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NOVEMBER 2024
ME LV I N ’ S MON T H LY MOMENT S
205-223-6192 www.MelvinUpchurchSells.com
A Market Statistics Update
Plus, Happy Thanksgiving!
Birmingham Market Statistics First 9 Months of Each Year for the Last 5 Years
What can we learn from these stats:
1. Homeowners in our market are enjoying strong appreciation of approximately 9% a year. It’s over 10% for Homewood and Mt. Brook. 2. In our market, we are selling, on average, 32% fewer homes per year than we were in 2020. This lack of inventory is the driving force behind higher home prices. Basic supply and demand. 3. Goldman Sachs predicts U.S. home price appreciation to be 4.40% in 2025. 4. The higher prices have priced lots of first-time homebuyers out of the market.
2020 vs 2024 Difference
Homes Sold
Area
2020
2021
2022
2023
2024
Homewood Mt. Brook
328 295 581
318 329 613
262 278 520 931 456
196 210 377 703 314
165 216 421 699 328
(163)
-49.70% -26.78% -27.54% -33.62% -25.28% -32.16%
(79)
Vestavia
(160) (354) (111)
Hoover High
1,053 1,131
Spain Park High 439
480
Average
2,696 2,871 2,447 1,800 1,829 (867)
2020 vs 2024 Difference
Median Price Homes Sold 1st 9 Months 2021 2022 2023
Area
2020
2024
Homewood $405,000 $449,500 $500,000 $492,450 $600,000 $195,000 48.15% Mt. Brook $648,000 $760,000 $844,500 $902,000 $951,999 $303,999 46.91% Vestavia $465,000 $475,000 $526,000 $575,000 $627,500 $162,500 34.95% Hoover High $374,900 $420,000 $464,670 $490,431 $531,500 $156,600 41.77% Spain Park High $350,000 $378,637 $431,250 $432,950 $451,850 $101,850 29.10% Average $448,580 $496,627 $553,284 $578,566 $632,570 $183,990 41.02%
5. 70% of Americans have a
mortgage rate at least 3% lower than current interest rates, which is causing them to hold on to their homes longer.
The Mortgage Bankers Association (MBA) forecast predicts that the 30-year rate will be 6.20% in Q4 2024 and 5.8% at the end of 2025.
7. My average seller client in 2024 has saved $10,500 in commission.
6. In October 2023, the average 30-year mortgage was 7.79%.
Happy Thanksgiving!
–Melvin Upchurch
• 1 www.MelvinUpchurchSells.com
Transform Any Room Into Your Ultimate Entertainment Hub
Say Goodbye to Old Carpet Your Guide to a Smooth Replacement Process
On average, carpet flooring in your home will last 5–15 years. It could last longer or shorter depending on how often people stand on it, the materials used, and whether a professional installed it. But once you hit the five-year mark, inspect your carpet to see if replacement is in order. If your carpet is flat and compressed or has stains, rips, and other damage throughout, it’s probably time to rip out the old carpet for something new. Removing old carpet is a straightforward task you can complete within a few hours, and then you’ll be ready for the new carpet or flooring installation. To start, remove all furniture, appliances, doors, baseboards, and moldings from the room. You don’t want anything resting on the carpet or in your way. If you plan to throw out your old carpet, you’ll want to cut it into strips using a utility knife. From there, detach the carpet from the tack strip. For this process, it’s best to wear gloves and kneepads to avoid cutting or poking yourself. You can cut the carpet away from the tack strip with your utility knife or use pliers to pull it away from the tack strip and unhook it. Once the carpet is no longer attached to the tack strip, it’s time to start pulling. While wearing gloves, grab the carpet, pull it, and roll it up. You may need to use pliers to get a better grip. Secure each strip with duct tape to preserve space in your garbage bag. Repeat this process until there is no carpet left in the room. You’ll want to remove the padding underneath the carpet, too. Pry out staples holding the padding using a floor scraper or pliers. If the carpet padding has adhesive, you will need a floor scraper and potentially some commercial adhesive remover to make progress. All that’s left is removing the tack strip, which you can do using a prybar. After removing everything, clean the floor using a broom, vacuum, and mop before you place new flooring or carpet. Just like that, you’ve removed your old carpet and are ready for the next project!
No house is complete without a dedicated space for entertainment. You need somewhere to play board games with your kids, watch a movie for date night, or finish the evening playing your favorite video game. Most houses don’t have a game room, so we usually have to turn a spare bedroom, basement, or den into one. You can design your dream game room in many ways depending on your interests. Here are three ideas to inspire your gaming paradise. The Movie Theater Treatment Going to a movie theater for a family night out or date night is a great way to spend an evening, but you don’t have to leave the house to capture the same magic. All you need is a big- screen TV or a projector, dimmable lights, a few recliners, and a way to play your favorite movies and TV shows. Not only will this become the ideal place to watch movies, but it will also be a fantastic video game room for gamers of all ages. A Space to Watch the Big Game Is the Super Bowl a can’t-miss event for you and your family? How about the Stanley Cup playoffs or the NBA Finals? If so, you should turn your game room into a dedicated place to watch your favorite teams take the ice, court, or field. Of course, you need a screen to watch the game, but you’ll also want to decorate the room with some of your favorite athletes’ jerseys, pictures of pinnacle moments in your team’s history, and an air hockey or foosball table. This room will quickly become your friends’ and family’s favorite place to watch games. A Tabletop Paradise For some, gaming screenless is their preferred style. If so, you’ll want to create the perfect space for board and tabletop games. You need a large table that can easily fit everyone playing, comfortable chairs that promote good posture, and plenty of board games. You’ll also benefit from bright lighting in the room, or if you’re looking for something to shake up game night, add colorful lights that reflect the mood of any game.
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The Unique Allure of Big Bend National Park
Most national parks are full of visitors from spring through fall. Big Bend National Park turns that schedule upside down.
The ideal time to visit this southwest Texas wonderland of wild river canyons and stunning mountain vistas is from October through May — the offseason for most national parks. But summertime temperatures in Big Bend soar to 105 degrees F or more, too hot for safe vacationing, while wintertime is mild and usually sunny. Many tourists and vacationers have recently discovered the park, driving visitation 16% higher since 2018 to more than 511,000 people annually. Big Bend offers a diversity of sights and terrain. Elevations soar from about 1,800 feet along the Rio Grande River to almost 8,000 feet in the Chisos Mountains. Boating and rafting trips along the Rio Grande, which Congress designated as a free-flowing Wild & Scenic River, take visitors through the spectacular Santa Elena Canyon limestone cliffs. Options range from a leisurely float lasting less than a day to a seven-day wilderness adventure down the Lower Canyons. Big Bend is also a birder’s paradise, with 450 species sighted there on various occasions. The park also offers an abundance of family-friendly activities. A legal Port of Entry enables visitors who bring their passports to cross the Rio Grande River and visit the shops and restaurants of a rural Mexican village, Boquillas del Carmen. Families also enjoy
stargazing at the Sotol Vista Overlook, scrambling over the boulders on the Upper Burro Mesa, and trekking the Grapevine Hills trails to see Balanced Rock, a giant boulder seemingly teetering in midair between two smaller boulders. Kids can also see dinosaur remains at the Fossil Discovery Exhibit or explore the ruins of a mercury-mining ghost town, Terlingua. Five visitor centers are usually open through the winter. Construction of a new visitor lodge and water system will begin in late 2024, likely causing some disruptions. However, Big Bend has four developed campgrounds and many backcountry camping opportunities. Most campsites are filled six months in advance, so reserve a spot early for your winter camping adventure.
TAKE A BREAK
Exquisite Lemon Bars
Ingredients
• 1/2 cup fresh lemon juice • 2 tbsp grated lemon zest • 1/4 tsp baking powder • 1/4 tsp salt
• 2 cups all-purpose flour • 1/2 cup powdered sugar • 1 cup butter, softened • 4 large eggs • 2 cups granulated sugar
Directions
1. Preheat oven to 350 F and grease a 9x13-inch baking pan. 2. In a medium bowl, combine flour and powdered sugar. 3. Cut in butter until the mixture resembles coarse crumbs. 4. Press mixture into prepared pan. Bake for 15 minutes or until lightly browned. 5. In a large bowl, whisk together eggs, sugar, lemon juice, lemon zest, baking powder, and salt. Pour over crust. 6. Bake for 25 minutes or until set. Allow to cool before cutting into bars.
Apple Basketball Black Friday Fireplace
Gratitude Leaves Nap Parade
Pie Stuffing Turkey Veteran
• 3 www.MelvinUpchurchSells.com
205-223-6192 www.MelvinUpchurchSells.com 300 UNION HILL DR., STE. 200 BIRMINGHAM, AL 35209
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
INSIDE
1
A Helping of Market Statistics With That Pie
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How to Create the Ultimate Entertainment Room Carpet Replacement 101 A Big Wintertime Playground Exquisite Lemon Bars
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Say Goodbye to Kitchen Counter Clutter
Simple Solutions for a Neat and Inviting Kitchen Create a Culinary Haven
For most people, the kitchen is the most popular room in the home. It’s where you prepare and eat meals, snack on snacks, and make memories with loved ones. However, finding the right aesthetic when items clutter your counter space can be difficult. We have a few ideas to help you tighten your countertop. Remove Small Appliances You don’t need to keep your air fryer, blender, or slow cooker out. Unless you use an appliance daily, stick it in the pantry or a kitchen cabinet. Add Plants and Produce A bowl of fruit or a potted plant can completely change the look of your kitchen and add a pop of color!
Layer Your Decor Keep similar decor together and
condense where possible. To give your kitchen counters more space, you can even install shelves or use pantry doors for more storage.
4 •205-223-6192
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