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Eco-Fabulous Explored on Beltline Tour

Eco-Fabulous Explored on Beltline Tour

The Atlanta Beltline project is a diverse 2.8 billion project to renovate neighborhoods, parks and commercial space for an area of the city that will be connected by town-car (incorporating old railroad tracks).  The project incorporates nature and neighborhood's existing materials to create a neighborhood that's "eco-fabulous", as our tour guide called it. Brian Leary, the brain behind this project was a college student who was inspired by a similar plan in Paris.

Every Friday and Saturday at 9:30AM, the Atlanta Beltline hosts a free three hour tour along this beltline that highlights the circle that the town cars will transit. Currently, this Beltline tour is reserved for the next year but I was lucky enough to find a seat, due to a cancellation.

I didn't know what to expect on these tours. When I signed up I had never imagined the tour would take three hours out of my Saturday.

ATLANTA: Below-market interest rates offered for homes

ATLANTA: Below-market interest rates offered for homes

ATLANTA -- Starting Thursday, the Atlanta Development Authority will start to offer 30-year, fixed-rate mortgages at 3.5 percent interest, along with up to $50,000 in down payment assistance.

People applying for the program must meet lender underwriting criteria and must complete a homebuyer's seminar approved by the Atlanta Development Authority, and contribute at least $1,500 toward closing costs. Would-be homeowners participating in this plan will have to move into the designated "targeted area" and have to sell any existing property they own prior to closing on their new property.

The maximum price of the home for those using the down payment assistance program is $252,890; while those not needing down payment assistance have a maximum home price figure of $374,268 they must meet.

ULI Hosts 17th Annual Development of Excellence Awards

 

ATLANTA (Aug. 31, 2011) - On Sept. 15, the Urban Land Institute (ULI) will host its 17th Annual Development of Excellence Awards at 200 Peachtree Street in Downtown Atlanta.

The Development of Excellence Awards recognizes outstanding real estate development projects that exemplify ULI’s mission to provide leadership in responsible land use and the creation of sustaining, thriving communities.

Don’t Pass Up Neighborhood Stabilization Program Properties

Don’t Pass Up Neighborhood Stabilization Program Properties

Personally having the opportunity to walk inside several upgraded and renovated Neighborhood Stabilization Program (NSP) homes in the City of Atlanta, one thing is clear to me.  The properties are phenomenal.  Everything inside is new (if it’s not, it certainly is in great condition).  Fresh paint.  Stainless steel appliances. Hardwood floors (in some units) or new carpets.  Fenced-in back yards and/or covered front porches.  These are just a few of the upgrades attracting buyers to the City.  But renters have a great selection of upgraded units too.  Some have granite counters and other amenities I just mentioned.  NSP properties are a great choice for singles, families and college grads who want to live in the City.  If you are in the market to buy and you want to live in the City, I would not pass up the opportunities NSP offers you.   

Selling Season Is NOT Over

Selling Season Is NOT Over

If you have been trying to buy or sell a home and the end of the spring-summer real estate season is stressing you out, The Castles By Chrissy Team says "relax!"

Even though real estate sales do fall off at the end of warm weather, there's still plenty of buying and selling coming this fall and winter.

Remember, sales volume is not your problem. The only house you care about is the one you're selling or hoping to buy.

Real estate isn't nearly as seasonal as it used to be. If a house is priced and marketed appropriately, no matter what time of year it is, there will be a buyer for it.

What's more, many home buyers and sellers are bucking the seasonal nature of residential real estate.

Metro Atlanta foreclosure rate 16th highest in nation

Metro Atlanta foreclosure rate 16th highest in nation

ATLANTA -- Metro Atlanta's foreclosure rate slowed by the middle of 2011, but remains among the metros with the highest rates.

Atlanta had 44,1560 foreclosure filings from January through June, down about 16 percent from the first half of 2010. This gave Atlanta the 16th highest rate of foreclosures, according to RealtyTrac, which publishes the largest list of foreclosures in the country.

The company defines a foreclosure as default notices, scheduled auctions and bank repossessions. 

Real Estate has a Long Road to Recovery

 

The next years of real estate are not going to be positive for homeowners. In fact, it’s estimated that in 2012 over 60% of all home sales will be foreclosures or short sales. This means that the banks will control the pricing of more than half the real estate market and we can expect continued declining values. This idea may not sit well with many after the mortgage meltdown and moral hazard issues we had over the past five years.

Further, we at Sellect Realty believe that it will be another five to seven years before we see home values near their previous peaks and then we expect a plateau for several years to follow before growth. Currently our market is still declining. Despite month-over-month gains we have had another drastic decline in home values over the past 12 months. According to the recent statistics released by Realtor.com the average listing price decreased by 11.42% from June 2010 to $250,933.