Intown Atlanta Real Estate BlogRecently posted or modified blog postshttps://www.intownelite.com/blog/Copyright IntownElite.com2020-04-13T20:33:16-07:00tag:intownelite.com,2012-09-20:1254School ratings on IntownElite.comFinding objective information about the quality of public schools is not always easy. There are a number of independent websites which rate public schools, but they often give contradictory information. So to get a full picture, you end up having to visit multiple school review sites to determine a consensus of the ratings they provide for each school. Isn't there an easier way? There is now!
On our <a href="https://www.intownelite.com/atlanta-public-schools/">Atlanta School Guide</a> page, we have consolidated the ratings for each public school in our market area from three different independant rating sites, GreatSchools, Niche K-12, and SchoolDigger. Each school page also shows all the homes for sale in the attendance zone for that school. Below is an explanation of each of these ratings, as explained by their respective providers.
Overall Niche Grade
<img src="https://assets.site-static.com/userfiles/559/image/schoolratings/Aplus.png" width="100" height="100" alt="Niche Grade" title="Niche Grade" class="img_box_left" style="float: left; margin: 15px;" />Grades are assigned based on how each school or district performs compared to all other schools included in the ranking by using the following distribution of grades and z-scores. While most rankings generally follow this normal distribution, there are slight variances across each ranking, so the actual counts and distribution may vary. <a href="https://k12.niche.com/rankings/methodology/" target="_blank">Learn more</a>.
GreatSchools Rating
<img src="https://assets.site-static.com/userfiles/559/image/schoolratings/10.png" width="100" height="100" alt="GreatSchools rating" title="GreatSchools rating" class="img_box_left" style="float: left; margin: 15px;" />The GreatSchools Rating is a simple tool that helps you compare schools based on test scores and other available data, including student academic growth and college readiness. GreatSchools is always working to improve the rating and add more information when state education agencies make school quality data publically available. The GreatSchools Rating is on a 1-10 scale, where 10 is the highest and 1 is the lowest. Ratings are broken down into three categories: ratings 1-3 signal that the school is “below average,” 4-7 indicate “average,” and 8-10 are “above average.” Ratings for these categories are shown in red, yellow and green (respectively) to help you see the distinctions. <a href="http://www.greatschools.org/about/ratings.page" target="_blank">Learn more</a>.
SchoolDigger Rating
<img src="https://assets.site-static.com/userfiles/559/image/schoolratings/stars-5.png" width="150" height="37" alt="SchoolDigger rating" title="SchoolDigger rating" class="img_box_left" style="float: left; margin-left: 15px; margin-right: 15px;" />SchoolDigger doesn't go into much detail to reveal how they rate schools, other than to say, "Schools, districts, and cities in the top 10% of the ranking list get five stars." Then they break down the remaining star ratings in the following manner:
90-100% - 5 Stars<br />70-90% - 4 Stars<br />50-70% - 3 Stars<br />30-50% - 2 Stars<br />10-30% - 1 Star<br />0-10% - 0 Stars
<a href="http://www.schooldigger.com/aboutranking.aspx" target="_blank">Learn more</a>.
We hope you'll agree that our <a href="https://www.intownelite.com/atlanta-public-schools/">Atlanta School Guide</a> makes it easier to find the best school and home for the student(s) in your family. If you need help with your home search, feel free to <a href="https://www.intownelite.com/contact/">contact us</a>.2016-05-18T20:51:00-07:002016-09-18T14:44:55-07:00Intown Elitetag:intownelite.com,2012-09-20:1251Even Atlanta's most exclusive zip code, 30327, has affordable optionsA <a href="http://atlanta.curbed.com/archives/2015/12/29/inside-the-most-expensive-exclusive-zip-code-of-atlanta.php" target="_blank">recent article</a> in Curbed describes describes <a href="https://www.intownelite.com/atlanta-zip-codes/zip-code-30327-atlanta-real-estate/">30327</a> as "the Most Expensive, Exclusive Zip Code of Atlanta." The story includes the typical descriptions, "Beverly Hills of the South," "Georgia's most expensive zip code" and factoids such as it being the second wealthiest zip code in the South behind Palm Beach's 33480.
Yes, it's true when Forbes reports the median home price in 30327 is about 1.5M, but is it really "exclusive?"
Exclusive adjective
excluding or not admitting other things
restricted to the person group or area concerned
catering or available to only a few, select people; high class and expensive
<a href="https://www.intownelite.com/atlanta-zip-codes/zip-code-30327-atlanta-real-estate/"><img class="img_box_right" src="https://assets.site-static.com/userfiles/559/image/30327.png" alt="30327" width="480" height="320" /></a> The truth is, unlike other other high-priced areas around the country; 30327 actually has affordable housing options, too. For example, right now there are 2-bedroom, 2-bath condos listed for sale from $135,000. So, for a very reasonable price, one can live in the same "exclusive" zip code as multi-millionaires, and have access to the same highly sought-after <a href="https://www.intownelite.com/atlanta-public-schools/">public schools</a> in <a href="https://www.intownelite.com/buckhead-real-estate/">Buckhead</a>. Many of these affordable condos are in <a href="https://www.intownelite.com/buckhead-real-estate/cross-creek-homes-for-sale-atlanta-ga/">Cross Creek</a>, which is a gated community complete with with an 18-hole golf course, three swimming pools and tennis courts. It also has a clubhouse with a health club, restaurant and lounge with both indoor and covered outdoor deck seating, which overlooks the pond and golf course. Not bad for $135k! Follow this link to search all <a href="https://www.intownelite.com/atlanta-zip-codes/zip-code-30327-atlanta-real-estate/">homes in zip code 30327</a>.2016-02-02T15:08:00-07:002016-07-21T21:18:49-07:00Intown Elitetag:intownelite.com,2012-09-20:1250Reduce your Atlanta commute, improve your lifeAs if you needed another reason to move from the 'burbs to Intown Atlanta, you can add to the list growing evidence that your commute is killing you. If you live in the suburbs of Atlanta and work in the city, you know how miserable the commute can be. But are you fully aware of the very real effects of that commute on your overall health and happiness? Long commutes can contribute to obesity, neck pain, stress, insomnia, even loneliness and divorce. If you don't have time to read the <a href="http://www.slate.com/articles/business/moneybox/2011/05/your_commute_is_killing_you.html" target="_blank">full article</a>, this infographic sums it up nicely:
<img class="img_box_center" src="https://assets.site-static.com/userfiles/559/image/commute-589x1024.png" alt="commute" width="589" height="1024" /> For more interesting reading, visit the <a href="https://medium.com/the-ferenstein-wire/how-silicon-valley-made-big-city-housing-the-cause-of-and-solution-to-inequality-6675f68b5b2f#.dpbebwd1p" target="_blank">source of the infographic</a>, which discusses how some government housing policies can be a major contributor to wealth inequality.2015-12-11T08:19:00-07:002016-07-21T21:18:59-07:00Intown Elitetag:intownelite.com,2012-09-20:1245Atlanta a top market to invest in residential real estate<img class="img_box_left" src="https://assets.site-static.com/userfiles/559/image/25156_1441975927519_1176705231_31323721_8270353_n-300x200.jpg" alt="Photo Courtesy of Laura Miller" width="300" height="200" /> Photo Courtesy of Laura Miller A <a href="http://www.bizjournals.com/atlanta/morning_call/2013/12/atlanta-no-5-on-list-of-top-markets.html" target="_blank">recent report</a> shows Atlanta to be one of the top markets in the country to invest in a home. Ingo Winzer, president and founder of Local Market Monitor, said in a statement released by the company, "These markets also have strong home price appreciation, but are still underpriced by as much as 28 percent." Of course, if you're looking in highly-sought-after <a href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta neighborhoods</a> or <a href="https://www.intownelite.com/buckhead-real-estate/">Buckhead</a>, you may have a more difficult time finding a deal. These areas have already rebounded in price due to strong demand. By contrast, some of the suburbs are still playing catch up, but the trend is positive.2015-11-30T07:08:00-07:002016-07-21T20:58:27-07:00Intown Elitetag:intownelite.com,2012-09-20:1249Atlanta real estate Sold pricesWhat price did that listing end up selling for? Now you can find out on IntownElite.com
Ever wonder what that house down the street sold for? You know what the list (asking) price was when it went under contract, but what was the final sale number? Previously, our local MLSs, who provide the listings on our site, wouldn't allow agents or brokers to display sold listings or their prices. There were some national portal sites which would show sold prices, but they got their data from public records, which were several months behind, and had some issues with accuracy.
That all changed with a recent decision by the National Association of REALTORs®. NAR changed their IDX policy to recommend that MLS's make sold listings and their prices available for agents and brokers to display on their websites. (IDX, or Internet Data eXchange, is the system by which agents and brokers share their listings on each others websites.) Although neither of our local MLSs are governed by the NAR, they both have decided to allow sold listings to be displayed on our websites for properties that have sold within the last 3 years. GAMLS was the first to go forward with this, and their sold listings can already be seen on our site. FMLS followed along later, and those sold listings should be available shortly.
<img src="https://assets.site-static.com/userfiles/559/image/Sold_Data.png" width="574" height="116" style="float: left;" />
Since our data comes directly from the MLS you can be assured that it will be both timely and accurate. MLS rules require agents update the system within 3 days of closing, so the sale price will be available on our site quickly, sometimes even the day of closing. Also, all of the listing photos remain available, so you can get an idea of the condition of the property. This is <a href="https://www.intownelite.com/why-intown-elite-dot-com-beats-zillow-trulia/">yet another reason</a> why our site is superiorto the national portals, which typically don't have photos of sold properties. On any <a href="https://www.intownelite.com/atlanta-homes/results/">search result page</a> on our website, at the bottom of the search criteria on the left sidebar, you can see the option to Include Sold Data. Viewing the sold price of comparable homes in your neighborhood is a great way to get an idea of what your home may be worth, so check it out!
Here are the most recent sales in Atlanta:2015-06-01T19:34:00-07:002016-07-21T21:19:34-07:00Intown Elitetag:intownelite.com,2012-09-20:1248Our site now includes GAMLS listings, in addition to FMLSYou probably know t<img class="img_box_right" src="https://assets.site-static.com/userfiles/559/image/GAMLS.jpg" alt="GAMLS" width="327" height="154" />hat an MLS (Multiple Listing Service) is a system that agents use to market their listings to other agents. Through something called IDX (Internet Data eXchange), agents can display all of the homes listed in the MLS on our websites, so you as a homebuyer can participate in your own home search. You may or may not be aware, but we have two MLS's in the metro Atlanta area, First Multiple Listing Service (FMLS) and Georgia Multiple Listing Service (GAMLS). Most <a title="Intown Neighborhood Guide Map" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta</a> agents use FMLS as our primary MLS. Everything in our geographical market niche is in the FMLS "mandatory" area, meaning agents who list properties in Intown Atlanta are supposed to enter their listings into FMLS. So, our website has always pulled listings from FMLS, since that should capture all of the homes and condos listed for sale in Intown Atlanta. But sometimes I see Intown Atlanta homes listed in GAMLS and not FMLS. In theory, that shouldn't happen, but in reality, sometimes it does. Often it's when agent from the south suburbs (where GAMLS is more prominent) comes into Atlanta and lists a property. It's also common with REO (bank-owned foreclosures), and either their agents don't know this is an FMLS mandatory area, or they're actually not members of FMLS.
Either way, we want IntownElite.com to be your go-to site for Intown Atlanta real estate, so we need to make sure our site has all of the listings. So, we added GAMLS to our IDX feed, meaning we have all listings from both local MLS systems, so you don't miss any listings. It's one of the things that makes IntownElite.com better than the <a title="Why IntownElite.com beats Zillow, Trulia, et. al." href="https://www.intownelite.com/blog/why-intownelitecom-beats-zillow-trulia-et-al/">big national websites</a>. This also paves the way for something more in the very-near future: sold listings. Some of the most valuable information for both home buyers and sellers is the sale price of recently-sold homes in their area of interest. Previously, we weren't allowed to display sold data from the most accurate source, the MLS. There are some sites which show sold prices based on tax records but they are very slow to update, often several months behind. But with a recent policy change, some MLS's have decided to now allow the display of sold listings along with their sale price. FMLS has told me they don't have plans to make sold data available, but GAMLS said they will, later this year. So, adding GAMLS to our site means we'll be ready to show sold listings on our site as soon as GAMLS makes them available. Stay tuned for more on that soon!2015-01-23T00:28:00-07:002016-07-21T21:21:07-07:00Intown Elitetag:intownelite.com,2012-09-20:1246Why IntownElite.com beats Zillow, Trulia, et. al.When it comes to websites, bigger does not always mean better. That's certainly the case with real estate websites. I think most would agree that, aside for ease-of use, the most important aspect of real estate websites is the accuracy of its data. You want to see all the listings available for sale, and no "stale" listings that are no longer on the market. Nothing is more frustrating to a home buyer than either missing out on available listings, or finding out that awesome listing you're looking at actually sold 2 months ago. Unfortunately, those scenarios are all too common on Zillow, Trulia and similar sites. Meanwhile our website does not suffer the same problems, as I'll explain below.
First I'll explain the classification of real estate websites. Zillow, Trulia and similar sites are considered "aggregators" or "portals." They get their listings via an amalgam of sources, including various listing syndication services, manual entry by agents or home owners. Not every agent sends their listings to them, and there is no regulatory authority presiding over them to ensure timeliness or accuracy. By contrast, IntownElite.com is a brokerage site. As a licensed real estate brokerage, we are members of the local MLS service. As such, we get a direct feed of listings from the MLS, including listings of all other local brokerages (not just our own listings), through an arrangement called IDX, or Internet Data Exchange. This listing feed is updated in nearly real-time, at least every 15 minutes. So, when a new listing goes active in the MLS, it's on our site within minutes. Similarly, when a listing is marked "Contingent" or "Pending" (meaning under contract) or "Sold" in the MLS, that listing is indicated thusly on our website within minutes. And finally, when the listing expires, it is removed from our website within minutes. <img class="img_box_left" src="https://assets.site-static.com/userfiles/559/image/pending_listing.png" alt="pending" width="300" height="260" style="float: left;" /> The status of listings on our website is updated in a timely manner per MLS and GREC regulations, unlike Zillow and Trulia. Two regulatory authorities make sure this happens. First, the MLS requires the listing agent to mark status changes of their listings in a timely manner. Failure to do so results in a fine. Secondly, the Georgia Real Estate Commission regulates the advertisement of properties, including internet advertising. They, too, will not allow the advertising of a property for sale after it's no longer the market. Failure to comply with GREC rules could lead to even greater consequences for an agent or broker, including fines, license suspension or even revocation. All agents and brokers in the state are subject to GREC rules. Zillow, Trulia, et. al., are not. For these and other reasons, brokerage sites like IntownElite.com have more timely and accurate information than the portal sites. But don't take our word for it. A study by real estate industry consultants Wav Group entitled <a href="http://waves.wavgroup.com/wp-content/uploads/2012/10/The-Accuracy-of-Real-Estate-Websites.pdf" target="_blank">The Accuracy of Real Estate Websites</a> analyzed listings in 11 metro areas, comparing "portal" sites like Zillow and Trulia to websites owned by local brokerages. Here is what the study found:
The results of this analysis are that the local brokerage sites are considerably more complete, more accurate, and timelier than the national portals. In each U.S. city or area, all real estate brokerages contribute and share listing data. Only real estate brokers can be members of a local MLS. In contrast, national portals, such as Zillow and Trulia, mostly rely on individual agents and real estate brokerages to re-post their listings on the portal websites, or the portals aggregate data from syndicators of real estate information. Brokerage Sites Show 100% of the Agent-Listed Homes for Sale Each of the local real estate brokerage websites analyzed contained 100% of the homes listed for sale in the MLS. Portal sites contained just 79% to 81% of these listings—a fifth of the homes for sale did not appear on portal sites
In some metro markets, the portals had only 63 - 65% of the active listings, compared to 100% on the brokerage sites. More from the study:
Brokerage Sites Show Newly-Listed Homes 7 to 9 Days Faster Local brokerage sites get home listings from direct feeds provided by the local MLS. In most cases these feeds are updated every 15 to 30 minutes, which allows homes to appear on local brokerage sites as soon as they are listed by an agent. Portal sites obtain their listings from a variety of sources: individual brokerage feeds, third-party listing aggregators, and direct entry by agents. The median delay between when a home was listed on the MLS and when it appeared on the portal sites was nine days for Trulia and seven days for Zillow.
Brokerage Sites Correctly Remove Homes No Longer for Sale Since local brokerages update the data on their sites with new information from the MLS as often as every 15 minutes, when a home buyer searches a local brokerage site, there are little to no results that are outdated and no longer for sale. On portal sites, over a third of the results are not really for sale.
That's right, the study found that on Zillow and Trulia, over a third (36%, to be precise) of the properties listed for sale are actually not! So lets tally it up:
Zillow, Trulia, et. al.
A fifth of "for sale" listings missing
New listings not displayed for 7 to 9 days later
Over a third of the listings are no longer for sale
IntownElite.com
100% of homes listed for sale in the MLS*
New listings displayed within minutes.
Off-market listings removed rapidly
<address>*It is possible for a seller to opt-out of internet advertising altogether, however if they did, they wouldn't be on Zillow or Trulia, either. In reality very few sellers in the MLS opt-out of internet advertising. Would you?</address>
So, when you take all of that into account, along with their <a title="Zestimates" href="https://www.intownelite.com/blog/online-home-valuations-are-they-any-good/">notoriously inaccurate home value estimations,</a> when shopping for homes for sale in Atlanta there's really no reason to look anywhere other than <a title="Intown Atlanta Real Estate" href="https://www.intownelite.com/">IntownElite.com</a>. 2014-10-24T16:54:00-07:002016-07-21T21:34:41-07:00Intown Elitetag:intownelite.com,2012-09-20:1247Another report praises Atlanta's walkable urban development<img class="img_box_center" src="https://assets.site-static.com/userfiles/559/image/4433072499_91f8d5104c_z.jpg" alt="Atlanta" width="640" height="425" title="Atlanta" /> Midtown, one of Atlanta's most walkable neighborhoods. As we reported in a <a href="https://www.intownelite.com/blog/intown-trend-spells-the-end-of-sprawl-in-atlanta/">previous blog post</a>, Atlanta is getting a lot of attention lately for the rising amount of "walkable urban development" that's underway in the city. Now, another report from the George Washington University School of Business ranks Atlanta number 8 in the nation in this category currently, with a projected future rank of #5. We think the report validates what we've been saying for years, that <a title="Intown Atlanta neighborhood guide map" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta real estate</a> is a better bet than suburban real estate. The report states,
...the residential housing market has already shifted; the highest-priced zip codes are the close-in neighborhoods directly adjacent to downtown, many of which were low-income areas 20 years ago. It used to be that the up-and-coming neighborhoods were located outside Interstate 285, also known as the Perimeter; today these neighborhoods are located inside the Perimeter.
To read the full report <a href="http://www.smartgrowthamerica.org/documents/foot-traffic-ahead.pdf" target="_blank">click here</a>.
Photo credit downeym on Flickr. CC license.
2014-08-31T23:28:00-07:002016-07-22T20:57:22-07:00Intown Elitetag:intownelite.com,2012-09-20:1244Intown trend spells the end of sprawl in AtlantaCould it be that, along with the increasingly popular trend of living "intown," now sprawl in Atlanta has ended? That's the conclusion of a <a href="http://business.gwu.edu/walkup/atlanta2013/">report</a> from the School of Business at George Washington University. Report author Christopher Leinberger, a professor of urban real estate and chair of the Center for Real Estate and Urban Analysis at George Washington University told <a href="http://www.usatoday.com/story/news/nation/2013/10/03/atlanta-sprawl-development/2915631/">USA Today</a>, "Atlanta has reached peak sprawl. This is the end of that trend."
Walkable intown communities are preferred by young professionals and by high-tech businesses over automobile-dependent suburban neighborhoods. As we've mentioned previously, neighborhoods near downtown Atlanta have seen a <a href="http://www.ajc.com/news/news/local/young-professionals-lead-surge-of-intown-living/nQsXF/" target="_blank">61 percent surge in young professional residents</a> who have at least a four-year degree since 2000. These kind of communities, which comprise less than 1% of the Atlanta region's land area, accounted for 60% of the growth in income-generating real estate (offices, retail spaces, rental apartments and hotels) over the past four years, Leinberger said. This trend has steadily and rapidly increased in each of the last three real estate market cycles. Further, real estate products in established walkable intown communities command rents that are 112% higher than those in drivable suburban areas.
Of course, this doesn't mean that all of the sprawl that has occurred over the last several decades will somehow magically vanish. A drive from Lake Lanier to the airport during a Friday-500 rush-hour will remain an experience you'll want to avoid at all costs, if you wish to retain your sanity. So that won't change, but as Leinberger says, "The pendulum is now swinging in the other direction." He continues, “Despite Atlanta’s reputation as a sprawling, auto-oriented region, the metropolitan area has already begun adjusting to the walkable urban trend on the ground in a surprisingly rapid manner.”
<br />
The Walkable Urban Structural Shift
The report makes the following points:
There is a game-changing structural shift underway in real estate.
New research reveals how walkable urban places and projects will drive tomorrow’s real estate industry and the economy.
Different public policy and real estate strategies are needed to take advantage of these market trends.
What was perceived as a niche market has become the market.
"Starting in the mid-1990s, walkable urbanism has become the dominant development pattern in Atlanta—and many other metropolitan areas in the country. Going forward, walkable urbanism is the driving force in real estate."
<br />
The report coins the term "WalkUPs," for "Walkable Urban Places". It states that there are seven types of regionally significant WalkUPs in any metropolitan area, and Metro Atlanta has at least one example of each.
<a title="Downtown Atlanta Condos and Lofts For Sale" href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/downtown-atlanta-condos/">Downtown</a>
Downtown Adjacent - Examples: <a title="Castleberry Hill Lofts For Sale, Atlanta GA" href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/castleberry-hill-lofts-for-sale/">Castleberry Hill</a>, Centennial Olympic Park, <a title="Midtown Atlanta Condos and Homes For Sale" href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/midtown-atlanta-homes-for-sale/">Midtown</a>, <a title="SoNo / O4W" href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/old-fourth-ward-homes-for-sale/">SoNo</a>, Sweet Auburn
Urban Commercial - Examples: Arts Center, <a title="Buckhead Neighborhood Guide Map" href="https://www.intownelite.com/neighborhoods/buckhead-real-estate/">Buckhead</a> Village, <a title="Inman Park Homes For Sale, Atlanta GA" href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/inman-park-homes-for-sale/">Inman Park</a> , <a title="Poncey-Highland Homes For Sale, Atlanta GA" href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/poncey-highland-homes-for-sale/">Ponce</a>, Upper Westside, West End
Urban University - Examples: Atlanta University Center, <a title="Home for sale near Emory / CDC" href="https://www.intownelite.com/idx/280897-homes-for-sale-near-emory-university-cdc-atlanta/">Emory</a>, Georgia Tech
Suburban Town Center - Example: Downtown <a title="Decatur GA Homes For Sale" href="https://www.intownelite.com/neighborhoods/decatur-ga-homes-for-sale/">Decatur</a>
Drivable Sub-Urban Commercial Redevelopment - Examples: <a title="Buckhead Neighborhood Guide Map" href="https://www.intownelite.com/neighborhoods/buckhead-real-estate/">Buckhead</a>, <a title="Buckhead Forest / Buckhead Triangle" href="https://www.intownelite.com/neighborhoods/buckhead-real-estate/buckhead-forest-homes-for-sale/">Buckhead Triangle</a>, Lindbergh, <a title="Sandy Springs homes for sale" href="https://www.intownelite.com/idx/city/sandy-springs/">Sandy Springs</a>, South Buckhead
Greenfield & Brownfield - Example: <a title="Atlantic Station Condos, Lofts, and Townhomes For Sale" href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/atlantic-station-condos-for-sale/">Atlantic Station</a>
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IntownElite.com helps you find a walkable home<img src="https://assets.site-static.com/userfiles/559/image/WalkScore_map.png" width="400" height="307" alt="WalkScore Map" title="WalkScore Map" style="color: #2d2d2d; font-family: Arial, Helvetica, sans-serif; font-size: 12px; float: left; margin-left: 15px; margin-right: 15px;" />
We believe factors outlined in this report underscore the benefits of investing in real estate inside the perimeter of Atlanta. Couple that with the fact that Atlanta remains the top destination for movers, and you've got If you're looking to take advantage of this trend and buy a home in a walkable intown community, you've come to the right place. Each listing includes a WalkScore map showing how walkable the home and nearby ameneties. Check out these powerful home search features today, and <a href="https://www.intownelite.com/contact/" title="CONTACT US">let us know</a> if you need any help!2014-05-15T15:30:00-07:002016-07-22T21:08:42-07:00Intown Elitetag:intownelite.com,2012-09-20:1243In real estate, experience mattersHow much does experience matter when selling your home? According to a recent <a title="The Price of Real-Estate Experience" href="http://online.wsj.com/news/articles/SB10001424127887324123004579057500395585922" target="_blank">article in the Wall Street Journal</a>, about 12% of the price of your home. In other words, experienced agents sell homes for an average of 12% more than rookie agents. The figure is based on a study by Bennie Waller, professor of finance and real estate at Longwood University in Farmville, Va. A "rookie" was defined as an agent with less than 2 years experience. From the article: <a href="https://assets.site-static.com/userfiles/559/image/HomeValues.jpg"><img class="img_box_right" alt="HomeValues" src="https://assets.site-static.com/userfiles/559/image/HomeValues-300x225.jpg" width="300" height="225" /></a>"The more experience you have, the more likely you are to sell the properties that you list, the more likely you are to sell it at a higher price and the less time it stays on the market," Prof. Waller says. Prof. Waller became interested in quantifying experience when he noticed an increasing number of agents who chose not to renew their licenses after two years. Real estate has "very, very, very low barriers to entry," he says. But brokers then face a steep learning curve and many struggle to reach a level of expertise that is profitable, he adds. Two-thirds of properties listed by veteran agents sold, while only half of properties listed by rookies did. That 12% works out to about $25,000 for an average home. If your home value is above average, obviously that 12% can amount to much more money. Unless that amount of money doesn't matter to you, then it would certainly behoove you to consider your real estate agent's experience when selling your home. If you're considering selling, have an experienced agent complete an Comparative Market Analysis to determine how much your home is worth by <a href="https://www.intownelite.com/sellers/free-market-analysis/">clicking here</a>.2013-12-19T01:29:00-07:002016-07-23T02:26:12-07:00Intown Elitetag:intownelite.com,2012-09-20:1242Will the Internet eliminate real estate agents?The rapid advancement of technology has impacted nearly every facet of our lives. As every child of the 80's knows, <a href="http://youtu.be/Iwuy4hHO3YQ" target="_blank">video killed the radio star</a>. The music industry has seen much disruption since that song was released in 1979, from MTV to Napster to the iPod and now streaming services like Pandora and Spotify, the industry will never be the same. The internet has caused similar disruption in the travel and financial services industries, allowing consumers to shop and purchase travel tickets and securities without travel agents and stock brokers. So why hasn't the internet caused similar disruption in the residential real estate industry?
<img class="img_box_right" alt="Browser" src="https://assets.site-static.com/userfiles/559/image/Browser-300x199.jpg" width="300" height="199" />Well, it's not for lack of trying. Many companies have started with that intention, only to find that it's more difficult than they expected. Two of the largest companies that could be considered to be in that category are Trulia and Zillow. Many thought they would derail the traditional real estate agent - client relationship. Perhaps they themselves thought that at the early stages of their companies. If buyers and sellers simply had free access to information, they wouldn't need agents, would they? Well, it appears that in real estate, access to information is not the panacea that some may have thought. Zillow now compares itself to WebMD. Zillow CEO Spencer Rascoff recently <a href="http://www.geekwire.com/2012/zillow-ceo-spencer-rascoff-startups-disrupt-real-estate-commissions-doomed-fail/" target="_blank">said</a>;
“You have as much information sometimes as the doctor, but you are still seeing the doctor because they are the expert.”
<br /> Now it's clear that, far from eliminating agents, their primary business is actually selling advertising and other services to real estate agents. As Rascoff recently said about Zillow, “We sell ads, not houses.” Basically, they tell agents who are seeking clients, 'Hey, we have all these prospective home buyers visiting our site, how 'bout paying us to put your ad in front of them?' In other words, the consumers who visit their websites are not their customers, they are the product. Real estate agents are their customers. Recently another company started up with the sole intention of eliminating real estate agents. In May of last year, ReasLo / Reesio founder Mark Thomas confidently <a href="http://techcrunch.com/2012/05/22/dotloop-raises-7m-from-trinity-to-kill-real-estate-paperwork/#comments" target="_blank">stated</a>,
"We just launched ReasLo a month ago, playing in the same space. Except we're planning on replacing real estate agents altogether by going directly after sellers and automating the entire process from beginning to end for a flat $1,000. And not just the paperwork -- EVERYTHING (crowdsourcing of photography, open houses, etc. with licensed agents). The industry is prime for disruption!"
<br /> Just over a year later, he was singing quite a <a href="http://techcrunch.com/2013/08/04/who-will-disrupt-real-estate/?hubRefSrc=permalink#lf_comment=92996744" target="_blank">different tune</a>:
Ok, I've had several people ask me to talk about the roadblocks that Reesio faced when it originally set out to do a FSBO product back in Summer 2012. As such, I'm just going to post the answer right here in the comments for everyone to see. So here are some of takeaways and learnings that we had from trying to do a FSBO model: - FSBO's represent 9% of the market, and that number has held steady for years, and is not expected to go up anytime soon. And there's a reason for this. When you're talking about buying/selling real estate, you're talking about the biggest single purchase in many people's lives (for buyers). So if that holds true, and buyers insist on using an agent to buy a home (which most do), that means at a minimum the least amount a seller will be able to get away with paying is 2.5%-3% for the Buyer's Agent commission portion. Now throw in the fact that sellers are scared shitless of falling into legal traps and other nuisances with selling a home (not to mention the negotiation part), you are therefore asking for a HUGE shift in behavior. No matter how great the technology is, trying to change behavior that dramatically is always a tough thing to do. - Ok, so let's assume you've somehow found a way to convince 25% of sellers to change behavior and go FSBO. As the technology platform, which documents will you provide sellers with to conduct their transactions? Not only does every state have its own rules and regulations regarding disclosures, what need to be signed, etc., but each county does as well. So you're looking at putting together a minimum of 900 sets of documents (there are currently 900 MLS's across the country). Assume a generous $20K in legal fees for each set of documents, and you're looking at $18M in legal fees on creating documents alone (and don't even think of trying to license documents from the state and local association of realtors, who hold a monopoly and copyright on their docs -- we actually received a C&D letter from CAR when we tried using their docs). Maybe if you're lucky you can find a natioinal law firm that will do all of your docs nationwide for a flat fee of $5M. - So you're in for $5M on just legal docs alone (good luck getting funding for that). And once those docs are created, I'm assuming that you'll be able to create a beautiful, clean workflow and step-by-step instructions for managing those documents. But now what about all of the offline stuff that needs to happen for the seller? Such as BPO's (Broker Price Opinions), Open Houses, Broker Tours, etc.? We tried crowdsourcing that to a network of brokers and it was a huge PITA. And you can't skip those steps -- both Sellers and Buyers care about them. So you'll either have to pay a reasonable amount of money for those services, or try to build out a huge network of agents to do these for a low flat fee (a pain). - And don't forget about the call center of real estate agents that you'll probably need to employ anyways to answer the myriad of questions that sellers have about every little tiny thing that comes up, from whether to disclose the leak in the kitchen faucet to whether they should counter the top 2 offers or the top 5 offers. Trust me -- all of the sellers that used our FSBO product wanted a Mercedes at a Toyota price, so they will hound you for questions at all times, day or night. And no matter what cheap/flat-fee price you're charging, you'll be expected to answer the questions and provide full service. After question #18, it becomes a profit-buster. - By the way, how are you going to find all of these sellers to list with you? Predicting when someone is ready to sell a home is about one of the hardest things in the world to do. I know that there are products like SmartZip, but it's still super hard, and your CAC's to acquire sellers will most likely be through the roof. All in all, you're looking at a minimum of $10M for 18 months of runway to get this off the ground, and more likely $15M-$20M. Which investor is going to fund that without any proof of traction? And to get that traction, you need big $$$ (for the reasons stated above).
Now, realizing the complexity of the home purchase and sale transaction, Thomas has morphed his company into one that offers transaction management software for real estate agents. Going from the stated intention of eliminating real estate agents to now soliciting them as customers is quite a pivot. He'll need much luck to succeed with that model if agents retain any memory of his initial goals. So, it seems as though the transaction of purchasing a home is fundamentally different than buying a plane ticket or a stock. Though we have a free market, and nobody is forced to use an agent to buy or sell a home, most choose to use an agent. According to <a href="http://www.realtor.org/field-guides/field-guide-to-quick-real-estate-statistics" target="_blank">NAR</a>, only 9% of home sales in 2012 were accomplished without an agent. Despite the proliferation of the internet, that number is actually down from 13% in 2008. Perhaps ironically, it may have been Zillow CEO Rascoff who stated it most succinctly;
“For most people, buying a home is very infrequent, very expensive, very emotional and highly complex, so they typically need a real estate practitioner, a professional, to help them through the transaction.”
Of course that's just one man's opinion, what do you think?
Photo credit: <a id="yui_3_7_3_3_1378260311162_1600" href="http://www.flickr.com/photos/ntr23/">ntr23</a> on Flickr. CC license.2013-09-03T23:17:00-07:002016-07-23T02:28:42-07:00Intown Elitetag:intownelite.com,2012-09-20:1239Crime in Atlanta - Perception versus RealityWhen speaking to people who live <a href="https://www.intownelite.com/blog/atlanta-lingo-how-to-speak-like-a-local/">OTP</a>, I often find that their perception of living intown is markedly different than the reality that I experience every day. Three of the most common misperceptions I hear about are the crime, traffic and schools - they're all worse than the 'burbs, right? Well, I've covered the topic of <a title="Good Public Schools in Atlanta? Yes!" href="https://www.intownelite.com/atlanta-public-schools/">schools</a> before, so in this article I'll tackle crime, and we'll save traffic for a later article. Often times people who grew up in the metro Atlanta area have their opinions forged over decades past. There is a tendency, as we get older, to have nostalgia for the "good ol' days" of our youth, and think that everything is going downhill now. However, what many may not realize is that, in reality, things have dramatically improved over the last couple of decades.
<a title="Police car at Atlanta Underground" href="https://assets.site-static.com/userfiles/559/image/Atlanta-police-conner395.jpg" rel="prettyPhoto"><img class="img_box_left" title="Atlanta crime" alt="Police car at Atlanta Underground" src="https://assets.site-static.com/userfiles/559/image/Atlanta-police-conner395-300x200.jpg" width="300" height="200" /></a>
Let's speak for a moment on a macro scale. Because of the 24-hour news cycle and the tendency to sensationalize bad news, many people think we are living in an era of declining morals and increasing violence and crime. In actuality, that's not the case. Stephen Pinker makes the case in his book, "<a href="http://www.amazon.com/The-Better-Angels-Our-Nature/dp/0143122010/" target="_blank">The Better Angels of Our Nature: Why Violence Has Declined</a>," that we may be living in the most peaceful moment in our species' existence. You might say, "Interesting book, but I bet the statistics say otherwise." Actually, no, statistics confirm that <a href="http://www.guardian.co.uk/commentisfree/2013/apr/28/crime-is-down-what-a-mystery" target="_blank">crime continues to decline</a>, even since the 2008 economic decline. You might say, "Yeah, maybe globally, but what about here in the U.S.?" Yes, <a href="http://www.cnn.com/2012/10/29/justice/us-violent-crime" target="_blank">crime has been on a steady decline here in the U.S.</a>, too. You might say, "Sure, but crime is getting worse in the big cities versus the suburbs, right?" Wrong. A recent report in the <a href="http://online.wsj.com/article/SB10001424127887323300404578206873179427496.html" target="_blank">Wall Street Journal</a>, using data from the federal Bureau of Justice Statistics and the Brookings Institution, shows that suburban homicide rates increased 16.9% between 2001 and 2010, meanwhile large cities saw a decline of 16.7% over the same time period. Now you might be saying, "OK, but what about Atlanta specifically?" Glad you asked! The diverging trends of declining crime in the city versus increasing crime in the suburbs is even more pronounced in Atlanta than in other metro areas. According to the same WSJ report cited above, between 2000 and 2008 violent crime rose 23% in the suburbs while dropping 49% in the city of Atlanta.
This quote from <a href="http://en.wikipedia.org/wiki/Crime_in_Atlanta" target="_blank">Wikipedia</a> sums it up quite succinctly:
Between 2001 and 2009 the crime rate in Atlanta dropped by 40 percent, according to the FBI. Homicide fell 57 percent. Rape was down 72 percent. Violent crime overall was down 55 percent. Atlanta’s public safety improvement between 2001 and 2009 occurred at more than twice the rate of the rest of the country. Crime is down across the country, but Atlanta’s improvement has far surpassed the national trend. This relative improvement explains why Atlanta—after ranking in the top five highest crime cities for most of the previous three decades—now ranks 31st. Atlanta has lower crime than Salt Lake City, Orlando and Tacoma, Washington.
Photo courtesy of conner395 on Flickr. CC license.2013-07-28T20:29:00-07:002016-07-23T07:06:41-07:00Intown Elitetag:intownelite.com,2012-09-20:1238Atlanta homes are selling fastIf you're involved in the Atlanta residential real estate market in any capacity, buyer, seller, agent or other, you've noticed that something has changed over the last year. The market has shifted significantly. Homes are selling fast, and I mean crazy-fast. What's "crazy-fast?" Days. Sometimes just one day. Sometimes not even a day. Often with multiple offers. I've experienced faster than expected sales recently on both sides of the transaction, on my own listings and when representing buyers. And from speaking with other agents around time, I'm not alone. "Sure," you might say, "that's anecdotal evidence, but is it really true for the Atlanta market as a whole?" I looked at the numbers and here's what I found.
I checked the FMLS records over the last 3 years to see how many homes sold each year in various days-on-market brackets. For the purposes of this blog post, I'm just using single-family homes sold in the city of Atlanta. Below are the numbers:
Homes sold in 14 days or less in Atlanta:
2010: 919
2011: 922
2012: 1453
Homes sold in 7 days or less in Atlanta:
2010: 399
2011: 406
2012: 691
Homes sold in 3 days or less in Atlanta:
2010: 127
2011: 137
2012: 269
Homes sold in 1 day or less in Atlanta:
2010: 49
2011: 65
2012: 103
<a href="https://www.intownelite.com/resources/atlanta-market-conditions/"><img alt="Inventory of homes for sale in Atlanta, GA April 2013" src="https://assets.site-static.com/userfiles/559/image/April-2013-Atlanta-Inventory.png" width="360" height="240" class="img_box_center" style="float: left; margin: 15px;" /></a> As you can see, in all cases there is a huge jump in number of homes sold that quickly in 2012 versus previous years. Why is this? The total volume of sales has increased somewhat, but nowhere near as much as the increase in quickly selling homes. So what's causing homes to fly off of the shelves?
The primary driver is that fact that inventory is down. Way down. In other words, there are fewer homes available for sale than there has been in the past. The foreclosures that were flooding the market in the past are drying up. Over the last few years there have been far fewer new-construction developments being built. Fewer new single-family subdivisions. Fewer new condo and town home complexes. Fewer on-off spec homes. Many homeowners have been upside-down on their values, so they can't afford to sell, bringing those would-be sellers off of the market. Many sellers who "want" to sell, but don't really "need" to sell have given up. So the sellers that remain often have some driving motiviation for their sale, and many are pricing their homes to sell quickly.
This has lead to an decrease in the overall days-on-market. This is how long it takes to sell a home, from the time a property is listed for sale until it goes under contract. Under contract means the seller has reached a binding agreement with a buyer . The sale has not closed yet, but the property if off the market. This is only measured on homes that have actually sold, so pending sales that fall out of contract aren't included. In other words, this is the actual time-on-market for homes that sold in Atlanta over the past year. <a href="https://www.intownelite.com/resources/atlanta-market-conditions/"><img class="img_box_center" alt="Atlanta DOM" src="https://assets.site-static.com/userfiles/559/image/April-2013-Atlatna-DOM.png" width="360" height="240" title="Atlanta DOM" style="float: left; margin: 15px;" /></a>
Real estate is just like any other market in our economy, prices are driven by supply and demand. Even if there were no increase of buyers entering the market, the drop in inventory alone changes the supply / demand curve dramatically. Market action index is a measure of real estate supply versus demand. This index shows if the market is trending hotter or colder. A value above 30 indicates a “hot” or “seller’s market, while below that mark indicates a is a “cold” or “buyer’s market.” This can be leading indicator for prices. As you can see on the graph to the left, Atlanta has catapulted into seller's market territory this year. When one compares the trajectory of the MAI chart to that of the Inventory chart, it's readily apparent that there's more going on here than a simple decline in inventory. One can also see that, although the inventory declined throughout 2012, the MAI doesn't really jump up until 2013. There must also be a coincident increase in the number of buyers in the 2013 market to form such a hockey-stick graph profile. So, I would expect the number of fast sales in 2013 to surpass even the elevated numbers of 2012. This is a perfect storm for increasing prices, should it continue. <a href="https://www.intownelite.com/resources/atlanta-market-conditions/"><img class="img_box_center" alt="Atlanta MAI" src="https://assets.site-static.com/userfiles/559/image/April-2013-Atlanta-MAI.png" width="360" height="240" title="Atlanta MAI" style="float: left; margin: 15px;" /></a>
What does it all mean for buyers and sellers in the Atlanta rea estate market? For sellers it means the tide is turning in your favor. You should be able to sell faster than in years past, and if trends continue, for a higher price. However, I must caution against "irrational exuberance", too. We are only beginning to turn this ship around, and sellers must be careful not to overreach on price. The homes that are selling fast are those that are in good locations, good condition, and most importantly, are priced correctly. While it's exciting to see that last year 269 homes sold in 3 days or less, it's also important to remember that nearly twice that many (535 homes) took over 180 days to sell.
For buyers, it means that you can't hesitate on making offers, and you can't lowball anymore. Recently I saw a "coming soon" sign go up in the yard of an Atlanta home. I immediately notified my buyer, but before they could arrange their schedules to see the home, it was under contract with multiple offers. The home never even officially went "on the market" and it was gone. Yep, things have definitely changed here in Atlanta.
(All charts current as of time of writing. Click image for the latest chart, updated daily.)2013-04-17T21:53:00-07:002016-07-23T07:08:43-07:00Intown Elitetag:intownelite.com,2012-09-20:1237Murphey Candler Park - Featured Atlanta ParkToday's featured Atlanta park is Murphey Candler Park. This is a 135-acre public park located in the neighborhood (soon to be its own city) of <a title="Brookhaven" href="https://www.intownelite.com/buckhead-real-estate/brookhaven-homes-for-sale-atlanta-ga/">Brookhaven</a>. Not to be confused with <a title="Candler Park" href="https://www.intownelite.com/intown-atlanta-real-estate/candler-park-homes-for-sale-atlanta-ga/">Candler Park</a> (sans Murphey), which is an <a title="Intown Neighborhood Guide Map" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta neighborhood</a> and a park of the same name. Murphey Candler, for whom the park was named, was a state Representative and Senator, who's son was DeKalb County commissioner. The park is owned and operated by DeKalb County Parks and Recreation, and was opened in 1954. Murphey Candler Park is home to many youth sports programs, including baseball, softball, football and swimming. In addition to the sporting amenities, the park also has a playground, picnic areas, walking trails and a lake. <a href="https://assets.site-static.com/userfiles/559/image/Murphey-Candler-Park.jpg" rel="prettyPhoto"><img class="img_box_left" title="Murphey Candler Park" src="https://assets.site-static.com/userfiles/559/image/Murphey-Candler-Park-150x150.jpg" alt="Murphey Candler Park" width="150" height="150" /></a><a href="https://assets.site-static.com/userfiles/559/image/Murphey-Candler-Park-lake.jpg" rel="prettyPhoto"><img class="img_box_left" title="Murphey Candler Park lake" src="https://assets.site-static.com/userfiles/559/image/Murphey-Candler-Park-lake-150x150.jpg" alt="Murphey Candler Park lake" width="150" height="150" /></a><a href="https://assets.site-static.com/userfiles/559/image/Murphey-Candler-Park-fields.jpg" rel="prettyPhoto"><img class="img_box_left" title="Murphey Candler Park fields" src="https://assets.site-static.com/userfiles/559/image/Murphey-Candler-Park-fields-150x150.jpg" alt="Murphey Candler Park fields" width="150" height="150" /></a><a href="https://assets.site-static.com/userfiles/559/image/Murphey-Candler-baseball.jpg" rel="prettyPhoto"><img class="img_box_left" title="Murphey Candler baseball" src="https://assets.site-static.com/userfiles/559/image/Murphey-Candler-baseball-150x150.jpg" alt="Murphey Candler baseball" width="150" height="150" /></a> Murphey Candler Park is also the name of the neighborhood surrounding the park, which includes ranches and two story traditional homes built from the mid-1950's through 1970. Click the link to view all the listings in <a href="https://www.intownelite.com/buckhead-real-estate/murphey-candler-park-homes-for-sale-brookhaven-ga/">Murphey Candler Park</a>.2012-09-24T19:46:00-07:002016-07-23T07:10:05-07:00Intown Elitetag:intownelite.com,2012-09-20:1236Tanyard Creek Park - Featured Atlanta ParkAtlanta has a unique feel compared to similar sized cities owing much to its ample tree canopy and collection of parks. It has earned the nickname of "the city in the forest" based on the <a href="http://en.wikipedia.org/wiki/Atlanta_tree_canopy" target="_blank">fact</a> that its tree coverage is the highest of all major US cities. Atlanta also has 343 parks, gardens, nature preserves and public greenspaces, totaling 3,622 acres. This blog post is the first in a series that will profile the various parks and greenspaces around <a title="Intown Neighborhood Guide Map" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta</a> and <a title="Buckhead Neighborhood Guide Map" href="https://www.intownelite.com/buckhead-real-estate/">Buckhead</a>. Today's featured space is Tanyard Creek Park
Tanyard Creek Park is located in the southern portion of Buckhead, between the neighborhoods of <a title="Collier Hills" href="https://www.intownelite.com/buckhead-real-estate/collier-hills-homes-for-sale-atlanta-ga/">Collier Hills</a> and <a title="Ardmore Park" href="https://www.intownelite.com/buckhead-real-estate/ardmore-park-homes-for-sale-atlanta-ga/">Ardmore Park</a>. Tanyard Creek Park has a little bit of something for everyone. There is a paved <a title="Path Foundation" href="http://pathfoundation.org/" target="_blank">path</a> that runs the length of the park from north to south, which is part of the <a title="Beltline" href="http://beltline.org/visit/trails/" target="_blank">Atlanta Beltline</a> project. This path is stroller-friendly and suitable for running and biking as well. On the east side of this path is a huge, open grassy area. Here you'll often see groups of people playing frisbee or tossing a football around. This area has become sort of an unofficial off-leash dog park, though technically Atlanta's leash law applies, so use your discretion. On the west side of the path is a large playground area with swings, slides and other play equipment. The northern end of the path runs up to southern extremity of Bobby Jones Golf Course. The southern end will take you under the CSX railroad bridge to Ardmore Park (the actual park in the neighborhood of the same name). <a href="https://assets.site-static.com/userfiles/559/image/Tanyard-sign.jpg" rel="prettyPhoto"><img class="img_box_left" title="Tanyard sign" src="https://assets.site-static.com/userfiles/559/image/Tanyard-sign-150x150.jpg" alt="" width="150" height="150" /></a><a href="https://assets.site-static.com/userfiles/559/image/Tanyard-Panorama.jpg" rel="prettyPhoto"><img class="img_box_left" title="Tanyard Panorama" src="https://assets.site-static.com/userfiles/559/image/Tanyard-Panorama-150x150.jpg" alt="" width="150" height="150" /></a><a href="https://assets.site-static.com/userfiles/559/image/Tanyard-Park.jpg" rel="prettyPhoto"><img class="img_box_left" title="Tanyard Park" src="https://assets.site-static.com/userfiles/559/image/Tanyard-Park-150x150.jpg" alt="" width="150" height="150" /></a><a href="https://assets.site-static.com/userfiles/559/image/Tanyard-bridge.jpg" rel="prettyPhoto"><img class="img_box_left" title="Tanyard bridge" src="https://assets.site-static.com/userfiles/559/image/Tanyard-bridge-150x150.jpg" alt="" width="150" height="150" /></a><a href="https://assets.site-static.com/userfiles/559/image/Tanyard-CSX-bridge.jpg" rel="prettyPhoto"><img class="img_box_left" title="Tanyard CSX bridge" src="https://assets.site-static.com/userfiles/559/image/Tanyard-CSX-bridge-150x150.jpg" alt="" width="150" height="150" /></a><a href="https://assets.site-static.com/userfiles/559/image/Beltine-Path-sign.jpg" rel="prettyPhoto"><img class="img_box_left" title="Beltine Path sign" src="https://assets.site-static.com/userfiles/559/image/Beltine-Path-sign-150x150.jpg" alt="" width="150" height="150" /></a> To visit Tanyard Creek Park, from Peachtree take Collier Road to Walthall Drive or Dellwood Drive. Alternatively from Peachtree, you can take 28th Street and park on Ardmore Road and enter Tanyard Creek Park via Ardmore Park. You can also take 26th Street through <a title="Brookwood neighborhood" href="https://www.intownelite.com/buckhead-real-estate/brookwood-homes-for-sale-atlanta-ga/">Brookwood</a> and enter by the<a title="Reserve at City Park townhomes" href="https://www.intownelite.com/atlanta-homes/results/?searchtype=2&searchid=5650"> Reserve at City Park townhomes</a>. From Northside Drive, take Collier Road to Walthall Drive. Better yet, just <a title="Tanyard Creek Park" href="http://goo.gl/maps/DRJt" target="_blank">click here </a>for the Google map and find the best way from wherever you are!2012-05-25T20:45:00-07:002016-07-23T12:43:57-07:00Intown Elitetag:intownelite.com,2012-09-20:1234Lower your Atlanta Water Bill by getting new toilets ... For Free!Atlanta has frequently made <a href="http://www.google.com/#sclient=psy-ab&hl=en&site=&source=hp&q=site:ajc.com+atlanta+water+bills&pbx=1&oq=site:ajc.com+atlanta+water+bills&aq=f&aqi=&aql=&gs_sm=e&gs_upl=1102l1102l0l2789l1l1l0l0l0l0l142l142l0.1l1l0&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=2357ca502caff1a7&biw=1439&bih=779" target="_blank">news</a>, in both the local and national press, about it's sky-high water bills. Though many residents were faced with inaccurate bills, even accurate bills are high, as Atlanta's water rates themselves are among the highest in the country. Why? The water rates have mushroomed in recent years in order to help pay for the Clean Water Atlanta Program, a $4 billion federally mandated overhaul of the City’s aging and deteriorated sewer systems. So what can an Atlantan do to conserve water (and therefore money)?
<img class="img_box_center" title="Money down the drain" src="https://assets.site-static.com/userfiles/559/image/Money-Drain.jpg" alt="Money down the drain" width="180" height="240" /> Your old toilet is flushing money down the drain. Photo credit: Images_of_Money on Flickr. CC License One of the biggest water wasters in the home is the toilet. This is especially true in the older homes in <a title="Buckhead Neighborhood Guide Map" href="https://www.intownelite.com/neighborhoods/buckhead-real-estate/">Buckhead</a> and <a title="Intown Neighborhood Guide Map" href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/">Intown Atlanta neighborhoods</a>. Depending on the vintage, and older toilet can use 3 to 8 times more water than newer low-flow toilets. Of course, regardless of the money, using less water is the right thing to do, and is an important step if you want to have a <a title="Green Homes" href="https://www.intownelite.com/green-homes-in-atlanta/">green home</a>. But I'm sure there are some number crunchers out there who are asking where the break-even point is on the expense of replacing your toilets versus money saved in water bills. What if I told you one could replace their toilets for free? Well you can. For a few years now, the city of Atlanta and other local municipalities have been offering <a title="Toilet Rebate Program" href="http://www.northgeorgiawater.org/html/315.htm" target="_blank">rebates</a> for replacing your old toilets with new, high-efficiency toilets. Recently Home Depot dropped the price on their Glacier Bay model N2316 to $98. This model qualifies for a rebate of $100, making it essentially free. You can get up to 2 rebates per household. If you have basic DIY skills, replacing a toilet is pretty simple. If you're not the handy type, feel free to contact me and I can recommend some good plumbers in the area. Though these efficient toilets use considerably less water, the newer models flush just fine. This particular one has a flush rating of 10 out of 10. There are many other models that qualify for the rebate, you can find a full list <a title="$100.00 Rebate Approved Toilet List (PDF)" href="http://www.northgeorgiawater.org/files/_100_00_Rebate_List.pdf" target="_blank">here</a>. The toilet must be WaterSense Certified, which means it uses an average 1.28 gallons per flush or less. We opted for a dual-flush model, which uses 1.1 gallons for the "little" flush, and 1.6 gallons for the "big" flush. Most find that the "little" flush is sufficient the vast majority of the time, making the dual flush models even more efficient than the 1.28 gpf models. Now, the next issue is what to do with your old toilets. Though the <a title="Metropolitan North Georgia Water Planning District Regional Toilet Rebate Program" href="http://www.northgeorgiawater.org/html/392.htm" target="_blank">North Georgia Water</a> website is pretty informative about the rebate program itself, it's not as helpful on how to recycle old toilets. My first inclination was to donate it to <a title="Atlanta Habitat" href="http://www.atlantahabitat.org/">Habitat for Humanity</a> or similar charity. Turns out, they don't want the old water-wasting toilets, either! Though they're perfectly functional, it seems their only value is in their porcelain. After some phone calls, I found out that many of the charities that were listed on Earth911.com as accepting porcelain donations actually don't. Eventually I found <a title="Toilet Rebate Recycling" href="http://www.atlantawatershed.org/conservation/multi-family-recycling-guide.htm" target="_blank">this page</a> on the Atlanta Watershed site. These are industrial businesses that recycle porcelain. Though they are used to dealing with multi-family projects that are recycling a large number of toilets, they will accept toilets from homeowners, too. The odd thing is that, although they will presumably be making money from recycling your porcelain, you have to pay them for the privilege! Regardless, the cost is small, and you'll have the peace of mind of knowing they're being recycled. So go and replace those water-wasting toilets. At this price, you no longer have an excuse. The rebate will last until funds are depleted, so don't procrastinate any longer!2012-01-04T16:17:00-07:002020-02-11T17:28:28-07:00Intown Elitetag:intownelite.com,2012-09-20:1235Intown Atlanta and Buckhead schools to be rezonedAs mentioned in a previous <a title="Good Public Schools in Atlanta? Yes!" href="https://www.intownelite.com/blog/good-public-schools-in-atlanta-yes/">blog post</a>, Atlanta has some fine public schools. But, like most other cities, there are also those that are underperforming. This has a predictable effect on people's behavior, both in terms of real estate as well as the attendance of the schools. Home buyers are attracted to the <a title="Intown Neighborhood Guide Map" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta</a> and <a title="Buckhead Neighborhood Guide Map" href="https://www.intownelite.com/buckhead-real-estate/">Buckhead neighborhoods</a> that have the <a title="Good Public Schools in Atlanta? Yes!" href="https://www.intownelite.com/blog/good-public-schools-in-atlanta-yes/">best schools in Atlanta</a>. This bolsters home values in those neighborhoods, but also leads to overcrowding in those schools. This overcrowding is exacerbated by the <a href="http://www.ajc.com/news/atlanta/young-professionals-lead-surge-907440.html">61% surge of young professionals</a> living in Intown Atlanta. In decades past, most young couples would move to the 'burbs when they settled down. Now many of them are staying intown. Meanwhile, other schools end up under capacity. Simple solution; just move kids from the overcrowded schools to those that are under capacity, right? Not so fast.
<img class="img_box_left" title="APS Options Map" src="https://assets.site-static.com/userfiles/559/image/APS-Options-Map-291x300.png" alt="" width="291" height="300" /> A portion of one of the proposed options The Atlanta Public Schools district is in the early stages of <a title="APS Demographic Study" href="http://www.atlanta.k12.ga.us/Page/413" target="_blank">studying</a> how to remedy this situation. The demographers have come up with <a title="Scenarios/Options Summary (PDF) " href="http://www.atlanta.k12.ga.us/cms/lib/GA01000924/Centricity/Domain/45/APS%20Draft%20Option%20Summaries%20%2011_29_11.pdf" target="_blank">4 options</a> on how to <a title="Option Maps (PDF)" href="http://www.atlanta.k12.ga.us/cms/lib/GA01000924/Centricity/Domain/45/APS%20Draft%20Options%20Maps%2011_29_11.pdf" target="_blank">redraw the school districts</a> to tackle the overcrowding issue. All of the options include building a new North Atlanta High School, moving Sutton Middle school to the site of the existing North Atlanta High School and building a new <a title="Midtown" href="https://www.intownelite.com/intown-atlanta-real-estate/midtown-atlanta-condos-and-homes-for-sale/" target="_blank">Midtown</a> Middle school. Two of the scenarios also include the building of a new North Atlanta Elementary School. All plans include variations of expanding some schools and closing others. Some of these options will have certain neighborhoods moved from highly-rated schools to underperforming schools. The mere sight of these scenarios has injected fear into the hearts and minds of many local parents. Even non-parents have cause for concern, because the changing of school district lines can have a deleterious effect on property values. So, many local residents look at all four options and think, "None of the above!" However, while there is cause for concern, it's too early for alarm. All of these scenarios are based on demographics alone, i.e., they are population driven only. As such, no community input has been considered ... yet. These options are very preliminary, and APS fully expects that the final district lines will likely look nothing like any of these scenarios. So, now they are at the phase of seeking community input. Your first opportunity to voice your concerns is through <a title="Feedback Form / Comments Link" href="http://www.surveymonkey.com/s/2SPYCCK" target="_blank">this survey</a>, which APS is asking local residents to complete. As this is important to all homeowners in the area, I encourage everyone to fill out the survey and let their thoughts be known. To see school ratings and search homes by school district / attendance zone, vist our <a href="https://www.intownelite.com/atlanta-public-schools/">Atlanta School Guide</a>.2011-12-03T00:02:00-07:002016-07-23T12:48:15-07:00Intown Elitetag:intownelite.com,2012-09-20:1233New Home Search featuresWe keep adding new and improved home search features here on IntownElite.com, and the latest additions are pretty slick! You may have noticed these already, but I hadn't blogged about them yet. One is the "autocomplete" location search box. This box can accept almost any type of location information, such as Cities, Zip Codes, Neighborhoods, Condo names, etc. But now it can also accept addresses, MLS numbers and Schools. It works somewhat like Google's Instant Search, just start typing and it starts figuring out what you're looking for. You'll see that autocomplete search box on our home page, in the right sidebar of pages that have one, and in the left sidebar of our <a href="https://www.intownelite.com/atlanta-homes/results/">home search</a>.
<img class="img_box_left" title="Criteria" src="https://assets.site-static.com/userfiles/559/image/Autocomplete.png" width="250" height="341" style="margin: 10px; float: left;" />Below that search box is where you set your search preferences. The neat improvement here, is that as soon as you start entering in your criteria, the results to the right immediately starts displaying the listings that match those specifications. You can select price, bedrooms, baths, etc., and instantly the listings displayed on the right will automagically refine to display only those listings, and the green "Properties Found" keeps a running count of how many listings that meet those preferences. Once you've set your preferences, you can mouse over property icons on the map, or see the listings displayed in a list or gallery format. Well, we think it's pretty cool, and we hope you will too. Bottom line, it empowers you to help you find a home that's perfect for you. <a title="Find a Home" href="https://www.intownelite.com/atlanta-homes/results/">Click here to try it out</a>! Now, if you prefer not to do all the hunting yourself, we're here to help. Feel free to <a href="https://www.intownelite.com/contact/">contact us</a> and we can set up a custom search just for you.2011-11-05T18:26:00-07:002016-07-23T12:48:55-07:00Intown Elitetag:intownelite.com,2012-09-20:1232Good Public Schools in Atlanta? Yes!Now that we have a kid on the way, we sometimes hear some of our our suburban friends say, "Well, now you have to move <a title="Atlanta Lingo – How to Speak Like a Local" href="https://www.intownelite.com/blog/atlanta-lingo-how-to-speak-like-a-local/">OTP</a>!" We actually had one friend-of-a-friend stridently exclaim, "You can't raise kids in the city!" (Gasp!) Oh really? Why's that? Of course everyone has their biases, but putting those aside, the subject that often seems to come up is schools. Some of the more "open minded" suburbanites would concede that it might be OK to raise kids in the city, but one would have to send their kids to private school. But is this true? Are there really no good public schools in the city of Atlanta?
The recent, well-publicized APS cheating scandal did much damage to the image of Atlanta Public Schools. But let's not throw out the proverbial baby with the bathwater. There are still several excellent public schools in Atlanta. For the most part, the <a title="Search Georgia CRCT Cheating Investigation Results" href="http://www.ajc.com/news/georgia-crct-cheating-scandal-295376.html" target="_blank">schools which were implicated in cheating</a> to improve their test scores, still had poor test scores overall! By contrast, the highly-rated schools that were not involved in the cheating scandal continue to post high test scores. Below is a list if highly-rated public schools inside Atlanta's <a title="Atlanta Lingo - how to talk like a local" href="https://www.intownelite.com/blog/atlanta-lingo-how-to-speak-like-a-local/">perimeter</a>. Click on the school name for info & test scores. To see school ratings and search homes by school district / attendance zone, vist our <a href="https://www.intownelite.com/atlanta-public-schools/">Atlanta School Guide</a>.
In the Atlanta Public School district:
Elementary:
<a href="https://www.intownelite.com/atlanta-public-schools/e-rivers-elementary-school-homes-for-sale-atlanta-ga/">E. Rivers</a>
<a title="Info & Test Scores for Morris Brandon Elementary" href="https://www.intownelite.com/atlanta-public-schools/brandon-elementary-school-homes-for-sale-atlanta-ga/">Morris Brandon</a>
<a title="Info & Test Scores for Warren T Jackson Elementary" href="https://www.intownelite.com/atlanta-public-schools/warren-t-jackson-elementary-school-homes-for-sale-atlanta-ga/">Warren T. Jackson</a>
<a title="Info & Test Scores for Mary Lin Elementary" href="https://www.intownelite.com/atlanta-public-schools/mary-lin-elementary-school-homes-for-sale-atlanta-ga/">Mary Lin</a>
<a title="Info & Test Scores for Morningside Elementary" href="https://www.intownelite.com/atlanta-public-schools/morningside-elementary-school-homes-for-sale-atlanta-ga/">Morningside</a>
<a title="Info & Test Scores for Atlanta Neighborhood Charter School" href="https://www.intownelite.com/atlanta-public-schools/atlanta-neighborhood-charter-school/">Neighborhood Charter</a>
<a title="Info & Test Scores for Sarah Smith Elementary" href="https://www.intownelite.com/atlanta-public-schools/sarah-smith-elementary-school-homes-for-sale-atlanta-ga/">Sara Smith</a>
<a title="Info & Test Scores for Springdale Park Elementary" href="https://www.intownelite.com/atlanta-public-schools/springdale-park-elementary-school-homes-for-sale-atlanta-ga/">Springdale Park (SPARK)</a>
Middle:
<a title="Info & Test Scores for Charles R. Drew Charter School" href="https://www.intownelite.com/atlanta-public-schools/atlanta-neighborhood-charter-school/">Neighborhood Charter</a>
<a title="Info & Test Scores for Inman Middle" href="https://www.intownelite.com/atlanta-public-schools/inman-middle-school-homes-for-sale-atlanta-ga/">Inman</a>
<a href="https://www.intownelite.com/atlanta-public-schools/sutton-middle-school-homes-for-sale-atlanta-ga/">Sutton</a>
High:
<a title="Info & Test Scores for Early College and School of Arts at Carver" href="http://www.greatschools.org/georgia/atlanta/3640-Early-College-High-School-At-Carver/" target="_blank">Early College High School at Carver</a>
<a title="Info & Test Scores for Grady High School" href="https://www.intownelite.com/atlanta-public-schools/grady-high-school-homes-for-sale-atlanta-ga/">Grady High</a>
<a href="https://www.intownelite.com/atlanta-public-schools/north-atlanta-high-school-homes-for-sale-atlanta-ga/">North Atlanta</a>
In the City Schools of Decatur district:
Elementary:
<a href="https://www.intownelite.com/atlanta-public-schools/clairemont-elementary-school-homes-for-sale-decatur-ga/" target="_blank">Clairemont</a>
<a title="Info & Test Scores for Glennwood Elementary" href="https://www.intownelite.com/atlanta-public-schools/new-glennwood-elementary-school-homes-for-sale-decatur-ga/">Glennwood</a>
<a title="Info & Test Scores for Oakhurst Elementary" href="https://www.intownelite.com/atlanta-public-schools/oakhurst-elementary-school-homes-for-sale-decatur-ga/">Oakhurst</a>
<a title="Info & Test Scores for Winnona Park Elementary" href="https://www.intownelite.com/atlanta-public-schools/winnona-park-elementary-school-homes-for-sale-decatur-ga/">Winnona Park</a>
Middle:
<a title="Info & Test Scores for Renfroe Middle School" href="https://www.intownelite.com/atlanta-public-schools/renfroe-middle-school-homes-for-sale-decatur-ga/">Renfroe</a>
High:
<a title="Info & Test Scores for Decatur High School" href="https://www.intownelite.com/atlanta-public-schools/decatur-high-school-homes-for-sale-decatur-ga/">Decatur High</a>
In Dekalb County Public School district:
Elementary:
<a title="Info & Test Scores for Fernbank Elementary" href="https://www.intownelite.com/atlanta-public-schools/fernbank-elementary-school-homes-for-sale-atlanta-ga/">Fernbank</a>
<a title="Info & Test Scores for Montgomery Elementary" href="http://www.greatschools.org/georgia/atlanta/736-Montgomery-Elementary-School/" target="_blank">Montgomery</a>
<a title="Info & Test Scores for Oak Grove Elementary" href="http://www.greatschools.org/georgia/atlanta/764-Oak-Grove-Elementary-School/" target="_blank">Oak Grove</a>
<a title="Info & Test Scores for Robert Shaw Theme School" href="http://www.greatschools.org/georgia/scottdale/805-Robert-Shaw-Theme-School/" target="_blank">Robert Shaw</a>
<a title="Info & Test Scores for Wynbrooke Elementary" href="http://www.greatschools.org/georgia/stone-mountain/2587-Wynbrooke-Elementary-School/" target="_blank">Wynbrooke</a>
Middle:
<a title="Info & Test Scores for Chamblee Middle School" href="http://www.greatschools.org/georgia/chamblee/3792-Chamblee-Middle-School/" target="_blank">Chamblee</a>
<a title="Info & Test Scores for Dekalb Path Academy" href="http://www.greatschools.org/georgia/atlanta/3634-Dekalb-Path-Academy-Charter-School/">Dekalb Path Academy</a>
<a title="Info & Test Scores for Kittredge Magnet School" href="http://www.greatschools.org/georgia/atlanta/800-Kittredge-Magnet-School/" target="_blank">Kittredge Magnet</a>
<a title="Info & Test Scores for Wadsworth Magnet School" href="http://www.greatschools.org/georgia/decatur/6362-Wadsworth-Magnet-School-For-High-Achievers/" target="_blank">Wadsworth Magnet</a>
High:
<a title="Info & Test Scores for Chamblee Charter High School" href="http://www.greatschools.org/georgia/chamblee/745-Chamblee-Charter-High-School/" target="_blank">Chamblee Charter</a>
<a title="Info & Test Scores for Lakeside High" href="http://www.greatschools.org/georgia/atlanta/770-Lakeside-High-School/" target="_blank">Lakeside</a>
For a comprehensive guide on Atlanta schools, <a title="Schools" href="https://www.intownelite.com/resources/schools/">click here</a>.2011-08-31T18:56:00-07:002017-04-08T07:08:39-07:00Intown Elitetag:intownelite.com,2012-09-20:1231Yet another reason why neighborhoods matterOf course we all know that neighborhoods are important for many reasons; friendly neighbors, community support, etc. And we all know there are many reasons to choose a particular neighborhood; location, style, affordability, etc. However, from the perspective of your wallet, there's another important benefit the right neighborhood can provide; price stability.
<img class="img_box_left" title="Neighborhood houses" src="https://assets.site-static.com/userfiles/559/image/Neighborhood-houses-300x200.jpg" alt="" width="300" height="200" />A recent study by the Joint Center for Housing Studies of Harvard University showed that higher-priced homes are less susceptible to bubbles than are lower-priced homes. Higher-priced homes don't appreciate as quickly in a run-up, but neither do they fall as quickly in a downturn. According to analysis of Standand & Poor's / Case-Shiller home price data, prices of lower end homes in Atlanta fell by nearly 50% from the 2007 peak to December 2010. The drop for higher-end homes fell by less than half that percentage. Of course, this is a macro look at the entire Atlanta metro area, in which "low tier" homes were qualified as those under about $122k and "high tier" homes were those above approximately $221k. You might extrapolate from this data that even higher-tier homes in desirable neighborhoods may have lost even less value since the 2007 peak. You'd be right. A quick check of the sought-after <a title="Intown Neighborhoods" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta neighborhood</a> of <a title="Morningside – Lenox Park" href="https://www.intownelite.com/intown-atlanta-real-estate/morningside-lenox-park-homes-for-sale-atlanta-ga/">Morningside</a> shows an average sale price of $668,952 in 2007. The average sale price in 2010 was $582,339, a 12.9% decrease from the peak. That's certainly a lot better than the national average. Checking the <a title="Buckhead Neighborhoods" href="https://www.intownelite.com/buckhead-real-estate/">Buckhead neighborhood</a> of <a title="Chastain Park" href="https://www.intownelite.com/buckhead-real-estate/chastain-park-homes-for-sale-atlanta-ga/">Chastain Park</a>, we see even more stable prices. The average sale in 2007 was $1,052,769 while in 2010 it was $1,005,636, a reduction of a mere 4.5%. (Source: FMLS) Whether these neighborhoods are in your price range or not, the principle remains the same all along the scale. So, the old adage remains: it's better to buy a so-so house in a great neighborhood than to buy a great house in a so-so neighborhood. And now we have the numbers to back that up.
Photo credit: woodleywonderworks on Flickr. CC License 2011-06-10T15:55:00-07:002016-07-23T12:55:53-07:00Intown Elitetag:intownelite.com,2012-09-20:12307 Mistakes to Avoid when Pricing your Home to SellIn our experience selling homes, we often find that a person's perception of their home's value often differs from the reality of the marketplace. There are number of reasons for this, from psychological factors to simple misconceptions about market value. In this article we will discuss these issues as well as how best to determine an accurate selling price.
Home Seller's Top 7 Pricing Mistakes:
<br />1.) Not being objective
One of the first explanations of the disconnect between real and perceived value is simply human nature. Outside of family, friends and pets, our home is quite possibly the most difficult thing in our lives to be objective about. We likely have more emotional connection to our home than only other inanimate object. Sure, some guys might claim it would be their car, truck, motorcycle, boat or flat-screen HDTV. But when you factor in the monetary investment that the home represents, that usually bumps the home into the number one position in importance. When looking at our own homes we tend to play up the positives and overlook the negatives. When looking at other people's homes, whether they be recently sold comparables, competing homes on the market, or homes one is considering purchasing, we tend to do the opposite. The goal is to try to view your home through the eyes of a prospective buyer. This is very difficult to do, so it's best to just look at the cold hard facts, i.e. the numbers. But what numbers? Where do you get them? How are they derived? We'll get more into that later.
2.) Depending on online home valuations
Previously we wrote about online home valuations, and how misleading they can be. They can be fun to play with, but they're simply not accurate. They can be off 25-30% or more, easily skewing the real value by hundreds of thousands of dollars in some cases. They're brain-dead number-crunching computers that don't know the Intown Atlanta market. You can read the full content of that article <a title="Online Home Valuations – Are They Any Good?" href="https://www.intownelite.com/online-home-valuations-they-any-good/">here</a>. So with that out the window, many homeowners turn to other methods to seek the real scoop? Here's where we often find misconceptions.
3.) Looking at asking prices verses sold prices<img class="img_box_right" title="HomeValues" src="https://assets.site-static.com/userfiles/559/image/HomeValues-300x225.jpg" alt="" width="300" height="225" />
Sellers often tell us their home is worth "X" because they "know the prices in the neighborhood." But they know what prices? Do the know the actual sold prices, or do they just know the asking prices? When asked how they know these prices, typically they answer that they pulled flyers of homes for sale, or that they searched their neighborhood for homes for sale online. Of course, all that tells you is the asking price. It should go without saying that asking prices can differ dramatically for selling prices. Consider that statistically, in current market conditions, half of the listings you see for sale fail to sell. Typically that means they were overpriced, (assuming the home was given the proper exposure and a reasonable time to sell). If no buyers in the marketplace wanted to buy a home at a given price, then by definition, the home is above market value. Then consider that many homes that do sell were sold for a price substantially lower than its asking price. Perhaps you pulled a flyer when the home was first listed, then the home sold months later after multiple price reductions. Even if you knew the last listing price, what you usually don't know is the sale price. Where can you find the prices at which a homes have actually sold? Hang on, we'll get to that.
4.) Believing the "He said, she said"
Another thing we hear is something like "I heard that home sold for X." Surely I don't need to point out the fallacy of pricing by the rumor mill, do I? You might think it's believable when it comes form a trusted source, but most home sellers are understandably private about the selling price of their home. If a nosey neighbor does ask, many (most?) home sellers, shall we say, embellish their selling price. The phrase "trust but verify" comes to mind.
5.) Depending on verbal advice without seeing the evidence.
Sometimes we hear, "An agent told me I could get X for my home." This is when I recall images of some TV lawyer objecting, "hearsay!"
hearsay | noun information received from other people that one cannot adequately substantiate; rumor Law - the report of another person's words by a witness, usually disallowed as evidence in a court of law
It doesn't matter what any person says, it only matters what the evidence says. Any time an agent offers an opinion on price, always ask to see the evidence - a comprehensive Comparative Market Analysis or CMA. It amazes me that many agents will give a price opinion without providing a CMA. Some agents may have the well-meaning but ultimately harmful human tendency to tell you what you want to hear, rather than the cold, hard facts. Other agents may have less scrupulous reasons for telling you what you want to hear - they just want to get your listing. But why would an agent want to list your home at a price where it wouldn't sell? A number of reasons:
a.) Competition. The agent may know (or think) that you are considering using another agent to list your home. They know many sellers will list with whoever tells them the highest price, which can be huge mistake for the seller. So an agent might tell you the high price so you'll select them versus the competition. This is a tactic known in the industry as "buying the listing." Their advice may change down the road after you've been listed with them a while and aren't generating any significant buyer activity.
b.) Buyer leads. Some agents will take an overpriced listing just for the buyer leads. From the marketing exposure of your house (online, yard sign, flyers, etc) an agent will get inquiries about the property. If those buyers decide your home is overpriced, the agent can then show them other listings. If the agent has given up on hope that your home will sell at it's current price, or that you will reduce your price to where it needs to be, the agent may still keep your house on the market as a way to get buyers for other listings! This is a terrible breach of the agent's fiduciary responsibility to the seller, but it happens.
c.) Advertising. Some agents just want as many of their signs in yards as possible. Everybody notices when a new "For Sale" sign goes up in their neighborhood. That's when you pull the flyer or go online to find the price, right? Fewer notice when the sign goes away.
Did you choose your agent because you saw their signs around your neighborhood? Did you follow-up on all of those listings and find out how many actually sold, and for what price? Probably not. Is this the same agent who gave you a price opinion without the evidence (CMA) to back it up? Hmmmm.
6.) Thinking that their re-fi appraisal shows true market value
We've also heard some sellers say, "I know my house is worth X, I have an appraisal!" Two questions always arise when I hear that; when was the appraisal done and for what purpose? Typically the appraisal was done for a refinance, and often it's already outdated. Although they're not supposed to, some appraisers tend to be a little more generous with their valuations if the appraisal is being done for a re-fi versus a purchase. Also, in a changing market, it's best if the comparable homes used in any valuation were sold within the preceding 6 months. Beyond that time period, they may not reflect current market conditions.
7.) Thinking that tax assessment value equals real market value
Some people will look at their property tax assessment and assume that value is actual market value. After all, in some counties it's actually labeled "Fair Market Value." However, in Atlanta, tax assessed values are notoriously inaccurate. I'm sure you've read multiple stories in the press where homeowners are appealing their tax assessments because they believe they are two high. In other cases, particularly when substantial renovations have been done, they can be too low. Tax assessors don't come out to each property and inspect both the internal and external factors when they come up with their assessments. Instead, the assessment is typically performed on desktop valuation software. Often, the value was set when the property was purchased, then blanket adjustments are applied to all homes in the area as time goes on while the property itself is never given a second look. The bottom line is, tax assessments are simply too unreliable to be used as a guide when pricing a home to sell. So, where can I get accurate pricing information? Well, one way is through your county tax records. While their tax assessments may be inaccurate, they do have on record the last price at which a given property has sold. The downside is that they typically are slow to update these records, so you may not be able to find the latest comps, and in a changing market, recency of data is key to accuracy.
comp | informal, noun real estate industry slang term, short for "comparables", meaning properties similar to the subject property that have recently sold
<img class="img_box_left" title="SOLD" src="https://assets.site-static.com/userfiles/559/image/SOLD-300x199.jpg" alt="" width="300" height="199" />A real estate agent who specializes in your neighborhood has access to more recent comps via the MLS system. An agent providing a CMA for your property should choose 4 to 6 similar properties which have sold, preferably within 6 months and within your neighborhood. Only when there are not enough similar homes have sold within that time period or neighborhood should comps outside of those guidelines be used. From that list of similar recently sold homes, adjustments can be made for differences between the comps and the subject property (your home) to establish a reasonable estimate of market value, and in turn, a list price which will get your home sold. Of course, no system is perfect, and any estimate of sales price is just that; an estimate, though hopefully an educated one. Though any agent can slap together a list of comps, accurate CMAs are difficult and take considerable time to produce. One complication is the great diversity of homes in the <a title="Intown Neighborhoods" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta</a> and <a title="Buckhead Neighborhoods" href="https://www.intownelite.com/buckhead-real-estate/">Buckhead neighborhoods</a>. The same variety that gives our neighborhoods their rich character also makes it difficult to pinpoint values. In a suburban "cookie cutter" neighborhood where most homes are very similar, it's easy to just take an average of recently sold homes. But in our neighborhoods, virtually no two homes are the same, making it difficult to make adjustments for intangibles. Another problem is that when looking at comps, one is always looking in the "rear view mirror" and it's difficult to accurately predict the short-term future of any market. The bottom line is, the market will determine the selling price. Part of our job, as your real estate consultant, is to estimate that price as closely as possible. To get a detailed CMA for your property, <a title="Home Seller Services" href="https://www.intownelite.com/sellers/free-market-analysis/">click here</a>.2011-04-14T13:34:00-07:002016-07-23T12:57:57-07:00Intown Elitetag:intownelite.com,2012-09-20:1229Atlanta Skyline Building GuideWe've received a number of complements on our recent website makeover, and we're flattered to hear that it's been so well received. A number of you have asked about the stylized skyline outline in the website header, and whether it really represents Atlanta. It does, in fact, and it was inspired by the photo below. This spawned questions about this building and that, which got us thinking - maybe we should put together a guide to the buildings of the Atlanta skyline. So here goes!
<area href="https://www.intownelite.com/#boa" title="Bank of America Plaza" shape="poly" coords="128,56,128,64,129,67,137,85,138,94,138,109,138,134,135,134,132,131,126,130,123,131,123,134,119,134,118,150,115,150,115,109,116,94,117,86,125,67,127,62,126,56" alt="Bank of America Plaza" />
<area href="https://www.intownelite.com/#att" title="AT&T Midtown Center" shape="poly" coords="146,99,151,99,166,99,169,99,169,131,167,131,167,129,160,123,155,122,148,129,148,130,146,130,145,130" alt="AT&T Midtown Center" />
<area title="2 Peachtree Street" shape="poly" coords="138,117,146,117,146,135,144,135,144,137,144,137,144,138,141,138,139,134,138,134" alt="2 Peachtree Street" />
<area href="https://www.intownelite.com/#1180peachtree" title="1180 Peachtree" shape="poly" coords="180,91,210,91,210,104,211,104,210,156,194,155,194,176,181,178,181,142,179,142,179,104" alt="1180 Peachtree" />
<area href="https://www.intownelite.com/#1100peachtree" title="1100 Peachtree" shape="poly" coords="160,123,167,129,167,131,169,131,169,136,172,136,172,142,158,141,159,139,143,139,144,135,146,135,146,131,148,131,148,129,155,123" alt="1100 Peachtree" />
<area href="https://www.intownelite.com/#fourseasons" title="Four Seasons Hotel Atlanta" shape="poly" coords="251,101,251,102,254,105,254,108,252,108,251,111,249,111,249,115,246,115,246,119,244,119,244,152,240,152,240,159,238,158,238,122,239,114,240,111,241,108,243,105,244,105,248,102,248,101" alt="Four Seasons Hotel Atlanta" />
<area href="https://www.intownelite.com/#promenade" title="Promenade II" shape="poly" coords="261,91,261,96,262,96,262,100,263,100,263,104,266,104,266,107,268,108,269,111,271,111,271,115,274,115,273,119,276,119,276,181,243,171,244,119,246,119,246,115,249,115,249,111,251,111,252,108,254,108,255,104,257,104,257,100,258,100,259,96,259,96,260,91" alt="Promenade II" />
<area href="https://www.intownelite.com/#oneatlantic" title="One Atlantic Center" shape="poly" coords="344,73,344,76,345,76,345,80,353,92,353,94,356,94,357,101,355,166,353,167,353,177,345,176,330,175,330,101,331,96,332,94,334,94,334,92,342,80,342,78,342,76,343,74" alt="One Atlantic Center" />
<area href="https://www.intownelite.com/#westin" title="Westin Peachtree Plaza Hotel" shape="poly" coords="112,121,112,99,112,96,116,96,115,108,115,129,112,129" alt="Westin Peachtree Plaza Hotel" />
<area title="Equitable Building" shape="poly" coords="92,123,101,123,111,123,111,129,105,130,104,131,100,131,100,140,92,140" alt="Equitable Building" />
<area href="https://www.intownelite.com/#suntrust" title="SunTrust Plaza" shape="poly" coords="78,81,82,81,82,84,90,98,90,155,88,155,88,147,75,147,75,136,73,132,73,130,70,130,70,104,72,98,73,98,73,95,77,88,78,85" alt="SunTrust Plaza" />
<area href="https://www.intownelite.com/#191peachtree" title="191 Peachtree Tower" shape="poly" coords="73,98,71,101,70,104,70,130,48,130,49,101,50,101,50,99,52,96,52,92,58,91,58,97,60,98,61,100,62,100,63,98,65,97,65,92,71,92,71,97,71,98" alt="191 Peachtree Tower" />
<area href="https://www.intownelite.com/#marriott" title="Atlanta Marriott Marquis" shape="poly" coords="6,117,36,117,35,154,12,154,12,152,6,152" alt="Atlanta Marriott Marquis" />
<a href="http://www.flickr.com/photos/13331510@N00/355135172/" target="_blank" rel="nofollow"><img class="thumbimage " usemap="#ImageMap_1_1289468030" src="https://upload.wikimedia.org/wikipedia/commons/thumb/a/a7/Atlanta_Skyline_from_Buckhead.jpg/400px-Atlanta_Skyline_from_Buckhead.jpg" alt="Atlanta Skyline from Buckhead by Chuck Koehler" width="400" height="201" /></a>
Mouse over the photo to see the names of the most prominent buildings. Click on a building to jump to its description. Click elsewhere on the photo to visit the photographer's page on flickr.
<br /><a name="marriott"></a>Atlanta Marriott Marquis
Designed by preeminent Atlanta architect John C. Portman and completed in 1985, this Marriott hotel building is the 14th-tallest skyscraper in Atlanta. Known as "the pregnant building" due to it's bulging base, at the time of completion its atrium was the largest in the world at 470 feet high.
<br /><a name="191peachtree"></a>191 Peachtree Tower
This 50-story building was completed in 1990, and at 770 feet high, currently stands as Atlanta's 4th tallest skyscraper. The building was designed by Johnson/Burgee and Kendal/Heaton Asssociates, Inc. and won several awards in subsequent years. The facade is finished with Rosa Dante Granite and the distinctive illuminated "double crown" atop the building figures prominently in the Atlanta skyline.
<br /><a name="suntrust"></a>SunTrust Plaza
At 869 feet and 60 stories, the SunTrust building is the second tallest in Atlanta. Another design by the prolific John C. Portman, it was completed in in 1992 as part of the Peachtree Center complex. The building was originally named One Peachtree Center, but later changed names when SunTrust Bank bought half of Portman's interest and moved their headquarters into the building.
<br /><a name="boa"></a>Bank of America Plaza
Located on the southern edge of <a href="https://www.intownelite.com/intown-atlanta-real-estate/midtown-atlanta-condos-and-homes-for-sale/" title="Midtown">Midtown</a> and towering to a height of 1,024 feet, the Bank of America building is the tallest in Georgia, the 6th tallest in the country, and 9th tallest in the world. It was completed in 1992 after only 14 months of construction. The open-lattice structure supporting the spire illuminates at night, and if that wasn't impressive enough, the spire is covered in 23-karat gold leaf.
<br /><a name="westin"></a>Westin Peachtree Plaza Hotel
Most everyone knows the Westin building, but fewer may know about the rich history of the site on which it was built. The first building at this location was the Governor's mansion, which stood there from 1870 to 1923. It was then razed for the Henry Grady Hotel. Later, that hotel was torn down as well as the neighboring Roxy Theater to make room for the Westin which was built in 1976. Another one of John C. Portman's designs, the 73-story, 723-foot tall tower was the tallest in Atlanta from its completion until 1987, when the IBM Tower (a.k.a. One Atlantic Center) was built.
<br /><a name="att"></a>AT&T Midtown Center
Following the history of the company, this building was formerly the Southern Bell Center, then the BellSouth Center before taking it's current name. This 47-story, 677-ft tall building was completed in 1982. The building is part of a complex which includes two adjacent mid-rise buildings, and has direct access to the North Avenue MARTA rail station. While perhaps not as flashy as some of the other buildings in Atlanta's skyline, they do illuminate all four corners of the building in changing colored lights during holidays and special occasions.
<br /><a name="1100peachtree"></a>1100 Peachtree
While, at 28 stories and 428 feet, it's not one of the tallest buildings in Atlanta, 1100 Peachtree is especially striking at night. The crown is an octagonal stair-step shape which lights up beautifully at night. Of course, critics might say it's just another of the "illuminated wedding cake" designs that seemed to be so popular in the early 1990s.
<br /><a name="1180peachtree"></a>1180 Peachtree
Making a dramatic break from the wedding cake design is 1180 Peachtree, a new addition to the Midtown Atlanta skyline. This 657-foot office and retail building was completed in 2006, and achieved the<a title="LEED - Green Building Council" href="https://www.intownelite.com/green-homes-in-atlanta/#GreenBuilding"> Leadership in Energy and Environmental Design (LEED)</a> gold certification. Two elliptically-curved glass fins extend upwards from the north and south walls, which gives the building a stunning uniqueness, especially noticeable at night. The building is intended to accompany the forthcoming Atlanta Symphony Center, proposed by the Woordruff Arts Center. As such, the building is also known as Symphony Tower, but we tend to call it the "<a title="Tweezer Building" href="http://www.flickr.com/photos/44124573@N00/4159237650/" target="_blank" rel="nofollow">tweezer building</a>", based on it's appearance from the east or west.
<br /><a name="fourseasons"></a>Four Seasons
Located at 75 14th Street in Midtown, this building is home to the five-star Four Seasons Hotel Atlanta. Yet another skyscraper completed in 1992, this one is Atlanta's 9th largest. The building is cladded in marble and rose granite, and is a product of Swedish developer G. Lars Gullstedt. But not only does this building house the Four Seasons Hotel, it's also home to luxury condos known as <a href="https://www.intownelite.com/atlanta-condos-for-sale/above-the-four-seasons-75-14th-street-ne-atlanta-ga-30309/" title="Above The Four Seasons (High Rise)">Above the Four Seasons</a>.
<br /><a name="promenade"></a>Promenade II
One of the most visibly notable buildings in Midtown is the 40-story Promenade II. Another product of Atlanta's early 90's commercial building spree, this 691-foot tall office building is the 7th tallest in Atlanta. Like the Bank of America building, this skyscraper is set at a 45-degree angle to the street, which improves views for its tenants and increases its impact on the skyline. Like the SunTrust Plaza building, Promenade II features reflective glass and steel and ziggurat-like stepping crown on top. Promenade II was originally planned as part of three similar buildings, one smaller and one taller. However, the market downturn which occurred shortly after its completion scrapped those plans.
<br /><a name="oneatlantic"></a>One Atlantic Center
The last building in this lineup was actually the first high-rise of the Midtown business district. Completed in 1987 as the southeastern headquarters of IBM, this building is commonly known as IBM Tower. The success of this building, which quickly attracted corporate tenants, no doubt fueled the building boom in Midtown. At 50 stories and 820-feet, this was the tallest building in Atlanta until overtaken by the Bank of America building. The exterior facade is finished with pink Spanish granite, capped with a copper pyramid and topped with a gold spire. Four years later, its shorter sibling Two Atlantic Center was built with similar gothic design accents. That wraps up our overview of many of the most prominent buildings that makeup the Atlanta skyline. Of course this is not an exhaustive list, and as a residential real estate brokerage, we would be remiss not to mention the many condominiums that contribute to Atlanta's skyline. There are several high-rise condo buildings, especially in <a href="https://www.intownelite.com/intown-atlanta-real-estate/midtown-atlanta-condos-and-homes-for-sale/" title="Midtown">Midtown</a> and <a href="https://www.intownelite.com/buckhead-real-estate/" title="Buckhead Neighborhood Guide Map">Buckhead</a>. But that's a subject for another blog post. Check back later and we'll have a full run-down of all the high-rise condo buildings in Atlanta.
photo by Chuck Koehler. CC License.2011-01-23T14:52:00-07:002016-07-23T13:00:03-07:00Intown Elitetag:intownelite.com,2012-09-20:1228Online Home Valuations - Are They Any Good?When it comes to selling your home, there are many facets to consider. The timing of your move, prepping your home, how to market your home and countless other considerations. One might say, however, that the most important consideration is setting the listing price. In our experience, we have found that many sellers use flawed assumptions when determining their listing price. WIth this post, we begin a series of articles on the topic of pricing your home for sale.
There are many options one can use to help determine the value of a home. One option that has become more popular lately is the so-called "online valuation." There are several websites, (such as Zillow, HouseValues, etc.) which claim the ability to determine the value of your home. So, how do they work, and are they any good?
These online valuation sites fall into two basic categories. The first category of sites are those that use a mathematic algorithm to calculate a value for your property. The problem with this method can be distilled into an acronym well-known in the computer industry: GIGO, or Garbage In, Garbage Out. This means that incorrect or poor quality input will always produce a faulty result. The "garbage in" stems from the data that is used in the calculations. Where do they get this information? Well, typically they use publicly-available information, such as tax records. The problem with that is, tax records are notoriously outdated and inaccurate, especially in Atlanta.
<img class="img_box_right" title="HomeValues" src="https://assets.site-static.com/userfiles/559/image/HomeValues-300x225.jpg" alt="" width="300" height="225" />Another problem is that the homes in Intown Atlanta neighborhoods are not homogeneous. These are not the cookie-cutter neighborhoods of the suburbs, where many houses are virtually identical. It's fairly easy to determine value in a neighborhood where all the homes were built by the same builder, in the same year, and where one in five of them have the exact same floor plan. Just find a number of recent sales and take an average. Of course, that does not describe Intown Atlanta or Buckhead neighborhoods.
What makes <a href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta</a> and <a href="https://www.intownelite.com/buckhead-real-estate/">Buckhead</a> homes appealing is the same thing that makes it difficult to determine their value - they're all different! Two houses that may look identical to a computer may be dramatically different in reality and have dramatically different values. The public records may show two houses that were both built in the 1940s, each with two bedrooms, one bathroom and 1,400 square feet of living space. And perhaps that's still true for "house A," but maybe the owners of "house B" have expanded out the back and added a second story addition. Now it's a four-bedroom, three-bath home with top-of-the-line renovations. While the "comparable" house sits untouched. The public records should have been updated, but all too often they are not. So, the home valuation website assigns both homes the same value.
Sure, that's a dramatic example, but even smaller differences can have a big impact on value. Yes, some of these sites allow you to adjust for differences in your property, but that does nothing to make up for erroneous information about the so-called comparable properties. On a home that should be priced in the $400's, I have seen valuations from these sites that are off by well over $100k in either direction. That's 25 percent off!
But don't take my word for it. <a href="http://www.zillow.com/blog/jennifer-lopez-sells-bel-air-home/2009/12/28/" target="_blank">Here's a post</a> from Zillow's own blog discussing the sale of Jennifer Lopez's house. The property sold for $7.5 million, while Zillow’s "Zestimate" was under $6 million. So, Zillow was off by a mere $1.5 million. Sure, that may be hard to grasp for us Regular Joe's, but apply a 20 percent error to your house and what do you get? Let’s bring this closer to home. I pulled a list of homes that have recently sold in our area of specialty, roughly a 5-mile radius from the Brookwood Split. I pulled out three sales at random and compared their recent sold prices to their current Zillow Zestimate. Here’s what I found:
1745 North Pelham Road in <a href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/morningside-homes-for-sale/">Morningside</a>, sold on 09/02/2010 <br />Sold price: $722,500 <br />Zillow Zestimate: $601,000
805 Amsterdam Avenue in <a href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/virginia-highland-homes-for-sale/">Virginia Highland</a>, sold on 01/21/2010 <br />Sold price: $530,000 <br />Zillow Zestimate: $647,000
309 North Garden Lane in <a href="https://www.intownelite.com/neighborhoods/buckhead-real-estate/loring-heights-homes-for-sale/">Loring Heights</a>, sold on 08/18/2010 <br />Sold Price: $525,000 <br />Zillow Zestimate: $372,000
And these are not isolated cases. Here's <a href="http://agentgenius.com/real-estate-news-events/denver-named-second-worst-selling-market-zillow-data-questioned/" target="_blank">another blog post</a> detailing the debacle that occurred when Forbes.com used Zillow as the source for their article on the "Ten worst real estate markets." Zillow's erroneous data caused Forbes.com such embarrassment that they had to <a href="http://www.forbes.com/2010/04/22/story-taken-down-lifestyle-real-estate.html" target="_blank">retract the article</a>. Forbes has since ceased using Zillow for their real estate data.
Then there's the second category of online valuation sites. These sites lure you in, having you fill out information about your home, giving you the impression that they're about to magically and instantly tell you the value of your home. Then, after you submit all of this personal information over the internet, they tell you a real estate agent will contact you. You see, these sites are actually in the business of selling "leads" to real estate agents. After you put in your personal information, they contact an agent on their list and say, "Hey agent, John Doe wants to know his house value. Maybe he wants to sell. We'll sell you his contact information for a fee, and you can try to get him as a seller client."
I'm sure you know by now that I'm about to tell you that using a real estate agent or broker is the best way to determine your home's value. So if this website is going to set you up with a real estate agent, what's wrong with that? Well, maybe nothing. But how well do you know the agent they're selling the lead to? Does he or she have any real knowledge about your neighborhood? Has this agent ever even been in your neighborhood? The valuation website employee may be sure to put you in contact with an agent who has listed "Atlanta" as part of his or her service area. But Metro Atlanta is huge, expanding far Outside the Perimeter (OTP). For example, an agent who normally works in Marietta, but buys a lead in Virginia-Highland may not realize the extent to which homes in Virginia Highland can differ from each other. If that agent applies his or her standard pricing method used when pricing homes in the suburbs, the valuation could be way off. Obviously, that can have a real impact on properly pricing your home and ultimately selling.
There's no substitute for local market knowledge. There’s simply no way to be an expert in all of Atlanta. It’s just too big. If you have an Intown home, your best bet is to use an Intown agent. And since you're reading our blog, you've already found one! If you'd like to contact us about selling your home, feel free to call us at 404.478.7800 ext. 2. Or <a href="https://www.intownelite.com/sellers/">click here</a> fill out out the contact form, and we'll get right back to you!2010-10-18T19:18:00-07:002016-07-23T17:59:57-07:00Intown Elitetag:intownelite.com,2012-09-20:1227Ansley Park Tour of Homes this weekendAtlanta’s historic Ansley Park neighborhood, known for its winding streets, beautiful parks and stunning architecture, kicks off its tour of homes this weekend. Developed in 1904, Ansley Park is one of Atlanta’s first suburban neighborhoods and is listed on the National Register of Historic Places.
<a href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/ansley-park-homes-for-sale/"><img class="img_box_left" title="Ansley Park Homes" src="https://assets.site-static.com/userfiles/559/image/AnsleyPark-300x200.jpg" alt="Ansley Park neighborhood" width="300" height="200" /></a> Ansley Park Neighborhood Entrance Marker This year’s tour will celebrate J. Neel Reid (1885-1926), one of the South’s premier architects. Reid played an instrumental role in the design and development of many Ansley Park residences. Six single-family homes and two condominium buildings designed by Reid will be featured on the tour. Showcased on the tour will be unit #3 at One South Prado. This is where Margaret Mitchell, author of Gone with the Wind, lived the last 10 years of her life. Legend has it that Mitchell ordered the original manuscript for Gone with the Wind burned in the boiler room of One South Prado upon her death. The Ansley Park Tour of Homes will kickoff with a party on Friday, October 1, at the Piedmont Driving Club. Tickets are $125 per person. Guests will enjoy cocktails, a tour of the Driving club, a viewing of Ansley Park home portraits by artist Gilbert Young and a chance to meet William R. Mitchell, Jr., author of the book J. Neel Reid Architect of Hentz, Reid & Adler. The Tour of Homes will take place on Saturday and Sunday, October 2nd and 3rd, from 12:00 pm to 5:00 pm. Tickets are $20 in advance, and $25 on the day of the Tour. In addition to the Tour of Homes, “A Cultural Landscape Tour,” will be directed by landscape architect, Spencer Tunnell, a key principal in the restoration of the Olmsted Parks in Atlanta’s Druid Hills neighborhood. He’ll be in Winn Park at 2:00 on Saturday and Sunday to lead a walk, while discussing the cultural landscape of Ansley Park. For tickets and more information, click on <a title="Ansley Park Tour of Homes" href="http://www.ansleypark.org/tourofhomes2010/index.htm" target="_blank">Ansley Park Tour of Homes</a>. To learn more about the Ansley Park neighborhood and view all the homes for sale, click on <a title="Ansley Park real estate" href="https://www.intownelite.com/intown-atlanta-real-estate/ansley-park-homes-for-sale-atlanta-ga/">Ansley Park homes for sale</a>.2010-09-28T20:44:00-07:002016-07-23T18:03:27-07:00Intown Elitetag:intownelite.com,2012-09-20:1226Square footage and Atlanta real estateOne of the most popular criteria home buyers have traditionally used when searching for a home is square footage. Until very recently, out-of-state or new-in-town home buyers looking for homes in Atlanta found themselves dismayed at the inability to search by square footage.
<a href="https://www.intownelite.com/atlanta-homes/"><img class="img_box_right" title="Square Footage" src="https://assets.site-static.com/userfiles/559/image/sqft1.png" width="265" height="642" style="margin: 5px 10px; float: left;" /></a>Yes, as absurd as it seems, it had been a long-standing policy of the local Multiple Listings Service (MLS) in Atlanta to prohibit the quoting of square footage in property listings. It was explained to me that this was to protect the agents from liability. Sure, there have been cases in the past where the buyer found out later that the square footage was not as quoted in the listing, and sued the agent. However, most markets throughout the country easily solved this with a simple disclaimer, something like "Information deemed reliable but not guaranteed." Also, most Purchase and Sale Agreements are written such that it's the buyer's responsibility to inspect, survey, appraise and measure the property during the Due Diligence period. (The measurement is usually done by the appraiser.) But even though the local MLS's implemented such disclaimers on general listing information, they still persisted with the ban of square footage information. Until now. Recently, the primary Multiple Listing Service used by Intown Atlanta real estate agents, FMLS, began to allow square footage information. For whatever reason, they did this initially on condos only, but now they have finally allowed it on single-family homes as well.
Still wary of a litigious society, they require that the source for the square footage information is included in the listing. Only three approved sources are allowed: tax records, appraisal, or the builder. Keep in mind, that tax records are not always accurate. Many older homes in <a title="Buckhead Neighborhood Guide Map" href="https://www.intownelite.com/buckhead-real-estate/">Buckhead</a> and <a title="Intown Neighborhood Guide Map" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta</a> have been renovated an expanded over the years, and often the tax records don't reflect that, but at least the information is now available to the home buyer.<a href="https://www.intownelite.com/atlanta-homes/"> </a> However, many Atlanta real estate brokers' and agents' websites don't seem to have gotten the word. Most local real estate websites have the same property search function they had before, the ones that don't even have the option to search by square footage. But, lucky for you, you're on IntownElite.com! Our advanced property search allows you to search by multiple criteria, including square footage. When you go to our property search, you'll see the basic options for price, bedrooms and bathrooms are open and ready for your input. Other criteria fields are closed by default, but you can open up whichever options you'd like to use. Once you've entered your preferences, you can just click the "Results" tab on top or the "Search" button on the bottom. Let us know if you need any help, or if you would like us to help you in your home search. Happy house hunting!2010-08-26T14:30:00-07:002016-07-23T20:47:28-07:00Intown Elitetag:intownelite.com,2012-09-20:1225Atlanta Lingo - How to Speak Like a LocalNew to Atlanta? Don't worry...it seems like almost everyone in Atlanta is from somewhere else! This diversity of backgrounds is one of the things that makes Atlanta great. If you don't want everyone to know you're new in town, you may want to familiarize yourself with some of the terms below.
<a href="https://assets.site-static.com/userfiles/559/image/Midtown-Traffic_opt.jpg" rel="prettyPhoto"><img class="img_box_left" title="Midtown Traffic" src="https://assets.site-static.com/userfiles/559/image/Midtown-Traffic_opt-200x300.jpg" alt="Midtown Atlanta" width="200" height="300" /></a>
Traffic Terms:
Brookwood Split: Where I-75 and I-85 split heading northbound, in the vicinity of the neighborhoods of <a title="Brookwood Hills" href="https://www.intownelite.com/neighborhoods/buckhead-real-estate/brookwood-hills-homes-for-sale/">Brookwood and Brookwood Hills</a>, forming the south boundary of <a title="Buckhead Neighborhood Guide Map" href="https://www.intownelite.com/neighborhoods/buckhead-real-estate/">Buckhead</a>.
Cobb Cloverleaf: Intersection of I-75 and I-285 on the northwest side of town, in Cobb County.
Downtown Connector: The section of highway where I-75 and I-85 join as one and pass through downtown. Often shortened to simply, "The Connector."
East Freeway: Another name for I-20 from downtown through the east side of metro Atlanta.
Financial Center Tunnel: Section of Georgia 400 that passes under the Atlanta Financial Center, in Buckhead.
Freedom Parkway: Parkway running from the Downtown Connector to Ponce de Leon Avenue.
Friday 500: A reference to Friday's worse-than-usual evening rush hour which seems resemble a NASCAR race.
Grady Curve: Giant curve in the Downtown Connector, near Grady Hospital, tends to slow traffic when heavy.
Inner Loop: The inside lanes of I-285, heading east on the top end and west on the South-side.
Langford Parkway: Formerly called Lakewood Freeway, this road runs west from the Downtown Connector to I-285 and then becomes Campbellton Road.
Northwest Expressway: I-75 from downtown through the northwest side of metro Atlanta.
Outer Loop: The outside lanes of I-285, heading west on the top end and east on the Southside.
Perimeter: I-285. Like the Beltway in Washington, this ring around Atlanta tends to be an unofficial demographic marker, separating the intowners from the suburbanites.
Spaghetti Junction: The intersection of I-85 and I-285 on the northeast side of town. To be avoided if at all possible!
Top End Perimeter: The northern segment of I-285 between I-75 to I-85, the most congested part of the Perimeter.
West Freeway: Another name for I-20 from downtown through the west side of metro Atlanta.
Abbreviations & Acronyms:
AJC: Atlanta Journal-Constitution, the largest newspaper in town.
EAV: You may have seen these stickers on cars around town. It stands for East Atlanta Village, a hip shopping and dining district in <a title="East Atlanta" href="https://www.intownelite.com/intown-atlanta-real-estate/east-atlanta-homes-for-sale/">East Atlanta</a>.
HERO: Highway Emergency Response Operator. Operated by the Georgia DOT, HERO units travel metro Atlanta roads to clear the roads following traffic incidents to restore normal traffic flow. L5P: Shorthand for Little Five Points. (See below.)
MARTA: Metropolitan Atlanta Rapid Transit Authority. Most often used to reference Atlanta's train/subway system, but technically includes the public bus lines, too.
OTP: "Outside The Perimeter." Derisive term intowners use to describe everything outside of I-285, i.e., "the 'burbs."
VaHi: Shorthand for <a title="Virginia-Highland" href="https://www.intownelite.com/intown-atlanta-real-estate/virginia-highland-homes-for-sale-atlanta-ga/">Virginia-Highland</a>.
Locations and other Nicknames:
Five Points: Used to be the center of downtown, where the city's five biggest streets converged. Now it's better known as the city's biggest MARTA station, where the East-West and North-South lines converge. You may pass through this site often, on your way to or from sports or music events. Not to be confused with Little Five Points. (Defined below.)
Little Five Points: A bohemian area of Intown Atlanta, sometimes called Atlanta's answer to New York's Greenwich Village. Located on the corner of Moreland and Euclid/McLendon, between <a title="Inman Park" href="https://www.intownelite.com/intown-atlanta-real-estate/inman-park-homes-for-sale-atlanta-ga/">Inman Park</a> and <a title="Candler Park" href="https://www.intownelite.com/intown-atlanta-real-estate/candler-park-homes-for-sale-atlanta-ga/">Candler Park</a>.
The Highlands: Informal (and incorrect) reference to <a title="Virginia-Highland" href="https://www.intownelite.com/intown-atlanta-real-estate/virginia-highland-homes-for-sale-atlanta-ga/">Virginia-Highland</a>. (Note the lack of an "s".)
The Hooch: The Chattahoochee river. A popular activity is to "Shoot the Hooch", which is to tube, raft, canoe or kayak down the Chattahoochee river.
The Phil: Phillips Arena, home to the Hawks, Thrashers and various concerts & other events.
The Ted: Turner Field, where the Braves play.
Did we miss anything? If you have any comments, submissions, corrections or suggestions, please let us know!
Photo courtesy of Laura Miller2010-07-29T11:51:00-07:002016-07-23T20:50:09-07:00Intown Elitetag:intownelite.com,2012-09-20:1241Virginia-Highland Summerfest this weekendWell, we've had a fun bunch of festivals this spring, and now the Spring Festivals are over. But don't despair, now it's time to celebrate the beginning of summer at this weekend's Virginia-Highland Summerfest! This is one of Intown Atlanta's best festivals, and includes a little something for everyone.
<a href="https://www.intownelite.com/intown-atlanta-real-estate/virginia-highland-homes-for-sale-atlanta-ga/"><img title="Virginia-Highland" src="https://assets.site-static.com/userfiles/559/image/VaHi.jpg" alt="Virginia-Highland" width="287" height="192" style="float: left; margin: 5px 10px;" /></a> There will be the usual juried artist market featuring works from over 200 artists in various media, as well as lots of live music. Runners can enter a 5K race on Saturday morning, after which parents can bring their 5-and-under kids to the "Tot Trot" at the Inman Middle School field.
The festival is held on Virginia Avenue between North Highland Avenue and Park Drive in the popular <a title="Virginia-Highland real estate" href="https://www.intownelite.com/intown-atlanta-real-estate/virginia-highland-homes-for-sale-atlanta-ga/">Virginia-Highland neighborhood</a> of <a title="Intown Atlanta Neighborhoods" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta</a>. Admission is free and open to the public for the events on Saturday and Sunday, but there are some festivities on Friday that are reserved exclusively for Virginia-Highland residents. These include a quirky parade (6:30pm) where residents dress up as their favorite movie character, followed by a dinner and an outdoor movie (8:30pm).
Another great attraction is the Neighborhood Acoustic Street Party at "Virginia-Highland Island" (Virginia Ave & N.Highland Ave) on Friday (8 to 11pm) and Saturday, June 5 (9 to 11pm). For a break-down of all the events and activities, <a title="Virginia-Highland Summerfest" href="http://vahi.org/summerfest/" target="_blank">click here</a>.
Be safe and have fun!2010-06-02T14:21:00-07:002016-07-23T20:52:13-07:00Intown Elitetag:intownelite.com,2012-09-20:1240Another Four Intown Atlanta Festivals this weekendThe Spring Festival season is not over yet, with more coming this weekend. Several <a title="Intown Neighborhood Guide Map" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta neighborhoods</a> are holding events this weekend, including <a title="Brookhaven" href="https://www.intownelite.com/buckhead-real-estate/brookhaven-homes-for-sale-atlanta-ga/">Brookhaven</a>, <a title="Downtown" href="https://www.intownelite.com/intown-atlanta-real-estate/downtown-atlanta-condos-and-lofts-for-sale/">Downtown</a>, <a title="Kirkwood" href="https://www.intownelite.com/intown-atlanta-real-estate/kirkwood-homes-for-sale-atlanta-ga/">Kirkwood</a> and <a title="Virginia-Highland" href="https://www.intownelite.com/intown-atlanta-real-estate/virginia-highland-homes-for-sale-atlanta-ga/">Virginia-Highland</a>.
<a href="https://assets.site-static.com/userfiles/559/image/25156_1444285465256_1176705231_31330775_31850_n.jpg"><img class="img_box_left" title="Spring in Atlanta" src="https://assets.site-static.com/userfiles/559/image/25156_1444285465256_1176705231_31330775_31850_n.jpg" alt="" width="300" height="199" /></a>The event in Brookhaven this weekend is not a festival per-se, but a 5k run/walk/stroll through beautiful Ashford Park. Dubbed the <a title="Brookhaven Bolt" href="http://www.brookhavenbolt.com/" target="_blank">Brookhaven Bolt</a>, the $20 entry fee gets you a commemorative T-Shirt, and the proceeds go to help the Ashfor Park Elementary School. Also part of the event is the Kids Fun Run, a 1/2 mile run/walk for children 13 and under.
Downtown Atlanta hosts the <a title="Georgia Kite Festival" href="http://www.georgiakitefestival.com" target="_blank">Georgia Kite Festival</a> in Centennial Olympic Park. In addition to the attraction of a myriad of fun kite designs flying over the park, there is also a Sound Stage with performances by musicians of various genres. The free festival also features is The Kidz Zone, where kids 3 to 12 can enjoy face painting, clowns, kite coloring and other games, and The Kite Construction Corner where children and adults can learn the basics of kite making.
Also this weekend is the <a title="Kirkwood Spring Fling" href="http://www.kirkwoodfling.com" target="_blank">Kirkwood Spring Fling</a>, a festival, 5k race and Tour of Homes. The festival includes an artist market, live music and plenty of food and beverages. The kid's area will be under the shade of the Urban Tree House, a unique structure in the shape of the United States. The Tour of Homes includes 8 homes with <a href="https://www.intownelite.com/atlanta-homes-by-style/victorian-homes-for-sale-atlanta-ga/">Victorian</a>, <a href="https://www.intownelite.com/atlanta-homes-by-style/craftsman-homes-for-sale-atlanta-ga/">Craftsman</a>, Greek Revival and Classic <a href="https://www.intownelite.com/atlanta-homes-by-style/bungalow-homes-for-sale-atlanta-ga/">Bungalow</a> styles represented.
Last on this alphabetical list is the 8th annual <a title="Taste of the Highlands" href="http://www.tasteofthehighlands.com/" target="_blank">Taste of the Highlands</a>. Held at John Howell Park in Virginia-Highland, this celebration of food and beverage benefits Children's Healthcare of Atlanta. The festival, featuring tastings provided by nearly two-dozen neighborhood restaurants, also includes live musical performances.
Photo courtesy of Laura Miller 2010-05-12T05:33:00-07:002016-07-23T20:59:33-07:00Intown Elitetag:intownelite.com,2012-09-20:1224More festivals this weekendThere are more festivals in Intown Atlanta this weekend. Today and tomorrow is the <a href="http://www.sweetauburn.com/" target="_blank">Sweet Auburn Springfest</a> celebrating this historic district in Downtown Atlanta. In the 1940s, '50s and '60s, successful African-American-owned businesses and entertainment venues thrived on Auburn Avenue.
The festival is produced to support the business development, branding and marketing of the district. Major projects are envisioned, including transforming the Auburn Avenue viaduct into an outdoor international music café and arts and craft market, and establishing Auburn Avenue as the Beale Street / Bourbon Street / Church Street Station of Atlanta.
Festival attendees can enjoy several attractions including an Artist Market, Business and Technology Expo, a Health and Fitness Fair, an Active Senior's Pavilion, Sports Carnival, a Literary Marketplace, Just For Women’s EXPO and the Kids Fantastic Fun Zone. Live music performances will be held on eight different stages.
Another celebration of a different historic district is the <a href="http://www.atlantawestfest.com/" target="_blank">Atlanta West Fest</a>, in the West End. Attractions include a benefit concert at the <a href="http://www.wrensnestonline.com/" target="_blank">Wren's Nest</a>, a festival in Gordon-White park, and West Fest's first annual dog parade. For those of us with real estate on our minds, there is a tour of 10 historic homes, many of which are over 100 years old.
Tonight and tomorrow night are the last nights to catch <a href="http://www.gashakespeare.org/" target="_blank">Georgia Shakespeare's</a> popular "Shake at the Lake". "A Midsummer Night's Dream" will be presented overlooking Lake Clara Meer in Piedmont Park in <a href="https://www.intownelite.com/intown-atlanta-real-estate/midtown-atlanta-condos-and-homes-for-sale/" title="Midtown">Midtown</a>.
The performance is free, but you'll need tickets (well, actually wristbands). Around 900 wristbandswill be available starting at 10am the morning of each performance. Wristbands can be picked up at the Piedmont Park Visitors Center or at the Georgia Shakespeare box office at Oglethorpe University.
Have fun this weekend, and we'll be posting again soon about next weekend's <a title="Intown Atlanta Neighborhood Guide" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta</a> activities.2010-05-05T07:25:00-07:002016-07-23T21:36:58-07:00Intown Elitetag:intownelite.com,2012-09-20:1223Living in Intown Atlanta is GreenToday is Earth Day, which seems like a fitting day to discuss ways to "be Green". Well, one of the simplest ways to do this is to live closer to the core of a city. Yes, living Intown is Green, in several ways.
<a href="https://www.intownelite.com/green-homes-in-atlanta/"><img class=" " title="Intown Atlanta Skyline" src="https://assets.site-static.com/userfiles/559/image/atlantaskyline.jpg" width="304" height="213" style="float: left; margin: 5px 10px;" /></a>The most obvious reason is that urban sprawl leads to long daily commutes, which leads to more automobile exhaust. Even though we make a living by putting people in our cars to show them properties for sale, our suburban friends are shocked out how few miles we put on our cars compared to theirs. The fact is, the overwhelming majority of our trips are well within a 5-mile radius of home.
Though you might think that a green oasis should be just that, lush with greenery, Manhattan may be one of the greenest places in the country, as ironic as that may sound. The carbon footprint of the average Manhattanite is thirty percent smaller than that of the average American. With nearly two-thirds of the population walking, biking or riding mass transit to work, the rate of car ownership in Manhattan is the lowest in the country.
Of course, with Atlanta's limited mass transit system, it's hard to compare us with New York City. However, if you live and work in <a title="Intown Neighborhood Guide Map" href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/">Intown Atlanta</a> you'll use your car less without even thinking about it. We can walk to grocery stores and restaurants from our home. Even if we decided to drive everywhere we went, everything is so close and convenient that we drive far fewer miles than our friends who live in the suburbs.
Also, large apartment or condo buildings are more efficient to heat and cool than single-family homes. There are tons of <a title="Midtown" href="https://www.intownelite.com/intown-atlanta-real-estate/midtown-atlanta-condos-and-homes-for-sale/">Midtown Atlanta condos</a> available at very attractive pricing right now. That's not to say that you can't have an energy-effecient single-family home. Thanks to several <a href="https://www.intownelite.com/green-homes-in-atlanta/#GreenBuilding">green building initiatives</a> throughout Intown Atlanta several <a title="Green Homes in Atlanta" href="https://www.intownelite.com/green-homes-in-atlanta/">green homes</a> can be found.
Though they may have us beat on mass transit, there's one reason why living in Atlanta is more green than Manhattan or other northern cities. That's the simple fact that cooling a home emits less CO2 than heating that same home. When it's freezing outside, one needs to raise the indoor temperature by roughly 40 degrees to achieve comfort. But when it's 100 degrees outside, one needs only to lower the indoor temperature by 30 degrees to achieve the same level of comfort. It turns out that heating the country in the winter releases nearly 8 times as much carbon as cooling the country in the summer. So living in warm southern climates is "greener" than living in cold northern climates.*
We love living in Intown Atlanta as it is, but if you needed even more reasons to live intown, there you have it. Happy Earth Day!
* Source: <a title="Inconvenient Truths: Get ready to rethink what it means to be green" href="http://www.wired.com/science/planetearth/magazine/16-06/ff_heresies_intro" target="_blank">Wired Magazine</a>2010-04-22T04:24:00-07:002016-07-23T21:39:00-07:00Intown Elitetag:intownelite.com,2012-09-20:1220Inman Park Festival and Tour of HomesWell, we had a blast at last weekend's festivals, but there are still more to come. This weekend brings us the <a title="Inman Park Festival" href="http://www.inmanparkfestival.org/" target="_blank">Inman Park Festival</a>. A preview of the <a title="Inman Park Tour of Homes" href="http://www.inmanparkfestival.org/hometour/ht_1.php" target="_blank">Inman Park Tour of Homes</a> begins on Friday, while the festival proper is Saturday and Sunday.
<a href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/inman-park-homes-for-sale/"><img class=" " title="Inman Park neighborhood in Intown Atlanta" src="https://assets.site-static.com/userfiles/559/image/Inman-Park-sign.jpg" alt="Inman Park neighborhood in Intown Atlanta" width="288" height="192" style="float: left; margin: 5px 10px;" /></a> Inman Park neighborhood in Intown Atlanta As in year's past, there will be live bands and entertainment under the tent on Euclid Avenue, in Delta Park and Poplar Circle. Other popular attractions include the Dance Festival in the Trolley Barn as well as the Arts & Crafts Show / Street Market in various booths along the streets of Inman Park.
But the biggest draw of them all must be the parade, featuring a notorious selection of Atlanta’s craziest groups, including the the "Trash Monarch" and "Inman Park Precision Attaché Drill Team." After whetting your appetite on the Tour of Homes, be sure to come back and visit our Inman Park neighborhood page to see all the <a title="Inman Park" href="https://www.intownelite.com/intown-atlanta-real-estate/inman-park-homes-for-sale-atlanta-ga/">Inman Park homes for sale</a>. Hope to see you there!2010-04-20T11:44:00-07:002016-07-23T21:39:50-07:00Intown Elitetag:intownelite.com,2012-09-20:1219Intown Atlanta Spring FestivalsWell, what seemed like Atlanta's worst winter in over 20 years is over, and spring has finally sprung. That means, among other things, that spring festivals are just around the corner in many <a title="Intown Neighborhood Guide Map" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta neighborhoods</a>. The first four major events kick off this weekend.
<img class="img_box_left" title="Spring in Midtown Atlanta" src="https://assets.site-static.com/userfiles/559/image/25156_1441975927519_1176705231_31323721_8270353_n-300x200.jpg" alt="" width="300" height="200" />
The biggest event this weekend is the popular <a title="Atlanta Dogwood Festival" href="http://www.dogwood.org" target="_blank">Atlanta Dogwood Festival</a>. Held at Piedmont Park in Midtown Atlanta, this annual celebration of the blooming of the Dogwood trees has been a perennial favorite in Atlanta for over 70 years. In the 1970s an art show was introduced to the festival, and the juried Fine Art Market has played a big part in the festival ever since. The 1980s saw the tradition of live music begin at the Dogwood Festival, and this year is no exception with well over a dozen acts playing this weekend.
Another fun even this weekend is the 6th annual <a title="Sweetwater 420 Festival" href="http://sweetwater420fest.com" target="_blank">Sweetwater 420 Festival</a>, a two-day music and arts festival. It's free to attend and enjoy live music and activities, and $5 gets you a wrist band that allows you to buy all the wine and Sweetwater beer you can "responsibly enjoy." A portion of the proceeds go to back to the Candler Park neighborhood which hosts the event. A big part of the event is "Planet 420", which sponsors local, regional and national non-profits and environmental organizations. Exhibits and forums will be presented including diesel to grease demonstrations, <a title="Green Building Initiatives" href="https://www.intownelite.com/green-homes-in-atlanta/">sustainable living</a> forums, solar energy exploration, alternate transportation in Atlanta, Georgia’s Energy Future, water conservation and more.
For those with real estate on their minds, these next events are for you. If you're already in Midtown for the Dogwood Festival this weekend, check out the <a title="Midtown Tour of Homes" href="http://www.midtowntourofhomes.com/" target="_blank">Midtown Tour of Homes</a>. This year the tour includes only one single-family home, instead consisting almost entirely of <a title="Midtown" href="https://www.intownelite.com/intown-atlanta-real-estate/midtown-atlanta-condos-and-homes-for-sale/">Midtown Atlanta condos</a>. Also this weekend is the <a title="Druid Hills Tour of Homes" href="http://www.druidhills.org/tour/" target="_blank">Druid Hills Tour of Homes</a> and <a title="Druid Hills Artist Market" href="http://www.druidhills.org/artistmarket/index.htm" target="_blank">Artist Market</a>. This year's theme is "Only on Oakdale", featuring stately <a href="https://www.intownelite.com/atlanta-homes-by-style/tudor-homes-for-sale-atlanta-ga/">Tudors</a>, traditional Georgians and charming <a href="https://www.intownelite.com/atlanta-homes-by-style/bungalow-homes-for-sale-atlanta-ga/">Bungalows</a> all located on, you guessed it, Oakdale Road. If, after touring these gorgeous homes, you fall in love with the neighborhood, you may find yourself shopping for <a title="Druid Hills" href="https://www.intownelite.com/intown-atlanta-real-estate/druid-hills-homes-for-sale-atlanta-ga/">Druid Hills homes for sale</a>.
There are more events upcoming throughout the spring, and we'll tell you about more of them next week. In the mean time, get out there and enjoy the beautiful spring weather here in our lovely city of Atlanta!
Photo Courtesy of Laura Miller2010-04-14T18:07:00-07:002016-07-23T21:43:25-07:00Intown Elitetag:intownelite.com,2012-09-20:1218Brookwood Hills - Featured Buckhead neighborhoodThis month's <a title="Buckhead Neighborhood Guide Map" href="https://www.intownelite.com/buckhead-real-estate/">Buckhead neighborhood</a> profile is <a title="Brookwood Hills" href="https://www.intownelite.com/buckhead-real-estate/brookwood-hills-homes-for-sale-atlanta-ga/">Brookwood Hills</a>. Developed in the early 1920s, historic Brookwood Hills is located near the dividing line between Buckhead and <a title="Midtown" href="https://www.intownelite.com/intown-atlanta-real-estate/midtown-atlanta-condos-and-homes-for-sale/">Midtown</a>, just north of the "Brookwood Split". Like many of the neighborhoods in this area, The Battle of Peachtree Creek occurred on part of the grounds of Brookwood Hills. The area was later named after the estate of Joseph and Emma Thompson, known as "<a href="https://www.intownelite.com/buckhead-real-estate/brookwood-homes-for-sale-atlanta-ga/">Brookwood</a>", which was located near where <a title="Brookwood Station history" href="http://www.nps.gov/history/nr/travel/atlanta/pea.htm" target="_blank">Brookwood Station</a> is today.
The developers hired engineer O.F. Kauffman, who had previously worked with Frederick Law Olmsted in the design of an earlier <a title="Intown Neighborhood Guide Map" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta neighborhood</a>; <a title="Druid Hills" href="https://www.intownelite.com/intown-atlanta-real-estate/druid-hills-homes-for-sale-atlanta-ga/">Druid Hills</a>. Olmsted preferred wide, wandering, curvy roads versus the more planned grid layout of some neighborhoods. Olmsted's influence can be seen in other area neighborhoods including <a title="Ansley Park" href="https://www.intownelite.com/intown-atlanta-real-estate/ansley-park-homes-for-sale-atlanta-ga/">Ansley Park</a>, and <a title="Morningside – Lenox Park" href="https://www.intownelite.com/intown-atlanta-real-estate/morningside-lenox-park-homes-for-sale-atlanta-ga/">Morningside</a> in Intown Atlanta as well as <a title="Garden Hills" href="https://www.intownelite.com/buckhead-real-estate/garden-hills-homes-for-sale-atlanta-ga/">Garden Hills</a> and <a title="Paces" href="https://www.intownelite.com/buckhead-real-estate/west-paces-ferry-northside-homes-for-sale-atlanta-ga/">West Paces Ferry</a> in Buckhead.
The neighborhood is now well known for its canopy of what now appears to be old-growth oak trees, trees which were originally planted along the original streets by the developers, the father-and-son team of B.F. Burdett and Arther Burdett. The neighborhood boasts a diverse variety of architectural styles, which vary based on the various phases of development. The first two phases occurred in the 1920s and included styles that were popular at the time including Colonial, Georgian and Tudor Revival styles. The third phase of development was during the 1930s, and included smaller Bungalows built during The Depression and pre-World War II era. The last phase occurred in the 1960s and included traditional two-story homes. <a href="https://www.intownelite.com/buckhead-real-estate/brookwood-hills-homes-for-sale-atlanta-ga/"><img class=" " title="Brookwood Hills Community Club" src="https://assets.site-static.com/userfiles/559/image/Brookwood-Hills.jpg" alt="Brookwood Hills Community Club" width="288" height="192" style="float: left; margin: 5px 10px;" /></a> Brookwood Hills Community Club The Brookwood Hills Community Club is the envy of many surrounding neighborhoods.
Amenities include a beautiful park, swimming pool and tennis courts. The club is also the location for popular weekly neighborhood gatherings called "Friday Nights at the Pool." Technically non-residents can join the BWHCC, but the waiting list is so long that currently they aren't accepting any new applicants. Residents of Brookwood Hills, however, have the luxury of joining with no waiting. At the time of this writing, there are 25 homes for sale in Brookwood Hills. List prices range from just under $500,000 to well over $2 million. Below is a sampling of the newest home listings in Brookwood Hills. For more detailed information on the neighborhood and advanced search tools, visit our <a href="https://www.intownelite.com/buckhead-real-estate/brookwood-hills-homes-for-sale-atlanta-ga/">Brookwood Hills Homes for sale</a> page.2010-04-07T07:59:00-07:002016-07-23T21:44:34-07:00Intown Elitetag:intownelite.com,2012-09-20:1217The streets of Atlanta and their special annoyancesHouse hunting can be fun and exciting, but it can also be frustrating at times, especially if you're in a strange new city. We love Atlanta, but if you're new to town, you'll have some special annoyances to get used to as you drive around the various <a title="Intown Neighborhood Guide Map" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta neighborhoods</a> shopping for homes.
Getting to know Atlanta can be difficult to the newcomer for a number of reasons. One of the first things you'll notice is that it's very common for the street that you're driving on to change names without notice. There are examples of this all over Atlanta; Monroe becomes Boulevard, Briarcliff becomes Moreland and E. Rock Springs becomes N. Decatur.
It can get even more confusing. In <a title="Midtown" href="https://www.intownelite.com/intown-atlanta-real-estate/midtown-atlanta-condos-and-homes-for-sale/">Midtown</a>, Spring Street is one-way southbound, but in <a title="Downtown" href="https://www.intownelite.com/intown-atlanta-real-estate/downtown-atlanta-condos-and-lofts-for-sale/">Downtown</a>, Spring Street is one-way northbound! Don't worry, you don't have people crashing into each other, because Spring Street in Midtown isn't even the same street as Spring Street in Downtown. The southbound Spring Street in Midtown becomes Centennial Olympic Park Drive in Downtown. The northbound Spring Street in Downtown turns into West Peachtree in Midtown.
That segues nicely into our next pet-peeve: multiple roads with variations of the same name. And "Peachtree" is the most common example. According to <a title="Peachtree Street Atlanta" href="http://en.wikipedia.org/wiki/Peachtree_Street" target="_blank">Wikipedia</a>, there are 71 streets in Atlanta with some version of "Peachtree" in their name. There's Peachtree Street, West Peachtree Street, Peachtree Road, Peachtree Drive, Peachtree Park Drive, Peachtree Circle, Peachtree Lane, Peachtree Walk, Peachtree-Dunwoody Road, and ... we'll, you get the idea. Peachtree is guilty of the previous annoyance too, in that it will change names. As an example, it's Peachtree Street in Midtown, but Peachtree Road in Buckhead, even though it's the same piece of pavement! <a href="https://www.intownelite.com/neighborhoods/buckhead-real-estate/brookwood-hills-homes-for-sale/"><img class=" " title="The corner of Tuxedo and Tuxedo" src="https://assets.site-static.com/userfiles/559/image/Tuxedo-Park.jpg" alt="Tuxedo Park, Atlanta" width="288" height="192" style="float: left; margin: 5px 10px;" /></a>
Here's something you won't hear in most towns, "It's on the corner of Briarcliff and Briarcliff." But that can happen all over Atlanta, thanks to the use of different suffixes, like "Road" and "Place." I don't know if it's lack of imagination or what, but it seems that they (whoever "they" are) have run out of names. So, one must be very careful in Atlanta to specify the suffix when speaking of a particular street (or avenue, or boulevard, or road, or place), although even that may not keep you safe. There is one spot in <a title="Buckhead Neighborhood Guide Map" href="https://www.intownelite.com/buckhead-real-estate/">Buckhead</a> where Powers Ferry Rd NW intersects with Powers Ferry Rd NW. How a road can intersect with itself, I'll never know.
Then there's the illogical numerical addresses. In most cities, "805 Peachtree" would be in the "800 block" of Peachtree, in other words near the corner of 8th and Peachtree. Not here! In Atlanta, 805 Peachtree is actually between 5th and 6th. Why? Who knows! All of this is exacerbated by notoriously poor signage throughout the city. In many cities, major intersections are well-marked with large, sometimes illuminated street signs that are suspended in clear view above the intersection along with the traffic lights. On most intersections in Atlanta, there is one, very small street sign on one of the four corners of the intersection. What fun it is trying to find which corner the street sign is located as you're trying to navigate an unfamiliar area.
Anyway, eventually you'll get used to the nonsensical labyrinth of streets that is Atlanta, and it will become second nature. Once that happens we're confident that you'll learn to love Atlanta as much as we do. And we really do! 2010-03-16T13:23:00-07:002016-09-13T07:33:06-07:00Intown Elitetag:intownelite.com,2012-09-20:1216Morningside - Featured Intown Atlanta NeighborhoodThis month, we're featuring with the <a title="Intown Neighborhood Guide Map" href="https://www.intownelite.com/intown-atlanta-real-estate/">Intown Atlanta neighborhood</a> of <a title="Morningside – Lenox Park" href="https://www.intownelite.com/intown-atlanta-real-estate/morningside-lenox-park-homes-for-sale-atlanta-ga/">Morningside/Lenox Park</a>, most commonly referred to as "Mornginside".
<a href="https://www.intownelite.com/neighborhoods/intown-atlanta-real-estate/morningside-homes-for-sale/"><img class="img_box_left" title="Morningside-Lenox Park" src="https://assets.site-static.com/userfiles/559/image/Morningside1-300x200.jpg" alt="Morningside homes for sale" /></a> Morningside is one of Intown Atlanta's most beautiful neighborhoods with curving tree-lined roads, multiple parks and well-kept homes. The neighborhood is highly-sought after not only for it's beauty and convenient location, but also for it's school district. Most childern in Morningside go to Moringside Elementary, an award-winning public school.
The homes in Morningside are bursting with character, with a various styles represented. The neighborhood boasts one of the city's largest collections of <a href="https://www.intownelite.com/atlanta-homes-by-style/tudor-homes-for-sale-atlanta-ga/">Tudor Revival style</a> homes (along with <a title="Druid Hills" href="https://www.intownelite.com/intown-atlanta-real-estate/druid-hills-homes-for-sale-atlanta-ga/">Druid Hills</a>), as well as numerous Spanish and Mediterranean style homes. In addition to the large number of 1920s to 1940s homes, Morningside also has some stunning Contemporary homes, and mid-century ranches, the latter of which are common in the Johnson Estates and Noble Park areas.
As of this writing, there are currently 86 single-family homes active on the market in Morningside. Prices range from a low in the $200s to a high around $2 million, with an average in the high $700s. Last year 105 single-family homes sold with an average sale price in the $600s. For more detailed information and to see all the homes for sale in the neighborhood, visit our <a title="Morningside homes for sale" href="https://www.intownelite.com/intown-atlanta-real-estate/morningside-lenox-park-homes-for-sale-atlanta-ga/">Morningside homes for sale</a> page.2010-03-02T12:22:00-07:002016-07-23T21:48:28-07:00Intown Elitetag:intownelite.com,2012-09-20:1215Intown Atlanta ForeclosuresOur Intown Atlanta home buyers are often asking about foreclosures, many times because they assume that a foreclosure automatically equals a good deal. Well, that's not always true. There are some great deals on foreclosures out there, but not all foreclosures are great deals. Also, due to current market conditions, buyers can often find great deals on conventional sales. So, the important thing is to assess each property for it's own value, and not assume that a listing is a deal or not based on whether it's bank-owned or not.
<a href="https://www.intownelite.com/atlanta-homes/intown-atlanta-foreclosures/"><img class="img_box_left" title="Foreclosures" src="https://assets.site-static.com/userfiles/559/image/Foreclosures-300x201.jpg" alt="Intown Atlanta Foreclosures" width="300" height="201" /></a>What exactly is a foreclosure listing? In Georgia, banks can foreclose on a home without a judicial process if the loan is in default. A clause in the deed to secure debt (mortgage note) gives the banks this power. You agree to this language when you sign your mortgage loan papers at closing.
Using this "power of sale", banks will attempt an auction to sell the property. These auctions happen the first Tuesday of every month on the steps of the county courthouse where the property is located. Anyone can bid on these properties, but if you win the bid, you must pay cash on the spot, and there is no right of inspection or other opportunity for due diligence. Quite often, the bank's opening bid price is higher than what any bidder is willing to pay. At that point, the property becomes "REO", meaning "Real Estate Owned."
At that point, the bank will list the property for sale on the open market. Listings you can find on this site are these REO or bank-owned properties. Sometimes the bank will list a property a low price right off the bat, hoping to stir up multiple offers and unload the property quickly. Other times the bank will list the property at a high price, and slowly reduce the price over time. This is why you need to asses each deal on it's own merits. Your REALTOR® can help you make that assessment.
Buying a bank-owned property offers the buyer most of the protections of a conventional transaction. You typically can negotiate to get a reasonable due-diligence period, which allows you time to get your financing in order and inspect the property. This makes buying a bank-owned or REO listing much safer than trying to buy a property at foreclosure auction.
Feel free to shop around for foreclosures on this page, and as always, <a title="Contact Us" href="https://www.intownelite.com/contact/">contact us</a> if you have any questions.
Tina & Mike McGee
Owners
<a title="Intown Atlanta real estate" href="https://www.intownelite.com/" target="_self" rel="nofollow">Intown Elite</a>
real estate services
404.478.7800
<a name="ForeclosureListings"></a>
Below is a list of the 5 newest foreclosed single-family homes and 5 newest foreclosed condos in Intown Atlanta. For a more comprehensive foreclosure search, see our <a title="Foreclosures" href="https://www.intownelite.com/atlanta-homes/intown-atlanta-foreclosures/">Intown Atlanta foreclosures</a>
page.2010-02-25T07:45:59-07:002016-03-04T00:00:00-07:00Intown Elitetag:intownelite.com,2012-09-20:1213Atlanta Green HomesWhether it's environmental concerns, an interest in national energy independence, or just personal economic motivations, more and more home buyers are asking about "going green." But in real estate, what does "going green" really mean? There is talk of "green homes," but how do you know which homes are actually green?
<a href="https://www.intownelite.com/green-homes-in-atlanta/"><img class="img_box_left" title="Atlanta Green Homes" src="https://assets.site-static.com/userfiles/559/image/green-home-rounded.png" alt="Atlanta Green Real Estate" width="133" height="132" /></a>There are a number of local and national green building certification programs to help the home buyer make that determination, including EarthCraft House, Energy Star Homes, LEED for Homes and NAHB National Green Building Program. For more information, our <a title="Green Homes" href="https://www.intownelite.com/green-homes-in-atlanta/">Atlanta Green real estate</a> page gives an overview of each of these <a href="https://www.intownelite.com/green-homes-in-atlanta/#GreenBuilding">green building programs</a>. But how does one put all this information to work in their home search? Well, on most home search web sites, you're out of luck. But here at Intown Elite, our property search engine is actually empowered to help you to find green homes.
Our <a title="Green Homes" href="https://www.intownelite.com/green-homes-in-atlanta/">Atlanta Green homes</a> page displays all the listings in the Atlanta area that are certified in at least one of the above mentioned green building programs. Living in a walkable location promotes better health, a reduction in greenhouse gas, more transportation options, increased social capital and stronger local businesses. So, if you're in the market for a Green Home in Atlanta , check out our <a title="Green Homes" href="https://www.intownelite.com/green-homes-in-atlanta/">Green Homes Atlanta</a> page, and feel free to contact us if you have any questions, or if you would like to schedule a showing. 2010-01-17T04:53:00-07:002019-02-15T10:47:49-07:00Intown Elitetag:intownelite.com,2012-09-20:1212New year, new web site featuresWe always swell with pride when our new clients tell us that they "love" our web site. We pride ourselves in having the most user-friendly website for <a href="https://www.intownelite.com/" target="_blank">Atlanta real estate</a>. To maintain that mantle, we're not resting on our laurels. Don't worry, we're not changing our popular <a href="https://www.intownelite.com/intown-atlanta-real-estate/" title="Intown Neighborhood Guide Map">Intown Atlanta Neighborhood Guide</a> and <a href="https://www.intownelite.com/buckhead-real-estate/" title="Buckhead Neighborhood Guide Map">Buckhead Neighborhood Guide</a>, both of which are client favorites. We have, however, added an <a href="https://www.intownelite.com/atlanta-zip-codes/" title="Zip Code Guide Map">Atlanta Zip Code Guide</a>, as well as completely upgraded our property search and display functionality.
Finding the perfect Intown Atlanta home has never been so easy, and with such an <a href="https://www.intownelite.com/atlanta-homes/results/" title="Search All Listings">intuitive interface</a>. While other real estate web sites overwhelm visitors with a sea of textboxes, checkboxes and city selection dropdowns, we instead choose to keep things simple yet powerful.
Now, if you're one of those "technology doesn't work for me" types, don't worry. Feel free to call or email us and we can set up a custom search for you. You'll be the first to see new properties as they come on the market and be notified of price changes as soon as they happen via email alerts.
So whether you want to search all on your own, have it all done for you, or anywhere in between, we can help you. Happy house-hunting!2010-01-12T04:51:00-07:002016-07-23T21:52:06-07:00Intown Elitetag:intownelite.com,2012-09-20:1211Good News Week for Atlanta Real EstateThis week brought a couple pieces of good news about the Atlanta real estate market. First, a report released by Metrostudy shows that Atlanta's housing market has hit bottom, with primary indicators having reversed and now trending to the positive. Although the trend is positive for sellers, we at Intown Elite believe that buyers continue to maintain the power in negotiations, since there’s still nearly 13 months of inventory on the market.
The other good news for the real estate market is the extension of the $8,000 tax credit for first-time home buyers until May 1, 2010. In addition, a credit up to $6,500 is available for other home buyers who have owned their current homes for at least 5 years. This opens tax incentives to "move-up" buyers who are purchasing a primary residence.
As always, there are limits to these credits, so please contact your real estate professional for the details. These tax credits are not likely to be further extended, so if you are considering buying a home, now is the time.
Please feel free to contact us here at Intown Elite with any questions you have about the new tax credits. Thank you and happy house-hunting! 2009-11-09T04:50:00-07:002016-07-23T21:52:48-07:00Intown Elitetag:intownelite.com,2012-09-20:1210Looking for a deal?"I'm looking for a really good deal." That's what just about every buyer says when they first speak with us about buying a home. Not that they're looking for a particular style of home with a specific number of bedrooms or baths, a specified location or even whether it's a condo, townhome or single-family home. We’re finding that buyers are focusing more on the type of deal they can get rather than what attributes they really want in a home.
Of course, everyone wants a good deal, but it's important not to get so tunnel-visioned that you miss out on the perfect home for you, because you're holding out for the deal of the century. Do you want a good deal on a home you love, or a great deal on a home that's just OK? You have to live there. If you don't love it, is it really that great of a deal?
Waiting for the bottom? Many folks are sitting on the sidelines, waiting for the bottom of the market before they’ll jump in. If that sounds like you, how will you know when the market has bottomed out? Market timing is a tricky game to play. Check out the graphic below: <img src="https://activerain-store.s3.amazonaws.com/image_store/uploads/2/3/3/0/9/ar12400120990332.png" alt="" width="491" height="276" class="img_box_center" />
Let's say the graphic represents the housing market. Although the market is cyclical, with ebbs and flows,, most people tend to think in a straight line. Point A was near the peak of the market. Although the market was overinflated, many people thought that prices would continue to climb. This was a contributing factor to the "bubble" that occurred in some markets.
Then, the market began to take a turn in the opposite direction.. Let’s say that now we're at the other end of the spectrum (point B). The market has turned downward and people wonder if we’re near the bottom. The big question on everyone’s minds: When will we know that we’ve hit the bottom and it’s time to get off the fence and start buying?
The answer: Just like the economy as a whole, we won't know for sure that the market has turned until data from previous months are analyzed. In other words, we won't know we're at the bottom until the bottom is already behind us.
So, at what point would you rather buy a home? Point C represents the beginning of the upswing. Both B and C are at the same level on the vertical price scale. The difference is that at point B, people (i.e. sellers) think that prices will continue to decline, whereas at point C sellers think that prices are on the rebound. At which point do you think you'll have the greater negotiating leverage?
(The correct answer here is B.)
What about interest rates? Well, they're at historic lows, too. Buyers can get 30-year fixed-rate mortgages with rates of less than 5%. The federal government a couple of weeks ago made another move, effectively pumping $750 billion into the mortgage market, which should drive rates even lower into the 4's over the coming weeks. So, if you want to take advantage of this "perfect storm" of low rates and low home prices, the time to get in gear is now. Years from now, people may be saying, "Darn, I wish I had bought back in 2009!" 2009-04-17T04:47:00-07:002016-07-24T13:57:07-07:00Intown Elitetag:intownelite.com,2012-09-20:1209Do-It-Yourself Home Buying? Three Ways it Can Cost YouBuying a home is one of the largest, most significant investments you will make in your lifetime. The decisions you make during the buying process are critical and will affect you long after the sale. There’s a lot at stake, but by relying on the experience of a real estate agent, you can eliminate much of the uncertainty and stress when buying a home. So, why do some buyers try to go it alone and buy without using an agent?
Unfortunately, some buyers mistakenly believe that they’ll be better off without a real estate agent when buying a home. Following are three common misconceptions that some buyers have about using an agent, and why giving into those misconceptions could potentially put their real estate investments at risk.
Misconception #1 “It will be easier and more convenient to have the agent who has the FOR SALE sign in the yard help me, rather than getting my own agent.”
The person who has the property listed (and who has placed the FOR SALE sign in the yard) is called a Listing Agent. The Listing Agent works for the seller and, by law, must act in the seller's best interest. Not yours. It’s the Listing Agent’s job to sell the home for as much money as possible and with terms that benefit the seller. Therefore, as a buyer, it typically isn’t advantageous to rely on the advice or counsel of the Listing Agent. Be leery of a Listing Agent who volunteers to represent both you and the seller. This is called Dual Agency - a complicated scenario requiring the Listing Agent’s loyalties to lie with both you and the seller simultaneously. Dual Agency is illegal in some states. An agent who represents buyers is called a Buyer’s Agent. It is the job of the Buyer’s Agent to help the buyer obtain his or her ideal home for the lowest price and best terms possible. A Buyer’s Agent works exclusively for you - the buyer - and has a legal fiduciary obligation to represent your best interests. A Buyer’s Agent can streamline and and simplify the process - walking you through each step and helping you avoid costly mistakes.
Misconception #2 “I’ll get a better deal if I don’t use an agent.”
Some buyers feel they will save money by not using an agent -- believing that the seller will reduce his price in lieu of paying an agent commission. Here's the problem with that theory: When a homeowner hires a Listing Agent to sell his home, the owner is required to sign a contract called a Listing Agreement. The Listing Agreement states that if the home sells, the homeowner is contractually obligated to pay the Listing Agent a commission - say, 6%. What most people don't recognize is that (per the Listing Agreement), the Listing Agent is in no way required or obligated to share that 6% commission with ANYONE except for a licensed real estate agent who is representing the buyer (a Buyer’s Agent). The seller won't simply reduce his price in lieu of paying a commission, because the commission is not his to give. The commission belongs to the Listing Agent. So if you purchase a home without a real estate agent representing you, most likely the seller is still paying the the ENTIRE commission ... all to the Listing Agent. Some Listing Agents will tell you they'll give you a "good deal" if you buy directly from them without representation. This is a common tactic used by some Listing Agents. Remember, they stand to DOUBLE their commission if you don't have an agent representing you. So, always consider the source, what their motivations are and with whom their loyalties lie.
Misconception #3 “I’ve bought property before/I’ve researched home buying on the Internet, so I’m proficient in the process. Therefore, an agent can’t really add any value.”
Finding a home is the easiest part of a real estate transaction. Anyone with access to the Internet or a newspaper can find properties for sale. It’s what happens after you’ve found your dream home that things tend to get complicated -- and where a real estate agent can add a tangible value. Let’s say you’ve found your ideal house or condo and you want to buy it. What happens next? Do you know how to make an offer? Do you understand the ENTIRE contract? How does earnest money work, how much should you contribute and who holds it? How can you be certain you aren’t paying too much for the house? What are your rights during the due diligence period? Are the numbers on your Settlement Statement correct? These are just a few of the important issues you’ll encounter when buying a home so it’s important that you receive the proper guidance. If you don’t have an agent, the Listing Agent may be willing to provide some help, but remember - the Listing Agent represents the seller and is legally obligated to look out for the seller’s best interests. If you’ve purchased real estate before you’ll have a general understanding of the process, but keep in mind that most states adjust their sales contracts yearly, so critical aspects of the contracts and processes can change year-to-year. It’s also important to keep in mind that the information you find on the Internet may be outdated, inaccurate and may not even pertain to the laws and rules in your state. An experienced Buyer’s Agent adds experience and expertise in all aspects of the sales process including financing, negotiations and more. Competent Buyer’s Agents:
Are involved in dozens of real estate transactions per year.
Know what can go wrong because they’ve seen it, time and time again.
Have the knowledge to help you ask the right questions
Can help you avoid oversights and misinterpretations.
Have access to the most updated sources of information, including recent sales data.
Bring a network of known, trusted real estate professionals, including: lenders. attorneys. Inspectors and contractors.
The best part about using a Buyers Agent is that they are compensated from a portion of the seller-paid commission when you purchase a home, so there is no direct cost to you. 2009-03-31T04:46:00-07:002016-07-24T14:15:01-07:00Intown Elitetag:intownelite.com,2012-09-20:1208New Tax Credit for First Time Home Buyers in 2009On Wednesday, President Barack Obama signed the $787 billion Economic Stimulus Plan into law. We're not going to get into the politics, but simply discuss its impact on our little corner of the world -- residential real estate.
Last year we told you about the Housing and Economic Recovery Act of 2008, which was a tax credit for first-time home buyers. The 2009 stimulus plan also includes a tax credit for first-time home buyers, but is much improved over last year's. This new plan provides a tax credit up to $8,000, while the 2008 tax credit was capped at $7,500. That's not the key difference though. The truth is that the old tax credit was actually an interest-free loan that buyers had to pay back to the government over time. The new tax credit does not have to be paid back ever, as long as the buyer doesn’t sell the home within the first three years.
It's important to note that this is not a tax "deduction." It is a tax "credit." That means it doesn't just offset your taxable income, it actually reduces your tax burden dollar-per-dollar up to $8,000. That's right, first-time home buyers can receive $8,000 of "free money" to buy a home in 2009.
Of course, with all government programs, there are some restrictions. If you would like more information on how these restrictions might affect you, feel free to contact us. 2009-02-25T04:44:00-07:002016-07-24T14:15:48-07:00Intown Elitetag:intownelite.com,2012-09-20:1207Real Estate is On Sale!It’s been a while since we made a blog post, partly due to the holidays, but partly because we have been busy with several new <a title="Intown Elite - Home Buyer Services" href="https://www.intownelite.com/For_Buyers/page_1911945.html" target="_blank">buyers</a>. Why, in an uncertain economy, are so many buyers jumping into the real estate market? Do they know something you don’t know? It’s really quite simple - the current market condition represents an unprecedented opportunity for home / condo buyers. So what makes now such a great time to buy?
It’s a buyer’s market.
That’s because there are currently many more people trying to sell real estate than there are people willing and able to buy. That means prices are lower and sellers are more negotiable now than in the past.
Scarcity = Leverage.
Qualified buyers have the power. Not only are there fewer buyers than there are sellers overall, but banks are being more strict on their lending standards. Gone are the no-doc “liar’s loans”, sub-prime, Alt-A and other crazy loan products that created the financial mess we’re in. These tougher standards make qualified buyers even more scarce. If you are a qualified buyer in this market, you are the rare gem. This gives you the upper hand in negotiations.
Mortgage rates near 50-year lows.
Not only can you get a reduced purchase price on a home, but your cost to borrow money is also at historical lows. Many <a href="https://www.intownelite.com/resources/mortgages/" title="Mortgages">Atlanta mortgage lenders</a> have reported rates under 5% for a 30-year fixed-rate mortgage! This also increases your buying power, enables you to buy more home for a given payment, or get a lower payment on a given home.
People are funny.
Human behavior is sometimes irrational and we often repeat our own mistakes time and time again. After stocks have fallen, people feel they need to “get out of the market” and end up selling at the stock’s lowest point. Then they wait for the market to “recover” and jump back in after missing substantial gains. Sell low and buy high? That’s not how you create wealth. The same concept is true for homes.
Real Estate is “On Sale”!
If someone told you that prices of flat screen TV’s have dropped this season, you might be more likely to buy one. Yet the same, normally logical person may hesitate buying a home because they hear in the press that the real estate market is depressed. The press reports might sound like doom and gloom, but what they’re really telling you is that houses and condos are on sale! That flat screen TV will do nothing but depreciate in value. On the other hand, that home that you buy at a bargain price today will surely appreciate in the long run. So what are you waiting for? Real estate is on sale! 2009-02-14T04:42:00-07:002016-07-24T14:28:55-07:00Intown Elitetag:intownelite.com,2012-09-20:1206Home sales jumped 5.5% last monthWith all the doom and gloom on the news, are there any bright spots out there? Yes, of course there are! One is the falling price of oil, gas and other commodities, which helps to soften any downturn in the economy. But what may surprise you is that the resale home market is another bright spot.
We've written in previous blog posts that the Intown Atlanta market has been doing quite well, in contrast to many other parts of the country. But now comes news that the country as a whole is rebounding in terms of existing home sales. In September, existing home sales jumped 5.5% as affordability has improved. Improving affordability in some markets has to do with home prices correcting to more reasonable levels after steep run-ups in bubble markets. But another factor that improves affordability in all markets is interest rates.
Recent actions by the federal government, including the takeover of Fannie Mae and Freddie Mac, as well as the economic "rescue" plan, has lead to lower interest rates for home loans. Very often buyers can now get fixed-rate mortgages under 6 percent. Check with a qualified mortgage lender to see what kind of rate you can get.
The jump in sales last month was the largest since 2003, and outperformed economists expectations. Many economists have said that the economy will not recover until the housing market stabilizes, to this is welcome news. This news coupled with declining inventory may imply that the housing market has reached a bottom. This emphasizes what a great time it is to buy now. 2008-10-25T04:40:00-07:002016-07-24T14:29:28-07:00Intown Elitetag:intownelite.com,2012-09-20:1205Homes in Intown Atlanta are Holding their ValueIn a previous blog post, we mentioned how the Intown Atlanta real estate market was different than the "bubble" markets, which have lost so much in home values lately. By contrast, single family homes in Intown Atlanta are holding their own. In fact, many established <a href="https://www.intownelite.com/intown-atlanta-real-estate/" title="Intown Neighborhood Guide Map">Intown Atlanta neighborhoods</a> can boast rising home values in recent months. But don't take our word for it, check out this recent article in the Atlanta Business Chronicle: <a title="House prices rising in Atlanta" href="http://www.bizjournals.com/ct/c/23766010" target="_blank">House prices rising in Atlanta</a> 2008-10-13T04:37:00-07:002016-07-24T14:30:02-07:00Intown Elitetag:intownelite.com,2012-09-20:1204Metro Atlanta's growth slows, but 'Intown' is still booming!Here's an article that underscores our bullish outlook on Intown Atlanta: <a title="Intown Atlanta booms" href="http://www.bizjournals.com/atlanta/stories/2008/08/11/daily81.html?surround=lfn" target="_blank">http://www.bizjournals.com/atlanta/stories/2008/08/11/daily81.html?surround=lfn</a>2008-08-16T04:36:00-07:002016-07-24T14:30:33-07:00Intown Elitetag:intownelite.com,2012-09-20:1203Don't let national headlines scare you - All Real Estate is localHi there, and welcome to our first blog post! I want to start off on an issue that has been on the forefront of my mind for a while now. Seems like you can't turn on the news or read a paper these days without reading a headline implying that the sky is falling in regards to residential real estate. One must always remember the expression, "All real estate is local." There is a huge difference between the "bubble" markets of Florida, California, Las Vegas, etc., and Atlanta ... especially <a title="Intown Atlanta real estate" href="https://www.intownelite.com/" target="_self">Intown Atlanta</a>!
<a title="Home Prices" href="https://www.intownelite.com/wp-content/uploads/2011/05/case_shiller_indices.png" rel="prettyPhoto"><img class="img_box_center" title="case_shiller_indices" src="https://assets.site-static.com/userfiles/559/image/case_shiller_indices.png" width="334" height="265" style="float: left; margin-left: 15px; margin-right: 15px;" /></a>Image: Atlanta is in hunter green, near the bottom. Click for larger view.
First of all, Atlanta is not a "bubble" market. We did not have the "irrational exuberance" indicated by a huge run-up in prices over a short period of time. Since we didn't have a bubble, there's no bubble to burst! Sure, sales have slowed down, but we are not seeing the decline in values that the bubble markets are seeing. Now, this is not to say that we can't have a decline in prices at some point in the future if, for example, the economy as a whole slips into recession. But if we do, it's not likely to be as bad as the aforementioned bubble markets.
<a title="Intown Atlanta real estate" href="https://www.intownelite.com/" target="_self">Intown Atlanta</a> is even more different! The suburban Atlanta real estate market is struggling a bit. It's all about supply and demand. Let's say you have a home to sell in your suburban neighborhood. Next door, a developer starts a new subdivision of 250 homes. There's 250 more homes on the market, adding to the supply and competing with you to sell your home. Even if demand stayed constant, the increase of supply would drive prices down.
By contrast to the suburbs, there are virtually no plots of land in <a title="Midtown" href="https://www.intownelite.com/intown-atlanta-real-estate/midtown-atlanta-condos-and-homes-for-sale/">Midtown</a> or <a title="Buckhead Neighborhood Guide Map" href="https://www.intownelite.com/buckhead-real-estate/">Buckhead</a> large enough to develop large new single-family subdivisions. Like waterfront property, “they’re not making any more land” in Midtown or Buckhead. Therefore, unlike the suburbs, a single family homeowner in Intown Atlanta is not “competing” with new construction in the marketplace. The only single-family new construction in Midtown and Buckhead is “infill construction”, where an older house is torn down to build a new one. This scarcity of newly constructed homes in the area means that newer and renovated homes yield a premium in the marketplace.
Let's take, for example, <a title="30309" href="https://www.intownelite.com/atlanta-zip-codes/zip-code-30309-atlanta-real-estate/">zip code 30309</a>. This is a good representative zip code, covering the heart of Midtown and extending north into the southern portion of Buckhead. Here are the average sale prices for homes sold in the last few years in 30309:
Year
Average Price
Homes Sold
Days on Market
2005
$711,740
66
89
2006
$735,262
107
90
2007
$806,313
117
105
(Source: FMLS)
As you can see, prices of single-family homes in this area have continued to appreciate, even after prices started to fall in other areas of the country. Checking the days-on-market, once can see that it is taking a bit longer to sell. But despite this fact, the values are still appreciating, and in fact, there have been more sales each consecutive year!
Of course, we have not closed the book yet on 2008, so we can't make an apples to apples comparison yet. But I can give you a snapshot of what we know to date, as of 8-15-08. So far this year in zip code 30309, 67 homes have closed with an average price of $775,619, and 9 properties are under contract with an average price of $979,877. So, we won't know the full story is until all the numbers are in, but so far, it appears that values are holding for single-family homes in 30309.
Condos - Strong Buyer's Market
Condos are a bit different than single family homes. Development of Midtown and Buckhead condos has been prolific in the last few years. Because of that increase in supply, a great opportunity exists for condo buyers to find great deals. Developers have been offering great upgrades, paying closing costs, and being more negotiable on price than in the past. Sellers of existing condos have to compete with the developers, so they are offering great deals, too.
Great time to buy
Basically, if you are a qualified buyer, now is a great time to buy. Since the sub-prime debacle, lenders have tightened requirements for mortgages. That has removed a portion of the demand in the market, giving even more leverage to qualified buyers. Basically, the buyers have the power in this market. While this is not the greatest news for sellers, if you are moving up to another home in the same market, you'll more than make up for it when you buy your new home. Couple that with interest rates remaining at historical lows, and you've got a great time to buy real estate in Intown Atlanta.
Anyway, as you can tell, we're bullish on Intown Atlanta real estate. That's why we bought our home here, and that's why we have focused our business on this area. If you're ready to buy or sell, feel free to <a title="Contact Us" href="https://www.intownelite.com/contact/">contact us</a> at your convenience. If you're just starting the shopping phase, feel free to start looking at homes by <a title="Search All Listings" href="https://www.intownelite.com/atlanta-homes/results/">clicking here</a>. 2008-08-15T04:22:00-07:002020-04-13T20:33:16-07:00Intown Elite