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Thom Abbott, GRI
Thomas Ramon Realty
(770) 713-1505 Thom@MyMidtownMojo.com https://MyMidtownMojo.com
Listed by: Thomas Ramon Realty @Palmer House Properties |
Nearby rentals |
See on Scoop.it – Midtown Atlanta Conversations and Condos
Big families with big money are creating the homes they want by combining three, four, five or more apartments. Certainly a New York City trend…but in Atlanta?
WHEN Jon and Susan Ashley move back to the United States from London next summer, they want their children to have the usual perquisites of suburban living. They will move into a sprawling two-story home where their twins, Zack and Alec, 11; their daughter, Sophie, 6; and their month-old son, Dylan, will have their own bedrooms and a separate playroom.
Last January, Ian Stone paid $7.2 million for six apartments at the Park Millennium, 111 West 67th Street, top. Mr. Stone is combining the six apartments into one sprawling unit of 4,200 square feet, with four bedrooms, a den, office and play area.
But they won’t be in Greenwich, Conn., or Armonk, N.Y. The Ashleys will move into a 31-story Upper West Side condominium, where they have bought three apartments that they are combining into a six-bedroom, 4,200-square-foot duplex.
Mr. Ashley, 41, said he wanted his family to live in Manhattan because he works such long hours at a private equity firm that he would see his children less if he had to spend more time commuting.
See on www.nytimes.com
See on Scoop.it – Midtown Atlanta Conversations and Condo
MINT HILL, N.C. — For Rosanna Wilfong, it started a decade ago. Her front yard was flooding. A pool of rainwater swelled until it was knee-deep. So she hired a company to install a French drain — a kind of underground trench with a pipe to channel the water away from the foundation of her home.
She said she spent $6,500 to install the drainage system. Her homeowners’ association forced her to spend another $6,500 tearing it out.
It was only the beginning of a years-long legal battle with her HOA that ate up more than $50,000 in legal bills and almost cost her her home.
See on www.wcnc.com
In this column of the Intown Atlanta Real Estate Buyers Guide, let’s talk about what contingencies can be a part of your real estate contract.
So, you’ve made your offer on the home or condo that you like. Most likely that offer is going to have contingencies attached to it. Let’s look at what some of those might be. Contingencies are kind of like a chance that something could, or could not happen.
Due Diligence Period — Out of all the contingencies you have in a Georgia Real Estate contract, this may be the most important one! During the due diligence period, you have the right to terminate the contract for any reason, whatsoever. While we will cover other contingencies that can be a part of your contract, this all encompassing contingency can help you end a contract if you need to. Of course, the time length of your due diligence period is one of the negotiations you will have gone through as you came to terms on your contract.
Keep in mind, the Seller will want this time period to be as short as possible to assure you are sticking with your contract. But their can be various reasons as to why the time period can be long, or short.
Appraisal Contingency — This is a VERY important contingency, and you should NEVER enter into a real estate contract without this as part of that contract. If any appraisal performed by your lender in obtaining financing for your purchase is for less than the purchase price of the Property, you as the Buyer have the right to request that Seller reduce the sales price of the Property. In this instance, perhaps the Seller cannot lower the price due to what they owe on the property. With this contingency in place, you can terminate your contract and receive your earnest money back.
If it’s not a huge difference, and it really is the home or condo of your dreams, I have seen Buyers pay the difference. That is something I would discuss with you based on the market, the home you have found and how long you think you will be living there.
Financing Contingency — While this still can be used, you should have crossed most of your financing hurdles with your pre-approval with your lender. With a pre-approval, your lender just needs a contract and then the appraisal for you to move forward. But there may be times and purchases when it makes sense to still have this contingency. This too can be covered with your Due Diligence period.
Short Sale Contingency– This contingency will come into play if you are purchasing a home from a Seller that is doing a short sale. This means that the owner of the home owes more than it is worth, and is asking the lender to take a reduced payoff on the mortgage. This contingency protects more the Seller than the Buyer in that it outlines the steps for the Seller to achieve a successful short sale and release of liens from the lenders.
There are other contingencies for selling your home first, and for back-up offers on the home you are looking at, but these are the main parts you will want to be familiary with.
In our next column, we’ll talk about the……Inspection!
Being a smaller Midtown Atlanta condominium community with only 117 homes, the Midtown Atlanta Market Report for 905 Juniper Condominiums, June, 2012 looks different than those communities with 300-400 homes. But, the level of activity is still down compared to several years ago. 905 Juniper is located just one block off of Peachtree Street at 8th and Juniper Streets.
The breakdown of the above is as follows:
For More Information on how we can best serve your Midtown Atlanta Real Estate needs, please fill out the online contact form or call us at 770.713.1505.
We specialize in Condominium homes in Midtown Atlanta and other In Town areas of Atlanta. If you are planning to Buy or Sell real estate, let us help you explore all the possibilities available to you and help you find just the right home you will LOVE!
For a Quick Look at Midtown Atlanta Condominiums:
Midtown Atlanta High Rise Condominiums
Midtown Atlanta Mid Rise Condominiums
Perhaps you are interested in Historic Midtown? Take a look at Homes For Sale In Historic Midtown Atlanta
See on Scoop.it – Midtown Atlanta Conversations and Condos
Owen Wilson and Vince Vaughn’s movie “The Internship” now shooting in Atlanta will soon be filming at Georgia Tech, the college web site reports.
The movie, which also has filmed scenes downtown and in Midtown, is a comedy about guys who get downsized and then start their careers over at the bottom rung. They evidently make the most of their downtime along the way; we’ve seen casting calls looking for extras for a “Gentlemen’s Club” scene this week.
Anyway, the Georgia Tech notice says “Filming will take place at the following locations: Campus Recreation Center, Ford Environmental Science and Technology Building, G. Wayne Clough Undergraduate Learning Commons, Klaus Advanced Computing Building, Leadership Challenge Course, Noonan Courtyard and the Marcus Nanotechnology Building.”
See on blogs.ajc.com
