Real Estate Information

Montgomery Real Estate Blog

The Hat Team

Blog

Displaying blog entries 1591-1600 of 1998

Pros and Cons Of Buying a New Montgomery AL Home

Friday, June 17, 2011
by The Hat Team

Considering buying a newly built Montgomery AL home? Here are some things to think about.

ADVANTAGES:

  • HOME WARRANTY: Generally this warranty is good for one year and covers heating, cooling, and electrical systems and plumbing. Some also cover appliances.
  • INCENTIVE PROGRAM: Many builders use incentives, both large and small, to attract buyers. Examples include vacations or furnishing for your Montgomery AL home. Note: these incentives are often offered only if you use the builder’s lender.
  • CUSTOM DESIGN: If you become involved with the builder early in the building process, you may have a say in the home’s construction--from customized features to flooring to colors.
  • FASTER CLOSING. No titles to search.
  • SAFETY/HEALTH: No worries about old wiring. lead paint, or asbestos.
  • LESS MAINTENANCE: Materials used in the exterior of a new home do not require yearly painting.
  • ENERGY EFFICIENCY: Less waste, and thus lower bills.

PRECAUTIONS:

  • HIRE A BUYERS REAL ESTATE AGENTwooden home who is experienced in new home sales. A strong realtor negotiating on your behalf can save you thousands!
  • CHECK OUT THE BUILDER: Talk to those already living in the new community. Find five or six homeowners who have purchased a Montgomery AL home from him in the past five years. Ask what they like and don’t like about their houses. Has he been responsive to problems? Check with the Better Business Bureau to see if there are complaints against him.
  • EVALUATE THE BUILDER’S LENDER: Some builders own their own lending company and therefore don’t offer you the best deal . Beware of being locked into using that lender in order to qualify for incentives. Request that the lender guarantee its Good Faith Estimate.
  • HIRE A HOME INSPECTOR: Even if you have a one year warranty on your Montgomery AL home, some problems won’t surface until that service has expired.
  • GET LEGAL ADVICE: Have a real estate lawyer check your purchase agreement to make sure you are protected and to explain your liabilities and commitments.
Add Comment

Montgomery Real Estate For Sale: 3228 Lexington Road Montgomery, AL 36106

Friday, June 17, 2011
by The Hat Team

Montgomery Real Estate For Sale: 3228  Lexington Road Montgomery, AL 36106

MLS#284664

This unassuming tudor-style cottage has some awesome architectural detailing! Classic barrel-vault ceiling and lots of natural light in living room give a feeling of openness. The "moorish" style fireplace between the living and dining rooms seems to "float" and has a unique niche built-in for a treasured piece of sculpture. Wide central hall is a great place to show off an art collection and is even big enough for furniture. If you like retro, you will flip over the hall bath with its original yellow and black retro tile that looks like it came from the Chrysler Building in New York! Off the living room is a private side courtyard that leads to an open backyard with plenty of space for kids and pets to play. Unfinished basement is a great storm shelter and could be a cool space to store wine. Recent improvements include new roof, French drain system, fresh paint, and new double pane window in the living room.

Learn more about 3228 Lexington Road and other Montgomery Real Estate by visiting HatTeam.com. 

Search all Montgomery Real Estate and homes for sale.

 

Add Comment

The Greening Of Your Montgomery AL Home

Friday, June 10, 2011
by The Hat Team

As you may already know, the addition of live plants in your home is a frequently used decorating tool which creates a relaxed atmosphere, adds visual impact, and fills empty spaces. But did you also realize that “bringing nature inside” actually makes your Montgomery AL home a healthier place?

Indoor environments are filled with dangerous volatile organic chemicals (VOCs) given off by furniture, paint, plastics, adhesives, carpets, insulation, furnaces, stoves, fireplaces, and building materials--but don’t despair! One NASA study found that common houseplants--in addition to absorbing carbon dioxide, releasing oxygen, and providing humidity--can improve indoor air quality by removing up to 87% of air toxins from your Montgomery AL homelight bulb in 24 hours.

Once interior pollutants are decreased in your home, you and your family will most likely experience fewer coughs, colds, headaches, sore throats, and less fatigue by as much as 30%. Studies have also shown that the presence of green houseplants generates a calming effect on the inhabitants, especially children. One study in England found that restlessness and behavioral problem among children in rooms containing plants was reduced by 70%! Also, since green plants absorb noise, they help relax the nervous system, thus lowering stress levels.

So what plants to choose? All houseplants improve the quality of indoor air, but some are particularly effective purifiers. Many of these originated in the tropics in low light, so they are efficient at processing and absorbing gasses needed for photosynthesis. Most are also insect resistant and are fairly easy to grow. Especially popular are the following:

  • Mother fern
  • Boston fern
  • Philodendrons
  • Palms
  • Ficus
  • Peace lilies
  • Ivy
  • Rubber plants
  • Spider plant

Mix it up and have a variety of types. Don’t ignore corners; not all plants need to be near a window. Take care of your plants so they can do their job; keep the soil/root area clean and avoid overwatering, which can cause mold!

Add Comment

Montgomery Real Estate For Sale:1254 South Hull Street Montgomery, AL 36104

Tuesday, June 7, 2011
by The Hat Team

Montgomery Real Estate For Sale:1254 South Hull Street Montgomery, AL 36104

MLS#284711

Hang Onto Your Heart! You'll have to see it to believe the grandeur for the price. Huge, light-filled rooms, most with beamed ceilings and double French doors. 8 fireplaces (7 decorative, vented gas logs in living room.) Granite countertops, stainless appliances, inlaid wood floors AND almost new tankless water heater AND new roof being installed momentarily. Live like a king and/or queen on a commoner's budget in Montgomery's historic Garden District.

Add Comment

Montgomery Real Estate For Sale: 2638 Girard Street Montgomery, AL 36106

Tuesday, June 7, 2011
by The Hat Team

Montgomery Real Estate For Sale: 2638 Girard Street Montgomery, AL 36106

MLS#284737

Just 2 blocks from all the action! Literally walk (or crawl) home from Sinclair's, 1048, Bud's and El Rey; or stroll to the Capri and the new Cloverdale Playhouse! This cute-as-a-speckled-puppy cottage has been updated and is move-in ready! Traditional living room and dining room live like an "old house", and great big den/family room addition on the back has a more contemporary feel. Corner lot affords space and privacy. If you like being outdoors, you will love the back yard! Great patio, cool arbor, koi pond with water feature, mature shade trees, and beautiful landscaping invite you to just relax. More "green spaces" on the side and between the house and garage make great play areas as well. Convenient, affordable, updated, and ready to move into...make plans to see this home TODAY!

 

 

Add Comment

Is a Reverse Mortgage Right for Your Montgomery AL Home?

Friday, June 3, 2011
by The Hat Team

Because of today’s economic situation, rapidly rising health care costs, and falling retirement and savings account balances, many seniors are feeling financial stress. Looking for relief from their monetary woes, over 600,000 seniors have taken advantage of the FHA’s Home Equity Conversion Mortgage (HECM), better known as a reverse mortgage.

mortgageA reverse mortgage is a special type of home loan based on age, equity, interest rates, and the value of your Montgomery AL home, a reverse mortgage allows you to not only forego paying monthly mortgage rates but also to receive money (as long as at least one borrower lives in the home) on a continuous monthly basis, for a fixed period of time, or in unscheduled installments as needed.

To qualify for a HECM, the FHA requires that you own your home outright or have a low mortgage balance that can be paid from the loan’s proceeds, be at least 62 or older, and that you continue to reside in your Montgomery AL home. Single family homes and 1-4 unit homes with one unit occupied by the borrower are eligible. The same holds true for HUD approved condos and manufactured homes that meet FHA standards.

A reverse mortgage differs from a home equity loan in that you do not make monthly payments, and it is available to you regardless of your income. The amount of the HECM is based on your age, the current interest rate, and the appraised value of your Montgomery AL home.

When you or the last surviving homeowner moves from the house or passes away, you or your estate has approximately 12 months to repay the loan amount, with fees and interest, to the lender. Any remaining equity after a sale will belong to you or your heirs. If the proceeds of the sale are not enough to cover the loan, the lender, not you or your heirs, must take the loss.

There are four ways to receive your money:

  1. Lump sum--all the cash at closing
  2. Tenure--equal monthly payments as long as the house is the principal residence.
  3. Term--equal monthly payments for a fixed number of years.
  4. Line of credit--funds available to draw on at any time.

Note: the borrower can “mix and match” any of the above plans and can use the money for any purpose.

As with all government programs, you need to give careful consideration to all of your options. In fact, potential HECM borrowers are required to receive some type of consumer pre-counseling about the program. You can find an HECM counselor online at or by calling 1-800-569-4287. You can also contact the National Council on Aging at 1-800-510-030 or online at. BEWARE of reverse mortgage companies who charge a fee to refer you to a lender! It is best to work only with lenders who are members of the Better Business Bureau and the National Reverse Mortgage Lenders, organizations which adhere to a strict code of ethics and standards.

Add Comment

Montgomery AL Foreclosure Trends - April 2011

Friday, May 27, 2011
by The Hat Team

There were 1,311 Montgomery AL foreclosure homes for sale with 171 new foreclosures in April 2011. The average selling price of a Montgomery AL home was $163,408 and the average foreclosure selling price was $93,093 a $70,315 savings, according to RealtyTrac.com.

Montgomery AL Foreclosure Activity and 30 Year Interest Rate

Montgomery interest rates averaged 4.84% in April while the number of foreclosed homes decreased from 228 in March to 171 in April.

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 0.01% higher than national statistics. 0.10% higher than Alabama and 0.01% higher then Montgomery County statistics for the month of April.

montgomery al foreclosure

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties decreased from 151 homes in March to 121 in April. The number of Auctions decreased from 84 to 50. 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.

Add Comment

Montgomery Real Estate For Sale: 2428 Oxford Drive Montgomery, AL 36111

Friday, May 20, 2011
by The Hat Team

Montgomery Real Estate For Sale: 2428 Oxford Drive Montgomery, AL 36111

MLS#284354

Lots of house for the money! Whether you are looking for a deal as owner occupant and are willing to put in some sweat equity, or you are a savvy investor looking for a great deal with good tenants already in place that cash flow, you should give this one a look! Traditional floor plan has well proportioned rooms and great hardwood floors. Den/family room features a fireplace, and out back there is a covered patio and large fenced back yard. "Property to be sold as is."

Learn more about 2428 Oxford Drive and other Montgomery Real Estate by visiting HatTeam.com.

 

Search all Montgomery Real Estate and homes for sale.

 

Add Comment

Midtown Montgomery Real Estate Sales Statistics - April 2010

Friday, May 20, 2011
by The Hat Team

Home sales are expected to stay on an uptrend through 2012, although the performance will be uneven with mortgage constraints weighing on the market, according to real estate experts.

Lawrence Yun, National Association of Realtors chief economist, said existing-home sales have been underperforming by historical standards and will rise gradually but unevenly. “If we just hold at the first-quarter sales pace of 5.1 million, sales this year would rise 4 percent, but the remainder of the year looks better,” Yun said. “We expect 5.3 million existing-home sales this year, up from 4.9 million in 2010, with additional gains in 2012 to about 5.6 million – that’s a sustainable level given the size of our population.”

Now take a look at how the Midtown Montgomery real estate market performed in April.

Midtown Montgomery real estate sales statistics for April show the average sales price decreased by 10% to $129,495 when compared to April 2010.  The number of homes sold decreased by 33% in April.  The median sales prices decreased by 20%, while market times decreased 20% or 27 days.  The highest selling home price decreased by 5%, and the lowest selling home price increased by 29%.

Midtown Montgomery April 2011 April 2010
Homes Sold 29 43
Average Selling Price $ 129,495 $ 144,517
Median Selling Price $ 100,000 $ 125,000
Days On The Market 105 132
Highest Selling Price $ 649,000 $ 683,000
Lowest Selling Price $ 8,500 $ 6,000

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.

Add Comment

Dealing With a Low Appraisal On Your Montgomery AL Real Estate

Sunday, May 15, 2011
by The Hat Team

So it has happened. You’ve spent recent months preparing your house for sale, negotiating a fair price, and anxiously awaiting the closing date. And now the appraisal on your Montgomery AL real estate has come in below the offered price. What to do? First, remain calm. This is not an unusual problem in today’s market. Understanding the reason(s) for the disappointing appraisal and exploring your options in saving the transaction may well be helpful at this point.

REASONS FOR A LOW APPRAISAL:

  • Overpricing by you, the seller
  • Declining market values
  • An abundance of foreclosures or short sales in your neighborhood
  • Inflated price resulting from multiple offers
  • Incorrect evaluation by the underwriter
  • Cash back to the buyer from the seller
  • Error on the part of the appraiser

STEPS YOU CAN TAKE:

  • Lower the price on your Montgomery AL real estate. Research the latest comps for your area, think realistically about your asking price, and decide if you are willing to begin the whole process again.
  • Ask the buyer to make up the difference in cash.
  • Offer to carry a second mortgage for the buyer if the above option is not possible.
  • Check the appraisal for errors in information about your Montgomery AL real estateappraisal.  Is the square footage correct? What about the number of bedrooms or bathrooms? Have any recent improvements you’ve made to the property been included? If not, appeal the appraisal.
  • Supply to the underwriter a list of recent comparable sales that justify the selling price and ask for a review of the appraisal.
  • Order a new appraisal. Although you or your buyer will have to pay for it out of pocket, it could certainly be money well spent if it results in a higher appraisal. If your loan is an FHA loan, ask your lender for a list of approved appraisers. If it is a conventional loan, it is subject to the rules of the Home Valuation Code of Conduct (HVCC).
  • Cancel the transaction. The last resort after trying to resolve the situation. Most purchase contracts contain a loan contingency dealing with low appraisals.
Add Comment

Displaying blog entries 1591-1600 of 1998

Syndication

Categories

Archives

   cdpe    crsHat Lady on Zillow