Atlanta Condos For Sale

Spring Has Sprung and So Has the Spring Buying Season!

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Spring Has Sprung Spring Buying Season

Spring has Sprung with the Spring Buying Season!

It would seem based on this week’s weather forecast we could have a couple nights dip into the upper 30’s, but otherwise, Spring has Sprung! Things are bloomin’ and the lovely pollen is out and about.

You know what else is out and about? Buyers! And Lots of them! We are working with several clients at the moment, some are quickly finding (and getting) what they want, and others…well, we are still on the hunt! We’ve missed out on a couple opportunities and these Buyer’s have quickly learned they have to “up their game” a bit. What exactly does that mean?

Have a Lender Pre-Approval!

Never fear, all of our Buyers have been pre-approved with a lender! But if you happen to be reading this as a Buyer looking to get into the Spring real estate market, get your mortgage pre-approval from your lender BEFORE you step out the door!! With limited inventory, you are going to be competing with other Buyers, and you want that approval letter in your toolbox! 

Now is Not a “Low Ball Market!”

I’m here to help my Buyers (and YOU) get the home or condo you are looking for. And when we are making an offer, I am working with my Buyers to educate them about the market. I’ve done the research, and if the home is NOT overpriced, it may be priced JUST RIGHT! What does that mean? It means making a FULL PRICE OFFER is the right buying decision! Don’t be playing the, “oh, let’s see if they will take ‘x’ for it” and you then lose out over another offer that was right on the money. 

Focus on the Big Things on Your Inspection

Unless you are buying a brand new home, your home inspection is probably going to show some things that need attention on the home you are Under Contract to purchase. But, let’s focus on the Big Things! Maybe the HVAC is way past it’s lifetime, and you could be faced with a major repair. That’s worthy of talking about the price of the home, or other options. But when a door does not close properly, that’s something you can deal with at anytime. I’ve had a Buyer lose a home over some little things like this…and now they regret it….they really wanted that home, and just knew the Seller was going to fix ALL those little things. When the Seller said NO, the Buyers said NO, and it was over. Well, they thought the Seller would call their bluff….and they didn’t…and took a back up offer. And we were out. Over little stuff. 

It’s the Spring Buying Season! Let’s get our game plan together and get you the home or condo you are looking for! 

 

Understanding the Atlanta Real Estate Market

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Atlanta Real Estate MarketYou’ve heard it. Or maybe you’ve read it somewhere. “It’s a Buyer’s market,” or “It’s a Seller’s market.” Some of will even say the “market is on fire!” But what do those statements REALLY mean? Knowing that information will be a big help to you if you are buying or selling by Understanding the Atlanta Real Estate Market.

The Housing Market

This term references the overall real estate market, referring to houses (and condominiums) being bought and sold between buyers and sellers. While most of these sales are happening with the assistance of a real estate agent, their are those sales happening directly between owners. (We call that a For Sale By Owner or FSBO). As with any product, the market is dictated by the inventory of the product, a.k.a. Supply and Demand. If we have high demand for a product, and low inventory, the market appreciates. But if demand is low, and inventory is high, the market depreciates. 

Inventory in the Housing Market

Supply and demand in the housing market is related to the number of homes on the market, or the inventory. And we measure the market like this….If no other homes were to come on the market after today, at the current pace of sales, how long would it take for ALL the homes to be sold? If the inventory is high, the prices go down, as you compete to find a buyer for your home. 

So What is a Buyer’s Market and a Seller’s Market?

When you have high inventory, it is considered a buyer’s market, because the homes are on the market longer, and the supply is greater than the demand. The longer a home is on the market, the more a seller is willing to negotiate. (Or, in a worse case, they take their home off the market and wait) During this market, the buyer wins by getting a good deal on a house, or they enjoy a buyer’s market. 

But when we have less inventory, and a large number of buyers, the seller’s market kicks in..and it is the seller who is in the driver’s seat with their price. Mind you, you can ask whatever you want for a price on your home, but it will have to appraise if the buyer is getting a mortgage, or the buyer will need to have the financial means to make up any difference between the agreed sales price and the appraisal price, if there is a difference. (Oh, and yes, that does happen…and happens OFTEN!)

talking atlanta real estate
“Let’s grab a coffee and talk real estate!”

Take another example….if the new iPhone was not popular, and they were not selling, you would see the price come down. Apple would have all this inventory that is not moving, and they’d be adjusting prices to move it. On the flip side, if there are lines to buy the latest iPhone, rest assured, the price will be right up at the limit.

You have to remember that markets, especially real estate, have cycles. There will be a time of rapid appreciation, then stable markets, and then the potential for another decline. (UGH!) Thankfully, are price appreciation HAS slowed down, the market is stable, and homes are selling at a fast pace…hence the seller’s market we are currently in. 

You can find many real estate tips for both buyers and sellers in the blog posts on our site. If you have questions about your specific building (prices DO vary from building to building) or in your neighborhood, why not contact us to get a more detailed market analysis that tells you about YOUR real estate market! 

CODA Building Breaks Ground in Midtown Atlanta

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Coda Technology Square Midtown AtlantaGeorgia Tech and Portman have broken ground on an exciting new addition to the GATech campus, particularly Tech Square and Midtown Atlanta. A forgotten corner at 4th and Spring Streets will eventually be home to the new high performance computing center. 

The building will be 21-stories, and is incorporating the historic Crum & Forester Building that stands on the corner of Armstead Place and Spring Street. The name was shortened from the High Performance Computing Center to Coda. The developer hopes to finish the building in 2019.

Plans call for the building to be home to some 2,400 workers, including Tech researchers as well as staff and employees from private sector firms. The project is estimated to cost $375 million. 

This section of Spring Street is finally seeing some changes after having been in the shadows of the rest of Midtown Atlanta. Across the street from Coda, is a new student housing building going up that is being built by developer Selig Enterprises. The GATech Hotel and Conference Center is just across Spring Street.

The entire complex will total about 1 million square feet. About 750,000 square feet will be office, retail and data center space. Georgia Tech will occupy and lease from Portman, who will own the tower, about half of the office floor space, while the rest will be leased to major companies and startups.

CODA Breaks Ground at Tech Square

Here is a short video from the Ground Breaking event in December, 2016. 

 

 

There are certainly many living options nearby Coda for people looking to live in Midtown Atlanta that will be working in this building. Obviously it’s a couple years from delivery, but we will we watching and waiting to help new employees find place to live in Midtown Atlanta near Coda. 

If There is a Vacant Lot Out Your Window, Buyer Beware!

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I love working with Buyers for condos in Midtown, Buckhead and other areas of the city! I think my knowledge is very helpful when they are trying to make a decision on where to live, and more specifically, which condo to buy. 

As we are standing on a balcony, or looking out a window, I’m often asked, “What is going to happen with that vacant lot?” Ahhhh…..

If There is a Vacant Lot Out Your Window, Buyer Beware!

Hanover Midtown Apartment SiteAnytime there is either a vacant lot, or even a low rise building (say 6 stories or less) I caution a buyer that the view could most definitely change. In fact I always say, “You can NEVER guarantee the view.” (Now you know, you are never supposed to say never…but in this case……) 

Unless a brand new building is there, or a high rise is already in place, there is always the potential that the view can change. Take this photo to the right…..it is taken off of a balcony at Viewpoint Midtown. That lot is at the corner of 7th and Juniper and runs up to Peachtree Street. It actually does not look like that anymore, as a 36-story apartment building is now under construction on that site! See what I mean!

Another case in point is in West Midtown at White Provision Condominiums. This building is not that tall, so certainly has the potential to have something rise in front of it. I’ve known that the area in front of the building on the corner of 14th and Howell Mill Road is owned by GATech. Well, it seems they may be ready to do something with it!

Georgia Tech Howell Mill Road

Georgia Tech is now looking for a developer for the 11 1/2 acre site where everything from a hotel, to apartments, office and retail space could rise! They have indicated they would like to include housing that is aimed at being affordable for junior faculty, grad students and others that might want to live near campus. 

On the map above, the YELLOW star is the White Provision Condominium building. So, those facing Howell Mill with a nice skyline vista of Midtown proper…..well…..enjoy it while you can.

If There is a Vacant Lot Out Your Window, Buyer Beware!

 

NCR Announces Phase II of Midtown Project

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NCR Headquarters Midtown Atlanta
Phase II on the Left

Construction is well underway on the new NCR headquarters building in Midtown Atlanta. I recall attending their presentation of this building, and that Phase II was further down the road. The space where Phase II was slated to go would be a possible temporary park/greenspace.

Ahhhhh…fast forward from July 2015 (when the project was presented to the Design Review Committee (DRC) of the Midtown Alliance) to August, 2016. And Phase II is announced!!! (So much for that green space….) The new building will add some 240,000 plus square feet of office space along with 10,000 sq.ft. of retail and parking for 515 cars. (we’s got have that garage!)

The renderings make it hard to figure the number of stories, but the first phase tower will be 20 stories. Maybe this one will be 10? It does however add more excitement in the form of retail to Spring Street and the surrounding area.

Here is a photo of the site before construction began. We’ll be sure to post some more in the near future as this great addition to Midtown Atlanta progresses!!

NCR Midtown Atlanta
NCR Building Site Before Construction

Apogee Midtown

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Another residential tower is on the rise in Midtown Atlanta…and a “tower” it will be at 39 stories! And it now has a name!

Apogee Midtown

The vacant corner at 14th and West Peachtree (and including up to Spring Street) has long been surface parking lots, as pictured here.

Apogee Midtown Apartment Building

(These photos were taken in July, 2014)

It was first reported back in May, 2014 that The Related Group from Miami had the 2.2 acre site under contract. The complete development calls for two phases, and the first phase, now under construction will be some 39 stories tall with 390-400 residences, with the interior of Apogee Midtown bening designed by Michael Habachy of Habachy Designs. 

Another exciting exterior element of the building will be a 95′  by 63′ mural on the building, also by a local artist, HENSE (Alex Brewer) At a prime corner like 14th and West Peachtree, this will be a building that will sure to be noticed!~

Announced back in 2015, the other awesome part of the building will be a flagship Whole Foods Market, which may occupy as much as 60,000 sq.ft. and be the largest store for the organic food supermarket chain in the metro Atlanta area. Plans are calling for a 2018 opening!

We will keep you updated with more information about this exciting Midtown Atlanta project. Below, you will find a contact form if you’d like us to keep you updated as we get more information such as floor plans, pricing and occupancy dates.

And check out the video below about this exciting company, Related Group.

Apogee Midtown

 

 

First Name Last Name
Sending

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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