About Atlanta's Atlantic Station

This is one of the most focused market reports I have completed for Atlantic Station properties. Twelve Atlantic Station continues to be a heated real estate market in metro Atlanta. Buyers continue to be caught in multiple offer situations for units in this wonderful live/work/play 'city inside of city' section of metro Atlanta. Atlantic Station has the draw of buyers looking for intown living with the convenience of shopping, entertainment and easy access to the interstate highway.

Twelve Atlantic offers its residents views of downtown, midtown, Buckhead and panaromic vistas of the entire Atlanta skyline. Twelve Atlantic continues to be a bargain for many looking to live downtown. The two bedroom units have continued to be a heated source of real estate activity. In the last six months, eight two bedroom units have sold for an average of $161,000. The highest sale on a two bedroom unit has been $220,600 for unit 2613 which closed on 10/7/11, The lowest price paid has been $142,500 for Unit 1916.

We all have buyers looking for the 'steal of a deal' these days. So which buyer got the deal on the two bedrooms at Twelve Atlantic during the last six months? Well if you measure by price per square foot, the buyer of Unit 1916 paid $127 per square foot. The average price per square foot has been $141, and the high price per square foot was $164 paid for Unit 1922. The real bargain buyer paid 11% less than the average and 29% less than the high buyer.

There are currently three two bedroom units available at Twelve Atlantic. The available units are:

• Unit 1116 - a short sale listed at $160,000 - hurry as this one is headed to foreclosure
• Unit 2516 - a foreclosure listed at $150,000 - corporate owned
• Unit 1702 - a short sale listed at $250,000 - one of the largest floorplans, 1753 square feet

Interested in Atlantic Station properties or in viewing the available units in Twelve Atlantic? Give our office a call at 404 923 4210 or 404 246 3210. You can email us here. Thank you!

NOTE: Data from GA MLS. All information deemed reliable but not guaranteed.

The Midtown Atlanta condominium market has had it’s fair share of challenges. And it would seem there are still more ahead as we learn that The Atlantic Residences will convert some 80 homes into rentals. According to a story in the Atlanta Business Chronicle, ST Residential, which owns the building and purchased it out of the Corus Bank 2009 failure, actually converted some 40 units in late summer. Another 4o units will now become rental homes.

Current owners or potential Buyers of a home at The Atlantic Residences at Atlantic Station should not have to worry about their investment. Or so we hope. Fannie Mae and Freddie Mac do not allow financing to buyers in condo towers where they exceed the 25% limit on rentals. According to my calcualtions with 401 units, that means up to 100 homes could be investor owned, or rentals. With this announcement by ST Residential, there’s some 20 homes left, but one would suspect that some of those investor slots may have already been taken.

The Atlantic is not the first building to make this move. 1010 Midtown and neighboring 1065 Peachtree also made conversions to rentals. 1010 converted 43 of its 430 homes in 2009, and 52 homes at 1065 Peachtree in 2010. (Note, for those of you that are not familiar with WHAT or WHERE 1065 Peachtree is, these are the condos located above the Loews’ Midtown Atlanta hotel. None of these homes were ever sold to my knowledge.)

The Atlantic is a truly beautiful and landmark Midtown Atlanta building. While the real estate market has caused most of it’s challenges, many condo buyers have been leary of making an Atlantic Station purchase with the reputation the area had received for crime and other activities. North American Properties purchased the retail-portion of Atlantic Station last year and has set about on an ambitious mission to change that perception (and some of its reality.)

Challenges in selling condominiums has given rise to two new apartment towers, both located on 12th Street in Midtown Atlanta. Daniel Corporation and Selig Enterprises have begun construction on a 22-story apartment building just behind 1010 Midtown, and on 12th and West Peachtree Streets, former condo king, Novare Group led by Jim Borders is developing the Sky House apartment building.

At some point in the future, these buildings could become conversions to condos, but with a lack of higher quality rentals in the Midtown Atlanta marketplace, they may remaining apartment buildings for sometime. Time will tell.

For More Information on how we can best serve your InTown Atlanta Real Estate needs, please fill out the online contact form or call us at 770.713.1505. We specialize in InTown Atlanta Real Estatesingle family homes and condomiums. If you are planning to Buy InTown Atlanta real estate, let us help you explore all the possibilities available to you and help you find just the right home you will LOVE! Please use the following links to Search for Homes by Intown Atlanta Neighborhoods or Zip codes!

Are you looking for a specific Intown Atlanta neighborhood to focus on? Contact Thomas Ramon Realty and we can set up a search for any specific neighborhood you are looking for!

APD Solutions is a neighborhood revitalization firm. It helps by restoring homes in certain neighborhoods, enabling owner occupant buyers to get into those homes, and creating a sense of renewal in each neighborhood it touches. Both public and private funds are invested into the work of APD Solutions, and APD Solutions has enjoyed tremendous success though the leadership admits there is still much work to do.

The group is seriously commited to getting buyers into homes and working with credit challenged buyers. They have down payment assistance in some areas for as much as $25,000.

Last week APD Solutions took time out to celebrate its success and honors folks who have worked closely with them in the real estate industry. They held a holiday party at Atlantic Station in the 171 17th Street building, and it was a wonderful gathering. I enjoyed meeting new people (names I see in the MLS being matched with faces) and catching up with collegeaus.

For more information about APD Solutions and the work this organization is doing to help in the recovery of the housing market, visit the APD Solutions website or call their office at 404 921 3131. APD Solutions is headquartered in Atlanta GA and has offices in Chicago, Dallas, Jacksonville and SanFrancisco.

For more information about metro Atlanta real estate, please give me a call at 404 246 3210. Thank you!

IKEA at Atlantic Station held its annual Julboard Christmas Dinner on December 9th, and diners were treated to a plethora of delicious dishes with a Swedish origin. IKEA at Atlantic Station is a destination for travelers all over Georgia and in adjacent states.

There is a dining room in the super home store that features wonderful entrees for shoppers at great prices. Whether you're hungry for breakfast, lunch or dinner, IKEA at Atlantic Station has food for you. The Christmas Julbord Dinner was held in the dining room.

During the Julboard Christmas Dinner, the kitchen staff at IKEA Atlantic Station goes all out prepping and cooking throughout the day. For $9.99, guests were able to partake of the vast preparation of appetizers, entrees and desserts. I'm a fan of IKEA's Swedish meatballs and mashed potatoes topped with a hearty gravy. Try it if you make the trip to IKEA at Atlantic Station.

IKEA at Atlantic Station is open from 10AM to 9PM daily and is easy to locate. Just exit at 17th Street from Interstate 85 and travel west for three blocks. The address is 441 16th Street NW, Atlanta, GA 30363. You cannot miss the blue building and the big yellow letters that spell IKEA. Atlantic Station is a favorite live, work and play area near downtown Atlanta. You can also call (404) 745-4532 or go here.

And check out the IKEA Family membership program at IKEA Atlantic Station. Members get awesome discounts each month on different products.

Are you a condo or a loft? A townhome or a freestanding single family type? Are you a concierge-serviced luxury residence or a blue collar live-work unit? Or are you a modern house with a rooftop deck?

Whatever your flavor, you can find it at Atlanta's Atlantic Station. But leave the car at home. Atlantic Station is pedestrian friendly. Walk to Publix, stroll to Ikea, ride a bike to Target. Take your lunch and eat it at the park. Then go window shop at West Elm. On your way back home, stop at the movie theatre and catch a flick before relaxing for a night cap in the lounge at the Twelve Hotel. This is what it is like to live at Atlantic Station.

This remodeled (redeveloped) brownfield which rose out of the Atlantic Steel Mill ashes received a “green” makeover and upgrades galore to emerge as a desired live-work-play destination. Situated in the western heart of midtown Atlanta, Atlantic Station offers a variety of lifestyle choices and has become one of Atlanta’s hottest Intown neighborhoods. Truly a mini city within The City, Atlantic Station has everything you need at your footsteps.

Lofts sit atop retail, condos sit atop a hotel, live-work townhome units line the landscape, and never-used luxurious modern detached homes dot the perimeter. And if you’re not quite ready to buy your home at Atlantic Station, simply cross the bridge and you’ll find a selection of apartment homes just loaded with amenities. Atlantic Station home buyers will find all price ranges and tastes accommodated. Atlantic Station home sellers are unloading condos through Atlantic Station shorts sales as low as $57,000 and marketing brand new Atlantic Station modern houses at just under a million dollars.

Why Buy A Home at Atlantic Station? It’s a convenient place with a fun atmosphere and a cool address. Due to the fallout from foreclosures and short sales along with an abundance of newly built units quickly followed by the houseing crash, depressed prices reign. There will never be a better chance to pick up a nice, newer condo at a short sale or foreclosure price, OR to purchase a brand new, state-of-the-art, 3-story modern home with elevator, rooftop, and views that go on forever. Atlantic Station Market outlook: Bargains, Bargains, Bargains!

To make Atlantic Station your destination, or to inquire about short selling your Atlantic Station home, call me at 770-475-1130 x4486.

Copyright Cheryl Dukes, Solid Source Realty, Inc. - 2011 All Rights Reserved, Atlantic Station - Your Live-Work-Play Destination. This is number 5 in a series about interesting places to live in and around Atlanta. (See previous posts about Glenwood Park, Edgewood Atlanta, Guilford Forest and Country Club of the South.)