Glenridge Hall - Sandy Spring’s Most Romantic Home!

June 25, 2008 at 9:55 pm | In Uncategorized | No Comments
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Glenridge Hall

 

I have been driving by this Sandy Spring’s landmark  almost every day and thought this would make an interesting post for my readers.  Between Glenridge Drive and Glenlake Parkway sits the most romantic home in Sandy Springs - Glenridge Hall.  Originally sitting on 400 acreas with stables, horse trails, gardens, and a working farm, Glenridge Hall was built in 1929 by one of Atlanta’s foremost businessman and socialite.   His name was TK Glenn and he helped found what is now known as Sun Trust Bank.  He also helped in the formation of Georgia Power.  His offspring are some of the most influential people in the Atlanta area.

This home took over a year to build with over 60 people working on it full time.  It is often said to be the most romantic home in the Atlanta area.  The home is frequently used in movies - REMEMBER THE TITANS, DRIVING MISS DAISY, and a host of lesser known films as well as TV shows.  Currently, the home can be rented out for social and charity events.  It is well worth the look.

 

 

Some Real Estate Humor: From A to E…

June 24, 2008 at 12:07 pm | In Uncategorized | No Comments
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Everyone needs to have some humor in these difficult economic times. Below is a list of commonly heard real estate terms from A to E. There will be more later. Enjoy and remember if you I can help you in any way, please call on me and let me help you PILOT THE PERFECT MOVE.

A

Abandonment - Everyone present for a contract signing but the buyer.

Absentee Owner - Any property holder with I.Q. under three digits

Accord - Small car driven by agents not yet able to afford Mercedes.

Acre - Necessary space for a family of six in Utah, a family of four in Eastern Suburbia, and 500,000 people in NYC.

Anchor Tenant - Tenant covered by Stabilization or Rent Control.

A.R.M. - First part of body that is twisted during real estate negotiations.

Asking Price - Amount set on property that brokers think is too high, sellers think is too low, and buyers think will be twice the final selling price.

At risk rules - Game rules in Advance Fee which govern whether or not to taste the seller’s porridge, sit in his rocking chair, or worse, sleep in his bed.

B

Backup Contract - Contract written in such a way that it raises everyone’s hackles.

Base line - “Your property is worthless.”

Bay - Sound emanating from those worn thin in real estate transactions.

Bay Window - Site at which baying occurs.

Block - Derogatory reference to buyer’s or seller’s head.

Blockbusting - Convincing stubborn party in real estate transaction to see your point of view.

Boring Test - Real estate licensing exam that probes deeply.

Borough - To dig a deep hole and crawl in when humiliated.

C

Cap - Small beret worn on head to keep brains from blowing out when interest rates rise.

Cellar - Owner of property who wishes to sell lower portion of his/her building.

Circuit Breaker - Purchaser who goes directly to seller, by-passing real estate sales agent.

Closing - Act of God.

Closing Statement - “Thank God”.

Concrete - Substance in which feet of buyers and sellers get stuck.

Cratering - Act of hurling oneself from skyscraper when depressed.

Cul-de-sac - Bag in which legal contracts are carried.

D

Deal - Distribute cards on rental properties.

Debtor’s Position - Prone.

Deed of Trust - Salesperson loaning the buyer a down payment.

Defective Title - Sir Dr. John Smith, Esq., III.

Developer - Muscle builder who converts raw land into housing.

Dummy - Same as absentee owner.

E

Easement - The right of one agency to trespass on another agency’s exclusive property.

Egress - Escape clause that permits buyer or seller to get out of deal.

Endorsement - Broker patting self on back.

Equitable Title - “I’m OK, You’re OK”.

Estate - 500,000 acre ranch tract in Texas, 3 acre tract in Westchester County, NY, and 1500 square feet residence in NYC.

Et ux. - Eat your wife.

Execute - To end the life of a troublesome person in a deal.

Extension - Time elapsed between a bank deposit and the clearance of funds.

A Hospitality Highway Runs Through Sandy Springs!

June 23, 2008 at 10:56 am | In Uncategorized | No Comments
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Have you ever noticed when traveling on Georgia 400, or simply known as 400, that there are signs which proudly proclaim it as the Hospitality Highway?  I did some research and came across the Hospitality Highway website and liked what I found.  I love the tagline of “Magnolias…Moonshine… Merlot”. The website is a joint effort of many local tourism boards as way to highlight the rich and diverse areas that surround GA 400 as well as let people know that it is also a more scenic and interesting alternative to I-75 and I-85.

Since the gas prices are soaring, there is no better time to take advantage of some backyard site seeing in our own turf.  You can even start in Sandy Springs with the Big Forest Preserve and William Payne Historic House.  Or you can start in Dahlonega and work your way down to Sandy Springs.  Some stops in between on 400 include Dawsonville, Cumming, Alpharetta, and Roswell.  Each of these cities can offer you and your family a great time on a Saturday or Sunday.  The site offers a suggested itinerary to follow to maximize your visit.  Also, there is an arts trail and Mother Nature trail component to this site.  So check it out and visit http://www.hospitalityhighway.com.  Let me know what you think!

It’s Back (in Sandy Springs)…THE FHA LOAN!

June 22, 2008 at 11:30 am | In Uncategorized | No Comments
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Over the last few months, I have seen a increase in the use of FHA Loans. I have probably been involved in more transactions with FHA loans in the past few months than I have been in the first 8 years of my career. In the Atlanta market in which I work, there has not been a big demand for them. Due to the changing mortgage market, FHA loans are becoming favorable. FHA Loans have several advantages over conventional loans, including lower down payments and more relaxed credit-qualifying guidelines. The federal government created FHA loan programs to encourage homeownership throughout the country. The FHA can help people to obtain a loan with little or no down payment. The FHA does not supply the loan; it simply insures the loan to limit the risk to the lender.

Benefits of a FHA mortgage:

  • A 3% down payment, as opposed to a 5% down payment on traditional loans
  • Low monthly mortgage insurance
  • Low closing costs, which are regulated by HUD
  • No credit score requirements
  • Qualify for a loan two years after a bankruptcy
  • Qualify for a loan three years after a foreclosure
  • Seller can contribute up to 10% of the loan value in closing costs
  • Borrowers can mortgage up to $769,000. In 1/09, the limit will be $362,000

The borrower is required to pay an insurance premium upfront, but this premium can be financed into the loan amount directly. The borrower must also pay a monthly premium, which is .5% of the total loan amount divided equally over 12 months. Unlike a conventional loan, the FHA requires a termite report and clearance, as well as a few other property condition standards, to qualify for a loan.

If you want more information, please feel free to call on me to help you PILOT THE PERFECT MOVE.

Sandy Springs History: Morgan Falls Dam

June 16, 2008 at 11:36 am | In Uncategorized | No Comments
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The last post I featured the new park being proposed for Sandy Springs and Morgan Falls. Since I enjoy researching the history of our city, I thought my readers would like to hear a little about the history of the dam at Morgan Falls.

At Morgan Falls, exists one of the first dams to be built for electrical purposes in the state of Georgia. The dam opened in 1904 and was constructed to generate electricity for Atlanta’s street car system which was 12 miles away.

Today, the dam is not used for electricity, but serves as a mechanism to regulate the water flow down the Chattahoochee for the Atlanta water and sewage systems. It plays an integral part in the Atlanta community. The dam also serves as the focus of Bull Sluice lake which is know to river enthusiasts, fisherman, and boaters. The future park plan is to construct a walking path over it to the other side of the river.

Last river clean up I was able to walk over the dam with my daughter and found it fascinating. It gave a beautiful view of the river and mad me excited about the new park that is being proposed. This would be a major amenity which will boost the value of real estate in the area. Please see the link for a more comprehensive history of the dam.

Morgan Falls: A New Sandy Springs Park

June 15, 2008 at 6:43 pm | In Uncategorized | No Comments
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Over the next few years, Sandy Springs will be investing over $11 million to create a great new park at Morgan Falls. Part of the plan is to create a walking bridge over the dam to connect to the green space in Cobb county across the Chattahoochee. Currently, Morgan Falls is the only public place in Sandy Springs to have a boat ramp. This should be a much improved feature once the park is complete. Please see the following link for more information.  Also, use the following link to see a copy of the master plan for the park.

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