New Year and keeping the eyes on a few of the new schools

Well the New Year of 2014 is now in full swing.  Short post before the heavy work begins.  For the most part, the team is very positive on how this year will go in the local real estate market.

We will expect home prices to climb slowly higher.  New Construction will continue to open new subdivisions and continue to grow.  We hope a property's days on market will decrease.

Although its winter its an excellent time to put a house on the market.  People who are serious have first dibs on the home, and then the build up into the usual springtime rush begins and everyone then begins looking.

We will also be keeping sharp eyes over the course of the year on the rebuilding of Whitesburg Elementary & Middle into the Whitesburg P-8 over Fern Bell Park and the rebuilding of Grissom High School to the West of  Sams in South Huntsville.  They've released the Whitesburg P-8 drawing as seen above, but we're still waiting on the release of the new Grissom drawing.  We'll keep you up to date on that one.  However, if everyone remembers they have designated the old space when Grissom moves.

So we'll alert you to any changes we see or hear about.  Have a great New Year!

Huntsville Metro Area Homes

What to take with you when viewing a home

A tiny post today on something not normally thought about.  What to take with you when viewing a home?

Pen - Have at least two in case one goes bad.

Notepad/Notebook - Have something to write on to take notes about what you see.

Drink or Bottle of water - Not for actual drinking but to moisten the mouth and throat for speaking with the realtor or others.  You wouldn't believe how raspy a voice can become when viewing homes.  Leave the drink in the vehicle when you enter the house.

Flyer or Printout - This can either be in the flyer box in front of the house or an online printout of the property.  Something you can take back with you to make it easy for you to remember room by room.

Questions - Always come with questions.  There are many to ask if not specified in online information, flyers, printouts, public tax records.  You can find out more about a property if you just ask.

These are the basics, but there are other optional that you can bring if you want.  Electronic measuring devices would be one great example of something that a potential buyer can bring.  Sometimes, those stretch out measuring tapes can't get in certain areas or move in ways you want them to.

Today's Tidbit:  Remember rules of etiquette when entering someone else's home.  I.E. Don't touch something that doesn't belong to you.  Its ok to turn on light switches, etc, but don't try to swing from the ceiling fan or use the seller's exercise equipment.  Likewise sellers shouldn't be demanding of potential buyers that come into their home such as taking off shoes or having potential buyers wade through dirty laundry in the hallway.

Here's also an interesting article on American speech patterns in different parts of the country.  We found it over the weekend and thought it would be fun to share it with everyone.

Huntsville Metro Area Homes

Inspiration on Green Mountain

Today we decided to do a quick highlight of a community: Inspiration on Green Mountain.  Admittedly, it was one of our clients who gave this idea when he, I should say they, bought a home in the subdivision and we went up to check on how the house was shaping up.  The team arrived just in time to see the workers just beginning to brick the exterior.  After checking out the interior, we relayed the information back to our client on how well the work was going and told him that everything was coming along beautifully.

Inspiration on Green Mountain is a brand new subdivision being built from the ground up by Woodland Home in Southeast Huntsville on Green Mountain Road off of Bailey Cove Road.  In fact, right now you can actually see homes being built, roofed, and bricked and lots with sold signs on them.  Homes in this subdivision can either be on the bluff with beautiful mountain views or on the interior feeling the wisping winds flow through the subdivision.  Either way just by looking at the model home, you know these homes will be gorgeous when their new owner steps foot inside for the first time.  The School District for Inspiration on Green Mountain is Mountain Gap/Mountain Gap/Grissom.  Prices start at $330,000 for these homes in Inspiration on Green Mountain.

See the flyer put together by Woodland Homes to give you an idea of the layout of Inspiration on Green Mountain.  After this week's drive by, we can tell you real estate is going quick up there on Green Mountain.

Today's Tidbit:  Remember to take your Realtor with you when you are viewing a new construction or considering viewing a model home.  They can remember to ask the questions on the spot that sometimes you don't remember;  It is also good to have a Realtor watching your back, just like the builder has one working for him.

Huntsville Metro Area Homes

This Weekend's Events: Panoply & Spring Tour of Homes

This weekend it looks like we have two events colliding.  On Friday, Saturday and Sunday (Apr 26-28) we have Panoply Arts Festival.  For this weekend and next weekend, the Madison County Builders Association is holding the Spring Tour of Homes.

Panoply is always an interesting experience, you'll never know what or who you'll see.  The music you hear, the dancing, and the delicious food.  Two of AL.com's contributors, Matt Wake & Pat Ammons have put together guides to help find food and events.  Additional Panoply information is also available, and additional AL.com coverage.

The Madison County Builders Association's Spring Tour of Homes is a wonderful showcase.  This year there are 82 properties on the list that are available for viewing 1-5PM Sat & Sun Apr 26-18, and May 4-5th. Information can be found at the Spring Tour of Homes website, as well as locations on their East Map, and West Map.  With the Tour showcasing its best, go ahead and take a look.  And if you see any that interest you don't forget to call us!  After all, when buying a new home rule #1 don't forget to bring your realtor!

Go out and have fun, we'll see you at Panoply!

Huntsville Metro Area Homes

Finance Side Info on Custom Home Builds?

Something we have not discussed is Custom Built Homes.  Good for some, not for all.  If you know what you're doing and have good advice you should be fine.

First, Home Construction Loans.  These are short term loans for the client to build a home.  The client usually puts 20% down on a construction loan.  It should be remembered by the client though that this loan is in their name not the builder, and given in a lump sum to be disbursed as construction progresses. In these types of Custom Build scenarios, banks wanting to limit their risk, check out the contractor and their references.

One of our co-workers who specializes in land for new construction says that land can be anywhere between $20K-$200K all depending on the location and size.  Factors influencing price can be hill side, mountain top, wooded/forested, flatland, etc.

Although many clients build for themselves and their unique tastes, they should always remember that their tastes are should be tempered in case of emergency and have to sell the home.  Resale should always be thought of as a possible future what if.  If worse comes to worse always make sure that it can be resold without difficulty.  Know what you can afford, do your research, get educated, don't go over your limit.  As always for help on who to get for a contractor/builder you can go find reviews or go to the BBB and see what their rating is.  Remember when you minimize your own risk, you maximize your future happiness and ease of mind.

Today's Tidbit:  Redstone Federal Credit Union will be opening a new Full Service branch on Redstone Arsenal at 5216 Mills Road, south of the new shoppette and near the child development center.  Redstone Federal Credit Union President and CEO Joseph H. Newberry states: "This new branch will allow us to provide more convenient service to Redstone Arsenal personnel.  The credit union was originally chartered to serve Redstone Arsenal so we have maintained a strong relationship with the arsenal, and are always looking for ways to better serve them."

Huntsville Metro Area Homes

Nationwide Real Estate Numbers

A new report from the National Association of Realtors have stated sales of existing homes has gone up by 0.4 % from the previous month.  In hard numbers its about 4.92 million homes.  Since January 2012, overall nationwide inventory has fallen by 25 %, this includes new construction.  NAR is reporting that new home construction is expected to continue to be a driving force in the real estate market and be even larger than last year.  This is from current homeowners who are underwater in their mortgage and cannot afford to sell their homes unless they're willing to take a hit.  As these inventories continue to drop, the prices will be pushed higher.

Today's Tidbit:  One of our team members came across this and may be helpful to someone who's making a large purchase at Sports Authority.  20% off a purchase of over $100.00

Huntsville Metro Area Homes

Freddie Mac publicly reporting on state of real estate

Yesterday Freddie Mac came out and publicly reported from their Chief Economist Frank Nothaft that "Across the nation, most local housing markets have room for sustainable growth, particularly in home construction and sales."  This comes as Freddie Mac's US Economic & Housing Market Outlook reveals that the level of buyer affordability is showing continued improvement in home prices and strong sales growth and construction. Freddie Mac also expects housing this year to increase to 950,000 units, about 22% higher than 2012 levels. Meanwhile, existing-home sales are projected to pick up as the housing-price recovery allows home owners who had been forced on the sidelines by negative equity to get back into the market.

Facts and quotes have come from the Dow Jones Newswires.

We believe this is the third iteration in which we've seen positive talk about new construction affordability being a driving point.  We are though, continuing to wait and see if existing home sales increase or will continue to lag behind new construction sales.

Today's Tidbit: We would like to congratulate local dentist Dr. Vicki Vest. for competing with her black Russian terrier, Zoe in the Westminster Kennel Club Dog Show.  Zoe won best in black Russian terrier breed.

We would also like to welcome Rolando McClain to the Huntsville Metro Area as the former Alabama star has bought a 1M dollar property in Clift's Cove subdivision.

Huntsville Metro Area Homes

Confirmation of New Construction/Housing Growth from National Builder

An earlier post stated that the housing market was improving not due to resale of existing homes but of the strong sales of new construction, which had a better value for new over the currently existing homes with maybe older appliances and a maybe need of TLC in one form or another.

Now a new article has come out from the Dow Jones Newswires talking about the major home builder KB Homes (one of the largest home builders in the country) stating that orders for new home construction are up over 50% in this Jan from last Jan of 2012.  The company is feeling positive momentum and is going to be offering $100 Million dollars worth of stock for land acquisition/development, as well as general purposes.  Its stock hovering around 18 has been up 74% in the past 6 months.  Furthermore it has expanded into mortgage banking services as it has teamed with Nationstar Mortgage Holdings to form Home Community Mortgage LLC.

KB Homes position is not unique, as DR Horton (another nationwide home builder) has found itself expanding again.  The housing market is indeed turning around in a positive direction.  Now we only need to see if the resale current existing homes can go positive as well.

In the statement that A rising tide lifts all boats, its possible that in the future if home resales don't go positive it will have to be restated: A rising tide lifts all new boats.

Today's Tidbit:  Several things are going on.  First the Alabama Super RV show is going on from 1/25-27 at the VBC.  2nd, The 2013 Explorers Ball is celebrating 40 Years of Skylab at the Davidson Center at the US Space and Rocket Center on 1/31. Lastly, what does everyone think of American Airlines new logo?

Huntsville Metro Area Homes

New Homes Leading the Way in Housing Growth

With the Real Estate Housing Market slowly coming alive once again, the one leading the charge into positive territory is the New Construction.  Here in the Huntsville Alabama Real Estate Market, we have seen this first hand with the many new construction subdivisions popping up all over the Metro Area.  From West Huntsville to South Huntsville, Construction companies of Breland Homes and Hunter Communities, these new subdivisions have seen growth as clients are supporting these over resale homes.  Clients are getting a competitive price for something new against a resale home which may or may not need a little extra TLC.

With Housing Up 6%, hopefully the market will continue to heal itself and lead to more confident home ownership. The link below will take you to a video talking about possible changes to Fannie Mae & Freddie Mac.  It is certainly worth thinking about as more taxpayers are on the line for mortgages as more people get back into the housing market.

BlackRock Vice Chairman Barbara Novick

Today's Tidbit:  It has been a soggy week in the Huntsville Metro Area.  This is the 6th? day of rain...due to a stuck stationary front over the Tennessee Valley.  This should be pushed out of the way as a new cold front comes through releasing sunshine for Friday, Saturday, and Sunday, and leading to very cold air on Monday and Tuesday in which the highs may not break the freezing point.  Save the pets and plants, keep them indoors.  Remember for local weather you may always go to WHNT.com, WAFF.com, or WAAYTV.com.

Huntsville Metro Area Homes