Birmingham Lender Clears Up Market Myths

If you’re seeing and hearing news suggesting that you’re wiser to hold off on buying a home, a talk with folks knowledgeable about the real estate market in the Birmingham and Shelby Co. area is likely to leave you surprised, and maybe a bit bewildered.

For example:

Myth: Lenders have stopped lending.

Fact: Lenders are lending, and they have some very good loans available, depending on your situation.

Clearing up the misconceptions is why we decided to catch up with Jason Lee, a Mortgage Banker with Henger Rast Mortgage in Birmingham.

In our latest netcast, we talk with Jason about why what you may be hearing on the news doesn’t match up with what’s happening in the Birmingham and Shelby Co. market.

Click the player just below…and then get moving on buying!

…or click here if you’d like to download and listen to this interview on your personal listening device.

Want to ask Jason a question about getting prequalified? Call him at 205-271-1210, or click here to send an e-mail…

David

Alabaster Area Home Sales Rise in August

With summer behind us, here’s a look at home sales trends in the Alabaster, Maylene and Saginaw areas (stats from the Birmingham MLS):

After taking a dip in June, average sales prices are holding fairly steady:

How long does it take to get a home sold in these areas? According to the MLS, the time needed is just a little over two months (the shortest it has been all year):

Right now, 354 conventional single family houses and townhomes are for sale in the Alabaster, Maylene and Saginaw areas. Of those:

289 are priced at or below $250,000;
127 are priced at or below $150,000;
22 are priced at or below $100,000;
338 have 3 or more bedrooms;
170 have 4 or more bedrooms;
29 have 5 or more bedrooms;
113 have pools or access to pools;
5 have 4 or more acres…

Need a loan to buy? Rates right now continue to be among the lowest in history. Qualified borrowers can get a 30-year fixed rate loan for as low as around 4.25%; 15-year fixed rate loans can be found by some borrowers as low as 3.75%. Colleen and I have been able to help a number of first time Buyers say ‘adios’ to renting and move into their first homes with some excellent loans at very low rates.

Needless to say, this continues to be a tremendous time to buy a home … let us know if we can help!

David