More TAD's & Affordable Housing on the Horizan Inside the Loop of Atlanta

The city of Atlanta is making a large push to make more homes available in an affordable price range that will allow civil servants as well as first-time buyers the opportunity to purchase a home inside the loop of 285 in Atlanta. Preliminary word is that 6 more TAD developments are being approved in the Lakewood area, which is undergoing a major overhaul & revitalization. These Tax Abatement Developments will allow people who meet the city's requirements to qualify to purchase homes for $145,ooo or $155,000 depending on the size of the property. There are single-family homes (3 or 4 bedrooms with 2.5 baths & a garage) going up in the area for between $250,000-$325,000 which through the TAD program would become available for only $155,000. More news to come. Don't hesitate to call or email me with any questions.

Brookhaven on a Budget = EAV / Oakhurst

After viewing a number of homes on Caravan yesterday in the Brookhaven area, all of which were respectable & quality construction, I began to evaluate their price point. Each property was listed between 600K-750K. There were Earthcraft construction, great master baths, open main level floor plans, etc. But I couldn't help but think that you could get a similar home for only 375K -475K in East Atlanta Village or Oakhurst. The largest difference is proximity to malls & private schools that many people in the Brookhaven area utilize. I just couldn't help but think that a number of people would be happy purchasing a similar physical product in another stable neighborhood for approximately 60% the cost. -- Food for thought

Should I Take My Home Off the Market During the Holidays?

When you look at your calendar you may find the months already overloaded with seasonal obligations -- shopping, entertaining, children's pageants, charity work, decorating the house, and so much more. If you are also trying to sell your home, you are under extra pressure to keep your home in "showtime" condition. And that could be the last thing you need before the holiday spirit is broken.

It is understandable why you would be tempted to take your home off the market during the holidays. And the list of justifications is long. If you are too busy, buyers may be also, and you may find your efforts unrewarded with not enough showings. And what if you do get an offer? You may be faced with the possibility of packing and moving during the busiest time of the year. Besides, you can give your house a rest, and it will have better momentum after the holidays. Better to just pack it in and start fresh in January, right?

But wait! Most top Realtors agree that taking your home off the market during the Christmas season is a mistake. The house surely isn't going to sell off the market! What is the advantage of that? So you're busy. Let your Realtor do the work. You can leave in the morning, go to work, go shopping, and let your Realtor take care of things.

The holidays are a wonderful selling period. Why? Because most people take off work sometime during the season. The husband and wife are both off and want to see houses. Most agents like the holidays because the buyers have more time, and they can look at homes together.

Before you take your home off the market, consider the following points:

Although buyer activity may appear to slow down, the buyers who are actively looking during the holidays are that much more serious. Agents believe the home market is no more affected at Christmas than during other "busy" periods. If that were so, the market would shut down throughout the year as families concentrate on spring weddings, June graduations, summer vacations, and autumn back-to-school activities.

Many buyers deliberately choose to shop for a home after the busy spring and summer rush. They know that it will be easier to look, and that negotiations will be less stressful. They may not have children, or they may have grown children, so moving to accommodate the school year isn't a consideration. Finding the right home at the right price, however, is.

Relocating families often don't have a choice when they can leave for their new destination. Although 68% of transferring families have children, many families have to transfer during the middle of the school year. These families are that much more motivated to get their families settled in before either the January semester begins, or to arrange for the move during spring break in March. If you sign a contract by New Year's Eve, the timing couldn't be more perfect.

At Christmas time, our culture focuses on family and the home. Preparing for the indoor activities of winter is one of the most enjoyable periods of family life. Allowing buyers to view your home during this most hospitable of seasons lets them better picture their own family life in the attractive environment you have created.

When is your home ever more beautiful and inviting? You have cleaned and decorated, and your home looks like a picture postcard. If the results are good enough for family and friends, they will surely be good enough to impress your buyers. Get the family team on board to do a five-minute blitz pick-up every morning to keep holiday messes to a minimum.

With reduced inventories and motivated buyers, you will have all the members of the MLS on your team. You may find you have more showings than you would if you marketed your home during a busier time of the year.

If you do get a contract, you can arrange the terms to suit your needs. If moving during the holidays isn't an option, you can put in the closing date of your choice. Most people can close 30 to 60 days after a contract is written, so there is plenty of time. Possession and closings are very negotiable.

Written by Blanche Evans

Memorial Drive Developments - Developer are flocking!

A new face for Memorial Drive
Condos, townhomes, lofts planned for stretch of intown thoroughfare

By PAUL DONSKY
The Atlanta Journal-Constitution
Published on: 11/23/07

Atlanta's Memorial Drive corridor seems an unlikely place to find one of the city's hottest real estate markets. The gritty thoroughfare begins near the site of a former public housing complex, runs by a cemetery and cuts through an industrial area packed with factories and auto repair shops.

RENEE' HANNANS HENRY/Staff

The Jane lofts at 437 Memorial Drive.

John Spink/Staff

The Oakland Park condo project, near Oakland Cemetery.

But now, at least 10 projects are being built or planned along a 1.5-mile stretch of Memorial just east of downtown, between Oakland Cemetery and Moreland Avenue.

The developments include condominiums with ground-level restaurants, townhomes, live-work lofts, and even a bar housed in a former railroad depot.

The corridor has much going for it, developers say. It's close to hip intown neighborhoods and is a quick drive to downtown and Midtown, making it attractive for people looking to shorten their commutes.

When Atlanta developer Fred Astaire scouted for a spot to build his next project, he pounced on a small parcel across from a truck leasing and maintenance facility in Cabbagetown.

"I like it because of all the industrial buildings that were around it," said Astaire, who is building a four-story residential and commercial complex called Cabbagetown Gateway. "I thought those would get bought out eventually. The potential for growth on this corridor is pretty big."

How hot is the area? Eric Gibson, manager of Blessing Tires at the corner of Memorial and Boulevard, said developers call about once a week offering to buy the property, which sits on about two-thirds of an acre. A national drug store chain recently offered $1 million, Gibson said, but the owner is holding out for a larger payday.

Developers are bullish on Memorial Drive despite the recent downturn in the metro Atlanta housing market and a glut of condos and townhomes for sale.

Intown neighborhoods remain hot, they say, noting that the city's population is growing by about 1,000 people a month. And buyers can get more for their money in emerging areas like Memorial Drive compared to Midtown and Buckhead. Housing prices of the new units range from the mid-$100,000s to the mid-$400,000s, with most around the $300,000 mark.

"Obviously right now, it's a challenging market," said Rick Schrager of Atlanta-based Perennial Properties, which is building Reynoldstown Village, a 38-unit residential complex with a swimming pool and corner commercial space on Memorial, next to a sprawling Leggett & Platt manufacturing plant.

But "there's no secret that Atlanta has one of the worst commutes in the country, and more and more people are deciding to move intown."

Old makes way for new

Slowly but surely, the old Memorial is getting pushed aside.

Lenny's, a working-class country bar near Oakland Cemetery adopted by urban hipsters, has moved to make way for construction of a five-story, 100-unit condo with ground-level retail.

An abandoned freight rail depot will soon become a bar and restaurant with an outdoor patio overlooking Atlanta's planned Beltline transit and trails loop. Next door, a vacant motorcycle parts warehouse is being converted to Triumph lofts, a condo complex that includes a roof-top deck, swimming pool and wine cellar.

The area has been in transition for a number of years, fueled by urban pioneers moving to Grant Park, Cabbagetown, Reynoldstown and other adjacent neighborhoods. Several popular, trendy restaurants have opened alongside a handful of small condo developments.

But several factors have helped accelerate the pace of change.

The city's housing authority demolished the Capitol Homes public housing complex that sprawled along Memorial near downtown, clearing the way for a mixed-income community. Meanwhile, a sweeping zoning change was approved by the city last year designed to foster a more pedestrian-friendly atmosphere along Memorial, in part by requiring wider sidewalks and allowing developments to have a mix of uses, such as condos with ground-level shops.

The public housing redevelopment "has been just a real sea change for Memorial," said James Brooks, an Atlanta developer who is building a five-story, 100-unit condo with ground-level retail on the former Lenny's site, in a partnership with Chicago-based The Habitat Co.

Some neighbors welcome the new development.

"I am a supporter of greater density in the city, close to transit, and close to downtown," said Natallie Keiser, director of operations for the Reynoldstown Revitalization Corp., a non-profit group that works to provide affordable housing options. "I think the transformation is positive."

But not everyone is so sanguine. Many Grant Park residents who live north of I-20 opposed the new zoning guidelines, arguing that the change allows too much density for an already busy road bordering their neighborhood.

The new zoning generally allows construction of up to six stories along Memorial. That's simply too tall, said Peggy Williams, who has lived in north Grant Park since 1994.

"We love having the restaurants to walk to, we love having the shops, we love having the people on Memorial Drive," she said. "But it should just be more to scale."

And the development wave may be only beginning.

Several large properties are for sale, including a large auto parts warehouse in Reynoldstown.

The developers of Oakland Park, a five-story condo across the street from Oakland Cemetery, have an option to buy an adjacent parcel that contains a check cashing store and budget-priced Mexican restaurant. The developers have already purchased a former dry ice warehouse near the cemetery for a future project.

Perhaps the most significant looming change involves the sprawling 9.5-acre Atlanta Dairy plant east of Boulevard, which has recently been put up for sale. A neighborhood fixture for decades, the company plans to build a more efficient plant elsewhere in the metro area, said the plant's general manager, Ted Young. Young said the property is worth more than $1 million an acre.

Only a matter of time

To gauge the level of change sweeping the neighborhood, look no further than Mammy's Kitchen, a modest breakfast and lunch spot founded 60 years ago in Reynoldstown to serve workers at surrounding factories and warehouses.

Regulars still slip into red vinyl booths and read the paper over eggs, coffee and bacon. But a new world is cropping up outside the diner's formica tables and bright fluorescent lights.

On a nearby corner, a homeless mission has been torn down to make way for the Reynoldstown Village project. Across the street, developers have purchased a small parcel for a townhome and retail complex. Down the road, past an auto body shop, is a hip townhome development featuring units made of brightly colored metal siding.

On a recent weekday, Theresa Stangline manned the cash register at the restaurant she and her husband bought in the mid-1970s. Stangline, a slender, energetic woman with short blond hair, is retired but commutes from her home in Dunwoody once a week to work for her son, who now runs the place.

She said she felt it was only a matter of time before residential development came to the area.

"It's not a surprise to me, because where I live the traffic is astronomical," she said. "People want to live closer to downtown, where they don't have to get in the traffic."

She declined to say if developers had offered to buy the restaurant. When asked about Mammy's future, she chose her words carefully.

"Right now, just right now, as of today, we're staying put," she said.

That means co-existing with a flood of new neighbors like Adam Pruett and Michael Allgood, who recently purchased a two-bedroom condo at the nearby Triumph lofts for $340,000.

Pruett, a 28-year-old medical resident at Emory University, said he and his partner initially wanted to buy in Midtown, which they like because of its bustling, urban vibe.

But they realized they could afford a much larger place on Memorial. The location worked — it's a close drive to the hospitals where Pruett is training, and they liked how the condo building is on the Beltline and near Glenwood Park, a high-end residential and retail complex just over I-20.

They feel they're lucky to be getting in to the Memorial corridor just as it's about to take off.

"It's nice we were able to get something of this size and value, and hopefully we'll see that [value] grow as the area develops," Pruett said.

Atlanta Condo's at a HUGE DISCOUNT - TAD Program

Here are 2 more developments offering amazing discounts to qualified buyers - 144k for 1 bed/1bath and 155k for 2 bed/2bath. Contact me with any and all questions

The Reynolds

The Reynolds is an architecturally inspiring building offering a boutique condominium environment. It traditional architecture provides a genuine alternative to other properties in the area, with fewer and larger units and a greater percentage of two-bedroom residences. Homes at The Reynolds are perfectly located within the in-town So-No district, south of North Avenue. Situated in the corner of Peachtree and Linden, The Reynolds offers access to countless restaurants, shops and cultural attractions, within footsteps rather than miles.

The Edge Lofts

Edge Lofts is a mixed-use development located on Edgewood Ave the historic Martin Luther King Jr. District. This development include 36 condominium units, 13,000 square feet of street-level retail space and a 538-space parking garage. Edgewood Ave historically been known for a contemporary, bustling lifestyle Edge Lofts will live up to this reputation. Come experience "Life on the Edge"!

2 More Developments to choose from with TAD discount housing available

Tribute Lofts

Coming Soon! Tribute Lofts located at the junction of Freedom Parkway and Boulevard, will offer true loft living in the heart of the city's historic Old Fourth Ward. Homeowners will enjoy high-design and high-quality homes all within an easy walk or bicycle ride to Inman Park, Virginia Highlands, Little Five Points, Midtown and Downtown. To register on our priority buyers list go to www.tributelofts.com

The Reynolds

The Reynolds is an architecturally inspiring building offering a boutique condominium environment. It traditional architecture provides a genuine alternative to other properties in the area, with fewer and larger units and a greater percentage of two-bedroom residences. Homes at The Reynolds are perfectly located within the in-town So-No district, south of North Avenue. Situated in the corner of Peachtree and Linden, The Reynolds offers access to countless restaurants, shops and cultural attractions, within footsteps rather than miles.

Check out www.reynoldsonpeachtree.com

DISCOUNT ON ATLANTA CONDO's/LOFTS with the Tax Abatement Program - TAD

I can use the TAD program to help buyers purchase new units in some of Atlanta's most exciting projects at affordable mortgages. The TAD program works by helping people with good credit and a household income under 60k afford to buy property previously out of reach. This is a great program for civil servants. There are 1 bedroom/ 1 bath for $144,000 and 2 bedroom/2 bath for $155,000 compared to Development List Prices of $250,000 - $299,000.

One example of a TAD Development is Twelve Centennial Park. Click on the development name to get more info on this outstanding downtown development.

Possible Loft Condo Considerations

Here are some developments that are worth considering in the Atlanta Condo/Loft Market.

Click on each development's name for further info on the development.

Spire

Buckhead Grand

TWELVE Atlantic Station

Metropolis

Centennial Park West

Cosmopolitan at Lindbergh

Realm

The Plaza Midtown

Best Atlanta Lofts?

I would like to know what you, the consumer, feel are the best Atlanta Lofts and why. Share your thoughts and let everyone know exactly what makes these lofts so spectacular. Is it the price, location, features, amenities, view, or a combination of items?

Let your voice be heard.

Inman Park Village

There are still homes available on Lake Avenue as part of the new Inman Park Village development. They have unique interior designs, some more quirky than others in terms of flow. The price point leaves a little to be desired, but that is the trade off for new construction compared to some of the older homes that have undergone renovations and are on the market at a lower price point. The location is outstanding with the wonderful convenience of Little Five Points around the corner, the Edgewood Shopping Center, as well as the historical significance of the King Center only a short distance away. Happy House Hunting.

Rosedale in VaHi

Some of the finest architecture in the city is displayed within the walls of a very unique home/hybrid design on Rosedale. The owners are architects who left no stone unturned and created an amazing experience. The only downside is that for the "unit" or "floor" you are paying what could get you a much larger home - although it would be nearly impossible to compete with all of the amazing touches they've put in. Rosedale in general has the benefits of the great feeder school system and is more bang for your buck than Morningside, with the convenience of the VaHi shops in close proximity. Happy House hunting!

Midtown Condo Info - Aqua

Aqua has it's pros & cons like everything in life. If you like privacy, then you'll love the elevators that open directly to your condo - no unfriendly run-ins with the neighbors down the hall. It is located right below 10th street between Spring and West Peachtree. It's only seconds from a variety of Midtown spots depending on your interests. You're walking distance to Cosmo, the Cheetah, Wetbar, Globe, Cherry. You're only a block or two from every day necessities like Publix, LA Fitness, Barnes & Noble, and the Georgia Tech Campus. On the other hand, the units are in need of upgrades that should be considered standard at the price point the builder is targeting. Light fixtures, hardwood flooring throughout or at least a much higher quality of carpeting in the bedrooms. Happy hunting.

Grant Park

It's still possible to get cute 3/2's in the Grant Park area under 300K. There are a number of homes I've previewed - both single story & 2 story properties that are great buys, especially for the Grant Park area - just off of Confederate, between Boulevard and Moreland heading towards Ormewood. Happy House hunting!

Poncey-Highlands and Grant Park

There are a number of condo units, varying from quaint renovations to modern lofts ranging from 100K to 500K with wonderful city skyline views in the Poncey-Highlands area.

Grant Park still has deals to be found. There are reasonably priced homes built within the last 10 years with for under 350K.

There are still a few flips being done. I drove by a handful just off boulevard and confederate that would allow you to have input into the home of your dreams while it's still under construction.

Caravan Tuesday 9/11 - Condo's

Visited a number of different units at Metropolis. While having great floor to ceiling windows on 2 sides of the units, the units them small were quite small - with limited space to host any type of social gathering within the units. The location was attractive - at the heart of midtown, with a number of great restaurants and night spots within walking distance. With the Spire in close proximity and Viewpoint scheduled to open for occupancy in Summer/Fall of '08 - the Metropolis has a difficult time competing for the picky condo hunter.

Putting a Face with a Name of the Realtor who's here to service your real estate needs

You can visit my website at www.MichaelNeville.net.

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