Posts Tagged ‘birmingham al homes’
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: alabama homes for sale, alabama real estate market, birmingham al homes, birmingham al homes for sale, birmingham new home community, birmingham real estate, golf resort community, homes for sale birmingham, new golf home communities, new golf homes for sale, new homes for sale Birmingham
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: alabama homes, alabama homes for sale, alabama real estate market, birmingham al homes, birmingham al homes for sale, birmingham area home sales, birmingham new home community, birmingham real estate, birmingham real estate market, golf resort community, homes for sale birmingham, new golf home communities, new golf homes for sale
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: alabama homes for sale, alabama property tax, alabama real estate market, birmingham al homes, birmingham homes for sale, birmingham property tax, birmingham real estate, golf resort community, homes for sale birmingham, new golf homes for sale, new home communities, new homes for sale
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: alabama homes, alabama homes for sale, birmingham al homes, birmingham new home community, Birmingham new homes community, golf homes for sale al, golf resort community, new golf home community, new homes for sale
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: alabama homes for sale, birmingham al homes, birmingham al homes for sale, birmingham new home community, birmingham real estate market, golf resort community, homes for sale birmingham, new golf home communities, new golf homes for sale, new home communities, new homes for sale birmingham al
Posted in Alabama Home Sales, Birmingham New Homes, Buying A Home, Housing Market News, New Homes Alabama | Comments Off
Monday, February 18th, 2013
The year 2012 revealed the best performance for home sales in the Birmingham metro area since 2008 with a 10% increase in sales over last year.
The trend continues this year with January home sales beating out January 2012 by a significant margin of 15%, another great indicator that the market in Birmingham is continuing the steady uphill growth observed this past year.
The performance of new home sales in the state received a promising boost in 2012 as Alabama new home sales were up 7.2% over 2011 according to data found by the Alabama Center for Real Estate (ACRE). Out of all the metro areas in the state of Alabama, 80% saw an increase in new home sales in 2012 compared to the sales in 2011.
Alabama new homebuilders continue to increase production to keep up with steadily rising demands of new homebuyers. The ACRE states that the new construction inventory is up by 7.3% in the state from last December.
Another promising sign of new home growth is the 19.3% increase in Alabama building permits from December 2011 to December 2012. Permits overall were up 8.4% in 2012 over 2011 which indicates the confidence builders have in the continued demand of new homes for sale in Alabama.
The entire metro area is seeing increased sales with the strongest markets being in the southern region including Hoover, Alabama homes. The state of Alabama saw a 6% increase in home sales in 2012 over 2011 and the Nation as a whole is predicted to see an 8% increase in home sales.
Out of the 25 local housing markets in the State 18 were reported to have year-over-year sales growths for 2012, which is great news for both consumers and the real estate community in Alabama as demand and value continue to rise. The home inventory for this past December has seen an 8% decrease from a year ago indicating an increase in demand.
After seeing a steady drop in home prices since 2006, when the average price of a home in the Birmingham real estate market was almost at the $200,000 mark, the market is now seeing a steady increase. The average price of a Birmingham home for sale in 2012 was up to $181,797.00. With metrics pointing toward steady growth, many experts are optimistic about the coming year.
Tags: birmingham al homes, birmingham home sales, birmingham new home community, birmingham new homes for sale, golf resort community, hoover al homes for sale, new golf home communities, new golf homes for sale, new home sales birmingham, new homes for sale alabama
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: alabama homes for sale, alabama real estate market, birmingham al homes, birmingham homes for sale, birmingham new home community, new homes for sale, new homes for sale Birmingham
Posted in Alabama Home Sales, Birmingham New Homes, Buying A Home, Housing Market News, New Homes Alabama | Comments Off
Wednesday, December 19th, 2012
Recent data has shown that home prices are increasing and according to the latest reports, they are expected to keep ascending into 2013. There are many industry experts who attribute certain factors, such as a rising demand for new homes for sale, dwindling inventory levels, and an increase in home sales, to be the contributors to the current uptick in home prices. Fairly steady housing market trends that have been observed over the course of the year, have led to widespread expectations of continued increases in home prices come 2013.
An article posted online last week by the Wall Street Journal, reports that analysts from J.P. Morgan Chase & Co. predict U.S. home prices to rise next year by 3.4%, according to their ‘base-case’ calculations. In their most cogent scenario of economic growth, J.P. Morgan analysts also expect that home prices could surge to 9.7% in 2013. Standard & Poor’s, which rates private issue mortgage bonds, said that it foresees a 5% home price rise in 2013.
2012 has already shown a substantial rise in home prices. In a year-over-year comparison conducted by CoreLogic, October 2012 showed U.S. home prices to have gone up by 6.3% nationwide, which was the largest gain seen since the spring of 2006.
This year also represents the first time since 2006 that the ‘net demand’ for housing exceeded two million homes, said a strategist at the investment bank, John Sim. Once past the two million territory, you are in the positive growth area, unless there is a lot of distressed inventory, which, in 2012 reached a low point, said Sim. J.P. Morgan predicts the net demand to increase 2.7 million in 2013 from 2.3 million seen in 2012.
With mortgage rates maintaining record lows, there is an elevated sense of urgency among home buyers who have been searching for new homes for sale, since in past years, have found themselves just sitting on the fence waiting out the storm. Now, more prospective home buyers are choosing to take advantage of favorable market conditions and buy new homes in beautiful new golf home communities, like Ross Bridge, while current conditions last and before these anticipated price jumps occur.
Tags: birmingham al homes, birmingham new home community, birmingham new homes for sale, golf resort community, new golf home communities, new homes alabama, new homes for sale, new homes for sale Birmingham
Posted in Alabama Home Sales, Birmingham New Homes, Buying A Home, Golf Homes, 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: alabama homes for sale, birmingham al homes, birmingham area home sales, new homes for sale Birmingham
Posted in Alabama Home Sales, Birmingham News, New Homes Alabama | Comments Off
Tuesday, April 10th, 2012
According to the Birmingham Business Journal and the Birmingham Association of Realtors, Birmingham's home sales rose to 2,222 during the first 3 months of 2012 when compared to the same quarter of 2011. During Q1 2011, home sales in Birmingham totaled just 1,931, which translates to a 15% increase in 2012 over 2011.
Home buyers have been active this year in Birmingham, particularly in the last third of the quarter where home sales rose 6% in March alone.
To read more on Birmigham's home sales from the Birmingham Association of Realtors and the Birmingham Business Journal, visit the latest post on bizjournals.com here!
Tags: birmingham al homes, birmingham home sales, birmingham homes for sale
Posted in Birmingham New Homes | Comments Off
