Huntsville real estate is alive and well

I was having a discussion with a Keller Williams agent, Bryan Pearl, in Alabama today, and asked him to do a short synopsis of their market right now. Huntsville is the location of a military base, and much upcoming government work. They are riding high on the sales market right now...lucky them... He writes:

The Huntsville Alabama Real Estate Market is a buyer’s market right now, but it is continuing to grow. With the Base Closure and Realignment Act (BRAC), several high profile companies have announced new operations or large expansions of existing operations in Huntsville. BRAC, alone is bringing around 2500 new jobs to the area. The Huntsville International Airport is adding two new wings and a total of 20,000 square feet. The airport is showing strong traffic growth for the year.

Many have asked me about Huntsville homes for sale. Our market is strong. 418 units were sold in November with the average price around $215,000. Sellers are making a few more concessions but the average sold price is varying 2% from the list price. We expect to see continued growth for the next several years.
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*They are also just beginning to start with condos there, adding to the traditional single family housing that now makes up most of the real estate choices.

MB airport lands record year

December 10, 2007
Original Myrtle Beach Online article: MB airport lands record year

More passengers flew into Myrtle Beach International Airport in the first 11 months of this year than in all of 2000, officially making 2007 the busiest year ever for MYR.

The area's aviation industry is coming back from a slump that hit the national travel scene after the Sept. 11, 2001, terrorist attacks. The latest passenger numbers released Monday by the airport show that it's on track to tally more than 800,000 incoming passengers this year - around 17 percent more than last year.

Airport, county and business officials said more advertising in key markets, along with several new flights, was responsible for the jump. They pointed to the increased traffic as further proof that the airport needs to expand.

'The additional flights and additional marketing clearly adds up,' said Brad Dean, president of the Myrtle Beach Area Chamber of Commerce. 'We have no choice but to continue to push for some sort of expansion. What that is remains to be seen.'

Horry County, which owns the airport, had been working on a proposed $229 million terminal, but the idea died when a Myrtle Beach community board rejected the location of the new building.

Liz Gilland, County Council chairwoman, said the high passenger numbers are no surprise.
'I think it's simply following every projection we have gotten,' Gilland said. 'It again pinpoints the fact that we are woefully unprepared to handle the passengers that everyone projects are going to come.'

The county has revived efforts to expand the terminal and has selected a project manager for the expansion.

More than 60,000 people flew into the airport in November, a 16.22 percent jump over November 2006. That brings the total to almost 792,900 passengers landing in Myrtle Beach this year through November.

More than 61,500 people departed from Myrtle Beach in November, bringing the total to 795,600 for the year.

The incoming and outgoing number of passengers often differs, depending on which days of the week fall within the month. Sundays are often heavy departure days.

More passengers, however, do not necessarily bring in more money for the airport, said Bob Kemp, director of airports for Horry County.

The airport projects its budget on an annual basis, and the airlines split the cost of running the airport. Each month, the airlines pay a percentage, based on how many passengers they brought in. If all airlines bring in more passengers, the cost per passenger goes down, Kemp said.

In February, Spirit Airlines leapt past U.S. Airways to take the spot as No. 1 carrier into Myrtle Beach by number of passengers. From January through November, Spirit brought in about 296,600 passengers, while U.S. Airways carried in about 234,800.

Reaching one million passengers arriving per year is 'very realistic' within the next few years, Dean said.
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