Real Estate Information Archive

Blog

Displaying blog entries 1111-1120 of 1264

Montgomery Real Estate For Sale: 2731 Garden Brook Court Montgomery, Al 36116

Friday, September 24, 2010
by The Hat Team

Montgomery Real Estate For Sale: 2731 Garden Brook Court Montgomery, Al 36116

If you are looking for a low maintenance move in ready property under $100,000, look no further. This like new garden home has been spiffed up and is ready to go. Open floor plan makes the space seem much larger than it looks! Quiet community tucked away from the rest of the world.

Learn more about 2731 Garden Brook Court and other Montgomery Real Estate by visiting HatTeam.com.

Search all Montgomery Real Estate and homes for sale.

 

Add Comment

Montgomery AL Real Estate Sales Statistics - August 2010

Thursday, September 23, 2010
by The Hat Team

Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery, according to the National Association of Realtors. The recovery looks to be a long process with job numbers being lower than expected in the last couple of months. However, affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates. The loan underwriting standards are tighter, but home buyers can improve their chances of getting a loan by staying well within their budget.

Take a look at how the Montgomery AL real estate market fared in August.

Montgomery AL real estate sales statistics for August show pending sales have decreased by 48% in 2010 compared to August 2009. The average sales price decreased by 2% to $134,119 while sold listings were down by 36% from 2009.  Market times decreased in 2010 by 4 days.

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

Aug 2010

33

27

104

$134,119

Aug 2009

64

42

108

$136,850

For the latest Montgomery AL 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.

Add Comment

Changes Coming To FHA Mortgage Insurance Premiums

Thursday, September 16, 2010
by The Hat Team

Congress has authorized FHA to change the amount charged to borrowers for both the Up Front and the Annual Mortgage Insurance (MI) premiums. These changes as outlined in Mortgagee Letter 2010-28, are effective for all FHA case numbers assigned on or after October 4th, 2010.

Here are the six things you need to know about these changes if you are buying a Montgomery home:

  1. montgomery homeThe MI premium changes apply to purchases, regular refinances and streamline refinances only (reverse mortgages have different MI premium changes).

  2. The current Up Front MI premium is 2.25% of the loan amount and the new Up Front MI premium will be 1.0% of the loan amount for all standard FHA programs.

  3. The current monthly MI premium is .55% and the new monthly MI premium will be .90% if the Loan-to-Value is GREATER than 95% on 30 year loans. Since most buyers put only the minimum 3.5% down this applies to most loans.

  4. The current monthly MI premium is now .50% for Loan-to-Values EQUAL to or LESS than 95% on 30 year loans and the new monthly MI premium will be .85%.

  5. The Annual premium is now .25% for Loan-to-Values GREATER than 90% on 15 year loans.
  6. There is no monthly MI premium Loan-to-Values EQUAL to or LESS than 90% on 15 year loans.

FHA is still a fantastic loan program and appropriate for many Montgomery home buyers to qualify as FHA is more lenient on credit scores than conventional loans. The reduction in upfront MI (which is typically financed into the loan) is terrific since this was a big chunk of the down payment. However, the hike in the monthly MI will definitely make conventional loans with Private Mortgage Insurance more attractive again for those buyers who can qualify for either loan option.

Future Increases

This new law also gives FHA the authority to raise the Annual MI premium, at will, up to 1.5% for Loan-to-Values at or below 95% and 1.55% for Loan-to-Value more than 95%. If that were to occur, FHA loans would be far less competitive than conventional PMI.

If you have questions about the changes to the Up Front and Annual MI premiums and how it will impact your Montgomery home purchase or refinance, please feel free to give me a call so we can discuss over the phone.

Add Comment

Tips For Buying Montgomery Real Estate Foreclsoures

Thursday, September 9, 2010
by The Hat Team

Although the term “foreclosure” generally has a negative connotation, for many home buyers/investors the purchase of such a property can be attractive due to the discounted price. Because a foreclosure sale frequently is more time-consuming and often offers less buyer protection, it is necessary to take the following steps to assure that the process will go as smoothly as possible.

foreclosureIdentify foreclosure properties: First, check with a REALTOR who is familiar with such offerings in the Montgomery real estate market. Then ask your bank about any holdings they may have. A third source is the web. Simply enter REO’s and the name of a specific lender, such as Bank of America, Citibank, Chase, etc. Other available sites charge between $20.00 and $50.00 per month to search foreclosures on a continuing basis for potential buyers (see www.BankHomesDirect.com or www.RealtyTrac.com ).

Protect yourself:

  • Get a home inspection. Many foreclosed homes are in poor condition and may be without appliances and utility services. Often these properties have been vacant for long periods of time and have been damaged by poor weather conditions and no upkeep. The lender offering the home hasn’t lived in it and is therefore unable to make a full disclosure about its true condition. For these reasons, a complete inspection by a qualified professional is crucial.
  • Obtain title insurance. This will protect you from any unforeseen liens against the property or any claims by previous owners.
  • Hire an attorney. You will benefit from the expertise of a lawyer familiar with foreclosures. Legal services provided may include drawing up a contract with protective escape clauses or representing your interests in case of a dispute. Go to www.BestPropertyLawyer.com to find a Montgomery real estate attorney,
  • Use the services of a REALTOR experienced in dealing with foreclosures. A knowledgeable realtor will guide you through a sometimes complicated process, prevent you from making mistakes, and save you headaches and frustration.

Follow the requirements of the lender in a timely manner: Expect the lender to ask for a full disclosure of your finances; some may even require you to get mortgage approval from their institution. At the least you will have to supply proof that your financing is guaranteed. It is also recommended that you submit a clean offer, keeping in mind that most foreclosure properties are offered “as is” and at a 20%to 30% discount. Bargaining for a better deal may result in no deal at all.

Learn more about Montgomery real estate and foreclosures.

Add Comment

Montgomery AL Real Estate Sales Statistics - July 2010

Friday, August 27, 2010
by The Hat Team

Pending home sales in June edged lower in contrast to the spring surge when buyers rushed to take advantage of the home buyer tax credit, according to the National Association of Realtors®.

The Pending Home Sales Index declined 2.6 percent to 75.7 based on contracts signed in June. Down from 77.7 in May, and is 18.6 percent below June 2009 when it was 93.0. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, said lower home sales are expected in the short term. “Over the short term, inventory will look high relative to home sales. However, since home prices have come down to fundamentally justifiable levels, there isn’t likely to be any meaningful change to national home values. Some local markets continue to show strengthening prices.”

Let’s take a look at the Montgomery AL real estate market for July.

Montgomery AL real estate sales statistics for July show pending sales have decreased by 5% in 2010 compared to July 2009. The average sales price increased by 3% to $134,969 while sold listings were down by 18% from 2009.  Market times increased in 2010 by 39 days.

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

July 2010

38

23

128

$134,969

July 2009

40

28

89

$131,554

For the latest Montgomery AL 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.

Add Comment

Selling Montgomery Real Estate The Smart Way

Thursday, August 19, 2010
by The Hat Team

In today’s competitive housing market, buyers can afford to be selective. It is, therefore, up to the seller to anticipate the demands of the buyer and act accordingly. The ten strategies listed below will help you accommodate the buyer’s needs and make certain the selling of your Montgomery real estate is a succes.

montgomery real estate1. Price sensibly. Listing too high initially is doubly dangerous. Price-savvy potential buyers will simply bypass your home in favor of more realistically priced Montgomery real estate, thus limiting your market. In addition, you’ll have to lower your price eventually, possibly below market level, to capture their attention.

2. Utilize professional expertise. Far too many sellers come to regret their attempt to avoid a paying a sales commission when they are unable to generate widespread exposure on their own. To their dismay, they also find that potential buyers expect a far lower price on a FSBO.

3. Make needed repairs. Buyers want a home that is in good condition, up to date, and “move-in ready.” Be sure that all systems, the roof, appliances, etc., are in good working order and replace fixtures that look out-of-date.

4. Simplify the setting. Make room! Too much furniture makes rooms appear smaller, and too many accessories draw the buyer’s attention away from your home’s assets. De-clutter cupboards, counters, and other flat surfaces. Make space in your closets and storage areas, and allow for an open traffic pattern. Put away personal items. Buyers need to be able to visualize their own furniture and belongings in what could be “their” new home

5. Keep it clean! Odors and dirt are real turn-offs to potential buyers.

6. Provide curb appeal. The exterior of your home must invite buyers to come inside. Remove weeds, trim trees and bushes, present a healthy lawn, and maintain an attractive appearance at all times. Don’t forget power washing or repainting, if needed. Add a pot of colorful flowers and a new welcome mat for extra charm and a successful showing.

7. Allow for accessibility. The more showings of your Montgomery real estate you have, the greater the chance of a successful sale. Buyers want easy access to the homes they visit. Your realtor will help you make satisfactory arrangements for optimum availability, use of a lock box, advance notification, etc.

8. Stay away during showings. Buyers viewing your home need to take their time to thoroughly it and fee free to voice their reactions to the realtor. Also, if you’re not there, you can’t say anything which might hurt the prospect of a sale.

9. Avoid misrepresentation. Your realtor will advise you of local disclosure laws, and it is important that you comply with them. Attempts to hide a defect will only result in problems later on and may well derail a potential sale.

10. Be flexible. Selling you home can feel like a personal transaction, and sometimes emotions threaten to overshadow logic. Listen and react to all contract proposals as objectively as possible. Know in advance what your needs are re: price, which items convey, settlement time frame, etc. Try to keep in mind the big picture and resist getting hung up on the small things.

The sale of your home depends on both your realtor and you. By working as a team and utilizing the ten strategies outlined above, the process has a greater chance of being a productive and successful sale.

Learn more about selling Montgomery real estate.

Find out what your Montgomery real estate is worth?

Add Comment

Montgomery Real Estate Podcast - August 2010

Friday, August 13, 2010
by The Hat Team

Sandra Nickel of The Hat Team presents:





montgomery real estate, podcastThis month's edition covers Montgomery real estate market activity and then we'll discuss how to avoid surprises as mortgage underwriters are refreshing credit scores prior to closing.

Features special guest Terri Murphy of US Learning.


Program length: approximately 8 minutes

download podcast mp3 file   |    subscribe to podcast feed
Add Comment

Montgomery Foreclosure Trends - June 2010

Friday, August 6, 2010
by The Hat Team

There were 1,387 Montgomery foreclosure homes for sale with 172 new foreclosures in June 2010. The average selling price of a Montgomery home was $157,643 and the average foreclosure selling price was $66,029, a $91,614 savings, according to RealtyTrac.com.

Montgomery Foreclosure Activity and Home Price Index

Home price appreciation remained was 0.0% in June while the number of new Montgomery foreclosure homes increased to 172.

montgomery foreclosure

Montgomery foreclosure activity is based on the total number of properties that receive foreclosure filings - default notice, foreclosure auction notice or repossession notice - each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.

Montgomery Foreclosure Geographical Comparison

Montgomery foreclosure activity was 0.08% lower than national statistics and 0.08% higher than Alabama statistics for the month of June.

montgomery foreclosure

Montgomery Foreclosure Activity by Month

The number of Bank-Owned properties increased from 90 homes in May to 108 in June. The number of Auctions increased from 62 to 64. The 6-month trend reflects a rise in Montgomery foreclosures.

montgomery 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

Montgomery AL Real Estate Sales Statistics - June 2010

Wednesday, July 28, 2010
by The Hat Team

Congress recently extended the home buyer tax credit closing date to September 30. The measure would give more time to thousands of qualified home purchasers, who through no fault of their own are unable to meet the current closing deadline of June 30; however the measure would not extend the deadline for home buyers to qualify for the tax credit. The deadline extension applies only to homebuyers who have ratified contracts in place as of April 30, 2010, but could not close before June 30.

The April 30 deadline created a surge of home sales in April. Let’s take a look at the Montgomery AL real estate market for June.

Montgomery AL real estate sales statistics for June show pending sales have increased by 8% in 2010 compared to June 2009. The average sales price increased by 18% to $165,049 while sold listings were up by 3% from 2009.  Market times were the same as 2009.

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

June 2010

37

39

99

$165,049

June 2009

34

38

99

$135,350

For the latest Montgomery AL 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.

Add Comment

Go Green For a Faster Montgomery Home Sale

Saturday, July 24, 2010
by The Hat Team

Many of today’s buyers in the market for a Montgomery home are looking for one that is eco-friendly. They want a house that is energy-efficient and combats detriments to the environment. Listed below are some relative easy to do and cost-efficient ways you can appeal to potential eco-conscious buyers.

1. Insulate. Insulate. Insulate.
green homeUse pipe insulators to keep hot water hot for a longer time and a hot water heater blanket ($10.00 to $20.00) to both prevent temperature loss and reduce the amount of electricity/gas needed to maintain the water temperature. Be aware that the further heat or air conditioning has to travel, the greater the temperature loss. Insulating your heating and cooling ducts can prevent up to 60% of this loss. Remember that even a small area of inadequate or damaged insulation can greatly reduce efficiency.

2. Reduce heating/cooling expenses.
Replace or clean all filters on a regular basis to reduce inefficiency. Eliminate all sources of drafts by checking windows, doors, electrical outlets, fireplaces, and attic floors for leaks (even small cracks lead to energy loss) and by using caulking or weather stripping to seal them. In addition, for a cost of $200 to $400, you can run a blower door test to discover the main, and many times hidden, sources of energy leaks in your home.

It is also important to schedule a HVAC cleaning/checkup every two years and to investigate the need for a programmable thermostat to save energy while you sleep or are away from home. If your windows, aging appliances, furnace, or hot water heater needs to be replaced, you should certainly consider purchasing ENERGY STAR products to save 10% to 30% of the usual operating costs.

3. Consume less water.
Since your Montgomery home is located in a resort area, water bills are generally high. Take steps to reduce this expense by installing low flow showerheads, toilets, and faucet aerators.

4. Don’t ignore the outside.
Planting shade trees and shrubs in strategic locations on the grounds of your Montgomery home can lower your cooling costs by as much as 25%, and because they also act as wind barriers, your heating costs can be reduced by up to 20%. In addition, the leafless trees will allow sunshine through in the winter (good for mental health as well as warmth). Also consider water conservation when landscaping. Look for lawn grasses and plants that are drought resistant and natural to the area.

The “Go Green” slogan is not a passing fad. Realistic buyers, who are both cost-conscious and ecologically aware, want to own a Montgomery home that reduces their day-to-day utility expenses and allows them to play a part in preserving the environment. The purchase of a green home benefits both the buyer and the seller in today’s market.

Learn more about buying a Montgomery home.

Search all Montgomery homes for sale.

Add Comment

Displaying blog entries 1111-1120 of 1264

Syndication

Categories

Archives

   cdpe    crsHat Lady on Zillow