U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Alabama > Huntsville-Madison-Decatur area
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-04-2008, 11:53 AM
 
86 posts, read 173,891 times
Reputation: 24

Advertisements

Huntsville Times
Rate this post positively Reply With Quote Quick reply to this message

 
Old 12-04-2008, 12:31 PM
 
Location: Las Flores, Orange County, CA
26,343 posts, read 88,102,627 times
Reputation: 17667
Ya, I saw this. Still, I'd bet Hutnsville is in better shape than most other places. Unemployment is around 3.6% or 3.8%. Also, Madison County was considered the best place to ride out this economic downturn:

Affordable places to ride out the downturn - Real estate- msnbc.com

and my home town is in as bad as shape as anyone:

Boeing, Northrop Grumman lose bids to build satellites in Southern California - Los Angeles Times

However, other things might affect Huntsville:

Boeing Warns of Layoffs in 2009

Last edited by Charles; 12-04-2008 at 12:42 PM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-04-2008, 01:30 PM
 
Location: Madison, Alabama
956 posts, read 2,342,767 times
Reputation: 276
I knew this was going to be brought up. My business has exploded in the past 2 weeks. The constant fear from the media finally got to Huntsville, plus we had the election. Listings are getting shown more, buyers are coming out of the woodwork, from local to transferee's all of a sudden. My bet is that the article will be quite different in February! My Realtor friends in Nashville have been crying the blues for a couple of years. Didn't hurt us to cry the blues for a couple of months.

Today, I saw 4.875 for a 30 year fixed conventional and 5% for VA and FHA. Grapevine tells me they will go to 4.5% soon. There is NO better time to buy than now. Sellers are scared to death, thanks to the media. Inventory is up, which means sellers are typically motivated. I think buyers are figuring it is time....Just my opinion
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-04-2008, 02:06 PM
 
2,105 posts, read 6,366,398 times
Reputation: 1527
"There is NO better time to buy than now." LOL. According to real estate agents, it is always the best time to buy! When prices are going up, you better buy because real estate always goes up. When prices go down (wait, I thought real estate only went up), you better buy now because prices have hit bottom.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-04-2008, 02:39 PM
 
Location: Madison, Alabama
956 posts, read 2,342,767 times
Reputation: 276
rnc76 Believe it or not, I agree with you. I too, get tired of people that try to push people into investing, when it is not right for them. I don't typically say "There is NO better time", trust me..I was at the start of the downturn in Nashville. Learned the hard way there! I watched too many sellers and builders loose their backsides. With good reason, we are all skittish now. When all the stars align, it DOES make sense to purchase. In my opinion, they are aligned. I have told my fair share of sellers to wait, trust me....buyers also, for that matter. Now, I think they need to consider purchasing. If a seller does not HAVE to move, this is not the time to list your home, in most areas. Not all! We do still have a few pocket price ranges and areas that are a sellers market. Rates are tremendous, and inventory is up. Huntsville has a better chance than most in the US. I am talking educated facts here. I study the market and know it inside and out. Yes, it can always change on a dime. However, I think we are going to see a definite upturn this spring. Buyers never get the best deals when inventory is low...sellers are in their glory then. I think it will take a couple of years for the market to completely recover, but do feel we are on our way, uphill, slowly but surely
The trouble I have seen in many areas, is buyers not qualifying. That has not been my experience in Huntsville. I have found most buyers to be very well qualified, which helps our market, tremendously.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-04-2008, 02:57 PM
 
262 posts, read 746,062 times
Reputation: 69
We have put off buying a home for the next year because we are waiting to see what President Obama's plan will be for the defense industry. If there are major cut-backs, there will be a glut of homes on the market to sell, and I do not want to be tied to the area if DH has to look for a new job. I realize that that rates are good right now, but it wouldn't matter if you have no job to pay for that mortgage. It's a good time to rent for us.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-04-2008, 03:02 PM
 
Location: Madison, Alabama
956 posts, read 2,342,767 times
Reputation: 276
flstatenolefan You are right! It's whatever folks are comfortable with. Why buy if you will be a nervous wreck...it's not worth it
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-04-2008, 03:07 PM
 
6,754 posts, read 10,386,039 times
Reputation: 6891
Quote:
Originally Posted by isellhuntsville View Post

Today, I saw 4.875 for a 30 year fixed conventional and 5% for VA and FHA. Grapevine tells me they will go to 4.5% soon. There is NO better time to buy than now. Sellers are scared to death, thanks to the media. Inventory is up, which means sellers are typically motivated. I think buyers are figuring it is time....Just my opinion

Any chance this interest rate will happen in the next 2 weeks?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-04-2008, 04:57 PM
 
Location: Madison, Alabama
956 posts, read 2,342,767 times
Reputation: 276
HB2HSV: Sounds possible. Here is the link: Treasury Department Considers Plan to Lower Mortgage Rates - FOXNews.com Transition Tracker (http://www.foxnews.com/politics/2008/12/03/treasury-department-considers-plan-lower-mortgage-rates/ - broken link)
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-04-2008, 06:43 PM
 
190 posts, read 385,327 times
Reputation: 167
Default Finally!!!

I moved to HSV in 2000 and have been renting ever since. Back then, I was new out of college and was working my first NASA contract that was winding down - so I kept renting while home prices were attractive. I missed the HSV bubble on the way up after the BRAC announcement in 2005.

I kept browsing homes in Five Points where I was renting. The flipping in that area was rediculous in '06 and '07 - I'd see houses bought and then sold twice in one year without anyone moving in - with a 20-30% increase in price for new paint and kitchen appliances. By my calculations, it's still cheaper to rent here than buy (whether an apartment or house) so I'll keep renting. Today's news on the HSV market is an encouraging sign though.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Alabama > Huntsville-Madison-Decatur area
Similar Threads
View detailed profiles of:

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top