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.

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.

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.