Mayfair Awesome with Double Balconies
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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 |
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by Thom Abbott
Overview |
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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 |
by Thom Abbott
Overview Maps Photos Features Description |
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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 |
Our recent listings
Viewpoint Midtown 20th Floor Condo For Rent
Classic Castleberry Hill Loft Living Mayfair Awesome with Double Balconies One Of A Kind Tri Level Loft in Historic Castleberry Hill Viewpoint Midtown Atlanta GA
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by Thom Abbott
See on Scoop.it – Other Atlanta News Events
Atlanta According to Zillow….and I’d take it with a grain of salt….keep in mind this is a METRO Atlanta average, and is going to be different for different parts of the city…one thing the article DOES point out!
Median home price: $176,200
Median rent : $1,950
Breakeven time: 5.9 years
Foreclosures have plagued the Atlanta area recently. The metro area saw increases in foreclosure activity during each of the first half of this year.
Part of the increase is due to the national mortgage settlement which set new rules that banks should use to pursue foreclosures. The settlement, which was reached as a result of the robo-signing scandal, has opened the way for banks to clear their backlogs of foreclosures more quickly.
Now the market is flooded with short sales and bank-owned properties, depressing prices — and creating bargains. The median home price in Atlanta has fallen to well below $180,000, which, combined with low mortgage rates, has made buying a great deal in most area communities.
But, as in most cities, it all depends on where you buy. In a depressed town like Jonesboro, where incomes is about 50% lower than the state average, you could breakeven in just over a year. But if you opt to purchase in the pricier Druid Hills area, it could take closer to seven and a half years.
See on money.cnn.com
by Thom Abbott
During the market downturn in condominium sales in Atlanta, developers were strapped for money, and ways to make ends meet. They came up with a pretty smart idea…depending on which side of the idea you were on….
As the developer, they controlled the HOA…they still owned a majority of the homes. So, let’s take up the 20-25% of homes that are allowed to be leased, and lease them….ourselves. Now we have some income coming in. As the sales increased, and the inventory decreased, the developer now wants to get out of the “property management business” and sell this inventory. The GOOD NEWS for you…as a real estate investor, you get to purchase a condo AND the coveted Leasing Permit. What a concept!
Such is the case at a great development in Chamblee called 5300 Lofts. Located across the street from the Chamblee MARTA station, they are a perfect option for the investor looking for a lower cost opportunity, and in turn, the tenant looking for a rental that offers easy transit access to Buckhead, Midtown and Downtown. Heck, you can even use MARTA to get to the hospitals at Perimeter!
This is a limited opportunity. Let me help you purchase an investment condominium, and I’ll assist in the management of the property with the current tenant in place, or we’ll put a new one in! Remember, you have a leasing permit! There is only ONE other condominium community in Atlanta I am aware of that you can do this, but the sales price is $375,000 and up!
by Thom Abbott
The City of Doraville held its breath as the General Motors Plant closed in 2008 and the real estate market also kind of closed up. Since that time, the parking lot has collected a few weeds (actually a lot of weeds) and the City of Doraville has burned through a bank account surplus as it failed to reign in spending.
But there might be headlights, or building lights shining in the future. Atlanta developer and civic leader Egbert Perry is leading a team that may be close to striking a deal to purchase the property. And Dorvalle probably could not ask for a better steward….Perry’s company Integral Group, LLC has developed other mixed use projects, and Perry himself is Chairman of the Central Atlanta Progress, the group in charge of the Downtown Community Improvement District.
The GM site is a jewel for development. Located adjacent to I-285 and a stone’s throw from I-85, it has something the Atlantic Station in Midtown West would of loved to have….a MARTA transit station next to it! And studies have already indicated that the brown field cleanup at the GM site will be nothing of the magnitude that was required at Atlantic Station. Georgia Tech also completed a detailed development plan for the site that reconnects the “downtown” portion of Doraville with the site and the MARTA station. I’ve written about the Doraville GM Plant several times.
Burrell Ellis, CEO of DeKalb County has said GM officials suggest they are close to an agreement. “To get to closing, it’s going to take a collaborative effort between the City of Doraville, DeKalb County and state and federal governments.”
Doraville is a ITP (Inside The Perimeter) community with affordable housing already in place to support the people that would work at General City (that’s MY name, not anyone else’s!!) One community, Northwoods, has just been nominated to the National Register of Historic Places. Built in the 50’s and 60’s, Northwoods is the first planned unit development EVER built in Georgia. One of the original architects, Earnest Mastin was even present at a cocktail reception held to honor Georgia State University’s Heritage Preservation Program, and the Dekalb History Center for their efforts and contributions toward getting the neighborhood listed on the National Register of Historic Places.
Now just might be a good time to pick up a cool 60’s style ranch, renovate it and be ready for the real estate wave.
by Thom Abbott
Overview Maps Photos Features Description |
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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 |
Our recent listings
Stunning 20th Floor Views From Viewpoint Midtown
Classic Castleberry Hill Loft Living Mayfair Awesome with Double Balconies One Of A Kind Tri Level Loft in Historic Castleberry Hill Viewpoint Midtown Atlanta GA
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Nearby rentals
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Thom Abbott
Associate Broker, REALTOR(R)
905 Juniper Street, NE Suite 110
Atlanta, Georgia 30309
770.713.1505 Direct
404.876.4901 Office