Alabama home sales drop 4 percent in August

This State home sales dropped in August by more than 4 percent compared to the previous month and by more than 8.5 percent compared to August 2006, but is still below the national average, said the University of Alabama Center for Real Estate.

ACRE reported that a total of 5,300 homes sold in the state last month, compared to 5,527 in July and 5,800 in August 2006.

In a news release, the center said it was not surprised by the drop, as home buyers become more cautious and wary to national news of the credit crunch, foreclosures and the volatile stock market.

Average prices dropped a fraction to $163,041 in the state last month, compared to $164,165 in July, but up from $161,114 in August of last year.

Average days on the market last month was 118, compared to 116 the previous month and 105 in the same month last year.

The total number of homes listed decreased to 43,790 from 44,454 in July, but increased by more than 23 percent to 35,375 in August 2006. Year-to-date, total homes listed rose by more than 25 percent.
Birmingham Business Journal - by Lauren B. Cooper Staff

 

New Community Information Pages for Cities and Towns in and Around Huntsville and Madison County

Owning a house has many advantages. An excellent new resource for choosing the right neighborhood are the new community pages for cities and towns in and around Huntsville and Madison County Alabama can be found at www.MoveToHuntsville.com. Don't Just Buy a House - Make a Home in Huntsville, Alabama.

Making a home is having all of those advantages in a place where families are safe and comfortable - in a community they enjoy being a part of. In Huntsville, this connection is not only with friends and neighbors, but is also developed with the museums, educational facilities, cultural and outdoor activities. Couple these features with affordable housing and a low cost of living, and residents have a unique environment that allows families to prosper in Huntsville, Alabama. Real estate has experienced an amazing expansion with some of the most desirable home listings in America.

the South's newest economic development rock star The Huntsville real estate market offers the opportunity to own a home in a community that's consistently named as one of the best places to live and work. Called "The Jewel of the Sunbelt" by BizJournals, Huntsville is named in Sperling's Best Places as one of the 10 best with low cost of living and good job prospects. Huntsville is also called "the South's newest economic development rock star" in an article in Southern Business and Development.

Economic stability is a necessary part of any good community. Huntsville's unemployment rate is 2.5%, far below the national average of 4.5% (as of November 2006). In fact, 44.3% of the employment is in management, professional and related occupations. Known as the "Space Capital of America," Huntsville's business development is made up of companies like NASA's Marshall Space Flight Center, Boeing, Lockheed Martin, Direct TV, the Army's Redstone Arsenal, and Cummings Research Park. These companies and others anticipate 4,000 new jobs thanks to the Department of Defense's implementation of BRAC. In addition, the Hudson-Alpha Institute of Biotechnology has a projected 1,000 new jobs expected in Huntsville. Real estate agents will tell you that, along with promising job prospects, good schools are a priority in the home-buying decision.

Alabama has not only increased the number of school days per year from 175 to 180, but has also dedicated an additional $80 million to increase teachers' and other school employees' salaries. This devotion to education is why 31% of Huntsville's adults hold bachelor's degrees, making it one of the top six areas in higher education. Not only are there employment options and educational advancement available in Huntsville, the city is beautiful, in the midst of a lush, green, mountainous region.

Huntsville's temperate climate, in a gorgeous setting, allows year-round golfing, water sports, and activities for every enthusiast. The city's commitment to environmental excellence is why Huntsville was ranked by The Green Guides as one of the top 10 "Green Cities" in the U.S. Huntsville contains more than 36,000 acres of natural space available for recreation, giving residents even more pleasure with their beautiful homes in Huntsville. Real estate agents in this town are quick to point out that available homes are suited to all lifestyles, from acres of wooded areas to condominiums in downtown Huntsville.

In a community close enough for neighborhood barbecues; yet diverse enough to contain business and cultural opportunities, true quality of life is possible when buying a home in Huntsville, Alabama. Real estate here offers exceptional value, combined with some of the lowest property taxes in the country, giving residents the most for their money, when they are ready to buy. This year consider Huntsville where residents can own a home, not just a house.

Visit the new community pages for cities and towns in and around Huntsville and Madison County at www.MoveToHuntsville.com  . There are lots of photos from around town and links to area real estate.

For additional information or media interviews, please contact Mike Manosky at (256) 508-0211 or via email Mike @ MoveToHuntsville.com .  

Mobile Real Estate Sales - June 24, 2007

Local investors paid $2.3 million for the 60-room Home Away Lodge at 3025 W. 1st St. in Gulf Shores, according to one of the buyers, Todd Drummond of The Drum mond Group in Mobile. The motel will be renovated and converted to a Country Hearth Inn , he said.

Investors from Jackson, Ala., purchased The Oaks of Tillman's Corner, a retail center with 17 tenants at Three Notch and Old Pascagoula roads, for more than $1.3 million, according to court records.

A Hardee's franchise owner has leased the former Bur ger King store at 565 Government St., across from Barton Academy, and plans to open the fast-food restaurant in three months, according to M.J. Baxter of Baxter & Associates.

Wachovia Bank plans to open a 4,200-square-foot branch office at Spanish Fort Town Center off Interstate 10 near U.S. 90/98 in Spanish Fort in October 2008, according to Josh Burmeister of Staubach Retail in Mobile.

An Atlanta developer plans to build 240 apartment units on 20 acres he has under contract on U.S. 31 in Spanish Fort, north of the Eastern Shore Centre , according to David Morris and Joe Court ney of Courtney & Morris . The sale should close and construction start in late July on The Vinings at Malbis Plantation , Morris said.

The American Red Cross national headquarters has a contract to purchase a former movie theater site on 3.2 acres on Sage Avenue off Dauphin Street, according to Marl Cummings III of Cum mings & Associates . The national office plans to build a 30,000-square-foot emergency operations center for the Alabama Gulf Coast Chapter of the Red Cross, according to Paula Tillman, a spokesman for the local office.

Trini Bryant Interiors purchased a 2,500-square-foot building at 107 N. Florida St., near Old Shell Road, for $189,000, and will move in after renovations are complete, according to Cher Coo per-Lynch of Saad & Vallas Realty Group .

Local investors paid $332,500 for a 6,000-square-foot building on 1.7 acres at 5700 Willis Road near I-10 in Theodore, according to David Cooper of Prudential Cooper & Co .'s commercial division.

Black Classics Books & Gifts will relocate in early July from Airport Boulevard to a larger, 3,300-square-foot space on Sage Avenue at Emogene Street, according to store owner Adline Clarke. Tommy Gleason of Gleason & Associates handled the lease.

Iron Works Gym has relocated to 7,000 square feet of leased space at 4714 Moffett Road, according to Gavin Bender Jr. of Bender Real Estate Group.

Discover Rental Purchase has leased an 8,000-square-foot building at Moffett Road and Western Drive, according to Brendia Reeves of Thomas Tyner Re alty , who worked for the furniture store. Ronnie Johnson of The Mitchell Company represented the landlord.

A 6,000-square-foot, five-bedroom house, built by Brad Lewis in Isle of Palms on Sollie Road in west Mobile, sold to a local couple for more than $1.1 million, according to Henry Darnell of Darnell & Associates , who worked for the builder. A 3,800-square-foot house and a guest house on 100 front feet on Mobile Bay, south of Bailey's Creek in Point Clear, was purchased by out-of-towners for $1.42 million, according to Mary Cane of Courtney & Morris, who represented the sellers. Morgan Ashurst of REMAX By The Bay worked for the buyers.
http://www.al.com

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