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Displaying blog entries 61-70 of 199

Montgomery Real Estate For Sale: 3224 Le Bron Avenue

Tuesday, November 17, 2009
by The Hat Team

   Montgomery Real Estate For Sale:

  3224 Le Bron Avenue Montgomery, AL

   MLS# 269524

 

Looking for a private getaway in a true master SUITE? This adorable Cloverdale cottage has just that! Put the kids downstairs in two spacious bedrooms with room to play, and head off to the second floor "parents" retreat. With sitting area, large bedroom area, renovated bath, home office/study "nook" and 5 closets (one is large walk-in and one is cedar lined!)it is a true "en suite!" Back on the main level, there is a comfortable living room and dining room. If spending time outside is your thing, you will enjoy countless hours on the covered side porch and large wrap-around deck. With ample parking on the side and rear, you still have plenty of yard for the kids to play. Architect owner has maintained and upgraded this home since 2001, and now it is YOUR turn to enjoy all the work that has been done. Don't forget all this is within a few blocks of beautiful parks and some of the city's best dining and entertainment.

 

Learn more about 3224 Le Bron and other Montgomery Real Estate by visiting HatTeam.com.

 

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Montgomery Real Estate Appraisal Myths Debunked

Thursday, November 12, 2009
by The Hat Team

A real estate Appraisal is not the same thing as a Comparative Market Analysis (CMA). A real estate Appraisal determines the market value of the property, which is an estimate of the sale price of the house. An Appraisal is mandatory when you are borrowing money from a lender to purchase a home. An Appraisal is done by a specially trainmontgomery real estateed and experienced individual known as an appraiser. 

On the other hand, a Comparative Market Analysis is used to determine a reasonable asking price based on the selling and listing prices of comparable real estate. This is conducted by the real estate agent listing the property. The sole purpose of a CMA is to help the real estate agent advise the sellers when trying to come up with an appropriate asking price. This is different from an appraisal because a Comparative Market Analysis helps determine the actual asking price, where as the appraisal reveals the property's actual value. Appraisers usually use similar research on comparable properties as a factor in determining the property value. 

Here are some myths and facts to help you lean more about the Appraisal of your Montgomery real estate. 

1. Myth: Some people may think that making sure the buyer does not overpay is the main goal of an appraisal. 

Fact: People buying and selling real estate can gather resourceful information from an appraisal. However, the appraiser's intended purpose is to provide protection for lenders. An Appraisal is required before the lender approves a buyer's loan. 

2. Myth: Appraisers determine the property value by multiplying the price per square foot by the square footage of the property. 

Fact: Appraisers determine the value of the Montgomery real estate by other characteristics too. Things they take in to consideration include the location, proximity to desirable destinations, school districts, quality and condition of the property, selling prices of comparable real estate, and other relevant qualities. 

3. Myth: Anyone involved in real estate could conduct Appraisals. 

Fact: States regulate the requirements for Appraisals to obtain a license. Obtaining a license usually includes taking courses, passing an exam, and possible hours of experience. 

4. Myth: There is never an obligation to educate buyers on problems with the home found by the appraiser. 

Fact: The appraiser is required to notify buyers of problems when the buyer is applying for a mortgaged insured by the Federal Housing Administration. For other types of mortgages, the appraiser is not required to disclose potential defects. 

5. Myth: If an Appraisal is done there is no need to obtain a home inspection on your Montgomery real estate. 

Fact: As mentioned earlier the purpose of the Appraisal is to protect the lender. This does more for the people selling the Montgomery real estate. Where as, home inspections are meant to educate buyers on the state of the home and its major elements. 

Get a no obligation Comparative Market Analysis on your Montgomery real estate.

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Montgomery Real Estate Sales Statistics - September 2009

Thursday, October 29, 2009
by The Hat Team

Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5.

Lawrence Yun, NAR chief economist, said not all contracts are turning into closed sales within an expected timeframe. "The rise in pending home sales shows buyers are returning to the market and signing contracts, but deals are not necessarily closing because of long delays related to short sales, and issues regarding complex new appraisal rules," he said. "No doubt many first-time buyers are rushing to beat the deadline for the $8,000 tax credit, which expires at the end of next month."

Let’s take a look at the September sales statistics to see how the Montgomery AL real estate market looks: 

Montgomery AL real estate sales statistics for September show pending sales decreased by 30% in 2009 compared to September 2008. The average sales price decreased by 39% to $89,614 while sold listings were down 8% from 2008.  Market times remainded consistent with 2008. 

It is important to note that 15 of the closed sales were foreclosures at an average price of $33,853.  With these 15 sales removed from the total, September 2009's average sales price was $148,394, a slight increase over 2008.

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

Sept 2009

35

34

84

$89,614

Sept 2008

50

37

84

$147,114

Investors are snapping up foreclosures because they believe that prices have hit bottom and they are eager to build their portfolios before the anticipated recovery.

Remember, there are only a few weeks left to benefit from the $8000 first-time home buyer tax credit. Give us a call to make your dream home a reality!For the latest Montgomery AL 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. 

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Montgomery Real Estate For Sale: 1272 S Lawrence St, Montgomery AL 36104

Monday, October 26, 2009
by The Hat Team

   Montgomery Homes For Sale:

   1272 S Lawrence Street, Montgomery AL 36104

   MLS #265600

  

 

Classic Garden District bungalow with a punch! This home's large light filled rooms boast hand burnished Venetian plaster on the walls and ceilings. Gleaming rich looking hardwood floors throughout make it pet and allergy friendly. Never worry about painting or replacing rotten wood...the siding is metal and the front porch is concrete! Nicely landscaped back yard has patio, plenty of parking and turn around space, and USABLE detached 1 car garage. Come see this one before it gets bought out from under you!

 

Learn more about 1272 S Lawrence Street and other Montgomery Real Estate by visiting HatTeam.com.

 

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Montgomery Real Estate For Sale: 1314 S Hull Street

Monday, October 26, 2009
by The Hat Team

   Montgomery Real Estate For Sale

   1314 S Hull Street Montgomery, AL 36104

   MLS# 263041

 

 

Potentially wonderful and currently acceptable triplex in Montgomery's historic Garden District. 1314 occupies entire first floor and is over 1500 sq ft including living room with decorative fireplace, formal dining room, breakfast room, modern kitchen, sunroom, laundry room, 2 bedrooms, 1 bath. Each charming upstairs unit (1316A&B) has living room, breakfast room, modern kitchen, 1 bedroom, 1 bath. All have front porches and rear balconies--just the kind of thing historic neighborhood tenant’s desire. And a wonderful place to enjoy the peal of the church bells from The Ascension, just down the block. Off-street parking at rear for 4 or more cars. Tenants pay all utilities except water/trash for 1 bedrooms, paid by owner. Price reflects bare minimum we believe lender will accept on short sale.

Learn more about 1314 S Hull Street and other Montgomery Real Estate by visiting HatTeam.com.

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Montgomery Real Estate for Sale: 2185 Woodley Road

Saturday, October 24, 2009
by The Hat Team

Montgomery Real Estate for Sale:

2185 Woodley Road, Montgomery AL 36111
MLS# 268951

montgomery real estate

Buy this lovely lot and get a house for free! While most of the value is in the land, your purchase will include a 3000 sq ft Cape Cod that could become a lovely home. Bring your architect, designer or contractor and see how you can make your dream come true!

 

Learn more about 2185 Woodley Road and other Montgomery real estate by visiting HatTeam.com.

 

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Are the Increasing Interest Rates Rushing your Closing Date?

Friday, October 23, 2009
by The Hat Team

Buyer's often find themselves watching a property for a price reduction. Although getting the best deal possible when purchasing Montgomery real estate is important, it is not the only factor that determines monthly payments on a home. Rising interest rates nearly diminish the positive aspects of waiting for prices to drop. montgomery real estate

Most people are familiar with the basic trends in real estate that have been affected by the United States economic crisis. The listing prices of homes have been steadily declining over the past couple years. This has put people looking to purchase Montgomery real estate at an advantage over those trying to sell. People have best described this as a buyer's market due to the low property prices and reasonable interest rates. However, the decline in prices is stabilizing while interest rates are beginning to inch up. It is becoming more and more popular for investors to make offers on properties, sometimes sweeping the property away from home buyers. Could buyers begin loosing their advantage? Today, properties that are correctly listed at a reasonable asking price are not being reevaluated and reduced as often. These are some of the factors that prove lower Montgomery real estate prices are not always worth the wait. 

Buyer's should not be waiting for interest rates to continue declining, especially since real estate and economy experts are predicting that the lowest rates have come and gone. This is not necessarily a horrible thing. Rates are still lower than historical highs, which exceed 6.00%. With the new administration trying to bring back the economy, many analysts see a period of severe inflation in our future. Meaning interest rates are likely to jump even higher. The Federal Reserve introduced a program to help control interest rates on home loans. For example, the rates for a thirty year fixed-rate loan have been consistently ranging from 4.50% to 5.00%. Now, rates for this type of loan and the rates of other types of real estate loans are beginning to exceed their more reasonable range. Therefore, increasing interest rates may start rushing your desired closing date. 

At the end of May buyers, who have been procrastinating by waiting for lower interest rates or price reductions, learned their lesson the hard way. At the end of the month interest rates went up about .50%-1.00%. Increasing interest rates defeats the purpose of waiting for [city] real estate prices to drop. Higher interest rates decrease the overall affordability and increase the monthly payments, especially when the price of the desired home does not budge. 

Bottom line, it is not a time to be waiting around. Time is running out to take advantage of the current real estate market and loan programs being offered by the government. For instance, first time home buyers have until December 1st, 2009 to close on their home if they want to be eligible for a maximum tax rebate of $8,000 dollars. Since interest rates are expected to increase, waiting for real estate prices to drop is not worth the wait. Don't procrastinate. You might unintentionally pass up a piece of gold trying to find a diamond. 

Search all Montgomery real estate and homes for sale by visiting HatTeam.com.

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Montgomery Real Estate For Sale: 3410 Ridgefield Drive

Friday, October 9, 2009
by The Hat Team

   Montgomery Real Estate For Sale:

   3410 Ridgefield Montgomery, AL

   MLS#266107

 

 

Feast your eyes and pamper your pocketbook! This up-to-date Vaughn Meadows beauty boasts gorgeous views virtually everywhere you look. And generously proportioned rooms make it ideal for entertaining friends or extended family. Cook up a storm in the well-designed kitchen with double ovens for that holiday feast. Grill out on a shady covered patio overlooking the lushly landscaped yard. Empty your rented storage into two immense walk-in storage closets. Save time, too, because you're only moments from shopping and the interstate. All for less than you'd pay in rent so put this one on your must-see list!

 

Learn more about 3410 Ridgefield Drive and other Montgomery Real Estate by visiting HatTeam.com.

 

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Buyer’s Remorse: A Common Feeling When Purchasing Montgomery Real Estate

Wednesday, October 7, 2009
by The Hat Team

According to Realestate.com, buyer's remorse is one of the top ten mistakes made when purchasing a home. Finding the perfect home and making the decision to buy a home are not easy tasks. First, you spend hours on the computer researching Montgomery real estate and neighborhoods, perfecting your search criteria on MLS websites, and viewing many virtual tours.  Then, you begin making appointments to go take a look at the ones you think stand a good chance at being the future home of your family. As you walk through the house you envision the happy life you and your family would live and the future décor for this room and that room. You see houses that "require too much work," "don't have enough storage," ones that are "too small" or maybe even one that is "do-able but not perfect." Finally after weeks or even months of searching, you find "THE house." Now you send in a promising offer and anxiously wait for feedback. You and seller come to an agreement and the offer is accepted. Once the papers are signed you can relax and enjoy the excitement, right?montgomery real estate

Wrong! Shortly after signing the agreement many people experience buyer's remorse. When a person begins to have feelings of doubt about their decision it is known as buyer's remorse. The feelings of doubt are also accompanied by stress and anxiety. What if this is not the right decision? Am I getting a fair deal? Is this the right house for me and my family? What if there is something better out there? Questions start invading the committed buyer's mind causing them to become hesitant and loose confidence in their decision. This worrisome state of mind, known as buyer's remorse, is becoming more common in purchasing Montgomery real estate.           

There are several ways to avoid buyer's remorse when purchasing Montgomery real estate. The biggest worry people have when experiencing buyer's remorse is finances. Buyer's often worry about whether they will be able to comfortably afford their soon to be home. In order to prevent this from being a problem make sure that you have chosen a good price range that takes all of your other expenses into consideration. The appropriate price range may not include the maximum amount you are approved for; however it is very important not to exceed your set amount. The second biggest part of buyer's remorse is being satisfied with the house. People experiencing buyer's remorse second guess their choice in a home. They begin to believe that the chosen home may not be the best one that is out there. Before you started looking for a home you probably made a list of things you were looking for. Take this list of things you were looking for in a home and see how many of the things match up with the characteristics of the house that was purchased. If most of the things match up, especially the most important ones, then there shouldn't be any second guessing. If they aren't comparable, then try to figure out why the compromises were made and if they still make sense. 

For more ways to manage buyer's remorse and tips for home buying visit HatTeam.com.

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Montgomery Real Estate For Sale: 437 S Highland Court

Sunday, October 4, 2009
by The Hat Team

  Montgomery Real Estate For Sale:

  437 S Highland Court, Montgomery AL 36104

  MLS# 268398

This house is bound to be Montgomery's best bungalow! This home boast incredible detailing throughout like lovely heart pine floors, doorways with transoms and four decorative fireplaces...all the stuff that you as an old house lover appreciate.  There is a wonderfully cozy inglenook in the living room and a huge formal dining room with a butler's pantry.  The kitchen has been updated and comes fully equipped, there is also a built-in. The homes original bath room is home to your very own claw foot tub.  And all of these great little details come at a price well within your budget. This great bungalow sits on a quiet dead-end street!

Learn more about 437 S Highland Court and other Montgomery Real Estate by visiting TheHatTeam.com

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Displaying blog entries 61-70 of 199

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