Summer 2018 issue of The Beacham Insider released

The Summer 2018 issue of The Beacham Insider is redesigned with an emphasis on white space, color, and quick takeaways that will you quickly capture the pulse of the market. Much emphasis is also placed on explaining the abnormalities in the market, which areas are hot, and what to expect in Atlanta real estate the rest of the year.

We are often asked, why is inventory so low? Marci Rosell, formally chief economist for CNBC and now chief economist for Leading Real Estate Companies of the World, points to demographics.

The continued slowdown in Atlanta home sales along with the unabated year-over-year surge in average home sales prices are the biggest takeaways in the recently-released summer issue of The Beacham Insider. However, the market results from the first part of 2018 bely a complicated story about the factors and facets of the Atlanta real estate market right now.

A persistent lack of housing inventory priced less than $750,000 (higher in some areas like Buckhead)along with a surplus above that threshold continues to play havoc with the market and create vastly different scenarios for buyers and sellers. The reason for this divergence has a lot to do with population demographics. Marci Rosell, formally chief economist for CNBC and now chief economist for Leading Real Estate Companies of the World of which Beacham & Company is a member,  says to think of America’s population as a “barbell” with Baby Boomers on one side and Millennials on the other (withGen X the tiny handle in-between). Nearly 7 out of 10 homes in U.S. are bought or sold by either a Millennial or Baby Boomer. Millennials and Boomers are, in many cases, pursuing the same type of housing (albeit for different reasons) which is extending an unprecedented housing inventory shortage – and making the inventory of larger more expensive homes rise. Until more Millennials age into the market for homes affluent Boomers want to sell, inventory of $2 million-plus homes will continue to rise.

 

“The data shows that a (luxury) property either sells very quickly out of the gate for a high percentage of its asking price, or it lingers on the market and sells at a much later date for a much lesser percentage of the original listing price.”

-Wall Street Journal article describing the “off the top”nature of the luxury real estate market / May 3, 2018

 

Marci Rosell, formally chief economist for CNBC and now chief economist for Leading Real Estate Companies of the World of which Beacham & Company is a member, says to think of America’s population as a “barbell” with Baby Boomers on one side and Millennials on the other (with Gen X the tiny handle inbetween). Millennials and Boomers are, in many cases, pursuing the same type of housing (albeit for different reasons) which is extending an unprecedented housing inventory shortage.

 

Number of years it would take to sell every home in Atlanta priced more than $3 million at the current rate of sale if no new listings were added.

TAKEAWAY: The luxury market “barbell” is unbalanced to the Baby Boomer side and that is likely to continue to be the case for the immediate future. 

 

 

The percent of single family housing inventory as a percentage of U.S. population – an all-time low.

TAKEAWAY: Without more new construction and renovation/ regentrification, this number isn’t likely to materially improve in the near term.

 

What do local experts predict for Atlanta real estate in the second half of 2018 and beyond? Read the Insider to find out.

#  #  #

Beacham & Company, REALTORS is Atlanta’s top-selling luxury real estate office. The firm was founded in 2006 by Glennis Beacham, one of Atlanta’s most celebrated real estate agents. The firm has 100 agents who average $7 million in sales per agent, more than any other Atlanta real estate firm.

A free-standing house in Morningside

Atlanta’s Morningside Neighborhood Explored

With its prime location, stately homes and numerous shaded parks, Atlanta’s Morningside neighborhood is a definite standout. Since its development in the early 1930s, Morningside has boasted a strong sense of community. That was never more evident than during the 1960s, when the city of Atlanta attempted to raze significant parts of the neighborhood to build Interstate 485. Residents banded together in protest, and the city ultimately dropped its plans. That’s not just good news for those who already lived there; it’s terrific news for anyone who wants to find a lovely home in a quiet, secluded – yet centrally located – Atlanta neighborhood.

Peaceful living in the heart of Midtown

Barely over a century ago, the area where Morningside is now located was considered to be on the outskirts of the city of Atlanta. In fact, it wasn’t even officially annexed by the city until 1925. For many years, residents mostly commuted into the heart of the city via a popular steam train line. The automobile changed all of that, of course, and Morningside was able to adapt right along with the new form of transportation. The actual neighborhood wasn’t planned or developed until the early 1930s, so it boasts a compelling blend of modern convenience and natural aesthetics. Continue Reading

Two story home with trees

Smyrna Offers Luxury Living in Atlanta’s Suburbs

If you’d like to enjoy the perks of suburban living while being just a short drive away from the heart of downtown Atlanta, set your sights on Smyrna. This charming, tight-knit city has a population of just over 50,000 people and is bordered by Atlanta on one side and the mighty Chattahoochee River on the other. Major revitalization efforts, which began a few decades ago, have turned this once sleepy suburb into a popular choice for professionals, growing families and people from many walks of life. Gorgeous older neighborhoods are interspersed with a variety of exciting new construction and a smattering of master-planned communities to make Smyrna an eclectic and convenient place to call home.

A City on a Major Upswing

The city of Atlanta boasts many vibrant neighborhoods, but not everyone is interested in living in an urban environment. For a long time, Smyrna was relatively cut off from the big city. Although the town was incorporated in 1872, it was a quiet, unassuming place throughout much of its history. In the early 1990s, however, that all started to change. Market Village, a major redevelopment project, put Smyrna on the map in a big way. This opened the floodgates to a huge array of exciting developments, and Smyrna is now one of the hottest options for people who want luxury living near Atlanta.

Spectacular Services and Amenities in the Jonquil City

Smyrna has long been famous for the thousands of beautiful jonquil flowers that bloom throughout it during the spring and summer months. The Jonquil City has bloomed a lot in its own right, with many old, blighted strip malls and other developments torn down and replaced with snazzy mixed retail/residential/office developments. Residents enjoy easy access to the Silver Comet Trail, a paved and maintained rail trail that stretches all the way to the Alabama border. In recent years, a new, state-of-the-art library and a first-rate community center have been developed as well.

Take Your Pick from Several Incredible Neighborhoods

Neighborhoods in Smyrna generally flow freely from one to the next, which fosters a sense of community throughout the city. Some of the finest new homes can be found in the master-planned enclave of Vinings Estates, which includes pools, clubhouses and sprawling home sites. Williams Park, the oldest neighborhood in the city, is studded with well-maintained homes. Older and newer homes, townhouses and condos are readily available throughout Smyrna, making it easy for anyone to find the perfect place to live in metro Atlanta.

Photo: 2200 Cumberland Drive Smyrna, Georgia, 30080

Beacham.com Site Redesign

Beacham & Company launches ‘future ready’ website

Beacham & Company published its first website makeover in nearly two years today using the most modern web platform available – a platform deemed ‘future ready’ by the website design industry. The new site takes advantage of WordPress technology which is fast-gaining acceptance in the business community and is now used by more than 40 percent of Fortune 500 companies worldwide.

WordPress is called ‘future ready’ because it is scalable, constantly updated and features more than  31,000 plug-ins for adapting sites to the most current demands of tech-savvy consumers. WordPress also enables enhanced compatibility with tablets and smartphones, allowing users the same functionality as a desktop user would experience.

Dac Carver, Vice President and Managing Broker of Beacham & Company, said: “We are thrilled with the new look, which is even more elegant than the previous version of the website. We are also pleased to be the first among our competitors to utilize the Internet’s most modern design platform.”

Carver said that while WordPress technology has created all sorts of possibilities for the future of the firm’s internet presence, the most exhilarating and obvious benefit of the new website for Beacham clients and other visitors is the now enormous display of property photos – perhaps the largest property photos of any real estate website in North America.

“The technology behind the site is exciting for those of us who are into that sort of thing, but the enhanced importance we give to property photos now is what everybody notices,” Carver said. “The first day we launched the site, we had a call from a buyer off the website who couldn’t believe how large the photos are. She thanked us and then asked to speak to one of our agents.”

Visitors to the Beacham website can create user accounts to save searches and receive new listing and price reduction alerts. Unlike many real estate websites, registration is not required to use the site. To visit the new Beacham website, go to: beacham.com.

Beacham & Company, Realtors is an independent, locally-owned, full service residential real estate brokerage firm that specializes in Atlanta luxury real estate. The firm is located in the heart of Buckhead at One Buckhead Plaza next to the St. Regis Hotel and has more than 80 licensed sales associates. Beacham is the top selling office in Atlanta by dollar volume of listings sold and its agents are the most productive by dollar volume of real estate sold.

Beacham & Company closes first resale in history of the St. Regis Atlanta

Beacham & Company agent Troy Stowe was the listing broker of record for the closing of the first resale condominum in the history of the St. Regis Atlanta. All previous condominium sales at the St. Regis Atlanta were new condos.

With a sales price of $2.9 million, this historic sale also became the second highest sales price ever attained for a resale condominium in Atlanta real estate history. The 17th floor condo has three bedrooms, three and half bathrooms and southeast views. The deal closed May 1.

Stowe is one of the top selling agents in Atlanta real estate over the last five years. He holds the record for the highest sales price in Atlanta MLS history ($12 million in 2011) and the highest MLS sale of 2012 ($6 million). Because of his expertise and accomplishments, Troy has appeared on several TV shows including HGTV’s TVs and Million Dollar rooms.

“The St. Regis is an amazing building,” Stowe said. “There is no other building like it in Atlanta and the location is phenomenal. It was a pleasure to represent the seller in this transaction.”

According to the St. Regis Atlanta website, the St. Regis Atlanta was “inspired by the grand hotels of New York and Paris while designed in harmony with Atlanta’s heritage of southern hospitality.” The landmark building was created by the renowned architectural firm of Rabun Rasche Reece and completed in 2009. Inspired by the classic Beaux Arts architecture of The St. Regis New York and other illustrious hotels of the early twentieth century, the St. Regis Atlanta includes a 151-room hotel and 53 private condominum residences above the hotel. The residences are accessed only by private elevators and owners have more than 220 St. Regis staff on hand to provide uncompromising service.

Beacham & Company, Realtors is an independent, locally-owned, full service residential real estate brokerage firm that specializes in Atlanta luxury real estate. The firm is located in the heart of Buckhead at One Buckhead Plaza next to the St. Regis Hotel and has more than 80 licensed sales associates. Beacham is the top selling office in Atlanta by dollar volume of listings sold and its agents are the most productive by dollar volume of real estate sold.

The Beacham Insider – April 2014

The Beacham Insider - April 2014Spring is here, so why are Atlanta real estate sales trending downward? Find out why in the April 2014 issue of The Beacham Insider. We also discuss Atlanta’s changing demographics and how an aging population is putting pressure on high-end sales. We also explain why Zestimates are so inaccurate and why the advice of an agent results in a 59% greater average sales price than properties not listed by an agent. We also review Atlanta’s top selling neighborhoods over the last five months – the hottest neighborhoods being Ashford Park, Garden Hills, Morningside, and Virginia-Highland.

Click here to read more in the April 2014 issues of The Beacham Insider.

Beacham’s Beechwood listing is one for the books and the AJC!

The Haverty Group at Beacham & Company has a listing at 1165 E. Beechwood Drive that rewrites the book on transformations. After undergoing an epic renovation, this home has won awards, been featured in worldwide publications, and even provided the backdrop for a 2012 Doritos Super Bowl commercial. Most recently, the home was featured in the Atlanta Journal Constitution’s Private Quarters section. Click here to view the article.

The flawless kitchen and chic baths are easily the  most impressive elements of this classic yet newly modernized home. The kitchen, with its verde butterfly granite countertops, was part of the Junior League of Atlanta Tour of Kitchens that took place in March. The home features cutting edge innovations in technology including power strips and a built-in downdraft that rise out of the counters.

Here are some photographs of this gorgeous Buckhead home:

5269997_0

5269997_1

 5269997_4

5269997_3

5269997_2

5269997_5 

For more information or to schedule a showing, please contact Nan Haverty or Kim Foley at (404) 261-6300.

1955 West Paces Ferry & 4660 Polo Lane featured in the WSJ, today!

Look out! 1955 West Paces Ferry Road and 4660 Polo Lane are putting Atlanta on the map, and in The Wall Street Journal. Both of these gorgeous homes are featured in the exclusive mansions section of the worldwide publication, today. 

5228281_01

1955 West Paces Ferry Road is a true example of architectural art. This 3.5 acre estate is surrounded by 15 acres of nature in the heart of Atlanta’s premiere neighborhood of Buckhead. Listed at $2,399,000 with luxuries such as a resort-style heated pool, this 6 bedroom/5 bathroom beauty is too good to pass up.

wp

For more information on this home, click here. 

To set up an appointment, contact Nan Haverty or Denise Miller.

Be sure to check out our other properties on the prestigious Atlanta street in last month’s blog post! 

If you haven’t seen 4660 Polo Lane, you’re missing out on this enchanting Vinings masterpiece. This stunning home sits on lots of beautiful acreage with a barn, a heated gunite pool, a three car garage and a stunning great room with antique beams and limestone fireplace.

5237659_0

For more information on this home, click here. 

To set up an appointment, contact Beth Nellis. You can email her at bethnellis@beacham.com or call (404) 218.2930.

 

Get to Know Our Listings on West Paces Ferry Road!

West Paces Ferry Road is unarguably Atlanta’s most prestigious street. Tourists don’t visit the city without taking a drive under its storybook canopy of grandfather trees to feast their eyes on the fabulous houses that line the world famous road. The Governor’s mansion, currently home to the Georgia Governor Nathan Deal and his wife Sandra, is just one of the many works of architectural art found on this gorgeous street. Currently, Beacham & Company has three listings on this classic street. As does every home on West Paces, each listings has a unique personality and story behind home that sets the house apart.

1955 West Paces Ferry Road redefines the phrase “one of a kind.” Surrounded by about 15 acres of nature, you’d never know this 3.5 acre estate was located at a premiere address in the heart of Buckhead. The current homeowners enlisted the help of Frederic Schwartz, a world renowned architect known for his ability to seamlessly blend art and architecture. With this particular project, the team had three objectives. To quote the homeowner, their goals were, “first, to design a floor plan that included no wasted space, would operate at peak efficiency and which would completely complement the wide ranging spatial needs of our growing and active family.  Second, to build a unique living environment that takes full advantage of the unsurpassed beauty of one of the most dramatic and private properties in Georgia.  Third, to construct a visually appealing home that fits our more modern tastes while complementing the surrounding, more traditional neighborhood.” The house’s design is rooted in classic modern architecture. Windows frame the backside of the house illuminating the inside with natural light and giving onlookers a stunning view of the home’s natural surroundings. In the evening, accent lighting brings the home alive, creating a gorgeous backdrop for nighttime entertainment or family living. The property’s professional landscaping features a resort-style heated pool that whisks sunbathers out of town without ever having to leave the backyard. Other highlights include a commercial generator, wine cellar, steam and sauna and fitness room.

5228281_0

Continue Reading

Beacham & Company Donates Toys to the Families at the Genesis Shelter!

With the mad dash to pick out the perfect gifts, the pressure to throw the most memorable bash and a jam packed social calendar, the true meaning of the holidays can easily get lost in the wintery mix. For several years now, Beacham & Company has made sure that doesn’t happen. While the firm is involved with countless charities, they spend much of their time and energy supporting the Genesis Shelter, an Atlanta nonprofit committed to changing the lives of families in need. The organization’s mission is to “provide a supportive environment that enables homeless newborns and their families to achieve positive life outcomes for this generation and those to come.”  Throughout the year, the agents participate in fundraising and projects to support the charity, but spreading holiday cheer to the shelter is their favorite way to get involved.

Genesis Shelter 2013 001

Continue Reading