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Alabama residential sales in September increase 11%; 76% of local markets experience YOY sales gain!!

By | Ashley

As Reported by Alabama Center for Real Estate (ACRE)

Published: Friday, October 24, 2014, 10:48 AM     Updated: Friday, October 24, 2014, 10:53 AM

This is super news for our State. Please enjoy this read and call me for all of your Real Estate needs. Team Ashley looks forward to working for you!

Alabama residential sales totaled 3,957 units in September, an increase in sales growth of 11.1 percent from the same period a year earlier and 201 units above of our monthly forecast. September joins June and July as the only months in 2014 where sales have eclipsed last year. Nationally, sales were off 1.7 percent in September from the prior year. See more details of how Alabama compares to the broader US market here.

The YTD Alabama sales forecast through September projected 35,170 closed transactions while the actual sales were 34,169 units, a 2.8 percent cumulative variance. YTD sales through September have been sluggish in most markets across the State but remain 2.4 percent above the 2013. Sales were up 3.3 percent in the third quarter compared to 2013.

Across Alabama, 76 percent of local markets reported positive sales growth compared to last September. In comparison, this figure was 64 in August and 48 percent in July. This figure also remains at 54 percent when taking into account total YTD sales compared to 2013.

Pricing: While the return of more consistent year-over-year sales gains is encouraging news, the lead story in 2014 relates to pricing. The Center shared in earlier reports that pricing represents the primary indicator that still had the greatest upside in the future. At least through September, this has come to fruition as the YTD median sales price is up in 19 of 25 or 76 percent of local markets. While this is good news for the market, as prices increase, sales (the typical lead story) attributable to investors bargain hunting will diminish the ability of this “buyer profile” to push the sales needle in the future. Distressed sales continue to significantly diminish as a percentage of total sales across the US, a trend most market watchers content will continue in the future.

To read the article in it’s entirety, please click on the following link.

http://blog.al.com/acre/2014/10/alabama_residential_sales_in_s.html

Thank you for visiting my website. Please make sure you browse my current listings while you are here. I have properties in ALL price ranges!

 

Lee County area residential sales in August improve 25% from prior year; YTD sales up 6%

By | Ashley | No Comments

 

Please enjoy this exciting read on the real estate market improvement and call me TODAY for all of your Real Estate needs! Team Ashley welcomes the opportunity to work for you!

Reported By Alabama Center for Real Estate (ACRE) 
on September 25, 2014 at 8:53 AM

Monthly Sales: Lee County residential sales totaled 142 units in August, a significant improvement in sales growth of 24.6 percent from the same period a year earlier. August sales were 7 units above our monthly forecast. The year-to-date sales forecast through August projected 996 closed transactions while actual closings were 1,009 units.

Supply: The Lee County housing inventory in August was 820 units, a decrease of 7.4 percent from August 2013 and 40.8 percent from the month of August inventory peak in 2010 (1,385 units).

August inventory in Lee County also decreased by 1.8 percent from the prior month. This direction is consistent with historical data indicating that August inventory on average (’09-’13) decreases from the month of July by 4.0 percent.

The inventory-to-sales ratio in August was 5.8 months of housing supply. Restated, at the August sales pace, it would take 5.8 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) is considered to be approximately 7 months during the month of August. This represents the first local market in Alabama that can be officially labeled a seller’s market. The last time the market experience 5.2+/- months of housing supply was August 2006 when it was 5.3 months.

Demand: Residential sales decreased by 11.3 percent from the prior month. This direction is consistent with seasonal historical data indicating that August sales on average (’09-’13) decreases from the month of July by 30.0 percent.

Existing single family home sales account for 51 percent (down from 61% in Aug’13) of total sales while 25 percent (same as Aug’13) were new home sales and 24 percent (up from 13% in Aug’13) were condo buyers.

Pricing: The Lee County median sales price in August was $174,200, a 4.3 percent decrease from last August. The higher than normal of condo sales may have skewed, in this case, lowered the August median sales price. The August median price slipped 7.0 percent compared to the prior month. Historical data (’09-’13) indicates that the August median sales price traditionally decreases from the month of July by .1 percent. Pricing can fluctuate from month-to-month as the sample size of data (closed transactions) is subject to seasonal buying patterns so a broader lens as to pricing trends is appropriate and we recommend contacting a local real estate professional for additional market pricing information.

Industry Perspective: “The August National Housing Survey results lend support to our forecast that 2015 will likely not be a breakout year for housing,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “The deterioration in consumer attitudes about the current home buying environment reflects a shift away from record home purchase affordability without enough momentum in consumer personal financial sentiment to compensate for it. To date, this year’s labor market strength has not translated into sufficient income gains to inspire confidence among consumers to purchase a home, even in the current favorable interest rate environment. Our third quarter Mortgage Lender Sentiment Survey results, to be released later this month, are expected to show whether mortgage demand from the lender perspective is in line with consumer housing sentiment.”

To read the article in it’s entirety, please follow the link below.

http://blog.al.com/acre/2014/09/lee_county_area_residential_sa_9.html

Make sure you take the time to view my listings while you are on my site.  We have something for every buyer!

Lee County Area Residential Sales in June Improve 10% from Prior Year!!

By | Ashley

This is super news for Lee County, folks! Please enjoy this exciting read and call me TODAY for all of your Real Estate needs! Team Ashley welcomes the opportunity to work for you! We will get her SOLD!

Reported By Alabama Center for Real Estate (ACRE)
on June 24, 2014 at 7:45 AM, updated June 24, 2014 at 7:48 AM

Monthly Sales: Lee County residential sales totaled 186 units in June, a significant improvement in sales growth of 10.1 percent from the same period a year earlier. June sales were the best on record for the month and were 28 units above our monthly forecast. The year-to-date sales forecast through June projected 689 closed transactions while actual closings were 707 units.

Supply: The Lee County housing inventory in June was 884 units, a decrease of 8.4 percent from June 2013 and 41.8 percent from the month of June inventory peak in 2010 (1,519 units).

June inventory in Lee County also decreased by 1.4 percent from the prior month. This direction is consistent with historical data indicating that June inventory on average (’09-’13) decreases from the month of May by 4.6 percent.

The inventory-to-sales ratio in June was 4.8 months of housing supply. Restated, at the June sales pace, it would take 4.8 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) is considered to be approximately 6 months during the month of June. This represents the first local market in Alabama that can be officially labeled a seller’s market. The last time the market experience 4.8+/- months of housing supply was June 2006.

Demand: Residential sales increased by 10.1 percent from the prior month. This favorable direction is consistent with historical data indicating that June sales on average (’09-’13) increases from the month of May by 8.7 percent.

Existing single family home sales account for 59 percent (up from 51% in June’13) of total sales while 23 percent (down from 29% in June’13) were new home sales and 18 percent (down from 20% in June’13) were condo buyers.

To read the article in it’s entirety, please follow the link below.

http://blog.al.com/acre/2014/07/lee_county_area_residential_sa_7.html

Make sure you take the time to view my listings while you are on my site.  We have something for every  buyer!

Lee County area residential sales in May improve 20% from prior year!

By | Ashley

This is super news for Lee County, folks! Please enjoy this exciting read and call me TODAY for all of your Real Estate needs!

Reported By Alabama Center for Real Estate (ACRE)
on June 24, 2014 at 7:45 AM, updated June 24, 2014 at 7:48 AM

Monthly Sales: Lee County residential sales totaled 169 units in May, a significant improvement in sales growth of 19.9 percent from the same period a year earlier. May sales were 26 units above our monthly forecast. The year-to-date sales forecast through May projected 531 closed transactions while actual closings were 521 units.

Supply: The Lee County housing inventory in May was 897 units, a decrease of 9.8 percent from May 2013 and 40.8 percent from the month of May inventory peak in 2010 (1,516 units).

May inventory in Lee County increased by 1.1 percent from the prior month. This direction is consistent with historical data indicating that May inventory on average (’09-’13) increases from the month of April by 1.2 percent.

The inventory-to-sales ratio in May was 5.3 months of housing supply. Restated, at the May sales pace, it would take 5.3 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) is considered to be approximately 6 months during the month of May. This represents the first local market in Alabama that can be officially labeled a seller’s market. The last time the market experience 5.3 months of housing supply was August 2006.

Demand: Residential sales increased by 34.1 percent from the prior month. This favorable direction is consistent with historical data indicating that May sales on average (’09-’13) increases from the month of April by 22.7 percent.

Existing single family home sales account for 50 percent (up from 57% in May’13) of total sales while 24 percent (same as May’13) were new home sales and 16 percent (down from 19% in May’13) were condo buyers.

Pricing: The Lee County median sales price in May was $178,500, a 9.5 percent increase from last May. In addition, the May median price improved 4.5 percent compared to the prior month. Historical data (’09-’13) indicates that the May median sales price traditionally increases from the month of April by 4.1 percent. Pricing can fluctuate from month-to-month as the sample size of data (closed transactions) is subject to seasonal buying patterns so a broader lens as to pricing trends is appropriate and we recommend contacting a local real estate professional for additional market pricing information.

To read the article in it’s entirety, please follow the following link:

http://blog.al.com/acre/2014/06/lee_county_area_residential_sa_6.html

Down Payment Funds Looking for Buyers!

By | Ashley

As Written & Reported By:

 

download

June 16, 2014

Home buyers seeking assistance paying their down payments are better off in Southern real estate markets than elsewhere, according to a new survey and analysis by Down Payment Resource (DPR).

The DPR’s June Home Ownership Program Index analyzed 1,654 programs available nationwide. Across Down Payment Resource’s databank, nationally, 90 percent of programs are funded with the greatest number of programs available in the South.

. The Index measures home ownership programs available across the country and the percentage of funded programs. DPR, the nation’s only search engine for home buyer programs, aggregates the benefits and eligibility requirements for programs including down payment assistance, grants, affordable first mortgages, and tax credits.

To read the article in it’s entirety: please visit the following link:

http://www.realestateeconomywatch.com/2014/06/southern-down-payment-funds-looking-for-buyer

Enjoy. It’s a solid read. Remember, whether you are in the market to list or sell, Team Ashley is READY to WORK for  you! Call me today for an appointment!

Top 10 Tips for Buying Your First Home!

By | Ashley | No Comments

Published By: TLC

Written By: Jessica Brown

Noisy neighbors upstairs? Sick of living in mom and dad’s basement? Or just want to take part in the American Dream? Whatever your reason for wanting your own home, taking the leap can be both exciting and daunting. Yet, according to a National Association of Realtors survey, you’re not alone; the number of first-time homebuyers was about 47 percent of all home sales in 2009 [source: National Association of Realtors].

While thoughts of white picket fences and granite countertops might be dancing in your head, you don’t want to be carried off by a dream and left holding a serious bill. This is probably one of the biggest purchases you’ll ever make, so instead of making an impulse buy (like that pair of designer jeans you just bought), arm yourself with research and a few quality advisers. It can be the difference between years of loving the home you’re in versus wondering how long until you can look for your next one.

Take a look at these 10 tips to get you started on your way to real estate bliss.

To read the article in it’s entirety, please click on the following link:

http://tlc.howstuffworks.com/home/10-tips-for-buying-your-first-home.htm

Super tips and a great read. Call me for all your real estate needs, today!

 

Lee County residential sales improve 16% in December; 2013 sales up 4%!!

By | Ashley | No Comments

This is SUPER news for our area, folks and a GREAT read. Enjoy!

By Alabama Center for Real Estate (ACRE)
Follow on Twitter
on Janu4, 2014 at 10:41 AM, updated January 24, 2014 at 10:52 AM

December residential sales in Lee County totaled 88 units representing a 15.8 percent improvement from the same period last year and 1 unit above our forecast for December. For the year, the Lee County market experienced sales growth of 3.8 percent over last year. In 2012, Lee County experienced sales growth of 9 percent.

Our 2013 forecast for Lee County projected 1,338 closed transactions – actual closings were 1,280 units or 4.3 percent below forecast.

Supply: The Lee County housing inventory in December was 825 units, a decrease of 10.4 percent from December 2012 and 33.9 percent from the month of December inventory peak in 2010 (1,248 units). There was 9.4 months of housing supply (8 months considered balanced market in December) in December 2013 versus 12.1 months of supply in December 2012, representing a significant drop of 22.6 percent which is good news for the market.

To read the article in it’s entirety, please click on the following link:

http://blog.al.com/acre/2014/01/lee_county_area_residential_sa_2.htm

 

Call me TODAY for all your Real Estate Needs!  “Your Realtor That’s Connected to the Community!”

Cyber Monday to be busiest day ever for FedEx…

By | Ashley | No Comments

By Patrick deHahn  @CNNMoney October 23, 2013: 12:02 PM ET

NEW YORK (CNNMoney)

With stores offering big online sales discounts, FedEx expects this year’s Cyber Monday to be the busiest day in its shipping history.

Each year, the big online shopping day hits the Monday after post-Thanksgiving holiday sales and many retailers offer special discounts on online purchases. This year, Cyber Monday falls on Dec. 2.

To read the article in it’s entirety, please click on the following link:

  http://money.cnn.com/2013/10/23/pf/fedex-cyber-monday/

Is this how you are spending your Monday? Does this make moresense   than battling the crowds? Weigh in and have a great week!

Ashley Smith Durham

Top 10 real estate trends for 2014

By | Ashley | No Comments
By: Ilyce Glink /MoneyWatch/ November 9, 2013, 6:50 AM
MoneyWatch) If the real estate recovery is a baseball game, we’re in the fourth or fifth inning.So what will the rest of the game look like?

Experts from the Urban Land Institute unveiled their view of how the rest of the recovery will play out in their Emerging Trends in Real Estate report, released this week at the land use and planning nonprofit’s annual conference in Chicago.

The group highlighted a number of housing trends we can expect to see playing out over the next few years, based on surveys and interviews with real estate developers, investors, lenders, servicers and builders.

Millennials are moving the market, but not as homeowners

Though the so-called Millennial generation has been much-maligned in the media, real estate movers and shakers are increasingly interested in where this generation is headed — quite literally. A number of the cities have seen increased economic activity in the real estate sector led by this generation, particularly Austin, Seattle, Portland and the Twin Cities in Minneapolis.

Minneapolis’ place as number nine on a list of the top 10 cities for developers came as a surprise to Andrew Warren, director of PwC, a research and advising firm that co-authored the report with ULI.

“This is a city that’s attractive to younger generations,” he said, adding that its diverse economic base is helping to bring in a lot of college grads that don’t want to leave the Midwest.

However, this same group isn’t forming new households, and they’re not buying as many homes as their parents’ generation were at their age.

Second-tier cities will lead the recovery next year

Investors, developers and builders are losing some interest in the so-called 24-hour gateway cities — San Francisco and New York City — and have developed more interested in cities like Dallas and Portland, where there are more housing deals to be had.

For example, in 2011 only New York City and Washington, D.C. had good prospects for real estate investors and developers, according to the ULI report, but now Austin, Boston, Dallas, Houston, Miami, Orange County, Portland, San Francisco, San Jose and Seattle make that list — and D.C. actually dropped out.

Real estate recovery still hinges on job growth

The slow pace of job growth as well as income and wage growth is still holding back the real estate recovery and that’s not likely to change quickly.

Many cities in the Bay Area and in Texas have seen strong housing recoveries based on the strength of their economy, said Stephen Blank, ULI senior resident fellow for finance, so places with low unemployment can expect better recoveries next year, while places still haunted by economic issues won’t.

The “smile investing” philosophy is back

Real estate developers are interested once again in a so-called smile investment philosophy, Warren said. According to the philosophy, developers and investors start looking at cities in the Northeast and moving south to cities along the Sun Belt — Florida, Texas, Arizona — and then coming back up to the Northwest — Northern California, Oregon and Washington state. So expect to see more activity in those areas than in the Midwest.

Multi-family apartment building will wane

With rapidly rising demand for apartments during the recession — boosted by increased demand from homeowners-turned-renters — multi-family building surged. But that’s likely to quiet down in 2014, as supply and demand have swapped places — and there may actually have been too much multi-family building in 2013, Blank said.

Condo development is still on the back-burner

The recovery in the condo market hasn’t matched that of the single-family market, and developers aren’t willing to take the risk on putting up new condo buildings.

Instead, builders and developers are taking a dual-track option: They build a rental apartment building with an eye on switching it to condos in 12 to 16 months, depending on market conditions, Warren said.

High-end apartment buildings are also proving problematic for developers, as the interest from well-heeled potential renters simply hasn’t been consistently strong.

To read the article in its entirety, please visit:
This is a super read…Please enjoy and call me for all of your Real Estate needs!

Homes for Heroes helps family become first-time homeowners!

By | Ashley | No Comments

Posted: Monday, July 29, 2013 6:44 pm |

Updated: 6:48 pm, Mon Jul 29, 2013.

Tamiko Lowery | Opelika-Auburn News

Daylan Evans knew exactly where he was going. He flew up the stairs and took a hard right and abruptly stopped in a crème colored empty room with neutral colored carpet and stood there beaming.

“This is my room,” said 9-year-old Evans.

His baby sister, Ava, 4 months, will have her own room, too.

Evans says he’s been thinking about decorating with chalkboard paint. An honor roll student at Auburn City Schools, he enjoys playing baseball and tackle football.

For Daylan’s parents, Lajoye and Demarrick Evans, a new home is something they’ve dreamed about for their children. Today, that dream comes true. The last of the paperwork will be signed at Crawford Melton’s Opelika office, and the Evans will drive away with the keys to their new Auburn home.

As the first local recipients of the Homes for Heroes program in conjunction with Prestige Properties, the family couldn’t be happier.

Realtor Ashley Smith-Durham of Prestige Properties said the Homes for Heroes program was created nationally after so many heroes lost their lives on Sept. 11, 2001.

“This was a way for a group of Realtors to give back to heroes by helping them buy a home,” Smith-Durham said.

To read the article in it’s entirety, please click on the following link:

http://www.oanow.com/news/auburn/article_d1b83074-f8a8-11e2-855d-0019bb30f31a.html

This is a wonderful program and one I am certainly proud to be a part of…I encourage you to visit the website at www.homesforheroes.com and let our Homes for Heroes Team put you in your dream home. Happy reading! – Ashley

 

The data relating to real estate for sale on this web-site comes in part from the Internet Data Exchange Program of Lee County Association of REALTORS. Information is deemed reliable but is not guaranteed.

This IDX solution is (c) Diverse Solutions 2020.