Mark A. Crain

As noted in the Birmingham News (Hoover News section), the Bluff Park Chapel Lane Extension continues to gain momentum. Hoover, AL City Executive Director Allen Pate expects bidding to begin in June, 2011 after the Jefferson County Commission accepted the city's offer to purchase a county right of way May 3, 2011. After an infusion of federal stimulus money last year totaling $1.9 million, the project will provide direct roadway access to Patton Creek Shopping Center, the Riverchase Galleria and Interstate 459 for Bluff Park residents and other Hoover neighborhoods north of I-459. Currently, Bluff Park residents driving to these two highly desirable shopping communities have to either travel through the subdivision east bound and then travel south bound on Highway 31 which can be time-consuming. Alternatively, residents have to travel south on Sulphur Springs (Preserve Parkway) and then go east bound on traffic heavy John Hawkins Parkway (Hwy. 150). The only remaining roadblock for the project appears to be settled as the City of Hoover, AL has reached a verbal agreement with Jefferson County for a parcel of land just north and south of I-459 for certain required rights of way that had been holding up the project. The agreement needs to be approved and signed before the bidding process can begin however.

While the Bluff Park Chapel Lane Extension may not begin until late in 2011 and not be completed for 1-2 years after that, it should help to increase demand for Bluff Park in Hoover, AL on a longer term basis. As a result, this should help boost housing values in coming years as well. Centrally located in the heart of Hoover, AL and already one of the area's most affordable and desirable communities, the Bluff Park Chapel Lane Extension will be an added bonus given the convenience it will provide for shopping. For a list of homes, including photos and detailed descriptions, currently listed for sale in this area, click Bluff Park Listings.

Interested in buying or selling in Bluff Park or anywhere in the greater Birmingham, AL area? Visit markcrain.com and search MLS for any property currently listed in Birmingham according to whatever criteria you desire (e.g., # bedrooms, # baths, price, area). Please contact me at sold@markcrain.com if you need information regarding recent home sales or listings in your area to assist you in establishing a list price for your home.

View Larger Map

A new YMCA in Hoover AL at the former Bruno's site at the intersection of Highway 150 and South Shades Crest is scheduled to open November 1, 2011. This is a significant quality of life development for this community and is long overdue, especially for residents in Lake Cyrus subdivision who had to endure this past summer without a Swim & Tennis Club. With the nearest multi-purpose, full-featured fitness facility over 15 miles away, the new YMCA in Hoover AL should quickly build a large membership of residents from Lake Cyrus, Lake Crest, Russet Woods, Trace Crossings, Ross Bridge, Bluff Park and others.

With plans proposed for installation of a pool, the former Bruno's site is ideal for this purpose as it is located on 10 acres with over 53,000 square feet of quality building space. With many communities struggling to keep smaller, less-featured neighborhood clubs afloat in the midst of the economic downturn, locating a new YMCA in Hoover AL will provide a quality brand catering to families and their children and promoting fitness and fellowship for area residents. The Hoover Planning and Zoning Commission approved the plans at its December 13, 2010 meeting and the request also subsequently received final approval by the Hoover City Council. The facility will begin accepting memberships in early this summer.

I suspect that residents, if given the choice, would elect to join the YMCA in Hoover AL in lieu of joining a summer swim club such as the Lake Cyrus Swim & Tennis Club (assuming it reopens). As such, the financial viability of these types of smaller swim and fitness centers could be adversely impacted as many may not be able to afford both (i.e., two memberships). Of course, that decision depends on the quality of the new YMCA and what is has to offer. The smaller, neighborhood clubs likely will be forced into some sort of niche market (e.g., Tennis & Racquet, event promotion, etc...).

While demand for housing in this area is not likely to be greatly impacted by the new YMCA, it is certainly a selling point for those looking to buy or sell in the area. To search for homes in this area or anywhere in the metro-Hoover (or Birmingham) area, click markcrain.com or email me at sold@markcrain.com.

View Larger Map

October numbers are still being finalized but the Birmingham AL MLS market is again down from the prior year 31% (or more) and down 17% (minimum) from September. Sales dropped a little more than I projected last month but are not doomsday relative to what we've been experiencing over the past 90-120 days. Months of inventory appears headed higher once again as the number of new listings continues to outpace (1) sales, (2) withdrawals and (3) cancellations on a combined basis. With year-to-date sales (units) for 2010 now down 5-6% for the Birmingham MLS market, the focus for realtors in the last two months of the year will be to (1) capture as many fence-sitting buyers for contracts and (2) work with sellers to maximize exposure and emphasize value.

For potential buyers, especially first time homebuyers, the economics of buying a home are extremely favorable in light of ridiculously low mortgage rates and bargain basement prices. Rates will likely rise over the course of the next 18 months as the elections have passed and the political climate settles. A 1% increase in rate reduces affordability by about $25,000. Coupled with the potential for a nice tax deduction (for those itemizing) and significant equity accumulation in 3-5 years, now is a great time to buy.

For sellers and potential sellers, the inventory of homes is great with lots of choices in virtually all price ranges. The months inventory of homes is now at the highest level of the year. Consider that at current sales levels, it would take roughly 16 months for all the homes on the market to be absorbed assuming no new homes come on the market. Homes that are move-in ready, staged properly (less is more) and priced aggressively will move much more quickly than homes that are not updated and priced at the high end of the range for your neighborhood. As a seller's agent, I negotiate assertively and in my client's best interest but the economics tend to work out much better if the home is a great VALUE. Currently, homes in the Birmingham MLS market are listed for about 134 days before going under contract; from the contract date to closing usually averages another 30 days. As such, a reasonable expectation for your home from the date it is put on the market to closing (i.e., money changes hands and title transfers) is about 164 days or about 5 ½ months! For homes priced above $300,000, it is longer as there is a smaller pool of buyers looking at homes (about 7 months from contract to close). With that much time from market to close, getting needed repairs and updates done quickly can position you to close sooner rather than later (if you are eager to selll).

For a free market snapshot of listing and sales activity in your hyper-local area, email me at sold@markcrain.com. To search all homes in the Birmingham AL MLS, visit markcrain.com.

Lake Forest subdivision in Maylene AL is quality development in Shelby County about 20 miles south of greater Birmingham. The nice lake with pavillion (and ducks), children's playground and walking track add to the quality infrastructure and overall appeal of the neighborhood. With quality Shelby County schools, this is a wonderful community for raising a family.

The table at left shows some key statistics for Lake Forest based on tax records. With large lots, mature and well-maintained landscaping and common areas, this community is highly desirable for those interested in buying in the Alabaster / Maylene area. With relatively easy access to Highways 119 and 31 and I-65, Alabaster / Maylene is bordered to the north by Helena and Pelham, two other high growth areas in Shelby County.

To search for homes currently listed and available for sale in Lake Forest, click Lake Forest active. To search all homes available for sale in the greater Birmingham area, just click Birmingham MLS and type in your own criteria (location, price range, etc....). For a free market snapshot delivered straight to your inbox of homes currently on the market in your hyper-local area, send me a message to sold@markcrain.com.

The City of Hoover AL published its leaf collection schedule so take advantage of this free service to save time and promote a green community. You don't even have to bag the leaves, just put them out by the curb the day before pickup and a truck with a huge vacuum will come and collect them for you. Here are a couple of things to know about the Hoover AL leaf collection schedule pickups:

• Pickup dates are by zone and there are 6 zones in the metro Hoover area.
• No twigs, branches, rocks, bricks, etc...
• Place leaves within 4 feet of the curb or asphalt.

Hoover leaf collection is done at varying times from November 1st through March 18th.

Raking up your leaves and tidying up your yard is just one part of keeping your home is excellent showing condition when your home Hoover home (or your neighbor's) is on the market. With inventory levels remaining very high, buyers have lots to choose from in virtually every price range. With your lot and landscaping making the first impression (and you know what they say about first impressions), it is important to keep everything tidy and groomed on the outside. Being in the fall with winter on the way presents challenges in that regard. To search for homes in Birmingham, click markcrain.com. If you want information on homes listed or sold in your neighborhood, email me at sold@markcrain.com and I'll send you my free, hyper-local market report.