What to Expect From the 2018 Real Estate Market

How is the Birmingham real estate market? I’ll go over market conditions and what to expect from the 2018 market today.

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Let’s take a look at the state of the market and what those market conditions mean for real estate in 2018.

Inventory reflects the number of homes on the market. Here are the inventory levels for December 31 over the course of the last five years: 

• 2013 - 7,439 homes
• 2014 - 6,568 homes
• 2015 - 6,677 homes
• 2016 - 6,190 homes
• 2017 - 5,304 homes

As you can see, inventory dropped significantly from December 31, 2016, to December 31, 2017. That means there has been a significant drop in the number of homes available for sale. 

If you are a seller, now may be a good time to put your home on the market. Homes are selling quickly if they are priced and positioned properly in the market.

Of those 5,304 homes, 1,000 of them are under contract in some form or fashion. 

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Now is a great time to enter the market as a buyer or a seller.

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Another major factor in the real estate market is mortgage rates. Interest rates continue to skyrocket. As rates go up, your buying power goes down. Rates have gone up three-eighths of a point over the last 20 days, which would significantly impact your mortgage payment and your buying power in the real estate market. Check out this attachment for more.

If you are a seller, that means that your buyer pool may be dwindling.

That said, now is a great time to enter the real estate market as a buyer or a seller. If you have any questions, just give us a call or send us an email. We would be happy to help you!

Big Opportunities in the 2017 Birmingham Market

The year is almost over, so we're seeing expert predictions for the 2017 real estate market start to pour in. Most of the experts share the same opinion for what the market will look like next year.  

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The year is winding down and I'm excited to share our 2017 real estate market forecast with you today. 

The market looks like it could be really hot—scorching, you might say!

There's a lot of information going into this prediction from experts who are a lot smarter than I am, like the National Association of Realtors, the Mortgage Bankers Association, Fannie Mae, and Freddie Mac, to name a few. They're all predicting a hot year for home sales in 2017.

The NAR is predicting that home sales will reach 6 million next year after predicting 5.8 million homes sales this year. Other organizations predict well over 6 million home sales in 2017—that would be a stronger market than we've seen in a long time.

All signs point to a strong, hot market in 2017.

So what's driving this trend?

First, the economy is solid and growing right now. Another big factor is Generation Y (millennials) finally entering the market after putting off homeownership in many cases. They typically buy later in life, but they're getting to the point of being a major driving force in the real estate market. When they drive up home sales, it will be great for the economy. 

This will also drive up your home's value. If you're even just thinking about selling your house, be sure to give us a call or send me an email soon. I'd love to talk you through all the opportunities the market will provide in 2017. 

How Can You Ensure Your Offer Is Accepted?

Selling your Birmingham home? Get a free home value report

Buying a Birmingham home? Search all homes for sale

The spring market here in Birmingham is on fire right now. To help you make the most of a crowded market, I want to share some advice on how to handle a multiple offer situation. Here are a few things to think about when you're competing against other offers:

• How much are you asking the sellers to pay in closing costs? 
• How flexible are you on the closing date?
• Are you working with a reputable lender? 
• Are you conditionally approved? 
• Do you know what the seller is looking for?

As you can see, it's crucial to have a general idea of your needs and the seller's needs when trying to get your offer accepted. If you have any questions for us, or if you would like our assistance, give us a call or shoot us a quick email. We would love to hear from you! 

 

How Can You Make the Most of Buying in Birmingham This Spring?

Selling your Birmingham home? Get a free home value report

Buying a Birmingham home? Search all homes for sale

 The spring real estate season is right around the corner! To prepare all our first-time home buyers, we thought we would share some tips today to help ease the process for you! 

1. Learn about the process: Sit down with a real estate expert so you can find out what it's going to cost you out of pocket for things like home inspections and other common steps in the process.
2. Contact a great lender: Knowing what you can afford is crucial to the home search. Closing costs and unexpected fees are only a few of the many things that could surprise you in a real estate transaction. 
3. Purchasing will cost less: If you're still thinking about renting to save money, you may be mistaken. In many instances, we've been able to find a home that buyers love and that is cheaper than renting.

We hope you found some of this information helpful. If you would like some more detailed tips on how you can make informed decisions when buying in the spring market, give us a call or shoot us a quick email. We would love to give you a hand!

How Can You Accomplish Your Birmingham Real Estate Goals in 2015?

There are many great Birmingham area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Value Report so you know what buyers will pay for your home in today's market. You may also call me at 205-536-9194 for a FREE home buying or selling consultation to answer any of your real estate questions.

Hello, and welcome back! We hope you're having a great start to the new year!

We're very excited about 2015. Our team sat down and discussed our goals for the year, and we think it's going to be even better than last. We're going to need your help in order to accomplish the HUGE goals we've set for 2015! 

If you or anyone you know is looking to buy or sell real estate this year, don't keep us a secret. We would love to help you accomplish your real estate goals! Whether you're a first-time buyer or someone who is having trouble getting their home sold, we can help you get the results you desire. During our buyer advantage consultation, we will develop a strategy to find your dream home. We have our team divided into buying and listing specialists to help you meet and exceed your real estate expectations. 

Want to know whether now is the time to sell? We would love to put together a market analysis for you, so you can make an informed decision. Our goal is to provide the highest level of service in order to be worthy of introductions to your family, friends, and acquaintances. 

If you have questions about how we can help you and your loved ones, or would like real estate assistance of any kind, don't hesitate to give us a call or shoot us a quick email. We would be honored to serve you!

 

What Can You Expect from Birmingham Real Estate in 2015?

There are many great Birmingham area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Value Report so you know what buyers will pay for your home in today's market. You may also call me at 205-536-9194 for a FREE home buying or selling consultation to answer any of your real estate questions.

We just wrapped up another incredible year for real estate here in the Birmingham area! The recovery of the market is in full swing, and 2015 looks to be even better than 2014!

We saw an increase in sales of 5.5% over 2013, as well as a decrease in inventory of about 4%! Shrinking inventory is great for homeowners, as it results in an increase in home values. Additionally, the fact that sales are up shows that the public has more confidence in the market and the economy at large.

When you look at these fantastic conditions and combine them with the fact that interest rates are at an all-time low, it becomes clear that now is a fantastic time to buy or sell a home!

If you or anyone you know is looking to take advantage of these fantastic conditions, don't hesitate to give us call or shoot us a quick email. We would love to give you a hand!

Thanks, and make it a great day!

Birmingham Real Estate Market Update for June 2014

There are many great Birmingham area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Value Report so you know what buyers will pay for your home in today's market. You may also call me at (205) 281-6641 for a FREE home buying or selling consultation to answer any of your real estate questions.

Birmingham Real Estate Market Update for June 2014

Today I wanted to provide you with a very short market update for the Birmingham area.

April was actually a very good month for home sellers in Birmingham. There was a 7% increase in the number of homes sold this year versus last year. There was also a 3% decrease in inventory, which hints to me that property values will be on the rise this summer.

We had a 6% increase in the average home price in Birmingham.

Overall, this is a very exciting time to be involved with the real estate market in Birmingham. It looks as if we're in for a busy spring and summer, so if you're thinking about buying or selling a home, please do not hesitate to contact me.

You can contact me via phone or email with any further questions.

Thanks for tuning in!