Hoover, AL

As your Hoover AL Realtor, I want to give a brief overview of why I'm your best choice as agent in this area. You see, I don't believe that because you may have a brother or mother in the real estate business "obligates" you to USE someone in this business. While I also work for buyers and sellers in other parts of the greater Birmingham metro area, as a Hoover AL Realtor, not only do I live here and work here, my wife works here, my kids go to school and play sports here and I shop here to name some MINOR reasons to consider me. I say MINOR because that simply isn't enough. Just knowing somebody or knowing somebody that lives in an area and seems likable is a poor reason unless they can really help you execute a great real estate deal!

Your main reason for selecting me as your Hoover AL Realtor is how can I help you achieve (or at least maintain) wealth on your next transaction! In my opinion, there are two main ingredients. First, how much do I know? Second, how hard am I going to work to get the results you need? On the first item, there are a number of skills and disciplines involved in being a skilled agent. It starts with the consistent and effective use of technology. As your Hoover AL Realtor, I use automated tools and technology daily in everything that I do! I set up automated searches for my clients that are emailed AUTOMATICALLY either daily, weekly or monthly whether you are buying or selling so that you have the most up-to-date information available AND YOU DON'T MISS OUT on a great opportunity! I check my email and texts throughout the day. I use a GPS to minimize time on the road. I search and cross match tax records to MLS listed properties. I am proficient in using various software packages such as Word, Outlook and Excel in performing various types of marketiing, prospecting or analytical type work. You can find me on Facebook, Linkedin and Twitter. Take a look at my website at www.markcrain.com and you can see that my site contains free searches for foreclosed properties and the ability to search for any home in the greater Birmingham MLS. By the way, did I mention I spent over seven years in the mortgage business and am a licensed CPA? Given the impact financing has on most real estate transactions, I believe this gives me a serious advantage in avoiding traps and understanding the impact of certain decisions to be the best Hoover AL Realtor (e.g., think twice about renting out your existing home instead of selling if you want to qualify on a new mortgage)

Okay, so don't get the idea that I'm all analytics. My favorite part of being a realtor is working with people but that doesn't start until some of the research and analytics has been completed. As your Hoover AL Realtor I want to give you objective, factually-based information that is real and helps you get you where you need to be as quickly as possible with little or no wasted time. It sounds easy and pretty straight-forward but there are still plenty of people out there (not just real estate agents) that are simply "pleasers" and take the path of least resistance to appear to make someone like them or to get along (or go along) but when it is all said and done, at the end of the day, it is about execution of a deal (A CLOSING). I take no pleasure in getting a listing for example just to have a house on the market. I want to SELL IT. I always do my best to communicate things professionally, empathetically and with as much skill and care as possible but my job is to provide guidance, educate and sometimes that means telling you what you need to hear and not what you want to hear.

So how hard will I work for you? I think I explained enough about my approach above to say that as your Hoover AL Realtor I am willing to do whatever it takes to get you the best possible deal (whether buying or selling) by proactively working with you, on your schedule. I will meet with, discuss (in person, via cell phone, text, email or whatever) and work through issues intelligently and timely to meet your needs. It starts from the beginning and doesn't stop until after closing. Even then, I want to make sure we continue to have a dialog because I want your future business and referrals to be THE Hoover AL Realtor now, in the future and someone you can recommend to others! My challenge to you in selecting a realtor is ASK A LOT OF GOOD QUESTIONS.

In summary, as your Hoover AL Realtor my approach is very well thought out from beginning to end. Once we get going, the foundation is set and I believe that it sets up nicely for a profitable relationship for you irrespective of whether your are buying or selling (hopefully both!). Feel free to contact me at sold@markcrain.com so that we can discuss how I might help you maximize the financial benefits of your real estate goals / situation. Or call me direct at 205-919-3821.

Home Buyer Tax Credit - Who Can Qualify

I've spoken to several people lately about the Home Buyer Tax Credit. Most people think it is ONLY for first time home buyers, and that WAS the case up until 11/6/2009 when they expanded it to include people who currently own a house and want a new one.

A Tax Credit of up to $6500 is available for homeowners who have owned and resided in a home for 5 consecutive years out of the last eight. This repeat buyer Tax Credit is good if you buy a new house by 4/30/2010 (if the new house is under contract by 4/30/2010, you 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, if you have lived in your current house for the last 5 years, you qualify for the Tax Credit. You can buy the new house by April 30 without selling the house you are currently in. You can buy a more expensive house or a less expensive one - it is up to you. As I mentioned in my January Newsletter, You DO NOT have to buy a more expensive home.

Also, if you changed cities for job purposes or whatever, and are renting out the old house until it sells, you can qualify to buy a new house as long you moved within the last 3 years AND you lived there for 5 consecutive years before you moved.

If you sold your house within the last 3 years (and lived there 5 years before you sold it) and didn't net enough money to buy a new one and decided to rent for a while to save money for a down payment, then NOW is the time to buy a new house.

If you sold your house within the last 3 years and lived in the old one for 5 years prior to that and had credit issues that kept you from getting a new home after selling the old one, then you might want to talk to a lender and see if you can qualify for a new home now. Credit standards are tighter than they were, but a year or two can make a big difference if you've been working to improve your credit.

If you are one of those lucky people who gets transferred every two-three years and buys and sells a house - you are out of luck. If you bought a house 4 years ago and want to buy a new house now, that is wonderful, but you will not be able to get the tax credit.

If you haven't owned a house at all in the last 3 years, you can qualify for the first time home buyers tax credit which is even better because it is 10% of the purchase price of the property up to $8,000 instead of $6,500.

If you've recently gotten married - read the rules. Both of you have to meet the test in order to collect the credit.

If you'd like to know more about the Home Buyer Tax Credits, there is good information on the National Homebuilder's website.

So, prices in Birmingham Alabama are EXCELLENT, and with the prospect of a little extra money in your pocket to do a little remodeling on that new home, you might be thinking it is time to start looking around at what is available. You can begin your home search on my website, where you'll find all the houses for sale in the greater Birmingham area. Remember, you MUST be under contract on the new house by 4/30/10. When you see something you like, let me help you buy the home of your dreams. I can be reached at Toni@ToniBird.com

An Entertaining Little Guy Was Outside My Window.....

I got to my office bright and early Friday so I could check emails and spend a little time on ActiveRain and Facebook before settling in to make some phone calls later in the morning. Sitting at my desk I have a great view of all that is going on outside. This busy little squirrel was a lot of fun to watch as he dug for nuts and enjoyed some playtime and breakfast.

I took these pictures through a dirty window, and think most of them turned out pretty decent anyway. Since I had to move the blinds to take pictures, he heard me and seemed nervous at first and would run up the tree, but he seemed to get used to me after a while. Maybe he will come back and visit next week!

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

Photos taken by Ann Allen, and may not be reproduced without express written permission of Ann Allen, Keller Williams Realty, Hoover AL. Please check if Creative Commons License as been granted for this or other photography provided by Ann Allen. Permission usually granted if credit is given with a link back. Thank you for your understanding.

This Lake Cyrus real estate market report is a continuation in a series of blogs about the performance of some of the larger neighborhoods in Hoover, AL to assist buyers and sellers in assessing their negotiating position. I should disclose that I am a resident of this neighborhood and have lived here for the past three years. Let's take a look at sales and inventory history for the last three months of 2009 in comparison to the same period in 2008 by referring to the chart below:

As shown in the chart at left, improvements in sales (both units and volume) and average days on market would suggest a relatively strong neighborhood relative to supply and demand. However, there is weakness in the average list and sale prices and, while pretty strong in December, months inventory appears a little problematic. Now take a look at the chart below / right:

What the chart are right shows is that homes currently listed (i.e., have not yet sold) are (1) priced higher and (2) have been on (and stay on) the market longer. It also shows that new construction, which in Lake Cyrus has predominantly (if not EXCLUSIVELY) been homes less than $275,000, is selling at a much healthier clip and much quicker than resales. Simply put, builders are catering to demand by building homes in a price range that meets the market's desires. Put another way, whereas 3-4 years ago, there were plenty of recently-constructed, luxury homes with larger lots, there are now only resales (i.e., not new) in this category. Buyers are buying smaller homes with smaller lots and builders are accomodating demand. Meanwhile, resales, especially resales of homes priced greater than $300,000 are taking longer to sell.

What does this mean for buyers? This Lake Cyrus real estate market report suggests that this is clearly a buyers market, even more so than the rest of Hoover in general (in my humble opinion). As such, it is a great buying opportunity as homes can be purchased for prices well below values seen just a few years ago. For sellers, it means that the focus on (1) proper staging and (2) aggressive pricing are even more critical than the rest of the Hoover market. For sellers that may have purchased their home in the past 1-3 years that NEED to sell and may be facing financial difficulties, they may be looking at a short-sale scenario.

If you need information on a different market or neighborhood or would like a CMA (comparative market analysis) on your home, please email me at sold@markcrain.com and I will gladly provide the information you may need to properly, objectively and intelligently assess your options and situation at no upfront cost or obligation to you.

Home Sales - Hoover Alabama

Hoover, Alabama - had lots to cheer about as the Hoover High football team took the 6A State Championship in December 2009. And, that same weekend we got a dusting of SNOW!!

What was the Real Estate market like in December 2009? Well with all that football, snow, and shopping for Christmas, home sales were a little on the slow side. There were 63 homes that SOLD in December 2009. This was down from the 91 that sold in November, but above the 51 that sold in December of 2008. The average sales price of Sold Homes was $260,694 with homes selling for an average of 97.60% of list. Prices ranged from $107,000 for a townhome in Ridge Park - off of Rocky Ridge Rd, to $629,900 for a 5 Bedroom 3.5 Bath on Grand Avenue in Ross Bridge. Nine sales were townhomes or condos, 8 homes sold in Trace Crossings, 8 sold in Lake Cyrus and 10 sold in Ross Bridge. Sold homes were on the market an average of 131 days.

How did 2009 compare with 2008?

988 homes SOLD in 2009 vs 1071 in 2008

Total Dollar Volume in 2009 was $258,662,297 vs $299,374,202 in 2008

Average Sales Price was $261,803 in 2009 vs 279,527 in 2008

Median price was 241,555 in 2009 vs 253,000 in 2008

Average Days on Market for Sold Homes was 105 in 2009 vs 72 in 2008

Numbers for 2009 were down from 2008, however, if we look at monthly sales for the last 3 months of the year, we'll see, more homes sold in the 4^th quarter of 2009 than the 4^th qtr of 2008 - this means, things are picking up. Pending Sales numbers are strong and I expect January numbers to look much better than Januarry of '09.

October 2008 - 58 October 2009 - 81

November 2008 - 33 November 2009 - 91

December 2008 - 51 December 2009 - 63

If you would like to see what is available for sale in Hoover, Alabama, click on my website. By checking Hoover under "Location" you can see everything Hoover has to offer.