The Birmingham News reported last week that forecasts from local real estate analysts expect Birmingham's home sales to rise over 7% in 2012. This comes on the heels of other positive real estate news as the National Association of Realtors also reported that nationwide home sales have increased for the 3rd straight month.
Tom Brander, the local real estate analyst who made these initial forecasts, did note that a 7% increase would be a considerable jump over the 2% increase from 2010 to 2011. One factor, he mentions, for the rise in 2012 should be the increased availability of new homes. Builders slowed their projects during 2010 and 2011, but as the foreclosure inventory eventually shrank the basics of supply and demand kicked in. Nearing the end of 2011 builders started taking on more projects again as demand steadily increased. As builders continue with new units the disappearing foreclosure market should help boost both sales and prices, making for a very interesting year.
Tags: birmingham al homes
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December marks the third straight month of positive home sales growth nationwide.
According to the National Association of Realtors, nationwide home sales for the year are up nearly 2%, while December alone saw a 5% bump over November. December 2011 also had a 3.6% increase over December 2010. Current mortgage rates,home prices, and a growing job market have finally tempted potential buyers into taking action before the opportunity is missed.
Other signs of the improving market are inventory and homebuilder traffic. Builders have reported more customer traffic and project contracts in the last few months. Available inventory is quickly shrinking as well, down to 2005 levels, which drives up demand and pricing for many communities.
Needless to say, realtors and builders are very excited over the outlook for the 2012 real estate market.
For more information on the new homes for sale at Ross Bridge, contact our friendly sales team today.
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The online business publication, Kiplinger, recently has named Birmingham Alabama to its short list of the nation's great retirement cities!. The site listed one of Birmingham's biggest draws as being the "big city living with a Deep South discount."
With income-tax exemptions for social security benefits, military pensions, and other qualified pensions, Birmingham certainly is friendly for those drawing on their retirement plans. The article also mentions that the state's taxes per capita beat the national average by $700, and on top of that older homeowners are not required to pay property tax. The financial benefits for retirees are undeniable.
Warm weather, great golf courses, and a lot of that Southern Charm have also helped solidify Birmingham as a fantastic city to retire.
To read more about Birmingham and to view the entire list, visit the Kiplinger article here!
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Check out our new interactive site map and stop in to the Welcome Center to learn all about our newest Neighborhood at Ross Bridge – North Hampton!
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The Birmingham Association of Realtors reported late last week that residential sales totaled 803 in this past October, a significant 43% increase over October 2010. Inventory continues to shrink as well, down to 8,778 in October, a big improvement over the 10,422 units available during the same time last year.
Foreclosure sales still make up a large portion of the data, however this marks the 3rd straight month of increasing sales for the region.
At Ross Bridge we have plenty of new homes for sale, all set within our gorgeous and amenity-packed community. Contact us today to speak with our friendly team about the homes available at Ross Bridge!
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The Alabama Center for Real Estate (ACRE) at the University of Alabama released a report on residential sales data in the Birmingham area, comparing 2010 YTD to 2011. Although area sales arent yet back to their 2006 peaks, activity has grown and data has improved considerably in the last year.
Through September this year residential sales have risen to 905, an incredible 25% improvement over the same period last year. Birmingham also lead the major metro markets in average home price, increasing over 2% YTD to $173,541.
Finally, the report showed that the Days on Market (DOM) have continued to improve in Birmingham month to month as well, dropping 4.5% down to 105 days from August 2011 to September.
To read more about the report click here, and to speak to our team about our Birmingham homes for sale contact us here!
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Earlier this week Golf Digest magazine ranked Ross Bridge to its list of 75 of the Best North American Golf Resorts. Over 1,000 panelists picked the Renaissance Ross Bridge Golf Resort & Spa to join the exclusive list alongside of names like Ritz-Carlton, Four Seasons and Pebble Beach.
As one of Alabama’s hottest selling new homes communities, Ross Bridge and its residents are honored to be part of such a prestigious list. The four-diamond resort and golf course, which is part of the famed Robert Trent Jones trail, is a perfect complement to the gorgeous community and a popular amenity. The 8,191 yard course draws golf lovers from around the world while the resort’s European spa exceeds the highest standards in luxury.
Click here to read more about Golf Digest’s list and the reasons why Ross Bridge was selected. To speak with our friendly team to about the beautiful new homes for sale at Ross Bridge, contact us here!
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As reported this week by the Birmingham Association of Realtors, Birmingham's home sales are up 25% in September 2011 compared to the same month last year. Throughout the region sales in Jefferson, St Clair, Blount, and Shelby counties rose from 723 sales in September 2010 to 905 sales this past month. The report also mentioned that Birmingham's inventory of homes has dropped 13%, down to 9212, this September, further enforcing the market improvement.
Over the last few months the strengthening rental market in Alabama has attracted several new investors. This is good news to the real estate market as a whole since vacant homes that are converted into rental units help decrease available inventory… crucial to balancing supply and demand while improving the value of the remaining homes. In short, the booming rental market in the Birmingham area may help spur even stronger months for the rest of real estate over the coming year.
Tags: birmingham homes, birmingham real estate market, homes for sale birmingham
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Birmingham has been named one of the nation's 100 Best Communities for Young People by the America's Promise Alliance.
The competition recognizes communities across the country that focus on reducing high school dropout rates and providing service and support to their youth. This is the second time Birmingham has been recognized on the list.
City leaders said efforts by the Mayor's Office Division of Youth Services and other initiatives helped Birmingham make the list.
-"Birmingham named one of top communities for young people", Birmingham Business Journal, October 12, 2011 www.bizjournals.com/birmingham
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Shoppers for new homes in the Birmingham area received some interesting financial news this week…even lower interest rates! The recent changes from the Federal Reserve have now resulted in even lower mortgage rates, making this market quite favorable for home buyers. The average rate on a 30-year mortgage went from 4.01% down to 3.94% in the last week due to the Fed's buying and selling of its short-term vs long-term securities.
Even before this week's drop, rates have been near historic lows for months in an attempt to boost sales of previously occupied homes. The Fed's shuffling of securities has also helped drop the rate of a 15-year fixed loan to 3.26%. By dropping the rate on the 15-year fixed, not only do new homes for sale look more attractive, but so does the option to refinance and existing mortgage.
The lowered rates help not only to boost home sales and refinances, but the money saved on mortgage payments inevitably gets pumped back into the economy. The economic benefit to the situation is two-pronged, and has makes for the best time yet for home buyers to be looking for new homes for sale in the Birmingham AL area.
Tags: birmingham al homes, new homes for sale
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