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Montgomery Real Estate Sales Statistics - January 2009

Thursday, February 19, 2009
by The Hat Team
The following is a statement by National Association of Realtors® President Charles McMillan:
 
"An economic recovery is not possible without a housing recovery, and the stimulus legislation being signed today by President Obama contains two important housing provisions championed by NAR. The final stimulus bill increases the first-time home buyer tax credit to $8,000 and eliminates the repayment requirement of earlier legislation.  In addition, the credit availability has been extended until December 1. 
 
“These important provisions will help bring first-time home buyers to the market and reduce housing inventory,” said McMillan. NAR estimates that the home buyer tax provisions could stimulate up to 300,000 additional home sales, helping stabilize home values and potentially preventing some homeowners from being “underwater” on their mortgage, which can often lead to foreclosure.
 
The bill also reinstates the 2008 higher loan limits for FHA, Fannie Mae and Freddie Mac. “These higher loan limits are important to make mortgages affordable regardless of where you live. This will also help reduce inventory and improve liquidity in the overall mortgage market,” McMillan said.  
 
Let’s take a look at the January sales statistics to see how the Montgomery real estate market looks:
 
Montgomery real estate sales statistics for January show pending sales decreased by 33% in 2009 compared to January 2008.  The average sales price dropped 75% to $57,026 while sold listings were down 18% from 2008.  Market times showed a decrease by 35 days or 33% from 2008.
 
Note that 16 of the January 2009 closed sales were foreclosures.  With these distress sales extracted from the data, the average price was $132,269 and the average market time 116 days.  Clearly, Montgomery is being badly battered by foreclosures and the consequential deleterious effect on values.

Midtown
Montgomery
Pending
Sales
Sold
Listings
Average
Market Times
Average
Sales Price
 Jan 2009
30
23
72
$57,026
Jan 2008
45
28
107
$226,345

For the latest 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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Montgomery Real Estate For Sale: 3349 Montezuma Road

Friday, February 6, 2009
by The Hat Team

Montgomery Real Estate For Sale:
 
 
Gorgeously restored & renovated 1930's French Provincial brick home in the Cloverdale-Idlewild Historic District of Montgomery. Hardwood & custom tile/stone floors throughout. Plaster walls, crown moulding, & high architectural ceilings, Italian marble fireplace surround & butler pantry. Entire second story master suite: large bedroom, walk-in closet, master bath, office and den/playroom. Office has large built-in desk & built-in filing cabinet. Good closet space. Mature landscaping, wooden play equipment, large deck with built-in benches around the perimeter. Large landscaped back yard, fully fenced. Sunroom has french doors & arched french windows. Brand new architectural roof, new exterior paint, Both HVAC units are 1 year old, & storm windows. All electrical updated. Detached two story, 2-car garage converted to workshop with built-in worktable & storage room with built-in shelves. Entire second story of garage for storage. Only short walk to Capri Theater, parks, great restaurants and quaint local boutiques. This neighborhood featured in Southern Living 3 times in the last 4 years. 

Learn more about 3349 Montezuma Road and other Montgomery real estate by visiting HatTeam.com.

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Montgomery Real Estate For Sale: 8440 Water Oak Court

Thursday, February 5, 2009
by The Hat Team

Montgomery Real Estate For Sale:

 
 
Have allergies...hate carpet? Then this custom built Halcyon Oaks patio home is just right for you! Oak hardwood flooring in living, dining, and master bedroom, and ceramic tile flooring in kitchen, hallway, and guest bedrooms. Large master with vaulted trey ceiling and french door to rear patio. Private back yard perfect for entertaining. This one owner home is pristine and ready to move into!

 

For more about 8440 Water Oak Court and other Montgomery real estate visit HatTeam.com.
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Montgomery Real Estate and Homes For Sale: 912-914 E Edgemont

Thursday, February 5, 2009
by The Hat Team
Montgomery Real Estate and Homes For Sale:
912 - 914 E Edgemont Avenue, Montgomery AL 36111
MLS# 261632

Traditional style and popular Cloverdale Idlewild location make this an investment you won't want to miss. Fully leased and many upgrades to keep your tenants happy. Hardwood, parquet and hard tile floors. Fully equipped kitchens with washer-dryer connections. Unit 914 has living room plus den and was occupied by previous owner. Unit 912 has a sweet little rear courtyard and exterior porch--the goodies old house tenants really appreciate. Paved rear parking for 4 or more cars. Each unit has an outside storage area in the crawl space. L-shaped lot with side street alley access makes maintenance a breeze. 

For more about 912-914 E Edgemont Avenue and other Montgomery real estate visit HatTeam.com.
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Montgomery Real Estate and Homes For Sale: 2804 Windsor Avenue

Wednesday, February 4, 2009
by The Hat Team

Montgomery Real Estate and Homes For Sale:  

2804 Windsor Avenue, Montgomery AL 36109
MLS# 261630

Great starter home or investment property. This rock solid Morningview house in Montgomery has hardwood floors and good sized rooms. Tons of charm, and what a beautiful yard! Mature trees, heirloom shrubs, carport, detached garage, large patio, and brick fire pit make backyard entertaining fun!

Learn more about 2804 Windsor Avenue and other Montgomery real estate by visiting HatTeam.com.
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Montgomery Real Estate: 1513 S Court Street For Sale

Friday, January 30, 2009
by The Hat Team

Montgomery Real Estate:

1513 S. Court Street Montgomery AL 36104
4 units, each unit has 1 Br/1 Ba
MLS# 261511
 

New Multi-Family Fourplex

Looking for a chance to acquire and upgrade a multifamily? Look no further than this potential-packed 4plex about midway between Maxwell AFB and Hyundai. Nice size rooms with good storage and closet space, private porches and parking in the rear. Garden District is a locally designated historic district and property values have been going up faster than the market as a whole.
Learn more about 1513 S Court Street and other Montgomery real estate by visiting HatTeam.com.
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Montgomery Real Estate For Sale: 4437 County Rd 632

Friday, January 30, 2009
by The Hat Team
Montgomery Real Estate For Sale:
4437 County Rd 633, Clanton AL 35045
3 Bedroom, 2 Bath
MLS# 261342
 
Priced out of Prattville/Millbrook? Proceed up I65 to the Peach and on to Ballington Place where you can live the good life at a great price! Nowhere will you find values like these including a lifetime water heater, fully equipped kitchen with granite counters and tumbled marble backsplash...and even an emergency direct connection to police/fire/ambulance service! This home, the original model, sits outside the gate so you can own it at an even more attractive price. Just minutes off I65 exit 212, Peach Park. And priced like you remember many years ago!
Learn more about 4437 County Rd 632 and other Montgomery real estate by visiting HatTeam.com.
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Montgomery Real Estate, 322 County Rd 632 For Sale

Friday, January 30, 2009
by The Hat Team

Montgomery Real Estate For Sale

322 County Rd 632, Clanton AL 35045
3 Bedroom, 2 Bath
MLS# 261333

 
Priced out of Prattville/Millbrook? Proceed up I65 to the Peach and on to Ballington Place where you can live the good life at a great price! Nowhere will you find values like these including a gated community, lifetime water heaters, fully equipped kitchens with granite counters and tumbled marble backsplashes...and even an emergency direct connection to police/fire/ambulance service! Be among the first to enjoy all this just minutes off I65 exit 212, Peach Park.
Learn more about 322 County Rd 632 and other Montgomery real estate by visiting HatTeam.com.
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Montgomery Real Estate: 66 County Rd 632 For Sale

Friday, January 30, 2009
by The Hat Team
Montgomery Real Estate:
66 County Rd 632 For Sale
3 Bedroom, 2 Bath
MLS# 261327 
Priced out of Prattville/Millbrook? Proceed up I65 to the Peach and on to Ballington Place where you can live the good life at a great price! Nowhere will you find values like these including a gated community, lifetime water heaters, fully equipped kitchens with granite counters and tumbled marble backsplashes...and even a emergency direct connection to police/fire/amblance service! Be among the first to enjoy all this just minutes off I65 exit 212, Peach Park. Visit this furnished model to learn more.
Learn more about 66 County Rd 632 and other Montgomery real estate by visiting HatTeam.com.

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2008 Montgomery Real Estate Sales Statistics

Tuesday, January 27, 2009
by The Hat Team
After holding fairly stable for a year, pending home sales declined in the face of job losses and an eroding economy, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in November, fell 4.0 percent to 82.3 from a downwardly revised reading of 85.7 in October, and is 5.3 percent below November 2007 when it was 86.9. The current index is the lowest since the series began in 2001.

Lawrence Yun, NAR chief economist, said a weakening was inevitable. “Mounting job losses and very weak consumer confidence deterred home buyers from signing contracts in November,” he said. “December’s housing market activity could be comparably lower due to ongoing problems in the economy, so a real estate-focused stimulus plan is urgently needed.”

Let’s take a look at the sales statistics for 2008 to see how the Montgomery AL real estate market looks:

Montgomery real estate saw pending sales decrease by 18% in 2008 compared to 2007.  The average sales price dropped 4% to $143,536 while sold listings were down 27% from 2007.  Market times showed a decrease by 4 days over 2007.

Midtown
Montgomery
Pending
Sales
Sold
Listings
Average
Market Times
Average
Sales Price
 2008
553
405
89
$143,536
2007
678
556
93
$150,089

The good news is that buyer activity has increased substantially the fist two weeks in January.  This will result in stronger sales and, hopefully, indicate a turnaround.

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.

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