Huntsville/Madison County Residential Real Estate Sales report for 2012



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We here at Amanda Howard Real Estate wanted to provide to you a combination of the research and facts we have interpreted from our local Huntsville Area Association of Realtors (HAAR) listing service along with the research printed by Alabama Center for Real Estate (ACRE) with our review of the Huntsville/Madison County sales for 2012.  This combination should prove to be a very insightful resource for your review.
Huntsville/Madison County residential sales reached 4,776 units in 2012. There were 504 more housing units sold compared to the prior year.  This 11.8 percent improvement is definitely a gold star for our community.    As far as how we stacked up in the state, we trailed only slightly behind Montgomery, who won out as Alabama's top metro market with a sales growth of 12.1 percent in 2012.

Huntsville/Madison County would consider the firm Amanda Howard Real Estate, the platinum star, as this elite team closed 304 homes with only 9 agents. This yielded a 22% growth in revenue in 2012 for Amanda Howard Real Estate over all.   The city of Huntsville could not be prouder seeing this company bring a 35% growth in business revenue from 2011, accounting for $59 million dollars of sales production for the city of Huntsville and state of Alabama.

According to the inventory statistics from HAAR, the Huntsville/Madison County housing inventory totaled 2,883 single family homes, a decrease of 5 percent from last December. The inventory-to-sales ratio in December stood at 8.4 months of housing supply, this reflects a slight decrease from 8.8 months in December 2011. This figure still represents the best inventory balance between supply & demand in Alabama.  This direction is consistent with historical data trends that indicates December inventory on average (’07-’11) traditionally decreases from the month of November by 6.4 percent.

Alabama Center for Real Estate reported Existing single family home sales accounted for 65 percent (compared to 61% in Dec'11) of total sales, new homes sales accounted for 33 percent (down from 35% in Dec'11) while condos were 2 percent of sales (down from 4% in Dec'11).

Residential sales in December increased by 2 homes only from the same period in 2011, from 338 to 340.
Amanda Howard Real Estate reported from the data compiled from the Huntsville area MLS that the Greater Huntsville/Madison County median selling price in December was $178,000, an increase of 5.5 percent from last December.  ACRE reported that Real estate sales are seasonal and the sales pace slows during the winter quarters resulting in a higher degree of statistical volatility. With that said, through November seventy-six percent (19 of 25) of the local housing markets across the State have experienced year-to-date sales growth from 2011 and that is welcome news for Alabama consumers as well our state's real estate community. As for the latest economic forecast entering the new year, according to Global Insight's most recent short-term outlook, "The economy still has only weak forward momentum. We expect growth in the 1.5–2.0% range in the fourth quarter. Some underlying fundamentals are improving—most importantly, housing. We expect that the fog of uncertainty (US fiscal policy) will gradually clear during 2013, setting the stage for a broad-based improvement in economic growth in 2014."

Should you have any questions regarding this report, your own homes values or your surrounding neighborhood values, as all are very specific, please contact info@amandahoward.com to request more information.

All facts and figures provided by Amanda Howard Real Estate reported directly from the facts provided in the HAAR MLS and is subject to change based on the live system changes.  The ACRE monthly report is provided to illustrate the "general" market direction & trends when comparing prior periods with the most current available data. The Huntsville Residential Monthly Report is work product developed in conjunction with the Huntsville Area Association of REALTORS to better serve North Alabama consumers.

Announcing Amanda Howard Real Estate’s New Construction Division and Valor Communities!



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Amanda Howard Real Estate is happy to announce the opening of a New Construction Division!  We now service residential real estate, property management, and new construction! With this latest development, we have acquired the exclusive account to represent Valor Communities here in Alabama. Amanda Howard has been named their Alabama VP of Sales! Current Valor Communities include Arbor Hill in the Reserve, Ashton Springs, and Sagebrook.

Mark your calendar!  We will host an Open House the weekend of February 9th & 10th at the Ashton Springs subdivision (near Village of Providence) to open both Ashton Springs and Sagebrook. A Broker Open House will be held for all of our agent friends to have an exclusive preview of the homes on February 7th. More details to be emailed to you very soon!

For information on these properties, contact the onsite Community Sales Manager, Quincy Wiggins, at 256-286-4402 or email Quincy@ValorCommunities.com. Be sure to visit their website at http://www.valorcommunities.com!

Real Estate News – Extended Mortgage Debt Relief Act, PMI Tax Relief and Capital Gains Tax Rates


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Now that we are well into 2013, there will be some changes to our real estate outlook with some familiar programs back in action. With all the talk about the impending Fiscal Cliff, it is no wonder that homeowners everywhere are wondering how the outcome will impact them individually. Here are three recent changes and/or updates to the programs available out there that will have a significant impact on our marketplace this year and moving forward.

Mortgage Debt Forgiveness Act Extended Through 2013
On the minds of many homeowners that have mortgages falling short of the current value of their homes, the Mortgage Debt Forgiveness Relief Act was set to expire on December 31, 2012. Among the many issues discussed within Congress during the last few hours of 2012 was the extension period of this important tax relief for distressed homeowners. Primarily as a means to help consumers faced with hardships overcome their financial difficulties when they incur forgiven debt – the Act serves to waive tax implications on what otherwise would be considered taxable income.

Private Mortgage Insurance Tax Relief Now Applies to Fiscal Years 2012 and 2013
Each year millions of homeowners look forward to the tax relief that comes with being able to write off their private mortgage insurance premiums. By the end of 2012, no one was sure the American Taxpayer Relief Act of 2012 would be extended to include the coming year. Once again, at the final hours of negotiations the Act was extended through fiscal year 2013 to allow homeowners paying private mortgage insurance to deduct that amount when filing their income taxes.

Capital Gains Tax Rates Increased from 15% to 20%
A topic of confusion for many, the capital gains tax increase set for higher income levels is more lenient than most people realize. Though the theory is that this increase in tax impacts individuals and households with higher income levels, the truth is the income and gains cap is relatively high. The capital gains tax increase will only apply to individuals earning an Adjusted Gross Income of $400,000 or more. Furthermore, people in these income brackets will incur the capital gains tax only on income earned above and beyond the cap which is $250,000 or more for individuals and $500,000 or higher for households.
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If you would like to discuss these or any other issues in the real estate marketplace or if you are considering buying or selling a home – contact us today! We would love to help make your real estate dreams become a reality!