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Atlanta Condos For Sale

Condo “Curb” Appeal – Is There Such A Thing?

December 13, 2012 by Thom Abbott

Spire LobbyWhen selling real estate, HOW you sell depends on WHAT you are selling. While many of the steps and process are the same for either a single family, detached home, or a condominium, there are differences when it comes to getting your condo ready to sell.

Condo “Curb” Appeal – Is There Such A Thing?

The answer to that question is easy….YES! But it’s a different answer than if your selling a home with a yard.

In a condominium building, your “front yard” is your Lobby. While it is considered a common element to the building for which you have the right to USE, you don’t have a lot of say about how it looks on a day to day basis. That is left to your Board of Directors and/or your Property Manager. If you are getting ready to list your condo For Sale, and there is a stain in the carpet, chances are it won’t be taken care of just for you!

Where your “curb” appeal starts, is inside your Front Door! Now, you can call this Staging as well, but let’s still look at some things you may NOT Have considered in the Curb Appeal of Your Condo.

Front Door

Again, in a condominium building, you can’t just randomly paint your front door. Colors have to match. But this type of maintenance request CAN be sent to your Property Manager. Maybe when you were moving a piece of furniture in, you scratched the paint on the door. If there is going to be a delay in getting the door painted by the HOA, you MAY be able to do it yourself, once you obtain the proper paint color from the HOA. Again, this will vary from building to building. If your door is wood, and has been scratched, this will be a more involved repair, and again the HOA process will vary. BUT, finding out what the process is early on will help you determine if you CAN get something like your door repaired before potential Buyers come knocking.

Balcony View From Midtown Atlanta CondoWindows

Oh Boy! Here is an often neglected item in a condo that really CAN make a difference! When Buyers enter your condo, they are going to do a quick scan of what they see first, but there attention is going to quickly be drawn to the view out those large picture windows. If you are in a high-rise building, all the more important is that view. And if that view is all spotty, it certainly takes away from the view.

Now, I’m certainly NOT TELLING YOU TO HANG OFF YOUR BALCONY AND WASH WINDOWS!!! NO! NO!  But you can (and it’s actually YOUR responsibility) to wash the windows you have access to from your balcony. Most likely, that’s the sliding door, and the large picture window next to it. Get yourself an extension squeegy, a bucket and maybe a step stool. That crystal clear view will make a world of difference.

Now, if you live in a mid-rise building, or don’t have a balcony, there probably will not be much you can do about window washing. Most HOA’s have this on a set schedule, and the most you can do is find out when your building, or the group your condo is in will be done.

After Dark — What’s That View

Even in a mid-rise condominium, there’s a pretty good chance you will have some sort of a city view. Whether it’s a little, or a lot, you want to point it out. While most of your showings will probably happen during the daytime hours, a big selling point to your condominium can be that night-time view. When I’m looking at your condo as we get ready to list it, I’ll make note of the view. Then, in your actual listing, I can mention, “For an impressive look at what it’s like to live in Number 1514, plan an evening showing to see the stunning skyline views.” Get it? Think about your lifestyle…you’re probably gone to work during the day as well. So when you are home at night, relaxing, what do you get to see? The View.

Condo Balcony Furniture Why We Have RulesTHE Balcony

Another area that will vary greatly from building to building. Many high-rise buildings have strict architectural guidelines as to what you can have on your balcony. This done from a safety concern (plastic chairs at 20 stories up are a lethal weapon when blown off a balcony) and the fact that you may see numerous balconies from  yours. If you’ve spent some money on nice furnishings, make sure they are clean, and arranged. The Buyer’s just might want to have a seat and enjoy the view…and imagine it when they are living there!

If your HOA allows things like potted plants and flowers, make sure they are alive and healthy, not dead or just a pot full of dirt. Also, the  idea that less is better applies too. If you got so much on the balcony that it makes it look small, you might want to consider a balcony “down sizing.”

It’s really hard to change that first impression, but there are things you can do in a condominium that help your Condo Curb Appeal.

Filed Under: Blog, Sellers Tagged With: Atlanta Condominiums, Seller Tips, Sellers

Dear Mr. Buyer, You Are NOT Alone!

October 22, 2012 by Thom Abbott

Multiple Bids in a Buyers MarketHas the real estate market improved? I’m asked this question daily, if not several times daily! It can easily be answered with “Dear Mr. Buyer, You Are NOT Alone!”

What does that mean you as a Buyer of real estate in Atlanta, and especially Midtown Atlanta and Intown Atlanta neighborhoods? It means you might not get the first home or condo you make an offer on. WHAT?

The Multiple Bid Market Place

What is a multiple bid market place? It means there is more than one Buyer interested in a property. What happens in this situation? We are out looking at Midtown Atlanta condos or other Intown Atlanta real estate, and we find the top choice of the homes we have looked at. We look at the comparables, the market, the building, and how this home is priced, and we make our offer. In most offers, we ask for a response back within 24 hours.

I’ll get a call or email from the Listing Agent that says something like, “We have received multiple offers for this property. The Seller is calling for Highest and Best by 5pm on (insert date).” I’ll call you immediately and let you know that we have to look at our offer and make revisions, if you want to. What do you mean, IF I want to? We might feel we already offered the best price. But there are other parts of our offer that can be changed to improve our offer. Due diligence time period, closing costs, financing or appraisal contingencies are all parts of an offer that can be change to improve your purchase position. If it is a home or condo you really want, you may want to offer more, remove the appraisal contingency and know that if your offer is higher than what the home appraises for, that you will bring that additional money to closing.

This type of situation is one reason why I always have my Buyers’ rank properties after we have viewed them. In case we don’t get #1, we already know the next one we are interested in….if IT is still available.

The market of Atlanta has dramatically changed from 2008, when we had something like 112, 000 homes on the market. Today, the inventory is around 30,000 homes. And of course, not every one of those is in the area YOU want to buy or at the PRICE you want. Meaning, there might be numerous condos for sale in Midtown Atlanta, but not in the building (s) you are interested in.

Dear Mr. Buyer, You Are NOT Alone!  Be prepared to possibly “battle” for the Intown Atlanta home or condo you are looking to buy!

Filed Under: Blog, Buyers, Sellers Tagged With: Buyers, Intown Atlanta Real Estate, Sellers

Atlanta Condo Inventory Is Going, Going, Getting There!

September 25, 2012 by Thom Abbott

Atlanta Condo Prices Rise 23 Percent
Midtown Atlanta Skyline

When you are a real estate professional, you, eat, sleep and breath real estate. It’s your life. It’s not like the corporate world where at 5pm, you turn out the lights, head out the door and don’t think about your job till tomorrow at 8:30 when you turn the lights back on. Real estate for me is 7 days a week. As part of that life, you are constantly monitoring news and events that can affect your business. A company announces new jobs, that could mean relocation employees.

So the article in The Atlanta Business Chronicle this past week about Atlanta’s condo inventory, was music to my ears! And it should be to yours too, if you are an Atlanta condominium owner.  The 2012 Midyear Condominium Report from Haddow and Company shows new condo inventory at 1,520 units, DOWN from the 2011 Mid Year number of  2,369 unsold units. Break out the champagne!

We are at inventory levels that have not been seen in 10 years! And with steady sales in 2012, the supply and demand is coming back in balance. If you want to purchase new construction condos in the Intown Atlanta Market, your options are becoming limited. Take that a step further to Midtown Atlanta, and your options are….1010 Midtown and White Provision. Buildings like Luxe and Viewpoint Midtown have long Sold OUT! You can step over the Midtown line going North on Peachtree and you have The Brookwood and The Astoria. Downtown offers the W Residences and Twelve Centennial Park. (Castleberry Point in Castleberry Hill has live/work homes available but has sold all their remaining inventory!) Our biggest challenge in the Atlanta condo market has been…price. During our condo boom, they buildings were popping up everywhere! Investors and owner alike were buying them up, but when the bubble burst, out poured short sales and foreclosures, drowning the prices. Midtown Atlanta Condo Inventory and PricesBut the times ARE changing! The article states that in July, 2012, condo prices were up from $154,000 in July, 2011 to $189,000 in July, 2012…a healthy 23 percent increase! As I prepare my August, 2012 Midtown Atlanta Market reports, I’m seeing the same trend. Some buildings have seen as much as a $50,000 Average Sales Price increase from 2012!! What does this mean for the Buyer? Well, $50,000 can make a big difference in what you may qualify for in a mortgage, and what you will be able to buy. The longer you sit on the fence, the shorter the grass (your buying opportunity) is going to be. What does this mean for the Seller? If you are in a position (and desire) to sell your condo, with limited inventory, you very well may see that contract in a matter of days, not weeks. It may still be a challenge between what you get and what you paid, but with limited options for Buyers, we are starting to see multiple offers on properties! I think we usually refer to a “breath of fresh air” as relating to the Springtime, right? Well, Fall is in the air, the air is crisp, and the Buyers are looking! Thom Abbott Midtown AtlantaFor More Information on how we can best serve your Midtown Atlanta Real Estate needs, please fill out the online contact form or call us at 770.713.1505. We specialize in Condominium homes in Midtown Atlanta and other In Town areas of Atlanta. If you are planning to Buy or Sell real estate, let us help you explore all the possibilities available to you and help you find just the right home you will LOVE! For a Quick Look at Midtown Atlanta Condominiums: Midtown Atlanta High Rise Condominiums Midtown Atlanta Mid Rise Condominiums Perhaps you are interested in Historic Midtown? Take a look at Homes For Sale In Historic Midtown Atlanta

Filed Under: Blog, Buyers, Sellers Tagged With: Buyers, Midtown Atlanta Buyers Guide, Sellers

Are You Relocating From Atlanta To Charlotte NC?

August 20, 2012 by Thom Abbott

Let Me Introduce you to Charlotte’s Best Real Estate Agent!

Meet Charlotte’s Best Real Estate Agent – We receive rave reviews from clients referred to Debe Maxwell

Debe Maxwell Charlotte NC Homes For SaleAtlanta relocation clients, if you’re thinking of relocating to Charlotte NC, I recommend that you seek an experienced professional to assist you in your relocation needs–and I’ve got Charlotte’s best real estate agent for you! Before you think of beginning a home search, let me introduce you to Debe Maxwell.

Debe Maxwell is a long-time Charlotte resident and is a full-time, full-service REALTOR®, working with relocation clients from all over the nation, including many from Atlanta. In fact, Debe and her team have assisted hundreds of relocation clients with their move to the Charlotte Metro area from all across the country. From beginning to end, you will receive world-class service from Debe and her experienced team of Charlotte real estate professionals. Debe will seamlessly transition you through your entire relocation process from Atlanta to Charlotte.

Why Relocate to Charlotte NC?

You may be moving to Charlotte because of a job transfer or simply because of the lifestyle opportunities available to you in the Charlotte Metro region. From a vibrant downtown, urban, in-town, suburban and even equestrian lifestyles, Charlotte has a lifestyle that fits your needs.

From Charlotte’s historic homes to upscale, luxury condos in Charlotte’s Uptown, you are sure to find something that fits your lifestyle. Charlotte is a large metropolitan area, similar to Atlanta so, you will be better served by contacting Debe and her team to help guide you in the right direction.

Here are a few fun facts about Atlanta’s sister city, Charlotte NC –

  • Charlotte Metro Population: 1,771,000
  • Median Age: 32.7 years, accounting for a large population of college students and entry-level financial and healthcare related jobs
  • Major Industries: Financial services, Healthcare, Motor sports, Energy
  • Median Household Income: $51,731
  • Median Home Price: $189,600
  • Unemployment: 10.3%
  • Job Growth: +4.0% (projected 5.7% by 2013)
  • Cost of Living: Consistently at the national average

Meet Debe Maxwell…you will be working with Charlotte’s top real estate professionals who have years of experience assisting relocation clients from Atlanta and other large metro areas across the country. You’ll be in good hands!

 

Charlotte NC Best Real Estate Agent

Debe Maxwell, REALTOR®
Direct: (704) 491-3310
Email: Debe@DebeMaxwell.com
www.iCharlotteRealEstate.com

Search Charlotte’s most popular home search website at www.AtHomesCharlotte.com

Want more information about Charlotte? Visit www.iCharlotteRealEstate.com. Let Debe and her well-qualified team assist you in your real estate journey from Atlanta to Charlotte! Give Debe a call at (704) 491-3310 or email her at Debe@DebeMaxwell.com.

Filed Under: Atlanta Relocation, Blog, Sellers Tagged With: Buyers, Intown Atlanta Real Estate, Relocation to Atlanta, Sellers

8 Signs Housing Is on the Mend

August 7, 2012 by Thom Abbott

Midtown Atlanta with Spire Midtown and Viewpoint MidtownSee on Scoop.it – Midtown Atlanta Conversations and Condos

Some Americans are still jittery over the housing market, but here are eight positive signs that should quell some of their fears.

1)  Housing prices are on the rise across the country.
2)  Foreclosures have slowed. Analysts suggest that as the supply of distressed homes slows, buyers will be forced into higher-price properties too.
3)  Inventories of for-sale homes on the market are decreasing. In fact, inventories of for-sale homes have dropped 24 percent from a year ago.
4)  Mortgage rates are at ultra record level lows, for those who can qualify
5) Housing starts rose 6.9 percent in June. Also, existing-home sales were up 4.5 percent higher in June compared to one year ago.
6) Home building stocks are on the rise.
7) For investors who are buying homes, rents are soaring, allowing them to cash in on their investments. Rental prices are at a 10-year high as median units rent for $710 a month.
8) Home affordability is at record highs for the median income family, due to falling home values and super low mortgage rates. In fact, a recent study found that it is cheaper to buy a home than rent in basically ever major city in the U.S. For those who buy, you can save the cost of renting by owning the home for five years or less

See on realtormag.realtor.org

Filed Under: Blog, Buyers, Sellers Tagged With: midtown atlanta real estate

Real Estate FAQ’s | What Are HOA Fees?

May 31, 2012 by Thom Abbott

Real Estate FAQ at MyMidtownMojo.comReal Estate FAQ’s | What Are HOA Fees?

If you have never lived in a condominium or townhome community, you may not be familiar with HOA Fees. HOA is the Home Owners Association. Now, you can certainly have HOA fees in single family communities. They will just vary on what they are for versus what HOA fees cover in a condominium. Let’s review the major HOA fees as they relate to a condominium:

  • Exterior Fire and Liability Insurance — Heaven forbid, the building ever catch on fire, part of your HOA fees pay for the insurance policy on the building itself. Almost ALL condominium HOA’s require an owner to carry an additional policy on their specific home, its contents and for liability.
  • Reserve Fund — Imagine each month if you own a home, and you put away a small amount of your earnings to have a “slush fund” to repair the roof, or the water heater goes out, etc. Well in a condominium building, the HOA establishes a Reserve Fund for the same purpose, but to cover items that the entire building and it’s owners use. So, items here could be re-finishing the pool or pool deck surface; replacing the roof on the building; new lobby furniture or carpet are some of the items. The HOA does an extensive future budget and determines how much these items will cost to replace, how long they will last, and then calculates how much money needs to be in the Reserve Fund to handle such expenses. Again, in a single family home, this would be where a good budge person would be putting a few dollars away each month for such things.
  • Security and/or Concierge — Not all condominium buildings have a 24-hour Concierge desk in the lobby, but most newer communities do. They will also have varying levels of security from sophisticated camera and key access systems to an actual security office that walks and patrols the property. These expenses are covered in your HOA fees.

After these items, other things can be included in the HOA monthly fee, depending on the building. These can include:

  • Internet Service
  • Water & Sewer charges
  • Gas (usually for gas cooking)
  • Garbage
  • Pest Control (common areas of the building)
  • Exterior Maintenance (this is usually the exterior of the building, and areas like garage)
  • Fitness Center, Pool, Movie Theater
  • Landscape Maintenance (Gardens, pool landscaping, etc.)

As you can quickly see, it all adds up! But if you started to figure what it would cost YOU to maintain a pool, pay for garbage service, monthly Internet, pest control…it can easily be more for a single family home than in a condominium.

When you are purchasing a condominium or a single family home, be sure to ask your real estate agent about any HOA fees, as well as any Initiation fees, also called Capital Contributions. You will also want to give this information to your lender to figure in the overall cost of your monthly mortgage.

Real Estate FAQ’s –What Are HOA Fees?

Filed Under: Blog, Buyers, Sellers Tagged With: Buyers, real estate FAQ, Sellers

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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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