It’s National Peanut Festival time again!
October 31st, 2008 - Categories: Dothan Area events
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
Fall is in the air, which means it is getting close to time for the National Peanut Festival to kick-off. The fairgrounds open today at 4 p.m., but the festivities have been going on for over a month, with recipe contests, beauty pageants, and the like.
Events this year include a fireworks show on Saturday, November 1, Bucky Covington in concert on Thursday, November 6, and a demolition derby on Saturday, November 8. Don’t forget the National Peanut Festival Parade on Saturday morning, November 8 as well!
This event typically brings tens of thousands of visitors into the Dothan area, and not only celebrates the significant contribution of agriculture to our area, but is also a huge economic shot-in-the-arm.
Visit the Peanut Festival website for a complete event schedule.
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Country Crossing and the Dothan real estate market
October 30th, 2008 - Categories: Dothan area Real Estate Market information, Dothan area information
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
In case you missed it, dirt has finally been turned on Country Crossing, Alabama’s answer to Branson, Missouri. The project was first announced back in February, and after a couple of delays and a change in location, clearing of the land for the entertainment development just south of Dothan has started. Ground breaking was held this past Monday, and developer Ronnie Gilley says that the first venues will open in the fall of 2009.
What will Country Crossing mean for the Dothan real estate market? If the projections become reality, there will be a lot of positives. Immediately, the influx of construction workers will likely be a boon for the Dothan area rental market. This, coupled with the record number of homes for sale in Dothan, represents an opportunity for real estate investors. This area does not have the people that will be required to build something this big, so those coming here to fill these jobs will be looking for homes to rent.
Longer term, the employees of the various restaurants, hotels, and such will need more permanent housing. This will likely mean an increase in home sales around Dothan and hopefully a continued rebound in the new construction market. Granted, these jobs will not be the highest paying in Houston County, but Gilley has said they will not be typical retail/service type jobs paying just above minimum wage.
There is the potential of more related development in the vicinity of Country Crossing, which will likely mean property values for commercial property will be going up, perhaps significantly. We have already seen some speculative pricing going on, and now that construction seems to be moving full speed ahead, expect more.
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Monday Market Snapshot - October 27, 2008
October 27th, 2008 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
| Homes on market | 1012 | DOWN |
| Median List price | $169,850 | DOWN |
| Avg $ per sq ft | $95.80 | DOWN |
| Avg days on market | 150 | UNCHANGED |
| Least expensive listing | $10,000 | UNCHANGED |
| Most expensive listing | $2,500,000 | UNCHANGED |
| Pending sales | 131 | UP |
| Sales last 7 days | 9 | UNCHANGED |
Takeaways
- The number of homes for sale in Dothan dropped slightly this week, after rising just over 3% since the first of October
- Median list price has dropped to its lowest level in since we started weekly tracking back in early July
- The number of pending sales is relatively steady, although the number of homes sold has been in the single digits for three weeks in a row
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The Mayor is optimistic, and so am I
October 24th, 2008 - Categories: Dothan area Real Estate Market information, Real Estate News
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
Dothan Mayor Pat Thomas is optimistic about the likelihood of continued growth in Dothan, including areas on the south and east side of town where expansion has been slow to occur in the past. While the Mayor is talking mostly about retail and business, I am almost as optimistic as he is when it comes to the Dothan real estate market. Here’s why.
Dothan home sales are steady
Even though home sales are down about 11% from last year, that drop-off is not even close to what some real estate markets are experiencing, even some areas in Alabama. According to the Birmingham Business Journal, home sales in Birmingham are down 27 percent from 2007, and statewide the number is 22 percent. The median price here in our area, as well as Alabama as a whole, is down only a fraction of a percent for the year.
Dothan is growing
Mayor Thomas points out that Dothan is one of only a couple of Alabama cities to show positive population growth in 2008. More people moving in means more homes sold or rented, as well as business and retail expansion, creating jobs. As long as Dothan continues to be the largest city within a 75 mile area, and people drive here to shop, eat, and go to the doctor, this trend will probably not change.
Dothan new home construction starts are up
The number of new home construction permits issued in the third quarter was up nearly 36% over the same period in 2007. New home sales are up too, about three percent for the first nine months of 2008, compared to the same period in 2007. You won’t find these same trends in many other real estate markets.
There is no doubt some uncertainty where the economy is headed. But most of the signs point to Dothan being somewhat isolated from the problems occuring in other parts of the state and country.
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Video Tour - 104 Mill Ridge Road, Dothan
October 23rd, 2008 - Categories: Video Tours - homes for sale in Dothan
By: Michelle Beasley
REALTOR® Associate
http://www.dothanhomesearch.com
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New Retail Development coming to east Dothan
October 21st, 2008 - Categories: Dothan area information, Real Estate News
By: Judy Spears
Broker Associate, CRS, ABR, GRI, CNHS
http://www.judyspears.com
The Dothan Planning Commission last week approved a Preliminary Plat for Dothan Village, an 80+ acre retail development near the intersection of North Beverlye Road and East Main Street. The size is comparable to Dothan Pavilion located on the north side of Dothan on Montgomery Highway. No list of potential tenants was released, but with the continued growth on this side of town, expect to see some big name retailers looking to move in.
In other action, the Planning Commission also approved a major remodeling of Northside Mall. The entire structure between Home Depot and Steinmart will be leveled and rebuilt, according to the plans submitted. There was no mention of what will happen to current tenants such as Books-a-million and Goody’s during construction. Also, plans for a new apartment complex located in the 2600 block of Montgomery Highway were re-approved. This item had originally be approved over a year ago, but had expired.
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Monday Market Snapshot - October 20, 2008
October 20th, 2008 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
| Homes on market | 1016 | UP |
| Median List price | $169,900 | DOWN |
| Avg $ per sq ft | $96.21 | DOWN |
| Avg days on market | 150 | UP |
| Least expensive listing | $10,000 | UNCHANGED |
| Most expensive listing | $2,500,000 | UNCHANGED |
| Pending sales | 128 | DOWN |
| Sales last 7 days | 9 | UP |
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Dothan real estate market - October Sales report
October 16th, 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
The Dothan real estate market has always seemed to me to buck the trends seen in other markets. There are several reasons for this, including our diverse economy and our proximity to other larger cities. So, while sales are slow in other markets, the number of houses sold in Dothan in the third quarter was actually up slightly compared to the third quarter of 2007 (319 homes to 310). Whatever the reason, the real estate market in the Dothan, Alabama area is still fairly healthy at this point in time.
As expected this time of year, pending homes sales have dropped off. There are 131 homes listed in pending status this week, down from the 150 or so we had in mid September. 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. Median selling price so far this year is $132,500, which is down just slightly from last year’s $133,000.
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 Real Estate Market Reaches Milestone
October 14th, 2008 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
While everything else is dropping, like the price of gas, sales tax collections, and the stock market, the number of homes for sale in the Dothan area has risen to over 1,000.
Upon reading yesterday’s Monday Market Snapshot, I’m sure you noticed that the number of homes on the market had risen to 1,002 (the number is up to 1,008 this morning). There has never been this many homes for sale in Dothan.
Just to give you an idea of what is out there-
If you are looking for a home in the $100,000 to $120,000 price range, there are currently over 80 homes for you to choose from.
If you are looking in the $200,000 to $225,000 price range, you’ve got over 50 houses to consider
If you have to have a four bedroom home in the Dothan area, you’ll have to wade through almost 250 listings to narrow down your choices.
How high will it go? What does it mean for home sellers? Stay tuned…we’re going to talk about that.
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Monday Market Snapshot - October 13, 2008
October 13th, 2008 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
| Homes on market | 1002 | UP |
| Median List price | $171,523 | UP |
| Avg $ per sq ft | $96.79 | UP |
| Avg days on market | 149 | UNCHANGED |
| Least expensive listing | $10,000 | UNCHANGED |
| Most expensive listing | $2,500,000 | UNCHANGED |
| Pending sales | 131 | UP |
| Sales last 7 days | 7 | DOWN |
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