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The Value Is In The View - It's Sexy

The Value Is In The View - It's Sexy

J W Group Twelve Centennial

 

In 2012 I worked with a young first time home buyer looking at condos.  We looked at several condos all over downtown Atlanta, midtown Atlanta and Buckhead.  Some worked for my buyer and some did not.  He was searching for that right one for his first.

SEARCH for Available Units in Twelve Centennial

We participated in multiple offer round after multiple offer round after multiple offer round - you get the picture - until we found the right one that made total sense for him - a two bedroom two bathroom unit at Twelve Centennial.  After we found it, we learned that the Twelve Centennial unit was a short sale.  So we submitted our best offer, and we won the multiple offer round.

Now the wait.  Remember this Twelve Centennial unit is a short sale, so we need to know that the seller receives approval from his lender to participate in the short sale AND approves the contract signed between the buyer and seller.  Weeks go by with constant promise each week from the listing agent that we will have an answer any day now.  

Finally, the listing agent tells us that the seller's lender is requiring the seller to bring money to closing and the seller does not have it.  My buyer can't do any more.  Deal is busted.  A few days later we see the Twelve Centennial unit listed again as a short sale with a different listing agent.  "Let's go for it," says my buyer.  

Once again we win the multiple offer round, and now we wait.  Quite frankly I was surprised the bank was continuing to entertain the seller's request for a short sale again.  The wait was not nearly as long this time around.  The seller's bank had a new broker price opinion and determined they would accept X which was $20,000 more than what my buyer could offer.  Deal is busted.

Are we done?  Not yet... The Twelve Centennial unit is foreclosed upon shortly and comes up on the market on a Saturday evening on Fannie Mae's HomePath website.  I get the call from my buyer and write up the offer.  We want to reach the finish line before anyone else had a chance to make an offer.  We get our full price offer in on Monday morning.  

Just when we thought we had this Twelve Centennial unit wrapped up for purchase, the listing agent makes us aware that there are other offers.  And now we have to win the multiple offer round.  Guess what?  We win again.  Now we know that this Twelve Centennial unit MUST be the right one.

Now what is so great about this unit?  It is the VIEW.  That's right - the picture you see in my banner and above is the view from this unit at Twelve Centennial on the 30th floor.  

This view faces north of the city and is excellent, looking out over Georgia Tech, the Bank of America tower, the Coca Cola tower, the Varsity, Emory University Hospital and so many other great places in the downtown/midtown area of Atlanta.  And the night time VIEW with the city lit up is in a word 'sexy.'

This view which is pretty much unobstructed will continue to be a crowning feature of this unit.  And today this Twelve Centennial unit will yield a 23% gain over his purchase price in 2012.  That's another hidden gem.

For help with buying or selling in Twelve Centennial, please give our office a call at (404) 418-8092 extension 8.  We will be happy to help you.

    

LOGO - Sales

Office 404-418-8092 Cell 404-246-3210 Fax 404-991-3770

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Comment balloon 9 commentsJordon Wheeler • February 10 2014 05:49PM
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