Atlanta Condos For Sale

Is The Metro Atlanta Home Inventory That Low?

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Metro Atlanta Home InventoryLet’s face it, real estate kind of makes the world go around. After all, it was the real estate bubble that sent the entire economy into a tail spin. And it is the rise of the housing market that will also help move the economy forward.

Just think, as more homes, condos (or in the Midtown Atlanta case….apartments!) are built, we will need more carpet, sheetrock, cabinets, light fixtures, concrete, pool chairs….the list goes on and on.

Is The Metro Atlanta Home Inventory That Low?

But as a real estate broker, I’m often asked about the inventory of homes for sale. I always, always first answer that question with the statement that real estate is local, local, local or as you may have heard, location, location, location. What that means is what is happening in Midtown Atlanta does NOT mirror what may be happening in Gwinnett County or Alpharetta.

But the recent Case-Shiller Report for Atlanta shows just how low our inventory is! Again, keep in mind this is for the Metro Atlanta area, NOT just Midtown Atlanta!

Is Atlanta real estate inventory low

What does this mean? Well, if you are shopping for a home or condo in the $100-200,000 price range, there is some really limited inventory to choose from. If you are shopping at $500,000 and above, you might find a few more options to choose from.

And some Sellers are reluctant to place their home on the market for the very reasons above. “Will be we able to find a place that we like with such limited inventory?” “If our home goes Under Contract quickly, will we have time to find something?”

Hence, it becomes the Seller’s market, because of this low inventory, many homes go Under Contract immediately (or within a couple days) and multiple offers is not uncommon!

Yes, the Metro Atlanta home inventory For Sale IS that low!

Who Does The Closing Attorney Represent?

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Buyers Agent for Midtown Atlanta CondosThis is not a bad question, and one I’m often asked! Purchasing a home or condominium will be one of the largest investments you make in your lifetime, and you want to know things are being done right.

Who Does The Closing Attorney Represent?

This is the perfect time to point out that real estate is local! How things are done in say California does not mean how they are done in Georgia! Your real estate agent may have covered this part of the home buying process with you, but in Georgia, the closing attorney represents the lender who is giving you the mortgage!  On closing day, your lender sends a “package” to the closing attorney which is basically the instructions and documents the lender wants you to sign in reference to y0ur mortgage. If I’m representing you as the Buyer, I will be with you at closing in case there are any questions, but the documents you are asked to sign are required by your lender.

Now, this stack of paper can be rather intimidating! The closing attorney SHOULD briefly explain what each document is as you sign them. You will not have seen most of these prior to closing. If you DO want to read them in advance, this is an important conversation for you and I to have with your chosen lender. Many times, the loan package is not delivered to the attorney until 24 hours before the closing. The attorney needs to know you want to review the documents BEFORE closing so they can have them prepared and emailed to you in advance. This takes some coordination between the lender, myself as your agent and the closing attorney! 

By the time you have reached the closing table in Georgia, an attorney is not really necessary to represent you. And while the Georgia Purchase and Sale Agreement has been carefully drafted to protect BOTH the Buyer and the Seller, that may be the time you would want to consult with an attorney. If you have any concerns about the process, just ask me and if it’s not something I’m knowledgeable about, then we can determine the professional (attorney, accountant or other) that you need to talk with!

The Closing Day is an exciting one! It should not be stressful and is the start of a new chapter of your life in your new home!

 

Where Can I Buy Furniture for My Midtown Atlanta Condo | IKEA

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Where Can I Buy Furniture for My Midtown Atlanta Condo | IKEA

IKEA Atlanta at Atlantic StationCongratulations! You’ve closed on your new Midtown Atlanta condo, and you are moving in. As you moved out of that old rental apartment, you started to toss! I mean, I’ve got a new place! I want NEW stuff! I want it to be stylish and cool and you know….

Which probably means that old couch and maybe a recliner…they did not make the cut for the moving van! So now the question is, Where Can I Buy Furniture for My Midtown Atlanta Condo? We will look at numerous options in the Midtown area…and beyond. But let’s start with a close favorite….IKEA!  The Atlanta IKEA store is located alongside Atlantic Station off of 17th Street!

The IKEA concept comes from the idea of providing home furnishings that are affordable. If you’ve ever purchased anything at IKEA, you know the one way the keep costs down is to have you assemble the furniture yourself. Hence, you will see much of the items in big flat boxes. If the assembly gig is not for you, never fear. They now even have a service that will come and do the work at your condo for you!

IKEA AtlantaI’m not going to dish them, but I have purchased some items that did not hold up well, and others that are outstanding. My office desks/tables are all from IKEA! I once managed a corporate condo that was almost entirely furnished from IKEA…as you can see, it looked pretty nice!

But you can truly furnish your entire condo from this store! From silverware in the kitchen to towels in the bathroom, you can get most everything you need here. I’ve never purchased a bed from here, so I can’t speak for them. One thing I like about most of their furniture is its clean, simple lines. That big pillow sofa that your parents gave you may have fit in the apartment, but may not work well in your condo space. The furniture here is just designed to work well in the kind of space you get in a Midtown Atlanta condo!

If you are going to visit IKEA, here is the number one piece of advice I can give you….

DO NOT GO TO THE STORE ON A SATURDAY OR SUNDAY. EVER!

IKEA stores are known to draw from a wide geographic area. Look at this map of where stores are in relation to Atlanta…

IKEA STORES NEAR ATLANTA

 

The Atlanta store draws from Georgia, South Carolina, Alabama, Mississippi, and Tennessee! So it’s a weekend destination! The store will be crowed, the parking lot packed, and the lines…..UGH!

You live locally, so take advantage of evening visits! Walk the store, get your ideas and either buy them then, or make a return visit, but just NOT on Saturday or Sunday. If you have a weekday off, stop by the IKEA restaurant for a breakfast special to fuel you for the store.

Why? If you’ve never been to an IKEA, they are HUGE! But the store is well laid out with displays that lead you through all the parts of the home. Everything is labeled, and you find most of it in the IKEA Marketplace, on the lower level. Furniture is found in the self-service area past the Marketplace and before you check out.

IKEA Atlanta! A perfect answer to the question, Where Can I Buy Furniture for My Midtown Atlanta Condo?

Midtown Atlanta Market Report | March 2014

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Midtown Atlanta Market Report March 2014Midtown Atlanta Market Report | March 2014

It takes time to gather all these numbers indeed~ But it’s still important information for any Buyer or Seller looking or living in Midtown Atlanta!

The Midtown Atlanta Market Report covers 27 major condominium communities located in Midtown and West Midtown! As you can imagine, it takes a moment or two to put this historical picture together of the Midtown Atlanta condominium market. And it is important to remember that this is a snapshot, moment in time look at the market!!!! 

Why do I say that? Literally as I was preparing this report the number of active listings in some buildings would change! Seriously! It might be a new listing, or one just went Under Contract! It’s a busy real estate market in Midtown Atlanta.

If you have any specific questions about this report, or a building in particular, please feel free to call me or complete the contact form below! I’d be happy to assist you.

And now…

Midtown Atlanta Market Report | March 2014

 

Building

SOLD 1BR 2014

 Avg List Price Avg Sold Price SOLD 2BR

Avg List Price

Avg Sold Price

Average SOLD Price 2013 1BR/2BR

#Active Listings
Ansley Above the Park  0 $0 $0 1 $369,000 $362,000 $0/196,500  1
Above 4 Seasons  0 $0 $0  0 $0 $0 $  5
Aqua  0 $ $ 2 $ $ $700,000 (3BR)(2014)  1
Biltmore $ $ $ $ 0
Cornerstone Village 1 $135,000 $130,000 0 $0 $0 $94,667/0  5
Cotting Court  0 $ $  0 $ $ $ 1
Dakota  1 $249,000 $242,000 4 $354,000 $352,000 $0/0  2
Luxe  0 $0 $0 0 $0 $0 $0/553,625  2
M West  0 $ $0 4 $232,000 $230,000 $0/193,030 5
MidCity Lofts  1 $219,000 $195,000 0 $0 $ $165,000/0 5
Metropolis  2 $202,950 $200,000 0 $0 $0 $135,000/262,000  14
Mayfair Ren/Tower 0 $0 $0 0 $0 $0 $0/219,000  9
Park Central 3 $159,900 $158,333 2 $219,500 $214,500 $134,000/212,125  2
Park Vue  1 $159,900 $150,000  0 $ $ $  1
Peachtree Lofts  0 $0 $0 1 $279,000 $279,000 $149,950/0  9
Peachtree Walk  0 $0 $0 0 $0 $0 $0/157,000  2
Plaza Midtown  2 $199,450 $190,750 3 $343,233 $331,533 $168,500/303,333  13
Spire  2 $179,450 $175,300 1 $340,000 $325,000 $179,750/303,000  12
Tuscany  13 $136,500 $125,954 8 $202,975 $192,935 $114,967/197,609  1
Viewpoint 1 $209,000 $205,000 6 $343,066 $333,708 $191,450/355,000   13
White Provision  0 $0 $0 2 $337,500 $322,500 $213,412/314,000  11
Windsor over Peachtree 0 $0 $0 0 $0 $0 $76,000/0   1
805 Peachtree 0 $0 $0 0 $0 $0 $0/0   4
905 Juniper 0 $ $ 0 $0 $0 $0/0  2
1010 Midtown 1 $248,000 $242,000 0 $0 $0 $237,700/536,200   7
1280 West  1 $129,900 $123,000 0 $0 $0 $76,333/136,000  8
 THE REYNOLDS  0 $0 $0 0 $0 $0 $0/0 5
 
 
 
 
 

 

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Midtown Atlanta Condos For Sale |But Are They Really?

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condo hoa feesAs a real estate broker and blogger, I most often like to write my own content. If you know me, you can pretty quickly tell a lot about me just from my writing style. I tell it like it is, but all too often in a nice way. (That’s my hospitality training that has been embedded into me!) But not the reason for this post!

As a Midtown Atlanta condo buyer, you are looking for one thing… Midtown Atlanta Condos For Sale. Right? Now you have your specific wants and needs, but overall, when you come to MyMidtownMojo.com or our totally rock it out new search site, your primary goal is to see WHAT Midtown Atlanta Condos are For Sale. Right?

So why is it when you venture off (what did your Mother tell you about not taking the sidewalk on the way to school) to one of those Big Guys sites, you find these condos, but then, when you call me, I either can’t find the same listing…or it’s not really For Sale.

Click on over to The Internet is For Sellers and Real Estate Agents, Not Buyers! 

I could not say it better myself if I tried.

A Virtual Fly Over of Midtown Atlanta

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Today, I was working to clean up old emails that I had saved. Like from a YEAR ago! Subjects that I have wanted to blog about, but have never gotten around to! Many were no longer relevant, and others I can still work with.

One of those was a virtual fly over of Midtown, leading to Atlantic Station. If you’ve wanted a bit of a Bird’s eye view of the area, this is pretty cool.

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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