Real Estate Information Archive

Blog

Displaying blog entries 251-260 of 422

Montgomery AL Real Estate Sales Statistics - April 2010

Wednesday, May 19, 2010
by The Hat Team

Two top housing economists forecast some encouraging but tempered predictions for the housing market over the next few years during an economic session at the National Association of Realtors® Midyear Legislative Meetings & Expo today.

Top housing economists, Lawrence Yun, NAR chief economist, and Mark Zandi, chief economist and co-founder of Moody’s Economy.com, forecast some encouraging but tempered predictions for the housing market over the next few years. Both agree that job creation is key to an economic and housing recovery, with an improvement in job creation as 2010 progresses. However, they differed somewhat on the impact that foreclosures will have on home price stabilization. Yun expects a slightly stronger demand for housing and a fairly even level of foreclosures. Zandi forecasts an improving demand for housing with foreclosures rising later in 2010 before easing in 2011. Both economists project mortgage interest rates will remain historically low, the availability of jumbo loans will improve and home sales will rise over the next few years.

Let's look at April real estate sales to see how the Montgomery AL real estate market is faring.

Montgomery AL real estate sales statistics for April show pending sales have increased by 8% in 2010 compared to April 2009. The average sales price increased by 9% to $136,662 while sold listings were up by 8% from 2009.  Market times were 27 days more than 2009.

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

Apr 2010

64

37

116

$136,662

Apr 2009

59

34

89

$125,026

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 AL Real Estate Market Trends - Feb 2010

Thursday, March 25, 2010
by The Hat Team

Owning a home is its own reward, but home ownership can also bring rewards at tax time. This year is especially beneficial for people who are in the market to buy a home, thanks to the $8,000 first-time buyer credit and the $6,500 tax credit for repeat buyers.

Current homeowners can benefit, as well. Tax credits are available for owners who improve the energy efficiency of their home, including replacing exterior windows, skylights and doors and installing efficient heating and air conditioning systems. Certain home improvements may qualify for as much as 30 percent of the project cost, up to $1,500.

Homeowners also enjoy a mortgage interest deduction; allowing them to deduct all the interest paid on up to $1 million in mortgage debt. If you bought a home in the past year, be sure to provide a copy of your HUD-1 statement to your tax preparer. The interest you paid at closing is not reflected in your year-end mortgage statement. Points and other closing costs may also be tax deductible.

Many housing markets were affected by an extremely harsh weather in February. Take a look at what February looked like in our Montgomery AL real estate market:

Montgomery AL real estate sales statistics for February show pending sales have remained consistent in 2010 compared to February 2009. The average sales price decreased by 38% to $118,700 while sold listings were up by 32% from 2009.  Market times were 17 days less than 2009.

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

Feb 2010

34

31

93

$118,700

Feb 2009

34

21

110

$190,729

To take advantage of these tax benefits and 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 AL Real Estate Sales Statistics - December 2009

Thursday, January 28, 2010
by The Hat Team

According to the National Association of Realtors®, pending home sales nationally are comfortably above year-ago levels, although the Pending Home Sales Index, a forward-looking indicator based on contracts signed in November, fell from October levels. Lawrence Yun, NAR chief economist, said a drop was expected. “It will be at least early spring before we see notable gains in sales activity as home buyers respond to the recently extended and expanded tax credit,” he said. "We expect another surge in the spring as more home buyers take advantage of affordable housing conditions before the tax credit expires.”

Let's look at December real estate sales to see how the housing recovery is progressing in Montgomery AL. 

Montgomery AL Real Estate Sales Statistics - December 2009

Montgomery AL real estate sales statistics for December show pending sales have increased by 5% in 2009 compared to December 2008. The average sales price increased by 32% to $140,690 while sold listings were up by 7% from 2008.  Market times were 58 days more than 2008.

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

Dec 2009 

37

30

123

$140,690

Dec 2008

35

28

65

$95,446

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 AL Real Estate Sales Statistics - Nov 2009

Friday, December 18, 2009
by The Hat Team

Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the National Association of Realtors®.  

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2.  

Lawrence Yun, NAR chief economist, said home sales are experiencing a pendulum swing. “Keep in mind that housing had been underperforming over most of the past year. Based on the demographics of our growing population, existing-home sales should be in the range of 5.5 million to 6.0 million annually, but we were well below the 5-million mark before the home buyer tax credit stimulus,” he said. “This means the tax credit is helping unleash a pent-up demand from a large pool of financially qualified renters, much more than borrowing sales from the future.  

Let's look at November Montgomery AL real estate sales statistics to see how the housing recovery is progressing locally.  

Montgomery AL real estate sales statistics for November show pending sales have decreased by 2% in 2009 compared to November 2008. The average sales price increased by 17% to $152,392 while sold listings were up by 4% from 2008.  Market times were 28 days more than 2008.

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price 

Nov 2009

39

25

129

$152,392

Nov 2008

40

21

71

$126,000

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 AL Real Estate Sales Statistics - October 2009

Friday, November 20, 2009
by The Hat Team

Congress has voted to extend the current higher Fannie Mae, Freddie Mac and FHA loan limits through 2010. The present loan limits would expire at the end of 2009 and revert to previous lower limits. The higher limits, along with the home buyer tax credit extension, are necessary to keep the markets moving at this critical time," said National Association of Realtors President Charles McMillan.

"Home sales have shown significant movement upwards in the past six months and reduced inventory in some segments of the housing market, but not in all. Home purchases in the middle-income and higher brackets have not moved much, and those markets must improve before we can experience a fully sustained housing recovery. These higher loan limits will help motivate qualified home buyers to purchase in those markets," McMillan said.

Let's look at October real estate sales to see how the housing recovery is progressing in Montgomery AL.

Montgomery AL real estate sales statistics for October show pending sales have increased by 2% in 2009 compared to October 2008. The average sales price decreased by only 1% to $130,053 while sold listings were up by 6% from 2008.  Market times were 22 days less than 2008..

 

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

Oct 2009

38

33

93

$130,053

Oct 2008

37

31

115

$130,844

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

5 Factors That Decide Your Credit Score When Buying Montgomery AL Real Estate

Friday, August 28, 2009
by The Hat Team

If you are buying Montgomery AL real estate, you will want to know what your credit score is. Lenders look at your credit history, debt-to-income ratio and your credit score when qualifying you for a home loan. Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score:
montgomery al real estate
1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.

2. How much you owe.  If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it's a good thing if you have a good proportion of balances to total credit limits.

3. The length of your credit history. In general, the longer you have had accounts opened, the better. The average consumer's oldest obligation is 14 years old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.

4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.

5. The types of credit you use. Generally, it's desirable to have more than one type of credit - installment loans, credit cards, and a mortgage, for example.

For more on evaluating and understanding your credit score, visit www.myfico.com. 

Are you thinking of buying Montgomery AL real estate? Learn about the home buying process at HatTeam.com or give me a call for more personal service.

Search all Montgomery AL real estate and homes for sale. 

Reprinted from Realtor Magazine with permission of the National Association of Realtors.

Add Comment

Montgomery AL Real Estate Sales Statistics - June 2009

Friday, July 24, 2009
by The Hat Team
Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in May, increased 0.1 percent to 90.7 from an upwardly revised reading of 90.6 in April, and is 6.7 percent higher than May 2008 when it was 85.0. The last time there were four consecutive monthly gains was in October 2004.

Lawrence Yun, NAR chief economist, cautions that there could be delays in the number of contracts that go to closing. “Closed existing-home sales have improved but are coming in lower than expected because some contracts are delayed or falling through from the application of new appraisal rules for many transactions,” he said. “Rises in contract activity show buyers are becoming more active even as they face much more stringent loan underwriting standards. Speedy clarification of the appraisal rules could smooth a housing market recovery and support the overall economy.”

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

Montgomery AL real estate sales statistics for June show pending sales decreased by 35% in 2009 compared to June 2008. The average sales price decreased by 2% to $135,350 while sold listings were up 8% from 2008.  Market times showed a increase of 10 days or 10% from 2008.

 

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

June 2009

34

38

99

$135,350

June 2008

52

35

89

$138,532

 

Remember, the clock is ticking onn the $8000 first-time home buyer tax credit. give us a call to make your dream hyome a reality!

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 AL Real Estate Sales Statistics - May 2009

Friday, June 19, 2009
by The Hat Team
Record low mortgage interest rates boosted pending home sales for the third consecutive month, with some benefit now from the first-time buyer tax credit, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in April, rose 6.7 percent to 90.3 from a reading of 84.6 in March, and is 3.2 percent above April 2008 when it was 87.5.

Lawrence Yun, NAR chief economist, said buyers are responding to very favorable market conditions. “Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market,” he said. “Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers.”

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

Montgomery AL real estate sales statistics for May show pending sales increased by 2% in 2009 compared to May 2008. The average sales price decreased by 25% to $112,384 while sold listings were down 13% from 2008.  Market times showed a increase of 1 day or 1% from 2008.

 

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

May 2009

42

33

87

$112,384

May 2008

41

38

86

$150,966

 

The decline in Midtown's average sales price reflects the continued absorption of many inexpensive foreclosure properties.  Investors in our market have decided now is the time to buy, and they are grabbing up the low-priced houses and rehabbing them for resale.

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 AL Real Estate Sales Statistics - April 2009

Thursday, May 21, 2009
by The Hat Team

Pending home sales rose with many first-time buyers taking advantage of historically good housing affordability conditions, according to the National Association of Realtors®

 

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, increased 3.2 percent to 84.6 from a level of 82.0 in February, and is 1.1 percent higher than March 2008 when it was 83.7.

Lawrence Yun, NAR chief economist, said it should take a few months for the market to gain momentum. “This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a downpayment,” he said. “We need several months of sustained growth to demonstrate a recovery in housing, which is necessary for the overall economy to turn around.”
 
Let’s take a look at the March sales statistics to see how the Montgomery AL real estate market looks: 

Montgomery AL real estate sales statistics for April show pending sales increased by 12% in 2009 compared to April 2008, the average sales price increased by 1% to $124,291 while sold listings were up 6% from 2008.  Market times showed a decrease of 2 days or 2% from 2008.

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

Apr 2009

59

34

94

$124,291

Apr 2008

52

32

96

$122,842

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 AL Real Estate Sales Statistics: October 2008

Friday, November 21, 2008
by The Hat Team
The National Association of Realtors® has stepped up its challenge to lawmakers encouraging them to take new, decisive actions to address the continuing problems in the housing industry, as well as the ongoing economic crisis.

“Our members see firsthand the impact that an unstable housing market is having on communities all across this great country,” said Richard F. Gaylord, NAR president. “The U.S. Treasury and Congress need to work together to ensure that the American people – not Wall Street and large banks – benefit from the economic recovery plan.”
NAR sent a letter last week to U.S. Treasury Secretary Henry Paulson calling on him to refocus the Federal Housing Finance Agency’s efforts on restoring strength to the mortgage-backed securities market, which would help lower mortgage rates for all home buyers and for those who need to refinance.
Let’s take a look at the sales statistics for October 2008 to see how the Montgomery AL real estate market looks:
Of the 37 Midtown Montgomery properties sold in October, 6 were foreclosures at an average price of $60,475.  Deducting these distress sales from the October stats, we see an average sale price of $144,464—still way below a year ago and a direct result of buyer reaction to the unstable market cited by Gaylord.

Midtown
Montgomery
Pending
Sales
Sold
Listings
Average
Market Times
Average
Sales Price
October 2008
37
31
115
$130,844
October 2007
35
37
88
$177,901

The Hat Team is seeing a real rush of interest among investors, who seem to sense we are at or near the bottom of the market.  And is ALWAYS the practice among investors, they don’t “buy at retail” but invest only in the best deals on the market.  When those are gone, we will see prices return quickly to normal. 
 
For the latest Montgomery AL real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.
Add Comment

Displaying blog entries 251-260 of 422

Syndication

Categories

Archives

   cdpe    crsHat Lady on Zillow