Tag Archives: Homes for Sale

Spring Tour of Homes

Spring 15

Welcome to the Huntsville/Madison County Builders Association’s 29th annual Spring Tour of HomesSM. For those of you who attended for the first time we thank you, and hope to see you again.  For the thousands of you who attend year after year, we also thank you, and hope your experience this year was as good as years past. We are confident it was.

An array of housing types from single-family homes and patio homes to town homes will be featured in the TourSM with prices ranging from $199,900 to $1,250,000.  64 beautiful new homes will be on display throughout the Madison and Limestone County area offering a variety of life styles, floor plans and amenities.

Our local housing market continues to be strong overall. House values continue to increase, thereby, validating the fact that buying a home is the best long term investment you can make for you and your family. And with interest rates at all-time lows, the future of home ownership has never looked better.

Dates/Times for 2015

Saturday – Sunday;  from 1:00 – 5:00 pm

April 18 – 19, 2015

April 25 – 26, 2015

 Cost

There is no charge to view these homes.

 

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New Homes in Downtown Meridianville

Yes…there is a downtown Meridianville. The corner of North Memorial Parkway and Patterson Lane is bustling with new development. Legacy Homes is developing an affordably priced new home community with full brick construction, fully sodded lawns, three car garages and many plans to choose from with prices starting under $200,000. Colonial Pointe is taking shape and now is a great time to pick your plan.

Give me a call or shoot me an email and I’ll be happy to go over the selections and options being offered at Colonial Pointe, Meridianville’s new address.

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This Month in Real Estate April 2015

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North Alabama housing market ‘one of the most stable’ in Southeast

Rob Hale, president of MarketGraphics Southeast, speaks to Huntsville-area realtors and home builders April 2 at the Huntsville Botanical Garden. (Lucy Berry | lberry@al.com)

Rob Hale, president of MarketGraphics Southeast, speaks to Huntsville-area realtors and home builders April 2 at the Huntsville Botanical Garden. (Lucy Berry | lberry@al.com)

Lucy Berry | lberry@al.comBy Lucy Berry | lberry@al.com
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More residents in the Huntsville area are seeking apartment communities with higher-end amenities as the housing market recovers.

That was one of the talking points Thursday during a 2015 north Alabama housing forecast presentation by MarketGraphics Southeast President Rob Hale at the Huntsville Botanical Garden. The annual breakfast event for area realtors and homebuilders was sponsored by BancorpSouth.

Hale said the recession sparked a shift in the number of north Alabama millennials, retirees and move-down buyers interested in new apartment projects.

“The recession started it because people lost their homes,” he said. “They were able to rent, but not buy, and I think that started a trend of new apartment construction and it built on that.”

Nationwide trend

The movement toward apartments isn’t just affecting Huntsville, Hale said, but the entire U.S. He said the developments are especially attractive to the under-30 crowd that’s not as interested in purchasing a new or existing home as past generations were.

Apartments are also a good option for retirees who need smaller housing, but still want luxury, an audience member pointed out.

“There’s the pool, there’s somebody else mowing the grass, there’s really great amenities with these new developments,” Hale said. “It’s attractive to people who at some point might have been first-time homebuyers.”

The local market, which includes Madison, Limestone, Morgan and Marshall counties, is the picture of stability, Hale told the crowd. The four-county area had 2,470 building permits last year, down slightly from 2,501 the previous year and 2,518 in 2011.

Market vibrancy

While north Alabama led the Southeast for several years in market vibrancy (new home permits divided by total population), Hale said that’s no longer the case today. Markets like Jacksonville, Fla., Nashville and Charleston, S.C., are experiencing more vibrant housing markets right now.

Huntsville hasn’t always followed the national trend, he said, and the market doesn’t encounter the same peaks and valleys as other places sometimes do.

“You did not experience the wave of destruction that took place in a lot of places in the Southeast,” he said. “The coastal Florida market was devastated by the recession. This just illustrates how stable the market is in north Alabama.”

The area had 15,000 vacant developed lots in February 2011. Since then, that figure has declined to roughly 11,500. There are 546 homes under construction in the four-county area, Hale said.

With companies like Polaris and Remington Outdoor promising thousands of jobs in Huntsville over the next several years, Hale hopes the local housing market enters a phase when new jobs have a direct link to the construction of new houses.

Jobs equals housing

Hale said the market needs about 1.25 new jobs for every building permit issued in order to sustain healthy housing activity.

“Of all the markets in the Southeast over the years, the Huntsville market has been one of the most stable, even through the recession,” he said. “Our hope is that as new jobs arrive in Huntsville, it will result in an improvement in the new home housing market.”

Hale praised the area’s public leadership in attracting new companies and diversifying the economy. “That’s certainly not true everywhere,” he added.

Penny Billings, division president for BancorpSouth, said her biggest takeaway from Thursday’s event was “location and where you’re building.”

“We have seen some pretty good vibrancy right now in new home sales,” she said. “Some of our builders are reporting that their sales are a lot higher than they’ve been.”

North Alabama housing market ‘one of the most stable’ in Southeast, even through recession | AL.com.

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Alabama new home starts in January rise 13 percent from last year

Alabama Center for Real Estate (ACRE)By Alabama Center for Real Estate (ACRE)
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Click here to view or print the entire monthly report compliments of the ACRE Corporate Cabinet.

Demand: Alabama’s new home sales in January slipped 2 units or .9 percent from the same period last year.

Total New Construction.jpg

Alabama new home sales in January on par with last year while inventory has increased 4% from the same period. Infograph courtesy of ACRE. All rights reserved.Alabama Center for Real Estate (ACRE) 

Supply: Housing starts have increased 13.0 percent since last January. New construction inventory has also increased 4.0 percent since January 2014.Three of five metro areas experienced increases in inventory levels from last January (Birmingham – up 10%, Mobile – up 7% and Tuscaloosa – up 6%).

Alabama’s metro markets in January reflect 8.4 months of new home supply, up 6 percent from last January’s 8.0 months and up 83 percent from 4.6 months in December.

Pricing: Alabama’s metro market’s median new home sales price in January was $235,510, an increase of 2.1 percent from last January and 5.6 percent from last month.

New Home Pipeline: January statewide housing starts increased by 13.0 percent from January 2014 but slipped 2.0 percent from the prior month. 2014 starts were down 2.0 percent. Housing starts were up 7.8 percent in 2013 and 6.5% in 2012. January statewide building permits were up .5 percent from January 2014 but down 5.6 percent from last month. 2014 permits were down .8 percent. Building permits were up 5.6% in 2013 and 8.4 percent in 2012.

Residential Construction Employment: According to the Alabama Dept. of Industrial Relations, statewide residential construction employment in December increased 1.2 percent (800 jobs) to 68,600 from last month and improved 9.2 percent (+5,800 jobs) from the same month a year ago. (Note: January figures are to be released on 3/17/15).

Local Results: 10 out of the 27 home builder associations (37% – down from 56% in Dec) reported gains in building permits from the prior month while 12 associations (44% – up from 33% in Dec) reported gains in housing starts from last month. Twenty associations (74% – up from 33% in Dec) experienced an increase from their January 2013 housing starts.

Industry Perspective: From David Crowe, NAHB chief economist: “The new year either will see the housing sector break out in a traditional, solid recovery or it will see another mundane nudge forward. It doesn’t take a Ph.D. in economics to know that. Unfortunately, any economist with two hands can list forces for both outcomes. But the scale is heavily tipped toward more growth in single-family construction in 2015 than any of the recovery years to date.”

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

View the current monthly Alabama Residential Report here.

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The ACRE New Construction Monthly Report is work product stemming from our partnership with the Home Builder’s Association of Alabama Foundation.

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 ACRE Corporate Cabinet and other statewide ACRE Partners.

For other Alabama real estate resources & news, please visit our website and our ACRE blog.

Alabama new home starts in January rise 13 percent from last year | AL.com.

 

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