GayRealEstate USA

Around the Nation 2009 - Alabama

By Jeff Adolph

LGBT Residential Real Estate

Early-to-mid last year, I wrote a state-by-state series that highlighted the real estate trends in LGBT areas of each region. I believe that the market has changed substantially since then, so I think it is about time to re-visit these regions and see how the market is fairing.

Birmingham - Alabama

There are currently more sellers than buyers in this region and homes are typically sitting on the market for 90 to 120 days before selling. There is little or no change in market trends since the begining of this year, however the median price for this region has fallen from $273,000 to $240,000, and the market price is estimated to have decreased by 5-10% since we visited this region last year. But, buyers are getting 95-100% of their asking price.

The area of greatest activity is repeat buyers, and market hotspots in this region are Liberty Park, Greyeton, Inverness, Meadowbrook, Forest Park, Southside and Mountain Brook.

 

Hunstville

There are more buyers than sellers in this region of Alabama and the market trend is increasing. Homes are typically sitting on the market for 90 to 120 days before selling and their is a good supply of homes.

The median price in Huntsville is approximately $156,000 and prices in the region have risen by as much as 5%. Most home sellers are getting 95-100% of their asking price and some are even seeing multiple offers. This is attributed to repeat buyers, and job growth in the area.

There are no hotspots on record for this region.

Madison

There is an equal number of buyers and sellers in this area of Alabama, and homes are sitting on the market for 20 to 60 days before being snapped up.

This region has an increasing market trend with a good supply of homes in some price brackets. The median price for Madison is approximately $183,000 and home prices have risen by 5-10%.

Sellers are seeing multiple offers and getting 95-100% of their asking price.

Single-family homes seem to be the greatest movers and there are no hotspots in this region on record.

Main Story Source: House Hunt (2008) Real Estate Market Trends; available online at http://www.househunt.com

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By Jeff Adolph

LGBT Residential Real Estate

Early-to-mid last year, I wrote a state-by-state series that highlighted the real estate trends in LGBT areas of each region. I believe that the market has changed substantially since then, so I think it is about time to re-visit these regions and see how the market is fairing.

Birmingham - Alabama

There are currently more sellers than buyers in this region and homes are typically sitting on the market for 90 to 120 days before selling. There is little or no change in market trends since the begining of this year, however the median price for this region has fallen from $273,000 to $240,000, and the market price is estimated to have decreased by 5-10% since we visited this region last year. But, buyers are getting 95-100% of their asking price.

The area of greatest activity is repeat buyers, and market hotspots in this region are Liberty Park, Greyeton, Inverness, Meadowbrook, Forest Park, Southside and Mountain Brook.

 

Hunstville

There are more buyers than sellers in this region of Alabama and the market trend is increasing. Homes are typically sitting on the market for 90 to 120 days before selling and their is a good supply of homes.

The median price in Huntsville is approximately $156,000 and prices in the region have risen by as much as 5%. Most home sellers are getting 95-100% of their asking price and some are even seeing multiple offers. This is attributed to repeat buyers, and job growth in the area.

There are no hotspots on record for this region.

Madison

There is an equal number of buyers and sellers in this area of Alabama, and homes are sitting on the market for 20 to 60 days before being snapped up.

This region has an increasing market trend with a good supply of homes in some price brackets. The median price for Madison is approximately $183,000 and home prices have risen by 5-10%.

Sellers are seeing multiple offers and getting 95-100% of their asking price.

Single-family homes seem to be the greatest movers and there are no hotspots in this region on record.

Main Story Source: House Hunt (2008) Real Estate Market Trends; available online at http://www.househunt.com

Image Source: Microsoft Clipart

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Home Affordability in Alabama at its Best in 16 Years

By Jeff Adolph

Residential Real Estate

According to a recent article published in the Birmingham Business Journal, the University of Alabama's Center for Real Estate has stated that home affordability has broken another index record, and that it is at its best 'level in 16 years'.

Home affordability has increased in Alabama for several reasons, the Real Estate Center said. These reasons being, a fall in interest rates, an increase in the median income for Alabama residents, and a decrease in the median price of homes in the state.

"An Alabama Housing Affordability Index of 210.4 for the first quarter of 2009 means that an Alabama family which earned the statewide median income of $53,200 had more than twice... the income needed to qualify for a loan to purchase the statewide median priced home," the center said in a recent report.

Overall, this means that the state of Alabama's residential real estate market is stabilizing, and the center felt this would improve over the 'traditional home buying season.'

In addition to this, U.S housing affordability has risen more than 20% to an Index level 180.1.

Source: Cooper, Lauren (2009) MAlabama's Homes Reach Most Affordable Level in 16 Years; available online at http://www.bizjournals.com

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By Jeff Adolph

Residential Real Estate

According to a recent article published in the Birmingham Business Journal, the University of Alabama's Center for Real Estate has stated that home affordability has broken another index record, and that it is at its best 'level in 16 years'.

Home affordability has increased in Alabama for several reasons, the Real Estate Center said. These reasons being, a fall in interest rates, an increase in the median income for Alabama residents, and a decrease in the median price of homes in the state.

"An Alabama Housing Affordability Index of 210.4 for the first quarter of 2009 means that an Alabama family which earned the statewide median income of $53,200 had more than twice... the income needed to qualify for a loan to purchase the statewide median priced home," the center said in a recent report.

Overall, this means that the state of Alabama's residential real estate market is stabilizing, and the center felt this would improve over the 'traditional home buying season.'

In addition to this, U.S housing affordability has risen more than 20% to an Index level 180.1.

Source: Cooper, Lauren (2009) MAlabama's Homes Reach Most Affordable Level in 16 Years; available online at http://www.bizjournals.com

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By Jeff Adolph

Residential Real Estate

According to a recent article published in the Birmingham Business Journal, the University of Alabama's Center for Real Estate has stated that home affordability has broken another index record, and that it is at its best 'level in 16 years'.

Home affordability has increased in Alabama for several reasons, the Real Estate Center said. These reasons being, a fall in interest rates, an increase in the median income for Alabama residents, and a decrease in the median price of homes in the state.

"An Alabama Housing Affordability Index of 210.4 for the first quarter of 2009 means that an Alabama family which earned the statewide median income of $53,200 had more than twice... the income needed to qualify for a loan to purchase the statewide median priced home," the center said in a recent report.

Overall, this means that the state of Alabama's residential real estate market is stabilizing, and the center felt this would improve over the 'traditional home buying season.'

In addition to this, U.S housing affordability has risen more than 20% to an Index level 180.1.

Source: Cooper, Lauren (2009) MAlabama's Homes Reach Most Affordable Level in 16 Years; available online at http://www.bizjournals.com

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By Jeff Adolph

Residential Real Estate

According to a recent article published in the Birmingham Business Journal, the University of Alabama's Center for Real Estate has stated that home affordability has broken another index record, and that it is at its best 'level in 16 years'.

Home affordability has increased in Alabama for several reasons, the Real Estate Center said. These reasons being, a fall in interest rates, an increase in the median income for Alabama residents, and a decrease in the median price of homes in the state.

"An Alabama Housing Affordability Index of 210.4 for the first quarter of 2009 means that an Alabama family which earned the statewide median income of $53,200 had more than twice... the income needed to qualify for a loan to purchase the statewide median priced home," the center said in a recent report.

Overall, this means that the state of Alabama's residential real estate market is stabilizing, and the center felt this would improve over the 'traditional home buying season.'

In addition to this, U.S housing affordability has risen more than 20% to an Index level 180.1.

Source: Cooper, Lauren (2009) MAlabama's Homes Reach Most Affordable Level in 16 Years; available online at http://www.bizjournals.com

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By Jeff Adolph

Residential Real Estate

According to a recent article published in the Birmingham Business Journal, the University of Alabama's Center for Real Estate has stated that home affordability has broken another index record, and that it is at its best 'level in 16 years'.

Home affordability has increased in Alabama for several reasons, the Real Estate Center said. These reasons being, a fall in interest rates, an increase in the median income for Alabama residents, and a decrease in the median price of homes in the state.

"An Alabama Housing Affordability Index of 210.4 for the first quarter of 2009 means that an Alabama family which earned the statewide median income of $53,200 had more than twice... the income needed to qualify for a loan to purchase the statewide median priced home," the center said in a recent report.

Overall, this means that the state of Alabama's residential real estate market is stabilizing, and the center felt this would improve over the 'traditional home buying season.'

In addition to this, U.S housing affordability has risen more than 20% to an Index level 180.1.

Source: Cooper, Lauren (2009) MAlabama's Homes Reach Most Affordable Level in 16 Years; available online at http://www.bizjournals.com

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When Searching for a Holiday Rental Compare Prices

By Jeff Adolph

Vacation Homes

In a recent article published by the Boston Globe, gay couple, Todd Fairchild and Todd Antonellis, told reporter Elizabeth Gehrman that they were in search of a holiday rental near family this year, due to a family reunion.

At first when Todd and John began their search they could not find anything for under $1,800 a week, and they wanted to watch their spending.

"Some [holiday homes] were really close to the beach," said Todd, " but even little cottages were worth $1,800, and there were plenty for $2,400 to $3,000. I found one for $900, but it was booked for the entire summer."

After searching on Craigslist, the couple found a rental in a gay-friendly town for $800. John then decided to ask a friend who rented condos in the area, if this price was acceptable, and he was informed that there was a $700 a week condo available for lease, which was the typical going rate. Of course the pair were ecstatic, and took the rental.

"It pays to shop around," Todd said.

In fact, according to Carroll Rheem, director of research at PhoCusWright, a travel-market research firm, the economic downturn will have an impact on vacation rentals, and this means that consumers should be able to find bargains in the locations they are wishing to holiday in.

"With travel being so down this year -- significantly down -- there's no way vacation rentals are not going to be affected," Rheem said.

Source: Gehrman, Elizabeth (2009) Bargains in Paradise; available online at http://www.boston.com

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By Jeff Adolph

Vacation Homes

In a recent article published by the Boston Globe, gay couple, Todd Fairchild and Todd Antonellis, told reporter Elizabeth Gehrman that they were in search of a holiday rental near family this year, due to a family reunion.

At first when Todd and John began their search they could not find anything for under $1,800 a week, and they wanted to watch their spending.

"Some [holiday homes] were really close to the beach," said Todd, " but even little cottages were worth $1,800, and there were plenty for $2,400 to $3,000. I found one for $900, but it was booked for the entire summer."

After searching on Craigslist, the couple found a rental in a gay-friendly town for $800. John then decided to ask a friend who rented condos in the area, if this price was acceptable, and he was informed that there was a $700 a week condo available for lease, which was the typical going rate. Of course the pair were ecstatic, and took the rental.

"It pays to shop around," Todd said.

In fact, according to Carroll Rheem, director of research at PhoCusWright, a travel-market research firm, the economic downturn will have an impact on vacation rentals, and this means that consumers should be able to find bargains in the locations they are wishing to holiday in.

"With travel being so down this year -- significantly down -- there's no way vacation rentals are not going to be affected," Rheem said.

Source: Gehrman, Elizabeth (2009) Bargains in Paradise; available online at http://www.boston.com

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By Jeff Adolph

Vacation Homes

In a recent article published by the Boston Globe, gay couple, Todd Fairchild and Todd Antonellis, told reporter Elizabeth Gehrman that they were in search of a holiday rental near family this year, due to a family reunion.

At first when Todd and John began their search they could not find anything for under $1,800 a week, and they wanted to watch their spending.

"Some [holiday homes] were really close to the beach," said Todd, " but even little cottages were worth $1,800, and there were plenty for $2,400 to $3,000. I found one for $900, but it was booked for the entire summer."

After searching on Craigslist, the couple found a rental in a gay-friendly town for $800. John then decided to ask a friend who rented condos in the area, if this price was acceptable, and he was informed that there was a $700 a week condo available for lease, which was the typical going rate. Of course the pair were ecstatic, and took the rental.

"It pays to shop around," Todd said.

In fact, according to Carroll Rheem, director of research at PhoCusWright, a travel-market research firm, the economic downturn will have an impact on vacation rentals, and this means that consumers should be able to find bargains in the locations they are wishing to holiday in.

"With travel being so down this year -- significantly down -- there's no way vacation rentals are not going to be affected," Rheem said.

Source: Gehrman, Elizabeth (2009) Bargains in Paradise; available online at http://www.boston.com

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By Jeff Adolph

Vacation Homes

In a recent article published by the Boston Globe, gay couple, Todd Fairchild and Todd Antonellis, told reporter Elizabeth Gehrman that they were in search of a holiday rental near family this year, due to a family reunion.

At first when Todd and John began their search they could not find anything for under $1,800 a week, and they wanted to watch their spending.

"Some [holiday homes] were really close to the beach," said Todd, " but even little cottages were worth $1,800, and there were plenty for $2,400 to $3,000. I found one for $900, but it was booked for the entire summer."

After searching on Craigslist, the couple found a rental in a gay-friendly town for $800. John then decided to ask a friend who rented condos in the area, if this price was acceptable, and he was informed that there was a $700 a week condo available for lease, which was the typical going rate. Of course the pair were ecstatic, and took the rental.

"It pays to shop around," Todd said.

In fact, according to Carroll Rheem, director of research at PhoCusWright, a travel-market research firm, the economic downturn will have an impact on vacation rentals, and this means that consumers should be able to find bargains in the locations they are wishing to holiday in.

"With travel being so down this year -- significantly down -- there's no way vacation rentals are not going to be affected," Rheem said.

Source: Gehrman, Elizabeth (2009) Bargains in Paradise; available online at http://www.boston.com

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© 2006+ Jeff Adolph GayRealEstate USA

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By Jeff Adolph

Vacation Homes

In a recent article published by the Boston Globe, gay couple, Todd Fairchild and Todd Antonellis, told reporter Elizabeth Gehrman that they were in search of a holiday rental near family this year, due to a family reunion.

At first when Todd and John began their search they could not find anything for under $1,800 a week, and they wanted to watch their spending.

"Some [holiday homes] were really close to the beach," said Todd, " but even little cottages were worth $1,800, and there were plenty for $2,400 to $3,000. I found one for $900, but it was booked for the entire summer."

After searching on Craigslist, the couple found a rental in a gay-friendly town for $800. John then decided to ask a friend who rented condos in the area, if this price was acceptable, and he was informed that there was a $700 a week condo available for lease, which was the typical going rate. Of course the pair were ecstatic, and took the rental.

"It pays to shop around," Todd said.

In fact, according to Carroll Rheem, director of research at PhoCusWright, a travel-market research firm, the economic downturn will have an impact on vacation rentals, and this means that consumers should be able to find bargains in the locations they are wishing to holiday in.

"With travel being so down this year -- significantly down -- there's no way vacation rentals are not going to be affected," Rheem said.

Source: Gehrman, Elizabeth (2009) Bargains in Paradise; available online at http://www.boston.com

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East Birmingham - ALABAMA - Gay Enclave

By Jeff Adolph

LGBT Neighborhoods

A reader recently brought to my attention that East Lake in Birmingham, Alabama was becoming a haven for the LGBTcommunity. So I have decided to delve a little deeper into this region's charm and charisma, and see exactly what is on offer in terms of housing and lifestyle.

Here is what I have uncovered...

Birmingham is stipulated as being the largest city in the state of Alabama, with a population of approximately 220,000 people. The city was founded in 1871 and offers a diversity of housing that includes bungalows, ranch styled homes, Tudors and modern condominiums.

The Eastern side of Birmingham, Alabama is becoming noted for its LGBT neighborhoods, many of which are becoming enclaves where gays are enjoying a happy and healthy lifestyle. The most popular neighborhoods in this region for the LGBT community to settle include:

1) Crestwood South and North, and Forest Park- these are defined as upper market regions and comprise of 50-60s ranch styled homes and 1920s bungalows. Homes typically start from $120K and go up from here. "Woodlawn Heights" is stipulated as being the place to live if you are seeking a gay friendly and diverse environment.

2) East Lake - this area is currently being revitalized and is earmarked as an art and creative community, with musician's and artist's buying 1920s styled bungalows and Tudors in the region. The median price for homes are estimated to be between $60-80K. The median age for residents is 35.3 years and it is estimated that approximately .8% of households are LGBT (2007 figures).

There are some 10,000 homes and condos in this region that are owner occupied and approximately 3,000 that are rented. The population density of East Lake is approximately 2271 people per square mile, and property tax medians paid on housing units for 2007 were approximately $341.

Overall, if you think that Alabama is the state for you, then it may be worthwhile considering the Eastern side of Birmingham as a place to reside in and establish your home, as it offers you value for money and a safe, friendly environment.

Sources:  City Data (2008) Birmingham, Alabama; available online at http://www.city-data.com

Image Source: http://www.hellobirmingham.com and http://www.todaysphoto.org

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By Jeff Adolph

LGBT Neighborhoods

A reader recently brought to my attention that East Lake in Birmingham, Alabama was becoming a haven for the LGBTcommunity. So I have decided to delve a little deeper into this region's charm and charisma, and see exactly what is on offer in terms of housing and lifestyle.

Here is what I have uncovered...

Birmingham is stipulated as being the largest city in the state of Alabama, with a population of approximately 220,000 people. The city was founded in 1871 and offers a diversity of housing that includes bungalows, ranch styled homes, Tudors and modern condominiums.

The Eastern side of Birmingham, Alabama is becoming noted for its LGBT neighborhoods, many of which are becoming enclaves where gays are enjoying a happy and healthy lifestyle. The most popular neighborhoods in this region for the LGBT community to settle include:

1) Crestwood South and North, and Forest Park- these are defined as upper market regions and comprise of 50-60s ranch styled homes and 1920s bungalows. Homes typically start from $120K and go up from here. "Woodlawn Heights" is stipulated as being the place to live if you are seeking a gay friendly and diverse environment.

2) East Lake - this area is currently being revitalized and is earmarked as an art and creative community, with musician's and artist's buying 1920s styled bungalows and Tudors in the region. The median price for homes are estimated to be between $60-80K. The median age for residents is 35.3 years and it is estimated that approximately .8% of households are LGBT (2007 figures).

There are some 10,000 homes and condos in this region that are owner occupied and approximately 3,000 that are rented. The population density of East Lake is approximately 2271 people per square mile, and property tax medians paid on housing units for 2007 were approximately $341.

Overall, if you think that Alabama is the state for you, then it may be worthwhile considering the Eastern side of Birmingham as a place to reside in and establish your home, as it offers you value for money and a safe, friendly environment.

Sources:  City Data (2008) Birmingham, Alabama; available online at http://www.city-data.com

Image Source: http://www.hellobirmingham.com and http://www.todaysphoto.org

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By Jeff Adolph

LGBT Neighborhoods

Sources:  City Data (2008) Birmingham, Alabama; available online at http://www.city-data.com

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LGBT Gayest Zipcodes -- Real Estate Market Trends -- Alabama/ Alaska

By Jeff Adolph

Real Estate Market Trends

Without a doubt one of the most financially concerning times are upon us, and while many speculate just how long it is going to take the nation to recover, the rest of us get on with business usual.

Sometime ago -- the beginning of 2008 -- I reported on national market trends in GayRealEstate USA's gayest zip-codes, so that homeowners, buyers and sellers all had a feel of the residential real estate market, and were also able to identify where the majority of the American gay population resided, nationally.

I now think that it is time to re-address and compare market trend notes, so that we can see for ourselves how the real estate market in the nation's gayest zip-codes is faring. Therefore, weekly I shall offer an up date of two - four state markets and provide comparative information.

All information offered has been gathered from local realtors in the Fall of 2008 and compared with data gathered from the Fall of 2007.

Alabama -asking price percentages have remained stable in Birmingham, Huntsville and Madison, with the average home price still hovering between $170-180K in these regions. The only changes noted was the number of days on the market before homes sold, and the type of marketplace these homes were sold in.

Huntsville and Birmingham were recording sales averages of between 60 - 90 days. However, this sales average has now blown out to 90 - 120 days, whereas homes in Madison are selling quicker, with a 30 - 60 day average being recorded. Birmingham represents a buyers market with a large inventory as does Huntsville, however Madison is an equal buyers/sellers market with a declining inventory.

Alaska - is one of the few states whose economy is remaining steady, in fact many feel this state will not experience recession.

Eagle River, Anchorage, and Fairbanks have recorded no change in home values, with home median prices remaining consistent, along with home sales. The only change noted was the average time that homes in Eagle River remained on the market for, this had increased from 60 - 90 days, to 90 - 120 days.

Sources:  HouseHunt.com (2008) Residential Real Estate Market Trends; available online at http://www.househunt.com

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LGBT Gayest Zip-codes -- Birmingham Home Sales -- Alabama

By Jeff Adolph

Residential Real Estate

The slowing of the economy is beginning to take its toll on the real estate industry, with business declining for Realtors and mortgage lenders in Birmingham -- Alabama, one of GayRealEstate USA's gayest zip-codes.

The Birmingham Association of Realtors reports that homes in this region are typically staying on the market for 99 days before selling. Plus, the region has experienced a 27% decrease in residential sales with the average home price falling by up to 4%, when compared to the same time last year.

However, as the Birmingham Realtors Association president, Hal Tillman said, these drops in numbers are not all that alarming, especially when they offer a more favorable market for home owners. 

"Well, naturally you're going to see a drop in real estate agents as the numbers fall. We are also seeing a drop in inventory, which does help the home owner and home seller," Hillman said.

In fact, when you put slowing sales into context this means a more favorable long-term forecast for Birmingham's real estate. Overall, this points to the possibility of real estate market recovery in the next few years and that Birmingham is possibly coming to the end of its downward spiral.

Sources:  Hale, Jen (2008) Alabama's Slumping Real Estate Market; available online at http://www.nbc13.com

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By Jeff Adolph

Residential Real Estate

The slowing of the economy is beginning to take its toll on the real estate industry, with business declining for Realtors and mortgage lenders in Birmingham -- Alabama, one of GayRealEstate USA's gayest zip-codes.

The Birmingham Association of Realtors reports that homes in this region are typically staying on the market for 99 days before selling. Plus, the region has experienced a 27% decrease in residential sales with the average home price falling by up to 4%, when compared to the same time last year.

However, as the Birmingham Realtors Association president, Hal Tillman said, these drops in numbers are not all that alarming, especially when they offer a more favorable market for home owners. 

"Well, naturally you're going to see a drop in real estate agents as the numbers fall. We are also seeing a drop in inventory, which does help the home owner and home seller," Hillman said.

In fact, when you put slowing sales into context this means a more favorable long-term forecast for Birmingham's real estate. Overall, this points to the possibility of real estate market recovery in the next few years and that Birmingham is possibly coming to the end of its downward spiral.

Sources:  Hale, Jen (2008) Alabama's Slumping Real Estate Market; available online at http://www.nbc13.com

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LGBT Zipcodes -- Realtor Experience Shifting -- Alabama

By Jeff Adolph

Real Estate Agents

Birmingham - Alabama, one of GayRealEstate USA's gayest zipcodes, has a reported growth in Realtor experience with Realtors with less experience seeming to be declining in numbers, according to a 2007/08 survey.

The survey conducted by the Birmingham Association of Realtors aims to 'identify new trends' within the market and just how receptive agents are to 'new processes'. As a result, the survey has uncovered that Realtors are becoming more experienced and that the in-experienced are declining in numbers.

In 2007, agents with 3 years or less experience accounted for 47% of survey participants, however this number fell to just 30% in 2008; agents with over 4 years experience increased by 15% to 67% when compared to 2007's percentage of 52%.

Doris Phillips, president of RealSource, a real estate firm said that she believes this is attributed to market down-turn.

"This shift is not unexpected but is still important to note, and it confirms anecdotal observations commonly seen in the press. Typically in a down market, the experienced agents know that they must increase their efforts and that includes networking with affiliate service providers. With fewer sales taking place, these more seasonable agents also have more time for efforts that may otherwise occupy their time in a busy market."

For the home buyers and sellers in the Birmingham area this means that it is highly likely that they will find a Realtor who is not only aware of current trends, but also who is well versed in the current real estate market.

Source: PR.com (2008) Major Shift in Experience Level of Birmingham Realtors; available online at www.pr.com

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LGBT Gayest Zipcodes -- FHA Loans Increase in Birmingham -- Alabama

By Jeff Adolph

FHA Loans

Birmingham, Alabama one of GayRealEstate USA's gayest zip-codes, is witnessing a surge in Federal Home Administration loans as they have a less-stringent lending criteria.

According to Rob Henger, president of a local lending organization the increase has been significant. "We have seen an increase of FHA loans originating from 5 percent to 35 percent of our monthly volume over the last year, and I wouldn't be surprised to see it go to 50 percent," said Henger.

The reasoning behind this increase is attributed to the government FHA program offering to insure a portion of the loan, having lower credit standards and requiring less of a down payment.

Overall, FHA loans appeal to first-time buyers, or consumers who have smaller down payments or a blemished credit history. Meaning that those home buyers who are finding it difficult to secure a mortgage via a traditional lending authority may still quality for FHA loans. So, if you are wishing to buy but are finding it difficult via conventional lenders then it may be worthwhile considering FHA loans before deciding the only option for you is renting.

Source: Williams, Roy L. (2008) Home Buyers in Birmingham Area Increasingly Turning to FHA Loans; available online at http://www.al.com

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By Jeff Adolph

FHA Loans

Birmingham, Alabama one of GayRealEstate USA's gayest zip-codes, is witnessing a surge in Federal Home Administration loans as they have a less-stringent lending criteria.

According to Rob Henger, president of a local lending organization the increase has been significant. "We have seen an increase of FHA loans originating from 5 percent to 35 percent of our monthly volume over the last year, and I wouldn't be surprised to see it go to 50 percent," said Henger.

The reasoning behind this increase is attributed to the government FHA program offering to insure a portion of the loan, having lower credit standards and requiring less of a down payment.

Overall, FHA loans appeal to first-time buyers, or consumers who have smaller down payments or a blemished credit history. Meaning that those home buyers who are finding it difficult to secure a mortgage via a traditional lending authority may still quality for FHA loans. So, if you are wishing to buy but are finding it difficult via conventional lenders then it may be worthwhile considering FHA loans before deciding the only option for you is renting.

Source: Williams, Roy L. (2008) Home Buyers in Birmingham Area Increasingly Turning to FHA Loans; available online at http://www.al.com

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By Jeff Adolph

FHA Loans

Birmingham, Alabama one of GayRealEstate USA's gayest zip-codes, is witnessing a surge in Federal Home Administration loans as they have a less-stringent lending criteria.

According to Rob Henger, president of a local lending organization the increase has been significant. "We have seen an increase of FHA loans originating from 5 percent to 35 percent of our monthly volume over the last year, and I wouldn't be surprised to see it go to 50 percent," said Henger.

The reasoning behind this increase is attributed to the government FHA program offering to insure a portion of the loan, having lower credit standards and requiring less of a down payment.

Overall, FHA loans appeal to first-time buyers, or consumers who have smaller down payments or a blemished credit history. Meaning that those home buyers who are finding it difficult to secure a mortgage via a traditional lending authority may still quality for FHA loans. So, if you are wishing to buy but are finding it difficult via conventional lenders then it may be worthwhile considering FHA loans before deciding the only option for you is renting.

Source: Williams, Roy L. (2008) Home Buyers in Birmingham Area Increasingly Turning to FHA Loans; available online at http://www.al.com

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Source: Williams, Roy L. (2008) Home Buyers in Birmingham Area Increasingly Turning to FHA Loans; available online at http://www.al.com

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LGBT Zipcodes -- A Closer Look -- Alabama

By Jeff Adolph

Record Sales

Birmingham, Alabama, one of GayRealEstate USA's gayest American zipcodes, is home to a housing development that many refer to as the 'hottest' selling new home community in the area.

Ross Bridge is diverse, with a huge selection of homes built by the finest builders know of today, and all are reasonably priced considering the spectacular amenities and lifestyle that accompany the homes.

The community has homes priced from the mid $200,000's to over $1 million, and Ross Bridge has some of the best amenities, such as Ross Bridge Golf Resort and Spa, Ross Park, pool and clubhouse with magnificent walking trails. The community also has a beautiful center with entertainment, shopping, restaurants and services. In fact, this community is a fully serviced American resort town that is perfect for families, single couples or those considering retirement.

For more information please visit: http://www.rossbridge.com

Main Story Source: PRWeb (2008) Ross Bridge Sells 500 Homes in 31 Months; available on-line at www.prweb.com

Picture Source: www.rossbridge.com

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By Jeff Adolph

Record Sales

Birmingham, Alabama, one of GayRealEstate USA's gayest American zipcodes, is home to a housing development that many refer to as the 'hottest' selling new home community in the area.

Ross Bridge is diverse, with a huge selection of homes built by the finest builders know of today, and all are reasonably priced considering the spectacular amenities and lifestyle that accompany the homes.

The community has homes priced from the mid $200,000's to over $1 million, and Ross Bridge has some of the best amenities, such as Ross Bridge Golf Resort and Spa, Ross Park, pool and clubhouse with magnificent walking trails. The community also has a beautiful center with entertainment, shopping, restaurants and services. In fact, this community is a fully serviced American resort town that is perfect for families, single couples or those considering retirement.

For more information please visit: http://www.rossbridge.com

Main Story Source: PRWeb (2008) Ross Bridge Sells 500 Homes in 31 Months; available on-line at www.prweb.com

Picture Source: www.rossbridge.com

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LGBT Zipcodes -- A Closer Look -- Memphis, Tennessee & Birmingham, Alabama

By Jeff Adolph

Park Side Living

With environmental issues on everyones agenda, Smart Growth America, a national green space coalition is looking to develop more parkland's like New York's 843 acre Central Park.

"We grew so rapidly in the '80s & '90s in the rate we were consuming land, people did become alarmed, says David Goldberg, spokesman for Smart Growth America. This desire for parkland and capitalizing on natural assets is really taking hold."

The bonuses associated with park side real estate are:

1. Increased property value and demand;
2. Parkland's ease environmental concerns; and
3. Greenbelts provide an attractive and healthy environment.

Parks that are in progress in LGBT areas are:

Tennessee -- 4,500 acre Shelby Farms in Memphis, which is said to be a representation of a park in the 21st Century. The former prison farm will comprise of approximately 2,250 acres of parks and three residential areas.

Alabama -- U.S Steel sold a 1,100 acre site at Red Mountain in Birmingham for $7 million to park developers when it was estimated to be worth $16 million. the park will have 18 miles of trails and fishing ponds. 

Main Story Source: Nasser, Haya El (2008) Huge Parks Follow Demand for More Green Space; available online at www.usatoday.com

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