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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