Tuscaloosa Alabama Ranked 4th in home price increases - 02/27/09 05:45 PM
While average home prices in the US fell 8.2%, Tuscaloosa had a rise in prices of 4.84%.  Robert Brooks, an economics and finance professor at the University of Alabama, contributed the housing market to the areas diversity of industry and fiscally well-run local government. 
"Look at the financial management of Tuscaloosa County compared with Jefferson County up the road. It is quite a contrast," he said. Jefferson County is on the verge of filing the largest municipal bankruptcy in U.S. history because of its inability to pay bondholders who financed the county's multibillion-dollar sewer system update. The Birmingham-Hoover metro area, which … (1 comments)

January 2009 Real Estate Statistics for Tuscaloosa Alabama - 02/11/09 02:38 PM
Tuscaloosa Real Estate MLS   January 2009 Real Estate Statistics # of Homes Sold: 77  New Const Sold: 25% (19 Homes) Condos Sold: 0% (0 Units)  Condos Active: 14% (248 Units)Ave Days on Market: 123  Avg Selling Price: $144,591  Median Selling Price: $131,000# of Homes on Market: 1769  New Const. Active: 21% (366 Homes)
 Click here for past Tuscaloosa Real Estate Statistics
 
The average selling price and the median selling price are off from December but the number of days on market has improved slightly.   The number of homes sold is slightly down while the number of new construction sold increase a little.  Overall our market is holding up well … (0 comments)

Personal Bankruptcies soar 33% in 2008 - 02/02/09 03:29 PM
According to data from U.S. bankruptcy courts and compiled by bankruptcy data firm Automated Access to Court Electronic Records there were more than 1 million filings in the United States in 2008 -- the most since a rewrite of bankruptcy laws went into effect in 2005.
Chapter 7 allows people to discharge all of their debts, while Chapter 13 allows you to repay your debts with a e to 5 year plan. 
The greatest increases in per capita bankruptcy filings were found in Nevada (7.15 filings per 1,000 residents), Delaware (4.02), California (3.57), Florida (3.63) and Rhode Island (3.99). Even thought it … (4 comments)

Freddie Mac to Offer Leases to Those Facing Foreclosure - 02/01/09 12:22 AM
Freddie Mac is implementing a new plan this month to offer leases to those households who loose their home to foreclosure.   They fell by doing this they will keep many empty homes off the market which further depress the housing market and pushes home prices further down.  They also feel that keeping foreclosed properties occupied and in better repair will support local property values.
By doing this they hope to promote a faster recovery in the housing market as well as maintain the value of these foreclosures.   Fredding Mac will continue to seek loan modifications in order to help retain ownership.  But those … (4 comments)

 
Chris Lee (RealtySouth)

Chris Lee

Tuscaloosa, AL

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RealtySouth

Address: 500 TownCenter Blvd, Tuscaloosa, AL, 35406

Office Phone: (205) 758-3300

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