Huntsville Alabama Real Estate

Inspiration on Green Mountain Breaks Ground

2008-04-13T09:00:00.000-07:00

Huntsville’s first NAHB certified community begins road construction in the first quarter of 2008.

In early February, Love Development of Alabama received the final approval for construction of the much anticipated project, Inspiration on Green Mountain. This is the first Green Huntsville Alabama Real Estate Development certified by the NAHB (National Association of Home Builder’s) Standards. “We understand there are limited natural resources available”, stated Bob Spence, managing partner of Love Development. Their company recognizes the need to minimize the environmental impact by creating communities engineered as part of the natural environment.

Deliberate care is being taken by the developer to create balance and harmony with nature. The project has multiple options for green home sites and home styles. There are three types of home sites to choose from: Manor Sites, Bluff Sites, and Estate Sites. These sites have pre-engineered landscaping guidelines designed to preserve green areas on each lot. There will be many custom designed home plans to choose. The plans are Southern Mountain Vernacular homes expressive in three distinct styles: Arts & Crafts, Victorian and Classical styles.

The infrastructure construction and home site layout are in progress, and will last for several months. The first home will begin construction late in 2008. Presales of Phase-I will begin in a few months but reservations maybe submitted at anytime. Bob Spence and the Inspiration staff will be overseeing all phases of sales and construction.

Inspiration on Green Mountain offers residents world-class amenities designed to embrace nature at her finest. At Inspiration Point Clubhouse, reserved exclusively for home site owners, residents can cool off in the refreshing waters of the pool or challenge themselves with a workout in the fitness room. The outdoor pavilion area, overlooking the pool, provides panoramic bluff views of the Flint River Valley below and is perfect for outdoor entertainment and gatherings with family and friends. For a relaxing afternoon, take a walk along quiet streets or venture below the bluff to explore nature on a meandering trail of hardwood canopy, budding dogwood and cool, green landscape.

Huntsville is experiencing explosive growth and Huntsville AL real estate is strong. Inspiration on Green Mountain is a needed project of Huntsville Homes for sale. Green is becoming more important for our planet and this community will set the standard for Huntsville Alabama and northern Alabama. The surrounding area has abundant green space. With the majestic mountains, lush meadows and flowing waterways, it is a nature lover’s paradise. As the population grows, Love Development of Alabama, is designing communities to complement our nature and create a heritage for years to come.

Inspiration on Green Mountain, A Huntsville Alabama Green Development

2008-04-02T21:28:00.000-07:00

Located in Southeast Huntsville on Green Mountain, Inspiration on Green Mountain will be Huntsville's first NAHB (National Association of Home Builders) certified Green Development. The project will have grand mountain views and feature some of the last remaining bluff views of the valley below.

Simply put, we will blend the best of yesterday's traditions with the needs of today's lifestyles What is Green? This is the biggest question when people first hear of it. Green is really environmentally friendly homes with all aspects of the grounds, construction methods, features and amenities designed to be environmentally healthier. Green development methods reduce the impact that construction has on an area. These practices go beyond average conservation efforts and take into consideration nature with attempting to leave many of the natural resources in place. Think of it as trying to form a house to its environment instead of just scraping and leveling the land to make it easier for construction. You can help the environment, reduce your power bills, use environmentally safe materials, reduce the impact on the building site, and leave a healthier place for your family. A point made by Bob Spence of Love Development.

Love Development of Alabama will be carefully selecting architects, builders and contractors who understand and share this vision. There are doom and gloomers out there who go to far about the environment. What about sensibility for our environment? This country was built by the preceding generations who wanted to make it better for our generation. This is the philosophy of the developer and this development will be built by those who want to improve the area for those to come.

"Simply put, we will blend the best of yesterday's traditions with the needs of today's lifestyles", stated Spence. This community will offer all the features to fit your needs.. In phase one of the project there will be approximately thirty three home sites released. Construction is slated to begin in February 2008. Inspiration on Green Mountain will be one of Huntsville Alabama Real Estate premier neighborhoods. It will feature builders and architects who have experience in The Ledge's and Providence.

The Return Of Big Union Power

2008-03-19T21:08:00.000-07:00

I would like to make some statements here. I have never supported the power of big union. I have always seen unions as almost the first lobbyist group in the United States. When the union was about the person and not about the system it was a good thing. When power of the union became about the control of the members' dues (the money) the membership lost their real power. I am 40 years old and for most of my life I have felt that unions were counter productive to capitalism. I watched the liberal agenda toward entitlements and felt the unions were a very large part of this.

With this current economic situation we are in, I am beginning to question my thinking about unions. My general feeling about them will not likely change. I see the upper leadership of unions and our government wanting those positions because of personal agendas toward power and money.

HERE IS MY POINT!
There is the potential of a trucker strike in this country. Is this a good thing? NO!
However, with diesel fuel nearing $4.00 per gallon the average person needs some kind of power to combat the higher prices. There needs to be a serious threat to the taking away of windfall profits leading to out control inflation. The average working person is now paying food inflation of 30% over one year ago. Our fuel costs are up more than 100% from 2003,

I think there will have to be several strikes in several industries to create a balance in our economic system. With Exxon profiting at about $1,000,000,000 (1 Billion dollars) per quarter we have a responsibility to our children to take drastic measures as average citizens.

It will hurt our ability to function, but I think the hard working truckers of our country should go on strike. They should plan a strike for about one week. Just to test the waters. Do you realize that it would make a lot of supply in our market. It would create excess supply like gas, and excess produce. Excess supply will drive down prices. It will hurt at the boardroom level. If the strike doesn't help balance the system then they should strike for a whole month.

I think becoming a member of a union may be the best weapon we have over out of control profit taking, spiraling inflation, higher prices, and jobs lost overseas.

I want to reiterate, THIS WILL BE PAINFUL. The average worker in this country is feeling the pain now, with no real concern from the members of the government, nor the boardroom. The workforce needs to pass along the pain. Rising unemployment with strikes will give a blackeye to the government. It will slow down the economy, increase supply and decrease profit.

I am convinced this is a great answer. It would likely help us with the illegal alien problem. If the jobs dry up there is no real reason to be here illegally. If we slow down the supply we will slow down spending. We need a major slowdown in spending.

I think we will see a trucker strike this year. It will likely help in the long term future.

Huntsville Alabama is a great place to call home

2008-03-14T11:11:00.000-07:00

Huntsville has become one of the best cities to live in the United States. Huntsville, with its surrounding natural beauty like the lakes, rivers and mountians, is also a very-high tech city. Known as the "High-tech Capitol" of the south, it would compare with Silicon Valley.
Huntsville is home to Redstone Arsenal, an Army Base where extremely sensitive high-tech weaponry is developed. This isn't all the city has to offer. Huntsville has been home to many large companies. Boeing, NASA, Toyota, Ford, Marshall Space Flight Center, and Northrop Grumman are just a few of the hundreds of large companies in Huntsville.

The estimated population of the city of Huntsville is near 170,000 residents. The estimated population of Madison County is around 310,000. Huntsville has many great things to offer its residents. Lower cost of living such as propoerty taxes, a clean healthy environment, many natural resources, less congestion across northern Alabama, great schools, family friendly environment and an overall sense of being home. Huntsville is warm, friendly and inviting. The nearby surrounding areas include: Madison, Athens, Decatur, Hartsell, Cullman, Arab, Guntersville, Scottsboro, Harvest, New Market, and Fayetteville Tennessee.

Housing in Huntsville is holding steady. The average price of a home is around $200,000. Homes in the area stay on the market for an average of 90 days. The lifestyles and communities around Huntsville are as varied as the people. Southeast Huntsville is the most popular place to live. Schools, conveniences and proximity to Redston Arsenal create its popularity. The City of Madison is another very popular place. It is just five minutes from the airport and borders Research Park.

What is near Huntsville? Nashville is just two hours north, Birmingham is about two hours south, Atlanta is about three hours away and Memphis is about four hours away. Some of the best fishing in the world is at Lake Guntersville, less than thirty minutes from Huntsville.
There are two major hospitals in Huntsville: Crestwood and Huntsville Hospital. Huntsville Hospital is located Downtown on Governors Drive and Crestwood is located just off Airport Road.
Huntsville Alabama Real Estate

Communities range from Ranch style neighborhoods to communities such as Inspiration on Green Mountain. Inspiration is an NAHB certified Green development, first of its kind in Huntsville. Traditional homes are very common in Huntsville but a need for condos and luxury homes is rising. Two major projects are Chaney Place Condominiums with 2 and 3 bedroom units. Also there is McMullen Cove with its sprawling 5500 square feet castles. There is a large span in pricing. A basic three bedroom two bath home could go for as little as $100,000 and the homes in McMullen Cove in the upper $900,000.

Huntsville is preparing for almost exponential growth over the next few years. BRAC, Boeing and many other companies are expanding operations in northern Alabama. We are seeing a very large migration from nothern states. if you haven't yet, check-out Huntsville Alabama. You owe it to yourself to find out what is happening here.

Additional Real Estate consultation is available by calling (256) 513-1801

Overcoming Higher Gas Prices

2008-02-29T19:51:00.000-08:00

It is amazing that just five short years ago we were paying less than $2.00 per gallon for gasoline. In 2003 I was paying around $1.60 for a gallon of regular. The days of low prices are gone and any excuse is a good one to raise the price of gas. These rising gas prices have taken a toll on the economy and the cost of living. If gas prices and food were calculated into inflation it would be off the chart. We will chronicle the experience of a consumer. We will, for privacy reasons call him Joe (average Joe). We will have Joe give us regular reports on how much his purchases have increased in price. Joe wants to find a way to conserve gasoline to help his wallet and increase the gasoline supply.

There is only one way for consumers to combat gas prices, use less gas. Using less gas will give more back into the supply chain decreasing demand. Less demand will drive down prices. At first glance it may seem impossible for the individual to decrease gas consumption. There are creative ways to do this and keep your lifestyle. Here are a few.

If you are thinking of selling your home you could buy a new one closer to work
If you live near bus stops you can take city transit, this will become more popular as gas prices push near $4 per gallon this year.
Hybrid / Electric cars - The technuology has improved a lot over the last few years.
Car pool - We give this one five stars, it is a way to share the expenses with others and cut your gas consumption in half.
Change jobs - if you are thinking of changing jobs try to find one closer to home. If you can work from home change to it.
Scooter - Unless you live and work in low traffic areas we don't suggest this one. There are enough drivers who are distracted by cell phones and other things. You might not survive long with this option. You are at the mercy of all drivers.
Trips / Vacation - Run your trips and vacations as close to home as possible. Seeing the sights of America is a great thing but try shorter trips. If you keep your trip to a couple of hours you would reduce gas consumption and strengthen your local economy.
Reduce your electricity use - Reducing your electricity will reduce the amount of fuel used in some electricity production.

Saving money on gasoline will free up more money for you and your family and is the only control we have over the increasing costs of gasoline.

More suggestions will be written in time, especially for Huntsville Alabama.

Huntsville Homes Sales Holding Steady 2006 and 2007

2008-02-18T20:40:00.000-08:00

Huntsville homes sales saw a significant increase from 2005 to 2006; 11% to be exact. The sales volume in 2005 was 4175 homes in the range of $100,000 to $500,000 per home selected for units sold. The total dollar volume sold for 2005 was $816,455,378 and the total volume sold in 2006 $935,341,910 an increase in total dollar sales of 14.5%. The average sales price in 2006 was $202,000 up from $195,558 in 2005 an increase of 3.3%. Indicating a better standard of living.

From 2006 to 2007 the sales volume in quantity of homes stayed about level. We did continue the trend of the increased total dollar volume and the average sales price per home. In 2007 the total sold volume was $985,972,253 an increase of 5.1% over 2006. The average sales price $212,494 an increase of 4.6% over 2006. So the standard of living did increase in 2007.

This chart shows the number of units sold 2005 through 2007. We have generally shown an increase in quanity of homes sold. The data above shows we are also seeing more purchases of higher priced homes.

If you would like additional data about Huntsville Alabama real estate stats feel free to contact me at (256)513-1801.

How I got into Real Estate

2008-02-15T11:46:00.001-08:00

Several clients have asked me why I got into real estate. This may sound a little sappy but I first got into it to provide a better living for my family. I was going to change careers but where did I want to be. I have a genuine desire to help people. I have worked in sales and marketing positions in the past. After a lot of heartfelt prayer and consideration real estate was the best place to put my passion for people and my past experience. It has been a very rewarding move for me.

I get to assist in the needs of others and provide for my family at the same time. For me it has been the best move I have ever taken. I have hired in as a new employee with other companies but I needed to make more of a difference. In positions in the the past I always felt like a number. My position was only there to assist in making profit for a shareholder. This always left me with a hollow feeling. I have certainly learned over the years it isn't about how many zeros are on the check.

I like to get paid for working but I want to make a true differnce. In real estate I can build a business and leave a legacy for my children. I can make a difference for the people I come in contact with. That is why I went into real estate. I can really see myself making a differnce in my community. It isn't about making profit in Huntsville Alabama.

Mortgage Caution Is Needed

2008-01-25T11:57:00.000-08:00

NAR is urging the U.S. congress and President to pass a stimulus package. If passed it should help re-energize the economy and help certain buyers purchase homes. In the bill Fannie Mae and Freddie Mac would have less contraints.

The new bill will have a positive affect if passed. Helping the overall Huntsville Alabama Real Estate market. I hope the new proposed bill is put together with certain built in precautions to ensure we don't overheat the housing market. When we do things to over stimulate the economy there is always a backlash; a payday so to speak. The entire country is now paying the price for the over inflating of the real estate market.

It is very easy to be an arm chair quarterback on such things and criticize others. However, I hope everyone learns a valuable lesson for years to come. I want the economy to be good for my children and grandchildren. We need to be good stewards with our blessings. I am a conservative by nature but part of the problem has been greed and taking to much profit. I can't believe I am saying there is such a thing as too much profit. Excessive profit taking is not a good thing. There are always consequences on everyone.

Many areas of the country are very depressed right now. I have several clients from Florida and Michigan. In their states foreclosures are out the roof, both states are experiencing a mass exodus and there is property for sale everywhere. In these two areas property taxes are twice as much as Alabama. In Florida especially, insurance rates are 500% more than three years ago.

Overall Huntsville is doing very well economically. It is our responsibility to keep it that way.

New Mortgage Bill Passed in D.C.

2007-12-21T19:12:00.000-08:00

The House and Senate passed the Mortgage Cancellation Tax Relief Act Bill this week. This will provide some needed tax relief to home sellers.

Under our current law lenders must provide a 1099 indicating debt forgiveness. If a property is sold for less than was owed on it the differnce is considered income to the borrower. The new bill will, if signed by President Bush, will relieve much of the tax burden on families who have gone through foreclosures. The new law would all individuals with castastrophic loss. Many losses are not related to the mortgage crunch we're experiencing. It could be any number of financial, health and job losses causing the default. The new law will only apply to primary residences. So, if you went a little to far out on a limb you could still suffer under the current law.

The National Assiociation of Realtors, is urging the President to sign this bill quickly.

I personally see many people who come to me with financial issues and in many cases there are only two ways out. 1) A fast sale, possibly even a short sale, to payoff the debt. or 2) A default leading to foreclosure. We still have a really good Hunstville Alabama real estate market but we are seeing shares of the subprime woes.

Realtors® Urge President To Sign Tax Relief Bill Quickly To Ease Foreclosure Burdens
WASHINGTON, December 18, 2007 -
Many families and individuals are one step closer to seeing tax relief, thanks to the passage of the Mortgage Cancellation Tax Relief Act by the U.S. Senate and House of Representatives, according to the National Association of Realtors®. Since the early 1990s, NAR has advocated repealing the current law that forces individuals to pay an income tax when they have had a loan forgiven in either a foreclosure, a sale in a market where prices are declining or because the lender grants new mortgage terms.
“In sending this bill to the president, Congress made a good decision today that will affect many Americans who find themselves in a truly bad situation,” said NAR President Richard Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif. “As the leading advocate for housing issues, NAR believes that changing the IRS code is an issue of fundamental fairness. It will relieve a tax burden at a time when an individual or family has experienced a true economic loss arising from the sale or loss of their home. These people are already in financial distress and are most likely unable to pay additional taxes.”
NAR is committed to continuing efforts to make the horror of losing a home less burdensome for families. “This is not only about the subprime turmoil we are currently experiencing. This is about families where job loss, divorce, health issues, a drop in the value of the home or other unfortunate circumstances have caused them to lose their home or have to sell that home for less than the amount owed. Clearly, it is unfair to tax people on a phantom income when they most likely have no cash with which to pay the tax,” said Gaylord.
The current tax code requires a lender who forgives debt to provide a Form 1099 to the IRS stating the amount the borrower has been forgiven. This disclosure applies whether it is a short sale, foreclosure, deed in lieu of foreclosure or any similar arrangement that relieves the borrower of the obligation to pay some portion of their debt. If the property is sold at foreclosure or is sold for less then was borrowed, that difference is considered income and is subject to the tax.
The Mortgage Cancellation Tax Relief Act would ensure that any debt forgiven on any mortgage debt secured by a principal residence will not be taxed. The legislation includes a provision to safeguard against abuses. The provision, similar to one that already exists for commercial real estate owners, would treat commercial and residential property equally.
“Realtors® are about building communities, not just selling homes. We must work together to prevent the dream of homeownership from becoming a nightmare,” said Gaylord. “This is just one step that will help families get on with their lives and begin rebuilding their economic security. As the president has been a proponent for this change, we hope he will quickly sign this bill into law.”
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

Will FHA Legislation help Homeowners?

2007-12-20T08:08:00.000-08:00

The U.S. Senate in mid December passed the FHA Modernization ACT of 2007. I am not sure what modernization has to do with anything but we will look at the semantics later. This bill was passed to help homeowners who would be facing foreclosure from the risky loans given over the last few years. Many of my clients ask me if it will help. My answer is yes. One point to mention is that this is a shell game to cover the tracks of the FHA and the government. They must blame the banking systems for risky loans. Then, they must exercise their power to say they are helping. Let's not be fooled here, the FHA wanted the market of home owners to be larger.

The risky lending practices allowed by FHA is what caused the housing bubble that has now burst. The resetting of these loans, in this new legislation, will help people with mortgage loan payments which were set to skyrocket. Huntsville homes for sale and many other markets were beginning to see large numbers of foreclosures because of the defaults of homeowners. These home owners could no longer afford their payments.

This new environment that has been created will have some positive affect. The foreclosures will bring in the savvy investor who will turn these properties into profits. There will be some losses to home owners and the banking system. Now, the new legislation will keep it from being as severe on the economy.

Is going For Sale By Owner the right way?

2007-12-19T19:27:00.000-08:00

I have heard this many times from relatives, friends and the general public. It is usually the inexperienced who try to sell their property on their own. If you are in a good market and get the right exposure then and only then may it be the right time to go it alone.

I dug up some information from the National Association of Realtors (NAR). I took a look at the 2006 home sellers who threw caution to the wind to “go it alone”. In 2006, just 12% of sellers chose the FSBO (“For Sale By Owner”) route, down from 13% the previous year, according to NAR’s 2006 Profile of Home Buyers and Sellers. In reality only 7% of the market was open market FSBO sales. 40% of all FSBOs sold their homes to someone they knew never becoming a true for sale by owner. 60% are just unrepresented, unprepared and unprotected.

Here is what I mean by unrepresented. FSBOs have no one watching out for their interests. They cannot attract the industry because they chose to go-it alone. In most cases they have no one to step in to fill the gap in the inconvenient moments. What about misunderstanding between the buyer and seller. These problems do arise.

What about being unprepared? FSBOs should really consider the following.
- Safety is really a concern. How do you know who you are letting in your home. I personally interview every potential buyer in my office before I take them to view any properties.
- Contracts and legal concerns. The biggest thing I watch out for on behalf of my clients are the potential "Gotchas". I try to address all the concerns in the contracts to avoid in legal issues.
- Inspections - Is there potentially something in your home that would cause a buyer to back out of the purchase? Where do you turn to find these answers?
- Staging and curb appeal- How do you prepare your house to capture the essence of the home?
- Pricing - If you price the home to high you don't get to the buyers. If you are too low your are losing equity.

Finally FSBOs are unprotected - From safety, to client representation and legal issues most for sale by owner sellers cannot take it all into consideration. This leaves the door open for several problems including law suits.

Here are a few more stats. Of all FSBOs 18% indicated that preparing the home was the most difficult task. 16% had concerns of paperwork, 15% were most troubled by selling schedule.

What about the net income from the sale. In 2006 homes sold by Realtors sold on average for 32% more.

I have not seen all the numbers but I am certain they don't really vary for Huntsville Alabama Real Estate. If you need to speak with a Huntsville real estate consultant give me a call (256) 513-1801.

November Numbers sales numbers detailed

2007-12-17T12:04:00.000-08:00

In my last post I gave you the number of huntsville homes for sale, sold data in November 2007.
That number was 418 homes.

Here is a breake down of those sales by pricing category in $50,000 increments.

Qty Sold: Price Range:
15 $0 - $50,000
43 $51,000 - $100,000
99 $101,000 - $150,000
85 $151,000 - $200,000
61 $201,000 - $250,000
43 $251,000 - $300,000
26 $301,000 - $350,000
27 $351,000 - $400,000
10 $401,000 - $450,000
9 $451,000 - $500,000

Of the total Homes sold 45% were between $150,000 and $300,000. Listings stayed on the market for an average of 100 days. If you are considering selling your home this is good news when the rest of the country is up for sale 9 to 12 months. Our area is just over 3 months. Huntsville Real Estate is some of the best investments in the country. Home values are holding steady while others states are declining.

Huntsville Housing is solid

2007-12-15T15:20:00.001-08:00

I know the national news says it's bad, but unlike much of the rest of the country, Huntsville Alabama real estate is doing very well. Sales per month are holding solidly. January was the lowest month with 404 homes sold. June was the highest month with 608 homes sold. The total homes sold from January 01, 2007 through November was 5421. These numbers only reflect the reported realtor information and excludes sales such has huntsville for sale by owner.

The average sales price for Huntsville homes for sale was $199,790. The average list price was $203,043. Homes sold on average within about 2% of the asking price. Many have said it is a buyer's market in our region. The market is softening some on what the seller is willing to give up but the sales price is staying relatively level.

As we watch the montly average sales volume there is another trend to watch, the huntsville luxury home market. Five years ago home price ranges were from $80,000 - $400,000 those numbers have signifcantly increased to $125,000 - $2,000,000. Thes years is even strong into December.

Huntsville has had positive reports from national publications this year. We have been in the top 100 best places to live, in the top 100 best economies, top 100 best real estate investments. With the move of Brac and the announcement of new companies moving to the area, we are expecting to see continued growth for several years.

Many of my clients do not want to live directly in Huntsville or even in madison count. So, I have been directing many of them to Arab Alabama real estate. Arab offers a simpler less hectic life style. There would be about 30 miles of commuting for those who wish to work in Huntsville. Several clients want to live in the country with a good view of the mountains or valley. They can have both in Arab.

Huntsville International Airport - Preparing For Growth

2007-12-12T13:08:00.000-08:00

The Huntsville International Airport traffic count is growing creating an expansion need.

The Huntsville International Airport is considering adding two wings for approximately $13,160,000. This will add 14,000 square feet to the overall site of 20,000 squarefeet. The project will expand the walkway, provide a new check point for security, increase the retail/concession areas to almost 6,000 sq. ft. The addition of the two wings is just part of an overall project for $65,000,000. Many additional improvements are planned.

Incoming and outgoing traffic in July was up 7% with an increase of almost 15% in August. These numbers are compared to the same numbers as last year.

This traffic is showing an already known trend of northern Alabama Growth. We will focus on Huntsville Homes for sale in our next article. We will be looking for similar growth and trends.