Is the Stock Market Rally Affecting Over-the-Mountain Home Prices?
Posted by Mike Wald on
Is the Stock Market Rally Affecting Over-the-Mountain Home Prices?
Tuesday Note: Lessons from helping more than 1,800 families
One question Hayden and I keep coming back to lately: is the stock market rally quietly reshaping the over-the-mountain housing market? We think the answer is yes — and we're seeing it most clearly in Mountain Brook, Vestavia, and parts of North Shelby, especially when a truly special property comes along.
Most homes in our market are still selling within a few percent of asking. That's normal in a competitive market with limited inventory. But almost every week, we see something very different. A trophy property hits the market, and the final number is dramatically higher than expected.
Not 5% over list. Sometimes…
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For years, homeowners have been told that swimming pools are a poor investment. They're expensive. They're hard to maintain. They'll make your house harder to sell.
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