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Advice to an Atlanta buyer in the golden age of real estate

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That’s a photo of the house that I lived in from 1965 to 1971 in Savannah, GA. Many will point to a number of geopolitical pivots after the “Golden Age” of mid-20th century America and tell you that 1965 was certainly toward the end of the golden age. I’ve read that 1973 ended the “expansion” period post-WWII. I could go on… Well, this article is not about that golden age – it’s about the golden age of real estate happening right now! I communicated with one of my clients about making an offer on a really cool resale priced in the $200’s today, and they’ve decided to make an offer. I spoke with the agent who represents the seller to get a feel for what’s up with this “estate sale” and she said that they have had one offer and it was all cash. A low offer. In nearly 6 months, just one lowball offer. The seller countered and the buyer never came up. The buyer returned one week later with a little better offer, then left after being rejected never … [Read more...]

It’s better to be Led Zeppelin

One of my clients wrote me and asked about a low market investing scheme that he cooked up – essentially a wholesale flip business. I wrote him back and asked: How vividly interested are you in this pursuit? Scale of 1-10 with 10 being "flipping the shittiest houses in Atlanta is my only hope of economic survival" and 0 is "this is a fool's game." He wrote back: “I've decided to wait until I can move a little more upmarket, so to answer your question, I give it a 2 - it has a decent beat, but I really can't dance to it.” I wrote back: “It's like the beat of an old bluesman stomping his feet - it's all you really need, but it's better to be Led Zeppelin.” … [Read more...]

Accounting for the T-SPLOST Referendum

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I took this photo last week while standing on the rooftop of the old City Hall east – it’s a shot of the Beltline at Ponce… I love the idea of the Beltline, and I believe that the T-SPLOST referendum is a big complement to the Beltline development that will occur over the next two decades – making the Beltline happen is the #1 reason why I’m voting yes. However, I am a little torn about spending more public money with government and quasi-governmental stewards in charge – here’s an example – I rode MARTA last night to the Cheap Trick + Aerosmith show at Philips Arena, and admittedly – MARTA is lame. Weak. It did not feel “SMARTA.” I gave myself plenty of time, but waited 20 minutes in the 5 Points station to get from there to Philips – a one stop ride, thereby missing the first 5-6 Cheap Trick songs. I was not happy with MARTA. Yet, I am an undaunted supporter of the referendum – the projects funded by this referendum will help to truly “UNTIE” our … [Read more...]

Intown Atlanta’s #1 crime

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I moved to Euclid Avenue in Inman Park in 1998 and I have lived in Kirkwood and now Decatur. Ever since I moved Intown, the #1 property crime has always been the “auto break in.” For the first time ever, this particular crime affects me. It sounds like there is a coordinated wave happening too, according to an APD article about a recent arrest. I am the victim of a car break in in the parking lot at 27 Waddell, last night around 9pm. It’s the lot at my daughter’s pre-school. It’s the lot that Yoga Samadhi and Sauced use. I'm really angry about this, and I want this to be the last break in our lot. It sucks to have this happen. It sucks that is it probably going to happen in 30307 about once every 60 minutes almost every night of the week...it really sucks that it happened in our lot, twice in two days. This is my first "car break in." I'm 46. I know that this is the most frequent and quite frankly the easiest crime to commit in Zone 6. I know that enough to … [Read more...]

The Harbour Bar and Fish House in Decatur has a 15% Realtor discount!

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That’s right – the owner is married to a Realtor, and they are showing love with a 15% discount if you are a licensed agent, when you present your business card. I’ve been twice and it’s definitely worth a visit. It’s becoming a busy restaurant and I expect to see it become a real sunny weather destination restaurant for happy hours and gatherings. From their site: “The Harbour Bar & Fish House is a casual seafood restaurant designed to give our customers a local place where they can come together to enjoy themselves with family, friends, and co-workers. Harbour Bar & Fish House feels like a Coastal Restaurant that you may have experienced while on vacation in Hilton Head, Charleston, Cape Cod or Newport RI. We want you to feel as if you are on a vacation in your own backyard. The interior decor is comfortable and relaxing, accented with natural woods and nautical tones of gray and blue. The exterior has outdoor deck/patio seating, two bocce courts and an … [Read more...]

Hot’Lanta is rekindling

Curbed.com’s regional real estate reporting is superb. Their site is interesting and they are really on point with the style of their site. Recently, they reported on a grim forecast that surfaced for Atlanta’s metro economy, bringing up the bad and the ugly that “planners” statewide need to consider. The article cites ““Atlanta's persistent unemployment, traffic congestion, a 29% loss in average per-square-foot housing prices between 2000-2010, and the fact that the city is increasingly offering a lifestyle opposite of that desired by the most desirable workers and companies. The opportunities he sees are also legion, though, and many of them simply involve re-embracing our transit roots: i.e. investments in commuter rail, continuing to capitalize on the power of our airport, making The BeltLine everything it can be and getting T-SPLOST passed.” The AJC reported on the same Brookings Institution report that brought up these findings, stating the following about … [Read more...]