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Atlanta Condos For Sale

5 Reasons Not to Prop Open Condo Doors

February 16, 2025 by Thom Abbott

Do not compromise building securitySometimes, I hear things in my daily real estate life (or see them in person) and I just go, “Seriously, WHAT WERE YOU THINKING?” 

Let’s see….there is throwing things off your balcony, from lit cigarettes to actual garbage, fireworks off your balcony…YES — I have seen that! 

But one reason many of my Buyer clients purchase a condo, is for the security that the building may offer. Now, of course not all Midtown Atlanta Condominiums have the same type of security, but your newer, high-rise buildings do have more features. But these features can be easily compromised…and here are 5 Reasons Not to Prop Open Condo Doors! 

Security is a major concern in high-rise condo living, and propping open exterior doors can create serious risks. Here are five key reasons why residents should never do it:

1. Compromises Building Security

Propping open an exterior door allows unauthorized individuals to enter the building without screening. This increases the risk of trespassing, theft, or even more serious crimes.

2. Puts All Residents at Risk

A single open door can make the entire building vulnerable. Residents expect controlled access for safety, and leaving doors open jeopardizes the security of everyone inside.

3. Violates HOA or Building Policies

Most condo buildings have strict security policies that prohibit leaving exterior doors open. Violating these rules could result in warnings, fines, or other consequences for the responsible resident. Here is an example of a recent mention of this is a building email communication to the residents;

5 Reasons Not to Prop open outside doors on a condo building

 

4. Creates a Fire Safety Hazard

Many exterior doors are fire-rated and designed to close automatically to prevent the spread of smoke and flames. Propping them open could violate fire codes and put lives at risk in an emergency.

5. Invites Pest and Weather Issues

An open door can let in unwanted pests, such as insects or rodents, and expose interior areas to extreme weather conditions, which could cause property damage or increased maintenance costs.

So, remember these 5 Reasons Not to Prop Open Condo Doors and encourage your fellow residents to respect security measures and help maintain a safe and secure living environment for everyone in the building.

Filed Under: Blog, Condominiums of Buckhead, Condominiums of Midtown, Condominiums of Perimeter, Interesting Stories, Midtown Atlanta, Real Estate Tips Tagged With: Atlanta Condominiums, condominium safety, Condominiums, Midtown Atlanta Condominiums, midtown atlanta condos for sale

What’s Causing Ongoing Home Price Appreciation?

August 4, 2022 by Thom Abbott

What’s Causing Ongoing Home Price Appreciation?

What’s Causing Ongoing Home Price Appreciation? | MyKCM

If you’re thinking about making a move, you probably want to know what’s going to happen to home prices for the rest of the year. While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected. That means home prices won’t fall. Here’s a look at two key reasons experts forecast continued price growth: supply and demand.  

While Growing, Housing Supply Is Still Low

Even though inventory is increasing this year as the market moderates, supply is still low. The graph below helps tell the story of why there still aren’t enough homes on the market today. It uses data from the Census to show the number of single-family homes that were built in this country going all the way back to the 1970s.

What’s Causing Ongoing Home Price Appreciation? | MyKCM

The blue bars represent the years leading up to the housing crisis in 2008. As the graph shows, right before the crash, homebuilding increased significantly. That’s because buyer demand was so high due to loose lending standards that enabled more people to qualify for a home loan.

The resulting oversupply of homes for sale led to prices dropping during the crash and some builders leaving the industry or closing their businesses – and that led to a long period of underbuilding of new homes. And even as more new homes are constructed this year and in the years ahead, this isn’t something that can be resolved overnight. It’ll take time to build enough homes to meet the deficit of underbuilding that took place over the past 14 years.

Millennials Will Create Sustained Buyer Demand Moving Forward

The frenzy the market saw during the pandemic is because there was more demand than homes for sale. That drove home prices up as buyers competed with one another for available homes. And while buyer demand has moderated today in response to higher mortgage rates, data tells us demand will continue to be driven by the large generation of millennials aging into their peak homebuying years (see graph below):

What’s Causing Ongoing Home Price Appreciation? | MyKCM

Odeta Kushi, Deputy Chief Economist at First American, explains:

 “. . . millennials continue to transition to their prime home-buying age and will remain the driving force in potential homeownership demand in the years ahead.”

That combination of millennial demand and low housing supply continues to put upward pressure on home prices. As Bankrate says:

“After all, supplies of homes for sale remain near record lows. And while a jump in mortgage rates has dampened demand somewhat, demand still outpaces supply, thanks to a combination of little new construction and strong household formation by large numbers of millennials.”

What This Means for Home Prices

If you’re worried home values will fall, rest assured that experts forecast ongoing home price appreciation thanks to the lingering imbalance of supply and demand. That means home prices won’t decline.

Atlanta Market Update

Some of this information comes at a more National level look, and we all know that real estate is local, and all about location, location, location! 

Key housing metrics, including the median sales price, swung to negative territory in Atlanta on a month-over-month basis in June, Georgia MLS reported, citing its 12-county Housing Market Snapshot. 

The median price for a home in Atlanta’s core market fell 2.1% to $403,169 from $412,000 in June. Year over year, the median price was up 15.5%. 

Atlanta-area home sales by dollar volume fell in July, dropping 18.9% month over month and 15% year over year to $2.84 billion.   

The number of houses sold in July was 5,918, down 16.9% from June and 27% from July 2021.   

New listings in July totaled 9,268, a 14.1% decrease from June and a 5.3% increase from last July, while active listings jumped 15.9% month over month and 57.1% year over year to 11,970.   

Georgia MLS’ 12-county report includes Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Henry, Paulding and Rockdale counties. 

Bottom Line

Based on today’s factors driving supply and demand, experts project home price appreciation will continue. It’ll just happen at a more moderate pace as the housing market continues its shift back toward pre-pandemic levels.

Filed Under: Atlanta Real Estate For Sale Or Rent, Atlanta Relocation, Blog, Buyers, Market Reports, Real Estate Tips, Sellers Tagged With: Buyers, Intown Atlanta Real Estate, midtown atlanta condos for sale, midtown atlanta real estate, Seller Tips, Sellers

FHA Approved Condos Midtown Atlanta GA

June 18, 2018 by Thom Abbott

Midtown Atlanta FHA Approved CondosWhat Midtown Atlanta Condos are FHA Approved?

UPDATE – JUNE 18, 2018

We first wrote about FHA Approved Condos in December, 2010! WOW! That was EIGHT years ago! We were coming out of the real estate “mess” and FHA was one way many Buyers were working to get into a condo. Well, the list of FHA Approved Condos is a far cry from what it was back then. We left the original list at the bottom of this post, and wanted to provide you with an updated list. This is for Zip Code 30308 and 30309 and we are only showing Midtown condos buildings that have an FHA Approval good into next year or beyond. There were some other buildings, but their approval is set to expire within a couple months or no more than 6 months. 

We can always help you with an updated list if there are not options in Midtown Atlanta. You can Contact Us for more information and we can see what other buildings may be an option for you if you are considering FHA financing. 

June, 2018 Midtown Atlanta Condos with FHA Approval

(Those buildings that we have a specific page built for will be a link to that page for more information about that particular condo building)

MidCity Lofts

The Dakota Condominiums

Enclave at Renaissance

The Reynolds

1280 West

Ansley Terrace

City Park Townhomes

Collier House

Colony House

Colony Park Citihomes II

Mayfair Renaissance Note: This Page DOES include information/listings in the Mayfair Tower which is NOT FHA Approved.

Metropolis

Park Central

Peachtree Lofts

Plaza Midtown

 

We went from 33 approved buildings in 2010, to just 15 buildings that are approved now. Many buildings (HOA’s) have elected not to renew their FHA approval. Most feel it has not affected the sales in the building, although some have simply let it expire, and may not even know it.

But, we can help you find options if FHA approved condos are what you need!

***********************************************************

In today’s real estate market, most buyers are now using FHA financing for their Midtown Atlanta Condo purchase. While the credit score requirement has gone up, what remains most attractive is the down payment amount of  3.5% of the purchase price. But another important factor you have to consider when using FHA financing is whether the condominium community you are buying in is FHA Approved. Ahhh….you say.

In Midtown Atlanta, our primary zip codes are 30308 and 30309 so this list reflects the buildings that are in that part of Midtown Atlanta. It also lists the date that their approval is good through.

 

Midtown Atlanta GA FHA Approved Condominium Buildings

 

ZIP CODE 30308

 

FHA Approved Condos Midtown Atlanta GA795 Myrtle Street Condominiums            7/31/2011

Glendale Heights Condominiums             10/5/2012
Melrose Park (Phase 1)                             10/5/2012
Palisades By The Park                               11/8/2012
Renaissance Lofts                                     06/17/2012
Renaissance Park                                     08/02/2012
Renaissance Park II                                 05/31/2011
Sienna at Renissance Park                       05/31/2011
Spire Midtown Atlanta                             11/26/2012
Cornerstone Village                                  04/12/2012
Dakota Condominiums                             08/11/2012
The Reynolds                                            03/31/2011
The Tyree Condominiums                       07/31/2011
Troy Peerless Lofts                                  12/07/2011
Viewpoint Midtown Tower 1                   12/07/2011
ZIP CODE 30309

1010 Midtown Condominiums                    12/15/2011
1280 West Condominiums                          12/07/2011
905 Juniper                                                   04/19/2012
Ansley Terrace Condominums                   05/04/2012
Aqua Condominiums                                    12/07/2011
City Park Townhomes                                 03/31/2011
Colony Park Citihomes                                 05/31/2011
Cotting Court                                                05/06/2012
Luxe Condominiums                                    02/10/2012
Mayfair Renaissance                                    11/22/2012
Mayfair Tower                                             05/04/2012
Metropolis North Condominiums              09/30/2011
Parc Vue Condominiums                             07/31/2011
Park Central Condominiums                      07/01/2012
Peachtree Lofts                                             12/07/2011
Peachtree Walk Condominiums                 04/08/2012
Piedmont Park West                                    02/28/2012
Plaza Midtown                                               12/07/2011

If you are interested in a FHA Approved Condo in Midtown Atlanta, I would be happy to help you with your home purchase. If there is a building that is NOT on this list, please let me know and I will be happy to help you find out the status of the building. Most of your major communities are listed here. For more information about purchasing your Midtown Atlanta condo, give me a call!

Filed Under: Buyers, Condominiums of Midtown, Real Estate Tips Tagged With: Midtown Atlanta Condominiums, midtown atlanta condos for sale

What’s My Spire Midtown Condo Worth? September 2016 Update

October 21, 2016 by Thom Abbott

Spire Midtown Atlanta Intown Atlanta Real EstateSpire Midtown was the second in a trilogy of condominium buildings by the Novare Group in Midtown Atlanta. When it entered the market, it sold out in just 3 weeks! (Ah, those were the days…right?)

Spire Midtown is located between 6th and 7th Streets, on Peachtree. The building has seen renovations to the lobby (twice) and to the clubroom area. Plans are in the works to renovate all the hallways.

What’s My Spire Midtown Condo Worth?

Let’s take a look at the activity in the building for September, 2016.

What's My Spire Midtown Condo Worth

We are certainly seeing the prices climb, but also stabilize  in this choice Midtown Atlanta condominium building! In September, 2015, a “17 stack” floor plan sold for just $390,000. The average list price for a 1 bedroom is currently $255,311 and the two bedrooms are at $431,300.

What's My Spire Midtown Condo Worth

Market Report for Spire Midtown Atlanta

Here we can see the current homes that are either pending Due Diligence (meaning inspections, review of condo documents, etc) as well as the homes set to close! (MyMidtownMojo is pleased to be representing the buyer of Number 914!!)

September did not see but one home actually close, but the above numbers clearly show that sales activity is alive and well in Spire Midtown.

Filed Under: Blog, Buyers, Condominiums of Midtown, Market Reports, Sellers Tagged With: midtown atlanta condos for sale, Midtown Atlanta Condos For Sale Spire Midtown, Spire Midtown Atlanta Market Reports

Midtown Atlanta Market Report May 2016

May 17, 2016 by Thom Abbott

Midtown Atlanta Market Report May, 2016

Midtown Market Report May 2016Not your typical Midtown Atlanta Market Report. I was just curious….how many condominiums have gone Under Contract in the Midtown area (Area 23 according to the FMLS stats) in the last 60 days?

Not sure if you would consider this a high number or a low number…but given the fact of the minimal new construction, most of the sale have to be resales, with the exception of some higher price points which take you into some new townhome developments in Old Fourth Ward, the number is….

187

In the last 60 days, 187 condos/townhomes have gone Under Contract, ranging in price from a high of $1,190,000 for Unit #2402 at Aqua Midtown, and $1,100,000 for #3003 at 1065 Midtown Loews to the lowest point of $84,900 and $97,900 for two 1 bedrooms at City Heights on Ralph McGill Blvd. (also Old Fourth Ward area)

How many of those condos sold for less than $100,000? The two I just listed were the ONLY two under $100,000.

And here’s the breakdown of the rest by dollar amount:

$100,000 $200,000 61
$201,000 $300,000 60
$301,000 $400,000 27
$401,000 $500,000 12
$501,000 $600,000 4
$600,000 + 21

Of interesting note…over 50% of the sales have been in the $300,000 or less price range!

Then you look at the number of sales that are OVER $600,000. 21 homes may seem like a large number in 60 days, but several of these sales were in new construction communities like Highland Park, Square at Glen Iris and The Edge on Lucy Street. The Edge only has 4 units, and 3 of them went Under Contract in the last 60 days! Interesting!

How long were these homes on the market? Again, today is May 17th, 2016 (in case you find this report at a later date!) and we see listing dates as far back as September, 2015. But then others have late April listing dates.

Location, location, location still plays a major factor in real estate. We are in a hot Seller’s market with limited inventory, so the Seller is in the driver’s seat on many fronts. Yet, you can find listings that have been on the market for as long as last August. but the majority of them have gone Under Contract in 30-60 days from the listing date.

To see the complete report of the Midtown Atlanta Market Report, May 2016, click here.

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

SOLD Ansley Above The Park Number 914

July 27, 2015 by Thom Abbott

In real estate, a “closing day” is always a good day for everyone! There are happy Seller’s that have sold their home and happy Buyers that are going to be moving into their new home! The process should be an easy one, but that is not always the case.

SOLD  Ansley Above The Park Number 914

MyMidtownMojo.com is pleased to have helped Jim, Natalie and Emily call this stunning, three story condominium at Ansley Above The Park home! Natalie was not able to come to Atlanta on the house hunting trip, so Jim and I looked at the options and he sent photos and video back to Natalie in California. She just walked through the door and saw if for the first time this past Saturday morning! She was excited and pleased!

Their closing was an unusual one! They were not only not able to be in Atlanta for closing (so we do what is called a “mail-away closing”) but Jim was in Nevada and Natalie was in New York…so it was a DOUBLE mail-away! Our team at Ganek, Wright and Minsk, Closing Attorneys did an outstanding job of finding our Buyers locations to sign their documents. And they each had to sign the SAME set of documents, so they had to go from ATL to Nevada to New York and back to Atlanta! Whew!

Jim’s lender, John Markham with Wells Fargo Home Mortgage did an incredible job with his team to have a loan package ready and to the attorney for the mail-away process to begin. Here’s a funny side to the story however…and just goes to show that in your real estate purchase, your lender is worth their weight in gold in making your closing be smooth! The SELLER used Wells Fargo to close on their new home purchase and they had a total disaster. They ended up having to delay their closing twice, and almost lost the home they had found! All because the loan officer did not have their “ducks in a row!”

When we work with Buyers, this is one of the very reasons we work with them and recommend the various players they need to have on YOUR TEAM! After all, everyone IS on YOUR TEAM to help you find, and buy the home of your dreams!

Congratulations again to our Buyers and we look forward to seeing them around Midtown!

Ansley Above The Park SOLD July 27, 2015

Filed Under: Condominiums of Midtown, Real Estate Tips Tagged With: Atlanta Condominiums, Buyers, Intown Atlanta Real Estate, Midtown Atlanta Condominiums, midtown atlanta condos for sale

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Thom Abbott

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

 
 
 
 
 
 
 
 
 
 

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