Thursday, August 30, 2012
Homes of Huntsville, Huntsville AL MLS
Homes of Huntsville: While I like the Wheeler area for future growth, the schools and traffic are points of concern
August 30th, 2012 3:00 PM
While I like the Wheeler area for future growth, the schools and traffic are points of concern. If I was looking for a house to live in and had k - 8 children I would look elsewhere. As a long term investment the area should be fine. It will however take a year or two for the schools to improve and for the road improvements. In 2003 - 2004 James Williams Elementary lost a great, long term principle and the school began to decline. The Huntsville school system also hired the school system superintendent that was replaced last year. This previous superintendant was a horrible failure. The school system went into debt and test scores in many schools dropped. Last year the city hired Casey Wardynski as the new superintendant. He found some serious problems in the system including fraud and nepotism. After firing a lot of personnel the school system now has a multi-million dollar surplus. While some area schools will never be good, the Wheeler area is experiencing so much growth of upscale homes I believe that the schools will eventually become some of the better in Huntsville. I pointed out the Zeona house as a possible candidate after a search of the MLS didn't turn up any other candidates. I think the price and cash flow are decent and the long term prospects are good. Given time and patience I'm certain we can do better. We are working another offer on the house and appear to be close on an agreement. The link below is to an old listing of the house. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116290318 The link below is to the correct satellite image of the house. If it is a candidate for you We will get fresh photos of the house, neighborhood and area. We will also do a more through research for you. https://maps.google.com/maps?q=242+DE+JAN+ROAD,+MADISON,+AL+35758&hl=en&ll=34.740661,-86.783645&spn=0.000762,0.001318&hnear=242+De+Jan+Rd,+Madison,+Alabama+35758&t=h&z=20 We have had the house as a rental since 07/05/06 and it has been a stable rental for us. It usually rents pretty quickly at $1,195. The link below is to a summary of Huntsville AL MLS activity of all one story homes in the neighborhood in the past year. ( There are a few much larger two story homes in the neighborhood where the price per square foot trends lower. ) The average sold price was $94 per square foot with a range of $84 to $100 per square foot. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116290427 The link below is to the full listings for better comparison. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116290433 The $100 per square foot sale at 211 DE JAN ROAD was new construction and not a good comparison. The $84 per square foot sale at 109 AUTUMN HAVEN LANE is a much larger home at 2,270 square feet compared to the subject's 1,595 square foot. The price per square foot on larger homes will trend lower than smaller homes in the same neighborhood. We have several homes of Huntsville rentals in the neighborhood that perform well. County Line Road on the west of the neighborhood is a four lane traffic artery that goes south to Madison Boulevard / Highway 20. There is a westbound exit onto I 565 and plans to build an eastbound ramp. Commutes are easy especially for Madison which has areas of congestion. There is shopping nearby and the schools are good. 106 ACACIA TRAIL DRIVE is priced pretty well for the neighborhood is empty and has been on the market for a long time. I like the location but the lots are very small, more like a garden home. There are rail road tracks about a half mile to the south and than some lower end multi-family properties. I'm not overly excited about this one but I think there is some potential for a good buy. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116290492 https://maps.google.com/maps?q=106+ACACIA+TRAIL+DRIVE,+MADISON,+AL+35758&hl=en&ll=34.703734,-86.721429&spn=0.00305,0.005273&hnear=106+Acacia+Trail+Dr,+Madison,+Alabama+35758&t=h&z=18 116 BOSTON HARBOUR WAY is located just northeast of the De Jan property. It seems well priced for the neighborhood and the listing indicates it is unoccupied. It's been on the market a long time and shows as having been rented last year at $1,099. It might be possible to negotiate hard on this house. The owner paid $190,000 for it in 2005. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116290496 122 GREEN SPRINGS DRIVE is an older home and a foreclosure. It's not a full brick home so maintenance costs will be higher. All if the bedrooms are upstairs which will be unattractive to older tenants or families with small children. It has been on the market since 08/07/12. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116294924 At $61 per square foot the house is priced substantially below the average neighborhood sold price of $80 per square foot just below the lowest sold price of $62 per square foot. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116294927 We have two rentals in the neighborhood that have been consistent performers. Based on the quick rental comparables below we could probably expect rents in the $1,195 range depending on the season. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116294928
Huntsville AL MLS Acess the Huntsville MLS Valley MLS to search for every available property without having to register. Request an automated search to recive notification of new listings. http://www.huntsville-homes.com/Valley-MLS-Search-Yourself
Wednesday, August 29, 2012
Homes of huntsville
inShare
Homes of Huntsville investors/ property management / relocating (Draft) (edit/delete)
Market recovery driven by investors;Investors are buying homes at a more rapid pace than ever before, and this time their investments actually make sense. Most are buying homes below replacement cost, or at prices that allow for a reasonable rental return.
Across the 167 metro areas we analyzed, investor activity rose to 29.6% of all transactions in the first quarter of this year, up from the trough of 23.6% in Q4 2009. Our research leads us to believe Q2 activity exceeds Q1, and since last quarter, investor activity has already spiked 2%!
Investor activity has returned to the markets where investors got burned the most. These markets include Miami, Phoenix, Las Vegas, Sacramento, and Riverside (CA). Some markets are now completely dominated by investors, such as Las Vegas (50% of all activity) and Phoenix (46%).We've helped several clients purchase homes of Huntsville without having physically seen them first and can give you a lot of additional information on candidate homes, neighborhoods and areas. We can preview homes, provide our impressions and lots of additional photography. I am however always uneasy until clients are able to see the house and get settled in. If there is any possible way it's best to make at least a short house hunting trip or haveSmall markets are also attractive to investors, especially in inland California (Merced, Modesto, Bakersfield, Vallejo, etc.) and second home buyers are also sensing the bargains, causing huge increases in Naples, The Villages, Tucson and Panama City.
The naysayers will surely point to these facts as a false recovery. While they are technically correct, we are not concerned at all, and are embracing the return of private capital. Most of these investors are paying all cash and buying homes below replacement cost. They are helping the market recover by removing supply at the low end of the market and driving real buyers to higher price points, including new homes. We don’t see a scenario where they dump their homes en masse on the market unless it becomes crystal clear that home prices are headed down again.
Normal wear and tear in rental properties;Source; Sarah Taggart law firm;In the past several weeks our law firm has seen a dramatic increase in the number of small claims court disputes regarding security deposits. This month we are going to discuss the legal concept of "reasonable wear and tear" and the security deposit.
Classically, a security deposit is designed to ensure that the rental premises are returned to the landlord in roughly the same condition that they were leased out, minus "reasonable wear and tear". That phrase often confuses landlords - the tendency is to think that all tenant-caused "damage" (or dirt) is the proper province of a security deposit OR that the security deposit can be used to help defray the costs of "turning" a unit.
That is not the case. "Reasonable wear and tear" includes deterioration of the rental premises that occurs during normal conditions. For example, paint may fade, electrical switches may wear out and break, pull strings on blinds may fray or break, carpet and tile may wear down. These things happen even if the tenant cleans regularly and cares for the premises reasonably. "Damage", on the other hand, occurs from "unreasonable use" and can include extreme build up of dirt or grime, stains on the carpets, broken windows, scorch marks on granite. As a general rule, the longer the length of the tenancy, the more "wear and tear" is reasonable. I find that if landlords look at the security deposit as a damage deposit they are less inclined to make questionable deductions.
Making questionable deductions from a security deposit can be a costly mistake: as noted above, many tenants will sue in small claims to recoup their deposit. The burden of proof is on the landlord to establish that damages exceed "reasonable wear and tear". Proper documentation, including a move-in inspection and photographs, are essential. You must also send the tenant a letter within 35 days of the "end" of the tenancy itemizing any deductions.
Also: routine "cleaning fees" or "carpet cleaning fees" that are always assessed is not a good practice. Each rental premises should be evaluated individually before you begin deducting from the deposit
family or colleagues view candidate homes first.
Huntsville Houses Search the huntsville al mls for huntsville houses for sale in huntsville at http://www. Huntsville-homes. Com/huntsville-houses-for-sale. Com no registration required. Request automated real estate search. Get the market value of your huntsville houses
The U.S. Bureau of Labor Statistics (BLS) reported that the July, 2012 unemployment rate jumped to 8.3% That’s bad. It means 12.9 million people are without work. And since it is easy to read such statistics without much thought, let’s emphasize it a bit. In the United States alone, 12,922,618 people are “newly” unemployed. These are moms and dads who worry about feeding their children, keeping their homes, and clothing themselves. It’s the equivalent of the entire population of Switzerland and New Zealand – COMBINED. But it’s far worse than that, really. A more accurate unemployment figure for the United States is 15.1%. And we’re not pulling that data from some anti-government site either. No, it’s a figure that comes directly from the U.S. government itself. You see, most Americans don’t realize it, but the government actually tracks 6 different unemployment figures (labeled as U1 thru U6). Since incumbent administrations (of either party) don’t want bad unemployment numbers pinned to them, they only publish a lower figure as the “official” unemployment rate. Currently, the U3 is the published, “headline” rate. That’s what’s at 8.3%. The higher fifteen percent number we mentioned above is the U6 rate, which includes those who have given up looking for jobs in the “short-term.” That means there are far more jobless people in the United States than you might think. 23.5 million, to be precise. That’s more than the entire population of Australia! Up until 1994, the government also tracked another figure. It included long-term “discouraged workers” (as they are officially called). These were people who had given up looking for a job longer-term, or who were forced to work part-time in a low-paying job because they couldn’t find anything else. The government didn’t like these people mucking up its numbers. They didn’t paint a rosy picture. So these folks were conveniently dropped from any official statistic of the U.S. government. The U.S. Bureau of Labor Statistics doesn’t even track these people at all anymore. The government says they don’t count. But John Williams, an economist who runs ShadowStats.com, thinks they do count. So he continues to compile this information. He calls it the SGS Alternate. The latest chart with data since 1994 is to the right. Using the same analysis model the government used to use, he calculates the true number of people currently out of work at 23.6%. That’s a whopping 36.7 million Americans. That’s more than the entire population of Canada! Still not convinced? CNN wasn’t so sure either, so they did their own investigation earlier this year. Their report in May 2012 found that ShadowStats.com -- and the government -- may have it ALL wrong. A person is counted as part of the labor force if they have a job or have looked for one in the last four weeks. This year, only 63.6% of Americans over the age of 16 fell into that category, according to the Labor Department. That means the remainder are not working or not looking. That number now stands at 86 Million people. That includes people who are retired, in school or staying home to raise kids. These are people who truly aren’t looking for work. But when CNN filtered those people out, they still came up with between 36-58 million people in the U.S. who are involuntarily jobless ... or who are working part time because they can’t find anything better. This is a staggering number. It means these people are either draining their savings and retirement funds to survive, or relying on government assistance to get by.
Key words;
Homes of Huntsville, huntsville mls, huntsville al mls
Tags: homes of huntsville, huntsville al mls, huntsville mls
Homes of Huntsville investors/ property management / relocating (Draft) (edit/delete)
Market recovery driven by investors;Investors are buying homes at a more rapid pace than ever before, and this time their investments actually make sense. Most are buying homes below replacement cost, or at prices that allow for a reasonable rental return.
Across the 167 metro areas we analyzed, investor activity rose to 29.6% of all transactions in the first quarter of this year, up from the trough of 23.6% in Q4 2009. Our research leads us to believe Q2 activity exceeds Q1, and since last quarter, investor activity has already spiked 2%!
Investor activity has returned to the markets where investors got burned the most. These markets include Miami, Phoenix, Las Vegas, Sacramento, and Riverside (CA). Some markets are now completely dominated by investors, such as Las Vegas (50% of all activity) and Phoenix (46%).We've helped several clients purchase homes of Huntsville without having physically seen them first and can give you a lot of additional information on candidate homes, neighborhoods and areas. We can preview homes, provide our impressions and lots of additional photography. I am however always uneasy until clients are able to see the house and get settled in. If there is any possible way it's best to make at least a short house hunting trip or haveSmall markets are also attractive to investors, especially in inland California (Merced, Modesto, Bakersfield, Vallejo, etc.) and second home buyers are also sensing the bargains, causing huge increases in Naples, The Villages, Tucson and Panama City.
The naysayers will surely point to these facts as a false recovery. While they are technically correct, we are not concerned at all, and are embracing the return of private capital. Most of these investors are paying all cash and buying homes below replacement cost. They are helping the market recover by removing supply at the low end of the market and driving real buyers to higher price points, including new homes. We don’t see a scenario where they dump their homes en masse on the market unless it becomes crystal clear that home prices are headed down again.
Normal wear and tear in rental properties;Source; Sarah Taggart law firm;In the past several weeks our law firm has seen a dramatic increase in the number of small claims court disputes regarding security deposits. This month we are going to discuss the legal concept of "reasonable wear and tear" and the security deposit.
Classically, a security deposit is designed to ensure that the rental premises are returned to the landlord in roughly the same condition that they were leased out, minus "reasonable wear and tear". That phrase often confuses landlords - the tendency is to think that all tenant-caused "damage" (or dirt) is the proper province of a security deposit OR that the security deposit can be used to help defray the costs of "turning" a unit.
That is not the case. "Reasonable wear and tear" includes deterioration of the rental premises that occurs during normal conditions. For example, paint may fade, electrical switches may wear out and break, pull strings on blinds may fray or break, carpet and tile may wear down. These things happen even if the tenant cleans regularly and cares for the premises reasonably. "Damage", on the other hand, occurs from "unreasonable use" and can include extreme build up of dirt or grime, stains on the carpets, broken windows, scorch marks on granite. As a general rule, the longer the length of the tenancy, the more "wear and tear" is reasonable. I find that if landlords look at the security deposit as a damage deposit they are less inclined to make questionable deductions.
Making questionable deductions from a security deposit can be a costly mistake: as noted above, many tenants will sue in small claims to recoup their deposit. The burden of proof is on the landlord to establish that damages exceed "reasonable wear and tear". Proper documentation, including a move-in inspection and photographs, are essential. You must also send the tenant a letter within 35 days of the "end" of the tenancy itemizing any deductions.
Also: routine "cleaning fees" or "carpet cleaning fees" that are always assessed is not a good practice. Each rental premises should be evaluated individually before you begin deducting from the deposit
family or colleagues view candidate homes first.
Huntsville Houses Search the huntsville al mls for huntsville houses for sale in huntsville at http://www. Huntsville-homes. Com/huntsville-houses-for-sale. Com no registration required. Request automated real estate search. Get the market value of your huntsville houses
The U.S. Bureau of Labor Statistics (BLS) reported that the July, 2012 unemployment rate jumped to 8.3% That’s bad. It means 12.9 million people are without work. And since it is easy to read such statistics without much thought, let’s emphasize it a bit. In the United States alone, 12,922,618 people are “newly” unemployed. These are moms and dads who worry about feeding their children, keeping their homes, and clothing themselves. It’s the equivalent of the entire population of Switzerland and New Zealand – COMBINED. But it’s far worse than that, really. A more accurate unemployment figure for the United States is 15.1%. And we’re not pulling that data from some anti-government site either. No, it’s a figure that comes directly from the U.S. government itself. You see, most Americans don’t realize it, but the government actually tracks 6 different unemployment figures (labeled as U1 thru U6). Since incumbent administrations (of either party) don’t want bad unemployment numbers pinned to them, they only publish a lower figure as the “official” unemployment rate. Currently, the U3 is the published, “headline” rate. That’s what’s at 8.3%. The higher fifteen percent number we mentioned above is the U6 rate, which includes those who have given up looking for jobs in the “short-term.” That means there are far more jobless people in the United States than you might think. 23.5 million, to be precise. That’s more than the entire population of Australia! Up until 1994, the government also tracked another figure. It included long-term “discouraged workers” (as they are officially called). These were people who had given up looking for a job longer-term, or who were forced to work part-time in a low-paying job because they couldn’t find anything else. The government didn’t like these people mucking up its numbers. They didn’t paint a rosy picture. So these folks were conveniently dropped from any official statistic of the U.S. government. The U.S. Bureau of Labor Statistics doesn’t even track these people at all anymore. The government says they don’t count. But John Williams, an economist who runs ShadowStats.com, thinks they do count. So he continues to compile this information. He calls it the SGS Alternate. The latest chart with data since 1994 is to the right. Using the same analysis model the government used to use, he calculates the true number of people currently out of work at 23.6%. That’s a whopping 36.7 million Americans. That’s more than the entire population of Canada! Still not convinced? CNN wasn’t so sure either, so they did their own investigation earlier this year. Their report in May 2012 found that ShadowStats.com -- and the government -- may have it ALL wrong. A person is counted as part of the labor force if they have a job or have looked for one in the last four weeks. This year, only 63.6% of Americans over the age of 16 fell into that category, according to the Labor Department. That means the remainder are not working or not looking. That number now stands at 86 Million people. That includes people who are retired, in school or staying home to raise kids. These are people who truly aren’t looking for work. But when CNN filtered those people out, they still came up with between 36-58 million people in the U.S. who are involuntarily jobless ... or who are working part time because they can’t find anything better. This is a staggering number. It means these people are either draining their savings and retirement funds to survive, or relying on government assistance to get by.
Key words;
Homes of Huntsville, huntsville mls, huntsville al mls
Tags: homes of huntsville, huntsville al mls, huntsville mls
Tuesday, August 28, 2012
homes of huntsville rates rise
Mortgage rates have moved higher off of record lows for the second consecutive week.
August 28th, 2012 4:36 PM
SOURCE INMAN NEWS
Mortgage rates have moved higher off of record lows for the second consecutive week amid signs that the U.S. job market is stabilizing, according to a weekly survey by Freddie Mac. For 30-year fixed-rate mortgages, rates averaged 3.59 percent with an average 0.6 point for the week ending Aug. 9, up from 3.55 percent last week but down from 4.32 percent a year ago, according to Freddie Mac's Primary Mortgage Market Survey. Rates on 30-year fixed-rate mortgages hit an all-time low in Freddie Mac records dating to 1971 when they fell to 3.49 percent during the week ending July 26. Rates on 15-year fixed-rate mortgages averaged 2.84 percent with an average 0.6 point, up from 2.83 percent last week but down from 3.5 percent a year ago. Rates on 15-year fixed-rate mortgages hit a low in records dating to 1991 of 2.8 percent during the week ending July 26. For five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans, rates averaged 2.77 percent with an average 0.6 point, up from 2.75 percent last week but down from 3.13 percent a year ago. Rates on five-year ARM loans hit a low in records dating to 2005 of 2.74 percent during the week ending July 26. Rates on one-year Treasury-indexed ARMs averaged 2.65 percent with an average 0.4 point, down from 2.7 percent last week and 2.89 percent a year ago. That's a new low in records dating to 1984. A separate survey by the Mortgage Bankers Association showed demand for purchase loans during the week ending Aug. 9 was down a seasonally adjusted 2 percent from the week before, and off 12 percent from the same time a year ago. Applications to refinance accounted for 81 percent of all mortgage loan applications. The U.S. Bureau of Labor Statistics reported Friday that total nonfarm payroll employment rose by 163,000 in July, the biggest gain in five months. Job growth had been below the 100,000 mark for three months in a row. Nevertheless, 12.8 million Americans were still looking for work, and the unemployment rate was essentially unchanged at 8.3 percent. The Department of Labor reported today that initial claims for unemployment benefits fell by 6,000 during the week ending Aug. 4, to a seasonally adjusted 361,000, suggesting that the increased job growth seen in July could be sustained into August, Reuters reported. Positive economic news tends to send long-term interest rates up. Conservative investments like Treasurys and mortgage-backed securities that fund most U.S. mortgage loans may fall out of favor with investors when stocks seem to promise better retur
Please make arrangements to attend one of the webinars listed below. You will be part of a select group of Madison county real estate professionals that will most likely qualify to apply for acceptance as an REO partner for homes of Huntsville one, or several of the financial institutions involved in the 2011 "RoboSigning" litigation. A recent $25 billion relief settlement has been reached and these institutions will soon begin releasing the properties caught up in the 11,000,000 foreclosure backlog. Sp far, over 250% increases in filings have occurred, with another 250% anticipated. Recent legislation and program changes have prompted increased filings in Madison county. A large group of servicers including, Chase, Citi, Bank of America, Ally and Wells Fargo are now working daily to process as many REO files as possible. In addition to the bank details, training will be provided on how to prepare for your application with these involved financial institutions. You will also be directed to a list of the Fannie Mae outsourcing partners and their contact details. There is no cost for this workshop. Due to high response and limited capacity, we will be holding Huntsville AL MLS webinar sessions on Tuesday, August 28, 2012 at 9:00 AM, 11:00 AM, 1:00 PM and 3:00 PM CENTRAL time and we will close registration after 400 seats are filled. Register now by choosing and clicking one of the provided links below: (Please register for only ONE workshop as seats are limited. Multiple registrations will be deleted.) Tuesday August 28 - 9:00 AM CENTRAL - https://www3.gotomeeting.com/register/499749414 Tuesday August 28 - 11:00 AM CENTRAL - https://www3.gotomeeting.com/register/774047030 Tuesday August 28 - 1:00 PM CENTRAL - https://www3.gotomeeting.com/register/239769318 Tuesday August 28 - 3:00 PM CENTRAL - https://www3.gotomeeting.com/register/716422942
homes of huntsville We've got some cracking seminars for you at the show and they are all free to attend - you just reserve your place when you come to the show - doors open at 9.00am. Our seminars cover topics that matter to you and will deliver valuable gold nuggets of information that you will be able to take away 09.30 - Data Security issues for small businesses with Young & Partners 10.00 - 10 practical tips to improve your local online marketing with WSI Web Based Marketing(This 20 minute session will give you 10 actions you can take now that will improve your local online presence and drive more relevant traffic to your web site) 10.30 - Renewable energy and cost reduction with Young & Partners 11.00 - Risky Business with Abacus Financial Planning (Does risk impact on your investment decisions and What about risks in your business? If so, what can you do about it?) 11.30 - Social Media and how to deal with employee issues with Young & Partners 12.00 - How to discover your most profitable customers and get their attention with Uniq, The Academy for Entrepreneurs - (Are you finding that it’s harder than ever before to get good results from marketing and what used to work delivers very little now?
Saturday, August 25, 2012
Homes of huntsville; buy verses rent
homes of huntsville, homes for sale in huntsville al, huntsville al mls
I checked our inventory of rental homes of Huntsville and we don't have anything available in the central district.
August 25th, 2012 3:27 AM
I checked our inventory of rental homes of Huntsville and we don't have anything available in the central district. I also checked on the Huntsville AL MLS to see if any other realtors did. The homes I found were much too small. I will ask around among my realtor colleagues and see if anyone has a home coming up.
I will keep you in mind and you may want to keep an eye on our rentals page; http://www.huntsville-homes.com/RentalHomes Have you considered a purchase? With prices depressed and interest rates low now is a good time to consider it. If you plan on being in Huntsville for three or more years it might be a good move financially. For $1,100 per month including taxes and insurance and a 3.5% no down payment rural housing loan you could purchase in the $215,000 range. There are a good number of available homes in the Central district that might be candidates at the link below. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116218822
When you consider the tax benefits of deducting mortgage interest from your income taxes, there is a grater financial advantage. Homes For Sale In Huntsville AlUsing the public huntsville mls (valley mls) can be difficult. Just let us know what type of homes for sale in huntsville you are looking for and we can search for you. We can also set up an automated search.
If you do have an interest in purchasing, even if it is the home you rent please let us know. We can have a trusted lender contact you for a loan preapproval, research market values, negate for you and watch out for your best interests. Do you know Alfio Gallo? He is a scientist at Qualitest. We helped him and his wife Jodi purchase a house in September 2011. If you do run into him please tell him I said hello.
I checked our inventory of rental homes of Huntsville and we don't have anything available in the central district.
August 25th, 2012 3:27 AM
I checked our inventory of rental homes of Huntsville and we don't have anything available in the central district. I also checked on the Huntsville AL MLS to see if any other realtors did. The homes I found were much too small. I will ask around among my realtor colleagues and see if anyone has a home coming up.
I will keep you in mind and you may want to keep an eye on our rentals page; http://www.huntsville-homes.com/RentalHomes Have you considered a purchase? With prices depressed and interest rates low now is a good time to consider it. If you plan on being in Huntsville for three or more years it might be a good move financially. For $1,100 per month including taxes and insurance and a 3.5% no down payment rural housing loan you could purchase in the $215,000 range. There are a good number of available homes in the Central district that might be candidates at the link below. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116218822
When you consider the tax benefits of deducting mortgage interest from your income taxes, there is a grater financial advantage. Homes For Sale In Huntsville AlUsing the public huntsville mls (valley mls) can be difficult. Just let us know what type of homes for sale in huntsville you are looking for and we can search for you. We can also set up an automated search.
If you do have an interest in purchasing, even if it is the home you rent please let us know. We can have a trusted lender contact you for a loan preapproval, research market values, negate for you and watch out for your best interests. Do you know Alfio Gallo? He is a scientist at Qualitest. We helped him and his wife Jodi purchase a house in September 2011. If you do run into him please tell him I said hello.
Monday, August 20, 2012
homes of huntsville
Source; Alabama Real Estate. ACRE
July residential sales of homes of Huntsville totaling 414 units in greater Huntsville/Madison County area represent a 5.3 percent slip compared to July 2011.
July represents the first month since November 2011 that the sales growth percentage did not increase when compared to the same month from the prior year.
Huntsville residential* sales for July '12 totaled 414 units, representing a decrease of 23 transactions when compared to 437 units that were sold in July '11.
By Product Type (% of Total Sales)
2012 2011
Existing SF: 294 (71%) 307 (70%)
Condo: 12 (3%) 8 (2%)
New Const. 108 (26%) 122 (28%)
*Residential = existing single family, condo, & new construction The median selling price in Huntsville in July 2012 was $178,000, a 3.8 percent decrease from July 2011's median selling price of $185,000.
By Product Type (Y-O-Y Comparison)
2012 2011
Existing SF: $155,950 $160,000
Condo: $109,000 $68,000
Monthly Indicators
Recent Figures
Trends
Total Residential Sales
Current Month
July
2012
414
vs. Prior Month
June
2012
462
-10.4%
vs. Last Year
July
2011
437
-5.3%
vs. 5-Yr Avg
July
'07-'11
492
-15.8%
vs. Peak
July
2007
632
-34.5%
vs. Trough
July
2010
353
17.3%
Sales Pace Mirrors…
July
2011
437
-5.3%
ACRE Commentary
Historical Home Sales
Graph: July 2007 - 2012
July
2011
437
(By month)
"Historical data indicates that July residential sales on average („07-„11) decrease from the month of June by 5.8 percent. July 2012 sales decreased by 10.4 percent from the prior month."
July
2010
353
July
2009
497
July
2008
539
July
2007
632
5- Year Avg:
492
3- Year Avg:
429
Median Sales Price
Current Month
July
2012
178,000
vs. Prior Month
June
2012
175,000
1.7%
vs. Last Year
July
2011
185,000
-3.8%
vs. 5-Yr Avg
July
'07-'11
181,960
-2.2%
Year to Date
July
2011
166,307
vs.Prior Year
July
2010
173,374
-4.1%
Median Peak
July
2010
200,000
-11.0%
Trough
July
2007
174,900
1.8%
ACRE Commentary
Historical Median Selling Price
Graph: July 2007 - 2012
July
2011
185,000
(By month)
"Historical data indicates that July median sales prices on average („07-„11) increase by 2.9 percent from the month of June. The current median price increased by 1.7 percent from the prior month."
July
2010
200,000
July
2009
175,000
July
2008
174,900
July
2007
174,900
5- Year Avg:
181,960
3- Year Avg:
186,667
New Const: $250,000 $249,344 632 414 340 390 440 490 540 590 640 Huntsville: Total Residential Sales 174,900 200,000 178,000 $171,000 $176,000 $181,000 $186,000 $191,000 $196,000 $201,000 Huntsville: Median Residential Price
Huntsville Alabama Homes For Sale Using the huntsville al mls (valley mls) can be difficult. Just let us know what type of homes for sale in huntsville you are looking for and we can search for you. We can also set up an automated search.
July residential sales of homes of Huntsville totaling 414 units in greater Huntsville/Madison County area represent a 5.3 percent slip compared to July 2011.
July represents the first month since November 2011 that the sales growth percentage did not increase when compared to the same month from the prior year.
Huntsville residential* sales for July '12 totaled 414 units, representing a decrease of 23 transactions when compared to 437 units that were sold in July '11.
By Product Type (% of Total Sales)
2012 2011
Existing SF: 294 (71%) 307 (70%)
Condo: 12 (3%) 8 (2%)
New Const. 108 (26%) 122 (28%)
*Residential = existing single family, condo, & new construction The median selling price in Huntsville in July 2012 was $178,000, a 3.8 percent decrease from July 2011's median selling price of $185,000.
By Product Type (Y-O-Y Comparison)
2012 2011
Existing SF: $155,950 $160,000
Condo: $109,000 $68,000
Monthly Indicators
Recent Figures
Trends
Total Residential Sales
Current Month
July
2012
414
vs. Prior Month
June
2012
462
-10.4%
vs. Last Year
July
2011
437
-5.3%
vs. 5-Yr Avg
July
'07-'11
492
-15.8%
vs. Peak
July
2007
632
-34.5%
vs. Trough
July
2010
353
17.3%
Sales Pace Mirrors…
July
2011
437
-5.3%
ACRE Commentary
Historical Home Sales
Graph: July 2007 - 2012
July
2011
437
(By month)
"Historical data indicates that July residential sales on average („07-„11) decrease from the month of June by 5.8 percent. July 2012 sales decreased by 10.4 percent from the prior month."
July
2010
353
July
2009
497
July
2008
539
July
2007
632
5- Year Avg:
492
3- Year Avg:
429
Median Sales Price
Current Month
July
2012
178,000
vs. Prior Month
June
2012
175,000
1.7%
vs. Last Year
July
2011
185,000
-3.8%
vs. 5-Yr Avg
July
'07-'11
181,960
-2.2%
Year to Date
July
2011
166,307
vs.Prior Year
July
2010
173,374
-4.1%
Median Peak
July
2010
200,000
-11.0%
Trough
July
2007
174,900
1.8%
ACRE Commentary
Historical Median Selling Price
Graph: July 2007 - 2012
July
2011
185,000
(By month)
"Historical data indicates that July median sales prices on average („07-„11) increase by 2.9 percent from the month of June. The current median price increased by 1.7 percent from the prior month."
July
2010
200,000
July
2009
175,000
July
2008
174,900
July
2007
174,900
5- Year Avg:
181,960
3- Year Avg:
186,667
New Const: $250,000 $249,344 632 414 340 390 440 490 540 590 640 Huntsville: Total Residential Sales 174,900 200,000 178,000 $171,000 $176,000 $181,000 $186,000 $191,000 $196,000 $201,000 Huntsville: Median Residential Price
Huntsville Alabama Homes For Sale Using the huntsville al mls (valley mls) can be difficult. Just let us know what type of homes for sale in huntsville you are looking for and we can search for you. We can also set up an automated search.
Sunday, August 19, 2012
Homes of huntsville inventories remain low
Homes of Huntsville regional inventories remain low
Source; Andrew Waite; Personal Real Estate Investor Magazine
Normally seasonal sales peaks have passed, yet regional inventories are remaining low in the West and Sunbelt cities. The problem is that the institutional buyers have scarfed up many of the homes that qualify as rental properties - typically, less than 15 years old, production-housing units that are economically central or in near-burbia. Inventory is scarce. Specialized buyers with proprietary acquisition strategies like HomeVestors - which rarely visit court steps, bank REOs, short sales or loss mitigation offices for their properties -suddenly have become more valuable to these institutional buyers as they dig out properties that seldom make public listings
Homebuyers and money center institutions that traditionally had held residential real estate in low esteem as assets, are making an about-face. They no longer believe the data doom peddlers. Even Oliver Chang, an author of Morgan Stanley's "2011 Housing 2.0 - The Rental Paradigm," launched a fund in August 2012. Huntsville Alabama Homes For Sale Using the public huntsville mls (valley mls) can be difficult. Just let us know what type of homes of huntsvillefor sale in huntsville you are looking for and we can search the Huntsville AL MLS for you. We can also set up an automated search.
As inventory gets scarce, the days-on-market indicator drops and prices rise. Our Altos sample shows days-on-market has contracted further and prices show a minor price uptick, or at minimum, flat to positive in markets where there is a better-than-average economy and more plentiful work - even though the overall economy is staggering in Northern states, adding to a new Southern and Western population shift. California taxes and growing lifestyle costs are shifting financially mobile populations and businesses to states like Nevada, Utah, Arizona and Texas, pushing these trends harder. These institutional and individual rental owners are ready to serve these new arrivals with attractive properties. It is clear that inventory, days-on-market and prices are all being affected by these migratory, economic and housing trends. And we anticipate an increase in inventory; homebuilders have started feeling better about themselves. Expect a revival to begin, as the one thing that did not slow down during the Great Recession was population growth. Household creation slowed, but with glimmers of hope and hoped-for change, the members of a generation-on-hold can be expected to climb out of their parents' basements into places of their own. Demographics and simple demand will begin to save us as and will be reflected in the Altos data trends earlier than in any of the big-name forecasters. As Freddie and Queen reminded Investors..."we are (or at least can be) the champions" in this market of rich opportunity.
Saturday, August 18, 2012
Homes of huntsville educational classes
Huntsville real estate education opportunity; Homes of Huntsville
August 18th, 2012 2:33 PM
Thursday August 16, 9:00 a.m. to 12:00 a.m. Oh Baby, X, Y, Z and ME - 3 CE hrs Study of living 6 Generations - Fun class Thursday August 16, 1 pm to 4 pm Code of Ethics - Required by NAR 3 CE hrs Class held at 1593 Hughes Rd, Ste A, Madison, AL 35758 Keller Williams Training Facility You can register for one or both classes only $25 each Please register at our web site www.RealEstateAcademy.org with VISA or MASTERCARD. Call 256-783-3299 with questions. SEATING IS LIMITED! PLEASE REGISTER FOR CLASS & HAVE YOUR ALABAMA LICENSE NUMBER Larry Carroll 256-503-3000 Nancy Carroll 256-783-3299 RealEstateAcademy.org Real Estate Academy of Learning (License # 79163) Valley mls, huntsville mls search; valley mls, the Huntsville AL MLS service has limited features and can be difficult to use. If you have trouble or aren’t sure where to start just let us know what you are looking for and we will help. Http://www. Huntsville-homes. Com
"RISK MANAGEMENT" AND "FORMS" CE CLASSES The following Continuing Education (CE) classes will be offered on Saturday, August 25th: 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, Aug. 21st, from 5:30PM til 8:30PM, Forms will be offered on Wednesday, Aug. 22nd, 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 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. Good homes of huntsville selling, Walt **********************************************************
Come join us at the NEW REALTORS CLUB meeting, Thursday August 16th, 11:30-1:00. Make reservations and enjoy a free lunch with a very informative program the 3rd Thursday of each month. Contact: robin.gerrish@charter.net It is not just for new Realtors.
Friday, August 17, 2012
Consider homes of Huntsville purchase
With prices depressed and interest rates low now is a good time to consider a purchase.
August 17th, 2012 7:15 PM
With prices depressed and interest rates low now is a good time to consider a purchase. If you plan on being in Huntsville for three or more years it might be a good move financially. For $1,100 per month including taxes and insurance and a 3.5% no down payment rural housing loan one could purchase in the $215,000 range. There are a good number of available homes of Huntsville in the Central district that might be candidates at the link below. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116218822 When you consider the tax benefits of deducting mortgage interest from your income taxes, there is a grater financial advantage. Homes For Sale In Huntsville AlUsing the public huntsville mls (valley mls) can be difficult. Just let us know what type of homes of huntsville you are looking for and we can search for you. We can also set up an automated search.
Thursday, August 16, 2012
homes of huntsville market review
Homes of Huntsville market study.
August 16th, 2012 3:36 PM
The three factors needed to sell a home are pricing the house within the market, preparing the home so it shows well and marketing it to an adequate number of prospective buyers. The house seem to be priced within the market range. Since 7/1/11 there have been three sales in the neighborhood. The homes sold at $78, $98 and $96 per square foot. The average sold price was $91 per square foot. At least two and possibly all three of the sales were Adams Homes construction. There are five active homes of huntsville listings in the neighborhood at an average list price of $90 per square foot and a range of $82 to $96 per square foot. At first look, price does not appear to be the issue. Please follow the link below for the summary of recent MLS activity in the neighborhood. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116135419 The other factor to consider on price is compeating homes of Huntsville outside the neighborhood. The link below is to active listings in Hampton Cove in the $200,000 to $250,000 range. There are 29 active listings and 8 pending sales. Your home compares favorably to the competing listings although a few of the homes are new or newer homes. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116135556 We can often troubleshoot a listing based on showing activity. In this price and location we could expect to see 1 - 2 showings per week. If showings are substantially less than that we need to re-evaluate our price and marketing. If we have consistent showings but no or very low offers we need to review how well the house shows. Our lockbox system has the capability of notifying the listing agent and seller each time the lockbox is opened. This is a great tool for tracking showing activity. I believe the house is priced within the market but we might consider minor regular increments. Each time there is a price change in the MLS, a property goes on the realtor hot sheet of new listings / changes to existing listings. Also if the home meets the criteria of automated searches, an email will go out to those buyers and buyer's agents giving added exposure to the house. While over 90% of real estate sales are a result of a buyer or buyer's agent finding a property on the MLS, we do have an internet marketing firm. When we post a home on the MLS they post the listing on several dozen real estate sites and on Craig's List for greater exposure. We also post on Face book and Face book marketplace. We do still use print ads in three local real estate magazines although we recive only a very few sales per year from the ads. It's rare that we sell a home as a result of an open house but we do try and have regular open houses on our listings. In general we have curious neighbors and find buyers that are not a fit for the specific house but we can work with them on other homes. As an option you might consider offering the house for sale and as a lease option. We have used this as a marketing tool in a tough economy, selling homes when none around them were selling. http://www.huntsville-homes.com/LeaseOptionLeasePurchaseforSellers
Homes of Huntsville, Huntsville MLS
Market value and homes of Huntsville listings troubleshooting
August 16th, 2012 10:58 AM
We market our listings through the MLS and an online marketing company based in Nashville. Our website is the first or one of the first that shows on Google searches and we also advertise in the local real estate magazines. I post on Craig's List and You Tube myself. There are key things to consider in listings. Good photography is important. There are lots of competing listings and we need to be able to catch a buyers eye. Most buyers quickly scan the photos before reading the listing. We do subscribe to virtual tours but they are slow to load and I prefer using You Tube slide shows. They load much faster. Our website provider just added a very cool interactive floor plan that I'm looking forward to learning. We can link the MLS listing to the floor plan. http://www.alamode.com/agent/gold/marketing/toursketch/ On the huntsville mls listing we need to make sure all the information is correct for the search filters. The MLS has limited space for narration but we can attach additional information under the photos section and reference it in the description. I was thinking of scanning your notes to a PDF file and attaching it to the listing. Over 90% of real estate sales are a result of the MLS with one realtor listing a property that is a match for another realtor's buyer. The key is properly pricing a property when it first goes on the market, making sure the listing is eye catching and making sure it shows well. I think your house was probably listed for too much when it first went on market in April. I expect to see one or more showings per week on average. If we consistently have fewer showings the first item to review is the price. Given the current soft market many owners are leasing their homes until the market recovers. If you have a potential buyer we can exclude the buyer from the listing agreement. We would like to have the listing for at least 60 - 90 days but if you are dissatisfied with what we are doing to market and sell the house we can release you from the listing. A large portion of our business is from referrals and I would rather terminate a listing than cause ill will. I set aside time each Friday to review both my for sale and rental listings. If I think we need to make adjustments to the listing based on showing activity and feedback I contact the owners. We can set up automatic notification to owners of showings. When the lock box is opened our system can send an email to us and to the owner. Again tracking showing activity is key to knowing if we are properly priced. At the point that we do get an offer or actionable feedback we will communicate as needed. The link below is to a summary of MLS activity in the neighborhood since 08/01/11. The average sold price was $91 per square foot with a range of $78 to $98 per square foot. All of the sales were Adams Homes. The average list price is $93 per square foot. The active listings have been on market since 03/12/12, 07/08/12, 10/22/10 and 04/06/12 respectively. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116198216 7111 HORSE HOLLOW DRIVE listed at at $93 per square foot since 07/08/12 and 7022 THORNWOOD LANE at $96 per square foot listed since 04/06/12 are the best comparable homes. Looking outside the immediate neighborhood for homes of huntsville but within Hampton Cove I found the recent sales at the link below. 2766 DEFORD MILL ROAD is probably best comparison. It sold at $97 per square foot in just 26 days but is in a neighborhood where homes sell in the $100+ per square foot range. The sales of Adams Homes in your neighborhood tend to keep the prices of the other home depressed. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116198232 The link below is to the 22 active listings in Hampton Cove in the $220,000 to $250,000 range. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116198239 In all of Madison County there are 292 listings in that price range. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116198243 After reviewing the data I don't think that $249,900 is too much to ask for the house. There is however a lot of competing inventory including new and newer construction. Since we are reaching the end of the peak selling season, selling might take a little longer. We might also considering offering the house as a lease purchase to set it apart from the competing listings. There are inherent risks in any rental and we do have to structure the agreement so it's easy to disentangle if the purchase falls though but it can be an effective marketing tool. Given what you have in the house you might consider holding it as an investment property for 2 - 3 years in hopes of the market recovering.
Homes of Huntsville, Huntsville mls
Market value and homes of Huntsville listings troubleshooting
August 16th, 2012 10:58 AM
We market our listings through the MLS and an online marketing company based in Nashville. Our website is the first or one of the first that shows on Google searches and we also advertise in the local real estate magazines. I post on Craig's List and You Tube myself. There are key things to consider in listings. Good photography is important. There are lots of competing listings and we need to be able to catch a buyers eye. Most buyers quickly scan the photos before reading the listing. We do subscribe to virtual tours but they are slow to load and I prefer using You Tube slide shows. They load much faster. Our website provider just added a very cool interactive floor plan that I'm looking forward to learning. We can link the MLS listing to the floor plan. http://www.alamode.com/agent/gold/marketing/toursketch/ On the huntsville mls listing we need to make sure all the information is correct for the search filters. The MLS has limited space for narration but we can attach additional information under the photos section and reference it in the description. I was thinking of scanning your notes to a PDF file and attaching it to the listing. Over 90% of real estate sales are a result of the MLS with one realtor listing a property that is a match for another realtor's buyer. The key is properly pricing a property when it first goes on the market, making sure the listing is eye catching and making sure it shows well. I think your house was probably listed for too much when it first went on market in April. I expect to see one or more showings per week on average. If we consistently have fewer showings the first item to review is the price. Given the current soft market many owners are leasing their homes until the market recovers. If you have a potential buyer we can exclude the buyer from the listing agreement. We would like to have the listing for at least 60 - 90 days but if you are dissatisfied with what we are doing to market and sell the house we can release you from the listing. A large portion of our business is from referrals and I would rather terminate a listing than cause ill will. I set aside time each Friday to review both my for sale and rental listings. If I think we need to make adjustments to the listing based on showing activity and feedback I contact the owners. We can set up automatic notification to owners of showings. When the lock box is opened our system can send an email to us and to the owner. Again tracking showing activity is key to knowing if we are properly priced. At the point that we do get an offer or actionable feedback we will communicate as needed. The link below is to a summary of MLS activity in the neighborhood since 08/01/11. The average sold price was $91 per square foot with a range of $78 to $98 per square foot. All of the sales were Adams Homes. The average list price is $93 per square foot. The active listings have been on market since 03/12/12, 07/08/12, 10/22/10 and 04/06/12 respectively. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116198216 7111 HORSE HOLLOW DRIVE listed at at $93 per square foot since 07/08/12 and 7022 THORNWOOD LANE at $96 per square foot listed since 04/06/12 are the best comparable homes. Looking outside the immediate neighborhood for homes of huntsville but within Hampton Cove I found the recent sales at the link below. 2766 DEFORD MILL ROAD is probably best comparison. It sold at $97 per square foot in just 26 days but is in a neighborhood where homes sell in the $100+ per square foot range. The sales of Adams Homes in your neighborhood tend to keep the prices of the other home depressed. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116198232 The link below is to the 22 active listings in Hampton Cove in the $220,000 to $250,000 range. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116198239 In all of Madison County there are 292 listings in that price range. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116198243 After reviewing the data I don't think that $249,900 is too much to ask for the house. There is however a lot of competing inventory including new and newer construction. Since we are reaching the end of the peak selling season, selling might take a little longer. We might also considering offering the house as a lease purchase to set it apart from the competing listings. There are inherent risks in any rental and we do have to structure the agreement so it's easy to disentangle if the purchase falls though but it can be an effective marketing tool. Given what you have in the house you might consider holding it as an investment property for 2 - 3 years in hopes of the market recovering.
Wednesday, August 15, 2012
Homes of Huntsville; FHA rules
Homes of Huntsville; FHA rules regarding seller paid closing costs
August 15th, 2012 5:41 PM
Source; George Souto McCue Mortgage
These days many of the FHA Borrowers that I work with require Sellers to pay most of their Closing Costs, so I need to be on top of what the FHA Guideline On Seller Paid Closing Costs are. The FHA Guideline On Seller Paid Closing Costs are very specific, but could cause some last minute surprises if not explained correctly, and understood by the Borrower. FHA does not require that a Buyer put any of his or her own money towards Downpayment and/or Closing Cost. All of the money for Downpayment and Closing Costs can come from an acceptable gift source such as a: Family member Employer Non Profit State Bonded Program like CHFA in Connecticut FHA will not allow a Seller to contribute ANY money towards Downpayment, but they will allow the Seller to contribute up to 6% of the Sales Price towards the Buyers Closing Costs. This sounds good and it is, but I rarely see the Seller actually pay the Buyers Closing Costs. In reality what happens is the Seller raises the agreed upon Selling Price by the amount of the Closing Costs that they will be contributing. This means that even though the Buyer can receive up to 6% towards Closing Costs, they should not request any more than the actual amount of Closing Costs that the Seller will be allowed to pay at the Closing. If the Buyer asks for more money than the Seller will be allowed to contribute towards Closing Cost, the Seller gets to keep the difference, and the Buyer ends up paying more for the house than they needed to. This means that before a Buyer or their Realtor asks for Seller Paid Closing Costs, they need to talk to their Loan Originator, and have him or her give them a very close estimate of what the Total Closing Cost will actually be. In figuring the Estimated Closing Costs, the Loan Originator will need to take into account the Closing Cost that FHA will not allow the Seller to pay, and subtract them from the Total Closing Cost Estimate. The Closing Costs the will need to be deducted from the Total Closing Costs are any Closing Costs that are paid before the Closing. Those will include any fees paid to the Lender or other vendors prior to the Closing. Possible items that maybe required to be paid before of the Closing are: Appraisal Fee Application Fee Condo Questionnaire Homeowners Insurance There are other fees that could possibly be required to be paid before the Closing, but these are the most common ones. However, even though I have included Homeowners Insurance in the list above, there is away to include them into the costs that the Seller will contribute at the Closing. All Lenders will require that the Borrower obtain an insurance binder before the Closing, but they do not require that the premium be paid prior to the Closing as long as a check will be sent to the insurance company at the time of the Closing. However, some insurance companies will not issue the insurance binder without a payment, so what I advise my Borrowers to do in that case is to just pay them one month premium, and the other 11 months paid at the Closing. That way they can maximize the funds that that they can receive from the Seller, and reduce their out of pocket cost. I have heard of angry Buyers that did not find out until the Closing that they could not be reimbursed for the items that they paid before the Closing. That is not the type of surprise that anyone wants at the last minute. I make sure that my Borrowers understand this when I am Pre-Qualifying them, when I am doing the Mortgage Application with them, and after the loan is approved and they are now going to shop for Homeowners Insurance. I want them to take advantage of ALL the funds that the Seller has agreed to contribute, and I don't want an agree phone call from my Borrowers after the Closing. This is something that can not be explained enough, and should be reinforced at every appropriate opportunity. FHA Guideline On Seller Paid Closing Costs are very clear, and need to be followed, because FHA does not provide any flexibility when it comes to this issue.
Keywords; homes of Huntsville, homes Huntsville AL, homes in Huntsville Alabama, homes in Huntsville AL, Huntsville real estate, At homes Huntsville
Title: Huntsville Alabama Homes For Sale URL: http://www.huntsville-homes.com/LookingtoBuyFreeHelp Description: Using the public huntsville mls (valley mls) can be difficult. Just let us know what type of homes for sale in huntsville you are looking for and we can search for you. We can also set up an automated search.
Facebook Advertising For Property Managers First Name Last Name Email Address Phone Number StateChoose OneAKALARAZCACOCTDCDEFLGAHIIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNDNENHNJNMNVNYOHOKORPARISCSDTNTXUTVAVTWAWIWVWYAl Company Name Current SolutionChoose OneAppFolioBuildiumManage-ITPromasProperty Manager EdgePropertywareQuickBooks / Quicken / ExcelRent ManagerTenant ProYardiOther SolutionRealPage Number of Units Managed sfga: SFDC Campaign ID: SFDC Campaign Status: Lead Source: Lead Source Detail: Join us as Charity Hisle (Social Media Expert) shares her expertise on how you can run a successful Facebook ad campaign. Find new owners, fill vacancies faster, and grow your brand awareness using this powerful marketing tool. In this complimentary 45-minute webinar on Thursday, August 30th at 11am PDT / 2pm EDT Charity will cover how you can: Create a stellar Facebook ad campaign Connect to new fans with Facebook ads Target ads to maximize results Utilize the new offers and promoted posts And More! OUR PRESENTER Charity is a leading expert on social media for property management. She shares her knowledge regarding the most current social media trends and resources as a national speaker and trainer. ABOUT THE HOSTS This educational event is hosted by Grace Hill, the leading provider of education and networking opportunities for members of the multifamily industry and AppFolio, providers of web-based property management software designed for modern residential property managers.
Huntsville AL MLS
With prices depressed and interest rates low now is a good time to consider it. If you plan on being in Huntsville for three or more years it might be a good move financially.
For $1,100 per month including taxes and insurance and a 3.5% no down payment rural housing loan you could purchase in the $215,000 range. There are a good number of available homes (Including the one you rent.) in the Central district that might be candidates in the Huntsville AL MLS at the link below.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116218822
When you consider the tax benefits of deducting mortgage interest from your income taxes, there is a grater financial advantage.
If you do have an interest in purchasing, even if it is the home you rent please let us know. We can have a trusted lender contact you for a loan preapproval, research market values, negate for you and watch out for your best interests.
For $1,100 per month including taxes and insurance and a 3.5% no down payment rural housing loan you could purchase in the $215,000 range. There are a good number of available homes (Including the one you rent.) in the Central district that might be candidates in the Huntsville AL MLS at the link below.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116218822
When you consider the tax benefits of deducting mortgage interest from your income taxes, there is a grater financial advantage.
If you do have an interest in purchasing, even if it is the home you rent please let us know. We can have a trusted lender contact you for a loan preapproval, research market values, negate for you and watch out for your best interests.
Homes for sale in Huntsville Alabama
Troubleshooting listing; Homes for sale in Huntsville Alabama
August 15th, 2012 10:24 AM
The three factors needed to sell a home are pricing the house within the market, preparing the home so it shows well and marketing it to an adequate number of prospective buyers. From the MLS photos the house appears attractive and well maintained. At the current list price of $249,900 / $82 per square foot the house seem to be priced within the market range. Since 7/1/11 there have been three sales in the neighborhood. The homes sold at $78, $98 and $96 per square foot. The average sold price was $91 per square foot. At least two and possibly all three of the sales were Adams Homes construction. There are five active listings in the neighborhood at an average list price of $90 per square foot and a range of $82 to $96 per square foot. At first look, price does not appear to be the issue. Please follow the link below for the summary of recent MLS activity in the neighborhood. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=711677735419 The other factor to consider on price is competition outside the neighborhood. The link below is to active listings in Hampton Cove in the $200,000 to $250,000 range. There are 29 active listings and 8 pending sales. Your home compares favorably to the competing listings although a few of the homes are new or newer homes. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=58211575556 We can often troubleshoot a listing based on showing activity. In this price and location we could expect to see 1 - 2 showings per week. If showings are substantially less than that we need to re-evaluate our price and marketing. If we have consistent showings but no or very low offers we need to review how well the house shows. Our lockbox system has the capability of notifying the listing agent and seller each time the lockbox is opened. This is a great tool for tracking showing activity. I believe the house is priced within the market but we might consider minor regular increments. Each time there is a price change in the MLS, a property goes on the realtor hot sheet of new listings / changes to existing listings. Also if the home meets the criteria of automated searches, an email will go out to those buyers and buyer's agents giving added exposure to the house. While over 90% of real estate sales are a result of a buyer or buyer's agent finding a property on the MLS, we do have an internet marketing firm. When we post a home on the MLS they post the listing on several dozen real estate sites and on Craig's List for greater exposure. We also post on Face book and Face book marketplace. We do still use print ads in three local real estate magazines although we recive only a very few sales per year from the ads. It's rare that we sell a home as a result of an open house but we do try and have regular open houses on our listings. In general we have curious neighbors and find buyers that are not a fit for the specific house but we can work with them on other homes. As an option you might consider offering the house for sale and as a lease option. We have used this as a marketing tool in a tough economy, selling homes when none around them were selling. http://www.huntsville-homes.com/LeaseOptionLeasePurchaseforSellers
Huntsville AL MLS Acess the Huntsville MLS Valley MLS to search for every available Homes for sale in Huntsville Alabama without having to register. Request an automated search to recive notification of new listings. http://www.huntsville-homes.com/Valley-MLS-Search-Yourself
Tuesday, August 14, 2012
Huntsville real estate, Huntsville AL MLS
Huntsville real estate; Research of homes on the Huntsville AL MLS
August 14th, 2012 9:28 AM
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718950742 The house on Baine is cute but the seller has attempted hide some severe foundation problems by getting ivy to grow on some large cracks in the brick and foundation.The house on Delcrest has a very steep lot. Even if that is not an issue for you. It will make an eventual resale more difficult.
Tax records are notoriously inaccurate. It is possible to provide current information to the assessor. That the listing shows 3 acres and the tax records 2.9 acres is not surprising. The original listing agent got the data from seller. Sellers are prone to pad acreage and square feet. IN all cases, especially when a property is bank owned, it is best to confirm all the data that is critical to making a decision.
The link below is to the photos of the house that I took today. I included photos of the large unfinished storage area as well. http://picasaweb.google.com/philipwinburn/2613FANELLECIRCLE35801# The links below are to the schools that serve the property. http://www.schooldigger.com/go/AL/schools/0180000634/school.aspx http://www.schooldigger.com/go/AL/schools/0180000632/school.aspx http://www.schooldigger.com/go/AL/schools/0180000631/school.aspx The Fanelle house is listed at $86 psf (per square foot) The link below is to all MLS activity in the neighborhood since 1/1/11 http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718945243 The average sold price was $106 psf with a range of $94 to $120 psf. There are two active listings averaging $97 psf. The link below is to the Google interactive street view. http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=2613+FANELLE+CIRCLE,+35801&sll=37.0625,-95.677068&sspn=22.431602,49.130859&ie=UTF8&ll=34.713749,-86.55982&spn=0.011324,0.02399&z=15&iwloc=addr&layer=c&cbll=34.710178,-86.559836&panoid=ZlbzmY4-KGlGGJGlVY8oTg&cbp=12,84.13309846934635,,0,5 The link below is to the Google aerial image, http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=2613+FANELLE+CIRCLE,+35801&sll=34.710362,-86.560035&sspn=0,359.988005&g=2613+FANELLE+CIRCLE,+35801&ie=UTF8&ll=34.710362,-86.559831&spn=0.000708,0.001499&t=h&z=19&iwloc=addr The link below is to the full listing of the house on 2607 Scenic Drive. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718945233 The house is listed at $86 psf. The link below is to all MLS activity in the neighborhood since 01/01/08.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718945249 While the average sold price was $101 psf, the subject property is much larger than the comparables. To a degree the upper sales price of a neighborhood will be held down by smaller properties in the neighborhood. The house is located at the back of the neighborhood on a street with a few other larger houses.
http://www.schooldigger.com/go/AL/schools/0180000630/school.aspx
Huntsville AL MLS Acess the Huntsville MLS / Valley MLS to search for every available Huntsville real estate for sale without having to register. Request an automated search to recive notification of new listings.
Please follow link to photos. http://picasaweb.google.com/philipwinburn/209Jarrett#
The following link it to an old listing. It will give square feet, room size, address and driving directions. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718945112
Monday, August 13, 2012
Huntsville AL real estate for sale, Huntsville AL MLS
Huntsville AL real estate for sale; Huntsville real estate market research
August 13th, 2012 6:22 PM
The link below is to the listing of your property and the only sale in the same subdivision. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718945347 The other property sold at $289,000 / $98 psf (per square foot) Looking for properties in the same elementary school area that are similar in size and age as yours we only found one sale at the link below. The one sale was at $386,500 / $80.52 per square foot. There are ten active listings that haven't sold. The average list price is $111 per square foot. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718945351 It looks like sales of properties of the size and in the location of yours has really taken a hit. Just based on the sales data above Something in the $81 to $95 psf range ( $348,000 to $408,000 ) might be the best we could expect. On the Gilmore house. The link below is where we had the house listed for sale at $189,900 and it didn't sell after four months on market. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718950731 The link below is to two sales and one active listing in the neighborhood. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718950733 The one active listing is listed at $139,900 / $79 psf (per square foot). It has been on market since 6/14/08 or seven months without selling. The average sold price was $144,150/ $71 psf. The average days on market were quite high at 242 indicating the properties sold at near the top of what the market will bear. Based on the average sold price we could expect to sell in the $160,000 range.
Homes for sale in Huntsville Research all Homes for sale in Huntsville and request automated real estate searches. Huntsville rental homes huntsville real estate for sale and property management http://www.huntsville-homes.com/Huntsville-houses-for-sale
The full listing of the property you asked about is at the link below. The address and driving directions are included. You can click on the photo for additional photos and on the address for a map of the approximate location of the property. On the map, you can click on hybrid for a satellite image overlay. In some cases there will also be an interactive street level image. You can click on the zip code to link to the US Census data for the zip code area. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718945330 Please let us know if you have specific questions or if we can schedule a showing of this property for you. The property has been on market since 11/06/08 and has had one price reduction. The link below is to all MLS activity of similar in age in the neighborhood since 1/1/08. This information will help you get a better feel for the neighborhood and market values of properties there. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718945342 The subject property is listed at $90 psf (per square foot). The average sold price was $83 psf with a range of $54 to $94 psf. The average days on market were low at 34 days. I think the property is priced within the market range but that there is probably room to negotiate on price. We can set up an automated search for properties that meet your search terms. Just let us know what you are looking for and we can do the rest. http://www.huntsville-homes.com/Automatedrealestatesearch We thought you may have an interest in two excellent resources for researching schools http://www.schooldigger.com/go/AL/search.aspx and http://www.greatschools.net/modperl/go/AL.
Huntsville AL real estate for sale.
Valley Huntsville AL MLS
Valley HUntsville AL MLS Huntsville AL MLS
Valley MLS Huntsville's public MLS website has limited features, is slow and can be difficult to use.
If you have trouble or aren’t sure where to start please follow the second link or just send us an email letting us know what you are looking for. philipwinburn@mchsi.com
Continue to public search portal.
Automated Huntsville MLS search.
Specialty Quick Searches;
Foreclosures
Short Sales
In Ground Pool
Equestrian Property
Storm Shelter
Huntsville / Madison County Cotton Boll (seed pod of the plant)
Valley MLS Huntsville's public MLS website has limited features, is slow and can be difficult to use.
If you have trouble or aren’t sure where to start please follow the second link or just send us an email letting us know what you are looking for. philipwinburn@mchsi.com
Continue to public search portal.
Automated Huntsville MLS search.
Specialty Quick Searches;
Foreclosures
Short Sales
In Ground Pool
Equestrian Property
Storm Shelter
Huntsville / Madison County Cotton Boll (seed pod of the plant)
Sunday, August 12, 2012
huntsville al homes for sale
Huntsville AL MLS / Huntsville AL homes for sale Education Opportunities
August 12th, 2012 2:38 PM
Huntsville AL MLS / Huntsville AL homes for sale Education OpportunitiesYou're invited to an educational event for members of the North Alabama MLS to learn about Internet advertising and the powerful tools available through our partnership with ListHub that will give you a competitive edge in 2012. Do you use your Internet advertising plan to get more listings? Do your sellers know how many consumers visited and inquired about their listing online? Do you want to harness the power of over 50 major Web sites like Realtor.com and Yahoo! to get more traffic to your Web site? Date: Friday, August 24, 2012 Time: 10:30 AM - 11:30 AM Location: North Alabama MLS 535 Monroe Street Huntsville, AL 35801 ListHub specializes in online advertising and reporting on advertising results. Today, they manage the listing inventory for thousands and thousands of real estate companies nationwide. And, ListHub's Online Marketing Reports have been dramatically updated in recent months to now include traffic from REALTOR.com, along with expanded data from Zillow/Yahoo! and a variety of additional sites! Join us for this informative session. A ListHub product expert will come to present important tips for capturing the interest of millions of online consumers. Research shows that the largest pool of qualified buyers is on the Internet. You will learn simple tips for capturing these leads and turning them into buyers and you'll learn how easy it is to keep your sellers informed of the interest their property is generating online! ListHub can provide you with the tools and information to stay one step ahead of your competitors. Don't miss it! Register Today! http://events.r20.constantcontact.com/register/event?oeidk=a07e6667zlk38212843&llr=dalefsdab
REALTY INSTITUTE Leaders in real estate education for nearly 3 decades! #94689 REALTY INSTITUTE IS APPROVED TO OFFER CONTINUING EDUCATION COURSES IN ALABAMA. WE ARE LISTED ON THE STATE OF ALABAMA'S CMAP EDUCATION SYSTEM. We notify the state of your completion. We are pleased to offer our new 15 hr. continuing education online courses including the most up to date information on subjects interesting to real estate professionals. These courses do not require any graded exams. over 25 years experience developing courses. Includes 3 hrs. of Risk Management ONLY $90.00 Introductory Price Included in this specially priced 15 hr package Fair Housing-3 hrs. Approval #625 Risk Management-3 hrs. Approval #660 Environmental Concerns-3 hrs. App. #626 From Contract to Closing-3 hrs. App. #627 R.E. Financing-3 hrs. Approval #629 Complete your 15 hrs of education by 9 30 12 www.realtyinstitute.net
Huntsville AL MLS Search the Huntsville AL MLS (No registration required) Request free automated real estate search for Huntsville AL homes for sale. Get your home's market value and receive continuous market updates of neighborhood values.
CE Schedule 2012
August Classes $35 each or 5 Classes for $150 (NEW Beach Classes at the bottom) For a complete listing of these classes visit our website at www.esbrooks.info THANKS 2-day Pre-Registration is Required Payment can be made at the door. Lack of Pre-Registration could result in the class being CANCELLED. 2 Day Cram CE Session August 16, 2012 *9:00 am Real Estate Contracts, Instructor Attorney Craig Paulus will discuss contract drafting. *12:30 pm Clients for Life, Never work with strangers again. Discover a plan for follow up with past clients and keeping in contact with your SOI that will work for you. This class will present an overview of the benefits clients need and pivotal points of interest for each transaction. Instructor: Melanie Brooks *4:00 pm Code of Ethics, Instructor: Ev Brooks. This class is required by NAR, and accepted as an elective by the Alabama Real Estate Commission. It is an overview of the “Code” plus a discussion on key issues. August 17, 2012 *9:00 am Risk Management, Achieve that delicate balance needed to keep you out of trouble. Instructor: Ev Brooks. *12:30 pm Effective Communication with Sellers, What to say, when to say and how to say it all! Understanding what is expected by the licensee to the client is key. Being able to effectively explain the ins and outs of the real estate process is a must. If everything is explained in the beginning of the relationship many problems can be avoided. During the listing presentation is the perfect opportunity to express your professionalism. Instructor: Melanie Brooks. Thursday Evening Class August 23, 2012 5:30-8:30 Code of Ethics, This class is required by NAR, and accepted as an elective by the Alabama Real Estate Commission. It is an overview of the "Code" plus a discussion on key issues withEv Brooks. New Class! August 29, 2012 * 9 am Personality Profiles, We explore the 4 basic personality types. Once you understand "who" you are dealing with and "what" they expect you will know "how" to effectively communicate with your clients. * Free Lunch Provided by Nathan Smith of Cadence Bank, Huntsville * 12:30 pm Financing with John Herzog of Cadence Bank, John is a sought after speaker on mortgages, foreclosures and short sales. We are pleased to have him speak at our school. September Classes $40 each or 5 Classes for $200 September- 2 Day Cram CE Session September 13 & 14, 2012 * 15 hour cram session Includes Risk Management and Code of Ethics September 20 & 21, 2012 * 15 hour cram session Includes Risk Management and Code of Ethics 2-day Pre-Registration is Required Payment can be made at the door. Lack of Pre-Registration could result in the class being CANCELLED. Huntsville CE Classes are at E S Brooks School of Real Estate 2312 Memorial Parkway Suite J, 35801 To Register for any class, click here melaniebrooks123@gmail.com No Time for Classroom CE? Do it all Online at www.esbrooks.info Rules Regarding Continuing Education per the Alabama Real Estate Commission are as follows: 100 % attendance is required, therefore late entries or early exits will result in not receiving CE credit Your real estate number is required to receive CE credit, please have it with you 3 Hours of Risk Management is the REQUIRED course License Renewal Fees must be paid by August 31, 2012 15 hours of CE must be completed by September 30, 2012 Save The Date! $150 for all 15 hours or $40 per class 2-day Pre-Registration is Required Orange Beach Golf Course Meeting Room 4000 Easy Street (off Canal Road) Orange Beach, AL 36561 251-981-4653 to register email melaniebrooks123@gmail.com Friday, Sept 7 9 am Risk Management 12:30 pm Real Estate Contracts 3:45 pm Real Estate Update Saturday, Sept 8 9 am Personality Profiles 12:30 pm Code of Ethics For a complete list of classes and descriptions, please visit our website at www.esbrooks.info 2312 Memorial Parkway, Suite J, Huntsville AL 35801 256-539-3136 1-888-228-7760 melanie@esbrooks.com www.esbrooks.info
August 12th, 2012 2:38 PM
Huntsville AL MLS / Huntsville AL homes for sale Education OpportunitiesYou're invited to an educational event for members of the North Alabama MLS to learn about Internet advertising and the powerful tools available through our partnership with ListHub that will give you a competitive edge in 2012. Do you use your Internet advertising plan to get more listings? Do your sellers know how many consumers visited and inquired about their listing online? Do you want to harness the power of over 50 major Web sites like Realtor.com and Yahoo! to get more traffic to your Web site? Date: Friday, August 24, 2012 Time: 10:30 AM - 11:30 AM Location: North Alabama MLS 535 Monroe Street Huntsville, AL 35801 ListHub specializes in online advertising and reporting on advertising results. Today, they manage the listing inventory for thousands and thousands of real estate companies nationwide. And, ListHub's Online Marketing Reports have been dramatically updated in recent months to now include traffic from REALTOR.com, along with expanded data from Zillow/Yahoo! and a variety of additional sites! Join us for this informative session. A ListHub product expert will come to present important tips for capturing the interest of millions of online consumers. Research shows that the largest pool of qualified buyers is on the Internet. You will learn simple tips for capturing these leads and turning them into buyers and you'll learn how easy it is to keep your sellers informed of the interest their property is generating online! ListHub can provide you with the tools and information to stay one step ahead of your competitors. Don't miss it! Register Today! http://events.r20.constantcontact.com/register/event?oeidk=a07e6667zlk38212843&llr=dalefsdab
REALTY INSTITUTE Leaders in real estate education for nearly 3 decades! #94689 REALTY INSTITUTE IS APPROVED TO OFFER CONTINUING EDUCATION COURSES IN ALABAMA. WE ARE LISTED ON THE STATE OF ALABAMA'S CMAP EDUCATION SYSTEM. We notify the state of your completion. We are pleased to offer our new 15 hr. continuing education online courses including the most up to date information on subjects interesting to real estate professionals. These courses do not require any graded exams. over 25 years experience developing courses. Includes 3 hrs. of Risk Management ONLY $90.00 Introductory Price Included in this specially priced 15 hr package Fair Housing-3 hrs. Approval #625 Risk Management-3 hrs. Approval #660 Environmental Concerns-3 hrs. App. #626 From Contract to Closing-3 hrs. App. #627 R.E. Financing-3 hrs. Approval #629 Complete your 15 hrs of education by 9 30 12 www.realtyinstitute.net
Huntsville AL MLS Search the Huntsville AL MLS (No registration required) Request free automated real estate search for Huntsville AL homes for sale. Get your home's market value and receive continuous market updates of neighborhood values.
CE Schedule 2012
August Classes $35 each or 5 Classes for $150 (NEW Beach Classes at the bottom) For a complete listing of these classes visit our website at www.esbrooks.info THANKS 2-day Pre-Registration is Required Payment can be made at the door. Lack of Pre-Registration could result in the class being CANCELLED. 2 Day Cram CE Session August 16, 2012 *9:00 am Real Estate Contracts, Instructor Attorney Craig Paulus will discuss contract drafting. *12:30 pm Clients for Life, Never work with strangers again. Discover a plan for follow up with past clients and keeping in contact with your SOI that will work for you. This class will present an overview of the benefits clients need and pivotal points of interest for each transaction. Instructor: Melanie Brooks *4:00 pm Code of Ethics, Instructor: Ev Brooks. This class is required by NAR, and accepted as an elective by the Alabama Real Estate Commission. It is an overview of the “Code” plus a discussion on key issues. August 17, 2012 *9:00 am Risk Management, Achieve that delicate balance needed to keep you out of trouble. Instructor: Ev Brooks. *12:30 pm Effective Communication with Sellers, What to say, when to say and how to say it all! Understanding what is expected by the licensee to the client is key. Being able to effectively explain the ins and outs of the real estate process is a must. If everything is explained in the beginning of the relationship many problems can be avoided. During the listing presentation is the perfect opportunity to express your professionalism. Instructor: Melanie Brooks. Thursday Evening Class August 23, 2012 5:30-8:30 Code of Ethics, This class is required by NAR, and accepted as an elective by the Alabama Real Estate Commission. It is an overview of the "Code" plus a discussion on key issues withEv Brooks. New Class! August 29, 2012 * 9 am Personality Profiles, We explore the 4 basic personality types. Once you understand "who" you are dealing with and "what" they expect you will know "how" to effectively communicate with your clients. * Free Lunch Provided by Nathan Smith of Cadence Bank, Huntsville * 12:30 pm Financing with John Herzog of Cadence Bank, John is a sought after speaker on mortgages, foreclosures and short sales. We are pleased to have him speak at our school. September Classes $40 each or 5 Classes for $200 September- 2 Day Cram CE Session September 13 & 14, 2012 * 15 hour cram session Includes Risk Management and Code of Ethics September 20 & 21, 2012 * 15 hour cram session Includes Risk Management and Code of Ethics 2-day Pre-Registration is Required Payment can be made at the door. Lack of Pre-Registration could result in the class being CANCELLED. Huntsville CE Classes are at E S Brooks School of Real Estate 2312 Memorial Parkway Suite J, 35801 To Register for any class, click here melaniebrooks123@gmail.com No Time for Classroom CE? Do it all Online at www.esbrooks.info Rules Regarding Continuing Education per the Alabama Real Estate Commission are as follows: 100 % attendance is required, therefore late entries or early exits will result in not receiving CE credit Your real estate number is required to receive CE credit, please have it with you 3 Hours of Risk Management is the REQUIRED course License Renewal Fees must be paid by August 31, 2012 15 hours of CE must be completed by September 30, 2012 Save The Date! $150 for all 15 hours or $40 per class 2-day Pre-Registration is Required Orange Beach Golf Course Meeting Room 4000 Easy Street (off Canal Road) Orange Beach, AL 36561 251-981-4653 to register email melaniebrooks123@gmail.com Friday, Sept 7 9 am Risk Management 12:30 pm Real Estate Contracts 3:45 pm Real Estate Update Saturday, Sept 8 9 am Personality Profiles 12:30 pm Code of Ethics For a complete list of classes and descriptions, please visit our website at www.esbrooks.info 2312 Memorial Parkway, Suite J, Huntsville AL 35801 256-539-3136 1-888-228-7760 melanie@esbrooks.com www.esbrooks.info
Saturday, August 11, 2012
huntsville homes for sale; consider renting until market corrects
Huntsville AL homes for sale; Market review, consider renting until market corrects
August 11th, 2012 2:46 PM
Happy to oblige on the market study. The link below is to the listing where you purchased the property 8/24/07 at $222,184 ($76 psf) with seller paying $1,000 in purchasers closing costs.,
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110015585
The link below is to a summary of MLS activity in the neighborhood of two-story properties in the past twelve months.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110015595
The average sold price was $71 psf with a range of $67 to $73 psf. The average days on market were high at 223 days with a range of 71 to 409 days on market. The long days on market is an indication that the market probably won't bear higher prices at present. There is one active listing at $75 psf and two listings that were withdrawn without selling that were listed at $73 and $64 psf. They were on market 763 and 349 days.
You stated that you owe $224,000. Assuming standard brokers fees, transactions costs and $1,000 contribution to purchaser closing costs, your breakeven point on a sale will be in the $261,000 range.
The link below is to properties in the area in that price range.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110015647
The data is not encouraging for selling.
The link below is to the listings of huntsville al homes for sale.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110015614
The rental listing history is a little puzzling. The older listing indicates the property was rented at $1,850 on 11/21/07 which seems above what the market would bear. The current active listing's history shows the property active as a rental at $1,550 from 5/28/09 to 9/25/09 (379 days) when the price was changed to $1,600. Did the property rent for $1,850?
273718m
06/11/09
UPD
RNT
5X
105 GREY MARE STREET
AUGUST
$1,600
379
88800
09/25/08
UPD
5X
AUGUST
$1,550
120
88800
06/30/08
UPD
5X
AUGUST
$1,550
33
88800
06/30/08
UPD
5X
AUGUST
$1,550
33
88800
06/25/08
UPD
5X
AUGUST
$1,550
28
88800
06/09/08
UPD
5X
AUGUST
$1,550
12
88800
06/09/08
UPD
5X
AUGUST
$1,550
12
88800
05/30/08
PHT
5X
$1,550
0
88800
05/28/08
ACT
5X
AUGUST
$1,550
0
88800
2
251872m
11/21/07
UPD
RNT
5X
105 GREY MARE STREET
$1,850
86
88800
11/21/07
UPD
5X
$1,850
86
88800
11/15/07
UPD
5X
$1,850
80
88800
11/14/07
UPD
5X
$1,850
79
88800
08/27/07
PHT
5X
$1,850
88800
08/27/07
ACT
5X
$1,850
88800
The link below is to rental property in the area that might be comparable to yours. Note that there are two other active rental listings in the same neighborhood as your property.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110015658
Without seeing the house my best estimate is that the market rent would be nearer the $1,500 range
Search Criteria: county= Madisonprop_type= SFDstatus= ACT, CNT, PND, SLD and <> XF((status date >= 01-Aug-2011) and status in (R,S,X,W,K,L) or status in (A,M,P,T,V,C,AC,H))(subdivision like WILLIAMSBURG VILLAGE) Properties Currently for Sale Addr: 3816 MASTIN LAKE ROAD MLS#: 511152 A #1 City/Area: HUNTSVILLE/HN PropType: SF List Price: $59,000 Sold Price: $0 $/Sqft: $34.97 Beds: 4 Baths: 2 AprxSqFt: 1,687 Lot: 80X146 SldDate: Acres: 0.33 AprxAge: Unknwn Fireplc: One, GasLog DOM: N/A ElemSch: W.MASTIN Mid: DAV-M High: JOHN Subdivision: WILLIAMSBURG VILLAGE Features: SL Frame, 1/4Brick CookTop, Oven None Deck, CvrdPati Agent Comments: Remarks: NICE HARDWOOD FLOORS IN THE LIVING ROOM, DINING ROOM AND 3 BEDROOMS. TILE FLOORS IN THE KITCHEN AND BATHS. Addr: 3723 JAMESTOWN ROAD MLS#: 874672 A #2 City/Area: HUNTSVILLE/HN PropType: SF List Price: $59,900 Sold Price: $0 $/Sqft: $32.38 Beds: 4 Baths: 2 AprxSqFt: 1,850 Lot: 86X140 SldDate: Acres: 0.2764 AprxAge: 26-49Yr Fireplc: None DOM: N/A ElemSch: W.MASTIN Mid: EDWHIT High: JOHN Subdivision: WILLIAMSBURG VILLAGE Features: 2S 1/2Brick Rng/Ovn 1CarGar Patio, Curb/Gut Agent Comments: Remarks: Investors Special!!! This 4 bedroom home in a well established neighborhood and can be restored to its original beauty with a little TLC! Wont last long :) --Information deemed reliable but not guaranteed--Copyright: 2012 by NALMLS, Inc. WWW.HuntsvilleRealty.NET Prepared by Philip Winburn on 8/11/2012 Properties Currently for Sale Addr: 3814 JAMESTOWN ROAD MLS#: 697997 A #3 City/Area: HUNTSVILLE/HN PropType: SF List Price: $89,900 Sold Price: $0 $/Sqft: $49.83 Beds: 4 Baths: 3 AprxSqFt: 1,804 Lot: 80X140 SldDate: Acres: 0.25712 AprxAge: 26-49Yr Fireplc: None DOM: N/A ElemSch: W.MASTIN Mid: DAV-M High: JOHN Subdivision: WILLIAMSBURG VILLAGE Features: 2S Frame, 1/2Brick CookTop, Oven, Dshwsh 1CarGar, AttGar Patio, TreedLot, Curb/Gut, Sidewalk Agent Comments: Remarks: Home has been renovated with new paint, vinyl and a kitchen with granite countertops plus a tiled backsplash. Hardwood floors have been resurfaced. New roof and some new landscaping. Some new mirrors and fixtures. Level fenced in backyard. Properties Recently Sold Addr: 3814 MASTIN LAKE ROAD MLS#: 539161 S #4 City/Area: HUNTSVILLE/HN PropType: SF List Price: $43,000 Sold Price: $43,000 $/Sqft: $26.71 Beds: 4 Baths: 2 AprxSqFt: 1,610 Lot: 80 X146 SldDate: 06/22/2012 Acres: 0.26814 AprxAge: 26-49Yr Fireplc: None DOM: 15 ElemSch: W.MASTIN Mid: DAV-M High: JOHN Subdivision: WILLIAMSBURG VILLAGE Features: SL Frame Rng/Ovn, Disposl None Patio, Deck, Porch, TreedLot, Curb/Gut, Sidewalk Seller Paid Costs: $0 Seller Paid Points: $0 Agent Comments: Remarks: WOW, good curb appeal, great floor plan and ample space for everyone in this 4 bedroom home. Home recently freshened with paint and carpet. Lower level features a bedroom, rec room, laundry room and a private office. Entertain in the spacious treed yard from the lower patio or upper level deck. Ready for a new owner today so don't miss out on this charming home. Call for your appointment today and start packing tomorrow. --Information deemed reliable but not guaranteed--Copyright: 2012 by NALMLS, Inc. WWW.HuntsvilleRealty.NET Prepared by Philip Winburn on 8/11/2012 Comparable Property Statistics Active properties Total # of Listings 3 Lowest Price Listing $59,000 Highest Price Listing $89,900 Average Price $69,600 Avg. Price/SqFt $39 Avg. Days on Market 0 -------------------------------------------------------------------------------- Sold properties Total # of Listings 1 Lowest Price Listing $43,000 Highest Price Listing $43,000 Average Price $43,000 Avg. Price/SqFt $27 Avg. Days on Market 15 --Information deemed reliable but not guaranteed--Copyright: 2012 by NALMLS, Inc. WWW.HuntsvilleRealty.NET Prepared by Philip Winburn on 8/11/2012 Homes for Sale Huntsville Homes for sale Huntsville; Search the Huntsville Al MLS for homes for sale in Huntsville Al at www.HomesForSaleHuntsville.net
Cumulative AnalysisListing Category Lowest Price Highest Price Average Price Avg Price/Sqft Active $59,000 $89,900 $69,600 $39 Sold $43,000 $43,000 $43,000 $27 Total $43,000 $89,900 $62,950 $36 Sold Property AnalysisAddress List Price Sold Price DOM % Chg SP/Sqft 3814 MASTIN LAKE ROAD $43,000 $43,000 15 0.0% $26.71 Total Averages $43,000 $43,000 15 0.0% $27 --Information deemed reliable but not guaranteed--Copyright: 2012 by NALMLS, Inc. WWW.HuntsvilleRealty.NET Prepared by Philip Winburn on 8/11/2012 Property Summary . Sta Street Address Bed Baths SqFt Aprx. Age L Price S Price Sold Date DOM 1 A 3816 MASTIN LAKE ROAD 4 2 1,687 Unknwn $59,000 $0 N/A 2 A 3723 JAMESTOWN ROAD 4 2 1,850 26-49Yr $59,900 $0 N/A 3 A 3814 JAMESTOWN ROAD 4 3 1,804 26-49Yr $89,900 $0 N/A 4 S 3814 MASTIN LAKE ROAD 4 2 1,610 26-49Yr $43,000 $43,000 06/22/2012 15 --Information deemed reliable but not guaranteed--Copyright: 2012 by NALMLS, Inc. WWW.HuntsvilleRealty.NET Prepared by Philip Winburn on 8/11/2012 WWW.HuntsvilleRealty.NET Prepared by Philip Winburn on 8/11/2012
August 11th, 2012 2:46 PM
Happy to oblige on the market study. The link below is to the listing where you purchased the property 8/24/07 at $222,184 ($76 psf) with seller paying $1,000 in purchasers closing costs.,
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110015585
The link below is to a summary of MLS activity in the neighborhood of two-story properties in the past twelve months.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110015595
The average sold price was $71 psf with a range of $67 to $73 psf. The average days on market were high at 223 days with a range of 71 to 409 days on market. The long days on market is an indication that the market probably won't bear higher prices at present. There is one active listing at $75 psf and two listings that were withdrawn without selling that were listed at $73 and $64 psf. They were on market 763 and 349 days.
You stated that you owe $224,000. Assuming standard brokers fees, transactions costs and $1,000 contribution to purchaser closing costs, your breakeven point on a sale will be in the $261,000 range.
The link below is to properties in the area in that price range.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110015647
The data is not encouraging for selling.
The link below is to the listings of huntsville al homes for sale.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110015614
The rental listing history is a little puzzling. The older listing indicates the property was rented at $1,850 on 11/21/07 which seems above what the market would bear. The current active listing's history shows the property active as a rental at $1,550 from 5/28/09 to 9/25/09 (379 days) when the price was changed to $1,600. Did the property rent for $1,850?
273718m
06/11/09
UPD
RNT
5X
105 GREY MARE STREET
AUGUST
$1,600
379
88800
09/25/08
UPD
5X
AUGUST
$1,550
120
88800
06/30/08
UPD
5X
AUGUST
$1,550
33
88800
06/30/08
UPD
5X
AUGUST
$1,550
33
88800
06/25/08
UPD
5X
AUGUST
$1,550
28
88800
06/09/08
UPD
5X
AUGUST
$1,550
12
88800
06/09/08
UPD
5X
AUGUST
$1,550
12
88800
05/30/08
PHT
5X
$1,550
0
88800
05/28/08
ACT
5X
AUGUST
$1,550
0
88800
2
251872m
11/21/07
UPD
RNT
5X
105 GREY MARE STREET
$1,850
86
88800
11/21/07
UPD
5X
$1,850
86
88800
11/15/07
UPD
5X
$1,850
80
88800
11/14/07
UPD
5X
$1,850
79
88800
08/27/07
PHT
5X
$1,850
88800
08/27/07
ACT
5X
$1,850
88800
The link below is to rental property in the area that might be comparable to yours. Note that there are two other active rental listings in the same neighborhood as your property.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110015658
Without seeing the house my best estimate is that the market rent would be nearer the $1,500 range
Search Criteria: county= Madisonprop_type= SFDstatus= ACT, CNT, PND, SLD and <> XF((status date >= 01-Aug-2011) and status in (R,S,X,W,K,L) or status in (A,M,P,T,V,C,AC,H))(subdivision like WILLIAMSBURG VILLAGE) Properties Currently for Sale Addr: 3816 MASTIN LAKE ROAD MLS#: 511152 A #1 City/Area: HUNTSVILLE/HN PropType: SF List Price: $59,000 Sold Price: $0 $/Sqft: $34.97 Beds: 4 Baths: 2 AprxSqFt: 1,687 Lot: 80X146 SldDate: Acres: 0.33 AprxAge: Unknwn Fireplc: One, GasLog DOM: N/A ElemSch: W.MASTIN Mid: DAV-M High: JOHN Subdivision: WILLIAMSBURG VILLAGE Features: SL Frame, 1/4Brick CookTop, Oven None Deck, CvrdPati Agent Comments: Remarks: NICE HARDWOOD FLOORS IN THE LIVING ROOM, DINING ROOM AND 3 BEDROOMS. TILE FLOORS IN THE KITCHEN AND BATHS. Addr: 3723 JAMESTOWN ROAD MLS#: 874672 A #2 City/Area: HUNTSVILLE/HN PropType: SF List Price: $59,900 Sold Price: $0 $/Sqft: $32.38 Beds: 4 Baths: 2 AprxSqFt: 1,850 Lot: 86X140 SldDate: Acres: 0.2764 AprxAge: 26-49Yr Fireplc: None DOM: N/A ElemSch: W.MASTIN Mid: EDWHIT High: JOHN Subdivision: WILLIAMSBURG VILLAGE Features: 2S 1/2Brick Rng/Ovn 1CarGar Patio, Curb/Gut Agent Comments: Remarks: Investors Special!!! This 4 bedroom home in a well established neighborhood and can be restored to its original beauty with a little TLC! Wont last long :) --Information deemed reliable but not guaranteed--Copyright: 2012 by NALMLS, Inc. WWW.HuntsvilleRealty.NET Prepared by Philip Winburn on 8/11/2012 Properties Currently for Sale Addr: 3814 JAMESTOWN ROAD MLS#: 697997 A #3 City/Area: HUNTSVILLE/HN PropType: SF List Price: $89,900 Sold Price: $0 $/Sqft: $49.83 Beds: 4 Baths: 3 AprxSqFt: 1,804 Lot: 80X140 SldDate: Acres: 0.25712 AprxAge: 26-49Yr Fireplc: None DOM: N/A ElemSch: W.MASTIN Mid: DAV-M High: JOHN Subdivision: WILLIAMSBURG VILLAGE Features: 2S Frame, 1/2Brick CookTop, Oven, Dshwsh 1CarGar, AttGar Patio, TreedLot, Curb/Gut, Sidewalk Agent Comments: Remarks: Home has been renovated with new paint, vinyl and a kitchen with granite countertops plus a tiled backsplash. Hardwood floors have been resurfaced. New roof and some new landscaping. Some new mirrors and fixtures. Level fenced in backyard. Properties Recently Sold Addr: 3814 MASTIN LAKE ROAD MLS#: 539161 S #4 City/Area: HUNTSVILLE/HN PropType: SF List Price: $43,000 Sold Price: $43,000 $/Sqft: $26.71 Beds: 4 Baths: 2 AprxSqFt: 1,610 Lot: 80 X146 SldDate: 06/22/2012 Acres: 0.26814 AprxAge: 26-49Yr Fireplc: None DOM: 15 ElemSch: W.MASTIN Mid: DAV-M High: JOHN Subdivision: WILLIAMSBURG VILLAGE Features: SL Frame Rng/Ovn, Disposl None Patio, Deck, Porch, TreedLot, Curb/Gut, Sidewalk Seller Paid Costs: $0 Seller Paid Points: $0 Agent Comments: Remarks: WOW, good curb appeal, great floor plan and ample space for everyone in this 4 bedroom home. Home recently freshened with paint and carpet. Lower level features a bedroom, rec room, laundry room and a private office. Entertain in the spacious treed yard from the lower patio or upper level deck. Ready for a new owner today so don't miss out on this charming home. Call for your appointment today and start packing tomorrow. --Information deemed reliable but not guaranteed--Copyright: 2012 by NALMLS, Inc. WWW.HuntsvilleRealty.NET Prepared by Philip Winburn on 8/11/2012 Comparable Property Statistics Active properties Total # of Listings 3 Lowest Price Listing $59,000 Highest Price Listing $89,900 Average Price $69,600 Avg. Price/SqFt $39 Avg. Days on Market 0 -------------------------------------------------------------------------------- Sold properties Total # of Listings 1 Lowest Price Listing $43,000 Highest Price Listing $43,000 Average Price $43,000 Avg. Price/SqFt $27 Avg. Days on Market 15 --Information deemed reliable but not guaranteed--Copyright: 2012 by NALMLS, Inc. WWW.HuntsvilleRealty.NET Prepared by Philip Winburn on 8/11/2012 Homes for Sale Huntsville Homes for sale Huntsville; Search the Huntsville Al MLS for homes for sale in Huntsville Al at www.HomesForSaleHuntsville.net
Cumulative AnalysisListing Category Lowest Price Highest Price Average Price Avg Price/Sqft Active $59,000 $89,900 $69,600 $39 Sold $43,000 $43,000 $43,000 $27 Total $43,000 $89,900 $62,950 $36 Sold Property AnalysisAddress List Price Sold Price DOM % Chg SP/Sqft 3814 MASTIN LAKE ROAD $43,000 $43,000 15 0.0% $26.71 Total Averages $43,000 $43,000 15 0.0% $27 --Information deemed reliable but not guaranteed--Copyright: 2012 by NALMLS, Inc. WWW.HuntsvilleRealty.NET Prepared by Philip Winburn on 8/11/2012 Property Summary . Sta Street Address Bed Baths SqFt Aprx. Age L Price S Price Sold Date DOM 1 A 3816 MASTIN LAKE ROAD 4 2 1,687 Unknwn $59,000 $0 N/A 2 A 3723 JAMESTOWN ROAD 4 2 1,850 26-49Yr $59,900 $0 N/A 3 A 3814 JAMESTOWN ROAD 4 3 1,804 26-49Yr $89,900 $0 N/A 4 S 3814 MASTIN LAKE ROAD 4 2 1,610 26-49Yr $43,000 $43,000 06/22/2012 15 --Information deemed reliable but not guaranteed--Copyright: 2012 by NALMLS, Inc. WWW.HuntsvilleRealty.NET Prepared by Philip Winburn on 8/11/2012 WWW.HuntsvilleRealty.NET Prepared by Philip Winburn on 8/11/2012
Huntsville Al real estate; sales up from 2011
Huntsville AL real estate; New home sales up almost 7% from 2011
August 11th, 2012 11:38 AM
Source; ACRE New Construction Monthly Report
Alabama new home sales during the 2nd quarter of 2012 were 6.6 percent higher than the same period in 2011. Year-to-date (YTD) through June, sales are up 8.7 percent from 2011. June residential sales in Alabama experienced a growth rate of 6.0 percent when compared to June 2011. June new home sales in Alabama's five metro markets, representing approximately seventy percent of all statewide transactions, experienced a 16.6 percent increase from the prior month. Sixty percent of metro areas have experienced YTD increase in new home sales compared to 2011 with Montgomery (up 46%) posting the best results followed by Birmingham (25%) and Tuscaloosa (17%). YTD new home sales have declined in Mobile (down 23%) and for Huntsville AL real estate (down 5%). Demand: In June, Alabama new home sales outperformed the US market which reflected an increase of 15.1 percent from June 2011 but an 8.4 percent decline from the prior month, according to the US Census Bureau & HUD. The release also reported that the results from the South region were up 6.5 percent from June 2011 but 8.6 percent down last month. Supply: Statewide new construction inventory has declined by approximately 13 percent from last June which is consistent with US trend (down 24%). All metro markets have experienced reductions in inventory since June 2011. Birmingham (down 20%), Mobile (-10%) and Tuscaloosa (-9%) led the state in inventory reduction. Alabama's metro markets in June reflect 4.1 months of new home supply, a significant improvement from 4.9 months of supply in June 2011 and down from 4.9 months from May 2012. According to the US Census Bureau, the US inventory of new homes for sale decreased to 144,000 homes or 4.9 months' supply, also a big improvement from 6.6 months of supply in June 2011 (down 25%). Pricing: Alabama's metro market's median new home sales price in June was $226,766, an increase of 8.2 percent from last month and an increase of 13.9% when compared to June 2011. View full sizeAL YTD residential building permits rise 6.2% from 2011. Infograph courtesy of ACRE. All rights reserved. New Home Pipeline (see graph): June statewide housing starts increased by .6 percent from the prior month and increased 7.8 percent from June 2011. YTD housing starts are up 4.3%. June statewide building permits were down 6.2 percent from the prior month and 2.2 percent from May 2011. YTD building permits are up 6.2%. Residential Construction Employment: According to the Alabama Dept. of Industrial Relations, statewide residential construction employment was up .2 percent (100 jobs) to 60,800 from last month but remains down 8.9 percent or 6,000 workers from June. Local Results: 8 out of the 27 home builder associations (30% - down from 37% in prior month) reported gains in building permits from the prior month (May 2012) while 10 associations (37% - down from 70%) reported gains in housing starts. Favorable weather conditions have positively impacted new home construction in recent months. The new home industry is expected to gradually improve in 2012 and beyond as the general consensus is that the worst market conditions are in the rearview mirror. One caveat, weak overall US job creation and uncertainty resulting from Europe financial crisis and upcoming general election (future US fiscal path) continue to give industry watchers reason for significant concern. 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.
Huntsville AL MLS Search the Huntsville AL MLS (No registration required) Request free automated real estate search. Get your home's market value and receive continuous market updates of neighborhood values.
August 11th, 2012 11:38 AM
Source; ACRE New Construction Monthly Report
Alabama new home sales during the 2nd quarter of 2012 were 6.6 percent higher than the same period in 2011. Year-to-date (YTD) through June, sales are up 8.7 percent from 2011. June residential sales in Alabama experienced a growth rate of 6.0 percent when compared to June 2011. June new home sales in Alabama's five metro markets, representing approximately seventy percent of all statewide transactions, experienced a 16.6 percent increase from the prior month. Sixty percent of metro areas have experienced YTD increase in new home sales compared to 2011 with Montgomery (up 46%) posting the best results followed by Birmingham (25%) and Tuscaloosa (17%). YTD new home sales have declined in Mobile (down 23%) and for Huntsville AL real estate (down 5%). Demand: In June, Alabama new home sales outperformed the US market which reflected an increase of 15.1 percent from June 2011 but an 8.4 percent decline from the prior month, according to the US Census Bureau & HUD. The release also reported that the results from the South region were up 6.5 percent from June 2011 but 8.6 percent down last month. Supply: Statewide new construction inventory has declined by approximately 13 percent from last June which is consistent with US trend (down 24%). All metro markets have experienced reductions in inventory since June 2011. Birmingham (down 20%), Mobile (-10%) and Tuscaloosa (-9%) led the state in inventory reduction. Alabama's metro markets in June reflect 4.1 months of new home supply, a significant improvement from 4.9 months of supply in June 2011 and down from 4.9 months from May 2012. According to the US Census Bureau, the US inventory of new homes for sale decreased to 144,000 homes or 4.9 months' supply, also a big improvement from 6.6 months of supply in June 2011 (down 25%). Pricing: Alabama's metro market's median new home sales price in June was $226,766, an increase of 8.2 percent from last month and an increase of 13.9% when compared to June 2011. View full sizeAL YTD residential building permits rise 6.2% from 2011. Infograph courtesy of ACRE. All rights reserved. New Home Pipeline (see graph): June statewide housing starts increased by .6 percent from the prior month and increased 7.8 percent from June 2011. YTD housing starts are up 4.3%. June statewide building permits were down 6.2 percent from the prior month and 2.2 percent from May 2011. YTD building permits are up 6.2%. Residential Construction Employment: According to the Alabama Dept. of Industrial Relations, statewide residential construction employment was up .2 percent (100 jobs) to 60,800 from last month but remains down 8.9 percent or 6,000 workers from June. Local Results: 8 out of the 27 home builder associations (30% - down from 37% in prior month) reported gains in building permits from the prior month (May 2012) while 10 associations (37% - down from 70%) reported gains in housing starts. Favorable weather conditions have positively impacted new home construction in recent months. The new home industry is expected to gradually improve in 2012 and beyond as the general consensus is that the worst market conditions are in the rearview mirror. One caveat, weak overall US job creation and uncertainty resulting from Europe financial crisis and upcoming general election (future US fiscal path) continue to give industry watchers reason for significant concern. 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.
Huntsville AL MLS Search the Huntsville AL MLS (No registration required) Request free automated real estate search. Get your home's market value and receive continuous market updates of neighborhood values.
Friday, August 10, 2012
Huntsville real estate; crawl space moisture
Huntsville real estate; Is Crawl Space Encapsulation Right For You, Your Client or Your Situation?
August 10th, 2012 8:05 PM
Is Crawl Space Encapsulation Right For You, Your Client or Your Situation? Source: James A. "Buck" Durham, P.E. Now that summer is in full swing, you may find home inspectors telling you and your clients that they've found wet conditions in the crawl space area beneath a home. Since this is usually the dry time of the year, then more than likely, the wet conditions are related to high humidity rather than water seepage into the crawl space. The most common source of humidity inside a crawl space is related to a combination of moisture vapor rising out of the uncovered ground and warm, high-humidity air entering the crawl space through the perimeter foundation vents. The first problem has long been understood and easily combated by placing a vapor barrier over the ground. The second problem is the most misunderstood problem in our industry and something you must understand and be able to explain to your clients. Whenever warm (hot), humid air enters the crawl space through the perimeter foundation vents, its temperature drops about 20 degrees or more since the temperature in the crawl space is much cooler than outside air. This lower temperature is caused by a combination of factors including air conditioning duct leakage, cold radiation from the ducts/floor above and the fact that there is no direct sunlight or massive air flow into the space. When the warm/humid air enters the crawl space, its temperature immediately drops, so it must give up its moisture and this moisture condenses on cool objects such as air conditioning ducts, the wood floor (exposed to interior air conditioning) and the ground surface. As this moisture collects over time, the humidity in the crawl space increases dramatically. One of the main problems with wet/humid crawl spaces is the formation of mold/mildew and the deterioration of the wood floor system. Wood is a hygroscopic material, meaning that it tries to reach equilibrium with the surrounding atmosphere-either absorbing moisture from high humidity air or off-gassing moisture in low humidity air. (By the way, this is why joints in wood trim/moldings located inside a house open/close throughout the year.) When exposed to high humidity, wood takes on moisture and when its moisture content reaches a certain level, it becomes a perfect host for wood inhabiting fungi which can literally destroy it. See Photo 1. The end result is a condition we call decay, rot, dote or doze. Some fungi live largely on the wood's cellulose while others feed on both Photo 1 the lignin and the cellulose. The most common fungi we see feeding on our ever popular Southern Pine floor joists is Brown Rot. After prolonged fungi attack, the floor joists take on a brown color, crack across the grain, shrink, collapse and even crush into a fine powder. Brown, crumbly rot in the dry condition is often called "dry rot" but this is really a misnomer as it takes high moisture/humidity to decay wood. The wood may later dry but the rot/decay was caused by exposure to high moisture. Another common problem with wet/humid crawl spaces is cupped hardwood flooring inside the home. Cupping, also called "washboard" is a condition where the edges of a piece of flooring (across its width) are high and the center is lower. This generally develops gradually. Moisture imbalance through the thickness of the flooring is the only cause. Moisture is greater on the bottom of the board than on the top. The moisture from the crawlspace rises up into the home due to what is called the "stack effect" and this creates high moisture conditions on the bottom face of the hardwood flooring. This in turn causes the bottom face of the hardwood boards to swell (expand) dimensionally (wood expands when wet) and this creates the cupping condition. So How Do You Prevent High Humidity In A Crawl Space? The best way is to cover the ground with a seamless vapor barrier, extend the barrier up the perimeter foundation walls, seal it to the foundation walls and cover/close-off the foundation vents. This sounds like an easy proposition until you crawl under a home and see the network of ever present obstructions caused by A/C ductwork, plumbing pipes, electrical wires, foundation piers and floor supports -- let alone the low headroom, construction debris to be removed and muddy conditions which are often present. Another important factor when sealing off a crawl space from ground and air moisture is to use a high quality vapor barrier-typically 16- or 20-mil thick polyethylene as opposed to the long standard 6-mil plastic. This material is much more resistant to snags and tears caused by crawl space traffic and the storage of materials under the home. Plus, it is imperative that the vapor barrier be completely seamless and this is accomplished by sealing all the seams/laps with heavy duty vinyl tape. The thicker the vapor barrier, the better it is for tape-sealing. After the crawl space is encapsulated, there are a host of immediate benefits. Condensation stops, mildewy odors that once permeated the home go away, mold/fungus on the floor structure go away, cupped hardwood flooring may eventually lie back down and dust/allergens/mold spores no longer seep into the home through cracks/crevices in the floor. And if the floor system is damp or wet from long term exposure to high moisture, a central dehumidifier can be placed in the crawl space to dry it out. Also and alternatively, one can insulate the perimeter foundation walls and tap into the central heating/air conditioning system ductwork and heat or cool the space under the home-oftentimes reducing the home's annual heating/cooling costs. No matter how you view it, crawl space encapsulation is the best way to go in the humid, southeastern corner of the United States. Although the Building Codes still require crawl space ventilation in new home construction, we're seeing rapid changes in the thinking of Code Officials (writers) as they now allow sealed crawl spaces if continuously operated mechanical ventilation is provided or the crawl space is insulated and provided with conditioned air. So the next time you find a wet/humid crawl space during the dry time of the year, don't be misled by uninformed contractors that tell you that more ventilation is needed. This will only worsen the problem! For more information about this and other common "house problems" please visit my web site at www.dwengineers.com. And if you ever have a question or concern about a house problem, feel free to call me at 256-318-0982 256-318-0982 . I'll gladly discuss the problem free of charge. Cordially, James A. "Buck" Durham, P.E.
Homes for Sale Huntsville Homes for sale Huntsville; Search the Huntsville Al MLS for homes for sale in Huntsville Al at www.HomesForSaleHuntsville.net
About Durham & Wehrman Engineering Inc Durham & Wehrman Engineering was incorporated in the State of Alabama on February 12, 2007. We were formerly JADE Engineering and Inspection, Inc. which started business in 1987. We specialize in residential and commercial building inspections for major insurance companies, Huntsville real estate Realtors, mortgage companies, homeowners and contractors. We also perform foundation and structural design and specialize in the development of foundation and structural framing plans for complex building structures. Our owners, James A. "Buck" Durham, P.E. and Joel D. Wehrman, P.E., are graduates of the University of Missouri-Rolla (Missouri University of Science and Technology) and have been working together since the mid 80s. Collectively they have inspected more than 15,000 homes and commercial buildings. Our engineers pride themselves on an ability to inspect a home or commercial building and quickly diagnose any problems that might exist. In the event that we are inspecting a home or commercial building for a Real Estate transaction, we are able to explain the problems and put them into proper perspective for all interested parties. We typically supplement our written reports with photographs, CAD drawings and a list of authoritative references.
August 10th, 2012 8:05 PM
Is Crawl Space Encapsulation Right For You, Your Client or Your Situation? Source: James A. "Buck" Durham, P.E. Now that summer is in full swing, you may find home inspectors telling you and your clients that they've found wet conditions in the crawl space area beneath a home. Since this is usually the dry time of the year, then more than likely, the wet conditions are related to high humidity rather than water seepage into the crawl space. The most common source of humidity inside a crawl space is related to a combination of moisture vapor rising out of the uncovered ground and warm, high-humidity air entering the crawl space through the perimeter foundation vents. The first problem has long been understood and easily combated by placing a vapor barrier over the ground. The second problem is the most misunderstood problem in our industry and something you must understand and be able to explain to your clients. Whenever warm (hot), humid air enters the crawl space through the perimeter foundation vents, its temperature drops about 20 degrees or more since the temperature in the crawl space is much cooler than outside air. This lower temperature is caused by a combination of factors including air conditioning duct leakage, cold radiation from the ducts/floor above and the fact that there is no direct sunlight or massive air flow into the space. When the warm/humid air enters the crawl space, its temperature immediately drops, so it must give up its moisture and this moisture condenses on cool objects such as air conditioning ducts, the wood floor (exposed to interior air conditioning) and the ground surface. As this moisture collects over time, the humidity in the crawl space increases dramatically. One of the main problems with wet/humid crawl spaces is the formation of mold/mildew and the deterioration of the wood floor system. Wood is a hygroscopic material, meaning that it tries to reach equilibrium with the surrounding atmosphere-either absorbing moisture from high humidity air or off-gassing moisture in low humidity air. (By the way, this is why joints in wood trim/moldings located inside a house open/close throughout the year.) When exposed to high humidity, wood takes on moisture and when its moisture content reaches a certain level, it becomes a perfect host for wood inhabiting fungi which can literally destroy it. See Photo 1. The end result is a condition we call decay, rot, dote or doze. Some fungi live largely on the wood's cellulose while others feed on both Photo 1 the lignin and the cellulose. The most common fungi we see feeding on our ever popular Southern Pine floor joists is Brown Rot. After prolonged fungi attack, the floor joists take on a brown color, crack across the grain, shrink, collapse and even crush into a fine powder. Brown, crumbly rot in the dry condition is often called "dry rot" but this is really a misnomer as it takes high moisture/humidity to decay wood. The wood may later dry but the rot/decay was caused by exposure to high moisture. Another common problem with wet/humid crawl spaces is cupped hardwood flooring inside the home. Cupping, also called "washboard" is a condition where the edges of a piece of flooring (across its width) are high and the center is lower. This generally develops gradually. Moisture imbalance through the thickness of the flooring is the only cause. Moisture is greater on the bottom of the board than on the top. The moisture from the crawlspace rises up into the home due to what is called the "stack effect" and this creates high moisture conditions on the bottom face of the hardwood flooring. This in turn causes the bottom face of the hardwood boards to swell (expand) dimensionally (wood expands when wet) and this creates the cupping condition. So How Do You Prevent High Humidity In A Crawl Space? The best way is to cover the ground with a seamless vapor barrier, extend the barrier up the perimeter foundation walls, seal it to the foundation walls and cover/close-off the foundation vents. This sounds like an easy proposition until you crawl under a home and see the network of ever present obstructions caused by A/C ductwork, plumbing pipes, electrical wires, foundation piers and floor supports -- let alone the low headroom, construction debris to be removed and muddy conditions which are often present. Another important factor when sealing off a crawl space from ground and air moisture is to use a high quality vapor barrier-typically 16- or 20-mil thick polyethylene as opposed to the long standard 6-mil plastic. This material is much more resistant to snags and tears caused by crawl space traffic and the storage of materials under the home. Plus, it is imperative that the vapor barrier be completely seamless and this is accomplished by sealing all the seams/laps with heavy duty vinyl tape. The thicker the vapor barrier, the better it is for tape-sealing. After the crawl space is encapsulated, there are a host of immediate benefits. Condensation stops, mildewy odors that once permeated the home go away, mold/fungus on the floor structure go away, cupped hardwood flooring may eventually lie back down and dust/allergens/mold spores no longer seep into the home through cracks/crevices in the floor. And if the floor system is damp or wet from long term exposure to high moisture, a central dehumidifier can be placed in the crawl space to dry it out. Also and alternatively, one can insulate the perimeter foundation walls and tap into the central heating/air conditioning system ductwork and heat or cool the space under the home-oftentimes reducing the home's annual heating/cooling costs. No matter how you view it, crawl space encapsulation is the best way to go in the humid, southeastern corner of the United States. Although the Building Codes still require crawl space ventilation in new home construction, we're seeing rapid changes in the thinking of Code Officials (writers) as they now allow sealed crawl spaces if continuously operated mechanical ventilation is provided or the crawl space is insulated and provided with conditioned air. So the next time you find a wet/humid crawl space during the dry time of the year, don't be misled by uninformed contractors that tell you that more ventilation is needed. This will only worsen the problem! For more information about this and other common "house problems" please visit my web site at www.dwengineers.com. And if you ever have a question or concern about a house problem, feel free to call me at 256-318-0982 256-318-0982 . I'll gladly discuss the problem free of charge. Cordially, James A. "Buck" Durham, P.E.
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About Durham & Wehrman Engineering Inc Durham & Wehrman Engineering was incorporated in the State of Alabama on February 12, 2007. We were formerly JADE Engineering and Inspection, Inc. which started business in 1987. We specialize in residential and commercial building inspections for major insurance companies, Huntsville real estate Realtors, mortgage companies, homeowners and contractors. We also perform foundation and structural design and specialize in the development of foundation and structural framing plans for complex building structures. Our owners, James A. "Buck" Durham, P.E. and Joel D. Wehrman, P.E., are graduates of the University of Missouri-Rolla (Missouri University of Science and Technology) and have been working together since the mid 80s. Collectively they have inspected more than 15,000 homes and commercial buildings. Our engineers pride themselves on an ability to inspect a home or commercial building and quickly diagnose any problems that might exist. In the event that we are inspecting a home or commercial building for a Real Estate transaction, we are able to explain the problems and put them into proper perspective for all interested parties. We typically supplement our written reports with photographs, CAD drawings and a list of authoritative references.
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