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Midtown Montgomery Real Estate Market Trends - April 2015

Friday, May 22, 2015
by The Hat Team

Decades ago, it was not uncommon for people to work at the same job for the entirety of their professional career. Similarly, many people kept the same home their whole lives. Those trends, however, have shifted. Today most homeowners buy and sell several homes throughout their lifetime. The reasons to sell one’s home vary—changes in family situations, neighborhood transformations, financial changes, and many others. However, the most popular reasons sellers decided to leave their home for another are quite simple—people moving to new areas and outgrowing their homes. According to the National Association of REALTORS® 2014 Profile of Home Buyers and Sellers, 15 percent of sellers sold their previous home because the place was too small. That number was much higher (30 percent) among first-time sellers. Additionally, another 15 percent sold their last home due to job relocation. Are you considering selling your home? Get a free current market analysis here.

Take a look at April 2015's real estate sales statistics.

April 2015 Midtown Montgomery Real Estate Market Update

Midtown Montgomery real estate sales statistics for April 2015, show the number of homes remain the same. The average sales price decreased by 3.47% to $153,448 for the month. The median sales price decreased by 1.85% to $127,500, and market times decreased by 24 days.  The highest selling price decreased by 1.51%, and the lowest selling home price decreased by 3.45% compared to $14,500 from April 2014.

Midtown Montgomery  April 2015   April 2014
Homes Sold 30 30
Average Selling Price $153,448 $158,971
Median Selling Price $127,500 $129,900
Days On The Market 135 159
Highest Selling Price $391,000 $397,000
Lowest Selling Price $14,000 $14,500

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Market Trends for March 2015

Wednesday, April 22, 2015
by The Hat Team

This is a great time to think about buying home. Home prices and interest rates are still at all-time lows and springtime historically offers the most inventory to choose from. The biggest hurdle for many home buyers is saving money for a down payment. Here are 10 things to do on a regular basis to save money:

  1. piggy bankMake it automatic. Before you see your paycheck, have a percentage of it automatically deposited into your 401(k) and savings.
  2. Keep minimum funds in checking account. Transfer extra funds into your savings account where it will earn more interest than in our checking account.
  3. Don’t pay banking fees! Use your bank’s free bill pay, automatic deposits, free checks, and free reimbursements for all ATM fees.
  4. Use rewards credit cards. Use a credit card offering cash back on every purchase and pay the card off each month to eliminate interest fees.
  5. Actively search out deals. It never hurts to try and find a better deal, or request a better deal from your service providers.
  6. Drive smoothly. Accelerate smoothly and at a reasonable rate, and coast to a stop as often as possible. Also use cruise control on the highway. My car is rated to get 26 mpg around town and I regularly get 29. You can also use these tips to save money on gas, and use gas rewards credit cards to save money on fuel costs.
  7. Buy quality products. Quality items may cost more up front, but they last longer and generally provide better results than cheaper, inferior products. Examples of items you should buy higher quality - furniture, clothes and shoes, vehicles, and other items that will see a lot of use.
  8. Buy generic where applicable. You can save a lot of money on generic items for which the brand name product is essentially the same as the store brand. Food and medicines come to mind as items where generic products are good deals.
  9. Use coupons and rebates. Use coupons for oil changes, groceries, books, on-line purchases, and just about anything else we can find.
  10. Use store rewards cards. Many grocery stores have their own ‘reward cards’ saving you money each time your shop. If you are a senior, shop on designated senior citizen discount days.

Take a look at March 2015's real estate sales statistics.

March 2015 Midtown Montgomery Real Estate Market Update

Midtown Montgomery real estate sales statistics for March 2015, show the number of homes dropped 25% by 6 homes. The average sales price increased by .02% to $130,852 for the month. The median sales price decreased by 2.84% to $128,500, and market times decreased by 133 days.  The highest selling price increased by 16.84%, and the lowest selling home price increased by 43.3% compared to $8,025 from March 2014.

Midtown Montgomery  March 2015   March 2014
Homes Sold 18 24
Average Selling Price $130,852 $130,828
Median Selling Price $128,500 $132,250
Days On The Market 122 255
Highest Selling Price $277,500 $237,500
Lowest Selling Price $11,500 $8,025


For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Market Trends for Jan 2015

Friday, February 20, 2015
by The Hat Team

Even though most people start their New Year’s resolutions on January 1, some people add resolutions as the year progresses. For some, that goal is realizing the dream of homeownership. Beginning the process of buying a home can be daunting, but it is easy enough to begin working on the first step – saving for a down payment. According to the National Association of REALTORS®' 2014 Profile of Home Buyers and Sellers, 65 percent of home buyers utilize their savings account for a down payment; however, buyers find many other ways to finance a down payment, including selling stocks or bonds, relying on gifts from friends or relatives, retirement funds or using the proceeds from another home sale.

Beginning to build savings should be a priority for potential buyers because it can take some time. According to NAR’s report, it took half of buyers a year or less to save for a down payment, while another 19 percent said it took between one and two years to build their savings account. Additionally, 29 percent said they needed more than two years to save.

Take a look at January 2015's real estate sales statistics.

January 2015 Midtown Montgomery Real Estate Market Update

Midtown Montgomery real estate sales statistics for January 2015, show the number of homes remained the same as January 2014. The average sales price decreased by 45.53%% to $97,298 for the month. The median sales prices decreased by 49.5% to $68,300, and market times increased by 15 days.  The highest selling price decreased by 51.64%, and the lowest selling home price increased by 52.31% compared to $6,500 from January 2014.

Midtown Montgomery  January 2015   January 2014
Homes Sold 24 24
Average Selling Price $97,298 $178,619
Median Selling Price $68,300 $135,250
Days On The Market 154 139
Highest Selling Price $309,500 $640,000
Lowest Selling Price $9,900 $6,500


For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Market Trends for Dec 2014

Thursday, January 22, 2015
by The Hat Team

2015 is off to a great start for home buyers according to an executive order announced last week authorizing FHA to cut .5 percent from the annual mortgage insurance premium for the FHA backed loans with terms greater than 15 years.  For most FHA loans this will reduce the annual premium from 1.35 percent of the loan balance to .85 percent. Loans with balances above the loan limits in effect in most areas and with current MIP of 1.50 to 1.55 percent will see new premiums of 1.00 or 1.05 percent respectively. The upfront premium for all loans will remain unchanged at 1.75 percent.

Borrowers with FHA-insured loans can refinance and obtain the lower annual MIP, as long as the original endorsement was after May 31, 2009 (Older loans have a lower annual MIP. The annual MIP was increased from 0.55% to 0.90% in October 2010, to 1.15% in April 2011, to 1.25% in April 2012, and to 1.35% in April 2013 for borrowers with less than 5% down.)  

Take a look at December’s real estate sales statistics.

December 2014 Midtown Montgomery Real Estate Market Update

Midtown Montgomery real estate sales statistics for December 2014, show the number of homes sold decreased by 17.24% when compared to December 2013. The average sales price increased by 58% to $136,785 for the month. The median sales prices decreased by 4.55% to $105,000, and market times decreased by 17 days.  The highest selling price decreased by 10.96%, and the lowest selling home price increased by 16.88% compared to $9,000 from December 2013.

Midtown Montgomery  December 2014  December 2013
Homes Sold 24 29
Average Selling Price $136,785 $135,399
Median Selling Price $105,000 $110,000
Days On The Market 135 152
Highest Selling Price $455,000 $511,000
Lowest Selling Price $9,000 $7,700

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Market Report for September 2014

Friday, October 24, 2014
by The Hat Team

Forget a sea view mansion. CnnMoney.com reports in Hong Kong, parking spaces are some of the hottest properties on the market.

Hong Kong is a densely populated city and eager have pushed prices for parking spaces to record highs in recent months with prime spaces now selling for far more than the luxury cars that park in them.

In May, a single space in a residential neighborhood on Hong Kong Island went for 4.24 million Hong Kong dollars ($547,000), making it the most expensive parking space ever sold in the territory.

Knowing what mere parking spaces are selling for in Hong Kong certainly puts our own real estate market into perspective.

Take a look at September’s real estate sales statistics.

September 2014 Midtown Montgomery Real Estate Market Update

Midtown Montgomery real estate sales statistics for September 2014, show the number of homes sold increased by 19% when compared to September 2013. The average sales price decreased by 30% to $125,516 for the month. The median sales prices decreased by 35% to $100,350, and market times decreased by 54 days.  The highest selling price decreased by 26%, and the lowest selling home price decreased by 68% compared to September 2013.

Midtown Montgomery  September 2014  September 2013
Homes Sold 25 31
Average Selling Price $125,516 $180,690
Median Selling Price $100,350 $153,500
Days On The Market 124 178
Highest Selling Price $400,000 $545,000
Lowest Selling Price $6,500 $20,000

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed. Courtesy of Montgomery Realtor Sandra Nickel, Sandra Nickel Hat Team.

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Midtown Montgomery Real Estate Market Report for June 2014

Monday, July 28, 2014
by The Hat Team

If you sold your primary residence and made a profit, you may be able to exclude that profit from your taxable income. Here's how it works.

Individuals can exclude up to $250,000 in profit from the sale of a main home (or $500,000 for a married couple) as long as you have owned the home and lived in the home for a minimum of two years. Those two years do not need to be consecutive. In the 5 years prior to the sale of the house, you need to have lived in the house for at least 24 months in that 5-year period. In other words, the home must have been your principal residence. Just like calculating capital gains, the formula for calculating the gain or loss involves subtracting your cost basis from your selling price.

The formula for calculating your cost basis on your main home is as follows:

Purchase price

     + Purchase costs (title & escrow fees, real estate agent commissions, etc.)

     + Improvements (replacing the roof, new furnace, etc.)

     + Selling costs (title & escrow fees, real estate agent commissions, etc.)

     - Accumulated depreciation (for example, if you ever took the office in the home deduction)

     = Cost Basis

And then calculating your profit or loss would be:

Selling price

     - Cost Basis

     = Gain or Loss

Now let's look at how many homes were sold in Midtown Montgomery during June.

Midtown Montgomery real estate sales statistics for June 2014, show the number of homes sold decreased by 27% when compared to June 2013. The average sales price increased by 3.8% to $210,426 for the month. The median sales prices increased by 6.7%, and market times decreased by 47 days from June 2013.  The highest selling price increased by 45%, and the lowest selling home price increased by 64% compared to June 2013.

Midtown Montgomery  June 2014 June 2013
Homes Sold 26 36
Average Selling Price $210,426 $151,658
Median Selling Price $155,750 $93,000
Days On The Market 181 134
Highest Selling Price $870,000 $600,000
Lowest Selling Price $15,000 $9,100

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Market Report for May 2014

Thursday, June 26, 2014
by The Hat Team

All-cash offers are an unusual real estate tactic, but often times are a winning strategy at the negotiating table, and are presently on the rise. The National Association of Realtors® reports market share of all-cash purchases has risen and currently makes up 33 percent of the market. This is a unique trend, especially since the market has experienced a decrease in distressed homes and investor activity.

Economists point out many reasons for this popular trend. One is restrictive lending standards have caused many buyers, especially wealthy ones, to forgo a loan. Another is the aging baby boom generation, many of whom are trading down and paying for their purchase with cash accumulated from decades of equity. Some also point to foreign buyers; home purchases by foreign buyers in the U.S. are increasing and those buyers don’t have the credit history in the U.S. to qualify for a loan.

None of those situations have significantly impacted the Montgomery market.  For May, 24% of the sales were all-cash and averaged just $42,500.  This indicates they were predominantly investor sales of distressed properties.  Now let's look at the other May statistics for Midtown Montgomery.

Midtown Montgomery real estate sales statistics for May 2014, show the number of homes sold increased by 5.7% when compared to May 2013. The average sales price increased by less than 1% to $144,882 for the month. The median sales prices increased by 17%, and market times decreased by 4 days from May 2013.  The highest selling price decreased by 5%, and the lowest selling home price decreased by 45% compared to May 2013.

Midtown Montgomery  May 2014 May 2013
Homes Sold 33 35
Average Selling Price $144,882 $144,725
Median Selling Price $123,000 $105,000
Days On The Market 126 140
Highest Selling Price $635,000 $665,000
Lowest Selling Price $9,250 $17,000

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Market Report for March 2014

Saturday, April 26, 2014
by The Hat Team

The spring buying season looks promising according to BankRate.com. As the weather warms and flowers bloom homes remain affordable and inventories are low, making it a good time to buy.

Here are 5 housing trends you can expect to see this spring:

1. Adjustable rate mortgages are gaining favor.
As rates tick upward, there is a tremendous savings opportunity with an ARM.

2. Homeowners are cashing out with home equity lines.

May homeowners have regained the equity lost in the recession and are taking advantage of new found value in their homes.

3. Mortgage rates will rise...a little!

Mortgage rates will most likely inch up this spring but are not expected to skyrocket. Experts are expecting rates to go higher than 5%.

4. Home prices will increase.

An increase in prices is mostly due to low inventory. Prices are expected to steadily climb through the end of the year.

5. 'Permanent' HAMP rates are expiring.

Homeowners who refinanced with the Home Affordable Modification Program will start to see their rates increase. The 'permanent' rate expires after 5 years.

Interested in buying this spring? Let us help you find the best home and the best financing for you and your family! Contact us today!

Take a look at sales figures in our local real estate market for March 2014.

Midtown Montgomery real estate sales statistics for March 2014, show the number of homes sold increased by 30% when compared to March 2013. The average sales price increased by 28% to $ 130,647 for the month. The median sales prices increased by 27%, and market times increased by 131 days from March 2013.  The highest selling home price decreased by 17%, and the lowest selling home price decreased by 47% from March 2013.

Midtown Montgomery  March 2014 March 2013
Homes Sold 23 33
Average Selling Price $ 130,647 $ 129,500
Median Selling Price $ 129,500 $ 94,000
Days On The Market 255 124
Highest Selling Price $ 237,500 $ 286,900
Lowest Selling Price $ 8,025 $ 15,000

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Market Report for February 2014

Friday, March 21, 2014
by The Hat Team

Zillow’s new survey-based index gauging consumer sentiment about housing markets and homeownership indicates that the majority of U.S. consumers feel positive about real estate market.

The Zillow Housing Confidence Index ranges from 0 to 100 with marks above 50 indicating positive sentiment. Households surveyed had a real estate confidence index of 63.7, indicating more people feel positive about real estate than not..

The index includes a “Homeownership Aspiration” component that measures renters’ attitudes and likelihood of pursuing homeownership. Nationwide, renters had an aspiration index of 59.3, indicating that more renters than not aspire to be homeowners.

In addition, 10 percent of current renters nationwide said they plan to purchase a home within the next 12 months.

Zillow estimates that 4.2 million first-time homebuyers would flood the market if all renters purchase a home who indicated that they’d like to in the next 12 months.

Take a look at sales figures in our local real estate market for February 2014.

Midtown Montgomery real estate sales statistics for February 2014, show the number of homes sold increased by 4% when compared to February 2013. The average sales price increased by 9% to $ 132,424 for the month. The median sales prices increased by 30%, and market times increased by 3 days from February 2013.  The highest selling home price decreased by 30%, while the lowest selling home price increased by 50% from February 2013.

Midtown Montgomery  Feb 2014 Feb 2013
Homes Sold 25 24
Average Selling Price $ 132,424 $ 120,403
Median Selling Price $ 118,000 $ 82,656
Days On The Market 136 133
Highest Selling Price $ 487,000 $ 695,000
Lowest Selling Price $ 10,000 $ 5,000

Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

Interested in buying a bank-owned home? Get bank-owned listings alerts FREE!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

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Midtown Montgomery Real Estate Market Trends - November 2013

Friday, November 22, 2013
by The Hat Team

Chase has released its November Market Report reflecting the following trends:

1. Average home prices decreased for each property type in September.

2. Investors increased their share of purchases of damaged REO properties.

3. The housing market continued its seasonal slowdown.

Take a look at sales figures in our local real estate market for October 2013.

Midtown Montgomery real estate sales statistics for October 2013 show the number of homes sold increased by 53% when compared to October 2012. The average sales price increased by 20% to $ 119,488 for the month. The median sales prices increased by 16%, and market times increased by 25 days from October 2012.  The highest selling home price increased by 32%, and the lowest selling home price decreased by 74% from October 2012.

Midtown Montgomery October  2013 October 2012
Homes Sold 38 18
Average Selling Price $ 119,488 $ 95,103
Median Selling Price $ 108,300 $ 90,500
Days On The Market 148 123
Highest Selling Price $ 365,000 $ 250,000
Lowest Selling Price $ 5,300 $ 20,700

 

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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