Atlanta Avenues Realty Associates

State of the Atlanta Real Estate Market

noreply@blogger.com (Brent Botes) — Fri, 11 Sep 2009 21:58:00 +0000

To say that the Atlanta Real Estate market has taken a dive is an understatement. The market conditions are so soft that not only are Sellers struggling to Sell, but some Buyers are having a tough time trying to close on a home. Case in point are 3 clients of mine who we have all negotiated deals on either a foreclosure home or a short sale (THEY ARE NOT SHORT AT ALL!!) and most have been waiting up to 3 months just to get an acceptance from the Bank.

Buyers are frustrated as their patience is tested and interest rates have increased, albeit only a miniscule percentage increase... but every bit helps, right!! We still find some Sellers clinging to the idea of getting top dollar for their home, when in actual fact us Realtors can find comparable homes in their neighborhoods for a whole lot less. Respectfully, some Sellers cannot afford to sell for less, but those who have the equity invested and who MUST sell... it's time to cut your losses and run. Look on the bright side, those Sellers (along with their Listing Agent) who are realistic in their approach to marketing their home can potential CASH IN on a deal when they buy their next home.

There are definitely deals out there and to prove my point, take a look at the Condo Development in Buckhead called Terminus. Terminus is owned by Cousins Properties of Atlanta and they have had incredible success with their most recent promotion of slashes prices for most of their inventory by up to $300k. They have SOLD 9 units in 7 days and if any of you have never seen this development.... do so, because Terminus rocks!!!

Atlanta Luxury Homes

noreply@blogger.com (Brent Botes) — Thu, 10 Sep 2009 20:54:00 +0000

The Atlanta Luxury Real Estate market offers so many unique and gorgeous custom homes located in all parts of the city. Many Atlanta Luxury Homes are reminiscent of old-fashioned charm and architectural splendor, but with the upgrades of modern day conveniences.

When it comes Atlanta Luxury Homes, locals always reserve a bias as to the best areas or best Luxury Home Builders in Atlanta. A few noteworthy areas to consider when searching for a luxury home would be Alpharetta, Brookhaven, Buckhead, Duluth, Dunwoody, East Cobb, Roswell and Vinings. However, we would better be able to point you in the right direction by listening to your needs and giving you the best possible advice accordingly.

Search through our Database of Atlanta Luxury Homes, simply click on a county (to the right) and then browse through the many Atlanta Luxury Home Communities we have to offer. It would be our pleasure to provide you with all the information you need or, to take you on a guided tour of any of these fine homes.

Atlanta Mortgage Lenders - why it's best to use local!

noreply@blogger.com (Brent Botes) — Thu, 10 Sep 2009 20:53:00 +0000

We cannot emphasize enough the importance of using a local Atlanta mortgage lender. More often than not, Homebuyers relocating to the Atlanta area are set on using a mortgage lender from their state because the lender may be referred by a friend or relative, or they are trying to go through their local, familiar banking center ... Unfortunately, using the out of state lenders can cause many problems and slowdowns to occur throughout the loan process.

Local Atlanta Mortgage Lenders know the specific closing and Real Estate laws of Georgia, whereas out of state lenders tend NOT to be familiar with the closing protocol. The last thing a Homebuyer wants or needs when buying an Atlanta home in a new city is to have last minute problems with their loan which will delay their closing or cause unnecessary stress to all involved. We want your home buying experience to be fun and as stress free as possible, so please consider using a local lender. (If you choose to use a lender from a large Corporation such as Wells Fargo, Chase, or Bank or America, they do have local branches in the Atlanta area.)

Atlanta City Living VS Atlanta Suburban Living

noreply@blogger.com (Brent Botes) — Thu, 10 Sep 2009 20:52:00 +0000

For those living in the city, Atlanta offers a fashionable night life with amazing Restaurants and Bars and the convenience of having all 4 Atlanta professional sport team arenas right in downtown, Atlanta.

Areas such as Vinings, Chastain, Brookhaven, Five Points, College Park, Virginia Highlands and Buckhead make up some of the trendy neighborhoods of inner city living. Of these areas, Buckhead is the most notorious, offering extravagant Atlanta Highrise living, some of Atlanta's best restaurants (check out Buckhead Life Group) and exclusive malls such as Lenox Mall and Phipps Plaza.
City living however, may not be for everyone, and Atlanta city living is no exception.

Inner city Atlanta Real Estate is rather expensive for some (but quite inexpensive when compared with NY City, San Francisco, or other such areas), real estate taxes are higher than in the suburbs of Atlanta, and traffic is a little more congested, but in closer proximity perhaps to your workplace!

From incredible golf and tennis communities to wonderful Atlanta Equestrian neighborhoods, suburban Atlanta Communities and Neighborhoods offer a dream lifestyle for those who have families or children or those active singles looking to swim, golf, play tennis, volleyball, etc. on a weekly basis. Atlanta Golfing Communities offer some of the finest Real Estate and amenities for those looking to relax and unwind from the week.

Real Estate taxes are less expensive in the Atlanta suburbs, schools tend to be rated higher than in the city (unless they are attending a private school of course) and Real Estate prices are...... well, let's just say you get much more BANG FOR YOUR BUCK when living in the suburbs!!

Depending on what side of the city you choose to live in, the Atlanta northern suburbs of Alpharetta, Cumming and Duluth offer you the added relaxation of Lake-side recreation on Lake Lanier, whereas the areas of Canton, Woodstock, Acworth, Kennesaw and Marietta offer water sport activities on Lake Allatoona.

Atlanta Real Estate - deciding where to live!

noreply@blogger.com (Brent Botes) — Thu, 10 Sep 2009 20:51:00 +0000

As your Atlanta Relocation Specialists, we are here to provide you with expert advice on areas we believe would be a perfect fit for you and you family according to your needs & desires.

For any business professional or family looking to relocate to Atlanta, it can be quite frustrating, because finding the most desirable area in Atlanta is rather confusing without expert knowledge of the many areas Atlanta has to choose from. Atlanta Homes for Sale are plentiful, so once we have narrowed down a general area or Atlanta suburb that you & your family are comfortable with, finding the home that best fits your needs becomes much easier & a lot more fun!

From our experience in dealing with families and professionals moving to the Atlanta areas, we have found that price, distance to work, and proximity to schools and shops are 3 major determining factors when buying a home. We are here to answer all your questions about these factors and many others, with our expertise and friendly advice!

Families relocating to Atlanta tend to enjoy the suburban community type of living, as here they can enjoy lower priced homes, excellent schools, and communities that are typically closer to the many Atlanta Shopping Malls.
Business Professionals, on the other hand, seem to gravitate toward living in the City of Atlanta where exclusive Atlanta Condos offer majestic views to the Atlanta City skyline, as well asa fashionable night life with amazing Restaurants and Bars. Because of the close proximity & convenience to the city, however, these homes/condos come with higher taxes, higher prices and more traffic congestion than the Atlanta Suburban Areas.

Atlanta Real Estate - the Business side of Atlanta

noreply@blogger.com (Brent Botes) — Sat, 02 Feb 2008 13:50:00 +0000

And yet, another great reason to move to Atlanta

Atlanta is one of the top five cities with the most Fortune 500 Companies. (10 top Corporate Employers in Atlanta -Delta, The Coca-Cola Company, Southern Company, The Home Depot, UPS, Sun Trust, Beazer, Georgia Pacific,)
So, why does this matter in the Atlanta Real Estate market?

For starters, there are plenty of job opportunities with great advancement potential in a major corporate business.
Because of the affordable housing, low cost of living and Fortune 500 companies located in the Atlanta area, Atlantans get more, spend less, and have more jobs because of the Big Business companies. Convinced yet?
Stay tuned for more…..

Atlanta GA Real Estate - Relocate to Atlanta

noreply@blogger.com (Brent Botes) — Fri, 01 Feb 2008 02:22:00 +0000

Atlanta...living the good life!

Atlanta, GA … I am so lucky to live here. Is it luck or was it the decision I made to move to a big city with a cost of living actually far below the U.S. average? Maybe I did just get lucky, or maybe I also decided to continue living in a city that has no bubble to burst in the real estate market. With steady appreciation rates of less than 7% (far below the national average of 9.7%) Atlanta is not even in danger of experiencing a housing bubble! I am lucky to live in Atlanta, GA for sure, because I also enjoy southern hospitality on a regular basis, paying less for Dr. visits, spending less on movie tickets, and my water bill is too low to raise an eyebrow over.

When are you going to change your luck?

Atlanta Condos - the market is going condos!

noreply@blogger.com (Brent Botes) — Thu, 22 Nov 2007 14:26:00 +0000

Staying put? It's a great time to buy a Condo in the Atlanta Real Estate Market!

Across metro Atlanta, about 9,000 existing condominiums are for sale and another 17,000 new units are planned, indicating that the city's condo market is becoming oversupplied. The city has almost a one-year supply of condos on hand, say real estate agents. However, while the nation as a whole has experienced a slow down in real estate condo sales, many realtors in Atlanta say they are not feeling the pinch as hard as other areas. Condominium sales in Atlanta have continued to hold their own through a period of heavy local growth, pitted against sluggish national sales.

In Atlanta, new condos are becoming a lifestyle choice for many people, from fast-paced corporate personnel to retirees wishing to immerse themselves in the downtown culture. The city is drawing people from all over the world who want to experience Atlanta's inherent hospitality, and strong commerce and industry. New residents are on their way, and builders are responding with prime locations and customized condo units.

Geoffrey Greene, real estate consultant for The Art of Real Estate says Atlanta is further becoming a top cultural and business destination of the south. Also, in the longer term, the percentage of baby boomers moving into retirement could also bode well for condos. Eighty percent of all condos in 2004 were owned by people 55 and up.

If developers pull back on new construction, and the economy and interest rates remain on course, the supply issue could correct itself in many markets in about a year or two. However, condo owners and potential buyers should be aware that it may be best to invest in a condo if you plan on staying put for a while… possibly up to 5 years or more. Of course, for buyers, this means condos may be a deal. A Buckhead penthouse Motley listed was originally priced at $1.2 million and is now priced in the $600,000s.

One lucky buyer recently purchased a condo in Spire at 860 Peachtree St. for $449,000 that was originally listed at $515,000, according to sales records in the First Multiple Listing Service. Another buyer snagged a condo listed at $515,000 for $475,000 in Spire and the seller even threw in a large flat screen television as an incentive. "If you are not selling your condo at the right time, you will lose [money]. And you don't know that timing, or we'd all be making a killing," Motley said. If someone thinks they are going to come into Atlanta and buy a condo and sell it in a very short period and make a profit, this just doesn‘t happen in the Atlanta market.

So, what are buyers doing with their newfound power? They are demanding, and getting bargains and upgrades. Included are:
New kitchen cabinets
Granite countertops
Center kitchen islands
Backyard landscaping
New stainless steel and upgraded dishwashers, microwaves and refrigerators
Upgrades to commercial ovens
Built-in microwaves
Upgraded flooring, such as bamboo
Chances to win something, such as a car.

Roughly 40% of developers are saying yes to these cosmetic perks, and that’s double the number from six months earlier, according to a December NAHB survey of more than 500 homebuilders. “It works,” said McAllister. “Builders don’t want to have inventory standing, and they will do what it takes to move product. Buyers like perks because they feel like they’re getting a good deal.” New homeowner Wilson can attest to that. “I would have never even looked at the home without those incentives,” she said. “It was a blessing.”

Developers are more likely to offer incentives to move product if they have a back-up of inventory, or a home has fallen out of escrow, or if it is a sluggish time of the real estate cycle. “It’s a win-win. It’s an excellent way to move property and get buyers loyal to a certain builder.

So, be patient Buyers, be prepared for the longer haul with your condos, and get your great deal now!

Atlanta New Homes - why it's a great time to buy a new home

noreply@blogger.com (Brent Botes) — Fri, 09 Nov 2007 14:11:00 +0000

What a Deal!! It’s the perfect time to buy a new home in the Atlanta Real Estate Market. Because the decrease in the purchase of homes nationwide has led to an oversupply in new homes for sale, Builders in Atlanta have increased the use of sales incentives to move their products. You’ll find drastic reductions in sales prices, tens of thousands of dollars of buying incentives, and money back programs for new home buyers!

More good news!! The Atlanta Real Estate Market is the second-largest housing market in the nation, and home prices have enjoyed steady appreciation without the skyrocketing increases that have pushed other large markets toward a bubble. Atlanta has a good job market, four seasons and affordable housing. I just see it continuing, and Metro Atlanta home builders remain positive about the market too", said David Ellis, executive vice president of the Greater Atlanta Home Builders Association, which has nearly 3,500 members.

"What we are hearing from different folks is they are looking for moderation," he said. "The things we are already seeing -- job growth -- are predicted to continue in Atlanta. We might see some moderation, but you can't have record year after record year. We might not see those types of highs, but Atlanta's housing market has remained stable." Fortune predicts the Atlanta Real Estate Market will see about 4% growth in values for the next two years.

The Atlanta Housing Market is a diverse, thriving mecca for home builders, even in the midst of a worrisome national slump in home sales. New first-time home buyers arrive in the city every day, generating a big pool of potential new home sales. This and factors such as inexpensive land and affordable homes make the Atlanta housing market something of an anomaly. According to the Standard & Poor’s Case-Shiller national home price index, the annual decline in the 10 largest cities was the sharpest since 1991.

The Case-Shiller, a monthly publication by Standard & Poor, measures the residential housing market to track changes in values in 20 major metropolitan regions across the US. As of today, the 20 major metropolitan regions dropped an average of .4 percent in July from June, bringing it down a total of 3.9 percent from a year earlier. S&P said that comparing against 10 of the metropolitan areas there was a 4.5 percent drop since last year, which is the worst drop since July 1991. Tampa Florida and Detroit saw the worst price drop with declines over the past year at 8.8 percent or Tampa and 9.7 percent for Detroit. However, Atlanta, Charlotte, Portland, and Dallas were the only four on the list that saw price increases from last year.
So enjoy the steady increase of appreciation on homes and great home buyer incentives in the Atlanta Real Estate Market - there’s a deal out there for you!

Atlanta Real Estate - the future outlook

noreply@blogger.com (Brent Botes) — Fri, 09 Nov 2007 14:10:00 +0000

The Atlanta Real Estate Market is the second-largest housing market in the nation, and housing prices have enjoyed steady appreciation without the skyrocketing increases that have pushed other large markets toward a bubble.

Atlanta home buyers and commuters who have become tired of the long drives have sparked resurgence in downtown & mid-town developments close to transit when looking for Atlanta homes for sale; Included is the mixed-use development Atlantic Station, which has gained national attention as a true urban village with easy accessibility to jobs and cultural activities in downtown.
Fortune predicts the Atlanta Real Estate Market will see about 4% growth in values for the next two years.
In addition, Atlanta is home to several major corporations and the country's busiest airport. Atlanta now ranks third among cities with the highest concentration of Fortune 500 headquarters, following New York and Houston, sharing the number three spot with Chicago. GREAT NEWS!! The Metro Atlanta Chamber of Commerce has released its first-quarter new business report, which shows 30 companies are relocating or expanding new operations to metro Atlanta, including 11 new headquarters operations, to create nearly 400 new jobs.

Most people don't associate elite grads with Atlanta, but they should. According to Forbes Magazine, a ranking of eighth in our businesses measure and a high salary to cost of living ratio put Atlanta in the top three. Oh, and who can forget the year round exceptional weather and Southern Hospitality … Can you imagine living anywhere else?