Midtown Atlanta Condominiums Archives

Renting In Midtown Atlanta – What to Expect?

December 13, 2011 by Thom Abbott

Metropolis Midtown Condominiums So you are ready to call the center of Atlanta home! Awesome! But you need to know What to Expect when Renting In Midtown Atlanta.

First off, most of your rental opportunities in Midtown Atlanta will be of the condominium-type. There are limited single family homes, and those that there are, come pretty big!

When Renting in Midtown Atlanta, you should expect to make a decision quickly in this rental market. If it is priced right, and in a good location, it is going to move fast.

Don’t expect Renting In Midtown Atlanta to be cheap. Remember, you are not renting an apartment. You are renting a condominium that is either the personal home of someone or is owned by an investor. Either way, they have a mortgage, property taxes, insurance and home owners association dues to pay. Most property owners don’t expect to have all of these expenses covered in the rent they charge, but they certainly want to at least cover their mortgage. For a respectable one bedroom condominium, you should expect to pay from $1000 to $1600 per month. (A $1000 should be considered a bargin and unless its in a run down building….JUMP on it!) A two bedroom could range from $1800 to $2500 per month. Rental rates will vary based on what the owner is hoping to cover from the rent, and what they may have initially paid for the home. If they bought at a lower price, they maybe able to rent for a lower amount.

When Renting in Midtown Atlanta, expect to pay a deposit equal to one month’s rent. This is a “standard” amongst condominium rentals, and again it’s not like an apartment complex where the landlord owns the entire building. Again, you are renting from an individual owner who wants to have some “security” in case you skip out on your rent, or cause damage to the condo.

Expect to fill out an application, provide previous rental history, employment history and have a copy of your credit report pulled. Additionally you may need to provide a copy of your driver’s license and paycheck stubs to verify your identity and your income.

Renting in Midtown Atlanta will help you learn the area and what it’s like to live in an urban area as well as a high-rise building.

Looking to rent in Midtown Atlanta? I’d be happy to help you, and completing our Rental Questionnaire is the perfect place to start.

If you are currently renting and have wondered about the possibility of owning a Midtown Atlanta condominium, why not contact me? I can answer any questions you might have about the differences of owning versus Renting In Midtown Atlanta and what to expect.

For More Information on how we can best serve your InTown Atlanta Real Estate needs, please fill out the online contact form or call us at 770.713.1505.

We specialize in InTown Atlanta Real Estate single family homes and condomiums. If you are planning to Buy InTown Atlanta real estate, let us help you explore all the possibilities available to you and help you find just the right home you will LOVE!

Please use the following links to Search for Homes by Intown Atlanta Neighborhoods or Zip codes!

Brookhaven/Ashford Park 30319	Buckhead 30305
Buckhead 30327	Buckhead 30342
Chamblee 30341	Decatur 30307
Doraville 30340	Downtown Atlanta 30303
Druid Hills 30329	Dunwoody 30338
East Atlanta/Ormewood Park 30316	East Lake/Kirkwood 30317
Grant Park 30312	Midtown Atlanta 30308
Midtown Atlanta 30309	Midtown West/Collier Hills 30318
Morningside 30306	Morningside 30324

Are you looking for a specific Intown Atlanta neighborhood to focus on? Contact Thomas Ramon Realty and we can set up a search for any specific neighborhood you are looking for!

Renters Should Be Runners – Renting an Atlanta Condominium

December 4, 2011 by Thom Abbott

I’ve got a couple rental listings at the moment, but also have daily inquiries about rentals here at MyMidtownMojo.com. I’ve shown rentals to individuals who then want to “think about it for a day or two” and get back to me. When they do, they are quite surprised when I tell them the condo they most liked is no longer available. In fact, sometimes I think they really don’t believe me when I tell them that. If you are Renting an Atlanta Condominium, Renters should be Runners!

Also, I find that many potential renters have “champagne tastes on a beer budget.” Ok, I don’t mean to be rough, but when I’m asked to find a one bedroom condo for $1100-1200 per month and the potential tenant says, “and I only want to live in a high rise,” I have to give them a does of reality. Ok, you possibily could find one, but it’s highly unlikely. I have to remind tenants that they are renting someone’s personal home and with that home is a mortgage payment, property taxes, insurance and homeowners fees. The only part of the financial equation they are contributing to is the mortgage payment. And often times, the monthly rent does not even cover THAT!

So, when a well priced rental comes on the market…it’s gone much like the runner in a 100 yard dash. QUICK!

How Can I Find A Condominium For Rent?

Well, there are a couple ways. You can make 10 or 15 calls to 10 or 15 agents that might have one rental listing each. I always encourage my rental clients to look at Craigslist as well. Some rentals will be posted by other agents here, but not yet listed in the traditional listing service. Or you may find a private owner that is trying to rent. A word of caution about renting from an individual owner. Are they current on their mortgage payments? Are the current with their homeowner’s dues? Are they current with insurance premiums?

Or, you can call ONE real estate agent, tell them what you are looking for in both amenities and lifestyle by completing a Rental Questionnaire, and let them do all the work for you. They will schedule viewing appointments, and assist you with your lease, depending on if you have choosen to have them represent you in the leasing process. Much simpler than you making 10 or 15 calls!

How Can I Get The Condo Rental That I Want?

First off, have your rental application completed. Secondly, if you have a copy of your own credit report, provide it to your real estate agent. By having these two crucial pieces of the rental process in place, you can quickly move on a rental you find. Often times, the listing agent may still want you to pay an application fee and they pull a credit report, but by having this step already completed, you will be a step ahead of your competition, another renter! Third, make sure you have access to money for your deposit. In the Atlanta rental market, this is usually one month of rent. If you have any issues with your credit or past rental history, be prepared to pay an additional deposit, up to first, last and the security deposit. So, on a $1500 per month rental, this could be $4500 needed to get into the condo you have choosen.

But, put on your running shoes if you are renting an Atlanta condominium. When priced right, and in a great location, it very well may be gone before you even leave the starting line.

Search Midtown Atlanta Condos For Rent HERE!

For More Information on how we can best serve your InTown Atlanta Real Estate needs, please fill out the online contact form or call us at 770.713.1505.

Please use the following links to Search for Homes by Intown Atlanta Neighborhoods or Zip codes!

Brookhaven/Ashford Park 30319	Buckhead 30305
Buckhead 30327	Buckhead 30342
Chamblee 30341	Decatur 30307
Doraville 30340	Downtown Atlanta 30303
Druid Hills 30329	Dunwoody 30338
East Atlanta/Ormewood Park 30316	East Lake/Kirkwood 30317
Grant Park 30312	Midtown Atlanta 30308
Midtown Atlanta 30309	Midtown West/Collier Hills 30318
Morningside 30306	Morningside 30324

Are you looking for a specific Intown Atlanta neighborhood to focus on? Contact Thomas Ramon Realty and we can set up a search for any specific neighborhood you are looking for!

Midtown Atlanta Community Recycling Center

November 30, 2011 by Thom Abbott

I think there are many an individual in this world that think our resources are endless. We will never run out of clean water, fresh food, trees for lumber, etc. Along the same lines, these same people probably do not believe in global warming or how wacky our weather seems to be in the last few years. And they probably figure that throwing a used ink cartridge or old remote control into the garbage will not hurt anything either.

Well, they probably aren’t, it quite possibly is, yes it does.

So the next time you clean out your closet, garage or storage unit, think twice before you just toss that stuff in the garbage. Take it to the Midtown Atlanta Community Recycling Center, sponsored by Keep Atlanta Beautiful. Held the second Saturday of each month, (the next being December 10th) it’s conveniently located in Old Fourth Ward at the former Walden Middle School at 320 Irwin Street, ATL 30312. So, just what will they take for recycling?

I’ll just bet you’ve thrown one of those items in a garbage can before? I know I have!

They also do paper shredding! Perfect place to get rid of those tax receipts (not your return…save that baby!)

Be sure to visit the Midtown Atlanta Recycling Center and do your small part to help the enviornment for the people that will follow us!

Thom Abbott Midtown Atlanta 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

Atlanta Condominiums. Will They Rise Again?

November 17, 2011 by Thom Abbott

Whether you are new to the Atlanta condo market, considering a move to Atlanta, or have been here for the “ride” the last few years, you know that our market has suffered all the same troubles taht the other real estate markets have gone through. The question for Atlanta Condominiums…Will They Rise Again?

Atlanta has gone through the less than bright economy, tightened lending, and buyers with Deer Headlight Syndrome(DHS). What is DHS? It’s kind of like a deer in the middle of the highway when the car lights hit it…..they just freeze,blinded by the light and unable to move. We’ve even had some developments go to foreclosure (not a developer issue but a lender issue in this case) and now watched them return to the market.

Atlanta condominium sales are up over last year, but prices are down. So, Atlanta Condominiums, will they rise again?

Take a look at some current inventory numbers. In the Intown Atlanta Markets, there are currently 1,230 listings of attached homes priced at $300,000 or less. (Intown is defined by Areas 21, 22, 23 and 24 in FMLS) The number of unsold units in active condominium communities is at its lowest point since 2003.

New developments are scarce indeed. In the Midtown Atlanta Real Estate Market, you have The Atlantic Residences, 1010 Midtown, White Provisions, Viewpoint Midtown (only about 5 homes remain here) and on the fringe of Midtown, The Brookwood.

2012 very well may be the year that the prices start a climb. Inventory is really low! A search today showed some buildings with as little as 6 homes available! Buyers, once cured of DHS will suddenly realize the options available to them are not as much as they thought.

2012 and Atlanta Condominiums. Perhaps the well know Atlanta phrase says it best….”the Pheonix rising from the ashes.”

How Much Space Do You REALLY Need?

November 14, 2011 by Thom Abbott

We are already starting to see changes in building trends. But, we ARE still building big homes. Sure, if you have 3-5 kids, relatives visiting all the time, etc. you need some space. But, in the United States, we have a tendancy to think big and that we need all this space.

But do we really? If designed properly, how much space COULD you live in? The smallest condo I’ve seen in Midtown Atlanta happens to be one I use to own. At 606 sq. ft. most people found the space way to small to live in. Of course, it was not my full-time home, so I had room in my house to keep my “stuff.” But, along with the size of the house, there IS all that stuff? Do we really need it?

Could you live in 258 square feet? Maybe, if designed right. I know my 606 square feet were certainly not designed to best use of space, but had I lived there full time, I had already discovered ideas of ways I could of made the space work for me.

But, here IS what you can do with 258 square feet!

Midtown Atlanta Market Report January-October, 2011

November 13, 2011 by Thom Abbott

Nowdays, most people know the real estate market is in tough shape. But, real estate is still a very local topic. And when I say local, what is happening in the Metro Atlanta area vs. the Midtown Atlanta Market can be vastly different. And when I review the sales for the Midtown Atlanta area, the numbers will appear different than reported by Smart Numbers, the data company that tracks Atlanta real estate trends.

My report covers a specific area, as the map below shows:

Here is what the sales have been in the Midtown Atlanta Market area for January-October, 2011:

The year started off slowly, picked up steam in July, cooled a bit for August, jumped up in September, and has been back down for September and October.

And here is the Average Sales Price in the Midtown Atlanta Market area for January-October, 2011.

The January high is partially cause by a couple high-end sales that closed that month. An average of $182,350 seems to be a bit more in line.

Keep in mind, monthly numbers can be looked at and reported in so many different ways. If one month, say September as an example, has a big drop, it just shows that buyers picked up more of the lower priced condominiums that were on the market. October shows a jump back up to more consist prices with the rest of the year.

Overall, inventory is down in Midtown Atlanta Condominiums. Buildings that have had 20 and 30 homes for sale, now might have just 10 or 12 listings. As a Buyer of a Midtown Atlanta Condominium, that can be challenging for you. Not much to choose from. So, if a condo is priced right and not a short sale, it has the potential to sell quickly.

On the flip side, if you are considering placing your home on the market, you need to price it right. If done so, it should sell quickly, despite a more limited number of buyers in the marketplace right now. Overprice it…and it will sit.

Currently, the only new inventory available (with some minor exceptions) is 1010 Midtown and The Atlantic Residences. So a Buyer looking for brand new does not have much in the way of options. And with no new construction on the horizon, this should help the resale values climb in the coming months.