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Montgomery AL Real Estate Market Trends Update

Thursday, December 20, 2007
by The Hat Team

The National Association of REALTORS® has published the results of its quarterly sales survey and found that the median home price continues to rise in most metropolitan areas.  The median is a typical market price – meaning half of all homes sold for more, and half of all homes sold for less.

 

Lawrence Yun, NAR chief economist, said the data underscores the fact that all real estate is local.  “Some metro areas are hot, while others are experiencing localized problems,” he said.

 

The November sales statistics for Midtown Montgomery will give us a better idea of our local market:

 

The Midtown Montgomery market again saw a decrease in pending and sold listings in November 2007, when compared against November 2006.  Pending sales were down 19% and sold listings decreased 14%.  Average market times increased 8% in November to 89 days.  The increase in the average sales price from last November to this November was negligible.

Midtown
Montgomery

Pending
Listings

Sold
Listings

Average
Market Times

Average
Sales Price

November 2007

39

30

89

$143,108

November 2006

48

35

82

$142,736

Remember, as Yun said, all real estate is local and changes from month to month.  Also remember that, unlike newer areas where all the homes are pretty much alike, Midtown contains Montgomery's most diverse selection of residences.  Thus, not all swings in value and sales are attributed to "market conditions."  Rather, those fluctuations often reflect periods when homes that are more renovated and/or larger have or have not changed hands.  Overall, we continue to hear from our Realtor peers in other parts of town that they are struggling; and we remain busy and productive!

To get the latest information on Montgomery AL real estate, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.  To receive a complimentary home value analysis, please visit MontgomeryHomeInfo.com. 

 

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

Thursday, December 13, 2007
by The Hat Team

The Hat Team presents the latest edition of the Montgomery Real Estate Podcast.

This month's edition covers Montgomery real estate market activity and then we’ll cover the important items you need know about buying and selling in winter.

Features special guest Terri Murphy of US Learning.

Program length: approximately 7 minutes

download podcast mp3 file   |   subscribe to podcast feed

For more information about Montgomery AL real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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Montgomery AL Home For Sale - 6256 Nature Dr.

Wednesday, December 12, 2007
by The Hat Team

This well maintained Montgomery East home has easy care vinyl trim and brick exterior. Living room has brick accent wall with cedar trim (could be used as formal DR.) Den/family room boasts vaulted ceiling and real fireplace. Kitchen with breakfast nook. Large fenced back yard with covered patio. Priced right, so don't delay!

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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How to Add Light to Your Montgomery AL Home

Thursday, December 6, 2007
by The Hat Team

Now that we’ve rolled our clocks back an hour and are beginning to adjust to the earlier onset of evening, our homes can seem darker than usual even during the daytime.  But there are ways to use the natural light that is available in your home to brighten things up.  Money Magazine has published a list of “Do’s” and “Don’ts” for adding light to any home – among the topics covered are:

 

  • Skylights (pick ones that open and choose carefully where to put them)
  • Big windows (install them to showcase your best views, but don’t forget to add small windows above or below them that open)
  • Window height (put windows high on the wall, but not tight to the ceiling)
  • Window grouping (group several windows together, but don’t separate them with fat supports)
  • Window shades (install shades in windows that face east, west, and south; avoid using UV-inhibiting coating)

Following these tips for adding light to your home will help to increase your home’s value.  To receive a complimentary comparative home value analysis, please visit MontgomeryHomeInfo.com.  For more information about Montgomery AL real estate, please visit HomesForSaleInMontgomeryAlabama.com or call me at 800-HAT-LADY. 

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Montgomery AL Home For Sale - 1230 Woodward Ave.

Friday, November 30, 2007
by The Hat Team

Bring your contractor and bring this house back to what it once was!!! Seller has already done the Home Inspection and Structural inspection for you. Now all you have to do it to determine how far you want to go with the restoration. Has been a rental property but owner now says sell, so priced accoringly. Has central heat & air, on a great lot, in a great location, but the floors roll like the Gulf of Mexico. If you are looking for an affordable property in the heart of Old Cloverdale, and want a project, then this house is for you. Call today to see it before it's gone.

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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The Many Myths About Homeownership

Thursday, November 29, 2007
by The Hat Team

Many would-be homebuyers are stuck in the feeling that they will never be able to qualify for a mortgage.  However, applying for a mortgage today is very different than it was 10 or 15 years ago.  With many creative financing offers available today, more and more people are able to become homeowners.  FreddieMac.com has put together a list of “myths” about becoming a homeowner, and it shows just how realistic homeownership can be for most people.  Here are just a few of the Many Myths About Homeownership:

Myth: You need great credit to become a homeowner.
Fact: You may still be able to buy a home with less-than-perfect credit. And remember, you can improve your credit over time.

Myth: You need to put 20% down to buy a home.
Fact: There are many types of mortgage products and programs that allow low and no down payments. But remember to factor in other costs such as closing costs, property taxes, moving

Myth: Lenders share your personal financial information with other companies.
Fact: By law, banks and other financial institutions are restricted in their uses and disclosures of information about you. In some situations, you may choose to restrict the disclosure of your information if you don't want it to be shared.

Myth: You can't get a mortgage if you've changed jobs several times in the last few years.
Fact: Not true. You can change jobs several times and still get a loan to buy a home. Lenders understand that people change jobs. The important thing is to show that you've had a stable income.

If you are ready to get on the path to homeownership in Montgomery AL, please call me today at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.  You may also begin searching Montgomery AL real estate here!

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Happy Thanksgiving, Montgomery!

Wednesday, November 21, 2007
by The Hat Team

May your Thanksgiving be blessed with the bounty of the season and the love of family and friends!

 

We’ll be back next week with more of the latest Montgomery AL real estate news and information!  In the meantime, please feel free to contact me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

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Montgomery AL Real Estate Update

Thursday, November 15, 2007
by The Hat Team

Temporary problems in the mortgage market are expected to free some pent-up demand, but disrupted existing-home sales and distorted prices on sales closed in September, according to the National Association of Realtors®.  Even so, prices continued to rise in some area.  Because of this and other factors, total existing home sales fell 8% and are 19% below the level that they were in September 2006.

 

Lawrence Yun, NAR senior economist, said the decline is understandable.  “Mortgage problems were peaking back in August when many of the September closings were being negotiated . . . the good news is that mortgage availability has markedly improved in recent weeks . . .”

 

Let’s take a look at the midtown Montgomery October sales statistics to see if this trend held true:

Midtown Montgomery saw a decrease in pending and sold listings this October, when compared with October 2006 - they dropped 24% and 27%, respectively.  The average market times were up only by 9 days, or 11% while the average sales price continued to climb 7%, bringing it to $152,049 for the month of October.

Midtown
Montgomery

Pending
Listings

Sold
Listings

Average
Market Times

Average
Sales Price

October 2007

32

30

85

$152,049

October 2006

42

42

76

$141,559

This is a great time to consider buying a home in Montgomery.  For more information about Montgomery AL real estate, please visit HomesForSaleInMontgomeryAlabama.com or call me at 800-HAT-LADY.  To begin searching for Montgomery AL homes, please use my complimentary MLS search. 

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Montgomery AL Home for Sale - 3442 Bankhead Ave.

Friday, November 9, 2007
by The Hat Team


This grand home has everything for the growing family. Classic foyer with graceful staircase opens to spacious formal dining room and large formal living room with bay window and built-in bookshelves. The family room has a marble hearth fireplace and big picture window with excellent views of the stunning rear yard. The oversized sunroom is perfect for gathering room, "kids" room, and has space for breakfast area off kitchen. You'll love the newly updated chef's delight kitchen and the HUGE separate laundry room will cause you to love to do laundry. Main bedroom, 2 guest rooms and study occupy the south end of the second floor...and there is a separate suite with private bath, dressing area, and it's own set of stairs perfect for in-law, nanny, or teenager who needs privacy. One car attached garage, multiple parking pads, brick privacy fence, and huge tree filled fenced back yard make this home more like an "estate" than just a house.  Check out the Virtual Tour!

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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Montgomery’s Economic Outlook Promising, Experts Say

Thursday, November 8, 2007
by The Hat Team

Below are some highlights from a recent article in the Montgomery Advertiser that speaks of good news for Alabama’s economic outlook: 

 

Compass Bank hosted its Business Leader Confidence Index luncheon last Wednesday, and two experts said the economy is sending mixed signals that largely depend on where they originate and how large of an area they cover.  While the economic outlook for the nation as a whole is not great for at least the beginning of 2008, leaders agreed that the outlook for Montgomery is quite good.

"I think it is quite decisive," Sam Addy, president of Compass Bank, said. "People have good reasons to be optimistic.'

Locally, those reasons are obvious, he said.

Home prices over the past 10 years are up less in Montgomery than either nationally or statewide.

Montgomery's per capita income is 93 percent of the national average -- the highest it has ever been, he said -- and it is higher than the state average.

Alabama and Montgomery are in danger of creating jobs faster than they can fill them, meaning people are moving to the state and area.

He said business leaders trace that growth to a working partnership between government and industry.

Are you thinking of relocating to Montgomery AL?  Please call me at 800-HAT-LADY or visit HatTeam.com to learn more about Montgomery AL real estate.  You may also begin searching for Montgomery AL homes here.

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Displaying blog entries 91-100 of 128

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