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Montgomery AL Foreclosure Trends - April 2011

by The Hat Team

There were 1,311 Montgomery AL foreclosure homes for sale with 171 new foreclosures in April 2011. The average selling price of a Montgomery AL home was $163,408 and the average foreclosure selling price was $93,093 a $70,315 savings, according to RealtyTrac.com.

Montgomery AL Foreclosure Activity and 30 Year Interest Rate

Montgomery interest rates averaged 4.84% in April while the number of foreclosed homes decreased from 228 in March to 171 in April.

montgomery al foreclosure

Foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Montgomery AL Foreclosure Geographical Comparison

Montgomery AL foreclosure activity was 0.01% higher than national statistics. 0.10% higher than Alabama and 0.01% higher then Montgomery County statistics for the month of April.

montgomery al foreclosure

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties decreased from 151 homes in March to 121 in April. The number of Auctions decreased from 84 to 50. There is a 6-month rising trend.

montgomery al foreclosure

Are you or someone you know behind on mortgage payments and facing a Montgomery foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE) with specialized training in helping families avoid foreclosure. Give me a call for a private consultation.

Montgomery Real Estate For Sale: 2428 Oxford Drive Montgomery, AL 36111

MLS#284354

Lots of house for the money! Whether you are looking for a deal as owner occupant and are willing to put in some sweat equity, or you are a savvy investor looking for a great deal with good tenants already in place that cash flow, you should give this one a look! Traditional floor plan has well proportioned rooms and great hardwood floors. Den/family room features a fireplace, and out back there is a covered patio and large fenced back yard. "Property to be sold as is."

Learn more about 2428 Oxford Drive and other Montgomery Real Estate by visiting HatTeam.com.

 

Search all Montgomery Real Estate and homes for sale.

 

Home sales are expected to stay on an uptrend through 2012, although the performance will be uneven with mortgage constraints weighing on the market, according to real estate experts.

Lawrence Yun, National Association of Realtors chief economist, said existing-home sales have been underperforming by historical standards and will rise gradually but unevenly. “If we just hold at the first-quarter sales pace of 5.1 million, sales this year would rise 4 percent, but the remainder of the year looks better,” Yun said. “We expect 5.3 million existing-home sales this year, up from 4.9 million in 2010, with additional gains in 2012 to about 5.6 million – that’s a sustainable level given the size of our population.”

Now take a look at how the Midtown Montgomery real estate market performed in April.

Midtown Montgomery real estate sales statistics for April show the average sales price decreased by 10% to $129,495 when compared to April 2010.  The number of homes sold decreased by 33% in April.  The median sales prices decreased by 20%, while market times decreased 20% or 27 days.  The highest selling home price decreased by 5%, and the lowest selling home price increased by 29%.

Midtown Montgomery April 2011 April 2010
Homes Sold 29 43
Average Selling Price $ 129,495 $ 144,517
Median Selling Price $ 100,000 $ 125,000
Days On The Market 105 132
Highest Selling Price $ 649,000 $ 683,000
Lowest Selling Price $ 8,500 $ 6,000

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

Montgomery Real Estate For Sale:3320 Montezuma Road Montgomery, Al 36106

MLS#284305

You'll have room to spread out in this 1-1/2 story Cloverdale home with 4 bedrooms. Wave to your neighbors from the cool covered front porch, or relax in privacy on the back deck. Large living room and cozy den/study will take care of all your living space needs, and the dining room and eat-in kitchen are perfect for quick meals on the go or more formal dinners. And, with two bedrooms downstairs and two more up, grown-ups and kids can have their space. Detached garage out back provides space for 1 car and extra storage. All cleaned out and cleaned up and ready for a new owner, so be sure to check this one out!

Learn more about 3320 Montezuma Road and other Montgomery Real Estate by visiting HatTeam.com

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So it has happened. You’ve spent recent months preparing your house for sale, negotiating a fair price, and anxiously awaiting the closing date. And now the appraisal on your Montgomery AL real estate has come in below the offered price. What to do? First, remain calm. This is not an unusual problem in today’s market. Understanding the reason(s) for the disappointing appraisal and exploring your options in saving the transaction may well be helpful at this point.

REASONS FOR A LOW APPRAISAL:

  • Overpricing by you, the seller
  • Declining market values
  • An abundance of foreclosures or short sales in your neighborhood
  • Inflated price resulting from multiple offers
  • Incorrect evaluation by the underwriter
  • Cash back to the buyer from the seller
  • Error on the part of the appraiser

STEPS YOU CAN TAKE:

  • Lower the price on your Montgomery AL real estate. Research the latest comps for your area, think realistically about your asking price, and decide if you are willing to begin the whole process again.
  • Ask the buyer to make up the difference in cash.
  • Offer to carry a second mortgage for the buyer if the above option is not possible.
  • Check the appraisal for errors in information about your Montgomery AL real estateappraisal.  Is the square footage correct? What about the number of bedrooms or bathrooms? Have any recent improvements you’ve made to the property been included? If not, appeal the appraisal.
  • Supply to the underwriter a list of recent comparable sales that justify the selling price and ask for a review of the appraisal.
  • Order a new appraisal. Although you or your buyer will have to pay for it out of pocket, it could certainly be money well spent if it results in a higher appraisal. If your loan is an FHA loan, ask your lender for a list of approved appraisers. If it is a conventional loan, it is subject to the rules of the Home Valuation Code of Conduct (HVCC).
  • Cancel the transaction. The last resort after trying to resolve the situation. Most purchase contracts contain a loan contingency dealing with low appraisals.

Montgomery AL Foreclosure Trends - March 2011

by The Hat Team

There were 1,420 Montgomery AL foreclosure homes for sale with 243 new foreclosures in March 2011. The average selling price of a Montgomery AL home was $136,478 and the average foreclosure selling price was $101,691 a $34,788 savings, according to RealtyTrac.com.

Montgomery AL Foreclosure Activity and 30 Year Interest Rate

Montgomery interest rates averaged 4.84% in March while the number of foreclosed homes increased from 150 in February to 228 in March.

montgomery al foreclosure

Foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Montgomery AL Foreclosure Geographical Comparison

Montgomery foreclosure activity was 0.05% higher than national statistics. 0.12% higher than
Alabama statistics for the month of March.

montgomery al foreclosure

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties increased from 43 homes in February to 151 in March. The number of Auctions decreased from 112 to 92. There is a 6-month rising trend.

montgomery al foreclosure

Are you or someone you know behind on mortgage payments and facing a Montgomery foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE) with specialized training in helping families avoid foreclosure. Give me a call for a private consultation.

Montgomery Real Estate For Sale:715 E Fairview Avenue Montgomery, AL 36106

MLS#283901 

Classic Lockwood design! You will find more than meets the eye in this beautiful Old Cloverdale home. With almost 3,000 square feet, you and your family will have plenty of space for living and entertaining. Big country sized kitchen will be a favorite gathering place, and the formal dining room is big enough for large-style dinner parties. A traditional master bedroom is located downstairs along with two other large bedrooms connected by a jack-and-jill bath. Upstairs there is a large bedroom with a huge walk-in closet, and a bonus room beyond the closet, which would make a great master retreat suite (and currently one of the coolest play-spaces you have ever seen for two lucky kids!) Also upstairs is a huge office/study with tons of built-in bookshelves and a custom built desk/work area. Storage will not be an issue, as there are three more walk-in closets upstairs, one is even cedar lined. And, off the side kitchen door there is a wrap around deck overlooking an oversized pool and spacious shady play area beyond. So much for the price, this one is certainly one of the best values in the area, and is move-in-ready!

Learn more about 715 E Fairview Avenue and other Montgomery Real Estate by visiting HatTeam.com

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Montgomery Real Estate For Sale: 4336 Hillside Oaks Montgomery, AL 36109

MLS#282795

Move on over to easy street! Find easy care and easy maintenance in this cute-as-a-button patio home on an ever-so-quiet street right off the Atlanta Highway. Ready to move into, this home has new carpet and fresh neutral paint throughout. Living/dining combo with fireplace overlooks small shady back yard. If you like to be outdoors, there is a big covered patio off the back, as well as detached storage/workshop. Whether just starting out, or looking to downsize, this one is sure to please.

Learn more about 4336 Hillside Oaks and other Montgomery Real Estate by visiting HatTeam.com

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Displaying blog entries 1-8 of 8

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