When the W Hotel & Residences at Allen Plaza opens this Christmas, it’s sure to be one of the new hot spots to see and be seen in Atlanta. The building is really looking terrific now! The W Hotel will be a striking 28-story tower with 237 hotel rooms separated by a Bliss Spa and topped with 76 condominiums. It will have 10,000 square feet of meeting space that adjoins to 55 Allen Plaza

You can clearly see the 14th floor infinity edge pool (called Wet) with an amazing view of downtown and the helicopter pad on the top of the building. This W is built from the ground up. It’s not going to be like the W Midtown, which was an older hotel refurbished into the W brand. Scroll down for some renderings of the residences and amenities. Acclaimed architects Pickard-Chilton designed this hotel. It is the first W Hotel to be built in Atlanta.

Highlights/Upgrades available for residences:

• Living areas withe 10 foot ceilings
• Ultra-stylish European-design cabinetry with wood and lacquer finishes
• State of the art Gaggenau kitchen appliances
• 14 foot wide balconies with unsurpassed views
• Dornbracht, Toto and Kohler plumbing fixtures
• Technology Upgrades Availabe: Automated draperies, Lutron wireless lighting systems, custom Bang & Olufsen audio/visual systems, Built-in Gaggenau coffee maker
• Choice of finish packages including: wood flooring in living areas, stone flooring in baths, full height shower enclosures, marble granite or stainless steel kitchen countertops
• Interiors designed by acclaimed BurdiFilek

Wet – 14th floor pool deck

Living Room Lounge

Rendering of a residence living room 

Rendering of a residence kitchen

Rendering of an ultra-chic residence bedroom.

By Amanda Gengler, Money Magazine
Last Updated: May 12, 2008: 1:06 PM EDT
(Money Magazine)

There’s no guarantee that prices have hit bottom yet – but that doesn’t mean that you can’t get a great deal now. To win, you’ve got to learn a new playbook.

And there’s no telling how long the housing crisis will drag on. Here’s what you need to know before you start shopping in a rocky market.

Face it: The house you buy today will more than likely be worth less next year. That could get you thinking about trying to time the bottom. Resist. It’s harder to do than you think, and this is the best buyers have had it in two decades, with inventories up and mortgage rates low.

Pace yourself, find the perfect place and drive a hard bargain: Ignore the seller’s asking price and bid 10% below what comparable homes are selling for. If the seller balks, move on. Remember that if you’re trading up, your home could sit. So sell before you buy.

Homes are plentiful and will remain so, but financing will be getting more expensive. True, the Federal Reserve has slashed interest rates, but fixed mortgages don’t directly follow the Fed. They reflect the bond market’s expectations about inflation, which remains a concern. The 30-year, now at 6.1%, will likely reach mid-6% by December and 7% in 2009, says Celia Chen of Moody’s Economy.com.

That means there could be a penalty for waiting to buy even if prices fall more. Today a $250,000 loan would set you back $1,500 a month. At 7%, a $1,500 payment gets you only a $225,000 mortgage. As for variable-rate loans, the spread between conforming ARMs and fixed loans is too narrow to do you much good.

Mortgages in amounts greater than $417,000 – the limit for buying by federally sponsored mortgage agencies – usually run a fifth of a percentage point above conventional products. But investors are shunning jumbos, which now average 7.2% and are unlikely to drop much this year, according to HSH Associates.

Certain jumbo borrowers could get relief, however. A new law allows Freddie Mac and Fannie Mae to buy loans as large as $729,750 in 71 high-priced areas. So far “jumbo conforming” loans average 6.6%. The program has gotten off to a slow start; you’ll need to shop around. And unless Congress acts, this bargain will disappear at year-end.

By now you’ve heard from somebody who knows somebody who got a great deal on a foreclosed property. But when you buy a house, you’re also buying into a neighborhood. And foreclosures tend to be bunched in areas where residents and speculators alike took out exotic mortgages to get into homes they subsequently found they couldn’t afford. That’s not a recipe for stability. Prices and quality of life could both decline further.

Similarly, avoid developments that popped up in the past few years. They too likely have a lot of owners with risky loans and little equity, says Mike Larson of Weiss Research. Instead, go for areas with highly rated schools. They generally fare better during downturns, and that pattern is holding today, according to a recent study by real estate site Trulia.com.

The real estate game has a built-in conflict of interest, since the listing agent and your agent both get paid by the seller. And these days more sellers are offering extra cash to buyer’s agents.

So make sure you’re not being steered to a house that’s better for your agent than for you. Agree up front on his commission (typically 3%) and that any extra payments will go to you, says Jon Boyd, past president of a buyer’s agent trade group.

By Amanda Gengler, Money Magazine
Last Updated: May 12, 2008: 12:39 PM EDT
(Money Magazine)

Whether you’re buying or selling, the real estate game has changed. To win, you’ve got to learn a new playbook.

Selling a home is a lot trickier than it used to be – here’s how to be smart about pricing, presentation and incentives.

Rule 1: Get real about price
Too many sellers set their price based on yesterday’s market. Big mistake. “The first buyers in tend to pay the best price, so you need to price it right at the start,” says Pamela Liebman, CEO of the Corcoran Group brokerage.

Have three area brokers prepare what’s called a comparable market analysis. It will list asking and selling prices of similar homes, as well as amenities and sizes. If there’s little inventory in your price range, list for what others are asking. If a lot of homes like yours are on the market, then look to generate buzz, says Liebman.

Set an asking price 10% below what homes like yours have been selling for. That raises the odds of your getting multiple offers. If your market is really frozen and you need to drop the price, make one large cut. No baby steps.

Rule 2: Vet your agent – especially if it’s you
Selling on your own in an unprecedented slowdown means you’ll have to work awfully hard marketing your home. If you aren’t prepared for that, hire a broker. Avoid newbies. You want an agent who has been through good times and bad and who has a track record that you can verify with clients.

Rule 3: Pimp your house – hire a home stager
To sell today, you’ve got to glam up your home. A stager will help get rid of clutter (especially clutter you don’t see); rearrange furniture to create attractive focal points; repurpose underused rooms, turning, say, that makeshift bedroom in the basement into a rec room; and pick paint and curtains that make rooms appear spacious. A consultation may run $200. Completing the plan could cost $1,000 or more. It’s worth it.

Rule 4: Cash will make your home look even better
Given the number of listings out there, you want to throw in a little something extra to make your house catch the eye of buyers and their agents. Rather than hand out a cruise or a car – skeptics might wonder why you’re so desperate -offer something that will make your home more affordable, such as paying part of the buyer’s closing costs.

In the multiple-listing service description of your house that agents can see, let them know you’re offering a $1,000 bounty or a 4% commission to the one who brings in the purchaser. It will mean more knocks on your door.

Rule 5: Underwater? Learn to swim
If you’re a recent buyer, your mortgage may well top what your home would go for today. About a third of those who bought last year or in 2006 now have negative equity, according to Zillow.com. If a job or family issue compels you to move, your options aren’t great, but you have a few.

First, you may be able to persuade your new employer to make you whole on the loan. Second, if the rental market in your area is strong (as is the case in many spots that were healthy but not overly bubbly during the boom), you can become a landlord and wait out the slump. Third, of course, is to sell for as much as you can (see Rule No. 1) and raid your savings for the difference.

Short sales, in which the bank agrees to take less than it’s owed and release you from your debt, get a lot of media attention. That doesn’t mean they’re easy to come by. A bank usually will consider one only if you’re at risk for foreclosure. Even then it may say, “No, thanks.”

Here are some photos from my recent hard-hat tour of Luxe in Midtown Atlanta. This is going to be a great property to live at. You will be within walking distance to the newest Midtown restaurants and shops (at the nearby 1010 Midtown) and also just a few short steps from Piedmont Park.

Luxe has some great amenities also - • Intimate Swimming Pool Setting Includes: Wi-Fi Access, Private Cabanas, Outdoor Grilling Area/Summer Kitchen, Chaise Lounge Seating, Concierge Services 24 hours a day, 7 days a week ,  Club Room with Fireplace and Catering Kitchen, State-of-the-Art Fitness Center, Complimentary Guest Suite,  His & Hers Saunas, Controlled Access Security Throughout Building & Parking Deck, Pet Walk Areas & Ground Floor Retail)

Below, inside the club area looking out to the pool deck.

A corner unit with floor to ceiling glass.

Same unit, looking into the kitchen.

Getting higher in the building, looking toward Midtown.

Mid-height of the building, view to Piedmont Park.

Same height, looking toward the Buckhead skyline.

Piedmont Park from the Penthouse, spectacular.

Step inside and you’ll understand why in-town living can be so good. Terminus is going to be like living in a five star hotel, giving you everything you need right at your doorstep. There are some really great places to eat right below your residence (Lola, MF Buckhead, Aquaknox, Bricktops). All you have to do is make your reservation on OpenTable and take the elevator down to main level. Simple.  I previously posted some pictures of the pool deck under construction, so this should give you an idea of what the finished product will look like. 

Club Level Amenities: spacious clubroom with bar, catering kitchen and indoor/outdoor fireplace, two separate grilling stations and outdoor dining areas, state-of-the-art fitness center featuring yoga stretching area, massage treatment room, lushly landscaped pool area with amazing city views, two fully furnished private guest suites with outdoor terraces, media/game room, dog walk park, saltwater pool and spa

Building Amenities: VIP room service from their 4 star partners, secured resident parking, visitor parking and residential storage, wi-fi access in the lobby and club level

Residential Staffing: round the clock doorman, daytime concierge service, dedicated daytime club level personnel

Inside your residence: Kitchen designs inspired by Elizabeth Koets, Wolf gas range with convection oven, SubZero refrigerator, Sleek, European cabinets, Under-counter lighting, 10 foot ceilings, Private covered balconies, Solid core interior doors, Energy efficient windows, Walk-in closets, Polished marble counter tops in the bathroom, Elegant Toto bathroom fixtures, Oversized bath tubs, Imported tile in bathrooms

Terminus Google Map Location

Terminus Google Map

*This project is currently on hold until 2009. 

As The Mansion opens and Sovereign is getting it’s final touches, some projects have been put on hold. One of my favorite projects has yet to be started. If you have heard anything about The Related Group, you know they only deliver high-end products to the clients. Living in Miami, I have seen first hand the quality of these projects and I can safely say with confidence I’m looking forward to this project. I’m looking forward to upgraded interior condo finishes, modern, clean and contemporary lines. Just google The Related Group and take a look at their amazing portfolio. Click Here for More Photos & the Rest of the Feature

Here are a few photo’s I took of Sovereign while under construction. The building has unsurpassed views.