Sandy Springs, GA

We've seen a lot of downward activity in terms of price and units sold in the Atlanta Metro area over the past 18 months. While there is possibly more shake out happening, there are some great indicators that the downward trends are moderating. For instance, April to May statistics in Atlanta by SmartNumbers showed a .4% reduction in price month to month for 2009. Also, even more interestingly, fewer homes have been listed, expired and withdrawn.

On the flip side we have started to see interest rates inching up from mid 4% to low to mid 5%. This makes a huge difference in what a home "costs" you. Let's look at an example. Say you are buying a home for $480,000 and taking a $400,000 mortgage. If the interest rate is 5%, just the interest payment alone is $2,000. Should the interest rate increase to 7% that same payment of just interest would climb to $2,800. As inflation is expected, this is probably not out of the question in the next year. Along that same line, if the interest rate climbed to 9%, the interest portion of the payment would be $3,600. None of these figures includes the principal or taxes payments would be fixed for all three of those interest rates.

To make money in real estate you need to buy low and great a great rate. If we are at, close to or just past the bottom of the market, the next biggest factor is the interest rate. This will dramatically affect what you can buy. Along these same lines, our supply of inventory is decreasing and demand is holding steady if not very slightly increasing. More and more agents I talk with have business and are going to closings. (This was not the case six months ago.)

Having said all this it only makes sense to buy if you DO NOT have a house to sell and can get a great deal on the house you buy as well as a great rate. If you do have a house to sell, sell it, rent for a temporary period and then buy when all the cash is in the bank.

Chastain Park Condominums are Metro Atlanta's premiere real estate housing for the first-time homebuyer in the Sandy Springs area. Beyond the perk of being within walking distance to Chastain Park Amphitheater (www.classicchastain.com), where the great music and entertainment is soul-stirring, Chastain Park Condos features a state-of-the-art fitness center, clubhouse, and pool all within walking distance to Buckhead restaurants and shops. There are currently 1 and 2-bedroom floorplans available priced from the low $100,000s to the mid-$100,000s. Each unit has its own custom features so you may find maple hardwood floors or pine, dark granite countertops or light granite countertops - in essence, you must see the units to decide what would be a good fit for your first home and real estate acquisition.

What more details about the real estate community of Chastain Park Condominums? Contact places2love@gmail.com or call 404.444.5777. Happy House Hunting!

Have you ever wished someone would match you dollar for dollar on your savings for your next home purchase? Well, the Atlanta Federal Home Loan Bank (FHLBank) does something even better. It matches 5 to 1, meaning if you have saved $1000 towards an home purchase, you can get $5000!

The FHLBank homebuyer grant has a $10,000 maximum grant but this would definitely help any would-be buyer. As an added perk, this grant does not require any payments, has no interest, and is forgivable. And the best part is that this program (as of 6/23/09) has $6,922,175.57 funds available. So if you are saddened that the GA DREAM NSP program is already out of funds (they do have a waiting list you can register for), the FHLBank grant may be even better!

Do you qualify? Visit http://corp.fhlbatl.com/CommunityInvestment.aspx?id=118. If you need to know what lenders offer the FHLBank grant, contact places2love@gmail.com or 404.444.5777.

Happy House Hunting!

As you pass exit 5 for Abernathy Rd. in Sandy Springs on GA 400, you may have noticed the construction of a new real estate community over the past year. Well I drove past it the other day and it finally seems done. So being just a wee-bit curious, I had to check it out and let you know the scope.

Sandy Springs' latest real estate community, the Serrano - coined as Atlanta's Mediterranean Village - is perfectly located off GA 400 extremely close to Perimeter Place, Perimeter Mall, I-285, Roswell Rd. and just a few exits to Buckhead, Midtown and downtown. Although it is close to city life, this real estate complex has been built to be as all-inclusive as possible. Serrano plans to lease and sale retail space to an assortment of shops and restaurants. Moreover, Serrano's real estate community features a movie theater, clubhouse with full kitchen, lounge, double-sided fireplace, fitness center with saunas, business center with conference room, outdoor fireplace and pool, secured parking garage and even private storage rooms.

Serrano's condo units have many high-end features that any condo-dweller would love. From the granite countertops, to the stainless steel appliances, to the pristine hardwood floors, you will be glad to call this community home, whether you opt for the 1, 2, or 3 bedroom floorplans starting in the $300,000.

Want to know about the special incentives offered or just want more details about Sandy Springs' Serrano community? Email places2love@gmail.com or call 404.444.5777 for more information.

Happy house-hunting!

"Simply stunning" is the way so many describe the Mystic Ridge real estate community off Roswell Rd. in Sandy Springs, only 2-3 minutes north of Buckhead. What makes Mystic Ridge ideal real estate? Beyond its superb Sandy Springs location inside the Perimeter and nationally recognized school district (home to Riverwood High School), the townhomes are fabulous!

This Metro Atlanta gated real estate community features brick homes that have 10-foot trey ceilings, finished terrace/basement level with a bonus room, spacious decks with outdoor stone fireplaces, stainless steel appliances, granite countertops, oversized master, separate dining & living rooms, and even room for a home elevator. These 2-car garage townhouses feature 3- and 4-bedroom floorplans currently ranging in price from $399,000 to $439,900.

Want to view Sandy Springs' Mystic Ridge townhomes or just want more details? Contact 404.444.5777 or places2love@gmail.com.

Happy House-Hunting!