Archive for category State of Real Estate Market
Vinings home located in the Chattahoochee flood plain under contract on Cochise Drive
Posted by thunsicker in Home Maintenance, State of Real Estate Market, Under Contract and Sold Homes, Vinings on December 8, 2011
Vinings home under contract at 3642 Cochise Drive.....the first home in the flood plain to sell since 2009.
3642 Cochise Drive, Atlanta, GA 30339 is under contract.
This is big news for a couple of reasons:
- This is the first house in the flood plain in Vinings to sell since 2009.
- The bad news is the price it took to sell.
I had this home listed pre-flood at $1,350,000 and here at the end of 2011, the last list price before it went under contract was $624,000, and I assume they got it for slightly less than that.
Also, it was a corporate sale so the price was reduced consistently over the past year plus that its been on the market. My client who lived there was relocated to Chicago and shortly thereafter their company bought the house from them, so all is good for them but the company had quite a shortage I’m sure.
I’ve heard the buyers are local Vinings residents and the house was a great deal.
The kitchen and bathrooms were all new in this home under contract in Vinings.
The kitchens and the baths are all completely new as is the basement – which is the area that will flood. It is all tiled now so it can be hosed off in case of another “event”, but can be used as a great family room in the mean time.
A tile floor on the terrace level was installed in this post-flood home that is under contract in Vinings. Very practical!
Buckhead Home Sold on Regency Court
Posted by thunsicker in Buckhead, State of Real Estate Market, Under Contract and Sold Homes on November 10, 2011
This stately Buckhead home at 4235 Regency Court in Buckhead has six bedrooms, six full and three half baths. My buyers are in love with the walk-out pool and putting green outdoors. Inside, there are 12′ ceilings and the master on the main. Offered at $1,975,000.
Congratulations to my buyer clients!
Buckhead - 4235 Regency Court. Originally listed for $1,875,000. Sold by Tina Hunsicker of Atlanta Fine Homes Sotheby's International Realty (representing the buyer).
A dramatic, elegant entry is found at 4235 Regency Court in Buckhead.
The family room is open to the top-of-the line kitchen in this Buckhead home sold by Tina Hunsicker.
A placid, walk-out pool from the main level is the perfect accessory to this beautiful home in Buckhead.
Incredible estate for sale at 811 Hawks Nest Court in Ball Ground
Posted by thunsicker in State of Real Estate Market on November 9, 2011
I’m excited to share with you my new listing at 811 Hawks Nest Court in Ball Ground, GA. Offered at $9.8 million, this estate has it all….including a helipad!
More information and links back to my website are coming soon….but I thought the pictures below might whet your appetite for now. Click here to see the entire slideshow.
An aerial view of 811 Hawks Nest Court. Listed for sale by Tina Hunsicker of Atlanta Fine Homes Sotheby's International Realty. Offered at $9.8 million. Click on the image for more photos of this property.
A formal living room invites one and all into this countryside estate at 811 Hawks Nest Court. Listed for sale by Tina Hunsicker of Atlanta Fine Homes Sotheby's International Realty. Offered at $9.8 million. Click on the image for more photos of this property.
The main kitchen - one of many at 811 Hawks Nest Court. Listed for sale by Tina Hunsicker of Atlanta Fine Homes Sotheby's International Realty. Offered at $9.8 million. Click on the image for more photos of this property.
An incredible game room complete with bar, pool table, tvs, and access to the theatre room, stage and recording studio.
The perfect setting for an evening of entertainment - whether it's karaoke or with your professional friends.
Want to preserve that incredible voice and music? Step into the professional recording studio.
The pool is the perfect setting for an evening soiree....or the most fabulous birthday party imaginable.
A personal helipad makes commuting to the Hartsfield-Jackson International Airport a breeze.
Sold in Chastain Park on Laurel Drive
Posted by thunsicker in Buckhead, State of Real Estate Market, Under Contract and Sold Homes on November 9, 2011
View of the Atlanta skyline in this Chastain Park home where I represented the buyers in their purchase.
My clients and I experienced a lovely surprise when we entered this home on Laurel Drive in Chastain Park. There’s an incredible view of the Atlanta skyline!
Originally listed at $1,700,000, I helped them to buy this home with six bedrooms, five full and two half baths. The pool and pool house in the back yard are simply the best.
Congratulations to my clients!
Chastain Park - 127 Laurel Drive, originally offered at $1,700,000. Sold by Tina Hunsicker of Atlanta Fine Homes Sotheby's International Realty (representing the buyer).
Chastain Park - 127 Laurel Drive, the lovely, open kitchen. Sold by Tina Hunsicker of Atlanta Fine Homes Sotheby's International Realty (representing the buyer).
An exquisite setting for a swimming pool and adjacent pool house/cabana.
Three Vinings Homes Under Contract
Posted by thunsicker in State of Real Estate Market, Under Contract and Sold Homes, Vinings on October 26, 2011
Whew….it’s been a busy couple of weeks, and I have been managing three offers and all the communication that goes along with that between buyer, seller, listing agent, buyer’s representative agent, banks, inspectors, appraisers….you understand! All three homes in Vinings are under contract or sold now. Two are listings of mine, and one is a home where I represent the buyer.
SOLD – 3225 Teton Drive, Atlanta GA 30339
With a list price of $1,299,000, this Vinings home is under contract on Teton Drive. Listed by Tina Hunsicker.
Under Contract – 3333 Cochise Drive, Atlanta, GA 30339
This Vinings home on Cochise Drive was listed at $599,000 and is under contract now! Listed by Tina Hunsicker.
Under Contract – 4323 Orchard Valley Drive, Atlanta, GA 30339
Under contract in Vinings! I’m representing the buyer at this home on Orchard Valley Drive. Listed at $699,900.
Fulton County Tax Assessments Under Scrutiny – Again
Posted by thunsicker in Buckhead, Data and Statistics, State of Real Estate Market on October 11, 2011
As many of my Buckhead friends know, property valuation has been an issue in determining taxes in Buckhead for awhile. I have access to professionals that will fight your assessment for 1/3 of your first year’s savings on your taxes. As of April 2011, your taxes should not be higher than what you paid for the property even if it was a foreclosure or short sale. Let me know if I can help. – Tina
By Johnny Edwards, The Atlanta Journal-Constitution
The Fulton County tax assessment situation has another flair up.
Some Fulton County residents have been egregiously overbilled for property taxes because the county, contrary to a new state law, appraised their houses for more than their 2010 sale prices.
The scope of the problem is still being determined, but it could make for another embarrassment for a tax assessors office that has struggled to keep up with legislation enacted this year overhauling property assessment and appeals processes in the wake of the real estate bust.
And it has the Senate majority leader fuming.
“I’m flabbergasted. I’m frustrated,” said Sen. Chip Rogers, R-Woodstock, who sponsored Senate Bill 346 and is pushing for further changes in the tax system next year. After seeing evidence that Fulton has put tax values on some homes at twice their sale price, Rogers said he’s now mulling penalties for counties that stray from the law.
“This is a problem that doesn’t seem to be correcting itself,” he said.
One of the provisions of SB 346 limited 2011 tax values to the level of 2010 sales. Exceptions are allowed if, after a sale, an owner undertakes new construction or makes major repairs or renovations.
Allyne Bolton bought a new house in unincorporated south Fulton for $147,190 in June 2010. Though she’s had nothing done but an interior paint job, the county gave her a tax value of $308,700.
Her tax bill totaled $4,112, which she says she can’t afford. Had the house been valued at her sale price, she would have owed about $1,640.
“It’s ridiculous. It’s unfair,” said Bolton, a travel agent out of work since January. “The law says they can’t assess me for more than what I paid for the house, and they’ve assessed me at twice what I paid for the house.”
It’s the latest in a succession of errors and oversights by the assessors office this year, some widespread, some affecting an unlucky few.
Burt Manning, the county’s chief appraiser, said Fulton residents who believe they have been wrongly appraised should call his office.
“We’re certainly investigating, and we’ve only found a few that need to be fixed,” he said.
Please click here for the entire article about the Fulton County tax assessments from the Atlanta Journal Constitution.
Also, I wanted to provide the Georgia law pertaining to the revenue and taxation of ad valorem taxes in our state. Please click here to see the entire law.
Click on the image of the Georgia law for the full-size PDF version.
Arthur Blank’s Buckhead mansion sold
Posted by thunsicker in Buckhead, Famous People in Atlanta, State of Real Estate Market on September 20, 2011
The front elevation of 3639 Tuxedo Road, sold in September 2011, the former residence of Arthur Blank.
After over three years on the market, one of the most breathtaking lots in Buckhead has sold, the owner was Arthur Blank (one of the founders of Home Depot and owner of the Atlanta Falcons). This Buckhead mansion was originally listed at $10,900,000. The tax records state that the home is 7,352 sq ft.
Everyone will always remember the grounds of this property at 4.19 acres… it has the most beautiful gardens, lakes and paths in the heart of Buckhead I’ve ever seen.
This mansion on Tuxedo Road has been open to the public on many occasions. The home was upgraded and featured as the 2010 Atlanta Symphony Decorator Showhouse. The house itself isn’t the most special thing and I wonder if the Decorator Showhouse hadn’t updated many things if it wouldn’t have been torn down to make way for a new home with higher ceilings and larger rooms.
The gardens of the current home of Stephanie & Arthur Blank, located at 1080 West Paces Ferry Road. Photo by Thomas A. Wolfe.
In 2006, The Blanks purchased a home at 1080 West Paces Ferry Road in Buckhead. They apparently renovated the home over the course of two years and moved in during 2008, leaving the property at 3639 Tuxedo Road vacant since then. Their current home has over 15,000 square feet and was assessed by the City of Atlanta at $13,698,000.
Finally this in spring 2011, 3639 Tuxedo was reduced to under $5M and it just closed this past week for under $4M. I do believe the land alone is worth this price and I’m wondering if the new purchaser thinks the same thing and we’ll soon see a new structure there.
I’m sure there were some emotions involved in this sale; Stephanie and Arthur Blank’s divorce was announced on September 2nd of this year. The house was assessed by Fulton County at $4.8M and Arthur purchased it from Rex Fuqua in 1990 for $1.5M.
Here are some photos of the Arthur Blank’s Buckhead home that recently sold:
Among the most beautiful landscape in all of Buckhead, the previous home of Arthur Blank on Tuxedo Road has sold.
The elegant entry way at 3639 Tuxedo Road.
The updated kitchen featured at the 2010 Decorator's Showhouse at 3639 Tuxedo Road in Buckhead.
A memorable and glamorous dining room at 3639 Tuxedo Road, a home recently sold in Buckhead for under $4M.
The creative craft room at 3639 Tuxedo Road...Arthur Blank's home that was recently sold in Buckhead.
Most expensive home sold in Atlanta 2011 to the Al Hill III family
Posted by thunsicker in Buckhead, Famous People in Atlanta, State of Real Estate Market on September 15, 2011
I just happened to be looking at yahoo.com and the number #1 trending item was that Tyler Perry is now the highest paid man in the entertainment industry.
That got me thinking about all the famous people that live around metro Atlanta.
Of course Tyler is a neighbor and can be spotted at Canoe Restaurant regularly. I’ve been told that Janet Jackson stays at his home now versus her former residence on Mt. Paran that she had with Germaine Dupree.
As many of you know I’ve had Jane Fonda’s Atlanta residence listed and its currently leased but we’ll be putting it on the market again in the next few months. We’ve had the opportunity to show it to many famous people and their “front” people when they were filming here. Seems they all arrive with an entourage. Queen Latifah is one of the nicest that I’ve met.
We also have our share of professional athletes in the area with Hines Ward building his new house off of Riverside Drive and his ex-wife Simone and their son Jayden just purchased a townhouse at The Battery down behind Avignon and the Aberdeen in Vinings. I showed a house to Will Allen, a Safety with the Pittsburgh Steelers last week and he apparently has a contract on a home in Buckhead right now as well.
These instances of famous people and their recent real estate purchases in Buckhead made me take a look at how many homes over $4M traded in Atlanta this year….and the profile of the buyers and sellers. There have been only three homes sold over $4M in Atlanta in 2011 YTD:
One of the most expensive homes sold in Atlanta in 2011, 330 Argonne Drive in Buckhead is now home to author Emily Giffin Blaha.
330 Argonne Drive: This home was purchased by the author Emily Giffin (married name Blaha). Her previous home in Brookhaven is still for sale if you’re interested! She purchased her house for just under $5M in June of this year. Check out her most recent book, The Heart of the Matter.
1325 Monte Carlo in Buckhead was sold in 2011, in a property transfer/sale worth almost $7 million.
1325 Monte Carlo: This home was purchased via a swap with the owner’s previous home on Regency Court which is still on the market as well. The purchaser was a Darrell J. Mays and I can only find a Telecommunications Company which is foreign registration associated with him name on the internet. He paid almost $7M for the house including the trade value.
981 Davis Drive: This is the largest sale so far in 2011 at $9M. The previous owners of this home were Amanda and Walter Reames. Yahoo shows him as an investor and partner in Atlanta Capital Management.
The most expensive home sold in Atlanta year to date, 981 Davis Drive, former home to Walter Reames, now home to Texas oil family, Erin and Al Hill III. Click on the image for an interactive map of the property.
“Mr. Walter Fred Reames Jr. is a Managing Partner and Member of Executive Committee at Atlanta Capital Management Company, LLC. His responsibilities include oversight of the marketing and sales as well as the finance and technology functions. Before joining Atlanta Capital in 1978, Mr. Reames was a Vice President at the Citizens & Southern National Bank, serving as a Manager of its National Division East. He was responsible for the bank’s relationships with major corporate clients headquartered in 17 eastern states and Canada. Mr. Reames was also a Business Advisor at The White Oak Group, Inc. He has received his Bachelor’s degree from Yale University and completed the Graduate School of Credit and Financial Management program from the Harvard Business School.”
More interesting to me is the purchaser. My son had a new girl in his class at Westminster at the beginning of the year and she hadn’t been on the new student list that was published a couple of weeks before, so now in hindsight I think it was a last minute addition based on the closing of this property. Turns out the new little girl now lives in this house!
The new family in Buckhead is the Hill Family. Pictured here are the father, Al Hill Jr., left, a grandson of billionaire H. L. Hunt, and his son (current Atlanta resident), Al III, right, known in Dallas as “Al Three.” Photographs by Danny Turner.
At first I didn’t make the connection, but upon receiving an email a week or so ago it dawned on me who the family was: Erin Nance Hill and Al Hill III.
Many years ago in the 1980’s I worked for Mellon Bank in Pittsburgh and my territory was Dallas, TX, so I became aware of many things “Dallas” and when I lived in Washington, D.C. in the early 90’s I was friends with T. Boone Pickens’ daughter there and knew of many of the oil families in Texas.
The Hunt family in Texas is one of the wealthiest families in America .
Erin Nance Hill is from Calhoun, GA and has family here and was 1993 Miss Georgia, so it’s not a surprise that she wants to raise her children here as well. Atlanta is a great town for many reasons and we are thrilled to welcome The Hill Family to Atlanta and to Westminster! Erin was a well-known socialite in Dallas and was single-handedly responsible for raising almost $1 million for charity during her time there.
Additional photos of the Atlanta mansion at 981 Davis Drive purchased by the Hill family….it will take your breath away!
Kenny Rogers’ Buckhead (Atlanta) Home Sold
Posted by thunsicker in Buckhead, Famous People in Atlanta, State of Real Estate Market on September 13, 2011
I usually just email my close friends with these types of things, but I think this is newsworthy enough to post on my blog.
Kenny Rogers put his Buckhead estate located at 10 Valley Road, back on the market a few months ago. This time, he listed it at approximately half the price of his initial listing price from several years ago, and did not offer to include the furnishings. Listed at $3,999,000 this time his home sold in just a couple of weeks and closed in a month for very close to asking price. There is good news in this market for sellers that price their home to the current market.
Kenny Rogers' Buckhead Home Sold in September, 2011. A striking property from the street and throughout the entire interior and landscape. Dramatic entry foyer makes quite a statement & leads to rooms that are both elegant & comfortable including formal living and dining rooms, study, great room with 20' ceiling open to large kitchen. Click on the photo to see a virtual tour of the property.
Unfortunately for Kenny, he started with a high price several years ago and was chasing the market down, and then he took the house off the market for about a year. His twin boys were in kindergarten last year and were about to enter first grade here in Atlanta, and I think he just preferred to raise them in his Athens home where he raised his other children.
I’m happy for the agent that the price was right this time and it happened very quickly for all of them.
As we all know it can be challenging to have your house on the market….the good news is that a home priced correctly will still sell even now. It may be painful to get there but it’s where the market is. If you want to (or have to) participate in this market you need to heed the current value to get a sale; he did and had a successful outcome.
Congratulations to the listing agent, Heather Steiner with Atlanta Fine Homes Sotheby’s International Realty!
Real estate trends in Buckhead’s 30327 zip codes
Posted by thunsicker in Data and Statistics, State of Real Estate Market on August 17, 2011
For the 30327 Buckhead market the trend is very different than the Vinings real estate market in 30339. What we’re seeing is consistent sales that are the same as last year, not down like Vinings.
The interesting thing about the Atlanta zip code 30327 in Buckhead (and I know this to be true from my clients who are looking to purchase) is that the inventory is really low.
We don’t see many new homes for sale in Buckhead entering the market and the inventory is getting eaten up so prices have stabilized more. I fully expect to see prices begin to increase slightly in 30327 as demand continues to increase and inventory does not.
Is now a good time to move up to a larger, better home? It may just be.
If a client is trading up this is still the time to do it, but for those downsizing or having to participate in this market for relocation purposes it still remains tough.
Statistically we are back to 1998 pricing. So if you think your house was worth “x” in 2005 that’s not the value anymore. Think back to what it was worth in 1998 and that’s what you’ll most likely get in today’s market.
I also run a Case-Shiller index for my clients to help exhibit what that value most likely is for their home.
Give me a call or text to 404.931.3944 or email tinahunsicker@hotmail.com if you’d like me to provide this free analysis for you.
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