Atlanta Condos For Sale

Downsizing From a House to a Midtown Atlanta Condo

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As you begin to think about not needing all this space, and that second floor you never even visit now, you will have some considerations to make for sure! Are the kids all gone?

Congratulations!!!  You have shipped the last kid off to college! (Admit it, despite being sad to see them go, you are kinda ecited about having the place all to yourselves now. But wait? What are we going to do with 3500 square feet of house for just the two of us? We still have to clean and mow the lawn (unless you have services for both!) What if we ditch the house and move Intown where we can walk and shop and leave the car in the garage? AWESOME!

Downsizing From a House to a Midtown Atlanta Condo

Downsizing to a CondoWAIT A MINUTE!!! We have 3500 sq. ft. of “stuff.” What ARE we going to do? What do we get rid of?

  • “I’m not giving up my Great Grandmothers’s writing desk!!”
  • “I’ve got to have my leather sectional so I can stretch out to watch college football!”

Indeed, these are some of the comments you will hear as you start the challenging process of downsizing from a house to a Midtown Atlanta condo. And some of these comments are important, but some of them we will have to think twice.

I’ve worked with many a condo buyer that is downsizing from a house. And the space of that 2 bedroom condo we are looking at is probably about the size of your kitchen, breakfast, dining, living room and maybe your family room. Yep. Forget that second floor or basement. And I often tell buyers that the furniture that works is your house probably won’t work in your condo!!

My rule of thumb is…if it has tremendous sentimental value (a treasure from your honeymoon trip) or a family heirloom that has been handed down (that writing desk above) then those are the things we want to make sure we can find space for. That leaher sectional will best be sold, donated or handed down to one of those kids who needs furniture!!

It is not an easy process, an may be one you should start BEFORE you even start looking for your condo. But then again, by me showing you some options and space, it may give you a better perspective as to what you can take, and what you can’t.

I found this great article, Moving to a Smaller Home, and Decluttering a Lifetime of Belongings that might help you understand the process and give you some ideas for getting started.

Once you are settled in your new condo, you are going to love your new lifestyle. You may not need that leather sectional to watch the college game as you may join your new found friends at a local sports bar for the afternoon!

Midtown Skyline From Spire Feb 2014

 

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FMLS Logo Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work, please click here to review our DMCA policy and learn how to submit a takedown request. © 2024 FMLS.
Data last updated: 11/19/24 1:47 PM PST.

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Cornerstone Village Midtown Atlanta 2015 Annual Meeting

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Cornerstone Village Annual MeetingDo you live in a condominium community? Or even a single family home community that has an association? Does your HOA have an annual meeting? Better question might be….

Do You ATTEND your Annual Homeowners Meeting?

Cornerstone Village Midtown Atlanta 2015 Annual Meeting

I had the opportunity to attend the Cornerstone Village Annual Meeting earlier this week. In most HOA communities, you must have a 2/3 attendance (via in person or through a proxy vote) to conduct official business. In the case of Cornerstone Village, with 310 homes, if my math does me correct, there has to be approximately 207 owners present at the annual meeting in order to have a quorum and conduct business. I attended because two owners that I manage their rental condos for, asked me to attend, and I did so by having their proxy vote.

But, there was not a quorum. Nope. Not enough owners attended (or turned in a proxy vote) to do any business.

So what you say? Say WHAT I say?

You OWN a home in this building. You have a financial interest in how the association is run, or the building is maintained and presented. But you don’t bother to come to the annual meeting. Tisk Tisk.

Here’s the most scary part of this….There were numerous people interested in running for the HOA Board of Directors. People that have “stepped up to the plate” to offer their time and talent into running and managing the community (along with a great Property Manager!) But none of those people were elected. Because an election could not happen without a quorum of owners.

So what happens now? The current Board of Directors will hand pick and select the NEXT Board of Directors. How’s that for democracy?

Now, I happen to be writing about Cornerstone Village, but this is an all too common occurrence at many annual meetings for the HOA. Not just this building. You have a financial interest in this building. If the lobby looks bad, or the association is not managed properly, you could have problems in the future, be it in the form of a special assessment, or a challenge selling your home because of excessive rental units, poor reserves, condition of the amenities…and more.

You need to pay attention to what happens in your building. And if for some reason you don’t THINK you should go, or care about the annual meeting, then give your proxy to an owner that does.

Cornerstone Village Midtown Atlanta |Atlanta Condos For Sale

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One of the great things about condominium living in Midtown Atlanta is the old saying, “variety is the spice of life.” Whether you are looking for old or new, high-rise or one story, lots of amenities or no amenities, Midtown Atlanta has probably got the building for you.

I used to be able to say we had condos in all price ranges, but that gap is truly becoming smaller and smaller. So, when I have a condo buyer call me and they are on a budget, the first suggestion I make is Cornerstone Village.

Cornerstone Village GATech Off Campus Housing Condos

Cornerstone Village Midtown Atlanta

Cornerstone Village Midtown Atlanta is one of the few remaining condo buildings where you can find a 1 bedroom for less than $200,000 and a 2 bedroom for less than $300,000! Of course, there are reasons this building has lower values than some of the neighboring buildings like Viewpoint or Spire. But let’s look at all the benefits of living and owning at Cornerstone Village!

The community consists of 4 different buildings. Two are historic buildings from the 1940’s that have seen some varied uses, and two are newer construction as the development was created in 1999.

Landmark Before After

The Landmark building is the largest building, located on the corner of 5th and Peachtree Streets. Once an office building, the interior was gutted and the current condominiums created in 1998/1999. There is a variety of 1 and 2 bedroom floor plans available, ranging from approximately 625 square feet to around 1300 square feet for the largest 2 bedroom floor plan. The homes in this building feature a range of flooring from concrete to hardwoods. Exposed ductwork and original brick walls (the exterior of the building) are unique features found in the Landmark Building. The building is 6 stories and has two elevators. There are no community amenities in the building…they are located elsewhere within the community.

Cornerstone Village Manor HouseNext, we have the Manor House. This building started out as the Manor House Hotel, and later became apartments before finally becoming part of Cornerstone Village. All the homes in this building are 1 bedroom floor plans. They have a more “finished” feeling with hardwood flooring, granite countertops and finished ceilings. There is no exposed brick or ductwork. I’ve seen some homes that have had changes or renovations made to them that made them much more unique than their original plan. The Manor House has a nice lobby area, and also contains the Fitness Center, a laundry room (left over from the apartment building days…each home has washer/dryer connections) the Movie Theater, a conference room, Resident Package Room and the HOA Management office. The HOA office would be the most likely place for a club room, but it is currently not used for that purpose.

Georgia Tech Off Campus HousingThe remaining two buildings are the new construction section that was built in 1999. Originally, they were going to be apartments that shared the condo amenities. But the sales of the homes in the Landmark and Manor House spurred the developer to convert the entire complex into condos. Called The Gallery originally, these two buildings are most often referred to as the 100 and 200 building. The difference between the two….the 100 building is larger, and has two elevators. The 200 Building is smaller and there is no direct elevator access to the building. These two buildings circle the resort-styled swimming pool and entertainment deck. Here you will find gas grills and seating are for outdoor dining and poolside chillin’! Additionally, in the 100 Building you will find a bike storage room and a game room, equipped with a pool table and foosball table.

I would say the main factors that keep Cornerstone Village Midtown Atlanta more affordable is the lack of a 24-hour Concierge, and the four different buildings. So, if you live in the Landmark Building and want to use the Fitness Center, it’s not located right in the same building as you might find in the newer, high-rise buildings. But if you can save $75,000 or more on the cost of a condo, it might be worth it, right?

Amenities collage

Cornerstone Village Midtown Atlanta certainly does not lack for convenience when it comes to location. CVS Pharmacy, Gordon Biersch Brewery, Five Guys Burgers, Fresh To Order and Senor Patron’s Mexican restaurant are all just in the next block!!! On the street level of the Landmark Building, you will find El Scorpion Restaurant, Big Peach Running and recently, Einstein’s Bagels! Just behind the 100/200 Buildings on Cypress Street is Cypress Pint and Plate…with an awesome outdoor patio with a gas fire pit! This is a cool place to hang out for sure!

And then there is the convenience of everything else! Starting with Technology Square and Georgia Tech…just 2 blocks away! Need to get to the airport for a business trip or weekend getaway? The Midtown MARTA station OR the North Avenue MARTA station are about equal distance North or South from Cornerstone Village.

If you are looking for value, and want to live in Midtown Atlanta, then I encourage you to take a look at Cornerstone Village Midtown Atlanta! There is more than meets the eye to this community!~

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(all data current as of 11/19/2024)


FMLS Logo Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work, please click here to review our DMCA policy and learn how to submit a takedown request. © 2024 FMLS.
Data last updated: 11/19/24 1:30 PM PST.

Walk Score provided by walkscore.com.

 
 

 

Colony Square to Take The Roof Off With Renovation

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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!

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What Condos Have Sold in Midtown Atlanta?

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Midtown Market Report November 2015I was at my desk bright and early this morning (that would be 6:30am for me!) and I had not yet thought of a blog topic for today. So the question came to ME, and then I figured it had to come to you if you were looking to Buy or Sell a Midtown Atlanta Condo….

What Condos Have Sold in Midtown Atlanta?

And we want to keep this information pretty relevant if you are on the edge of getting ready to Buy, or the edge of getting ready to LIST your Midtown Atlanta Condo For Sale, right? So, I did a map search of the MLS (shown at the right) for the last 30 days and came up with the following results:

There were 34 condo sales in the aforementioned map area, ranging in sales price from $74,900 at Melrose Park, to $762,500 at Spire Midtown for a combined condo. (two units combined to one…specifically Number 2305….she was a beauty by the way!)

Some other noteworthy sales include a 1 bedroom at 1010 Midtown for $323,500 and a 1 bedroom at Aqua for $300,000. Y-E-S…I said a 1 bedroom! For you “How Much was that per sq. ft.?” types, 1010 was $371 per sq. ft. and $283 per sq. ft. at Aqua. The 1010 home was 872 sq. ft. vs. 1,060 at Aqua. Was one a better deal than the other? Well you certainly got more square footage for your money at Aqua. But, if you are looking at monthly costs, the HOA at 1010 is $260 per month vs. $527 at Aqua. That’s a bit of a difference on your monthly costs!

I’ve included a list below of all the 34 sales, so you can see the buildings that had sales, and the prices. Another notable fact….over half of the sales were OVER $200,000. Just showing any Buyer sitting on the fence, that waiting will probably only cost you more. Interesting note is the inventory at Cornerstone Village…. some nice options got taken up at a $150-170,000 range, and the current listings in the building ar at $160 and $190,000. Also, there are two 2-bedroom listings that have been on the market for 90 days. Buyers are looking for value, but can’t wrap their heads around the open loft-style of these two listings. (Both have walls that do not go all the way to the ceiling, so privacy in the bedrooms is limited.) Mind you, a creative agent can point out how easy it would be to close off a bedroom with minimal construction and create a totally unique space and condo for the building. But hey, that’s just my salesman mind at work!

 What Condos Have Sold in Midtown Atlanta?

What Midtown Condos Have Sold

Midtown Condo Sales

What Condos Have Sold in Midtown

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(all data current as of 11/19/2024)


FMLS Logo Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work, please click here to review our DMCA policy and learn how to submit a takedown request. © 2024 FMLS.
Data last updated: 11/19/24 1:47 PM PST.

Walk Score provided by walkscore.com.

 
 

What Are Condo Docs?

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Declaration of Condominium, condo docsWhenever I work with a condo buyer (and that is pretty much every day!) there are numerous things we do as we purchase a condo. While buying a single family home in a subdivision might have HOA rules, they are usually much more involved when you purchase, and live in a condo.

What Are Condo Docs?

In every condominium purchase contract I write for my clients, I always include this special stipulation:

SELLER TO PROVIDE FULLY RECORDED COPY OF CONDOMINIUM DOCUMENTS, CURRENT ANNUAL BUDGET AND LAST 6 MONTHS HOA BOARD MEETING MINUTES TO BUYER WITHIN THREE DAYS OF BINDING AGREEMENT DATE. IF BUYER FINDS OBJECTION WITH ANY INFORMATION THEREIN, OR THE SELLER FAILS TO DELIVER SAID DOCUMENTS WITHIN THREE DAYS, THE BUYER MAY CHOOSE TO VOID THIS CONTRACT WITH WRITTEN NOTICE TO THE SELLER WITHIN 4 DAYS OF BINDING AGREEMENT DATE AND WILL BE ENTITLED TO A FULL REFUND OF ALL EARNEST MONEY.

The condominium documents included the Declaration of Condominium and The Association By-Laws. As you can see above, I additionally request a copy of the HOA Budget and the last 6 months of HOA minutes.

What’s IN the Declaration of Condominium? Here’s a sample Table of Contents:

  • Definitions
  • Location, Property Description, Plats and Plans
  • Units and Boundaries
  • Common Elements
  • Limited Common Elements
  • Association Membership and Allocation of Votes
  • Allocation of Liability for Common Expenses
  • Association Rights and Restrictions
  • Assessments
  • Insurance
  • Repair and Reconstruction
  • Architectural Controls
  • Use Restrictions
  • Leasing
  • Sale of Units
  • Maintenance Responsibility
  • Mortgagee’s Rights
  • General Provisions

Condominium Rules and RegulationsThis particular condominium Declaration is about 70 or more pages. Your newer buildings will have much longer condo docs. But you can see there is a wide variety of things that are cover. I mean, I could do a blog post series on every topic. (Hmmmm, there’s a thought?)

It’s important for you to review this document, no matter the length. SERIOUSLY!  You may not read it in depth, but by scanning the Table of Contents and then each section, you will have a better understanding of the “Rules of the Road” for living in that condo building.

The Declaration of Condominium is filed by the Developer when the Condominium is created. You are provided a copy (especially in new construction) by the sales representative for the Developer. But in any re-sale, you must obtain a copy from the Seller. If you note in my special contract stipulation, I underlined the words FULLY RECORDED COPY OF CONDOMINIUM DOCUMENTS.   What THAT means, is over the course of years, the owners can have voted to amend, or change the condo docs. They could have agreed to change anything from a pet policy, to leasing terms to parking assignments. Each time the condo docs are changed, they must be legally recorded in with the Clerk of Superior Court in the County where the building is located. Of course, all of Midtown Atlanta will be Fulton County.

We want to see ALL the changes to the original Declaration, to make sure there is not some material change that could affect you, and how you live and enjoy your home.

The Association By-Laws are simply the rules and make up of the Homeowners Association, or HOA. Equally Important, as they will spell out the makeup of the Board of Directors, Meetings, and the Powers and Duties of the Board. (Yeah, this is important!)

As we obtain, and review these documents, I’m here to answer any questions you may have. Your lender, if you are obtaining financing, will certainly review the budget to look for things like reserve fund balances and the income and expenses of the association.

It’s all good…and certainly nothing that should “scare you” when you look at these documents. When you live in close proximity to your neighbors, and share common things (walls, hallways, club rooms, etc.) you need to have “rules of the road”  to guide everyone!

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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