Monday Market Snapshot - September 29, 2008
September 29th, 2008 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
| Homes on market | 987 | UP |
| Median List price | $169,900 | DOWN |
| Avg $ per sq ft | $97.15 | UP |
| Avg days on market | 151 | DOWN |
| Least expensive listing | $12,000 | UP |
| Most expensive listing | $2,500,000 | SAME |
| Pending sales | 142 | UP |
| Sales last 7 days | 12 | UNCHANGED |
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Taking the conversation online - Dothan connects!
September 26th, 2008 - Categories: Just for Fun, Real Estate Technology
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
Depending on who you ask, I spend varying amounts of time online. It’s been that way for years. I often think back to one of the first social networks on the web, called Virtual Places, when I am online, and how social networking has changed as the Internet has evolved. Here are a few of the networking sites that I frequent and a short overview of how I use them, both personally and for business.
LinkedIn is about business networking. In fact, LinkedIn makes a great database of contacts for just about any need a business person might have. I’ve been able to connect with other business professionals around Dothan and all over the world on LinkedIn.
Facebook for me is about fun. I connect with family, friends, and other real estate professionals from around the country to just hang out and talk about life. While business is integrated in with my facebook presence through our Dothan real estate blog updates, facebook is more about connecting with people and carrying on a casual conversation while stepping outside of my real estate broker shoes.
You’ll find me on facebook HERE
Twitter is a lot like text messaging, only with a broadcast element added. Your updates, called “tweets” by some, are seen by all your “followers”, which is people that want to receive your updates and follow what you are doing. I use twitter for a couple of purposes. First, to have quick, informal conversations with my peers in the real estate industry as well as acquaintances around our area and the rest of Alabama, and second, to deliver bits of information about the Dothan real estate market that might not justify a full post here on Dothanhomesearch.com. I must say I have come to appreciate the usefulness of Twitter, after being skeptical in the beginning.
Interested in joining the conversation on twitter? Look me up at www.twitter.com/cwoodall. You can also follow the company on twitter at www.twitter.com/dothanhomesearc (no H on the end)
Wiregrass Live
Wiregrass Live is THE discussion forum for all things related to living in southeast Alabama. There is a forum for not only Dothan, but Enterprise, Ozark, and the Daleville - Fort Rucker area are included as well. There is typically a wide range of topics on everything from politics to tipping the Sonic Drive-in car hops! The discussion is always lively, and there are some every well connected people that post on Wiregrass Live.
You’ll find me on Wiregrass Live under the username…wait for it…dothanhomesearch.
Dothan Voice
Dothan Voice is kind of like southeast Alabama’s own little Facebook. It’s a online community complete with personal blogs, picture and video posting, and instant messenger. Now with over 1500 members, Dothan Voice is growing steadily and is a great place to connect online with local people. Look for me there by going HERE !
How do you use these or other social networking sites? Let us know by commenting below, and I’ll see you online!
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Dothan Neighborhoods - Whitfield Estates
September 25th, 2008 - Categories: Dothan Neighborhoods
By: Gloria LeFebvre
REALTOR® Associate
http://www.dothanhomesearch.com
Whitfield Estates is located on South Brannon Stand Road and is adjacent to The Highlands and Highland Oaks golf course. The feature that immediately catches your eye as you enter Whitfield Estates is the landscaping. The entrance is nicely landscaped, and A row of mature Bradford Pear trees line the divided main street, and a row of mature Bradford Pear trees line the divided main street.
The Whitfield Ladies Club is very active in sponsoring seasonal activities that include the entire neighborhood. A neighborhood-wide yard sale is held annually, and Easter egg hunts and Halloween festivals are as well. The neighborhood homeowner’s association gives out awards for landscaping and lawn care on a regular basis. Speaking of the HOA, dues are kept low (currently under $100).
More on Whitfield Estates
- Approximately 124 homes
- Subdivision is completely built-out
- Home sizes start from 1600 sq. ft., which was the original minimum in 1988, and 1950 sq. ft. which is the new minimum
- Brick is primary construction material
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The Truth about the Dothan real estate market
September 24th, 2008 - Categories: Buying a home in the Dothan area, Dothan area Real Estate Market information, Selling a home in the Dothan area
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
Wading through all the news related to the stock market, failing financial institutions, and other problems, and how it effects you as a Dothan home seller, home buyer, or just a real estate owner:
- Mortgage rates have dropped at least 1/2 percent since Labor Day, and almost everything is below 6% now. Yes, lenders have tightened their lending standards, but folks with good credit history and a little money to put down can get a loan. Don’t let anyone tell you otherwise.
- Dothan real estate is still a good long-term investment. The median selling price year-to-date is $132,500. Median price in 2007 was $133,000. Median selling price in 2000 was under $110,000.
- An FHA mortgage is still the prevalent means of financing here in southeast Alabama. Down payment assistance programs are going away at the end of September, although hopefully only temporarily. This development is going to have an adverse effect on the Dothan real estate market, since upwards of 10% of all home buyers last year used one of these programs. The $7,500 tax credit for first-time homebuyers will help some, but we need Ameridream, American Family Funds, and Neighborhood Gold to come back. Contact your legislator.
What do you need to do if you have a home for sale? It sounds like a broken record, but truthfully the best weapons you have are a competitive price and an appealing property. Homes that are priced right and in superior condition are selling.
What do you need to do if you are a home buyer? If you are already approved for your mortgage, then its time to write an offer. If you aren’t pre-approved, you need to be.
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September Dothan Planning Commission meeting
September 22nd, 2008 - Categories: Dothan area information
By: Judy Spears
Broker Associate, CRS, ABR, GRI, CNHS
http://www.judyspears.com
The Dothan Planning Commission held their monthly meeting on Wednesday, September 17. Here is a list of noteworthy items on the agenda and the status of each.
- Development plans were approved for B-2 District at the entrance to Grove Park Subdivision on West Main Street. A single-story, thirty feet tall building will be built on the site for business and office use.
- Development plans were approved for APCO Employees Credit Union to be built at 2220 Montgomery Highway.
- Development plans were approved for Staybridge Suites to be built at 5100 Montgomery Highway. This will be the latest of several hotels to be built in this area of northwest Dothan and will be located in front of Dothan Pavilion.
- The rezoning of over 10 1/2 acres on Redmond Road from TH-24, a residential district, to B-3 and O-1, business districts, was approved. No development plans were presented at this time, so we will have to wait and see what the plans are for this property in northwest Dothan.
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Monday Market Snapshot - September 22, 2008
September 22nd, 2008 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
| Homes on market | 963 | UP |
| Median List price | $171,900 | UP |
| Avg $ per sq ft | $97.11 | UP |
| Avg days on market | 153 | UNCHANGED |
| Least expensive listing | $10,000 | SAME |
| Most expensive listing | $2,500,000 | SAME |
| Pending sales | 139 | DOWN |
| Sales last 7 days | 12 | DOWN |
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Dothan real estate market - September Sales report
September 19th, 2008 - Categories: Buying a home in the Dothan area, Dothan area Real Estate Market information, Inside the numbers, Selling a home in the Dothan area
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
For the second month in a row, Dothan area homes sales were up compared to numbers from 2007. A total of 106 homes sold in August, compared to 103 last year. Fall is typically a slow down time, so I don’t expect this trend to continue.
The number of pending home sales has been fairly stable over the past couple of months, running at about the 150 mark. Pending sales are the best indicator of future activity, and usually correlate closely with sales figures 30–60 days out.
Year-to-date, Dothan area home sales are running about 10% behind last year, with numbers comparable to 2003–2004 sales.
I’ll have a report on inventory and absorption rates next week.
If you are reading this and wondering if it is a good time to buy or sell a home in Dothan, then we need to talk. Pick up the phone and call me at the office, 334–793–6990, or on my cell, 334–596–0808. I’m not going to give you a hard sell or anything like that, we will just talk about your situation and try to figure out what is best for you right now. Sound fair?
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Dothan Neighborhoods - Odom Woods
September 16th, 2008 - Categories: Dothan Neighborhoods, Dothan area Real Estate Market information
By: Michelle Beasley
REALTOR® Associate
http://www.dothanhomesearch.com
Odom Woods Subdivision, located in northwest Dothan, blends style, convenience, and price all in one nice package. Located on John D. Odom Road between Murphy Mill Road and Montgomery Highway, Odom Woods is one of the few neighborhoods in Dothan where many natural areas and mature trees were left during construction. This mature landscaping creates a natural buffer with surrounding development, keeping this neighborhood very quiet. There is also no through street, so traffic is light and confined to residents.
Around 50 families call Odom Woods home. The new Dothan Pavilion Shopping Center is practically across the street, and there are several other shopping areas, including a Super Walmart close by. Troy University at Dothan is less than a ten minute drive, as is Flowers Hospital. Recreational areas such as Westgate Park are only a short drive away as well. Odom Woods is also convenient for those stationed or working at Fort Rucker, and is less than 15 minutes from the Dothan Regional Airport.
- Average price - most recent sales - $287,200, or around $110 per square foot.
- Home sizes range from 2000 - 3000 square feet
There are currently no homes listed for sale in Odom Woods, which speaks to the popularity of this area. If you would like to be notified when a home comes on the market in this neighborhood, drop me an email at michelle(at)c21keyrealty(dot)com, or give me a call at 334-333-1609.
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Monday Market Snapshot - September 15, 2008
September 15th, 2008 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
| Homes on market | 943 | Down |
| Median List price | $170,000 | Unchanged |
| Avg $ per sq ft | $96.83 | Down |
| Avg days on market | 153 | DOWN |
| Least expensive listing | $10,000 | SAME |
| Most expensive listing | $2,500,000 | SAME |
| Pending sales | 150 | UP |
| Sales last 7 days | 13 | UP |
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Weekend Links - Residential construction slow, foreclosures up, and a couple of surprises
September 13th, 2008 - Categories: Just for Fun, Real Estate News
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
Judy reported earlier this week that new home construction starts in Dothan were up slightly in August compared to 2007. Nationwide however, residential construction is down to its lowest level since 2001.
Meanwhile, foreclosures in August were up in Alabama about 30% over August 2007, but down slightly from July, according to The Birmingham Business Journal and RealtyTrac.
A couple of interesting stories here - Alabama’s State Government web portal has received the Center for Digital Government’s “Best of the Web” award for 2008. Alabama.gov is one of six state web portals receiving the honor. And in a related story, Alabama is the the only state government to make CIO Magazine’s top 100 institutions for excellence in information technology.
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