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Montgomery AL Real Estate Market Trends Update

Thursday, January 17, 2008
by The Hat Team

In this month’s edition of the Market Trends Report, we will re-cap the market activity from 2007 and take a look at the real estate forecast for 2008.

 

Existing-home sales rose slightly in November, indicating a stabilization in housing in the wake of mortgage disruptions earlier in the year, according to the National Association of Realtors®.

 

Total existing-home sales nation-wide rose .4% in November 2007, when compared with October 2007, but were still down about 20% from the same time in 2006.

 

Looking ahead to 2008, Lawrence Yun (Senior NAR Economist) predicts “near term, existing-home sales should continue to hover in a narrow range, just as they have since September, and that’s good news because it’ll be a further sign that the housing market is stabilizing.”  In further good news, he noted “mortgage interest rates are near historic lows, and the most current data shows decelerating price declines along with a modest reduction in the number of homes on the market.”

 

Yun reminds us, however, that “just like the weather, there are large local variations in home prices” and sales.  Let’s take a look at the yearly totals for Montgomery AL in 2007 to see what the market looked like when compared with 2006:

  

The Midtown Montgomery market remained remarkably stable from 2006 to 2007, when compared with the national statistics.  The number of pending and sold listings both decreased slightly in 2007 - by 8% and 7%, respectively.  Market times increased, but only by 6 days, and the average sales price remained almost exactly the same at $151,216.

Midtown
Montgomery

Pending
Listings

Sold
Listings

Average
Market Times

Average
Sales Price

2007

622

517

96

$151,216

2006

678

558

90

$151,785

If you are planning to buy or sell a home in 2008, or if you want to learn more about Montgomery AL real estate, please contact me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.  To begin searching for Montgomery AL homes, please use my complimentary MLS search.  Best wishes for a very happy and prosperous new year!

 

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed. 
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Now Reduced! Montgomery AL Home For Sale 3313 Cloverdale Rd.

Wednesday, January 16, 2008
by The Hat Team

This charming Mediterranean style home is located in the Cloverdale Idlewild historic district. A little different architectural style home than what you normally find in the area. There are a lot of upgrades in this house, however, a lot of the original charm and character are kept to make this unique home a jewel. Please notice the corner fireplace, the transoms, the hardwood floors and french doors between the formal living room and spacious dining room. The extra here is the large family room off the back overlooking the large deck. This is a must see so put it first on your list.

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.



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Just Reduced! Montgomery AL Home for Sale - 3039 Woodley Terr.

Wednesday, January 16, 2008
by The Hat Team

All the work had been done to this precious cottage. From the wonderful covered porch out back to the new heat pump installed upstairs for the master suite, you will be impressed by this renovation. You will be hard pressed to find a better house at a better price in the Cloverdale area. The location is perfect as you are within walking distance to the Cloverdale Business district and Huntingdon College. Don't let this one get away before you take a look.

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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Montgomery AL Home For Sale - 3111 Audubon Rd.

Wednesday, January 16, 2008
by The Hat Team

Classic Cloverdale style home on prime ~270 feet deep lot facing the park! Brick and stucco exterior with brand new roof make this one you just don't want to pass up. The unusual entry and formal foyer open to a large living room with hardwood floors, fireplace, and heavy original stucco walls. The formal dining room has many windows to let lots of light in. The huge kitchen and breakfast area are dated but functional, and are a perfect palate for an awesome redo. There are two bedrooms, 2 baths, and a study which could easily be a 3rd bedroom. Bonus room on the back with glass door opening onto rear deck could be a family room or could be converted to another bedroom with little effort (it has the 2nd bath within.) The very deep private rear yard has mature landscaping and heirloom shrubs. All this plus within walking distance to Old Cloverdale's dining and entertainment district, parks, and recreation. Come see this one before someone buys it out from under you!

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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Montgomery AL Real Estate Predictions for 2008

Thursday, January 10, 2008
by The Hat Team

The National Association of Realtors has published its predictions for the 2008 housing market, and there is finally good news to share!  Most noteworthy is the trend toward improving existing home sales. 

 

Lawrence Yun, senior NAR economist, said “Now that mortgage conditions have improved, some postponed activity should turn up in existing-home sales over the next couple of months, and I expect sales at fairly stable to slightly higher levels.” 

 

Existing home sales are expected to rise to $5.7 million in 2008 – making it the fifth highest year on record.  Existing home prices, which declined 1.9% to a median of $217,600 in 2007, are expected to go back up about .3% in 2008.  As Yun noted late in 2007 “even with a modest decline in the national aggregate price this year, it’s important to keep in mind that nearly two-thirds of the metro areas in the US are showing price increases … the apparent disparity results from fewer sales in high-cost areas, so a change in the mix is dragging down the national median home price.”

 

To find out the latest trends in Montgomery AL real estate, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.  To begin searching for Montgomery AL homes, please use my complimentary MLS search.

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Montgomery AL Home For Sale - 1307 Summerfield Pl.

Wednesday, January 9, 2008
by The Hat Team

Immaculate condition, wonderful location and priced to sell. This home has it all. From the laminate wood floors to the covered deck, you can easily call this home. Add to all this a 2 car carport, large detached storage and be able to look out onto a protected wildlife area behind the property. So much for so little.

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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Montgomery AL Home For Sale - 386 Rose Lane

Tuesday, January 8, 2008
by The Hat Team


Elegant yet sooo livable! This recently updated Garden District gem boasts large formal living room with exquisitely detailed antique marble mantelpiece and built-in bookshelves. Spacious formal dining room big enough for the largest of dining tables and has two built-in corner china cabinets. The updated cook's delight kitchen has custom made moveable center island work space, and is open to large sunken breakfast/gathering/family room. Off the dining room is a cozy den/study with french door to rear deck overlooking enormous back yard. The home has three spacious bedrooms and two baths on the main level, and an additional guest suite and bath upstairs. Large laundry room with sink and half bath conveniently located off kitchen.

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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2008 Montgomery AL Real Estate Resolutions

Thursday, January 3, 2008
by The Hat Team

Happy new year, Montgomery!  I hope that you and your families enjoyed a very happy holiday season and that 2008 is off to a good start.  Did you make any new year’s resolutions this year?  If not, it’s still not too late!  Here are some ideas for real estate resolutions that will be easy to keep in 2008:

 

  • Know your credit!  Make a resolution to stay on top of your credit in 2008.  Begin by getting a detailed credit report so that you know where you stand as the year begins.  Check again at the end of the year to see how much your credit has improved!
  • Keep a budget.  This can be a difficult one to stick to.  Many people start the year with an idealistic budget, but soon let it go out the window – oftentimes, along with any hopes of saving for real estate investment!  Begin with a goal of either setting aside a certain amount for a down payment on a real estate investment or putting away enough to make one extra mortgage payment in 2008.
  • Research real estate web sites.  Be a snoop in 2008!  Use web sites like mine to keep tabs on what homes in your neighborhood are selling for, where the foreclosures near you are, and what the general market is like in your area.  When you are ready to make a real estate investment, you will already have a good feel for the local market.
  • Out with the old!  Even if you are not planning to move in 2008, it never hurts to clean out your closets, garage, or attic and donate to charity.  You’ll make your home more appealing to prospective buyers if you are selling, and you’ll feel more organized if you are staying put.

Best wishes for a very happy and prosperous 2008!

 

For more information about Montgomery AL real estate, please visit HomesForSaleInMontgomeryAlabama.com or call me at 800-HAT-LADY.  To begin searching for Montgomery AL homes, please use my complimentary MLS search!

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Displaying blog entries 11-18 of 18

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