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Borrowing Is More Difficult For Montgomery Home Buyers

by The Hat Team

Montgomery home buyers with poor credit are having a more difficult time qualifying for a mortgage in a changing real estate market due to sub-prime lending practices. Sub-prime lending is the loaning of money, primarily for home equity loans, to people with spotty credit or the credit challenged, shall we say.

 

Skyrocketing property values in the past few years made it easy for homeowners to borrow heavily against their homes with second mortgages and home-equity loans. But as housing prices have leveled off, overextended homeowners are now defaulting because they cannot afford higher mortgage payments and can no longer refinance.

 

Every where you look, including websites such as BankRate.com, you see information about the dramatic increase in foreclosures due to sub-prime lending. In the wake of increased foreclosures, lenders are tightening their belts and increasing loan qualification limits. The majority of sub-prime borrowers are either lower income or minority borrowers, and the stricter loan qualifications are making it tougher for them to obtain financing.

 

As these alternative credit programs (loans for credit-challenged borrowers) disappear, it becomes increasingly important that home-buyers deal with an agent whose background and training include mortgage financing techniques.  No matter how tough lenders become, they all have what is called a Community Reinvestment Act obligation to reach out to marginal borrowers. 

 

We, at The Hat Team, not only have the knowledge and experience to help you find financing for your new home, we have a network of well-qualified, reputable lenders who will do everything they can to assist you also.

 

You can learn more about us at HatTeam.com or give us a call, 800-428-5239. We are at your service!

Alabama Ranks In Top 10 For Health Care

by The Hat Team

Expansion Management, a publication for executives looking to expand or relocate their businesses, awarded Alabama a 5-Star rating based on five major health care categories and ranked Alabama in the top 10 states in its annual 'Healthcare Cost Quotient' rankings.

Categories included health care facilities, health care providers, health insurance costs, health care provider costs, and malpractice insurance costs.  Full article...

5-Star rankings aid in bringing businesses and jobs to Alabama, which in turn increased our property values. Wondering what your property value is? Visit MontgomeryHomeInfo.com for a no-hassle home valuation. Your valuation will be emailed to you. And to talk with us in person, call 800-428-5239.

Montgomery Tap Water Ranks In Top 10

by The Hat Team

Men's Health magazine conducted a study of tap water in 100 cities across America. We can be proud of Montgomery 's ranking of 9 out of  the 100 cities.

The magazine examined the most recent data on levels of arsenic, lead, halo-acetic acids and total trihalomethanes (linked to cancer), and total coliform bacteria, plus the number of EPA water-system violations from 1995 to 2005.

Denver, CO came in first, while Phoenix, AZ came in last. The report assures Phoenix their water supply is safe, just below 99 other cities.

The quality of our tap water is just another reason to live, work and own a home in Montgomery. Are you a Montgomery home buyer needing assistance? Give us a call, 800-428-5239. We'll put our Team of specialists to work for you!

Bright Outlook For Alabama Economy

by The Hat Team

The Central Alabama Business Journal reports a bright economy for Alabama in the next few years. We have lagged behind the rest of the country in the last few years, but that has changed and we are ahead of the national averages.

Alabama’s population and median family incomes are topping the country’s gains. Our median family income has been inching closer to the national median of $62,400 and now at $51,400 is 86 percent of the national median – the state’s highest reading.

The state’s overall economy is forecast to grow 2.5 percent in 2007, just ahead of the Global Insight’s 2.4 forecast for the country. But, according to University of Alabama’s Center for Economic Research, the state’s economy could easily hit 2.9 percent.

The report also states Alabama real estate is undervalued in most cities, making us a great place to invest. If you are interested in buying Montgomery real estate, visit EmailMontgomeryAlabamaHomes for an automated email home search. Or, contact us, 800-428-5239, for your Montgomery real estate needs.

Central Alabama Buniness Journal full report...

CRS Sell-a-bration Guest Speaker - Sandra Nickel

by The Hat Team

Last week, I was a featured speaker at the 19th annual CRS Sell-a-bration® held last week in Las Vegas, NV.

The Certified Residential Specialist designation is held by the top 4 percent of Realtors around the world. Sell-a-bration®, held annually, was attended by 1,000 of these top producing agents.

My topic, Taking Your Business To The Next Level, included how to take your real estate business from 0 to 50 units and beyond, the importance of business planning, branding, and client for life programs.It was an honor for me to be invited to address one of the industry’s most exclusive gatherings. The annual Sell-a-bration® provides a forum for top agents and brokers in residential real estate to interact with and learn from one another. Sell-a-bration® features unparalleled education sessions, top keynote speakers, and social and networking opportunities, which provide attendees with ideas and techniques that will have an immediate impact on their businesses.

 

“My clients are continually complimenting me on the service, tools and technology I use to meet their needs. I owe that to my association with the CRS members and to the fact that we share among ourselves so freely.  In short, as s Certified Residential Specialist, I am surrounded by the best agents in real estate. I share with them, they share with me, and we all translate our newfound knowledge into increased services for our clients.”

HSBC Offers 6 Percent Interest

by The Hat Team

The Montgomery Advertiser has reported HSBC Bank USA is boosting the interest rate of its online savings account to 6 percent -- topping its competitors. The increase is an effort to attract deposits from people who are getting year-end bonuses or expect tax refunds.

There are new tax laws effecting charitable contribution deductions. For your convenience, we have put information concerning these new guidelines on our website. We hope you find this helpful!

The Power Of Two

by The Hat Team

The Montgomery Advertiser has an article this morning recognizing Blake and Bettie Field for their work in revitalizing neighborhoods in Camden and Montgomery. Blake and Bettie have rehabbed eight homes in Camden and one in Montgomery, helping both communities preserve their history.

Too often, little is done to preserve deteriorating buildings. As a result, once vibrant neighborhoods often become slums or low-rent districts. Many times it only takes one person, or in the case two, to go into a neighborhood and start to turn it around. One house is rehabbed, then another and another. Before you know it, the entire neighborhood has a new lease on life.

Older homes in older neighborhoods are wonderful investments, especially if you can get in on the ground floor of a neighborhood revitalization. If investing in older homes is something you are interested in, give us a call. We are glad to assist you in investing wisely.

 

Downtown Master Plan Unveiled

by The Hat Team

Victor Dover of Dover, Kohl and Partners, a florida-based development firm, presented the final plan for downtown development Thursday at Troy University Montgomery's Davis Theatre for the Performing Arts. The plan, which is due to be approved by city council on March 6, incorporates the following principles:

  • Preserving and restoring historic buildings;

 

 

  • Improving the environment for private investment and development;

 

 

  • Expanding downtown green and civic spaces;

 

 

  • Incorporating land uses with building types and housing options, and

 

 

  • Promoting a better balance of transportation options and designs.

Copies of Dover Kohl and Partners' plan for downtown Montgomery are available through the city's Planning and Development office.

2007 Alabama Vacation Guide

by The Hat Team
The 2007 Alabama Vacation Guide is now available from the Alabama Bureau of Tourism and Travel at (800) ALABAMA (252-2262) or www.800Alabama.com. You can cure the winter blahs by starting to plan this summer's vacation. The 160 page guide is free of charge.

Alabama Economy Catching Up

by The Hat Team

A new report released by the Federal Reserve Bank of Atlanta shows Alabama's economy in 2006 brought the state's per capita income to 86 percent of the national average...the highest reading on record.

Other good news for 2006 was a 3.6 percent unemployment rate which is the lowest in thirty years, an expanded employment base of 1.5 percent and a bright outlook for 2007 with Kia Motors building a new plant in western Georgia.

A strong economy correlates to a strong real estate market, making 2007 a great time to buy or sell a home in Montgomery! Contact us for all your Montgomery real estate needs in 2007.

 

Displaying blog entries 1601-1610 of 1618

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