~~On March 13, 2014, the United States Senate voted 72-22 to approve the Homeowner Flood Insurance Affordability Act (H.R. 3370). The Senate acted quickly to pass the bill as amended by the House to avoid the need for a conference committee to reconcile any differences. The new bill further reins in and holds the Federal Emergency Management Agency (FEMA) accountable for the Biggert-Waters implementation issues.

As passed, the bill repeals FEMA’s authority to increase premium rates at time of sale or new flood map, and refunds the excessive premium to those who bought a property before FEMA warned them of the rate increase. The bill limits premium increases to 18% annually on newer properties and 25% for some older ones. Additionally, the bill adds a small assessment on policies until everyone is paying full cost for flood insurance. President Obama is expected to sign the bill into law when it arrives at the White House. NAR had urged a swift vote in the Senate

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An Ashurst and Niemeyer Christmas!

 

T’was the night before Christmas and all through this house,

The Agents are stirring, forget about that mouse!

The signs are all posted, the flyers are sent

In hopes that the bank has money to be lent!

 

The buyers are nestled, all snug in their beds,

With dreams of new houses dancing in their heads.

They know that their agent has things well in hand,

And sleep with the confidence that all is as planned.

 

And Judy is texting, assuring all is well,

While Morgan just closed on a giant Hotel!

Carlton just smiles, as a proud Leader can

And slaps him on the back, and says “Good Man!”

 

Randy is hanging the Shadowwood lights,

While fixing the wiring that’s just not quite right.

Mecia is calming the tenant in Three,

Because the mouse we forgot, just climbed up her tree.

 

Brenda is dialing the number for techs,

The copier exploded, and he says “What the heck!”

“Not to worry!” she cries. “I can fix it myself!”

“I have a new hammer and I don’t need your help!”

 

Theresa and Judy are mailing out cards-

Best wishes to all, and warmest regards!

Camelle and Wayne are holding the fort,

Downtown is most likely where Santa reports!

 

Carol is tallying the list that we’ll mail.

Please Santa, don’t let that closing derail!

Allison, just smiles all cheery and bright,

My photos will help, it’s just the right light!

 

Becky and Marie are on duty calls,

While Nancy and Peggy are decking the halls!

Tamatha runs things at the moment from home,

But Jaime is faithful, so she’s not alone.

 

Spence is off running to find caution cones,

While Steve is out shopping, to find Sandy’s bone.

Staci and Christy, so gentle and kind

Wish all to be merry, and invite them inside.

 

So onward and upward! We all heed the call!

We dash away dash away, dash away all!

The new year is coming! We step out in Faith.

To bless the next family that needs a new place.

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Well 2013 is close to an end and we are getting ready for 2014, can you believe it.

2013 was a great year in Real Estate.  Ashurst&Niemeyer is up 40% year to date in closed sales.  The overall home market closed 1328 homes and 134 are currently under contract.  The average sold price has increased this year with the most active market being below $350,000.  Existing homes are still struggling because all of the new construction.  New construction brings the obvious lower maintenance cost but also reduces insurance rates. 

In 2009, Judy and Morgan attended a real estate conference and Dr. David Bronner was the keynote speaker.  Dr. Bronner predicted that the Alabama real estate market would begin to see a significant improvement in 2013 and his prediction has proven correct.

What do we see in 2014?

Presently, the Spanish Fort to Point Clear market has 745 homes for sale.  Ashurst&Niemeyer feel that the supply will be down this year which will cause prices to increase in the overall market.  Interest rates will continue to rise and will be around 5% in the 4th quarter of next year.  The buyers are still going to be selective in making their final decision but will start to overlook some of the negative in existing homes.  Location and quality of the property will continue to play a big part in the final decision for the buyer. 

So if you are looking to sell your home in 2014, then start de-cluttering and addressing the obvious maintenance issues.  Landscape and fresh paint can dress up any property. 

If you have any questions regarding your house or any in our market, please give Ashurst&Niemeyer a call.

 

Thank you for your continued support and Have a Merry Christmas and Happy New Year