About Shelby County, AL

Sold Homes Helena Alabama January 2010

What is the real estate market like in Helena Alabama? We saw that 15 homes sold in Helena during January. This was down slightly from the 18 that sold in December and up one from the 14 that sold in January '09. Prices ranged from $65,225 for a 3 Bedroom 1 Bath home on HWY 13 that was a foreclosure to $327,000 for a 4 Bedroom 3 Bath home in Riverwoods. Three homes were new construction. Seven were foreclosed properties. All properties were single family detached houses - no townhomes sold in January.

The average sale price was $182,318 and the median price was $160,952. Homes Sold for an average of 97.06% of list. This was the highest list to sale ratio since August and very strong compared to other parts of the city. So the next time someone says you should bid LOW on a property - you can say NOT in Helena Alabama because the sold homes are going for 3% below list - not 20%!

Inventory remains consistent with 221 properties on the market as of today. Given the 15 homes sold in January, this reflects a fourteen month supply of homes. Homes range in price from 93,700 for a townhome in Rocky Ridge to $995,000 for an estate on 7 acres on the Cahaba River. Wow, what a property located in Environs Park.

Thinking about Buying A Home in Helena, Alabama? Begin your search on the web at my website. You can see all available listings in the Birmingham area. Scroll down until you see Helena under Location. Or check out another part of town - all other homes in the Birmingham area can also be found here. If you see a home that interests you, let me know. As a realtor in Birmingham, I can make an appointment and show you any home. When you are ready give me a call.

Birmingham AL real estate sales & inventory trends through January, 2010 were a disappointment when viewed in relation to the perceived momentum of November and December of 2009. As realtors, we had viewed the positive signs of increased sales and lower inventories as reason for optimism moving into the new year but January's preliminary figures continue to support the notion that this is clearly still a buyer's market with plenty of inventory to choose from in virtually all price ranges. Take a look at this graphical depiction of months inventory over the past 15 months:

Months inventory is a measure of the balance of supply and demand for housing. It is calculated as units of inventory (# of homes on the market) divided by the units sold. The graphic shows the raw months inventory as well as the 90 day moving average. The trend line for both measures is upward for January, 2010 which suggest excess supply. The 90 day average is very similar to 2009 but the raw data is higher than the prior year. Birmingham AL real estate sales & inventory trends suggest that this is still very clearly a buyers market with excess inventory in relation to sales. In short, there is an imbalance with regard to supply and demand. Take a look at the raw data below, which is the basis for the chart above:

Clearly, January is one of the weakest months during the year as real estate follows a very predictable cycle. Having said that, Birmingham AL real estate sales & inventory trends during November and December suggested a skewing of the cycle, presumably due to the effects of the federal tax credit. Given the strength of November and December, the hope was that momentum would carry into the new year. There are still some other signs that this could hold true but January's numbers are a sign in the opposite direction. For example, the Mortgage Bankers Association reported last week that mortgage applications had risen 21% over the previous week to climb back to levels in December. For the complete article, please go to MBA. It is really too early to tell whether January's weak numbers suggest a trend and the hope is certainly that volumes will increase in the months ahead as we approach the April 30th expiration of the federal tax credits. For more on the federal tax credit, go to tax guide.

In summary, what all this means is that buyers continue to have a large selection of inventory and a strong negotiating position. For sellers, it means that you should price aggressively (or at least realistically) and stage your home for the best possible showing experience for potential buyers. Homes in tip top condition, staged properly and priced right will still sell, even in this buyers market. Please contact me via email at sold@markcrain.com or via my cell phone at 205-919-3821 for information about properties that are listed or sold in your area or if you have questions about an appropriate listing price for your home. I can email properties that meet your criteria directly to your inbox automatically on a daily, weekly or monthly basis to help you assess the market from a buyer or seller standpoint.

All Aboard!

THOMAS THE TANK ENGINE is Coming to the HEART OF DIXIE RAILROAD MUSEM in Calera AL!

Ticket are on sale now for A DAY OUT WITH THOMAS!

Take your family to the Heart of Dixie Railroad Museum and enjoy a 25 minute ride on a full size Thomas the Tank Engine. That's not all.....you will meet Sir Topham Hatt, there will be storytelling and videos, and an Imagination Station with arts and crafts, and other entertainment too!

A DAY OUT WITH THOMAS

The Celebration Tour 2010

Friday, April 9th

Saturdays, April 10th and 17th

Sundays, April 11th and 18th

Click this link for more information and departure times

Tickets are $18 for ages 2 and up

Advance ticket purchase is recommended and group rates are available

Other special events during the year are the Cottontail Express, Steam Days, Pumpkin Patch Express and The Polar Express. Train rides are available throughout the year, and you can also plan a railroad birthday party or enjoy dinner aboard the William Penn, a refurbished dining car. Rides for schools, churches or other groups can be made by special arrangement. Call the museum for more information at 205.668.3435 or 800.943.4490.

Heart of Dixie Railroad Museum

1919 9th Street

Calera AL 35040

(click above for a map to the museum)

Public comments are disabled on this blog to prevent spam. I would love to hear from you.....please call or email me!

Courtesy of Ann Allen, e-PRO®, SRES, ASP

205.902.4868

Keller Williams

One Chase Corporation Drive, Suite 150

Hoover, AL 35244

© 2010 Ann Allen, All rights reserved

Can You Buy A Foreclosure AND Use the Homebuyer Tax Credit?

You hear all about the great deals people are getting on foreclosed homes lately. There are several on the market. The home on the left is for sale in Pelham, Alabama. THIS ONE is a Great Buy at $299,900. Some are good deals and others are a nightmare. Remember, foreclosed homes - which are homes that have been taken away from people who bought them and then didn't pay for them are sold AS IS. Most are sold by banks and they just won't do repairs - that is why you get such a good price.

Many foreclosed homes are purchased by investors who fix them up to sell. Since they don't meet the rules for the Home Buyers Tax Credit, they would not get the credit. But, anyone who meets the home ownership/occupancy rules can certainly take the credit.

If the investor buys the home first, and fixes it up, then turns around and sells it to YOU, then you can take the Home Buyer Tax Credit - as long and you meet the other ownership rules.

What are the ownership rules you say!!

First off, you need to live in the house for at least 3 years or you will have to pay the credit back.

Next there are 2 types of Home Buyer Tax Credits, either one will work with a foreclosed home.

#1 A tax credit of 10% of the purchase price of the home up to $8000 is available for first time home buyers who buy a home between 1/1/2009 and 4/30/2010 (if a home purchase is under contract by 4/30/2010 the buyer has until 6/30/2010 to close). A First Time Home Buyer is defined as someone who hasn't owned a home in the last 3 years.

#2 A Tax Credit of 10% of the purchase price of the home up to $6500 is available for repeat homeowners who have owned and resided in a home for 5 consecutive years out of the last eight. This repeat Home Buyer Tax Credit applies to home sales between 11/6/2009 to 4/30/2010 (if a purchase is under contract by 4/30/2010 they have until 6/30/2010 to close). If you own more than one house when you buy the new house you don't qualify.

So, there are lots of foreclosed homes out there to choose from (like the home on the right which is listed for $145,000) AND the Home Buyer Tax Credit is YOURS if you qualify. You apply fo the tax credit when you file your tax return - no up front application. Just make sure you meet the requirements of the program and BUY that foreclosure BEFORE April 30, 2010.

Both of the homes you see here are foreclosed homes and are move in ready. Click on the picture of the front of the house for additional pictures. If you would like to look at these or any other foreclosed home, let me know at Toni@ToniBird.com.

Fundraisers To Benefit The Family of Pelham Police Officer Philip Davis

The Pelham community has done a wonderful job of coming together to provide support for Officer Davis' family. Killed December 4, 2009 while performing a routine traffic stop, he leaves behind a wife and two small children.

There are a number of ways you too can help this family.....

Donations may be made online to the Philip Davis Fund which has been set up at America's First Federal Credit Union. You may also make donations at any of their branch offices.

M&F Bank is also accepting donations at their local branches for a Mortgage Retirement Fund.

Upcoming Fundraising Events:

• A Dance Party with a DJ and Raffle is being hosted by Cherub's Club House on Valentines Day, February 14th. Tickets are $20 to attend and raffle tickets will be six for $5.

• The following Saturday, February 20th, be sure to take your family and all your friends out to eat at Zaxby's. Zaxby's will be donating 10% of the sales they have that day to the Mortgage Retirement Fund. The family will also receive a restaurant gift card for the same amount.

• The Blue Light Comedy Tour is planning a benefit performance for the Davis family. Details will be posted on their website (click on the link above) as they become available.

A great big THANK YOU to everyone who has already given of their time and money to help the Davis family. Here are some of the other businesses and groups that have already reached out to help....

• Applebees
• Chick-fil-a
• Cozumel Grill
• Domino's Pizza
• Golden Corral
• Hooters
• Johnny Ray's
  
• Margarita Grill
• McAllisters
• Nino's Italian Restaurant
• Oak Mountain Lanes
• Sarah's Flowers
• Sarris' Cafe
• Sons of Doom
• Texas Roadhouse
• Whatburger
  

There are many more people not listed here, in Pelham and other communities that have showed their generosity and love to the Davis family........you are all appreciated!

Public comments are disabled on this blog to prevent spam. I would love to hear from you.....please call or email me!

Courtesy of Ann Allen, e-PRO®, SRES, ASP

205.902.4868

Keller Williams

One Chase Corporation Drive, Suite 150

Hoover, AL 35244

© 2010 Ann Allen, All rights reserved