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Montgomery AL Foreclosure Trends for Sept 2014

Friday, October 31, 2014
by The Hat Team

In September, the number of properties that received a foreclosure filing in Montgomery, AL was 9% lower than the previous month and 8% lower 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 94.3% of foreclosure activity in September 2014 and Bank-owned properties accounted for 5.728.6%.

montgomery al foreclosure

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties decreased 81.8% compared to the previous month and 88.2% from the previous year in September. The number of Auctions increased 20.0% compared to the previous month and 57.1% from the previous year.

montgomery al foreclosure

Montgomery AL Foreclosure Geographical Comparison

Montgomery AL foreclosure activity was 0.01% lower than national statistics, 0.02% higher than Alabama numbers and the same as Montgomery County statistics in September 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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Enjoy Your Improvements and Profit by Them

Thursday, October 30, 2014
by The Hat Team

Homeowners can raise the basis or cost in their home by money spent on capital improvements. The benefit is that it will lower their gain and may save them taxes when they sell their home.

capital improvementsImprovements must add value to your home, prolong its useful life or adapt it to new uses. Repairs are routine in nature to maintain the value and keep the property in an ordinary, operating condition.

Additions of decks, pools, fences and landscaping add value to a home as well as new floor covering, counter-tops and other updates. Replacing a roof, appliances or heating and cooling systems would be considered to extend the useful life of the home. Completing an unfinished basement or converting a garage to living space are common examples of adapting a portion of the home to a new use.

Other items that can raise the basis in your home are special assessments for local improvements like sidewalks or curbs and money spent to restore damage from casualty losses not covered by insurance.

Here’s a simple idea that could save you money years from now.

Every time you spend money on your home other than the house payment and the utilities, put the receipt or canceled check in an envelope labeled “Home Improvements.” Regardless of whether you know if the money would be classified as maintenance or improvements, the receipt or cancelled check goes in the envelope.

Years from now, when you’ve sold your home and you need to report the gain on the property, you or your accountant can go through the envelope and determine which of the expenditures will be adjustments to your basis.

Some people disregard this idea because of the generous exclusion allowed on principal residences. At the unknown point in the future when you sell your home, circumstances may have changed and the proof of these expenditures will be valuable. The tax laws could lower the exclusion amount or eliminate it altogether. Your marital status may change because of death or divorce. The market value of your home may skyrocket.

Since the future is unknown, it is better to keep track of the improvements as they are made and how much is spent on them. Download an Improvement Register and examples or read more in Publication 523 on Increases to Basis.

Information courtesy of Montgomery AL Realtor Sandra Nickel, Sandra Nickel Hat Team.

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Montgomery AL Home for Sale: 8843 Stoneridge Place

Friday, October 24, 2014
by The Hat Team

Montgomery AL Home for Sale:

8843 Stoneridge Place, Montgomery AL 36064
MLS# 312986

Carefree Living!

8843 stoneridge pl
This one owner home has been immaculately maintained and has lots of extras! While many neighboring properties are brick in the front and siding on sides and rear, this one is ALL BRICK. Plus there is a comfy LARGE screened porch which acts as another living space most of the year. Originally a three bedroom floor plan, this owner opted to have the third bedroom converted to a den/TV room (no closet.) Deer Creek affords a lifestyle that includes friendly neighbors, walking trails, tennis, swimming, biking, and is pet friendly! Owners have sense of safety here, and an attached garage affords additional security and convenience. If you are looking for a carefree home to start out in, or looking for a wonderful space to downsize, yet not give up precious amenities, you might want to view this home. BTW, GREAT school zones and roof is only 5 years old!

Marketed by Montgomery Realtor Sandra Nickel, Sandra Nickel Hat Team.

 

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Midtown Montgomery Real Estate Market Report for September 2014

Friday, October 24, 2014
by The Hat Team

Forget a sea view mansion. CnnMoney.com reports in Hong Kong, parking spaces are some of the hottest properties on the market.

Hong Kong is a densely populated city and eager have pushed prices for parking spaces to record highs in recent months with prime spaces now selling for far more than the luxury cars that park in them.

In May, a single space in a residential neighborhood on Hong Kong Island went for 4.24 million Hong Kong dollars ($547,000), making it the most expensive parking space ever sold in the territory.

Knowing what mere parking spaces are selling for in Hong Kong certainly puts our own real estate market into perspective.

Take a look at September’s real estate sales statistics.

September 2014 Midtown Montgomery Real Estate Market Update

Midtown Montgomery real estate sales statistics for September 2014, show the number of homes sold increased by 19% when compared to September 2013. The average sales price decreased by 30% to $125,516 for the month. The median sales prices decreased by 35% to $100,350, and market times decreased by 54 days.  The highest selling price decreased by 26%, and the lowest selling home price decreased by 68% compared to September 2013.

Midtown Montgomery  September 2014  September 2013
Homes Sold 25 31
Average Selling Price $125,516 $180,690
Median Selling Price $100,350 $153,500
Days On The Market 124 178
Highest Selling Price $400,000 $545,000
Lowest Selling Price $6,500 $20,000

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. Courtesy of Montgomery Realtor Sandra Nickel, Sandra Nickel Hat Team.

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6 Steps For Avoiding Identity Theft When Moving

Friday, October 17, 2014
by The Hat Team

With all the news concerning retailers databases being compromised and resulting in consumer identity theft, you need to be acutely aware of the increase of identity theft during a move and take precautions to prevent your becoming a victim of enterprising criminals. Moving often makes it easier for identity theft to occur: we leave identity theftinformation behind that others can use---mail that is not rerouted to our new address, important papers that aren't shredded but left in the trash, or through hiring rogue movers. The following steps are essential to ensure your protection:

  1. If you are using a moving company, be sure that you know it is a trusted and reliable firm.  Sometimes simply getting recommendations from friends, family members, and real estate agents is not enough.
     
  2. Make a change of address checklist.  Before you move, make sure you take the time to list all companies, institutions, and subscriptions that you receive through the postal system. Click here for a list of those you should include.  Personally notify all financial institutions of your plans to leave your home.  One of the easiest ways that someone can obtain your personal identity is through mail theft.
     
  3. Submit a change of address form to the U.S. Post Office.  Once your form has been filed, double-check the confirmation from the Postal Service to make sure that they list your new address correctly. Your mail should start being delivered to your new residence within seven to 10 business days after you submit a change-of-address filing.  Ask a current neighbor to take in any mail that comes to your old address after you move.
     
  4. Although moving is a good time to discard unwanted personal files, records, and documents, don’t just throw them away; shred them!
     
  5. Make sure your technological “toys”---computers, cell phones, tablets, and the like—are secured by passwords and packed in unmarked boxes.  Better yet, take the computers, hard drives, and other external storage devices with you when you travel to your new home.
     
  6. Stay in your current home as much as you can while movers are there.

All this before you actually move into your new home.  After?  See part 2 next week.

Information courtesy of Montgomery Realtor Sandra Nickel, Sandra Nickel Hat Team.

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Montgomery AL Home for Sale: 351 Winthrop Court

Monday, October 13, 2014
by The Hat Team

Montgomery AL Home for Sale:

351 Winthrop Court, Montgomery AL 36104
MLS# 312768

Lovely & Updated Garden District Home!


You have to come check out the unique floor plan in this wonderfully updated and added on to Garden District bungalow! Step from the fabulous front porch inside to find a formal dining room with a lovely antique craftsman fireplace and mantle, large foyer leading to the family room/den area, a spacious bright kitchen with a great island/breakfast bar and plenty of cabinets. If you enjoy the outdoors, you will love the back deck and beautifully landscaped back yard.

Marketed by Montgomery Realtor Sandra Nickel, Sandra Nickel Hat Team Realtors.

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Do You Have Enough Homeowners Insurance?

Friday, October 10, 2014
by The Hat Team

The news lately has been filled with reports of tornadoes, hurricanes, floods, and fires, each of which has resulted in untold loss of lives, homes, and possessions.  As we watch with horror the impact these disasters have on those homeowners insuranceaffected, it is only natural that we ask ourselves,” Would I be able to sustain such losses?  Would my homeowners insurance policy cover the costs of rebuilding my home?

The National Association of Insurance Commissioners (NAIC)) recommends that you use your annual renewal notice or any improvements to your home as a reminder to touch base with your agent or insurer to recheck how much insurance you really need.  Do you have sufficient coverage for rebuilding and replacement? Amy Bach, executive director of United Policyholders, a consumer advocacy group, urges homeowners not to blindly trust that their home insurer has all the bases covered.

With fluctuations in the real estate market, coverage equal to the current replacement cost (excluding land), is advisable.  The first step in getting adequate coverage is to establish your policy’s dwelling limit. Your target number is the full-replacement cost of your home and its possessions. The dwelling limit bears no relation to your property’s market value, its appraised value, or its assessed tax value. And don’t mistake the cost of new construction for the cost to rebuild, which is more expensive because of factors such as debris removal and higher demand for materials and labor after a catastrophe,

(You can get a pretty good idea of what it would cost to rebuild your home by using an online calculator, available at sites such as HMFacts.com ($7) and AccuCoverage.com ($8).

It’s a good idea to purchase guaranteed replacement coverage, meaning the insurer will pay whatever it costs to rebuild your home with materials of like kind and quality, without deducting for wear and tear. Avoid actual cash value coverage, which pays only the depreciated value of your home.

Check also on your need for flood insurance, even if you don’t live near a body of water, since policies vary in their coverage of many types of water damage.

And lastly, it goes without saying that you need to update the inventory of your possessions at least annually since it is not only a record of the contents of your house and their value, but also a good indicator of whether you have enough coverage.

Information courtesy of Montgomery AL Realtor Sandra Nickel, Sandra Nickel Hat Team.

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Montgomery AL Foreclosure Trends for August 2014

Friday, October 3, 2014
by The Hat Team

In August, the number of properties that received a foreclosure filing in Montgomery, AL was 43% higher than the previous month and 22% lower 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 71.4% of foreclosure activity in August 2014 and Bank-owned properties accounted for 28.6%.

montgomery al foreclosure

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties decreased 4.3% compared to the previous month and 42.1% from the previous year in August. The number of Auctions increased 77.4% compared to the previous month and dropped 9.8% from the previous year.

montgomery al foreclosure

Montgomery AL Foreclosure Geographical Comparison

Montgomery AL foreclosure activity was 0.01% lower than national statistics, 0.03% higher than Alabama numbers and the same as Montgomery County statistics in August 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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Crafting an Acceptable Offer

Wednesday, October 1, 2014
by The Hat Team

An agent was presenting a contract to a single, senior woman who was moving into a retirement home.  It was a full price offer with reasonable terms and timelines but the seller wouldn’t accept it.  When the agent probed deeper, she discovered that the seller was concerned with her dining room table.

tableIt had been the first piece of nice furniture that she and her husband had purchased and they had literally spent a lifetime celebrating and making decisions at that table.  It troubled the owner to think that the table would go to strangers who might not appreciate it as much as her family had.

The agent told the elderly seller that she knew of a church nearby that had a community room filled with lovely tables like hers.  If she liked the idea, the agent would call the church to see if they’d like to have it.  Once a new home for the table was found, the sale of the home went smoothly.

Lower inventory and increased demand in certain price ranges have increased the frequency of multiple offers on the same home.  Sellers are frequently faced with a decision dilemma on which offer to accept and the price may not be the most important factor.

Sellers generally need the equity from the sale of their home to purchase another one but they also don’t want to have to temporarily move if they’re not able to get into the home they’re purchasing.  Flexible buyers have discovered the value in coordinating the sale and possession of the homes.

Sellers want to know when they make a decision on an offer, that the buyers will be able to perform as the contract is written.  The more contingencies that can be eliminated or minimized, the more comfortable a seller will feel about the certainty that it will close according to schedule.

The buyer should be pre-approved with all verifications and credit reports having been done.  Simply having a loan officer’s opinion is definitely not the same thing as a pre-approval.

There is a unique dynamic to every transaction because the parties are individuals with infinite priorities and values.  The art of the deal takes place when these unique variables are considered to define a mutually acceptable offer involving price, terms and conditions. The role and experience of the agents contribute to the successful outcome.

Information courtesy of Sandra Nickel, Sandra Nickel Hat Team Realtors.

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