Atlanta Condos For Sale

How Much Do You Know About Down Payments?

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How Much Do You Know About Down Payments?

How Much Do You Know About Down Payments? | MyKCM

Whether you’ve owned a home before, or you’re ready to jump into homeownership for the first time, there are always a lot of questions swirling around about what is truly required for a down payment, and how to best source down payment assistance. Let’s tackle these two today.

1. How much do you really need for a down payment?

There is a long-standing misconception about down payment requirements. A survey from Fannie Mae shows only 17% of consumers know the minimum options are actually between 1 – 5% of the purchase price and 40% don’t know how much they need at all.How Much Do You Know About Down Payments? | MyKCMThere are many mortgage loans available that require as little as 3% down for first-time buyers, and some ask for only 3.5% down from repeat buyers. There are even loans available for Veterans that provide 0% down payment options too.

We’ve mentioned recently that you don’t need to come up with a 20% down payment to buy, and we’ve also shared how quickly you can save for a 3% or 10% down payment, depending on where you live. If you’re planning to put down just 3%, the research shows it may be possible in most states to have enough saved for a down payment in less than a year. That puts homeownership in a much closer reach for many potential buyers, maybe even you!

2. How can I get help with my down payment?

Regardless of the loans available, many buyers still need assistance with a down payment. The great news is, there are a lot of ways to tap into down payment assistance options. Here are just a couple of them:

Assistance from Family Members

The National Association of Realtors (NAR) said, “a third of recent first-time buyers received down payment assistance from family members.” They also mentioned, “the average net worth of those aged 75 and over stands at $264,800…They just might offer the boost the next generation needs to become homeowners.”

That means one of the ways to find help with a down payment is to accept a gift from a family member. If this is an option for you, make sure you talk to your loan officer before you accept the money, to ensure you document the process the way it is required by your loan. This way, it will be received properly and you can still potentially qualify.

Down Payment Assistance Programs

The reality is, not everyone has a loved one or a family member who can provide help with a down payment. There are, however, more than 2,500 down payment assistance programs available (by local areas like city, county, or neighborhood), and some of them are even specifically for first-time buyers.

The gap, as mentioned in the same survey, is “only 23% of consumers are familiar with low down payment programs.”

That’s why it is so important to get familiar with these options by doing your homework before you plan to buy a home. Determine what is available in the area where you ultimately want to live, so you have all the details you need to take advantage of the down payment assistance option that is best for your family.

Bottom Line

If buying a home is one of your long-term goals, you may be able to get there sooner than you think by tapping into one of the many down payment assistance programs available.

Learn more about the home buying process by reviewing the articles in our Real Estate Buyers Guide.

Baby Boomers are Not Moving

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Baby boomers Not movingWere you born between 1946 and 1964? Then you are a Baby Boomer and Baby Boomers are Not Moving! 

What does that mean? In an article that appeared in Housingwire, and according to the Chicago Tribune, these Baby Boomers are a stick in the spokes of the homeowner cycle. And that clog equals some 1.6 million homes that are NOT coming on the market because they have chosen to “age in place” vs. selling and moving to a retirement community or some other community. As a result, these homes are not coming to market for those first time home buyers that are currently looking in the market. It is a form of housing gridlock if you will. 

Baby Boomers Not Moving

In January, Chase released a study which found that 76% of Baby Boomers own their own homes.  Some 66% of those homeowners think that home values will soon rise and an even greater 88% of them have renovation plans within the next 3 years!  And while Baby Boomers think their home is “just right,” a Millennial might look at an older home as a place to throw money as systems, and more, need updating.

Consider Resale When Remodeling 

And as the Boomers make changes to their home, the need to keep resale in mind for the future. You can affect the market appeal of your home with weird changes you make make, to fit your lifestyle. You may be looking at “undoing” some of those changes when you do look to place your home on the market. That wheelchair ramp from the carport, or a retro-fitted bathroom with grab bars may not be quite what today’s buyer is looking for! But hey….if you have historic details…be sure to keep them and not remove! Millennials will get into history and such and overlook the functional issues a home may have. 

But you also have to think long term in the upkeep and if you can afford it…or afford someone to clean house and mow the lawn. Sure, you might enjoy it when you are 55, but when you are 65, or even 70 it could be a real challenge. At least at the homes where you have a large yard to take care of, or lots of space to air condition that you don’t really need…or can’t physically take care of.

If you have been thinking about “aging in place” or maybe downsizing to a smaller home or even a condominium, why not give us a call and we’d be happy to sit down with you and talk about some of your options. 

Sending

HOA Rules and Regulations — The Pool

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Pool Rules and Regulations in an HOA CommunityIf you live in a condominium, townhome or single family neighborhood, you very well may have a pool. And we know some of you make regular use of this amenity, and others…well…they saw it the day they looked at the property. But in Hotlanta, a pool is a pretty nice amenity to have. But the HOA Rules and Regulations have to have some rules for the pool. 

And to share with the other 300+ homes in your building. Key word there is….share. Alas, but not everyone gets that part, or even still, not everyone understands what goes on with a pool. 

I thought I’d share some Pool Rules that we picked up from a condo community…with some commentary about each rule. 

Rules at the Pool 
In an effort to help promote safety and overall enjoyment of the pool for all residents, we ask that you please take a moment to familiarize yourself with some of the pool rules listed below. 

No Glass At The Pool – Glass is strictly prohibited in the gated pool area. This means no liquor/beer bottles, no wine bottles/glasses. No glass containers brought in via ice chest, cooler, tote.  No glass, period.  Aside from possible injuries, if glass breaks at the pool, the pool must be closed, completely drained for cleaning, inspected and cleared, then refilled. If this occurs, all costs will be passed along to the responsible party.

WHAT THAT MEANS — It can cost an HOA upwards of $5,000 to drain a pool, clean it, refill it, and have it treated again. Not to mention, the down time where the pool cannot be used AT ALL! Yeah, right smack dab in the middle of Summer Pool Season, your pool gets closed because some yahoo dropped a beer bottle. Moral to the story here — buy it in a can. If if don’t come in a can…your lazy behind will need to go up to your condo when you need a refresh. 

No Smoking At The Pool –  All forms of smoking are strictly prohibited in the gated pool area. There are designated smoking areas located near the planters at the exterior of the gated pool area.

WHAT THAT MEANS  — Not trying to offend any smokers, but it’s not a pretty habit. You got it. We understand. Just do it someplace else. And sadly, many smokers don’t think tossing that butt anywhere is littering…but it is. There are many examples of patio furniture with burn holes in them, and even fires in landscaping from people tossing butts of balconies. How about we not smell the smoke or see butts in the pool. (Well, we wanna see butts in the pool…just not THAT kind!)

Limit 4 Guests Per Unit –  For the enjoyment of all residents at the pool, each resident is allowed a maximum of 4 guests per unit at the pool. Guests must be accompanied by resident at all times. 

WHAT THAT MEANS  — You SHARE this pool. It’s not YOUR POOL. You can’t have a pool party and invite 10 of your friends. Why? Well, how’s about YOU come down to the pool and there is no place to sit, the pool is packed and 60% of those people don’t pay for that pool or pay your HOA fee, but you can’t use the pool? We get it….you’re popular and have lots of friends…but…you are going to limit them here. 

Music At The Pool –  As a courtesy to your neighbors, please keep all portable music devices at a volume that will not disturb others around you.

WHAT THAT MEANS — Whether you are into those noise cancelling headphones (that are now reminiscent of the 1970’s) or use Airpods, your music and your music tastes are…..just that. Your Music. 

Elevators –  Please be mindful of residents living on the xxth floor when going to the pool, or back to the elevators. Please keep all noises to a minimum, so as to not disturb your neighbors. 

WHAT DOES THAT MEAN — Most condo building pools are accessed via some floor that also has (gasp) actual homes and residents living there! So after you have had a few cocktails, we know the volume can go up…and if all your friends (Limit 4 please) are equally happy…well there goes the noise in the hallways. Let’s use our inside voices. 

As a reminder, when consuming alcoholic beverages, please drink responsibly. WHAT DOES THAT MEAN — Just what it says!

Any violations of the above rules and regulations may result in fines to the responsible units. 

WHAT DOES THAT MEAN — A fine. And some communities don’t mess around with their fine schedules. And….there ARE cameras. 

We appreciate everyone’s efforts in helping to maintain the pool as a fun and enjoyable area. 

Do these sound harsh? No. They should be simple common sense, but hey, not all of us have that. So we have to put rules in place so everyone can enjoy the pool!

Where And When To Hit The Streets For Food Trucks

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Where to Find Food Truck Locations in AtlantaSee on Scoop.it – Midtown Atlanta Conversations and Condos

Food Trucks in Atlanta are finally an accepted thing! Amen! But when and where ARE they? 

 Now, besides the numerous special events that food trucks will show up for, there are regular locations where you can find them:

Atlanta Food Trucks

Atlanta Food Truck Park — 1850 Howell Mill Rd NW, Atlanta, GA 30318  Wednesday 12-7pm

Brookhaven Food Trucks — The popular Brookhaven Food Truck Roundup, now entering its sixth season, returns to Blackburn Park, 3493 Ashford Dunwoody Road, on May 15. By changing the food trucks’ location this year to the north end of the park near the Blackburn Pavilion, the event now has the added bonus of bordering a brand-new playground to provide entertainment for the youngsters.

 

Your Moving Check List

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Moving Check ListAwesome! We have your home Under Contract, and moving day is just around the corner! SHREEK!!!!! You need a Moving Check List to get it all in order!

What do I do with all this stuff? How are we going to move it all? Change of address cards? ALL of these things come into play, and quite frankly, it can be a bit overwhelming! I’ve moved some 17 times in my life, and 5 of those were corporate relocations, and the rest were “do-it-yourself” moves, be they between apartments or even cities. And while I have not moved in many years, I can still remember the stress like it happened yesterday. 

Your Moving Check List

It’s a big deal selling your home, and it’s no small matter to prepare to move. At Palmer House Properties and MyMidtownMojo, we know that moving takes time and energy, but there are ways to make it go as smoothly as possible. Here are some tips as you anticipate and prepare for your move. Keep in mind, if you are doing a corporate relocation, the actual packing may not be a worry as the moving company will do that for you! I know what that is like…and it’s sweet!

 

30 to 15 Days Before Moving

  • Sell or give anything away you won’t move. Maybe plan a garage sale, or donate items to charity.
  • Call several movers for estimates.
  • Consider insurance on movables.
  • Gather and store dental, medical and pet’s veterinary records.
  • Start alerting friends and companies that mail to you.
  • Contact children’s school and have transcripts forwarded to new school.
  • Go online and complete a change of address with the USPS.
  • For tax purposes (if you qualify for moving deductions), keep a record of all moving expenses and keep receipts of any items you donate to charity.
  • Arrange for disconnection of utilities and re-connection at new location.

 

Your Moving Check List14 Days Before Moving

  • Pack one room at a time and label all boxes as to what’s in them and the room in your new house they should go to. Label furniture as to the room it should go to. (Unless you are doing a corporate move or have hired a moving company. And if you are paying movers, you may have to pack, and they just load and unload, so this timetable could be changed!)
  • Make sure you return items you’ve borrowed from library and friends.
  • Resign memberships to clubs.
  • Arrange the cancellation of newspaper and other home deliveries.
  • Ask bank to release safe deposit box and transfer account to new bank.
  • Arrange for cash, traveler’s checks, or certified checks. (Movers usually require cash or certified check.)
  • Drain gas from your lawn mower, and properly dispose of flammable items and other materials that should not be put in the trash.
  • Arrange to have your phone disconnected.
  • Transfer your homeowners insurance so you will be covered at your new home.

Day Before Moving

  • Pack a suitcase you can live out of, if necessary, for the first few days at your new home.
  • Empty and defrost refrigerator and freezer and let them air dry for a day. Deodorize large appliances with baking soda or coffee.
  • Remember to leave the keys (and remote controls, such as for the garage) to your old property with your real estate agent.
  • Label your most important boxes, so you know what to open first.

Moving Day

  • Make sure mover is properly informed of your new address.
  • Make sure you have payment ready before van is unloaded at new address.
  • Confirm arrival date and time.
  • Before you leave, check every room, closets and the attic a final time.
  • Check locks on doors and windows.

Hopefully this list will help you get through all the details and stress of moving! Please know, we are here to help you with any of the “moving parts” (no pun intended!) and get you to your new home, or out of the home we helped sell for you! 

13 Holiday Events Around Atlanta

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Whether you have family coming into Atlanta to visit you, or you want to join friends or your family here, you might be looking for some things to get you into the holiday spirit. Maybe we found something you’ll find interesting in our 13 Holiday Events Around Atlanta!

(The Title of Each Event or Place is a like to their website, if we found one!)

2018 Holiday Events Around AtlantaLights of Life

Drive through the campus of Life University in Marietta to experience the Lights of Life, open Every night from dark to 9 p.m. on weekdays and until 10 p.m. on Fridays and Saturdays through December 31. Since 1989 this light show has grown to encompass more than 1 million LED lights in displays set up along the grounds. Other activities include visits with Santa, pony rides, and concessions.

Through December 13, admission is $5 per car Monday through Thursday and $10 per car Friday through Sunday. From December 14 to 31, admission is $10 per car regardless of day. Additional fees are required for onsite activities and concessions.

Holiday in The Park at Six Flags Atlanta – Thru January 6

Celebrating its fifth year, Holiday in the Park returns bigger and brighter than ever with more than 1 million LED lights, 16 themed areas, 30 holiday rides, a variety of live shows, and plenty of photo ops scattered throughout that would be perfect for next year’s holiday cards.

Open select days through January 6, tickets vary based on age and date. See website for exact pricing and to purchase tickets.

Skating at Park Tavern — A Midtown Favorite! Through January 21st

“The Rink Powered by Pepsi” is a popular ice skating rink that returns with a “Fire & Ice” theme featuring a Neo-Victorian feel and design elements, holiday décor, games, seasonal cocktails, and more.

Through January 21, skating is open to all ages from 4:30 to 8 p.m. Monday through Thursday for $15 and on Friday through Sunday for $20. Each evening at 8:30 p.m., The Rink turns into an “ages 16 and up” venue until midnight. Rental skates are included.

Parking is $3 on weekdays and $5 on weekends. 

Santa at The Battery Atlanta

This one has all kinds of different hours and options. December 16th for example, is Santa Paws Night when you can bring the family pet. 

World of Coke Holiday Highlights

To celebrate the season, this downtown attraction is highlighting the history of the Coca-Cola Santa as well as spotlighting seasonal Coke ads and artifacts from around the world. Guests also can sample seasonable beverages like Apple Pie Sprite and Gingerbread Coke.

 Photo ops galore, including with the Coca-Cola Polar Bear, positioned in Santa’s sleigh, and outside the venue by giant ornaments. Ticket prices vary by day and age, so check website for full calendar and pricing. Available through January 1.

Stone Mountain Christmas — Through January 6th

Stone Mountain Christmas invites residents and visitors alike to come experience some of the park’s top attractions all decked out for the Christmas season. See an abbreviated 4-D version of “The Polar Express,” take a ride on the Scenic Railroad as you sing carols, visit with Santa and Mrs. Claus. When you’ve finished, how about that holiday photo made with holiday characters Rudolph, Clarice, and Bumble from “Rudolph, The Red-nosed Reindeer.”

Ticket prices vary based on age and date; see website for exact pricing and to purchase tickets.

Milledgeville and The Old Governor’s Mansion – thru December 21

holidays at Old Governors MansionThrough December 21, tour the Old Governor’s Mansion to see how the state’s elite celebrated the season in a bygone era. Tickets are $10 per person, $7 for seniors and pre-booked tours, and $2 for students.

Also available will be tours of Rose Hill, a circa-1852 Greek Revival home. 

 

 

Savannah’s 21st Annual Holiday Lights Tour

If you are headed to Savannah, this is a must do! The Old Town Trolley Tour takes you on a caroling tour as you pass by historic homes and city squares! How fun! 

Christmas at Rock Ranch — Who Knew?

Christmas at Rock RanchThe Rock Ranch is a beautiful 1,500 acre working cattle ranch located about an hour south of Atlanta in Upson County. The farm was founded by the late S. Truett Cathy of Chick-fil-A and is dedicated to “Growing Healthy Families!” and “Uniting Families to the Land and Each Other.” It’s a place where families, school groups and businesses can come to enjoy “agritourism.” (Ah, now we know……)

Check the website for more details about travelling around the farm by wagon, riding the Christmas Express Train, the Holiday Gift Shop and the Christmas Cafe. 

Festival of the SEAson at The Georgia Aquarium

Festival of the SEAson transforms Georgia Aquarium’s plaza, galleries and exhibits into a winter wonderland, including appearances by Santa and SCUBA Claus, a holiday edition of our live entertainment experience, tree-lighting ceremonies, and Santa Claus events.

Many events are part of your General Admission to the Aquarium, but some could have additional fees. As always, check the link provided above for more information! 

Ride The Pink Pig — Lenox Square

Let’s just leave it at that… Individual rides are $3 each, and you can get multi-ride tickets (you know, in case you just can’t get enough of the Pink Pig) for $5.50 for 2 rides and $7.50 for three rides. 

 

Garden Lights, Holiday Nights – Atlanta Botanical Gardens – Midtown Atlanta

Garden Lights, Holiday Nights returns with new features and crowd favorites – including new music and motion for last year’s buzz-worthy spectacle, Nature’s Wonders. 

This year brings the debut of the Skylights Lounge in the Skyline Garden. Plus, several larger-than-life plant giants from Imaginary Worlds: Once Upon a Time will be awash in holiday glow.

See the Ice Goddess and Tunnel of Light along with the Orchestral Orbs, Radiant Rainforest, Model Trains and other favorites that continue to make the exhibition a must-see holiday tradition.

A Value Night ticket (We picked Wednesday, December 19) is $24.95 per person. Check the website for other ticket prices based on Value, Regular and Peak night dates. 

Ponce City Market 

Check the website for a variety of activities going on at this vibrant “re-make” of the historic Sears, Roebuck & Co. building, located on Ponce De Leon Blvd in Old Fourth Ward. 

There you have it…..some fun things in, around and outside of Atlanta to round out your holiday adventures! We hope you enjoy one, or many of them, along with all the other magic that IS the Holiday Season! 

Thom Abbott

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

 
 
 
 
 
 
 
 
 
 

PalmerHouse Properties