Atlanta Condos For Sale

Midtown Atlanta Condos For Sale Under $250,000

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Midtown Atlanta Condos For Sale Under $250,000

Atlanta Condo Prices Rise 23 Percent
Midtown Atlanta Skyline

Once upon a time, in a real estate market far, far away, I used to write about condos For Sale under $100,000. Times and prices in Midtown Atlanta, they have changed. And along comes Midtown Atlanta Condos For Sale Under $250,000!!

Midtown condo buildings that once had one-bedrooms for sale at $50-60,000 are now selling for $125,000. High-rise 2 bedrooms that could be had for $191,000 in 2010 sold in 2013 for $305,000 and are now pushing $350,000. (The  $191,000 example originally sold for over $300,000!)

I’m always asked about future value when a Buyer is looking to buy a condo. Of course, I don’t have a crystal ball! (And if somebody DID have one we would not have gone through what we did in 2009-2010 as you can see in the prices above.) Probably the big elephant in the room is future construction. There are numerous apartment buildings that are either recently opened, under construction or proposed! If, and when any of these buildings would make a conversion from apartments to condominiums (and how many of them at the same time…a distinct possibility) could have an impact on resale values of the condo you purchase. Then again, if the prices in these new buildings are significantly higher (and all indications are that they would be) then your values will hopefully be equal or better than what you paid.

But the key point here is, prices are NOT going down. In fact, the Midtown condo market is on fire, and homes that are priced right move quickly. Sellers are trying to push the envelope and ask higher prices, but the final price, unfortunately is going to be determined by what the condo will appraise for, and what your lender is going to be willing to loan for.

When you see a 2 bedroom sold on the 18th floor for $325,000, and a new listing on the 14th floor for $370,000, you have to wonder what the Seller may be thinking? I’m certainly going to be questioning whether that new listing will appraise anywhere close to the list price!

Midtown Atlanta Condos For Sale Under $250,000

You still have options, but a 2 bedroom may be hard to find!

Selling Your Midtown Atlanta Condo? Don’t Make These Mistakes!

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I would not want to make a statement that the Midtown Atlanta real estate market is “on fire,” but…..it is pretty hot!

Now that we have no new construction condominiums to sell, it is all re-sales. Meaning these condos are owned by…YOU! So, if you are considering making a move, and selling your Midtown Atlanta condo, there will be some demand for your home!

Well, unless you make one of these mistakes….

 

Data provided by ActiveRain.com.

ActiveRain is an online community of real estate professionals who exchange best practices, write real estate blogs, and get free education from the industry and their peers.

Overpricing Your Home! 

When I represent Sellers, I completely understand you want to get the most you possibly can for your Midtown Atlanta condo. But by overpricing it, you will actually drive potential Buyers AWAY from your home. Listen to me and what the market is saying when we price your condo.

Showing Availability

Yes, we all understand you still need to keep living. But, by making it difficult to show your condo, you could lose important showings. If an agent is working with a Buyer and your condo just came on the market, you want that Buyer there. Saying you need 24 hour notice because of Fido….hmmmm. Why not consider doggie day care for the first few days your home is on the market. That is when you will see the most traffic, and making the showing easy is the way to SELL!

De-Clutter and Store IT!

A condo can often times have limited storage space. And if it’s packed to the gills with YOUR stuff, the Buyer can’t see how THEIR stuff will fit, or they may even think, WOW, my stuff WON’T fit in here. We are sliding into Spring and warmer weather….pack up those sweaters!

What’s THAT smell?

Whether it’s the litter box or that Chinese take out….smells don’t sell! Make sure you’ve disposed of the take-out boxes, or cleaned the litter box!

Homeownership survival skillsIf It’s Broke…FIX IT!

If you WANT top dollar for your Midtown Atlanta condo, don’t make it a “project” for the Buyer. Be it the ice maker or the toilet is running, having your condo in tip-top shape will get that offer you want! And quicker too!

Negotiate!

Yes, I know you LOVE that washer and dryer. But maybe that should be the “ace up your sleeve” when you are negotiating an offer. Maybe by offering to leave it, you may just close the Buyer. Be ready to negotiate on closing costs, a home warranty or the due diligence time period. Make it a win-win for everyone!

Selling Your Midtown Atlanta Condo? Don’t Make These Mistakes!

Sending

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

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lockboxYou’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.

 

Top Ten Midtown Atlanta Condo Buildings for 2013

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Top Selling Midtown Condo BuildingsThe month of January, 2014 has quickly slipped past us! But it’s not to late to take a look back at 2013 and the….

Top Ten Midtown Atlanta Condo Buildings for 2013

Condominium living in Midtown Atlanta is as varied as the very people that occupy them! From high-rise glass towers to historic buildings, you can find something that fits your taste, size and hopefully….budget….when you look for a new home in Midtown!

So what buildings were most popular in terms of number of homes sold? Drum roll please….

10. Tuscany Condominiums — Juniper Street (21 Homes Sold)

  • 13 One Bedroom Homes — Average List Price:  $136500 — Average Sold Price:  $125,954
  •  8 Two Bedroom Homes — Average List Price:  $202,975– Average Sold Price:  $192,935

9. Mayfair Renaissance/Mayfair Tower –14th Street ( 28 Homes Sold)

  •  7  One Bedroom Homes — Average List Price:  $141,243 — Average Sold Price:  $136,500
  • 21 Two Bedroom Homes  Average List Price:  $256,979 — Average Sold Price:  $244,619

8.  1280 West — West Peachtree Street (29 Homes Sold)

  • 25 One Bedroom Homes — Average List Price:  $92,733 — Average Sold Price:  $91,716
  •  4 Two Bedroom Homes — Average List Price:  139,975 — Average Sold Price:  $136,250

7. Cornerstone Village — Peachtree at 6th Street (30 Homes Sold)

  • 23 One Bedroom Homes — Average List Price:  $144,285 — Average Sold Price:  $103,686
  •  6 Two Bedroom Homes — Average List Price:  $172,150 — Average Sold Price:  $164,600
  •  1 Three Bedroom Home– Sold at $207,500

6. Plaza Midtown — West Peachtree at Peachtree Place (9th Street) (31 Homes Sold)

  • 16 One Bedroom Homes — Average List Price:  $192,231 — Average Sold Price:  $183,428
  • 14 Two Bedroom Homes– Average List Price:  $340,643 – Average Sold Price:  $321,060
  •  1 Three Bedroom Home — Average List Price:  $750,000- Average Sold Price:  $687,000

5. Spire Midtown — Peachtree at 7th Street (33 Homes Sold)

  • 16 One Bedroom Homes — Average List Price:  $184,808 — Average Sold Price:  $175,181
  • 16 Two Bedroom Homes – Average List Price:  $357,178 — Average Sold Price:  $342,806
  • 1 Three Bedroom (Combined home) Listed at $599,000 and Sold at $500,000

4. Metropolis Midtown — Peachtree at 8th Street (40 Homes Sold)

  • 26 One Bedroom Homes — Average List Price:  $162,031 — Average Sold Price:  $155,045
  • 14 Two Bedroom Homes –  Average List Price:  $339,036 — Average Sold Price:  $322,032

3. Park Central Condominiums – Juniper at 13th Street (43 Homes Sold)

  • 19 One Bedroom Homes — Average List Price:  $147,053 — Average Sold Price:  $143,108
  • 24 Two Bedroom Homes — Average List Price: $218,354 — Average Sold Price:  $208,269

2. Viewpoint Condominiums — Peachtree at 6th Street (44 Homes Sold)

  • 12 One Bedroom Homes — Average List Price:  $217,175 — Average Sold Price:  $208,662
  • 32 Two Bedroom Homes – Average List Price:  $452,147 — Average Sold Price:  $325,969

And, for the second year in a row, the Number One Selling Midtown Atlanta condominium building is…

1010 Midtown Condominiums (73 Homes Sold)

It is first only fair to say that this was the last new construction opportunity available in Midtown Atlanta (not counting Midtown West) and as a result, this building had the most inventory to sell that had never been occupied. I’m sure 2014 will show some very different numbers now that the building is sold out.

  • 27 One Bedroom Homes — Average List Price:  $259,937 — Average Sold Price:  $256,997
  • 39 Two Bedroom Homes — Average List Price: $529,954 — Average Sold Price:  $507,387
  • 7 Three Bedroom Homes — Average List Price: $1,137,686 — Average Sold Price:  $970,571
For comparison, here is the Top Ten Selling Midtown Atlanta Condos for 2012.

If you would like more information about ANY of these Midtown Atlanta condo buildings, there is a link to each building above, or feel free to use the Contact button and we will get right back to you!

47 Skills You Need to Survive Homeownership | This Old House

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Homeownership survival skillsWhether 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!

FHA Assumable Mortgage – The Seller’s New Marketing Tool

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FHA MortgagesSee 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

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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