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Montgomery AL Foreclosure Trends for July 2014

Friday, September 5, 2014
by The Hat Team

In July, the number of properties that received a foreclosure filing in Montgomery, AL was 44% lower than the previous month and 44% lower than the same time last year, according to RealtyTrac.com.

Montgomery AL Foreclosure Status Distribution

The current distribution of foreclosures based on the number of active foreclosure homes in Montgomery, AL.

Auctions accounted for 57.4% of foreclosure activity in July 2014 and Bank-owned properties accounted for 42.6%.

montgomery al foreclosure

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties decreased 41.0% compared to the previous month and 54.0% from the previous year in July. The number of Auctions decreased 46.6% compared to the previous month and 36.6% from the previous year.

montgomery al foreclosure

Montgomery AL Foreclosure Geographical Comparison

Montgomery AL foreclosure activity was 0.02% lower than national statistics, 0.01% higher than Alabama numbers and the same as Montgomery County statistics in July 2014.

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!

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Cash Flow and Equity Build-up

Friday, September 5, 2014
by The Hat Team

Many years ago, Las Vegas hotels would entice customers with inexpensive rooms, meals and entertainment so they would gamble.  It may have worked initially but if you’ve been to Las Vegas recently, the bargains are gone.  Hotels expect each division to be a profit center on its own.  As a consumer, I might not like the changes but as an investor, I’d have to be pleased with increased profitability.

cash flowYears ago, real estate investors used to accept negative cash flow buoyed by tax incentives in hopes of making a big payday due to appreciation when they sold it.   Today’s investors are focusing on tangible, current results like cash flow and equity build-up.

Cash flow is the amount of money you have left over after collecting the rent and paying the expenses.  Since rents have gone up considerably due to supply and demand in the last few years and mortgage rates are at near record lows, income is up and expenses are down, making the cash flows attractive.

If the cash flow is sufficient, you could have a good investment even if the value of the property never increased.  Cash on Cash doesn’t consider appreciation and measures the cash flow before tax advantages by the initial investment.  A rental with $3,170 CFBT divided by an initial investment of $29,000 would generate a 10.93% Cash on Cash rate of return.

Low down payments on investor properties are also a thing of the past.  Non-owner occupied mortgage money is available but the investor should expect to put down 25-30%. An advantage of having a smaller mortgage is a lower payment.

Most mortgages are amortized loans with both principal and interest due with each payment.  The forced savings of the principal contribution builds equity in the property and can be considered a part of the rate of return.

A $100,000 mortgage at 4.5% for 30 years would have $1,613.29 applied to principal in the first year.  Divide that by the same $29,000 initial investment and the amortization would generate another 6%.

Without factoring in appreciation or tax advantages, this rental example generates much more than most alternative investments.  There certainly are many different aspects that affect the risk and return on rental investments.  If you haven’t scrutinized single-family rental opportunities in a while, you should look again.

Information courtesy of Sandra Nickel, Sandra Nickel HatTeam Realtors in Montgomery, Alabama.

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Montgomery AL Home for Sale: 1813 Winona Ave

Thursday, September 4, 2014
by The Hat Team

Montgomery AL Home for Sale:

1813 Winona Ave, Montgomery AL 36107
MLS# 312001

Picture Perfect Restoration!

1813 winona ave
WOW! Impeccable complete and total restoration in historic Capitol Heights! Get the old house charm but absolutely everything is brand new. From the large front porch to the gorgeous hardwood floors, magazine quality kitchen and baths and huge deck overlooking shaded back yard, it's simply picture perfect. Check out this fabulous home today.

Marketed by Sandra Nickel, Sandra Nickel Hat Team, Montgomery Alabama Realtors.

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Montgomery AL Real Estate: 1229 Autumn Ridge Road

Tuesday, September 2, 2014
by The Hat Team

Montgomery AL Real Estate For Sale:

1229 Autumn Ridge Road, Montgomery AL 36117
MLS# 311881

Neat As A Pin And Ready To Move In!

1229 autumn ridge road
One of the largest plans in Halcyon Summit! This home is well maintained and ready to move into. Popular split design puts master bedroom on one side of the house, and two larger guest rooms on the other side. 4th bedroom could also be study/office/nursery. If you have lots of belongings, or enjoy separate living areas, this might be the floor plan for you with a living room, dining room, and a den/family room off the kitchen. Pretty backyard with mature trees providing shade has covered patio. And, from the covered front porch area, you have a great view of the "lake" and fountain across the street (and peaceful canal runs beside the property!). Neat as a pin, clean, neutral colors, and ready to be YOUR next home.

Marketed by Sandra Nickel, Sandra Nickel Hat Team, Montgomery Alabama Realtors.

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Montgomery AL Home for Sale: 1569 College St

Thursday, August 28, 2014
by The Hat Team

Montgomery AL Home for Sale:

1569 College St, Montgomery AL 36106
MLS# 311591

Mid-Century At Its Best!


Mid-century contemporary architecture at its best! Completely renovated several years ago to include a gourmet kitchen with slab granite island, modern style cabinetry, stainless steel professional appliances, tongue and grove ceiling, deep stainless sink, Recent $12,000 renovation to master bath that you will not believe! There are 9' and vaulted ceilings in the great room and dining room and two fireplaces. Very open plan ... with walls of glass through-out giving a beautiful private view of the lush landscape. This truly unique home was once the residence of a noted Montgomery architect… you will not find another home like this in the historic district and on a quiet cul-de-sac directly across from Huntingdon. Must see if "Mad Men" modern is what you seek!! If a third bedroom is a must, small den could easily be converted. Call us or your favorite agent for a viewing today!

Marketed by Sandra Nickel, Sandra Nickel Hat Team Realtors, Montgomery Alabama.

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Montgomery AL Home for Sale: 3547 Warewingwood Dr

Monday, August 25, 2014
by The Hat Team

Montgomery AL Home for Sale:

3547 Warewingwood Dr, Montgomery AL 36109
MLS# 311741

What A Deal!

3547 warewingwood dr

What a deal in the Dalraida school district! Here is an adorable, move in ready home that's perfect for a first time home buyer or an investor! Updated kitchen with new counter-tops and back-splash that's open to a sunroom. The hard wood floors are in great shape and the third bedroom above the garage has laminate flooring. Check this out today, at this price it won't last long!

Marketed by Sandra Nickel, Sandra Nickel REALTORS, Montgomery Alabama.

 

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Tips for Adding Value to Your Home

Friday, August 15, 2014
by The Hat Team

In today's economy many potential buyers don't have extra cash available for repairs and updates and are looking for move-in ready houses.  It makes sense, therefore, in order to attract serious buyers and add value to your home, that you consider the following relatively inexpensive and non-time-consuming improvements:

adding valueInterior updates:

  • If you can’t replace the water heater with a tankless model, wrap the one you have in fireproof insulation.
  • Install modern light switches and outlets throughout your home.  Add dimmer switches.
  • Insulate windows.  (Easy-to-follow instructions.)
  • In bathrooms replace dated towel racks, light fixtures, sinks, toilet seats, and hardware.  Purchase a low flow toilet.  Re-grout where needed.  If the floor is in poor shape, consider putting easy-to-install vinyl tiles right over the old one.
  • Add crown moldings, wood trim, and/or cornices to give room a look of quality.
  • Update your kitchen inexpensively by replacing fixtures, faucets, and hardware.  Consider pendant lighting.  Refinish cabinets rather than replacing them.
  • Clean and organize all closets.  For helpful free and/or inexpensive designs created for your particular needs, visit Closet Maid.

Exterior improvements:

  • Keep shrubs and trees neatly pruned.  Plant new trees for energy savings and aesthetic value.
  • Add low-voltage lighting for pathways
  • Pay attention to the front door.  Does it need new weather stripping?  A fresh coat of paint? Updated (or at least polished) hardware—knockers, knobs, hinges, and light fixtures?
  • Spend $10 to test your lawn for needed nutrients.
  • Attend to the garage door.  Use a mixture of one part bleach to three parts water and a soft-bristled brush to give it a thorough cleaning.  Still dirty or stained?  Rent a power washer for about $60.
  • Check for faded or peeling paint.  Sand and apply a fresh coat.

Real estate gurus will tell you that the wisest updates you can make are in the kitchen and the bathroom.  (Not only are these rooms of high importance to buyers, those updates will add the most value and give you a good return on your money.)  Check BankRate.com and DIYnetwork.com for suggestions and good advice on the benefits of more ambitious projects for adding value.

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.

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Montgomery AL Home for Sale: 740 Felder Avenue

Friday, August 15, 2014
by The Hat Team

Montgomery AL Home for Sale:

740 Felder Avenue, Montgomery AL 36106
MLS# 311164

Rich and Elaborate Detailing!

740 felder ave

Fabulous Felder among large 400k+ estate type homes! Walking distance to parks, restaurants, and more. This large scale circa turn of the last century home is believed to be one of the first few built in Old Cloverdale. Tax record indicates a 1925 build, believed to be more like 1915. The rich and elaborate architectural detail sustains that claim. Priced at less than $125k will leave you room for all the renovation dollars needed to bring this fine old home back to its glory days! Not for the faint of heart, as this home needs a major renovation, but priced accordingly. Please call us or your favorite agent to see today!

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.

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Montgomery AL Home for Sale: 1548 College Court

Tuesday, August 12, 2014
by The Hat Team

Montgomery AL Home for Sale:

1548 College Court, Montgomery AL 36106
MLS# 311293

Rocking Chair Front Porch & Private Garden!

1548 college court
Location, Location, Location, walk to the Capri, Montgomery's only independent theater, Cloverdale Playhouse, and one of the areas many restaurants / hot nightspots. Not too often does a home come available on this well-kept one block dead end street! It's the kind of street where the neighbors have a key to your house and that's a good thing! Third large room with closet and fireplace could easily be third bedroom or den! Visit neighbors from your old fashion front porch and garden in your private backyard. If uneven floors and a fair amount of cosmetics are a concern, you may have to find another. If not, this could be one of the best and least expensive homes Old Cloverdale has to offer. Recent new roof and exterior paint. Call us or your favorite agent to see today!

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

How Was It Measured?

Monday, August 11, 2014
by The Hat Team

In an attempt to compare homes, one of the common denominators has been price per square foot.  It seems like a fairly, straight forward method but there are differences in the way homes are measured.

measuring tapeThe first assumption that has to be made is that the comparable homes are similar in size, location, condition and amenities.  Obviously, a variance in any of these things affects the price per square foot which will not give you a fair comparison.

The second critical area is that the square footage is correct.  The three most common sources for the square footage are from the builder or original plans, an appraisal or the tax assessor.  The problem is that none of sources are infallible and errors can always be made.

Still another issue that causes confusion is what is included in measuring square footage.  It is commonly accepted to measure the outside of the dwelling but then, do you include porches and patios?  Do you give any value for the garage, storage or other areas that are not covered by air-conditioning?

Then, there’s the subject of basements.  Many local areas don’t include anything below the grade in the square footage calculation but almost everyone agrees that the finish of the basement area could add significant value to the property.

Accurate square footage matters because it is used to value homes that both buyers and sellers base their decisions upon.

Let’s say that an appraiser measures a home with 2,800 square feet and values it at $275,000 making the price per square foot to be $98.21.  If the assessor reports there are 2,650 square feet in the dwelling and the owner believes based on the builder, there is 2,975 square feet, you can see the challenge.

If the property sold for the $275,000, based on the assessor’s measurements, it sold for $103.77 per square foot and by the owner’s measurements, it sold for $92.44 per square foot. Depending on which price per square foot was used for a comparable, valuing another property with similar square footage could have a $30,000 difference.

The solution to the dilemma is to dig a little deeper into where the numbers come from and not to take the square footage at “face value”.  It is important to recognize that there are differences in the way square footage is handled.

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

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