midtown atlanta real estate Archives

Margaret Cho Calls Midtown Atlanta Home Why Not You?

December 8, 2010 by Thom Abbott

Margaret Cho Calls Midtown Atlanta Home!

I’m still working on a blog post (or series) about my recent adventures called working as an extra on various film and TV productions that are happening in Atlanta. But I’ll fill in with tidbits as they come along.

I’ve had the opportunity to work numerous times on the Lifetime TV series, Drop Dead Diva. Depending on the specific set, you may, or may not have much interaction with the actual stars of the show.

Margaret Cho Talks with Fenuxe Magazine Two weeks ago, I was on set with the infamous Margaret Cho, who stars as Terri Lee, the assistant of Jane Bingum, played by Brooke Elliott. At one point I wanted to poke my head in the office where she was sitting and tell her how fantastic she was when she was the star entertainer on an Atlantis Cruise I was on a few years ago. Turns out my partner, Ray Benitez DID talk to her when he was on set and she remember the cruise well!

Margaret took time out to talk with Fenuxe Magazine here in Atlanta. She mentioned that she has moved from Peachtree City to Midtown Atlanta. Well of course, MY first question is why she did not call ME to be her REALTOR!! Second Question….What Midtown Atlanta Condo building did she select? Hmmmm…I don’t have the answer for that own.

But, if Margaret Cho calls Midtown Atlanta home, shouldn’t you?

Let me show you why I love Midtown Atlanta, call it my home, and now, so does Margaret!

This post also appeared at MyMidtownMojo.com

Midtown Atlanta

NOTE: This post was published earlier this year, but not on this site! Wanted to share it with you!

Thomas Ramon Realty Moves to Palmer House Properties!

December 7, 2010 by Thom Abbott

Thomas Ramon Realty Moves to Palmer House Properties

A real estate broker is often asked a couple familiar questions, both by fellow brokers, but from our clients as well. Why do you not have your own company and/or why are you affiliated with such and such brokerage? Both good questions, both with varied answers, based on who you ask. So, let’s say you asked me?

As to owning my own brokerage, it’s a matter of timing and money. Starting any new business requires some type of capital. A real estate brokerage can be minimal since we don’t HAVE to have a store front. Many agents and brokers work from the comfort of a home office. And now, with the ever increasing number of home buyers and sellers looking for their home, and maybe even their agent online, a “bricks and mortar” office is not always needed. But there are still expenses in setting up a business, such as the form (LLC, S-Corp, etc) and there are the costs of joining the local listing service. And signs. And logo design. So all those costs start to add up. But one day my little grasshopper…..

The second question is who you choose to affiliate with. For those of you NOT in the real estate business, (and I’m speaking for the State of Georgia as real estate license rules vary from state to state) a real estate agent’s license must be held by a Broker. I am currently an Associate Broker, which means I am now licensed to have my own brokerage when I’m ready to do so. (Note paragraph above) So that is one reason for an affiliation. From there, the reasoning can go in a number of directions.

Thomas Ramon Realty recently changed our affiliation to Palmer House Properties. While our primary reasons were financial decisions, there is something to be said about being with a company that seems to add agents to its roster on a weekly basis. That, and the fact that Palmer House Properties was ranked #8 of Atlanta’s 50 Fastest Growing Private Companies certainly had something to do with it. And, it was just time for, well…new real estate!

Ray and I have a spacious office in our new new building, complete with conference rooms, a kitchen and the ability to do our client’s closings right in our office! How convenient for our clients. We are excited about this new change, and our new office! If you are in Atlanta, we invite you to stop by and say Hello. Mind you, a “heads up” phone call might be wise, since we could be out showing property, or working on videos and our blog to keep our clients informed about what is happening in Midtown Atlanta! But, it the time is right, the wine will be chilled, or the coffee fresh and hot!

If you’d like to know more about us, just drop us a quick note and let us know how we can help you.

Thomas Ramon Realty + Palmer House Properties = “Can You Feel The Vibe?”

Visiting Atlanta Open Houses This Weekend? Get Prepared!

December 4, 2010 by Thom Abbott

Visiting Atlanta Open Houses This Weekend? Get Prepared!

Leesa, my good friend from Wake Forest, NC has some great tips for those Buyers that are out looking at homes during an Open House! If you are looking at Atlanta GA Open Houses this weekend, take note!

Always remember, the agent hosting the Open House is working for the Seller (in most cases) and you should have your own agent to represent you as well. If you don’t have an agent for your Midtown Atlanta Condo purchase, give me a call and I’ll be happy to explain the importance of having a Buyer Brokerage Agreement and a real estate broker representing YOU!

Via Leesa L. Finley -Wake Forest NC REALTOR® Wake Forest NC & Raleigh NC Real Estate (Circa Properties – Your Wake Forest NC Homes Specialist):

Visiting Open Houses This Weekend? Get Prepared!

If you are thinking about touring some Open Houses this weekend then it must mean that you are finally ready to purchase a home. Whether it is your first home or this is your second or third home Open Houses are a great way to get out and explore some new neighborhoods. But, you have to be prepared!

There are a few things that you’ll want to keep in mind when you visit Open Houses and a few questions that you’ll want to ask:

Be sure to have a few of your Buyer’s Agents business cards with you if you are not touring the Open Houses with your agent. The agent holding the Open House works strictly for the seller, don’t let them tell you any different, so you’ll want to establish up front that you have exclusive Buyer’s Representation.

Take a camera and a notepad with you. With the permission of the agent holding the Open House you may want to take a few pictures to view at a later time. While there will most likely be informational pieces made available to you at the Open House it is always a good idea to take notes of things that most interest you or that you dislike. Be sure to label the house that you are taking notes on so as not to get confused later.

Open drawers and doors! I have seen way too many buyers tour Open Houses and they were afraid to open anything. Go ahead, it’s an Open House – open the drawers and doors!

Bring Your Questions! While the agent at the Open House represents the sellers there are still a few questions that you can ask without giving away your negotiating stance.

You’ll want to ask if there are any Homeowners Association Dues and, if so, how much per month are they and what do they cover?

You’ll want to ask if the property is city water and sewer or if it is a private well and septic.

If important to you, what schools are assigned to this location?

Where are the local amenities located if there are any such as the pool, tennis courts, playground, etc.

Why is this home “better” than the home down the street that is for sale?

How long has the home been on the market?

Where are the nearest public services located such as the post office, fire station, police station, hospital, etc.

You get the idea – don’t be afraid to ask questions! Buying a home is one of the most important decisions you’ll make – you may make it more than once but regardless, it is one of the most biggest financial decisions you’ll make and it needs to “feel right”. The only way that’s going to happen is if you ask the questions that are important to YOU! So, sit down before you start touring tomorrow or Sunday and really have a heart to heart with yourself and others involved in this with you – what is important to YOU!

Oh, and my last piece of advice??? Wear comfortable shoes!!!!! It can get very tiring if you plan on visiting more than two homes. Other that that – HAVE FUN and I hope you find your dream home! If you are wanting to find some Open Houses in Wake Forest NC this weekend don’t miss my cool Open House Tool! All the latest Open Houses are there directly from the Multiple Listing Service. It’s FREE so go for it!

Whether you are buying or selling Real Estate in Wake Forest NC it just makes sense to use a Realtor® that knows the area! I live here, work here and play here – I call Wake Forest NC home! For more information regarding homes for sale in Wake Forest NC be sure to visit my websites:

Leesa Finley– Homes for Sale in Wake Forest NC, Wake Forest NC schools, restaurants, shops, entertainment and MORE….

Wake Forest NC House Chick – My company website with information for the entire Raleigh NC area including Cary, Apex, Garner, Franklinton, Youngsville, Holly Springs and MORE….

I AM your Wake Forest NC Real Estate Agent of Choice……

Don’t forget to check out Discover Wake Forest NC for all the latest new listings in Wake Forest, Home Buyers and Home Sellers Tips and the most up to date calendar of events in Wake Forest NC!

Checklist For Cash Buyers

December 4, 2010 by Thom Abbott

Checklist For Cash Buyers

Here in Atlanta,Georgia when you are purchasing a home using a lender, much of the “investigation” is done on your behalf by your lender. Of course, if they are loaning you money on a home, the want to make sure they know as much about it as possible.

But, suppose you are a cash buyer. Who’s looking out for you? Well, your real estate broker can assist you to a certain extent based on law, but much of the due diligence now falls directly on YOU.

So, what should you be looking for? Here’s a list of items to keep in mind. Keep in mind that some of these may or may not apply, depending on whether you are purchasing a Single Family home or a condominium.

Owner’s Title Insurance — This is MUST have, especially if you are buying a foreclosed or short sale property. This insurance does just what it says…protects you from any title issues that could come up in the future.
Termite Inspection — May or may not be needed in a condo, but certainly in a house. This would be an issue in a condominium if it is a community that has ground floor units, is older or has significant wood in its construction. The homeowners association should have coverage for this, another thing you want to verify.
Water Bills — Again, more for the single family home. A significant monthly bill could mean you have a leak, and it may be underground where you can’t see it. A costly repair later on if not found now.
Flood Zone Determination — Again, for a condominium, this would be important if you are on a first or second floor, and there is any type of stream even remotely close to the community or your building. A flood in the Atlanta area this past year damaged homes that were NOT in a flood plain, and without insurance, the homeowners were not able to get insurance to pay for the damage.
Hazard Insurance — In most real estate contracts, there is a clause that covers what happens to the property AND the contract should the home be damaged. But you want your own insurance coverage the moment you close on the property. If you were using a lender, this would of been covered as part of your loan payment, but not when you purchase with cash!
Home Inspection– A must for ANY property, condo or single family home. Simply do not purchase a home without first having this done. Even new construction can have issues you may not see and an inspector will. Better to resolve before you buy than after.
Appraisal– Just because you are paying cash does not mean you should not know exactly what the property is worth!! Another wise investment prior to your purchase to make sure you are not paying more than you should.
Survey– Not necessary in a condominium, but a MUST in single family or multi-family homes. You want to know where the property lines are, and if there may be any easements that you are not aware of. (Just try to put in the new pool if there is a sewer line running through your back yard and you never knew it!)
Homeowner’s Association– First, you want to know if one exists (single family) and then you want to know the rules and any membership fees there may be. Also, are those fees mandatory (for sure in a condominium, possible in a single family home) and how much are they and what do they cover. Are there any pending assessments from the Association that you could be responsible for? How stable is the association and do they have monies in reserve for bad debts, repairs, etc.

These are the major items you want to keep in mind if you are paying cash. If you have questions about your Atlanta Real Estate purchase, give me a call!

What Midtown Atlanta Condos Are FHA Approved?

December 1, 2010 by Thom Abbott

What Midtown Atlanta Condos Are FHA Approved?

Midtown Atlanta Condos For Sale Since most Midtown Atlanta Condo buyers are using FHA financing to purchase their Midtown Atlanta Condo, it’s important to know that the building you are considering IS FHA approved. While your real estate agent should know this information, I believe in the motto of being an informed consumer!

My friend, Rodney Mason with Prospect Mortgage recently did a post on his blog about which Midtown Atlanta Condos Are FHA Approved, and those that have their eligibility up for renewal.

This is great information for any Midtown Atlanta Condo buyer to have. Thanks Rodney!

When Does A Short Sale Become a Binding Contract?

November 25, 2010 by Thom Abbott

When Does A Short Sale Become a Binding Contract?

There is often confusion when writing a contract on a home or condo that is a short sale. Many people think you have to wait for an answer from the bank before you have a binding contract.

pen and paper A Short Sale Contract becomes binding when the Buyer and Seller (not the bank) accept all terms of a Purchase & Sale Agreement and sign off on all Exhibits, Contingencies and/or Counter Offers. A Binding Agreement Date must be filled in on the Purchase & Sale Agreement or on the final Counter Offer and all timelines must be met within the terminology of the contract. Unless otherwise noted in the special stipulations of the Purchase & Sale Agreement or in the Counter Offer/s, all timelines concerning earnest money must be met and if the deal falls through a Termination & Release is still required and will need to be signed by both Buyer and Seller for earnest money to be disbursed.

***The banks approval is a Contingency to the contract and is most often secured by a Bank Addendum that must also be signed by the Buyer and Seller.***

So you will have a fully executed Purchase and Sale Agreement, with one outstanding contingency…THE BANK’S APPROVAL!!! When you will get that approval is anyone’s guess. So when writing your Purchase And Sale Agreement, you might want to put an extended date in for the closing, knowing full well it may be a couple months before you get a response. Your agent should also make sure you have an opportunity to terminate your agreement and have your earenest money refunded if there is no answer from the bank after a certain time. This is a negotiation point, and must be a date that both the Buyer and the Seller agree on.

Yes, short sales are a challenge, but if you are getting an incredible home or condominium, the wait may we well worth it.

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