Your Guide to Living In Greater Birmingham

Mortgage Rates Hit Two Year Low!

With all of the mass media scares about the motgage market, I thought it would be good to see some good news.

According to an article from the Baltimore Sun and Realtor Magazine Online, Mortgage Rates Drop to Two-Year Lows.

According to the article, for the week ending November 29, rates fell to 6.1% on a 30 year fixed mortgage. Also, a 15 year fixed mortgage fell to 5.73% according to Freddie Mac.

Frank Nothaft, the Freddie Mac chief economist, stated that, "...the decline in mortgage rates to worries about an economic downturn tied to the weak housing and credit markets, which has pushed down interest rates on U.S. Treasuries."

We just wanted to share some good news.... It is still a good time to buy a home!

Homewood Market Statistics November 2006 vs November 2007

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. Also, 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.

November 2007
Listed Properties (during the month): 42
Average Price: $333,456 (Median Price: $254,900)
Price Range: $145,000-$839,900

November 2006
Listed Properties (during the month): 69
Average Price: $417,821 (Median Price: $330,000)
Price Range: $157,000-$995,000

November 2007
Sold Properties: 26
Average Price: $314,993 (Median Price: $242,500)
Price Range: $149,000-$790,000
Average Days on Market: 106

November 2006
Sold Properties: 24
Average Price: $312,793  (Median Price: $291,750)
Price Range: $50,000-$795,000
Average Days on Market: 83

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.

*Note these stats are accurate as of 12/19/07 according to the Birmingham MLS. They are subject to change as agents submit listed and sold properties into the MLS.

Homebuyer Holiday Secrets

It's the holidays! Such a beautiful time of year. Cool breezes, snow (rarely here in Birmingham), leaves falling, Christmas trees with glowing lights, maybe the crackling of a warm fire in a fireplace adorned with stockings. There may even be the bustle of children making smore's by it.

I found something out today as I was reading an article today, A Little Holiday Secret. Buyer's love looking at home this time of year!

Why? They love to see these warm and inviting homes. It warms their little hearts... as my granny would say.

There's a problem though... many agents are taking this time of year off, and are not available to show these beautiful homes.

We are still working here. There are people looking to sell homes, buyers looking to buy them, and there is so much joy to be found working with people who just have that holiday spirit. 

For some help preparing your home...

HGTV gives some Holiday Decorating Tips.

DIY tells you how to Decorate for the Holidays.

I also wanted to include some video helps as well.

and here is another option....

Hoover Alabama Awarded

The LivCom Awards have been given and Hoover Alabama has been awarded internationally!

What are the LivCom Awards?

Taken from their site..."The LivCom Awards were launched in 1997 and are endorsed by the United Nations Environment Programme. LivCom is the world’s only Awards Competition focusing on Best Practice regarding the management of the local environment. The objective of LivCom is to improve the quality of life of individual citizens through the creation of ‘livable communities’." To learn more about it, you can visit their site, LivCom Awards

What awards did Hoover Alabama win?

First, let me note that awards is plural. Hoover Alabama did not just win one award in their international process, it won two. Hoover competed against other cities internationally with populations of 20,001 to 75,000. First, it won the silver award in the whole city competition for being a "livable community." Second, for environmentally sensitive practices, Hoover won the bronze award.

Hoover Mayor Tony Petelos noted that, "I think it was our parks system, our school system and without question what we're doing with alternative fuels because we are a leader not only in Alabama but throughout the country in alternative fuels..."

For more information on these awards you can see the article Alabama City Hoover Gets Community, Environment Awards in International Competitionfrom al.com.

Here are two more reasons why Hoover Alabama is a great place to live!

Twelve Reasons to List Now During the Holidays!

  A lot people do not realize that the Winter season and holidays can actually be a good time to sell your home. While patience is required because the numbers of "shoppers" (notice I didn't say buyers) is down, there are some good reasons why you might want to go ahead and make the move. In honor of the 12 Days of Christmas, we found the 12 Reasons to List Now During the Holidays.

1. There is less competition for buyers.

2. Winter prospects are more serious buyers.   

3. Your home looks better during the holidays.                                       

4. One of the highest percentages of “Listings Sold” occur during this time of the year.   

5. You  may receive more money for your home now—because you have less competition.

6. Throughout the holiday season, you may restrict showings during your personal family events.   

7. Buyers have more time to look at homes during the holidays, especially during vacations.

8. January is traditionally the biggest transfer month—and you must be one the market to capture that.   

9. By selling now you can have a delayed closing or extended occupancy until the beginning of the following year if you want.

10. When you sell during the winter, you have an opportunity to buy during the Spring, when many homes are on the market.   

11. You may have fewer actual showings, but more qualified and motivated prospects.

12. Corporate transferees, who need to buy a home now, can’t wait until Spring.   

Take some time as well to enjoy the song...

 

 

 

 

   

Do You Understand?

It might be asked, is this another post on the importance of communication? Well, yes, this is another communication post. I found another illustration worth watching.

I thought about communication for a little while and decided to do some research on some communication tips. I found this exert from a blog entry by Richard Denny, 10 great tips for better communication

"Professor Stephen Hawking of Cambridge University recently stated - in a TV commercial, incidentally - that ‘the world's problems could be solved if we kept talking'. This idea can be applied to almost any situation.

1. Speak to people
2. Smile at people
3. Address people by name
4. Be warm, friendly and helpful
5. Be enthusiastic about life
6. Be genuinely interested in people
7. Look for the opportunity to give praise
8. Be considerate of other people's feelings
9. Be thoughtful and respectful of other people's opinions
10. Be a great listener "

I also found an interesting website where you could take a quiz on how well you communicate. I found it to pretty good as well as insightful. I learned a few things about myself when I took it.

Birmingham Area Real Estate Market is Healthy

What is really happening in the Birmingham Real Estate Market? Is it as bad as we hear on TV every night? I am submitting to you that, NO! it is not.

   

I recently came upon a report done by our local MLS which shows the trends of the Birmingham Area Market since 1994. In other words, it has context to go along with the data.

      

I have recreated here a chart with the given data to show what is really happening in our local market.

 

                                                                                                                                                                                                    

Year	Homes Sold	Avg. Sales Price
1994	8,459	$122,419
1995	8,486	$125,766
1996	9,245	$133,689
1997	9,325	$139,672
1998	10,204	$147,801
1999	10,771	$150,007
2000	10,333	$151,167
2001	10,694	$159,030
2002	11,723	$161,428
2003	13,715	$166,091
2004	15,048	$180,433
2005	16,715	$192,706
2006	18,482	$198,127
2007	15,122*	$199,300*

 

   

* Indicates data through October of 2007

      

Let me note that it appears as though sales are way down this year, but we are anticipating 17,500 homes being sold for the year based on current trends.

   

As you can see from the chart this would bring our second best year ever, and if the sales price remains the same it would be the highest sales price ever. Now, for all those disgruntled home sellers out there, I know you may not be seeing this directly right now, but also note that this increase is the smallest once on the chart, so you may not be seeing it correlate with the increased cost of living.

So what does this mean for home sellers and home buyers out there? For home buyers, you can still get a home at a great price. For home sellers, homes are selling in the Birmingham Real Estate Market! We promise they are, due to the almost 40% increase in inventory you may not be seeing it as fast as the past sold. Average days on market is up this year.

   

The Birmingham Alabama Real Estate Market is still doing well, and this is just another reason why it is a good place to be.

What's Getting In The Way?

I was reading a post today by Brett Noel letting us know How Oprah , Britany Spears, and Greys Anatomy helps your business grow . The answer is, they don't.

It got me thinking, about our dreams, our motivations, our whys. Do you have any? What are you doing to achieve them.

I was reminded of something someone told me to do once to check to see if you are keeping your dreams and goals in the right priority. Write down your dream in BIG BOLD PRINT on a sheet of paper and tape it to your TV. Are your dreams and goals in the way of TV? or Is your TV in the way of your dreams and goals? There is a reason it is called a Lazy-Boy and not an Ambitious-Boy, right?

So, I did a search on achieving your goals and came upon this list from Susan Heathfield,  on how to accomplish your goals called Achieve Your Dreams: Six Steps to Accomplish Your Goals.

She lists some good points such as...

1."You need to deeply desire the goal or resolution. "

2. "Visualize yourself achieving the goal."

3. "Make a plan for the path you need to follow to accomplish the goal."

4. "Commit to achieving the goal by writing down the goal."

5. "Establish times for checking your progress in your calendar system",

6. "Review your overall progress regularly."

There are a lot of different plans and programs out there for help in goal setting and achieving your dreams. I think the important thing for us to do is start, AND it only starts with YOU!

Have A Conversation!

It is not uncommon for me to meet someone and have them say to me, "I am just not a people person."

They then go on to tell me how they don't see how we do what we do always meeting new people and spending hours in the car with them.

Personally, I have to admit it is not always easy, but I understand it all about relationships and I really enjoy meeting new friends.

I was reading an article today on RealSimple which gave some tips on how to get those conversations started, and I thought it might help some of us when we get to that point where we just don't know what to say.

Some of the tips they gave were:

"Have you traveled anywhere recently?"

"What are you working on?"

"What are you doing for the holidays?"

To see the entire list go to Useful Conversation Starters

You can also go to Conversation Starters which gives conversation starters by subject and topic.

Can you imagine how different your personal environment would be if you were always ready to have a conversation?

Mountain Brook Real Estate Market Statistics

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

November 2007
Newly Listed Properties during November: 27
Average Price: $813,870 (Median Price: $649,900)
Price Range: $319,900-$3,499,000

November 2007
Sold Properties: 22
Average Price: $643,075 (Median Price: $502,000)
Price Range:  $225,000-$2,102,000
Average Days on Market: 61

Currently Active as of 12/5/07
Active: 168
Average Price: $876,467 (Median Price: $599,387)

Price  Range: $240,000-$4,499,000

Average Days on Market: 119

  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 12/5/07 according to the Birmingham MLS. They are subject to change as agents submit listed and sold properties into the MLS.