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Advice on buying a $9000.00 house…

October 31, 2011 By Leave a Comment
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I have a house listed for sale for $9000.00. The house is located at 1245 Byewood Lane in Southwest Atlanta. It’s a short sale. It’s open for showings. It’s pretty big. It backs up to the city of Atlanta’s “Oakland City Park.” I get inquiries from around the world about it – it has been on the market for over a month, yet no one seems to want to buy it. Oakland City is in one of the most distressed zip codes in the country, 30310. Regardless, in my opinion, 30310 has a great twenty to thirty year outlook - it's the zip that I will buy in when I start landlording new properties again. Here’s some advice I’ve offered recently to a potential investor – a guy from Australia: I  told him - check out these links that detail current trends in and around 30310: 1.  Fort McPherson redevelopment 2. Lakewood Fairgrounds redevelopment 3. Ford assembly plant redevelopment and the recent commitment by Porsche North America The way … [Read more...]

Filed Under: Featured Listings, Market Analysis, Oakland City, Southside

What is a “distressed property?”

October 29, 2011 By Leave a Comment

One of my first time condo buyer clients asked me today "hey Lee, what does distressed property mean?" I answered: "Distressed means a lot of things, but simple, physical distress is vandalism, misuse, abuse, etc. Many distressed properties are physically harmed fixer uppers. In condos, distressed communities are insolvent, poorly led, lacking reserve funds, overwhelmed by rule breaking owners, exceeding the landlord limit of 25% maximum rentals for most bank approvals, and a host of other financial problems that banks will not underwrite with traditional financing guidelines..." I decided to find the current Trulia graphic for one of the most maligned zip codes in the state of Georgia, 30310 - a zip code that has seen real estate value distress for about 8-10 years, and that has been written about internationally as a "poster child" for mortgage fraud, foreclosure and in some neighborhoods like Pittsburgh - outright abandonment - like 40% + of all houses are boarded … [Read more...]

Filed Under: Adair Park, Capitol View, Sylvan Hills, Fort McPherson Area, Mechanicsville, Oakland City, Southside, Southwest Atlanta, West End

The secrets to finding a buyer in the Intown Atlanta real estate market

July 24, 2011 By Leave a Comment
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Many different features attract buyers to a real estate purchase, but the seller only has control over two of them. Sellers can still get the highest possible list-to-sell ratio and sell their homes as quickly as possible if they are willing to put their trust in two time trusted principles of real estate: condition and price. Since 72% of all sales transactions are “equity” transactions – not distressed, not some odd luxury transaction and not an estate sale, the chances are favorable for sellers who “get it.” Here are the the top ten features that attract buyers according to the Keller Williams Realty International survey conducted for our 2011 Market Navigator booklet. 1. Location – favored by 69% of buyers 2. Neighborhood – favored by 55% of buyers 2. Floor plan – favored by 37% of buyers 3. Updates to the house – favored by 36% of buyers 4. Curb appeal – favored by 30% of buyers 5. Square footage – favored by 28% of buyers 6. Back yard – favored … [Read more...]

Filed Under: Adair Park, Capitol View, Sylvan Hills, Bankhead, Brookhaven, Buckhead, Cabbagetown, Candler Park, Castleberry Hill, Chamblee, Collier Heights, Downtown Atlanta, Druid Hills and Emory Area, East Atlanta Village, East Lake, East Point, Eastside, Edgewood, Fort McPherson Area, Fun Facts, Grant Park, Greater Decatur, Home Park, Inman Park, Kirkwood, Lake Claire, Lakewood, Loring Heights, Market Analysis, Mechanicsville, Midtown, Northside, Oak Grove, Oakhurst, Oakland City, Old Fourth Ward, Ormewood Park, Peoplestown, Poncey Highland, Really Great Real Estate Marketing, Reynoldstown, Riverside and Bolton Area, Sandy Springs ITP, Sandy Springs OTP, South Dekalb, Southside, Southwest Atlanta, Summerhill, Underwood Hills, Vine City, Vinings, Virginia Highland, West End, Westside

Welcome to the Intown Insider…

January 1, 2008 By Leave a Comment

intowninsider.com is a real estate media vehicle sponsored by Intown Atlanta and Decatur real estate specialists, The Rootdown Group. The site will feature up to date market analysis, a free real estate search tool with a terrific user interface, a neighborhood compendium, cultural epiphanies and some cool videos. We went live on January 1, 2008. We have a few things to add to make this site rock, but thank you for visiting. Please come back. Get your real estate on! … [Read more...]

Filed Under: Adair Park, Capitol View, Sylvan Hills, ATL Culture and Events, Bankhead, Brookhaven, Buckhead, Cabbagetown, Candler Park, Castleberry Hill, Chamblee, Collier Heights, Divorce Issues, Downtown Atlanta, Druid Hills and Emory Area, East Atlanta Village, East Lake, East Point, Eastside, Edgewood, Fort McPherson Area, General Information, Grant Park, Greater Decatur, Home Park, Inman Park, Kirkwood, Lake Claire, Lakewood, Loring Heights, Market Analysis, Mechanicsville, Midtown, Northside, Oak Grove, Oakhurst, Oakland City, Old Fourth Ward, Ormewood Park, Peoplestown, Poncey Highland, Really Bad Real Estate Marketing, Really Great Real Estate Marketing, Reynoldstown, Riverside and Bolton Area, Sandy Springs ITP, Sandy Springs OTP, South Dekalb, Southside, Southwest Atlanta, Summerhill, Underwood Hills, Vine City, Vinings, Virginia Highland, West End, Westside