Real Estate Rundown
A recap of what’s happening in Georgia real estate this month
Isaac Quinn, Cook & James
“Student Loan and Home Ownership”
• Should student loans prevent you from buying? American Student Assistance claims that 55% of student loan holders blame debt as the main reason homeownership is delayed. While there are some major differences between being a first-time home owner and an experienced home owner, it is good to know that home ownership and student debt are not mutually exclusive. This means you can purchase a home, become approved for a mortgage loan, and still make good on student loans. The three pillars of home ownership are your credit score, debt to income ratio, and your down payment. Read more here.
“Emerson Development Scrapped”
• JPX Works scrapped their condo development project in Atlanta. The Emerson, a highly anticipated development that was going to be located at 2520 Peachtree road in Midtown, has been discontinued and the land will be sold as a development site. “Our great city deserves quality, innovative architecture, and we regret that Emerson Buckhead and its striking design will not materialize” said a JPX Works spokesperson. Find out more here.
“Midtown Building Winning Awards”
• Another building in the Midtown neighborhood recently won an award after selling 35 homes since March. No.2 Opus Place became the fastest selling pre-construction tower in Atlanta. It will re-define luxury living in the Midtown area. Find out more here.
“Real Estate Fraud”
• More than $22 million dollars defrauded. Emily Fu, once honored with the Governor’s International Award, plead guilty to mail fraud, inflated sales prices, phantom property sales, embezzlement, and unauthorized loans specific to commercial real estate investing. It is believed Fu began around 2014 and was caught after investors discovered about $21 million dollars pocketed. Read here.