Walker Properties LLC

March Report for Walker Properties LLC-Huntsville, Al

2009-03-04T09:07:00.003-06:00

March has started off with strong sales leads and 3 signed contracts for closing by the end of the month. Pricing has become an issue with many potential purchasers saying that this is a "buyer's market" . This is true to a certain extent, except property in desirable areas and commercial property that has a strong rental history is still commanding top dollar. The old adage more than ever holds true, "Location, Location, Location". It seems that as the economy continues to weaken the market is seeking out a safe harbor in the proven areas of real estate:
residential rentals and small commercial investments. At least that's the way I see it.

Real Estate Market "Thawing" out in Hsv Al

2009-02-17T07:08:00.003-06:00

Our office has seen an uptick in phone, Internet and call-up traffic. We are a "boutique" real estate brokerage that covers commercial and residential sales and management. Starting in September, business noticeably slowed. In October and November we saw a 50% drop in sales calls and leads, ironic but our sales year to year were only slightly down. December, things started picking back up and in January a little more. February has so far been as brisk as 05 or 06. Just a weather report from our market area.

Strong Rental Market In Hsv Al

2008-09-12T12:23:00.002-05:00

Huntsville residential rental market has shown a marked improvement from last year at this time. I've noticed the number of rentals/days on the market have dropped. We are also seeing an increase in rental rates. In most areas we are seeing a $7@ sq.ft rate and in NE and SE areas of Huntsville the rate is closer to $9 @ sq. ft. . It is hard to find month to month house rentals in our area, 1 year leases are the norm and in some highly desirable areas, 2 years is the minimum.

Labor Day Business

2008-09-01T11:23:00.002-05:00

Today, Sept 1st, we are watching the coast and praying for our friends and family in Gustav's way. We are seeing refuges here in our area. In fact the local news this morning showed a couple visiting our Botanical Gardens as they waited out the news from New Orleans. What is a holiday like for a realtor/broker? Well this morning I showed a house to a prospective buyer while my clients were gone to the lake. This afternoon I am meeting with an electrical contractor to co-ordinate a repair for another of my clients. Real estate brokering done right, takes the stress off the owner and makes the process move in an orderly fashion without the snafu's some expect in this business. I am sitting here listening to one of my favorite singer's, Larry Sparks, a truly unique voice in Bluegrass Music.

FHA Loans

2008-08-25T19:20:00.004-05:00

In our office in North Al. we are seeing about 3 out of 5 real estate sales being financed FHA. This by itself is not a problem but it means making your sellers aware that there is an extra inspection of their property to insure FHA compliance. There must be at least 18" of crawl space, no chipping or peeling paint, no cracked glass and all windows and doors in operable condition. No open flame heating as the primary heating source is allowed and there must be a heating system in operable condition. While this is usually not a problem, it is a good idea to make your seller aware of these requirements.

Upturn in Hsv., AL. Market

2008-08-20T10:46:00.004-05:00

The Huntsville market is seeing new signs of life. The days on the market data (MLS) is slowly stabilizing. We are currently at 100 days on the market, which had been climbing nearly every month for the last year is now actually beginning to go down. This translates into Huntsville being a "neutral" market for buyers and sellers, i.e. a healthy, normal market. This is not true in many places but it seems to be holding here. The massive government involvement in our area helps blunt the economic downturn.

Foreclosure Market Down in Huntsville

2008-08-12T09:04:00.002-05:00

With all of the fanfare nationwide about foreclosures, here in the N.Alabama market, we are seeing a downturn. A quick look at the foreclosures offered, show less than 100 houses in the REO category, out of approx 4500 houses for sale. Since the first of the year from all I can tell in my brokerages experience and others, about half the houses sold are being FHA financed. THis translates into having to prepare my sellers for the extra inspections imposed by govt. backed financing. By pointing this out up front, there is no nasty surprises when the home gets a thumbs up from a home inpsector and then the FHA appraiser, has a list of repairs for the "subject to" appraisal. In this enviroment it is prudent to point this out up front to both buyers and sellers.

Signs of Life In Huntsville, Al. Market

2008-05-02T01:00:00.003-05:00

We keep getting more and more new development announcements. On the way right now: a BILLION $$$$ development at the western edge of the city. Bridge Street of course is already functioning and merchant sales are climbing each month, a sign that it is viable. 180+ store development just over Chapman Mountain on the E. Side of Huntsville. Residential sales are holding steady and we just might see an increase in sales this month. Overall I would say we are weathering the downturn nicely. I am working with several clients from the east and west coasts that think our area is the best place to do investing in the whole country!!

Value added services for my clients

2008-04-17T10:23:00.005-05:00

Before/after

I do several of these a year. This particular house was totally renovated. Here are the before and after pictures. What I bring to the table for my clients: if they are considering purchasing a home that needs renovation, I have a grasp and a contact manager full of references.

This project took 45 days and about $30,000. Re-done in and out.

It's Friday and it's Raining

2008-04-04T16:34:00.003-05:00

Here in Huntsville, Al., we have been under drought conditions for the last 18 months. We have had an inordinate amount of rain and we are catching up!! The real estate market is also catching up, after several months of it being quiet, we are now seeing the buyers return to the market. In our office we are having our phone and Internet traffic pick-up considerably. Mortgage availability is the life-blood of sales so we are watching cautiously as this new batch of sales contracts work there way through the loan process. So far, we are not seeing a trend of deals going sour because of mortgage "glitches". FHA loans seem to be the exception, several of those have been moved from automatic approval to manual underwriting. Oh well, I have been doing this for 25 years, all you can do is stay sharp[. As my grand daddy uses to say, "son, keep your powder dry and your rifle scoped"

Buckets of cash

2008-03-30T19:04:00.004-05:00

Investment strategy- real estate
If you think you have waited to late in life to invest in real estate, look at buying and renting houses as buckets of cash. Say you buy a house, and all you have is 5, 10 years left to retirement, buy the house at market, rent it out at $0 or postivie cash flow, then cash it out at the retirement date, whatever gain you have is your bucket of cash, 15,20 or more thousand to roll into securities, buy 2,-5 houses and you could have a potential of several hundred thousand dollars to add to your portfolio. Is it risky? Yes, but so is the stock market, mutual funds etc. I am personally doing this and haave done it over the years and now have my retirement fully funded. I did it by doing this. Just my thought for the day.

My Rant for Today!!!

2008-03-18T17:55:00.001-05:00

My day started at 5:00 AM with the usual quiet time, coffee, read the local paper and WSJ. I started calling my contractors around 6:30 AM getting a roofer lined up for one house, a plumber for another, and etc., typical day. The point I am making to be a realtor in this market is to be a "traffic cop" for the myriad of details that must be attended to on the way to a successful close. Gone are the days, when some realtors, filled out a little paperwork and waited for the attorney's office to call with a close date and time. I believe in being pro-active with my clients, I am like the safari guide; I am out in front pointing out the alligators and snakes that might stop us and figuring out a way around them. I am a people person I enjoy solving problems, that is why when delays or de-railed deals happen, I don't get upset. First of all, you must insulate yourself from the need to close a deal so you can pay your bills. Realtors I have worked with that were "problem" people, usually had financial stress that played a part in their behavior. Well, that's my rant for today.

Mountian Trails- 7 minutes from downtown Huntsville

2008-03-10T08:47:00.002-05:00

One of the best kept secrets of Huntsville, Alabama is it's hiking/biking trail system that strecthes north and south as well as mountian trails for hiking and biking at Monte Sano State Park, which is in the CIty Limits of Huntsville

Doing good -charitable groups

2008-03-05T09:43:00.005-06:00

I believe we must give back at least as much as we take. Living a balanced life helps us make good decisions in all aspects of our lives. Whether we volunteer in local charitable organizations or give money, it is part of the imperative of, first do no harm, then do good if we can. Following are some links to groups that are dedicated to doing good.

http://www.nationalcac.org/ - trains workers to help child abuse victims

http://www.samaritanspurse.org - help in times of disaster

http://www.operationsmile.org/ - free operations for children with disfigured faces

Real Estate Trends in Huntsville, Ala.

2008-02-25T09:47:00.002-06:00

2008 is shaping up to be a "shake-out year" in the Huntsville, AL. real estate market. As home inventories have risen, we are seeing a lot more "personal" marketing of properties among real estate professionals. If you survive this year, I think that 2009 will be a banner year. Many builders have brought a record number of new homes and developments on line ahead of BRAC, for those of you not in the Huntsville area, BRAC is the Base closure and re-alignment project that is pumping over 4,000 new jobs (pick a number) into this area. Trouble is, it is not happening at full steam it is a staggered placement. Many builders jumped the gun to have needed housing on line for this. Now we have excess inventory of mainly new housing. Existing housing inventory is running pretty close to normal, but with the builders offering all kinds of incentives, they are making new homes, in some cases, as affordable as the used.

Well, that's the way I see it any way.