Real Estate Market Update

Things are looking up in parts of Metro Atlanta’s real estate.  Whether you are selling or buying, you maybe  curious as to how things are selling in Metro Atlanta’s Sandy Springs area for different reasons of course.  As a buyer, you are interested in what type of deals you can buy while as a seller, you are hoping to see a turn around in the market so you can sell your home without taking too much of a loss.  Fortunately, I have good news for both.

“Is This A Good Real Estate Deal?”

In this real estate market, there seems to be no end to low-priced homes, whether foreclosures, REOs, short sales, owner financed, etc., but how do you know if it truly is a good deal?  I can see many purchasers salivating over the low prices in this real estate market but don’t pack up and move just yet.  Avoid getting caught in the hype of something being low-priced.  Here are several strategic factors beyond price to consider to help insure your real estate purchase will be a sound investment.

1. Location

Get Discounts At Your Favorite Restaurants

Ruth’s Chris Steakhouse.  Food 101.  Wildfire.  Even The Flying Biscuit.  What is going on at some of your favorite restaurants?  Well, this upcoming week (September 26 – October 2, 2010) is Restaurant Week!  Taking place in Metro Atlanta’s Sandy Springs/Perimeter/Dunwoody Area, some of Atlanta’s best restaurants are offering 2 and/or 3 course meals at discounted prices. 

The restaurants participating in Sandy Springs’ Restaurant Week are:

• Fleming’s Restaurant & Wine Bar
• Food 101
• FuegoMundo
• Ruth’s Chris
• Three Sheets
• Wildfire
• Bangkok Thyme
• Blue Grotto
• La Petite Maison
• Nancy G’s Cafe
• The Brickery

Places To Love: SERRANO CONDOMINIUMS

After much anticipation, Metro Atlanta’s Serrano condos have finally made their grand opening debut.  Deemed as Sandy Springs’ Mediterranean-inspired homes, the Serrano offers condo lovers 13 exquisite floorplans, gated, covered parking with private resident floor access, and amenities galore all at a discounted price.  Conveniently located in the heart of Sandy Springs, GA off Abernathy Rd. 1 block west of GA 400, the Serrano offers you convenience and quick access to Perimeter Mall, Buckhead, Downtown Atlanta, Alpharetta, I-285, GA 400, and I-75, which is a must in Atlanta’s heavy traffic.  (The key in Atlanta’s traffic is to learn the back roads, which from the Serrano you can get downtown, north, east or west without getting on a freeway – having been in Atlanta’s traffic, you know this is a miracle!)

Places To Love: THE VIEW AT CHASTAIN

Looking for a luxury high-rise community in Metro Atlanta with discounted prices just minutes from all the shops and restaurants of Buckhead?  Then The View at Chastain is a must see. 

Conveniently situated in Sandy Springs on Roswell Rd. near Piedmont, The View at Chastain condominium features upscale units at below construction costs.  These units feature both multi-level/townhouse-styled floorplans and apartment-style floorplans.  At The View at Chastain, you will love the trendy loft living, spacious 12-ft ceilings, sparkling hardwood floors, the stylish Quartz countertops, the efficient Bosch stainless steel appliances, the 24-hour onside management, the roomy clubroom, and the state of the art fitness area and swimming pool.  Best of all you will love the breath-taking views of Atlanta.

ALTERNATIVES TO THE TAX CREDIT: How to Get Up to $7500 For Buying a Home in One of These Georgia Counties

The Georgia Department of Community Affairs (DCA) has yet another new down payment assistance option to its Georgia Dream Homeownership Program to help revitalize and attract home buyers to the several counties affected by the 2009 Georgia floods.  The Georgia Dream Recovery Program offers down payment and closing cost assistance for all home buyers in the following Metro Atlanta counties: Carroll, Cherokee, Cobb, Dawson, Dekalb, Douglas, Fulton, Gwinnett, Heard, Newton, Paulding and Rockdale. For those desiring to purchase a home in these counties, the real estate qualifications to receiving the Recovery Program funds are that it maybe any home within one of these counties (it does not have to have been personally affected/damaged by the floods) with a purchase price of no more than $300,000.  The DCA’s recovery program is also available to counties in other parts of Georgia including: Catoosa, Chattooga, Crawford, Dooly, Houston, Peach, Stephens, Taylor and Walker.  For those desiring to purchase a home in these counties, the real estate qualifications to receiving the Recovery Program funds are that it maybe any home within one of these counties (it does not have to have been personally affected/damaged by the floods) with a purchase price of no more than $250,000.

Places To Love: THE PARK AT TROWBRIDGE

Looking for a  home with the quintessential “man-cave”?  Whether you desire a private movie theater, a spacious rec. room, or a personal fitness center, you will be impressed by the executive homes at the Park at Trowbridge. 

Above the man-cave layer, the Park at Trowbridge homes do not skip any of the frills you expect in the estates of Sandy Springs.  From the large master suites with double trey ceilings and sitting rooms, to the over-sized jetted tubs and frameless showers, to the stately hardwood floors and custom cabinetry, you will love these spacious homes.  You can find floorplans for both 4- and 5-bedroom brick homes with and without full basements, in case your taste do not require a man-cave.  Custom features very from home to home so this is a community worth seeing in person.  With the Park at Trowbridge being located near Roswell Rd and Dalrymple in Sandy Springs, GA, you are just minutes away from the Marta train, Perimeter Mall, GA 400 and I-285.

Flood Watch Areas in Metro Atlanta

Is your dream home in an area suspect to flooding? 

With the floods that Georgia experienced in 2009, you should rightfully be concerned about purchasing real estate in Metro Atlanta that could flood.  Or, maybe you already live in a home and you are not sure if your real estate is at risk. 

Knowledge is power so review this link on the areas that over the past 10 years are more susceptible to flooding in the Metro Atlanta area and proceed with caution!

Do you have further questions?  Feel free to contact places2love@gmail.com or 404.444.5777. Happy and SAFE house-hunting!

Savvy Real Estate Investments for 2010

Vacant residential lots are looking better and better to real estate investors.  Why? The cost of a finished, ready to build lot, can cost a developer about 25 percent of the finished home price. There are a number of these ready-to-go lots on the market at about half what they actually cost to prepare. Investor groups are snapping them up, figuring that the time will come soon when they will be in demand.

Seller Announces,”NO CLOSING COSTS”

Fannie Mae, the largest provider of residential home funding in the United States, announced Friday that it would pay the closing costs on purchases of foreclosed homes in its inventory.  The government-controlled company said buyers of qualified properties will get up to 3.5 percent in closing costs, or an equivalent amount for the purchase of new appliances.

The goal of Fannie is to clear out the nearly 50,000 properties it has in inventory— listed on www.HomePath.com, the Web site created by Fannie Mae last year to sell the growing number of foreclosed homes.  “Attracting qualified buyers to the market and reducing inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover,” said Terry Edwards, executive vice president for credit portfolio management, in a statement.

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