Tag: Phenix City Real Estate

This is your 2024 September Market Update  for our local real estate market from Kim Mixon w/ The Kim Mixon Real Estate Team and Dustin Steele with Northpointe Bank. Watch the video below for a “deep dive” into the details for closed sales so far in 2024  as compared to 2023 and some interesting updates about rates and their impact on the market. ????  Check on the video below to hear all the latest from Kim & Dustin… 2024  Stats for Muscogee & Harris Counties (GA) Jan 1- August 31: Closed Sales 2024= 1759     2023= 1752 Average Sales Price 2024=  $270,300     2023=  $254,000 Average List to Sale Price %  After Price Reductions (final list price)   2024=  98.1%    2023=  98.8% Average Days on Market 2024=  37    2023=  37   2024 Stats for Russell & Lee Counties (AL) Jan 1- August 31: Closed Sales 2024= 860     2023=  916 Average Sales Price 2024=  $279,00     2023=  $266,200 Average List to Sale Price %  After Price Reductions (final list price)   2024=  99.54%    2023=  99.57% Average Days on Market 2024=  35    2023=  35     **All of this data is as provided

If you’re thinking about buying or selling a home, you’ve probably got mortgage rates on your mind. That’s because you’ve likely heard that mortgage rates impact how much you can afford in your monthly mortgage payment, and you want to factor that into your planning. Here’s what you need to know. What’s Happening with Mortgage Rates? Mortgage rates have been trending down recently. While that’s good news for your homebuying plans, it’s important to know that rates can be unpredictable because they’re affected by many factors. Things like the economy, job market, inflation, and decisions made by the Federal Reserve all play a part. So, even as rates go down, they can still bounce around a bit based on new economic data. As Odeta Kushi, Deputy Chief Economist at First American, says: “The ongoing deceleration in inflation, coupled with the Federal Reserve’s recent indication of potential rate cuts [in 2024], suggests an environment supportive of modest declines in mortgage rates. Barring any unforeseen circumstances and resurgence in inflation, lower mortgage rates could be on the horizon, but the journey towards them might be slow and bumpy.” How Do These Changes Affect You? When mortgage rates change, it affects how much

The housing market is going through a transition. Higher mortgage rates are causing more moderate buyer activity at the same time the supply of homes for sale is growing. And if you aren’t working with an agent, you may not realize that. Here’s the downside. If you’re not informed, you can’t adjust your strategy or expectations to today’s market. And that can lead to a number of costly mistakes. Here’s a look at some of the most common ones – and how an agent will help you avoid them when you sell. 1. Overpricing Your House Many sellers set their asking price too high and that’s why there’s an uptick in homes with price reductions today. An unrealistic price will deter potential buyers, cause an appraisal issue, or lead to your house sitting on the market longer. An article from the National Association of Realtors (NAR) explains: “Some sellers are pricing their homes higher than ever just because they can, but this may drive away serious buyers and result in unapproved appraisals . . .” To avoid falling into this trap, partner with a pro. An agent uses recent sales of similar homes, the condition of your house, local market trends, and so much more to find the price that’ll attract more buyers and

Navigating the housing market can be tricky, especially these days. That’s why having an experienced guide when buying or selling a home is so important. The market isn’t exactly straightforward right now, and working with a real estate expert can offer insights and advice that make all the difference. While today’s market conditions might seem confusing or overwhelming, you don’t have to handle them alone. With a trusted expert leading you through every step, you can navigate the process with the clarity and confidence you deserve. Here are just a few of the ways a real estate expert is invaluable: Contracts – Agents help with the disclosures and contracts necessary in today’s heavily regulated environment. Experience – In today’s market, experience is crucial. Real estate professionals know the entire sales process, including how it’s changing right now. Negotiations – Your real estate advisor acts as a buffer in negotiations with all parties, and advocates for your best interests throughout the entire transaction. Industry Expertise– Knowledge is power in today’s market, and your advisor will simply and effectively explain processes, market conditions, and key terms, translating what they mean for you along the way along the way­. Pricing – A real estate professional understands current real estate values when setting the

This is your 2024 Mid-Year Market Update  for our local real estate market from Kim Mixon w/ The Kim Mixon Real Estate Team and Dustin Steele with Northpointe Bank. Below is a “deep dive” into the details for closed sales so far in 2024  as compared to 2023 and some interesting updates about rates and their impact on the market. ????  Check out the additional stats below… 2024  Stats for Muscogee & Harris Counties (GA) Jan 1- June 30: Closed Sales 2024= 1297     2023= 1266 Average Sales Price 2024=  $266,700     2023=  $250,000 Average List to Sale Price %  After Price Reductions (final list price)   2024=  98%    2023=  99% Average Days on Market 2024=  40    2023=  39   2024 Stats for Russell & Lee Counties (AL) Jan 1- June 30: Closed Sales 2024= 529     2023=  594 Average Sales Price 2024=  $275,00     2023=  $262,500 Average List to Sale Price %  After Price Reductions (final list price)   2024=  99.72%    2023=  99% Average Days on Market 2024=  35    2023=  37     **All of this data is as provided in the Columbus Board of Realtors and East Alabama Board of

This is your 2024 June Housing Market Update  for our local real estate market from Kim Mixon w/ The Kim Mixon Real Estate Team and Dustin Steele with Northpointe Bank. Below is a “deep dive” into the details for closed sales so far in 2024  as compared to 2023 and some interesting updates about rates and their impact on the market. ????  Check out the additional stats below… 2024  Stats for Muscogee & Harris Counties (GA) Jan 1- May 31: Closed Sales 2024= 1059     2023=  1047 Average Sales Price 2024=  $263,800     2023=  $243,700  This is an increase in average sales price of 8.24% ???????????? Average List to Sale Price %  After Price Reductions (final list price)   2024=  97.94%    2023=  98.73% Average Days on Market 2024=  41    2023=  14   2024 Stats for Russell & Lee Counties (AL) Jan 1- May 31: Closed Sales 2024= 519     2023=  535 Average Sales Price 2024=  $270,600     2023=  $255,500  This is an increase in average sales price of 6% ???????????? Average List to Sale Price %  After Price Reductions (final list price)   2024=  99.1%    2023=  99.3% Average Days on Market 2024=  37