Showing posts with label Atlanta. Show all posts
Showing posts with label Atlanta. Show all posts

Monday, June 27, 2011

Moving to Atlanta - 25 Things You Want to Know

Moving to Atlanta
25 Things You Want to Know




So, you’re moving to Atlanta? Here are 25 things you may want to know:

1. To many people that live and reside in the City of Atlanta, they consider any areas inside the Perimeter (I-285) to be the “City.” Others feel that Downtown, Midtown, Buckhead and nearby surrounding areas are only the “City.”

2. I-285 is that circle you see on the map when you are looking at Atlanta on the map. It makes a complete loop around and joins up with the interstates.

3. I-20 runs east and west.

4. I-75 and I-85 run north and south.

5. Downtown, Midtown and Buckhead are just minutes apart and not at all like Manhattan. On a quiet Sunday morning you can reach Downtown to Midtown in less than 5 minutes. Downtown to Buckhead will take about 15 minutes on a quiet morning.

6. Peachtree Street runs north and south between the City. There are probably at least 50 streets with the name Peachtree in it throughout Atlanta (Place, Road, Street, Way, etc.).

7. Nearby little and very fun areas surrounding the City are Virginia Highlands, Poncey Highlands, Cabbagetown, Little 5 Points, Castleberry, Home Park, Loring Heights, and Brookhaven to name a few. Most of these are just minutes from the central core of the City.

8. When you are eligible for a "homestead" exemption on your property, you will get a discount of $30,000 off the value of your property in computing ad valorem taxes.

9. MARTA is Atlanta’s mass transportation; they are buses and trains. They have numerous stops and it is easy to get around the City using either one of these. MARTA trains are particularly useful when going to the airport. You can take the train and get off directly at the Delta terminal.

10. Within the areas of Downtown, Midtown and Buckhead, the cab rides are considered “zones.” You pay for your trip from one zone to another, so you avoid the “meter ticking.”

11. The sales tax within the City of Atlanta is 8%, which is broken up as follows: 4% for the State of Georgia, 3% for Fulton County and 1% for the City of Atlanta. Thus, if you purchased something in Fulton County but not in the limits of the City of Atlanta, your sales tax would only be 7%. Other counties such as Gwinnett are even lower at 6%.

12. Your automobile tags are due on your birthday. The amount you pay to for your tags is based on the "value" of your automobile. This was a big shock for us when we moved to Atlanta. So, the newer the car, as well as the type of car, will determine what you will pay for your auto tags. The good news though is that these fees decrease as your vehicle ages.

13. The main power supply company is Georgia Power. There are some small electric companies such as ISTA and there are a few condo buildings within the City of Atlanta that use ISTA.

14. The City of Atlanta Water Department is the municipality for your water source.

15. Comcast is the biggest supplier of cable and high speed internet; although there are a few others you can choose from.

16. MetroPCS works in the City of Atlanta. We also have Verizon and AT&T.

17. In Atlanta, you have to dial the area code along with the phone number to make a local call. In being from another state, it did take me a while to get used to that. The main phone number exchange is 404, although some people do have 770 and 678 as their exchanges.

18. If you move to a condo that is short on storage space, there are plenty of storage companies within the City.

19. The more prominent super markets are Publix and Kroger’s. There are other wonderful places such as Whole Foods and Fresh Market.

20. Walmart, Target, Costco and Sam's Club are all in the area or nearby vicinity.

21. CVS is the most prominent drug store in the area, some of which are 24-hour stores. We also have Rite-Aid, which formerly were Eckerd’s, and other some smaller pharmacies.

22. The biggest newspaper in Atlanta is the Atlanta Journal Constitution. We also have Creative Loafing, Atlanta Business Chronicle, along with others.

23. Within the "City" we have the High Museum, The Fox Theatre, the Alliance Theatre, History Museum, the Carter Museum, the Martin Luther King Memorial, and so much more. There's culture abound!

24. The City of Atlanta is home to the Georgia Dome, Turner Field, CNN, the Convention Center, The Governor's Mansion, and state assembly. That Gold Dome you see on the horizon is where all the legislative bodies meet since Atlanta is Georgia's State Capitol.

25. Piedmont Park is Atlanta’s NYC Central Park. Our residents thoroughly enjoy and make use of it from playing ball, with their dogs, outdoor concerts and movies, art shows and so much more. It is very “alive” during the spring and summer months, and when we have snow, it is the place most people go to for sliding down the hills and making snow angels.

Atlanta is a wonderful, fun and vibrant City filled with a diverse group of people from all walks of life. We have plenty of great restaurants, cultural activities and events that fill the calendar. It’s the New York of the South with a lot of charm!

Pat Mistretta, REALTOR
Your City and Loft Specialist
Morris & Raper Real Estate Consultants
http://loftsinatlanta.com/
http://atlantacityliving.com/
June 27, 2011

Copyright 2011 – all rights reserved
No portion of this document can be printed or used without the express permission of the author.


Tuesday, October 20, 2009

FHA loans - New guidelines

Many of you might not know that the FHA provides a lot of loans to buyer's who are not in a position to put down 5% to 20% of the sales price. Thus, FHA has been an integral part in getting many homeowner's into their homes.

As of November 2, 2009, due to the crazy mortgage market, the FHA is issuing new guidelines. Unfortunately, for condo purchasers, this will make buying a condo a lot more difficult.

To begin with, FHA requires that the condo you are purchasing be FHA approved. In some instances, a developer or condo association will get the entire development approved. However, the vast majority has not. In the past, even though the development was not FHA approved, FHA would do what is considered a "spot approval." In essence, they would approve the one condo being purchased provided it met various guidelines. This allowed a homeowner to purchase in a development that was not entirely approved by FHA. However, the new change will be that there will NO LONGER be spot approvals. That being said, it means that a condo you might want might not be FHA approved and you will not be able to get financing from them. The only recourse is for the condo association or developer to go through the approval process for the entire development. If they are smart, I expect many will start to do that.

You may not think this is a big deal, but it is. For all of the wonderful complexes in the Downtown, Midtown and Buckhead areas, only a handful are FHA approved. I was amazed at how many developments were NOT approved. If you are wondering which complexes are approved at this time, check out this link:

https://entp.hud.gov/idapp/html/condlook.cfm

The other changes that are planned are:

There now will be a maximum of 30% of all units in a complex that can be FHA financed. Previously, there was no cap. What this means is that you could decide to buy a condo in a particular complex, only to find out you are not approved because over 30% of the homeowners were financed with FHA. That could be not only a problem, but a big disappointment.

At least half of the units in a development must have been sold before you can get FHA financing. This can be a problem for new developments that have yet to reach this sales quota.

At least half of the units will have to be owner occupied. For a vast majority of the complexes in the metro Atlanta area, that is not a problem as the HOA normally has a cap of 20-25% rentals allowed. However, there are a few developments in metro Atlanta that do not have any caps. If you are interested in buying using FHA financing, I suggest you find out which complexes will not meet FHA requirements.

I realize that the mortgage industry needs to be tightened up. However, some of these FHA restrictions will make it more difficult for many great homebuyers to achieve their dreams of a condo.

Pat Mistretta
Copyright 2009

Follow me on Twitter: LoftsInAtlanta

Saturday, April 11, 2009

Sky Lofts

Sky Lofts is offering some great incentives for anyone interested. They have access to information regarding City funds and grants to be used as down payment, etc. Big discounts going on over there.