We just wanted to share with you, from one of our Team Lenders, current interest rates.
Of course, keep in mind that your rate is subject or your personal or specific credit situation, and they could vary. This is why we have all Buyers meet with a lender to have an accurate picture of their financial situation, and their buying power, BEFORE we go shopping for a new home!
Let us connect you with Kevin, or any of our Team Lenders and get you pre-approved TODAY!
Brookhaven, GA has always been a desirable location to live, ever since I’ve live in Atlanta! And when it became a city, I think that desirability grew even more as they looked to make things better like zoning and parks.
In this post, we want to focus on the 2018 real estate year in Brookhaven and what the real estate market was like. You can find more information about Brookhaven here.
Disclaimer: As we do this “15,000 ft overview” of the Brookhaven market, please keep in mind many factors come into play as we pull market numbers. Some homes listed as Brookhaven, are not actually IN the city limits of Brookhaven. Ashford Park is a prime example…parts of it are actually in Chamblee, so some homes will get listed in Chamblee and some get listed in Brookhaven. But this overview will give you a good idea of what’s happening in the Brookhaven area.
We had to break down the single family home sales into three categories: Homes sold over $1m, homes sold $500,000 -$999,000 and finally homes sold for $499,999 or less. In 2018, those numbers look like this:
Over $1 Million — There were 49 sales in 2018, ranging from several at $1M to a high of $2,600,000 for 2799 Mabry Road.
$500,000 – $999,000 — A whooping 335 homes sold in this price range in 2018, ranging from $502,000 to $993,000
$500,000 or less — And there was an impressive 169 homes sold in this price range, from a low of $215,000 to a high of $495,000. There is a good chance than many of these homes in the lower price range were torn down to make way for the higher priced new construction that Brookhaven is seeing. On some streets in Brookhaven, we would not be surprised if in a few years there will be no original homes left…having all been torn down and replaced with new construction. It’s pretty amazing.
Brookhaven has a MARTA station on Peachtree Road, and another, just outside its city limits with the Medical Center station on the North side. Town Brookhaven has been the city’s “downtown” of sorts, and now a new development, including a hotel has been proposed right in front of Town Brookhaven,.
CLICK HERE to see the Complete 2018 Market Report – $1 Million
CLICK HERE to see the Complete 2018 Market Report – $500,000 – $999,000
CLICK HERE to see the Complete 2018 Market Report – $500,000 or less
Brookhaven has a variety of condominium and townhome communities. Surprisingly enough, there were like 60-some sales of condominium homes that were in the range of $205,000 or less….making Brookhaven still an affordable location for first time buyers. We do expect, however, to see those prices continue to rise in the coming years as the city works on making changes to areas like Buford Highway where any new construction will be way above these kinds of prices.
In 2018, there 380 sales, ranging in price from $106,000 at Keys Lake Condominiums (off Buford Highway) to a very impressive $1,350,000 for a home at The Aldredge. In looking at the report, you can see a majority of the sales were in the $400-600,000 range.
CLICK HERE to see the Complete 2018 Market Report
As we said earlier in this report….the housing boom of “tear-down and build new” will most likely continue into the future. We suspect it won’t be long any many streets will no longer have any of the older homes left…all having been torn down and replaced with the much larger $1m+ homes!
Townhomes and condominiums are still affordable in many areas of Brookhaven, but land prices and new construction will surely change that. There are numerous large, older apartment complexes that are more than likely going to get bought up and torn down to make way for new construction. It’s a challenge the city is looking to deal with to include affordable housing requirements for new construction. How that all plays out remains to be seen.
If you are looking to Buy or Sell a home in Brookhaven, MyMidtownMojo.com can help!
Selling? Do you want to sell your Brookhaven single family home or condominium? Call us today at 770.713.1505 to schedule a free market analysis of your home. Or, complete our Seller Information Form and we will be in touch with you!
Buying? Are you looking to buy a Brookhaven home, condo or townhome? We can set up specific searches for you based on price, community or other specifics you may be looking for. In a competitive Seller’s Market, we can alert you of new listings within minutes of them hitting the market! Just complete out Buyer Information Form, or let’s schedule a time to talk about what you are looking for!
If you are a home buyer looking for new construction in Midtown Atlanta, you know it pretty much does not exist. But the frozen new construction market seems to be thawing…and Park Modern Midtown Atlanta is one of those options.
This new 18-home community will not be for the faint of wallet, however. Located on 14th Street and 14th Place, home prices will most likely be in the high 900’s and the prime front corner home on 14th Street may hit around $1.5M.
The new 4-story townhomes will feature 3- 4 bedrooms, 2-car garages and rooftop decks. Community amenities will include a lap pool, park area and a dog run.
The community has grown in size from its original presentation with the addition of the “leg” of property fronting 14th Street. This was where The Dowling condo building had been proposed, but never got out of the ground. It’s that front corner where the most expensive home will be located.
We learned about this project at the DRC Meeting with Midtown Alliance. So we did not have a copy of the plans, and tried to capture some photos as the presentation was being made. We’ll keep an eye out for more information and floor plans, and you’ll find a page here at MyMidtownMojo.com once it becomes available and we can share it.
After the meeting, we passed by the site. You really forgot about these apartments tucked back on 14th Place, and know that this will in one sense be a blow to the affordable rental opportunities in Midtown Atlanta.
It appears 208th 12th Street in Midtown Atlanta may soon be home to a new condominium development.
What’s Happening Now reports that plans were filed with the City of Atlanta on Wednesday, January 17, 2018. The project remains nameless at this point. A review of the Midtown Alliance DRC meetings back to mid-Sugust, 2016 make no mention of the project, but we would think it had gone through the Committee.
It appears that 208 12th Street will be a boutique building with just 13 homes (expect “boutique to equal pricey!) but will have a small coffee shop/wine bar on the first floor. That would be pretty cool!
12th Street is no stranger to development. On the map below, the blue/white arrow indicates the location of the under-construction Vireo Apartments, a 308-unit building by Lennar; the other arrow indicates the location of the completed Yoo on the Park . Additionally, you have Piedmont House, and Azure on the Park on the same street.
We’ll be keeping an eye out for the construction crane…again…on 12th Street!
As I work with Buyers everyday, one question often comes up when looking at condominiums….Is Condo Living Maintenance Free? Well yes….sort of.
Living in a condominium gives you freedom from most outside work associated with a single family home. In other words, no lawn mowing, trimming the shrubs, pressure washing the driveway and such. You also don’t have to worry about the roof since it is on the of the building, and most likely NOT on top of your particular condo (unless you DO live on the top floor) but it still is a responsibility of the home owner’s association. (HOA)
But most of the systems that service your condominium are your responsibility. What are these key systems?
Heating and Air Conditioning System
Newer buildings will have self-contained systems located in your utility closet INSIDE your condo. But most buildings you will have a separate heat-pump or condensing unit. And there is a good chance it is on the roof of the building. You are responsible for the maintenance and operation of this system. Yes, even with your unit on the roof, you have to maintain that. I often find (mainly during a home inspection when working with a Buyer) that the unit on the roof has seen very little attention. While they should not get very dirty with little exposure to dirt, the insulation that wraps the lines is most often found in the condition you see in the photo on the left. And it’s almost always an issue I ask to have addressed by the Seller. (If they have not paid attention to THIS, they have most likely NOT had the HVAC system serviced anytime recently.
And I’ve had the extreme the other way on the INSIDE of a condo. I took over a unit that had been rented and helped an out-of-town seller get the place ready to sell. It was dirty beyond dirty could BE dirty. The photo on the right is the fan from inside the air handler in the condo. It’s amazing the unit could even operate!
Hot Water Heater
Again, when working with Buyer’s, we keep an eye on the age of systems. ( I might note the new Seller’s Disclosure Statement DOES NOT have a blank for the Seller to enter the age of the hot water heater!) Hot water heaters can last a long time….but…10 years is their normal life span….and that is when they are “maintained.” Did you know that you should drain your hot water heater and refill it? Once a year? Who has a garden hose in a condo, right? So this service is never done, and can lead to a shorter life span! And replacing a hot water heater is no cheap trick! So, if you live in a building that is 10 years old….or older, you might want to be on the lookout for a request to pay for a home warranty for the Buyer.
Plumbing
This should be pretty easy, right? Hmmm. I’ve had a rental condo where a tenant did not realize the kitchen sink was leaking until it FINALLY went through the ceiling into the condo below. Not to mention the damage to the kitchen cabinet under the sink, AND the hardwood floors. Moral of that story…look under your kitchen (AND BATHROOM(s) sink every month. Takes you but 5 minutes to make sure all is well, versus hundreds or even thousands of dollars in damage. And make sure if you are ever having any renovations done, that the contractor is insured, the plans have been approved by the Architectural Review Board and you have insurance as well. A water “event” in a condo building is a serious matter!
Appliances
Washer, Dryer, Stove, Dishwasher, Refrigerator, Microwave….these are ALL inside your condominium, and are YOUR responsibility. A leaky connection on a washer can be hard to find in some of the tight laundry closets in most condos, so just keep an eye open. Same goes for a dishwasher that may leak. And a word to the wise….never leave your condo and leave a washer or dishwasher running unattended!!!
Is Condo Living Maintenance Free? So you don’t have a basement, or a garage or all that stuff to worry about. And most of this stuff is pretty simple and easy. Just have an annual maintenance contract on your HVAC, and consider a home warranty that will help defray the costs of repairs/replacement of the other items!
Depending on the size of condominium you may have purchased in Atlanta, you could have a large living room, or it could be part of a smaller space, combined with the dining area, and even open to the kitchen. Condo Living Rooms can be small, medium or even large!
The interior design of many condos offer cool spaces where you can do an accent paint color, like along the dropped ceiling that as the HVAC and vents in it.
What’s YOUR condo living room look like?
