Real Estate Information Archive

Blog

Displaying blog entries 661-670 of 681

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.
Add Comment

Low Cost Energy Saving Tips For Montgomery Homeowners

Thursday, February 12, 2009
by The Hat Team
I found a great website, Energy Savers, with low cost energy saving tips for Montgomery homeowners. This site provides homeowners with tips for saving energy and money at home and on the road.
 
By following just a few of the simple tips found on this Energy Savers Web site, you can make your home more comfortable and easier to heat and cool—while you save money. The site also helps you beat the high cost of fuel, with driving and car maintenance tips to save you money on the road.

Some easy low-cost and no-cost ways to save energy include: 

  • Install a programmable thermostat to keep your house comfortably warm in the winter and comfortably cool in the summer.
  • Use compact fluorescent light bulbs with the ENERGY STAR® label.
  • Air dry dishes instead of using your dishwasher's drying cycle.
  • Turn off your computer and monitor when not in use.
  • Plug home electronics, such as TVs and DVD players, into power strips; turn the power strips off when the equipment is not in use (TVs and DVDs in standby mode still use several watts of power).
  • Lower the thermostat on your hot water heater to 120°F.
  • Take short showers instead of baths.
  • Wash only full loads of dishes and clothes.
  • Drive sensibly. Aggressive driving (speeding, rapid acceleration and braking) wastes gasoline.
  • Look for the ENERGY STAR label on home appliances and products. ENERGY STAR products meet strict efficiency guidelines set by the U.S. Department of Energy and the Environmental Protection Agency. 
The information on this Web site is also available in PDF format (PDF 2.7 MB).
 
If you are a Montgomery homeowner, I encourage you to check out Energy Savers. Following a few of their suggestions will not only put more money in your pocket, but make our planet healthier and greener.
 
If you are thinking about buying a Montgomery home, visit HatTeam.com. It’s a great place to learn about Buying a Montgomery home and viewing Montgomery homes for sale.
Add Comment

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.

Add Comment

Montgomery Real Estate Sales Statistics - November 2008

Tuesday, January 27, 2009
by The Hat Team
Pending home sales eased against a deteriorating economic backdrop but remain in a stable range, according to the National Association of Realtors®. 
 
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, slipped 0.7 percent to 88.9 from an upwardly revised reading of 89.5 in September, and is 1.0 percent below October 2007 when it was 89.8.

Lawrence Yun, NAR chief economist, said a review of the past year is instructive. “Despite the turmoil in the economy, the overall level of pending home sales has been remarkably stable over the past year, holding in a generally narrow range,” he said. “We did see a spike in August when mortgage conditions temporarily improved, which underscores two things – there is a pent-up demand, and access to safe, affordable mortgages will bring more buyers into the market.”

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

This Novmember, Montgomery AL saw market times decrease by 16 days, when compared to November 2007.  Pending sales have decreased 11% in November 2008 from November 2008.  The average sales price dropped 22% to $115,405 while sold listings were down 30% from November 2007. 

Midtown
Montgomery
Pending
Sales
Sold
Listings
Average
Market Times
Average
Sales Price
November 2008
40
21
71
$115,405
November 2007
45
30
87
$148,420

Once again it is important to note the impact of foreclosure resales on overall statistics. As of today, 50% of the pending sales in Midtown are foreclosures that average $43,261. When the value of these sales is deducted from the overall pending sales data, the average sales price of the other pending sales is $174,432---a marked increase over 2007! Clearly, foreclosures continue to dilute sales price averages but non-foreclosure sales continue to gain ground.

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.

Add Comment

Business Week Names 2 Montgomery Schools As Top Performers

Friday, January 23, 2009
by The Hat Team

Business Week Magazine reports two Montgomery high schools have been named among the state's top five performers.

Loveless Academic Magnet High School was ranked as the state's Best Overall Academic Performer and Booker T. Washington Magnet High School was named the Great School's Parent Choice Public High School for the state.

Both schools received 10 out of 10 points.

Great Schools also gave perfect "10" scores to other Montgomery Public
Schools: Bear Exploration Center, Floyd Middle School, Forest Avenue Elementary, MacMillan International Academy, Brewbaker Technology Magnet High School and Baldwin Art and Academics Magnet School.

LAMP should be especially proud as they were also chose by U.S. News & World Report as the 25th best high school in the nation.

Kudos to all involved!!

Add Comment

Montgomery Among Top Best Performing Cities

Friday, January 16, 2009
by The Hat Team
Amidst the gloom and doom, there’s some good news to report about metro Montgomery. Among large metro areas, Montgomery ranked 38 in the Best Performing Cities in 2008 survey conducted by the Milken Institute/Greenstreet Real Estate Partners. The Best Performing Cities ranking depicts those U.S. metropolitan areas that are recording the top economic performance.
Cities were ranked according to how well they are creating and sustaining jobs and economic growth. The ranking depicts those U.S. metropolitan areas that are recording the top economic performance for wage and salary growth.
Nationally, Montgomery ranked #38 in wage and salary growth for 2008, moving up from the #76 ranking in 2007. In other rankings, Montgomery is # 71 for 5-year job growth, and #65 for 1-year job growth. In Alabama, Montgomery ranked second behind Huntsville, which ranked as the #5 metro area overall.
Add Comment

Let's Fix Housing Now!!

Thursday, January 15, 2009
by The Hat Team

The National Assn of Homebuilders has representatives in Washington DC today pressing for passage of a bill, "Fix Housing First." I'm behind it and encourage you to get behind it as well. In a nutshell, the two key provisions are:

(1) The federal government would offer a tax credit of between $10,000 and $22,000 (depending on locale) to anyone closing on the purchase of a home, new or resale, by December 31, 2009. The credit would not have to be repaid, which is a major upgrade from a tax credit passed last summer; and

(2) The government would provide a federally-subsidized 30-year fixed rate mortgage of 2.99 for all home purchases, new and resale, closing by June 30, 2009. After that, the rate would be 3.99 for purchases closing by December 31, 2009.

Visit

Let's get housing fixed now!

www.FixHousingFirst.com for full details and a direct link to your Senator and Representative.
Add Comment

Montgomery Real Estate: Regulatory Reform Expected With Obama Presidency

Friday, January 9, 2009
by The Hat Team

Montgomery Real Estate: Regulatory Reform Expected With Obama Presidency

The upcoming presidential transition comes at a time of great challenges within the housing industry and the economy at large. Consequently, many are wondering what a Barack Obama presidency will mean for real estate and housing issues.

National Association of Realtors analysts expect the Obama administration and the new Democratic-controlled Congress to focus on regulatory reform of the financial services industry, with potential changes to Fannie Mae and Freddie Mac.

This fall, Obama responded to Realtor® Magazine’s questions about the mortgage crisis, sustainable development, housing affordability and other topics. Read the interview.

to learn more about Montgomery real estate, please contact us at 334-834-1500 or visit HatTeam.com. 

Begin searching for Montgomery real estate and homes for sale.  
Add Comment

Montgomery Real Estate and Homes For Sale: 3475 Cloverdale Road

Thursday, January 8, 2009
by The Hat Team
Montgomery Real Estate and Homes For Sale:
3475 Cloverdale Road,  Montgomery AL 36111
MLS 260662

Wonderful 1950's contemporary architecture in Montgomery's historic Cloverdale!! This split-level has tons of space on 3 separate levels allowing you and your family to spread out! Architectural features include slate floors, vaulted ceilings, secret pass-thru, and wood accents! Big updated kitchen has tons of storage. There are also GREAT outdoor areas such as a private patio off the dining room and a large fenced back yard for the family pet! Lower level perfect for teen or in-law suite and has private entrance.
Learn more about 3475 Cloverdale Road and other Montgomery real estate by visiting HatTeam.com.
Add Comment

Montgomery Real Estate and Homes For Sale: 3344 Lexington Road

Thursday, January 8, 2009
by The Hat Team
Montgomery Real Estate and Homes For Sale:
3344 Lexington Road, Montgomery AL 36016
MLS 260769

Located in historic Montgomery neighborhood of Cloverdale/Idlewild. A tremendous amount of work has been done to get this house ready for its new owners. New roof, new carpet, paint, some plumbing & electrical and a whole lot more. There is a lot of character and charm here with a sunken living room, arched doorways, and more.
Learn more about 3344 Lexington Road and other Montgomery real estate by visiting HatTeam.com.
Add Comment

Displaying blog entries 661-670 of 681

Syndication

Categories

Archives

   cdpe    crsHat Lady on Zillow