Posts from September 2020
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28
August 2020 Alabama Gulf Coast real estate stats
Alabama's Gulf Coast contains several real estate markets depending on location and price point – just to name a few factors. The graphic below shows real estate statistics for August 2020, the latest month available.
Vital Signs provides a visual representation of what's happening in several local markets by showing you supply. The colored-coded numbers represent the absorption rate, the number of months it would take to sell every home on the market in a particular price range if no others were added. If the market is moving quickly, the absorption rate will fall below six months of supply, and if it's more of a buyer's market, it will jump above six months of supp...
21
Post-hurricane recovery tips
At the June 1 start of this year's Atlantic hurricane season, the National Oceanic and Atmospheric Administration's Climate Prediction Center predicted a 60 percent chance of an above-normal season, a 30 percent chance of a near-normal season and only a 10 percent chance of a below-normal season. The prediction included three to six major hurricanes (category 3 or higher) with a 70 percent confidence. While Hurricane Sally would not have been considered a major hurricane by those standards, Alabama's Gulf Coast and the Florida Panhandle are still reeling from its impacts: flooding, downed trees, downed powered lines resulting in widespread power loss, and streets and yards littered with debris.
14
Should you stay in your home longer?
It's no secret that the Gulf Coast real estate market has seen an uptick in the past few months due to pent up demand from COVID-19 coupled with historically low interest rates. But a lesser known factor is also affecting our current real estate boom: low inventory due to people selling their homes less frequently.
According to the National Association of REALTORS®, the median amount of time U.S. homeowners stay in one place is 13 years, up by three years since 2008. While the reasons behind that increase vary by market – and sometimes vary within price points in the same area – increasing home price...
8
Real estate adapts to social distancing guidelines
Even in the midst of uncertainties surrounding COVID-19, our local real estate market is experiencing one of the best seller's markets in decades. People are still moving, whether it be across town or across the country. Handling the buying or selling process isn't especially easy in the midst of a pandemic. Your best bet is having someone there to answer your questions, and that's where a REALTOR® comes in. While she won't be able to tell you which box your favorite set of bowls is in, a REALTOR® will have the contacts and experience needed to help make your move smoother and safer.
The real estate industry is adapting its processes for buying and selling homes, allowing you to social d...
3
3 reasons why now is a great time to sell
If you're considering selling your home in the next few years, now might be the best opportunity you're going to see anytime soon. Thanks to a culmination of several factors Alabama's Gulf Coast is seeing one of the strongest seller's markets our area has ever seen.
What does that mean for you as a potential seller? It puts you in control of negotiations.
While there are several reasons why now is an excellent time to sell your home, below are three of the main reasons you may want to go ahead and make your next move, even if it's sooner than expected.
1. Low supply and high demand have caused an increase in home prices.
The combination of delayed sales due to CO...
