360 Birmingham

RSS Feed Homepage

11% Gain in March for Alabama Home Sales!
2008-04-24 13:24:00
The Birmingham Business Journal published the following story that is finally great reporting on what is a pretty strong real estate market. Statewide home sales shot up nearly 11 percent in March , but still lagged nearly 27 percent over the same month last year. The Alabama Center for Real Estate reported that a total of 3,951 homes sold last month, compared to 3,563 in February and 5,405 in March of last year. Year-to-date, 10,489 homes have sold in Alabama, compared to 13,066 in the same three-month period of 2007. In March, the average home price was $154,900, down a fraction of a percent from $155,342 in February and $158,442 in March 2007. The average number of days a home sat on the market in March was 136, up from 124 days in February and 127 last year. The center also reported that in March a total of 42,850 homes were listed for sale, slightly down from 42,984 the previous month and up nearly 10 percent from 39,045 in the same month last year. The current supply of ...
More About: Sales , Home

Turning the Titanic
2008-04-23 17:31:00
Even though the Birmingham real estate market is not as volatile as other markets across the country we are going to feel the effects of the national scene. However, when you look for positive signs of a turn-around, you look no farther than this great city we live in! Now, even local media still like to start you off on the wrong foot with headlines of a big drop in home sales. Hello.... we know that home sales are down, they should be!!! This is not news anymore. Getting past the headlines we look for signs of improvement. The median price increased which is okay, but inventory and days on market are really the keys to the latest real estate numbers report. Inventory is down over last year and days on market is down a little from last year as well. That is telling me that Supply is down and Demand is up!! Basic economics tells you that price is the third ingredient and should move up if this trend continues. Price improvement on real estate in this country is what we need and ...
More About: Titanic

March 2008 Broker Report on the Birmingham Real Estate Market
2008-04-20 22:31:00
These statistics compare total residential sales for March 2008 vs. March 2007 as well as Year-to-Date statistics as compiled by the Birmingham Area Multiple Listing Service, Inc. of the Birmingham Association of Realtors®.  NOTE:  Days on Market have been adjusted in this report*.  New construction has been excluded in order to get a more accurate reading on average DOM. MARCH Statistics: 2008 Total Sales: 1162  2007 Total Sales:  1647 Difference of 485 sales or a 29% decline 2008 Average Price: $195,950 2007 Average Price: $193,800 Difference represents a 1% increase 2008 Median Price: $159,900 2007 Median Price: $158,000 Difference represents a 1% increase 2008 Average Days on Market: 104* 2007 Average Days on Market: 111 RESIDENTIAL INVENTORY IN MLS: YEAR/MONTH:    TOTALS FOR SALE: 2008: March             12,121 February         1...
More About: Estate , Real Estate , Real Estate Market , Report

Open Houses in Inverness and Meadow Brook - Sunday, 3/6
2008-04-03 23:45:00
2 Open Houses on Sunday , 3/6/08! 3424 Charingwood Ln - Inverness Applecross - Open 1-3 PM.  Visit 3424CharingwoodLn.MegaAgentRealEstate.com for more details about this home. 3504 Meadow Brook Cir - Meadow Brook - Open 3:30 - 5:30 PM.  Visit 3504MeadowBrook.MegaAgentRealEstate.com for more details about this home. Feel free to call us with any questions regarding these homes.  You can browse all of the homes currently for sale in the Birmingham area using our Map-Based Home Search!

February Broker Report on Birmingham Real Estate Market
2008-03-20 18:50:00
BROKER REPORT on February 2008 HOME SALES Some good news with the bad…home sales continued to be slow in February compared to one year ago and the average sales price dropped.  However, days on market improved to 90 days compared to 113 in February a year ago.  More good signs…the median price increased compared with last February and the inventory backlog is the lowest since March 2007.  With interest rates at historic lows; and with so many houses to choose from in all price ranges; the message we want to share is… NOW is a great time to buy a home!   Buyers need to get off the fence and become homeowners. Here’s a look at the national residential real estate picture: Across the nation the volume of existing-home sales is expected to hold steady through late spring, with a gradual recovery during the second half of the year as the mortgage situation improves in high-cost areas, according to Lawrence Yun, NAR chief economist.  “...
More About: Estate , Real Estate , Real Estate Market , Market , Report

Insight on Buying a Home in Today's Real Estate Market
2008-03-16 17:35:00
GETTING GOING By JONATHAN CLEMENTS Wall St. Journal Playing the Housing Slump: Is It Time to Make Your Move? March 12, 2008; Page D1 Financial lore says you should buy when there's blood in the street -- which suggests real estate is a bargain, because there's blood all over the neighborhood. Time to invest? I wouldn't be surprised to see home prices drop sharply this spring, as long-suffering sellers in hard-hit areas throw in the towel and slash their asking price. That could spell opportunity for this year's buyers. But what if you already own a home -- and have no desire to become a landlord? Here are three ways to play today's battered housing market. Trading up. If you're hankering after a larger home or a house in a better neighborhood, this could be your chance to trade up on the cheap. To be sure, when you go to sell your current home, you will likely get a modest price. Since 2006's second quarter, real estate has fallen 10.2%, as measured by the S&P...
More About: Buying , Estate , Real Estate , Real Estate Market , Market

Experienced Home Buyers Say "Smart Time To Buy"
2008-02-23 22:00:00
In a recent article, RISMedia reported that a majority of experienced home buyers, those who have purchased at least one home, think that now is a great time to buy.  With low interest rates and depressed home values, it seems to make sense that you can get some good deals and not break the bank with interest.  The survey found that 70% of experienced home buyers think that now is a great time to buy.  This rings especially true with those buyers who don't have a house to sell before they buy.  It may be hard to swallow the sale of a home that has not appreciated and many homeowners may have much of their money tied up in their current house if they puchased at the top of the housing boom.  For those who are currently renting or thinking of buying, the timing may be right. For the full article from RISMedia, click here. To run the numbers on Renting vs. Buying, try the Rent vs. Buy Calculator. Thanks and feel free to let us know your thoughts! Mark Carl...
More About: Home Buyers , Time , Home , Smart , Buyers

5 Feng Shui Concepts to Help a Home Sell
2008-02-04 03:07:00
To put the best face on a listing and appeal to buyers who follow feng shui principles, keep these tips in mind. 1. Pay special attention to the front door, which is considered the “mouth of chi” (chi is the “life force” of all things) and one of the most powerful aspects of the entire property. Abundance, blessings, opportunities, and good fortune enter through the front door. It’s also the first impression buyers have of how well the sellers have taken care of the rest of the property. Make sure the area around the front door is swept clean, free of cobwebs and clutter. Make sure all lighting is straight and properly hung. Better yet, light the path leading up to the front door to create an inviting atmosphere. 2. Chi energy can be flushed away wherever there are drains in the home. To keep the good forces of a home in, always keep the toilet seats down and close the doors to bathrooms. 3. The master bed should be in a place of honor, power, and protection, which is f...
More About: Home , Concepts , Feng Shui , Sell

Construction Begins on Bass Pro Shop in Leeds
2008-01-27 19:24:00
On January 24, 2008, officials from Leeds , Moody, & St. Clair County joined Representatives from Bass Pro Shop s for the groundbreaking ceremony that marks the offical kickoff of construction on the 148,000 square foot store. The store should be finished by November 2008. Actual land development on the store began about 3 months ago on the property that is located between U.S. 78 and Rex Lake Road. We can only hope that the store is matches the public's high expectations.
More About: Construction

Fed cuts rate again
2008-01-23 21:57:00
What does this mean???..... Basically, the Fed has stepped in and made the biggest rate cut since December of 1991. This cut is made to the fed funds rate, which is now at 3.5%. This has the biggest impact on Home Equity Lines which are tied to Prime Rate , which in turn drops to 6.5%. This also has impact on other consumer loans such as credit cards. How does it effect long term mortgage rates?... In general, the market(Wall Street) has already priced in these movements by the Fed before they announce it. However, in this case the market is reading into this and thinking that there is more bad news to come for the economy. That will help long term mortgage rates and probably drive them down farther. The long term trend is for rates to continue down, but they are very low right now. Here at MortgageBanc, we are seeing 30 year rates at 5.125% and 15 year rates at 4.75%. IT may be a good time refinance, but make sure it makes sense financially!!
More About: Cuts

Top Fishing Towns In America
2008-01-22 21:43:00
Their consensus was that Glenwood Springs, where the Roaring Fork and Colorado Rivers merge, is the best place in the U.S. for an angler to live. Guntersville, Alabama and its extremely popular, Lake Guntersville, which is about an hour or so outside of Birmingham, Alabama also made the list. Bass Pro Shops, which is building a new store in Leeds, Alabama will surely like to see a local town make this list! Field & Stream says: "You'd be hard-pressed to find a better combination of gold-medal water, blue-sky climate, and stunning canyon-scapes anywhere in the world." The towns that they rated all have fewer than 100,000 residents. Factors the anglers were asked to consider include cost of living, things to do, and, of course, the fishing action. The top 10 best fishing towns according to Field & Stream were: Glenwood Springs, Colo. Mountain Home, Ark. Traverse City, Mich. Bozeman, Mont. Minocqua, Wis. Apalachicola, Fla. Nantucket, Mass. Bend, Ore. Guntersville, Ala. Morehead ...
More About: America , Fishing , Towns

January 2008 Events in Birmingham, AL
2008-01-22 05:51:00
Looking for something to do in Birmingham during January ???  Here are some of Mark's picks for the rest of the month! The Machine: Performing the Music of Pink Floyd - January 23, 8 PM - The Machine is America's premier live Pink Floyd experience for all of those Pink Floyd junkies who remember the "good old days" or for those who want to experience some of the good old days that us 30- and 40-somethings had!  These guys can do Pink Floyd like nobody else while they also work in some sweet jams of their own along the way.  They'll be at WorkPlay.  Tickets are $15 prior, $18 day of show.  380-4082 or www.workplay.com The Bill Frisell Trio - January 23, 9:30 PM - World famous jazz guitarist Bill Frisell will be at Bottletree this week with a couple of other great musicians, Kenny Wollesen on percussion and tony Scherr on bass.  Bill has a unique style that is as recognizable as any great jazz performer of the 20th century.  He deftly b...
More About: Events , January 2008 , 2008

The Future of Home Technology - Today!
2008-01-09 21:03:00
Twenty years ago, the idea of hanging TV's on the wall or using computers to control house functions were only thought of in futuristic movies.  With the rapid advances in technology, these are becoming more and more commonplace in the homes of today.  Now we are getting a glance at the next wave of Technology for the home in the collaborativer effort from Tech magazine, Wired, green developer LivingHome s modernist architect Ray Kappe.  To find out more about the home and the techology and green developing techniques used in the home, read the article at CNN.com.  Pretty cool stuff for the future of homes!  Hopefully, we'll begin seeing some of this technology used in Birmingham Homes in the near future!
More About: Future , Today , The Future

Mortgage money made easy...."I think"!
2008-01-08 23:24:00
Mortgage Rates right now are near a four year low. This has been a result of recent Fed cuts and worse than expected economic news. Typically, bad economic news will be favorable for mortgage rates. The Fed cuts prime rate and overnight lending rates which are not directly related to mortgage rates but they do affect the markets which cause mortgage rates to move. So, to keep it simple, good news equals higher rates and bad news equals lower rates.  Today, rates for a 30 year fixed mortgage are around 5.5%. Having said that, it will definitely depend on your situation and your financial needs. But, it is a great time to be looking at options. We are coming off of a 6 or 7 day stretch where rates have been creaping lower so I would expect them to move up a little in the next couple of days. But we are in an overall downtrend so that should get 2008 off to a great start for the real estate market. Happy New Year!    
More About: Money , Mortgage , Made , Easy

Senior Living Facility Approved Next to Greystone
2008-01-08 16:01:00
In a move that has to frustrate Daniel Corporation, the developer of Greystone, the Hoover City Council approved St. Vincent Health Systems rezoning application that will now allow them to build a 208 unit senior living facility on the campus of One Nineteen Health and Wellness facility. This facility should not affect the homeowners in Greystone or surrounding neighborhoods. The main reason Daniel Corporation is raising objections to this senior living facility is that they are planning on a Senior Living Facility of their own in the Inverness area.

A Little Perspective On The Birmingham Alabama Real Estate Market
2007-12-28 17:38:00
We all need to remind ourselves everyday that real estate markets are local in nature and a national or even regional analysis of real estate statistics is meaningless to evaluating a local real estate market such as Birmingham, Alabama . The Birmingham News coverage has been very lazy and continues to do very little in depth reporting on the local market and when it does quote local statistics it does not get qualified professionals to quantify those numbers and put them into perspective so that buyers and sellers in Greater Birmingham can make an informed decision when buying and selling their home. So here is a true analysis of the current Birmingham real estate market. November home sales in 2007 were down 20% from the same reporting period one year ago (November 2006). What caused this significant drop? Some November 2007 closings were put under contract in September when the subprime mortgage situation was at its peak and lenders were tightening their standards. Many potential...
More About: Estate , Real Estate , Real Estate Market , Market

9 Steps to Geeting Your Home Sold Fast & For Top Dollar
2007-12-07 00:00:00
The real estate market in Birmingham, Alabama is still very active, contrary to the Birmingham News' coverage. I have found that the homes that are selling and get to closing have some similarities that, upon analysis are very interesting. These similarities all relate to how the Sellers' themselves handled the sale from the time that they first thought about listing their home to the time that they were receiving their check at the closing table. If you, as a Seller, can turn  these similarities into a system of steps you will have an unbelieveable chance of Selling your home quickly and for top dollar. The 9 Steps that make up your new selling system are as follows: KNOW WHY YOU ARE SELLING, AND KEEP IT TO YOURSELF! The reasons behind your decision to sell affect everything from setting a price to deciding how much time and money to invest in getting your home ready for sale. What's more important to you: the money you walk away with, the length of time your property is ...
More About: Dollar , Home , Fast , Sold

The Story Behind Vestavia Hill's Sibyl Temple......
2007-12-06 04:14:00
The Sibyl Temp le Foundation has released a detailed history of the symbol of Vestavia Hills, Alabama. Many of us have passed the replica of the roman temple that looks out over Homewood and sits high above Highway 31 on the Brookwood Mall side of Vestavia. The following came from Sibyl Temple Foundation's website: Sibyl temple, on the crest of Shades Mountain, is a replica of the Temple of Sibyl in Rome, Italy. Built in the 1920's as a garden gazebo, it is the last remaining structure from the estate of George Ward, former Mayor of the City of Birmingham, 1905-1909 and 1913-1914. The Mayor's estate was located on what is now the site of Vestavia Hills Baptist Church on Shades Crest Road. The 20-acre estate held a commanding view of shades valley and was known for its marvelous gardens, which were unrivaled for their beauty. Ward's home was a large circular structure built as a replica of the temple of the goddess "Vesta" in Tivoli, Italy near Rome. Vesta was the goddess of he...
More About: Story , The Story

Test Your Real Estate Knowledge.......
2007-12-05 04:43:00
Real Estate Trivia Q What two streets near the Los Angeles Beverly Center were named for a famous husband and wife comedy team? A George Burns Drive and Gracie Allen Way Q What is the most common street name in the US? A Second Street ranks as the most common street name. First Street is not #1 because many "First" streets are called "Main" Street. Q Which islands are considered the largest islands in the US? A The Hawaiian Islands with 10,456 square miles are followed by Kodiak Island in Alaska at 9,510 square miles. Q What house is considered to be the first house with running water in America? A John Headly's home built in Newport, RI in 1723, was equipped with an underground pipe from the nearby spring. Q What high-profile rental property rents for $13,500 a month although the star hasn't lived there for over 20 years? A Shirley MacLaine's name is still used to promote her Encino, CA, estate even though she hasn't lived there in years. Q What...
More About: Real Estate , Knowledge , Real , Test

Birmingham Listings Can Sell Quick If Priced To This Market
2007-12-03 01:33:00
Our team has listed and sold 2 homes during the month of November 2007. Both Sell ers understood that when we priced their homes, we were pricing the home to the current real estate market. Both were sold at full price by the Mega Agent Real Estate Team and in a market where the average listing is on the market for 109 days, it stands out that both listing were on the market less than 1 week and closed within the month. Sellers have got to make sure that their agents take a detailed look at the market and see that their home is priced in the top 20% of comparable properties, in relation to price, AND in the top 20% of comparable properties, in relation to condition of their home.
More About: Market , Listings , Quick , Birmingham

100 Fastest Growing Suburbs by Forbes Magazine
2007-12-03 01:15:00
For a city like Birmingham, Alabama that has seen its growth in the suburbs, it is slightly suprising that not even Hoover, Alabama made Forbes Magazine 's, "America's Fastest Growing Suburbs" list. Out of 100 cities not one was from the State of Alabama. Georgia saw 6 cities make the list. Click here to read the Forbes story and see the list of America's 100 Fastest Growing Suburbs.
More About: Forbes Magazine

Major Development Headed to Leeds Adjacent to the New Bass Pro Shop and Bar
2007-12-01 06:13:00
Continued good news for Leeds , Alabama as Daniel Corporation announced that it will build "Grand River" which will include 940 homes and an outlet mall all adjacent to the new and much anticipated Bass Pro Shop and Barber Motor Sports Park. In an article in the Birmingham News, Patrick Hickerson reported that groundbreaking should begin on the the outlet mall in early 2008 followed by the 940 house which make up the first phase of the development. The total cost of the project is almost $135 million dollars and the developers plan to make a planned effort to create an environmentally friendly development. The developers are looking to Audubon International and the Cahaba River Society to advise on the environmental aspects of the project. In a sign of a progressive city government (which Birmingham Mayor Larry Langford should take notice) the City of Leeds will contribute nearly 40 million dollars for roads and utilities. It sure is nice seeing a city pick itself up by its Bootstr...
More About: Development , Major

Birmingham News Buries National Home Price Increase in the Middle of Articl
2007-12-01 05:33:00
In the November 30, 2007 edition of The Birmingham News , the Money Section editors ran a wire story entitled "Home Price s Decline .4%" and once again let what appears to be a national wire story bury the most relevant information deep into the article. It would have been nice if the article had been title National Home Prices Increase!". I say this because, as is mentioned in the article, home prices dipped .4% nationwide from July 2007 - September 2007 from the previous quarter (April 2007 - June 2007). This being said the more important fact is that home prices actually rose 1.8% from 1 year prior. These statistics are basically on par with the Birmingham, Alabama real estate market and are just as important to the home owners in Birmingham. I guess some occasional good real estate news doesn't make good newspaper headlines!
More About: Middle

Mountain Brook & Luxury Home Market in Birmingham Selling Again!
2007-11-29 04:42:00
It looks as if the Luxury Home market in Greater Birmingham, Alabama is starting to be an active part of the real estate market again. We have noticed more million dollar plus homes selling again. This has been the case in Atlanta for about 6 months now. Of course there is still a large inventory of luxury homes on the market but more are actually being listed and sold. Last month was the third month that we have seen Mountain Brook (with an average sales price of mid $500's) inventory stay flat instead of falling (from an inventory perspective). It was the only municipality in Greater Birmingham not to have a continued increase in number of homes in inventory and decrease of average sales price. I find the news that the luxury homes are selling again to be a welcome relief to the market in Birmingham because I believe that the good news will trickle down to the rest of market over the coming months!
More About: Selling , Market

Realogy Corp. to Start Better Homes & Garden Branded Real Estate Compan
2007-11-24 23:14:00
Chris Bubny's "Realty Blogging" blog has reported that there is a new real estate franchise that will operate under the popular Magazine name "Better Homes and Garden s." Realogy who bought the name licensing rights from Better Homes and Gardens already operates some big name real estate brokerages. Some of Realogy's current brokerages include CENTURY 21, Coldwell Banker, Coldwell Banker Commercial, The Corcoran Group, ERA, Sotheby's International Realty, NRT Incorporated, Cartus and Title Resource Group. Birmingham, Alabama does not need any more franchises to enter the market as we are finding more consolidation in real estate brokerage community. Click Here to See Chris Bubny's story.
More About: Estate , Real Estate , Start

Bass Pro Shop in Leeds Construction Started
2007-11-24 03:48:00
Bass Pro Shop s has broken ground on its 340,000 square foot store in Leeds , Alabama (a suburb of Birmingham, Alabama). This store should be a great start in revitalizing both commercial and residential real estate in the Leeds community. In the recent past business and residents have left  the Leeds area. The location on Interstate 20 at Exit 140 is perfect as it will reach not only the residents of Birmingham, Alabama but also the many out of state travellers that travel one of Alabama's busiest roadways. The Bass Pro Shop that opened in Prattville, Alabama has been wildly successful and we can only hope that the same results happen here, as that area of town could use a good commercial boost!
More About: Construction , Bass