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Montgomery AL Home for Sale: 2110 Mona Lisa Drive

Monday, June 30, 2014
by The Hat Team

Montgomery AL Home for Sale:

2110 Mona Lisa Drive, Montgomery AL 36111
MLS# 310416

Bring Your Imagination!

2110 mona lisa drive

How's your imagination? If you can look past dirty carpet and envision the hardwood below, you'll see that this well-loved house has the potential to be your new home. Kitchen and baths are modern and in great shape. An over-sized laundry room has space for crafts or work-shopping. And the huge fenced yard cries out for kids and/or pets. Great peach trees, too, and within walking distance of Baptist and Alfa so call now!

Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

Interested in buying a bank-owned home? Get bank-owned listings alerts FREE!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

 

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Midtown Montgomery Real Estate Market Report for May 2014

Thursday, June 26, 2014
by The Hat Team

All-cash offers are an unusual real estate tactic, but often times are a winning strategy at the negotiating table, and are presently on the rise. The National Association of Realtors® reports market share of all-cash purchases has risen and currently makes up 33 percent of the market. This is a unique trend, especially since the market has experienced a decrease in distressed homes and investor activity.

Economists point out many reasons for this popular trend. One is restrictive lending standards have caused many buyers, especially wealthy ones, to forgo a loan. Another is the aging baby boom generation, many of whom are trading down and paying for their purchase with cash accumulated from decades of equity. Some also point to foreign buyers; home purchases by foreign buyers in the U.S. are increasing and those buyers don’t have the credit history in the U.S. to qualify for a loan.

None of those situations have significantly impacted the Montgomery market.  For May, 24% of the sales were all-cash and averaged just $42,500.  This indicates they were predominantly investor sales of distressed properties.  Now let's look at the other May statistics for Midtown Montgomery.

Midtown Montgomery real estate sales statistics for May 2014, show the number of homes sold increased by 5.7% when compared to May 2013. The average sales price increased by less than 1% to $144,882 for the month. The median sales prices increased by 17%, and market times decreased by 4 days from May 2013.  The highest selling price decreased by 5%, and the lowest selling home price decreased by 45% compared to May 2013.

Midtown Montgomery  May 2014 May 2013
Homes Sold 33 35
Average Selling Price $144,882 $144,725
Median Selling Price $123,000 $105,000
Days On The Market 126 140
Highest Selling Price $635,000 $665,000
Lowest Selling Price $9,250 $17,000

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.

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An Unexpected Expense

Wednesday, June 25, 2014
by The Hat Team

In a study released by TD Bank, 65% of buyers with mortgages that required mortgage insurance said the higher monthly payment was more than they originally expected.

peoplePrivate mortgage insurance is required on loans that exceed 80% of the home’s value.  For conventional loans, the premiums range from 0.5% to 1% annually.  The PMI could add close to $100.00 a month to the payments on a $200,000 mortgage and over $200.00 a month on a FHA mortgage.

FHA has two components to its mortgage insurance which includes an up-front charge on closing of the loan and an annual charge.  The up-front premium is 1.75% of the mortgage which can be paid in cash at closing or added to the mortgage amount.  The annual premium ranges from 0.45% to 1.35% depending on the loan-to-value and term of the mortgage.

Most lenders are required to automatically cancel coverage when a 78% loan-to-value is reached which on a 30 year loan with normal amortization could be eight to eleven years depending on original loan amount and interest rate.   If the value of the home has increased as documented by an appraisal so that the current mortgage is below 80% loan-to-value, the lender can be petitioned to eliminate the PMI.

Beginning in April, 2013, FHA requires the mortgage insurance to be paid for the entire term of the mortgage.   Prior to this rule change, it was required to remain in effect for a minimum of five years but could be cancelled when the mortgage is reduced to 78% of the original purchase price.

A homeowner can greatly reduce their cost of housing by avoiding mortgage insurance with a minimum 20% down payment.  If a higher loan-to-value mortgage is required to purchase the home, the objective should be to pay down the mortgage amount to relieve the need for the mortgage insurance.   Generally, loans with lower loan-to-value mortgages also have lower interest rates.

Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

Interested in buying a bank-owned home? Get bank-owned listings alerts FREE!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

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What Younger Buyers Want In a Home

Saturday, June 21, 2014
by The Hat Team

As a seller, you most likely already know that today's breed of buyers is unlike the generations that came before. home buyersTech savvy and always on the go, Millennial buyers—a blanket term that includes Generation Y and the Echoboomers—have different expectations from their parents when it comes to buying a Montgomery AL home.

  • A recent survey of Millennials (ages 18 to 34) by the home builder PulteGroup found that among the top home desires are an open layout for the kitchen and family rooms that allow for easy entertaining.
     
  • Ample storage is high on the “must have” list, and large, walk-in closets are coveted.
     
  • The next generation wants space for TV, movie, and sports watching.  Many buyers now prefer high-tech rooms with surround sound, large-screen TV’s, and the most up-to-date A/V equipment to the coveted formal dining room or living room of past generations.
     
  • In order to accommodate today’s fluid lifestyle, a Montgomery AL home with “flex space”--a room that can be converted into a home office, a guest room, or a nursery, eg,-- provides options for both current and future needs of the young buyer.
     
  • Nearly all young buyers prefer gleaming hardwood floors to make a space feel less confined and give it a new, clean feeling. 
     
  • “Green” and smart homes are also high on the Millennials’ wish list.  Energy-efficient appliances and windows are expected, and these buyers are impressed by home automation systems.  Having grown up with smartphones, apps, and Google searches, they want to use technology not only in their search for a home but also throughout the home itself.  A spring survey by Better Homes & Gardens Real Estate shows that 77 percent of Gen X & Gen Y home buyers want their homes “equipped with the technological capabilities they have grown accustomed to.”
     
  • Also increasing in popularity are smaller living spaces and one-floor homes.  Likewise, urban residences are gaining appeal since active and social young buyers want to be near transit hubs and are looking for buildings with amenities. They often want a full-time concierge, a full-service gym, even an in-house spa or business center.

Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

Interested in buying a bank-owned home? Get bank-owned listings alerts FREE!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

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Montgomery AL Real Estate: 529 Felder Ave

Monday, June 16, 2014
by The Hat Team

Montgomery AL Real Estate:

529 Felder Ave, Montgomery AL 36106
MLS# 310069

In The Heart Of Old Cloverdale!


529 felder ave

Check out this location in the heart of Old Cloverdale! Step into a huge living room with fireplace that looks into the dining room and has a great sunroom off of it that's perfect for an office or playroom. This charming house has beautiful hard wood floors and high ceilings. All of the bedrooms are spacious including the large den and enormous laundry room with lots of cabinets. Put your touch on the kitchen and two baths although you might even like them just the way they are. Relax on the private side deck or stroll to the restaurants, bars and stores just around the corner.

Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

Interested in buying a bank-owned home? Get bank-owned listings alerts FREE!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

 

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What You Need to Know Before Buying a Home

Monday, June 16, 2014
by The Hat Team

Buying a Montgomery AL home, especially if for the first time, requires a large investment of both your money and your time, for the experience can be complex and sometimes even intimidating.  Depending on professional advice montgomery al homeand knowing the right questions to ask, however, will expedite the process, boost your confidence, and help you make a wise decision.

Before you begin to ask questions, you need to check your credit score, analyze your finances, obtain mortgage pre-approval, and find a Realtor who is very familiar with and an expert on the precise neighborhoods that interest you.

Then you may want to ask the following questions:

1. Where do I want to live—and why?  Think about your lifestyle and what is important to you.  Investigate the schools, nearby amenities, house prices, commuting time, public transportation.  Ask about future plans for a neighborhood and talk to current residents about virtues/problems of the area.  Spend some real time (at various times of the day) in the neighborhood you’re considering.  Remember that while you can change paint color or appliances, the location of your home will remain the same,

2. What will my monthly expenses be?  In addition to the principal and interest on the loan, you should also be aware of—and prepared for—

  • Property insurance (do you need flood and/or mortgage insurance, too?)
  • Taxes
  • Utilities
  • HOA fees
  • Landscaping costs
  • Repairs and/or maintenance

3. Are all facts/figures on the listing accurate?  Do not take the information contained in the listing as absolute truth.  Make sure your agent double checks these facts directly with the source, like HOA offices, county tax pages, and the like.  Your Realtor should also check comparable prices in the area—active, pending, and sold (Comparative Market Analysis).

4. Have there been any past issues with this house?  It’s against the law to fraudulently conceal any major problems in your home, so ask the seller for a full disclosure of problems, both past and present.  Asking a seller to disclose material facts means you’re asking him/her to disclose anything about the house that might be problematic. While you can’t always force someone to sign a disclosure (depending on the laws in the state), you do have the right to leave any deal because of undisclosed (and known) problems.

Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

Interested in buying a bank-owned home? Get bank-owned listings alerts FREE!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

 

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Don't Leave Home Without...

Thursday, June 12, 2014
by The Hat Team

Planning a summer trip is usually focused on what you’ll do, see and experience.  Enjoy it even more by spending a little time before you leave to make sure your home is safe while you're gone.

remoteConsider these suggestions along with your other normal efforts:

  • Tell your neighbors you’ll be out of town and to be aware of any unusual activity.
  • Notify your alarm company .
  • Discontinue your postal delivery.
  • Use timers on interior lights to make it appear you’re home as usual.
  • Don’t make it easy for burglars by leaving messages on voice mail or posting on social networks.
  • Post on social networks about your vacation after you’ve returned.
  • Remove the hidden spare keys and give one to a trusted neighbor or friend.
  • Lock everything, double-check and set the alarm.
  • Take pictures of your belongings in case you need them.
  • Disconnect TVs and other equipment in case of unexpected power surges.
  • Adjust your thermostat.
  • Arrange for lawn care.
  • Consider disconnecting the garage door opener.
  • Put irreplaceable valuables in a safety deposit box.

 It’s nice to go out of town on a well-deserved trip and it’s always nice to get back home…especially when it is just the way you left it.

Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

Interested in buying a bank-owned home? Get bank-owned listings alerts FREE!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

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Record Improvements Now

Tuesday, June 10, 2014
by The Hat Team

There is a significant difference in how the money you spend on your home is treated for income tax purposes.  Repairs to maintain your home’s condition are not deductible unlike rental property owners who can deduct repairs as an operating expense.

On the other hand, capital improvements to a home will increase the basis and affect the gain when you sell which may save taxes.

filesAdditions to a home or other improvements that have a useful life of more than one year may be considered an increase to basis or cost of the home.  Other increases to basis may include special assessments for local improvements like sidewalks or streets and amounts spent after a casualty loss to restore damage that was not covered by insurance.

Unlike repairs, improvements add to the value of a home, prolong its useful life or adapt it to new uses.

You can read more about improvements and see examples beginning on the bottom of page 8 of IRS Publication 523.  For a form to keep track of money you spend, print this Improvement Register.

Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

Interested in buying a bank-owned home? Get bank-owned listings alerts FREE!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

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Montgomery AL Foreclosure Trends for April 2014

Saturday, June 7, 2014
by The Hat Team

In April, the number of properties that received a foreclosure filing in Montgomery, AL was 22% lower than the previous month and 37% higher than the same time last year, according to RealtyTrac.com.

Montgomery AL Foreclosure Status Distribution

The current distribution of foreclosures based on the number of active foreclosure homes in Montgomery, AL.

Auctions accounted for 64.4% of foreclosure activity in April 2014 and Bank-owned properties accounted for 35.6%.

montgomery al foreclosure

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties decreased 50.0% compared to the previous month and increased 54.2% from the previous year in April. The number of Auctions increased 11.7% compared to the previous month and 28.8% from the previous year.

montgomery al foreclosure

Montgomery AL Foreclosure Geographical Comparison

Montgomery AL foreclosure activity was 0.02% higher than national statistics, 0.03% higher than Alabama numbers and the same as Montgomery County statistics in April 2014.

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.

Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

Interested in buying a bank-owned home. Get bank-owned listings alerts FREE!

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Montgomery AL Home for Sale: 6421 Ashton Circle

Friday, June 6, 2014
by The Hat Team

Montgomery AL Home for Sale:

6421 Ashton Circle, Montgomery AL 36117
MLS# 309790

Gem Of a Townhouse!

6421 ashton circle

Don't blink or you will miss this gem of a townhouse tucked away in a private neighborhood just off Atlanta Highway in the heart of shopping and dining! This updated spacious home boasts a large great room with vaulted ceiling and fireplace. Open kitchen allows the cook to interact with family and friends. Large master bedroom has bonus room addition that could be a nursery, den/study, home office, or workout room. Private fenced back yard has covered porch and great gas fire pit (connected to city gas, so you never have to worry about changing out LP tanks!) Corner lot means no neighbors to the right. Priced to sell, so call your favorite agent NOW to view this home before someone beats you to it!

Search all Montgomery AL Real Estate And Homes For Sale.

Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.

Interested in buying a bank-owned home? Get bank-owned listings alerts FREE!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

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