Real Estate Information Archive


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Montgomery Real Estate For Sale: 2216 Country Club Dr

by The Hat Team

Montgomery Real Estate For Sale:

2216 Country Club Drive, Montgomery AL 36106

MLS# 282804

This charming 1940's cottage backs up to the Montgomery Country Club Golf course. With views from most rooms in the house, you will never get tired of your big, pretty "back yard". And, with a large heated and cooled building out back, uses are endless (workshop, studio, crafts, or just great storage.) The back yard is perfect for entertaining or just relaxing and enjoying the views. Don't pass up this rare opportunity to live on highly desired Country Club Drive!

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How To Choose An Agent for Your Montgomery AL Real Estate

by The Hat Team

One of the most complex and significant events in people’s lives is the purchase or sale of their real estate--and most people turn to an agent to assist them in these transactions. Before you select a professional real estate agentmontgomery al real estate, however, you should determine if he/she is qualified to handle your Montgomery AL real estate business, what he actually does, and how he is paid.

REQUIREMENTS: All real estate brokers and sales agents must be licensed by their state. Although the rules and regulations of individual states vary, most require educational courses, a written examination, and license renewal every 1 or 2 years. Usually between 30 and 90 hours of formal coursework are required in topics such as real estate principles, contracts, and ethics to ensure that the agent has a thorough knowledge of the fundamentals and legal aspects of the field. Many states also have a continuing education requirement. In addition, many agents are members of the National Association of Realtors, an organization designed to provide an exchange of ideas to improve the industry as needed in order to protect the consumer and provide quality service.

SERVICES PROVIDED: A good agent wears many hats and is knowledgeable about many aspects of real estate. An agent handling your Montgomery AL real estate business should:

  • be familiar with your target area
  • represent a buyer or seller in the purchase or sale of real estate
  • search for suitable buyers and/or properties
  • assist in procuring financing for your Montgomery AL real estate
  • examine comparable sales to determine fair market value
  • ensure that all terms of the contract are met

QUALITIES TO LOOK FOR: You will want someone who:

  • is organized
  • is knowledgeable about the business
  • is confident in his abilities
  • is skilled in negotiations, contracts, and financing
  • acts in your best interest
  • is ethical and trustworthy
  • maintains confidentiality
  • is open in disclosing pertinent facts

HOW THE AGENT IS PAID: Since all agents work with a broker, they are paid a portion of the sales commission (commonly paid by the seller). Percentage divisions of the commission vary, but often office costs, such as advertising, are deducted from the agreed upon amount. Neither the buyer nor the seller pays the agent directly.

It is important that you choose a real estate agent wisely and that you establish and maintain a good working relationship with him/her. Carefully check credentials, ask about services provided, and determine his familiarity and success in the area before signing any agreement.

Montgomery Real Estate For Sale: 2258 Narrow Lane Road Montgomery, AL 36106

MLS #282583

Apply a little lipstick and rouge and this rambling ranch will be your next family home. Located on a corner lot with sweeping views of the MCC golf course, park as many as 5 cars at once without any inconvenience. The formal living and dining rooms are spacious, but wait until you see the kitchen! Cabinets galore and enough countertop space for multiple cooks at once! Cozy wood paneled den/study with fireplace opens to a grand 14x22 sunroom with vaulted ceiling. All three of the large bedrooms have direct access into a bathroom, and two of the bedrooms feature built-in storage systems. Speaking of storage, this one has lots of it...from multiple closets, to built-in shelving and cabinetry, to attic space. Don't miss the "hobby" room off the laundry room that could have many uses. Enjoy relaxing in the courtyard-style backyard on the antique brick terrace. Priced well under comparable properties, you won't want to miss this deal. "Property to be sold as is."

Learn more about 2258 Narrow Lane Road and other Montgomery Real Estate by visiting 

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Montgomery Real Estate Tax Deductions You Don't Want to Miss

by The Hat Team

Tax season is upon us and now is the time to start identifying house-related tax deductions and gathering the necessary documentation for them. The following information is current as of now, but I urge you to check with your accountant, visit the IRS website, or call the IRS assistance line at 800-829-1040 for verification and/or specifics.


  • tax timeMORTGAGE INTEREST: As you know, much of your mortgage payment goes toward paying off interest, especially in the early years. All this paid interest, on debts of up to $1 million on a joint return, is tax deductible. The amount you have paid is reported to you on a 1098 form sent by your lender and should be reported by you on line 10 of a Schedule A form (itemized deductions).
  • HOME EQUITY LOAN INTEREST: Interest paid on home equity loans (second mortgages, equity credit lines, and some refinancing) is fully deductible up to $100,000--regardless of how you use the proceeds. If you use some or all of the proceeds for home improvements, that amount can be added to the $100,000. Be sure to carefully document all improvement costs. Note: The limits mentioned apply only as long as all debt secured by the residence does not exceed the fair market value of your Montgomery real estate.
  • POINTS: The points you paid to the lender at closing are deductible for the year in which you paid them. This amount is also reported to you on the lender’s 1098 form. See publication # 936 from the IRS for more specific information, especially about points paid for refinancing.
  • PROPERTY TAXES: Montgomery real estate property taxes are fully deductible.
  • PRIVATE MORTGAGE INSURANCE: If your mortgage was taken out between 2007 and 2010 and your joint income is below $100,000, you can deduct any premiums you paid. Note: This is the last year that you can take this deduction.
  • HOME OFFICE: If you use a portion of your home exclusively for business purposes, there are certain costs you can deduct. Such expenses may include a percentage of your utilities, repairs, qualified insurance premiums, and even property taxes. The IRS has specific requirements for these deductions. Consult IRS publication #509.
  • SELLING YOUR HOME: In addition to being able to pocket as much as $500,000 tax free in profit if you file jointly and have lived in the piece of Montgomery real estate for two of the past five years, you can also deduct from your taxable capital gain many costs which you incurred while selling the property. Such costs usually include realtor commissions, legal and inspection fees, and title insurance. In addition, cosmetic repairs and improvements you made to the home within 90 days of the sale are also deductible.

TAX CREDITS: These are even more beneficial than deductions and fall into two categories for the 2010 tax year.

        1. HOMEBUYER TAX CREDIT: Buyers who purchased a house before May 2010 and qualified for a Homebuyer Tax Credit may claim that credit by mailing in (you cannot file electronically) your return with IRS Form 5405. Members of the military, foreign service, and intelligence communities have until April 30, 2011, to purchase a home and be eligible for this credit.

        2. HOME ENERGY TAX CREDIT: If you installed qualified energy-efficient systems, windows, and/or appliances in your home before December 31, 2010, you may be eligible for a tax credit of up to $1500. Again, you may not file electronically, and you must complete and attach IRS Form 5695 to your return.

FORGIVEN DEBT: Mortgage debt to buy a principal residence that is forgiven (as in a short sale, foreclosure, or debt restructuring) is no longer taxable in many cases. Restrictions apply for investors, equity lines, refinancing, etc. See IRS Publication 4681 for detailed information and use IRS Form 982 for filing.

Tax Credit Repayment Begins For 2008 Montgomery Home Buyers

by The Hat Team

If you are among those who received a tax credit of up to $7500 when you purchased your Montgomery home in 2008, you are now required to begin repaying that credit with this year’s tax return. The entire amount is payable in 15 equal annual installments.

The IRS is sending letters of explanation of the repayment procedure to all taxpayers who claimed the credit in 2008. Generally speaking, all first-time 2008 home buyers will need to pay an additional $500 on their taxes from 2010 to 2025, provided the house is not sold before then and remains the owner’s primary residence.taxes

If you sell your Montgomery home before 2025, any profits will first go to paying back the tax credit in full. If you sell at a loss, the difference will be forgiven, although, as is typical with most forgiveness agreements, you must record that amount as income and pay taxes on it.

If, within 36 months after buying your home, the property is no longer used as your primary residence due to a divorce in which your spouse retains the house; conversion to rental property, a business, or a vacation home; or foreclosure, the full amount of the unpaid credit must be paid in full with the tax return for the year in which the change occurred. You will need to file IRS form 5405 with your return in this case.

Because individual situations vary, it is important for 2008 Montgomery home buyers to consult a qualified tax professional to make sure they are fulfilling all obligations of their purchase and subsequent credit.

Montgomery Real Estate For Sale: 2862 N Colonial Drive Montgomery, AL 36111


Prime mid-century modern ready to move into! This custom built corner lot home was featured in the 1955 "Parade of Homes" and has been lovingly maintained by the same family for over 50 years. Sunken Living room has fun angles, unique stone and brickwork, and is big enough for entertaining on a large scale. The eat-in kitchen has custom banquette great for meals, games, homework, and family gathering, and is pristine original 1955! Den/family room features beautiful cypress walls and opens onto the courtyard style patio with built-in BBQ pit. Bathrooms are immaculate, roof is new, and there are wonderful oak hardwood floors under carpet throughout the house. Elegant custom draperies remain, as well as period sectional sofa and coffee table in the living room.

Learn more about 2862 N Colonial Drive and other Montgomery Real Estate by visiting

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To Sell Or Not to Sell Your Montgomery AL Home?

by The Hat Team

Shall I sell now or wait to see what happens in the real estate market? That is a decision facing numerous homeowners in this period of economic upheaval and uncertainty. For those who are forced to leave their Montgomery AL home because of a job transfer, a need for a smaller home, and/or a desire for a smaller mortgage payment, the question becomes one of whether to rent or sell their current property. Oh, for a crystal ball…       

There are, however, some valid reasons to sell at the present time. Many in the real estate or financial fields believe that the timing for home sales may not be as opportune for a long period in the future as it is now, and they base their “sell now” advice on the following reasons:

  • question markWould-be buyers in the fourth quarter of the year are historically serious buyers who are very apt to buy during this season. Thus, the seller may have fewer ‘lookers’ but more motivated purchasers.
  • Interest rates right now are invitingly low and provide a real incentive for the serious buyer of a Montgomery AL home. These fallen rates can also be an advantage to the seller who wants to buy another home.
  • If you do want to purchase another home, especially if you want to “trade up”, this is an optimum time to do so. The prices of more expensive houses have also dropped, sometimes considerably, and bargains are to be had in that market. Remember, too, that because there is a smaller pool of buyers for “high end” properties, those sellers may be more than willing to negotiate and lower their asking price.
  • Renting out your Montgomery AL home rather than selling it is not a financially secure consideration. As the economy worsens, renters will be looking to pay lower rents, so your rental income may very well be less than your monthly mortgage payments and expenses, a situation you certainly want to avoid.
  • The on-going foreclosure fiasco and the ensuing moratoriums positively support the idea of selling now. Many homes currently in the process of foreclosure are being removed from the market, and serious buyers are rightfully cautious about purchasing any short sale or foreclosed property. Therefore, your home, the one with a clear title and no irregularities, will be part of a new, “safe” inventory, one that will definitely attract buyers.
  • Once the moratoriums are removed, many “experts” expect that there will be a glut of distressed properties on the market, a situation that will most likely drive prices down even lower and greatly swell the inventory with which you will have to compete. Add to that the fact that the end of the first quarter traditionally brings a large increase of listings, and your Montgomery AL home could be easily overlooked.

It would appear, then, that there is no time like the present to sell your home. Opportunity is knocking--don’t let it pass you by!

Montgomery Real Estate For Sale: 2801 Colonial Drive Montgomery, AL 36111


Fantastic mid-century modern could be right out of the pages of Atomic Ranch...and under $90,000! Two wood burning fireplaces for winter and a beautiful patio for summer that can be viewed through a ribbon of windows from living room. Vaulted ceilings throughout add interest and drama. Hardwood floors, many built-ins, birch cabinetry and copper fronted kitchen drawers are just a few of the period details that benefit this structure. The laundry is a separate room between the bedrooms and the kitchen, and provides good storage. Built in half-wall of bookcases provide space to display books or treasures, and separate the kitchen and living room. With den/family rooms at each end of house plus living/dining area in the center, you have three different living spaces! A circular drive, large fenced yard, and outside storage complete this original 1955 home that retains most of its character. Some will say it's "dated", and the new savvy buyer will appreciate it's "un-remuddled" original condition.

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