Keller Williams Madison | Global Homes Group Madison Blog

Wednesday, April 3, 2019   /   by Global Marketing

Market Update: April 2019

  April 2019 Market Update According to the National Association of REALTORS®, existing home sales experienced a significant uptick after three consecutive months of decline. With low mortgage rates and the supply of homes rising, more buyers are entering the market.  




Interest Rates   According to Freddie Mac, 30-year fixed rates decreased to 4.28 percent in February from 4.35 percent in January. This rate remains well below the historical average of 8.90 percent.
 

Home Sales   The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.5 million in February, up 11.8 percent from January, and 1.8 percent below the 5.6 million sales pace from a year ago. 

Home Prices    The median home price increased to $249,500 in February, up 0.1 percent from January. The median home price has increased by approximately $8,700 in the past year alone.

Inventory    There ...

Read More

Wednesday, March 27, 2019   /   by Global Marketing

How Do You Know How Much to Put Down On A Home?

Down Payment Dilemma: How Do You Know How Much to Put Down On A Home?

For many prospective home buyers, the down payment is the most daunting hurdle in the race to buy a home. Even for people with decent credit and a healthy paycheck, the down payment can be the great homeownership killer.

The big question for all prospective buyers is: how much should my down payment be? Most lenders will tell you that 20 percent is the standard, but is that really necessary?

The short answer is no, but of course, there are some caveats.

"It's a myth that all homebuyers must have a 20 percent down payment to buy a home," says Nancy Herrera-Siples, a Riverside, CA, branch manager at Primary Residential Mortgage. So why all the fuss over having 20 percent to put down? "Because if you don't, it usually means you'll have to shell out money for either private mortgage insurance (PMI) or government insurance, which is usually financed by the Federal Housing Administration," according to Herrer ...

Read More

Wednesday, March 20, 2019   /   by Global Marketing

How to care for your garden and yard in every season!

A garden can help you save money on fruits and veggies, while beautiful flower beds can add value to your home. Here are a few tips for maintaining your yard in every season!

Spring

Now is the time to sow seeds and take care to prevent a cool breeze killing your plants.  Plant vegetables that turn over quickly, so you can get more than one crop over the summer. Make sure to always fertilize your grass so that you protect your yard from weeds, insects, and other plant killers. 

Summer 

Many plants, as well as your lawn, require more watering. Adding mulch will help beds to retain moisture. Make sure you pull weeds throughout the season. 

Fall 

Enjoy the last of your garden, and then clear your gardens out for the season. Use dead plants for use on your beds for next year. Plant your bulbs for next spring. Fertilize the lawn and prune trees well before the cold air comes around.

Winter 

Plan your garden for next year by ...

Read More

Wednesday, March 6, 2019   /   by Global Marketing

Real Estate Update

Huntsville ranked number one in Alabama for the fastest-selling market, third for top markets for new construction, and fourth for the most improved market.
Huntsville was Alabama's fastest selling market. It has an average of 49 days of homes on the market. The state average is 106 days on the market and the national average is 87 days. Huntsville has seen eight consecutive months with homes on the market below 60 days.  Listings declined 28.3% from last year from 1,823 listings to 1,308 listings. 
Total sales of newly constructed residential housing in the Huntsville area increased 19.1% from last year from 110 to 131 transactions. The median sales price in January increased by 16.3% from last year from $255,682 to $297,474. Inventory decreased by 6.6% from 545 to 509 listings. This goes against statewide trends in new construction markets. New construction supply decreased from 5.0 to 3.9, and average days on market decreased from 73 to 51. New construction represent ...

Read More