Find the Perfect House - How's the Market?

First 90 Days Update: The OTM Market is Still Strong!

First 90 Days Update: Over the Mountain Volume is Down, Prices Up

The Over the Mountain real estate market is sending mixed signals, but by historical standards it's still a Seller's market. Sales volume is down 27%. Prices are up 7.8% and Days on Market increased from 3 days during the first 3 months of last year to 4 days, this year.

First 90 Days of 2022

950 homes sold with median days on the market of 3

Average list-to-sales price 101.8%

Average sold price $492,553

First 90 days of 2023

690 homes sold with median days on the market of 5

Average list-to-sales price 99.96%

Average sold price $531,084

During the first 90 days of 2022, 260 more over-the-mountain homes were sold than during the first 90 days of this year.…

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First 60 Days: The Market's Still Strong!

First 60 Days: The Market's Still Strong! 

There are interesting comparisons for the over-the-mountain housing market during the first 60 days of 2022 and 2023. The most important finding is that it's still a seller's market despite the increase in mortgage rates.

2022

534 homes sold with median days on the market of 3

Average list-to-sales price 101.2%

Average sold price $484,819

2023

380 homes sold with median days on the market of 5

Average list-to-sales price 99.27%

Average sold price $528,102

During the first 60 days of 2022, 154 more over-the-mountain homes were sold than during the first 60 days of this year. That's a 29% drop in unit volume. However, the average sales price for homes sold this year was 8.9%…

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Why We're Not Heading for a Housing Bubble

Ten Charts that Show Why We're Not Heading for a Housing Bubble

During the pandemic, it was feared that the large number of borrowers in forbearance would eventually result in tide of foreclosures that would take the down the housing market. The following chart shows that those fears were unfounded.

Chart #2 shows that 81.6% of the borrowers in forbearance have successfully exited.

Chart #3 shows that the crazy loan products (red graph) that existed in the late 90's to the mid 2000's are no longer offered! The orange graph shows that lending standards are far stricter now than they were in the mid 2000's.

Chart #4 Shows that the level of foreclosures is historically very low.

Chart #5 shows that lenders are making nearly as…

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Just Sold for 112% of List Price!

Beautiful 5 Bedroom, 4 Bath Home in Warren's Cove

1661 Warren Lane

Prime location in the Warren Cove Subdivision of Vestavia, this all brick home with beautiful stone detail boasts 5 bedrooms, 4 bathrooms and an ideal floor plan that provides ample space for living and entertaining. The stunning 2 story foyer allows for sun drenched living spaces and highlights the gleaming hardwood floors. The large open kitchen features granite countertops, stainless steel appliances, and center island with seating. Spacious primary bedroom with private ensuite complete with double vanity, glass shower and separate tub. Outside enjoy the covered stone patio that is the perfect place for relaxing after a long day or hosting gatherings with friends. Situated on…

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Just Sold for 106% of List Price!

Beautiful 5 Bedroom, 4.5 Bath Home in Cobble Hill

2600 Cobble Hill Way

This Beautiful home was listed for $599,900 and after receiving multiple offers went under contract for $$635,000.

Located in the gated Cobble Hill Community this spacious 5 bedroom, 4.5 bathroom home offers plenty of space for everyone inside and out. Downstairs features an open layout with living room, formal dining room, gleaming hardwoods, and beautiful kitchen with granite countertops, stainless steel appliances, walk-in pantry and island. The main level primary boasts a large private bath with double vanity and 2 walk-in closets. Upstairs find a 2nd primary, playroom and bonus room great for den or study. Plenty of windows throughout create a bright and beautiful…

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Just Sold for 105% of List Price!

Lovely 3 Bedroom, 2 Bath Home in Cahaba Heights!

3036 Greenview Road

This lovely home was listed at $315,000. After receiving multiple offers, it sold for $330,000!

Location, Location, Location! One Block from Cahaba Heights Elementary School, ball fields, dog park, and Parkside at Dolly Ridge, Cahaba Heights newest restaurant and retail development. This beautifully updated 3 bedroom, 2 bathroom home has a long list of charming features for any new homeowner. Inside, you are greeted with a spacious living room with an all brick fireplace for your enjoyment. In the kitchen you will find tile countertops and backsplash, gas stove and ample cabinet space. The spacious sun drenched bedrooms boast newly refinished hardwood floors. Outside, you…

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Just Sold for 118.8% of List Price!

Just Sold! 118.8% of List Price 3133 Canterbury Place

Incredible 3 bedroom, 2.5 bathroom home located on a highly sought after Cahaba Heights cul-de-sac. This adorable property features beautiful hardwoods and updates throughout. Kitchen boasts sparkling granite countertops, stainless steel appliances, breakfast bar, vaulted ceilings and flows right into the living room which makes this the perfect space for relaxing or entertaining. Main level primary suite invites comfort and exudes modern elegance with shiplap accents, double vanity and large soaking tub. Additional bedrooms are spacious and light filled. Plenty of space to entertain and enjoy the outdoors on the large back deck. Full basement with 2 car garage. Just minutes away from shopping…

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Just Sold for 111% of List Price!

Beautiful 4 Bedroom, 2.5 Bath Home Near Vestavia High School

2232 Gay Way

Situated perfectly on a large beautiful lot, this traditional all brick home offers plenty of living space inside and out. The main level features gleaming hardwoods and a sun filled formal living and dining room perfect for entertaining or day to day living. Kitchen with stainless steel appliances and eat-in area that opens to a spacious covered back deck that makes the transition from indoor to outdoor living a breeze. 4 generous sized bedrooms, 2.5 bathrooms and gracious attic storage. Backyard features a patio area with plenty of privacy from the mature landscaping that surrounds the property. Just minutes away from parks, shopping and Vestavia's award winning schools.

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Pending! 2209 Shady Dell Lane in Vestavia

Under Contract for Well over List Price!

Remodeled to perfection and sitting in the heart of Vestavia on a spacious corner lot, this beautiful home offers an open and inviting floor plan that allows you to entertain effortlessly. Formal dining room drenched in sunlight, living room with cozy brick fireplace, and a stunning kitchen with stainless steel appliances, breakfast bar, subway tile backsplash and ample cabinet storage. Gracious primary suite with tray ceilings offers private ensuite with double vanities, soaking tub, and stylish fixtures. Home offers extra living suite complete with full bath and second kitchen. Outdoor living is easy with a spacious covered back deck, patio area and private back yard. The home boasts two separate driveways…

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Market Outlook: What to Expect for 2022

2021 was one of the best ever for sellers

Last year was one of the best of all-time for over-the-mountain home sellers and at the same time, one of the most challenging years for buyers! The new year will likely be more of the same. The million-dollar question as Mike and Hayden see it- will buyer's income levels keep pace with forecasted mortgage rate increases? If so, home prices will likely continue to rise. If not, the housing market will probably start to cool a little, in line with decreasing affordability.

Rates expected to rise in 2022

Mike Wald believes that, "It's a safe bet that the Fed will work hard to engineer a soft landing in their efforts to lower inflation. If Powell is going to be successful at reducing the rate of inflation…

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