Thibadeau Co., Inc. Midtown
CONDOMINIUMS AND TOWNHOMES: Condomania erupted in Atlanta in the seventies with a flurry of new starts and conversions of existing apartments. It gave way in the late eighties to a more permissive form of ownership knows as fee simple. The difference is sometimes hazy, except in the minds of some lenders, who still smart from a higher than normal foreclosure rate in condominiums.
The overall condominium/townhome market did an abrupt turnaround several years
ago. Once sedate Realtors were blasé about showing condos, showing little
concern about properties going under contract. Also few people in their right mind advised clients that a
condo would be a good investment. And
then boom, multiple contracts on individual units. This may be attributed to overall
increase in housing demand in Atlanta, and also soaring apartment rents.
Whatever, it is certainly healthier for buyer and seller alike.
While all the condominium and townhouse/home developments cannot be mentioned
here, a few key factors might be brought up concerning values. Location, of
course, is still a key in any real estate decision. Other considerations would be the strength of the homeowners
association, the depth of their reserve fund and what it has to cover, and
overall appearance. In purchasing
a new townhome, the buyer would be smart to determine if the fee established by
the developer is realistic (reality sets in when the homeowners take over.)
For your personal tour contact us
at
Thibadeau Co., Inc. 1549 Clairmont Rd. Suite 204 Decatur, Ga. 30033
(404) 325-3900 Email: leonthib@bellsouth.net