Market Conditions for Montgomery, Alabama May 2008

Market Conditions for Montgomery, Alabama

Reported by Jere Whitehouse - Associate Broker, CRS, ABR, GRI, SRES, E-Pro, Associate Broker

As of May 6, 2008.


I would like to share with you some great local news for Montgomery and the surrounding areas:

Home sales around Montgomery remained well below 2007 levels in March, but the pace has picked up compared to February, pointing to a shift in sales! The average Montgomery area home price climbed in March 2008 as compared to February, up to $156,390 from an average $150,618, though still down well below from home prices this same time last year.

This means "Great Buys" are still available for Home Buyers, AND a great "Value" for Home Sellers as home prices are coming back to reality!

Homes sold faster in Montgomery last month compared to February, bucking a statewide trend. Homes in the Montgomery area sold after an average of 93 days on the market as compared to 136 days statewide. The second quarter of 2008 continues to reflect a period of correction compared to historic levels, but contributing factors that are leading toward momentum and long term stability in the housing market include an improved credit environment, realistic buyer and seller value expectations, and continued improvement in the level of housing afordability!

The interest rates are still at historic lows, and the selection of new and existing homes in all areas and price ranges is "Excellent"

Spring is here, and there is lots of buyer activity with everything in bloom, schools are letting out for summer break, and Maxwell AFB is preparing for its annual migration of Air War College students and enlisted support... which is always a great boom for our local economy and greatly appreciated!

This is GREAT news for anyone wanting to buy, sell, or invest in the Montgomery Tri-County areas and now would be a great time to make a move in the real estate market.

Give me a call or send me an email and let me know your situation and how I can help! Together, I am sure, we can find a solution to meet your goals.

(334) 324-9485 or Jere@JereWhitehouse.com

Sincerely,

Jere Whitehouse

Time To Spring Forward!

Time to Spring Forward!

As seasons change so do your real estate needs. Remember; when you´re planning to buy or sell, you can count on timely
service, experience, and commitment of
Jere Whitehouse and his team of real estate professionals at RE/MAX of Montgomery. When it´s time to move, you get results with
"Caring Real Estate Service
Beyond Expectations!"
From - Jere Whitehouse


In Aug. 2005, Congress passed an energy bill that included extending Daylight Saving Time by about a month. As of 2007, DST starts the second Sunday of March and ends on the first Sunday of November.

Most of the United States begins Daylight Saving Time at 2:00 a.m. on the second Sunday in March and reverts to standard time on the first Sunday in November.

Arizona (with the exception of the Navajo Nation) and Hawaii and the territories of Puerto Rico, Virgin Islands, Guam, and American Samoa are the only places in the U.S. that do not observe DST but instead stay on "standard time" all year long.
(And if you've spent any time in the sweltering summer sun in those regions you can understand why residents don't need another hour of sunlight.)

safety reminder
Many fire departments encourage people to change the batteries in their smoke detectors when they change their clocks because Daylight Saving Time provides a convenient reminder. "A working smoke detector more than doubles a person's chances of surviving a home fire". More than 90 percent of homes in the United States have smoke detectors, but one-third are estimated to have dead or missing batteries.

Have a wonderful safe weekend and give me a call! I look forward to hearing from you and am at your service when you are ready to make a move. Interest rates are near 40 year lows and now would be a great time to "Spring" into action!

Sincerely,

Jere

Home Sellers Take A Walk!

When to Take a Walk

Your agent calls to say he is bringing prospective buyers to see your home. You quickly straighten up the living room, make the beds, and run the dishwasher. What should you do then? If you have to let them into the house -- then go to a friends house, take a drive or walk the dog!

Many owners think they should stay close by while their home is being shown. They are afraid that the real estate agent might miss the storage shelves in the basement or forget to point out the beautiful new floor in the kitchen.

It is better for the agent to miss something than for you to be ushering the buyers around, so resist the temptation to stay while your house is being shown.

Buyers usually base their decision to buy on an attraction that often has more to do with emotions than pure logic, and a lot goes on between buyer and agent during a showing. The buyer needs to evaluate the home's pluses and minuses, and the agent needs the opportunity to work with the buyer's objections. This process cannot take place comfortably if the seller is on the scene.

Does This Real Estate Tip Apply to YOU?

I've learned these tips through over 25 years of experience as a REALTOR in the Montgomery Alabama Area. But I know that YOUR situation might be different. That's why I'm here.
It's my job to personally advise homebuyers and sellers.

Feel Free to give me a call or send me an email should you have any questions or need any help buying or selling a home in Central Alabama. I look forward to hearing from you!

Happy Thanksgiving!

Thanksgiving 2007 is upon us already! This is a time for counting our blessings, and I want you to know I am counting you too! I want to wish you a safe and wonderful holiday season this year and to express my thankfulness to you for visiting my websites and blogs and taking advantage of all the real estate resources I have been providing for you.

I am just a phone call or an email away, so please don’t hesitate to contact me with any home buying or home selling questions, or just to say hello and Happy Thanksgiving!

I am never too busy for my clients or their referrals; if you or anyone you know can benefit from my years of real estate experience, it is my pledge to provide you and them with the best “Caring Real Estate Service Beyond Expectations” because I really do care, and I want to be the best, and I want you to agree!

In the spirit of the season, I found a great house and home Thanksgiving resource of decorating ideas and recipes here from HGTV , and just for fun, here is some real estate trivia you may enjoy !

Happy Thanksgiving!
Jere

Jere Whitehouse - Associate Broker, RE/MAX of Montgomery

Phone: 334-324-9485
Email: Jere@JereWhitehouse.com
Website: http://www.yesmontgomery.com/

Real Estate News For November

Despite all of the negative National news about the doom and gloom of the housing market, I am pleased to report that Central Alabama is still

"Alive and Well"!
You can STILL buy a home with No Money Down, under several really great loan programs available, and if you a are a seller in our area and hearing nothing but excuses as to why your home is not selling, let's talk!

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month's issue includes topics such as:

"It's A Buyers Market. So, When Are You Going to Buy?";

"Don't Let Home Heating Wear Out Your Wallet";

"Safeguarding Your Mortgage Application Takes Commonsense";

"Important Facts That Will Affect Real Estate Pricing Over The Next 20+ Years";

"New ID Theft Study Points to Strangers";

Plus a roundup of October real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

If you wish to recieve this newsletter each month, just call or send me an email and I will be happy to add you to my growing list of satisfied customers

Sincerely,

Your REALTOR:
Jere Whitehouse Associate Broker
November 2007
Caring Real Estate ServiceBeyond Expectations

Copyright © 2007 Realty TimesAll Rights Reserved.

It's A Buyers Market. So, When Are You Going to Buy? A buyer's market is technically defined as: "A market condition characterized by an abundance of goods available for sale." The in-depth definition from the same source is: "When a buyer's market exists in commodities, the buyer is able to be selective in purchasing contracts, as there are many individuals wishing to sell. Furthermore, these buyers will generally be able to purchase contracts at lower prices than those that were previously prevalent." The simple version is: when no one else wants a product of value -- buy it, because the price will be lower whereby you'll be able to maximize your investment for future gain. In essence -- buy low, sell high. When it comes to purchasing real estate, it's not as easy as investing in your 401K or savings account. Those are simple. You can select as little as $1 to invest each

Mortgage Rates U.S. averages as of October 25, 2007:30 yr. fixed: 6.33%15 yr. fixed: 5.99%1 yr. adj: 5.66%30 yr. jumbo: 6.98%
View current rates


Don't Let Home HeatingWear Out Your Wallet As sure as year-end holiday decorations hit the stores months early, the annual home heating fuel cost forecast will put a damper on season's greetings. The U.S. Energy Department's (DOE) 2007-2008 "Short Term Energy and Winter Fuels Outlook" is bleak thanks to both colder weather, than last year and record high fuel costs. Without the cooperation of Mother Nature and oil barons, conservation, weatherization and other fuel saving techniques will be key to saving on heating costs this heating season. Overall, when the four most common types of central heating were considered -- oil, natural gas, propane and electricity -- the DOE said the average cost of heating homes during the heating season will rise nearly $90 or 10 percent this winter compared with last year. Households warmed with heating oil will really get burned. The average heating oil bill is expected to rise by a whopping $319 this heating season,

Safeguarding Your Mortgage Application Takes Commonsense There are several factors that affect the real estate market as a whole. These factors can make the national market swing upward or downward. One is the employment expansion/shrinkage in the job market; secondly, is the availability of money to consumers; thirdly, is the size of the real estate inventory. When all of these come into alignment, you have a killer market that nothing can stop. When one gets out of kilter, it can make the market stall, shrink or halt no matter how strong the other two. It's a three-legged table, as it were. This is why even though you'll hear the stories nationally about real estate, it's not a national phenomenon. In the past year, 13 states have seen home sales price appreciation of more than 5 percent (National Association of Home Builders), as well as the number of home sales beating out the year before. Real estate, like politics, is local. So before you get excited or scared about a particular housing market, look and analyze what's going on locally to make a decision. With that said, there is a factor in preparing for a home purchase that both buyers and sellers have complete control over. Nothing about interest rates, inventory or employment

Winterize AgainstPesky Intruders Here's another reason to plug holes, stop gaps and otherwise winterize your home. Pests that get in can be just as expensive as heat that gets out. The National Pest Management Association (NPMA) says the last thing you want in your home for the holidays are the kind of unwanted guests that can turn out to be real creeps. Roaches can trigger asthma. Mice can gnaw through electrical wires and insulation. So can rats. All three will get into your pantry. Yeech. Unfortunately, just as you want to stay inside where the warmth is delightful, so do vermin and they can be quite frightful. "Pests adapt to the changing environment and seek refuge indoors during the colder months," says Cindy
CONTINUED >>>
Daily News and Advice -->Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
More Articles

October Roundup: Rates Fall

Important Facts That Will Affect Real Estate Pricing Over The Next 20+ Years

New ID Theft Study Points to Strangers

Popularity of Outdoor LivingSpaces Increases

Jere Whitehouse, Associate Broker,CRS,ABR,GRI,SRES,E-Pro Phone: 334-324-9485E-mail: Jere@JereWhitehouse.com

Web: www.yesmontgomery.com/ MontgomeryAreaHomeTours.com www.JereWhitehouse.com
RE/MAX of Montgomery334-324-94854240 Carmichael Ct. NorthMontgomery AL 36106
Equal Housing Opportunity


E-mail this Newsletter to a friend

Jere Whitehouse

RE/MAX of Montgomery

Phone: 334-324-9485

Email: Jere@JereWhitehouse.com

Website: www.YesMontgomery.com

Seller Beware

Sellers Beware

Here is a scenario for sellers to avoid.

You contact a real estate agent to list your home and the agent suggests that you might get more for your house than comparable homes on the market. The agent assures you that it only takes finding one person who is willing to pay your price!

Some agents approach a listing appointment as if

they are bidding for your home.

The unfortunate result is that you start out with an unrealistic opinion of your home's value.
There is often a strong temptation to work with a person who says what you want to hear.

An experienced, reputable real estate agent will back up their opinion of your home's value with hard data. The agent should give you information about the listing price of homes that are currently on the market, and recent selling prices of similar properties in your immediate area.

Even the most heroic marketing efforts won't work on a property that is obviously overpriced, (except in the most exaggerated of seller's markets.)

Even if you find a buyer who is willing to pay more than your home is worth, the sale could fall apart when the appraisal comes in lower than the

agreed-upon price.

Listen to everything, but be careful!

Does This Real Estate Tip Really Apply to YOU?

I've learned these tips through years of experience as a

top real estate agent. But I know that

YOUR situation might be different.

That's why I'm here.
It's my job to personally advise homebuyers and sellers.

Does this tip raise questions for you? Let me know!

I am happy to answer ANY questions. It's my job!
There's no obligation, and

I promise to get back to you quickly...

Jere@JereWhitehouse.com

Thanks to Jere our family is together this year

7/10/07
Hey Jere,

Your testimonials are what prompted me to give you a call in the first place. Now I would like to add ours to your growing list. You are amazing and new clients should know there is a difference in real estate agents!

I contacted you when the market was slow and our home had been sitting for over 6 months already. We needed to sell to get our family to my husband´s next military assignment. We were discouraged and prepared to be separated for a year if the house didn´t sell. When I spoke with you on the phone I asked you to just shoot straight with me. That is EXACTLY what you did!!

We scheduled an appointment for 2 days after our first phone call. Before meeting with us, Jere put together a booklet with our home on the front page. Reading over the information, we were amazed! Jere knew his stuff!

Jere arrived on time and ready to go. He put together realistic figures and a plan to get our home sold. He worked all Memorial Day weekend taking pictures and bringing signs and retaking pictures and getting the virtual tour up and running. In the first week we had more showings than in 6 months with our previous agent. Jere didn´t put us through the stress of an open house. Instead he directed open house goers to the virtual tour. That did the trick. Jere had our home sold within 3 weeks with a quick closing.

Thanks to Jere our family is together this year, instead of living apart. We love the military, but moving is stressful. Every move would go much smoother if we could work with Jere every time.

Moral of this testament.........There is a difference in real estate agents!!! Make Jere Whitehouse the FIRST person you call for all your real estate needs. In all of our moves we have NEVER worked with anyone more dedicated and dependable!

Ray and Angela Newbill
Major USAF