Your Guide to Living In Greater Birmingham

Birmingham Alabama Real Estate Luxury Homes Market Watch January-September 2007

The Birmingham Alabama Luxury Home Market has been coming up a lot over the past few weeks based upon statistics from the Birmingham MLS. According to the Birmingham MLS luxury home sales are up. (Let me note for this article, I am classifying luxury properties as those that sell/list for one million or more.)

Sold Properties
Jan-Sept 2006
Number Sold: 69
Average Price: $1,375,566
Price Range: $1,000,000-$2,700,000
Avg. Days on Market: 108
Percent of Asking Price: 95.54%

Jan-Sept 2007
Number Sold: 85
Average Price: $1,463,868
Price Range: $1,000,000-$3,495,000
Avg. Days on Market: 122
Percent of Asking Price:94.66%

According to this, 85 million dollar plus homes have sold so far this year. The highest price sell was $3,495,000 and the average million dollar plus home that sold, sold for $1,463,868. Average days on market for the sold luxury homes was 122 days up 14 days from the same time frame in 2006. However, the average sold price is $1,463,868 which is up $88,302 from the same time period last year.

Listed Properties
Jan-Sept 2006
Number Listed: 216
Average Price: $1,572,977
Price Range: $1,000,000-$4,500,000

Jan-Sept 2007
Number Listed: 239
Average Price: $1,540,245
Price Range: $1,000,000-$4,999,000

According to this, 239 million dollar plus properties have been listed this year. This number is up from 216 properties during the same period last year. Unlike the sold properties though, the average list price is down $33,732. Let me add the even with these numbers being high all of them do not stay on the market. Many are withdrawn or expire and not put back on the market.

Properties Still Active
as of 10/26/07
Number Active: 174
Average Price$1,649,460
Price Range$1,000,000-$4,999,000
Avg. Days on Market: 178

According to this, there are 174 active million dollar plus properties. The highest price home right now is for $4,999,000. Average active price is $1,645,460. The average days on market for the active properties are 178 days.

* Areas included are Jefferson, Shelby, and St. Clair Counties
* All statistics are accurate as of 10/26/07 according to the Birmingham MLS

Halloween Memories Should Be A Treat and Not Haunt You

Halloween can be a fun time for all of us with families, but like all else. We need to make sure we are doing the things to make sure it is safe and fun.

I found this website, Halloween Safety Guide, while doing some searches on Halloween Safety and thought it would be a benefit to us all.

On the site t hey outlined safety tips for kids, parents, pets, parties, costumes, and yard haunts. Some of the tips they gave were:

1. "Teaching your kids basic everyday safety such as not getting into cars or talking to strangers, watching both ways before crossing streets and crossing when the lights tell you to, will help make them safer when they are out Trick or Treating."
2. "The best bet is to make sure that an adult is going with them. If you can't take them, see if another parent   or a teen aged sibling can go along."
3. "To keep things moving for either an adult party or child's party, make sure that you have some games, like a scavenger hunt or a murder mystery planned in advance."
4. "Instruct your children not to eat any treats until they bring them home to be examined by you."
5. "When building your haunt, make sure that the walk ways are far enough away from things so that people can't trip over them or hurt themselves. This also is good for you, this means that your visitors won't be able to ruin your props and sets. Some people just have to vandalize at this time of year and ruin it for others."
6. "If you are going to dress your pet in a costume, keep in mind that unless the dog or cat is extremely receptive to this kind of thing, you could be causing it discomfort and stress. Some animals don't mind at all but others do not want to be bothered with this kind of thing. They'll be under enough stress with the festivities going on outside and people at the door constantly so don't cause them any more nervousness then you have to. You may love to dress in costume but then, you aren't a dog or a cat."

These were just some of the tips they listed. It would be a good idea for anyone participating to check out all the lists themselves! It is Halloween Safety Guide.

Let's make sure our memories are a treat and not a haunting and frightening remembrance!

Sign the final documents, get the key, and move into your new home: Step 8 of 8 to Buying a Home in Birmingham Alabama

Buying a home can be a daunting task. Because, most people only buy a home once every few years (or longer), we wanted to take the time to remind you of the steps involved in buying a home. This way, you can feel like you have some control of this home buying process.

We have identified eight steps to buying a home. These are:

1. Decide to buy a home.

2. Find a great real estate consultant.

3. Secure financing

4. Find your dream home.

5. Make a written offer and negotiate the price.

6. Open an escrow account. (Earnest Money)

7. Have a home inspection.

8. Sign the final documents, get the key, and move into your new home.

Yes, it is true, it is time for step 8, Prepare to sign the final documents at closing, get the keys to your new home, and move in!

Finally!  You decided to buy a home, found a great real estate consultant, secured financing, found your dream home, made a written offer, negotiated price, paid earnest money, opened an escrow account, had a home inspection..... WHEW! You have cleared the title to the property, and you have closed on the deal.  All you have to do now is move in and put out the welcome mat!

Welcome home!

 

Have a Home Inspection: Step 7 of 8 to Buying a Home in Birmingham Alabama

Buying a home can be a daunting task. Because, most people only buy a home once every few years (or longer), we wanted to take the time to remind you of the steps involved in buying a home. This way, you can feel like you have some control of this home buying process.

We have identified eight steps to buying a home. These are:

1. Decide to buy a home.

2. Find a great real estate consultant.

3. Secure financing

4. Find your dream home.

5. Make a written offer and negotiate the price.

6. Open an escrow account. (Earnest Money)

7. Have a home inspection.

8. Sign the final documents, get the key, and move into your new home.

Step 7, have a home inspection. The purpose of a home inspection is to protect you from buying a home that may have serious hidden structural problems or defects. I have written about this a number of times in the past. Rather than rehash all of the previous posts, I will just link to them here:

1. Popeye says "Get A Home Inspection!"
2. Birmingham Alabama Home Buying Process: Seventh is the Home Inspector and Who Are All These Other People?
3. An Optical Octopus Illusion Illustrates the Need for a Home Inspection

Once you have had a home inspection and have worked with the seller to see what you are going to have repaired or replaced, it is time to get ready for step # 8. Prepare to sign the final documents at closing, get the keys to your new home, and move in

Trussville Alabama Real Estate Market Statistics September 2006 vs. September 2007: Now and Then

I think it's important as a Real Estate Consultant serving Trussville Alabama Real Estate, as a resident, or a future home buyer or seller in the Trussville Area to know the stats.

With so much media coverage about "the state of the real estate market" being broadcast, I want to start doing a now and then segment to show how the market has changed from one year to the next.

September 2007
Listed Properties (during the month): 64
Average Price: $305,422
Price Range: $105,000-$985,000

September 2006
Listed Properties (during the month): 88
Average Price: $249,221
Price Range: $41,329-$594,900

September 2007
Sold Properties: 26
Average Price: $255,572
Price Range: $109,900-$500,000
Average Days on Market: 80

September 2006
Sold Properties: 65
Average Price: $244,941
Price Range: $122,000-$552,870
Average Days on Market: 76

If you would like to be contacted as soon as homes become available in the Trussville area just let me know, or if you would like to see statistics about other areas, don't hesitate to ask..

*Note these stats are accurate as of 10/19/07 according to the Birmingham MLS. They are subject to change as agents submit listed and sold properties into the MLS.

Hoover Alabama Real Estate Market Statistics September 2006 vs. September 2007: Now and Then

I think it's important as a Real Estate Consultant serving Hoover Alabama Real Estate, as a resident, or a future home buyer or seller in the Hoover Area to know the stats.

With so much media coverage about "the state of the real estate market" being broadcast, I want to start doing a now and then segment to show how the market has changed from one year to the next.

September 2007
Listed Properties (during the month): 184
Average Price: $379,160
Price Range: $139,900-$1,645,000

September 2006
Listed Properties (during the month): 219
Average Price: $369,552
Price Range: $109,000-$1,400,000

September 2007
Sold Properties: 110
Average Price: $405,981
Price Range: $160,000-$1,059,944
Average Days on Market: 80

September 2006
Sold Properties: 125
Average Price: $345,813
Price Range: $155,000-$1,082,500
Average Days on Market: 91

If you would like to be contacted as soon as homes become available in the Hoover area just let me know, or if you would like to see statistics about other areas, don't hesitate to ask.

*Note these stats are accurate as of 10/18/07 according to the Birmingham MLS. They are subject to change as agents submit listed and sold properties into the MLS.

Mountain Brook Alabama Real Estate Market Statistics September 2006 vs. September 2007: Now and Then

I think it's important as a Real Estate Consultant, as a resident, or a future home buyer or seller in the Mountain Brook Area to know the stats.

With so much media coverage about "the state of the real estate market" being broadcast, I want to start doing a now and then segment to show how the market has changed from one year to the next.

September 2007
Listed Properties (during the month): 43
Average Price: $704,740
Price Range: $297,900-$2,100,000

September 2006
Listed Properties (during the month): 47
Average Price: $968,635
Price Range: $282,200-$4,499,000

September 2007
Sold Properties: 22
Average Price: $755,210
Price Range: $225,000-$2,000,979
Average Days on Market: 131

September 2006
Sold Properties: 26
Average Price: $610,242
Price Range: $277,000-$1,885,000
Average Days on Market: 66

If you would like to be contacted as soon as homes become available in the Mountain Brook area just let me know, or if you would like to see statistics about other areas, don't hesitate to ask.

*Note these stats are accurate as of 10/16/07 according to the Birmingham MLS. They are subject to change as agents submit listed and sold properties into the MLS.

Vestavia Alabama Real Estate Market Statistics September 2006 vs. September 2007: Now and Then

I think it's important as a Real Estate Consultant, as a resident, or a future home buyer or seller in the Vestavia Area to know the stats.

With so much media coverage about "the state of the real estate market" being broadcast, I want to start doing a now and then segment to show how the market has changed from one year to the next.

September 2007
Listed Properties (during the month): 58
Average Price: $448,788
Price Range: $149,900-$1,100,000

September 2006
Listed Properties (during the month): 70
Average Price: $505,215
Price Range: $175,000-$2,825,000

September 2007
Sold Properties: 34
Average Price: $486,555
Price Range: $180,000-$1,950,000
Average Days on Market: 78

September 2006
Sold Properties: 52
Average Price: $402,027
Price Range: $129,000-$1,315,000
Average Days on Market: 61

If you would like to be contacted as soon as homes become available in the Vestavia area just let me know, or if you would like to see statistics about other areas, don't hesitate to ask.

To see how much your Vestavia Home may be worth or to search all of the homes for sale in Vestavia and all its communities visit VestaviaHomeSearch.com

Learn more about Vestavia at Vestavia Hills Alabma Real Estate Guide and Community Tour, an earlier post giving a brief history and video of the Vestavia Hills area.

*Note these stats are accurate as of 9/13/07 according to the Birmingham MLS. They are subject to change as agents submit listed and sold properties into the MLS.

Earnest Money: Step 6 of 8 to Buying a Home in Birmingham Alabama

Buying a home can be a daunting task. Because, most people only buy a home once every few years (or longer), we wanted to take the time to remind you of the steps involved in buying a home. This way, you can feel like you have some control of this home buying process.

We have identified eight steps to buying a home. These are:

1. Decide to buy a home.

2. Find a great real estate consultant.

3. Secure financing

4. Find your dream home.

5. Make a written offer and negotiate the price.

6. Open an escrow account. (Earnest Money)

7. Have a home inspection.

8. Sign the final documents, get the key, and move into your new home.

Step 6, Submit Earnest Money a.k.a. Open an escrow account. After an agreed upon sales amount has been found, you will submit earnest money, or open as escrow account. Your real estate agent will be the go between for you on this.

The purpose of this amount of money is intent, or proof, that you really do intend on purchasing the home. It is not a down payment. You down payment will be handled through your mortgage company. The earnest money acts as a "good faith deposit" in the hands of the seller's agent's company.  I have heard that many buyers may offer as high as 5-10% of the selling price of the home. In my own experience, most buyers have submitted from between .5%-2%.

After this has been done, it will be time to have a home inspection...

Homewood Alabama Real Estate Market Statistics September 2007 vs September 2006: Now and Then

I think it's important as a Real Estate Consultant, as a resident, or a future home buyer or seller in the Homewood Area to know the stats.

With so much media coverage about "the state of the real estate market" being broadcast, I want to start doing a now and then segment to show how the market has changed from one year to the next.

September 2007
Listed Properties (during the month): 55
Average Price: $353,233
Price Range: $99,900-$829,900

September 2006
Listed Properties (during the month): 64
Average Price: $329,360
Price Range: $149,900-$829,900

September 2007
Sold Properties: 22
Average Price: $291,381
Price Range: $130,000-$584,000
Average Days on Market: 89

September 2006
Sold Properties: 19
Average Price: $287,360
Price Range: $165,000-$625,000
Average Days on Market: 81

If you would like to be contacted as soon as homes become available in the Homewood area just let me know, or if you would like to see statistics about other areas, don't hesitate to ask.

You can find all the Birmingham Alabama Real Estate stats on Greater Birmingham Real Estate Resources, on Your Guide To Living In Greater Birmingham, or on Birmingham Alabama Real Estate blog via ActiveRain.

*Note these stats are accurate as of 9/13/07 according to the Birmingham MLS. They are subject to change as agents submit listed and sold properties into the MLS.