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National Homeownership Month

Thursday, June 7, 2007
by The Hat Team

President George W. Bush has declared June to be National Homeownership Month. Home ownership is part of the American dream and all citizens are encouraged to explore the benefits of owning a home.

We offer many free reports for Montgomery home buyers including, How Much Home Can I Afford, Eight Insider Buyer Tips, Closing Costs Explained and Questions to Ask a Realtor. These reports are invaluable when learning about the home buying process.

You can get your free reports just by visiting our website. We hope you take advantage of this incredible opportunity! We are always available to answer any questions you have about buying Montgomery real estate. Please feel free to give us a call at any time, 800-428-5239.

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Will Subprime Mortgage Market Effect Midtown Montgomery Home Buyers

Friday, March 23, 2007
by The Hat Team

The problems with the subprime mortgage market has been in the news lately with much speculation as to the effect this industry's woes will have on the real estate market and the economy as a whole.

Here is what the Wall Street Journal reported 3/12/07:

"Federal Reserve Chairman Ben Bernanke and many other economists do not expect troubles in the subprime mortgage niche to impact the overall national economy, citing a low unemployment rate and income gains. Additionally, they point to data from the Labor Department indicating that only 8 percent of consumer spending is tied to the lowest-income Americans, who make up the bulk of subprime borrowers. However, the U.S. economy could suffer if investors and lenders begin shrinking the amount of credit available to prime borrowers--a scenario that sparked previous recessions. Furthermore, rising subprime foreclosures could worsen the housing downturn, with Lehman Brothers chief U.S. economist Ethan Harris anticipating a monthly increase in inventory of as much as 20,000 homes in 2008. California, Florida and other overheated markets--as well as Ohio, Michigan and others plagued by the downturn in manufacturing--would be hit the hardest."

Need a mortgage to buy your new home? Contact us at 800-428-5239. We will refer you to a reputable, reliable and consumer friendly lender.

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Midtown Montgomery Real Estate Market Report

Friday, March 16, 2007
by The Hat Team
Buyers It's Time To Buy!

FreddieMac.com reports interest rates have been inching down for the past three weeks. This is icing on the cake for Midtown Montgomery home buyers who are benefiting from a moderately slower housing market. Sellers haven't been left out in the cold, however, as prices continue to rise. Take a look at the numbers. 

The number of single family homes in Midtown Montgomery (Midtown consists of neighborhoods south of I-85 between Exits 1 and 6) that sold in February increased by 8 or 20%!  And the number of pending listings decreased by only 3 homes or less than 2%. 

What's more, February 2007 saw market times of 169 days vs. 188 days in February 2006.  So demand is increasing along with prices. And average sales prices increased $24,140 or a whopping 17%. So it appears 2007 is well on its way to being another great year for Midtown.  

Midtown
Montgomery

Pending
Listings

Sold
Listings

Average
Market Times

Average
Sales Price

February 2007

46

40

169

$165,071

February 2006

49

32

188

$140,931

Sellers are becoming more comptetitive in their pricing to attract today's ready, willing, and able buyers. Add to this the interest rates inching down...Buyers, it is time to buy!!

If you are thinking of buying a home? You can get a daily email list of new homes for sale as they hit the market by visiting EmailMontgomeryAlabamaHomes.com. It is fast, easy and FREE! 

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

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Montgomery Tap Water Ranks In Top 10

Thursday, February 22, 2007
by The Hat Team

Men's Health magazine conducted a study of tap water in 100 cities across America. We can be proud of Montgomery 's ranking of 9 out of  the 100 cities.

The magazine examined the most recent data on levels of arsenic, lead, halo-acetic acids and total trihalomethanes (linked to cancer), and total coliform bacteria, plus the number of EPA water-system violations from 1995 to 2005.

Denver, CO came in first, while Phoenix, AZ came in last. The report assures Phoenix their water supply is safe, just below 99 other cities.

The quality of our tap water is just another reason to live, work and own a home in Montgomery. Are you a Montgomery home buyer needing assistance? Give us a call, 800-428-5239. We'll put our Team of specialists to work for you!

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