Doug's Blog

Kiplinger's Says Huntsville's #1

Doug Keel (Crye-Leike, Realtors) — Sun, 14 Jun 2009 17:36:33 -0700

Take a look at what we in Huntsville, Alabama already know to be true: http://www.kiplinger.com/magazine/archives/2009/07/best-cities-2009-where-the-jobs-are.html.

Got any engineers to refer? Let me know.

Foreclosure update

Doug Keel (Crye-Leike, Realtors) — Sun, 14 Jun 2009 17:32:11 -0700

Of 3240 active listings in Huntsville and Madison County, Alabama today, 83 are either foreclosures or short sales. That's 2.5%. This market might have been slowed by the economic issues the country has been facing but overall it's a healthy real estate market.

Foreclosures in Huntsville?

Doug Keel (Crye-Leike, Realtors) — Wed, 04 Jun 2008 08:36:47 -0700

Looking for Huntsville area foreclosures? Are you looking for property to renovate and flip? While foreclosures can be found in Huntsville, be prepared. There are not many such properties and the competition for them is keen. Today (6/4/08) there are 3143 total active properties in the Madison County MLS yet only 76 of those are foreclosures. (stats from the MLS this morning...)

Prospective buyers of local foreclosures need to be prepared to, 1) inspect properties before making offers as most of these are offered as-is, where-is and Alabama is a Caveat Emptor (buyer beware) State, 2) be prepared to pull the trigger to make an offer immediately upon finding a good home and, 3) have an available letter of credit or lender pre-approval letter ready to accompany any offer. In many cases the seller is requiring up to 3% in earnest money, too.

Remember that all the formulas of how to calculate an offer price that you may have learned from all the seminars you may have attended are pretty much useless in our market. One investor/filpper I've worked with spent 6 months having me write offers based on those seminar formulas and didn't secure a single home. Then he started understand what a waste of money and time those Atlanta and Los Angeles seminars had been. Now he makes more realistic offers, secures properties and has a good flipping business going.

Healthy Real Estate

Doug Keel (Crye-Leike, Realtors) — Wed, 04 Jun 2008 08:09:38 -0700

One of the most special things about Huntsville, Alabama is that its real estate market is vital and healthy. Property values are increasing, the number of homes to select from is substantial due to the new construction and the loan rates are awesome. This is one of the top markets in which to live and own a home right now.

As the home of the United States' missile development, whether for military or NASA use, this trend is set to continue. Jobs are plentiful and unemployment is low (<3%). About 1 in 10 people is an engineer and I see people wearing t-shirts that say "Why yes, I am a rocket scientist!" Huntsville is the home of the original Space Camp and that facility houses on the Good Morning America's 7 Wonders of America, a real Saturn 5 rocket which is being restored. We'd love to have you as a neighbor!