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AtlantalNtomnPaper.com
January 2018 I iNtown 17
to be high, the supply is less for buyers to choose from,
and, as we all know, when the demand is high but
supply is low, it continues to drive prices up.”
^ Mark Camp, associate broker with Berkshire
Hathaway HomeServices, Georgia Properties,
also notes an increase in price in Intown’s
housing market. “Prices are up just over five
percent from 2016 to 2017, according to
TrendGraphix,” said Camp. “The lack
of homes for sale has caused bidding
wars in some cases, along with
some homes selling for over asking
price.” He added that “homes that
are priced right and in ‘show-ready’
condition are selling the first week,
if not the first day the home goes on
the market.”
In such a competitive market
as this, developers and homeowner
associations are making sure to
enhance the amenities from which
buyers will have to choose.
“Outside spaces continue to lead the
way as a sought-after amenity for which
consumers are willing to pay top dollar,”
said Burell. “These range from larger patios
and terraces in condos to whole rooftop oases for
townhomes and single-family residences. Concierge-
type services, including a front desk concierge, access to
pet walkers and housekeeping services are big on the list as
well.”
Buyers are also after spa-like amenities, he adds, to include
saltwater pools, well-
equipped gyms and steam/
sauna facilities. Updated
common areas and security are
also large selling points. Some of
the high-end condo and townhome
sales even have such amenities as guest suites
and cigar rooms.
In one particular booming area, Old Fourth
Ward, properties spend “minimal days on the
market,” according to Amy Faulkner, managing
broker, Coldwell Banker Residential Brokerage,
Intown Office. That’s largely due to its location,
charm and amenities — such as the style options
available.
“The neighborhood has everything from
beautifully restored bungalows with a modern
mix of both old and new to contemporary newly
constructed homes,” said Faulkner.
She added, “rooftop features with views of the
city are especially chic and sought-after in the townhomes in this area.
“With all of the new development, Old Fourth Ward is sure to be one of the hottest
places to live in 2018.”
For other must-have amenities, Camp points to updated kitchens with stainless steel
appliances, granite or quartz countertops and gas cooking, along with a master suite
with hardwood floors, large closets and a spa-like bath.
It all adds up to a market in many ways resembling that of 2017, particularly
considering an interest rate increase by the Federal Reserve in December 2017, and
around three other Fed
increases expected for 2018.
That’s according to Scott
Askew, owner, Engel &
Volkers Intown Atlanta and
Engel & Volkers Brookhaven.
“As long as the economy
is thriving, we’re going to be
fine,” said Askew. With the
shortage of inventory being
a reality, he added, “buyers
just have to buckle up. If you
see what you want, buy it.
A heated market, a higher
demand and lower supply
causes prices to go up.”
Before starting your
search, be sure to “get
approved by a lender,” Askew advised, “because when you go out looking, if you see
something you want, you’ve got to jump. If you hesitate, you lose.”
Still, it’s an exciting time in real estate for Intown and the mero area. “I see 2018
being a robust year for housing,” said Burell, “especially in our Intown neighborhoods. It
truly is a historic time to be living in a city of such synergy and economic development.”
QD
'Lu** kERS
Scott Askew
saint anne’s
terrace
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1 to be apart of this community..”
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Resident since 2014
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