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)

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.

Winston Place - Featured Decatur Condo Community

Several  features make condos and townhomes an attractive choice for home buyers.   Winston Place is a charming small complex conveniently located close to shopping, restaurants, and medical facilities like Emory and the VA hospitals.

Winston Place is one of the few complexes in the area with full garages and some one-level units.  It also has a strong Homeowners Association and well-landscaped grounds and pool area. According to the Atlanta area multiple listing service,  two and three bedroom units here sold last year between $200,000 and $269,000.

Home buyers who choose condos and townhomes are looking for well-kept complexes in desirable neighborhoods close to work and shopping.  Buyers want less exterior upkeep,  ample interiors, updated kitchens and lots of storage.   Winston Place, built in 1985, is an older neighborhood but has many of the features that buyers are looking for today.

Winston Place is conveniently located less than 3 miles from Emory University,  approximately 1 mile from major grocery chains in Toco Hills Shopping Center, and 1/2 mile from  popular neighborhood Oak Grove Shopping Center.

Atlanta Decatur Homes is a local real estate company, serving buyers and sellers in the Emory University, Decatur and Atlanta 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.

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.

Why Do You Need a Property Manager?

Posted on February 12, 2012 by atlantadecaturhomes

You need a Property Manager for many of the same reasons you need a professional real estate agent.  To make your life easier.

Realtors are licensed and knowledgeable about  State and Local laws that might affect your property.  For example, in some municipalities there is a limit on the number of unrelated adults that can occupy a home legally.

A good Property Manager can handle most of the sticky issues that may arise in leasing your home.  They can:

• Advertise the property for lease with signs, lockboxes, information boxes and emails to other local realtors and to major local businesses.  Distribute flyers and brochures to the multiple listing service, personal websites, Realtor.com, Craigslist, Postlets.com, rentdigs.com, and a host of other appropriate sites.
• Screen prospective tenants by checking credit histories, references, past landlords, and backgrounds.
• Prepare a comprehensive Lease that protects the Landlord and the Tenant, spelling out possible problems like access to the property, accountability for damage to the property, and early termination of the Lease by either party.
• Keep individual records for each client, collect and hold Security Deposits and   rent.  Pay maintenance bills or lawn service if requested.  Send out an itemized statement to the Landlord each month, and a year-end report as well. 
• Maintain the property by handling repairs when requested or necessary.  Professional Property Managers have good electricians, handymen, and plumbers available, as well as lawn services. 
• Let tenants into the property when they are locked out.

Perhaps one of the most difficult duties that Property Managers perform is maintaining  a good relationship and communication with your tenants.  Tenants come in all forms and not all of them are amiable, even though they pay the rent on time and keep the property in good condition.  Prickly tenants need a diplomatic approach and one that an experienced Property Manager can handle with ease.

Atlanta Decatur Homes is a local real estate company selling homes located in Atlanta, Decatur, and Emory University neighborhoods for over 25 years and offering professional property management for homes in the Emory area.

Will Home Mortgage Interest Deduction Survive

Posted on February 9, 2012 by atlantadecaturhomes

The American Dream and home ownership have been partners for a long time.

One of the cornerstones of our American housing policy has been the Home Mortgage Deduction, which has been in place since the inception of the tax code in 1913, and allows homeowners to deduct mortgage interest from their taxes.  The tax deduction on home mortgage interest lowers the cost of owning a home significantly.

The housing industry and prospective homeowners and sellers are facing many threats to a quick recovery. 

• Limited availability of long-term, fixed-rate mortgages
• Minimum down payments of 20% or more
• Higher standards to qualify for a home mortgage
• The number of Homeowners that are still “upsidedown” in their homes
• “Short Sales” and Foreclosures that are prevalent throughout the country

Now, our fragile housing market is threatened with a more far-reaching deterrent.  The mortgage interest deduction is being viewed by the Federal Government as an expedient way to reduce the federal deficit.  Lawmakers on both sides of the aisle are once again proposing measures to limit or eliminate the deduction.  The removal of this deduction would push any housing recovery into free-fall , causing the demand for homes to decrease and housing prices to tumble further.

Recent public opinion polls have indicated that although Americans overwhelmingly oppose eliminating the deduction,  lawmakers who are intent on reducing the deficit find this possibility enticing.  According to data from the National Association of Realtors, proposals to scale back or eliminate the mortgage deduction would cause home values to fall 15% for all homeowners, not just those with mortgages.

Lawmakers have bailed out the Banks and the car industry, but are now considering ways to cut benefits to average citizens, such as reducing Social Security and Medicare and  eliminating one of the few surviving benefits of home ownership.

Do the President and Congress understand the ramifications of tampering with this long-held tax deduction, especially given the present economy and the shaky housing outlook?  It seems ill-timed to say the least.

Atlanta Decatur Homes is a local real estate company selling homes in Atlanta, Decatur, and Emory University neighborhoods for over 25 years.

Bungalows - Atlanta Home Styles

Posted on April 22, 2011 by atlantadecaturhomes

Those lovely low-pitched Atlanta homes with overhangs and exposed porches are often loosely described by  Realtors as Bungalows, meaning any small to medium-sized home built between 1900 and 1940 with an open floor plan, and a single story or story and a half.

 

Origin

The original Indian word, “bangla”, was the name used to describe  a small thatched structure for wayfarers.  The British adapted the concept during their colonial occupation of India in the 19th Century, building one-story houses with wide covered verandas and an open floor plan to encourage cross-ventilation in a hot, arid country.

The popularity of the Bungalow style grew at the turn of the century, offering a low cost and attractive alternative for many individuals getting by on modest means.  According to Old Houses.Com, the Bungalow filled more than the need for shelter.  With its style, convenience, simplicity, sound construction and excellent plumbing, it represented the fulfillment of the American Dream.

Atlanta Homes -  Bungalows

While many Bungalows in the Atlanta area were built between 1900 and the 1940’s, the style is still popular today and the influence is evident in many newer Decatur homes, as well as Atlanta Homes.  Most are constructed of wood, brick, stone, or a combination of exterior finishes, and are often characterized by a side porch or a covered front porch with an entryway set off to one side.  Antique Home Style  lists the following typical features of Bungalows.

• Low pitched roof, often with broad eaves
• Entry opens directly into the living room
• Often has large front porch that creates an outdoor room
• Open floor plan and good flow from room to room with minimal space wasted on hallways
• Small with built-ins – like “Butler’s pantries” – for storage and organization.

The most prevalent Atlanta Bungalow styles  are the Arts and Crafts/ Craftsman, Tudor and Cape Cod varieties.

Atlanta Homes -  Craftsman-Style

Our Craftsman-style bungalow has its roots in the British “Arts and Crafts” movement, a philosophy nurtured by William Morris, that emphasized the hand-made over the mass-produced.  The American “Arts and Crafts” movement was a reaction to the over-decorated Victorian era, just coming to a close in the early 1900’s, and encouraged originality, simplicity of form and  the use of local natural materials. These homes were built by the new “middle class”, and were often modest in size with low, gently sloping roofs and deep porches with distinctive square pillars.  Interiors featured built-in china cabinets, nooks, bookcases, seating area and shelving.

Atlanta Decatur Homes  is a local Atlanta real estate company serving Atlanta, Decatur, Druid Hills, Emory University and Tucker neighborhoods for over 25 years.

Lions Gate - Atlanta Townhomes across from Olmsted Park

Posted on April 17, 2011 by atlantadecaturhomes

Lions Gate, an Atlanta Townhome and Condominium complex, is located in Fulton County off Ponce de Leon Avenue  on the edge of Druid Hills. Lions Gateis convenient to downtown Atlanta, the Carter Center and Emory University.  Shopping is close by and the Airport is an easy drive.

This charming Williamsburg-style complex is enhanced by lush grounds and attractive landscaping. Units are priced from the $200′s to mid $300,000′s and are characterized by large rooms with dense moldings.  Many of the units have been recently upgraded or totally renovated.

Lions Gate has the distinction of being located just across Ponce de Leon Avenue from Frederick Law Olmsted’s famous Linear Park.

 

Olmsted Linear Park

Driving East along Ponce de Leon Avenue from Atlanta towards Druid Hills and Decatur is an incredible experience and one of the most beautiful drives around Atlanta. The wide curving road passes by a line of parks and elegant homes, framed by graceful trees. 

Frederick Law Olmsted was a well-known landscape architect who designed New York’s Central Park and the Biltmore Estates in Asheville, North Carolina.  He was hired by an Atlanta businessman in 1890 to develop the Druid Hills area.

Preliminary plans laying out the Linear Park were submitted by Olmsted in 1893, but the final project was completed long after his death.  Olmsted’s vision for Ponce de Leon was a roadway to connect Atlanta to Druid Hills that was wide enough for riding and for carriages. 

His vision never contemplated four busy lanes of traffic speeding by his beautiful parks, but the drive is still lovely and the parks have been attractively maintained by the Olmstead Linear Park Alliance, which was formed in 1997.

Atlanta Decatur Homes,  a local Atlanta real estate company serving Atlanta, Decatur, Druid Hills, Emory University, and Tucker neighborhoods for over 25 years.

Emory Area Townhomes & Condos - Tuxworth Springs, Heritage Two and The Park at Emory

Posted on March 30, 2011 by atlantadecaturhomes

Emory University and the Emory Medical Center are among the highest employers in DeKalb County.  Professors, faculty, residents, doctors, nurses, and staff  live in the surrounding 3-5 square miles, generally designated as the Emory Area.

This area encompasses parts of Atlanta along Briarcliff Road and North Decatur Road, nearby Decatur and  the  City of Decatur.  All of these neighborhoods are in unincorporated DeKalb County where the property taxes are lower, except those located in the City of Decatur, where both City taxes and Dekalb county taxes are required.

A casual drive through the Emory Area reveals the variety and dynamics of a college town, and the elegance and livability of its neighborhoods.  Restaurants, shopping centers and major grocery chains are conveniently located within walking distance of many neighborhoods.  Drop your laundry, pick up stamps, do your grocery shopping and copy your tax returns in one short trip.

In addition, the area boasts some of the most beautiful parks in Atlanta – Lullwater Park where the President of Emory resides, Medlock Park with ball fields and walking trails, and the wild Clyde Shepherd Preserve for bird watching.

Here are a few highlighted Townhome and Condo complexes located within the area:

Tuxworth Springs

Tuxworth Springs is a large gated community, located 2 miles from Emory on Scott Boulevard between North Decatur Road and North Druid Hills Road.  Units range from $110,000 to $130,000 for 2 and 3 bedroom flats.  The complex is well-run and has tennis courts, a gated pool and parking for RV’s.  There is also a reading group and various planned functions.  Medlock Elementary is closing this summer and the new school will be Laurel Ridge Elementary near North DeKalb Mall.

                                          

Heritage Two Townhomes

Heritage Two Townhomes is a small 20-unit Williamsburg-style complex with 2 and 3 bedrooms townhomes and a few 3 bedroom flats, 2 miles from Emory, located off Desmond Drive and adjacent to a new County Park.   Priced between $198,000 and $250,000, these units are rarely available.  The elementary school is Fernbank Elementary, one of the best in the County.

The Park at Emory

The Park at Emory is conveniently located on Briarcliff Road just beyond the Sage Hill Shopping Center and is on the free Cliff Bus route to Emory.  The complex consists of two sections, one older section that was recently updated with new baths and kitchens, and one newer section constructed in the past 5 years.  Units are 2  bedrooms with one or two baths and priced between $99,000  and $140,000.   All have newer kitchens and baths and the lower floors have private patios.  The Park at Emory is a popular site for Emory graduate students because of its close proximity – less than 2 miles -  to Emory.

 Atlanta Decatur Homes is a local Atlanta real estate company, serving Atlanta, Decatur, Emory, Druid Hills, and Tucker neighborhoods for over 25 years!