Huntsville’s real estate market remains stable to improving in the face of national housing bubble burst.
Taking into account seasonal variation the Huntsville market grew steadily throughout 2009. December 2009’s median selling price was $169,900, up nearly 3 percent from December 2008. 400 homes were sold last December an increase of over 34 percent from December 2008. The average days on market for homes sold in December was 88 days an reduction of 27 days compared to 115 days in December 2008.
Home sales and prices in the Huntsville Real estate market remained relatively steady with signs of improvement last year. Sales of larger more expensive homes were slower causing the median sales price to slip a bit. The median home sale in 2009 was $168,317, compared with $172,733 in 2008 and $169,275 in 2007. The slipping of sales prices of more upscale homes was cause by a combination of overbuilding in anticipation of the influx of BRAC positions, more stringent home mortgage guidelines and of course the slowing economy.
When we accepted a new job in Huntsville at Raytheon, the relocation company assigned us a realtor . That realtor either didn’t understand the local Huntsville real estate market or didn’t want to invest the time to assist us in our move from Tucson. We found Philip online at the www.Huntsville-Homes.com website. Philip was just what we were looking for. He told us about areas of Huntsville to consider and started sending us properties that would meet our needs while staying in our price range. Since we didn’t have much time, he previewed houses for us, sent additional photos and gave us his impression of the homes he viewed. When we made our house hunting trip we had narrowed our search down to just a few houses. Philip helped us determine what to offer for the house and negotiated what we feel was an exceptional purchase. He helped us set up home inspections and informed us about the risk of dangerous radon levels in Huntsville and specifically in the area where the home we picked to buy is located.
After the inspections Philip helped us negotiate to have several repair items corrected. We were pressed for time when we flew back into Huntsville for closing and Philip helped us have our utilities turned on and to get to closing. We were blessed to have found philip and plan on calling him we start to look for investment homes in Huntsville once we get settled in.
~ Jason and Avery
The average rate for 15-year mortgages reached a new bottom this week, dipping from 4.40 percent to 4.32 percent—the lowest level since Freddie Mac began tracking rates in 1991.
Rates for 30-year mortgages approached the all-time low of 4.78 percent again last week, falling to 4.83 percent from an average of 4.91 percent a week ago.
Wellesley College economist Karl Case says the Federal Reserve's efforts to purchase mortgage-backed securities from Fannie Mae and Freddie Mac is lowering rates on home loans.Source: Boston Herald, Thomas Grillo (11/20/09)
We are thankful each and everyday to be real estate professionals in Huntsville. Yes, certain market segments have been slow but as we finish the third quarter of the year Huntsville real estate has been very good to us. Sales have shifted from upscale homes to modest and entry level properties but our volume has increased . In short we have had another great year so far.
We have worked with an unusually high number of first time homebuyers this year and couldn’t be more pleased. He commissions we receive with the smaller homes is less but the sense of satisfaction in helping excited, anxious buyers more than compensates. We have never seen so many hugs, thank you’s and invitations to meet the family and friends of our buyers. We had a burley male army officer who demanded a hug at closing and young lady who was convinced we were a Godsend,
There have been a few notable changes in our local
Our rental department continues to grow and thrive. While sales of
While we did sell a lot of Huntsville investment property to real estate investors in the past several years, I’m actually pleased to see the pace slow. There were a lot of out of state investors who made horrid purchase decisions in Huntsville. Many of them came to us for help when the rents and appreciation rates they were promised tuned our to be grossly overstated. We saw more than one investor loose their property in foreclosure because they made decisions based on unrealistic predictions.
Huntsville Real Estate Sales Very Robust in October Rudulph/Brander Real Estate Statistical Reports in it's recent news letter stated that;
For a second month in a row, the Huntsville, North Alabama market performed substantially better than expected. In October sales were 13% above September results. This is the best October to September comparison in ten years. October total dollar sales were $138,995,936, compared with $123,448,487 in September, and 19% above last year’s level of $116,676,494 Total unit sales increased from 766 in September to 865 in October, an increase of 99.
New sales increased from 156 homes last month to 178 this month, an increase of 22.
Existing homes sales increased from 610 homes last month to 687 this month, an increase of 77
The first realtor I had in Huntsville didn’t work out at all but when I found Philip online he took the time to learn what I was looking for and to educate us on the Huntsville area. After showing us a lot of properties we started to focus on an area that was just being developed, with great schools that was near Redstone Arsenal where I work. Philip worked through several issues with the builder with us and went well beyond what we expected of a realtor. We have referred colleagues within the Army Materiel Command to Philip and will defiantly call him when we are ready to make our next home purchase.
~M.C.
Congress has extend and expanded the homebuyer tax credit!
Both the House and the Senate have passed an unemployment insurance bill, which includes an amendment that expands and extends the homebuyer tax credit. That bill will be sent to President Obama for his signature in the next day or so. The bill includes a provision for current homeowners to purchase a new home.
Please click here for more information on the bill and who qulaifies for the credits.
We really appreciate Mr. Winburn and all he did to help us buy our new house in Huntsville. Before finding Mr. Winburn we had some bad experiences with other realtors and were worried that we wouldn’t find someone we could trust. Over several months Mr. Winburn helped us look for properties and to learn the local real estate market. He was patient and spent whatever time we needed to answer our questions and to find the right house. Mr. Winburn helped us negotiate a great deal and assisted us with setting up our financing and home inspections. He followed up with us after closing to make sure that important details were taken care of. Again, we are thankful and appreciative of what Mr. Winburn was able to do and continues to do for us.
~ Jason and Candice
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