Real Estate Information Archive

Blog

Displaying blog entries 501-510 of 656

Montgomery AL Foreclosure Trends - April 2012

Thursday, May 17, 2012
by The Hat Team

There were 819 Montgomery AL foreclosure homes for sale with 1 in every 936 housing units receiving a foreclosure filing in April 2012. The average selling price of a Montgomery AL home was $105,207 and the average foreclosure selling price was $76,446, a $28,761 savings according to RealtyTrac.com.

Montgomery AL Foreclosure Activity and 30 Year Interest Rate

Montgomery interest rates averaged 3.91% in April while the number of foreclosed homes dropped from 108 to 101.

montgomery al foreclosure

Foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Montgomery AL Foreclosure Geographical Comparison

Montgomery AL foreclosure activity was 0.03% lower than national statistics, 0.03% higher than Alabama and 0.01% higher than Montgomery County statistics for April 2012.

montgomery al foreclosure 

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties increased from 28 homes in March to 35 in April. The number of Auctions dropped from 81 to 66. There is a 6-month rising trend.

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!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

 

Add Comment

In Danger of Losing Your Montgomery AL Real Estate? Making the Loan Modification Process Easier

Friday, May 11, 2012
by The Hat Team

When the Obama administration rolled out the Home Affordable Modification Program (HAMP) in 2009, officials estimated 3 to 4 million borrowers would seek relief from their mortgages through the program during the worst recession and housing market collapse in decades. More than two years later, however, those projections have proven to be optimistic, to say the least. According to the Treasury Department, only about 700,000 homeowners had sought aid from HAMP through the third quarter of 2011.

montgomery al real estateA major reason for the smaller number is that many distressed owners of Montgomery AL real estate are intimidated by the confusing process involved in applying for HAMP and don’t know how to go about getting the help they need.  It doesn’t have to be that way, however.

Stephfan Nurse, a loan modification expert and founder of ConsumerEducationOnline.com, says, “The key is knowing and understanding your options. With education, you are empowered."  His online site is designed to give owners of Montgomery AL real estate the information they need to navigate the process. It includes a free pre-qualifier, where homeowners can input their figures and determine for which modification program they qualify.  It also offers software to assist in preparing financial statements and necessary documents, thus reducing stress on the applicant.

In order to make the loan modification process go as smoothly as possible, it is necessary that you, the owner of Montgomery AL real estate, understand it fully and seek available help. Visit Making Home Affordable for free HUD-approved counselors, helpful phone numbers, detailed explanations of terms, etc.

Be aware that HAMP is not your only option. The fact is that more than 70 percent of modifications now are internal modifications made available by the investor holding the mortgage note. The only way to get an internal modification is to ask for one. Worth noting: HAMP bases its modifications on gross income (your mortgage must exceed 31 percent of what you make in a month) while internal modifications are based on monthly net (after-tax) income.

Another important tip: Be complete and thorough in your paperwork. Lenders receive thousands of faxes every day, so make sure your account number is on every page and that all questions and categories are filled out. It's also best to follow up with the lender weekly.  Being diligent, informed, and proactive are effective ways to hold on to your Montgomery AL real estate.

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.

You can reach Sandra by filling out the online contact form below or give her a call anytime.

Add Comment

Midtown Montgomery Real Estate Market Trends - March 2012

Thursday, April 26, 2012
by The Hat Team

The increases in FHA mortgage guarantee costs that took effect on April 1 have many home buyers asking, "What do these increases mean to me when I get an FHA loan?"  Megan Booth and Rob Freedman with Realtor.tv break down the facts in this informative video.

Lets look at the statistics in our local real estate market? 

Midtown Montgomery real estate sales statistics for March show the average sales price decreased by 26% to $95,339 when compared to March 2011.  The number of homes sold increased by 33% in March 2012.  The median sales prices decreased by 51%, and market times increased by 8% or 11 days.  The highest selling home price increased by 7%, and the lowest selling home price increased by 67%.

Midtown Montgomery March 2012 March 2011
Homes Sold 33 22
Average Selling Price $ 95,339 $ 128,461
Median Selling Price $ 55,000 $ 112,000
Days On The Market 133 122
Highest Selling Price $ 375,000 $ 350,000 
Lowest Selling Price $ 13,500 $4,500

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.

You can reach Sandra by filling out the online contact form below or give her a call anytime.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

Add Comment

Montgomery AL Foreclosure Trends - March 2012

Friday, April 20, 2012
by The Hat Team

There were 848 Montgomery AL foreclosure homes for sale with 1 in every 867 housing units receiving a foreclosure filing in March 2012. The average selling price of a Montgomery AL home was $95,359 and the average foreclosure selling price was $27,444, a $67,915 savings according to RealtyTrac.com.

Montgomery AL Foreclosure Activity and 30 Year Interest Rate

Montgomery interest rates averaged 3.95% in March while the number of foreclosed homes rose from 80 to 109.

montgomery al foreclosure

Foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Montgomery AL Foreclosure Geographical Comparison

Montgomery AL foreclosure activity was 0.04% lower than national statistics, 0.03% higher than Alabama and the same as Montgomery County statistics for the month of March 2012.

monrtomery al foreclosure 

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties decreased from 44 homes in February to 28 in March. The number of Auctions climbed from 36 to 81. There is a 6-month rising trend.

montgomery al real estate

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.

You can reach Sandra by filling out the online contact form below or give her a call anytime.

 

Add Comment

Montgomery Real Estate For Sale: 121 Bradley Drive Montgomery, Al 36109

Saturday, April 14, 2012
by The Hat Team

Montgomery Real Estate For Sale

121 Bradley Drive Montgomery, Al 36109

MLS#290124

Become a landlord the easy way. Buy this sweet little cottage with a good tenant already in place! No worries about making payments on a vacant house or finding a reliable property manager. Short sale subject to lender approval so you'll have to be patient. And your patience will be rewarded with a great deal!

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.

You can reach Sandra by filling out the online contact form below or give her a call anytime.

Add Comment

Montgomery Real Estate For Sale: 2836 Spann Place Montgomery, Al 36107

Saturday, April 14, 2012
by The Hat Team

Montgomery Real Estate For Sale

2836 Spann Place Montgomery, Al 36107

MLS#290129

Attention Investors--Lender's Loss is Your Gain! Own this sweet little cottage for about 1/3 of what current owner paid a few short years ago. Great cash flow with good tenant already in place! No worries about making payments on a vacant house or finding a reliable property manager. Short sale subject to lender approval so you'll have to be patient and your patience will be rewarded with a great deal!

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.

You can reach Sandra by filling out the online contact form below or give her a call anytime.

Add Comment

How Mortgage Insurance Really Works

Thursday, April 5, 2012
by The Hat Team

When you buy Montgomery AL real estate without a down payment of at least 20%, the lender, be it FHA or a private mortgagor, requires that you purchase mortgage insurance to protect it against financial loss.  Mortgage insurance, not to be confused with mortgage life insurance or homeowner’s insurance, assures the lender of no financial loss or a very reduced one) if you default on the loan.

The cost of this insurance—from .25 to 6% of the loan—is almost always the responsibility of the buyer of Montgomery AL  real estate.  (There is such a thing as lender-paid insurance, but this type carries a higher interest rate and is non-refundable.)  Usually the borrower has a choice of payment plans, which included the following:

  • Annuals. The borrower pays the first-year premium at closing; an annual renewal premium is collected monthly as part of the total monthly house payment.
     
  • Monthly Premiums. The cost is slightly more than traditional mortgage insurance plans but monthly premiums dramatically reduce mortgage insurance closing costs. Borrowers pay for mortgage insurance monthly as part of their total monthly house payment but need to pay only one month's mortgage insurance premium at closing, rather than one year's. 
     
  • Singles. The borrower pays a one-time single premium (instead of an initial premium and renewal premiums). Since single premiums are typically financed as part of the mortgage loan amount, no out-of-pocket cash is used for mortgage insurance with a nonrefundable premium at closing.

These plans offer the choice of refundable or nonrefundable premiums. A refundable premium allows the borrower the opportunity to receive money back on any unused portion, in the event that mortgage insurance coverage is discontinued before the loan is paid in full. The cost for a nonrefundable premium is slightly less than that of a refundable premium, thereby giving the borrower a small savings. If coverage is discontinued on a loan with a nonrefundable premium, the borrower has no opportunity for a refund.   If you are unsure which plan is best for you, visit your state mortgage insurance office.

insuranceUnfortunately, rumors and myths abound about the difficulty or even impossibility of cancelling refundable mortgage insurance.  Fortunately, however, the Homeowner’s Protection Act of 1998 requires lenders of insurance loans for Montgomery AL real estate to notify consumers of their rights in this regard on a yearly basis and to automatically cancel the insurance when the mortgage has amortized to 78% of the original property value.  In addition, you may apply for cancellation of your mortgage insurance when that percentage reaches 80%.  For specific details of the HPA requirement in terms of timing and content of these notices, click here. 

While paying for mortgage insurance does entail an extra expense for the home purchaser, it also has its benefits.  It allows new buyers to become a homeowner sooner than if they needed to have a 20% down payment and greatly increases their buying power.  Repeat buyers can gain a significant tax advantage by having more deductible interest to claim.  They can also use the money saved by not putting down 20% to cover moving costs or to put into other investments.

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.

You can reach Sandra by filling out the online contact form below or give her a call anytime.

 

 

Add Comment

Montgomery AL Foreclosure Trends - February 2012

Friday, March 30, 2012
by The Hat Team

There were 874 Montgomery AL foreclosure homes for sale with 1 in every 1,181 housing units receiving a foreclosure filing in February 2012. The average selling price of a Montgomery AL home was $97,803 and the average foreclosure selling price was $69,578, a $28,225 savings according to RealtyTrac.com.

Montgomery AL Foreclosure Activity and 30 Year Interest Rate

Montgomery interest rates averaged 3.89% in February while the number of foreclosed homes dropped from 117 to 80.

montgomery al foreclosure

Foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Montgomery AL Foreclosure Geographical Comparison

Montgomery AL foreclosure activity was 0.08% lower than national statistics, 0.01% higher than Alabama and the same as Montgomery County statistics for the month of February 2012.

montgomery al foreclosure 

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties decreased from 59 homes in January to 44 in February. The number of Auctions dropped from 58 to 36. There is a 6-month falling trend.

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.

You can reach Sandra by filling out the online contact form below or give her a call anytime.

 

Add Comment

Midtown Montgomery Real Estate Market Trends - February 2012

Friday, March 23, 2012
by The Hat Team

Housing affordability conditions have reached the highest level since recordkeeping began in 1970, according to the National Association of Realtors®.

NAR’s Housing Affordability Index rose to a record high 206.1 in January, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power. An index of 100 is defined as the point where a median-income household has exactly enough income to qualify for the purchase of a median-priced existing single-family home, assuming a 20 percent down payment and 25 percent of gross income devoted to mortgage principal and interest payments.

NAR projects the affordability index for all of 2012 will be at an annual high, with little movement in mortgage interest rates or home prices during the year.

What does affordability look like in our local real estate market? Take a look at February figures.

Midtown Montgomery real estate sales statistics for February show the average sales price decreased by 4% to $96,324 when compared to February 2011.  The number of homes sold decreased by 5% in February 2012.  The median sales prices decreased by 26%, and market times increased by 3% or 3 days.  The highest selling home price increased by 1%, and the lowest selling home price decreased by 77%.

 

Midtown Montgomery Feb 2012 Feb 2011
Homes Sold 19 20
Average Selling Price $ 96,324 $ 99,860
Median Selling Price $ 60,000 $ 81,200
Days On The Market 116 113
Highest Selling Price $ 286,000 $ 285,500
Lowest Selling Price $ 4,000 $17,500

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.

You can reach Sandra by filling out the online contact form below or give her a call anytime.

Add Comment

Montgomery Real Estate For Sale: 2263 Country Club Drive Montgomery, AL 36106

Wednesday, March 21, 2012
by The Hat Team

Montgomery Real Estate For Sale:

2263 Country Club Drive Montgomery, AL 36106

MLS#291429

Great bones and unique custom 1950's features make this home on desirable Country Club Dr. a must see. Built in 1947, this three bedroom and two bath home has a traditional layout and beautiful detail in woodwork and built-in cabinetry. In the mid 1950's the owner'/builder (noted for building Normandale Mall) added a fantastic den and playroom addition for his growing family. The vaulted ceiling, cork floor, and terrazzo fireplace are eye catching, and '50's fans will love the vintage "Brady-Bunch" staircase in the back of the room leading to the huge bonus/playroom above the two car garage. The hidden gem of this property is that it backs up to a private city park, shared only by the homes on its perimeter. With a playground for kids and large open field it is a great spot for sporting events and leisure.

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.

You can reach Sandra by filling out the online contact form below or give her a call anytime.

 

 

 

Add Comment

Displaying blog entries 501-510 of 656

Syndication

Categories

Archives

   cdpe    crsHat Lady on Zillow