midtown atlanta condos for sale Archives

Looking For a Unique Midtown Atlanta Condo Opportunity?

April 16, 2013 by Thom Abbott

I’m not always impressed with some of our condo developers in Atlanta. They create a “plan” and then it just seems to be the same thing, over, and over. ( I get it’s cheaper to do one design), but the skyline pays for it for …well forever!

Looking for a unique Midtown Atlanta Condo?

But every once in awhile, something different comes along! When Viewpoint Midtown Atlanta was built in 2008, Novare Group came up with some unusual floor plans on Floors 4-10. What’s so unusual about that you say? The garage is on floors 4-10!

So on the front of the building, overlooking Peachtree Street, are some pretty unique looking homes with features and floor plans that are much different than the rest of the building. Now, yes, you do exit the elevator and cross the driveway in the garage to get to your home, but you have a private entrance and foyer, and some cool floor plans.

Take this one for example, that just came on the market.

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Midtown Atlanta Real Estate. Take A Tour!

April 21, 2012 by Thom Abbott

One of the like totally cool things about blogs, social media and all is the ability it gives us to connect with each other! Not always on a personal, one-to-one basis, but we connect. We do get the opportunity to take these connections and move them off-line and make them personal.

I’ve had the pleasure of doing that with people I’ve met from Active Rain, Twitter and Facebook. Facebook has even helped me find long, lost friends!

But another thing we can do, is share things we might not otherwise be able to share. For example, take a tour of Midtown Atlanta Real Estate Atlanta from your Midtown Atlanta REALTOR! This is where I work and where I call home You Might note that some of the buildings in this video are under construction but are now finished. Interesting way to see them!

Midtown Atlanta Market Report | Viewpoint Midtown March 2012

April 8, 2012 by Thom Abbott

The “mercedes” of Novare’s Midtown Atlanta Condo buildings, Viewpoint Midtown Atlanta has finally SOLD OUT! Great news for the Midtown Atlanta real estate market, and for those who may be looking to sell their Viewpoint Midtown condo. No more developer to compete with!

But, this building is no exception in the Midtown Atlanta real estate market with low inventory and options for Buyers.

The List Prices in Viewpoint Midtown range from $155,000 for the smallest 1 bedroom (a foreclosure) to $350,ooo for a 2 bedroom. The homes that are Under Contract (Pending) range from $197,000 – $350,000. Home prices are stable in this building, but as I just mentioned, there is a foreclosure that can quickly start to impact appraisals in the building. Let’s hope we keep those to a minimum! Of the homes sold, the average Sales Price for 2 bedrooms was $290,750 and the one 1-bedroom that sold was at $205,000

Viewpoint Midtown Atlanta has struggled with it’s retail space however! Evos Restaurant opened, closed, opened….and now closed. A kitchen design store has since closed as well. (I’ve never understood the need for all these kitchen design stores in Midtown Atlanta where all the condo buildings are much newer, and most of the owners are not in the position to gut and redo kitchens?) A Sprint Store now occupies one corner and a hair salon is located on the second level. One would wonder if the cost of the space keeps everyone away?

Viewpoint Midtown Atlanta is a great example of condo amenity design done right. From the expansive club room, fitness center, outdoor living room, zen garden, multiple grilling/dining areas and the resort lap pool, this is a great place to call home in Midtown Atlanta!

What Modern Conveniences Do You Expect in Your Midtown Atlanta Condo?

April 1, 2012 by Thom Abbott

What Modern Conveniences Do You Expect in Your Midtown Atlanta Condo? This post is inspired by an article that appeared in The New York Times today.

“Unlike washer/dryers, which many condo and co-op boards do not allow, and garbage disposals, which were illegal in the city for years and are often still frowned upon by some boards, a dishwasher is something that can be installed by sellers with little fuss or expense.”

The article is about dishwashers in NYC apartments (what we call condos!) And it’s another example of how very, very, very different real estate can be in different parts of the U.S. I’m not sure if I have ever shown a Midtown Atlanta Condo that did not have a dishwasher. I know I’ve shown older homes that did not. As for a washer/dryer, there are a couple buildings in Midtown Atlanta that do not have connections in the condos, and you either have to use a community hall laundry area, or go the the lower level (a.k.a. basement) to a laundry room. Even that is a stretch for Atlanta standards.

Now days, most of us take these conveniences for granted when shopping for Midtown Atlanta condos.

Dishwasher Becomes A Right Not A Privilege

The Atlantic Moves Homes to Rentals

December 22, 2011 by Thom Abbott

The Midtown Atlanta condominium market has had it’s fair share of challenges. And it would seem there are still more ahead as we learn that The Atlantic Residences will convert some 80 homes into rentals. According to a story in the Atlanta Business Chronicle, ST Residential, which owns the building and purchased it out of the Corus Bank 2009 failure, actually converted some 40 units in late summer. Another 4o units will now become rental homes.

Current owners or potential Buyers of a home at The Atlantic Residences at Atlantic Station should not have to worry about their investment. Or so we hope. Fannie Mae and Freddie Mac do not allow financing to buyers in condo towers where they exceed the 25% limit on rentals. According to my calcualtions with 401 units, that means up to 100 homes could be investor owned, or rentals. With this announcement by ST Residential, there’s some 20 homes left, but one would suspect that some of those investor slots may have already been taken.

The Atlantic is not the first building to make this move. 1010 Midtown and neighboring 1065 Peachtree also made conversions to rentals. 1010 converted 43 of its 430 homes in 2009, and 52 homes at 1065 Peachtree in 2010. (Note, for those of you that are not familiar with WHAT or WHERE 1065 Peachtree is, these are the condos located above the Loews’ Midtown Atlanta hotel. None of these homes were ever sold to my knowledge.)

The Atlantic is a truly beautiful and landmark Midtown Atlanta building. While the real estate market has caused most of it’s challenges, many condo buyers have been leary of making an Atlantic Station purchase with the reputation the area had received for crime and other activities. North American Properties purchased the retail-portion of Atlantic Station last year and has set about on an ambitious mission to change that perception (and some of its reality.)

Challenges in selling condominiums has given rise to two new apartment towers, both located on 12th Street in Midtown Atlanta. Daniel Corporation and Selig Enterprises have begun construction on a 22-story apartment building just behind 1010 Midtown, and on 12th and West Peachtree Streets, former condo king, Novare Group led by Jim Borders is developing the Sky House apartment building.

At some point in the future, these buildings could become conversions to condos, but with a lack of higher quality rentals in the Midtown Atlanta marketplace, they may remaining apartment buildings for sometime. Time will tell.

“Do You Know How To Show My Condo?”

December 18, 2011 by Thom Abbott

I was asked that very question when I was scheduling an appointment to show a condo in Viewpoint Midtown yesterday. Well, actually, I set the appointment (that was a bit of a challenge I’ll cover in a minute) and then about 5 minutes later I got a call back from the Seller.

“Do you know how to show my condo? My agent never wants me to be here, and I don’t think agents know how to show my condo or the building.” Seriously? Ok, let’s talk this out for a minute from the eyes of this Seller.

If you are not accustomed to selling high-rise condominiums, it is completely different from a single family home. You have parking (possibly the need to pay for it as well), knowing HOW to get into the building, where are the lock boxes, sign-in/showing policies of the building, location of the amenities and what is covered in the monthly HOA fee. That’s some of the considerations when showing a condo, most of which don’t apply to a single family home.

So, first, we have a Seller who seems to have some issues. The home has been on the market for some 120 days, which means the price is not agreeable to the market. While the price was comparable to other homes we looked at, both in Viewpoint Midtown Atlanta and other buildings, it was the highest priced unit in terms of square footage at $297 per square foot. (Another home, on a lower floor, but with more space is $221 per sq. ft.

Then there was the tone of the Seller with me regarding the showing. First off, we HAD to come after 11am. Ok, no problem I’m capable of adjusting the showing schedule to accommodate this request. But there was the continual questions about amenities, do I know the building, etc, etc. I assured this rather uneasy Seller that I had been selling Viewpoint Midtown Atlanta since pre-construction and was very familiar with ALL the floor plans in the building. Finally, it seemed I had his “blessing” to show his home. Really? THANK YOU!!! You ARE the one selling, correct?

After viewing homes in another building, I arrived with my Buyers at approximately 10:40am. As I picked up keys for a total of 3 homes (including this one) as well as an access card for the building, I see a large note on the lockbox for the aforementioned Seller. It requires ANOTHER phone call before the key can be given out. And so it’s made by the Concierge. Who hands me the phone….

” I thought I made it clear to you that you were NOT to be here before 11am. This home is occupied, we have things to do in the morning and we have a life.” Yes….that is exactly what he said to me. I almost took the home off the list at that very moment, but my head prevailed. I assured Mr. Seller I remembered his request, and had two other homes plus two floors of amenities to show and would arrive in his home well after the 11am time frame.

Dude, I’m thankful my clients did not like your home (to small for them) as I can only imagine a contract negotiation with you.

Perhaps there is more reasons why your home has been on the market for so long than just the price.

Every Buyer or Seller I work with in Midtown Atlanta expresses their amazement at my knowledge of the area, the buildings and the amenities. The answer is YES, I Do Know How To Show Your Condo.”

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