Buyers Archives

Who Is YOUR Real Estate Team?

September 11, 2015 by Thom Abbott

So it began last night….but it wasn’t Monday!! It was Thursday Night Football! I think they still have Monday, and Sunday…shreek! But, that’s not want I really wanted to talk about.

I wanted to talk about YOUR Real Estate Team. When your watch a football game, there are the players on the field, and those on the sidelines, hoping they make it in. And then WHO ARE all those other people around the actual football players. Well, you have the actual football TEAM, and then you have all those other people that support them.

It’s the same when it comes to buying or selling a home. Who Is YOUR Real Estate Team?

Of course there is me, your Real Estate Agent. I’m like the Quarterback of the team. Number One, I’m your consultant. Number Two, I’m your negotiator. And Number Three, I’m the person who oversees all your transactional details.

And there are plenty of those details to make happen. But helping me, help you is YOUR real estate team, that includes your home inspector, your lender, your insurance agent, maybe a plumber or handyman that needs to fix things (before you place your home on the market) or even after you buy and close, maybe something comes up. I’m still here as your Consultant and Quarterback to help you out.

But just like that football team on the field, if you don’t have the right team put together, you may not get to the goal post. In real estate, that would be the closing table, and you handing over the keys to the new Buyer or you receiving those keys AS the new Buyer.

Let me help you with YOUR real estate team!

Midtown Atlanta Market Report | July 2015

August 24, 2015 by Thom Abbott

Midtown Atlanta Market Report | July 2015 $200-300,000

Midtown Atlanta condominiums really do come in all shapes, sizes…and prices. Let’s take a look at the sales for July, 2015 for condominium sales with a price range of $200,000 to $300,000.

Active Listings

67 condominiums are on the market in Area 23 (Of which the majority of Midtown Atlanta is in based on the FMLS) If you are looking for a 2 bedroom, and think you can’t find one under $300,000, a look at the listings shows numerous 2 bedroom options, mind you not all of them are in the central part of Midtown. But we did see listings in buildings like Park Central, Mayfair Tower and Peachtree Walk.

Pending (Under Contract) Listings

Just 16 homes are showing Under Contract. Keep in mind, we specifically pull those listings that went Under Contract during the month of July. There are actually 61 homes Under Contract in Area 23.

SOLD!

Here we get a bigger picture of the market….and we had a couple interesting bits with Days On Market! There was one listing with a ZERO, and the average in July, 2015 was just 21 days on the market! WOW! In comparison, in July 2014, there were 33 homes sold at an average of $247,572. While the Average Sales price is down for July of this year, I’m not concerned. It just means there were Buyers out there that picked up the low hanging fruit!

So, why did YOUR home not sell?

There can be a number of reasons, but in Midtown Atlanta condominiums, it usually has to do with your floor plan (we do have some not-so-well-thought out floor plans) or perhaps the view (both the floor and what you see out the window/balcony) and there is certainly price. If your home is on the market at Price “X” and it’s not selling, and you are not making a price adjustment, you will be ON the market. That market is telling you we are not willing to pay you what you are asking, or perhaps even make an offer at the price you have.

If you would like to see other July, 2015, Market Reports, just bookmark this post, and we will add links as we complete them.

Midtown Atlanta Market Report | July 2015 | Under $200,000

1065 Midtown Loews Condominiums

August 23, 2015 by Thom Abbott

We see cranes everywhere in Midtown Atlanta these days…but that does not mean there are lots of condominiums being built. Nope. In fact, only 3 buildings are new construction, One Museum Place and Seventh Midtown, which neither have opened yet, and 1065 Midtown Loews which is a conversion from luxury rentals to condominium residences.

When 1065 Midtown Loews was first built, the real estate market took a turn for the worse. The developer elected to rent out the homes since the market could not support the sales. Now, the condominium portion of the building was sold to Tribridge Residential and they are placing the homes For Sale as the leases expire.

1065 Midtown Loews offers all that you would expect in Midtown high-rise condominium living…and just a bit more!

With floor plans ranging from 1,948 to 2,819 square feet, these one, two and three bedroom homes are spacious and offer amazing views of Midtown and Piedmont Park! And some amazing amenities as well…

24 Hour Concierge
Separate Entrance/Elevators from Loews Hotel
Curated Art Collection on each floor
Heated Roof-top Pool
Resident Club Room
24 Hour Access to Exhale Fitness and reduced rates at Exhale Spa
Access to all services from Loews Hotel

1065 Midtown Loews is part of the 12th & Midtown development. Step out your front door to CB2, Mi Cocina, Cafe Intermezzo, and more…all within a couple blocks of your home! Just a few blocks from Piedmont Park, festivals and more will be at almost at your door!

Experience Midtown Atlanta living with a home at 1065 Midtown Loews. Search our page for 1065 Midtown Loews Condos For Sale

Detroit Lions QB Matthew Stafford Atlanta Home For Sale

August 16, 2015 by Thom Abbott

Ever want to live in a celebrity (or sports fame) home? Hmmm…now just might be the opportunity in the heart of Buckhead!

Detroit Lions QB Matthew Stafford Atlanta Home For Sale

Matthew Stafford and his wife Kelly are selling their Buckhead townhouse, currently listed at $1.25M. The home, located in The Vermont on Peachtree is just North of Phipps Plaza and Lenox Mall. Built in 2007, the four-level townhome features 4 bedrooms, 3 full baths and two half-baths. It’s an end unit that gives additional privacy.

Yeah, I know what you are thinking…FOUR LEVELS!!!! My achy, breaky knees! Ah, never fear, there is a private elevator to get you to each floor!

The owners, Matthew and Kelly met while they were both at University of Georgia and were just married this past April. Who knows where they are headed (maybe a full-time home in Detroit….eeek!) But now’s your time to move on in!!

We're sorry, but we couldn't find MLS # 5563380 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

5 Ways To Catch the Atlanta Seller’s Attention

August 14, 2015 by Thom Abbott

You’ve been looking for that “perfect” Atlanta condo, right. And whether you have been looking for a week or a month, you know that the HOT Atlanta real estate market does not offer you many choices! With the limited inventory, you might even find yourself in a multiple-bid situation….meaning there are more Buyers than just YOU interested in that condo. So, you need to make an offer that will convince the seller that YOU are the one they should sell to.

5 Ways To Catch the Atlanta Seller’s Attention

You don’t have to be in that multiple offer situation either. The seller still has the right to review, and refuse any offer they receive on their home. BUT, if we write an effective offer that focuses on 5 important parts of the offer, you have a much better chance of being the offer the seller accepts.

Pre Approval Letter From Your Lender

There IS a difference between a pre-qualification letter and a pre-approval letter. With the pre-approval letter, you have provided your lender with all the necessary documents they need to review to give final approval on your loan. (with the exception of the contract we are working on!) By having this in place, it will help you with the Quick Closing and shorter Due Diligence periods noted below. Additionally the Georgia Purchase and Sale Agreement has a Financing Contingency in it. You may be able to offer a much shorter time frame for this process by having your pre approval completed.

Offer the List Price (Or Close to It!)

The first thing the seller will look at when your offer is presented is the price you are offering. If their listing agent has done their homework, the home will NOT be overpriced! And offer a full price offer is not a bad thing. You are paying what the home is worth. If it is somewhat overpriced, and we are in a multiple offer situation, you may need to offer OVER the list price. A Seller is going to look much closer at an offer that is at or near the listing price. We will also have to be prepared for the appraisal process in case there is a difference between our offer and the appraisal. But to low of an offer and we could be out of the game before we even get started!

Request A Quick Closing

The sellers are either being relocated or have already found their next dream home or condo. We want to keep that in mind when presenting our Offer. Chances are, it is one of those two things that have prompted the sellers to list their Atlanta condo in the first place. Sellers may want to close quickly, to facilitate the closing on THEIR new home, or to complete a relocation package, so a general rule of thumb is to offer a Closing date that is within the next 30 days, provided your lender has said that is possible. By offering a quick Closing this can also show the Seller you are a motivated buyer.

Choose A Shorter Due Diligence Period

A Georgia Purchase and Sale Agreement includes a Due Diligence period, which allows the buyer to back out of the contract for any reason … or simply no reason at all. This is the time when you do a detailed investigation of the property including HOA documents and budgets, and your property inspection. Sellers like to see a shorter Due Diligence period, and if you are in a multiple-bid, this could be your winning card!

Offering A Higher Earnest Money Deposit

When you make an Offer on a property, you will also give the seller a good faith or earnest money deposit. A higher earnest money deposit also shows that you are serious about buying the home, as you have more initial money upfront!

These are just 5 Ways To Catch the Atlanta Seller’s Attention and just a few of many factors that a seller considers when they receive an offer. But by looking at these five key factors, we are focusing on those which Sellers tend to put the most significance on when making a decision.

I’m here to help you write the best offer possible! If you need help in this HOT Atlanta market, give me a call!

SOLD Ansley Above The Park Number 914

July 27, 2015 by Thom Abbott

In real estate, a “closing day” is always a good day for everyone! There are happy Seller’s that have sold their home and happy Buyers that are going to be moving into their new home! The process should be an easy one, but that is not always the case.

SOLD Ansley Above The Park Number 914

MyMidtownMojo.com is pleased to have helped Jim, Natalie and Emily call this stunning, three story condominium at Ansley Above The Park home! Natalie was not able to come to Atlanta on the house hunting trip, so Jim and I looked at the options and he sent photos and video back to Natalie in California. She just walked through the door and saw if for the first time this past Saturday morning! She was excited and pleased!

Their closing was an unusual one! They were not only not able to be in Atlanta for closing (so we do what is called a “mail-away closing”) but Jim was in Nevada and Natalie was in New York…so it was a DOUBLE mail-away! Our team at Ganek, Wright and Minsk, Closing Attorneys did an outstanding job of finding our Buyers locations to sign their documents. And they each had to sign the SAME set of documents, so they had to go from ATL to Nevada to New York and back to Atlanta! Whew!

Jim’s lender, John Markham with Wells Fargo Home Mortgage did an incredible job with his team to have a loan package ready and to the attorney for the mail-away process to begin. Here’s a funny side to the story however…and just goes to show that in your real estate purchase, your lender is worth their weight in gold in making your closing be smooth! The SELLER used Wells Fargo to close on their new home purchase and they had a total disaster. They ended up having to delay their closing twice, and almost lost the home they had found! All because the loan officer did not have their “ducks in a row!”

When we work with Buyers, this is one of the very reasons we work with them and recommend the various players they need to have on YOUR TEAM! After all, everyone IS on YOUR TEAM to help you find, and buy the home of your dreams!

Congratulations again to our Buyers and we look forward to seeing them around Midtown!

Midtown Atlanta Market Report | July 2015 $200-300,000

Midtown Atlanta Market Report | July 2015 | Under $200,000

Detroit Lions QB Matthew Stafford Atlanta Home For Sale

5 Ways To Catch the Atlanta Seller’s Attention

Pre Approval Letter From Your Lender

Offer the List Price (Or Close to It!)

Request A Quick Closing

Choose A Shorter Due Diligence Period

Offering A Higher Earnest Money Deposit

SOLD Ansley Above The Park Number 914

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