Posts Tagged ‘alabama homes for sale’

Friday, April 19th, 2013

Several reports came out last month with great news for Birmingham—home sales are looking up!  Sales around the Birmingham area continued to rise in March revealing a 6% increase from this time last year and a 7% increase compared to the first quarter of 2012.

Since February 2012, new home sales have grown 24.8% and 18% year-to-date—outperforming the nation which saw an increase of 12.3% in February 2013 from 2012. Across the state, 60% of all Alabama metro areas saw an increase in new home sales this past February, as compared to a year prior in 2012. New home sales in five of the major metro markets represented almost 70% of all statewide new home sales transactions.

Prices also showed signs of positive changes for the Birmingham real estate market. The average sold price in March was up 10% from last year with a 6.4% increase in the median sold price.

Birmingham’s city offerings have lead to an overall growing population. The tight-knit urban neighborhoods offer lots of shopping and entertainment options within walking distance of themselves. Statewide, new construction inventory is up 6% since last February 2012 and home builders in the state are continually increasing production to match demand. New housing starts were up 7.7% in February 2013, compared to the month prior, and 12.4% since 2012.

The number of residents in downtown Birmingham has increased by 23% over the last decade. Since 2012 even office space has increased and various city improvements have been initiated such as the new stadium for minor league baseball team, Birmingham Barons, as well as the green space by the rail corridor.

Sources: Birmingham Association of Realtors, Alabama Center for Real Estate (ACRE), US Census Bureau

Tags: , , , , , , , , , ,
Posted in Alabama Home Sales, Birmingham New Homes, Birmingham News, Buying A Home, Golf Homes, Housing Market News, New Homes Alabama | Comments Off

Tuesday, April 9th, 2013

For the seventh month in a row, the National Association of Home Builders Index has reported positive improvement for metropolitan areas as identified in its monthly Home Builders/First American Improving Markets Index (IMI) listing.

This past month, Birmingham made the list as one of the 274 metros newly listed in March. The addition of the 200+ metropolitan areas creates a net gain of 15 markets across all 50 states and DC, from the month prior. In February, Birmingham metro area reported a rise 2.8% increase in residential sales and in January it experienced a 10.5% gain in new home sales. This is a 14.3% increase from new home sales in 2012.

“The Birmingham housing market has experienced a steady increase in the number of new homes under construction with decreasing inventory of finished unoccupied homes. These numbers prove that we have reached a stead recover,” said Matt Morrow, Executive Vice President of the Greater Birmingham Association of Home Builders (GBAHB).

NAHB Chief Economist David Crowe reports that “with just over 75% of the 361 metro covered by the IMI now seen as improving, the housing market is on considerably more solid footing than it was at this time last year.”

This listing is published monthly by the NAHB and features metropolitan areas that have shown improvements in economic health. The IMI tracks housing markets in the country, showing improvements in economic health. The index measure three sets of monthly data, gathered independently, to get a mark on the top improving Metropolitan Statistical Areas.

For more information, visit: nahb.org/imi

Tags: , , , , , , , , , , , ,
Posted in Alabama Home Sales, Birmingham New Homes, Birmingham News, Buying A Home, Financial News, Housing Market News, Mortgage/Financing News, New Homes Alabama | Comments Off

Wednesday, April 3rd, 2013

Tax season is officially over! To share our excitement with you, we’ve compiled some information on how to prepare for next year’s tax season—after all, it’s never too early to start the planning process.

If you’re selling a home, in order to purchase your new home at Ross Bridge, you can add the price of materials and labor—used for home improvements such as plumbing, wiring or a new roof—to the basis of your home, thus reducing the tax owed on the sale of your home.

Don’t forget about the best tax deduction of all! If you just purchased a wonderful new home here at Ross Bridge, you can deduct your real estate taxes, qualifying mortgage interest, and any mortgage interest premiums.

When you purchased your new home, chance are you are paying some type of Private Mortgage Insurance, if your down payment was less than 20%. As long as your mortgage originated after January 1, 2007, your PMI can be deducted from your tax return, assuming of course that you have a PMI.

If you paid mortgage points on your home purchase or home refinance, those points may be eligible for deduction on your tax return too. These points are generally referred to as origination fees and are charged by the lender to originate the loan. The points are often a percentage-based fee and can usually be deducted in their entirety when paid the same year.

Love working at your desk in your pajamas? If your primary office is your home, you might be able to deduct your home office. It should be calculated as a percentage of your mortgage, utilities and repair bills in proportion to your office space in your home.

For more information, check out Realtor.com and the IRS website for specifics. (IRS LINK: http://www.irs.gov/pub/irs-pdf/p530.pdf)

Tags: , , , , , , , , , , ,
Posted in Alabama Home Sales, Birmingham New Homes, Buying A Home, Financial News, Housing Market News, Mortgage/Financing News, New Homes Alabama | Comments Off

Monday, March 25th, 2013

We firmly believe that we at Ross Bridge are here to make your life better—whether it’s an element of relaxation that you seek or the simple sense of community. Did you know that your Ross Bridge golf resort community is the perfect location to experience the full bloom of spring?

The new season is all about renewal and rebirth, life and growth. To help ensure you kick off spring the proper way, we’ve prepared a list of ways that our beautiful Birmingham new homes community ensures you fully delight in the joys of the new season.

It starts with renewal

Schedule a session of pampering at our luxury resort spa. Nothing says renewal and relaxation like an afternoon spent with one of our spa treatments or in one of our relaxation lounges and steam rooms. To really prepare for the warm weather, we recommend adding in a refreshing facial, body exfoliation or pedicure.

Embrace the green

What better way to embrace the joys of the new warm weather season then with a round of golf! Get outside and fully rejoice in the blooming buds and spring green trees that make our Robert Trent Jones Golf Trail golf course the ideal place to practice your swing.

Get moving

If you made a pack this New Years to get healthy, then get moving! Take your run from the treadmill to the trails. Looking for something with a little less impact? Embrace our nature trails with a brisk stroll or power walk and breath in the fresh air for a rejuvenating experience that’s sure to keep you on the right course for a healthy and happy 2013.

 

Tags: , , , , , , , ,
Posted in Alabama Home Sales, Birmingham New Homes, Buying A Home, Golf Homes, New Homes Alabama | Comments Off

Friday, March 22nd, 2013

The Alabama Center for Real Estate (ACRE) released its monthly findings this week for residential sales in the state of Alabama, further displaying positive signs of growth for our region. All five major metro areas, including Birmingham, represent 70 percent of Alabama’s positive year-over-year growth rates.

Compared to last February 2012, residential sales this past month improved by 12.6 percent overall in Alabama, outperforming the overall US market which rose 10.2 percent. This growth affirms that a healthy recovery is underway in the housing market, specifically in Alabama.

According to the National Association of REALTORS, February sales were at their highest level since the tax credit period of November 2009. The Alabama metro market has risen 11 percent YTD over last year and statewide residential sales are up 16.4 percent from January with the median selling price for homes rising 8.4 percent from last February.

“Across the nation, most local housing markets have room for sustainable growth, particularly in home construction and sales. As the broader economy heals, expect to see more good news with home prices continuing their recent upward trend, and home sales and housing starts continuing to post strong growth rates,” said Freddie Mac vice president & chief economist, Frank Nothalt.

Sales in the South and West both performed positively in February, compared to February 2012, but all four regions of the US reveal overall annual growth compared to last year. Specifically in the southern regions, sales rose 14.9 percent from February 2012. Of those sales, 22 percent were comprised of nationwide investors, 32 percent represented all-cash sales and 30 percent were made up of first-time home buyers. The average days on market decreased by 5.5 percent in February.

“Job growth in the improving economy and pent-up demand are causing both home sales and rental leasing to rise. Though home prices are rising much faster than rents, historically low mortgage rates are still making home purchases affordable,” said Lawrence Yun, NAR chief economist. “The only headwinds are limited housing inventory, which varies greatly around the country, and credit conditions that remain too restrictive.”

The Alabama Residential Monthly Report is developed in conjunction with the Alabama Association of REALTORS and local associations. For additional information visit, acre.cba.ua.edu.

Tags: , , , , , , , , , ,
Posted in Alabama Home Sales, Birmingham New Homes, Buying A Home, Housing Market News, New Homes Alabama | Comments Off

Thursday, January 31st, 2013

The Alabama Real Estate Confidence Index (ARECI) measures the sentiment of real estate professionals and industry affiliates across Alabama on a scale of 0-100, with 50 indicating no change expected.

According to the ARECI, sentiment toward the housing market improved for the real estate community in two important measures- sales indications and price expectations.  The index showed that sales indications improved from 52 to 55 (expansion) and price expectation improved to 50 (neutral sentiment) for the first time in the three years that the survey has been conducted.  The results also showed that participants maintained positive sentiment on the statewide conditions at 53 (same as last quarter).  Inventory expectations declined to 49 from 52 indicating some increases of supply expected.

Coming out of 2012, it must be encouraging for home buyers seeking new homes for sale to see that the real estate community still holds an optimistic outlook toward the 2013 housing market.  Across the state of Alabama, 76% of local hosting market shave shown improvement in 2012 and the Birmingham metro area housing market has specifically had a 16.5% increase in new home sales compared to 2011.  With home prices rising, home values appreciating, and home sales increasing, all indications point toward another positive year for the Alabama housing market.

To read more on this topic, visit the Alabama Real Estate Confidence Index (ARECI)

Tags: , , , , , ,
Posted in Alabama Home Sales, Birmingham New Homes, Buying A Home, Housing Market News, New Homes Alabama | Comments Off

Thursday, August 16th, 2012

 

More metropolitan areas, such as Birmingham, AL,  are showing a rise in single-family home prices, according to the latest quarterly report put out by the National Association of Realtors (NAR).  This is continued good news for those searching for  Birmingham homes for sale, as increasing home prices show signs of a growing housing market and lead to higher home values.  With record low mortgage rates, more and more prospective home buyers looking at new homes for sale in Birmingham are taking advantage of the current market and are deciding to purchase now.

The median existing single-family home price increased in 110 out of 147 metro statistical areas (MSAs), which was based on closings during the second quarter in comparison with the same quarter of last year.  The first quarter of 2012 showed 74 metro areas to have home price increases in a year-over-year comparison.  In the second quarter of 2011 there were only 41 metro areas that showed price gains.

NAR President, Moe Veissi, said that prospective homebuyers in 2012 have a historically high amount of buying power. “Home buyers today can stay well within their means.  Record low mortgage interest rates and an over-correction in home prices have opened the door to many potential buyers,” said Veissi.

Existing-home sales in the South rose 1.3% in the second quarter of 2012 and are 7.7% above the existing-home sales during the second quarter of 2011.  The median existing single-family home price in the South increased 7.4%  in the second quarter from the previous year.

NAR chief economist, Lawrence Yun, remarked that it is encouraging to see more and more metro areas with rising median home prices, and that this increase is, ”improving the equity position of existing homeowners.”  Yun went on to say that home prices are predicted to rise in even more markets across the country during upcoming quarters.

 

Tags: , , ,
Posted in Alabama Home Sales, Birmingham News, New Homes Alabama | Comments Off

Wednesday, April 25th, 2012

 

For the first time in six months, Alabama's home prices have seen an increase when compared to the previous year. This March Alabama's median price rose to $118,280, which is over a 6% jump over March 2011 and nearly a 10% increase from this February. Historically, according to the Alabama Center for Real Estate, March sees only a 1.4% bump over February every year.

September 2011 was actually Alabama's last year-over-year increase in the medium home price, and it was only a mere .6% over September 2010.

Over the past couple of years the home price statistics had been somewhat skewed by both increasing foreclosures as well as federal tax incentives. Since the real estate market has been improving in 2012, foreclosure have declined somewhat and prices are stabilizing. This has also been the first year in a while where comparative data has not been effected by government sponsored tax programs.

For more information on the homes for sale at Ross Bridge, contact us here today!

Tags: ,
Posted in Alabama Home Sales | Comments Off

Monday, July 25th, 2011

As reported by Dawn Kent this week from the Birmingham News, home sales were up in June when compared to May across alabama. The sales totaled 3,766 last month, which is a steep 12% increase from May's sales. What's most interesting about this figure is that the last 5 years have shown the average increase from May to June to be only about  3-4%.

Dawn's report noted that on top of the increase in monthly sales, the average prices also rose to $147,546 in June.  Overall most of Alabama's major areas showed improvements, including Birmingham which had more than a 14% gain in home sales when compared to May. This obviously comes as welcomed news for those shopping for new homes for sale in Hoover and Birmingham.

 

Click here to read Dawn Kent's full article on AL.com

Tags: , ,
Posted in Alabama Home Sales | Comments Off