The Hat Team Sandra Nickel, REALTORS 334-834-1500 Fax: 334-269-4083 1044 East Fairview Ave. MontgomeryAL36106
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Presented by: The Hat Team
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Survey Shows Home Buyers Responding to Lower Prices
Existing-home sales rose from the first quarter in 13 states, largely from buyers responding to discounted home prices, according to the latest quarterly survey by the National Association of Realtors®. Nearly one-quarter of metropolitan areas showed rising home prices in the second quarter from a year ago, with greatly mixed conditions continuing around the country.
In the second quarter, 35 out of 150 metropolitan statistical areas1 showed gains in median existing single-family home prices from the second quarter of last year, while 115 had price declines. NAR’s track of metro area home prices dates back to 1979.
NAR President Richard Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said foreclosures are distorting the price data. “In many areas with large concentrations of foreclosure sales, homes are being purchased below replacement cost values,” Gaylord said. “Many buyers with long-term expectations are getting exceptional value in the current market. Once the inventory is drawn down, price pressure will return because the costs of construction are rising – today’s buyers are very well positioned to build wealth over time.” National Association of Realtors®.
Let’s take a look at the sales statistics for July 2008 to see how the Montgomery AL real estate market looks:
In Midtown Montgomery, pending sales decreased 18% in June 2008, compared against June 2007. Likewise, the number of sold listings dropped 21%. The average sales price decreased 9% to $131,446, and homes remained on the market for an average of 7 fewer days this June.
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Midtown
Montgomery
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Pending
Sales
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Sold
Listings
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Average
Market Times
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Average
Sales Price
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July 2008
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38
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37
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104
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$142,820
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July 2007
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72
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56
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133
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$149,412
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Again, as Gaylord said and as these statistics show, real estate prices are declining in some areas, even within the same city For the latest Montgomery AL 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.
Top Kitchen Design Trends  Incorporating current trends into your kitchen design not only helps you create a stylish and updated room, but also increases functionality. From the latest colors to the newest materials, good design can ensure you enjoy your new kitchen.
A recent national survey of kitchen designers conducted by the National Kitchen & Bath Association (NKBA) and luxury appliance manufacturer Thermador identifies several trends influencing today’s kitchen design -- from popular colors and finishes, to new materials, and even new technologies being incorporated by designers.
Style and Color
More than half (56.8 percent) of the kitchen designers surveyed said “traditional” was their most often requested type of kitchen design. However, designers identified contemporary and clean, simple lines as kitchen design trends to watch for.
For cabinetry, the top two most used finishes in kitchens are cherry and maple, while paints and exotic woods tied for third. This is a departure from the once-dominant oak cabinetry. Moreover, designers identify stainless steel as the top color scheme in today’s kitchen designs, followed by beige and bone colors.
Appliances
Stainless steel continues to lead the way as the most popular finish for appliances. However, appliances with custom paneling to match cabinetry are more commonly incorporated into today’s kitchen designs. The appliances that most often receive paneling are dishwashers and refrigerators.
Designers identified modular refrigeration, along with induction cooktops and speed-cooking ovens as one of the most exciting kitchen technologies. “Modular refrigeration like the Thermador Freedom Collection is gaining popularity because it provides designers and their clients greater flexibility,” says Michael Traub, president and CEO of Thermador. “With Freedom, they are liberated from having to design the entire kitchen around traditional and bulky refrigerator/freezer combinations while being able to achieve truly flush integration with cabinets.”
Countertops and Backsplashes
The countertop material used most frequently is granite, and with unlimited stone colors and designs, it’s highly customizable. However, another stone material -- quartzite, noted for its durability -- comes in a strong second. Additionally, the top three backsplash materials are tile, followed by granite and glass.
Functionality and Layout
Today’s households often function with more than one cook, so kitchen designs frequently incorporate multiple cooking stations such as a range and a wall oven, or a range and a cooktop. Appliances are also occupying islands to add cooking space. Additionally, prep sinks are showing up on islands or other locations in the kitchen for increased functionality.
“Kitchens are more commonly becoming a household’s hub,” says Ed Pell, manager of marketing research at the NKBA. “With multiple cooks working in the kitchen, and more entertaining and family activities conducted there, designers want to fulfill their client’s desire for increased functionality with efficient work areas.”
Consumer Attitudes
When it comes to appliances, designers indicate that homeowners believe high-end options are a good home investment. In fact, designers say premium appliances are the top “dream” item amongst their clients -- winning over custom cabinetry and special countertops.
Upcoming Trends
When designers were asked to name new trends to take note of, many identified new color applications. Specifically, greater use of color in cabinets was cited as an up and coming trend, as was the use of two colored cabinetry and molding, and the overall bolder use of color. (ARA)
Some Kind Words
Billy Young was of great help both in selling our previous home and in the purchase of our present residence. His advice on marketing our other home, which had serious structural problems, was invaluable, and the house was sold relatively quickly.
He tipped us off about an Old Cloverdale house coming on to the market, and we were able to make an offer just a few days after it was listed.
Because my wife and I are both Deaf, voice phoning is not possible. We used E-mail and pager instant messaging to keep in contact. Billy would promptly answer, even in the evenings and on weekends.
Indeed, the Hat Team truly is a team, not a competition between agents. We felt comfortable with consulting other members of the Hat Team, from Sandra to the Office Dog!
The Rev. Jay L. Croft
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'All About Montgomery Real Estate' Blog
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Sandra Nickel, REALTORS, 1044 East Fairview Ave., Montgomery, AL, 36106
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