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Midtown Montgomery Real Estate Market Trends - May 2013

Thursday, May 23, 2013
by The Hat Team

We've heard much about investors playing a role in the housing recovery, but they aren't the only major players. According to results from the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey for March, first-time homebuyers and current homeowners are also building a strong presence as they dominate the non-distressed market. Investors accounted for 13.3 percent of the market share for non-distressed properties, while current homeowners represented 50 percent of the market. First-time homebuyers also made up a significant portion at 36.8 percent. Read the entire article here.

Increased home sales result in higher prices. Are you an investor or a current home owner thinking about buying this spring? Now couldn't be a better time to buy...before prices increase and interest rates remain low. Contact me and together we can get the ball rolling.

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

Midtown Montgomery real estate sales statistics for April 2013 show the number of homes sold increased by 3% when compared to April 2012. The average sales price decreased by 31% to $101,239 for the month. The median sales prices decreased by 11%, and market times increased by 15 days.  The highest selling home price decreased by 63%, and the lowest selling home price increased by 37% from April 2012.

As is often the case in an area like Midtown where prices vary widely, a single $600,000 sale skewed the April 2012 average selling price to an unrealistic high.  Last month's average is far more representative of reality.

Midtown Montgomery April  2013 April 2012
Homes Sold 32 31
Average Selling Price $ 101,239 $ 147,652
Median Selling Price $ 89,000 $ 100,000
Days On The Market 145 130
Highest Selling Price $ 222,000 $ 600,000
Lowest Selling Price $9,500 $6,000

 

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 Trends - April 2013

Friday, April 19, 2013
by The Hat Team

The 1968 Fair Housing Act prohibited housing discrimination on the basis of race, color, national origin, religion, sex, familial status, or handicap. Every April, REALTORS® celebrate Fair Housing Month to reaffirm their continuing commitment to fair and equitable treatment and a professional level of service for all in their search for real property.

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

Midtown Montgomery real estate sales statistics for March 2013 show the number of homes sold decreased by 6% when compared to March 2012. The average sales price decreased by 6% to $87,165 for the month. The median sales prices increased by 48%, and market times decreased by 7 days. The highest selling home price decreased by 24%, and the lowest selling home price increased by 27% from March 2012.

Midtown Montgomery March 2013 March 2012
Homes Sold 30 32
Average Selling Price $ 87,165 $ 92,571
Median Selling Price $ 91,500 $ 47,950
Days On The Market 124 131
Highest Selling Price $ 286,900 $ 375,000
Lowest Selling Price $15,000 $11,000

 

Despite these disappointing numbers, we continue to see a real increase in buyer activity and now in pending sales. April’s numbers should look much better!

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 - March 2013

Friday, March 22, 2013
by The Hat Team

Let’s face it, all the information in the world about how to buy and sell a house is at your finger tips. So why hire a real estate professional to represent you in the purchase or sale of your home, when you can save the big fat commission they charge and do it yourself. If you have asked yourself this question, you are not alone. Here are the top 5 reasons to hire a real estate professional:

1. Education & Experience

Most people buy or sell homes 2-3 times in their lives. Many real estate professionals are involved in buying and selling real estate 2-3 times a month. Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than they are. You don’t need to know all there is to know about buying or selling real estate, you just need to hire the people that do. Hire someone with more experience and education than you that can help you get the best possible deal and save you precious time and money.

2. Agents are Buffers

If you are a buyer, agents will insulate you from builder representatives and listing agents, who can be piranhas when going after a sale. And if you are a seller, your agent will weed through the ‘lookie loos’ and bring you only well-qualified buyers. Real estate professionals save you time…and as they say, ‘time is money.’

3. Neighborhood Knowledge

Your neighbor may know that the people who sold the house down the street were asking $350,000, but your real estate agent will know that the house actually sold for $295,000 and paid $5,000 of the buyer’s closing costs after being on the market 45 days.

4. Price Guidance

Your real estate agent is able to guide you through the decision making process to help you make the right choice for yourself and your family. Whether a buyer or seller, agents are able to provide you with the data you need to choose a correct price and then put together a negotiating strategy based on market supply, demand and conditions.

5. Market Conditions Information

Real estate professionals can also provide you with market data such as price per square foot, median and average sales prices, days on market and list/sell ratios that will have a bearing on your buying and selling decisions.

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

Midtown Montgomery real estate sales statistics for February 2013 show the number of homes sold increased by 25% when compared to February 2012. The average sales price increased by 21% to $120,403 for the month. The median sales prices increased by 30%, and market times increased by 16 day. The highest selling home price increased by 59%, and the lowest selling home price increased by 20% from February 2012.

Midtown Montgomery February 2013 February 2012
Homes Sold 24 18
Average Selling Price $ 120,403 $ 95,287
Median Selling Price $ 82,656 $ 58,000
Days On The Market 133 117
Highest Selling Price $ 695,000 $ 286,000
Lowest Selling Price $5,000 $4,000

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 Market Trends - January 2013

Friday, February 22, 2013
by The Hat Team

If you are wondering what home improvement projects will give you the best return on the sale of your home, think “curb appeal.”

When buyers are shopping for a home, the exterior can make (or break) the first impression. According to the 2013 Cost vs. Value Report, exterior replacement projects are among the most valuable home improvements that sellers can currently invest in, starting with the front door.

A steel entry door topped this year’s survey with an estimated 85.6 percent of the costs recouped at resale. The steel door replacement is also the least expensive of the 35 midrange and upscale remodeling projects included in the survey, costing $1,137 on average.

This is the 15th year for the Cost vs. Value Report. This year’s survey included more than 3,900 appraisers, sales agents, and brokers across the country who provided their opinions and estimates.

Exterior projects dominated the list with six of the top 10 most cost-effective midrange projects and eight of the top 10 upscale projects.

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

Midtown Montgomery real estate sales statistics for January 2013 show the number of homes sold decreased by 31% when compared to January 2012. The average sales price decreased by 42% to $79,911 for the month. The median sales prices decreased by 51%, and market times decreased by 18 day. The highest selling home price decreased by 53%, and the lowest selling home price was the same as January 2012.
 

Midtown Montgomery January 2013 January 2012
Homes Sold 22 32
Average Selling Price $ 79,911 $ 137,622
Median Selling Price $ 61,050 $ 125,200
Days On The Market 133 151
Highest Selling Price $ 369,000 $ 785,000
Lowest Selling Price $9,000 $9,000

 

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 Market Trends - Dec 2012

Friday, December 21, 2012
by The Hat Team

With the gift-giving season in full swing, some parents are considering a sizable and meaningful present for their children and/or grandchildren - real estate. This is the sign of a solid trend, with a growing number of parents are currently helping their children purchase homes, whether they’re buying these homes for their sons and daughters outright, helping them pay for closing costs, or coming up with the money for their down payments.

While such a gift is certainly in keeping with the spirit of the season, those who are giving or those relying on monetary donations from their parents or family members to buy real estate should follow some fairly simple underwriting and IRS rules.

  • You can gift a total of $13,000 a person without being taxed on that money.
  • The person giving the gift must file a form 709 (gift tax return) for any gifts over $13,000 per year per recipient.
  • Buyers applying for a conventional mortgage loan must use their own funds for at least 5 percent of their down payment.
  • When buyers are providing a down payment of at least 20 percent of their home’s purchase price, they can rely on gift funds for the entire down payment.
  • Mortgage lenders will need to see documentation showing the origin of gifted funds.
  • A gift of real property is accomplished through a deed. A warranty or grant deed is normally used, but in some cases a quitclaim deed may be appropriate. You will identify the property being transferred and sign, notarize, and register the deed as clear evidence that the property has been given to your children.

As with all major financial decisions, you would be wise to consult your accountant and/or tax attorney before gifting monetary assistance for the purchase of real estate or the property itself.

Take a look at sales figures in our local real estate market for November. Unfortunately, Midtown Montgomery has yet to "jump on the upswing bandwagon." Our numbers continue to disappoint.

Midtown Montgomery real estate sales statistics for November show the number of homes sold decreased by 90% when compared to November 2011. The average sales price increased by 23% to $156,890 during the same period. The median sales prices increased by 14%, and market times increased by 19% or 31 days. The highest selling home price decreased by 27%, and the lowest selling home price was the same.

Midtown Montgomery Nov 2012 Nov 2011
Homes Sold 37 366
Average Selling Price $ 156,890 $ 117,500
Median Selling Price $ 117,500 $ 101,250
Days On The Market 163 132
Highest Selling Price $ 575,000 $ 785,000
Lowest Selling Price $ 3,000 $3,000


The good news is that the level of buyer activity in the Midtown Montgomery market is up substantially, which may mean and upturn ahead.

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 - November 2012

Tuesday, November 20, 2012
by The Hat Team

Hurricane Sandy’s immediate impact on real estate in the hardest hit Northeastern neighborhoods has become painfully evident, from New Jersey shore houses completely swept away by the sea to entire neighborhoods like Queens’ Breezy Point tragically leveled to the ground. But this latest natural disaster won’t just affect certain ZIP codes, it will weigh on America’s housing market as a whole, according to Forbes.com.

In many parts of the country a housing recover has begun. Nationally, home sales have been notably higher this year as compared to last. In September, existing home sales were up 11% year-over-year and pending sales up 14.5%, according to the National Association of Realtors. Prices have risen too, with the national median sales price $183,900, or about 11% higher than September of 2011.  Inventory has fallen drastically in many parts of the country, fueling the uptick in prices. The rising numbers have helped housing become a bright spot in recent economic reports, with analysts projecting that residential investment will positively contribute to gross domestic product this year for the first time since 2005.

Now, that rosy recovery is sure to dampen. “This will certainly create a negative in the short term,” says Lawrence Yun, chief economist of the National Association of Realtors. “The bottom line is we clearly anticipate a slowdown, but it will be temporary.”

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

Midtown Montgomery real estate sales statistics for October show the number of homes sold decreased by 25% when compared to October 2011. The average sales price decreased by 17% to $95,103 during the same period. The median sales prices increased by 19%, and market times increased by 18% or 22 days.  The highest selling home price decreased by 47%, and the lowest selling home price increased by 36%.

Midtown Montgomery Oct 2012 Oct 2011
Homes Sold 18 24
Average Selling Price $ 95,103 $ 114,128
Median Selling Price $ 90,500 $ 73,250
Days On The Market 124 102
Highest Selling Price $ 250,000 $ 476,000
Lowest Selling Price $ 20,700 $13,200


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.

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 - October 2012

Thursday, November 1, 2012
by The Hat Team

Ever since the housing bubble burst, the American public has been bombarded by predictions of all sorts.  Some have included assertions that the real estate market has bottomed out, while others issue dire warnings that it will sink still lower.  Accompanying these negative reports, however, there have usually been optimistic voices insisting that the market is actually improving.  And perhaps it finally is.  Dubious?  Read on…

According to a report issued recently by the Demand Institute, 2012 is the year of the housing bottom. The report states, “The double-digit increases in U.S. housing prices over the first half of the past decade proved unsustainable. But the freefall is over. The point has been reached where housing prices will start to climb, albeit at single-digit rates in most markets over the next five years.”

In addition, Douglas C. Yearley, Jr., CEO of Toll Brothers,says: "It appears that the housing market has moved into a new and stronger phase of recovery as we have experienced broad-based improvement across most of our regions over the past six months. The spring selling season has been the most robust and sustained since the downturn began.”

Numerous recently published articles discuss various stages of a housing market recovery.  Some describe a 3-step process, some 5, and others 7, but all agree that the signs of an upswing are currently here.  Visit Zip Realty, Seeking Alpha, and GMO for in-depth explanations and analyses of these stages.

Moreover, the Wall Street Daily touts 11 positive indicators that point to the beginning of a real estate turnaround.  Among those featured are rising housing starts, declining inventory, growing consumer confidence, spiking rental costs, increasing prices of homes, and rebounding existing home sales.

If you are considering buying or selling a home, this may well be a good time to do so. Interest rates won’t get much lower, prices seem to be stabilizing, and houses are more affordable than they’ve been in a decade.  Why wait any longer?

Lets look at the statistics in our local real estate market for September 2012.

Midtown Montgomery real estate sales statistics for September show the number of homes sold decreased by 16% when compared to September 2011. The average sales price decreased by 5% to $131,321 during the same period. The median sales prices decreased by 3%, and market times decreased by 35% or 60 days.  The highest selling home price decreased by 14%, and the lowest selling home price increased by 100%.

Midtown Montgomery Sept 2012 Sept 2011
Homes Sold 21 25
Average Selling Price $ 131,321 $ 138,288
Median Selling Price $ 122,500 $ 126,500
Days On The Market 114 174
Highest Selling Price $ 367,500 $ 425,000
Lowest Selling Price $ 25,500 $1


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 Market Trends - Sept 2012

Sunday, September 30, 2012
by The Hat Team

With the Presidential election just around the corner, it is time to look at what effect both President Obama and Mitt Romney have on real estate.

A second Obama term could provide homeowners and real estate investors:

  • President Obama supports extending homebuyer credit to those interested in purchasing their first home.
  • The Obama administration has consistently vouched for mortgage debt relief. While the evaluation of economic observers remain mixed, the Making Home Affordable Program (MHA) offers support for mortgage payment in addition to relief for those facing foreclosure and underwater mortgages.
  • The reduction of interest rates under President Obama has made borrowing and loans easier to sustain, which could spell positive ramifications for those who handle their mortgages with prudence.

Mitt Romney as president could provide boons to homeowners and property investors:

  • Mitt Romney has frequently been critical of lowered interest rates. Increasing interest rates would prove a blessing for homebuyers with a high volume of personal investments.
  • Mitt Romney broadly endorses rolling back government programs like MHA and encouraging the capital back into the private sector. Those who advocate this position (like his recently confirmed running mate) point to it as a means of stimulating the economy and overall curtailing the recession.
  • Those who hold faith in government-exempt solutions to lifting the economic quagmire will likely take heart with Romney’s favoring of cutting targeted programs like debt relief and housing loans, and letting the private sector economic gears turn unaltered.

Whoever ends up occupying the oval office come 2013 will quickly be forced to address our national property concerns.

Lets look at the statistics in our local real estate market for August 2012.

Midtown Montgomery real estate sales statistics for August show the number of homes sold decreased by 14% when compared to August 2011. The average sales price decreased by 11% to $100,084 during the same period. The median sales prices decreased by 10%, and market times decreased by 13% or 16 days.  The highest selling home price decreased by 24%, and the lowest selling home price decreased by 33%.

Midtown Montgomery Aug 2012 Aug 2011
Homes Sold 25 29
Average Selling Price $ 100,084 $ 112,293
Median Selling Price $ 85,000 $ 94,000
Days On The Market 106 122
Highest Selling Price $ 352,000 $ 465,000
Lowest Selling Price $ 8,000 $12,000


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 Market Trends - August 2012

Friday, August 31, 2012
by The Hat Team

Good news!  The recent results of a large-scale survey strongly indicates that consumer optimism and the desire to own real estate continue to rise.

Additionally, Fannie Mae’s National Housing Survey polls 1,001 Americans each month to assess their attitudes toward homeownership, renting, mortgage rates, foreclosures, the economy, household finances, and overall consumer confidence. The results of June’s survey show Americans are increasingly optimistic about the housing market despite concerns about the broader economy and their personal finances.

  • According to the survey, Americans expect home prices to increase 2.0 percent over the next year.
  • Among participants, 35 percent said prices would rise over the next 12 months, which is the largest percentage in the survey’s two-year history.
  • Also, the number of respondents who said they would buy their next home if they were going to move rose 6.0 percent to 69 percent, which is the highest level ever recorded.
  • The number of Americans who said it was a good time to buy a home increased to 73 percent.

Lets look at the statistics in our local real estate market for July 2012.

Midtown Montgomery real estate sales statistics for July show the number of homes sold increased by 29% when compared to July 2011. The average sales price increased by 9% to $125,325 during the same period. The median sales prices increased by 2%, and market times decreased by 23% or 36 days.  The highest selling home price increased by 38%, and the lowest selling home price increased by 56%.

Midtown Montgomery July 2012 July 2011
Homes Sold 35 25
Average Selling Price $ 125,325 $ 114,292
Median Selling Price $ 102,500 $ 100,000
Days On The Market 119 155
Highest Selling Price $ 517,500 $ 320,000
Lowest Selling Price $ 9,000 $4,000


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 Market Trends - July 2012

Friday, July 20, 2012
by The Hat Team

As Americans, we celebrated Independence Day this month flocking to places like Mount Vernon, Monticello and Peacefield to learn and understand more about our country's history and the men and women who shaped its future. The homes of founding fathers like George Washington, Thomas Jefferson and John Adams were more than shelter; they were places of respite, reflection and inspiration.

flags"Homeownership is an investment in our future, but it's also a gateway to our past," said National Association of Realtors President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami. "The homes of our country's founders offer insights into their characters and values, and reflect the spirits of their owners, just as our homes do for us today."

In some ways, historic homeowners bear little resemblance to the homeowners of today. George Washington inherited Mount Vernon when he was 20; only 4 percent of recent home buyers were between the ages of 18-24, according to the 2011 NAR Profile of Home Buyers and Sellers. John Adams was born in the house that would remain in the Adams family for four generations. Today, fewer than 3 percent of families in this country have received their primary residence as an inheritance, according to a recent Survey of Consumer Finances published by the Federal Reserve Board.

Women's rights to own property in America's early days were often based on their relationships with men, so it's not surprising that many women today view homeownership as its own form of independence, with single women representing more than one-fifth of all home buyers in the current market.

Homeowners across U.S. history do share some common ground, of course. Most of the founding families lived out their lives close to where they were born, and the same is true today. The U.S. Census Bureau reports that nearly 60 percent of Americans currently live in the state in which they were born, and NAR research shows that the typical buyer moves only 12 miles from his or her previous residence.

"I am as happy nowhere else and in no other society, and all my wishes end, where I hope my days will end, at Monticello," said Thomas Jefferson of his home. Although today's economic environment has postponed homeownership for some, numerous surveys show that most Americans still aspire to homeownership. In the NAR Profile, a full 60 percent of recent first-time home buyers cited the desire to own a home of their own as the primary reason for purchasing a home.

Lets look at the June statistics in our local real estate market? 

Midtown Montgomery real estate sales statistics for June show the number of homes sold remained consistent when compared to May 2011. The average sales price decreased by 25% to $113,872 during the same period. The median sales prices decreased by 39%, and market times decreased by 15% or 19 days.  The highest selling home price decreased by 1%, and the lowest selling home price decreased by 38%.

Midtown Montgomery June 2012 June 2011
Homes Sold 32 32
Average Selling Price $ 113,872 $ 151,399
Median Selling Price $ 80,250 $ 132,000
Days On The Market 111 130
Highest Selling Price $ 415,000 $ 417,500 
Lowest Selling Price $ 10,000 $16,000

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.

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

 

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