Atlanta Condos For Sale

Clients Become Friends at Thomas Ramon Group and MyMidtownMojo!

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Clients Become Friends at Thomas Ramon Group and MyMidtownMojo!

In the world of real estate, I cross the paths of many different kinds of people. It is probably what makes working in the real estate industry so rewarding…at least for me! 

Getting to know people as you help them with such a large financial decision, and a life decision as well! I will admit there are some people that I lose contact with…they move out of state, and we just don’t keep in touch like those that live here in Atlanta. It’s not for trying, it just happens. But then there are those, that become friends for life, and you really appreciate those relationships. Terry and Sue’s testimonial is one example of that kind of relationship….

 

MyMidtownMojo TestimonialIt was a football Saturday probably in 2007. Sue and I walked along Peachtree St. at 5th Street near the Georgia Tech campus. Although not a resident of Georgia at that time, we spent a lot of time in midtown for Georgia Tech functions and I worked out of Atlanta. We were window shopping and became interested in midtown condominiums. Given the amount of time that I spent in Atlanta hotels, the thought of having a condominium in Atlanta became very appealing. With the proximity to Georgia Tech and a MARTA station, a midtown condo seemed perfect for my situation.

So there we were window shopping on Peachtree and Thom Abbott came out from his real estate office to meet us and offer any help. My family lived in the Atlanta area and the State of Georgia for many generations; I knew my way around Atlanta. Shortly into the conversation with Thom, I realized that Thom knew midtown very well – the neighborhoods, the trends, the people, the businesses, etc. – and certainly knew a lot more than I about midtown. Thom takes the time to meet condo management teams; he truly understands midtown’s pulse. Thus began a business relationship which is now about 15 years strong and today is both business and friendship.

I’m not sure how many times Sue and I came to Atlanta and got together with Thom to look at condominiums and discuss the market. Previously I had never owned a condo; Thom took the time to make sure we understood the finer points of condo ownership and living. Our midtown condo was a second home and simply a one-bedroom one-bath unit. We looked off and on for maybe two years and at no point did Thom ever pressure us to hurry up and make a decision or to buy more than we need for our second home. I owned property in another state which I needed to sell in order to buy the Atlanta condo. Thom was totally patient and understanding of that situation.

In due time the out of state property sold and in March 2009 we bought our midtown condo. Sue and I could not be happier with the condo selection. Thom’s knowledge and experience in midtown condos was most valuable. My time both before and after work was very enjoyable. Of course walking to Georgia Tech functions (football, baseball, basketball, band, alumni, etc.) was really nice and we never had to worry about parking. The condo was perfect for our needs.

Sue and I stayed in contact with Thom Abbott throughout the years. Thom hosted some social gatherings which were very interesting and his way of keeping his finger on midtown’s pulse. Midtown has seen incredible changes since the 1960s. Thom studies and knows the market. He is a valuable real estate agent whether he represents the buyer or seller.

A lot changed from 2009 to 2022. In about 2020 I decided to sell the condo. I hated doing that but now retired I lost most of my reasons for coming to Atlanta. Sue and I coordinated with Thom about how best to present the condo for sale. Covid hit right then and Thom’s patience was once again tested. The real estate market fluctuated some during the pandemic and once again Thom offered valuable market advice. Finally in March 2022 the condo was ready to put on the market. Thom was the selling agent and the condo sold quickly.

After many years, the midtown condo has come and gone. I have many, many really nice memories of my time in the midtown condo. One thing remains – my friendship with Thom Abbott.

Thank you Terry and Sue for the opportunity to help you with your Midtown Atlanta real estate needs…and your friendship. Clients Become Friends at Thomas Ramon Group and MyMidtownMojo!

 

It’s a Great Feeling to Have Happy Clients!

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Testimonials for Thom AbbottIt’s a great feeling to have happy clients! I so enjoy working in real estate and helping people realize their “real estate goals” in the way of buying and selling. Real estate, the buying and selling of, is a complex process with many moving parts. It can be a very stressful time for either a Buyer or a Seller. But my role, is to absorb as much of that stress away from my clients as I can, and with my knowledge and my team, be able to create a memorable real estate experience that is positive. 

Dave and Adam found me online back in 2017 when they were looking to buy their first home. They worked for a major cruise line, and had literally lived out of suitcases for years! How crazy is that! They settled on Atlanta as a place to call home (Dave is originally from South Georgia). We looked at several condominium complexes and finally found just the perfect one for them. They had a great lender with Michele Wentworth with Silverton Mortgage.  She was even able to attend the closing with Dave and Adam as I was already scheduled to be out of the country on a trip. We became great friends and I always looked forward to their return to Atlanta from the high seas! Of course, the pandemic turned the cruise industry upside down…and they were able to ride it out with their company. A great land-based opportunity became available for Adam in Los Angeles, and so the Atlanta chapter of their lives came to a close!  We were able to work through an appraisal issue, and get them to their Celebration Day!  Here’s what they had to say about their selling experience:

“This is our second opportunity working with Thom. He has guided us through the purchase and now the sale of our first property. If we were not leaving the State, Thom is the ONLY person we would work with in real estate. His knowledge is so vast and his guidance is invaluable. Thom sets clear expectations on the ever changing market and remains in constant communication. You always feel like a priority when you work with Thom and his support, kindness and attention to detail is like no other.
Whether you are a first-time homebuyer or a seasoned real estate investor, Thom should be the person you choose to work with!”

My best wishes to Adam and Dave on this next part of their life journey! I know we will remain friends, and our paths will cross again! Thanks for your trust and your friendship! 

Why Rising Mortgage Rates Push Buyers off the Fence

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Why Rising Mortgage Rates Push Buyers off the Fence

Why Rising Mortgage Rates Push Buyers off the Fence | MyKCM

If you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans.

Today, buyers are reacting in one of two ways: they’re either making the decision to buy now before rates climb higher or they’re waiting it out in hopes rates will fall. Let’s look at some context that can help you understand why so many buyers are jumping off the fence and into action rather than waiting to buy.

A Look Back: How the Current Mortgage Rate Compares to Historical Data

One factor that could help you make your decision to buy now is how today’s mortgage rates compare to historical data. While higher than the average 30-year fixed rate in recent years, the latest rates are still comparatively low when you look at the bigger picture of where rates have been since 1971 (see graph below):

Why Rising Mortgage Rates Push Buyers off the Fence | MyKCM

Mark Fleming, Chief Economist at First American, explains it like this:

“. . . historical context is important. An average 30-year, fixed mortgage rate of 5.5 percent is still well below the historical average of nearly 8 percent.”

If you’re deciding whether to buy now or wait, this is important context to have. Today’s mortgage rate still gives you a window of opportunity to lock in a rate that’s comparatively lower than decades past.

A Look Ahead: What Happens if Rates Climb Further

The buyers who are springing into action now are also motivated to make their move because they know rates have risen steadily this year, and they’re eager to get ahead of any further increases.

Why? When mortgage rates climb, they impact the monthly mortgage payment you’ll have on the home you’re buying. Basically, it’ll likely cost you more to buy a home if you wait. Experts say mortgage rates will rise (although more moderately) in the months ahead. Odeta Kushi, Deputy Chief Economist at First American, explains:

“. . . ongoing inflationary pressure remains likely to push mortgage rates even higher in the months to come.”

So, if you’re ready and financially able to buy now, it may make more sense to get off the fence and make your purchase sooner rather than later. As Nadia Evangelou, Senior Economist at the National Association of Realtors (NAR), says:

“With even higher interest rates on the horizon, I don’t see any reason to hold off from purchasing a home right now. If you feel financially secure, you should start looking for a home.”

At the end of the day, there is no perfect advice on when to buy a home. What you should do depends on your goals, your finances, and your personal situation. Use this information with the help of local real estate professionals to make an informed decision on what’s best for you. The Mortgage Reports sums it up best:

“. . . if you’re on the fence about whether to buy now or wait for a better deal, buying sooner rather than later might be wise. That said, home buying is always a personal decision. Whether you should buy in 2022 depends on your financial situation and the local housing market where you live.”

Bottom Line

For many buyers, rising mortgage rates are motivating them to act now and make a purchase before rates rise higher. To decide what move is best for you, let’s connect so you have expert advice on your side. You can reach me HERE!

We Love Happy Clients at MyMidtownMojo and Thomas Ramon Group

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We Love Happy Clients at MyMidtownMojo and Thomas Ramon Group

Selling real estate is a full time job…and then some. At least in the way that I approach it with my clients. You won’t find one of those voice mail messages about what time calls are received and returned. If my phone rings at 9pm, it gets answered at 9pm. And if I’m traveling, I’m still available for my clients. Such was the case with Andrea and Gilberto. 

I sold Andrea her condo back in 2016. Fast forward to 2021, and she now had a boyfriend, and they wanted to look for a home together. We had it Under Contract in a quick 5 days. So the house hunt began.  They had done the right thing by having their pre-approval letter from a lender in place and ready to go. And it was the market of 2021…where homes are flying off the shelf. We went to one open house that was more like a garage sale. The people were lined up down the driveway to see the home. We made some 5 or 6 offers on homes, but kept getting beat out by the “all cash offer.” 

It was the end of June, and I had a major trip planned and was going to be gone for a month. I told them I would have to refer them out to another agent to they could continue to look at homes. They said no! They wanted to keep working from me, and were ready to take a break from the house hunt and the contract frenzy. 

While in Albuquerque, NM, they called to to say they were headed to an Open House and felt this really was “the one” they wanted. Sure enough, it was. We submitted our offer, and I continued to negotiate it as my trip wound up. We were Under Contract by the time I returned to Atlanta. Both Andrea and Gil and such kind words to say!

Happy Buyers in Their New Home

“My fiancé and loved working with Thom. I worked with him 5 years ago when buying my 1st condo. We decided earlier this year that it was time to buy our first home together and worked with Thom to sell my condo and find our new home. It was one heck of a ride with this crazy market, but he made it more enjoyable for us. Love his energy!
 
Thom is very knowledgeable of the real estate industry and is good at what he does! While on our search, Thom was out on vacation for a month. He told us he could refer us to another team member while he was out, but we decided to just wait and take a break ourselves from house hunting. We still looked at open houses during that time and Thom made sure he had his laptop on him in case we wanted to place any offers. I definitely will work with Thom again in the future if in the market. Thank you Thom!”
 
Gil had this to say….”Let me start by saying just wow! It was such a pleasure and adventure working with Thom. Thom is professional, fun, well knowledgeable and a perfectionist in what he does. He made shopping for homes fun and enjoyable. My fiancé and I even looked at 18 homes in one month. Believe me the market was difficult and we almost gave up. He helped my fiancé buy and sell her condo. And now I can see why she recommended using him again to find our first home. From selling to buying, it was very overwhelming, but Thom made it simple and less stressful.”
 
After a month of endless house hunting and placing offers, Thom went on vacation for a month. He offered us to work with someone else, but my fiancé and I declined and decided we loved working with him so much it wouldn’t be right working with someone else. So we decided to take that time off from house hunting until he got back.  We are now all moved into our new home and couldn’t be happier.”
 
It truly is the real reward for selling real estate. Seeing young couples like this get the home they had been searching for. 
 
We might add that the day of closing, Gil and things pre arranged and he proposed to Andrea in their new home. AWESOME!!! 
 
 

Fan Duel to Open $15M Tech Campus in Midtown Atlanta

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FanDuel Technology Hub MIdtown AtlantaFan Duel to Open $15M Tech Campus in Midtown Atlanta

It’s no secret that Midtown Atlanta is a technology hub. 

Google has leased the majority of 1105 West Peachtree. You have Mail Chimp at Ponce City Market….and then there is Centergy at Tech Square with Georgia Tech. So, no surprise that we have another one coming. 

Bisnow.com reported on May 18th and Governor Brian Kemp announced that FanDuel Group is expected to open a $15 million technology campus in Midtown Atlanta. The campus will eventually employ more than 900 people! FanDuel Group is a division of British Flutter Entertainment PLC and the new campus will focus on product development, tech and IT operations. 

The campus will take up some 68K square feet of space in a yet-to-be-disclosed location. Ponce City Market has been mentioned, but there are certainly some other choice locations in Midtown Atlanta, taking advantage of the talent pool from GATech.

FanDuel to open Midtown Atlanta Tech HubFan Duel to Open $15M Tech Campus in Midtown Atlanta

FanDuel operates a mobile sports betting and fantasy sports betting platform. It is one of the largest daily fantasy sports companies in the world and is the nation’s biggest mobile sportsbook, with online betting sites in 10 states, though Georgia isn’t one of them.Lawmakers in Georgia pushed, but failed, to legalize sports betting in the state this session. FanDuel operates sports betting in 10 U.S. states, including New Jersey, Pennsylvania and Colorado.

FanDuel is one of several companies to announce a major technology hubs in Midtown. Microsoft has acquired some 90 acres on the Westside near Grove Park and the new Westside Park (former Bellwood Quarry) and plans to open additional offices at Atlantic Station.Airbnb announced in February they are putting their East Coast Tech Hub in Atlanta, called the Atlanta Technical Hub. 

FanDuel Chief Product Officer Sarah Butterfass told The Atlanta Journal-Constitution that the company selected Atlanta in part because of its diverse talent pool as well as the proximity to other tech companies and higher education institutions. . The company plans to work with local colleges and universities — including the city’s concentration of Historically Black Colleges and Universities — to create courses to train students for possible careers with FanDuel, according to the release. The firm also plans to offer résumé-building workshops, mentorship programs and mock interviews as part of a community outreach program.

Employees of FanDuel can find some exciting living opportunities in Midtown Atlanta, and depending on the final location of the Tech Hub, could walk to work from many of Midtown’s mid-rise and high-rise condominium communities. 

The Midtown Atlanta location will also offer FanDuel employees access to MARTA for easy access to Hartsfield Jackson International Airport. Midtown Atlanta is also accessible from the Downtown Connector (I-85 and I-75).

COVID-19 The Lockdown in Numbers

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I was cleaning my desk up and found an article I had meant to put into a blog post. 

Then I thought, well, it’s still some interesting numbers, so why not still share it. The article was in the July issue of (I think maybe Atlanta Magazine?) and has various stats about what the COVID-19 impacts have been, and The Lockdown in Numbers. 

Some interesting points :

  • Game Downloads and streaming usage increased 35% from March 1 to May 1 (I was certainly online, but it was not gaming!)
  • A 40% drop in congestion on state roads and our freeways March to May! If you were out and about as I was (although it was pretty minimal in March and April….grocery trips and even those were few and far between as I did some major stocking up when it all “hit” about March 15th) the freeways were more than empty. It was like something from the Walking Dead…..seriously! 
  • The stat that I really liked was the huge increase in the number of fosters and adoptions of four-legged family members. In March, 2019 the number was 233,573…..in March 2020, it was a staggering 792,813!!! It just warms my heart to think of all those animals that found loving homes and families versus what the other future was. And no, I was not one of them…..
  • And as one can imagine, a 75% reduction in riders on MARTA…I mean, who was going to work?

We are still struggling to get back to “normal” and you have to wonder what that will actually be. To see the airports bustling…hotels filled with vacationers or business people at conventions. It must come soon, right?

COVID 19 Lockdown in Numbers

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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