Birmingham, AL Real Estate Market Improving According to Tom Brander’s Alabama Real Estate Market Trends website the Birmingham, Alabama area was 6% ahead of last year in dollar sales as of mid year. In addition to an increase in total dollar sales there has been an increase in the number of homes sold, including new […]
A look at the decline in Birmingham, AL foreclosures
June 18, 2014 By Leave a Comment
Whenever anyone asks me how the real estate market is doing in the Birmingham, AL area I am quick to point out that while there is still a long way to go before we get back to the glory days we do have some good things happening. Up until about 12 months ago, whenever I […]
A look at the housing inventory in Shelby County- Is there a shortage of houses?
June 3, 2014 By 2 Comments
It seems like the big topic these days in the Birmingham area real estate market is housing inventory. I cover the Shelby County area quite a bit so I thought I would take a look at the current housing inventory in Shelby County and see if there is a shortage of houses for sale. At […]
How do appraisers determine if there is an oversupply or shortage of homes?
April 30, 2014 By 2 Comments
Talk is that there is starting to be a shortage of homes for sale in the real estate market, and in case you missed your basic economics course supply and demand play a big part in home prices. To refresh your memory: If the supply of a good (ie homes) is reduced, and the demand remains the same or increases then the price will most likely increase. If there really is a shortage of homes then home prices will probably be affected, so it is very important for the appraiser to be able to determine if there is a shortage or an oversupply of homes. I thought I would share with you how appraisers go about making this determination.
How do appraisers work in an appreciating market?
April 25, 2014 By Leave a Comment
I’ve been asked how appraisers account for value changes in an appreciating market, so I thought I would share with you how appraisers approach this situation. Some people believe that due to recent shortages in inventory that home values are starting to show appreciation, however I think that these occurrences are not widespread and do […]
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