Category Archives: Real Estate for Everyone

Now Selling! Applewood by Legacy Homes

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We’re excited, and based on the phone calls you are too, to announce the opening of Applewood.

Located at the corner of Balch and Gillespie in the heart of Madison, this brand new community is one of the most desired new home locations in North Alabama. The excitement was created, in no small part, with the 2012 opening of the most technologically advanced high school campus in Alabama – James Clemens High School.

Applewood features Legacy Homes’ award-winning designs with open EASYLIVING™ floor plans. Luxurious amenities include huge granite kitchen islands, flex rooms, drop zones, private covered patios and more! Applewood offers home sites in a lovely natural setting and includes a pool, cabana, and several premium corner and cul-de-sac lots!

Only 75 home sites will accommodate beautiful full brick homes with raised foundations ranging from 2000sf to 3500sf and prices starting in the $260′s. Natural gas is available and AT&T delivers fiber optic cable right to the front door.

Applewood is just minutes from Highway 72 and County Line Road where you will find numerous dining and shopping options. With the May 2015 opening of the I-565 / County Line Road on-ramp, residents will have extraordinary 70 mph access to Redstone Arsenal, downtown Huntsville or Decatur, and upscale shopping at The Bridge Street Town Centre.

Excellent schools, award-winning designs, gorgeous amenities, and location, location, location…all in Madison at an extraordinary value!

via Now Selling! Applewood! – Legacy Homes.

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Huntsville/Madison County February home sales up 6% from prior month

Huntsville/Madison County area residential sales in February improved 6.1 percent from the prior month. In contrast, sales totaling 333 units, represented a slip in sales growth of 11.4 percent from the same period a year earlier and 16 units shy of ourmonthly forecast.

Click here to view or print the entire January report compliments of the ACRE Corporate Cabinet.
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View full sizeHuntsville/Madison County residential sales up 6% from prior month. Inventory is 6% below February 2011 peak. Infograph provided by ACRE. All rights reserved.

Supply: Huntsville housing inventory totaled 2,880 units, an increase of 68 units from last February. New home inventory is down 2.2 percent year-over-year while existing single family is up 4.1 percent. The inventory-to-sales ratio in February was 8.6 months of housing supply (5.5 months for new construction – down from 6.3 in January). The market equilibrium (balance between supply and demand) is considered to be approximately 8 months during February. Huntsville and Baldwin County were Alabama’s most balanced markets in 2013. February inventory in Huntsville experienced a 2.0 percent (57 units) increase when compared to the prior month. This movement is consistent with historical data trends that indicate February inventory on average (€™09-€™13) increases from the month of January by 1.7 percent.

Demand: Existing single family home sales accounted for 71 percent (up from 64% in Feb’13) of total sales, new homes sales accounted for 25 percent (down from 34% in Feb’13) while condos were 4 percent of sales (up from 2% in Feb’13).

Residential sales in February improved by 6.1 percent from the prior month. Real estate sales volume is seasonal and historical Huntsville data reflects that February sales, on average (€™09-€™13), increase from the month of January by 13.5 percent.

Pricing: The Huntsville median selling price in February was $156,400, a slip of 6.5 percent from February 2013. In contrast, the median price increased by 1.3 percent from last month. Historical data (09-13) indicates that the February median selling price traditionally decreases from the month of January by 2.2 percent. Pricing can fluctuate from month-to-month as the sample size of data (closed transactions) is subject to seasonal buying patterns so a broader lens as to pricing trends is appropriate.

View the current monthly Huntsville Residential Report here.

The Huntsville Residential Monthly Report is work product developed in conjunction with the Huntsville Area Association of REALTORS to better serve North Alabama consumers. The ACRE monthly report is provided to illustrate the “general” market direction & trends when comparing prior periods with the most current available data. Real estate is local and statistics will fluctuate between areas within a city including subdivisions. ACRE recommends that you consult a local real estate professional for “specific” advice associated with your market.

About ACRE. ACRE was founded in 1996 by the Alabama Real Estate Commissionthe Alabama Association of REALTORS and the Office of the Dean, UA Culverhouse College of Commerce. ACRE is not a state-funded entity, rather its operates in part because of the goodwill & generosity of our statewide ACRE Partners.

Alabama real estate resources & news, please visit our website and our ACRE blog. You can also follow ACRE from our facebook page, just “like” http://www.facebook.com/acreua and/or follow on twitter at @uaacre.

Huntsville/Madison County residential sales improve 6% from prior month | AL.com.

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Now Selling! Heritage Brook

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Legacy Homes is proud to announce that Heritage Brook is now selling. Heritage Brook is a unique new home community. It features large treed lots that provide excellent back yard privacy as well as a matured landscape look. Heritage Brook is conveniently located a mile north of Hwy 72 on Old Railroad Bed Road. All homes are brick with HardiePlank, shake and exposed timber accents. Home plans utilize a raised foundation that helps them stand apart from other new construction sites and adds an elegant impression to the neighborhood. Plans range from 1900sf to 3000sf and all feature downstairs masters and spacious open concept designs. With prices starting at $219,900 the first phase should sell quickly.

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Huntsville/Madison County residential sales up 6% in December; 2013 sales up 8%

Huntsville/Madison County residential sales totaled 384 units for the month of December. Residential sales improved 6.1 percent compared to December 2012. For the year, the market experienced sales growth of 8.3 percent over last year.

Click here to read or print the entire report compliments of American Family Dream.

Historical Sales.jpgView full sizeHuntsville/Madison County residential sales up 6% from last December. Inventory is 4% below December 2010 peak. Infograph provided by ACRE. All rights reserved.

Supply: Huntsville housing inventory totaled 2,871 units, an increase of 159 units from last November, led by an increase in new home inventory of 15.6 percent. The inventory-to-sales ratio in December was 7.5 months of housing supply (4.3 months for new construction – up from 6.2 in November), the same figure as last December. The market equilibrium (balance between supply and demand) is considered to be approximately 7-8 months during December. Huntsville and Baldwin County are Alabama’s most balanced markets in 2013. November inventory in Huntsville experienced a 5.2 percent (159 units) decrease when compared to the prior month. Historical data trends indicate December inventory on average (’08-’12) decreased from the month of November by 7.4 percent.

Demand: Existing single family home sales accounted for 65 percent (same as Dec’12) of total sales, new homes sales accounted for 32 percent (down from 33% in Nov’12) while condos were 3 percent of sales (up from 2% in Dec’12).

Residential sales in December increased by 12.0 percent from the prior month. Real estate sales volume is seasonal and historical Huntsville data reflects that December sales, on average (’08-’12), decrease from the month of November by 1.0 percent.

Pricing: The Huntsville median selling price in December was $183,500, a slip of .3 percent from December 2012. In contrast, this figure improved by 14.7 percent from last month. Historical data (’08-’12) indicates that the December median selling price traditionally increase from the month of November by 1.0 percent. Pricing can fluctuate from month-to-month as the sample size of data (closed transactions) is subject to seasonal buying patterns so a broader lens as to pricing trends is appropriate.

Financing Alert – 2014 Qualified Mortgage (QM) rule takes effect on January 10th: “The 2014 QM rule has generated more news, commentary and debate than almost any other mortgage rule in history.” Qualified Mortgage has created a news page to help you keep up with developments in this area.”

View the current monthly Huntsville Residential Report here.

The Huntsville Residential Monthly Report is work product developed in conjunction with the Huntsville Area Association of REALTORS to better serve North Alabama consumers. The ACRE monthly report is provided to illustrate the “general” market direction & trends when comparing prior periods with the most current available data. Real estate is local and statistics will fluctuate between areas within a city including subdivisions. ACRE recommends that you consult a local real estate professional for “specific” advice associated with your market.

About ACRE. ACRE was founded in 1996 by the Alabama Real Estate Commissionthe Alabama Association of REALTORS and the Office of the Dean, UA Culverhouse College of Commerce. ACRE is not a state-funded entity, rather its operates in part because of the goodwill & generosity of our statewide ACRE Partners.

Alabama real estate resources & news, please visit our website and our ACRE blog. You can also follow ACRE from our facebook page, just “like” http://www.facebook.com/acreua and/or follow on twitter at @uaacre.

via Huntsville/Madison County area residential sales up 6% in December; 2013 sales up 8% | AL.com.

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Alabama has nation’s lowest residential tax rates

alabama-welcome-sign1jpg-87d746cf321dc340Newly-released data from a tax policy research center shows that the state of Alabama continues to have some of the least expensive property tax rates in the United States, coming in with the lowest average per-county residential tax rate in a U.S. Census survey.

The Tax Policy Center, using information from the U.S. Census Bureau’s American Community Survey, reports that, on average, residential taxes in Alabama are far below the national average.

According to the report, of 24 counties nationwide with annual property taxes below $250 a year, nearly all were in Alabama with only a few in Louisiana.

The study showed that the area with the highest property tax rate is New York City and northern New Jersey.

The average cost of a tax bill in Westchester County, N.Y.,  just outside of New York City, is $9,647 a year. By contrast, Autauga County in Alabama has an average rate of $123 a year.

According to a CNN Money story, 60 percent of homeowners in the United States pay an average of between $500 and $1,500 a year in tax on their homes.

Click here to see the Money.CNN.com story and an interactive map of the average property tax rate for every county in the United States.

Where does your county rank in property taxes? Alabama has nation’s lowest residential tax rates | AL.com.

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