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State of The Union Year End 2013
The year is quickly coming to a close. The last client Sale Transaction close for the year was last Friday. My clients closed on a very nice three story new Duplex style home in the 4th Ward just steps from Inman Park and the Highland Bakery. With that close it brings the ATL Condo Deals volume for 2013 to $7,000,000 worth of sales transactions. This of course does not include the rental, or management fee revenue for the year, thus 7 million is a very strong year and is in fact the best year yet for my firm. 2013 being the strongest year should be no surprise. For...
State of the Union November 2013
It is November 2013 and it is COLD. It was a low of 25 this morning. The Condominium and Single Family Home market has finally cooled off a bit as well. Both listings and contracts for sale are slowing down across Atlanta with the seasonality taking its toll. Nevertheless my clients are still obtaining some of the best values out there at some of the best buildings. between October and November my clients are purchasing over 1 million dollars worth in 1010 Midtown, Buying and Selling nearly 1 million dollars worth in The Viewpoint, and are also buying homes in the East...
Skin in The Game, and other Real Estate musings
So about two months ago I was showing off a nice 33rd floor Viewpoint corner listing of mine. My listing has since sold for 98% of the listed $384,900 price. That said at the time I had a number of other Agents come and bring their clients to the property. One Agent, whom I had dealt with a number of times but never in person was showing his client my listing while I was there. At the time I asked him where he lived, and he proceeded to tell me that he leases a place in Buckhead. I was really surprised to hear this, and immediately I proceeded to let him know that...
Foreclosures Vs. Relocations, Vs. Shorts Sales and Approved Short Sales
As I meet with Buyers, especially new home Buyers I tend to relay this message over and over so I thought I would just blog it on here today. In this post, I am going to walk through the four kinds of “distressed sales”. 1.) Foreclosures Foreclosures are historically one of my favorite kinds of Real Estate to help my Buyers purchase, and to purchase for my own portfolio. With a foreclosure, historically the price has often been below market and depending on how long the property has been on the market, considerable concessions could be had. Recently, one of my clients...
Atlanta home price continue to rise
The Case Schiller Index numbers for July came out today. Atlanta was 5th out of the 20 cities in terms of year over year growth. At +18.5% for the Metro Area, times are good for those who own Real Estate. The inventory of condos, and homes is down significantly from last year. See the link below and the attachment within it for the details: http://www.housingviews.com/2013/09/24/home-prices-steadily-rise-in-july-2013-according-to-the-spcase-shiller-home-price-indices/ This week mortgage rates have moderated for the first time in weeks. The 30 year on a good day has come...
The Atlanta Beltline’s primary beneficiary: The Old 4th Ward District
Happy Monday to all! I spent the weekend enjoying the final rays of summer. The pool at Astoria, dinner at Rathbun Steak, and walking around the both Old Forth Ward and Inman Park. All I have to say is WOW! Old 4th Ward is clearly becoming the hottest neighborhood in town. The pricing action on homes situated East of Boulevard is remarkable. This weekend, while working with a young couple moving down from NJ, I saw and researched first hand the action going on in this area. Homes are climbing in price at the fastest rate I have seen intown. Many of you I have spoken...
August 2013 Best Condo Deals
OK, so I really have not been blogging as much as I would like given how busy I have been this summer. That said, I am going to try and starpooolt noting the best ATL Condo Deals monthly. This will a rough patch primarily focused on Atlanta Intown condos with a particular emphasis on Midtown, Buckhead, Atlantic Station and Inman Park. Below is a rough and loose cross section of the some of the best deals I have seen this month. As I last checked these condominiums were available. But given that they are good deals in a strong market, then may be gone now. These are not my listings...
1010 Midtown sells entire remaining commerical portfolio of 38,000 square feet
OK, so this just hot my inbox at 3AM Saturday morning. It seems that 1010 Midtown finally sold all of their retail in the building. Looks like the 38,000 square feet went for just under $400 a square foot. Upon first glance, I think that sounds like a pretty good price. The Bank of America Branch was the only slot on the bottom floor which was not currently held by 1010. Thus the remaining tenants including CB2, Mi Cocina, Piola, RiRa, Ra Sushi, Panera Bread, and soon to be announced dining destination from an “in” chef, all were included in this 15 million...
Increasing Demand for Luxury Condos in Atlanta. As reported by the Wall Street Journal August 2013
The Wall Street Journal focused on the Ultra-Lux ATL Condo segment last Wednesday. It is an interesting article. All true! Have a look if you missed it last week- http://online.wsj.com/article/SB10001424127887323610704578628143382936034.html The market recovery is well on its way to an even greater shortage of available product next year. Note in the article where is mentions how inventory has evaporated by 90%! Recommend on Facebook Share on google plus Share on Linkedin Share via MySpace Tweet about it Print for later Bookmark in Browser Tell a friend
Just released – May 2013 Case-Shiller Housing Index shows the Atlanta Market leading the charge!
Atlanta saw some of the most robust growth for May 2013. Up 3.4% just over over the prior month! Up over 20% over the prior year. As I mentioned in my prior post the rate of growth is finally beginning to subside, but even so the Atlanta market is still FAR OFF of its all-time highs. Recommend on Facebook Share on google plus Share on Linkedin Share via MySpace Tweet about it Print for later Bookmark in Browser Tell a friend
