• Home
  • Brookhaven
    • Close
      • Brookhaven Parc
      • Dresden Creek
  • Buckhead
    • Close
    • 2500 Peachtree
    • 2901 Lenox
    • Buckhead Grand
    • Buckhead Village Lofts
    • Cosmopolitan at Lindbergh
      • Eclipse Buckhead
    • Gallery Buckhead
      • Realm Buckhead
    • Walden on Lenox
      • The Winston
  • Chamblee
    • Close
    • Frontier Woods
      • Huntley Hills
    • Keswick Village
      • Lofts at 5300
    • Peachtree Malone Lofts
      • Townsend At Chamblee
      • Variations Townhomes
  • Doraville
    • Close
    • Assembly Doraville
    • Doraville In the News
    • Homes For Sale
    • Northwoods
    • Chestnut Place
    • Third Rail Studios
  • GA TECH
    • Close
    • Off Campus Housing
    • MARTA and Midtown Atlanta
  • “ITP”
    • Close
    • Adams Crossing
      • Ansley Parkside Townhomes
    • Atlanta Beltline
      • Emory University Area
    • LaVista Walk Townhomes
      • NEW Buckhead Listings
    • VIRGINIA HIGHLAND
  • Midtown
    • Close
    • About Midtown Atlanta
      • Historic Midtown Atlanta
        • Choose ATL
      • NEW Midtown Listings
      • Midtown Neighbors’ Association (MNA)
    • Midtown Atlanta HIGH RISE Condos
      • Midtown Atlanta MID RISE Condominiums
        • Seventh Midtown
        • Cornerstone Village Midtown Atlanta
        • 805 Peachtree
        • MidCity Lofts
        • The Dakota
        • Peachtree Lofts
        • Cotting Court
        • 905 Juniper
        • Peachtree Walk
        • 33 Ponce
        • Tuscany Midtown
        • Piedmont Crest
    • Midtown West
      • Twelve Atlantic Station
      • The Art Foundry
      • The Atlantic Residences
      • Element Condominiums
      • White Provision Atlanta Condos
      • M West Townhomes
    • 1 Bedroom Condos 30308
      • 1 Bedroom Condos 30309
      • Midtown 2 Bedroom
    • MARTA and Midtown Atlanta
  • CONTACT
    • Close
    • About Us
      • Testimonials
      • Time With Thom
    • Your TEAM at MyMidtownMojo
      • Michele – Silverton Mortgage
      • Ryan – Highland Mortgage
  • Buyers
    • Close
    • Mortgage Calculator
    • ASK THE BROKER!
    • Buyers Guide
      • Buyer Questionnaire
    • Market Reports
    • RELO TO ATLANTA GA
      • Atlanta GA Relocation Guide
    • Rent Vs. Buy
  • Sellers
    • Close
    • Midtown Market Reports
    • Selling Intown Atlanta Real Estate | Selling Your Home!
    • Short Sales
    • Who Is Palmer House Properties
  • BLOG

Atlanta Condos For Sale

‘Zombie neighborhoods’ worry residents

June 15, 2012 by Thom Abbott

Atlanta Zombie Neighborhoods Pose ProblemsSee on Scoop.it – Midtown Atlanta Conversations and Condos

A Marietta man’s dream home has become a nightmare because of a  so-called “zombie neighborhood” next door. Vacant Atlanta real estate developments pose problems for those living close to them.
See on www.myfoxatlanta.com

NOTE:  Photo taken of similar type subdivision in Livingston, Montana.

Filed Under: Atlanta Real Estate For Sale Or Rent, Blog Tagged With: Buyers, foreclosures

California Audit Finds Broad Irregularities in Foreclosures |What About Atlanta Foreclosures?

February 16, 2012 by Thom Abbott

Intown Atlanta real estate foreclosuresVia Scoop.it – Other Atlanta News Events

The findings of San Francisco county officials suggest how pervasive irregularities may be across the nation.

I’ve not hear of any such audit or review in Atlanta foreclosures, but you have to wonder?
Via www.nytimes.com

Filed Under: Blog, Real Estate Tips Tagged With: foreclosures, Intown Atlanta Real Estate

Short Sales are the Answer

March 11, 2011 by Thom Abbott

Phillip really hits the nail on the head with regards to banks needing to change they way they do business. Hello? Have we brokers not changed how we do business (i.e. Internet, etc)

Banks would do well to look at their process and make some serious changes….or at least we can wish, right?

Thanks Phillip!

Via J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY:

Complete dedication to playing I am going to bang a drum I have been banging since the sub prime crisis in 2007 began to erode the equity of so many people, and it is simple: if the housing market is going to recover, we have to have to do better than a 20th century solution to our 21st century problem. We are facing the largest liquidation of property in the history of the republic, yet banks are doing nothing differently to dispense with their toxic assets than they were in the 1930’s, which is to foreclose, repossess, and dump.

I would strongly assert, having worked with default properties a chunk of my career, that short sales are the answer to restoring the market to equilibrium and recovery, and yet lenders still have to be dragged kicking and screaming to the closing table when they ironically net far less after far longer on the REO side, where they are suddenly in a ridiculous hurry.

The advantages are enormous:

  • In a short sale, the bank doesn’t have to take 1-2 years to repossess the home. They avoid having a non-performing asset any longer than they have to. They get their money faster.
  • In a short sale, there are no legal fees associated with a foreclosure. They save money.
  • In a short sale, the bank does not have to manage the property, put the utilities in their name, or winterize the property except in rare cases. No preservation company expenses, property management overhead, winterizations or utility costs. They save carrying costs.
  • No evictions. Short sales are seldom boarded up, vandalized, or vacant. They therefore net the lender more money.
  • No sheriffs deeds, no right of redemption headaches.
  • No title ambiguities, which is a big concern in the wake of the foreclosure moratorium.

The short sales help the borrowers as well, because they are able to dispense with the property with dignity, avoid the credit catastrophe of a foreclosure, and re-enter the pool of buyers far sooner and with less shell shock and trauma the rest of their lives.

    Homes are special. Not just assets. Sadly, the architecture of lenders is still that of 15, 25 and 50 years ago: None of the brighter bulbs work in liquidation or loss mitigation, and the staff on the REO side is the only part of their workforce motivated to sell and close. That is fine when foreclosures and distress are rare and relegated to deadbeats, but the USA didn’t become a nation of deadbeats in the last 18 months, we had our bank accounts raided. We lost our jobs. We lost our equity. And folks deserve better than hourly grunts who lose faxes, watch clocks, and treat red tape like a badge of honor.

    Moreover, the American people deserve executives who can show a modicum of remorse or contrition for their royal screw up, are willing to change their corporate culture to adapt to the need for more short sales in a shorter time frame, and, maybe, just maybe, stop referring to the property in abstract terms like “assets” when they should instead understand that these are their lifeblood customers, and the “asset” is that lifeblood’s home.

    It is a shame that there is no political will on either side of the isle to hold lenders feet to the fire to affect meaningful change, and defaulted homeowners must contend with a mad race to work a miracle with an uncaring, unresponsive monolithic entity before that monster forecloses, repossesses their home, wrecks their credit and crushes their dreams. This is not progress.

    Feed your mind.

    • J. Philip Real EstateWe Are Westchester County & Hudson Valley NY Real Estate. Reach Phil at (914) 723-8900.
    • J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. Vice President, Empire Access Multiple Listing Service.
    • I am one of New York’s premier short sale REALTORS, serving Westchester & the Hudson Valley.
    • J. Philip Serves Briarcliff Manor, Ossining, Croton, the River Towns, Westchester County, and the bedroom counties of New York City.
    • Free MLS Search! Register for a Free Listingbook account and search the MLS like an agent.
    • I am hiring agents. We offer outstanding support, marketing resources, and pasta.
    All content/images, unless noted, are the property of J. Philip Faranda & may not be used without permission

    Filed Under: Real Estate Tips, Sellers Tagged With: foreclosures, midtown atlanta real estate, News

    GMAC… Payments or Not, The Foreclosure Machine that Just Won’t Stop – Mandelman Matters

    January 15, 2011 by Thom Abbott

    GMAC… Payments or Not, The Foreclosure Machine that Just Won’t Stop


    Once upon a time…

    Our story begins back in 1995 when Michael and Pamella Negrea built their 2400 square-foot, colonial style home in Eastlake, Ohio, and took out a $200,000 mortgage.  Michael’s 53 years old, a Willoughby, Ohio police officer for 25 years… Pam, a graphic designer, is 57.  They’ve never been late on, much less missed a single mortgage payment.  Nary a one… they should be quite proud.

    Since that time, however, GMAC has foreclosed on Michael and Pamella Negrea’s home three times… so far.  The couple’s attorney, Stephen Futterer, also of Willoughby, says…

    “It’s like a foreclosure machine.  It won’t stop.”

    Read the Entire Story Here!

    ABSOUTELY INCREDIBLE STORY WORTH READING!

    Filed Under: Interesting Stories Tagged With: foreclosures, News

    Jobless Benefits? Where Can I Get Help?

    December 15, 2010 by Thom Abbott

    Jobless Benefits? Where Can I Get Help?

    Jobless ManIt’s no secret that if you are not employed, you are probably NOT going to be buying a home. You could call it the Perfect Storm! Unheard of interest rates, and you can’t take advantage of them.

    While somedays, selling real estate FEELS like being jobless, it’s probably not quite the same. But, when I learned about this web site that has information on over 1,000 benefit and assistance programs, I just had to spread the word.

    Life can be pretty tough out there right now…I know. So if I can help by passing along some information, I’ll feel I am a better person for helping someone. Just click on the picture below to be taken to the official benefits website of the U.S. Government for jobless benefits and where you can get help.

    Government Benefits

    Filed Under: Interesting Stories, Random Topics Tagged With: foreclosures, News

    Midtown Atlanta Foreclosures, Midtown Atlanta GA Real Estate

    October 5, 2010 by Thom Abbott

    Midtown Atlanta Foreclosures, Midtown Atlanta, GA Real Estate

    Midtown Atlanta Condo ForeclosuresAre you looking for a condo or single-family home foreclosure in Midtown Atlanta, GA? The good news is, if you are looking for a condo, most of them will be in relatively good shape. I’ve not seen to many that required extensive repairs. Even if a condo has been vacant for sometime, it usually still had water service, but the power most likely has been turned off. If you are looking for single-family home foreclosures in Midtown Atlanta, GA you will want to proceed with caution. Many of these homes are much older, and “lack of use” could compound problems they may already have.

    There are numerous ways to look for a foreclosure in Midtown Atlanta, GA. You can look at the current condo foreclosures and single-family foreclosures yourself. (Note, if these searches are not working, please feel free to use the Search For Homes feature above, or just contact me and I will be happy to give you an updated list. Currently in Midtown Atlanta, GA there are 54 condo foreclosures/lender owned properties and 14 single family homes. BOTH of these numbers are down slightly from May when we last wrote about foreclosures in Midtown Atlanta, GA. Condo prices range from $1.375 Million to $29,999. (This low priced condo is actually outside of Midtown Atlanta…I happened to search today by our primary zip codes for Midtown. Single-family homes range in price from $1,950 Million to $85,900. (This low priced home is actually in Old Fourth Ward, again I searched by zip codes which will take one out of Midtown Atlanta proper.) You can also find foreclosures listed at online auction sites and Craigslist and I would be happy to help you purchase any of these great values.

    To begin the process of buying a condo foreclosure in Midtown Atlanta, GA, you first need to be pre-approved for a mortgage. Why? Because many foreclosures, if priced right, will move quickly and you will want to know how much you can afford and how much you are willing to spend, AND be ready to act quickly. These two numbers may not always be the same. I would first suggest you contact my preferred lender, Brian Dover with Sharpe Mortgage. Brian knows the condo market in Midtown Atlanta, GA and will get you started on the right track and both of us will get you to the closing table!

    Foreclosure Condo To Do ListOnce you find the home or condo in Midtown Atlanta, GA you are looking for, you will need to have a variety of inspections done, depending on whether it is a condo or single family home. The condo will likely require less inspections, but will require more knowledge about the condominium home owners association (HOA) and how financially stable they are. Condo owners pay a monthly maintenance fee to maintain the common elements (those areas of the building shared by everyone such as the pool, garage, lobby, etc) and if the community has not planned for a delinquency in these payments, they could have problems. Especially if it is a smaller community. I can assist you in obtaining that information in the time frame allowed within your contract. This time period, often referred to as the “due diligence” is the time you are allowed to complete inspections, assessments, finalize your financing and any other steps necessary to make sure the home or condo is in good condition and you are ready to move forward towards the purchase.

    I have sold several foreclosures in Midtown Atlanta, GA and the buyers are very happy home owners, enjoying the condo life and living in Midtown Atlanta, GA. Keep in mind, there can be other condos or single family homes on the market, and NOT in foreclosure that could also be an option for you as a Buyer, if they are priced right.

    If you are interested in purchasing Midtown Atlanta, GA real estate or a foreclosure in Midtown Atlanta, GA click on the link above, “Ask Me A Question” or call me at 770-713-1505. I would be happy to answer any questions that you might have!

    Filed Under: Condominiums of Midtown, Market Reports Tagged With: foreclosures, Midtown Atlanta Condominiums, midtown atlanta condos for sale, midtown atlanta real estate

    Thom Abbott

    Associate Broker, REALTOR(R)
    905 Juniper Street, NE Suite 110
    Atlanta, Georgia 30309
    770.713.1505 Direct
    404.876.4901 Office

     
     
     
     
     
     
     
     
     
     

    HomeSmart

    Copyright © 2025 Thom Abbott MyMidtownMojo.com All Rights Reserved | Privacy Policy | Cookie Policy | Terms of Service | Disclaimer | Log in