ADA Blog

The Benefits of Being Pre-Qualified

2009-06-25T16:43:00.004-04:00

When looking for a home, the first step is to 'Show me the Money'!! You can not be helped to purchase a home if you have not been approved by a lender/bank. How do you know what your price range is? If you are not paying cash, you have to know how much a bank is willing to lend you before you start looking. 9 times out of 10, Buyers look for houses first and find a home they like, tell friends and family then apply for a loan only to find out that they will not get pre-approved.
The benefits of getting pre-approved before looking for a home are:1. You know how much a mortgage broker/bank is willing to lend you.2. You know how to determine the price range of the home you are looking for.3. A Seller will take your offer seriously if present the letter proving the amount you are prequalified for with the offer.4. Even if you can not buy at this time, the mortgage broker/bank will give you a list of issues to correct and an idea of what your time frame is to buy when the corrects are made.

Thanks to Terri Copeland (Affordable Advantage Partner)
terrilovesrealestate@gmail.com

Take another look at dining in downtown Atlanta

2009-01-12T15:45:00.010-05:00

If you have not dined out in downtown lately, you are really missing out. When I joined ADA as their Director of Marketing about four years ago, there were very few options. We had Quiznos around the corner, Lombardis Italian Restaurant next door and the 111 MLK one street over. Does anyone remember the tattooed cashier/owner at 111 MLK? She was awesome and knew everyone by name. Where did she go?

Thanks to all the new development activity and the incentives provided by the Westside and Eastside tax allocation districts, we have tons of choices. My new favorites are Peasant Bistro by the Georgia Aquarium, Ali Babas on Broad St and No Mas in Castleberry Hill. There is no need to go up to Buckhead all the time. This is not a diss on Buckhead, I still love Navas, Portofino and Horseradish Grill. I am just saying, take another look at downtown.

Il Mulinos just opened in the 191 building, I am dying to try them and FAB which stands for French American Brasserie has one of the prettiest restaurant interiors I have ever seen. We had an after work social at Nonis Bar and Deli last month which is on Edgewood Avenue and it is a great little local find with a really cool vibe.

There are too many good restaurants to name in this blog. This website has the most comprehensive list of restaurants in downtown:
http://maps.atlantadowntown.com/dining

Clyde talks money with CNN

2008-08-04T12:24:00.011-04:00

ADA's Clyde Anderson, manager of single-family programs in the housing finance department, is a frequent guest on CNN. This clip is from July 2006 when he appeared on CNN American Morning to discuss the housing bubble with Tony Harris:

Arts and Economic Development

2008-08-01T16:37:00.007-04:00

The Atlanta Journal-Constitution's Kristen Tagami blogged the other day about Atlanta's thriving theater scene. Turns out that, while state and city governments, airlines, and the AJC itself have had a pretty tough go of it in this dismal economy, our arts and culture is doing better than ever. Fundraising and ticket sales were up in the fiscal year that just ended and revenues hit record highs, even in the face of the mortgage crisis and gasoline prices topping $4 per gallon.

Tagami called up Ken Bernhardt, a marketing professor at Georgia State and a dedicated arts patron, to see what he thought contributed to this rather unusual reversal of roles. Bernhardt acknowledged savvier marketing and better products, but he also points to people's need for an escape during dour times. In the context of economic development, this speaks to the ever-important and somewhat nebulous concept of "quality of life"- a big draw for young, educated workers, entrepreneurs and large companies alike.

In Atlanta's case, the arts are, at the moment, providing hope in the face of adverse circumstances not only in emotional terms, but also economic terms. Our culture is high quality, and it is affordable, even when markets are down. What does this sort of relationship to arts and culture communicate to recent graduates, businesses looking to relocate, or developers seeking a dynamic environment for their next project?

Prospective Atlantans can know that the caliber of arts events around town is extremely high. We (in development) already do a good job of name-checking current and coming attractions around town - those that folks from out of town would readily recognize - but Atlanta's arts and culture community is greater than the retail districts, big-ticket attractions, and restaurants Atlanta has come to be known for. Those are clearly an important part of the picture, and they definitely attract a crowd, but the things that get people to return or relocate, those are another story. Atlanta has these assets - from theater companies like the Georgia Shakespeare to avant-garde multimedia galleries like Eyedrum, to Grammy- and Tony-winning cultural powerhouses like the Atlanta Symphony Orchestra and the Alliance Theatre, to museums about civil war battles, authors, visual arts and even puppetry.

At ADA, we know that even when business isn't booming, Atlanta's quality of life maintains and flourishes - thanks in large part to a populace that cares and invests in the things it values. What could be a more supportive and positive environment for young professionals and new or expanding businesses?

K-12 Education Makes Economic "Cents"

2008-07-31T13:58:00.068-04:00

A case can be made that cities with good K-12 schools bring a quality return on investment for economic development. A highly-educated city workforce results in better jobs and higher wages. Companies and corporations are more likely to either relocate their headquarters or open a new location in cities where their employees can enroll their children in schools with a track record of scholastic achievement. In his book The Smart Money: Education and Economic Development, William Schweke writes

"A compelling body of research links primary and secondary education to economic development and growth. This research recognizes people as a type of economic asset – 'human capital' – and shows that increased investment in health, skills, and knowledge provides future returns to the economy through increases in labor productivity. Education increases workers' average earnings and productivity, and it also reduces the incidence of social problems such as drug abuse, crime, welfare dependency, and lack of access to medical care, all of which can weigh heavily on the economy."

Your view on how Atlanta schools systems are doing probably depends on where you live in the Atlanta area. A July 2008 article in the Atlanta Journal-Constitution entitled "More Georgia Schools Fall Short" reports that about one out of every three Georgia public schools met the Adequate Yearly Progress (AYP) standard of the No Child Left Behind Act of 2001.

Only Fayette County in the Atlanta metro area had 100% of their schools meet AYP. The following table shows the percentage of schools meeting AYP in the Atlanta area:

The dynamics between education and economic development must be understood and appreciated by both the education and economic development community in order for Atlanta to have strong and substantable economic growth.

REFEERENCE

William Schweke, Smart Money: Education and Economic Development, Washington, DC, Economic Policy Institute, 2004.