a media center, student dining …and…a center for exceptional children. That’s a lot going on in that building! Whew!

Here are a couple other renderings:

The location of the school is very close to St. Pius X Catholic High School. It’s a distance between traffic lights at Dresden Drive and the I-85 Access Road. We did not dive into the plans to see what plans there are, but did see mention about turning lanes. We’ll have to see how this all progresses. Here’s the map location of the school:

If you are looking to live close to, or closer to the school location, we’d be happy to help you with your home search. Just contact us and so we can learn about your new home needs, and find the right place for you in Chamblee OR Brookhaven!

You can Search Brookhaven Homes For Sale HERE

You can Learn More About Chamblee HERE

Thom Abbott

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Embassy Suites Atlantic Station Moves Forward

May 23, 2018 by Thom Abbott Leave a Comment

Once upon a time, lodging options in the Midtown area were pretty sparse. You either went luxury or almost nothing else. Fast forward to 2018, and you have numerous hotels to choose from, and several new options on the horizon. Embassy Suites Atlantic Station will be one of those new options.

Embassy Suites Atlantic Station Moves Forward

Horizon Hospitality Management has filed a permit application with the City of Atlanta for a 10-story high rise building, next to The Atlantic Condominiums at 200 17th Street. The photo to the right shows what I think will be the location of the property, based on the renderings provided in an article at WhatnowAtlanta.com. There is a possibility the site could be next to the tennis courts that are alongside The Atlantic.

Details mention 175 rooms taking up some 145,020 square feet and potentially a “high end steakhouse” fronting 17th Street. Hmmmm…steak. Designed by Mike Clifford of the Atlanta-based firm of LPBC, the project could break ground later this year and be ready for guests by 2020. (Remember, 2000 and we thought how is that possible, and now we are talking about 2020!!!!)

While North of the campus, this hotel would be another option for guests and parents visiting Georgia Tech.

Below is a rending of the proposed Embassy Suites Atlantic Station, as well as a couple site photos I snapped today. We’ll be keeping an eye on this one!

Currently, the only other hotel at Atlantic Station is the Twelve Hotel.

Thom Abbott

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Citizens For Progressive Transit – July 2018 Newsletter

Citizens For Progressive Transit

Thom Abbott

MyMidtownMojo Makes for a Happy Seller

Thom Abbott

How’s The Atlanta Real Estate Market?

How’s The Atlanta Real Estate Market?

Thom Abbott

Brookhaven Innovation Academy Unveils New Campus

Brookhaven Innovation Academy Unveils New Campus Renderings

You can Search Brookhaven Homes For Sale HERE

You can Learn More About Chamblee HERE

Thom Abbott

Embassy Suites Atlantic Station Moves Forward

Embassy Suites Atlantic Station Moves Forward

Thom Abbott

Monthly Debt and Obligations Should Include:

Thom Abbott

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