Decatur Deal at $134,500


I just listed this 2 bedroom / 1 bathroom condo in Decatur…not on the outskirts of Decatur - but Decatur proper.  Like a 5 minute stroll to the Decatur Square or Marta.  This condo is listed at $134,500 and if you are a new buyer - don’t forget the up to $8,000 tax credit you could get.  Wow. Located in Montgomery Place condos, this residence is perfect for a first time buyer or someone who wants to downsize and get rid of a car. 

It has a newly refurbished bathroom, two well sized bedrooms, a den, a breakfast area, and has great light inside.  It comes with a storage unit and washer and dryer in the basement of the building and a parking spot out back.  The $200.00 monthly dues pay for water, sewer, cable, outside maintenance/insurance and pest control.

Just imagine living pretty much next to Dancing Goats Coffee Shop, down the street from Taqueria Del Sol, and minutes away from the famous Brickstore Pub.  Ah - you never have to leave yor own little heaven!

Let me know if you are interested in seeing it!



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Condo Sales and Foreclosures

I thought I would post an article about condo sales from the AJC.  It, of course, says what we have been thinking - that condo sales are way down, but it is an interesting article and discusses the fact that maybe, just maybe, if these developers continue to slow down the influx of new condos, that the condos currently for sale - will, alas -  sell!

I also do not know if you heard that the Mansion on Peachtree (pictured below) has officially gone into foreclosure and was bought today - are you ready? - for $66 million - a massive 65% drop from the estimated $197.4 million in total loans for the project.  OUCH


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2010 - What’s in Store?

I really have no idea.  I mean, I know that I am a “Realty Expert” and all, but jeez, this market really is an interesting one and a slightly depressing one to figure out.  Let’s just say that I don’t think 2010 will get amazingly better. I think and worry that (among other things) foreclosures will continue to screw us up

In the meantime, the good news (for buyers) is that there are still some serious serious deals out there in the condo/loft world.  No doubt about it.  The bad news for sellers is that they are obviously not making - and many times losing - money on their sales.  This causes a whole developments to feel it - as once one loft goes down, they all start going down in price.  It sucks quite frankly for everyone involved (but a new buyer who will be there for a long time).

Anyway, enough of the sad stuff!  Let’s keep on trucking and think positive. If you did not read the AJC articles on property taxes, you must do so!   Here is a link to one of the last articles they wrote on steps that could help lower your property taxes.   Also, if you are thinking to upgrade to a larger home, don’t forget the Federal Tax Credit helps those moving “up” to take advantage as well.

And last but not least…if you need a wonderful new dog in your life, I have just the one.  Captain Kirk was rescued from Dekalb Animal Control after being abandoned.  He was about to be put down and I could not let that happen!  He is a little over a year old, is a beautiful, warm, loving, and gentle pitbull mix (one of the hundreds being abandonded by buttheads each month in Atlanta).  He has been fixed and has had all his shots, is good with kids, cats, and loves loves loves other dogs….You really can’t go wrong!   He is living with me right now, but he needs a home of his own ASAP!   Let me know if you are interested in meeting him!


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Happy Holidays!

We wish you a very fabulous holiday and we look forward to blogging much more in 2010.   Peace, love, and joy in the New Year!  Thanks for reading, Knox, Ashley, Little Girl, and Big Boy Brutus


What’s Selling in Our Fair City? - Part 2

(*I started this before Thanksgiving and am just finishing it.  Sorry*)

I decided to head on over to Midtown in zipcode 30308 for this next post.  I have found that in the last month or so, things seem to be picking up - at least with single family homes- but let’s look at condos and lofts.  I have also randomly picked out two different (newer) properties to see how they have faired - Twelve Centennial Park and Troy Peerless Lofts -which we will look at in a moment.

The average condo/loft etc. that sold between June and November 11, 2008 was a 1 bedroom / 1.5  bathroom residence for $175,000. There were 88 total residences that sold during this period of time.  Out of those 88 that sold, 15 of them were in foreclosure or corporate owned. This year, during the same dates, actually 103 total residences were sold and the average sold was again a 1 bedroom / 1.5 bathroom.  Yet, the average price sold is $166,000. That is about a 10K difference.  There were also a whopping 32!! in foreclosure or corporate owned out of these 103 sold.  Ugh.

Now, Let’s look at the difference in sales of two distinct properties.  We will start at Twelve Centennial.  Remember, this big upscale condo high-rise in Downtown was completed in 2007 and has never been 100% sold.  Between June 1 and November 1 2008, only 5 sold with the highest being a 2 bedroom/2bathroom at 285K.  The lowest priced sold was a 1/1 for $190,700. The average residence sold was a 1/1 for around 215K and the average original listing price was at 219K.  That is pretty close.  This year, numbers are a bit different.  Ten residences were sold…the highest 2/2 was sold for 200K and the lowest priced sold this year during our time frame, was a 1/1 for $138,500. I would have hated to have bought the same sized 2 bedroom last year and paid 85K more than the one that sold this year.   Eesh.  Makes me queasy.


On to Troy Peerless - a great loft conversion in Poncey Highlands area (and much much smaller than Twelve...) that was completed in summer of 08 and also is not sold out.  Two lofts here sold in 2008 between June 1 and Nov 11.  They were both 1 bedroom/1 bathroom lofts- one bigger than the other and one sold for $194,900 and the other one sold for $161,900. This year, 6 actually sold and the highest priced was a 2 bedroom /1.5 bathroom at $247,500. It had originally been listed for 329K!  Other than that, the rest of the lofts were pretty close to the list price.  The lowest priced loft sold for its (current) listing price of 158K. (The original listing price was indeed $199,900.)  Regardless, I feel good about this one…buying something historic and different helps. Seems as they are holding steady.

We shall move closer to Buckhead for the next one!  Let me know if you have any questions or comments!

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What’s Selling In Our Fair City? - Part 1

Has the condo/loft market gone ka-plunk in Atlanta in the last few months?  I have to say - kinda, sorta, yes.  We all knew it may happen after Atlanta got a gluttonous amount of massive condos put on the market last year.  Many new high rises have fallen way way way short of being “100% occupied.”   I have not written much lately, as I have not been spending as much time on lofts and condos as I have single family homes, but I decided to do a little investigating.  I am going to go back to June 1, 2009 up until today (October 28, 2009) and will compare it to sales during the same months of 2008.

So, we will start in Downtown.  First, in zipcode 30303 - which includes the Central Business District and the Fairlie Poplar area. Eleven condos/lofts sold in this area during these past four months.  Problem is-9 of those 11 were foreclosures/bank owned. Ouch.  The highest price was a 2 bedroom/ 2 bathroom residence in Fairlie Poplar and it sold for $162,000.  The lowest price residence sold was a 1 bedroom/1 bathroom at the William Oliver for $58,000.  From June 1 to October 28, 2008, only 5 sold - but 3 of them were 2 bedroom /2 bathroom homes and all sold at higher prices than the highest priced one in 2009.  The 2 bedroom /2 bathroom at Renaissance Walk sold for $271,900 (boy I bet those buyers wish they had waited) and one 2 bedroom/2 bathroom in the William Oliver sold for $179,000.  Two of the 5 that sold last year were foreclosures - but the average priced sold in this time frame of 2008 was $177,000 and the average size was a 2/2.5.  The average priced sold the past 3 months of this year was $98,309 but the average size was 1/1.5. So, it seems we have come down in this area - but not terribly since last year.

Let’s move on to zipcode 30313 - which includes more of Downtown and the Castleberry Hill area. This year, 19 have sold since June 1st and out of those 19, a whopping 12 were in foreclosure - and one was a short sale.  The two highest priced were very large 3 bedroom / 2.5 bathroom Centennial Park North townhomes with 2 car garages.  The entire development was in foreclosure and one was on the market originally at 517K… and sold for 370K.  Holy crap.   The lowest priced residence during this time frame was a 910 sqft 1 bedroom/1 bathroom loft in the cool Giant Loft building which sold for $55,100.  The average priced condo/loft that sold in the last 3 months was $165,692 and the average size was a 2/2.5.   From June 1 to October 28, 2008, the average priced home of the 21  that sold was $232,314 and the average size was a 2/2.5.  This ain’t pretty. Thirteen of the 21 from last year were foreclosures.  The highest priced was a 3 bedroom/3 bathroom sweet loft at the new Castleberry Point Lofts.  It sold for 455K and had been on the market at 475K.  The lowest priced one was a foreclosed 1 bedroom/1 bathroom in Centennial Park West that sold for 105K after the bank had put it up for sale at 169K.

Wow - interesting stuff here.  We shall move on to Midtown in the next few days.  I would say Little Girl’s look in this photo basically sums up my thoughts in the here and now.  Although, if you want a serious deal - looks like you can get one!


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The 8th Annual Castleberry Loft Tour Is Almost Here!

If you love lofts and yet, have not been to the Castleberry Hill Loft Tour, you are certainly missing out on many cool ones in this neighborhood.  The oldest and most authentic lofts in the city reside in this south end area of Downtown - many offering wonderful views of the city.

This weekend, September 26 and 27th, guests will visit eight sexy lofts in Castleberry Hill and will be able to hang out around the area - visiting local shops, restaurants, etc.  There will be an art market located in the courtyard of Castleberry Point Lofts this weekend and you can begin the weekend in Castleberry Hill by attending the acclaimed art stroll on Friday night.


What a great event this weekend for loft lovers!  Enjoy.

P.S. There are some serious deals to be had on lofts in this area…especially the newer ones like Castleberry Point. Holy Sch-molly.

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May The Force Be With You

Alas, if you live in a loft or condo downtown, you MUST attend the 2009 Dragon*Con Festival.  IF you are looking for a loft or condo downtown, then you HAVE TO be a part of one of the most fabulous things that comes to Atlanta (in my humble opinion of course.)

Held every year in Atlanta on Labor Day Weekend, Dragon*Con is “the world’s largest multi-media popular culture convention focusing on science fiction, fantasy, gaming,comics, literature, art, music and film in the U.S.”  You say, WHAT?   I am telling you, if you have not done the parade, you must.   You can witness stormtroopers walking with Harry Potter walking with fairies, walking with dragons, walking with Gandolf!  It is something out of a bad dream come to life and I love it.

I usually take Brutus every year, but last year, an alien came up to him and scared my poor big boy to death.  So, this year I think just the humans will go alone.  This has truly nothing to do with buying a loft or a condo - but it certainly has to do with what our city offers…and this thing is spectacular.  The parade will be held on Saturday at 10am. Oh, and I forgot to let you know that William Shatner is the guest star this year!  OH YEA!

img_0422 Brutus fainting after being “attacked” by an alien.  (Actually he was just bored and lying around on the street.)

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Deadline for Federal and State Tax Credit Looming

Don’t forget that on November 30, 2009, the federal tax credit of $8,000 for buying a principal residence goes away.   If you are seriously considering buying a loft or condo, you should do it before November 30.

For more information on the federal tax credit, please click here. And don’t forget that the state of Georgia has it’s own tax credit worth up to $1,800 - for more info on that, visit here.

If you have questions or want to look for a property (and there are loads of deals out there right now, people) then let me know!

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Freedom Lofts


Home of the National Linen Company and built in 1954, this fabulous loft building is truly one of a kind.  95 foot long steel trusses allowed for uninterrupted factory space.  The expansive metal windows created tons of light and the modern design made way for efficient textile manufacturing.   The architects who created Freedom Lofts in 2001 truly went out of their way to capture the historical details.

Located in Poncey Highlands - close to everything in-town-the space is urban and industrial, expansive and modern and yet, warm.  I love them.  I am also lucky enough to have one on the market for $239,900.  This 1 bedroom 1.5 bathroom loft is sexy.  The views from the rooftop deck are fabulous and the open space in the living spaces are second to none.  Check out fabulous photos here and call or email me if you are interested in seeing it in person!

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