Huntsville housing market better than most (Providence: foreclosure, crime, loans)

[HB2HSV]

Originally Posted by Elizabeth_G

HB2HSV: They even took the tires off for ya This one was "bring your own door". Sigma-3? Must we? ((giggle))

Thanks Elizabeth. Do the weeds come with it?

[Elizabeth_G]

HB2HSV: Absolutely the weeds come with it! I could probably get a yard service thrown in for you as well...the local goat would be happy to help!

[ionlife]

Elizabeth: how can November be a good month? I get that the 400K and up are not selling. Easy to know. But I don't see a lot of new homebuyers here even in the lower price point. In fact, one realtor I know said if November tracks the rest of the year the realtors are in trouble. Course, weeding that field of over 2300 realtors may not be a bad idea. Let the cream, real professionals, rise to the top. I went to one open house at Parade of Homes where the realtor was an electrician and something else too. Crazy.

[tammie2]

Originally Posted by ionlife

I went to one open house at Parade of Homes where the realtor was an electrician and something else too. Crazy.

Really? You had never seen this before? I guess you have been a big city dweller your whole life That is very common in smaller communities, and the first thing I thought of when I saw the number of realtors in this area.

[Elizabeth_G]

Originally Posted by ionlife

Elizabeth: how can November be a good month? I get that the 400K and up are not selling. Easy to know. But I don't see a lot of new homebuyers here even in the lower price point. In fact, one realtor I know said if November tracks the rest of the year the realtors are in trouble. Course, weeding that field of over 2300 realtors may not be a bad idea. Let the cream, real professionals, rise to the top. I went to one open house at Parade of Homes where the realtor was an electrician and something else too. Crazy.

I'm guessing that the final push of first time homebuyers will make November a good month. I know I"ve been running crazy with final contracts, etc. September and October were VERY busy getting these buyers under contract in time for the credit. Now, it's being extended, but we weren't certain at the time. (it still isn't final but I think it will be).

Overall, the starter range is fairly strong.

The market will separate the "men from the boys" for sure when it's renewal time

[ionlife]

Tammie2-nice idea to think that my point is based on only living in larger metros. But my point was that this realtor, in a small town, had links to a builder who had an iffy rep, he himself is not focused just on selling houses, and I question the person re: conflict of interest. If I have a realtor, let it be HIS/HER profession, not a sideline to make a few extra bucks.

And that's great re: the starter range of house prices, E G., but that won't pay all 2300 realtors' bills, unless it is, as I figure for a large percentage, a second or in the case of the realtor I mentioned, a third income.

And this just in as well for those of you selling houses:

A new mortgage lending requirement is starting to surface that could seriously affect new home purchases and resales. The attached April 09 HOA Network Newsletter carries this concern. The Alabama Concerned Homeowners Alliance (ACHA) is receiving reports of lenders that are requiring disclosure of administrative, legal, and fiscal conditions that could jeopardize THEIR lending investment. Lenders want to insure that homeowners are not buying into unknown debt or conditions that might result in future loan default. Requests from lenders will no doubt increase. If requests for disclosure are not addressed swiftly and honesty, sales could be jeopardized.

[Charles]

The two homes at the very end of this view (Google Maps street view didn't go all the way down) just sold, one in summer for over $800K (I think 6000+ sqft) and another one right next door a couple weeks ago, not sure what it sold for. Longshadow Way in 35763. I'd love to find out what it sold for and it's square footage. It has a pool.

35763 - Google Maps

[Elizabeth_G]

Charles, It must be 3112 Longshadow. It is under contract but has not closed yet. Remind me to check in a couple of weeks and I'll let you know what it sold for
If this is the correct home, it has 4500 square feet, on the market for 589,000. It has a salt water pool in the back. Nice!

[Elizabeth_G]

ionlife: Agree, 100%. Why anyone would want to work with a part time agent baffles me as well.

It's about time the lenders wise up and start protecting their investments. FINALLY! I do expect some change to come our way as far as disclosure is concerned. I'm all for it. I relocated here from Nashville and I still can't believe any state would still practice "buyer beware". Shocking, especially in an area rich with Engineers that NEED and DEMAND information and facts. (My husband is one of them) Granted, just because a seller fills out a form saying there are no issues does not guarantee their statements. However, being required to sign your name to a document does make most think twice about not disclosing.

I went to the meeting in Madison with the HOA Network. I think the ACHA will fight for change, much needed change.

Remember the $2,000,000 home in Clifts Cove? It's under contract. I closed a construction contract last night for a new custom in Clifts Cove. Also, I believe you were in on the Providence discussion as well. 2 have gone under contract there in the last week as well. It's really not as bad as many say it is here. Many of us are very very busy.

It's GREAT to be a buyer here right now...seller, not so much, depending on the price range. There have been some amazing deals all over the board. Looks like next year we'll have the foreclosures coming on board, but I'm thinking we have hit the bottom and will crawl out slowly. Educated guess...but still a mere guess.

[ionlife]

What did the 2million house close at? I didn't like the layout at all... very weird rooms. Also, which ones sold in Providence? and what did they close at? the price points were way too high for the houses attained.

In NoVA house sales were listed in the paper... we knew exactly what was selling and where for what price every week. Too bad this state/area doesn't disclose that info/