Thursday, September 13, 2012
Wednesday, September 12, 2012
Homes of huntsville, huntsville al mls, huntsville houses
Homes of HUntsville; National home prices have posted some of their strongest gains this year in nearly six years.
September 12th, 2012 6:32 PM
Source; Realtor Magazine
Housing Progresses, But Has it Recovered? Daily Real Estate News Tuesday, September 11, 2012
Home prices have posted some of their strongest gains this year in nearly six years. But while prices have likely hit bottom, the public shouldn’t confuse that with a full recovery. A lot more still has to happen to get to that point, analysts say. For one, inventories of homes for-sale need to reach more normal levels. The number of homes for sale are at an eight-year lows, The Wall Street Journal reports. Prices are rising in many areas but it’s because “there are more buyers chasing fewer homes and fewer distressed homes, such as foreclosures,” The Wall Street Journal reports. Also, millions of home owners are underwater, owing more on their mortgage than their home is currently worth, which is preventing them from trading up and moving to a new home. Home prices have been increasing at the fastest rate in markets that have some of the highest number of underwater home owners because so few homes are for sale, according to The Wall Street Journal. “While low inventories have helped firm up prices, they could also soon lead to year-over-year declines in sales volumes because there aren't enough homes on the market to sustain the current sales pace,” The Wall Street Journal reports. Other challenges the housing market still faces on its road to recovery include the stringent lending standards that are preventing many potential buyers from qualifying for a loan. Also, a large overhang of distressed mortgages has the potential to cause foreclosures to rise. Furthermore, if high unemployment across the country continues, it will putoff rising home prices. Source: “Housing on Mend, but Full Recovery Is Far Off,” The Wall Street Journal (Sept. 9, 2012) Huntsville Houses We can assist you in finding area houses that will meet your needs and price range.You can search the entire Huntsville MLS for houses on your own without having to register.
Source; Realtor Magazine
Number of Improving Housing Markets Grows Daily Real Estate News Tuesday, September 11, 2012 The number of metro areas showing signs of real estate market improvement expand in September, rising from 80 to 99 metro areas, according to the National Association of Home Builders/First American Improving Markets Index. "This solid growth is an encouraging sign that housing continues on a slow but steady recovery path that is gradually advancing from one local market to the next," says Barry Rutenberg, chairman of the National Association of Home Builders. The index identifies metro areas that have shown improvement in housing permits, employment, and home prices for at least six consecutive months. This month, the markets added to the list include Tucson, Ariz., Jacksonville, Fla., Springfield, Ill., Greenville, N.C., and Bend, Ore., among others. "More metros across the country are experiencing a sustained uptick in house prices, employment, and new building activity as rising consumer confidence in local market conditions pushes more people to consider a new-home purchase," says NAHB Chief Economist David Crowe. Huntsville AL MLS
########
NAHB/First American Improving Markets Index (IMI)
Permits
Growth
Prices
Growth
Employment
Growth
Trough
From
Trough
From
Trough
From
MSA
Date
Trough
Date
Trough
Date
Trough
1
Fayetteville, AR
04/30/09
3.3%
03/31/11
6.5%
09/30/09
4.9%
2
Jonesboro, AR
02/28/11
2.0%
01/31/10
4.8%
06/30/09
2.3%
3
Little Rock, AR*
04/30/11
2.8%
02/28/11
1.6%
02/28/10
1.6%
4
Phoenix, AZ
03/31/09
4.3%
06/30/11
13.6%
09/30/10
4.3%
5
Prescott, AZ
08/31/10
6.1%
06/30/11
5.7%
11/30/11
2.1%
6
Tucson, AZ*
06/30/11
5.1%
09/30/11
3.7%
06/30/11
1.0%
7
Yuma, AZ*
08/31/11
6.3%
09/30/11
2.5%
12/31/11
1.9%
8
Hanford, CA
08/31/11
16.0%
07/31/11
2.3%
12/31/10
8.6%
9
Sacramento, CA*
06/30/11
7.1%
10/31/11
2.4%
07/31/11
2.8%
10
Boulder, CO
11/30/09
11.0%
01/31/11
4.6%
03/31/10
6.3%
11
Fort Collins, CO*
03/31/09
6.5%
12/31/10
5.6%
09/30/09
5.1%
12
Greeley, CO*
01/31/09
2.3%
02/28/11
8.4%
12/31/09
6.5%
13
Washington, DC
01/31/09
1.1%
01/31/11
2.5%
02/28/10
3.8%
14
Cape Coral, FL
03/31/09
4.6%
02/28/11
12.7%
01/31/10
3.9%
15
Crestview, FL*
03/31/09
2.7%
05/31/11
4.3%
03/31/10
3.6%
16
Deltona, FL
04/30/09
1.1%
03/31/11
10.2%
12/31/10
1.0%
17
Jacksonville, FL*
04/30/09
1.7%
01/31/11
0.2%
03/31/10
1.9%
18
Lakeland, FL*
01/31/11
3.1%
06/30/11
0.3%
01/31/12
1.9%
19
Miami, FL
04/30/09
4.3%
09/30/11
5.6%
01/31/10
2.8%
20
North Port, FL
05/31/09
5.0%
03/31/11
2.9%
12/31/10
1.6%
21
Orlando, FL
05/31/09
3.6%
04/30/11
3.3%
12/31/09
3.2%
22
Palm Bay, FL
04/30/09
2.0%
04/30/11
6.4%
12/31/11
1.3%
23
Pensacola, FL
05/31/09
2.9%
05/31/11
3.1%
12/31/09
2.2%
24
Punta Gorda, FL*
01/31/09
1.2%
02/28/11
5.2%
06/30/09
5.5%
25
Sebastian, FL*
10/31/09
2.1%
10/31/11
13.4%
02/28/10
2.3%
26
Tampa, FL
02/28/09
2.1%
03/31/11
8.2%
01/31/10
4.3%
27
Ames, IA
07/31/10
3.8%
02/28/11
2.3%
01/31/10
7.3%
28
Des Moines, IA*
02/28/09
3.7%
12/31/10
1.1%
08/31/10
2.2%
29
Iowa City, IA
05/31/10
3.5%
01/31/10
0.6%
12/31/09
2.5%
30
Sioux City, IA*
12/31/08
2.1%
05/31/11
1.2%
06/30/11
4.2%
31
Boise City, ID
03/31/09
3.9%
04/30/11
8.4%
06/30/10
3.9%
32
Springfield, IL*
01/31/12
0.5%
11/30/10
1.6%
04/30/09
1.4%
33
Bloomington, IN
09/30/11
4.6%
12/31/10
6.8%
12/31/08
2.5%
34
Columbus, IN
01/31/10
4.8%
08/31/11
3.6%
07/31/09
20.6%
35
Evansville, IN
03/31/09
1.8%
04/30/11
1.4%
07/31/09
4.2%
36
Muncie, IN
04/30/11
5.4%
02/28/10
2.2%
05/31/11
2.3%
37
Terre Haute, IN
02/28/11
1.1%
08/31/11
2.4%
12/31/11
1.9%
38
Houma, LA
03/31/10
1.8%
07/31/11
2.2%
06/30/11
7.2%
39
Lafayette, LA*
02/28/09
1.6%
10/31/11
1.5%
01/31/10
14.2%
40
Monroe, LA
03/31/09
2.2%
05/31/10
2.2%
09/30/09
0.8%
41
Barnstable Town, MA*
04/30/11
2.1%
06/30/11
1.4%
08/31/11
3.9%
42
Bay City, MI
08/31/10
3.5%
02/28/11
6.5%
07/31/09
3.6%
43
Detroit, MI
04/30/09
8.2%
03/31/11
6.5%
06/30/09
5.5%
44
Grand Rapids, MI
04/30/09
2.0%
02/28/11
5.8%
07/31/09
6.8%
45
Jackson, MI*
11/30/11
13.1%
02/28/11
3.2%
03/31/10
6.4%
46
Monroe, MI
03/31/09
1.9%
02/28/11
8.5%
10/31/09
4.1%
47
St. Cloud, MN
11/30/11
4.0%
03/31/11
1.0%
02/28/10
6.2%
48
Columbia, MO
11/30/08
1.9%
01/31/11
2.5%
08/31/09
3.6%
49
Jefferson City, MO
09/30/10
2.1%
04/30/11
2.5%
03/31/11
1.2%
50
Joplin, MO
12/31/10
6.5%
02/28/11
7.0%
01/31/10
7.3%
51
Kansas City, MO
03/31/09
3.2%
02/28/11
3.7%
03/31/10
1.9%
52
St. Joseph, MO
02/28/10
0.4%
03/31/11
7.2%
01/31/10
10.3%
53
Jackson, MS
03/31/09
2.1%
01/31/11
2.6%
01/31/10
2.2%
54
Greenville, NC*
08/31/10
2.5%
02/28/11
0.9%
08/31/11
1.2%
55
Jacksonville, NC
01/31/09
2.2%
09/30/11
1.4%
12/31/07
3.9%
56
Bismarck, ND
03/31/09
18.9%
01/31/10
15.2%
12/31/07
11.8%
57
Fargo, ND
04/30/09
3.9%
03/31/11
2.1%
04/30/09
7.5%
58
Grand Forks, ND
03/31/09
3.7%
12/31/10
8.8%
04/30/09
3.0%
59
Lincoln, NE
12/31/08
1.8%
01/31/11
2.5%
12/31/09
3.9%
60
Vineland, NJ
06/30/11
1.6%
03/31/11
2.9%
06/30/11
1.4%
61
Syracuse, NY
08/31/11
2.5%
02/28/11
1.9%
08/31/10
0.9%
62
Utica, NY*
12/31/11
7.9%
11/30/10
1.7%
08/31/11
2.6%
63
Canton, OH
11/30/11
9.3%
01/31/11
6.0%
10/31/09
8.0%
64
Columbus, OH
07/31/11
3.4%
02/28/11
4.7%
12/31/09
4.4%
65
Sandusky, OH
10/31/09
1.7%
03/31/11
5.1%
12/31/09
8.8%
66
Springfield, OH
01/31/11
6.8%
02/28/11
2.2%
01/31/10
5.2%
67
Lawton, OK*
01/31/12
4.3%
10/31/11
3.0%
12/31/11
1.0%
68
Tulsa, OK
02/28/11
2.0%
02/28/11
4.6%
02/28/11
3.4%
69
Bend, OR*
02/28/09
4.4%
06/30/11
1.1%
06/30/11
0.5%
70
Altoona, PA*
01/31/12
47.4%
05/31/10
3.5%
02/28/10
0.2%
71
Erie, PA
04/30/11
8.0%
02/28/11
1.4%
01/31/10
9.9%
72
Pittsburgh, PA
02/28/09
1.8%
01/31/10
5.7%
02/28/10
4.9%
73
Greenville, SC
09/30/10
3.0%
12/31/10
1.9%
09/30/09
3.6%
74
Rapid City, SD*
11/30/11
7.9%
03/31/11
1.4%
02/28/10
2.5%
75
Clarksville, TN
05/31/08
0.9%
02/28/11
2.3%
03/31/09
5.7%
76
Cleveland, TN*
01/31/09
0.8%
11/30/10
2.9%
01/31/12
2.9%
77
Knoxville, TN
10/31/11
2.0%
02/28/11
2.5%
08/31/09
6.7%
78
Amarillo, TX*
10/31/08
1.3%
11/30/10
0.8%
04/30/10
5.7%
79
Austin, TX
07/31/11
4.3%
01/31/11
6.5%
09/30/09
8.0%
80
College Station, TX*
10/31/10
2.6%
09/30/10
2.7%
01/31/08
6.4%
81
Dallas, TX
03/31/09
1.6%
02/28/11
4.7%
12/31/09
5.4%
82
Houston, TX
04/30/09
1.3%
08/31/11
6.6%
12/31/09
7.5%
83
Laredo, TX
12/31/08
1.1%
04/30/10
5.8%
09/30/09
9.6%
84
Lubbock, TX
09/30/11
7.0%
09/30/11
0.9%
09/30/10
4.4%
85
McAllen, TX
01/31/09
0.6%
11/30/10
1.5%
12/31/07
4.8%
86
Midland, TX
04/30/09
3.9%
01/31/10
19.3%
08/31/09
18.9%
87
Odessa, TX
02/28/09
19.8%
10/31/10
11.3%
08/31/09
23.9%
88
San Angelo, TX
12/31/10
3.4%
04/30/11
10.2%
06/30/09
7.1%
89
San Antonio, TX
04/30/11
1.3%
12/31/10
4.6%
09/30/09
4.2%
90
Texarkana, TX
08/31/11
14.6%
01/31/10
0.6%
10/31/09
8.6%
91
Victoria, TX
09/30/10
5.0%
02/28/11
11.9%
11/30/09
5.6%
92
Waco, TX*
04/30/09
1.7%
01/31/10
3.9%
01/31/12
1.8%
93
St. George, UT
03/31/09
4.1%
05/31/11
7.2%
12/31/09
3.3%
94
Charlottesville, VA*
04/30/09
0.2%
08/31/11
0.3%
01/31/10
4.2%
95
Kennewick, WA*
03/31/09
3.0%
10/31/11
2.9%
12/31/07
8.5%
96
Mount Vernon, WA*
11/30/11
5.7%
10/31/11
0.6%
02/28/10
2.1%
97
Huntington, WV*
01/31/09
2.1%
03/31/10
6.8%
06/30/11
2.0%
98
Casper, WY
06/30/11
8.9%
01/31/10
4.4%
12/31/09
10.5%
99
Cheyenne, WY
12/31/08
3.6%
11/30/10
4.9%
01/31/10
5.3%
* New this month
DROPPED this month
Gadsden, AL
Dover, DE
Hinesville, GA
Rome, GA
Warner Robins, GA
Bowling Green, KY
Springfield, MA
Saginaw, MI
Burlington, NC
Goldsboro, NC
Florence, SC
Parkersburg, WV
Notice for 2013 HAAR Huntsville AL MLS Director Nominations The Nominating Committee of the Huntsville Area Association of REALTORS will meet on Tuesday, October 4, 2012 from 1:30PM - 2:30PM (directly following the membership meeting) so that members may appear before them to offer nominations. More info to follow. HAAR Bylaws Article XI. Officers and Directors, Section 5A. - Election of Officers and Directors. Please contact Sid Pugh, Nominating Committee Chair (Sid@pughgroup.com) or Christina Hearne at HAAR (Christina@hbrmls.com) if you have any questions regarding this notice. There are 7 Director positions to be filled. Below are your Directors serving through 2013: Cindy Allen Lori Carter Betty Hughes Steven Lamar Zelda Lanza Clif Miller Michael Rosenblum Robert Simons Rod Weaver Ex Officio (2 Past presidents): Valerie Miles Bill Ward
5 Strong Performing Housing Markets Daily Real Estate News Tuesday, September 11, 2012 Several real estate markets are showing signs of recovery, with median home prices and sales rising. But which homes of Huntsville markets are showing some of the strongest signs of recovery? 24/7 Wall St. recently evaluated home price changes for the year ending in July, foreclosure data, the unemployment rate, and other factors to help determine which housing markets are performing some of the strongest. The states that emerged on top of the list are: 1. Arizona Home price change in the last year year: +16.6% Median home price: $248,229 2. Idaho Home price change in the last year: +10% Median home price: $85,000 3. Utah Home price change in the last year: +9.3% Median home price: $129,000 4. South Dakota Home price change in the last year: +8.3% Median home price: $101,700 5. Colorado Home price change in the last year: +7.3% Median home price: $240,000
Monday, September 10, 2012
Homes of huntsville sales up 3.6%; Huntsville al mls
September 10th, 2012 7:22 PM
SOURCE; ACRE
Homes of Huntsville; Alabama home sales during July 2012 up 3.6 percent from 2011. July new home sales in Alabama's five metro markets, representing approximately seventy percent of all statewide transactions, experienced a 17.5 percent decrease from the prior month. Sixty percent of metro areas have experienced YTD increase in new home sales compared to 2011 with Montgomery (up 24%) posting the best results followed by Tuscaloosa (18%) and Birmingham (15%). YTD new home sales have declined in Mobile (down 22%) and Huntsville (down 6%). Demand: In July, Alabama new home sales were outperformed by the US market which reflected an increase of 25.3 percent from July 2011 and up 3.6 percent from the prior month, according to the US Census Bureau & HUD. The release also reported that the results from the South region were up 9.7 percent from July 2011 but 1.6 percent down from last month. View full sizeAL YTD residential building permits up 4.1% from 2011. Infograph courtesy of ACRE. All rights reserved. Supply: Statewide new construction inventory has declined by approximately 13 percent from last July which is consistent with US trend (down 14%). All metro markets have experienced reductions in inventory since July 2011. Birmingham (down 19%), Mobile (-17%) and Huntsville (-9%) led the state in inventory reduction. Alabama's metro markets in July reflect 4.8 months of new home supply, an increase from 4.6 months of supply in July 2011 and down from 4.1 months from June 2012. According to the US Census Bureau, the US inventory of new homes for sale decreased to 142,000 homes or 4.6 months' supply, also a big improvement from 6.7 months of supply in July 2011 (down 31%). Pricing: Alabama's metro market's median new home sales price in July was $221,886, a decrease of 2.2 percent from last month and an increase of 2.4% when compared to July 2011. New Home Pipeline: July statewide housing starts decreased by 2.5 percent from the prior month and decreased 1.8 percent from July 2011. YTD housing starts are up 3.4%. July statewide building permits were down 3.4 percent from the prior month and 6.2 percent from July 2011. YTD building permits are up 4.1%. Residential Construction Employment: According to the Alabama Dept. of Industrial Relations, statewide residential construction employment was up 1.1 percent (700 jobs) to 61,400 from last month but remains down 6.9 percent or 4,600 workers from July 2011. Local Results: 9 out of the 27 home builder associations (33 - up from 30% in prior month) reported gains in building permits from the prior month (June 2012) while 9 associations (33% - down from 37%) reported gains in housing starts. As the market transitions into the third quarter of 2012, statistical volatility is anticipated. Real estate sales are seasonal and third quarter sales typically begin to gradually decline from the prior "sales peak" second quarter. Through July, seventy-two percent (18 of 25) of the local housing markets have experienced year-to-date (ytd) sales growth from 2011 and that is welcome news for Alabama consumers as well our state's real estate community. On the other hand, continued anemic US job creation/economic growth, strict underwriting standards, uncertainty of election (ie 2013 tax policy) and the global economic slowdown top the list of concerns that market watchers cite as elements that could possibly impact the fragile housing recovery. For other Alabama real estate resources & news, please visit our website and our ACRE blog. The ACRE New Construction Monthly Report is work product stemming from our partnership with the Home Builder's Association of Alabama Foundation. About ACRE. ACRE was founded in 1996 by the Alabama Real Estate Commission, the Alabama Association of REALTORS and the Office of the Dean, UA Culverhouse College of Commerce. ACRE is not a state-funded entity, rather its operates in part because of the goodwill & generosity of our statewide ACRE Partners.
SOURCE; HAAR
Agent Advertising Remarks for ListHub Advertising Remarks are now appearing when entering or changing a listing. in the Huntsville AL MLS. There is some confusion regarding this new field. Below is an explanation of where the different Remarks fields appear: Agent Remarks: These remarks appear on any Agent Report option and are not viewable by anyone but NALMLS member agents. Customer/Public Remarks: These remarks appear on any Customer Report option and travel to Huntsville AL MLS www.valleymls.com, www.realtor.com, and all other Broker/Agent IDX sites. Agent Advertising Remarks: These homes of Huntsville remarks only travel on listings sent to ListHub. ListHub is a portal that distributes our Active Listings (IDX format) to over 90 third party advertising sites such as Zillow and Trulia. You are encouraged to enter your contact information at the beginning of these remarks and then complete with public remarks. WHY do we have this field? As you are aware, your contact information gets really buried on these sites, and agents that pay to advertise get their contact information displayed up front, thus you lose leads! Currently, of the 8000+ active listings in NALMLS, only 1122 active listing have advertising remarks filled in. We cannot start sending Advertising Remarks to ListHub until a reasonable amount of listings contain this field because remarks will be totally blank on these sites. Please take a few minutes and enter information on all of your active listings.
"RISK MANAGEMENT" AND "FORMS" CE CLASSES The following Continuing Education (CE) classes will be offered on Saturday, September 22nd: Risk Management (required)....3 hours of CE credit..9-12 am.....Instructor: Walt Hennessee Forms (elective).......................3 hours of CE credit..1-4 pm.......Instructor: Walt Hennessee There have been many requests to offer these classes during the week, so..... Risk Management (required) will be offered on Tuesday, Sept. 25th, from 5:30PM til 8:30PM, Forms will be offered on Thurs. 27th, from 5:30PM til 8:30PM. The classes will be held at the Rise School of Real Estate located at 3603 Memorial Pkwy SE, Huntsville, AL 35801 (Next to Robin Rents). Parking is available at the back of the building. Cost is $25 (cash or check) for each class....there is no charge for the fun we have. Space is limited, so call (256) 656-3325 to reserve your seat. If you do not want or need the CEs, you are welcome to attend either class at no charge. This is a good opportunity for new agents to be exposed the the Risks associated with our profession and the "tools of our trade", Forms.
SOURCE; ACRE
Homes of Huntsville; Alabama home sales during July 2012 up 3.6 percent from 2011. July new home sales in Alabama's five metro markets, representing approximately seventy percent of all statewide transactions, experienced a 17.5 percent decrease from the prior month. Sixty percent of metro areas have experienced YTD increase in new home sales compared to 2011 with Montgomery (up 24%) posting the best results followed by Tuscaloosa (18%) and Birmingham (15%). YTD new home sales have declined in Mobile (down 22%) and Huntsville (down 6%). Demand: In July, Alabama new home sales were outperformed by the US market which reflected an increase of 25.3 percent from July 2011 and up 3.6 percent from the prior month, according to the US Census Bureau & HUD. The release also reported that the results from the South region were up 9.7 percent from July 2011 but 1.6 percent down from last month. View full sizeAL YTD residential building permits up 4.1% from 2011. Infograph courtesy of ACRE. All rights reserved. Supply: Statewide new construction inventory has declined by approximately 13 percent from last July which is consistent with US trend (down 14%). All metro markets have experienced reductions in inventory since July 2011. Birmingham (down 19%), Mobile (-17%) and Huntsville (-9%) led the state in inventory reduction. Alabama's metro markets in July reflect 4.8 months of new home supply, an increase from 4.6 months of supply in July 2011 and down from 4.1 months from June 2012. According to the US Census Bureau, the US inventory of new homes for sale decreased to 142,000 homes or 4.6 months' supply, also a big improvement from 6.7 months of supply in July 2011 (down 31%). Pricing: Alabama's metro market's median new home sales price in July was $221,886, a decrease of 2.2 percent from last month and an increase of 2.4% when compared to July 2011. New Home Pipeline: July statewide housing starts decreased by 2.5 percent from the prior month and decreased 1.8 percent from July 2011. YTD housing starts are up 3.4%. July statewide building permits were down 3.4 percent from the prior month and 6.2 percent from July 2011. YTD building permits are up 4.1%. Residential Construction Employment: According to the Alabama Dept. of Industrial Relations, statewide residential construction employment was up 1.1 percent (700 jobs) to 61,400 from last month but remains down 6.9 percent or 4,600 workers from July 2011. Local Results: 9 out of the 27 home builder associations (33 - up from 30% in prior month) reported gains in building permits from the prior month (June 2012) while 9 associations (33% - down from 37%) reported gains in housing starts. As the market transitions into the third quarter of 2012, statistical volatility is anticipated. Real estate sales are seasonal and third quarter sales typically begin to gradually decline from the prior "sales peak" second quarter. Through July, seventy-two percent (18 of 25) of the local housing markets have experienced year-to-date (ytd) sales growth from 2011 and that is welcome news for Alabama consumers as well our state's real estate community. On the other hand, continued anemic US job creation/economic growth, strict underwriting standards, uncertainty of election (ie 2013 tax policy) and the global economic slowdown top the list of concerns that market watchers cite as elements that could possibly impact the fragile housing recovery. For other Alabama real estate resources & news, please visit our website and our ACRE blog. The ACRE New Construction Monthly Report is work product stemming from our partnership with the Home Builder's Association of Alabama Foundation. About ACRE. ACRE was founded in 1996 by the Alabama Real Estate Commission, the Alabama Association of REALTORS and the Office of the Dean, UA Culverhouse College of Commerce. ACRE is not a state-funded entity, rather its operates in part because of the goodwill & generosity of our statewide ACRE Partners.
SOURCE; HAAR
Agent Advertising Remarks for ListHub Advertising Remarks are now appearing when entering or changing a listing. in the Huntsville AL MLS. There is some confusion regarding this new field. Below is an explanation of where the different Remarks fields appear: Agent Remarks: These remarks appear on any Agent Report option and are not viewable by anyone but NALMLS member agents. Customer/Public Remarks: These remarks appear on any Customer Report option and travel to Huntsville AL MLS www.valleymls.com, www.realtor.com, and all other Broker/Agent IDX sites. Agent Advertising Remarks: These homes of Huntsville remarks only travel on listings sent to ListHub. ListHub is a portal that distributes our Active Listings (IDX format) to over 90 third party advertising sites such as Zillow and Trulia. You are encouraged to enter your contact information at the beginning of these remarks and then complete with public remarks. WHY do we have this field? As you are aware, your contact information gets really buried on these sites, and agents that pay to advertise get their contact information displayed up front, thus you lose leads! Currently, of the 8000+ active listings in NALMLS, only 1122 active listing have advertising remarks filled in. We cannot start sending Advertising Remarks to ListHub until a reasonable amount of listings contain this field because remarks will be totally blank on these sites. Please take a few minutes and enter information on all of your active listings.
"RISK MANAGEMENT" AND "FORMS" CE CLASSES The following Continuing Education (CE) classes will be offered on Saturday, September 22nd: Risk Management (required)....3 hours of CE credit..9-12 am.....Instructor: Walt Hennessee Forms (elective).......................3 hours of CE credit..1-4 pm.......Instructor: Walt Hennessee There have been many requests to offer these classes during the week, so..... Risk Management (required) will be offered on Tuesday, Sept. 25th, from 5:30PM til 8:30PM, Forms will be offered on Thurs. 27th, from 5:30PM til 8:30PM. The classes will be held at the Rise School of Real Estate located at 3603 Memorial Pkwy SE, Huntsville, AL 35801 (Next to Robin Rents). Parking is available at the back of the building. Cost is $25 (cash or check) for each class....there is no charge for the fun we have. Space is limited, so call (256) 656-3325 to reserve your seat. If you do not want or need the CEs, you are welcome to attend either class at no charge. This is a good opportunity for new agents to be exposed the the Risks associated with our profession and the "tools of our trade", Forms.
Huntsville Alabama Real Estate, Property Management
Rental homes of Huntsville property management Huntsville Alabama Real Estate, Property Management
Sunday, September 9, 2012
Homes of Huntsville; HUntsville AL MLS
Investment homes of Huntsville; In general my preference for investment property is single family homes that will rent in the $800 - $1300 range, located in neighborhoods with good schools and with consistent appreciation.
September 9th, 2012 8:54 PM
In general my preference for investment property is single family homes of huntsvillethat will rent in the $800 - $1300 range, located in neighborhoods with good schools and with consistent appreciation. While the cash flow of single family homes is not what multifamily properties advertise (often they cash flow on paper and in theory only) single family properties are much more liquid, have better appreciation and are much easier to manage.
The link below is to all the available multifamily properties in the Huntsville area. On a quick review, I see the same old properties that are usually posted but not selling. Most are in horrible areas where it is impossible to find decent tenants. The others are grossly overpriced. There are a few properties listed that we managed several years ago and dropped management of because it was so difficult to find decent tenants and the owners refused to maintain the properties. Most decent multifamily property either never reach the MLS or sell very quickly. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719206457 I do know of one unique multifamily property on Montesano Mountain, just east of our downtown and medical districts. It is not on the market but the owners would sell. We picked up management of the property three years ago. It has out of area owners and had been poorly managed by a local realtor for several years. There were serious maintanance issues and the rents were grossly under market levels. Over time we have taken care of the deferred maintenance and raised rents to market levels. We put the units on the market for sale last year and they went under contract in the remarkably short time of two weeks. The purchaser did his inspections and we waited for over 60 days for the appraisal. The appraiser used comparables from areas that were very bad, unsafe neighborhoods and not at all realistic comparisons. The appraisal came in extremely low. The buyers agent wanted us to drop the price to the appraised amount and became very angry when seller refused. The particular realtor that was representing the buyer has a very poor reputation for honest business practice and my belief is that she influenced the appraisal. The sellers were frustrated because we had taken the property off market for so long waiting on the purchaser and decided to wait until market conditions improved to re-list the property. The link below is to the old listing. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719206477 These are older units. We are adding central heat and air to one unit but the rest have wall heaters and widow air conditioners. The location is excellent, in a highly sought after area with excellent schools. If the property does interest you, we can provide more detail. The owners will probably take a good bit less than the list price. Right now Huntsville is still in a decidedly buyers market. There is far too much available inventory and some builders are struggling. I am aware do a few builders that have gone out of business. Our market is however showing signs of recovery and as the 4,700 projected new military jobs begin to be filled starting this spring and summer, our market will become more balanced. Since you have the wherewithal to pay cash for properties, you will be at a distinct additional advantage in negotiations. Once you acquire properties, you might consider taking out mortgages on them and reinvesting the loan proceeds into additional properties. Financing costs and lender requirements on "refinance" loans are much less than that of acquisition loans. Leveraging is a powerful wealth building tool. As mentioned in my first email, Madison followed by select areas of west Huntsville and northeast Madison County are my favorite areas to direct investors.Since you are just starting to get your bearings in the Huntsville real estate market, a review of areas to consider might be in order. Prospective tenants (and prospective buyers on an eventual resale) will consider the commute time to their work, the quality of the schools and then the quality of the neighborhood and the amenities of the specific property. Most of our area's larger employers that will grow from the incoming jobs with BRAC, are located on Redstone Arsenal in the southwest quadrant of Huntsville and immediately to the north of Redstone Arsenal in Cummings Research Park. Just west of Redstone Arsenal is the Huntsville International Airport. There are a few employers with campuses adjacent to the airport. The airport has two runways, both aligned south to north so properties in the flight path should be avoided.
Areas that are close to this concentration of employers are Madison and parts of west Huntsville. There are neighborhoods located in the city of Huntsville just west of Redstone Arsenal that have very good long term growth records and future growth potential. There is a lot of growth in this area of upscale homes. The schools in the area had seen some decline but there is a new school in the final stages of construction that will serve the area. I have spoken with parents of children who attend the school and they are happy with it. Another area I like is close-in northeast Madison County. I-565 goes to the edge of Huntsville to this area. There are plans to extend the interstate another 3 miles, eliminating traffic lights that are now at the end of the interstate. There are also plans for a large shopping, restaurant and entertainment complex at the edge if the city near the interstate. Site preparation had already been done for the complex when the economy took a downturn and the construction projects were delayed. The schools are good in this area and there is a lot of residential and retail growth. Commutes are moderate. The area also has a natural beauty with open space, mountains, rivers and lakes. Our family moved from the city two years ago to this area and we have been very pleased with the area.
The link below is to available properties in the Huntsville AL MLS in Madison that might be prospects. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719206509 Using the Collinwood neighborhood as an example again. The link below is to recent Huntsville AL MLS rental data. All of the properties are managed by our firm. You will see that rents are in the $1,100 to $1,250 range. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719213240 The link below is to Homes of Huntsville for sale in the area just west of Redstone Arsenal. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719213614 The link below is to candidate properties in northeast Madison County. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719213632 If you are at the point of being ready to focus in on a particular area or price range please let me know. I can start to send properties for you to review. Once we start to focus in on a particular property we will provide a market analysis, listing history and estimated rental values. We can make an onsite visit and provide our impressions of the and forward additional, detailed photos. Will you be able to make visit to view the properties? If you like, we can provide references of out of state investor clients. We have several on the west coast and one who is still in Hawaii I believe .
On 114 BURWELLSPRING; Here are the comps. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718964979 The average sold price was $87 psf with a range of $83 to almost $90 psf. The average days on market was very high for our market at 198 days. Part of the high DOM might be new construction posted at the start of construction. At the average sold price of $87 psf you house would be at around $154,000. At a sale of $154,000 and assuming standard broker fees, costs, a possible $1,500 seller contribution to purchaser closing costs and a possible $500 in repairs after home inspection, you would net around $142,000. This assumes your taxes are escrowed.
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