Kitchens as Theater What You Can Buy for $1.1M Market Update Market News Impact of Tax Reform
THE BUCKHEAD OFFICE
F E B R U A R Y
2 0 1 8
TABLE OF CONTENTS Kitchens as Theater Tile Talk: 5 Most Popular Shapes and How to Use them What You Can Buy for $1.1M Market Update Market News Impact of Tax Reform Company Initiatives
LISTED BY: Travis Reed
KITCHENS A S
T H E A T E R
b y C h r i s t i e ’s I n t e r n a t i o n a l R e a l E s t a t e
LISTED BY: Kelly Boudreau
Anyone watching a master chef in action soon realizes that cooking is a dance and a kitchen is the stage. Counter space, considered prime real estate even more so than stoves or appliances, is expanding exponentially and also allowing a household’s multiple cooks to create in tandem. Precision, efficiency of movement, command of space defines a chef— which so many of us now aspire to be. When entertaining, guests want to watch their hosts in action. As a result, they tend to congregate in the kitchen, which then grows in stature with “spectator” seating and elegant design. Kitchens are further evolving into the hearth and hub of the family. A great kitchen is said to fuel a healthier lifestyle with more sit-down dinners, conversation opportunities and healthier dining choices than food on the fly. Elaborate indoor herb gardens continue to crop up, so to speak. More elaborate “farm-to-table” garden options in luxury households are taking root, as well. The 2017 season of Top Chef, the long-running foodie television show, recently wrapped up in Charleston, South Carolina. Helen Geer of local area Affiliate William Means Real Estate explains the importance of a kitchen in selling a home: “The kitchen has become a major entertaining space. Instead of a utilitarian area for someone other than the owner to prepare food, buyers today like to cook and take enormous pride in the meals they prepare themselves. Even if they don’t cook, people still like to entertain in the kitchen with hors d’oeuvres or small plates. It is more intimate and welcoming.”
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TILE TALKS P O P U L A R
S H A P E S
by Kate Reggev of Dwell
We bring you the long and short (and round) of the typical shapes that tiles come in. If you’ve stepped foot in a home renovation store, you’re probably familiar with the walls filled with tile samples of every size, color, and texture imaginable (and even some that you don’t think you could have ever imagined). Rather than feeling overwhelmed by all of the options, it helps to break the tile types down into some basic categories based on materiality, size, color, and shape. Even though there are countless tile manufacturers and many have created their own “standard” sizes and shapes— including some very unique ones—it is possible to give a general overview of what shapes you’re most likely to see. Here, we’ve collected five of these most common tile shapes, whether ceramic, glass, stone, or another material, to help you narrow down your choices.
SUBWAY T I L E
Ah, the classic subway tile. Originally en vogue in the early 20th century when they were used to line the walls of New York City subway stations, subway tiles have become a mainstay of the tile industry because of their simplicity, versatility, and elegant proportions. As a subset of rectangular tiles, which come in a range of dimensions, subway tiles most typically come in widths of 1”, 2”, 3” and 4”, with lengths of 4”, 6”, 8”, and 12”. Subway tiles are most frequently used as wall applications including kitchen and bathroom backsplashes, but they also function well when used on the floors. Different patterns can be created by stacking the tiles for consistent grout lines and a more contemporary look, alternating grout lines for a classic look, or herringbone patterns for an elevated appearance.
PHOTO BY: Ryann Ford
MOSAIC T I L E
Mosaic tile has its roots in the ancient world and continues to be used in a wide variety of locations in the home. Mosaic tiles are usually small square tiles about 2� square or smaller, going down to about 1/2� by 1/2�, and are produced in a range of colors and materials. Because of their small size, mosaic tiles are very versatile and can be used to create a range of patterns including borders and murals. When used as a border, the tile can help define zones or areas of a room, and it can create focal points when creating a mural. Smaller tiles like mosaics are great at creating texture because of the prominence of grout lines, but these too can be colored to blend in or be as bold as desired.
PENNY T I L E
The penny tile, or circle tile, is a common shape that is growing in popularity. Originally popular in the early 20th century in black and white patterns, the penny tile is now available in a wide range of colors, materials, and finishes. Penny tile is both economical and easy to install, and is a good choice for curved walls because of the small individual tiles that are usually installed on a sheet. Because of their small size and curved edges, they require a little bit more mortar than other tile shapes, and this means that they’re slipresistant and graphic at the same time.
PHOTO BY: BoysPlayNice Photography & Concepts
SQUARE T I L E
Square tiles are the most common tile shape, and come in many standard sizes including 2”, 3”, 4”, 6”, 8”, 12”, 16”, 18”, and 24” square. If you’re looking for tiles for your floor, chances are you’ll be looking at tiles that are 6” or larger. Square tiles have the advantage of being easy to work with because they have no orientation, and it’s easy to calculate how much tile you’ll need, and it’s a breeze to mix and match with other tiles of different colors or even shapes (like a skinny, rectangular tile next to a square tile). Generally, tiling experts suggest using larger tiles, like square or plank tiles, in smaller spaces for fewer grout lines to break up the space. Of course, there are caveats to this, so use your best judgement—if your hallway is only 3’ wide, you might find that 18” square tiles actually feel out of proportion with the space, or they might feel just right.
LISTED BY: Dawn Mullins
PLANK T I L E
Finally, plank tiles are yet another common variation on basic rectangular tiles that are becoming more and more popular as new tile-printing technology develops. These improvements have allowed ceramic tiles to be printed with patterns that so closely resemble wood or stone that it’s hard to tell the difference. Plank tiles are distinct from subway tiles because of their longer proportions, typically in widths of 4”, 6”, 7”, 8” or 9” and lengths of 12”, 24”, 36”, and 48” to more closely resemble wood planks. However, because real wood is actually longer than these dimensions and also varies in length, it can be hard to fool a discerning eye, and so plank tiles are frequently laid out in herringbone or other patterns that work best with these shorter lengths. Ultimately, it’s recommended to use plank tiles in medium to large spaces because of the active patterns and visual interest they create.
PHOTO BY: feather-weight
LISTED BY: Sandy Abrams
W H A T
Y O U
C A N
B U Y
FOR $1.1M 126
PROPERTIES LISTED IN METRO ATLANTA
28
PROPERTIES LISTED IN BUCKHEAD
LISTED BY: Sandy Abrams
$1.195M 4555 PEACHTREE DUNWOODY ROAD 4 B E D | 4 F U L L B AT H | 2 H A L F B AT H
$1.185M 1305 GLEN CEDARS DRIVE 5 B E D | 5 F U L L B AT H | 1 H A L F B AT H
LISTED BY: Debbe Ezzell
LISTED BY: Erin Yabroudy
$1.150M 50 AV E RY D R I V E N E 5 B E D | 3 F U L L B AT H
$1.125M 675 NORFLEET ROAD 5 B E D | 4 F U L L B AT H | 1 H A L F B AT H
LISTED BY: Kathy Olmstead
LISTED BY: Kay Settle
$1.120M 2590 MANOR CREEK COURT 5 B E D | 5 F U L L B AT H | 1 H A L F B AT H
LISTED BY: Studie Young
MARKET UPDATE B Y
N E I G H B O R H O O D
ANSLEY PA R K
BROOK H AV E N
103
254
HOMES FOR SALE
HOMES FOR SALE
21
43
NEW ON MARKET
NEW ON MARKET
$1,121,380
$1,269,055
AV E R AG E S A L E P R I C E
AV E R AG E S A L E P R I C E
+29.8%
+21.1%
SALES PRICES
SALES PRICES
95.70%
94.97%
L I S T T O S A L E P R I C E R AT I O
L I S T T O S A L E P R I C E R AT I O
131 AV E R A G E D AY S O N M A R K E T
125 AV E R A G E D AY S O N M A R K E T
HarryNorman.com Data pulled Jan. 19, 2018 of last 30 days | Properties $750,000+ % sales price change based on changes from January 2017
BROOK WOOD HILLS
BUCK HEAD
15
596
HOMES FOR SALE
4
HOMES FOR SALE
92
NEW ON MARKET
NEW ON MARKET
$1,355,000
$1,463,516
AV E R AG E S A L E P R I C E
AV E R AG E S A L E P R I C E
+42.4%
+3.2%
SALES PRICES
SALES PRICES
94.91%
94.59%
L I S T T O S A L E P R I C E R AT I O
L I S T T O S A L E P R I C E R AT I O
161 AV E R A G E D AY S O N M A R K E T
147 AV E R A G E D AY S O N M A R K E T
GRANT PA R K
MID TOWN
40
58
HOMES FOR SALE
HOMES FOR SALE
20
3
NEW ON MARKET
NEW ON MARKET
$825,000
$1,278,250
AV E R AG E S A L E P R I C E
AV E R AG E S A L E P R I C E
-8.3%
+20.4%
SALES PRICES
SALES PRICES
97.06%
98.40%
L I S T T O S A L E P R I C E R AT I O
L I S T T O S A L E P R I C E R AT I O
48 AV E R A G E D AY S O N M A R K E T
83 AV E R A G E D AY S O N M A R K E T
HarryNorman.com Data pulled Jan. 19, 2018 of last 30 days | Properties $750,000+ % sales price change based on changes from January 2017
OLD FOURTH WA R D
SANDY SPRINGS
22
408
HOMES FOR SALE
6
HOMES FOR SALE
61
NEW ON MARKET
NEW ON MARKET
$824,733
$1,156,615
AV E R AG E S A L E P R I C E
AV E R AG E S A L E P R I C E
-0.3%
-4.5%
SALES PRICES
SALES PRICES
96.81%
99.11%
L I S T T O S A L E P R I C E R AT I O
L I S T T O S A L E P R I C E R AT I O
108 AV E R A G E D AY S O N M A R K E T
198 AV E R A G E D AY S O N M A R K E T
2018 OUTLO OK M A R K E T
N E W S
b y H a r r y N o r m a n , R E A LT O R S ®
LISTED BY: Amy Bubes & Larke Wheeler
The approximately 5% increase in Atlanta region home prices is led by low inventory, low interest rates, and low unemployment. These factors will continue in 2018.*
EMPLOYMENT
According to the Economic Forecasting Center at Georgia State University, the Atlanta area is expected to add 51,800 jobs in 2018. Approximately 13,100 of these will be premium jobs. Home sales and price increases are directly related to job growth, so this will have a positive impact on the residential real estate market.
INTEREST RATES
Interest rates continue to remain at historic low levels. However, there is a slow upward trend that will cause 30-year fixed-rate mortgages to hover around 4% by year end.
AFFORDABILITY
Among major U.S. cities, Atlanta remains one of the most affordable housing markets. Affordability is a measure of whether a typical household earns enough income to qualify for a mortgage loan on a typical home. An increase in personal income was just slightly behind average home price increases in2017 and is expected to be on par in 2018.
INVENTORY
A balanced market generally has about six months of inventory. The metro Atlanta area finished 2017 with approximately 3.5 months of inventory which indicates a seller’s market. We expect this trend to lessen in 2018, but the year will still end with less than 6 months of inventory.
TRENDS
There is clearly a trend toward homes with high functionality, embedded technology, and lower operating costs. The desire for community walkability has never been higher. Live/work/play developments and nearby neighborhoods are in the greatest demand. * Variances exist by geography and price point
HOT AREAS
D R I V I N G
SOLD BY: Price Curtis
F A C T O R S
ATLANTA BELTLINE WEST END O L D F O U R T H WA R D B E L LW O O D Q UA R RY P I E D M O N T PA R K A N S L E Y PA R K
LIVE | WORK PLAY BUCKHEAD AVA LO N JOHNS CREEK UPPER WEST SIDE WOODSTOCK SMYRNA
DOWNTOWN REVIVALS SANDY SPRINGS M I LT O N M A R I E T TA D E C AT U R ROSWELL
I M P A C T
O F
TAX REFORM O N
H O M E
V A L U E S
b y H a r r y N o r m a n , R E A LT O R S ÂŽ
The Tax Cuts and Jobs Act was signed into law at the end of 2017. The impact on residential real estate is uncertain, but it is our belief that it will be minimal. There are three principle components of the new tax code that will impact residential real estate:
EXCLUSION OF GAIN ON SALE OF A PRINCIPAL RESIDENCE
There was no change in this important benefit of homeownership. Sellers will still be able to exclude $250,000 ($500,000 for a married couple) of any capital gain on their primary residence if they occupied the residence for two of the prior five years.
MORTGAGE INTEREST DEDUCTION
The new law allows the deduction of mortgage interest on loans up to $750,000 for loans issued after December 14, 2017. The previous maximum loan amount was $1 million. Loans issued prior to 12/14/17 are grandfathered. This provision will affect a small percentage of homeowners and is expected to be offset for many by adjustments in pass through taxes to business owners which will enhance purchasing power for those in higher income ranges.
STATE AND LOCAL TAXES (SALT)
Starting in 2018, taxpayers who itemize will be able to deduct their state individual income, sales and property taxes up to a limit of $10,000. Filers will have to make a choice: either deduct individual income taxes or state taxes. You should consult your accountant or tax preparer for all of the details of the changes and how they will impact you personally.
LISTED BY: Dawn Mullins
BY THE NUMBERS
Closed over 7,200 units and over $3.1 billion in home sales in 2017.
REFRESHED BRANDING
Our new look is sophisticated and contemporary, but our legacy of professional service remains intact.
ENTERTAINMENT
We started new initiatives to provide specialized services to the film, sports, and music industries.
WEB
Our website remains a leader for: Unique visitors - 28,859 per month Time on site - 2:01 minutes Pages visited - 3.79
SOCIAL
The importance of social media increases each year and Harry Norman, REALTORSÂŽ remains the market leader across: Facebook - 34,187 likes Instagram - 15,334 followers Twitter - 14,008 followers
Web Stats | Source: SimilarWeb Pro (December 2017) Social Stats | Current numbers as of December 31, 2017 for all Harry Norman, REALTORSÂŽ offices.
2017 INITIATIVES C O M P A N Y
W I D E
Buckhead Office - 532 East Paces Ferry Road, Atlanta, GA 30305 | 404.233.4142 | HarryNorman.com | Betsy Franks-Broker The above information is believed accurate, but is not warranted. This offer is subject to errors, omissions, prior sale and withdrawals without notice