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

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.

North Druid Valley - Decatur Homes

Posted on May 24, 2011 by atlantadecaturhomes

Close-in Decatur homes like those in North Druid Valley are among the most desirable real estate in the area.  Nestled off North Druid Hills Road between Clairmont and Lawrenceville Highway lies a hidden community of winding streets and lush vegetation called North Druid Valley. 

Several factors make this neighborhood and these Decatur homes a popular choice for first-time homeowners:

• It is ideally situated within a mile of two major shopping malls – North DeKalb Mall with Macy’s and Marshall’s, and Toco Hills Shopping Mall with several major grocery stores, banks and restaurants.
• It is also located less than 3 miles from Emory University/Emory Medical Complex and the Center for Disease Control
• Home prices  range from $220,000 to $250,000 for 2-3 bedroom properties, many of which have been updated with new kitchens, baths and family room additions
• The majority of homes are ranch-style with spacious well-kept lawns

North Druid Valley has an active Homeowner’s Association and many involved and caring neighbors that help make this area an ideal place to live.  In addition to the closeness of shopping and restaurants, the area is also served by a lovely new library, the Toco Hills-Avis G. Williams Library, just a mile or so away.

DeKalb County Library – Toco Hills-Avis G. Williams Branch

Tucked away on McConnell Drive off Clairmont Road is the new Toco Hills Library, a stunning new facility featuring conference rooms, meeting rooms and a special teen area.  The interior has soaring glass windows that highlight the bright, airy space and encourage reading, studying or searching for your favorite books.  The Library sponsors monthly events like book clubs,  classes for internationals, readings by well-known  writers, and fabulous book sales.  There is ample parking and an exterior seating area.  The Library is convenient to many adjacent neighborhoods and close to schools and Emory University.

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

Fabulous Druid Hills! 508 Emory Circle Lot for Sale in Atlanta

Posted on February 28, 2011 by atlantadecaturhomes

If you would like to build a home in this desirable Druid Hills community, 508 Emory Circle may be the perfect  opportunity!   Historic Druid Hills contains some of the most classically beautiful homes in Atlanta, and vacant lots in Druid Hills are rarely available, particularly lots that  have utilities and sidewalks in place. 

 

The area surrounding Emory University is known as Historic Druid Hills, and has a number of distinctive home styles.  Streets around Emory Village, like Lullwater, Springdale and Oxford contain substantial estates with large yards and sweeping driveways.  Streets further East, like 508 Emory Circle and Ridgewood Drive include smaller homes in the 1920’s – 1930’s vernacular, as well as newer homes that have been designed to fit into the historic neighborhood.  Most of these neighborhoods are within walking distance to Emory University and Emory Medical Complex on Clifton Road, or they are  near the free Cliff bus system that Emory provides for the area.

The lot at 508 Emory Circle is located in the Druid Hills Historic Preservation area, and any home erected on the site must first be approved by the Historic Preservation Committee.  The Committee is concerned that the scale  of the home be consistent with other homes on the street, and with the appropriateness of the design.

508 Emory Circle is located approximately a half-mile from Emory University and CDC, just off North Decatur Road, within easy walking distance of a major grocery store, shops, restaurants and  YMCA.  Situated in the Druid Hills Historic District and within the Fernbank Elementary School District,  Emory Circle contains a variety of house styles, mostly 1930′s-1940′s brick bungalows with sidewalks and friendly neighbors.  Several  new homes  have been built on Emory Circle, and tasteful renovations have been made to other homes on the street.

508 Emory Circle contained a similar 1940′s-style bungalow, trim and well-kept, which was damaged in early 2010 so severely by fire that it was not salvageable , and subsequently leveled.   This desirable lot is now available for $269,000.  Utilities are already in place, and a former prospective purchaser has been successful in obtaining Historic Preservation approval for a house plan on this lot.

The Druid Hills community has been popular with employees and students of Emory University, Emory Medical Center, and the Center for Disease Control,( CDC),  for many years.  Residents enjoy the convenience of living close to where they work,the convenience to neighborhood parks,  and the convenience to shopping and restaurants.

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Let’s Review Your Home Buyer Tax Credit

Posted on February 9, 2011 by atlantadecaturhomes

In an effort to stimulate the economy and the housing market, our government gave us some very nice tax breaks last year for purchasing a home before May 1, 2010.  This gift from Uncle Sam allowed many first time homebuyers, and individuals who had not owned a home in 3 years to take advantage of a very lucrative tax break of up to $8,000 for first time homeowners, or up to $6,500 for those that had previously owned a home and lived in it for at least five consecutive years.

If you purchased a home in 2010, you may be eligible for the Home Buyer Tax Credit.

To claim your tax credit on your 2011 tax returns, follow the rules:

• You must have signed a contract to purchase your primary residence before May 1, 2010
• If you closed on your home prior to September 30, 2010, you should qualify for the credit, as long as your original contract stated that the purchase was to be completed by June 30, 2010.  Congress amended the original date because many buyers were involved with short sale or foreclosure transactions, which were slower than normal sales to close.
• The first time home buyer credit is worth 10% of the purchase price of your home, up to a maximum of $8,000.
• Buyers who had previously owned a home for at least 5 consecutive years of the last 8 years are eligible for a credit up to 10% of the purchase price, or a maximum of $6,500.
• The purchase price for both credits is limited to homes purchased for less than $800,000.
• Full credit is available to taxpayers with a modified adjusted gross income of up to $125,000, or $225,000 for joint filers.

Check with your tax accountant for more detailed information about the tax credits that may be available to you.

 

It could take longer to receive your refund, as the IRS is requiring more documentation to prove you purchased your home within the appropriate time period, and are requiring that you file your tax return by mail.  Here are some documents you may need:

1. A copy of your Closing Statement or HUD-1.  If you don’t have a copy, call Your Realtor, who can provide a copy for you.
2. If you owned a home previously, you will need copies of documents showing you lived in the residence for 5 consecutive years during the past 8 years.  You can use mortgage interest statements, tax records or homeowner’s insurance statements.

For addtional information, see the USA Today article by Sandra Block, titled “Can You Get Home Buyer Credit”.

As always, talk with the experts, your Lender, your CPA, and Your Realtor, for more detailed information.