The Search
Chris Philmon knew he and his wife, Magdalena, needed to take advantage of the low prices in the condo market.
The location was an easy decision. The Sandy Springs area was close to work and the Concourse Athletic Club. Access to the Perimeter gave them shopping and dining options, and a nearby MARTA station.
“Years ago I lived up this way and I had always liked it. I knew that she liked it up here,” said Chris, 31, a mortgage loan officer for MiLend. “With our jobs, we wanted to stay in the area.”
Chris and Magdalena, an accountant, got married in September 2009 and started looking in November 2010 for a condo. Buying a condo meant they didn’t have to worry about the exterior or yard maintenance.
The couple had their pick from plenty of condos on the market, considering three communities with two bedroom units.
No. 1
Loft-style living near Ga. 400
The units in Park Towers Place, located on Hammond Drive in Sandy Springs, had 10-foot ceilings, walk-in closets, hardwood floors and a second floor loft area. Amenities in the gated community, just about 1.5 miles from Chris’ office, included tennis courts, a courtyard, a 24-hour concierge, a fitness center, a pool and a clubroom. It even had a wine cellar for residents. The units they considered faced Ga. 400, so the couple had to decide whether it was too noisy for them to fully enjoy the balcony, said their agent, Roxanne Fucci with Coldwell Banker Residential Brokerage. The two-bedroom units built in 2004 that they considered were priced in the $175,000s.
No. 2
Never lived in
Sandy Springs’ Serrano community was built in 2009, but then the FDIC seized the assets of Corus Bank, which was developing the property to sell. The FDIC partnered with ST Residential, a joint venture company, to sell the units. The brick and stucco added to the Mediterranean style. The community, on Abernathy Road, was about a half-mile from Chris’ job and had amenities including a pool, theater room, fitness center and saunas, and 24-hour concierge. The two-bedroom units they considered were priced in the $140,000s-$150,000s.
No. 3
River setting
The condos in Atlanta’s One River Place, just inside Interstate 285 off New Northside Drive and Powers Ferry Road, was another ST Residential property but a completely different style. The condos, located near the Chattahoochee River, were appointed with a more rustic look than the other communities they considered. The gated community was the largest they considered, with plans for 425 townhomes and condos when complete. The condos had balconies for a view of the community, which has a clubhouse, fitness center, two pools and an events coordinator. Condos were available in the mid $100,000s.
The Choice
No. 2. The couple looked at about three units in the building and wrote a contract within 10 days. They chose a two-bedroom, two-bath condo with granite countertops in the kitchen and master bathroom, which had double vanities and brushed nickel finishes. Chris said the units originally were slated to sell above $300,000, so the $148,900 price made it irresistible. The couple also was able to get a storage unit in the complex. They moved in at the end of March. “I’m more excited about this move than others I’ve had in the past,” he said.
