Rates Heading Down This Year?
The recent decline of the stock market may be an early indicator of what is coming for the remainder of the year. If the correlation between the NAHB’s Housing Market Index and the S&P 500 Index holds true, we may see substantial decreases in home mortgage rates in the coming months, and well into the second half of this year. For borrower’s who are still in adjustable rate mortgages (ARMs), this is welcomed news and a great opportunity to move to a long-term fixed rate product.
Huntsville Alabama Real Estate;
First Time homebuyers.
Huntsville Alabama Real EstateHuntsville Alabama Real Estate / Client / Realtor Loyalty in Real Estate; March 5th, 2007 8:11 PM Client / Realtor Loyalty in Real Estate; Home shopping has changed in recent years, largely due to information being readily available to homebuyers via the internet Sometimes home shoppers are not as loyal to realtors they have been in years past. Often homebuyers will call the agent on the sign or end up with the first person they talk to when they begin their home search. Some buyers call several agents and have them all search listings and show them homes.This track is counterproductive for the homebuyer and could end up causing them to make expensive mistakes. Building a relationship of mutual trust and loyalty is key to any successful relationship and the relationship between a realtor and their client is no exception.The homebuyer needs effective and experienced representation. Opening doors for showings is not the main function of a realtor. We can prevent homebuyers from making costly mistakes and guide them all they way from selection of a property and well past the closing. Philip Winburnwww.huntsvillerealty.net Posted by Phillip Winburn on March 5th, 2007 8:11 PMComments (0) Huntsville Alabama Real Estate; First Time Homebuyers. March 3rd, 2007 11:32 PM Huntsville Alabama Real Estate; First Time Homebuyers. One of our most rewarding roles is helping first time homebuyers. Yes it is sometimes a lot more work than working with clients who have Purchased and sold several pieces of Real Estate. The homes that first time buyers are generally entry-level homes that are modestly priced so our commissions are quite modest as well. The reward is in helping first them homebuyers, teaching them the steps to home ownership and helping to protect them from costly mistakes. Seeing them and their families when they own their own home is almost as big a thrill for us as it is for the buyers. Often we work with single mothers and it is great to see then starting to enjoy having a place of their own. The will begin to enjoy leveraged appreciation and see deductions on their tax return building wealth over time. Yes it’s fun to close a huge expensive home and deposit a LARGE commission check but it’s fulfilling to help someone and impact their future and that of their family Philip Winburn Posted by Phillip Winburn on March 3rd, 2007 11:32 PMComments (0) |
One of our most rewarding roles is helping first time homebuyers. Yes it is sometimes a lot more work than working with clients who have Purchased and sold several pieces of Real Estate. The homes that first time buyers are generally entry-level homes that are modestly priced so our commissions are quite modest as well.
The reward is in helping first them homebuyers, teaching them the steps to home ownership and helping to protect them from costly mistakes.
Seeing them and their families when they own their own home is almost as big a thrill for us as it is for the buyers. Often we work with single mothers and it is great to see then starting to enjoy having a place of their own.
The will begin to enjoy leveraged appreciation and see deductions on their tax return building wealth over time.
Yes it’s fun to close a huge expensive home and deposit a LARGE commission check but it’s fulfilling to help someone and impact their future and that of their family
Philip Winburn
Huntsville Alabama is a thriving area with strong economic growth and predictions of continued growth for the foreseeable future. Housing prices are still quite low as compared to most cities and the tax rates are some of the lowest in the nation. The local real estate market has been booming for the past three years and we anticipate the trend to continue. We are recommending caution and careful selection of properties and location for both our homeowner and investor clients. Some areas are appreciating much more than others and there area areas with potential negative factors such as traffic. For more information or to search our local MLS go to www.HuntsvilleRealty.net Philip Winburn
Alabama Housing Statistics Reporting Form
North Alabama Multiple Listing System, Inc. (NALMLS)
| Board: HUNTSVILLE AREA ASSOCIATION OF REALTORS | Month: February, 2007 |
| Number of Houses Sold This Month418 |
Average Selling Price This Month$188,926 |
These statistics should represent residential sales of houses, condos and townhomes in your board area.
Many investors looking to purchase into the Huntsville Alabama Real Estate market are looking for multifamily properties. Investors considering the immediate return on their investment are seeking to find properties that will yield an immediate cash flow as well as provide leveraged appreciation.
It is getting harder to locate multifamily properties that are suitable for investors looking for an immediate cash flow. Property values have increased dramatically over the past two years and a moderate increase in interest rates have added to the difficulty of making properties cash flow.
From time to time there is an attractive property on the market but they usually sell within just a few days on market. Investors must temper their competitive instincts not to miss prospective properties at the expense of proper due diligence.
Properties must be careful selected on location and income and expense records of the seller closely reviewed. Many properties are listed with pro forma or anticipated values stated for income and expense rater than actual values. The listings often do not indicate that the data is projected and not actual.
Another common mistake is not having a professional home inspection of each unit. I have seen investors purchase properties based on software calculations using assumed income and expense data. The property looks great on paper but when water heaters and heating and cooling units start to fail and when roofs and defective plumbing start to leak and damage the property, those attractive calculations and graphs loose relevancy to the real world.
My advice to investor clients is to use patience and be prepared to move quickly when an attractive property becomes available. All offers should be contingent upon inspection and confirmation of income and expenses.
Seller should be prepared to furnish his rent roll, leases and actual expenses.
While most sellers and realtors are honest and forthright, one must verify all data, especially in purchasing multi family properties.
As an alternative to multifamily properties we often present single-family properties to our investor clients. There is a greater supply of single-family properties, they are more liquid should an investor need to sell them and appreciation rates are usually greater than multi family units.
The lower potential for the properties to cash flow can be offset by financing other than a fixed rate 30 year loan. We have several investors who have interest only loans. Their properties cash flow at the onset and they enjoy the appreciation of the property from a leveraged position.
We receive regular inquires from investors looking for multifamily properties in the area but there is a very limited number of properties available. There is competition for those properties that are available and that competition can lead to unsound decisions that become costly mistakes.
Philip Winburn
http://www.HuntsvilelRealty.net
The Huntsville Alabama real estate market is starting to heat up again. While sales were steady during the past quarter, they were not at the break-neck level of last spring and summer. We are starting to see increased activity in the market and are gearing up for the anticipated pace though bring in both new office staff and realtors to help wit the demand.
To search the local MLS with having to register, to request automatic notification of new listings and to request a detailed and human edited market value analysis of your property, go to http://www.Huntsville-Homes.com
Philip Winburn
Huntsville Alabama Real Estate; First Time homebuyers.
On of our most rewarding roles is helping first time homebuyers. Yes it is sometimes a lot more work than working with clients who have Purchased and sold several pieces of Real Estate. The homes that first time buyers are generally entry-level homes that are modestly priced so our commissions are quite modest as well.
The reward is in helping first them homebuyers, teaching them the steps to home ownership and helping to protect them from costly mistakes.
Seeing them and their families when they own their own home is almost as big a thrill for us as it is for the buyers. Often we work with single mothers and it is great to see then starting to enjoy having a place of their own.
The will begin to enjoy leveraged appreciation and see deductions on their tax return building wealth over time.
Yes it’s fun to close a huge expensive home and deposit a LARGE commission check but it’s fulfilling to help someone and impact their future and that of their family
Philip Winburn
http://www.HuntsvilleRealty.net
http://www.Huntsville-Homes.com