About the Old Fourth Ward, Midtown, Virginia Highlands, Inman/Candler Park, and Grant Park Real Estate Market 

Termites 

Georgia is a termite-friendly state. I have often heard termite inspectors say, “There are two types of homes in Georgia, those with termites and those that will get them.” Be sure to get your home inspected for termites. Most homes can be protected by a termite bond (warranty) on the property, which is typically renewed in 1-year intervals. The typical cost for an annual termite bond is ~$350. The age and size of the home will affect the price of the termite bond.  

Taxes 

Major Metropolitan Area Counties:
Fulton inside the city (1.75%)
Fulton unincorporated (1.5%)
DeKalb unincorporated (1.4%)
Gwinnett (1.25%)
Cobb (1.0%)
Clayton (1.25%)
Cherokee (1.25%)
Forsyth (1.25%)
In some areas county and city taxes apply. 

Empowerment Zones 

Some zip codes within the major metropolitan counties have a tax freeze and / or reduced taxes. The tax freezes / discounts are designed to encourage growth in a particular area.

List / Sales Price Ratios 

The list to sales price ratios vary greatly across the country. The Atlanta market is on average 96%. For example, for a property listed at $100,000 would on average sell for $96,000. Closing costs are also negotiable between buyer and seller and can be factored into this 96% ratio. For example, for a property listed at $100,000, a typical offer would be $98,000 and $2,000 in seller paid closing costs. The current Atlanta market is experiencing higher levels of inventory. The list to sales price ratio has shifted slightly but not as dramatically as other parts of the country.  

Days on Market 

The days on market for homes varies greatly across the country. In Atlanta homes are on the market an average of 120 days. There is a difference in days on market between single family homes and condos / townhomes. Single family homes typically sell quicker than condos / townhomes. 

Home Buying Process 

What is the typical time frame for buying a home? 

Buyer’s Booklet 

Click on any link below to open a printable .PDF report. 

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