Monday, September 24, 2012
Homes of Huntsville; Adding new spouse to deed
Under Alabama state law the spouse automatically has half ownership of the homestead property so you don't have to take any action.
September 24th, 2012 10:15 AM
Under Alabama state law the spouse automatically has half ownership of the homestead property so you don't have to take any action. If you do want to add your spouse on the homes of huntsville deed just call the Madison County Probate Judge's office. There is a form to fill out and they will need to see your marriage certificate.
http://madisoncountyal.gov/probate/contact.shtml
Thursday, September 13, 2012
Homes of huntsville; lender guidelines tightened
Fannie Mae changes program guidelines October 20, 2012!
Tired of change? We understand! However, we want to make you aware of any changes that could affect your business. There are two Conventional outlets: Fannie Mae & Freddie Mac. Fannie Mae has announced changes to their underwriting system (DU 9.0) over the weekend of October 20th. Most approvals will be similar to the ones that are in the current system, DU 8.3. There are some differences, which are:
Condos: Some of the highlights are reportedly, "Limited Review for Condominiums is going to be maxed at 80% (currently at 90%) What is a condo review? A Limited Review Process is intended to be used on "spot loan" basis, meaning lenders can originate loans that arise through the ordinary course of business.
Expanded Approval:The biggest change, in my opinion, is that Expanded Approvals (EA), with the exception of DU Refi Plus, will be retiring. Expanded Approvals use to be in levels of I, II, and III (1, 2, & 3). The number let the underwriter know what kind of expanded risk the file was. Unfortunately, these will be going away.
ARMs and Rate and Term Refinances:
The maximum LTV to be allowed for financing will be DECREASED on ARMS and Rate & Term Refinances. Currently you can finance up to 97%.
For example: Sales Price: $100,000, loan amount can be up to: $97,000 (with certain parameters, including credit score and debt to income.) They will be decreasing this to 90%! The new max loan amount in the same scenario will be: $90,000.
ARM- adjustable Rate Mortgage
Rate & Term Refinance: Just lowering the interest rate, not paying off any debt other than the mortgage. Rate & Term refinances were prevalent before DU Refi plus. Many Americans do not have loans owned by Freddie Mac & Fannie Mae, therefore they would HAVE to do a Rate & Term Refinance or go with a government program, if the criteria allowed.
Self Employed Borrowers: Most real estate agents are self employed borrowers! Fannie Mae's new release will require self employed borrowers to produce 2 years of 1040's (currently allows for 1 year.) Most investors currently require the 2 years anyway so...... maybe not that big of a change.
Basically, Fannie has tightened underwriting standards based on performance data.
INFO THAT HITS US WHERE WE LIVE... One of the key things remaining to be done to achieve a housing market recovery is a return to appreciating prices. Many observers feel prices have stabilized nationally and now we're seeing the first signs of some increases. A national real estate website reports the asking prices for homes for sale were up in August for the seventh month in a row. This put them UP 2.3% versus a year ago, the largest year-over-year gain since the housing downturn began.Excluding foreclosures, asking prices Huntsville AL MLS were UP 3.8% nationally for the year. This means they're rising at a faster rate than wages, so affordability is no longer on the increase. The price gains are broadly based, showing up in 68 of the 100 largest metros tracked. Many feel a big reason for the improved housing market is the reduced inventory of homes for sale. According to the National Association of Realtors (NAR), inventory fell nationally 23.8% from a year ago July, to 6.4 months.
huntsville houses We can assist you in finding area houses that will meet your needs and price range.You can search the entire Huntsville MLS for houses on your own without having to register.
Wednesday, September 12, 2012
Homes of huntsville, huntsville al mls, huntsville houses
Homes of HUntsville; National home prices have posted some of their strongest gains this year in nearly six years.
September 12th, 2012 6:32 PM
Source; Realtor Magazine
Housing Progresses, But Has it Recovered? Daily Real Estate News Tuesday, September 11, 2012
Home prices have posted some of their strongest gains this year in nearly six years. But while prices have likely hit bottom, the public shouldn’t confuse that with a full recovery. A lot more still has to happen to get to that point, analysts say. For one, inventories of homes for-sale need to reach more normal levels. The number of homes for sale are at an eight-year lows, The Wall Street Journal reports. Prices are rising in many areas but it’s because “there are more buyers chasing fewer homes and fewer distressed homes, such as foreclosures,” The Wall Street Journal reports. Also, millions of home owners are underwater, owing more on their mortgage than their home is currently worth, which is preventing them from trading up and moving to a new home. Home prices have been increasing at the fastest rate in markets that have some of the highest number of underwater home owners because so few homes are for sale, according to The Wall Street Journal. “While low inventories have helped firm up prices, they could also soon lead to year-over-year declines in sales volumes because there aren't enough homes on the market to sustain the current sales pace,” The Wall Street Journal reports. Other challenges the housing market still faces on its road to recovery include the stringent lending standards that are preventing many potential buyers from qualifying for a loan. Also, a large overhang of distressed mortgages has the potential to cause foreclosures to rise. Furthermore, if high unemployment across the country continues, it will putoff rising home prices. Source: “Housing on Mend, but Full Recovery Is Far Off,” The Wall Street Journal (Sept. 9, 2012) Huntsville Houses We can assist you in finding area houses that will meet your needs and price range.You can search the entire Huntsville MLS for houses on your own without having to register.
Source; Realtor Magazine
Number of Improving Housing Markets Grows Daily Real Estate News Tuesday, September 11, 2012 The number of metro areas showing signs of real estate market improvement expand in September, rising from 80 to 99 metro areas, according to the National Association of Home Builders/First American Improving Markets Index. "This solid growth is an encouraging sign that housing continues on a slow but steady recovery path that is gradually advancing from one local market to the next," says Barry Rutenberg, chairman of the National Association of Home Builders. The index identifies metro areas that have shown improvement in housing permits, employment, and home prices for at least six consecutive months. This month, the markets added to the list include Tucson, Ariz., Jacksonville, Fla., Springfield, Ill., Greenville, N.C., and Bend, Ore., among others. "More metros across the country are experiencing a sustained uptick in house prices, employment, and new building activity as rising consumer confidence in local market conditions pushes more people to consider a new-home purchase," says NAHB Chief Economist David Crowe. Huntsville AL MLS
########
NAHB/First American Improving Markets Index (IMI)
Permits
Growth
Prices
Growth
Employment
Growth
Trough
From
Trough
From
Trough
From
MSA
Date
Trough
Date
Trough
Date
Trough
1
Fayetteville, AR
04/30/09
3.3%
03/31/11
6.5%
09/30/09
4.9%
2
Jonesboro, AR
02/28/11
2.0%
01/31/10
4.8%
06/30/09
2.3%
3
Little Rock, AR*
04/30/11
2.8%
02/28/11
1.6%
02/28/10
1.6%
4
Phoenix, AZ
03/31/09
4.3%
06/30/11
13.6%
09/30/10
4.3%
5
Prescott, AZ
08/31/10
6.1%
06/30/11
5.7%
11/30/11
2.1%
6
Tucson, AZ*
06/30/11
5.1%
09/30/11
3.7%
06/30/11
1.0%
7
Yuma, AZ*
08/31/11
6.3%
09/30/11
2.5%
12/31/11
1.9%
8
Hanford, CA
08/31/11
16.0%
07/31/11
2.3%
12/31/10
8.6%
9
Sacramento, CA*
06/30/11
7.1%
10/31/11
2.4%
07/31/11
2.8%
10
Boulder, CO
11/30/09
11.0%
01/31/11
4.6%
03/31/10
6.3%
11
Fort Collins, CO*
03/31/09
6.5%
12/31/10
5.6%
09/30/09
5.1%
12
Greeley, CO*
01/31/09
2.3%
02/28/11
8.4%
12/31/09
6.5%
13
Washington, DC
01/31/09
1.1%
01/31/11
2.5%
02/28/10
3.8%
14
Cape Coral, FL
03/31/09
4.6%
02/28/11
12.7%
01/31/10
3.9%
15
Crestview, FL*
03/31/09
2.7%
05/31/11
4.3%
03/31/10
3.6%
16
Deltona, FL
04/30/09
1.1%
03/31/11
10.2%
12/31/10
1.0%
17
Jacksonville, FL*
04/30/09
1.7%
01/31/11
0.2%
03/31/10
1.9%
18
Lakeland, FL*
01/31/11
3.1%
06/30/11
0.3%
01/31/12
1.9%
19
Miami, FL
04/30/09
4.3%
09/30/11
5.6%
01/31/10
2.8%
20
North Port, FL
05/31/09
5.0%
03/31/11
2.9%
12/31/10
1.6%
21
Orlando, FL
05/31/09
3.6%
04/30/11
3.3%
12/31/09
3.2%
22
Palm Bay, FL
04/30/09
2.0%
04/30/11
6.4%
12/31/11
1.3%
23
Pensacola, FL
05/31/09
2.9%
05/31/11
3.1%
12/31/09
2.2%
24
Punta Gorda, FL*
01/31/09
1.2%
02/28/11
5.2%
06/30/09
5.5%
25
Sebastian, FL*
10/31/09
2.1%
10/31/11
13.4%
02/28/10
2.3%
26
Tampa, FL
02/28/09
2.1%
03/31/11
8.2%
01/31/10
4.3%
27
Ames, IA
07/31/10
3.8%
02/28/11
2.3%
01/31/10
7.3%
28
Des Moines, IA*
02/28/09
3.7%
12/31/10
1.1%
08/31/10
2.2%
29
Iowa City, IA
05/31/10
3.5%
01/31/10
0.6%
12/31/09
2.5%
30
Sioux City, IA*
12/31/08
2.1%
05/31/11
1.2%
06/30/11
4.2%
31
Boise City, ID
03/31/09
3.9%
04/30/11
8.4%
06/30/10
3.9%
32
Springfield, IL*
01/31/12
0.5%
11/30/10
1.6%
04/30/09
1.4%
33
Bloomington, IN
09/30/11
4.6%
12/31/10
6.8%
12/31/08
2.5%
34
Columbus, IN
01/31/10
4.8%
08/31/11
3.6%
07/31/09
20.6%
35
Evansville, IN
03/31/09
1.8%
04/30/11
1.4%
07/31/09
4.2%
36
Muncie, IN
04/30/11
5.4%
02/28/10
2.2%
05/31/11
2.3%
37
Terre Haute, IN
02/28/11
1.1%
08/31/11
2.4%
12/31/11
1.9%
38
Houma, LA
03/31/10
1.8%
07/31/11
2.2%
06/30/11
7.2%
39
Lafayette, LA*
02/28/09
1.6%
10/31/11
1.5%
01/31/10
14.2%
40
Monroe, LA
03/31/09
2.2%
05/31/10
2.2%
09/30/09
0.8%
41
Barnstable Town, MA*
04/30/11
2.1%
06/30/11
1.4%
08/31/11
3.9%
42
Bay City, MI
08/31/10
3.5%
02/28/11
6.5%
07/31/09
3.6%
43
Detroit, MI
04/30/09
8.2%
03/31/11
6.5%
06/30/09
5.5%
44
Grand Rapids, MI
04/30/09
2.0%
02/28/11
5.8%
07/31/09
6.8%
45
Jackson, MI*
11/30/11
13.1%
02/28/11
3.2%
03/31/10
6.4%
46
Monroe, MI
03/31/09
1.9%
02/28/11
8.5%
10/31/09
4.1%
47
St. Cloud, MN
11/30/11
4.0%
03/31/11
1.0%
02/28/10
6.2%
48
Columbia, MO
11/30/08
1.9%
01/31/11
2.5%
08/31/09
3.6%
49
Jefferson City, MO
09/30/10
2.1%
04/30/11
2.5%
03/31/11
1.2%
50
Joplin, MO
12/31/10
6.5%
02/28/11
7.0%
01/31/10
7.3%
51
Kansas City, MO
03/31/09
3.2%
02/28/11
3.7%
03/31/10
1.9%
52
St. Joseph, MO
02/28/10
0.4%
03/31/11
7.2%
01/31/10
10.3%
53
Jackson, MS
03/31/09
2.1%
01/31/11
2.6%
01/31/10
2.2%
54
Greenville, NC*
08/31/10
2.5%
02/28/11
0.9%
08/31/11
1.2%
55
Jacksonville, NC
01/31/09
2.2%
09/30/11
1.4%
12/31/07
3.9%
56
Bismarck, ND
03/31/09
18.9%
01/31/10
15.2%
12/31/07
11.8%
57
Fargo, ND
04/30/09
3.9%
03/31/11
2.1%
04/30/09
7.5%
58
Grand Forks, ND
03/31/09
3.7%
12/31/10
8.8%
04/30/09
3.0%
59
Lincoln, NE
12/31/08
1.8%
01/31/11
2.5%
12/31/09
3.9%
60
Vineland, NJ
06/30/11
1.6%
03/31/11
2.9%
06/30/11
1.4%
61
Syracuse, NY
08/31/11
2.5%
02/28/11
1.9%
08/31/10
0.9%
62
Utica, NY*
12/31/11
7.9%
11/30/10
1.7%
08/31/11
2.6%
63
Canton, OH
11/30/11
9.3%
01/31/11
6.0%
10/31/09
8.0%
64
Columbus, OH
07/31/11
3.4%
02/28/11
4.7%
12/31/09
4.4%
65
Sandusky, OH
10/31/09
1.7%
03/31/11
5.1%
12/31/09
8.8%
66
Springfield, OH
01/31/11
6.8%
02/28/11
2.2%
01/31/10
5.2%
67
Lawton, OK*
01/31/12
4.3%
10/31/11
3.0%
12/31/11
1.0%
68
Tulsa, OK
02/28/11
2.0%
02/28/11
4.6%
02/28/11
3.4%
69
Bend, OR*
02/28/09
4.4%
06/30/11
1.1%
06/30/11
0.5%
70
Altoona, PA*
01/31/12
47.4%
05/31/10
3.5%
02/28/10
0.2%
71
Erie, PA
04/30/11
8.0%
02/28/11
1.4%
01/31/10
9.9%
72
Pittsburgh, PA
02/28/09
1.8%
01/31/10
5.7%
02/28/10
4.9%
73
Greenville, SC
09/30/10
3.0%
12/31/10
1.9%
09/30/09
3.6%
74
Rapid City, SD*
11/30/11
7.9%
03/31/11
1.4%
02/28/10
2.5%
75
Clarksville, TN
05/31/08
0.9%
02/28/11
2.3%
03/31/09
5.7%
76
Cleveland, TN*
01/31/09
0.8%
11/30/10
2.9%
01/31/12
2.9%
77
Knoxville, TN
10/31/11
2.0%
02/28/11
2.5%
08/31/09
6.7%
78
Amarillo, TX*
10/31/08
1.3%
11/30/10
0.8%
04/30/10
5.7%
79
Austin, TX
07/31/11
4.3%
01/31/11
6.5%
09/30/09
8.0%
80
College Station, TX*
10/31/10
2.6%
09/30/10
2.7%
01/31/08
6.4%
81
Dallas, TX
03/31/09
1.6%
02/28/11
4.7%
12/31/09
5.4%
82
Houston, TX
04/30/09
1.3%
08/31/11
6.6%
12/31/09
7.5%
83
Laredo, TX
12/31/08
1.1%
04/30/10
5.8%
09/30/09
9.6%
84
Lubbock, TX
09/30/11
7.0%
09/30/11
0.9%
09/30/10
4.4%
85
McAllen, TX
01/31/09
0.6%
11/30/10
1.5%
12/31/07
4.8%
86
Midland, TX
04/30/09
3.9%
01/31/10
19.3%
08/31/09
18.9%
87
Odessa, TX
02/28/09
19.8%
10/31/10
11.3%
08/31/09
23.9%
88
San Angelo, TX
12/31/10
3.4%
04/30/11
10.2%
06/30/09
7.1%
89
San Antonio, TX
04/30/11
1.3%
12/31/10
4.6%
09/30/09
4.2%
90
Texarkana, TX
08/31/11
14.6%
01/31/10
0.6%
10/31/09
8.6%
91
Victoria, TX
09/30/10
5.0%
02/28/11
11.9%
11/30/09
5.6%
92
Waco, TX*
04/30/09
1.7%
01/31/10
3.9%
01/31/12
1.8%
93
St. George, UT
03/31/09
4.1%
05/31/11
7.2%
12/31/09
3.3%
94
Charlottesville, VA*
04/30/09
0.2%
08/31/11
0.3%
01/31/10
4.2%
95
Kennewick, WA*
03/31/09
3.0%
10/31/11
2.9%
12/31/07
8.5%
96
Mount Vernon, WA*
11/30/11
5.7%
10/31/11
0.6%
02/28/10
2.1%
97
Huntington, WV*
01/31/09
2.1%
03/31/10
6.8%
06/30/11
2.0%
98
Casper, WY
06/30/11
8.9%
01/31/10
4.4%
12/31/09
10.5%
99
Cheyenne, WY
12/31/08
3.6%
11/30/10
4.9%
01/31/10
5.3%
* New this month
DROPPED this month
Gadsden, AL
Dover, DE
Hinesville, GA
Rome, GA
Warner Robins, GA
Bowling Green, KY
Springfield, MA
Saginaw, MI
Burlington, NC
Goldsboro, NC
Florence, SC
Parkersburg, WV
Notice for 2013 HAAR Huntsville AL MLS Director Nominations The Nominating Committee of the Huntsville Area Association of REALTORS will meet on Tuesday, October 4, 2012 from 1:30PM - 2:30PM (directly following the membership meeting) so that members may appear before them to offer nominations. More info to follow. HAAR Bylaws Article XI. Officers and Directors, Section 5A. - Election of Officers and Directors. Please contact Sid Pugh, Nominating Committee Chair (Sid@pughgroup.com) or Christina Hearne at HAAR (Christina@hbrmls.com) if you have any questions regarding this notice. There are 7 Director positions to be filled. Below are your Directors serving through 2013: Cindy Allen Lori Carter Betty Hughes Steven Lamar Zelda Lanza Clif Miller Michael Rosenblum Robert Simons Rod Weaver Ex Officio (2 Past presidents): Valerie Miles Bill Ward
5 Strong Performing Housing Markets Daily Real Estate News Tuesday, September 11, 2012 Several real estate markets are showing signs of recovery, with median home prices and sales rising. But which homes of Huntsville markets are showing some of the strongest signs of recovery? 24/7 Wall St. recently evaluated home price changes for the year ending in July, foreclosure data, the unemployment rate, and other factors to help determine which housing markets are performing some of the strongest. The states that emerged on top of the list are: 1. Arizona Home price change in the last year year: +16.6% Median home price: $248,229 2. Idaho Home price change in the last year: +10% Median home price: $85,000 3. Utah Home price change in the last year: +9.3% Median home price: $129,000 4. South Dakota Home price change in the last year: +8.3% Median home price: $101,700 5. Colorado Home price change in the last year: +7.3% Median home price: $240,000
Monday, September 10, 2012
Homes of huntsville sales up 3.6%; Huntsville al mls
September 10th, 2012 7:22 PM
SOURCE; ACRE
Homes of Huntsville; Alabama home sales during July 2012 up 3.6 percent from 2011. July new home sales in Alabama's five metro markets, representing approximately seventy percent of all statewide transactions, experienced a 17.5 percent decrease from the prior month. Sixty percent of metro areas have experienced YTD increase in new home sales compared to 2011 with Montgomery (up 24%) posting the best results followed by Tuscaloosa (18%) and Birmingham (15%). YTD new home sales have declined in Mobile (down 22%) and Huntsville (down 6%). Demand: In July, Alabama new home sales were outperformed by the US market which reflected an increase of 25.3 percent from July 2011 and up 3.6 percent from the prior month, according to the US Census Bureau & HUD. The release also reported that the results from the South region were up 9.7 percent from July 2011 but 1.6 percent down from last month. View full sizeAL YTD residential building permits up 4.1% from 2011. Infograph courtesy of ACRE. All rights reserved. Supply: Statewide new construction inventory has declined by approximately 13 percent from last July which is consistent with US trend (down 14%). All metro markets have experienced reductions in inventory since July 2011. Birmingham (down 19%), Mobile (-17%) and Huntsville (-9%) led the state in inventory reduction. Alabama's metro markets in July reflect 4.8 months of new home supply, an increase from 4.6 months of supply in July 2011 and down from 4.1 months from June 2012. According to the US Census Bureau, the US inventory of new homes for sale decreased to 142,000 homes or 4.6 months' supply, also a big improvement from 6.7 months of supply in July 2011 (down 31%). Pricing: Alabama's metro market's median new home sales price in July was $221,886, a decrease of 2.2 percent from last month and an increase of 2.4% when compared to July 2011. New Home Pipeline: July statewide housing starts decreased by 2.5 percent from the prior month and decreased 1.8 percent from July 2011. YTD housing starts are up 3.4%. July statewide building permits were down 3.4 percent from the prior month and 6.2 percent from July 2011. YTD building permits are up 4.1%. Residential Construction Employment: According to the Alabama Dept. of Industrial Relations, statewide residential construction employment was up 1.1 percent (700 jobs) to 61,400 from last month but remains down 6.9 percent or 4,600 workers from July 2011. Local Results: 9 out of the 27 home builder associations (33 - up from 30% in prior month) reported gains in building permits from the prior month (June 2012) while 9 associations (33% - down from 37%) reported gains in housing starts. As the market transitions into the third quarter of 2012, statistical volatility is anticipated. Real estate sales are seasonal and third quarter sales typically begin to gradually decline from the prior "sales peak" second quarter. Through July, seventy-two percent (18 of 25) of the local housing markets have experienced year-to-date (ytd) sales growth from 2011 and that is welcome news for Alabama consumers as well our state's real estate community. On the other hand, continued anemic US job creation/economic growth, strict underwriting standards, uncertainty of election (ie 2013 tax policy) and the global economic slowdown top the list of concerns that market watchers cite as elements that could possibly impact the fragile housing recovery. For other Alabama real estate resources & news, please visit our website and our ACRE blog. The ACRE New Construction Monthly Report is work product stemming from our partnership with the Home Builder's Association of Alabama Foundation. About ACRE. ACRE was founded in 1996 by the Alabama Real Estate Commission, the Alabama Association of REALTORS and the Office of the Dean, UA Culverhouse College of Commerce. ACRE is not a state-funded entity, rather its operates in part because of the goodwill & generosity of our statewide ACRE Partners.
SOURCE; HAAR
Agent Advertising Remarks for ListHub Advertising Remarks are now appearing when entering or changing a listing. in the Huntsville AL MLS. There is some confusion regarding this new field. Below is an explanation of where the different Remarks fields appear: Agent Remarks: These remarks appear on any Agent Report option and are not viewable by anyone but NALMLS member agents. Customer/Public Remarks: These remarks appear on any Customer Report option and travel to Huntsville AL MLS www.valleymls.com, www.realtor.com, and all other Broker/Agent IDX sites. Agent Advertising Remarks: These homes of Huntsville remarks only travel on listings sent to ListHub. ListHub is a portal that distributes our Active Listings (IDX format) to over 90 third party advertising sites such as Zillow and Trulia. You are encouraged to enter your contact information at the beginning of these remarks and then complete with public remarks. WHY do we have this field? As you are aware, your contact information gets really buried on these sites, and agents that pay to advertise get their contact information displayed up front, thus you lose leads! Currently, of the 8000+ active listings in NALMLS, only 1122 active listing have advertising remarks filled in. We cannot start sending Advertising Remarks to ListHub until a reasonable amount of listings contain this field because remarks will be totally blank on these sites. Please take a few minutes and enter information on all of your active listings.
"RISK MANAGEMENT" AND "FORMS" CE CLASSES The following Continuing Education (CE) classes will be offered on Saturday, September 22nd: Risk Management (required)....3 hours of CE credit..9-12 am.....Instructor: Walt Hennessee Forms (elective).......................3 hours of CE credit..1-4 pm.......Instructor: Walt Hennessee There have been many requests to offer these classes during the week, so..... Risk Management (required) will be offered on Tuesday, Sept. 25th, from 5:30PM til 8:30PM, Forms will be offered on Thurs. 27th, from 5:30PM til 8:30PM. The classes will be held at the Rise School of Real Estate located at 3603 Memorial Pkwy SE, Huntsville, AL 35801 (Next to Robin Rents). Parking is available at the back of the building. Cost is $25 (cash or check) for each class....there is no charge for the fun we have. Space is limited, so call (256) 656-3325 to reserve your seat. If you do not want or need the CEs, you are welcome to attend either class at no charge. This is a good opportunity for new agents to be exposed the the Risks associated with our profession and the "tools of our trade", Forms.
SOURCE; ACRE
Homes of Huntsville; Alabama home sales during July 2012 up 3.6 percent from 2011. July new home sales in Alabama's five metro markets, representing approximately seventy percent of all statewide transactions, experienced a 17.5 percent decrease from the prior month. Sixty percent of metro areas have experienced YTD increase in new home sales compared to 2011 with Montgomery (up 24%) posting the best results followed by Tuscaloosa (18%) and Birmingham (15%). YTD new home sales have declined in Mobile (down 22%) and Huntsville (down 6%). Demand: In July, Alabama new home sales were outperformed by the US market which reflected an increase of 25.3 percent from July 2011 and up 3.6 percent from the prior month, according to the US Census Bureau & HUD. The release also reported that the results from the South region were up 9.7 percent from July 2011 but 1.6 percent down from last month. View full sizeAL YTD residential building permits up 4.1% from 2011. Infograph courtesy of ACRE. All rights reserved. Supply: Statewide new construction inventory has declined by approximately 13 percent from last July which is consistent with US trend (down 14%). All metro markets have experienced reductions in inventory since July 2011. Birmingham (down 19%), Mobile (-17%) and Huntsville (-9%) led the state in inventory reduction. Alabama's metro markets in July reflect 4.8 months of new home supply, an increase from 4.6 months of supply in July 2011 and down from 4.1 months from June 2012. According to the US Census Bureau, the US inventory of new homes for sale decreased to 142,000 homes or 4.6 months' supply, also a big improvement from 6.7 months of supply in July 2011 (down 31%). Pricing: Alabama's metro market's median new home sales price in July was $221,886, a decrease of 2.2 percent from last month and an increase of 2.4% when compared to July 2011. New Home Pipeline: July statewide housing starts decreased by 2.5 percent from the prior month and decreased 1.8 percent from July 2011. YTD housing starts are up 3.4%. July statewide building permits were down 3.4 percent from the prior month and 6.2 percent from July 2011. YTD building permits are up 4.1%. Residential Construction Employment: According to the Alabama Dept. of Industrial Relations, statewide residential construction employment was up 1.1 percent (700 jobs) to 61,400 from last month but remains down 6.9 percent or 4,600 workers from July 2011. Local Results: 9 out of the 27 home builder associations (33 - up from 30% in prior month) reported gains in building permits from the prior month (June 2012) while 9 associations (33% - down from 37%) reported gains in housing starts. As the market transitions into the third quarter of 2012, statistical volatility is anticipated. Real estate sales are seasonal and third quarter sales typically begin to gradually decline from the prior "sales peak" second quarter. Through July, seventy-two percent (18 of 25) of the local housing markets have experienced year-to-date (ytd) sales growth from 2011 and that is welcome news for Alabama consumers as well our state's real estate community. On the other hand, continued anemic US job creation/economic growth, strict underwriting standards, uncertainty of election (ie 2013 tax policy) and the global economic slowdown top the list of concerns that market watchers cite as elements that could possibly impact the fragile housing recovery. For other Alabama real estate resources & news, please visit our website and our ACRE blog. The ACRE New Construction Monthly Report is work product stemming from our partnership with the Home Builder's Association of Alabama Foundation. About ACRE. ACRE was founded in 1996 by the Alabama Real Estate Commission, the Alabama Association of REALTORS and the Office of the Dean, UA Culverhouse College of Commerce. ACRE is not a state-funded entity, rather its operates in part because of the goodwill & generosity of our statewide ACRE Partners.
SOURCE; HAAR
Agent Advertising Remarks for ListHub Advertising Remarks are now appearing when entering or changing a listing. in the Huntsville AL MLS. There is some confusion regarding this new field. Below is an explanation of where the different Remarks fields appear: Agent Remarks: These remarks appear on any Agent Report option and are not viewable by anyone but NALMLS member agents. Customer/Public Remarks: These remarks appear on any Customer Report option and travel to Huntsville AL MLS www.valleymls.com, www.realtor.com, and all other Broker/Agent IDX sites. Agent Advertising Remarks: These homes of Huntsville remarks only travel on listings sent to ListHub. ListHub is a portal that distributes our Active Listings (IDX format) to over 90 third party advertising sites such as Zillow and Trulia. You are encouraged to enter your contact information at the beginning of these remarks and then complete with public remarks. WHY do we have this field? As you are aware, your contact information gets really buried on these sites, and agents that pay to advertise get their contact information displayed up front, thus you lose leads! Currently, of the 8000+ active listings in NALMLS, only 1122 active listing have advertising remarks filled in. We cannot start sending Advertising Remarks to ListHub until a reasonable amount of listings contain this field because remarks will be totally blank on these sites. Please take a few minutes and enter information on all of your active listings.
"RISK MANAGEMENT" AND "FORMS" CE CLASSES The following Continuing Education (CE) classes will be offered on Saturday, September 22nd: Risk Management (required)....3 hours of CE credit..9-12 am.....Instructor: Walt Hennessee Forms (elective).......................3 hours of CE credit..1-4 pm.......Instructor: Walt Hennessee There have been many requests to offer these classes during the week, so..... Risk Management (required) will be offered on Tuesday, Sept. 25th, from 5:30PM til 8:30PM, Forms will be offered on Thurs. 27th, from 5:30PM til 8:30PM. The classes will be held at the Rise School of Real Estate located at 3603 Memorial Pkwy SE, Huntsville, AL 35801 (Next to Robin Rents). Parking is available at the back of the building. Cost is $25 (cash or check) for each class....there is no charge for the fun we have. Space is limited, so call (256) 656-3325 to reserve your seat. If you do not want or need the CEs, you are welcome to attend either class at no charge. This is a good opportunity for new agents to be exposed the the Risks associated with our profession and the "tools of our trade", Forms.
Huntsville Alabama Real Estate, Property Management
Rental homes of Huntsville property management Huntsville Alabama Real Estate, Property Management
Sunday, September 9, 2012
Homes of Huntsville; HUntsville AL MLS
Investment homes of Huntsville; In general my preference for investment property is single family homes that will rent in the $800 - $1300 range, located in neighborhoods with good schools and with consistent appreciation.
September 9th, 2012 8:54 PM
In general my preference for investment property is single family homes of huntsvillethat will rent in the $800 - $1300 range, located in neighborhoods with good schools and with consistent appreciation. While the cash flow of single family homes is not what multifamily properties advertise (often they cash flow on paper and in theory only) single family properties are much more liquid, have better appreciation and are much easier to manage.
The link below is to all the available multifamily properties in the Huntsville area. On a quick review, I see the same old properties that are usually posted but not selling. Most are in horrible areas where it is impossible to find decent tenants. The others are grossly overpriced. There are a few properties listed that we managed several years ago and dropped management of because it was so difficult to find decent tenants and the owners refused to maintain the properties. Most decent multifamily property either never reach the MLS or sell very quickly. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719206457 I do know of one unique multifamily property on Montesano Mountain, just east of our downtown and medical districts. It is not on the market but the owners would sell. We picked up management of the property three years ago. It has out of area owners and had been poorly managed by a local realtor for several years. There were serious maintanance issues and the rents were grossly under market levels. Over time we have taken care of the deferred maintenance and raised rents to market levels. We put the units on the market for sale last year and they went under contract in the remarkably short time of two weeks. The purchaser did his inspections and we waited for over 60 days for the appraisal. The appraiser used comparables from areas that were very bad, unsafe neighborhoods and not at all realistic comparisons. The appraisal came in extremely low. The buyers agent wanted us to drop the price to the appraised amount and became very angry when seller refused. The particular realtor that was representing the buyer has a very poor reputation for honest business practice and my belief is that she influenced the appraisal. The sellers were frustrated because we had taken the property off market for so long waiting on the purchaser and decided to wait until market conditions improved to re-list the property. The link below is to the old listing. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719206477 These are older units. We are adding central heat and air to one unit but the rest have wall heaters and widow air conditioners. The location is excellent, in a highly sought after area with excellent schools. If the property does interest you, we can provide more detail. The owners will probably take a good bit less than the list price. Right now Huntsville is still in a decidedly buyers market. There is far too much available inventory and some builders are struggling. I am aware do a few builders that have gone out of business. Our market is however showing signs of recovery and as the 4,700 projected new military jobs begin to be filled starting this spring and summer, our market will become more balanced. Since you have the wherewithal to pay cash for properties, you will be at a distinct additional advantage in negotiations. Once you acquire properties, you might consider taking out mortgages on them and reinvesting the loan proceeds into additional properties. Financing costs and lender requirements on "refinance" loans are much less than that of acquisition loans. Leveraging is a powerful wealth building tool. As mentioned in my first email, Madison followed by select areas of west Huntsville and northeast Madison County are my favorite areas to direct investors.Since you are just starting to get your bearings in the Huntsville real estate market, a review of areas to consider might be in order. Prospective tenants (and prospective buyers on an eventual resale) will consider the commute time to their work, the quality of the schools and then the quality of the neighborhood and the amenities of the specific property. Most of our area's larger employers that will grow from the incoming jobs with BRAC, are located on Redstone Arsenal in the southwest quadrant of Huntsville and immediately to the north of Redstone Arsenal in Cummings Research Park. Just west of Redstone Arsenal is the Huntsville International Airport. There are a few employers with campuses adjacent to the airport. The airport has two runways, both aligned south to north so properties in the flight path should be avoided.
Areas that are close to this concentration of employers are Madison and parts of west Huntsville. There are neighborhoods located in the city of Huntsville just west of Redstone Arsenal that have very good long term growth records and future growth potential. There is a lot of growth in this area of upscale homes. The schools in the area had seen some decline but there is a new school in the final stages of construction that will serve the area. I have spoken with parents of children who attend the school and they are happy with it. Another area I like is close-in northeast Madison County. I-565 goes to the edge of Huntsville to this area. There are plans to extend the interstate another 3 miles, eliminating traffic lights that are now at the end of the interstate. There are also plans for a large shopping, restaurant and entertainment complex at the edge if the city near the interstate. Site preparation had already been done for the complex when the economy took a downturn and the construction projects were delayed. The schools are good in this area and there is a lot of residential and retail growth. Commutes are moderate. The area also has a natural beauty with open space, mountains, rivers and lakes. Our family moved from the city two years ago to this area and we have been very pleased with the area.
The link below is to available properties in the Huntsville AL MLS in Madison that might be prospects. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719206509 Using the Collinwood neighborhood as an example again. The link below is to recent Huntsville AL MLS rental data. All of the properties are managed by our firm. You will see that rents are in the $1,100 to $1,250 range. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719213240 The link below is to Homes of Huntsville for sale in the area just west of Redstone Arsenal. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719213614 The link below is to candidate properties in northeast Madison County. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719213632 If you are at the point of being ready to focus in on a particular area or price range please let me know. I can start to send properties for you to review. Once we start to focus in on a particular property we will provide a market analysis, listing history and estimated rental values. We can make an onsite visit and provide our impressions of the and forward additional, detailed photos. Will you be able to make visit to view the properties? If you like, we can provide references of out of state investor clients. We have several on the west coast and one who is still in Hawaii I believe .
On 114 BURWELLSPRING; Here are the comps. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718964979 The average sold price was $87 psf with a range of $83 to almost $90 psf. The average days on market was very high for our market at 198 days. Part of the high DOM might be new construction posted at the start of construction. At the average sold price of $87 psf you house would be at around $154,000. At a sale of $154,000 and assuming standard broker fees, costs, a possible $1,500 seller contribution to purchaser closing costs and a possible $500 in repairs after home inspection, you would net around $142,000. This assumes your taxes are escrowed.
Saturday, September 8, 2012
Homes of Huntsville; Homestead
Homes of Huntsville; Where to file homestead
Saturday, September 08 · Edit
Homes of Huntsville; Where to claim homestead exemption September 8th, 2012 5:10 PM
I'm surprised your closing attorney of agent didn't cover this but you can take your deed to the courthouse or an annex to file for homestead exemption. From your house the courthouse would be the closest. If there is not a parking spot on the square park in the lower level of the parking garage on the southwest corner of the square. The entrance is on Fountain Circle just under where the red car is parked at the link below. Park at a meter and enter the courthouse on the west side. The officer at the metal detector will direct you to the license department. If there is a line walk past it. (The link will be for car tag renewals.) Once in the department present you deed, sign a form and you are done. I saw in the MLS you closed in April so you should have your deed by now. https://maps.google.com/maps?q=courthouse+square,+huntsville,+al+35801&hl=en&ll=34.728901,-86.585532&spn=0.001312,0.002637&hq=courthouse+square,&hnear=Huntsville,+Alabama+35801&t=h&z=19 There is also an annex at the Parkway City Mall at the back side on the north end downstairs. It's tucked away in a corner and hard to find.
I hope this helps. Many of my clients like to keep up with Huntsville AL MLS activity in their neighborhood. I set up a notification for you of any new listings / sales or changes to existing listings. If you prefer not to receive the updates, just unsubscribe at the link at the bottom of each email.
The link below is to a summary of all Huntsville AL MLS activity in the neighborhood since 09/01/11. The average sold price was $70 per square foot so it looks like you got a great deal on your Homes of Huntsville purchase. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116335019
I also like to review early loan payoff on your homes of Huntsville and how to save thousands of dollars in mortgage interest with my clients. You should have received a loan amortization with your loan package. Take a look at it. The first 15 years of your loan most of the monthly payment goes towards interest. The first five years it's almost all interest. If you can make any additional payment it's the best return you can get of anything you can do with your money.
Homes of Huntsville; Where to file homestead. Homes of Huntsville; Where to file homestead.
homes of huntsville; huntsville al mls market comparables
Homes of Huntsville; Huntsville AL MLS market comparables (Homes of Huntsville; Market value comparables
September 8th, 2012 11:59 AM
There was not a listing of the house.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7111536261
The link below is to Huntsville AL MLS activity in the neighborhood since 06/01/09.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7111536306
There are 14 active listings and 3 contingent sales. There were 14 sales at an average $96 per square foot with a range of $85 to $102 psf. The average days on market were moderate at 70 days and a range of 10 to 205 days.
While the large number of active listings is a concern, the numbers certainly look better.
The active listings and comparable sales of homes of Huntsville are owner occupied. They will be easy to show and the owner-occupants and builders are motivated to make the homes as attractive as possible. Keeping them staged, clutter to a minimum and spotlessly clean. With a tenant occupied house, the tenant may not be motivated to keep the property in pristine showing condition and in some cases doesn't want to move. Also, Alabama state law requires the tenant's permission to enter a rented home except in the case of emergency. If the tenant doesn't give permission to enter the property the landlord must post a two-day notice on the home's door, giving the date and time that the landlord or prospective buyer will be at the property. It has been my experience that buyer's and buyer's agents rarely schedule showings two days in advance. Properties on the market must be readily available for showings on short notice. I have even had tenants refuse entry into the property after I posted the two-day notice and was standing at the front door with buyers at my back. According to our attorney, we had no recourse.
While I don't have the number of active investor clients as three years ago, I do know of a couple of investors who might consider purchasing with a tenant in place.
The house might need some freshening up prior to going on market. Landscaping, interior paint, carpet cleaning and possibly replacement are all standard items to consider when putting any homes of Huntsville on the market.
The link below is to the other homes listed for for $184,900 / $96 psf.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7111536323
The link below is to Huntsville AL MLS activity in the neighborhood since 06/01/09.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7111536329
The sold data doesn't look as good as Fawn Forest with an average sold price of $71 psf but with a wider range of $49 to $95 psf. The pending average looks better at $94 psf but a range of $87 to $99 psf. Keep in mind that these were the list prices, we wont know the contract price until after closing. Looking at the prices on the active listings is not encouraging.
September 8th, 2012 11:59 AM
There was not a listing of the house.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7111536261
The link below is to Huntsville AL MLS activity in the neighborhood since 06/01/09.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7111536306
There are 14 active listings and 3 contingent sales. There were 14 sales at an average $96 per square foot with a range of $85 to $102 psf. The average days on market were moderate at 70 days and a range of 10 to 205 days.
While the large number of active listings is a concern, the numbers certainly look better.
The active listings and comparable sales of homes of Huntsville are owner occupied. They will be easy to show and the owner-occupants and builders are motivated to make the homes as attractive as possible. Keeping them staged, clutter to a minimum and spotlessly clean. With a tenant occupied house, the tenant may not be motivated to keep the property in pristine showing condition and in some cases doesn't want to move. Also, Alabama state law requires the tenant's permission to enter a rented home except in the case of emergency. If the tenant doesn't give permission to enter the property the landlord must post a two-day notice on the home's door, giving the date and time that the landlord or prospective buyer will be at the property. It has been my experience that buyer's and buyer's agents rarely schedule showings two days in advance. Properties on the market must be readily available for showings on short notice. I have even had tenants refuse entry into the property after I posted the two-day notice and was standing at the front door with buyers at my back. According to our attorney, we had no recourse.
While I don't have the number of active investor clients as three years ago, I do know of a couple of investors who might consider purchasing with a tenant in place.
The house might need some freshening up prior to going on market. Landscaping, interior paint, carpet cleaning and possibly replacement are all standard items to consider when putting any homes of Huntsville on the market.
The link below is to the other homes listed for for $184,900 / $96 psf.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7111536323
The link below is to Huntsville AL MLS activity in the neighborhood since 06/01/09.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7111536329
The sold data doesn't look as good as Fawn Forest with an average sold price of $71 psf but with a wider range of $49 to $95 psf. The pending average looks better at $94 psf but a range of $87 to $99 psf. Keep in mind that these were the list prices, we wont know the contract price until after closing. Looking at the prices on the active listings is not encouraging.
Homes of Huntsville, Huntsville AL MLS
Investment homes of Huntsville; Huntsville AL MLS research
Homes of Huntsville; Huntsville AL MLS Source You Magazine
You may have heard rumblings in the news lately about something called Quantitative Easing, or QE3 for short. If you're in the market to buy or refinance a home, this is one story to follow. Read on to learn why.
What is Quantitative Easing?Quantitative Easing is the concept of the Fed becoming a buyer of Treasuries and Bonds to try and stimulate the economy. Oftentimes, the Fed does Quantitative Easing when they are hoping to achieve the following things:
To create inflation and avoid a deflationary economy
To lower the unemployment rate
To boost Stock prices
Keep in mind that one of the consequences of Quantitative Easing is that the US Dollar will weaken. This makes US exports more affordable abroad, as well as makes imports appear relatively more expensive. This will help large multi-national companies???which have a large influence on the economy and the major Stock market indices???thus stimulating our economy and hopefully our Labor Market, which continues to struggle.
What Happened During the Last Round of Quantitative Easing (QE2)?It's important to understand that home loan rates are tied to Mortgage Bonds, and when Bonds improve, home loan rates typically move lower. History has shown that Bonds and home loan rates typically improve in anticipation of Quantitative Easing, but then worsen once the official announcement is made. Think about the old investing adage: "Buy on the rumor, and sell on the news."
In a speech delivered on August 27, 2010 in Jackson Hole, Wyoming, Fed Chairmen Ben Bernanke mentioned that QE2 may be coming, saying, "I believe that additional purchases of longer-term securities, should the FOMC choose to undertake them, would be effective in further easing financial conditions." But the Fed didn't take action and begin QE2 until November of that year. Bonds and home loan rates enjoyed a nice rally until the actual official announcement was made.
However, once QE2 officially began in November 2010, we saw a big move higher in Stocks. By the time QE2 concluded in June 2011, the S&P 500 had risen 19%. And when investors moved their money into Stocks during this time, Bonds and home loan rates suffered as a result.
The Bottom LineOn August 31st of this year, Bernanke was back in Jackson Hole, Wyoming delivering another Economic Outlook and Monetary Policy. While he did not commit to another round of Quantitative Easing or QE3, he hinted that one was possible.
If rumors of QE3 continue to swirl, we should continue to see great home loan rates leading up to any actual announcement.
But if the Fed decides to move forward with QE3 and Stocks rally like they did during QE2, the Stock rally could come at the expense of the Bond markets???which would in turn push home loan rates higher.
The great news is that home loan rates remain near historic lows, making now a great time to purchase or refinance a home. If you have any questions about your personal situation, or if you're wondering how you can take advantage of today's low rates, contact the person who supplied you with this month's issue of YOU Magazine. Homes of Huntsville; Huntsville AL MLS Source Gary Thomas, 2012 NAR President-Elect
Last week, I had the opportunity to attend the Republican National Convention along with 2012 NAR Treasurer Bill Armstrong and 2012 Vice President and Liaison to Government Affairs Scott Louser in Tampa, Florida. While everyone was nervous about Hurricane Isaac hitting during the convention, it didn???t dampen the enthusiasm for our message that Homeownership Matters to America!
The convention was an outstanding opportunity for REALTORS?? to meet and talk with GOP elected-officials and candidates about the important role that real estate plays in our economy.
We also saw how important it is for REALTORS?? to get involved in the political process. The week before the convention when the platform was being drafted, the committee overlooked including language about protecting the mortgage interest deduction (MID). Shirley Wiseman and April Newland, both REALTORS?? who were on the platform committee, for language that explicitly puts Republicans on record pledging protection of the MID, although it first gives a nod to the party???s priority to seek comprehensive tax reform. If that doesn???t pass, protecting the MID is paramount. It is an excellent example of REALTORS?? being at the right place at the right time.
The Real Estate Roundtable also hosted a panel discussion on the importance of a strong real estate market to creating a robust economic recovery. There were representatives from commercial, hospitality, multifamily, and architects to make the case. I had the opportunity to represent REALTORS??. Homes of Huntsville Our good friend and former REALTOR??, Senator Johnny Isakson was also a member of the panel. We talked about the importance of maintaining federal incentives for homeownership and ensuring that market-stifling high down payments are not the result of a narrow definition of provisions in the Dodd-Frank law. Huntsville AL MLS We all advocated for a broad definition of these provision, just as Congress intended. Senator Isakson was outstanding on the issue since he was involved in writing the language. The Real Estate Round Table will sponsor the same panel at the DNC convention, and 2012 NAR First Vice President Steve Brown will be representing REALTORS??. If you have a chance, Overall it was a remarkable experience, and I was proud to see our REALTOR?? involvement pay off at such a crucial moment.
Gary Thomas, 2012 NAR President-Elect
54 Responses to REALTOR?? Party Storms Grand Old Party huntsville al mls, Homes of Huntsville
The ???Grand-ol-Gop??? has a habit of feathering their own nest, ( and the ones who tag along with them ) without much regard for much of anything/anyone else.
Taxes are too complicated. It???s easy to get lost in the tax deduction trap. Let???s see???.You pay the govenment $1 in taxes and they give you 25 cents back as a deduction? Sounds like a good deal for the government. They gain 75 cents every time and you lose 75 cents every time.
Why would you need any deduction if there was NO tax in the first place? Now that???s TAX reform!
As I read this post, what jumped out to me was exactly the concern noted by Dick ??? Sep 5 ??? I really am starting to wonder what is the GOP ???vision??? for the future of this country. I beginning to suspect there is no ???vision??? ??? just mantra ??? (1) no tax and (2) no government ??? except to dictate to females.
Carl Halessays:
I personally think the importance of MID is very much overblown. First, there are many home buyers who do not pay any income taxes; secondly the difference in what they would pay without the deduction is not that great except for the very high income individuals. Most decisipons to buy are NOT based on MID>
Tags: homes of huntsville; huntsville al mls
Homes of Huntsville; Huntsville AL MLS Source You Magazine
You may have heard rumblings in the news lately about something called Quantitative Easing, or QE3 for short. If you're in the market to buy or refinance a home, this is one story to follow. Read on to learn why.
What is Quantitative Easing?Quantitative Easing is the concept of the Fed becoming a buyer of Treasuries and Bonds to try and stimulate the economy. Oftentimes, the Fed does Quantitative Easing when they are hoping to achieve the following things:
To create inflation and avoid a deflationary economy
To lower the unemployment rate
To boost Stock prices
Keep in mind that one of the consequences of Quantitative Easing is that the US Dollar will weaken. This makes US exports more affordable abroad, as well as makes imports appear relatively more expensive. This will help large multi-national companies???which have a large influence on the economy and the major Stock market indices???thus stimulating our economy and hopefully our Labor Market, which continues to struggle.
What Happened During the Last Round of Quantitative Easing (QE2)?It's important to understand that home loan rates are tied to Mortgage Bonds, and when Bonds improve, home loan rates typically move lower. History has shown that Bonds and home loan rates typically improve in anticipation of Quantitative Easing, but then worsen once the official announcement is made. Think about the old investing adage: "Buy on the rumor, and sell on the news."
In a speech delivered on August 27, 2010 in Jackson Hole, Wyoming, Fed Chairmen Ben Bernanke mentioned that QE2 may be coming, saying, "I believe that additional purchases of longer-term securities, should the FOMC choose to undertake them, would be effective in further easing financial conditions." But the Fed didn't take action and begin QE2 until November of that year. Bonds and home loan rates enjoyed a nice rally until the actual official announcement was made.
However, once QE2 officially began in November 2010, we saw a big move higher in Stocks. By the time QE2 concluded in June 2011, the S&P 500 had risen 19%. And when investors moved their money into Stocks during this time, Bonds and home loan rates suffered as a result.
The Bottom LineOn August 31st of this year, Bernanke was back in Jackson Hole, Wyoming delivering another Economic Outlook and Monetary Policy. While he did not commit to another round of Quantitative Easing or QE3, he hinted that one was possible.
If rumors of QE3 continue to swirl, we should continue to see great home loan rates leading up to any actual announcement.
But if the Fed decides to move forward with QE3 and Stocks rally like they did during QE2, the Stock rally could come at the expense of the Bond markets???which would in turn push home loan rates higher.
The great news is that home loan rates remain near historic lows, making now a great time to purchase or refinance a home. If you have any questions about your personal situation, or if you're wondering how you can take advantage of today's low rates, contact the person who supplied you with this month's issue of YOU Magazine. Homes of Huntsville; Huntsville AL MLS Source Gary Thomas, 2012 NAR President-Elect
Last week, I had the opportunity to attend the Republican National Convention along with 2012 NAR Treasurer Bill Armstrong and 2012 Vice President and Liaison to Government Affairs Scott Louser in Tampa, Florida. While everyone was nervous about Hurricane Isaac hitting during the convention, it didn???t dampen the enthusiasm for our message that Homeownership Matters to America!
The convention was an outstanding opportunity for REALTORS?? to meet and talk with GOP elected-officials and candidates about the important role that real estate plays in our economy.
We also saw how important it is for REALTORS?? to get involved in the political process. The week before the convention when the platform was being drafted, the committee overlooked including language about protecting the mortgage interest deduction (MID). Shirley Wiseman and April Newland, both REALTORS?? who were on the platform committee, for language that explicitly puts Republicans on record pledging protection of the MID, although it first gives a nod to the party???s priority to seek comprehensive tax reform. If that doesn???t pass, protecting the MID is paramount. It is an excellent example of REALTORS?? being at the right place at the right time.
The Real Estate Roundtable also hosted a panel discussion on the importance of a strong real estate market to creating a robust economic recovery. There were representatives from commercial, hospitality, multifamily, and architects to make the case. I had the opportunity to represent REALTORS??. Homes of Huntsville Our good friend and former REALTOR??, Senator Johnny Isakson was also a member of the panel. We talked about the importance of maintaining federal incentives for homeownership and ensuring that market-stifling high down payments are not the result of a narrow definition of provisions in the Dodd-Frank law. Huntsville AL MLS We all advocated for a broad definition of these provision, just as Congress intended. Senator Isakson was outstanding on the issue since he was involved in writing the language. The Real Estate Round Table will sponsor the same panel at the DNC convention, and 2012 NAR First Vice President Steve Brown will be representing REALTORS??. If you have a chance, Overall it was a remarkable experience, and I was proud to see our REALTOR?? involvement pay off at such a crucial moment.
Gary Thomas, 2012 NAR President-Elect
54 Responses to REALTOR?? Party Storms Grand Old Party huntsville al mls, Homes of Huntsville
The ???Grand-ol-Gop??? has a habit of feathering their own nest, ( and the ones who tag along with them ) without much regard for much of anything/anyone else.
Taxes are too complicated. It???s easy to get lost in the tax deduction trap. Let???s see???.You pay the govenment $1 in taxes and they give you 25 cents back as a deduction? Sounds like a good deal for the government. They gain 75 cents every time and you lose 75 cents every time.
Why would you need any deduction if there was NO tax in the first place? Now that???s TAX reform!
As I read this post, what jumped out to me was exactly the concern noted by Dick ??? Sep 5 ??? I really am starting to wonder what is the GOP ???vision??? for the future of this country. I beginning to suspect there is no ???vision??? ??? just mantra ??? (1) no tax and (2) no government ??? except to dictate to females.
Carl Halessays:
I personally think the importance of MID is very much overblown. First, there are many home buyers who do not pay any income taxes; secondly the difference in what they would pay without the deduction is not that great except for the very high income individuals. Most decisipons to buy are NOT based on MID>
Tags: homes of huntsville; huntsville al mls
Wednesday, September 5, 2012
Homes of huntsville; Huntsville AL mls
Homes of Huntsville; we generally don't see a substantial increase in sales price on homes with pools verses those that don't
September 5th, 2012 1:30 PM
The square footage of the house you asked about at the link below is 2,583. (Note the third section of the Huntsville AL MLS listing at the left hand side.) It is listed as 11 - 15 years old. ( Last section of the listing at the top left.) http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116318196 The link below is to the Google satellite image and interactive street view. https://maps.google.com/maps?q=112+RADISSON+LANE,+MADISON,+AL+35758&hl=en&ll=34.7446,-86.752451&spn=0.000359,0.000659&hnear=112+Radisson+Ln,+Madison,+Alabama+35758&t=h&z=21
The links below are to data on the schools that server the home; http://www.schooldigger.com/go/AL/schools/0000802097/school.aspx http://www.schooldigger.com/go/AL/schools/0000801798/school.aspx http://www.schooldigger.com/go/AL/schools/0000800831/school.aspx This cycle the house has been on market since 06/07/12. There have been three price reductions. The seller listed the house for sale in 2009 - 2010 as well at $254,900. The link below is to the archived listing where the owner purchased the house in 2004 at $208,700 with his seller paying $3,000 of his closing. Assuming normal fees, transaction costs and a $3,000 seller contribution to purchaser closing costs, seller's break even point on a sale is in the $212,000 range. The house is occupied. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116318205 The house is listed at $83 per square foot. They link below is to a summary of Huntsville AL MLS activity of homes of huntsville in the neighborhood since 09/01/11. Of the two sales, the average sold price was $88 per square foot. Note that both of the sales were of smaller one story homes. Larger and two story homes in teh same neighborhood will trend a lower per square foot sales price than smaller one story homes. While the homes does have a pool, we generally don't see a substantial increase in sales price on homes with pools verses those that don't. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116318214
Tuesday, September 4, 2012
Homes of huntsville, bank owned homes
Homes of Huntsville; It doesn't make sense for BOA to just leave a house empty but they are one of the worst lenders to get a response from.
September 4th, 2012 9:10 PM
I was able to find some old listings in the Huntsville AL MLS for 100 Lisa Ann at the link below. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116312390 Looking in the Madison County Tax records I couldn't find a 100 Lisa Michelle but did find 100 Lisa Ann, The records at the link below show GARY DEGISO as the owner.
On 7/19/06 Mr. DEGISO took out a first and second mortgage for $89,200 and $16,725 for a total of $105,925. In 2006 it was possible to purchase with no money down using a first and second mortgage. http://probate.co.madison.al.us/LoadImage.aspx?sk=20060719000478870&format=PDF&ref=a642e1e8-fe6e-41eb-bc01-cbf20a0c8549 http://probate.co.madison.al.us/LoadImage.aspx?sk=20060719000478860&format=PDF&ref=a642e1e8-fe6e-41eb-bc01-cbf20a0c8549 Countrywide Mortgage was purchased by Bank of America. I have attempted to contact Bank of America before about foreclosed homes that they own. Their response has always been that we would have to wait until the house is listed for sale with one of their approved realtors. The said that once they are ready to list a house for sale, the listing would be randomly placed with one of their preferred realtors. I went through the application process to become one of their preferred realtors but never received a response. All we can do on this property is wait. Eventually BOA will put it on the market for sale but it could be months. I know it doesn't make sense for BOA to just leave a house empty but they are one of the worst lenders to get a response from. I couple of years ago I had a buyer that wanted to make an offer on one of their bank owned homes. I spent several days, talked to several people and they didn't even have a record of it in their system.
Huntsville homes for sale - Huntsville Alabama MLS search, Homes of Huntsville Automated Real Estate Search, HomeValue and Real Estate Market Updates, Huntsville Alabama area Rental Homes, Property Management.
Saturday, September 1, 2012
Homes of huntsville, huntsville al mls
Homes of Huntsville; Huntsville MLS research
September 1st, 2012 3:40 PM
The link below is to a summary of all Huntsville AL MLS activity in the neighborhood since 08/01/11. It does include frame homes in the older part of the neighborhood that aren't the best comparison. All three of the sales were of the older frame homes. The average sold price was $95 per square foot with a range of $52 to $94 per square foot. There are two pending sales; 110 MOLLY BETTE DRIVE is an older house and was listed at $44 per square foot. It went on the market on 05/03/12 and went under contract in just four days on 05/07/12. The house wasn't a foreclosure. Even if it was in poor condition, someone got a great deal. 120 LISA MICHELLE DRIVE is a better comparison, it was listed at $98 per square foot. We won't know the sales price on these houses until after closing. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7122216306078
The link below is to the listing where the current owner bought the house in 2009 for $124,000 / $93 per square foot. His break even point on a sale assuming he paid $3,000 of a purchaser's closing costs would be in the $133,000 / $99 per square foot range. While the owner may have an interest in selling,
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=711632358406091
The link below is to all the 3+ bedroom 2+ bath listings of homes of Huntsville I could find in south Huntsville from $80,000 to $110,000. There were several listings in SANDHURST PARK, AUTUMN RIDGE and GREEN COVE MEADOWS. Some homes in these three adjacent neighborhoods are well maintained but others are not. It's hard to say if the the neighborhood is in decline or not. As best I can tell it's a relatively stable neighborhood considering what real estate in general has been doing.
Click on the photos for more pictures and on the address' for a map of the approximate location. At the top right of the map, click in hybrid for a satellite image. (The icon may not be on the exact house.)
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=71163060925845846
The Huntsville homes for sale at 110 CAMERON ROAD and 11223 SUN CREST DRIVE caught my eye. We Would have to be VERY cautious on The home at 11223 SUN CREST DRIVE, the sloped lot and hillside location will make it prone to foundation and water runoff problems as well as elevated radon levels.
110 CAMERON ROAD is a bank owned house and has been on the market since just 08/29/12. The link below is to the listing where is sold in 2002 for $117,000.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116306112584573
The link below is to a summary of MLS activity in the neighborhood, HAYS LAND ESTATES since 08/01/11. At $45 per square foot the house seems to be aggressively priced.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=711630611268545
The link below is to the Google satellite image and street view of the house. Zoom out a bit and you can see it's about 500' from Memorial Parkway and on the main entry to the neighborhood. Its located behind Mikes Merchandise and Haysland Square shopping center with just one house in-between. There will be some traffic on the street and traffic noise from the Parkway.
https://maps.google.com/maps?q=110+CAMERON+ROAD,+HUNTSVILLE,+AL+35802&hl=en&ll=34.65013,-86.569553&spn=0.000509,0.001318&hnear=110+Cameron+Rd+SW,+Huntsville,+Alabama+35802&t=h&z=20
11223 SUN CREST DRIVE has been on the market since 04/26/12. It was listed at $129,800 originally and has had two price reductions to the present $89,900. The link below is to the listing where the current owner bought the house as a foreclosure at $54,000 / $33 per square foot on 12/16/2011. From just the photos it's hard to tell but it doesn't look like the seller did anything to the interior since his purchase. The patio with curbs does look new and was probably build for rainwater diversion. Again we would need to be vary careful to have the house inspected for foundation problems and elevated radon.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=711630610258458
The link below is to the Google street view of the house.
https://maps.google.com/maps?q=11223+SUNCREST+DRIVE,+HUNTSVILLE,+AL+35803&hl=en&ll=34.635847,-86.555585&spn=0.000004,0.002637&hnear=11223+Suncrest+Dr+SE,+Huntsville,+Madison,+Alabama+35803&t=h&z=19&layer=c&cbll=34.635824,-86.55562&panoid=C2Qby6TfoWj1OIw1tOiZ6w&cbp=12,73.63,,0,0
The link below is to the Google satellite image. The house is across the street from the A icon.
https://maps.google.com/maps?q=11223+SUNCREST+DRIVE,+HUNTSVILLE,+AL+35803&hl=en&ll=34.635865,-86.555614&spn=0.001017,0.002637&sll=34.635823,-86.55562&sspn=0.001026,0.002637&t=h&hnear=11223+Suncrest+Dr+SE,+Huntsville,+Madison,+Alabama+35803&z=19
116078
The link below is to the listing where the current owner bought the house in 2009 for $124,000 / $93 per square foot. His break even point on a sale assuming he paid $3,000 of a purchaser's closing costs would be in the $133,000 / $99 per square foot range. While the owner may have an interest in selling, I don't think he would be willing to take a loss. I will let you know what he says. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=711630235846091 The link below is to all the 3+ bedroom 2+ bath listings I could find in south Huntsville from $80,000 to $110,000. There were several listings in SANDHURST PARK, AUTUMN RIDGE and GREEN COVE MEADOWS. Some homes in these three adjacent neighborhoods are well maintained but others are not. It's hard to say if the the neighborhood is in decline or not. As best I can tell it's a relatively stable neighborhood considering what real estate in general has been doing. Click on the photos for more pictures and on the address' for a map of the approximate location. At the top right of the map, click in hybrid for a satellite image. (The icon may not be on the exact house.) http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=71163235806096 The homes at 110 CAMERON ROAD and 11223 SUN CREST DRIVE caught my eye. We Would have to be VERY cautious on The home at 11223 SUN CREST DRIVE, the sloped lot and hillside location will make it prone to foundation and water runoff problems as well as elevated radon levels. 110 CAMERON ROAD is a bank owned house and has been on the market since just 08/29/12. The link below is to the listing where is sold in 2002 for $117,000. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116306113 The link below is to a summary of MLS activity in the neighborhood, HAYS LAND ESTATES since 08/01/11. At $45 per square foot the house seems to be aggressively priced. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116323506115 The link below is to the Google satellite image and street view of the house. Zoom out a bit and you can see it's about 500' from Memorial Parkway and on the main entry to the neighborhood. Its located behind Mikes Merchandise and Haysland Square shopping center with just one house in-between. There will be some traffic on the street and traffic noise from the Parkway. https://maps.google.com/maps?q=110+CAMERON+ROAD,+HUNTSVILLE,+AL+35802&hl=en&ll=34.65013,-86.569553&spn=0.000509,0.001318&hnear=110+Cameron+Rd+SW,+Huntsville,+Alabama+35802&t=h&z=20 11223 SUN CREST DRIVE has been on the market since 04/26/12. It was listed at $129,800 originally and has had two price reductions to the present $89,900. The link below is to the listing where the current owner bought the house as a foreclosure at $54,000 / $33 per square foot on 12/16/2011. From just the photos it's hard to tell but it doesn't look like the seller did anything to the interior since his purchase. The patio with curbs does look new and was probably build for rainwater diversion. Again we would need to be vary careful to have the house inspected for foundation problems and elevated radon. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116235306108 The link below is to the Google street view of the house. https://maps.google.com/maps?q=11223+SUNCREST+DRIVE,+HUNTSVILLE,+AL+35803&hl=en&ll=34.635847,-86.555585&spn=0.000004,0.002637&hnear=11223+Suncrest+Dr+SE,+Huntsville,+Madison,+Alabama+35803&t=h&z=19&layer=c&cbll=34.635824,-86.55562&panoid=C2Qby6TfoWj1OIw1tOiZ6w&cbp=12,73.63,,0,0 The link below is to the Google satellite image. The house is across the street from the A icon. https://maps.google.com/maps?q=11223+SUNCREST+DRIVE,+HUNTSVILLE,+AL+35803&hl=en&ll=34.635865,-86.555614&spn=0.001017,0.002637&sll=34.635823,-86.55562&sspn=0.001026,0.002637&t=h&hnear=11223+Suncrest+Dr+SE,+Huntsville,+Madison,+Alabama+35803&z=19
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