Community Focus: Cross Creek

Community Focus: Cross Creek

By Bill Forrest, Realtor

Just looking at these three photographs you would think that you are far outside the perimeter at a golf and tennis retreat in the foothills. Close but not quite so.

Cross Creek is a hidden gem located in the heart of true Buckhead with-in the exclusive 30327 zip code. The feeling you get living here is that you are far removed from the city. Actually you are in the heart of it, just minutes to everything. This is achieved by having 122 lush acres on Peachtree Creek, just off I-75 between Moore's Mill and Howell Mill exits; Just off Peachtree Battle.

'Buckhead's Best Kept Secret' the History...

This community is not a secret but so many have not heard of it especially those that have not grown up in Atlanta. Ask anyone that lived in Buckhead in the late 70's or early 80's and with a sheepish grin they will say "Oh Yeah I Know Cross Creek."  This place was the place to be if your were single and it was the life of the party in Buckhead. There are stories that are too funny to believe that actually happened here.  I am told that they are all true. That is what happens when you mix  Delta Pilots, Braves Players, Flight Attendants, TV Personalities, and a host of other crazy fun people with generous servings of alcohol from the Cross Creek Cafe.

Now those risque days of dancing on the bar, wearing next to nothing are long gone but the vibe here is far from stoic. Cross Creek is well under way with a renaissance that is exciting to be part of and watch. It is a great place to live that offers a vibrant social and resort lifestyle in the heart of the city. Past the Cafe, Beyond the Guardhouse and the friendly gate attendants, there is a major exterior renovation taking place and the second phase is almost complete.  In addition, over the last year or so all of  the tennis courts and two of the three pools have been completely rebuilt.  As part of that the pools are being converted to salt water from chlorine. The golf course has had some renovations too.  This walking course is unique to Atlanta.  It is a par three executive short course with the longest hole being 165 yards. Residents only pay $7 for 18 holes.

The Condominiums:  Country Club Living without the County Club Price

One of the great things about being older property is that the units are stunningly huge. Many have sunrooms and even wood burning fireplaces. The 30+ floor-plans range from 850 sqft One Bedrooms, to 2500 sqft Three Story Townhouses, to even 2600 sqft Four Bedroom Flats. There is a size and floor-plan to fit just about any taste/need. There are even Studio Lofts available from time to time. Recent sales make Cross Creek one of the most affordable communities in Buckhead.

See full details at www.CrossCreekATL.com

Call me today at 404-353-9233 for a private VIP tour of our community and all that it has to offer.  I love living here and you will too.

Bill is a Associate Broker at Common Ground Real Estate Team in Atlanta,  A Division of PalmerHouse Properties more details at BillForrest.com

Still Paying Rent? How Would You Like $600,000.00?

Still Paying Rent?  How Would You Like $600,000.00?

By Bill Forrest, Realtor

If you are reading this chances are that you just don't get why home/condo ownership is such a big deal.  No worries we will show you.  You are young right?, Living in the moment not thinking about long term, and Thinking this apartment is good enough for now, Right?

Chances are if you are living in Midtown, Buckhead, or Another trendy area you are paying $1500 a month in rent for a 1 or 2 bedroom apartment or condo....with absolutely no return on your money

The Biggest Reason to Own is Building True Wealth

No, this is not a pyramid scheme or network marketing. This is what the other 65% of Americans already know. Home/Condo ownership is about building true wealth effortlessly for them, effectively for free.  

For $1500.00 a month you are currently paying you could own a great condo that has better amenities, space, finishes and appliances than your apartment in the same neighborhood.  With interest rates at a all time low it is truly cheaper to have something better by owning. An you could have $600,000.00 or more in real wealth over time essentially for free as well.

But Why? The $600,000.00 Question

Rent is just that rent.  You get nothing in return for your hard earned money.  With ownership there are two major things in play.  As you pay a mortgage you are paying off the loan.  That is not rocket science. But what makes this even more powerful is that the property is appreciating or increasing in value at the same time. Yes it is not a constant, There are peaks, valleys, and market corrections.  But history has always shown that home values consistently appreciate over time long term. Even with the recent market correction, over the last 30 years, there has been a average annual appreciation of 3.4%.  That doesn't sound like a lot of money but its surprising. lets play it forward:

(This could be much more if the appreciation rate is higher than 3.4% or if you make major improvements to the property.  Nothing in life is guaranteed but this believed to be solid and conservative.)

So with today's interest rates, For $1500.00 a month you can get a great $210,000.00 condo. ( That monthly mortgage payment includes principal, interest, taxes, insurance, and HOA.) So if you pay rent over the next 30 years you have nothing. But history shows us that for the SAME payment if you own instead, You can have built true wealth of over $543,000. Why, that 210K condo you bought in 30 years should be worth $543,000.00 or more and you then owe NOTHING on it...

Where is the other $60,000.00 you ask?

TAX REFUNDS...  Yes! the mortgage interest that you pay each month and your property taxes are tax-deductible on your income taxes.  If you have a great job and are in the highest tax bracket, that refund for you first year could be as much as $3933.47. Even better is the $81,324.57 in possible tax refunds over the life of the loan. 

Yeah that's thirty years from now, What about short-term?

Based on the above example of market appreciation of 3.4% even the first year you will see gains (some condos and homes in Atlanta are appreciating at 18% currently). Year One:  $7,140.00 equity increase and tax return of 3933.47 possible.  In year five that jumps to over $50,000 in appreciation/equity and a 5 year total of over $19,000.00 in tax returns are possible. With renting: ZERO Wealth.

Why Buy Now?

Because of the market correction and interest rates.  There is a old rule in real estate that still holds true today:  If you buy low it doesn't matter when you sell; you will make money. Most properties are still undervalued in the Atlanta marketplace and are currently appreciating as much 18% annually right now.  This of course will flatten out, but now is the time to buy.  By most all accounts, Interest rates are at a all-time low and are only going to go higher as the economy expands.

How Do I get Started?

Call me and I will help you find the right lender for you to reach your real estate goals. Once we have your loan secured; then I will help you find your 'Ideal Home.' Best of all my services as a Buyers Agent are free. A Buyers Agent works for you, Their loyalty, confidentiality, and fiduciary responsibility is to you, but paid for by the home-seller. They agreed to pay a buyer's agent commission when they listed the home for sale thus free to you. Give me a call at 404-353-9233 or E-mail and I will be happy to send you my guide to home/condo ownership that explains how the process works, how I make it fun & painless for you, and why NOT having a Buyers Agent can cost you thousands.

Another Good Article about why home ownership can be found here:

http://www.businessinsider.com/10-major-advantages-to-owning-a-home-2014-9

More about Bill can be found at BillForrest.com

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