December's Lender Spotlight shines on Debra Alford, a top performer with First Federal Mortgage's Tuscaloosa branch
Alabama residential sales during the third quarter of 2016 continued to improve, up 3.7 percent compared to the same period a year earlier, according to the most recent sales report from Alabama Center for Real Estate (ACRE). Total sales of 15,032 units represent the best third quarter since 2007. With that said, third-quarter sales are still 9.8 percent below the quarterly peak established in 2005, when 16,674 units were sold.
Thomas Patterson of Montgomery Metro Realty in Montgomery is the subject of our October Realtor Spotlight.
AHFA has updated the maximum family income limits used for the Mortgage Credit Certificate program, effective September 1. The newly revised income limits were released by the U.S. Department of Housing and Urban Development and are based upon the state's median income, which is $55,500. Home buyers can earn up to $83,250 in urban areas and $77,700 in rural areas, depending on family size and location.
More new homes were sold nationally in July than in nearly a decade. Signs are pointing to a healthier housing market. Thank millennials and thank homebuilders who are starting to produce more of the starter houses young people demand.