Displaying blog entries 1821-1830 of 1998
Sandra Nickel of The Hat Team presents:
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This month's edition covers Montgomery real estate market activity and then we'll uncover three unique factors that are benefiting buyers and sellers. Features special guest Terri Murphy of US Learning. Program length: approximately 8 minutes |
If you're thinking of selling your Montgomery home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.
1. Consider loan modification first. If you are thinking of selling your Montgomery home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as:
When a loan modification still isn't enough to relieve your financial problems, a short sale could be your best option if
2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional* and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won't try to take advantage of your situation or pressure you to do something that isn't in your best interest.
A qualified real estate professional can:
3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale "package" that accompanies any offer typically must include
4. Prepare buyers for a lengthy waiting period. Even if you're well organized and have all the documents in place, be prepared for a long process. Waiting for your lender's review of the short-sale package can take several weeks to months. Some experts say:
When the bank does respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. (Your real estate attorney and real estate professional, with your authorization, can work your lender's loss mitigation department on your behalf to prepare the proper documentation and speed the process along.)
5. Don't expect a short sale to solve your financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind:
If you ar someone you know is in financial distress, selling your Montgomery home through a short sale may be the right move for you. Give us a call for a private consultation.
Note: This article provides general information only. Information is not provided as advice for a specific matter. Laws vary from state to state. For advice on a specific matter, consult your attorney or CPA.
Reprinted from Realtor Magazine with permission of National Associatin of Realtors.
Montgomery AL real estate sales statistics for May show pending sales increased by 2% in 2009 compared to May 2008. The average sales price decreased by 25% to $112,384 while sold listings were down 13% from 2008. Market times showed a increase of 1 day or 1% from 2008.
|
Midtown |
Pending |
Sold |
Average |
Average |
|
May 2009 |
42 |
33 |
87 |
$112,384 |
|
May 2008 |
41 |
38 |
86 |
$150,966 |
The decline in Midtown's average sales price reflects the continued absorption of many inexpensive foreclosure properties. Investors in our market have decided now is the time to buy, and they are grabbing up the low-priced houses and rehabbing them for resale.
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.
Many Montgomery home sellers look at the first offer on their home as just that, the First Offer with many more to come. You know what they say, ‘A bird in the hand is worth two in the bush.’ And in the current Buyers Market, offers are few and far between. Montgomery home sellers will want to consider the first offer very seriously. Here are reasons why:
An offer indicates serious interest in your home -- don't underestimate that but don't take it for granted, either.
Thinking of selling your Montgomery home? We'll be happy to work with you to fine-tune your home's listing price so it fits our local market. We can also advise you on what would make your home more saleable at low cost to you. Most importantly, we can put our expertise to work for you when it comes time to negotiate with potential buyers. Learn more about us by visiting HatTeam.com.
Many consumers today are understandably worried about their nest egg. For many of them, however, their "n
est" is the best investment they can make.
Not only does owning a Montgomery home help people build long-term wealth, but also it provides shelter and security for their families and fosters involvement in community life. In essence, homeownership is the cornerstone of a healthy community.
U.S. Census Bureau data shows that Montgomery homeowners move less frequently than renters. This stability is important in creating strong foundations for both families and communities.
A recent NAR research study shows that Montgomery homeowners are more likely to vote, volunteer time for civic events or participate in local crime prevention programs because they're invested in what happens in their neighborhoods.
If you are considering buying a Montgomery home to build your nest, visit HatTeam.com or give me a call. I'm glad to guide you through the process.
Search all Montgomery homes for sale.
Montgomery Real Estate For Sale
346 Conley Circle, Montgomery Al 36110
MLS 264945
Updated and clean as a pin! If you are a first time home buyer and are looking to take advantage of the 10% tax credit but are tired of seeing houses that need work or are tired and dated, look no more! This home located in the quiet neighborhood of Park Manor is move in ready with new paint, new carpet, new blinds, updated kitchen with new floor and new appliances, and an updated bathroom. This one even has a breakfast bar overlooking a nice sized den/bonus room off the kitchen. With a HUGE fenced back yard, the possibilities are endless. Jump on this one before someone else does!
Learn more about 346 Conley Circle and other Montgomery real estate at HatTeam.com.
Montgomery Real Estate:
2160 Woodley Drive, Montgomery AL 36111
MLS#264762
Want a country estate living right in the middle of Montgomery? This is the place! Situated on 1.2 lush private acres, this "estate" has it all. All your friends will envy invitations to dinner and back yard functions, hoping to relax on the huge 1,750 square foot deck with mammoth tree growing right out of the center, or lounge by the shady private inground pool. Kids? There is a "football field" sized lawn at the rear of the pool that has endless sports/play possibilities. Back to the main house, your gourmet will enjoy the awesome custom designed kitchen with professional 6 burner gas range, tons of granite counter space, and plenty of storage overlooking the oversized family room with volume ceilings and big fireplace. With 3 bedrooms and 3 full baths, you have your choice of an upstairs OR downstairs master bedroom...AND there is a separate full guest apartment out back for visiting guests or relatives (or use it as a fun pool-house, home office, and home gym like the current owners do!)
Call today to see these and all the other features of this truly unique Midtown Montgomery real estate! Learn more about 2160 Woodley Drive and other Montgomery real estate for sale by visiting HatTeam.com.
Montgomery AL foreclosure homes continued to rise during the first quarter of 2009 with 211 new Montgomery AL foreclosure filings in April compared to 201 filings in March, according to RealtyTrac.com.
Montgomery AL Foreclosure Activity and Home Price Index
Montgomery AL 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 AL Foreclosure Geographical Comparison
The Montgomery AL foreclosure rate is .06% lower than the National rate, but .10% higher than the state of Alabama's rate.
Montgomery AL Foreclosure Rate Month-By-Month
Montgomery AL pre-foreclosure activity for March and April is an indication that the foreclosure crisis in Montgomery AL is not over with many more Montgomery families in distress situations.
Are you or someone you know behind on your mortgage payments and facing a Montgomery AL foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. Give us a call for a private consultation.
Get the value of your Montgomey AL home.
Montgomery Homes For Sale:
1754 Wentworth Drive, Montgomery AL 36106
MLS# 264754
If you'd rather take a beating than have to move often, you'll love the flexible floorplan of this custom-built home. Two extra bedrooms downstairs allow you to have your children on the first floor with you while they're little. And when they're older, give them the upstairs with its two additional bedrooms plus a computer area. An inground pool with diving board and slide provides a focal point for family fun and the surrounding decorative iron fence provides peace of mind. You can see from the street that this is a lovely, traditional Southern home. And the interior won't disappoint because it offers you a big family room plus a living room that will stay extra-nice for special occasions. What's more, you'll never run out of storage here. Everywhere you turn there's a closet, and a bevy of real wood cabinets fill both the spacious kitchen and the laundry room. And perhaps best of all, moving in will be easy as pie because of all the brand-new upgrades including all new paint, carpet, vinyl and pool liner. And the seller has already done most repairs indicated on the home inspection you may review by clicking on the photo. So check it out and then make it your own!
Learn more aobut 1754 Wentworth Drive and other Montgomery homes for sale by visiting HatTeam.com.
Search all Montgomery homes for sale.
Montgomery Homes For Sale:
3038 LeBron Road, Montgomery AL 36106
MLS# 264452
Don't miss this charming Cloverdale cottage that is oozing with architectural details. Tudor-esque arched front door opens to large living room with stone fireplace, window seat for reading or morning coffee, and unique windows that allow for privacy while letting in lots of light. Banquet sized dining room has antique French doors leading to a small side porch. If you like to cook and entertain, you will enjoy the updated kitchen that is open to the den/family room. Two well proportioned bedrooms plus a sunroom/bonus room that could swing as a third bedroom. Make sure you check out the patio area off the den and the private lush back yard.
Learn more aobut 3038 LeBron Road and other Montgomery homes for sale by visiting HatTeam.com.
Search all Montgomery homes for sale.
Displaying blog entries 1821-1830 of 1998
