In addition to adopting a section of the Atlanta Beltline that runs through Virginia Highland, we have also adopted Homestead Park! This quiet, unassuming little green space lies in the Lenox/Morningside neighborhood. At just .15 acre, it is deemed a "garden" by the City of Atlanta and is located at the intersection of Meadowdale Ave. and Homestead Ave.
*Reprinted from huffingtonpost.com
A report released in August by mortgage and loan site HSH.com Looked at what salary families in 27 metro areas would need to afford the local median home price, including principal, interest, taxes and insurance.
The report assumes a buyer’s down payment is 20 percent and uses the lending standard that a monthly home payment shouldn’t be more than 28 percent of income. It relies on the National Association of Realtors’ quarterly data for single family home prices, and excludes condos and co-ops.
For more than a decade, Atlanta art and music lovers have flocked to Grant Park each August to bid adieu to summer at the Summer Shade Festival. Two days of outdoor fun planned for all ages including a 5K Run for the Park, food trucks, craft beer, an entertaining Kids Zone and a music line up that just gets better every year. You won’t want to miss the Sunday morning Grant Park Farmers Market. And did you know you can ride your bike to the festival and park it for free with the Atlanta Bicycle Coalition Bike Valet?
So, bring your blanket, bring the whole family, but please don’t bring any pets, and spend summer’s final weekend at the Grant Park Summer Shade Festival.
Each year, the Grant Park Summer Shade Festival supports the work of the Grant Park Conservancy, the organization responsible for maintaining the city’s oldest park. Thank you for attending, and we hope you enjoy your final hurrah of summer!
For additional information, visit http://www.summershadefestival.org
That's right. Homestead REALTORS has adopted a portion of the Atlanta Beltline that runs through Virginia Highland. About twice a month we hit the trail to pick up small debris, get some exercise, converse with neighbors and enjoy the wildlife. This past weekend, Realtor Ken Green along with his daughter Elizabeth were our 'Keep it Clean' Ambassadors.
AUGUST 13-14, 2016
Saturday: 10:00AM – 5:00PM
Sunday 11:00AM – 5:00PM
Rain or shine, this weekend marks the 8th annual Piedmont Park Arts Festival located in Atlanta’s largest park, Piedmont Park. 1215 Piedmont Avenue, Atlanta, GA 30309.
The Piedmont Park Summer Arts & Crafts Festival is a 2-day outdoor event with an emphasis on the visual arts and family fun presented by the Atlanta Foundation for Public Spaces, for people of all ages, races, customs and interests. The midtown community of Piedmont Park is considered to be home to one of the largest and most enthusiastic art buying communities in metro Atlanta. The Piedmont Park Summer Arts and craft festival bringing back the tradition to Atlanta’s arts community.
This event will feature up to 250 painters, photographers, sculptors, leather and metalwork, glass blowers, jewelers, and crafters! The Festival will also offer artist demonstrations, live acoustic music, an Emerging Artists Pavilion, a children’s play area, plus festival foods and beverages with healthy alternatives.
The 2016 Piedmont Park Summer Arts Festival is organized by the Atlanta Foundation for Public Spaces, LLC , who also partner with the fall fine arts Chastain Park Arts Festival and more than a dozen other events, along with a board of experts in various artistic disciplines. The festival will uphold the highest standards supporting the arts, and offer participating artists the environment to nurture appreciation for their skills.
*Reprinted from Atlanta Business Chronicle, July 29, 2016
Atlanta’s residential real estate market was booming in during the first half of 2016 but “the gridlock of inventory is the issue to watch” looking forward to the second half of the year.
Atlanta-based Dorsey Alston, Realtors reported home and condominium prices in Intown Atlanta (Ansley Park, Virginia-Highland, Morningside and Midtown) are up substantially over this time last year, while the number of listings is up across metro Atlanta.
Intown single family saw a marked increase in number of units on the market, up 19 percent, and experienced an 11 percent increase in average sold price to $710,624. Further evidence the condominium market is heating up, the increase in new intown listings was up 4 percent year-to-year, but the average sales price soared to a 23 percent increase, according to the company.
“The Intown market is strong,” Dorsey Alston broker Patrick Wood said in a statement. “It’s where people want to be, and because of the high-barrier-to-entry we haven’t seen as much new product delivered as in other areas.”
Dorsey Alston noted Brookhaven saw the average sold home price increase by 15 percent, while the number of listings coming on the market were up. Barely trailing Brookhaven is North Fulton, which includes Alpharetta, Roswell, Milton and Johns Creek. Those cities saw a 10 percent jump in average closed home price to $475,424, while the number of new listings is up 12 percent. East Cobb also saw an uptick in number of homes on the market while the average sales price climbed 4 percent over this time last year.
In just about every section of the metro area the number of new listings is up as homeowners look to take advantage of the climbing numbers. Sellers need to temper their expectations, however. While there are increases in home prices nearly across the board, in many cases the houses are selling for below their list price, the company added.
Alpharetta, Ga.-based RE/MAX of Georgia reported the median price for all homes sold during the first 6 months of 2016 was $219,100, which is 5 percent more than the median price of homes sold during that same period in 2015.
The company said the first 6 months of 2016 saw an 11 percent decrease in the number of closed transactions over sales during that same period in 2015 while the average days on the market for all homes sold in the first 6 months of 2016 was 56, which is 8 days less than the average the first 6 months of 2015.
The average number of months supply of inventory in the first 6 months of 2016 was 2.8, which is a 15 percent drop from the same period in 2015.
RE/MAX of Georgia Senior Vice President Jeanette Schneider said we are definitely seeing the impact that the tight supply of homes is having on the market.
“A normal market would have a 6-month supply of homes and right now we have about a 2.8-month supply,” she said in a statement. “The lack of inventory needed has helped push home prices up while closed sales have dipped from last year.”
Schneider noted the good news for sellers is home values are rising and most can anticipate moving their home quickly once it is on the market and at favorable price.
“One segment of the market that isn’t tracking for quick sales is the luxury market – homes that are priced at $500k or more,” she said. “Activity in that market is slower overall with fewer active buyers and homes sitting on the market longer.”
Looking forward, Schneider said the gridlock of inventory is the issue to watch as current homeowners are choosing not to put their home on the market due to concerns they won’t be able to find a home to move into when theirs sells quickly or since prices have increased they can no longer afford the move-up home in their current area.
“Overall we anticipate the second half of 2016 will see similar market conditions,” she said. “Interest rates will remain near where they are now and buyer demand will keep prices slowly moving upward. July activity has been strong and suggests a solid start to the second half of the year.”