Since the recession initially hit America, everyone’s had problems coaxing the real estate engine to begin turning properly again. With unprecedented unemployment highs, it’s been a long, drawn out fight to turn the tide on the Alabama housing market. However, this year shows a healthy improvement in the overall Alabama real estate numbers, offering Alabama residents a glimpse at a potentially significant change in the economic landscape. ACRE (the Alabama Center for Real Estate) released its most recent report back in June, showing a noteworthy 7.9% increase to the residential real estate numbers compared to June 2013.
There were 325 more units sold in Alabama in 2014 than in 2013, making a solid indicator for a more profitable market. There is a clear demand for residential Alabama real estate sales, marking 2014 third quarter sales with a 12.1% increaseover the 3-year average. Real estate data from the past 5 to 10 years shows a marked increase in demand. This information translates into Alabama real estate being currently desirable, making it a good market to buy or sell a home. The projected 2014 residential forecast for Alabama real estate is approximately 5% higher than 2013, making it a great time to consider a move.
Here are some quick tips on conducting a successful real estate transaction whether buying or selling:
- Get a real estate agent. Real estate agents devote their lives to crafting mutually beneficial property exchanges, so they have the greatest amount of information on current listings and how to connect the right family to the right home. They provide insider information on each property and are experts at negotiating the best price for both parties involved.
- Appraisal problems. Make sure the home in question is properly appraisedand everyone involved is working together closely. In some cases, even if many buyers will pay a specific price, the third-party appraiser won’t agree to that price.
- Don’t get emotionally involved. Yes, you should love the home you plan to buy, but don’t become overly attached. Be aware that sometimes the price isn’t right, no matter how great the house is. From a selling standpoint, don’t take it personally when potential buyers dislike things about the home. Selling a house is sometimes an emotional experience, but attempt to focus on the facts and the numbers.
With encouraging statistics for residential real estate transactions in Alabama and the help of a great real estate agent, buying or selling a home will be a straight-forward process.