Home Buying in 30315>Question Details

Christmas, Home Buyer in 30315

I am recently divorced woman, and I would like to find out if Ormond street is recommended.

Asked by Christmas, 30315 Tue Sep 14, 2010

My max budget is $125K

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21
Well I checked out Ormond Street, and it's not for me. Unfortunately, I can't afford the homes that I like. I asked a guy who was walking his dog how was the area and he said so-so. He also went on to mention that his car got broken into. So, I decided to visit Ormewood Park, and I spoke to one neighbour who said break in's only happens at night. That certainly didn't make me feel any better. I plan to check out Reynolds/Cabbage Town etc and see if it's any different. Hopefully, I'll be able to zoom in on a well priced, attractive and most importantly safe home soon. If not, I'll stay in my current area. Thanks Guys!
1 vote Thank Flag Link Mon Sep 20, 2010
I think there are better areas. I might consider a condo as well - there are many good, secure complexes and God knows 125K will get you a nice unit. While I'm normally dead set against condos - this might be a resonable option for you.

I've appraised many in the area - let me know if you need opinions.

Hank
1 vote Thank Flag Link Wed Sep 15, 2010
Christmas - have you made some progress in the past 2 weeks?

I'm a 12 year veteran Intown neighbor and I've been up and down your target area with clients. Hank's advice is sound - condo, loft or townhome living is much better suited for your budget and your general criteria.

I like Ormond - not my favorite street in GP/Sunmmerhill but it's OK. However, at your price point it's not where I would invest.

Rtown/Ctown - same basic issues.

Ormewood - the southside of OP will meet your budget, but living between the Foxey Lady Lounge and the Pen may not meet your distinct goals.

Your price will probably not deliver what you seem to seek, but if you open up to a nice condo, loft or townhome community, then wow - I'll just name one - Candler Park Condominiums on the corner of Candler and McLendon - pool, parkside, walk to golf, walk to L5P, walk to the heart of CP...and get a 2/1 for $125K if you know how to structure an attractive offer.

I'll buy you a drink on the rooftop at Six Feet Under if you want to talk things over with The Intown Insider...
Web Reference: http://intowninsider.com/
0 votes Thank Flag Link Mon Oct 4, 2010
Let me save you a trip - I don't believe you will be too impressed with Reynoldstown or Cabbage Town from a crime and safety standpoint either. There ARE areas nearby that can work for you - if you know where to look.

So, instead of hiring your own Buyers Expert to represent, protect, and assist you, which as Aaron points out below is free, you have decided to continue to use the limited resources you have, and if you don't find a home on your own give up and stay put - miss out on one of the best markets of all time? If you are truely a serious buyer, I find that hard to understand?

That is like someone offering to provide you a lawyer for free, but instead you going to court on your own to try and fend for yourself!

If you change your mind, you are lucky in that you don't have to look very far - you already have some of the best Buyer Brokers or agents in Atlanta on this page to interview and consider to represent you.

Good Luck,

Robert Whitfield
Broker/Owner - Realtor
Professional Buyers Broker
Relocation Expert
ICC Code Certified Building Inspection Expert
Advantage Realtors
678-585-9691
877-787-7167
“Know if the property is a Real Find or a Real Financial Risk - Before you submit your offer!
0 votes Thank Flag Link Tue Sep 21, 2010
It is also not a bad idea to hire Free service to do all that for you. That is what Realtors do. All you have to do is commit to a Free service of a Realtor, and you'll be happy ever after.
0 votes Thank Flag Link Tue Sep 21, 2010
Hi Christmas,

We haven't heard for you lately - just wanted to check in and see if we answered your questions adequately. I would be happy to give you sound guidance - see my replies below which describe my value proposition and don't hesitate to contact me to discuss the best way to assure you purchase the best home available in any area you like.

Regards,

Robert Whitfield
Broker/Owner - Realtor
Professional Buyers Broker
Relocation Expert
ICC Code Certified Building Inspection Expert
Advantage Realtors
678-585-9691
877-787-7167
“Know if the property is a Deal or a Money Pit - Before you submit your offer!”
0 votes Thank Flag Link Fri Sep 17, 2010
You're best bet is to go drive around the area during the day, afternoon and especially at night. See how YOU feel in that area. Someone can tell you its the best place known to mankind but 1 week later a robbery might happen and you want to move out. Another best bet is to call your local police department.

Hope this helps and good luck :)
0 votes Thank Flag Link Thu Sep 16, 2010
Hi Christmas,

Stephanie is partly right, very few Condos are on the Approved list for FHA loans (not conventional) which is a complete reversal of how it was 2 years ago. If you have 20% to put down you can still do a conventional loan for a Condo "as long as the Condo is warrantable" - meaning the MI company will insure it. MI (mortgage insurance) companies have gotten much tougher in the last 10 months on all loans and especially on approving condo loans. There used to be a process called a Spot Approval for Condo buyers using FHA loans, which many Condo Associations did not want to do all the required work just for one buyer! I personally gathered the necessary data on a 400 unit Condo developement and completed one of the last Spot Approvals in Atlanta to get my buyers loan approved the day before the Spot Approval program was terminated last year. Now there is a new and similar Condo approval program call the Delrap, however the lender can not approve it like they did with the old Spot Approval program - HUD has to approve all Delrap's - so IF it gets approved it can take longer to close.

Now, having said all that, like Hank, I do not recommend Condo's except in very unusual circumstances where it meet the clients objectives perfectly and in cases where the Condo is also located in a stellar area such as Emory/Druid Hills or Ansley Park. There are a varitety of reasons why Condos will not perform as well or be as safe an investment as a single family home even in a good market, and for that reason I would do my best to show you all available single family home options before suggesting Condos. Condos require a good bit more due diligence than single family homes to assure a sound investment - its not just about the unit, or the price, or the appraisal - its also about the financial stability of the Condo Association, and how well Association Fees are being paid etc. If you think sellers have it bad now, and they do - try being a Condo seller! You can't sell your property if the lender won't give willing buyers a loan - you're stuck!

Don't hesitate to contact me if you have any questions or need immediate assistance.

Regards,

Robert Whitfield
Broker/Owner - Realtor
Professional Buyers Broker
Relocation Expert
ICC Code Certified Building Inspection Expert
Advantage Realtors
678-585-9691
877-787-7167
“Know if the property is a Deal or a Money Pit - Before you submit your offer!”
0 votes Thank Flag Link Thu Sep 16, 2010
Good point Stephanie. There are exceptions that can be granted though, I've done that a few times with experienced lenders. It takes a little navigating but when you find a decision maker it can be done.
0 votes Thank Flag Link Thu Sep 16, 2010
Dear Christmas. Before putting an offer on any condo in the Atlanta area, check with the lender to be certain that it is on one of the approved lists. I learned last week that MOST condos have been removed from the approved list for conventional financing, even with 20% down. There are literally just a handful of approved condos in Atlanta.
I was told that you can finance FHA if it's on their approved list but even if you have 20% down you are still likely to be required to pay the MIP. Save yourself some grief if condos are on your radar and do some research on this point first. Good luck.
0 votes Thank Flag Link Thu Sep 16, 2010
I would be happy to discuss your situation and provide some advice and options on areas that you can enjoy living in without fear of crime and help you make a sound investment as well. This is the ideal time to buy, the key is making the right choices - starting with a Buyers Broker who will give you the good and the not so good about any home or neighborhood - including advice about which homes you DO NOT want to buy - in other words a Broker you can trust.

For the maximum amount of property information available, check out our Wise Buyer Programâ„¢ - it provides every purchaser over $5000 worth of free home structural and major systems analysis in addition to full market data and top buyer representation. There is nothing else like it in Atlanta - with this system you are more informed because you know what you are buying - Before you ever submit your offer! Purchase decisions and which home to buy at which price become very clear and easy once you have enough information. Providing more information is the hallmark of my service. This unique and comprehensive approach of analyzing real estate investments from multiple perspectives has many significant advantages over all ordinary house hunting approaches - for more information, see the site below.

Don't hesitate to contact me if you have any questions or need immediate assistance.

Regards,

Robert Whitfield
Broker/Owner - Realtor
Professional Buyers Broker
Relocation Expert
ICC Code Certified Building Inspection Expert
Advantage Realtors
678-585-9691
877-787-7167
“Know if the property is a Deal or a Money Pit - Before you submit your offer!”
0 votes Thank Flag Link Thu Sep 16, 2010
The area around Grant Park has been desireable for some time now, but I will not automatically say this is a good area for you. I suggest you drive throught the area at various times of the day, including the late evening and see how you feel - are you ok with what you see, or are you glad you are in your car and not walking? Also visit the Atlanta Police Dept Zone 3 post on the SW corner of Grant Park at Atlanta Ave and Cherokee Ave and see what they say about crime in the area.

Crime does happen everywhere - but some places are far worse than others - do research to find out how you feel there - not how some agent feels about it.

My Wise Buyer Program provides over $5000 worth of free home structural and major systems analysis in addition to top buyer representation. There is nothing else like it in Atlanta - with this system you are more informed because you know what you are buying Before you ever submit your offer! That approach has many significant benefits - for more information, see the site below.

Don't hesitate to contact me if you have further questions or need immediate assistance.

Regards,

Robert Whitfield
Broker/Owner - Realtor
Professional Buyers Broker
Relocation Expert
ICC Code Certified Building Inspection Expert
Advantage Realtors
678-585-9691
877-787-7167
“Know if the property is a Deal or a Money Pit - Before you submit your offer!”
0 votes Thank Flag Link Wed Sep 15, 2010
HI Christmas, check out fha rates for your new home purchase. http://www.fha-rates-today.com
0 votes Thank Flag Link Tue Sep 14, 2010
Hello again,

I just realized you can find the answers right here on Trulia. At the top of the page clck on stats & trends, it gives different statistics about the neighborhood.
0 votes Thank Flag Link Tue Sep 14, 2010
The best way to find out that type of information is to use a source like city data (link below) or call the local precinct and ask for their statistical data.
Web Reference: http://www.city-data.com/
0 votes Thank Flag Link Tue Sep 14, 2010
Recommended for a single woman. Where I live now, I don't have to secure my A/C, and I can go walking at night. Could I do that if I move to Ormond? I know crime happens everywhere, but I don't want to be afraid in my home.
0 votes Thank Flag Link Tue Sep 14, 2010
I highly recommend it, and any area you may chose to live.
0 votes Thank Flag Link Tue Sep 14, 2010
Hello Christmans,

zipskinny will give you census data for that zip code. If you would like more information email me at priscilla@realestate4u.biz.
I hope this helps.
0 votes Thank Flag Link Tue Sep 14, 2010
Recomended for what? More detail would be helpful
0 votes Thank Flag Link Tue Sep 14, 2010
Good Afternoon,

There are approximately 9 or 10 active homes on both SE and SW Ormond Street. I would be happy to email you the Home Listings so you can see the different types of homes available on this street. If you would like to see the Home Listing Reports email me at repayne7@bellsouth.net with your contact information and I will send you the information.

I look forward to hearing back from you soon.

Regards,

Rick Payne
Keller Williams Realty
0 votes Thank Flag Link Tue Sep 14, 2010
Recommended for divorcees, Christmas? There are over a dozen active listings ranging in price from $425k down to $45K. Please let me know if you need other information. Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.SellsRealty.org
0 votes Thank Flag Link Tue Sep 14, 2010
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