The City of Chamblee is ready to grow! As reported in the Dunwoody Crier, in an effort that could expand its population from 11,000 citizens to as many as 18,000, the city has voted to approve annexation of two parcels which could add over 225 homes to the city.

It was reported that the annexation would be revenue neutral and would provide better police and fire services to many communities around the city that right now rely on DeKalb County for vital services. As many in the community know, DeKalb County was once considered one of the premier counties for quality government in the 27 county MSA of Atlanta. However, recent mismanagement and governmental changes have caused a delusion of services for the northern part of the county.

The northern sector of DeKalb County has the highest average income base and pays a large portion of the counties taxes but receives the least amount of services as compared to the revenue it generates. Citizens frustration with this fact has led to the recent formation of the new City of Dunwoody which recently held elections to seat its new government.

Chamblee officials stated that many have asked to be annexed by the City for years. The recent impetus for the annexation was two fold. First City officials wanted a more clear delineation between the City of Doraville and the City of Chamblee. Second, Chamblee has become a popular community to live in with a well run government and more people want to be identified with the city and the efficient services it provides to the citizens.

The bill to expand annexation of what is called Parcel 1 and Parcel 2 is set to move forward. The annexation of Parcel 1 is likely to go through easily. However, the Parcel 2 annexation may not make it. Many in Parcel two are torn. Some want to join the City of Chamblee while others are hoping for annexation by the newly formed city of Dunwoody.

What ever happens with Parcel 2, one thing is clear, it seems everybody wants to relieve themselves of the burdens and poor delivery of government services that is currently offered by DeKalb County. It seems the only choice for many citizens is to become a city or join one that already exists, thank goodness for well run governments like the one in Chamblee. Chamblee is ready to grow!

(Much of the information for this article and the attached map were obtained from the Dunwoody Crier. The Dunwoody Crier is the premier news paper for information on the cities of Dunwoody, Chamblee, Doraville and Sandy Springs. I highly recommend visiting http://www.thecrier.net )

Michael Gross is the President of Dividend America Mortgage and has been in real estate for over 20 years. He has been a builder, a Realtor, an appraiser, and currently he is a lender and an active real estate investor. He uses all of his experience and knowledge to show individuals how to properly use a mortgage as a tool to help create greater wealth through real estate investing. For more information on residential and small commercial loans please call 770-350-7373 or email mgross@dividendamerica.com .

 

 

For a look at the lighter side, Dunwoody is a great place for dinning.  One of the more prominent restaurateurs in the area is The Dunwoody Restaurant Group, (visit them on-line at http://www.dunwoodyrestaurantgroup.com/TBB.asp )

These chaps are spot on!  They create a fun atmosphere and a consistent ‘olde world’ theme in each of their restaurants.  Each pub has an authentic theme to transform the dining experience.  The staff are always friendly and on your first visit they make you feel like a regular.

As the summer winds down and when the leaves begin to fall, the pub atmosphere really comes alive.  The food is perfect for cooler weather with hearty traditional English stews like shepherds pie.  Also try the Dunwoody Doozie their signature burger.  Bangers and mash and meatloaf are heart warming favorites cooked to perfection.

And for those not into traditional English dishes, there’s something for you to.  Take a gastronomic tour around the world with a British flair.  With Lamb Tikka, an Indian inspired appetizer to the buffalo chicken garden salad, there’s something for every taste.

So the next time you are in town for a visit make sure to find one of The Dunwoody Restaurant Groups wonderful taverns and experience old world charm in the heart of Dunwoody.

Michael Gross is the author of this blog and the president of Dividend America Mortgage.  He is an expert on real estate and mortgage finance and specializes in North Metro Atlanta communities.  Click on the About the Author link above this post to read his bio.

This post should be titled No Voted Needed because the first mayor of Dunwoody will be uncontested in his bid to be the first to run the city.  Ken Wright will be rewarded for his hard work and leadership in the formation of Georgia’s newest City.

Haveing done the hard work to realize the dream of a city, now Mr. Wright embarks on an even greater task, forming the cities first government.  Mr. Wright surely has his work cut out for him as he deals with the Governors Commission on Dunwoody to develop the city in a way that will mesh with the state government.

Congratulations to Mr. Wright are in order and a big thank you from the citizens of the City of Dunwoody.  It will be interesting to see how the rest of the elections go as all other seats appear to be well contested. 

Good luck to all and a big thank you from those of us whom you have chosen to serve!

Michael Gross is the author of this blog and the president of Dividend America Mortgage.  Click on the About the Author link above this post to read his bio.

The City of Dunwoody has formed a Chamber of Commerce to give businesses in the newly formed city visibility.  The mission of the new chamber is to be the unified voice of the local business community.

The Dunwoody Chamber Foundation is located at 5588 Chamblee Dunwoody Road, Suite 180, Dunwoody, GA 30038.  You can visit their web site for information at www.dunwoodychamberofcommerce.org or click the link in the related section of this blog.  The phone number for the new chamber is 678-244-9700.

Many local business have already joined and include; McKendrick’s Steakhouse, Eclipse Di Luna, The Crier Newspaper, PostNet, and Tin Drum Cafe.  For information about joining the chamber or learning about the newly formed city, call Joe DeVita, Founding Organizer and Chief Staff Officer at 404-660-1144.

Visit our new chamber and learn about them; building bridges with public and private partnerships for a thriving local economy…..the Dunwoody Chamber of Commerce, Inc.

Michael Gross is the author of this blog and the president of Dividend America Mortgage.  Click on the About the Author link above this post to read his bio.

Dunwoody is getting a new office tower.  Many months ago, the Atlanta Business Chronicles first reported that Barry Realty planned to build several high rise buildings in a campus like setting at the corner of Perimeter Center Parkway and Hammond Drive. 

The Dunwoody Crier, a local paper that specializes in reporting on the city, has confirmed that two towers will be built.  There will be a 25 story office tower and 20 story hotel.

At a recent meeting of the Dunwoody Homeowners Association (DHA) the project was approved.  The buildings have also passed muster with DeKalb County, the Atlanta Regional Authority and the Georgia Regional Transportation Authority.

This project is a big win for progress in the PCID (Perimeter Center Improvement District), however, other hoped for buildings have been put on hold.  The Dunwoody Crier has reported that Cox Enterprises has put on hold a planned improvement to their campus located off of Lake Hearn Drive near I-285. 

So you win some and you lose some.  Over all the steady, methodical and slow paced approach to this type of development allows for a well planned community and we welcome both decisions.

Michael Gross is the author of this blog and the president of Dividend America Mortgage.  Click on the About the Author link above this post to read his bio.

It’s that time of year again.  August is upon us and the summer is winding down.  Everybody is thinking about the new school year. 

 

Parents are making the decisions about what clothes to buy, how much to spend on Georgia’s annual tax holiday and how to rearrange their schedules to make sure that everyone gets to school on time.

 

Don’t let the summer sun over heat you as you travel the hot pavement on Ashford Dunwoody road to go shopping at one of Atlanta’s best malls, Perimeter Place Mall.  Take a few moments to plan your trip and things will be alright.

 

Remember that Ashford Dunwoody Road, the surrounding side streets and the top-end Perimeter can get pretty hectic.  It’s best to use a 10am – 3pm time window when traveling these busy thorough fares.  Fix the family a nice dinner and eat it under the shade of the big oak out back and then head out again after 7:00 and you’ll be fine.

 

Getting the kids new clothes and back to school supplies is only half the battle.  You’ve got to know where which school they’ll be going to as well.  Here’s a handy link with some of the schools in the City of Dunwoody to help you research.

 

http://ga.localschooldirectory.com/schools.php/cPath/3210

http://www.greatschools.net/city/Dunwoody/GA

http://www.schooldigger.com/go/GA/city/Dunwoody/search.aspx

 

The newly formed City of Dunwoody has always had some great schools.  With the formation of the city and the ability to place the proper types of zoning around the schools, the system and surrounding environment should improve even more.

 

Dunwoody is a great place to live and a great place to learn.  One final note, before the summer ends, you must visit The Spruill Center for the Arts and Education.  The Ashford Dunwoody Road location is still having their Wednesday Farmer’s Market from 8am until noon.  Stop by for fresh vegetables and a fun outing with the children before the summer is gone!  ….Open until October….  http://www.spruillarts.org  

 

 

 

The Housing Bill passed both houses of congress with flying colors and now it seems that a threatened veto by the president has been reconsidered and he will sign the bill after all. So is the housing bill good or bad for America?

Let’s take a look at some of the finer points in the legislation.

· $7,500 Tax Credit – Yes that’s right, for those of us who buy a foreclosed home as a first time homebuyer, there is a tax credit. But wait, not so fast, the credit has to be paid back….

What, paid back? How is that a credit then? Sounds like Mr. Reed and Ms. Pelosi pulled a fast one. If you take the credit, you’ll have to pay it back in equal installments over the next 15 years.

· Increase in Conforming Loan Limits for Fannie Mae – Under the current system, home loans greater than 417,000 are considered to Jumbo Loans. Under this provision the new conforming limit will be $625,500.

This is good news for those of you were forced to take a Jumbo loan when you bought or refinanced your home in the past. If you have a loan amount between $417,001 and $625,500 it is time to investigate whether a lower rate is available! Call Today!

· FHA Revamped and Modernized – The good news is that FHA will be revamped and modernized and will act as America’s major subprime player in the mortgage market. The bad news is that the bill takes away down payment assistance.

If you are in trouble and on the verge of foreclosure, FHA may be the answer. Refinancing with an FHA loan is exactly what this new program is for.

However, if you are one of the more than 250,000 citizens each year that depend on down payment assistance in conjunction with an FHA loan, the Democrat controlled congress (you know, the ones who are ‘for’ the little people) just kicked you to the curb.

And, if you are a real estate investor, this means that your flip strategies with homes in the first time homebuyer market may be at risk. There are resources available to help you sell your homes using down payment assistance but they will now be very specialized sources and may require buyers to take certain home ownership courses to qualify. (for information on these sources visit dividendamerica.com and schedule a consultation)

The bill is a mix of good and bad, give and take. To be fair, this bill is more about giving stock market investors confidence in the mortgage market than about helping the everyday citizen.

As with all things government does, this legislation is a huge compromise that could have been better but is a step in the right direction.

For more information read the article on MarketWatch.com: http://www.marketwatch.com/news/story/fine-print-housing-bill-mutes/story.aspx?guid=8AA21F55-D848-4076-B9EF-282FEAD95B1D&print=true&dist=printMidSection

Michael Gross is the President of Dividend America Mortgage and has been in real estate for over 20 years. He has been a builder, a Realtor, an appraiser, and currently he is a lender and an active real estate investor. He uses all of his experience and knowledge to show individuals how to properly use a mortgage as a tool to help create greater wealth through real estate investing. For more information on residential and small commercial loans please contact Mr. Gross on his direct line at 770-350-7373 or via email at mgross@dividendamerica.com

As reported on the front page of the Dunwoody Crier, candidates are lining up to run for the electable posts in the cities newly formed government.  Approximately 75 people showed up to the informational meeting geared towards educating potential candidates on how to register to run.

Qualifying must be completed by August 6th.  The city’s first official day of operation will be on December 1st.  There will be a special election on September 16 when the city’s approximately 24,200 registered voters will be able to choose their new leaders.

Warnings from other newly formed cites range from admonishing potential ‘electees’ that this is a full-time job to advising them of being wary of the dirty tricks by politicians of the county government that they are splitting away from.  They said careful negotiation would be need to keep the county from saddling the new city with debt and unexpected responsibilities.

In a sign that less government is more, many of the advisors invited to speak encouraged privitization of services and written intergovernmental cooperation agreements to create a cost efficient and smooth running government. 

To read more, click on the Dunwoody Crier link in the link section of this page.  There are two great information articles there.

Date line July 15, 2008 and a new city is born.  Approximately 80% of the populous votes Yes to the referendum to form the City of Dunwoody.

 

While many believe that the city will help residence guide zoning and keep schools from being overcrowded, others argue that higher taxes are just around the corner.   Regardless of the differences of opinion, the City of Dunwoody is now on the map!

 

So what does this mean for the citizens?  Well let’s focus on the possible positives that could affect property values and real estate in the market.

 

First and foremost, agree or disagree, homogony of design and tight restrictions on building style create a theme for a community and generally causes an increase in property values. 

 

Furthermore, tight controls of zoning and integrated neighborhood planning also help to create a commonality in development.  This feeling of community creates desirability, a since of neighborhood and security and raises the reputation of the city.

 

As the city becomes known as a great place to raise a family because of superior school systems, low crime rates and great employment opportunities, home values will rise.  This is good for the community and everyone in the city benefits.

Many people are worried about their home values. A recent study shows that home values dropped by 1.7% last month in 43 states. That’s the largest drop in recorded history. So what can you do?

First, don’t panic! Remember that real estate is an illiquid asset. In most cases non-liquid markets tend to stabilize faster than liquid markets. After all, you can make a run on a bank and you can dump a stock, but selling a home is a more drawn out process.

In historical terms, real estate has always been a long-term investment. In the final analysis, the home is much more than an investment; it is also a place of refuge, comfort and security for your family. If you are in a neighborhood with good employment, strong schools and low crime, time will heal the financial wounds inflicted on your home value by this economic downturn.

The value of real estate and the ‘investment’ aspect are a product of time. Most people achieve wealth in a primary residence from two forces that create equity and value. Over many years the market will incrementally increase the value of the home and the owner can pay off the loan on the property. This one-two combo punches up the equity in the home and creates a financial windfall for the owner in the distant future.

Homes that are located in good neighborhoods with positive histories benefit from patience and will be the first to retrieve lost value once the market perceives that the economy is okay again.

Focus on reducing the principal balance on your mortgage and on maintaining the quality of the property and the appearance of the neighborhood as a whole. Banding together with other concerned homeowners to maintain the integrity of the entire neighborhood will insure future value growth.

Patience and persistence are important. In this market the key to the return of your home’s value is time.

If you have specific questions or concerns about your homes value, the interest rate on your mortgage or the impact of an economic downturn on your market, please do not hesitate to call. We are here to help.