Condominiums Archives

CC&R Conditions Covenants and Restrictions What Are They?

October 2, 2011 by Thom Abbott

CC&R Conditions Covenants and Restrictions If you are buying an Intown Atlanta condominium, then you will certainly want to know what the CC&R (Conditions, Covenants and Restrictions) are in the community where you are buying.

CC&R’s are most often defined as stipulations and constraints recorded in the Condominium Declaration that restrict the what you, the buyer can and cannot do within the building and even inside your own home. There may be penalties for failure to comply, or these can be set and adjusted by the Home Owners Association (HOA) Board of Directors. This document is used primarily to define the rules in the building, and while they can be quite restrictive, that really ARE for your protection.

What are some of the items or rules in a CC&R? As I thumb through a copy of the condominium documents (you’ll hear these called condo docs for short) here are some of the areas covered:

Alterations to the Interior of a Component — meaning you may not make substantial renovations to the inside of your home without first gaining approval of the Architectural Review Board(ARB). This is NOT a bad thing….but is meant to protect you and/or your neighbors from doing something that could cause harm or damage to another home. Keep in mind, the walls in condos are filled with wiring and pipes that might service adjoining homes. Cutting into sheet rock could possibly damage these if you don’t know where they are. The ARB has the engineering plans and can make sure none of your planned renovations could cause problems.
Pets — The HOA can restrict the type, size and number of pets that a resident may have in their home.
Restriction of Use of your Unit — this usually is to control your neighbor from running a business out of their condominium which might affect your quiet enjoyment of your home. An example might be a personal trainer or massage therapist that has clients coming to see them on a regular basis.
Balconies, Terraces and Patios — these regulations are for a number of reasons. First off, when standing on a balcony, you often can see multiple other balconies at any time. Do you want to look at a bunch of pots full of dead plants, or bikes, or other stuff? Most likely not, hence the rules. Also of concern in a high rise is the wind factor. When you are 20 or 30 stories up in the air, the wind is a whole different animal. Plastic furniture can easily be lifted right off a balcony…and by the time it reaches the ground, it’s a lethal weapon that could seriously injure someone. Hence, rules about the kinds of furniture you can have.But, CC&R’s can also be an issue in single family neighborhoods. These communities can have rental restrictions such that you get a job transfer and think you can rent your house, but you can’t! They also have strict landscape guidelines as well as rules about things such as paint colors, garage doors being left open, parking of trucks or other items, etc.

When making your Intown Atlanta home or condominium purchase, always make sure your real estate agent obtains a copy of this information during your due diligence period and you have ample time to review it and ask any questions. If you find restrictions you cannot live with, you can terminate your Purchase Agreement and look for another home. But when you close, you will sign documentation from your lender that you acknowledge there is a homeowners’ association and that you agree to abide by all rules.

Also in today’s market, it is wise to see financial statements to learn about the condition of the HOA and their financial stability. With numerous foreclosures in today’s market place, some HOA’s may have not allowed for this loss in revenue and could have reserve issues. This can also become a problem during your lenders’ review of the HOA.

I’m here to help you navigate through all these steps and help you find the right home or condominium that meets your lifestyle needs!

Thom Abbott Midtown Atlanta For 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

Twelve Centennial Park Incredible Offer $125,000

September 8, 2011 by Thom Abbott

Twelve Centennial Park Downtown Atlanta In this real estate market, every Buyer is looking for value. And price. Twelve Centennial Park in Downtown Atlanta is just that!

First off, this community is on the Northern edge of Downtown, making all the fun and features of Midtown Atlanta just a few blocks away! Secondly, as a Novare-built community, you know you are going to have all the features you want in high-rise condominium living.

24 Concierge/Security
Stunning City Views from Floor-to-Ceiling Windows and Balconies
Fitness Center with cardio and stretching areas
Movie Theater and Club Room
Roof-top pool with grilling area and more city vistas

Twelve Centennial Park is also connected to the Twelve Hotel, meaning you can even get room service! Totally cool! Or meet your friends at The Lobby for cocktails before a night out in the city!

The location of Twelve Centennial Park is perfect to enjoy the sporting events help at the Georgia Dome, or Phillips Arena. And Centennial Olympic Park is just around the corner!

Looking for an outstanding building in a great location with awesome amenities….at a great Price? Then you need to call me and we need to visit Twelve Centennial Park TODAY! There are a limited number of homes left in this community! Let’s make one of them YOURS!

Twelve Centennial Park Incentive Flyer Spetember 2011

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400 W Peachtree Street NW #3611, Atlanta, GA

400 W Peachtree Street NW #3611
Atlanta, GA

$475,000
- Lot Size
- Home Size
  
  1,075 sqft
- Beds
  
  2 Beds
- Baths
  
  2 Baths
400 W Peachtree Street NW #2604, Atlanta, GA

400 W Peachtree Street NW #2604
Atlanta, GA

$430,000
- Lot Size
- Home Size
  
  1,127 sqft
- Beds
  
  2 Beds
- Baths
  
  2 Baths
400 W Peachtree Street NW #3801, Atlanta, GA

400 W Peachtree Street NW #3801
Atlanta, GA

$429,000
- Lot Size
- Home Size
  
  1,380 sqft
- Beds
  
  2 Beds
- Baths
  
  2 Baths
400 W Peachtree Street NW #3204, Atlanta, GA

400 W Peachtree Street NW #3204
Atlanta, GA

$409,900
- Lot Size
- Home Size
  
  1,127 sqft
- Beds
  
  2 Beds
- Baths
  
  2 Baths
400 W Peachtree Street NW #1713, Atlanta, GA

400 W Peachtree Street NW #1713
Atlanta, GA

$399,000
- Lot Size
- Home Size
  
  1,127 sqft
- Beds
  
  2 Beds
- Baths
  
  2 Baths

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1010 Midtown Atlanta

April 10, 2011 by Thom Abbott

There is something about that new car smell. You know. Not only the smell, but the fact that you are the first owner. Except maybe for a test driver at the factory, you are the first driver of your new car.

The same can be said about buying your Midtown Atlanta condominium, and you can find that “new car smell” at 1010 Midtown Atlanta. This exciting condo community is one of the few remaining “new car” living options in Midtown today. With the real estate market like it is, it may be sometime before Midtown Atlanta sees new condo construction. So if you are looking for a new condominium home, with that “new car smell” and the pride of being the first owner, then 1010 Midtown Atlanta is just what you are looking for.

As part of the massive 12th and Midtown development by Selig Enterprises, Daniel Corporation and the Canyon Johnson Urban Fund, this development is in the center of all that is Midtown Atlanta.

With restaurants like Ri Ra Irish Pub and Ra Sushi and shopping at CB2, 1010 Midtown Atlanta is a destination in itself. Across the street, the new Loews’ Midtown Atlanta Hotel offers you, your visiting friends and other Midtown Atlanta visitors luxury accommodations.

The homes here, and their views are spectacular. Beautiful finishes (including the lack of the exposed concrete ceiling found in many condos) along with resident amenities that include a fitness center, club room and outdoor roof top garden and pool make this an exciting living option in Midtown Atlanta.

It’s important to remember, when you visit the sales center of any new single family or condominium community, the sales person you are talking to represents the Seller, and not YOU! You should seriously consider being represented through a brokerage agreement with a real estate broker representing YOU.

Here is a great glimpse of the 1010 Midtown Atlanta community. For a more personal tour, why not call or e-mail me!

Castleberry Point Condominiums Castleberry Hill Atlanta GA

April 8, 2011 by Thom Abbott

You’ve heard the saying, “A man’s home is his castle.” As a result, we often care very much about our home or condo, and where it is located. Or how unique the building or location is. Well, I have just the place for you in Castleberry Point Condominiums in Castleberry Hill.

Located at the entrance to Castleberry Hill from Downtown Atlanta, Castleberry Point Condominiums are at the epicenter of Atlanta’s only true and art loft district. While this community is new construction, the area is filled with historic buildings which once housed meat packing companies or textile merchants. Now, this community has been turned into a walkable, livable area, and Castleberry Point Condominiums are the perfect place to call home.

Now, special pricing makes this unique living opportunity even more affordable than ever! Imagine, less than 1 mile from Downtown Atlanta, 3 miles to Midtown Atlanta and you can be at Hartsfield Jackson Int’l Airport in about 20 minutes! And just check out the list of features in this community:

Stainless Steel Appliance Package
Granite Countertops
Ceramic Tile in Bathrooms
Hardwood Floors or Stained Concrete
Rooftop Pool with Downtown Views
Rooftop Decks with Skyline Views (select homes)
Fitness Center
Rooftop Owner’s Lounge
Open-Air Courtyard Surrounded by Galleries, Restaurants, and shops
Controlled Access Building with Assigned, Gated Parking
FHA Financing Available

I mean, just check out this pricing!

Castleberry Point Condominiums Atlanta GA

Real Estate Terms to Know In Georgia (The Brokerage Agreement)

March 12, 2011 by Thom Abbott

Today, I want to continue my series on Real Estate Terms to Know in Georgia by talking (or writing?) about who represents who when you purchase Midtown Atlanta Real Estate or real estate anywhere in Georgia.

We’ve talked about being pre-approved for a mortgage and who’s on YOUR real estate team. Now, let’s talk about who represents you when you buy your home or condominium.

Let’s start with a question? You and your spouse, or significant other, are out for a Saturday afternoon stroll in Midtown Atlanta. You’ve been talking about buying a place, you’ve been searching for a Midtown Atlanta Condo but you have not made a commitment to work with a real estate agent yet. So, you stop into the Sales Center of a building, and meet one of the sales people. They tour you through the building and give you lots of information. Who do they represent?

NOT YOU! They represent the Seller (or in this case, the developer) of the building. So, if you start asking them questions like “How much should we offer on Unit X?” they are not going to give you much of an answer. Why? Because they are working FOR the Seller, not for you. So, you ask, who works for me?

Buyer Agency In Georgia, real estate agents and brokers are licensed professionals who have been trained to help you buy, sell or lease real property. The relationship we (or I) form with you is called a brokerage relationship.

We have two broad categories in which our relationship falls: Broker/Customer or Broker/Client. The latter is the best one for you as a Buyer (my professional opinion) as I am acting as your legal agent in buying property. This relationship ONLY exists when you and I enter into a written agreement, called a Buyer Brokerage Agreement. Now, I could spend pages on this Agreement, and we will review it part as we go through this series. But, by having this agreement with me , or that “other” agent (just kidding!) I am able to not only represent you, but offer you my “mind.” The other relationship, a Broker/Customer, only allows me to do what we call ministerial acts. These include things like provide pre-printed forms, filling them out based on what you tell me, and helping you locate a lender. I often refer to this as “you get my hands and my feet.” But to have my hands, my feet, and my mind (my knowledge of the Midtown Atlanta Real Estate market) we need to have a Broker/Client relationship.

Real Estate Terms to Know in Georgia

Since I am focusing on the Buyer’s side of real estate, I’ll stick with the Buyer Agency. What is Buyer Agency?

Buyer agency happens when I represent YOU, the Buyer by entering into the above reference Buyer Brokerage Agreement. This agreement further details the relationship we have, who can do what, who is responsible for what, and how I, as your broker, get compensated.

Besides Buyer Agency, there is another type of Agency that you as a Buyer should BEWARE of…..Dual Agency. That is when the broker is representing both you AND the Seller. How can that be, you ask? Well, let’s suppose we are working together, and have signed a Buyer Brokerage Agreement. We start our search for that perfect Midtown Atlanta Real Estate for you, and I suddenly think that a listing I have might be just the one for you. If we were to proceed to negotiate on that property, I would now be representing both YOU and the SELLER…DUAL Agency. Just so you know, I do not practice that type of agency. And you should be careful of anyone who does.

That’s a light overview of Buyer Brokerage and Agency. I’ll be happy to discuss it with you in further detail and answer any other questions you might have!