Don’t despair if you are short on cash. You can still have a beautiful Huntsville home. Sometimes a little elbow grease is a decent replacement for extravagant money, and other times you can get great deals by shopping around for items that are costly.
Indoors
Simple things can mean a lot. You can change the entire look and feel of a room by just changing the window treatments. New drapesor blinds add warmth and appeal and instantly give your Huntsville home a fresh new look.
If that’s not enough, a fresh coat of paint transforms any room. Paint is one of the least expensive home decoratingtools, and you can save even more money by doing it yourself instead of hiring a painter. It doesn’t require a lot of skill and is hard to do wrong.
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.”
Madison County/Huntsville Real Estate Sales Statistics
Madison County and Huntsville real estate saw a decrease of 25% in sold listings when compared to June 2008. The average sales price increased by 2% to $212,762. Average price per square foot decreased by 2%. And the average list price increased by 2%. While homes were on the market an average of 7 days less than June 2008.
Date
Sold
Listings
Average
List Price
Average
Sale Price
Percent
SP/LP
Average
DOM
Average
Price
SqFt
June 2009
405
$218,211
$212,762
97.50%
89
$90
June 2008
543
$212,925
$208,469
97.91%
96
$92
This is a great time to consider buying or a home in Huntsville or Madison AL. Housing affordability is at an all-time high, interest rates are at near record lows and now first-time buyers can use their $8,000 tax credit towards a down payment.
Don’t hesitate and lose out. Give me a call and learn how you can take advantage of the $8,000 tax credit for first-time home buyers.
For more information about Huntsville real estate, please visit MoveToHuntsville.com or call me at 256-508-0211.To begin searching Huntsville real estate and homes, please use my complimentary MLS search.
Statistics are based on information for the North Alabama Association of Realtors and are deemed reliable but not guaranteed.
First time buyers and investor’s take note. 2104 Summer Avenue is the perfect place for you. Complete with 2 bedrooms and a study which is great for a home office. The dining room and kitchen provide ample space and there is a separate laundry area. No need to worry about storage there is a shed outback. Don’t miss this opportunity to buy your first home or invest in your future.
Learn more about 2104 Summer Avenue and other Huntsville real estate by visiting MoveToHuntsville.com.
The Huntsville real estate market is a home buyer’s dream right now! Whether you’re looking to buy a new home or to buy investment property, it’s the perfect time. Home prices are down, which means that well-informed buying could benefit you in the long run. There are several tips I can offer you on how to get the best price when you buying a home:
Shop around in the neighborhood where you’re looking to buy. The only way to know if you’re getting a good deal is to look at home prices in the same neighborhood. Ask your real estate agent for listings that are similar to the Huntsville home that you’re looking at. Evaluate the two homes and their prices to ensure that you’re getting a good price. Your real estate agent can help you with this evaluation.
Play the negotiator when writing your contract! One way to try to bring down the price of the home is to offer a lower price on your contract. Offering a slightly lower price than what the homeowner is asking is a place to start trying to save some money. If the homeowner is firm on the listing price, you can look to cut costs in other areas. One way you may be able to lower your cost is by asking the seller to pay your closing costs.
Check how long the house has been on the market. If a home has been on the market for an extended period, the homeowner is going to be more likely to lower the price. A house that has not had any offers in a few months gives you, the homebuyer, an advantage. The homeowner may be willing to lose a few thousand dollars in order to sell the property to you.
Especially now, it’s possible to get a good price in the Huntsville real estate market. Let me help you negotiate an excellent price for your new home. Call me today at 800-803-0053 or 256-508-0211 or email me at mike@movetohuntsville.com.
Alabama’s Housing Affordability index is the ratio of the state’s actual median family income to the income needed to purchase and finance the state’s median priced home. An index number of 100 means that a family earning the state’s median income has just enough buying power to qualify for a loan on the state’s median priced, single-family home, assuming standard underwriting criteria. The higher the index number is the more affordable the housing.
Huntsville Housing Affordability Statistics
2009 Median Income: $67,500
4th Quarter 2008 Median Sales Price: $143,633
1st Quarter 2009 Median Sales Price: $141,667
AHA 4th Quarter 2008: 194.6
AHA Index 1st Quarter 2009: 227.2
Percentage of Change: 16.71%
Now is a great time to buy a Huntsville home! Affordability has increased as the cost of Huntsville homes has moderated. First-time Huntsville home buyers can take advantage of the $8,000 tax credit and interest rates have fallen. Give me a call for help buying your dream home!
Experience an upscale lifestyle at this 2729 square foot home in Hampton Cove AL. You’ll enjoy the quality interior finishes along with the resort-like backyard.
A 2-story foyer greets your guests as they enter. They will be impressed with the sparkling wood flooring and custom crown molding. If a formal dinner party is planned, guests will relish in the sophistication of the formal Dining room with its coffered ceiling and wainscoting. A dramatic 2-story ceiling in the Great room creates a casual elegance for both family and friends. The gas fireplace will warm the soul when cooler fall evenings arrive, while the recessed lighting offers brings the outdoors in. The designer Kitchen is sure to please the family chef with its stainless appliances, granite counters, tile backsplash and work island. A pantry offers an abundance of storage…something we can always use. The informal dining area overlooks a lovely backyard and includes your very own wine cooler. A spacious recreation room is the perfect place for kids to let their hair down and have some fun. Or you can use this area as a 5th bedroom.
The first-floor Master suite provides a place for quiet relaxation away from it all, as well as a bath with Whirlpool tub, separate shower dual vanities and walk-in closet. The additional 3 bedrooms are all spacious, light, and bright.
Last but not least is the resort-like yard featuring a covered patio. You’ll be impressed with the tile flooring, ceiling fan, drapes for privacy and wiring for a flat-screen TV. A 18×36 in-ground pool with diving board is surrounded by a spacious pool deck with room for lounges and tables. This yard will make you the envy of all your neighbors and friends. You’ll never have to wonder where the kids are either! The sprinkler system for irrigation allows for even more fun time! You will be on vacation year-round with 2526 Audubon as your new home!
Learn more about 2526 Audubon Lane and other Huntsville homes for sale by visiting MoveToHuntsville.com.
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Sellers — Huntsville Real Estate Expert Mike Manosky
If you’re thinking of listing your Huntsville home for sale and know it needs a little sprucing up, here are a few tips on the smartest home improvementsyou can make to help sell your home faster and for more money.
Kitchen remodelingstands at the top of any list of most attractive projects for re-sale value. Crisp clean new cabinets, fresh tile and countertops all make for buyer approval and is money well spent.
Bathroom remodeling is a good bet but not nearly as good as adding additional bathrooms, unless your home already has a lot of them.
Adding central heat and air to replace floorboard or radiator heat is a huge selling point for any Huntsville home for sale.
Installing a deckor patio. This one hovers close to the middle of the do/don’t numbers but it is still a nice investment that can make your home feel more comfortable and give it more ’space.’
Items that are less likely to be worth the money include:
Installing a backyard pool. Some people think a pool is attractive. To many buyers, it’s nothing but additional work and expense. Unless you live in a climate where the majority of people want a pool, steer clear of this investment.
Converting your basement into a finished living space. Many buyers like a finished basement, but it’s the main living space that counts most to them. Your money would be better spent above ground.
It is important to fix up your home to get it ready for buyers. But with money tighter than we’ve seen it in a long time, you need to focus on those improvements that will give you a good return on your money.
If you’d like more tips on what works and what doesn’t when fixing up your Huntsville home for sale, I can help. Call me today at 800-803-0053 or 256-508-0211 or email me at mike@movetohuntsville.com.
There were 160 new Madison County foreclosures in May 2009, according to RealtyTrac.com.
Madison County Foreclosure Activity May 2009
Madison County Foreclosure Activity and Home Price Index
Madison County foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or repossession notice – each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.
Madison County Foreclosure Geographical Comparison
Madison County foreclosures are 0.13% below national statistics and 0.03% above Alabama figures.
Are you or someone you know behind on your mortgage payments and facing a foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. Give me a call for a private consultation.
You will have plenty of room to entertain in this gorgeous ranch style home. This beauty is situated on a secluded one acre lot on top of Green Mountain. Want to enjoy your view? Step into the sunroom with tile flooring and a wall of windows overlooking it all. You can also gather your family and friends and head on down to the basement for a good time. This recreation room is full of surprises with a decorative stone fireplace, four ceiling fans and a tiled bathroom; no one will want to leave. You will not miss any of the fun as the kitchen is open to the family room complete a wood burning fireplace. Your chef will love preparing dinner in the designer kitchen offering a double oven huge island, granite countertops and stainless appliances. The gracious breakfast area is perfect for family dinners by the fireplace. No need to worry about spills as the hardwood floors extend from the kitchen to the great room. Relax in the master suite complete with a sitting area and beautiful views. The two additional bedrooms are perfect for your little ones. No need to worry about the animals roaming away as there is a split rail fence. Bring your family and your guests to this delightful home in Saidla!
Learn more about 5008 Green Oaks Circle and other Huntsville real estate by visiting MoveToHuntsville.com.
Huntsville real estate sales are down, but not as much as other areas of the county due aerospace and high tech jobs.
Local businesses and facilities include Boeing, PPG Aerospace, NASA, and the Marshall Space Flight Center. In addition, approximately 4,700 new military jobs will be created at the Army’s Redstone Arsenal due to base realignment.
Unemployment has gone up slightly, says Ahmad Ijaz, economic analyst at the University of Alabama’s Center for Business and Economic Research. And the recession has caused fear and anxiety. Consumer spending has declined, and home sales fell 22.7% in May in Huntsville, compared with the same month last year. Fewer multiple offers are being seen this year than in 2008.
But Huntsville real estate is still selling, especially those priced at $300,000 and less. Slower-selling high-end homes are maintaining prices. In the past, the housing market has been resilient.
