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Montgomery AL Foreclosure Trends - August 2011

Thursday, September 29, 2011
by The Hat Team

There were 1,008 Montgomery AL foreclosure homes for sale with 80 new foreclosures in August 2011. The average selling price of a Montgomery AL home was $152,124 and the average foreclosure selling price was $82,798, a $69,326 savings, according to RealtyTrac.com.

Montgomery AL Foreclosure Activity and 30 Year Interest Rate

Montgomery interest rates averaged 4.27% in August while the number of foreclosed homes decreased from 92 in July to 80 in August.

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 0.10% lower than national statistics. 0.02% higher than Alabama and the same as Montgomery County statistics for the month of August.

montgomery al foreclosure

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties decreased from 68 homes in July to 55 in August. The number of Auctions increased from 24 to 25. There is a 6-month falling 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.

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.

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 Trends - August 2011

Friday, September 23, 2011
by The Hat Team

A number of research studies have shown that home ownership provides social and societal benefits. Not only is home ownership one of the best ways to build long-term wealth, providing resources for a more comfortable retirement, but it also fosters an immeasurable sense of community and stability vital to growing families.

NAR’s "Social Benefits of Homeownership and Stable Housing" report reveals that home owners are happier and healthier. They tend to vote more, volunteer more and contribute more to their neighborhoods. Home owners do not move as frequently as renters, which encourages more neighborhood stability, and children of home owners are more likely to participate in organized activities and spend less time in front of the television.

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

Midtown Montgomery real estate sales statistics for August show the average sales price decreased by 13% to $112,293 when compared to August 2010.  The number of homes sold was consistent with August 2010.  The median sales prices decreased by 16%, and market times increased 11% or 13 days.  The highest selling home price increased by 18%, and the lowest selling home price decreased by 19%.

Midtown Montgomery August 2011 August 2010
Homes Sold 29 29
Average Selling Price $ 112,293 $ 129,283
Median Selling Price $ 94,000 $ 112,500
Days On The Market 122 109
Highest Selling Price $ 465,000 $ 380,000
Lowest Selling Price $ 12,000 $ 14,900

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

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.

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

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

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Questions To Ask Before Buying Montgomery AL Real Estate

Friday, September 16, 2011
by The Hat Team

So your life circumstances indicate that now is the time for you to buy a piece of Montgomery AL real estate. Perhaps this will be your first home or you need a larger space to accommodate a growing family. You may be in search of a better school district or be forced to move because of your job. Whatever the reason for your housing search, there are four basic areas you need to investigate and specific questions you should ask before making a final decision on any house.

WISH LIST:

Before you actually tour any Montgomery AL real estate, you should determine exactly what you are looking for by asking yourself (and your family members) questions such as “What type of house do I want”? How much space will I need? What type of community and amenities are important to me? How much can I realistically afford to pay?

LOCATION:

Once you have narrowed down your neighborhood choices, do further exploration of these locations by asking about zoning, since apartments and commercial/industrial buildings lower the real estate value of homes. Is the appearance of the community appealing? Does the school district have a good reputation/rating? What about noise? Consider nuisance factors such as traffic sounds, barking dogs, railroad tracks, etc.--anything that will disturb or annoy you on a recurring basis. Ask, too, about property easements, commuting time to and from work, and demographics. Will you be the only family with young children or the sole 50+ resident in the neighborhood?

CONDITION OF THE MONTGOMERY AL REAL ESTATEquestion mark:

In order to determine and structural or maintenance issues, ask about the age of the house, roof, and appliances. What kind of foundation and insulation does the home have? If you’re looking at an older property, ask if the plumbing and electrical systems have been updated. Has the house been inspected or appraised recently, and, if so, were any problems documented? Will the exterior of the residence require annual maintenance?

COST:

Asking the right questions in this area is extremely helpful in determining your offer on the Montgomery AL real estate. Inquiring about neighboring comps, what the seller paid, and how much he owes will give you an idea of the rise/fall of nearby prices and alert you to possible short sale or foreclosure status. Ask how long the house has been on the market and if there have been any offers; perhaps the seller will be willing to negotiate price or offer incentives. Addition inquiries should be made re: the cost of insurance and property taxes on the property and the amount of any homeowners’ association fees.

Arming yourself with answers to questions such as these should help you make an educated decision as to whether or not a particular piece of Montgomery AL real estate is for you.

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.

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

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Tips For Maintaining The Appliances In Your Montgomery AL Home

Friday, September 9, 2011
by The Hat Team

The average homeowner has thousands of dollars invested in major appliances, so it makes good sense to operate and maintain them properly to protect your investment and ensure that they will provide many years of trouble-free service. As an added bonus, proper maintenance and use almost always results in a decreased consumption of electricity/gas in your Montgomery AL home.

soapThe following suggestions are helpful tips in appliance care:

REFRIGERATOR:

  • Clean cooling coils which are located at floor level with a coil brush once or twice a year.
  • Clean interior shelves and gaskets every three months
  • Keep the temperature at 37 degrees
  • Check to see if the door(s) is sealing properly. If it won’t hold a dollar bill in place, it isn’t.
  • Vacuum underneath and behind the unit every year or two.

DISHWASHER:

  • Regularly check the filter and clean the inside of the unit.
  • Occasionally run an empty cycle to clear inner workings and hoses. Other, run only with a full load.
  • Run the garbage disposal in your Montgomery AL home before running the dishwasher.
  • Let dishes air dry whenever possible.
  • Make certain that the dishes do not obstruct the rotating arm sprays.
  • Recoat rust spots with a rubber-like fluid found in hardware stores. In addition, replace broken rollers and insert replacement tips on damages vertical prongs.
  • Reopen clogged holes in spray arms with hot vinegar and a safety pin.

WASHING MACHINE:

  • Check resiliency of older rubber hoses and replace with metal ones if necessary.
  • Add detergent before you load the washer.
  • Make sure there is a clear path from the unit to the floor drain.

DRYER:

  • Clean lint trap after each load.
  • Use a dry paint brush to clean lint from corners and cracks in the unit’s interior annually.
  • Disconnect and thoroughly clean the duct pipe every three to five years.
  • Once a year clean the outside of the exhaust tubing.

STOVE:

  • Keep reflector bowls clean at all times.
  • Test the seals on the oven door with the dollar bill trick mentioned above.
  • Periodically check the exhaust fan in your Montgomery AL home for grease build-up.

GARBAGE DISPOSAL:

  • Run the disposal for 30 seconds with each use.
  • Always run cold water when using the disposal to maintain the integrity of the blades and coagulate any grease (thus making it easier to chop)
  • Continue to run water for a while after the unit is shut off.
  • Put larger amounts of food into the garbage rather than down the drain.
  • Occasionally add vinegar or citrus peels to deodorize and prevent buildup of food particles.

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.

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

Add Comment

Montgomery AL Foreclosure Trends - July 2011

Friday, September 2, 2011
by The Hat Team

There were 1,069 Montgomery AL foreclosure homes for sale with 92 new foreclosures in July 2011. The average selling price of a Montgomery AL home was $146,582 and the average foreclosure selling price was $76,628 a $69,953 savings, according to RealtyTrac.com.

Montgomery AL Foreclosure Activity and 30 Year Interest Rate

Montgomery interest rates averaged 4.55% in July while the number of foreclosed homes decreased from 100 in June to 92 in July.

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 0.07% lower than national statistics. 0.01% higher than Alabama and the same as Montgomery County statistics for the month of July.

montgomery al foreclosure

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties increased from 64 homes in June to 68 in July. The number of Auctions decreased from 36 to 24. There is a 6-month falling 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.

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Midtown Montgomery Real Estate Trends - July 2011

Friday, August 26, 2011
by The Hat Team

At least one fear was not realized amid last week’s stock market meltdown according to CNNMoney.com: the concern that mortgage rates would immediately shoot higher in response to Standard & Poor's downgrade of Fannie Mae and Freddie Mac, the government-sponsored entities that are the 800-pound gorillas of the mortgage market. In fact, the initial response to Fannie and Freddie getting cut to AA+ from AAA was precisely the opposite. Mortgage rates were poised to continue declining.

Mortgage rates are set off of the interest rates on U.S. Treasury notes and bonds. Even though Standard & Poor's pulled its AAA rating of the United States, investors still rushed into U.S. Treasury securities as a safe haven, believing more in the "full faith and credit of the United States" than in the opinion of Standard & Poor's credit analysts. As investors snapped up Treasury notes and bonds they pushed down interest rates on those securities, which move inversely to prices.

Analysts warn the drop in interest rates may not last. If investment flows were to move back into stocks and out of bonds, interest rates on Treasury securities, and consequently mortgages, would rise. "Over the long-term, if the U.S. has to pay more in interest rates, consumer rates will likely go up," said Greg McBride, senior financial analyst for Bankrate.com.

For now, lower mortgage rates may offer only limited benefits to American consumers. Banks' lending standards have been tough recently, and consumers need the wherewithal to qualify for loans. That appears increasingly difficult as the economy continues to sputter.

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

Midtown Montgomery real estate sales statistics for July show the average sales price decreased by 18% to $114,292 when compared to July 2010.  The number of homes sold increased by 36% in July.  The median sales prices decreased by 10%, and market times increased 10% or 15 days.  The highest selling home price decreased by 36%, and the lowest selling home price decreased by 43%.

Midtown Montgomery July 2011 July 2010
Homes Sold 25 16
Average Selling Price $ 114,292 $ 138,794
Median Selling Price $ 100,000 $ 110,950
Days On The Market 155 140
Highest Selling Price $ 320,000 $ 500,000
Lowest Selling Price $ 4,000 $ 7,000

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.

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.

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

Add Comment

Tips For Improving Your Score

Friday, August 19, 2011
by The Hat Team

Your credit score is a number that helps lenders predict how likely you are to make your payments on time. This score affects your ability to obtain credit and helps determine what you pay for credit cards, auto loans, and mortgages on Montgomery AL homes. Even your insurance rate is related to your score. The higher your score, often referred to as a FICO score, the more apt you are to be approved for and pay a lower interest rate on new loans. Scores ranging from 650 and below are considered bad and indicate to the lender that you are a very high risk. Chances are you will be unable to secure a loan, or if you are, it will be at a much higher interest rate and/or require a cosigner.

What If there Are Errorsup

What to do if you have a low score and do not qualify for a mortgage on a Montgomery AL home? Your first action should be to check your credit report for errors. If you find erroneous information, you need to act immediately by contacting both the credit bureau (the three major ones are Equifax, Experian, and Transunion) and the organization that provided that information.

  • The credit bureau/agency: Send a certified, return receipt requested letter to the bureau pointing out each inaccuracy and enclose copies of documents which support your claim as well as the report itself (with the misinformation highlighted). Factually explain why you dispute each item and request a deletion or correction for each one.
  • The creditor or information provider: Send the same type of letter and enclose the same documents. Request that the provider notify you of action taken (generally within 90 days) so that you can verify the amended information.

If there are no errors on your report, then you should take immediate steps to improve your credit. Ways to do this include the following:

  • Stop using your credit cards. Do not continue to accumulate debt.
  • Get current on delinquent accounts. Since payment history makes up 35% of your score, this action will have a great impact on your score.
  • Keep accounts with balances open, but don’t apply for more credit.
  • Call your creditors. Explain your financial situation and ask about possible hardship programs which will temporarily reduce your monthly payments.
  • Begin paying off your existing debts, even if you have to sell some belongings to do so. Come up with a get-out-of-debt plan and stick to it.
  • Get professional help. There are resources available to help you reestablish a good credit rating. Contact the National Foundation for Credit Counseling for assistance.

7. Be patient. Realize that improving your credit score takes time and that there is no quick-fix --and keep in mind your goal of owning a Montgomery AL home.

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.

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

Add Comment

Montgomery AL Foreclosure Trends - June 2011

Thursday, August 4, 2011
by The Hat Team

There were 1,098 Montgomery AL foreclosure homes for sale with 100 new foreclosures in June 2011. The average selling price of a Montgomery AL home was $129,246 and the average foreclosure selling price was $71,141 a $58,105 savings, according to RealtyTrac.com.

Montgomery AL Foreclosure Activity and 30 Year Interest Rate

Montgomery interest rates averaged 4.64% in June while the number of foreclosed homes decreased from 111 in May to 100 in June.

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 0.07% lower than national statistics. 0.03% higher than Alabama and the same as Montgomery County statistics for the month of June.

montgomery al foreclosure

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties increased from 52 homes in May to 64 in June. The number of Auctions decreased from 59 to 36. There is a 6-month falling 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.

Add Comment

Midtown Montgomery Real Estate Sales - June 2011

Thursday, July 28, 2011
by The Hat Team

Most Americans still believe that owning a home is a solid financial decision, and a majority of renters aspire to home ownership as a long-term goal. According to the 2011 National Housing Pulse Survey released today by the National Association of Realtors®, 72 percent of renters surveyed said owning a home is a top priority for their future, up from 63 percent in 2010. 

Seven in 10 Americans also agreed that buying a home is a good financial decision while almost two-thirds said now is a good time to purchase a home. The annual survey, which measures how affordable housing issues affect consumers, also found that more than three quarters of renters (77 percent) said they would be less likely to buy a home if they were required to put down a 20 percent down payment on the home, and a strong majority (71 percent) believe a 20 percent down payment requirement could have a negative impact on the housing market. 

Some key findings from this year’s survey include:

  • Seven-in-ten Americans (71 percent) say requiring a down payment of twenty percent on the cost of a home would have a negative impact on the overall American housing market.
  • More than three quarters of renters (77 percent) say they would be less likely to buy a new home if they were required to make a 20 percent down payment. Among current homeowners, four-in-ten (39 percent) say they would not have been able to buy their current home if they been required to make a 20 percent down payment.
  • Having enough money for a down payment and closing costs is the largest obstacle that makes housing too expensive and unaffordable (82 percent say it is a “huge” or “medium-size” obstacle).
  • Two in every three Americans (67 percent) oppose eliminating the home mortgage interest deduction as one part of a plan to reduce the federal deficit. Underscoring the intensity of this opinion, a majority of Americans (51 percent) strongly oppose eliminating it.
  • Even more Americans (73 percent) believe that eliminating the home mortgage deduction would have a negative impact on the American housing market, while 65 percent say it would have a negative impact on the overall economy.
  • While fewer Americans than in the past agree, the overwhelming majority (72 percent) still say that buying a home is a good financial decision. Almost two–thirds (64 percent) say that now is a good time to buy a home.
  • The stalled economy continues to adversely affect the housing market. Confidence in job security is a top obstacle (80 percent say “huge” or “medium-size”) to home ownership, while job layoffs and unemployment are ranked as the top problem facing Americans (61 percent say it is a “very big” or “fairly big” problem in their area).

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

Midtown Montgomery real estate sales statistics for June show the average sales price increased by 2% to $151,399 when compared to June 2010.  The number of homes sold decreased by 16% in June.  The median sales prices increased by 13%, and market times increased 5% or 6 days.  The highest selling home price decreased by 23%, and the lowest selling home price increased by 7%.

Midtown Montgomery May 2011 May 2010
Homes Sold 22 45
Average Selling Price $ 150,975 $ 166,925
Median Selling Price $ 111,450 $ 118,900
Days On The Market 121 103
Highest Selling Price $ 480,000 $ 750,000
Lowest Selling Price $ 12,500 $ 5,100

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

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.

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

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

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Montgomery Real Estate Podcast - July 2011

Friday, July 22, 2011
by The Hat Team

Sandra Nickel of The Hat Team presents:



podcast
This month's edition covers Montgomery real estate market activity and then we'll discuss improvement projects that generate ROI.

Features special guest Terri Murphy of US Learning.


Program length: approximately 6 1/2 minutes
download podcast mp3 file | subscribe to podcast feed
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