Atlanta Condos For Sale

Midtown Apartment Building Files Building Permit —Shreek!

by

We all know that the official Midtown “bird” is the construction crane! They are everywhere!

Southeast Capital Cos Juniper Apartment siteFor those seeking to BUY in Midtown Atlanta, those cranes don’t have your name on them…as 99% of them are on buildings that will be For Rent Apartments. (The exception is the NCR corporate headquarters building, that is under construction at Spring and 8th Streets.)

BisNow has reported that Southeast Capital Cos has filed permits for their 158-unit apartment building on land that is between 4th and 5th Streets on Juniper. In geography terms, this in the very next block from the current apartment building under construction between 5th and 6th Streets!!! This photo shows the location (where the billboard is sitting in the parking lot) of this new building. The other building under construction, is just to the left.

No delivery date was announced. Here is a look at the back side of the building (away from Juniper Street towards Piedmont)

Juniper 5th Street Apartments

Midtown Atlanta Market Report May 2016

by

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.

Intown Atlanta Real Estate Buyer’s Guide | Your Lender, Your Loan, Don’t Lie

by

Real Estate Buyer’s Guide Your Lender Your Loan, Don’t Lie

 

 

 

Earnest Money MyMidtownMojo.com August 14, 2015

 

There are many steps to buying a home and reaching that move in day! Probably the most important one will be to make sure you qualify for a mortgage, and are comfortable with the payments. In this part of the Atlanta Real Estate Buyer’s Guide, we’ll talk about getting your mortgage. Your Lender, Your, Loan, Don’t Lie!

Now the title might sound a bit harsh, but I’ll explain. There are many, many options to you when you look for a lender or mortgage broker to help you with the financing of your new home or condo. Above all else, you want to make sure they can get the job done. So what all is involved?

Selecting The Right Lender or Mortgage Broker

You found me, right? You decided that my knowledge of the Intown Atlanta real estate market was important, and I knew the area you wanted to buy in. You decided I understood what you were looking for. You need the same knowledge and understanding from your mortgage broker. But, they need to KNOW you….in a financial sort of way. They will be asking you lots of questions, and asking you for various documents. Don’t dilly dally in getting them what they need. They need it for a reason! And here’s where the “don’t lie” part comes in. If you missed payments on credit cards, or any other important financial “stuff” has happened to you, bring it up NOW! You can’t hide it…it WILL be found. And the sooner the better, so your mortgage broker can address the issue, and let you know if it IS an issue in your getting your loan.

Disclose, Disclose, Disclose

If you were selling your home, I’d be telling you this for a different reason. But for the purpose of BUYING your Intown Atlanta real estate, you need to disclose things for a different reason. If Grandma Hilma is proud of you and going to give you a gift ot $10,000 to help with your down payment, you need to disclose this. If you already have the money in your account, it will show on a bank statement and believe me, somebody is going to want to know where that came from. You’ll need a gift letter from Grandma. Same applies if the money is coming from your parents.  You’ll disclose your financial situation when your lender gets a copy of your credit report. Credit is crucial to getting your loan as well as getting a better interest rate on your loan.

You’ll need to show proof of income. Bank statements, pay stubs and previous years tax returns are going to be asked for. Gather these documents NOW…don’t wait till you’ve found the home or condo of your dreams, and now you’re trying to find all the paperwork you need for your lender.

Pre-Qualified vs. Pre Approved

This is often a confusing and misused set of terms in real estate financing. When you have been pre-qualified, most likely, your lender or mortgage officer has pulled your credit report, looked at the amount you told them you make and given you an indication you qualify for a certain mortgage amount. This helps you know the amount of Intown Atlanta real estate you can shop for. But by being pre-approved, you’ve provided your lender all the documents we’ve talked about. He’s been able to review all this information in greater detail, know your financial condition, and then just be waiting for you and I to write an offer on your home!

Intown Atlanta Real Estate Team In today’s real estate market, homes are moving quickly. And manytimes, the offer, especially on a foreclosure requires you have a pre approval from a lender. Sometimes it will be a lender other than you have initally choosen, but you can still get your actual loan with the lender you have selected.

During all this process, you may find out that you qualify for MORE than you want to spend. This is an important step for both you and I to take a look at. You might qualify to purchase a $300,000 home, but maybe YOU don’t want the payment that comes with it. After looking at the number, you and your lender might find you are more comfortable with the payment on a $250,000 home. This is important for you and me, so I can make sure we look at the right priced homes, and I don’t show you more of a home that you want to buy!

Your Lender, Your Loan, Don’t Lie leads to another equation….Your Lender, Your Loan = Your New Home!

I’ve got a great team that includes lenders I’ve worked with in the past. They know the Intown Atlanta Real Estate market and will help both you and I get you into your new home!

Looking for a particular article in our Intown Atlanta Real Estate Buyer’s Guide? Here’s the entire series!

Finding the Right Agent

Your Lender, Your Loan, Don’t Lie

Desire vs. Require

Let’s Go Shopping — Looking For Your New Home

Making The Offer (The Contract)

Contingencies In The Contract

Inspections, Oh My!

Walk and Close, Oh Happy Day!

Will We See Peachtree and 17th Building?

by

17th and Peachtree New BuildingI was at the Design Review Committee Meeting (DRC) of the Midtown Alliance when this project was first presented.

The website, What Now Atlanta featured these renderings of the building proposed for the corner of 17th and Peachtree Streets. Keep in mind, this is NOT THE VACANT corner that exists and is owned by Dewberry Capital, but the corner where the TSW Architects office is. Think the Ansley Park side of the street! Shreek!

This new development calls for 45 stories which would make it quite a landmark building on Peachtree Street and in this area! The lower building pictured to the left will be 11 stories.

The initial proposal calls for 190,000 square feet of office space, 12,000 sq.ft. of retail, 206 “residences” and 140 hotel rooms. One would hope for condominiums that would be “for sale” but recent trends point to all rental inventory in Midtown!

This end of Peachtree Street has seen little development, with the exception of the current One Museum Place that is under construction. Most of Peachtree Street in this area is occupied with existing buildings that would NOT be ripe for a tear down and build like this corner is. And then, there is the empty Dewberry lot….that remains….

Let’s keep a watch on this one and see what happens!

Peachtree and 17th

Which Atlanta Neighborhood Should You Live In?

by

Neighborhoods in AtlantaI always get to know my Buyers when they are looking for a new home. By learning about their lifestyle, habits, and such, I can much better ask the question, Which Atlanta Neighborhood Should You Live In?

If they have children and schools are important that will send us searching in one direction.

If they are looking for walkability and things to do without using the car, well we know we first head to Midtown Atlanta!

But there are other ways to figure out what neighborhood might be right for you. And some computer whiz, along with Curbed. Atlanta has done just that!

Take a look at their Quiz “app” if you will……

CLICK HERE and answer the questions!

Pretty cool, eh? I took it the first time, and was very truthful with my answers, and of course, I got Midtown Atlanta. But, I took it a second time, and played with the answers and ended up in East Atlanta. A third time took me to Decatur! A 4th test took me to Buckhead! (I was really trying to see what it would take to get Alpharetta!!!!)

What Neighborhood did you get? Post your neighborhood below so we can see what is coming up!!

Whatever your neighborhood, we are here to help you find it…and find just the right home in that neighborhood!

Colony Square to Take The Roof Off With Renovation

by

Colony Square to be Redeveloped by North American PropertiesI have said many a time walking through the “mall” at Colony Square in Midtown Atlanta….”what a waste of space.”  I guess someone finally overheard my conversations with myself!

Colony Square to Take The Roof Off With Renovation

North American Properties ( think rework of Atlantic Station and the amazing suburban Avalon fame) along with Lionstone Investments closed this week on a $170 million purchase that will redevelop Colony Square and says it will take the roof off the retail core. i.e. The Mall.

Colony Square Mall Midtown AtlantaLocated at 14th and Peachtree Street, this point in Midtown has often been called the heart of Midtown and the densest part of Midtown Atlanta. The complex includes two office towers with over 700,000 square feet, some 160,000 square feet of  retail space, along with the 467-room W Midtown Hotel, and Hanover House and Colony Square Condominiums.

“Over the decades, the Midtown neighborhood around Colony Square flourished while the iconic building became sleepy and tired,” Mark Toro, managing partner of NAP, said early Wednesday. “ On July 4, 2018, the 50 th anniversary of Colony Square’s groundbreaking, we will celebrate the grand opening of the reimagined Colony Square. We will engage with the city, with the street and with pedestrians, and it will fundamentally change the experience of living and working in Midtown Atlanta.”

In the same fashion that Toro reached out to the Midtown Atlanta community after they purchased Atlantic Station, the development team is seeking feedback from the community as well as known urban design experts the likes of Jeff Speck, author of Walkable City and Fred Kent, founder and President of Project for Public Spaces. The team is again using social media to gain this input, using the hashtag — #ReimagineCS.

“We are extremely pleased to have Colony Square as the second investment in our new value add fund,” Lionstone Investments Senior Vice President Tom Paterson said in the release. “We look forward to working with NAP to re-engage the project to the street level and provide a truly differentiated use environment in Midtown. Our goal is to create something that is truly irreplaceable at the corner of 14th and Peachtree.”

Midtown Atlanta Colony Square

“As with our other mixed-use projects, we will curate the right tenant mix, layer in resort-inspired hospitality and exceptional experiences, to significantly and positively impact the value of the development,” Toro said. “Our first step is to listen to the community stakeholders and guests as they are integral to the transformation. We look forward to premiering Colony Square – the Sequel.”

Now, they sort of misunderstood what I was saying. I often thought that the indoor space just needed to be re-worked to be a great shopping/dining destination that would be in air conditioning for the Hotlanta summer heat, and heated when Midtown gets a bit chilly. But if the Atlantic Station turnaround, and Avalon are any indication of what this team plans to do to Colony Square…then I can hardly wait! Let’s get the camera out and be ready to capture the transformation!

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

Thom Abbott

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

 
 
 
 
 
 
 
 
 
 

HomeSmart