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Montgomery Real Estate Sales Statistics - March 2009

Thursday, April 30, 2009
by The Hat Team

The Federal Housing Administration is a primary source of mortgage financing for millions of America’s families and plays a key role in helping bring stability to the housing market. This is the message that the National Association of Realtors® delivered to the Senate Appropriations Subcommittee today.

“Without FHA financing, families would be unable to purchase homes and communities would suffer from continued foreclosures and blight,” said Lennox Scott, a member of NAR’s Real Estate Advisory Board and CEO of John L. Scott Real Estate in Bellevue, Washington. In his testimony, Scott shared NAR’s belief in the importance of FHA and concern for the safety and soundness of its programs due to its dramatic growth over a short period of time.

“We believe that FHA has done a good job stepping up to today’s market challenges. However, along with the dramatic growth in market share comes greater responsibility and the need for increased infrastructure and staff,” Scott said. Over the past 18 months, FHA has handled an increase in volume four times greater than 2007 levels, increasing its market share to over 30 percent.

Of the 325 homes sold in the Montgomery MLS during March, 101 were FHA-financed.  And FHA was the loan of choice in 40% of the total non-cash sales.  With the Alabama Housing Finance Authority's First Step and Step-Up programs becoming increasingly popular, we anticipate that percentage will continue to grow.
 
Let’s take a look at the March sales statistics to see how the Montgomery AL real estate market looks:

Montgomery AL real estate sales statistics for March show pending sales increase by 14% in 2009 compared to March 2008, the average sales price decreased by 9% to $129,037 while sold listings were down 43% from 2008.  Market times showed an increase of 19 days or 20% from 2008.

 

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

 Mar 2009

57

30

95

$129,037

Mar 2008

49

53

76

$141,542

In reviewing the stats above, it is important to remember that foreclosures in the less affluent areas of Midtown have contributed significantly to the decilne in average selling price.  When the 7 foreclosures sold in March are removed from the totals, the actual average sale price increases to $135,312. 

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.

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Montgomery Ranks As Great Place to Retire

Thursday, April 23, 2009
by The Hat Team
U.S. News and World Report has ranked Montgomery #5 in its top 10 affordable places to retire The rankings are bases on cost of living, housing affordability, taxes, access to arts, culture and sports, and health facilities. All top 10 cities have median home prices below $150,000.

montgomeryBinghamton NY claimed the #1 spot followed by Chattanooga TN, Cocoa FL, Eau Claire WS, Montgomery AL, Omaha NE, Pittsburgh PA, Rosewell NM, San Antonio TX, and South Bend IN.

Montgomery has been recognized for the following:

Cultural Attractions
This state capital is home to the Alabama Shakespeare Festival, the fifth largest Shakespeare festival in the world.
Economy
The city's role as a regional trade center is firmly established, serving as a wholesaling and distribution gateway to the 22-county central Alabama area, as well as to the southeastern United States.

Geography
Montgomery has a generally central location, not only within Alabama but within the United States; approximately one third of the nation's population lives within a 600-mile radius.

Historical
During the Civil War, Montgomery served as the first Confederate government office and still has the first White House of the Confederacy. Years later in 1955, Martin Luther King, Jr., joined Rosa Parks in the Montgomery Bus Boycott.

Recreation
The Montgomery Biscuits, a minor-league affiliate of the Tampay Bay Devil Rays, provides a favorite outing for local baseball enthusiasts. 

Thinking of retiring? Learn about Montgomery real estate at HatTeam.com.

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Montgomery Real Estate For Sale: 2562 Carter Hill Road

Tuesday, April 21, 2009
by The Hat Team

montgomery real estateMontgomery Real Estate For Sale:

 
Need room to spread out? Love privacy? Check out this lovely brick home conveniently located on Carter Hill Road. Formal living and dining rooms afford great entertaining areas, and the sunny breakfast room and updated kitchen are perfect for smaller family gatherings. The large den/family room boasts a fireplace, built-ins, brick floors, and great views of the secluded and private back yard. Spacious master downstairs with plenty of closet space, and two more ample bedrooms and a bath up for kids or guests. You'll be party central every weekend as you and your friends enjoy the pool and jacuzzi tub out back, with plenty of areas for lounging, and having fun!
Learn more about 2564 Carter HIll Road and other Montgomery real estate by visiting HatTeam.com.
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Montgomery Homes For Sale: 340 E Fairview Avenue

Monday, April 20, 2009
by The Hat Team
Montgomery Homes For Sale:
 
You'll get the best of both worlds in this sweet South Hull cottage. If you love the charm and character of older homes and want something that has been updated and move in ready, this home is for you. Spacious open rooms, beautiful hardwood floors, charming built-in china cabinets, and a cool, retro double-drainboard sink are just some of the features this home offers. Enjoy mornings in the sunroom and afternoons in the big back yard! Corner lot affords both space and privacy.

Learn more about 340 E Fairview Avenue and other Montgomery homes for sale by visiting HatTeam.com.
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Why Its A Good Time For Montgomery Home Buyers To Buy In 2009

Thursday, April 16, 2009
by The Hat Team
One man’s loss is another man’s gain and right now buyer’s have everything to gain. It was only a few short years ago that sellers controlled the market and were calling the shots. In order to buy a home, buyers were paying over the asking price, foregoing home inspections and paying all their own closing costs. Montgomery home buyers were jumping through any and all hoops.
 
Now the market has shifted. The strong sellers’ market is a thing of the past and it is the sellers who are jumping through hoops. Buyers are calling the shots with offers that include home inspections; requests that closing costs, homeowner association fees and inspection fees be paid by the seller; decorating allowances; home improvement; and prices far below the asking price.
 
So why are Montgomery home buyers hesitating? Fear of a tanking economy, falling home prices and job instability are concerns for many potential home buyers. But if you are financially stable and plan to stay in a home for at least five years, there are 5 top reasons to buy a Montgomery home in 2009:
 
1. Homes are affordable.
According to the National Association of Realtors' housing affordability index, homes were more affordable in December than at any other point since the group started the index in 1970. The affordability index is a measure of the relationship between home prices, mortgage interest rates and family income.

A recent report from Moody's Economy.com predicted that house prices will stabilize by the end of this year. The Office of Federal Housing Enterprise Oversight's Web site has a house price calculator that can help. Visit the calculator.
 
2. There are lots of homes to choose from.
The slow down in the housing market has caused homes to stay on the market longer, creating a huge inventory. There was a 9.6-month supply of unsold existing homes in January given that month's sales pace, according to NAR.
 
A large inventory gives buyers more selection, driving down prices. As buyers start to jump back into the market, the inventory will shrink and cause prices to start going back up. The time to get the best deal is before most buyers buy.
 
3. Builders are offering perks.
New home builders are offering price reductions, free upgrades and other perks such as free appliances, homeowners’ fees being paid, lower interest rates decorating allowances. Once their inventory shrinks, these perks will go away.
 
4. Interest rates are at historical lows.
Lenders are not lending as freely, but if you have good credit and the needed down payment, mortgage interest rates are historically low and hovering around 5 percent.
 
5. There is an $8000 tax credit

If you are a first-time Montgomery home buyer, you will qualify for an $8000 federal tax credit if you buy before December 1, 2009. Unlike the previous tax credit offered in 2008, this does not have to be repaid. Extra money comes in handy when buying a home.
 
Trying to decide if buying a Montgomery home in 2009 is right for you. Visit HatTeam.com or give me a call. I’m glad to review your situation with you.

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Montgomery Homes For Sale: 1537 Melissa Lane

Wednesday, April 15, 2009
by The Hat Team
Montgomery Homes For Sale:
 
1537 Melissa Lane, Montgomery Al 36117 
MLS# 263487

 
Welcome to the "Peacemaker Plan!" Your squabbles over closet space and bathroom tidiness are OVER when you make this home your own! His 'n hers walk-in closets provide personal storage space, and truly separate vanity areas mean you won't have to look at your spouse's mess all over the countertop. 20-inch Italian tile floors throughout the living areas and hallways mean no more arguments about having the pets inside. And kids can spill their Kool-Aid without upsetting Mom and Dad. Formal and informal eating areas, a fantastic kitchen and even a covered back patio make this 4-bedroom ideal for your family. So check out the photos then put this one on your "must see" list today!
Learn more about 1537 Melissa Lane and other Montgomery real estate by visiting HatTeam.com.
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Montgomery Real Estate For Sale: 332 Winthrop Court

Monday, April 13, 2009
by The Hat Team
Montgomery Real Estate For Sale:
332 Winthrop Court, Montgomery, AL 36104 
MLS# 263462

 
This old lady needs a facelift, and maybe a "posterior-lift" as well. But she's got all her original charm and with your imagination and renovation will make you an incredible home! Look at the room dimensions and you'll see there's space for all your family. Look at the photos to see all the old-house detailing you love, a backyard that can become a peaceful oasis and the bare bones of a guest house for friends/relatives or rental should you choose. You'll love Winthrop Court because it's like a small town with close-knit families and lots of activity. And you'll appreciate the Garden District historic district with architectural controls that protect your investment and keep the wonderful old neighborhood looking old!
Learn more about 332 Winthrop Court and other Montgomery real estate by visiting HatTeam.com.

Search all Montgomery real estate and homes for sale.
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8 Low Cost Fixes To Getting Your Montgomery Home Sold

Saturday, April 11, 2009
by The Hat Team
If you have a home that only you can love, you will benefit for these 8 low cost fixes to getting your Montgomery home sold quickly. We don’t live in a house the way we sell a house. Buyers aren’t interested in seeing dirty socks lying around or dirty dishes in the sink. Below are a list inexpensive things, from Realtor Magazine, that you can do to make buyers fall in love with your Montgomery home.

1. Move it.
Simply rearranging the furniture can reenergize a room. Add and remove furniture, lamps, rugs, and accessories from other parts of the house to create a whole new look. Mirrors are particularly useful when it comes to updating a room. Try one out in different rooms to see where it fits best. Even just moving a mirror to a different wall can create a more welcoming feel.

 2. Plant it.
Houseplants are a generally undervalued design component that can add texture, warmth, and color to any room. Just drop plants in their store containers into decorative planters. Small plants can be moved easily and regrouped to change a room's look, while larger ones make a statement on their own. 

Group plants together of differing heights, fullness, and color for the most dramatic effect. It's important to have plants that are well maintained and in tip-top condition.

 3. Paint it.
Paint is one of the easiest and most cost-effective ways to make a substantial change. Use dramatic colors in powder rooms and dining rooms, and more neutral colors in living spaces. When selecting colors, "be sure to ask, 'What am I trying to do? How do I want this to feel?'" And always, always do a test before you paint the whole room. 

 4. Organize it. 
Clutter just happens. So neaten up! A variety of organizing tools can make a space feel polished while maintaining utility. Hooks and shelves inside the door give people a place to hang coats and keys, while canvas bins or natural baskets help contain magazines and mail. Just a row of hooks pre-attached on a board is so easy to install. And shelves are a great way to neatly display collectibles. 

5. Hide it.
Have a banged-up wall? It may be easy to camouflage. Paintable wallpaper will smooth out an uneven wall or hide minor dents and dings. Adventurous home owners can even try a simple two-step painting process for a more complex finish. A apply a solid base coat, then a glaze. 

Your intent should never be to mislead buyers; be sure to disclose flaws that would affect home value. 

6. Replace it.
Cabinet handles, switch plates, and other small pieces of housing hardware can update a home for just a few dollars a piece. Scan each room to see what looks worn or outdated and then replacing it. Inexpensive quick-connect faucets can make upgrading the look of your bathroom a snap. Just be sure to measure before you go to the hardware store. Some sinks are drilled for an eight-inch spread. Others require just four inches. 

And don't forget the toilet seat. Fresh towels and a new toilet seat go a long way toward making a bathroom feel clean and new. 

7. Light it.
Lighting can have a major impact on a home's look and feel. Whether a room seems dark or too bright and harsh, try "layering" the lighting by adding accent pendants and lamps. Make sure they have independent controls, so that you can turn them on and off at will. 
Light is such a mood setter. You can create a cozy feel just by turning down the lights. Add dimmers in the dining room, bathrooms, kitchen, and even the hallways for less than $4 each. Then adjust the lighting to create the mood you want.

 8. Clean it.
Turn a critical eye to the flooring to make sure it's up to snuff. Scrub grout and seal natural stone. Rub out scratches and nicks on wood floors with scratch cover. Get down on your hands and knees and detail the floors. It takes a little elbow grease, but the results are well worth it. Vinyl flooring is a bit harder to spruce up but usually can be replaced easily and inexpensively.

Interested in selling your Montgomery home? Give me a call, I’m glad to help!

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Montgomery Real Estate For Sale: 3417 Southview Avenue

Thursday, April 9, 2009
by The Hat Team
Montgomery Real Estate For Sale:

3417 Southview Ave, Montgomery AL 36111
MLS# 263455

Have you ever wanted your very own PARK? Do you enjoy lush landscape, privacy, rolling lawns, intimate outdoor rooms, and communing with nature? If you say "yes" to any of these questions, then you have found shangri-la! The jewel of this Edgewood property is the expansive double lot and grounds designed by the Olmsted firm (Central Park, New York!) Oh, and I almost forgot to mention the AWESOME house built for entertaining. Grand sized living and dining rooms, and a spacious yet cozy den/family room with "pickled cypress-finish" walls and built-ins. For your teenagers, there is a cool 2nd floor loft-like getaway suite with its own entrance, and for the guys, there is a "man-cave" on the lower level just perfect for exercise equipment, power tools, video games, and beer coolers! This most special and unique home and grounds are waiting for another family to fall in love with it, so call us today for your personal tour.

Learn more about 3417 Southview Avenue and other Montgomery real estate by visiting HatTeam.com.

Search all Montgomery real estate and homes for sale.

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Montgomery Real Estate For Sale: 2501 Winchester Road

Thursday, April 9, 2009
by The Hat Team
Montgomery Real Estate For Sale:
 
Looking for the best deal in Vaughn Meadows? Here it is! This spacious brick home on large corner lot has great bones and awaits fresh paint, new carpet, and your creativity in updating the ample kitchen and bathrooms. Your family will have lots of room to grow with 4 well-proportioned bedrooms; and plenty of room to play in the huge backyard.

Laern more about 2501 Winchester Road and other Montgomery real estate by visiting HatTeam.com.

Search all Montgomery real estate and homes for sale.
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