Decatur Homes Financing Tips

As financing becomes more complex, many Decatur home buyers are mystified by the lending process.  Atlanta Decatur Homes advises Buyers to find a good, professional lender who knows their stuff, someone who can anticipate any issues that may arise and walk you through them.  We can also recommend our favorite lenders, who are professional and experienced.

Here are a few questions to ask your Lender:

• Lock-ins are important when rates are rising – ask how long the lock-in period runs and whether you can get a lower rate if rates drop during the period’
• Ask whether you will be required to pay Private Mortgage Insurance (and ask them to explain PMI to you)
• Ask whether there are any pre-payment penalties for paying the loan off early
• Ask if they will be servicing the loan or if it will be sold to another company

Decatur and Emory homes sell more quickly in the early Spring and Summer when Dogwood blossoms line the streets, and Azaleas trim almost every yard.  It’s an uplifting time of year – a great time to buy a home!

Once you’ve found the perfect home in Decatur and have negotiated a good price, be aware that the house still   has to Appraise for the market value of the property.  Your lender will send an Appraiser to the home to inspect the house and neighborhood and make an estimate of value, based on the sales of comparable homes in  the area.  All lenders require an appraisal to determine how much they could recover by selling the house if you should default on the mortgage loan.

Atlanta Decatur Homes is a local real estate company, representing Buyers and Sellers in the Decatur, Emory and Atlanta neighborhoods for over 25 years.  We also offer professional Property Management Services. Originally posted  on Atlanta Decatur Homes Website on 5/22/2016.

Decatur - A Walkable Eventful City!

Decatur is located less than 8 miles from Downtown Atlanta and approximately 2.5 miles from Emory University, Emory Hospital, Eggleston Children’s Hospital and the Center for Disease Control.  Decatur is a small City with major civic participation, local Police and Fire Departments and a renown School System.

Neighborhoods around Decatur contain renovated older bungalow-style homes, well-kept lawns, parks and sidewalks.  It has a vibrant, friendly atmosphere and many residents live close enough to walk to shops, restaurants, and frequent downtown events.  Annual events for Decatur are organized by the Decatur Business Association and other civic and educational organizations.  It’s a rare week when some activity is not available for residents and visitors in the downtown area near the Square.

During the month of May, Decatur sponsors Blue Sky Concerts at noon on the Square and Concerts on the Square on Saturday evenings at 7 p.m.

Perhaps the most attended event is the upcomingDecatur Arts Festival, held on Memorial Day Weekend, and celebrated throughout the month of May. A recent Lantern Parade, associated with the Arts Festival and held in the evening,  featured an exuberant gathering of adults and children with homemade lanterns, hats and parasols strolling through the darkened streets.

On Memorial Day Weekend, the main Decatur streets are blocked to traffic, and a bustling crowd gathers to enjoy a diverse Arts Festival featuring over 150 artists, dance performances and music.

Another popular annual event is the Decatur Beach Party, held June 17, sponsored by the Decatur Business Association – a ticketed event with  lots of sand, games and music.

Atlanta Decatur Homes is a local real estate company representing Buyers and Sellers in Decatur, Emory and close-in Atlanta neighborhoods for over 25 years. We also offer professional Property Management Services. (Originally posted on Atlanta Decatur Homes Website on 5/15/2016)

Medlock Park - No Commute Emory Neighborhood

While Emory commuters from outside the Atlanta Perimeter are gathering their children and rushing to their cars, homeowners in placid Medlock Park are still snoozing, or enjoying a second cup of coffee.

As North Decatur Road, the main conduit to the Emory community (Emory Hospital, Emory University, Eggleston Children’s Hospital, the Center for Disease Control ) creeps with traffic, many Medlock Park residents walk, bike or catch an Emory Shuttle Bus to work in the area.

Medlock Park residents are also fortunate to have nearby shopping centers with grocery stores, restaurants and shops, including a new Walmart, the DeKalb Farmers Market and soon to open Sprouts Market. There is also a Medlock Park with walking trails and playgrounds in the area.  It’s one of the most affordable and convenient neighborhoods in Atlanta, located less than 8 miles from downtown Atlanta and approximately 18-20 miles from Atlanta Hartsfield Airport.

During the past year, 26 homes have sold in the immediate Medlock Park area, ranging in price from $245,000 to $473,000 and averaging 25 days on the market.  Medlock Park properties come on the market and go very quickly, often with multiple offers.

If you are fortunate to be a successful buyer in this desirable location,  you too may enjoy a second cup of coffee while others are contemplating the car in front of them.

Atlanta Decatur Homes is a local real estate company, representing Buyers and Seller in Emory area neighborhoods like Medlock Park, Druid Hills, and close-in Decatur and Atlanta for over 25 years.  We also offer professional Property Management Services.

Originally published 5/14/2016 on Atlanta Decatur Homes Website

Medlock Park - Popular Decatur Neighborhood

Reasonably priced homes located within close proximity to Emory University are not staying on the market long.  In fact, the average days on the market for nine properties that have sold since January 1, 2014 in the popular Medlock Park area is 41 days!
Homes in the Medlock Park neighborhood located just 2-3 miles from Emory sell between $150,000 and $270,000.  There are currently 14 homes for sale and 16 pending sales since the beginning of the year.
Medlock Park is an area surrounded by convenient restaurants, grocery stores, shops, and the vibrant downtown City of Decatur is only a few miles east.
The neighborhood also contains Medlock Park, a lively complex with playgrounds, swimming pool, and an incredible 2 mile walking and bike path; plus the fabulous Shepherd Nature Preserve.

The Medlock Park area is a close knit community with an active neighborhood association.  Prospective home buyers will enjoy the convenient location accessible to all activities, reasonable home prices, and congenial neighbors who walk their dogs, work  in their yards, and supervise their children at the local parks.
If you would like to be part of this special neighborhood, contact Atlanta Decatur Homes, a local Atlanta real estate company, selling homes in Atlanta, Druid Hills, Decatur, Medlock Park, Morningside, Virginia Highlands and Tucker neighborhoods for over 25 years.  We also offer professional Property Management.

Emory Point - Neighborhood Retail Addition

Construction for a new retail and mixed-use development called Emory Point has been developing during the past year along Clifton Road near Emory University, and its opening has been anxiously anticipated.

Emory Point is now open and features an attractive main street with shops like Strippaggio, carrying artisan oils, vinegars & specialty foods, Fab'rik, and Lizard Thicket, as well as popular local restaurants like Bonefish Grill and Marlowes Tavern.

While not all facilities are open yet, CVS Pharmacy, Jos. A. Bank Clothiers and Ann Taylor Loft, plus a dry cleaner are open for business and 21 shops and restaurants will be available when the project is completed. Limited parking is available along the street with credit card payment, and free 2-hour parking is available in he present parking deck. There are plans for an additional parking area when the complex is finished.

Originally envisioned as a major condominium and shopping environment by Cousins Properties, partnering with Gables Residential, the project was delayed due to the economic recession. The residential aspect has been altered to offer leasing options instead of condos. Gables Emory Point is a luxurious apartment development with dozens of available floor plans, an elegant Club House and Business Center.

Located across the street from the Centers for Disease Control and surrounded by Emory University Campus and the Emory Healthcare complexes, Emory Point is within walking distance for employees in the community and easily accessible by Emory's free shuttle service, the Cliff bus. It should prove a popular lunchtime and evening destination for Emory area neighbors as well.

Atlanta Decatur Homes is a local real estate company serving buyers and sellers in the Emory, Decatur and Atlanta in-town neighborhoods for over 25 years.

Emory University Area Rental Outlook - 2013

The recent economic reality of plummeting home prices, increased foreclosures /short sales, and restrictive home loan requirements has changed the real estate landscape. Renting has become a popular option as public perception has been dramatically influenced by events of the past four years.

Almost everyone has been affected - homeowners, home buyers, job seekers, renters, investors, mortgage lenders.

 

While many in-town neighborhoods like Emory, Druid Hills, Virginia Highlands and City of Decatur are enjoying a healthy rebound in home prices and activity, some prospective home buyers are reluctant to embrace home ownership. After years of lost property values and uncertain economic stability, many buyers have decided to rent rather than purchase a home. And, an influx of former homeowners who have lost homes to foreclosures or short sales are now moving to rental properties in the area.

So, how are we doing? Rental properties in good neighborhoods in Atlanta seem to be doing just great. According to David Haddow, President of an Atlanta real estate consulting firm, "the average rental occupancy rate for intown neighborhoods remains very high at 96.9%."

Why Rentals are Popular Today

• No extensive qualifying beyond normal credit check
• No maintenance costs
• No Insurance or Tax Costs
• Ease of mobility if job change
• Reasonable Rents vs. mortgage payments

Neighborhoods near Emory University attract graduate students, professors, medical workers, retirees, and young couples. Rental properties in good neighborhoods are in high demand and rent prices are increasing every year. Current Rental statistics published by the FMLS multiple listing service in Atlanta indicate that the majority of homes rented during 2012 were in the $1500 – $2500 range in the immediate Emory and Decatur neighborhoods.

The rental market in the Atlanta area inside the Perimeter appears to be thriving and prospects for the near future look promising. Investors and homeowners who are renting their homes until home prices improve in these areas should be encouraged that a ready rental market will be available for some time to come.

Atlanta Decatur Homes is a local real estate company offering professional Property Management Services and representing Buyers and Sellers in the Atlanta, Decatur and Emory University neighborhoods for over 25 years

Druid Hills Neighborhood near Emory University

Posted on April 1, 2012by atlantadecaturhomes

Druid Hills is one of the most desirable Atlanta neighborhoods, located just a few miles from downtown Atlanta in unincorporated DeKalb County, and bordered by wide, curvy Ponce de Leon Avenue.

The Historic Druid Hills neighborhood was originally developed in the early 20th Century by a local businessman who hired the famous landscape architect, Frederick Law Olmstead and his son, to design and implement the development of the area. Wonderful foresight produced lovely winding streets, overhanging trees, neighborhood parks and gracious homes along streets like Lullwater, Springdale and Oxford. For a more comprehensive history of the area, Druid Hills resident, David Hartle, has written Druid Hills, A Brief History.

Architectural styles in the area include stately Georgian and Tudors, as well as more humble Bungalows. Flowering Dogwoods and Azaleas are a trademark and present on most of the streets in Druid Hills.

A recent facelift and roundabout has enhanced Emory Village and the entrance to Emory University, which are located in the Druid Hills Historical District. Once a bottleneck, traffic now moves easily through the intersection and into the area. Pedestrian traffic enjoys continuous walkways through the intersection and is a pleasure to transverse.

Emory Village is small with several popular restaurants, drycleaners, bookstore and limited parking. It is located adjacent to Emory University and is a lively, bustling destination.

The main entrance to Emory University is located in Emory Village on the roundabout. Emory University was originally founded by a small group of Methodists and was named in honor of Methodist bishop, John Emory. According to Wikipedia, the university has nearly 3000 faculty members and almost 14,000 students. U.S. News & World Reports placed Emory at 20th in national university rankings in 2012. Emory has a beautiful campus with old trees and extensive green space. Several years ago, Emory opted to become a pedestrian only campus and instituted the free Cliff shuttle system for students, faculty and staff. The Carlos Museum is located on the campus and houses one of the most comprehensive art collections in the SE.

Atlanta Decatur Homes, a local Atlanta real estate company, selling homes in Atlanta, Druid Hills, Decatur, Medlock Park, and Emory University neighborhoods for over 25 years. Professional Rental Management services are also offered.

Emory Area Neighborhood - Medlock Park

Posted on March 20, 2012by atlantadecaturhomes

The Medlock Park area is nestled between Scott Boulevard, North Superior Avenue and North Decatur Road in Decatur, Georgia. Small well-kept bungalows and brick ranches predominate, with newer construction interspersed. Families and individuals are drawn to the neighborhood by affordable housing and the convenience to Emory University, located less than 3 miles away.

Medlock Park Sales Update

Thirty-seven homes sold in the Medlock Park area during 2011, with prices ranging from $90,000 – $350,000, selling for slightly less than in 2010, The average list price was $192,424 and the average sale price was $180,497, averaging 100 days on the market.

Medlock Park Shopping/Hospital Facilities

Popular restaurants, grocery stores, shops, doctors and hospitals are all located close by

• Evans Fine Foods – N. Decatur Road
• Rainbow Grocery – N. Decatur Road
• UPS & Kinko’s – N. Decatur Road
• Emory Hospital – Clifton Road
• Egleston Children’s Hospital – Clifton Road
• DeKalb General Hospital – N. Decatur Road
• Publix Pharmacy – N. Decatur Road
• Clairmont Animal Hospital – N. Decatur Road

Medlock Park Area Parks

DeKalb County has numerous parks and walking paths convenient to the Medlock Park area, including recently completed bike and walking trails that lead through the woods, connecting two county parks, Medlock Park and Mason Mill Park. Both parks have been extensively renovated and offer tennis courts, playgrounds, ball fields, picnic areas and Medlock Park has a community pool. The Clyde Shepherd Nature Preserve, located in the Medlock Park area, is a 28-acre nature preserve with walking trails, bogs, and bird-watching sites.

Medlock Park offers prospective homeowners a convenient location, reasonable home prices and recreation facilities within the neighborhood.

Atlanta Decatur Homes, a local Atlanta real estate company, selling homes in Atlanta, Druid Hills, Decatur, Medlock Park, and Emory University neighborhoods for over 25 years. Professional Rental Management services are also offered.

Atlanta Real Estate Outlook

Posted on March 16, 2012by atlantadecaturhomes

Although the national housing market is showing some signs of recovery, much of the Atlanta real estate market is still playing “catch up”.

There are bright spots in certain areas of the City. For Example, in-town neighborhoods like the Druid Hills/Emory University area are beginning to increase slightly in value and volume of sales. Other parts of the metro area are reeling from numerous foreclosures and mortgage fraud, which tend to affect recovery figures for the the overall Atlanta Metro real estate market. Foreclosed homes owned by banks made up 53% of metro Atlanta sales in January, while foreclosures and short sales made up 35% of sales nationally.

Comparison figures for the number of homes sold in neighborhoods near Emory University indicate that fewer homes were sold in 2011 in the $350,000 – $$900,000 price range than in 2010, but slightly more homes were sold in 2011 in the same area in the $150,000 – $300,000 price range. This is an indication that first-time homebuyers and investors are taking advantage of very low interest rates, and lower-priced homes. The Emory area is also experiencing an increase in the number of homes that are being leased.

The Atlanta Journal indicated in a recent article that “…the region may be seeing the first glimmers of a sustainable housing market recovery with realtors and builders reporting increased interest from potential buyers in recent months.” The Real Housing Market Report reports that housing units in the South for January were up 8.1%, but average prices were down 2% from January, 2011. Economist for the National Association of Realtors, Lawrence Yun, says “record-low interest rates, bargain home prices, rising rents and sustained job creation are helping to spur sales.”

A report published by Brookings, using recent Census Data indicated some interesting statistics. In general, Americans move around more than their counterparts in other countries, but a lot less than they used to. Homeowners are stuck in places with too few jobs and not able or willing to move to areas with healthier labor markets. The Nation is growing and moving more slowly and struggling economically between two recessions.

• U.S. is growing more slowly
• Americans are increasingly stuck at home
• Minorities are driving growth
• Boomers continue to age – age 45 and over grew 18 times as fast as under age 45 – transforming American households
• Americans lost ground on income and poverty in the 2000’s

72% of renters in a recent poll indicated their desire to own a home one day. When the job market and the economy improves, there is a healthy backlog of prospective buyers waiting to buy homes!

Atlanta Decatur Homes is a local real estate company selling homes in the Atlanta, Decatur, Druid Hills, and Emory University neighborhoods for over 25 years, offering Professional Management Services as well.

Home Won't Sell - Consider Renting It

Posted on March 8, 2012 by atlantadecaturhomes

The National Association of Realtors thinks that property values will rise 1.1% this year, but this modest rise in value may not help your home to sell.  Popular realtor site, Active Rain,  indicates mixed expectations from various sources.

Our economy is still fragile and home sales are up only slightly.  Until the job market and the building industry improve considerably and foreclosures and short sales ebb, home prices will not go up. 

If Your Home Doesn’t Sell, Is Renting the Best Move?

Maybe.  If  you are offered a new position across the country, the opportunity may be too good to pass up.  The decision will be whether to sell your home at any cost, even at a loss, or to consider leasing the property. 

If you decide to rent your home, it will now become an investment property, and you will still be responsible for paying the principal, interest, taxes, and insurance.  You must continue to maintain the property and pay any homeowner fees that are required as well.  An investment property could have significant tax advantages, but you should talk to your accountant or tax professional before you make this decision.

Hiring a Property Manager

Once you have made a decision to lease, consider hiring a professional Property Manager to take care of your home.  Absentee Landlords are at a severe disadvantage, and a “hands on” manager will act as a surrogate landlord to protect your interests in the property.  A good Manager will:

• Advertise your property
• Screen potential tenants – check references and credit
• Prepare Leases and Move/In-Move/Out Agreements
• Collect the Rent – pay Bills – Generate Monthly Reports & Checks to Landlord
• Handle Repairs & Maintenance
• Act as a Buffer between the Tenant and Landlord

In addition, professional Property Managers are versed in local ordinances and Fair Housing Laws and are subject to strict regulations regarding Escrow Accounts and handling of other peoples money.

Atlanta Decatur Homes is a local real estate company selling homes in the Atlanta, Decatur and Emory University neighborhoods for over 25 years, providing professional Property Management Services as well.