Category Archives for "Intown information"

How To Spot Up And Coming Neighborhoods

How To Spot Up And Coming Neighborhoods

I often get asked about where the next “hot” neighborhood is in Atlanta and while I can’t predict the future, I can share with you how I assess up and coming neighborhoods to determine if they have strong investment potential.

When assessing Intown neighborhoods I have four criteria that I look for; grocery/dining, construction, architecture, assessability

Grocery and Dining

First I determine if any new and trendy local restaurants and coffee shops are opening up in the neighborhood.  Then I look for chains such as specialty grocers like Whole Foods or a Starbucks. If I find higher-end dining and grocery then I know that these places will attract middle to upper-class households. Therefore I can speculate that eventually these businesses will begin attracting people to live in the vicinity.  In fact, according to Zillow, between 1997 and 2013, homes closer to Starbucks coffee shops increased in value by 96%, compared to 65% for all U.S. homes. That’s 31% more than that of all U.S. homes!

Construction

When I drive around looking at real estate opportunities, I am always looking out for new residential or commercial developments taking place.  If I see a more than normal amount of construction activity, it’s worth taking a trip to the city permit office for additional research. You can be sure that if developers are building then they believe that there’s a growth opportunity.  However, you want to ensure you understand what’s being built, for example, trendy condos vs. low-income housing.

Architecture

This is an interesting and often-overlooked assessment.  If there is unique architecture in the area then that lends to trendy and unique renovations.  Consider that some of the hottest real estate markets, like San Francisco, New York, and Boston all have amazing historical architecture.  Historical residential architecture generally attracts higher-end buyers looking for unique home buying opportunities. Purchasing unique, historical architecture is like buying a piece of art,  it’s exciting knowing that you have a one of a kind piece of history.

Accessibility

Lastly, I’ll evaluate the neighborhood’s proximity to major highways and public transportation.  Ease of accessibility is becoming more and more important to buyers as they look to reduce commute and car time.  According to US News, residential property values performed 42% better on average if they were located within a half-mile of public transportation. Additionally, Lawrence Yun, chief economist at the National Association of Realtors was quoted as saying “When consumers choose a home, they also choose a lifestyle. Shorter commutes and more walkable neighborhoods matter to a growing number of people, especially those living in congested metro areas.”

As a last step in my evaluation process, after I’ve checked off the above criteria, I start looking at value indicator metrics such as sales price trends and how long homes stay on the market before they’re sold.

Here are my top picks for neighborhoods that meet these criteria in Atlanta:

Downtown

Downtown Atlanta

I consider Downtown a massive up and comer in Atlanta where you can find very good value for property Intown. Downtown has a lot of exciting developments happening and it meets all of my criteria listed above.  You can learn more about downtown opportunities from the post I wrote about downtown last year.

Cabbagetown

Cabbagetown Atlanta

Cabbagetown continues to sit on my radar as an up and comer, especially as they extend the Eastside trail to run directly into the neighborhood giving it premium accessibility to everything the beltline has to offer.

Kirkwood

Kirkwood Atlanta

Kirkwood is another neighborhood that’s been on my radar.  Its like it’s own little small town within the heart of Atlanta. It has a fun historic downtown area, unique Victorian style homes, and cozy craftsman style bungalows.

I invite you to use some of these criteria as you evaluate your next home or investment opportunity. As always, I can be of assistance in evaluating neighborhoods in Atlanta then please contact me here.

The Shops at Buckhead

Atlanta’s Tech Hub Neighborhood

 

Atlanta’s Tech Hub Neighborhood

Without a doubt, if you’re from Atlanta you’re familiar with Buckhead, it’s one of Atlanta’s most fashionable neighborhoods, often being referred to as the “Beverly Hills of the East”.

It gets its nickname for a good reason, it’s home to some of Atlanta’s most luxurious homes and condos, best high-end restaurants like Aria and Chops, and premium shopping with Phipps Plaza, Lenox Square and The Shops at Buckhead.

The Shops at Buckhead and Aria

The Shops at Buckhead and Aria

But there’s more soul to Buckhead than meets the eye.  Underneath all it’s glamour is the tech hub of Atlanta and the Southeast. In fact, according to Forbes, Atlanta is considered to be one of the top 5 up and coming tech mecca’s in the country with tech jobs growing close to 40% since 2010.

Atlanta Tech Village

Atlanta Tech Village

Lying at the center of all the tech growth is Atlanta Tech Village (ATV), located in the heart of Buckhead.  Founded by David Cummings, The ATV, as it’s known, is considered the start-up hub of tech innovation in Atlanta attracting top start-ups and talent from around the country.

The tech and innovation attraction of Buckhead is one of the main reasons Buckhead is expected to exceed over 40% population growth in the next 20 years, with the largest demographic being people ages 25-34.  This expected growth makes it ripe for real estate growth. According to the 2018 Buckhead Guidebook, there are over 22 new developments underway, of which 2,700 are new multifamily units. Additionally, 38 new development projects have been announced but not yet started, so developers continue to remain positive on growth within Buckhead. Even with all the development underway, according to mdjonline.com, there is still not enough inventory to meet the expected population growth.

So what does this mean for savvy real estate investors, new families and millennials looking to relocate?  I believe there is a good buying opportunity in Buckhead right now. If you’re a person looking to be part of one of the top tech business communities in the country, love good food and plenty of premium shopping then Buckhead should definitely be considered.

The Charles Buckhead and The Eclipse Buckhead

The Charles Buckhead and The Eclipse Buckhead

In fact, there are some really interesting residential developments happening right now too, one of which, The Charles, a luxury condo development located next to The Shops at Buckhead and slated to be completed in 2019.  

Here is a link to an overview of many of the Buckhead projects underway.

In the meantime, take a look at one of my latest listings a the Eclipse Buckhead Condominiums, a stunning 2 bed 2 bath right in the heart of Buckhead.

If you’re interested in seeing are learning more about properties in Buckhead please do not hesitate to contact me with questions.


Midtown Atlanta

Why Midtown Offers The Best Of Urban Atlanta

 

Why Midtown Is The Best Of Urban Atlanta

Midtown Atlanta is one of the most bustling urban neighborhoods in Atlanta where business, culture, arts, and nature all come to together to make one of the most diverse and exciting neighborhoods that define Atlanta intown living.

Midtown Atlanta Map

Whether you’re new to the city or a native Atlantan, Midtown has something to offer everyone. It’s one of the most walkable neighborhoods in Atlanta and it’s often the first place I direct people to who are wanting an intown experience.

Culture and Arts Center

Midtown is a melting pot of culture; home to entrepreneurs, artists, students, and families you can always find lively people and events to interact with and attend.

Music Midtown and Pride

Music Midtown and Atlanta Pride

Midtown hosts the most exciting festivals in Atlanta that bring the community together for unique experiences. Some of the most significant events include; Dogwood Arts Festival, Peachtree Roadrace finish line, Music Midtown, and Atlanta Pride.

Atlanta Symphony and High Museum

Atlanta Symphony and The High Museum

Known as the “heart of the arts” in Atlanta, Midtown’s concentration of art and artists help make it one of the premier cultural centers in the south. According to the Midtown Alliance, there are 25 different arts and cultural venues, more than 30 permanent performing arts groups, and 22 various entertainment facilities in Midtown. It is home to the Atlanta Symphony, High Museum of Art and Alliance Theatre. Here is a link to a map of all the art and entertainment venues in Midtown.

Foodie haven

Buena Gente Food Truck and Green Market

Buena Gente Food Truck and Piedmont Park Farmers Market

If you are a foodie, Midtown has you covered. It’s home to some of Atlanta’s best restaurants, food trucks, and markets. Some of my favorite Midtown Restaurants are The Consulate, The Lawerence, and Bulla.

If you’re a food truck connoisseur you can find food trucks throughout Midtown almost any day of the week, and one of the largest Midtown food truck concentrations happens every Thursday at 12th & Piedmont. One of my favorite food trucks is Buena Gente Cuban Bakery for delicious Cuban baked goods and Cuban coffee.  Here is a link to the calendar of food trucks and locations.

Aspiring chefs and foodies can find an excellent variety of locally grown fruits, vegetables, and meats every Saturday at the Piedmont Park farmers market. There’s also live music, crafts, and cooking demos, so it’s a fun way to spend a Saturday morning.

Nature

Piedmont Park and Botanical Gardens

Piedmont Park and Atlanta Botanical Gardens

If you need a break from the urban hustle you can head over to Piedmont Park, centrally located in Midtown, the park has over 200 acres of green space with running and bike paths plus plenty of shady trees for afternoon picnics.

Additionally, located on the edge of Piedmont Park is the Atlanta Botanical Gardens, which has rotating garden artistry year round and a spectacular annual Christmas display.

Real Estate Market

If all of these urban benefits and attractions are appealing to you, there are opportunities to own and rent properties in Midtown’s thriving real estate market.

Whole Foods and Colony Square

Whole Foods @ 14th Street and Colony Square Redevelopment

With new businesses and commercial developments rapidly entering the Midtown area, it’s no wonder that Midtown is a sought-after market. According to Curbed Atlanta, there are currently 40 commercial developments proposed or under construction within the Midtown radius. Some of the more notable ones include a 3 story Whole Foods market and the Colony Square redevelopment which will consist of a state of the art food hall and over 143,000 sq ft of entertainment, retail, restaurants and fitness concepts.

With all the new development there is a noticeable influx of people looking for residential properties. According to realtor.com residential property in Midtown has been a great investment, with median listing prices increasing over 33% in the past three years. Currently, Trulia.com shows median sales prices at $291,000 and median monthly rental rates of $2,750. Much of the steady increase in price can be attributed to the ongoing low supply, as of August there was a 2.6 month supply in Midtown (30309 area code) where a 6 month supply is considered a balanced market.

In my opinion, I don’t see supply increasing significantly, and I also expect people to continue to migrate to Midtown as business presence grows and more people, especially educated millennials, prefer to be closer to jobs and live in walkable urban environments. Therefore, I expect Midtown real estate to, at a minimum, to maintain it’s value if not continue on its upward trajectory.

If you are interested in a new home or condo in Midtown, please contact me, I can provide you with more information on the Midtown market as well as help you navigate the different pockets throughout Midtown. I currently have two excellent properties listed at one of Midtown’s best condo locations, Mayfair Tower, across the street for the new Colony square redevelopment and 1 block from Piedmont Park. You can view the listings in the with the links below.

199 14th Street NE, #1109, 1 bd 1 bth, list price $255,000

199 14th Street NE, #1905, 2 bd 2 bth, list price $359,900 [Great Investment Opportunity NOW leased @ $2200 per month through NOV 30 2019]