Buying Your Madison or Huntsville Alabama Home..Was It A Good Decision

By
Real Estate Agent with Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Huntsville AL

Buying your Madison or Huntsville Alabama home..was it a good decision?

Personal experience based on my knowledge of the Madison County Alabama area sales statistics says; yes, it was definitely a good decision to purchase a home in the Madison or Huntsville Alabama area. According to a recent study by the National Association of Buying Your Madison or Huntsville Alabama Home..Was It A Good DecisionRealtors® (NAR), most people living in the United States would answer that question affirmatively.

Start your own Madison County home search.

The 2013 National Housing Pulse Survey revealed that eight out of ten Americans believe home ownership is a good financial choice. The study further revealed that more than half of renters (51%) list homeownership as one of their highest future priorities and that 36% of those surveyed were thinking of currently buying a home, which is great news if you have been considering selling your home.

According to NAR President Gary Thomas, “Homeownership matters to Americans who consistently realize the many benefits it provides to communities, families and the nation’s economy. Due to high housing affordability and today’s interest rates it makes sense for people to consider homeownership over renting. In fact, in many parts of the country it’s cheaper to own a home than to rent one. That's no less true here in the Madison or Huntsville Alabama Area. Therefore, it’s no surprise that renters recognize that owning a home offers tremendous long-term benefits and is an investment in their future.”

Lower Interest Rates Make Your Home More Affordable

Interest rates dropped again this week, with the average 30-year fixed rate mortgage showing at 4.31% (.8 point), making housing even more affordable. Inventory is more available in many areas and according to the Pulse Survey, residents are noticing it. 38% of respondents shared that they had seen as increase in their local housing market activity and in pricing.

Income to debt ratios remain a challenge for many home buyers. “Student loan debt is a concern for many consumers in today’s market, especially first-time buyers,” related Thomas. “Buyers with student loan debt may find it difficult to access mortgage credit, as well as save for a down payment. Pending mortgage finance regulations requiring higher down payments could also contribute to the already tight lending environment. Realtors® are working with regulators to address this issue and are committed to making sure those who are willing and able to own a home have the opportunity to pursue that dream.”  Pursuing that dream is exactly what many new home buyers are doing as Madison County Alabama sales reported to our MLS for the first half of 2012 shows 1,838 home sales for a reported volume of $334,974,724 and the first half of 2013 reported 1,909 home sales for a volume of $348939,922.

American Strategies and Myers Research & Strategic Services conducted the 2013 National Housing Pulse Survey for NAR’s Housing Opportunity Program and polled 2,000 adults nationwide. The study reports a margin of error of plus or minus 2.2 percentage points. View the study results here.

So what do you think about buying your Madison or Huntsville Alabama Home..was it a good decision?  Send me an email and let me know your opinion.

Madison County Homes For Sale

Nick T Pappas

If you need a knowledgeable real estate professional in Madison or Huntsville Alabama area, why don't you let me Google that for you! I also know outstanding agents in all states and Canada should you need help relocating to a new area.

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Rainmaker
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Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Nick,

With interest rates this low it makes good financial sense to purchase if you can afford it. I always tell me clients if they buy smart and pick there spots to sell they will make money. Good stuff. 

Jul 29, 2013 07:40 AM #1
Ambassador
3,779,801
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nick can't beat owning your own home, and you are the Realtor of choice in Madison or Huntsville Alabama to help a Buyer purchase the home of their dreams.

Jul 29, 2013 07:41 AM #2
Rainmaker
1,223,014
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Great jog with this info and post, Nick.  We're seeing much the same reports here in Chicagoland as of late ... finally!  The market is healing and prices are finally bouncing back.  Rates are still low ... why not at least ASK about options or start down the path??  Hope the good news continues for us all ..

Gene

Jul 29, 2013 11:00 AM #3
Ambassador
2,188,872
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

There is nothing like that feeling of owning your own home. I still remember when we bought out first place. That feeling was amazing.

Jul 29, 2013 11:21 AM #4
Rainmaker
4,064,203
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nick, great way to get the news out, and maybe prompt some renters into the first step of home ownership!   This was a great survey to read.

Jul 29, 2013 10:24 PM #5
Rainmaker
1,315,308
Nick T Pappas
Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Hun... - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Adrian-yes, while rates are still low and before the inevitable rise in home values.

George-thank you, I don't think buyers are completely aware of the "bundle of rights" and security that comes with home ownership.

Gene-as you probably know I have a home in Northern Illinois and also am a licensed Managing Broker there plus after reading your posts I do know that things are looking more positive for the Chicagoland area.  So, I agree that starting the process by "ASKING" about options is a good foot forward.

Debbie-I remember my first home as well...great feeling...I actually did a post about buying/remembering your first home....http://actvra.in/YZB

Joan-I thought the survey was very telling and informative.

Jul 29, 2013 11:20 PM #6
Rainmaker
618,509
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Raleigh - Cary Triangle Real Estate 919-602-8489

Nick, as always, another good post. It will be interesting to see how the past several years are perceived once we're well past it. 

Jul 30, 2013 11:26 PM #7
Rainmaker
2,004,258
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Nick,

You provide excellent information to consumers and your knowledge and expertise is at the top of the class. It's obvious to me you know what you're talking about and those buyers and sellers you represent are in very good - no great hands!

Aug 01, 2013 06:15 AM #8
Rainmaker
760,602
Steve and Jan Bachman
RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax - Herndon, VA
Realtors - Northern Virginia

With low interest rates and the mortgage interest rate deduction off your income tax, buying a place makes monetary as well as lifestyle sense if you have decided to put down roots a while.

Aug 01, 2013 11:38 PM #9
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Rainmaker
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Nick T Pappas

Madison & Huntsville Alabama Real Estate Resource
Call or email me anytime with your questions.
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