Stacey's Real Estate Blog

SALES INCREASE IN JUNE!!!

2009-07-30T15:58:00.003-05:00

Here is some more good news for the real estate market

Just a little bit of the article to show that the housing market is picking up

Perhaps more important, the months supply of homes for sale fell to 8.8 months in June, down from 10.2 in May and the lowest monthly supply since October 2007. Housing experts said that is a sign that the inventory overhang that has put downward pressure on prices is abating somewhat

For the full article check out the following link

http://usat.me/?35759830

Listing in Oxford

2009-05-18T14:38:00.004-05:00

Gorgeous Listing in Oxford with a bonus for a flat screen TV!! Seller is extremely motivated, bring us an offer.

New full brick home built in Greystone Manor offers all the amenities you could ask for! The interior features high end Delta Faucets throughout, Frigidaire appliances and a oversized jetted tub in the Master bath. In the large master suite you will find a walk in closet and a double vanity. Hardwood floors, beautiful wood built in bookshelves, and a gas log fireplace fill the living room. Arched doorways and rounded corners are found throughout the home along with double trey ceilings. Enjoy the view of nature while sitting in the window filled sunroom, also this could be used as a den or nice computer room. Features also include brick pavers that welcome you to the entry way and a full finished bonus room!

**Seller to provide $1500 toward *flat screen TV* if offer received before June 17, 2009!**

ETOUR OF PROPERTY

Please don't hesitate to call or email for any questions and to view more listings please visit my website

http://www.staceymcdonald.com/

New Information on $8,000.00 Tax Credit

2009-04-22T15:43:00.002-05:00

Have you heard the news??!! It's about the real estate market and it's not NEGATIVE!!! Check out the link below for this great opportunity for 1st Time homebuyers. and if you are not a 1st time homebuyer interest rates are still below 5%!!! Call me with any real estate questions or leave a comment

FIRST TIME HOMEBUYER TAX CREDIT

Featured Listing

2009-03-30T13:34:00.003-05:00

New Listing on the market in the Odenville area. Click on the links below for more information!

Etour of Home

Printable Brochure

Please don't hesistate to email or comment if you would like me discuss a certain topic on the blog!

staceym@era-king.com

First Time Home Buyers Tax Credit

2009-03-03T11:11:00.003-06:00

As you may have heard, significant improvements in the temporary First-Time Homebuyer Tax Credit were signed into law on Feb. 17 as part of the American Recovery and Reinvestment Act of 2009 to provide a housing stimulus for first-time home purchases that occur between Jan. 1 and Dec. 1, 2009.

This is even better news for first-time homebuyers than the tax credit announced in April 2008 because not only has the tax credit maximum increased from $7,500 to $8,000 — but more significantly — it does not need to be repaid unless the individual re-sells the home within three years.

There are several notable points about this federal income tax credit that I have bulleted for your convenience so you can easily explain the highlights to potential first-time homebuyers. They are:

Credit maximum was increased from $7,500 to $8,000. The credit is calculated as 10% of the purchase price. Example: If the purchase price is $70,000, the credit is $7,000.
Removed the repayment requirement, provided the homebuyer does not resell the home for three years.
Eligibility remains for first-time homebuyers only. In this case, a first-time homebuyer is defined as an individual who has not owned a primary home at any time during the three years prior to purchase, but who may have done so prior to that time. Although certain income limits do apply, the amount of the credit is the same for all taxpayers, married or single.
To be eligible for the full tax credit, the homebuyer can have an annual adjusted gross income of no more than $75,000 ($150,000 on a joint return). A homebuyer with an annual adjusted gross income above that level and up to $95,000 ($170,000 on a joint return) is eligible for a reduced tax credit.
The tax credit can be claimed on one’s individual or joint tax return for the purchase of any single-family home between Jan. 1, 2009 and Dec. 1, 2009. It can be claimed on a 2008 tax return (to be filed by April 15, 2009), an amended 2008 tax return, or a 2009 tax return. Individuals should consult a professional tax advisor for exact tax calculations and timing.

To further assist you in communicating this good news to other potentail First Time homebuyers, ERA Real Estate has created the Consumer Guide Chart that explains these important points.

If you have any further questions feel free to email me at staceym@era-king.com

Where's the Bad News?

2009-01-17T15:15:00.002-06:00

WHERE’S THE BAD NEWS?

We are two weeks into 2009 and I’m having a problem understanding why the media is so negative. It is a sign of the times when bad news sells and good news hardly gets a mention. So let’s take a look at the positive things that are happening and why we should look forward to a much better 2009.

Gas prices in the $1.50 range. That is lower than in many years and much less than just a few months ago. Where is the positive press on affordable fuel? It gives us all a lot more disposable income for fun things; therefore we do not have to spend every dime on necessities. That has got to make you feel better.

Mortgage rates are at an all-time low. As I am writing this Blog we are booking loans around 4.5% saving hundreds of dollars a month for the average homebuyer. If you are not considering buying you should definitely look into refinancing your current home. You can call any of our offices or click the mortgage link in our web site WWW.ERAKing.com. Josh Wright and Gerwin Wallace are our in-house mortgage experts. A mortgage consultation with either of them is free of charge and can be done over the phone or you can schedule a personal meeting.

Real Estate Values in Alabama have not fallen like in the high profile states like California, Florida, Nevada and Arizona. As a matter of fact in a report issued by the Federal Housing Finance Agency Alabama is one of the few states that are showing significant price appreciation gains from Q3 2007 to Q3 2008. Alabama is ranked 4th in the nation with a 2.4% price appreciation between third quarters of 2007 and 2008. You can read more about the Alabama real estate market at http://acre.cba.ua.edu/index.php.

On the political front we have a new congress and new president. Regardless of how we voted individually we have an opportunity for a new start with fresh ideas. It will be very important to the new regime to make a positive initial impact. With fuel prices retreating and the slowing global economy inflation should be held in check for the foreseeable future.

If you are in the market to buy this may be the best time in 20 years or more. The combination of stable prices and low interest rates are very rare and may never be seen again. If you are a first time home buyer you may be surprised to learn you can buy a house for the same or less than a rent payment. If you are looking to move up it is very possible you can buy more house than you currently have for close to the same payment as your current house payment.

Any way you look at it now is the time to take advantage of a rare confluence of occurrences we may never have the opportunity to see again. So log on, call or come by my office but now is the time to buy, sell and buy or refinance. We can do it all for you as East Central Alabama’s only “One Stop Shop”.

Visit Stacey's Website to see all the available homes on the market!

A Thanksgiving Prayer

2008-11-25T11:40:00.002-06:00

Thank you Father for the blessings you've given this day.

Help us to remember, Thou has shown us the way.

And give us strength to help those in need.

Never letting us forget, Thy merciful deeds.

Keep us in Thy tender loving care.

Save us, O Lord, when we are in despair!

Give us grace as we walk through life.

Inspire us to seek our brothers amid the strife.

Victory in Thee will be our guiding star.

In courage we march not caring how far.

Now we ask for the most important thing.

Grant us salvation to escape death's sting.

Copyright by Jim Smith

The Foreclosure Myth...

2008-11-07T14:52:00.002-06:00

Now this might be a little longer than usual but well worth reading...

The hot topic today in real estate is foreclosures. The question is, are they a good deal and should I buy? First of all, the vast majority of foreclosures are happening in California, Florida and other high profile markets. The foreclosure market in Alabama is relatively benign, containing only a fraction of the foreclosures in the above mentioned markets. This is because Alabama did not experience the false appreciation created by speculators and sub prime lending. We were not overbuilt. Therefore, we are not over supplied. Our markets are still relatively in balance.

So, are they a good deal and should I buy a foreclosure? There are always good opportunities in the market, whether it is a foreclosure or a traditionally marketed property. Most foreclosures, however, are not the great deal they are portrayed. The reason being is the properties are being foreclosed because the purchasers of the properties are walking away from the mortgages. The issue is not that these people can’t afford their mortgage payment. Instead, it is that their property is not worth what they paid for it, due to false appreciation and overbuilding. Example: A purchaser in California pays $500,000 for a house and borrows $550,000, which is another story. Three years ago, the same home sold for $250,000 causing 100% appreciation in just three years. That is false appreciation and is unsustainable. Over the years, sustainable appreciation is typically 10% or less per year. That being the case, the $250,000 house bought three years ago would realistically be worth no more than $325,000 today or $175,000 less than the mortgage amount. Note: Quarterly appreciation in Alabama for the last 17 years has been between 1% and 9%.

What the above example means is with the property being worth $325,000 or less, the purchaser feels it is a better decision to walk away. This allows them to work towards restoring their credit rating in only 2 or 3 years instead of taking many years and paying interest before the principal is reduced to the actual value of the property. The banks foreclose on the false value, leaving the prospective foreclosure purchaser thinking they have a bargain at $400,000. In fact, they have just overpaid by at least $75,000. Condition can also be a major problem in foreclosed properties as they are typically gutted and abused, creating additional expense.

The fact of the matter is, if you are a real bargain hunter, you are probably better off looking for a home that was purchased 10 or more years ago. A home that was purchased a decade or so ago, will have significant and real equity. Assuming the sellers are motivated, (i.e. death, divorce, job transfer, etc.), they can sell at a discounted price and still accomplish the goals set when deciding to sell the property.

The bottom line is: Do not fall for the term foreclosure. More times than others, a foreclosure is not the deal you think it is. In fact, it is just the opposite. Whether shopping for a foreclosed property or not, as a professional I can help you make good decisions. I am able to do a market analysis on any property to determine if it is fairly priced or over priced. We can help you negotiate the price and terms and navigate you through the confusing mortgage market. Contrary to media reports, mortgage money is plentiful and interest rates are extremely low. I will make an appointment for you to meet with a reliable and honest in-house mortgage banker. He will give you professional advice in helping you choose the best loan for your needs. We are proud to say that ERA Mortgage did not participate in sub-prime lending.
Should you have any questions about foreclosures or real estate in general, please feel free to contact me at staceym@era-king.com

Election Day Info..

2008-10-30T12:39:00.001-05:00

Since most of the buzz right now is about November 4. I thought I would most some important information. Here are links to see Alabama Sample Ballots, be prepared as lines are going to be long this election.

For Calhoun County:
http://www.sos.state.al.us/downloads/election/2008/general/sampleballots/Calhoun-2008-Sample.pdf

To find your county's sample ballot go to:
http://www.sos.state.al.us/Elections/2008/2008SampleBallots.aspx

A Balanced Market In Calhoun County

2008-10-14T10:45:00.003-05:00

As several of us wonder what is going to happen the way this economy is, I still want to let you know that we have it a lot better than a lot of areas in the country where collateral has been overvalued, resulting in foreclosures. Right now, our market isn't necessarily good but it isn't bad.. We will call it balanced. We can say this in Calhoun County because there are few foreclosures and values are in line. We did not have false appreciation created by irresponsible lenders and developers. We have had sustainable appreciation between 1%-9% in the past 17 years. We also do not have the same issues that started the problems in California, Florida and other high profile markets. However, even though our market is in balance we will still have to weather the credit issues like everyone else. Our local banks are always making intelligent loans to deserving people.

As a side note, people are still buying and selling houses in our area. ERA King finished September at 86 sold units which brings us to 752 for the year!!!

What do you feel about the market?

Important Links For Calhoun County

2008-10-06T11:15:00.000-05:00

Happy Monday!!

Below are links to websites that provide information whether you are a current resident of Calhoun County or if you are just relocating here. Hope this helps!

Calhoun County Chamber of Commerce

UTILITIES
Anniston Water Works and Sewer Board
Alabama Power
Alagasco
Cable
Directv

OFFICIAL CITY WEBSITES
City of Anniston
City of Oxford
City of Jacksonville
City of Piedmont
City of Weaver

LOCAL SCHOOLS
The Donoho School
Faith Christian School
Jacksonville City School System
Oxford City Schools
Piedmont City Schools
Anniston City Schools
Sacred Heart of Jesus Catholic School
Calhoun County Board of Education
Jacksonville State University
Gadsden State Community College

How is the market doing?....

2008-10-02T17:07:00.001-05:00

Welcome to my real estate blog! As a real estate professional in Southeast Alabama I would like to provide current clients, potential customers, and anyone who has asked the question, "I wonder how the market is doing?" information on what is actually going on with the market and weekly tips on home buying and selling. My goal is to post a new blog every week but in between if you have any thoughts, questions, or concerns about the real estate industry please feel free to email me at staceym@era-king.com or send a comment on the blog.