Tag Archives: Alabama

Groundbreaking set for new $34 million facility at Huntsville campus of Calhoun Community College

Rendering of $34 million facility to be built at Huntsville campus of Calhoun Community College.

Rendering of $34 million facility to be built at Huntsville campus of Calhoun Community College.

Calhoun Community College is ready to break ground on a $34 million facility at its Huntsville campus on Wynn Drive.

Retiring Calhoun President Marilyn Beck has talked about the need to expand the Huntsville campus for several years and the expansion set to take place has been in discussions for more than two years.

The groundbreaking will be Dec. 5 at 11 a.m.

Officials scheduled to attend include Huntsville Mayor Tommy Battle, state Sen. Arthur Orr, R-Decatur, state school board members Charles Elliott and Mary Scott Hunter and Mark Heinrich, chancellor of the Alabama Community College System.

The new Math, Science and Computer Science building is a three-story facility with about 90,000 square feet. The building will be located on the west side of Wynn Drive.

The event will also serve as a farewell for Beck, who announced her retirement in August. It will be effective Dec. 31.

via Groundbreaking set for new $34 million facility at Huntsville campus of Calhoun Community College | AL.com.

Leave a comment

Filed under Madison County "in the news"

“Alabama 3rd quarter home sales highest since 2007″

Click here to view or print the full quarterly report compliments of the Alabama Housing Finance Authority.

Alabama residential sales during the third quarter while sluggish continued to gradually improve, up 3.3 percent compared to the same period a year earlier. This is an improvement over the 2.3 percent growth experienced in the second quarter of the year. Total sales of 12,469 units represent the best third quarter since 2007 (15,051 units). With that said, third quarter sales are still 25.2 percent (was 25.0 percent last quarter) below the quarterly peak established in 2005 when 16,674 units were sold.

Inventory.jpg
View full sizeAlabama housing inventory down .9% from 3rd Quarter 2013. Infograph courtesy of ACRE. All rights reserved.

Supply: The statewide housing inventory average during the third quarter was 33,538 units, a decrease of .9 percent from the same period in 2013 and 17.7 percent below the third quarter peak in 2010 (40,745 units). There was 8.1 months of housing supply (7 months considered equilibrium during 3rd quarter) in the third quarter 2014, the same as last year (3Q). Historical data indicates that the third quarter inventory-to-sales ratio in 2014 decreased 23.6 percent from the 5-year average (10.6 months) and decreased 14.7 percent from the 3-year average.

Demand: Historical data indicates that third quarter sales in 2014 increased by 12.1 percent from the most recent 3-year average (’11-’13) and 18.3 percent from the 5-year quarterly average (’09-’13).

Median Price.jpg
View full sizeAlabama median sales price up 1.8% from 3rd Quarter 2013. Infograph courtesy of ACRE. All rights reserved.

Pricing: The statewide median sales price during the third quarter was $130,284, an increase of 1.8 percent from the same quarter in 2013. Historical data indicates that third quarter median price in 2014 increased by 3.6 percent from the most recent 3-year average and 3.2 percent from the 5-year quarterly average (’09-’13).

The Alabama Residential Quarterly Report is provided compliments of the Alabama Housing Finance Authority.

+++++++++++++++++++++++++++++++++++++++++++

ACRE was founded by legislative act in 1996 due to the efforts of the Alabama Real Estate Commissionthe Alabama Association of REALTORS and the Office of the Dean, UA Culverhouse College of Commerce to serve the State of Alabama real estate industry and the consumers it serves. ACRE is not a state-funded entity, rather its operates in part because of the goodwill & generosity of the ACRE Corporate Cabinet and our statewide ACRE Partners. Follow us @uaacre

Alabama Residential Quarterly Report: “3rd quarter sales highest since 2007″ | AL.com.

Leave a comment

Filed under Real Estate for Everyone

Awesome in MidTowne!

_MG_2446

Enjoy carefree living with direct access to Indian Creek Greenway, literally minutes from work/dining/shopping, resort pool, lakes and a park. Better than new, this gorgeous Harrison plan by Mark Harris features beautiful hand scraped hardwood floors, isolated master suite on the main floor, open floor plan, granite countertops and custom cabinets in the gourmet kitchen and a huge loft with two additional bedrooms up. A large covered veranda and a privacy fenced back yard provide a great space for outdoor events. 6437 Lincoln Park Place

Leave a comment

Filed under Neighborhood Profiles, Real Estate for Everyone

When do leaves change color in Alabama?

-447ef3efab0747de

Get ready for fall foliage, fall color, or whatever you call Nature’s annual splashing of Southern forests in vivid reds, maroons and yellows. Leaves put on their brightest colors from now through early November, and that means it’s time to get outside and ramble.

Experts say it’s shaping up as a pretty colorful year – about the same as the past few years – and the dry September may have helped, not hurt this year’s color. A report from the Citizen Times of Asheville, N.C., quotes a regional expert revising her fall foliage outlook for the mountains upward. She said wet weather like we’ve had this year mutes leaf color, but dry weather like September’s makes color “pop.”

‘Not too shabby’

In Alabama, regional state naturalist Patti Donnellan said simply “not too shabby” as she looked out her window at fall foliage in Lake Guntersville State Park Tuesday afternoon.

Lake Guntersville State Park’s mountaintop lodge is as scenic as fall gets in Alabama, and Donnellan said low ground cover like sumac is already red. Bigger trees like oaks “don’t have too much going on yet,” she said, but they will start changing quickly across north Alabama beginning next week.

If you want great color this week, you’ll have to drive to western Virginia and eastern West Virginia, according to The Foliage Network, a non-profit website that uses volunteer spotters to report on fall foliage across the eastern United States. Those two areas are the only ones reporting high to peak color this week. Farther south, spotters report low color in eastern and middle Tennessee, low color in western North Carolina, and no color in middle North Carolina.

About that weekend trip: If you’re planning one, state tourism websites in Alabama, Georgia and Tennessee are serious about the season. Leaves changing color means big business, and the states will help you find where color is peaking when you’re ready to travel. Alabama’s website has a particularly nice interactive map.  Another hint: If you plan to stay overnight near the woods, a reservation is a good idea. It can get crowded out there this time of year.

Why do they change?

Why do leaves change color? Dr. Leland Cseke, an assistant biology professor at the University of Alabama in Huntsville, says it’s because trees start breaking down their green pigments to store the nitrogen they contain for energy through the winter. The process lets the fall sun light up the other color pigments in the leaves.

How do they know it’s time? Cseke’s specialty is tree nutrient systems, and he said the signal varies for different trees. Some trees sense the changing light as the autumn sun drops lower in the sky. Some trees sense the change in temperature. Some of the process remains mysterious.

That temperature signal to change may be a few days away. The National Weather Service Office in Huntsville is predicting normal or above-above normal temperatures across North Alabama for the next week to 10 days. So, unless something changes, there will no cold snap to get trees moving for at least the next week.

When do leaves change color in Alabama? 2014 expected to yield vibrant fall foliage | AL.com.

Leave a comment

Filed under Explore Madison County

Alabama residential sales in September increase 11%

Click here to view or print the entire September report compliments of the ACRE Corporate Cabinet.

Total Sales.jpgView full sizeAlabama home sales in September improved 11.1 percent compared to last September. YTD sales up 2.4%. September sales are now up 42% from its September bottom in 2010. Infograph courtesy of ACRE. All rights reserved.

Alabama residential sales totaled 3,957 units in September, an increase in sales growth of 11.1 percent from the same period a year earlier and 201 units above of our monthly forecast. September joins June and July as the only months in 2014 where sales have eclipsed last year. Nationally, sales were off 1.7 percent in September from the prior year. See more details of how Alabama compares to the broader US market here.

The YTD Alabama sales forecast through September projected 35,170 closed transactions while the actual sales were 34,169 units, a 2.8 percent cumulative variance. YTD sales through September have been sluggish in most markets across the State but remain 2.4 percent above the 2013. Sales were up 3.3 percent in the third quarter compared to 2013.

Across Alabama, 76 percent of local markets reported positive sales growth compared to last September. In comparison, this figure was 64 in August and 48 percent in July. This figure also remains at 54 percent when taking into account total YTD sales compared to 2013.

Pricing: While the return of more consistent year-over-year sales gains is encouraging news, the lead story in 2014 relates to pricing. The Center shared in earlier reports that pricing represents the primary indicator that still had the greatest upside in the future. At least through September, this has come to fruition as the YTD median sales price is up in 19 of 25 or 76 percent of local markets. While this is good news for the market, as prices increase, sales (the typical lead story) attributable to investors bargain hunting will diminish the ability of this “buyer profile” to push the sales needle in the future. Distressed sales continue to significantly diminish as a percentage of total sales across the US, a trend most market watchers content will continue in the future.

Median Price.jpgView full sizeAlabama median home sales price in September 2014 improved 4.5% from prior year and now up 18% from the month of September price bottom in 2004. Infoigraph courtesy of ACRE. All rights reserved.

The median sales price improved by approximately 4.5 percent over last September and 6.1 percent when comparing the year-to-date (Jan-September) average for a broader perspective. Still, Alabama remains below the nation’s recent pace of appreciation but the Center prefers gradual increases in pricing over spikes seen in many parts of the country (typically in markets hardest hit by the recession). Keep in mind that pricing can fluctuate from month-to-month due to sampling size of data and seasonal buying patterns. The median price decreased 8.7 percent from the prior month. This direction is consistent with historical data (09-13) that reflects that the September median sales price traditionally decrease from the month of August by 2.6 percent.

Supply: The statewide housing inventory in September was 32,992 units, a decrease of 2.5 percent from September 2013 and 22.1 percent below the month of September peak in 2007 (42,329 units). There was 8.3 months of housing supply (7.5 months considered equilibrium during month of September) in September 2014 versus 9.5 months of supply in September 2013, a 12.2 percent favorable decrease. September inventory also decreased by 1.7 percent from the prior month. This direction is consistent with historical data that indicates September inventory on average (09-13) traditionally decreases from the month of August by 5.6 percent.

Demand: As anticipated, September statewide residential sales declined 4.4 percent from the prior month. This direction is consistent with seasonal trends & recent historical data that indicates September sales, on average (09-13), decrease from the month of August by 9.9 percent.

The fact that there are fewer distressed properties (attracting bargain hunting investors – typically cash buyers) changing hands when compared to last year has also narrowed the favorable percentage change associated with sales growth.

Seeking Balance: Ten or 42 percent of local markets are considered near or in balance where buyer and seller enjoy equal bargaining power. More markets are inching closer so this is encouraging news.

In contrast to reports of lack of inventory at the national level, Alabama still has above the needed levels of supply in most local markets (13 of 25 markets or 52 percent still have 10+ months of supply) but the supply of “quality” inventory is limiting sales according to local professionals with boots on the ground.

Industry Perspective: “The September National Housing Survey shows a slight recovery in consumer housing sentiment after a two-month setback, bringing us back to the modestly positive trend we’ve seen over the last year,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “It might be too late to save this year’s home sales from posting the first decline in five years. However, the return to an upward trend in housing sentiment, combined with this month’s positive news on the jobs front, suggests that a broad-based, albeit measured, housing recovery is on track to resume in 2015. The results of the past few months show that consumer optimism remains cautious and somewhat volatile, and we’ll likely continue to see bumps on the housing recovery path reflected in our survey results.” For full report, go HERE.

This monthly report is provided compliments of the ACRE Corporate Cabinet. 

Alabama residential sales in September increase 11%; 76% of local markets experience YOY sales gain | AL.com.

Leave a comment

Filed under Real Estate for Everyone

1,000 new rooftops to rise on Madison’s western horizon

-7a8e9ab88108f850

A thousand new residential rooftops will be popping up in eastern Limestone County, based on recent rezoning proposals to the City Council.

On Monday, the council announced public hearings on rezoning for three separate parcels totaling 176 acres. Combined with the rezoning in July of 158 acres on Huntsville Brownsferry Road, Madison can expect to add more than 1,000 single-family homes, said Mayor Troy Trulock.

“There’s another 600 in the pipeline,” he added.

The 1,000-home estimate will take two to five years to play out completely, the mayor said, so there’s going to be plenty of ongoing construction work in western Madison.

Mungo Homes will likely be the first to break ground should the rezoning requests be approved Sept. 22. It seeks to rezone 58 acres at the northwest corner of Burgreen and Powell roads from agriculture to R-3A single-family detached residential. The 58 acres will be combined with another parcel already zoned residential for a total of about 100 acres.

There’s another 600 in the pipeline.” – Mayor Troy Trulock

The largest of the three rezoning request is from Murphy Homes. It calls for 89 acres on the south side of Hardiman Road and east of Segers Road to be changed from agriculture to R-3A single-family detached residential. The smallest of the three comes from Woodland Homes. It seeks to change 29 acres from agriculture to single-family residential. The property is east Segars Road and across from the entrance to Hardin Oak Drive.

District 4 Councilman Mike Potter, who represents some areas west of County Line Road, said the growth is going to put “tremendous pressure” on Hardiman, Burgreen and Segers roads, and the city must get plans in place so the infrastructure can handle the large amount of traffic. A key part of that will be partnering with the Limestone County Commission, he added.

“Our school system’s got to be concerned, too,” District 1 Councilman Tim Holcombe said.

Potter referenced the new 700-acre Town Madison retail and commercial development as making the expected, rapid growth of new homes easier to bear.

While there’s some tax revenue generated from the construction phase of home building, he said property taxes are not enough to offset the cost of providing city services to them. Without retail taxes on the side, “rooftops translate to negative numbers.”

1,000 new rooftops to rise on Madison’s western horizon; 176 acres sought for rezoning | AL.com.

Leave a comment

Filed under Madison County "in the news"

Home Selling Tips Every Seller Should Know

What home selling tips are the most important for sellers to know? We sought to answer this question when we surveyed 500 real estate agents about the importance of two dozen top home selling tips. Each tip was then ranked based on the survey responses and we used the first eight – those viewed as being “very important” by 80 percent of agents or more – to create this infographic, “Home Selling Tips Every Seller Should Know.”


Home Selling Tips Every Seller Should Know

Leave a comment

Filed under Ideas for Home Sellers