REAL ESTATE

REAL ESTATE Realtor Weighs in on Young Families, New Homes

Dark Rush Photography // Architect Brant Goodman was commended by the Sauls for his attention to detail in carrying out their vision.

Goodman Design // The Sauls wanted a playroom with an abundance of windows looking out to the rear yard.

By Marcia Caller Jaffe

Marshall Saul, a native Atlantan who went to Greenfield Hebrew Academy and Riverwood High School, now works as a realtor with Atlanta-based boutique brokerage Beacham & Company. He is constantly evaluating property and opportunities for himself and his clients with a discerning pulse on what local markets have to offer. Wife Terri, a project manager with an architectural signage company, was born in Johannesburg, South Africa. They now reside in Chamblee with their 2-year-old daughter Olivia and wheaten terrier poodle, Jozy. “We’ve experienced a depressed amount of inventory over these last several years that still continues today,” Marshall Saul said. “However, Atlanta remains full of great, transitional neighborhoods that offer young families the opportunity to purchase a home suited for tear-down, hire an architect and work with a custom builder to develop their dream home. Buyers are essentially concluding if they can’t find what they are looking for in a resale home, why not just create it themselves?” He does go on to caution, “Of course, like most things, easier said than done.”

Saul made the bold decision at 27 to purchase a vacant lot in Brookhaven for the purpose of building a custom home for him and Terri. He quickly became immersed in all aspects of the design-build process and although challenging, ultimately decided this was a professional niche he wished to carve out. Saul has since aligned with several builder-developers on speculative and custom homes. His current main area of focus is the Chamblee-Brookhaven market.

“Sexton Woods, Ashford Park, Drew Valley and Nancy Creek Heights, among other well-established Chamblee-Brookhaven neighborhoods, all make for attractive locations for young families looking for new construction,” he said. “There are multiple parks, trails, good schools and these areas are centrally located close to nearby retail and dining. The Chamblee-Brookhaven corridor has shown a significant amount of commercial development over the last several years and residential new construction has been quick to follow.”

In 2017, Saul struck out to build again and approached architect Brant Goodman (Goodman Design) to consult and design a home to best use his new lot’s site conditions. “Brant is an extremely knowledgeable architect with exceptional attention to detail,” Saul said. “His professionalism and confidence gave us a great sense of ease in the early planning stages and continued throughout the project.”

Goodman recalled, “There was initial conversation about creating a welcoming sense of place and allowing the house to be a reflection of the way the Sauls live. The keeping room off the kitchen allows for a great place for kids while parents are nearby; and the open concept along with lots of windows to the rear yard provide good visibility. We strove to establish good indoor/outdoor connections to allow for an abundance of natural light. It is always important for architecture and nature to work in harmony.” Dark Rush Photography // Terri and

Marshall Saul enjoy their front porch swing. They wanted a custom design with a modern farmhouse look with added elements of coastal inspiration and clean lines.

Goodman Design // The main level open floor plan scopes from the kitchen into the dining area and playroom using a neutral color palette with light and airy flooring, materials and fabrics.

Saul shared, “We designed the home in the midst of the Chip and Joanna HGTV craze, so we couldn’t help but be inspired by the modern farmhouse look with some added elements of coastal inspiration. We went for clean lines and transitional details, utilizing a neutral color palette along with light and airy flooring, materials and fabrics.” Saul shared the importance of collaborating with an architect and designer who can help execute a clear-cut vision and maintain design fluidity throughout. “The overall goal was to ensure a seamless blend between the architectural details and finishes with our own vibe of furniture, art and interior design.”

Saul believes this goal to be similar to that of many young families when developing their own plans for new construction. “Typically, at least four to five bedrooms total and additional flex bedroom-living space on the main level are preferred. This has everything to do with how we now naturally interact and entertain. An open space that can easily transition from kitchen to family room is essentially a must for the ideal new construction home. Home offices and covered outdoor patios or porches are becoming standard to show up on most new floorplans as well,” he said.

“Some people truly enjoy the process of designing and building their home and appreciate living in a home they have customized for themselves. However, there’s no doubt building a custom home requires a ton of work with hundreds of steps and decisions to be made along the way. That being said, if you educate yourself, assemble the right team (more specifically the right realtor) and remain realistic with your expectations, building a custom home can be an extremely rewarding experience.”ì

This luxury condo project in Sandy Springs will include 30 units with six units per floor, starting in the $900s.

By Marcia Caller Jaffe

Two retired developers decided to fill a multi-family residential market void in popular downtown Sandy Springs. They are Gary Unell, a retired residential developer and builder of high-end homes in the Sandy Springs area for 40 years, and Eddie Goldberg, a retired former banker and developer of communities in Sandy Springs and Charleston, S.C. They have teamed up for

Developers Gary Unell and Eddie Goldberg study plans for their new condo project just outside I-285 in Sandy Springs.

a special project that will set a new standard in downtown Sandy Springs.

Goldberg noted, “I have been consulting and brainstorming with Gary for about 10 years to develop a luxury condo in downtown Sandy Springs. Finally, this past fall, the idea crystallized and property near the intersection of Cliftwood Drive and Sandy Springs Circle (just south of The Springs Cinema & Taphouse) was put under contract, and we sprang into action.”

Unell and Goldberg hired local architect Brooks Hall, who has a small firm specializing in and working with developers in the Atlanta area. Previously Hall was with Smallwood, Reynolds, a large firm, where he was chief designer for Asian projects.

Unell said, “We wanted the building to be a steel and concrete structure with a brick exterior versus wood framing, which allows structurally vibration and lower quality sound control.” The building is envisioned for residents who want an urban feel, but don’t want to move to Buckhead, Midtown or downtown Atlanta. “The sizes of units will vary from about 2,200 square feet up to 3,400 square feet. In addition, each unit will include a covered porch with an optional fireplace, optional grill and vent hood. The porches will average about 275 square feet with expansive glass doors between the porch and the interior area.”

Units this size are new for downtown Sandy Springs and are rare in the condo market without combining smaller units. Unell and Goldberg said they intended to satisfy the needs of people like themselves who have grown tired of maintaining large houses and are ready to simplify their lives. The building’s floor plans will rival those of ultra-luxury units located in other metro Atlanta neighborhoods, but the developers believe they can complete their project at prices below those in Buckhead, with all the benefits of living in Sandy Springs. They point out the rapidly increasing number of independent shops and boutiques, highly-rated restaurants within walking distance of their location, and a range of grocery shopping options including Whole Foods, a movie theater, Kroger, Marshalls, even Dollar Tree within a block, and the Sandy Springs Farmer’s Market, and the entire City Springs municipal and arts complex nearby. The site also provides easy access to I-285, Ga. 400, area malls, Northside, Emory Saint Joseph’s, and Children’s Healthcare of Atlanta hospitals, the Sandy Springs library, at least three synagogues, and office space in Sandy Springs and the Perimeter area.

The project, as of this writing, is in the zoning process. Due to the consequences of coronavirus social distancing, zoning meetings have been postponed. Goldberg said, “Hopefully very soon we will have the full support of the town of Sandy Springs. We have already received over 10 reservations. Appropriate and sophisticated names are under consideration.” Soon, the hard work will begin for Goldberg and Unell, who hope to introduce the building to the public by mid-2021, with availability for occupancy in the spring of 2022.

Features are to include concierge services, an exercise facility, a simulated golf room, a plunge pool and a community room, covered owner and guest parking. Units will start in the $900s. Plans call for a total of 30 units with six units on each of the five floors of flats. Two additional floors would be for amenities and parking. Potentially the penthouse level will have an elevated ceiling height. Public space will be included on the concierge level. There will be ample room for bridge, mahjong, and trivia games, private family gatherings and socializing.

Feeling confident that they can build the right building at the right time, both developers are currently planning to be residents of their new project. Just imagine walking to the Atlanta Jewish Film Festival!ì

Rendering of the new Watkins 55+ apartment development, Annabelle on Main, on Peachtree Industrial Boulevard in Duluth.

Jay Levy parlayed a career in accounting and finance into real estate management.

Watkins Real Estate Group’s Sixes Ridge Apartments with 340 units at I-575 and Holly Springs Parkway.

By Marcia Caller Jaffe

Miami Beach native Jay Levy made his way to Atlanta as a young man, celebrating his bar mitzvah at Congregation Shearith Israel and settling in Clarkston with his family. He found his career fit in real estate after a bachelor’s degree in business administration from the University of Georgia and a master’s degree in taxation from Georgia State University, headed for the world of balance sheets and finance. Levy is currently the president of Wilwat Properties, Inc., the real estate subsidiary of Watkins Associated Industries, having joined the company in 2014. He oversees all the strategic planning and day-to-day operations for Watkins Real Estate Group.

“I would not label myself a ‘superstar’ versus a steady plodder," he said. Levy’s experience in all facets of commercial real estate investment, management and development spans 30 years. He began his professional career in the tax group of the Atlanta office of Arthur Andersen & Co. He then joined Ewing Southeast Realty, an Atlanta-based real estate management and brokerage firm, as chief financial officer.

In 1995, Levy joined IRT Property Company (NYSE: IRT), an Atlanta-based REIT (Real Estate Investment Trust). During his years with IRT, Levy served in various roles such as chief accounting officer and treasurer, ultimately becoming the CFO. In February 2003, IRT was acquired by Miami-based Equity One (NYSE: EQY) REIT. Levy was an integral part of the merger, playing a lead role in the negotiations and subsequent integration of the two companies.

Following the merger, he served as the executive vice president, asset manager for Equity One's portfolio of retail shopping centers in the Southeast U.S. He directed all aspects of property management, leasing and development for Equity One in the region, consisting of 88 retail shopping centers.

Watkins is a real estate development and management firm focusing on commercial, retail and multi-family properties. On the multifamily side, their developments are garden style communities with 300-plus units.

“I have worked on the retail side of commercial real estate, mostly grocery anchored shopping centers. When on the accounting and finance side, I didn’t have much opportunity to interact with tenants and leasing. My time with Equity One allowed me to work with all facets of real estate.”

When it comes to how internet shopping has affected the mix, Levy noted that instead of large 40,000 square feet of local shop tenants “today we build 12 to 14,000 square feet and lease to service tenants such as hair salons, insurance agencies and restaurants with very few hard and soft good products.”

More on the shopping center side, “we have been very active developing Publix anchored centers in Orlando, Atlanta and Alabama. Just last month we opened a new Publix center in Buford. Two more are in development in Statesboro, Ga., and Lakeland, Fla.,” Levy said.

“One of the most exciting new projects is a 55+ active adult community in Duluth, where we just sold the adjoining land to grocer Lidl within walking distance.”

In terms of the effect of the coronavirus, Levy is somewhere between “stop” and “pause” while banks settle on new strategies. “Day-to-day it’s hands on. We employ 17 people operating over 680 apartment units. Four under development, six Publix shopping centers, as well as several singletenant projects under development. We are ‘full speed ahead.’”

When asked what advice he would proffer to young entrepreneurs, Levy said, “Much of real estate is about personal relationships. I never believed in burning bridges. Also, for ‘up and comers,’ I would advise to take time outside of work to follow up and study what one has seen during the day.” At a recent real estate convention, Levy was influenced and inspired (after reading the New York Times best-selling book “Delivering Happiness: A Path to Profit, Passion, and Purpose”) by Tony Hsieh, the CEO of Zappos, about his mission to make and keep customers happy.

Keeping numbers in the family, Levy is married to Debbie Levy, who works in the accounting department for Jewish Family & Career Services. “She is a great organizer, connector and accountant.”

Levy also enjoys trips to Bagelicious in East Cobb, dashing around in his 1971 British racing green MGB.ì

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By Debbie Sonenshine

Residential real estate has been deemed an essential business by federal, state and local authorities. The reasoning is that housing is not only vital to our economy, but a basic survival need along with food and healthcare. That said, real estate professionals are taking extra steps to protect the lives of their clients, the public and themselves.

Many of our activities are now being conducted virtually through professional photography, recorded home tours and live video conferencing. Paperwork is being completed using electronic signatures and some closings are happening via video conferencing. When a closing requires the physical presence of the parties, only those who are required are allowed to attend and extra precautions are being taken to ensure proper social distancing and hygiene. The adjustments required during these difficult times will likely become the new normal moving forward.

This situation is very different than what happened to residential real estate in 2008- 09. While the market is being severely disrupted by the COVID-19 virus, we do not expect to see a decline in home values. Buyer demand remains high and home inventory is near historic lows. The two big unknowns are the impact of furloughs, layoffs and unemployment on buyer demand, and how long we will continue to experience 30- year mortgage interest rates below 4 percent.

A question that I am getting a lot recently is whether now is a good time to list a home. In most cases the answer is yes, primarily due to the high buyer demand. However, we are taking extra steps to ensure that everyone remains well. For occupied properties, we are requiring that the potential buyer has been preapproved if they are planning to obtain a mortgage or provide proof-of-funds if

they are paying cash, prior to scheduling a showing. Buyers are being asked a series of questions and asked to sign a form verifying that they are not currently experiencing virus symptoms or have been in recent contact with someone with the virus. Sellers are being asked to turn on all the lights, unlock doors, open draperies and blinds, and vacate the property prior to the showing. During the showing, the objective is to touch as little as possible and to use antibacterial wipes on anything that has been touched. Hand sanitizing before and after by everyone is essential.

Bottom line, while some activities such as open houses will be paused until the risk has passed, we are still listing and selling homes, albeit a little differently, during the pandemic.

Debbie Sonenshine is with Coldwell Banker residential brokerage and can be reached at Debbie@SonenshineTeam.com, www.SonenshineTeam.com.

Roller Coaster Ride

By Robin Blass

What a roller coaster ride this has been! It took off fast, and I wasn’t quite sure what was coming next or if it this ride would ever stop. By that I mean, all of the sudden I had four deals that were under contract and suddenly they had fallen apart. One was an all-cash deal, and the buyer lost his money in the stock market and was not comfortable closing; the second deal the buyer lost his job and no longer qualified for the loan; the third contract, the buyer simply got cold feet about the economy and terminated; and the fourth, the buyer was furloughed and was no longer confident about purchasing at this time.

That was the first seven to 10 days, then I came to the realization the real estate market is going to continue to operate! Buyers and sellers are still going to buy and sell. The difference is now we practice SAFE real estate. All my listings have masks, gloves, booties and sanitizing wipes. I’ve placed signs with clear in

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exhibiting symptoms of COVID-19, please do not enter this home.

During COVID-19, I am still seeing bidding wars on some listings, new listings are coming on the market, and properties are closing. Mortgage rates are at the lowest they have been in years. Appraisers are now allowed to complete appraisals without entering the property by taking pictures of the outside and doing drive-by appraisals. Lending institutes are allowing DocuSign signatures instead of actual signatures. Closing attorneys are practicing social distancing and closings are happening in the parking lots of offices and personal home garages.

Real estate is and will always be a people business, building relationships. My hope is that we when return to some kind of normalcy, we take the lessons we’ve learned and are able to help our clients in new and better ways! Please stay safe.

structions to wear all protective gear before entering and to not touch any light switches or door handles while touring the home. In the listing services, I’ve added remarks stating that if anyone is

Robin Blass is an agent with Coldwell Banker, a No. 1 agent Coldwell Banker Atlanta in 2018 and the Perimeter office 1992 to 2018, and a Top 10 of the Atlanta Realtors Association 2018. She can be reached at www.robinblass.com or robinblass@ blassprop.com.

By Eydie Koonin

The coronovirus is having a profound impact on everyone around the world. To conform with the Shelter in Place order, I am hunkering down with my husband, 84-year-old mother, pregnant daughter and son-in-law. I’m actually enjoying cooking three squares a day and doting over my family.

In the evenings we’re enjoying the same activities as most families now, solving jigsaw puzzles, playing cards, binge watching Netflix and online mahjong, which my mom has found to help her maintain a semblance of a social life.

Real estate sales, mortgage lending and closings are considered essential businesses in Georgia, so we are “open for business,” but the real estate industry is experiencing “business unusual.”

Starting in March when it became clear that this major crisis was hitting our homeland, I could tell immediately that everything I knew before was going

to change. To serve my clients during this pandemic, I’ve dedicated several hours a day on Zoom calls with brokers, agents, closing attorneys, insurance agents and mortgage lenders to educate myself on the most updated information and changes to their policies. While interest rates remain extremely low, lenders are now requiring higher credit scores to qualify for loans and larger down payments for jumbo loans.

When I go on a listing appointment, I ask the seller to prepare by having all the lights on and doors opened, while I’m wearing protective gear that enables me to walk around the house independently of the seller. After viewing the property, I leave my marketing materials and exit the house. Upon returning to my home, I hop on a FaceTime or Zoom call with my client so I can make my formal presentation.

It’s “business unusual” also when I’m showing one of my listings. Before entering the property, I put on my latex gloves and face mask, then I turn on all the lights and open the doors. In this COVID-19 era I greet the prospective buyers outside of the home and give them a verbal overview to the property. Normally, I would go in and tour them through the house. Today I brief them and let them wander through the home to respect the social distancing guidelines. I meet them back at the front door to highlight the features or answer any questions they might have.

No longer are the days of driving buyers in the car, walking with them through every room, stopping for lunch on a full day of showings and meeting together at my office to sign paperwork.

For my buyers, nothing is better than helping them find a house that becomes their home and for my sellers, helping them move on to the next chapter in their lives.

This is the new reality until we have the vaccine. Stay safe and stay healthy.

Eydie Koonin is a realtor with Atlanta Fine Homes Sotheby’s International Realty and lifetime member of the Multi-Million Dollar Sales Club, eydiekoonin@atlantafinehomes.com.

Spring Selling Season

By Melanie White

Every real estate agent looks forward to the spring selling season in Atlanta! Spring is when families really kick into high gear to sell and purchase homes before the next school year. The selling season often starts at the end of February or beginning of March, which is exactly when the coronavirus struck our city and our market. The fear we all felt as we watched the stock market take its biggest plunge since 1987 was astounding. Even though the interest rate was cut in an effort to curtail the hit, we saw many deals fall through in response.

That was in early March, and since then we have been seeing things pick up. Buyer activity is down but has not stopped! The interest rates are very desirable and there is less competition with other buyers. Sellers are a bit more reluctant now than buyers. New contracts written and new listings taken have declined about 45 percent. Some buyers are unsure of the market, and sellers are unsure of letting people tour their homes. However, we have not yet seen a decline in prices.

Agents are considered to be essen

tial; we help people find their homes to be able to “shelter in place.” We are conducting “business as usual,” just in a different way. I held an open house in early March and greeted everyone at the door with a pump of anti-bacterial soap and a spray bottle of alcohol and water to clean the bottom of their shoes before putting on shoe guards. There were quite a few lookers but since then the physical showings have been few and far between.

Our new normal is ramping up everything virtual: virtual tours, virtual showings and open houses. If there is a physical showing, I make sure the buyer is pre-qualified, a serious looker, and I actually ask if they are healthy.

Before the pandemic hit, people made plans to move, whether for a bigger home, smaller home, first home, or job-related moves. These people need to continue moving forward with their move. We have adopted plenty of special stipulations to adapt to the situation. Loans continue to be processed, although at an arm’s length and in a totally digital way. Closing attorneys are still able to get us to the closing table, but that too looks different, with electronic signatures and most recently the ability to notarize electronically. Like many changes in our lives, the way we shop for homes is changing as well.

The Atlanta spring market was already underway and I am hopeful that, come July or August, we will be right back in full swing with little decline in prices in the market. Stay positive and be well.

Melanie White is a certified residential specialist with Coldwell Banker Residential Brokerage and a life member of the Multi-Million Dollar Club, realtor. melaniewhite@gmail.com, melanie@ melsellsatl.com or melsellsatl.com.

By Jimmy Baron

This seismic shift in how we live our lives seems to change by the hour, yet time also seems to stand still. The stock market is like a Six Flags ride; thousands of businesses have either temporarily or permanently closed; and the number of unemployment claims breaks its own re- cord seemingly each week. As a real estate professional, I am asked daily how this has affected not only property values, but also the actual enterprise of conducting the business of showing and selling homes.

First, we don’t really know how COVID-19 has affected property values simply because there’s a lag in that data which typically doesn’t show up for months. Prior to mid-March we were enjoying a brisk and healthy spring in Atlanta, with home values holding strong in most sectors (with the exception of some of the higher-end cat- egories). Fannie Mae is predicting a 10 to 15 percent drop in home values this year, but those are na- tional projections and real estate is a very local thing. And fortunately, Atlanta tends to generally have stronger numbers than the national average, all things being equal. Real estate statistics, though, are directly tied to employment numbers, so as that story continues to be told we will see a clearer picture as it relates to home sales. BUT this is not like 2008 as some have suggested. In 2008, the real estate market was the actual cause of the economic collapse. It’s a bit different now and home sales are expected to recover strongly depending on how long this lasts, which is, of course, the question no- body can answer. Are there still buyers out there? Ab- solutely. Many industries have not been affected and those jobs remain secure. Likewise, this is traditionally the time of year people move who have been trans- ferred, and they are still in the process. Or perhaps it’s someone who sold their home prior to COVID and they still need to find a new property. Or maybe they need to get their kids in a new school district prior to fall (remember that thing called school?). One thing is for sure though, there are no “tire kickers” in the mix. If someone wants to see property in this environment, they are definitely se- rious. But it would be disingenuous to say the buyer pool is still strong. It has defi- nitely shrunk and has become more of a buyer’s market. Showings are down as well as homes being put under contract, especially in the luxury home category where jumbo loans have been dropped by many lenders and the terms have be- come often brutal. In addition, the actual process of showing homes is a new world. Sellers are being asked to leave all lights on and in- terior doors open to minimize the need for buy- ers to touch sur- faces. And like- wise, home tours involve masks, gloves, booties and disinfectant wipes. Many agents are provid- ing video tours as well, although it is not eliminating the need for buy- ers to eventually do a physical visit. Some sell- ers who are elderly or have underlying health issues have completely taken their homes off the market as they understand- ably don’t want strangers in their home, nor do they want to leave for showings. We are in uncharted waters in every corner of our lives, and real estate is no different. Each day brings new informa- tion and circumstances and all we can do is have patience, be smart, pray and make good decisions. Now more than ever, though, if you are seriously consid- ering selling or buying, speak with a real estate professional you trust. We are here to help you make wise decisions and our advice is free!

Jimmy Baron is a top 3 individual agent with Keller Williams First Atlanta, top 5 percent with Atlanta Board of Realtors, a member of Keller Williams Agent Leadership Council and Keller Williams Luxury International.