Blog Notes -
As you can probably tell, I’m still trying to get it together on my blog. I just needed to make sure I added it to my list of most important things to do. My hope is that this will become the resource that I wanted it to be. Stay tuned…
Local Housing Market – 
“Just how IS the local housing market?”
As you might imagine, I get asked this a lot – especially by those who live outside the area.
What I tell folks is this: In this market – which covers about ten counties in Alabama & Georgia – if there is a plot of land that can be had at a reasonable cost, builders and developers are snapping them up left and right.
New construction is continuing and expanding. There are several new subdivisions going up, as well as expansion phases in existing subdivisions. Property values are still trending upwards at approximately 5% or more each year, based on my research and first-hand experience.
The homes are getting larger too. A couple of years ago, a lot of the new construction seemed aimed at the “smaller is better” client. I always thought it should be “more is better – as long as the price isn’t out-of-whack.” So before the homes were in the 1400 to 1600 square foot range. Now, it’s 1800 or more. In some cases, a LOT MORE! (Think 2500+ square feet.)
Local Sales Statistics – Sept. 01, 2006 through Jan. 20, 2007
Total New Listings During This Time Frame 789
Median Sold Price $126,825
Average Sold Price $139,286
Average Days on Market 122
Total Home Sales Sold Dollar Volume $58,500,171
Type of Financing Analysis
Financing For Units Sold – in other words, how people paid for their home purchases.
Cash 48 Conventional 241
FHA 26 VA 96
Owner 0 Other 9
Still to come – Housing Sales Report for Sept 01 2006 thru Jan 20 2007.
More later,
David
