Decatur
{ Friday, March 16th, 2012 }
Emory Match Day
Medical School students all over the country are participating in an annual rite of passage today: Match Day. Approximately 16,000 graduates from U.S. medical schools and 15,000 graduates from osteopathic or foreign medical schools compete each year for approximately 24,000 residency positions at U.S. hospitals. And today – Match Day – is when they all find out where they’re headed for further training.
To the Emory students who will be matriculating to training programs outside our fair city, I wish you the best of luck in your future endeavors. May you evolve into outstanding physicians.
To physicians who have been fortunate enough to be “matched” with Emory University… mazel tov! On behalf of Atlanta, welcome to our outstanding city. As you may be training and living in Atlanta for many years to come, consider me as a resource for finding the perfect place to live. While I know that many of you are strongly considering renting, don’t rule out home ownership. Prices have ebbed to dramatic lows, interest rates are insane, and as a physician you qualify for loan programs that the rest of us mere mortals have no access to. That being said, here are some quick housing/neighborhood recommendations for you:
1-You’re thinking: “I’m going to spend a few years shuttling back and forth between Emory University Hospital and Grady Hospital, and I need something in between the two.”
I’m responding: Inman Park. Specifically, my one bedroom condo listing at Brickworks. Two miles to Grady and four miles to Emory. Phenomenal community that’s walking distance to restaurants, bars and coffee shops. Perfect for the 4 hours of free time per week that you have to look forward to!
2-You’re thinking: “I’m relocating from Boston, where I’m used to walking everywhere. My week is going to be spent primarily at Emory, so I’d like to be as close to Emory as possible without being near a dorm.”
I’m responding: Decatur all the way. Tons to do, and some great options under $250,000.
3-You’re thinking: “I really need some space- a couple of bedrooms and a yard. I don’t care if I’m a few minutes from Emory, so long as I can buy a 3 bedroom, 2 bathroom home for under $300,000. Oh, and as long as you’re asking, I’m really interested in mid-century modern architecture.
I’m responding: We need to take a drive up to the Northcrest subdivision, located right at the junction of I-285 and I-85. Perfectly situated on two of Atlanta’s primary highways, you’re looking at a twenty minute drive to the hospital. If mid-century is your game, than this is the neighborhood for you. You’ll love it.
4-You’re thinking: “You seem incredibly knowledgable, the perfect real estate person to help me find a new home in Atlanta. How do we move forward?”
I’m responding: That’s an awfully nice thing to say! I’d love to assist you. Here’s my contact information- be in touch at your convenience!
{ Wednesday, March 14th, 2012 }
Decatur 101
I’ve never been one to keep my feelings for Decatur a secret. Decatur was my “Atlanta Real Estate Sub Market Of The Year” in 2011, which coincidentally was the second year that I waited patiently on the waiting list for the incredibly awesome and informative Decatur 101 class that the city conducts. Decatur 101 is, as the binder above so accurately denotes above, “Everything you need to know about Decatur”. For the next eight weeks, here’s our agenda:
1. Decatur Police Station and Municipal Court- Meet the Mayor, city historian, Police and Fire Chief.
2. Decatur City Hall- Meet the City Manager, learn how Decatur operates from a finance/operations/human resources perspective.
3. Smart Growth Walking Tour of Downtown Decatur
4. Public Works Building- This is our next class- I’m assuming I’m going to learn a ton about sidewalks, storm drainage and sewers.
6. Decatur City Commission Work Session
And the verdict?
Fantastic class. Yes, I show Decatur a ton of love… but this class is showing me a completely different side of the city. Really a must attend for any Decatur residents… and a must-avoid for any of you who are already in a constant state of Decatur-envy.
I am in the process of working on DisForDecatur…
{ Friday, February 24th, 2012 }
The Best Value In Kirkwood
How do I know that 283 Sisson is best value in Kirkwood? If you’re looking for me to back up the puffery, then so be it. I’m game.
Let me start my narrative with a little background on the location of this home- it’s less than a mile from Oakhurst Village, right down the block from one of the best brunches in town, Sun In My Belly:
If Oakhurst Village isn’t your bag – and I can’t imagine why it wouldn’t be – take solace in the fact that you’re just a few right and left turns from Kirkwood Village. Of course, Decatur isn’t too far away and the always reliable Edgewood Retail District is within shouting distance.
The house itself, priced at $249,900 was completely renovated just a few years ago. And I mean complete, head-to-toe renovation: new roof, siding, floors, kitchen (appliances, cabinets, granite counters, etc.), bathrooms, HVAC system, plumbing and electrical.
While all that new stuff is certainly a huge selling point, the fact remains that the “old home” charm and beauty take center stage. Just a few pictures, to whet your appetite:
Looking for a 3 bedroom, 2 bathroom home in a phenomenal intown neighborhood? This could be the one. Check out more info on the vFlyer, or, contact me directly to schedule a showing.
{ Friday, December 23rd, 2011 }
Decatur: The Atlanta Real Estate Sub Market of the Year
I recently contributed to Curbed Atlanta for their 2011 Curbed Awards. My piece, in its entirety: Best Atlanta Sub-Market Bucking the Housing Trends With An Even Brighter Future: Decatur.
The highlights, below:
While the big real estate headlines tend to focus on a macro-view of the market (I’m looking at you, Case-Shiller), there are plenty of sub-markets that are defying the trends. There’s perhaps no brighter star in the Atlanta metro market right now than Decatur. In Decatur, the average sales price rose from $348,538 to $362,624 from 2010 to 2011. A 4% bump in average sales price for single family homes isn’t too shabby, nor is the 6% increase in total sales volume (209 sales in 2010, YTD vs. 223 in 2011). And if rising real estate prices aren’t enough for you, Decatur is set to reap the greatest rewards if the region approves the penny tax in the upcoming T-SPLOST vote. Decatur will benefit from the two largest projects on the list: a MARTA line that will connect downtown Decatur to Emory and Buckhead, and access via the eastbound MARTA line to light rail on the Atlanta BeltLine’s east side. If the T-SPLOST is passed and the projects move forward, the city will become an even more attractive housing market to those looking for a home located in a slice of Atlanta that’s actually friendly to pedestrian and mass transit.
Photo/Edit Credit: Curbed Atlanta
{ Wednesday, October 12th, 2011 }
Candler Park Real Estate Market Update
Candler Park may not be one of Atlanta’s largest neighborhoods, but it more than makes up for it in amenities. It’s always been an Atlanta neighborhood that passed the “smell test” for me- only a few minutes walking its streets and you know that you’re in a community that’s more than just a collection of homes.
The neighborhood features two parks (the 55 acre Candler Park as well as neighboring Freedom Park), a public golf course, swimming pool and tennis courts. Highly acclaimed Mary Lin Elementary is the neighborhood’s darling, and with close access to Downtown Atlanta, Emory and Decatur, Candler Park residents enjoy phenomenal access to multiple employment centers.
All that said, let’s get at the heart of the matter: how’s the real estate market looking? A quick look back at Q1 and Q2 sales (Jan.1-June 30) over the past five years:
| Year | # of Sales | Avg. Sales Price | Avg. Days On Market | Avg. SP/LP | $500k+ | % 500K + |
| 2007 | 34 | $443,997 | 59 | 95% | 6 | 18% |
| 2008 | 33 | $436,093 | 45 | 96% | 8 | 24% |
| 2009 | 21 | $456,529 | 90 | 91% | 6 | 29% |
| 2010 | 22 | $388,405 | 75 | 92% | 2 | 14% |
| 2011 | 18 | $387,972 | 116 | 91% | 2 | 11% |
So, what do all of those numbers really mean?
1. In terms of total sales volume, things really fell off a cliff from 2008 to 2009. As noted in my Decatur Real Estate update, I think that it can be attributed to the hangover/unintended consequences of the First Time Homebuyer Tax Credit.
2. I made a point of counting all home sales $500,000+, as well as their % of total sales. Infill development- tearing down and rebuilding- made a significant impression on the market in the boom years. In this particular sub market, that translated to more homes selling for over $500,000 from 2007-2009. Of course, when the global economy mutated, home builders and banks became much less enthusiastic about building new homes on speculation. To focus solely on the median sales price without noting the collapse in inventory of new construction would be somewhat misleading.
3. Today’s home seller needs to adjust their expectations. In five years, that Average Days On Market has gone from 59 to 116… and this is just for the homes that have sold! Average List Price/Sales Price ratio has also dipped precipitously, and it’s likely that the number of homes that expired without selling also skyrocketed (a statistic not measured as a part of this exercise).
4. Prices have stayed consistent over the last two years, but are still down 13% from 2007.
A few footnotes:
1. This search includes all detached, single family homes in Candler Park. This means no townhomes or condominiums.
2. All data courtesy of FMLS. While I searched by neighborhood, I also cross-referenced by map, to ensure that I wasn’t accounting for any homes that were “mislabled” by the listing agent. You’d be surprised to know that there were homes in neighboring Edgewood and Poncey Highland that were “masquerading” under the Candler Park moniker.
3. I’ve chosen not to include the most recent data- Q3 (July-Sept.) because it often takes a few weeks for all sales to be finalized by the listing agent in the FMLS database. I just didn’t think I’d be able to produce an “apples to apples” comparison by including the most recent data.
