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Displaying blog entries 1521-1530 of 1998

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.

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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.

 

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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.

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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.
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Montgomery AL Foreclosure Trends - March 2011

Thursday, May 5, 2011
by The Hat Team

There were 1,420 Montgomery AL foreclosure homes for sale with 243 new foreclosures in March 2011. The average selling price of a Montgomery AL home was $136,478 and the average foreclosure selling price was $101,691 a $34,788 savings, according to RealtyTrac.com.

Montgomery AL Foreclosure Activity and 30 Year Interest Rate

Montgomery interest rates averaged 4.84% in March while the number of foreclosed homes increased from 150 in February to 228 in March.

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 foreclosure activity was 0.05% higher than national statistics. 0.12% higher than
Alabama statistics for the month of March.

montgomery al foreclosure

Montgomery AL Foreclosure Activity by Month

The number of Bank-Owned properties increased from 43 homes in February to 151 in March. The number of Auctions decreased from 112 to 92. 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.

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Montgomery Real Estate For Sale:715 E Fairview Avenue Montgomery, AL 36106

Tuesday, May 3, 2011
by The Hat Team

Montgomery Real Estate For Sale:715 E Fairview Avenue Montgomery, AL 36106

MLS#283901 

Classic Lockwood design! You will find more than meets the eye in this beautiful Old Cloverdale home. With almost 3,000 square feet, you and your family will have plenty of space for living and entertaining. Big country sized kitchen will be a favorite gathering place, and the formal dining room is big enough for large-style dinner parties. A traditional master bedroom is located downstairs along with two other large bedrooms connected by a jack-and-jill bath. Upstairs there is a large bedroom with a huge walk-in closet, and a bonus room beyond the closet, which would make a great master retreat suite (and currently one of the coolest play-spaces you have ever seen for two lucky kids!) Also upstairs is a huge office/study with tons of built-in bookshelves and a custom built desk/work area. Storage will not be an issue, as there are three more walk-in closets upstairs, one is even cedar lined. And, off the side kitchen door there is a wrap around deck overlooking an oversized pool and spacious shady play area beyond. So much for the price, this one is certainly one of the best values in the area, and is move-in-ready!

Learn more about 715 E Fairview Avenue and other Montgomery Real Estate by visiting HatTeam.com. 

Search all Montgomery Real Estate and homes for sale.

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Montgomery Real Estate For Sale: 4336 Hillside Oaks Montgomery, AL 36109

Monday, May 2, 2011
by The Hat Team

Montgomery Real Estate For Sale: 4336 Hillside Oaks Montgomery, AL 36109

MLS#282795

Move on over to easy street! Find easy care and easy maintenance in this cute-as-a-button patio home on an ever-so-quiet street right off the Atlanta Highway. Ready to move into, this home has new carpet and fresh neutral paint throughout. Living/dining combo with fireplace overlooks small shady back yard. If you like to be outdoors, there is a big covered patio off the back, as well as detached storage/workshop. Whether just starting out, or looking to downsize, this one is sure to please.

Learn more about 4336 Hillside Oaks and other Montgomery Real Estate by visiting HatTeam.com. 

Search all Montgomery Real Estate and homes for sale.

 

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Montgomery Real Estate For Sale: 3549 Audubon Road Montgomery, AL 36111

Friday, April 29, 2011
by The Hat Team

Montgomery Real Estate For Sale: 3549 Audubon Road Montgomery, AL 36111

MLS #283771

Custom quality at a bargain basement price! Built for a prominent Montgomery family and no expense spared at that time. Today you'll enjoy wonderful spaces and lots of upgrades at a price you'd normally pay for a lot less house in an inferior location. Wood and hard tile floors, unbelievable kitchen storage space, his-n-hers walk-in closets in the master bedroom and a yard to warm a beauty-lovers heart. All for as little as $4,900 down and around $825 per month plus taxes and insurance (4.875% FHA). Can't beat this for quality and space so call now!

Learn more about 3549 Audubon Road  and other Montgomery Real Estate by visiting HatTeam.com. 

Search all Montgomery Real Estate and homes for sale.

 

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Montgomery Real Estate For Sale: 3225 Cloverdale Road

Friday, April 29, 2011
by The Hat Team

Montgomery Real Estate For Sale:

3225 Cloverdale Road, Montgomery AL 36106

MLS# 283791

Cute cottage with a few surprises! This charming home is ready for a buyer who wants to do nothing more than move in and start enjoying living the Cloverdale lifestyle. Large living and dining rooms are perfect for entertaining, and the newly updated kitchen with granite countertops will be a dream to cook in. True master bedroom with en suite bath overlooks rear deck and large back yard. Speaking of, if you have several cars or like restoring or collecting vintage autos, you will love the 4-bay "garage-mahal" out back with additional +-1,000 sq ft of walk-up floored attic storage. The outdoor "kitty cage" will delight cat lovers (and their cats) and would make a perfect bird and squirrel-proof garden area. Located just a block from Cloverdale Bottom Park, and within easy walking distance to Cloverdale's dining and entertainment district.

Learn more about 3225 Cloverdale Road and other Montgomery real estate by visiting HatTeam.com.

Search all Montgomery real estate for sale.

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Montgomery AL Real Estate: Understanding Shadow Inventory

Thursday, April 28, 2011
by The Hat Team

Shadow inventory is the number of foreclosed properties currently owned by banks (or will be owned in the future) that are sitting empty and are not currently for sale. 

Many analysts use the “tip of the iceberg” analogy to describe the 'shadow inventory' situation, feeling that a massive number of distressed properties and underwater loans sits just below the surface. Some believe that the number of potential homes for sale greatly exceeds the number currently on the market. No significant appreciation of Alabama real estate and home prices will take place until the shadow inventory that exists works its way through the real estate market.

The map below shows the number of months it would take to clear the shadow inventory by state. The months’ supply is estimated by dividing the shadow inventory and the monthly number of distressed sales. As you can see, Alabama has 8 months of shadow inventory to contend with.

 

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

Midtown Montgomery real estate sales statistics for March show the average sales price decreased by 2% to $135,457 when compared to March 2010.  The number of homes sold decreased by 47% in March.  The median sales prices decreased by 8%, while market times decreased 34% or 65 days.  The highest selling home price decreased by 26%, and the lowest selling home price decreased by 50%.

Midtown Montgomery March 2011 March 2010
Homes Sold 20 38
Average Selling Price $ 135,457 $ 138,275
Median Selling Price $ 120,500 $ 130,500
Days On The Market 129 194
Highest Selling Price $ 350,000 $ 470,000
Lowest Selling Price $ 4,500 $ 9,000

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.

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Displaying blog entries 1521-1530 of 1998

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