Sellers Archives

I’m Not Your Attorney or Accountant, I’m Your Real Estate Agent!

January 17, 2013 by Thom Abbott

During the real estate process, I get asked all kinds of questions. Some of them relate to real estate, but others don’t.

“Can I write off my marketing fees and closing costs on my taxes?”

“How much will my credit score drop when I do a short sale?”

“Can the Lender come after me for the difference of the balance of my loan if my home is foreclosed on?”

Those are NOT real estate questions, as much as they may sound like it. They are related to the sale of your home, but they require a different interpretation! And a professional, based on what the question is about…be it a legal matter or a tax matter.

Also, you should not rely on information from someone that is not in the same state you are (especially for legal questions) as laws vary from state to state. Take a look at this question that appeared on a national real estate website today…. the question is asked about real estate in Georgia. The owner lives in California. The person answering the question is from…..NEW HAMPSHIRE!!!

And just as I went to get the question and the answer, the person has removed the discussion! How funny. It was a question about being foreclosed on in Georgia and the HOA still going after delinquent dues. The person from New Hampshire said they have to go to court. Now that may be true for the HOA fees, but not for the foreclosure, and the answer was not really clear.

Here in Georgia, you don’t go to court for foreclosure…we are a non-judicial state. At the closing and purchase of your home or condo, you sign a document that gives the lender the power to take your property if you do not pay your mortgage. We often joke at the closing table that this is referred to the “You don’t Pay, You don’t Stay” clause of your mortgage. They can send you notice, then publish notice in the ocal paper that serves as public record for 4 weeks, and sell you home on the courthouse steps.

Moral to the story…get professional advise from the RIGHT professional in the RIGHT state!

Midtown Atlanta Condominium Sales for 2012

January 16, 2013 by Thom Abbott

We recently published our Top Ten Selling Midtown Atlanta Condominiums for 2012. These are not the only Midtown Atlanta condo buildings, and we wanted to share the sales in the other buildings.

The fact that these buildings were not on the Top Ten list certainly have NOTHING to do with the community itself. It’s primarily due to the fact they are smaller communities with less homes so not as many to sell! Most of these Midtown Atlanta condominium buildings are very popular and desirable buildings.

Midtown Atlanta Condominium Sales for 2012

NOTE: When we completed our Top Ten Selling list, we did not include 1280 West Condominiums. It actually (based on number of homes sold) would the the second highest in sales at 39 homes sold in 2012.

Spire Midtown Atlanta | A Midtown Atlanta Condominium Building

January 16, 2013 by Thom Abbott

Midtown Atlanta has seen its share of changes over the years. In the 1930’s to the 1960’s…it WAS the happening place. Then things kind of got forgotten and she just stood still.

Fast forward to 2001-2009 and it’s a whole other world. Gone are most of the landmark mansions that once dotted Peachtree Street. Stores, car lots and gas stations have been replaced with condos, restaurants and Starbucks. Midtown Atlanta now offers a variety of things to do, from museums to movies at the Fox, and some choice places to call home.

Spire Midtown Atlanta | A Midtown Atlanta Condominium Building

One such place, or building is Spire Midtown Atlanta. This prime corner at Peachtree and 7th was most recently home to the Cabana Motel. (Well, like it was there until the late 90’s) I only wish I had taken photos back then and known what was going to later become of this corner. I did find a picture of the motel. When Spire Midtown Atlanta was announced in 2006, it was the first new condo building since Metropolis Midtown, it’s older cousin had been built in 2001. Needless to say, there was a land rush, or condo rush to snap up one of these. It was exciting to see this monster of a shiny blue-green glass and white concrete structure rise from the corner.

This Midtown Atlanta condominium community has 28 stories. The first 6 are a podium of the parking garage, and homes begin on the 7th Floor. These particular homes are unique in that they have massive terraces perfect for outdoor entertaining and taking in the city sights and skyline lights at night. The amenities of the building, which include the Club room, movie theater, and pool are on the 7th floor. The Fitness center, cardio room and stretching rooms are located on the 8th Floor, connected by a circular stair case leading up to the 8th floor balcony. The club room has a wet bar and access to the outdoor deck where two gas grills are located.

There are 18 homes per floor. All the 1 bedroom floor plans vary in layout and sizes. There are 2 two-bedroom floor plans that repeat on each floor, and on the front of the building, on each corner is a 2 bedroom home. These were, and still are premium floor plans that offer sweeping views either of Midtown looking North or South down Peachtree Street to Downtown Atlanta.

The lobby of Spire Midtown is one of the more unique and inviting lobbies of all Midtown Atlanta condo buildings. When it was first changed, it created quite a stir with the residents, since most of the decisions regarding colors and all were done by the Board of Directors. But it has since grown on the residents, and most are pleased with it now.

Spire as a state-of-the-art security and controlled access system for the building. Residents can only access the lobby, their parking floor, amenities floor and the floor where their home is located. Movement to other floors in the building requires a code that must be obtained from a resident on that floor.

The street level of Spire Midtown Atlanta offers conveniences to the residents! Five Guys Burgers, Fresh To Order, and Senior Petron’s restaurant are but a few of the choices available here. Midtown Atlanta offers a variety of things to see and do for residents!

As of today, there are only five homes available For Sale in Spire Midtown. You can Search Spire Midtown Atlanta Homes For Sale Here.

One currently on the market is a very unique two bedroom that was created by combining a 2 bedroom and a 1 bedroom together. It has some incredible details, and it’s current pricing makes it an attractive Midtown Atlanta condo! If you’d like to schedule an appointment to see this beauty, call me at 770.713.1505 or email me at Thom@MyMidtownMojo.com. I’d be delighted to show it to you, and help you make it YOUR Midtown Atlanta home!

Spire Midtown Atlanta.

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How’s The Atlanta Real Estate Market? Just Ask This Homeowner!

January 15, 2013 by Thom Abbott

If you have ever bought or sold a home, you know that many real estate agents used to tell you, “let’s wait to list until the Spring buying season.” It had long been the order of business that from the beginning of December till early Spring, the real estate market was not so busy.

The times in real estate they have changed!

How’s The Atlanta Real Estate Market? Just Ask This Homeowner!

We listed this bright and shiny townhome located in Chamblee (a great Intown Atlanta community just North of Midtown) in mid-December. It went Under Contract on Friday!

To give you an even better idea of the real estate market, especially in Midtown Atlanta, we just completed our review of the Top Ten Selling Condo Buildings and you can see that activity was brisk last year, and most buildings show an increase in the Sales Price of homes!

If you are looking for Intown Atlanta Real estate, let me show you communities you may not have seen yet, or opportunities in condominium and townhome living, like D’Youville!

You can Search Intown Atlanta Real Estate here, or if you are looking for something specific, just complete the form below, and we can customize a search for you!

When you are ready to buy or sell Intown Atlanta Real estate, call me at 770.713.1505 or email me at Thom@MyMidtownMojo.com

Top Ten Selling Midtown Atlanta Condo Buildings for 2012

January 11, 2013 by Thom Abbott

In Midtown Atlanta, the variety of condominium buildings range for the 36-story high-rise glass towers to the home that was converted into 4 condo units in Historic Midtown. Midtown Atlanta offers something for almost everyone when it comes to condominium living. From the aforementioned high-rises to a mid-rise (usually 6 stories or less) we do have a variety.

Square footage in condos varies greatly depending on the building. Midtown Atlanta’s location makes it one of the most popular urban living areas in all of Atlanta. It ranks as one of the most walkable neighborhoods on the popular site, Walk Score. One can easily park their car on Friday afternoon and not need it again until the Monday morning commute to work. MARTA makes other parts of the city accessible, such as Downtown to attend a Falcon’s football game at the Georgia Dome, or easy access to the world’s busiest airport, Hartsfield-Jackson Atlanta International Airport (a mouth full!) Passion for the Arts? You’ll feel right at home in Midtown Atlanta with the High Museum, Woodruff Arts Center and the Fox Theater, just to name a few.

If you already live in Midtown Atlanta, you know the joys and benefits of living here, and your reasons are probably the same as any newcomer looking at the area! In you are a condominium buyer, that is what we specialize in, and can help you find the right Midtown Atlanta building for your life style.

And now, we proudly present….

Top Ten Selling Midtown Atlanta Condo Buildings for 2012

10. (Tie) White Provisions (Midtown West) and Mayfair Renaissance/Tower (14th Street)

White Provisions had 17 homes sold with an Average List Price of $312,312 and an Average Sales Price of $291,676. There were 16 2 bedroom homes and one 1-bedroom home sold. In 2011, the building had just 4 Sales (according to FMLS) at $253,400/237,500.
Mayfair Renaissance and Tower also had 17 homes sold with an Average List Price of $206,571 and an Average Sales Price of $190,091. There were 11 2-bedroom homes and 6 1-bedroom homes sold. In 2011, the building had 20 homes sold at $159,893/143,144.

9. Tuscany Condominiums (Juniper Street)

Tuscany had 18 homes sold with an Average List Price of $156,667 and an Average Sales Price of $142,514. There were six 2-bedrooms homes sold and 12 1-bedroom homes sold. In 2011, the building had 8 sales at $153,213/127,350.

8. Cornerstone Village (Peachtree & 5th Street)

Cornerstone Village had 19 homes sold with an Average List Price of $121,784 and an Average Sales Price of $108,561. There were six 2-bedroom homes and 13 1-bedroom homes sold. In 2011, the building had 26 sales at $106,896/92,941.

7. Peachtree Lofts (Peachtree & 7th Street)

Peachtree Lofts had 20 homes sold with an Average List Price of $153,301 and an Average Sales Price of $142,657. There were three 2-bedroom homes sold and 17 1-bedroom homes sold. In 2011, the building had 15 sales at $116,660/109,975.

6. Plaza Midtown Atlanta (West Peachtree Street & Peachtree Place)

Plaza Midtown Atlanta had 23 homes sold with an Average List Price of $210,696 and an Average Sales Price of $196,024. There were 12 2-bedroom homes sold and 11 1-bedroom homes sold. In 2011, the building had 41 sales at $214,386/191,867. (Note: this is one of a couple buildings that did see a decrease in the average Sales Price in 2012.)

5. Park Central (Juniper & 13th Street)

Park Central had 29 homes sold with an Average List Price of $167,069 and an Average Sales Price of $156,395. There were 15 2-bedroom homes sold and 14 1-bedroom homes sold. In 2011, the building had 13 sales at $153,169/139,673

4. Spire Midtown Atlanta (Peachtree & 7th Street)

Spire Midtown Atlanta had 30 homes sold with an Average List Price of $200,265 and an Average Sales Price of $188,412. There were nine 2-bedroom homes sold and 21 1-bedroom homes sold. In 2011, the building had 27 sales at $201,915/189,431

3. Viewpoint Midtown Atlanta (Peachtree & 7th Street)

Viewpoint Midtown Atlanta had 32 homes sold with an Average List Price of $274,509 and an Average Sales Price of $255,900. There were 23 2-bedroom homes sold and 9 1-bedroom homes sold. In 2011, the building had 25 sales at $235,026/215,889.

2. Metropolis Midtown Atlanta (Peachtree & 8th Street)

Metropolis Midtown Atlanta had 37 homes sold with an Average List Price of $211,646 and an Average Sales Price of $197,555. There were 12 2-bedroom homes sold and 25 1-bedroom homes sold. In 2011, the building had 24 sales at $202,000/180,210.

And for 2012, The Top Selling Midtown Atlanta Condo Building is…..

1. 1010 Midtown Atlanta (Peachtree & 11th Street)

1010 Midtown Atlanta had 46 homes sold with an Average List Price of $346,257 and an Average Sales Price of $328,498. There were 31 2-bedroom homes sold and 15 1-bedroom homes sold. In 2011, the building had 27 sales at $339,707/314,095. (Note: Since this building is still being sold by the developer, these numbers only reflect the actual homes listed in FMLS. There could of been other sales of homes that were not yet listed in FMLS.)

If you did not find the Midtown Atlanta condo building YOU live in, or are interested in, we will have market reports posted for those buildings in the coming days, and you will find them on our Midtown Atlanta Market Reports page.

If you have any questions about this report, Midtown Atlanta condo buildings, or other Intown Atlanta Real Estate communities, please call me at 770.713.1505 or email me at Info@MyMidtownMojo.com

The Reasons People Moved in 2012

January 9, 2013 by Thom Abbott

Everybody moves in one way or another.

You move when you walk. But the kind of move I’m talking about is the place you call home. Some people will move more than others. It could be out of need, or they simply have the “ability” to move. Ability could mean they have equity in their home, a job transfer with some relocation benefits, who knows?

The Reasons People Moved in 2012

But moving is a big deal. Whether by necessity or by choice. Whether it’s across the street, across town, or across the state, it’s a big deal. Besides packing, and all that, there is the process of selecting the right real estate agent to market your home or condominium. And, if you are moving within the same city, do you use the SAME agent for both the sale of your current home, and the purchase of your next? Ah, that’s another topic.

But there can be many reasons you need to move. Whatever YOUR reason, I’m here to help make the real estate part of your move as smooth and easy as possible.

Midtown Atlanta Condominium Sales for 2012

Spire Midtown Atlanta | A Midtown Atlanta Condominium Building

How’s The Atlanta Real Estate Market? Just Ask This Homeowner!

Top Ten Selling Midtown Atlanta Condo Buildings for 2012

And for 2012, The Top Selling Midtown Atlanta Condo Building is…..

The Reasons People Moved in 2012

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