Via Scoop.it – Midtown Atlanta Condos
Cities struggled financially in 2011, but that doesn’t mean big urban projects aren’t on the way. The List includes The Atlanta Beltline! It’s so nice to be on a nice list!
Via www.smartplanet.com
Renting In Midtown Atlanta – What to Expect?
So you are ready to call the center of Atlanta home! Awesome! But you need to know What to Expect when Renting In Midtown Atlanta.
First off, most of your rental opportunities in Midtown Atlanta will be of the condominium-type. There are limited single family homes, and those that there are, come pretty big!
When Renting in Midtown Atlanta, you should expect to make a decision quickly in this rental market. If it is priced right, and in a good location, it is going to move fast.
Don’t expect Renting In Midtown Atlanta to be cheap. Remember, you are not renting an apartment. You are renting a condominium that is either the personal home of someone or is owned by an investor. Either way, they have a mortgage, property taxes, insurance and home owners association dues to pay. Most property owners don’t expect to have all of these expenses covered in the rent they charge, but they certainly want to at least cover their mortgage. For a respectable one bedroom condominium, you should expect to pay from $1000 to $1600 per month. (A $1000 should be considered a bargin and unless its in a run down building….JUMP on it!) A two bedroom could range from $1800 to $2500 per month. Rental rates will vary based on what the owner is hoping to cover from the rent, and what they may have initially paid for the home. If they bought at a lower price, they maybe able to rent for a lower amount.
When Renting in Midtown Atlanta, expect to pay a deposit equal to one month’s rent. This is a “standard” amongst condominium rentals, and again it’s not like an apartment complex where the landlord owns the entire building. Again, you are renting from an individual owner who wants to have some “security” in case you skip out on your rent, or cause damage to the condo.
Expect to fill out an application, provide previous rental history, employment history and have a copy of your credit report pulled. Additionally you may need to provide a copy of your driver’s license and paycheck stubs to verify your identity and your income.
Renting in Midtown Atlanta will help you learn the area and what it’s like to live in an urban area as well as a high-rise building.
Looking to rent in Midtown Atlanta? I’d be happy to help you, and completing our Rental Questionnaire is the perfect place to start.
If you are currently renting and have wondered about the possibility of owning a Midtown Atlanta condominium, why not contact me? I can answer any questions you might have about the differences of owning versus Renting In Midtown Atlanta and what to expect.
For More Information on how we can best serve your InTown Atlanta Real Estate needs, please fill out the online contact form or call us at 770.713.1505.
We specialize in InTown Atlanta Real Estate single family homes and condomiums. If you are planning to Buy InTown Atlanta real estate, let us help you explore all the possibilities available to you and help you find just the right home you will LOVE!
Please use the following links to Search for Homes by Intown Atlanta Neighborhoods or Zip codes!
Are you looking for a specific Intown Atlanta neighborhood to focus on? Contact Thomas Ramon Realty and we can set up a search for any specific neighborhood you are looking for!
What Makes a Community Walkable?
When I am contacted by potential Buyers or renters looking to live in Midtown Atlanta or other Intown Atlanta neighborhoods, I’m often asked, “Is it a walkable area?” Well, exactly What Makes a Community Walkable?
While various factors come into play, here are some key points about walkability and how it makes a neighborhood better, safer and improves the quality of life:
Lower Transportation costs —
In a walkable community, your car is parked more and driven less. Fewer car trips mean a lower monthly fuel cost.
Healthy Lifestyle —
By living in a neighborhood that is walkable, you tend to get more exercise and be in better health. The air can be cleaner too. So that trip to the pasta restaurant is no so bad, because you burn some of it off on the walk back home!
Less Traffic Congestion —
One-fourth of all car trips are less than one mile. (I’d say it’s probably MUCH higher in the Atlanta area) If you have sidewalks, safe street/road crossings and accessible services like shopping, markets and such, you can leave you car and wak to do these activities.
Reduced Crime —
A neighborhood that has more street/foot traffic means there are more eyes on the street. People watch out for each other and have more of a tendency to know their neighbors. Even if you live in a high-rise condominium building, by walking in and out of your building and up and down the streets, you start to see people that live in your building or neighboring buildings.
A great website to help you learn about the walkability of a neighborhood is WalkScore.com This site, gives Midtown Atlanta a score of 75 out of 100, making it a very walkable community.
While living in an Intown Atlanta neighborhood can reduce your driving, many of the older neighborhoods are walkable from the sense of walking your neighborhood, but needed services like shopping and markets require a car. Midtown Atlanta offers many of the services it residents need and as more retail opens in the coming years, it will be even more walkable that it already is.
For More Information on how we can best serve your InTown Atlanta Real Estate needs, please fill out the online contact form or call us at 770.713.1505.
We specialize in InTown Atlanta Real Estate single family homes and condomiums. If you are planning to Buy InTown Atlanta real estate, let us help you explore all the possibilities available to you and help you find just the right home you will LOVE!
Please use the following links to Search for Homes by Intown Atlanta Neighborhoods or Zip codes!
Are you looking for a specific Intown Atlanta neighborhood to focus on? Contact Thomas Ramon Realty and we can set up a search for any specific neighborhood you are looking for!
HOMEOWNERS INSURANCE – Do You Have The Right Policy?
There is probably one thing we all kinda sort of hate to pay for and that is insurance. Car Insurance, health insurance, and even homeowners insurance. But when we need it, it’s a pretty hand thing to have. But, PoliHomeowners Insurance – Do You Have The Right Policy?
A perfect example is when my clients don’t realize that they need a landlord policy when they rent their home out. If a tenant burns down their house and they don’t have a landlord policy, they’re out of luck! Or clients buy a house and don’t move because they plan to renovate. The house is vandalized, but the carrier never knew it was a vacant home… Again, they’re out of luck. Let me remind you now to call your insurance agent and get the information you need to have the right policy.
You may pay more, but it will save you thousands if something goes wrong.
Make sure you have the right kind of hazard (homeowner’s) insurance for your property
It is very simple to set up your homeowner’s insurance when you are closing on a new house or condominium and moving in within a day or two, but there are many other situations in which you the buyer and/or seller should confirm that they are protected by insurance:
1. Buyers have sold property in another state and moving belongings here: Are their possessions covered in transport by either the old policy or the new one?
2. Buyers are closing now but not moving in for a few months (e.g. when school is out): Does their policy cover damages or vandalism to a vacant house?
3. Buyers are closing now but doing extensive remodeling work for 3-6 months before moving in: Does their policy cover injuries to contractors (or even nosy neighbors) in the house? Is the house covered while it is still vacant?
4. Sellers are closing but staying in the house for a few months: Does their previous homeowner’s policy protect them or the new owners? Should the buyers have a landlord policy until they actually move in?
5. Sellers allow the buyers to move in prior to closing: Should the sellers convert their policy to a landlord policy? Does it help for the buyers to start coverage on their policy?
These questions can only be answered by the insurance agent who is insuring the property. Make sure you have all questions and answers in writing in case it is necessary to file a claim. Once a claim is made for damage, theft, or injury, it is too late to correct the policy.
For More Information on how we can best serve your InTown Atlanta Real Estate needs, please fill out the online contact form or call us at 770.713.1505.
We specialize in InTown Atlanta Real Estate single family homes and condomiums. If you are planning to Buy InTown Atlanta real estate, let us help you explore all the possibilities available to you and help you find just the right home you will LOVE!
Please use the following links to Search for Homes by Intown Atlanta Neighborhoods or Zip codes!
Are you looking for a specific Intown Atlanta neighborhood to focus on? Contact Thomas Ramon Realty and we can set up a search for any specific neighborhood you are looking for!
How Do I Short Sale My InTown Atlanta Home or Condominium?
As I meet with Sellers each week, we often determine that they are “upside down” in their Intown Atlanta home or condominium. What exactly does that mean? That they own more on their mortgage than the property is worth. We then discuss options and when we discuss short sales, I’m asked, How Do I Short Sale My Intown Atlanta Home or Condominium?
First and foremost, you must qualify for a short sale. You must have a financial hardship before most lenders will consider a short sale for your Intown Atlanta home or condominium. While some will say you do not need to be behind on your payments to do a short sale, you may find that some lenders will not consider your hardship until you are 90 days behind on payments. This can be determined once we know who your lender is and what their policies are.
The first three criteria you must meet are:
- Owe More than the house or condominium is worth
- Demonstrate that the house or condominium cannot be sold for the amount owed
- Suffer from a legitimate financial hardship that makes the mortgage unaffordable.
Your real estate agent can help you determine Number 1 and 2. Number 3 is determined by your current situation. If you have lost your job, have a medical issue, or have relocated to another city, you have a financial hardship to pay your mortgage.
Once we have determined these criteria, we then need to have you sit down with our short sale attorney to assemble your short sale package. Some of the doucments maybe sent to your lender immediately, and others will go as a complete package to the lender once an actual Purchase and Sale Agreement has been received your home. These documents will include:
- 2 Years Most Recent Tax Returns
- 2 Months Banks Statements
- Last 2 Months Paycheck stubs
- Last Mortgage Statement
- Most Recent HOA Statement and Contact information for same (if you have an HOA)
- Most Recent Property Tax Bill
- A Hardship letter detailing and describing your situation
- Listing Agreement from your real estate agent
As a real estate agent, we are not lawyers nor accountants. Part of this process should be to meet with either or both of these individuals so you understand all options and liabilities involved and the consequences for you , the Seller.
Ideally, the documents are sent into the lender and a Broker Price Opinion (BPO) will be ordered by your lender. This is a key factor in the negotiation process. If the attorney is able to obtain a BPO number, this better helps you know the likely success of your short sale. If the bank comes back with a higher value than your real estate agent initially determined in setting your sales price, adjustments may need to be made. These are some of the steps we take to Short Sale Your Intown Atlanta Home or Condominium.
In our next post, we’ll talk about getting an offer on your home, and what it should contain to protect both you and the Buyer.
What is an Atlanta Short Sale?
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
Hudson and Marshall Announce Next Georgia Real Estate Auction
Attention Prospective Buyers, Investors and Agents:
Hudson & Marshall will be in the Southeast (GA, AL, TN, NC & SC) area soon!
The live auction series will begin on December 14th – 20th, 2011. They have started posting properties being offered for the auction on their website. More properties will be added soon, so be sure to check back.
You might want to read up on Buying at an Auction. These are high paced and sometimes frantic events so you want to be prepared.
To view additional properties exclusively offered in the “Online Only” auction please click Georgia Online Auction. The availability of a property can change, please refer to our website for real time updates or contact Hudson & Marshall. Should you have any questions, please contact them at 866-518-9060 or view the frequently asked questions on our website.
Whether buying directly from a Seller or attending an auction, you should consider having representation as a Buyer. We would be happy to discuss this process with you!
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
