Steve card Need a New Location?
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(205) 807-5200
Steve McTyeire
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Welcome to New Location Realty

Free information without having to fill out a form

Free Rental Home Search

  • New Location Realty will help you with one-on-one free information.

    • Talk with broker about real estate at 205-807-5200

      • Some ways I may be able to help

        • B.S. Marketing   UAB

        • Masters in Business Administration   UAB

        • Alabama Real Estate License Instructor

        • Certifications in several real estate specialties

          • Including foreclosures & short sales to new construction

        • Brokerage Services

 

  • If unable to reach Steve, call Caroline 205-807-8864

 


Where the market was not long ago

  • Anyone could buy a house with no money down, no job or credit

  • Fix & flip a house was the way to make a lot of money fast

  • Sellers could ask any price and soon someone would pay it

    • (the bigger fool theory)

Here is where the market is today

  • It is difficult to buy a home without some money down, a stable job history and good credit

  • Many of the fix & flip houses are in foreclosure

  • Sellers are reducing prices and homes are staying on the market longer

    • Rentals and short sales are now a larger part of the housing market

Supply and Demand are working to get the market back in balance

  • This gives qualified buyers more choices at better prices

    • But, fewer financing options

  • Expectations and speculation ran prices up, and are now readjusting

  • For decades, up until about 2003, home values rose on average about 5% a year

As buyers come back into the market

  • Prices stabilize then slowly increase

    • Excess inventory of homes on the market will fall

    • Foreclosures will no longer be a third of sales

  • More demand for homes causes more demand for financing money which makes rates go up

Builders

  • Builders were building about 3 times as many homes as the market could normally absorb

  • New Construction inventory must get back down to about a 4 months supply


What's going to happen now?


Property Management

For Investors

We can handle all aspects of property management from acquisition, rehab, rental to disposition 

For property owners needing professional management

Do you need help finding a tenant, negotiating a lease, collecting rent or managing the property - Contact us




Call Now 205-807-5200


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©New Location Realty Updated 8/2014

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