Midtown Atlanta Buyers Guide Archives -

Midtown Atlanta 2018 Year End Real Estate Market Report

March 23, 2019 by Thom Abbott

Midtown Atlanta is most often referred to as the most walkable neighborhood in all of the Metro Atlanta area. And that certainly is true. Step out the door of your home or condominium, and lots and lots of restaurants, some shopping, two MARTA transit stations, theater and art museums are all within walking distance. Not to mention the numerous festivals that happen each year in Midtown Atlanta’s “backyard” …. Piedmont Park.

A majority of the living options in Midtown Atlanta consist of condominiums and apartments. The area known as Historic Midtown is the only area with single family homes.

For the purpose of this report, we tried to outline what is considered Midtown in the MLS, as indicate in the photo on the right.

Midtown Atlanta 2018 Year End Real Estate Market Report

Disclaimer: As we do this “15,000 ft overview” of the Midtown Atlanta market, we attempted to keep the search as indicate in the map above. So places like Ansley Park or Atlantic Station are NOT represented in this report.

Single Family Homes

Single family homes in Midtown Atlanta, are found in what is referred to as Historic Midtown, and area primarily defined by 10th Street, Monroe Drive, North Avenue and Piedmont Avenue.

There were 25 homes that sold in 2018, ranging in price from $500,000 to $1,680,000. CLICK HERE to see the report.

Condominiums/Townhomes

Midtown Atlanta is best known for condominium living. And the choices range for converted homes with only 4 units to major high-rise buildings with 400 homes! And as you can see in this 2018 Year End Report, there is a range of prices! There were a total of 667 sales in the area for 2018!

86 condominiums sold between $500,000 and above. This accounted for about 13 percent of the market

78 homes sold between $400,000 and $500,000 or about 12 percent of the market.

160 homes sold between $300,000 and $400,000, about 24 percent of the market.

343 homes, or 51% of the Midtown Atlanta condo market sold for less than $300,000.

82 condos sold for less than $200,000 or about 12 percent of the total sales.

CLICK HERE to see the Complete 2018 Market Report — $500,000 Plus

CLICK HERE to see the Complete 2018 Market Report — $400,000 — $500,000

$300,000 — $400,000 CLICK HERE

$300,000 or less CLICK HERE

What’s The Real Estate Market Like In Midtown Atlanta?

Midtown Atlanta’s real estate market is still moving strong in 2019. However, we are starting to see some homes remain on the market longer and not the past frenzy of offers (and sometimes multiple offers) within a day of going on the market. 2019 will also see the values moderate. This is a GOOD THING, AND NOT A SIGN OF ANY TROUBLE! A real estate market cannot continue at 6% or more appreciation each year. If that were to happen, Midtown Atlanta, or ANY area of Atlanta could quickly become unaffordable to many people. So we look forward to continued price and value appreciation, but just not as dramatic as we have seen in the past few years.

If you are looking to Buy or Sell a home in Midtown Atlanta, MyMidtownMojo.com can help!

Selling? Do you want to sell your Midtown Atlanta 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 Midtown Atlanta 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!

Contact MyMidtownMojo and Thomas Ramon Realty@Palmer House Properties at 770.713.1505 or Info@MyMidtownMojo.com for all your Midtown Atlanta real estate needs!

How Much are the Utilities In a Condo?

October 24, 2016 by Thom Abbott

When I’m working with a condo buyer, there are many questions that come up during the search process, and I do my best to answer every single question. Some have very specific answers, while others the answer will vary.

How Much are the Utilities In a Condo?

Because many of my Buyers have not lived in a condo before (maybe an apartment which can be the same, depending on the utilities) they want to know, and understand the costs. When I’m asked for this information, I then try and get it from the Listing Agent, who hopefully will have done THEIR homework in taking the listing and getting this information.

In most Atlanta condominiums, the electricity is billed separately through Georgia Power Company. In some buildings, the water and sewer are included in the monthly HOA (homeowners association) dues. But many newer buildings have meters whereby the individual owner is billed for their water and sewer. And older buildings have had them installed. The primary reason is because water and sewer in the city limits of Atlanta is more expensive due to rate increases that were passed to offset major repairs to the city’s water system.

Now, even a water bill will vary if you run your dishwasher or washing machine frequently, take numerous showers or baths. You want to monitor your water bill for changes. We recently had a tenant-occupied condo where the water bill kept climbing each month, along with the electric bill. Guess what that meant? Yep….water heater went bad. And that was a $1500 repair. (Hence, why asking for a home warranty during our contract negotiations can be important if you know the condo has an older water heater.

Electric bills are usually pretty modest, because of the type of construction, along with the fact you usually have a home on all sides of you. This provides insulation. But there are some factors that can make your electric bill climb:

What temperature do you keep your thermostat at? 68? 72? Higher or lower?
Do you open your balcony doors and still have the A/C or heat on?
Which direction does your condo face? East gets the morning sun and West gets the afternoon sun…and
If you leave your blinds open, your A/C may work overtime trying to keep your condo cool.
Did the previous owner work from home, or travel? Being home all the time means more things on!
If an older condo, you may not have an efficient system, and it uses more juice!

Other utilities you will pay will be for your cable TV, and that too will vary based on the kind of package/number of channels you have.

Overall, utilities in a condo will be cheaper than a single family home, but it’s good to know what the history is so you can plan!

If you are looking to buy or sell an Atlanta condo, just contact us at 770.713.1505 and we can help you gather this kind of information to make the sale of your condo easier!!

Atlanta Relocation Guide | What Is the Weather Like In Atlanta?

November 24, 2015 by Thom Abbott

There is a long list of things to like or love about living in Atlanta. And the weather ranks right up there. You could say that Atlanta is a city for all seasons, since we do have all four of them…Winter, Spring, Summer and Fall. Now, live here for awhile and you might find (or agree) that some of them are longer or shorter than others. Indeed.

Atlanta Relocation Guide | What Is the Weather Like In Atlanta?

Winter …. This season is supposedly from December to February. How do you define Winter in Atlanta? When the temps get to freezing? Then it can start in November! And the end of Winter is no different. It can run into March, and our last date for a frost is always the 2nd week or so of April. So, for those wanting to get crazy planting flowers and such….you just have to hold on till that frost window is gone. But you can have many days that are in the 60’s for a high and only 40’s for a low.

Does Atlanta get snow? Yes we do. Sometimes a little. Sometimes a lot. And it does not take much snow in Atlanta to make the city freak out and shut down. But that is because it is often in the form of freezing rain, followed by snow, or the other way around. And in a city with hills and few snow plows, it does become a challenge to get around. If snow is in the forecast, you just plan ahead for groceries, have your car gassed up (not that you will be driving anywhere..I just know that from growing up in Montana!) and plan to work from home for a day or two. If you have an employer that insists you get to work, you might want to have a talk with them.

Spring… This season is supposedly from March to May. You know Spring is in the air, when you see yellow clouds and yellow dust covering everything. This, my friend is pollen. And he may not be your friend if you have allergies! But, it is a small price to pay for the beautiful, wooded canopy that covers the city!! Spring temps are in the 70’s and maybe 80’s….but it is this season that just one day changes and …BAM!!! It’s hot and it’s….

Summer… Anyone who has ever spent time in Atlanta during the Summer, knows how Atlanta was nicknamed “Hotlanta!” And this is one reason we stress to condo buyers that your building have a pool. You WILL thank me later! One advantage is Atlanta is less than 2 hours from the North Georgia Mountains…where the temp is always much cooler. And you will find lakes all around Atlanta, both almost in the city (Lake Lanier and Lake Allatoona) and in the mountains, and central Georgia, like Lake Oconee and Lake Sinclair. If you can afford to have a second home, a lake or mountain cabin is awesome…and you are sure to have lots of friends!

Fall… from September to late November is simply breathtaking. You can take a drive to the mountains to catch Fall colors, but you really only have to drive through any neighborhood and you will catch vibrant colors everywhere!! The temperatures moderate and make outdoor activities very enjoyable.

As you can see, Atlanta has the joy of enjoying all the seasons, our Winter not being as harsh as being up North, but not having constant warm weather you may find in Florida. It really is a great part of living in Atlanta!

Buyer Tips For Midtown Atlanta Real Estate

September 27, 2013 by Thom Abbott

CONGRATULATIONS!

You’ve made the decision to become a home owner! Believe me….I know the anxiety and the emotions you are feeling. Not only have I purchased and sold several of my own homes, but I work daily with people just like you! I’m here to help you every step of the way.

These Buyer Tips For Midtown Atlanta Real Estate are about some of the steps you should take to protect yourself during the home buying process. These steps are not really about the process, but just some things to keep in mind as you purchase your home or condominium. You can learn more about the buying process by reviewing and reading our Intown Atlanta Real Estate Buyer’s Guide.

Reading and Keeping Copies of EVERYTHING!

The real estate or home buying process is not with out a few sheets of paper. Seriously! While you will have gone through some of the paper process with your loan application, the next big document will be the Purchase and Sale Agreement. Now, this won’t be a strange document to you when you work with me. At our first initial consultation, I’ll have given you a blank copy of every document related to the purchase so you’ve had a chance to look them over and know what they are about.

The Purchase and Sale Agreement is a legally binding contract that obligates you to complete the purchase of the home or condo we’ve found! There will be various timelines (or deadlines) established by this contract, and I’ll be right alongside you to help make sure we meet each and everyone of them. Critical deadlines are your Due Diligence Period (when we will do your inspection) and your Appraisal and Financing Contingencies.

Home Inspection

Speaking of Due Diligence and inspections….you should ALWAYS have the home or condo you are buying inspected by a professional home inspector. (We have two great recommendations on Our Team Page here. While a condo may have less issues to address, most homes have at least a few item that me need to be repaired, or even replaced.

A home inspector will do a detailed inspection of the systems such as plumbing, electrical and appliances. This is mostly all you can check in a condo. In a single family home however, there are more things to look at like the roof, gutters and foundation and a basement, if there is one.

Once the inspection is completed, we will receive a report that we can review and determine which items we want to request be repaired. This is somewhat of a “second negotiation” after you are already Under Contract. It can be one of the times that your home purchase can be derailed if the Seller is unwilling to make repairs (if they are significant enough) or make any concession in the agreed upon price of the home.

The Neighborhood

When you are searching for a home or condominium, the neighborhood, or location is every bit as important as the home itself. You should take time to familiarize yourself with the area.

Are you moving from a quite suburban home with a yard to a high rise condo in Midtown Atlanta? Well, you might see that there is a difference in the noise levels of outside activity you hear. Just because you bought on the 27th floor, does not mean that you won’t hear cars or emergency vehicles. If you sleep with your balcony doors open (when the weather is cool!) you are certain to hear even voices from the street.

You want to look for both the desirable and undesirable conditions. Will you find the “perfect” place? Probably not…but we will get really darn close! There might be a Publix Market on the ground floor of Plaza Midtown, but if your view includes the Downtown Connector, this might not be what you are looking for. If there are vacant lots in the vicinity of the building you are looking in, you can do further research via local planning authorities as to what (an how high it could be that would affect your view) can be built there.

You should also consider purchasing a Home Warranty. Often times this can be negotiated to be paid for by the Seller of the property. If not, you may want to consider purchasing one on your own. They don’t cover everything, and often times have many exclusions, but can be worth it. They can cost up to $575 per year, but the cost of replacing a hot water heater can be more than that.

If you have other questions about the home buying process, just ask me! I’m here to help you make the biggest purchase of your life one of the easiest!!

Atlanta Condo Inventory Is Going, Going, Getting There!

September 25, 2012 by Thom Abbott

Atlanta Condo Prices Rise 23 Percent — Midtown Atlanta Skyline

When you are a real estate professional, you, eat, sleep and breath real estate. It’s your life. It’s not like the corporate world where at 5pm, you turn out the lights, head out the door and don’t think about your job till tomorrow at 8:30 when you turn the lights back on. Real estate for me is 7 days a week. As part of that life, you are constantly monitoring news and events that can affect your business. A company announces new jobs, that could mean relocation employees.

So the article in The Atlanta Business Chronicle this past week about Atlanta’s condo inventory, was music to my ears! And it should be to yours too, if you are an Atlanta condominium owner. The 2012 Midyear Condominium Report from Haddow and Company shows new condo inventory at 1,520 units, DOWN from the 2011 Mid Year number of 2,369 unsold units. Break out the champagne!

We are at inventory levels that have not been seen in 10 years! And with steady sales in 2012, the supply and demand is coming back in balance. If you want to purchase new construction condos in the Intown Atlanta Market, your options are becoming limited. Take that a step further to Midtown Atlanta, and your options are….1010 Midtown and White Provision. Buildings like Luxe and Viewpoint Midtown have long Sold OUT! You can step over the Midtown line going North on Peachtree and you have The Brookwood and The Astoria. Downtown offers the W Residences and Twelve Centennial Park. (Castleberry Point in Castleberry Hill has live/work homes available but has sold all their remaining inventory!) Our biggest challenge in the Atlanta condo market has been…price. During our condo boom, they buildings were popping up everywhere! Investors and owner alike were buying them up, but when the bubble burst, out poured short sales and foreclosures, drowning the prices. But the times ARE changing! The article states that in July, 2012, condo prices were up from $154,000 in July, 2011 to $189,000 in July, 2012…a healthy 23 percent increase! As I prepare my August, 2012 Midtown Atlanta Market reports, I’m seeing the same trend. Some buildings have seen as much as a $50,000 Average Sales Price increase from 2012!! What does this mean for the Buyer? Well, $50,000 can make a big difference in what you may qualify for in a mortgage, and what you will be able to buy. The longer you sit on the fence, the shorter the grass (your buying opportunity) is going to be. What does this mean for the Seller? If you are in a position (and desire) to sell your condo, with limited inventory, you very well may see that contract in a matter of days, not weeks. It may still be a challenge between what you get and what you paid, but with limited options for Buyers, we are starting to see multiple offers on properties! I think we usually refer to a “breath of fresh air” as relating to the Springtime, right? Well, Fall is in the air, the air is crisp, and the Buyers are looking! 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

Real Estate FAQ’s | Does My Interest Rate Really Matter?

July 5, 2012 by Thom Abbott

You’re getting ready to buy a new home or condominium! How exciting! We have been working together for the past few weeks to find you the right home. And part of that process is having our Team help y0u get your mortgage. So, I’m often asked by Buyers, Does My Interest Rate Really Matter?

Well it sure does! Currently, interest rates are at an all time low…Like BELOW 3 percent! But what happens when the rates start to go up, and as they say, what goes down, must come back up! Wait, maybe that was the other way around? Anyways…

Take a look at this chart and see the difference in buying power between 3.5% and 5.5% —

$237 per month could certainly make difference in the type of home you buy. In fact, if $898 per month (not including the taxes and insurance) you would have to look at a home that is $50,000 less in price to still be in your budget. $50,000 in a house or condo price can be a world of difference as to what you buy.

If you have been “sitting on the fence” thinking about whether to buy or not, just keep in mind that if, and when, interest rates go up, your buying power and the size of your home, might go down.

Midtown Atlanta 2018 Year End Real Estate Market Report

Single Family Homes

Condominiums/Townhomes

Contact MyMidtownMojo and Thomas Ramon Realty@Palmer House Properties at 770.713.1505 or Info@MyMidtownMojo.com for all your Midtown Atlanta real estate needs!

How Much are the Utilities In a Condo?

Atlanta Relocation Guide | What Is the Weather Like In Atlanta?

CONGRATULATIONS!

Reading and Keeping Copies of EVERYTHING!

Home Inspection

The Neighborhood

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