CNNMoney.com Reports Increase In New Home Sales

New homes sales increased, unexpectedly, in November according to CNNMoney.com. November sales did not compare to the to the red hot market of 2005, but came in 7 percent higher than July sales which were the lowest this year. It looks as though sales have bottomed out and are on the rise again. Read the full story...

Midtown Montgomery Housing Report

David Lereah, National Association of Realtors chief economist, said a fairly steady pace of home sales can be expected for the next two months. "It's important to focus on where the housing market is now - it appears to be stabilizing, and comparisons with an unsustainable boom mask the fact that home sales remain historically high - they'll stay that way through 2007." he said. "In addition, a temporary correction in prices distracts from the fact that it is primarily the number of homes sales that affects the economy, and the number for this year will be the third highest on record." How do local home sales stack up to this prediction?

The number of sold single family homes in Midtown Montgomery (Midtown consists of neighborhoods south of I-85 between Exits1 and 6) for November is down 11 percent compared to November 2005. The number of pending listings are, also, down by 29 percent. November 2005 saw market times of 115 days compared to this November's 85 days, a 26 percent decrease. A decrease in market times is very unusual in a slower market and is an indication the Midtown market will remain strong. The average sales price has decreased by $1,390 or 1 percent.

When thinking about selling your home, be sure to give us a call. We have the market knowledge and expertise needed to help you price your home correctly thus assuring a successful sale and putting the most money in your pocket.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

Interest Rates Continue To Fall

Freddie Mac's Primary Mortgage Market Survey reports the average interest rate on a 30-year fixed rate mortgage to be 6.08 percent for the week ending Dec. 7. This is down from the previous week's 6.14 percent and the lowest rate this year since mid-January.

"Continued signs of slowing in the housing market and weakness in the manufacturing sector helped keep mortgage rates down this week," said Frank Nothaft, Freddie Mac vice president and chief economist.

Is a new home on your wish list this holiday season? The falling interest rates can help make your wish a reality. Visit MontgomeryAlabamaHomeSearch to view all Montgomery real estate listings. And give us a call. We have the expertise, knowledge and experience to make your new home a reality!

Tips For Selling A Home In A Buyers Market

For the past few years, sellers have been in control of the real estate market, calling on the shots. All buyers could do is say, "How high?" With the current transition to a buyers market, homes are staying on the market longer and buyers have regained some of their negotiating power.

BankRate.com has a great article for seller's with tips on how to sell in a buyer's market. The tips include:
1. Prepare yourself mentally for what you're about to go through.
2. Get ready for picky buyers.
3. Educate yourself about your neighborhood's real estate market.
4. Hire an inspector.
5. Consider paying the buyer's discount points.

If you are thinking about selling your home, the article is worth a full read! Then visit my website or give me a call. I'm here to help with all your real estate needs.