6-unit townhomes across from Morehouse College in prestigious WEST END, walk to MARTA, shopping, restaurants, schools, park. Custom kitchens feature granite, stainless, hardwoods. Owner will give 40″ FLAT SCREEN & WASHER/DRYER with full-price offer
BEAUTIFULLY CRAFTED CONDO COMMUNITY WITHIN WALKING DISTANCE TO SHOPS AND RESTAURANTS, JUST MINUTES FROM DOWNTOWN. MAHOGANY WOOD FLOORING, STAINLESS APPLIANCES AND GRANITE COUNTERTOPS. AMENITIES:CONTROLLED ACCESS, RESORT STYLE POOL W/OUTDOOR KITCHEN, FITNESS AND CLUBHOUSE. TAX ABATEMENT UNTIL 2015!
By eHow Personal Finance Editor
Think about how long you’re going to stay in one place. Buying a condo is no different than buying a single-family home–you need to live there at least a couple of years to recoup closing costs, assuming the property will appreciate.
Give some thought to what you want. If you’re not interested in the pool or sauna, understand that the condo’s price and ongoing monthly association fees will reflect their use regardless of your interest in swimming or sweating.
Visit various condominium or townhouse communities and multiunit buildings so you know what’s available where you live. Get a sense of prevailing prices.
Request a market analysis from a real estate agent regarding the selling prices of condos in the building or area. Check the price appreciation on the market analysis to evaluate how quickly the condos are increasing in value; subtract the selling price from the purchase price and divide by the number of years the property has been held by the previous owner for a ballpark estimate of annual appreciation, if any (varies from state to state and place to place), in the neighborhood.
Get prequalified for a mortgage
Find out if the building has a good reputation. Ask current residents how often repairs and maintenance are required, and how good the soundproofing is between units.
Check out parking, storage, security and other amenities.
Ask to see the minutes from a recent meeting of the home owners association (HOA). Find out what the hot issues are and if members are fighting tooth and nail. You may want to keep looking– nobody wants to live where neighbors are at each other’s throats.
Ask how large the HOA’s reserve funds (used to pay for maintenance and emergency repairs on the building) are. The larger the reserve, the less a chance of an assessment or one-time payment to chip in for an unexpected expense. The smaller the reserve, the greater the chance you’ll be billed for an assessment in the near future. Some states require periodic updates of reserves to be published to HOA members.
Check the HOA’s history of assessments to see how many have been made in the past 10 years and how large they have been. This information will help you gauge how likely it is that you’ll be assessed in the near future, and indicate how well-managed the building is. Better managed buildings make fewer assessments.
Talk to other members and find out how restrictive your HOA is. For instance, some buildings even dictate what sort of holiday lighting you can put up. Request the same information as you would for buying a house. Read the CC&Rs (covenants, conditions and restrictions).
Budget in association dues, which are above and beyond your monthly mortgage payment. To assist in long-term financial planning, ask the condo association whether association fees have increased in recent years. Also estimate monthly maintenance costs that you’re responsible for in addition to the association fees.
Make an offer and close on the deal.
AREA West Realty Group, llc
Certified Short Sale and Foreclosure Specialist
- First time homebuyers’ Agent
- Listing Agent/Seller specialist (Investor, Relocation, Pre-Foreclosure,Estate Sale)
- Atlanta down payment assistance expertise
- FHA 203K renovation loan experienced
- Broker Price Opinions (BPOs)
Hello! Welcome to my blog. I hope you’ve found it to be helpful. If you are in the market to Buy or Sell a home within the South West Atlanta area, please feel free to give me a call.
I am a local West End resident and specialize in two of the best In Town neighborhoods of Atlanta; Historic West End & Westview. I’m not just saying that we are the best,I have found this to be true- I moved here from East Atlanta! If you are looking for homes reasonably priced, spacious, character filled and a TRUE sense of community within the city- we’re here for you!
For further information about each please view : www.westviewatlanta.com or www.atlantawestend.com contact any of the listed resources for neighborhood information as well as stats on crime, schools , shops. Unfortunately my time is limited to my clients so I am unable to provide any general insight to our community beyond what I list on my blog. However, after reviewing the above sites, and speaking with other residents, I’m sure you’ll come to agree these are great neighborhoods to relocate to and invest in. Also, both communities have leaders that will provide walking tours.
If you are interested in becoming a client- feel free to give me a call 404-414-3289 or email firstname.lastname@example.org to set a time for us to meet. I look forward to working with you!
Want to know more about me? “Google” me- see all that I do within my communities, I’m serious about the continued growth and redevelopment of these wonderful communities within Neighborhood Planning Unit-T (NPU-T)!
Skype ID: nia.knowles
…which is why I guess, I have many people calling to inquire about relocation.
Manhattan Condos are Setting Price Records
Manhattan condominium and co-op prices are setting records while the rest of the country’s real estate markets are struggling.
The average price for an apartment reached $1.4 million in the last quarter of 2007, up 17.6 percent from the fourth quarter of 2006, according to data tracked by the brokerage firm Prudential Douglas Elliman.
Average prices were pushed upward by the increasing number of units selling for more than $10 million. The number of sales jumped by 3.2 percent compared with the previous year, and days on the market declined by an average of 18. The inventory shrunk by 13.5 percent.
”Every single indicator that we tracked showed a gain,” says Jonathan Miller, the executive vice president and director of research of Radar Logic, which prepared the data for Prudential Douglas Elliman.
Source: The New York Times, Christine Haughney (01/03/2007)
(P.S. I must admit, if I could afford to- I would have a summer condo in Brooklyn….. winter is brutal!)