I found a few other foreclosures that are definitely worth picking up. The first one is at Glen Iris Lofts for $154k. This is a 1/1 with approx. 1000 sq.ft. It is also located on the top floor of the first phase. Glen Iris Lofts are located in Poncey Highland which is a terrific area to be in due to the proximity retail. They also just broke ground on a park across the street which is going to be huge for this area. Glen Iris Lofts is a 7 year old building and is probably one of the best constructed loft buildings in Atlanta. Everything is top of the notch including all bosch appliances, gorgeous hardwood floors and large windows. Typically, this loft would probably sell in the $220 range in a good market.

See More information on Glen Iris Lofts

The next foreclosure is over at Mathieson Exchange Lofts in Buckhead. This foreclosure is a 2/2 and is priced at $245k. That’s pretty hard to beat at this building! Typically, this loft would sell in the low 300’s in a good market. It does have approx. 1100 sq ft. and the floorplan is very nice as well. Mathieson Exchange is also a 7 year old building and is pretty popular amond loft buyers in Buckhead. The building does have 24 hour concierge, swimming pool, fitness center and extra storage.

See more information on Mathieson Exchange Lofts

The next one is located in the MLK District on Edgewood avenue. This one is more of a condo than a loft but it’s definitely a steal. It is a 2/1 currently priced at $175k. It also a large deck with nice views of downtown. If you are not familiar with the area it has grown immensely in the last couple of years, not only are you next to Thumbs Up Diner but there are also several new restaurants that have opened up. This area is still a bit in transition but it give it another couple of years and it will be highly desirable. 

See More information on 513 Edgewood Lofts

**Special Incentive***Use one of our buyers agents at 9 Mile Trolley - The Loft Stop as your exclusive buyers agent and we will contribute $1200 towards your closing costs! Must close on property by Nov. 30,2008!

So this is really rare to find, a 3 bedroom loft foreclosure and not only that, it is a penthouse unit located in the heart of downtown Atlanta!  This place was on the market a year or so ago for almost $700,000, however the foreclosed price is at $380,000!  What a frickin good deal!

To give you a little more detail, it is 3 bedrooms with 3 full baths.   It is approx. 2700 sq.ft and located on the 9th Floor of the building. It has terrific views of Atlanta and it also has it’s own seperated rooftop deck plus it also has a couple of balconies off the main living area.   The 2 main bedrooms are located on the main level but there is a lofted bedroom with it’s own wetbar and bathroom.  There is also a double sided fireplace situated between the living and dining rooms.

The building does not have any amenities(ie. swimming pool, etc) but it does have garage parking. Plus, it is located downtown so you can walk to everything.  Downtown has really become a nice place to live within the last year!

The drawback of course is the monthly HOA fees at $631 per month BUT it is in a property tax abatement for a few more years so having the lower property taxes sort offsets the high HOA fee. 

I cannot stress how great of a deal this loft is!  Most of the 2 bedrooms with less sq.ft in this building are selling at the same price if not for more!  This is a great opportunity for someone who is looking for large sq.ft with almost 2700 sq.ft! 

If you would like more pictures of this Atlanta Loft Foreclosure, feel free to email me at nesa@theloftstop.com - Nesa Kleinheksel

Contrary to all the media hype there are not that many loft foreclosures in Atlanta. I don’t know how it is any other city but in Atlanta there is not that many. Looking at what is listed in the FMLS, there are only 10 lofts out of thousands that are foreclosures. In my opinion there is just 1 unit out of that 10 that I would say is a extremely good deal. Time after time I see buyers putting in  offers in on a foreclosure and let me tell you the banks aren’t negotiating, especially the ones that have already slashed the prices. Buyers are missing out on golden opportunities because they thought they could get these foreclosures for more than 20-30% off the asking price.  When the bank doesn’t budge these buyers get really upset and just walk away but in reality even at full price most of these foreclosures are great deals and way under value. When the banks list these properties on the FMLS system they have already slashed the price when they listed them, so it is highly unlikely that you will get more than 5% off the asking price. Plus, you have to keep in mind that you are competing with plenty of other buyers and investors that are looking for the same thing, so if you find a good deal you will need to jump on it because they go fast or you get stuck in that lousy situation where there is another offer that came in right behind yours which creates a bidding war.

Looking at normal resales on the market right now, I see plenty of other lofts that are good deals just because the owners have been transferred or are ready to move on to something else. For example, there are 2 units at The Factory Lofts that are both priced at $364k both owners paid around $400k for them, my listing over at Lofts at The Belvedere that is priced at $205k, that owner paid $219k for it a couple of years ago. These owners didn’t buy overpriced units, that was the going rate a couple of years ago for them. I am also seeing developers starting to negotiate as well. The Marble Lofts are willing to take off $15k off their prices, Studioplex has been negotiating, Lofts at Sutherland Place are willing to take off 30k off their units and so on.

So, don’t just think that you have to find a foreclosure in order to get a good deal because there are plenty of other things out there right now that are just as good.

It’s been awhile since I have seen any 3 bedroom lofts on the market lately and finally a few have popped up in the last couple of weeks so I thought I would make a post about them. Unfortunately , three bedroom lofts are not cheap but for those who are looking for a low maintenance way of living rather than dealing with a single family home there are some really cool options out there. Below is a brief outline of 3 bedroom lofts that are currently available.

Plexus on Ponce - located on Ponce De Leon and Briarcliff. Walking distance to the upscale shops and restaurants in Virginia Highlands. This is a modern loft and has exquisite features and details including copper and steel accents. They also have 2 car garages. Currently, they have 2 three bedrooms units available priced at $599k and $635k, they also have a 4 bedroom available for $750k.

Sager Lofts - Sager Lofts are a newer modern development. All units are zoned live/work and actually most of them are used for business’. There is currently 1 three bedroom unit available priced at $519,900k. This is a large unit with approx. 2800 sq.ft.! The current owner did some upgrading that the other units do not have including a 2 way fireplace, designer lighting and a steam shower! They also have 2 car garage parking.

5 Krog St - the next modern loft is on Krog Street, which is near Inman Park and walking distance to Rathbun’s and couple other restaurants. This particular loft has a private yard with a Koi Pond, 3 private terraces and a ton of space. They also have a 2 car garage. The best part about this loft is no MONTHLY HOA FEES! Very unique space. Currently priced at $499,900.

If you really want to go big you need to check out this 2.9 million loft in Castleberry Hill. This loft has 4 floors and a private rooftop deck with a 8 person hot tub. The sq.ft is over 8500 sq.ft.!! Dang, now that’s a mini mansion! Again, no hoa fees!

If you would like more info on any of these feel free to email me for pictures and info at nesa@greatatlantalofts.com - Nesa Kleinheksel

A new S House Design Loft just came on the market down on Marietta Street. Zoned live/work and NO MONTHLY HOA FEES!! That’s rare to find something like that! This is a 3 level loft with approx. 1500 sq. ft. . 2 Bedrooms and 2 Full baths. PRIVATE ROOFTOP DECK with city view & GARAGE PARKING. Additonal features include: All white minimalists’ interior, opaque glass front cabinets, TWO BEDROOMS and TWO BATHROOMS on separate floors, halogen lighting, oak hardwoods and concrete floors, oak stair treads, architectural railings.

Currently Priced at $379,000

Need more info on this new live/work loft in Atlanta? Contact Nesa with 9 Mile Trolley Realty at 404-579-9307 or nesa@theloftstop.com

Hi Everyone,

Check out our other blog about Atlanta condos at www.greatatlantacondos.com/blog .  I just wrote a post about a new listing in Kirkwood for $139,900.  

Commercial loft in Castleberry Hill available to rent!  Nice Store Front on Peters Street with approx. 1000 sq. ft. Open Space with lots character including cement floors and exposed brick.  Full bath.  Private entrance off Peters Street.  Full kitchen and half bath will be shared with attached clothing store.   Rent is at $2000 per month. Tenant will be responsible to pay electricity.   Sorry, no bars, restaurants or clothing stores.  Perfect space for art gallery or office space.  Contact Nesa at 404-579-9307 or nesa@theloftstop.com

A new listing just came on the market at one of my favorite loft buildings in Atlanta.  The Locust Lofts in Decatur is small community consisting of only 13 units. Personally,  I love small communities!!   This loft is pretty unique because it is 3 stories and it has a garage door that opens from the living room to the deck, which is really hard to find.  There is also lots of green space in between the 2 buildings which is perfect for those of you that have pets!!  Each unit has their own driveway which can fit 2 cars.  

This is a 2 bedroom, 2 bath loft with high ceilings, a beautiful master bath,  and a ton of space, plus it is only a mile to the Square in Decatur!!

It is currently on the market for $279,900.  That is a really good deal!!  Trust me, this is a cool place and a good deal.  Plus, it is so rare to find a cool small loft community in Atlanta.

If you are interested in more info and pics please contact me at nesa@theloftstop.com

I look every day to see what new lofts come on the market in the Atlanta area and came across a foreclosed loft that is unbelievably cheap. I sold the exact same unit next to it a couple of years ago for $40k more.  This is a 2 bedroom / 2 bath loft plus it has a huge mezzanine level that could be used for a 3rd bedroom, additional living room or office space.  The sq. ft on it is just over 1700 sq. ft. It is currently on the market for less than $240,000.  The big drawback is the monthly HOA fees are at $385 per month.  That's a Bummer…however I do not know of any other lofts that have this amount of sq. ft. for this cheap in the Atlanta area…

This building is really nice and the units tend to sell pretty quickly and the location is decent as well.   I haven't been inside the unit as of yet so it could be a huge mess but since the building was constructed only a couple of years ago there couldn't be too much wrong with the place except maybe cosmetic stuff.   I will probably swing by there on Sat. to check it out and will post more info about it. In the meantime, if you want more information just email me at nesa@theloftstop.com .