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Displaying blog entries 1861-1870 of 1998

Montgomery AL Real Estate Tip: Questions To Expect From Your Lender

Thursday, July 10, 2008
by The Hat Team

Before lending you a large sum of money to purchase a piece of Montgomery AL real estate, it is understandable that your lender will want to know a little bit about you and your ability to pay back the loan.  If you are a first-time homebuyer, or if it has been a while since you last spoke with your lender, it is helpful to be prepared for some of the questions you may be asked and to have some responses in mind.  Below are some general examples of questions you may expect to hear when applying for a home loan:

 

Employment and income

•

Where do you work?

•

How much do you make?

•

How long have you been at your job?

•

How is your income derived -- steady salary or irregular income? (if it’s the latter, plan on providing more details so that you get a favorable interest rate)


Outstanding debts

•

What recurring debts do you have?

•

How much do you pay a month for auto loans?

•

Credit cards?

•

How much of your monthly pretax income do these debts consume?


Cash reserves and assets

•

How much money do you have in the bank?

•

How much will be left after you pay your down payment and closing costs?


Down payment

•

How much money are you putting down?

•

Is this your own money? A gift? A nonprofit agency grant?


Loan purpose

•

Is this mortgage for a home buy or refinance?

•

If it's a refinance, do you want to take cash out at closing to pay off other debts?

•

If so, how much?


Property use

•

Do you plan to live in the house?

•

Is it investment property?


Property type

•

A condominium?

•

A duplex?

 

In order to get the best possible interest rate and gain the trust of your lender, you will want to be able to prove that you’ve had steady employment (preferably with the same employer or in the same line of work) for two or more years.  You also want to avoid making any major purchases before applying for a loan – if a lender sees that you’ve just purchased an automobile last week, your debt-to-income ratio goes up and your ability to pay down a home loan goes down.  It is preferable to be making a down payment of at least 5% of the sales price with your own money and to prove that you have at least two months’ worth of mortgage payments in the bank; however, there are many programs such as Fannie Mae that require much lower down payments. 

 

To learn more about investing in Montgomery AL real estate or for a referral to a reputable lender, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com. 

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Homes Vs. Houses

Tuesday, July 8, 2008
by The Hat Team

Early in my career, I noted that military families—especially officers who were widely travelled—owned a lot more “stuff” than most of their civilian counterparts.  And it finally dawned on me that, for them, home probably WAS their stuff.  So I felt affirmed when I read the following letter from Alan Whittle in a recent READER’S DIGEST;

“Being in the Air Force means having to move frequently.  When some friends of ours were transferred to a nearby base, the local TV station interviewed them for a human-interest story.  The interviewer asked their five-year-old daughter how she felt about settling into a new home.  She calmly replied, ‘Oh, we carry our home with us—we just have to find a house to put it in.’”

Out of the mouths of babes…..

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Montgomery AL Home For Sale - 2324 Chestnut Street

Monday, July 7, 2008
by The Hat Team


If you're looking for privacy and quiet, look no further. This little piece of Chestnut Street dead-ends both directions so there is no thru traffic. And to the east of the 70-ft lot are 3 additional un-built lots accessible only from this property, so you control what happens. Big rooms, fair condition. Needs cosmetic work to become a peaceful retreat.

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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Montgomery AL Home For Sale - 5736 Sweet Meadow Drive

Monday, July 7, 2008
by The Hat Team


Better than the others as this home has beautiful laminate floors throughout most of the house. The great room is truly great with vaulted ceilings and exposed beam. Stunning fireplace, decorator colors and split floor plan will make you feel right at home. The backyard is fully fenced with a privacy fence. It has a large detached storage building and is rimmed by large shade trees. This is a must see so hurry.

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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Celebrating Independence Day in Montgomery AL

Thursday, July 3, 2008
by The Hat Team

Happy 4th of July, Montgomery!  Although this weekend is a time for fireworks and enjoying time with friends and family, it is also a time to remember what makes our country so great – our freedom.  So as you gather with friends and family on Friday, take a moment to thank our military—living and dead, at home and abroad—for the sacrifices they have made for us.  Because, as we all know, freedom isn’t free!

 

Be sure to check out the fireworks display and family-friendly events at the Montgomery Fourth of July Riverfront Celebration! 

 

We’ll return to discussing Montgomery AL real estate next week; however, if you would like more information about Montgomery AL real estate, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com. 

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Montgomery AL Real Estate Sales Expected To Rise

Thursday, June 26, 2008
by The Hat Team

A modest gain in the level of Montgomery AL real estate sales is possible over the next couple months, and an improvement is forecast for the second half of this year as more buyers are able to access affordable mortgages, according to the latest forecast by the National Association of Realtors®.

 
The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in April, rose 6.3 percent to 88.2 from a reading of 83.0 in March. It’s the highest index since last October, but remains 13.1 percent lower than April 2007 when it stood at 101.5.

Lawrence Yun, NAR chief economist, said pending sales contracts have picked up notably in areas undergoing significant price drops. “Bargain hunters have entered the market en masse, especially in areas that have experienced double-digit price declines, but it’s unclear if they are investors or owner-occupants,” he said.
 
Let’s take a look at the May sales statistics to see how things are looking in the Montgomery AL real estate market:
  
Midtown Montgomery saw a 48% decrease in pending sales this May, when compared against May 2007.  Likewise, sold listings were down 34%.  While the average sales price dropped 4% to $142,820, homes were on the market for an average of 29 fewer days than in 2007.

Midtown
Montgomery
Pending
Sales
Sold
Listings
Average
Market Times
Average
Sales Price
May 2008
38
37
104
$142,820
May 2007
72
56
133
$149,412

As these statistics and national trends show, this is a great time to consider buying Montgomery AL real estate. 
To learn more about the current Montgomery AL real estate market, please call me at 800-HAT-TEAM or visit HomesForSaleInMontgomeryAlabama.com.
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Montgomery AL Home For Sale - 1902 Madison Avenue

Tuesday, June 24, 2008
by The Hat Team


Fantastic turn of the century Queen Anne with original stained mouldings, high ceilings, gorgeous double doors, and more accents than I have room to mention. The large Living room boasts coffered ceilings and a fireplace, and the big den family room (originally the formal DR) has a wood burning stove for cozy winter nights. The updated kitchen has retained its charm with original built-in stained cabinetry, and has a center island with Jennaire downdraft gas range and separate breakfast bar. Off the kitchen is a rear entry porch/mudroom. The central stair hall has stained glass window and graceful stairs leading to a 2nd floor landing area big enough for sitting room/game room/tv area for kids (current use.) Upstairs are 3 spacious bedrooms, a huge updated bath, and an enormous walk-in closet. Out back there is a rear deck overlooking a large asian-inspired courtyard and garden complete with fish pond and fountain. And, don't miss the detached guest cottage, that has been recently rented for $485/month! Here's your chance to own a truly one-of-a-kind historic house with all the amenities of newer home...just minutes from downtown and all the new and exciting things happening there!

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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Montgomery AL Home For Sale - 1963 Johnson Street

Tuesday, June 24, 2008
by The Hat Team


This Highland Gardens cottage is move in ready and ideal for family home or for a superb investment property. Large living room has fresh carpet and real fireplace with custom tile surround. Dining room has hardwood floors and a bonus room/study adjacent (was probably once an open porch that has been enclosed.) Kitchen has hard tile floor. 3 bedrooms and an updated bath with glass doors on the shower/tub. Out back is a wonderful covered deck overlooking a large in ground pool. The big back yard has a privacy fence around and a detached garage/storage. Note: lot goes an additional 125 feet beyond back fence...HUGE lot!

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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Montgomery AL Home For Sale - 3103 Sutton Drive

Saturday, June 21, 2008
by The Hat Team


A lot of house for the money! This lovely garden home boasts of spacious rooms, large closets and character galore. The master bedroom and bath is downstairs while the other 2 bedrooms are up. There is a formal dining room and galley style kitchen with breakfast area. Call today to see this beauty.

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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Montgomery AL Home For Sale - 2006 McKinley Avenue

Saturday, June 21, 2008
by The Hat Team



If you want good living space and great storage/workshop areas at a great price, this one's for you! This Brick 2 bedroom 1 bath Capitol Heights charmer has a spacious formal living room with real fireplace. The dining room is large enough for big family gatherings, and the kitchen has enough room for 2 cooks, and there is even a breakfast room! There is a bonus room off the kitchen that is currently used as a third bedroom and a den/family room addition. Out back there is a 1 car garage, a workshop, and another separate permanent storage building, all surrounded by a fence. Owner says there are hardwood floors under the carpet in the LR, DR, and hall/bedrooms. All this priced under $80,000!

For more information on this home or other Montgomery real estate, visit our website, HatTeam.com or give us a call for more personalized service, 800-428-5239.

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Displaying blog entries 1861-1870 of 1998

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