Monthly Archives: February 2010

Thing of Buying? Better Get Crackin’!

If you’ve been thinking about buying a home in the Birmingham or Shelby county area, be aware: the clock is ticking…

The government’s Tax Credit for first time (and many existing) Buyers ends April 30th.
Time to get off the fence!

Under current rules, that’s the last day you can have a Contract to buy a home in place and still be eligible for the credit.

Have you been ‘on the fence’ about buying?

Here are some of the reasons proving why buying now is such a good idea:

  • Inventory is high…fancy lingo for: “There are lots of homes to choose from!”
  • Sellers are motivated…fancy lingo for: “Many Sellers want to sell and will work with you!”
  • Financing is affordable…fancy lingo for: “Loan rates remain in the 5% range; try to beat that with a stick!”
  • If you’re a qualified Buyer under the Tax Credit, you’ll be getting up to $8,000 back…fancy lingo for “What are you waiting for?

    Whether you’re buying an existing home or want to buy a brand new home, we are seeing some excellent opportunities to own a home in just about all areas in Shelby County.

    Tax Credit Deadline

    In a number of cases, we are seeing such attractive pricing that—provided you meet certain Lender qualifications—you could own your own home, instead of paying rent.

    So, if you’re planning on staying awhile, it doesn’t make sense to rent when you could own your own home.

    Since buying a home can easily take 30 to 45 days or longer, and since the Tax Credit is set to expire in about two months, it’s time to jump off the fence!

    Colleen and I are always available to help with your search and with any questions you have…


  • Birmingham January Home Sales Drop

    After taking a look at new numbers from the Birmingham MLS, it’s clear that Buyers have the upper hand when it comes to purchasing a home in the area.

    Almost all across the board in the areas we checked, sales in January were down, and in some cases, half of what they were four months ago:

    Birmingham Home Sales Update

    The message for now is clear: Buyers call the shots.

    If you’re looking to buy, all sorts of factors are on your side at the moment. First, there are lots of homes available (482 in Helena and Pelham, 350 in Alabaster and 684 across the North Shelby Co. area at the moment!). Second, smart Sellers know they have competition and will do whatever they can to ‘work a deal.’

    Third, interest rates are, in two words, still great. One of the Lenders we work with reports 30-year fixed rates remain below five percent, while 15-year rates (which were around 4.375% last week) have dropped a bit more.

    So, if you’re a Seller, the message here is that you absolutely must meet Buyer’s expectations in terms of how nicely your home shows, and price. Fail to meet either of those requirements, and your home won’t sell.

    And if you’re a Buyer, with such a good market for buying a home, one question comes to mind:
    What are you waiting for?
    What are you waiting for?