9 Mile Trolley Realty - The Loft Stop

What an interesting ride it has been.

Nesa Kleinheksel — Fri, 12 Feb 2010 01:30:19 +0000

Holey Smoley..I can’t believe it’s been 5 months since my last post. I had to laugh at my last post back in August about the foreclosure mania being over..didn’t happen!! I really don’t want to talk about foreclosures and short sales..it’s still a depressed market overall which makes me depressed so why continue to write about it..Which leaves me with what to write about…hmmm…hmmmm…hmmmm….got nothing! Actually, I do have alot to write about starting with 2 fantastic lofts in Inman Park! Who cares about this crappy market…if you can get financed and are looking for an incredible loft space, you really need to check these out. They are not cheap but if these units were on the market a few years ago when real estate was good they would have sold for a pretty penny!

The first loft is an incredible 3 story authentic loft with a private rooftop deck! Seriously, this is quite the loft and a fantastic opportunity to buy an authentic loft in the heart of Inman Park! Currently used as residential and a photography studio this 2500 sq.ft loft has tall wood timber ceilings, hardwood floors, updated kitchen and a private outdoor area! Plus, they have been starting to clear away some of the old railroad ties and making clear for the new Beltline(trolley system) across the street. Words can’t really describe this loft it is massive and incredible. Take a look at the picture! I would say this loft truly does resemble a loft that you would find in New York. The only other lofts out there that would be somewhat similar to this one are units over in Castleberry Hill, but to find something like this in Inman Park is just incredible! Plus, there are only 3 units in the entire building and it has a private front entrance and back entrance. If you are looking to use it as live work there is a loading dock that goes right up to the unit! Currently priced at $529,900. Monthly HOA fees are only $125 per month!

The second loft that I have listed is another live/work loft in Inman Park, matter of fact it is right next door to the one above. This loft is actually more of a raw space even though there is a kitchen and bathroom in place. This unit is also massive, almost 3100 sq.ft.!! All on one level and seperated into 3 bedrooms. There is a ton of stuff that you could do do to this unit to make it look stellar! This unit also has a private outdoor area and 2 dedicated parking spaces. Private front entrance and the loading dock also goes right up this unit. This unit is in a Co-Op building, for all the New Yorkers out there you know what that means, for the rest of you a Co-Op works much differently than a normal condo/loft building. The major difference is that you are buying shares of the builidng, even though you own the unit, you are still buying shares. What does this mean? First is that there are no monthly HOA fees, there are quarterly fees. For this particular unit they are about $1450.00 each quarter…and before you grown..those fees do include PROPERTY TAXES along with garbage and water. So, really for a unit that is this large those fees are not too bad because of the property taxes rolled in. If you want more details about how a co-op works, feel free to give me a call! Currently priced at $399,900!

Is the Foreclosure Mania over yet?

Nesa Kleinheksel — Thu, 27 Aug 2009 03:49:00 +0000

Finally, after 12 months of foreclosure hell, I think I can finally say the foreclosure mania is over. Finally, I can crawl out of my dark foreclosure hole and see that buyers are understanding that foreclosures are few and far between these days, perhaps reality has set in that the housing market is recovering?

There are a handful of loft foreclosures out there and yes, every once in awhile a really great foreclosure will pop up on the market, but at this point if you want a foreclosure be prepared to release the inner demon from within, because getting a good foreclosures these days is as cutthroat as it gets when you are trying pick up a loft or condo foreclosure. Intown Loft and Condo foreclosures are slim pickings these days and if there is truly a decent foreclosure that doesn’t have monthly HOA fees of $700 per month or not in a horrible nasty area than you have to deal with all the other folks out there that want that foreclosed loft or condo just as bad as you do. What does that mean? It means you WILL pay over the listing price for it because there are plenty of other buyers and investors out there writing up their offers for it. Banks have been pretty savvy lately, they are starting to put the listing price as a “starting point” which typically attracts multiple offers therefore the final selling price is a good amount over the listing price. If you find a “good” foreclosure, be prepared to put a offer in instantly, even before you see it, because by the time you look at it, think about it for a day, and contact the lender to see if you can afford it, it will be gone. But, foreclosures are a thing of the past, I think anyway…so what else is out there that would be a “great” deal? Well, there are plenty of short sales. Those are fun…if you like to wait 8 months for an answer from the bank regarding your offer that is. I loathe short sales…which I think I can speak for most Real Estate agents out there on that point. If you don’t know what a short sale is, it’s basically a seller selling their place for less than what is owed on their mortgage. First, you negotiate with the seller, which the seller will pretty much agree to any price and then the offer gets shipped over to the bank for their approval. If I had a sound effect machine, you would hear tires screeching to a halt at this point. Banks are notorious for not responding to a short sale offer for months, even sometimes a whole year. On average, I would say it will take 6 months for a bank to respond. Every once in awhile I come across a listing that the seller has already received approval from the bank to do a short sale, if that’s the case than most of the time you can close on it within 45 days from the binding agreement date.

Just say NO to foreclosures and short sales! I think I will make that my new slogan. I am sure I will hear from other people that think there is going to be another wave of foreclosures coming soon…I don’t think so..I believe the market bottomed out a couple of months ago and is starting to recover. Plus, I have proof! Here’s my proof…that little billboard on I85 from metrobrokers that reports how many homes are on the market currently, well, if you paid attention to it, about 9 months ago at one point that billboard read 109,000 homes for sale in metro Atlanta. Today, it reads 75,000. What does that mean..inventory is down. Way down..Things are selling and sellers are yanking their places off the market and waiting this foreclosure mania out. When inventory is down like that, than at some point builders will start building again and sellers will sell again because there isn’t enough inventory for supply and demand.

I would say that most of the lofts and condos that are currently on the market are pretty darn good deals. If they are not a short sale or a foreclosure than it is usually a very motivated seller. Don’t rule out normal resales because most of the time those are the ones that are the diamonds in the rough, mainly because those are lofts owned by Motivated Sellers, which means you can get a good chunk of money off that listing price and close on it within 30 days! Off the top of my head I can pinpoint several lofts that are worth picking up…First is over at Mwest lofts. The second phase, which is still owned through the developer, dropped their prices significantly over the last month. Mwest has always been popular because of the private garages and private fenced in yards. So right now is a great opportunity to pick one of those up. Pricing ranges from $189k to $350k. Most noteworthy are lofts that are priced over $400k..there is one at Copenhill Lofts, which is on the market for $595k..incredible loft and in a good market probably worth over 700k. Glen Iris Lofts has one for $495k, another really cool loft and a great deal. If you are looking for a 2 bedroom / 2 bath for the low 200’s, I would suggest Milltown Lofts in Cabbagetown, there is one left through the developer that is priced at $220k, originally those were selling in the $270’s!!

So, there are great deals out there even when it is not a foreclosure or short sale. It’s pretty easy for me to pick out the ones that are good deals since I have been selling lofts for awhile now, so if you need assistance with your loft search, feel free to contact me. In the meantime, I will be busy taking down my webpage for foreclosures and replacing it with Motivated Seller lofts! Nesa Kleinheksel – 9 Mile Trolley Realty – The Loft Stop

Grant Park GA Loft

Nesa Kleinheksel — Wed, 20 May 2009 20:48:34 +0000

Waters Grocery Loft

Here’s a cool loft that came on the market this week! It’s a unit in the Waters Grocery Store building in Grant Park. This is truly rare since there are only 4 units in this building. Grant Park is mainly comprised of old Victorian homes, so finding a loft in the heart of Grant Park is highly desirable, plus where this building is located is ideal because it is only 1 block from the Park. Grant Park is a quiet neighborhood located about a 5 minute drive Southeast of Downtown Atlanta. The Zoo and the Cyclorama are both located in Grant Park as well. Although, Piedmont Park is Atlanta’s most well known park, the park in Grant Park is just as nice and it’s a little more low key than Piedmont Park. There are also several restaurants that you can walk to including Ria’s Bluebird Cafe, Six Feet Under, Dakota Blue and Stella Trattoria. For more information about Grant Park, check out their website, www.GrantPark.org.

About the loft itself, as I mentioned it is in the Waters Grocery Loft Building which is a vintage store front conversion. This loft has 1 bedroom and 1 1/2 baths with approximately 1320 sq.ft.

Waters Grocery Bedroom

The features that set this unit aside from other lofts is the 18 ft. ceilings, gas fireplace and the exposed brick walls. Everything in this loft has been upgraded to its finest including, Bead board ceilings; Bead board accent walls & wainscoting; Original terrazzo floors; Huge thermal pane windows; Extensive down lighting; Subway tile bath with jetted tub & rain shower, double vanity with stainless steel under mount sinks & granite counter tops; Master bedroom with walk in closet; Guest hall bath; Kitchen features custom dark stain & glazed maple cabinetry, granite countertops with island and top of the line Frigidaire stainless steel appliances; Last and not least there is an Oversized laundry room & pantry. There is an additional loft area with limited ceiling height that could be used for storage or as a crash pad.

Another interesting fact is that it is also zoned as a live/work space. So, if you wanted a space for just your office in the middle of Grant Park, you can!

Waters Grocery Kitchen

The monthly HOA fees are cheap, at $75 per month too. The parking for the loft is on the street.

Currently priced at $300,000. Not a bad price in my opinion since it is pretty hard to find something like this.

If you would like more information about this fantastic loft, please contact me at nesa@theloftstop.com or 404-579-9307

Castleberry Hill Loft

Nesa Kleinheksel — Thu, 02 Apr 2009 17:07:21 +0000

New to the market this week is an affordable authentic loft located in Castleberry Hill. This 765 sq.ft loft has an open floor plan with concrete floors, exposed brick and high ceilings. This is a great starter loft in one of the best loft buildings in Castleberry HIll.

The Swift and Co Loft building is located on the corner of Fair and Peters Street. There are a handful of restaurants to walk to including Slice, Johnny Cakes and No Mas Cantina. There is also a very cute coffee shop called Tilt. Castleberry Hill is known for their monthly art strolls on the last Friday of each month as well. To learn more about Castleberry Hill check out the neighborhood website for more information.

Authentic Loft

Back to the loft itself, it is currently priced at $159,900 and features a large kitchen with gas stove, white cabinets and plenty of cabinets. The bathroom has a single vanity with a tub/shower combo. Tucked behind the bathroom is the closet and side by side washer and dryer. The living room is large enough to accommodate a small dining room table and it has plenty of wall space for a flat screen tv. The bedroom is tucked behind the living room which the current owner has built a terrific dividing wall with sliding barn yard doors for privacy.

The building does have community rooftop deck with terrific views and plenty of tables and chairs if you are entertaining. The unit does come with 1 secured parking space in the garage. Monthly HOA fees are only at $152 per month which includes garbage, water, basic DirecTv and WIFI. Swift and Co. used to be an old meat packing plant way back in the early 1900’s. This building definitely captures the authenticity of what a loft is supposed to be!
The building is not FHA approved, but it should be fairly easy to get a FHA Spot Approval done which means you can get into the loft for as little as a 3.5% down payment.

This loft is definitely one of the nicest lofts in Castleberry Hill and is very affordable at $159,900! For more information, please feel free to contact me at nesa@theloftstop.com or 404-579-9307. – Nesa Kleinheksel

Decatur GA Loft

Nesa Kleinheksel — Wed, 11 Mar 2009 02:33:12 +0000

How Exciting! A new listing popped up at the Locust Lofts in Avondale Estates.

Exterior of the loft.

This is rare! Locust Lofts have always been a favorite of mine because of how quaint the community is. There are 13 total units with 7 units in one building and the other 6 units in the building next to it. Separating the units is a large green space which is completely awesome if you own pets. These units are pretty incredible too, this particular listing offers 2 bedrooms and 2 full baths. Yes, the second bedroom is truly a bedroom and it is private! The loft also has a garage door that opens up from the living room to the back deck, how cool is that!! Each unit has been customized by each individual owner, so they are all pretty unique from one another. It is a 2 story loft with a fabulous kitchen and a fireplace!! This unit has approx. 1600 sq.ft and is currently listed for $229,000!!! Monthly HOA fees are cheap too, at $150 per month! There is a driveway for each unit which can accommodate at least 2 cars and there is plenty of guest parking on the side streets.
Locust Lofts are located in Avondale Estates and are conveniently located near the Farmers Market and about a mile to the Square of Decatur! The Marta station is nearby and there are couple of restaurants that you can walk to! For more info, please contact me at nesa@theloftstop.com or 404-579-9307. – Nesa Kleinheksel

Inman Park Lofts

Nesa Kleinheksel — Tue, 10 Mar 2009 18:46:07 +0000

One of my favorite neighborhoods in Atlanta is Inman Park. Inman Park has always been known for their large Victorian Style Homes and being a walkable community but for years there wasn’t much to walk to. However, over the last couple of years Inman Park Village was created which is a centralized community that contains some of Atlanta’s most well known restaurants and retail.   For a long time the only neighborhoods that were truly walkable communities was Midtown and Buckhead but with the addition of Inman Park Village it now gives people a choice to live in a community without hi-rises and has a little bit more charm than Midtown or Buckhead.
There is a variety of style of homes for people that would like to live in Inman Park including Lofts. Probably one of the more popular buildings is Inman Park Village Lofts, which is a mid rise building containing 68 units.   The popularity of the building is due to the different floorplans as well as having features such as polished concrete floors, 10 ft ceilings, and large balconies.    Resales now range in price from $150,000 for the smaller 1 bedroom floorplans to $350,000 for 2 bedrooms.
One of the newer additions to Inman Park is the Grinnell Lofts, which is a 24 unit boutique condominium complex.   Also situated in the hustle and bustle of Inman Park Village, Grinnell Lofts offer large sq.ft, high ceilings, roman tubs and a community swimming pool.   There are still a units available through the developer with pricing starting at $239k for 1 bedrooms and $400k and up for the 2 bedrooms.
Throughout Inman Park there are also several other notable loft communities including Brickworks, Inman Motorworks, and Marble Lofts. One of my favorites is a small 7 unit building called 130 Krog. Once a old cotton sorting warehouse these 7 units are all zoned live -work with enormous sq.ft. Rarely are they available but as of today there is a listing for a 3 bedroom loft priced at $549,000. With over just 2300 sq.ft, this loft has wood ceilings, private garden terrace, lots of secured parking and very large ceilings.   130 Krog is located in what I call the historic part of Inman Park, which has a ton of history and the buildings are more appealing than the new stuff over at Inman Park Village. Plus, steps from 130 Krog is the well known Rathbuns Steak House, if you are looking for an excellent place to dine, this is a must!!
If you are looking for a charming and walkable community in Atlanta, Inman Park should definitely be on your list. If you would assistance with your loft search in Inman Park, please feel free to contact me at nesa@greatatlantalofts.com or 404-579-9307 – Nesa Kleinheksel

When Selling a home…

Nesa Kleinheksel — Tue, 24 Feb 2009 01:10:55 +0000

When selling a home, legally you must state everything that is wrong with it. I find the following is not always revealed.

How about $8000 in your pocket if you buy in the next year!

Nesa Kleinheksel — Thu, 19 Feb 2009 01:34:26 +0000

A nice little incentive to the new stimulus package that was signed today is the $8000 tax credit that you will receive if you buy by Dec. 1, 2009. As usual, there are rules that apply but for most first time home buyers this a great incentive! Below are the details!

- anyone who has not owned a home in the three years prior to purchase date is eligible (spouse can’t have owned home either)
- income limits of $75k for individual and $150k joint (phases out at $95k individual and $170k joint)
- must purchase before December 1, 2009
- tax credit is lesser of 10% of home purchase price or $8,000
- this is not a loan and does not need to be repaid
- only applies to single-family residences
- only applies to a primary residence
- no portion of the tax credit is due upon sale of the home if the home is owned for more than three years (if home sold within 3 years, full amount of credit is due upon sale)
- credit can be claimed on the purchaser’s income taxes despite their liability (thus, if they had to pay $2k in taxes, they will now get a $6k refund)

Pretty Schweet!! Add this to the low interest rates and you got yourself a great opportunity!

Factory Lofts Foreclosure

Nesa Kleinheksel — Wed, 11 Feb 2009 21:59:20 +0000

Searching around today on the MLS system I found a new foreclosed loft on the market over at The Factory Lofts in Virginia Highlands and it is a sreaming good deal. It’s a 2 bedroom with 2 1/2 baths with approx. 1800 sq.ft, currently priced at $299,900. It has 3 levels with a private rooftop deck with decent views of the city. The Factory Lofts are super sweet and it is one of the only authentic loft buildings in Virginia Highland. The imported Italian kitchens are pretty sweet in these lofts and the space works well for couples, roommate situation or if you need an extra “bonus” area for office or an area for a pool table!
The Factory Lofts are located off Greenwood Ave, tucked behind the Home Depot and Whole Foods on Ponce De Leon. There are a total of 24 units and they all come with assigned parking. The Parking is not secure and for this particular unit there is only 1 space that comes with the unit. The monthly HOA fees are only at $225 per month. The community does not have any amenities such as swimming pool or fitness center.
The larger units at The Factory once sold for $400,000 so at $299k this is a terrific deal. Last year I sold another unit at The Factory which was the same size for $330k and I thought that was a good deal. Now, I have no idea what condition this unit is in but from the few pics that the listing agent took it looks like it might be in good condition.
If you wouldlike more information on this unit or if you would like to schedule a showing please contact me at nesa@theloftstop.com or 404-579-9307. If you don’t have a buyers agent and you use me as your exclusive buyers agent on this property I will throw in $750 towards either the monthly HOA fees or closing costs!

Atlanta Loft Deals

Nesa Kleinheksel — Tue, 10 Feb 2009 17:17:32 +0000

While I was showing the other day I came across a couple of lofts that I thought were really nice lofts at really good prices. Unfortunatly, no, these are not foreclosures but that doesn’t matter because you can still find lofts that have very motivated sellers that are selling for cheap.
The first one is an incredible authentic loft at Gasket City Lofts located in West Midtown. The loft is gorgeous and in my opinion it has everything that most buyers are looking for. It is a corner unit with a ton of windows for natural light, plus it has gorgeous views of the Atlanta Skyline. The hardwood floors throughout are beautiful and the space is amazing. According to the tax records it has approx. 1650 sq.ft. Sometimes in old buildings you can tell whether or not it is quality construction, this partiuclar loft feels really solid. The exposed brick is beautiful and the wood timber ceilings add a great flare to the unit. There is a seperated private bedroom located in the back of the unit but the unit has so much sq.ft. that it can easily accomodate room for an office space. It does come with 2 parking spaces and the community does have a gorgeous rooftop deck! Gasket City Lofts are located in West Midtown, you can easily walk to the Georgia Aquarium, CNN Center and all of the restaurants downtown! It is currently on the market for $249,900. In my opinion, if it was a good market, this unit could probably sell around $300,000. For more information on this unit at Gasket City Lofts click here.
The second loft that I came across is a authentic loft located in Castleberry Hill, in a building called Castleberry Square. Castleberry Square is one of may favorite loft buildings in Castleberry Hill, it has a good reputation and it sits far enough away from the bar scene so you wouldn’t heard the noise nor be affected by the late night party scene. this is a top floor unit and again has a wall of windows for lots of natural light. According to the tax records this one has approx. 1800 sq.ft, plus it has access to the roof, so if you wanted to build a private rooftop deck in the future, you could. The only drawback is the kitchen, which could definitely use a major facelift. This a good space that you could definitely add your personal touch to and make it into a gorgeous loft! Currently on the market for $250,000. For more information on this loft at Castleberry Square click here.