Well yea!  Local new Foreclosure activity is showing a very nice downward trend in the Huntsville Alabama area and over the last 3 consecutive months as well.  Here is hoping this trend continues throughout the next year!

New foreclosure activity includes default notices, auction notices, or bank repossessions.  The activity peaked this past February 2010 at 175 new foreclosures and the rate has come down dramatically over the last 3 months to only 100 new notices for July 2010, representing a -43% decline in foreclosure activity.

View All:  Foreclosures in Huntsville, AL
View All: Foreclosures in Madison, AL

One thing to keep in mind is that regardless of your location preference or price range there may be interesting foreclosure properties to view and we make it easy for you to isolate these homes exactly meeting your search criteria. From our Main Search Menu just input your filter criteria and then check the Foreclosure Only box at the bottom prior to executing the search.

Also don’t forget you can save all of your detailed searches as One Click Searches that are so easy to execute anytime you return to the site. Heck optionally on a per saved search basis you can set up notifications to let you know that new or price reductions have occurred within that particular search results. Turn some on and leave others off, its all up to you.

Find one you would like to take a closer look at?  No problem email me or give me a call 256-425-1659 and off we’ll go.

- Elizabeth

The Preserve at Limestone Creek, a brand new Huntsville Neighborhood with 771 home-sites planned, is to begin development construction very soon.  A subdivision of this size is a huge undertaking by any measure of the word, and should be interesting to watch as it progresses.

According to the Huntsville Times, the city’s subdivision approval panel has given its initial authorization this morning for development of the first 27 home-sites of the new neighborhood.

The development will be located on 585 acres between Madison / Athens Alabama off of Gray Road. What is unique about this Limestone County subdivision is that this parcel was annexed by Huntsville in 2008, and thus supported by the Huntsville City School System via Providence Elementary / Middle Schools and Columbia High School.

The developer, Ray Mahaffey, told the Times that, “he has already lined up Norfolk Homes to build the first homes expected to sell within the $225k – $300k price range”.

Some of you close to the Huntsville Real Estate market will know of Norfolk Homes from their previous building in the McMullen Cove, MidTowne on the Park, and Chase Springs neighborhoods. The Preserve at Limestone Creek is named for the waterway that curves throughout the property and will also be progressively developed since the homes will be pre-sold prior to construction.

Stay Tuned,

- Kathy

With inventory levels at an all time high and the federal Tax-Credits for home buyers now behind us, the Huntsville Housing Market has entered a strong buyer’s market phase.

The most recent Tax-Credit had the effect of accelerating home sales into the 2-3 months leading up to its expiration (June 2010), in effect producing artificially high home sales.

This same effect will also likely drive the 2-3 months following expiration to artificially low home sales, and this is exactly where we are within our local market. The real market is somewhere in the pre-tax-credit and post-tax-credit averages.

The Raw Numbers are a bit Scary

Single family home sales in the Huntsville Metro Area declined -40% when comparing last months sale’s of 401 transactions to the 240 closings of July 2010. Even when seasonally comparing July’s home sales with last years results the year-over-year decline is still an astounding -32%.

However comparing June-July of 2009 and 2010 respectively may be the best approach to measure current market performance while attempting to mitigate the recent tax-credit effect: During the 2 month period (June-July) of 2009 there were 671 closings and in (June-July) 2010 there were 650 transactions, thus the year-over-year comparison yields a 3% decline and this likely is an approximation of where the real underlying market is performing.

Inventory levels in the metro area ticked up an additional 29 units this past month, to again hit a new all time high of 2846 homes for sale. There definitely appears to be many more sellers than there are buyers to go around, adjusting absorption rates up to a very high 11.86 months of supply.

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To you Huntsville home buyers out there, with record low interest rates and record high inventory, this is your kind of market baby! …and I anxiously await to see what you will do with it: Will sellers retreat bringing inventory levels down to more moderate levels?, Will prices adjust lower as we head into the fall and winter?, …only time will tell but you can follow it all here on our RSS feed.

- Elizabeth

What: Open House
Where: 1804 Melbourne Ave. Huntsville 35801
When: Sunday 08/15 2:00pm – 4:00pm

Wonderful home in the Five Points Area of Huntsville. Schools include Chapman Elementary, Chapman Middle, and Lee  High School. View complete listings details for 1804 Melbourne Ave. Huntsville, AL 35801.

This Charming Three Bedroom, Two Bath Ranch Is Located Just A Hop Skip And A Jump From Five Points. Beautiful Hardwoods In The Bedrooms, Living Room, And Dining Room. Newer Countertops, Windows, Tiled Bathrooms. The Kids Will Enjoy The Private, Fenced Backyard, And What A Great Place For Your Four-legged Friends. Don’t Forget To Go To The Basement, A Rare Find! Unfinished Basement.

Directions: Andrew Jackson(r)on Oakwood,(r)on Maysville,(l)on Stevens,(r)on Bide-a-wee,(l)on Melbourne,house On (r).

Come on out and take a close look and if you have any questions or need additional information don’t hesitate to email me or give me a call 256-975-8402 directly.

- Kathy

Are looking to get into a new home but the timing of your circumstances is just not ideal? Perhaps you have a home you need to sell in your previous location, a CD of yours doesn’t mature for another year, or some other similar circumstance. Then learning a bit more about lease purchase options might be helpful in exploring your choices.

What is a Lease Purchase?

First it is important to make a distinction between Lease Option and Lease Purchase because they are two significantly different financial contracts.

View Available: Huntsville / Madison AL Lease Purchase Homes
View on Map: Huntsville Area Lease Purchase Homes

A Lease Option is basically a ‘rental agreement’ for a specified length of time that also gives you an option to purchase the home at an agreed upon price. It in effect gives you a first right of refusal purchase option during your lease period. You do not have to actually close on the purchase, it’s an option.

A Lease Purchase on the other hand has at its heart a ‘purchase agreement’ with a provision that closing is to be ‘exercised’ at the agreed upon price at the conclusion of the lease period. Thus contractually you are obligated to close on the purchase, it is not optional.

Let’s Be Careful Out There

The Huntsville / Madison Homes linked to above, mention that a lease purchase option is available from the home owner. However given such a huge difference in a Lease Option and a Lease Purchase, we need to be careful when discussing these options with the listing agent and be sure to get the details of the option being offered, if not both.

This is one area where I strongly advise, that you utilize a buyers agent before approaching the listing agent or home owner. If you would like to discuss this further, please understand you can contact me anytime and I would be happy to assist.

- Elizabeth

Ok it’s true, I’m a golf enthusiast, guilty as charged, and do greatly enjoy getting out and hitting a few and every once in awhile I simply crush one or two, well that would be on a good day!

Living on or near a great Huntsville Golf Course (near being the operative word) can have its personal benefits but may also bring financial rewards over the long term. One of the industry’s closest  followers, The Golf Research Group, summarizes that golf course properties appreciate faster and are generally 2-3 times as valuable as the average US Home.

Huntsville Golf Course Real Estate for Sale
Huntsville Golf Course Real Estate Map

One thing to remember when it comes to golf homes is the oldest cliche in real estate, location-location-location. By way of example, if you would like isolate your backyard recreation from fan chatter, noisy golf carts, not to mention golf balls popping in at any time, then you will need to buy a property somewhat off the course but nonetheless have easy access with your cart.

And we have quite a selection here in the Huntsville area from the Private Club at The Ledges, Robert Trent Golf Trail of Hampton Cove, The Canebrake Club in Limestone Co, and several others.

If you are interested in exploring your golf realty options in the Huntsville area, please just drop me an email or call 256-468-7151 , I would be more than happy to show you around … and hey perhaps we can even hit a few!

- Michael

Being a born and raised middle Tennessee girl, I have seen lots of beautiful Equestrian Properties, nevertheless to the east and northeast of Huntsville nestled in the foothills of the  Cumberland Plateau lies not only some rival Horse Properties but some really breathtaking homes and believe me, some of them carry a price tag in concert with their beauty.

Huntsville Area Horse Properties are not just real estate, for those who enjoy trail riding, horse shows, training, breeding, or simply sharing activities with fellow enthusiasts these homes truly represent a life style.

Huntsville Horse Properties for Sale
View These Homes on a Map

Horses are available in many breeds, sizes, and colors and naturally owning one or more  is a huge responsibility, however the joys of gazing out your back window and seeing them on the pasture is well worth that monthly mortgage payment for many.

Owning horse property is advantageous in many ways, apart from simply reducing your boarding bill. Thus, when you have decided you’re ready to look at places, for both you and your hoofed family, just drop me an email or give me a call 256-425-1659 and we will spend sometime looking at these properties and analyzing your options.

- Elizabeth

Ok, you are looking for a New Huntsville Home in a New Neighborhood. Moreover you like the neo-traditional feel of pedestrian streetscapes, rear garage and utility access,  easy access to green space, and a community club house with a nice sized pool.

However the neighborhoods you have visited are either above your targeted price range or just too far off the beaten path for comfort. If this sounds like your family, then the conveniently located Midtowne on the Park may be worth a visit.

Midtowne on the Park Homes for Sale
Map of Midtowne on the Park

If it’s convenience you are after, then Midtowne on the Park is hard to beat. The major employment centers of Research Park and Redstone Arsenal are a 5 minute drive, as is major shopping areas like Bridge Street Town Centre, moreover the Village of Providence with its restaurants and budding night life are also just a few blocks away.

Nevertheless my favorite attribute of this neighborhood is its direct access to the Indian Creek Greenway, Disc Golf Course, and of course my favorite Dog Park. If all of this sounds worthy of a closer look  then I am certainly up for the trip, just drop me email or give me a call 256-468-7151 and I’ll set up your own personal neighborhood and home tour.

- Michael

Wow, it has been one hot-hot summer out there and yesterday’s rain accompanied cool front was certainly a blessing.

Despite the heat, I have had a great summer thus far and I have truly enjoyed our family pool this summer more than most. Family and friends pool side over the weekend and cranking up the grill, when evening comes rolling in, makes for some quality family time in my mind!

There are of course advantages and disadvantages to owning a home with a pool and each home owner must make their own decision and choice.  Nevertheless given Huntsville’s enduring summer weather, the natural pool season is 5-6 months long and this can easily be extended with a moderately priced pool heating option.

One Click Area Searches:

Huntsville Pool Homes for Sale
Madison Al Pool Homes for Sale
Map These Puppies

Advantages vs Disadvantages

The disadvantages of owning a pool home are 2 fold:  Primarily having to do with the cost in time and money for maintenance but also if one has small children, safety precautions must be paramount.

For many, the advantages of quality time with family and friends, along with the recreational and health benefits of swimming, more than out weigh the monetary cost. Nonetheless even active and athletic families with small children often decide against owning a pool home while the children are very young.

Why Not Take a Look

This time of year almost all of our clients throw 1 or 2 pool homes in the mix to take a close look at. If you are interested as well, we would love to take you on the tour, just drop me an email or give me a call 256 -425-1659 and off we will go.

- Elizabeth

I openly admit that the only Gated Communities I have actually lived in, are the NCO family quarters of several military bases and while this is certainly off my current topic, it is still a truism that Gated Community Living has become a popular option  for many all across the county.

Gated Community Pros:

Gated Communities bring things like expensive homes, exclusivity, safety, and security to our minds, but what lies beyond those gates?

View List: Huntsville Gated Community Homes for Sale
View Map: Huntsville Gated Community Map

The benefit most residents look for in a Gated Community is the security element, because Gated Communities are private criminal activity is greatly reduced and solicitors are virtually eliminated. Traffic and speeding cars, a danger for children at play, are also significantly lowered as you won’t likely have that morning or evening commute rushing along short cut thoroughfares.

However likely the greatest benefit of Gated Communities within Huntsville, are that many of them are built around specific recreational or aesthetic pleasures such a Golf Courses, Tennis Clubs, Waterfront Homes, or majestic Mountain Views. Such amenities can bring significant social benefits for home owners.

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Gated Community Cons:

The biggest con of all is of course cost! Huntsville Gated Communities often come with high price tags and costly HOA fees to pay for such things as private security, roads, and maintenance. Also not all Gated Communities have actual guards and use automated gates which in themselves are easily breached.

While some of Huntsville’s Gated Communities are located farther away from our employment centers other are not, so given that the local quantity is limited visiting them all is certainly recommended. If these types of issues are not a concern, then getting your hands on a home in a gated community may also bring a nice appreciation in years to come

Like to take a local tour? Why not email us or give us a call 256-425-1659 and we get the ball rolling.

- Tim