Tag Archives: realtor

THE APPRAISAL PROBLEM

11 Monday Feb 2013

Posted by in real estate

≈ Leave a comment

Tags

, , , , , , , , , , , , , , , , , , , , , , ,

Appraisal BalanceYou have probably heard this by now, but the Atlanta market, in most areas, is rapidly becoming a SELLER’S market again! We have more buyers than we have good, well-priced inventory, and as a consequence listings that are in good condition and well-priced are going quickly, sometimes with multiple bids.

Sounds great for sellers, and it is – but there is also a catch.

Almost every final purchase contract contains an appraisal contingency. The appraisal contingency states that the property must appraise at or above the contract price. If the property does NOT appraise, the buyer presents the appraisal to the seller, and the seller has the opportunity to agree to pay at the reduced appraisal price. If the seller does not agree to that, the buyer may terminate.

Here is where we often get into a big problem. By definition, appraisals are backward looking. The appraiser looks at similar properties that have sold in the recent past within a certain geographic radius. Even when the market is rapidly improving, the appraiser is bound by the sales that took place in the past. So as you can see, prices cannot rebound suddenly and quickly; the appraisal process does not allow that. Prices must rise more slowly and steadily, as appraisals must build upon homes that have already sold. Good appraisers will also research other properties currently under contract and set to close, which is helpful; but cannot completely take into account a market where suddenly there are more buyers willing to pay more for houses.

To illustrate, good well-priced homes are selling with multiple bids within days of being put on the market (or even BEFORE we list them). The contract price is often higher than the home will appraise for, so buyers are even, in some instances, agreeing to pay extra cash to pay ABOVE appraised value. There is one listing where the buyer agreed to pay $75,000 OVER the appraised price; while that is more than most buyers would be willing to cover, there are others willing to pay more than the appraisal says the property is worth.

And it’s not just home sellers who need to take this into consideration. Any homeowner who has a need to determine the current value of the property should take heed of this dynamic.  For instance, divorces. What this means is that if you are the divorcing party accepting a “payout” you may want to either wait some period of time before you agree to appraise the house for  the payout, bargain for a higher payout that might otherwise be negotiated, or provide in the settlement that there will be another appraisal in a year, having the party keeping the house pay you half of the increase in value in the home at that time.

If you are curious what your home might be worth in this market, here are some of the pertinent factors.  If you contact a Realtor, while they are not appraisers, they can pull comparable properties for you and give you an idea of what your property might be worth in this market:

  • How many beds/baths?
  • What type construction (brick, frame, vinyl or stucco?)
  • What style (two story, ranch, split level?)
  • What year was the house built?
  • Any significant upgrades or renovations and if so, what year – and a short description of what was done.
  • Parking – is there a garage or carport?  Two car?
  • Square footage of the home and acreage of the lot.
  • Neighborhood and school districts.

Armed with this information, a Realtor can help you determine whether or not your home is in a high demand area and poised to receive top dollar in this improving market. Just keep in mind that you should also have a strategy for handling the appraisal if it comes in lower than your contract price.

WHAT HAPPENS AT CLOSING?

29 Tuesday Jan 2013

Posted by in real estate

≈ Leave a comment

Tags

, , , , , , , , , , , , , , , ,

Closing Table

You have found your dream house. Made an offer, came to terms, got through inspection.  Finalized the loan and have prepared to move. Once all that is done, there’s nothing left but the final – and crucial – hour. The closing.

So what happens at this mysterious event we call “THE CLOSING”?  Many buyers are intimidated by the closing, particularly since it takes place in a lawyer’s office and involves signing page after page of legal documents. Enough to give anyone a headache.

But really, truly, you as a buyer should take a deep breath, relax, and ENJOY the closing.  Enjoy the free soft drinks and chocolate provided by the closing attorney.  Quiz the sellers about the neighbors and nearby stores and what they will miss most about the house. Laugh with your Realtor about the homes you saw that were awful (“remember that bright orange kitchen in that one house?”). Shake hands with your lender.

You can RELAX, because at this point if your Realtor and lender have done their jobs, the hard work is all done.

The closing attorney works for the lender. As a practical matter, the lender’s interests are aligned with yours, as the buyer. The closing attorney, weeks prior to the closing, ordered a TITLE SEARCH. A title search is a canvassing of the relevant county records to make sure that the seller owns the property and that there are no “liens” or claims against the property. If there are any liens, the closing attorney’s job is to clear those liens so that you are getting title to property clear and free of anyone else’s claims against it.

You don’t have to worry about any of this – because as the representative of the lender, the closing attorney has already cleared title. Pursuant to the Georgia contract, the Seller must convey clear title.  So if you’re sitting at the closing attorney’s table, title is clear. (If it’s not, the closing attorney will let all parties know and the deal will not close as scheduled until title IS clear; but typically if there is a problem you will know well in advance of the scheduled closing).

The closing attorney will first present all parties with a CLOSING STATEMENT – also known as a HUD Settlement Statement, or simply “HUD STATEMENT”.  HUD stands for Housing and Urban Development – the federal agency which mandates the form.  This and the note are the two most important documents in the closing – most if not all of the other forms are simply form documents that everyone must sign and which are the same in every closing. The HUD statement and the note are unique to you.

This is where your Realtor comes in – the Realtor represents YOU in the closing.  It’s our job to make sure the closing statement accurately reflects the financial deal between the parties.  It is a smart thing to provide your Realtor, also, with the Good Faith Estimate previously provided to you by your Lender.  The closing statement should reflect the charges in the GFE very closely (the margin of variance allowed is prescribed by law, and the closing attorney will go through with you any variance between the estimate and the actual statement).

We will check the other key document – the Note – to be sure it accurately reflects the amount of the loan, the term, the interest rate, and other terms of the loan.

There are many other pages of documents for you to sign – the Security Deed, the Truth in Lending Statement, a copy of your loan application. Most, again, are form documents – but the Truth in Lending Statement (or TIL) is worth some extra explanation here.

The TIL shows what you will pay in total over the life of the loan – adding principal and interest over the thirty years of a loan (or fifteen, if you have a fifteen year loan). It also shows a percentage – but this is very confusing.  It is NOT your interest rate. Throws buyers off all the time. It actually is your interest rate PLUS your closing costs, even if all or part of the closing costs are being paid by the Seller. Meant to be a helpful document, it’s really not. The most important thing for you to know about the TIL is that it’s not important – it’s simply for your information but must be signed. The Note and the HUD Statement govern – and they show your costs and your interest rate in a more easily understood manner.

Once you’ve signed all those documents, handed over the money you’re to bring to closing (which must be either wired or brought as certified funds), checks are cut, keys are handed over, and you own a new home!  It may seem a little anti-climatic at the time. But there’s always a big sense of relief and joy. Congratulations on your new home!

Frankly, My Dear… Antebellum is Making a Comeback

23 Wednesday Jan 2013

Posted by in real estate

≈ Leave a comment

Tags

, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

510 Londonberry FRONT

Atlanta will forever be associated with Margaret Mitchell and the famous novel Gone With The Wind – her tale of the Civil War South and the genteel characters who endured the war and its aftermath. Tara, Scarlett O’Hara’s fictional  home, never existed, and most real homes like it that did exist are themselves “gone with the wind”.  The quintessential architectural style of the period, and of Tara, is the Antebellum home – Antebellum means “before war” in Latin, and the term now applies to the style of certain homes built in the period prior to the Civil War which remain distinctly southern. The style is also known as Greek Revival or Classical Revival.  Not many remain in Atlanta and environs – there’s Bulloch and Barrington Halls in Roswell, but not many other examples.

But the Southern elegance and charm of the period do live on in select homes here.  Take, for example, this gorgeous Southern home on Londonberry Road, in the ritziest part of Atlanta. Scarlett would have died to live here. First, befitting a southern estate, it has a commanding presence from the street and a grand entrance featuring stairs up to a rocking chair front porch. Like many Antebellum homes, it features large Corinthian columns and a symmetrical façade.

DSC_3705DSC_3622

The home was designed by Mitch Ginn, an architect from Newnan, Georgia, for the original owner who specifically requested this style of home. Mr. Ginn and his firm have designed many homes in different styles – but some of their most memorable have been antebellum like this one. According to Mr. Ginn, “We design 150 to 200 homes a year, but the Greek Revival and Classical Revival styles are unfortunately few and far between. Popular styles today with future homeowners include Craftsman, Bungalow, and homes with English or French cottage influences. I guess I could say I look forward to a Greek Revival “revival”. “

Like many architects, Ginn enjoys recreating classic styles from the past: “I have always loved the timeless beauty and grandeur of the classical architectural styles. They are dictated by historic architectural structure and proportions. I am also a romantic sucker for the “image” of the Old South.”

The home Ginn designed on Londonberry parlays that image into the modern day. The lot was perfect for a sweeping driveway – and it made the most sense, given the lot, to place the swimming pool to the front and side of the home.  That showcases it as part of the “estate,  and allows a wonderful view of the pool area from the front porch. A meandering creek also wanders far below the home and to the back of the property, adding to the interest of the landscape.

DSC_3576510 Londonberry - outside

The interior of the home on Londonberry continues the grand southern feel with a sweeping stairwell (can’t you just imagine Scarlett making her grand entrance) and two story foyer. There’s also a screened porch overlooking the back grounds – the perfect place for some iced tea or a mint julep, don’t you think?

DSC_3567_68_69_70DSC_3606_7_8_9

And of course, the style makes way in some respects for the demands of the modern day homeowner – for instance, the kitchen is open to the breakfast and family areas, a must-have for many modern buyers. In addition, there’s a master suite on the main floor with a large master bath. The doors to the master bath and the lighting fixtures are all of grand southern design.

DSC_3438_39_40_41

510 Londonberry - KitchenDSC_3442_3_4_5

DSC_3490_1_2_3

DSC_3495_6_7_8DSC_3587_88_89_90

As a new generation of homebuyers grows into their “dream” homes, the grandeur of the Antebellum style has a new appeal. It does come with a price tag – the home on Londonberry is currently listed for sale for $1,785,000.

DSC_3409_10_11_12

DSC_3405_6_7_8DSC_3355_6_7_8

DSC_3524_5_6_7DSC_3528_29_30_31

Notes on Negotiating

26 Thursday Apr 2012

Posted by in real estate

≈ Leave a comment

Tags

, , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

What does your Realtor do for you? Well, many things, but a lot of what we do is negotiate contracts – either on behalf of the buyer or of the seller in the purchase or sale of a home.  I have taught classes on negotiation skills.  Because I am also an attorney (a former litigator) I have a lot of experience negotiating deals.

But recently I took a class from a professional mediator about negotiating.  Jennifer Keaton owns One Mediation, a mediation firm based here inAtlanta, and she made some great points about negotiation that are well taken, a great reminder, and applicable to any type of negotiations, including real estate.

First, every contact with the other side conveys information – so pay attention to every contact.  Most importantly, you do not have to mean or rude to “win”.  After all, haven’t you heard that you get more flies with honey than with vinegar?  Particularly in real estate, often a more emotional negotiation, this is important.  Being professional and polite does not mean you cannot be tough and represent your client well.  In fact, make sure your agent is one who is respected and liked by other agents.  Agents want to work with other agents who “play fair”, and that will serve you well when coming to agreement.  Also, say you do not come to agreement on a given negotiation.  Timing matters – a seller may get more motivated, a buyer may find a greater source of funds – in other words, the deal may work, just not right now.  If you have kept a congenial relationship, the other side may just come back, offering more.

Another important point is that knowledge is power.  With information, your arguments actually hold weight – without the hard facts, you have no ground to stand on.  When an agent is representing a buyer, that agent should marshall the LOWEST comparables and be able to discuss them with intelligence to convince the seller, hopefully, to accept less than they would otherwise.  Similarly, an agent representing the seller shouldmarshallthe HIGHEST comparables available to help convince the buyer that they are getting a great deal (which every buyer wants and expects).

Also: be creative.  Every negotiation is not all about money.  What else can your client offer that is of value to the other side?  Perhaps a seller will take less for the home if you close quickly.  Or if they need more time, if you will close later.  Your agent needs to ask questions and pay attention to the nuances of the other side’s needs and wants; that can certainly help ease the parties to agreement.

Finally, stick to your plan and stay the course.  Do not walk away without offering your “walk away” offer.  But if you give a “take it or leave it walk away” offer, make sure that is exactly what it is.  If it is not, you lose credibility.

In this market, great negotiation skills mean more than ever.  Make sure your agent has them!

A REALTOR BUYS A HOUSE

12 Thursday Jan 2012

Posted by in real estate

≈ Leave a comment

Tags

, , , , , , , , , , , , , , , , , ,

I have been a real estate agent for almost a decade.  But until recent, I lived in the home I owned I purchased PRIOR to becoming an agent, back when the process was more mysterious to me than it is now.  In the past few years, it is no secret that home prices in Atlanta have tanked, crashed, bottomed out.  SO, I decided to take the advice I give my clients – buy a home NOW!  Interest rates are incredibly low, so are home prices – buying a home has never been more affordable and has never made more sense.

First I had to convince my husband that this was a good idea.  We love our home in a charming little neighborhood called ChanningValley, where the neighbors know one another, kids play in the quaint neighborhood park, and there are active garden and book clubs.  Our home is a ‘50s ranch that I renovated into a cute little cottage that is the perfect size for two people.  So why would we move?  Well, I told my husband, we can rent out our home in Channing Valley, make money every month from it – and use that money to leverage ourselves into a home that is even better for us.

Once I showed him what we could purchase in today’s market, and once we found an architect’s dream home – he was convinced.  And it has been the best process in the world for me.  I have a much clearer idea of EXACTLY what my clients go through in the home buying process.

First, there is the difficulty in deciding which neighborhood to live in.  I have a better idea of all the “neighborhoods” in Atlanta and their individual characteristics than my clients do, of course – unless you are a Realtor, you do not intimately know a large number of neighborhoods.  Part of my job is to help a client decide which neighborhood is best for them.  My husband and I knew this much: that we did not want to move more than five miles from his work.  (He works right across from the High Museum of Art).  Since as a Realtor my work is all over the metro area (as far North as Forsyth County, as far South as Peachtree City, as far East as Stone Mountain, and as far West as Douglasville), location was not as key to me.  My office is my car and it goes everywhere.

But even with that focus on my husband’s place of business, it was much more difficult to decide on a neighborhood than I imagined – there are so many that we love (Virginia Highland, Morningside, Ansley Park, Garden Hills… the list goes on, but all closer in).  And the number of available properties is staggering.  While with clients, I can generally know in very short order which home would be perfect for them by listening to their needs, wants, likes, dislikes, when it is a personal decision it is a lot more difficult.

This definitely helped me become more aware of my value in guiding clients in choosing a neighborhood.  A third party unbiased view is very helpful.  Ultimately, of course, it can be and must be the client’s choice, but a good Realtor familiar with the neighborhoods can be an invaluable asset.

What I learned from my own experience with this also, however, is that the “right” home might not be in your favorite neighborhood.  The home my husband and I ended up buying is farther out than we thought we’d be willing to move, and not in the “historical” intown neighborhoods that we so love.  We initially thought we had to live inAnsleyPark.  But when we got down to considering practicalities and our budget, a larger home a little farther out on a larger lot made a lot more sense for our lifestyle.

So, keep your mind open!  But also keep in mind that you cannot look “everywhere”.  It’s very important to be limited in geographic scope.  Consider traffic patterns – if you work downtown, you probably don’t want to spend an hour and a half every day in traffic.  Look for something closer in.  But if your Realtor suggests a neighborhood you did not think of, consider it!  If the home you love is in a neighborhood you were not considering, consider it!  It may be the perfect neighborhood for you.

Seller Financing in a Buyer’s Market

17 Wednesday Aug 2011

Posted by in real estate

≈ Leave a comment

Tags

, , , , , ,

It’s a buyer’s market in real estate, but the poor buyer may find it VERY difficult to get a loan. Banks are simply not lending the way that they used to. A savvy seller with financial wherewithal can turn the second fact into an advantage in this market by offering seller financing. The potential benefits for the seller is that they can often negotiate an interest rate that’s more favorable than it would be from other investments. They might also command a higher selling price because they are offering the added benefit of financing, since the buyer who chooses seller financing is presumably unable to qualify for a conventional mortgage loan. Seller financing may be the ONLY way that type of buyer can purchase a home. There could also be tax benefit if the transaction is structured as an installment sale, which allows the seller to spread out recognition of capital gain.

Of course, the big downside for the seller is the possibility that the buyer will default. After all, by definition the buyer is somewhat of a risk – for whatever reason, presumably subpar credit, a traditional mortgage lender was unwilling to lend to him or her; that is why the seller is financing the transaction in the first place.

Here are ways to help minimize the risk for the seller: always thoroughly investigate the buyer (this should go without saying). Get a credit report, but also a criminal background check. Make sure that the buyer is not presenting you with false identification (identity theft). Make sure that you get personal, professional, and credit references – and talk personally with them all.

Secure a large nonrefundable down payment, as much as you can negotiate. The down payment can go towards the buyer’s purchase at payoff, but should remain the property of the seller should the buyer default. The larger the down payment, the less the risk for the seller.

Structure the transaction carefully, providing creative enforcement remedies. Often in such transactions, foreclosure is the seller’s only option should the buyer default. Draft intermediate remedies to the extent possible – remedies for late payments, for instance, might have a strict penalty to discourage tardiness.

Seller financing is not for every seller – but those who can offer this additional benefit may find that the potential benefits outweigh the risks.

A House Divided – Selling Your Home While Getting a Divorce

10 Wednesday Aug 2011

Posted by in real estate

≈ 1 Comment

Tags

, , , , , , ,

It’s no secret that this real estate market is very difficult for sellers.   Home prices are lower than they’ve been since 1990, and prices are still falling.  Therefore, many homeowners are “holding on” – deciding not to sell in this strong buyer’s market.  Those who are selling generally fall into one of two categories: (1) those who have to sell (sellers who can no longer pay the mortgage or they are relocating a new city) or (2) those who want to move “up” and figure they’ll make up what they lose in selling their current home by getting a great deal on the move-up home.

And then there are divorcing couples.  Multiply the stress of divorce with the current economy and tough house-selling environment, and it adds up to a very difficult time.  Sometimes divorcing couples fall into category (1) – but oftentimes they don’t have to sell, but they want to sell in order to move on with their lives.  The house is often one of the largest, if not the largest, marital asset.  If one party decides to buy the other out, the party who is being bought out is getting short shrift – the current appraised value is certain to be low compared to what the home was worth before the 2008 housing crash – and also low compared to what the home WILL be worth when the housing market recovers.

In a relocation situation, Realtors often recommend that a seller consider renting out the home in lieu of selling, at least until the market improves.  Divorcing couples generally do not wish to explore that option, and of course it is often not in the divorcing couples’ best interest for the parties to continue to have to deal with one another in finding a tenant, maintaining the home, etc.    The divorcing party’s desire usually is to make a clean break and start a new life.  So, for divorcing couples who decide that they must sell together in order to fairly divide the marital housing asset, here are some thoughts and guidelines to make the process easier:

IF POSSIBLE, BOTH PARTIES SHOULD VACATE THE HOUSE.  Key to selling a home is making it as accessible as possible for agents and their buyers.  If your home cannot be shown, it won’t be sold.  If one or both parties are living there, it’s more difficult to show and since the two divorcing parties are often not speaking with one another, it makes it even harder to arrange showings.  It only makes sense that it is not a good idea for both parties to live in the house while it is being marketed and sold.  There is already enough stress in the relationship.

BEWARE THE “DIVORCE HOUSE” LOOK.  If only one member of the couple is living in the house, the home tends to look barren and sad with half the furniture gone. Agents can tell when it’s a divorce house, and buyers can too.  Since purchasing a home is often an emotional decision, a half-empty house is a big turnoff, even though much of the prejudice may be subliminal.  Buyers may not know WHY, they only know that the house feels sad, and they won’t want to buy it.  You are much better off selling a vacant house (totally vacant, cleaned, fresh paint) or one that has been staged nicely with furniture.   Another problem with one party remaining in the home is that it often causes disagreement between the divorcing parties as to whether the seller remaining in the home is “thwarting” the sale in any way.

IF ONE PARTY MUST STAY IN THE HOUSE, stage it.  It does not have to be “full” but it should look as if there has been time and effort put into making the house presentable for buyers.  In other words, no folding chairs and bridge tables in the dining room, and no blow up mattress serving as the bed.

CHOOSE A REAL ESTATE AGENT TOGETHER.  Both parties must trust and feel comfortable with the agent who is chosen.   Neither party should feel that the agent favors one seller over the other, communicates better with one seller over the other, or is otherwise prejudiced against one of the parties.  That said, we often represent couples when an agent on our team has been friends with one or both of them and it seems to work out fine as long as there is good communication between all three – the two sellers and the agent.  It often helps to have an agent who knows the parties, is empathetic, and fully understands the situation.  If there is any conflict or uneasy feelings during the course of the representation, be sure the let the agent know your feelings about this and give them a chance to rectify or adjust. 

COME UP WITH A PLAN OF COMMUNICATION.  We will often find that divorcing couples are not communicating well with each other.  This is not surprising, of course.  In that instance, having a plan whereby the agent communicates with both parties at once through email is often the key.  Otherwise, the agent has to choose “who to call first” and that can cause problems, UNLESS both sellers agree that the agent’s primary contact is with one particular seller.  If email is to be the primary source of communication, be sure that both sellers have ready, easy access to email and check it regularly.  Remember that DELAY – in responding to a request for a showing, or to an offer – can be deadly to a sale.  Buyers will move on quickly in this era of many, many homes on the market.

PRICE RIGHT FROM THE BEGINNING.  Divorce always takes an emotional toll, regardless of the circumstance, so you want to limit the damage as much as possible.  Better to get the house sold that to have it sit on the market forever while the parties wait – and wait – and wait – to fully move on with their lives.  Time and time again we find that the longer a house stays on the market, the less the seller ultimately gets for it, so this would seem to be a no-brainer.  Price right from the beginning!  In this strong buyer’s market, that is likely to be less than you thought or hoped you would get for it, but mitigate the damage by pricing well from the start.  Believe me, ultimately it’s better – and more lucrative – that way for all parties.

Our team has helped many divorcing couples through the process of selling a home, and we’re happy to help you as well.  Please do not hesitate to contact us at mwalser@kw.com or 404-272-3527.

Aside

What is “Midcentury Modern”?

03 Wednesday Aug 2011

Posted by in real estate

≈ 1 Comment

Tags

, , , , ,

A popular housing description these days is the term “midcentury modern” – but what does that mean?  Basically, a midcentury modern home is a 1950s or 60s ranch that has been “modernized” into a more contemporary home in some way.  Usually at a minimum the term implies that the home has been opened up-that walls have removed so that the floor plan is more “open”. 

On the exterior, the sleek horizontal lines of these homes are reminiscent of the work of Frank Lloyd Wright. Think of his masterpiece Fallingwater-the eye is drawn side to side rather than up.  It is a style more of the earth than of the sky.  Specific external elements can emphasize this.  In this Atlanta midcentury modern at 1931 Dellwood Drive in Collier Hills, slender horizontal wood slats offer privacy for the patio they hide but also serve as a design element.

During the time period when ranches were built, gravel beds were also popular.  At Dellwood, the owner added this easy maintenance landscaping bed at the home’s entrance to add to the vintage feel. One distinguishing feature found in some, not all, midcentury modern homes is the carport attached to the front of the home-side entry, for a more uniform “face” towards the street.

Midcentury moderns are almost always brick-the predominant building material for ranch houses in the South at that time.  Painting the brick can further the modern feel-or, if combined with other classic elements such as columns, result in a mid century classic home.

On the interior, typically ceilings are low, typical of the period, but any popcorn texturing is removed to further advance the “sleek” and modern feel.  Here at the Dellwood property the homeowner chooses a monochromatic color scheme with “pops” of color.  Modern implies minimalistic, so the basic colors are neutral, but modern style is also “fun” – popular color accents are orange-red, green, and bright blue.

The kitchen is often modernized also- for a low budget redo, painting the cabinets a glossy white and replacing the hardware with more modern pulls and replacing linoleum with silestone, granite or corian will do.  While when built, these kitchens were typically contained, in the midcentury modern style at least one wall is opened up to the living area.

Midcentury moderns are one story dwellings.  The ranch style was designed to be the perfect melding of easy living with inexpensive construction in an era when land was cheaper than it is today.  Today, a large part of the cost of a home is the land on which it sits.  (The simplified builder’s equation is that the lot should be one third of the final selling price for the home-such that a builder might expect to pay $500,000 for the lot on which she builds a $1.5 million dollar home).  So most new homes today are at least two stories, taking full advantage of the size of the lot. 

Ranch homes were built for the post-war homebuyers eager to nest.  In 1945 millions of American soldiers returned from the war to find the biggest housing shortage theUShas known.  Ranch homes were inexpensive to build and served the needs of these new homebuyers well.

Tastes then were undoubtedly different than they are for us today-beautiful hardwood floors were covered with carpet.  It’s not unusual to find ranch homes where that is still the case, but as ranches are virtually all now in the hands of a new generation of buyers, carpet covering hardwoods is the exception rather than the rule, and these younger buyers have adapted the style to fit their tastes.

Midcentury homes-some modern, some classic, some retro- are ubiquitous in many parts ofAtlanta.  In some neighborhoods, likeAshfordPark, many of them have been torn down to make way for newer, larger homes.  In Buckhead, a fully renovated midcentury modern can go for more than $500,000. 

This one is onDellwood Drivein Collier Hills.  The street is somewhat of an anamoly-most of Collier Hills consists of older 1920-1930s cottages, but this street was built in the 1950s.  This home was originally built as a triplex-the upstairs was two units that have now been opened up into one large space.  There’s still a separate rentable apartment downstairs.

As with any housing descriptive term, there’s no way to define definitively what “midcentury modern” means, as it means different things to different people.  But the homes that have become midcentury modern show that a classic style such as the ranch, with a few adaptations, can still meet the needs of a new generation of homebuyers.