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Displaying blog entries 1591-1600 of 1997

Montgomery AL Real Estate Sales Statistics - August 2010

Thursday, September 23, 2010
by The Hat Team

Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery, according to the National Association of Realtors. The recovery looks to be a long process with job numbers being lower than expected in the last couple of months. However, affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates. The loan underwriting standards are tighter, but home buyers can improve their chances of getting a loan by staying well within their budget.

Take a look at how the Montgomery AL real estate market fared in August.

Montgomery AL real estate sales statistics for August show pending sales have decreased by 48% in 2010 compared to August 2009. The average sales price decreased by 2% to $134,119 while sold listings were down by 36% from 2009.  Market times decreased in 2010 by 4 days.

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

Aug 2010

33

27

104

$134,119

Aug 2009

64

42

108

$136,850

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: 6737 Ginger Court Montgomery, AL 36116

Thursday, September 23, 2010
by The Hat Team

Montgomery Real Estate For Sale: 6737 Ginger Court Montgomery, AL 36116

MLS#278446

This lovely garden home sits at the end of a quiet cul-de-sac on a pretty tree shaded lot. Like-new with fresh paint and new carpet, it is ready to move into. Manageable back yard is fenced for your pets and privacy and features a covered back porch for lounging or entertaining. Spacious master bedroom and split plan with guest bedrooms on opposite end of house.

Learn more about 6737 Ginger Court and other Montgomery Real Estate by visiting HatTeam.com. 

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Montgomery Real Estate For Sale:2556 Jasmine Road Montgomery, AL 36111

Tuesday, September 21, 2010
by The Hat Team

Montgomery Real Estate For Sale:2556 Jasmine Road Montgomery, AL 36111

MLS#278313 

Live like a Hollywood star in this unique home built around a courtyard and pool and said to be a replica of Andy Williams' winter home in Palm Springs. All rooms enjoy gorgeous views of sparkling water and/or a lovely flagstone patio, newly installed. From the gleaming black granite counters in the kitchen to the like-a-new-home expanded master bath to the indoor grill and icemaker in the butler's pantry/utility room, no expense has been spared to make you want this incredible house for your next home. Public spaces and amenities enable gracious entertaining, and the unusual design allows for extreme privacy when you desire. Owners' recent upgrades are extensive and will make your life in this home a trouble-free dream! Indulge yourself...see this one now and hold onto your heart!

Learn more about 2556 Jasmine Road and other Montgomery Real Estate by visiting HatTeam.com. 

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Changes Coming To FHA Mortgage Insurance Premiums

Thursday, September 16, 2010
by The Hat Team

Congress has authorized FHA to change the amount charged to borrowers for both the Up Front and the Annual Mortgage Insurance (MI) premiums. These changes as outlined in Mortgagee Letter 2010-28, are effective for all FHA case numbers assigned on or after October 4th, 2010.

Here are the six things you need to know about these changes if you are buying a Montgomery home:

  1. montgomery homeThe MI premium changes apply to purchases, regular refinances and streamline refinances only (reverse mortgages have different MI premium changes).

  2. The current Up Front MI premium is 2.25% of the loan amount and the new Up Front MI premium will be 1.0% of the loan amount for all standard FHA programs.

  3. The current monthly MI premium is .55% and the new monthly MI premium will be .90% if the Loan-to-Value is GREATER than 95% on 30 year loans. Since most buyers put only the minimum 3.5% down this applies to most loans.

  4. The current monthly MI premium is now .50% for Loan-to-Values EQUAL to or LESS than 95% on 30 year loans and the new monthly MI premium will be .85%.

  5. The Annual premium is now .25% for Loan-to-Values GREATER than 90% on 15 year loans.
  6. There is no monthly MI premium Loan-to-Values EQUAL to or LESS than 90% on 15 year loans.

FHA is still a fantastic loan program and appropriate for many Montgomery home buyers to qualify as FHA is more lenient on credit scores than conventional loans. The reduction in upfront MI (which is typically financed into the loan) is terrific since this was a big chunk of the down payment. However, the hike in the monthly MI will definitely make conventional loans with Private Mortgage Insurance more attractive again for those buyers who can qualify for either loan option.

Future Increases

This new law also gives FHA the authority to raise the Annual MI premium, at will, up to 1.5% for Loan-to-Values at or below 95% and 1.55% for Loan-to-Value more than 95%. If that were to occur, FHA loans would be far less competitive than conventional PMI.

If you have questions about the changes to the Up Front and Annual MI premiums and how it will impact your Montgomery home purchase or refinance, please feel free to give me a call so we can discuss over the phone.

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Montgomery Real Estate For Sale: 330 Finley Avenue Montgomery, AL 36104

Tuesday, September 14, 2010
by The Hat Team

Montgomery Real Estate For Sale:330 Finley Avenue Montgomery, AL 36104

MLS #278156

You get the best of both worlds in this recently and completely renovated Garden District home. If you love big rooms, high ceilings, turn of the century architectural features such as ceiling to floor windows and coffered ceilings, this one will definitely steal your heart. Plenty of room for your family and friends to spread out; from the oversized living room, to the front parlor, central gathering room, formal dining room, and of course the kitchen (typically everyone's favorite place to be.) In addition to a huge laundry/utility room there is a 12x7 pantry that's as large as most bedrooms (and could swing as home office or playroom for kids.) Downstairs master suite is awesome with huge walk in closet and a 12x15 bath that would make any "new construction" home envious. Ample room on the 2nd floor with 3 bedrooms a large full bath, and a recreation area at the landing. Off the Breakfast room is a nice private deck for grilling and lounging. Shared driveway leads to detached 2 car garage.

 

Learn more about 330 Finley Avenue and other Montgomery Real Estate by visiting HatTeam.com.

 

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Tips For Buying Montgomery Real Estate Foreclsoures

Thursday, September 9, 2010
by The Hat Team

Although the term “foreclosure” generally has a negative connotation, for many home buyers/investors the purchase of such a property can be attractive due to the discounted price. Because a foreclosure sale frequently is more time-consuming and often offers less buyer protection, it is necessary to take the following steps to assure that the process will go as smoothly as possible.

foreclosureIdentify foreclosure properties: First, check with a REALTOR who is familiar with such offerings in the Montgomery real estate market. Then ask your bank about any holdings they may have. A third source is the web. Simply enter REO’s and the name of a specific lender, such as Bank of America, Citibank, Chase, etc. Other available sites charge between $20.00 and $50.00 per month to search foreclosures on a continuing basis for potential buyers (see www.BankHomesDirect.com or www.RealtyTrac.com ).

Protect yourself:

  • Get a home inspection. Many foreclosed homes are in poor condition and may be without appliances and utility services. Often these properties have been vacant for long periods of time and have been damaged by poor weather conditions and no upkeep. The lender offering the home hasn’t lived in it and is therefore unable to make a full disclosure about its true condition. For these reasons, a complete inspection by a qualified professional is crucial.
  • Obtain title insurance. This will protect you from any unforeseen liens against the property or any claims by previous owners.
  • Hire an attorney. You will benefit from the expertise of a lawyer familiar with foreclosures. Legal services provided may include drawing up a contract with protective escape clauses or representing your interests in case of a dispute. Go to www.BestPropertyLawyer.com to find a Montgomery real estate attorney,
  • Use the services of a REALTOR experienced in dealing with foreclosures. A knowledgeable realtor will guide you through a sometimes complicated process, prevent you from making mistakes, and save you headaches and frustration.

Follow the requirements of the lender in a timely manner: Expect the lender to ask for a full disclosure of your finances; some may even require you to get mortgage approval from their institution. At the least you will have to supply proof that your financing is guaranteed. It is also recommended that you submit a clean offer, keeping in mind that most foreclosure properties are offered “as is” and at a 20%to 30% discount. Bargaining for a better deal may result in no deal at all.

Learn more about Montgomery real estate and foreclosures.

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Montgomery AL Real Estate Sales Statistics - July 2010

Friday, August 27, 2010
by The Hat Team

Pending home sales in June edged lower in contrast to the spring surge when buyers rushed to take advantage of the home buyer tax credit, according to the National Association of Realtors®.

The Pending Home Sales Index declined 2.6 percent to 75.7 based on contracts signed in June. Down from 77.7 in May, and is 18.6 percent below June 2009 when it was 93.0. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, said lower home sales are expected in the short term. “Over the short term, inventory will look high relative to home sales. However, since home prices have come down to fundamentally justifiable levels, there isn’t likely to be any meaningful change to national home values. Some local markets continue to show strengthening prices.”

Let’s take a look at the Montgomery AL real estate market for July.

Montgomery AL real estate sales statistics for July show pending sales have decreased by 5% in 2010 compared to July 2009. The average sales price increased by 3% to $134,969 while sold listings were down by 18% from 2009.  Market times increased in 2010 by 39 days.

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

July 2010

38

23

128

$134,969

July 2009

40

28

89

$131,554

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: 6729 Greenbrook Drive Montgomery, AL 36117

Tuesday, August 24, 2010
by The Hat Team

Montgomery Real Estate For Sale: 6729 Greenbrook Drive Montgomery, AL 36117

MLS #277630

Everything is updated, upgraded or new in this spacious townhome in Bellwood! The versatile living space downstairs can be used to fit any lifestyle. Don't miss the custom built shelving in the master walk-in closet. Relax on the covered patio in the beautiful private backyard. Just minutes from East Chase, East Blvd or AUM. Call us today for a personal tour.

Learn more about 6729 Greenbrook 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: 3423 Gilmer Court Montgomery AL 36105

Tuesday, August 24, 2010
by The Hat Team

Montgomery Real Estate For: 3423 Gilmer Court Montgomery AL 36105

MLS #277665

 

Roof 2 years old, wiring upgraded to breakers and brought to Code. Relatively new heat/air units and water heaters. New windows. Kitchens and baths have hard tile floors, remaining rooms are hardwood. Apt 1 converted to include handicapped accessible roll-in shower. All upgrades in place for use as a licensed group home.

Learn more about  3423 Gilmer Court and other Montgomery Real Estate by visiting HatTeam.com.

 

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Selling Montgomery Real Estate The Smart Way

Thursday, August 19, 2010
by The Hat Team

In today’s competitive housing market, buyers can afford to be selective. It is, therefore, up to the seller to anticipate the demands of the buyer and act accordingly. The ten strategies listed below will help you accommodate the buyer’s needs and make certain the selling of your Montgomery real estate is a succes.

montgomery real estate1. Price sensibly. Listing too high initially is doubly dangerous. Price-savvy potential buyers will simply bypass your home in favor of more realistically priced Montgomery real estate, thus limiting your market. In addition, you’ll have to lower your price eventually, possibly below market level, to capture their attention.

2. Utilize professional expertise. Far too many sellers come to regret their attempt to avoid a paying a sales commission when they are unable to generate widespread exposure on their own. To their dismay, they also find that potential buyers expect a far lower price on a FSBO.

3. Make needed repairs. Buyers want a home that is in good condition, up to date, and “move-in ready.” Be sure that all systems, the roof, appliances, etc., are in good working order and replace fixtures that look out-of-date.

4. Simplify the setting. Make room! Too much furniture makes rooms appear smaller, and too many accessories draw the buyer’s attention away from your home’s assets. De-clutter cupboards, counters, and other flat surfaces. Make space in your closets and storage areas, and allow for an open traffic pattern. Put away personal items. Buyers need to be able to visualize their own furniture and belongings in what could be “their” new home

5. Keep it clean! Odors and dirt are real turn-offs to potential buyers.

6. Provide curb appeal. The exterior of your home must invite buyers to come inside. Remove weeds, trim trees and bushes, present a healthy lawn, and maintain an attractive appearance at all times. Don’t forget power washing or repainting, if needed. Add a pot of colorful flowers and a new welcome mat for extra charm and a successful showing.

7. Allow for accessibility. The more showings of your Montgomery real estate you have, the greater the chance of a successful sale. Buyers want easy access to the homes they visit. Your realtor will help you make satisfactory arrangements for optimum availability, use of a lock box, advance notification, etc.

8. Stay away during showings. Buyers viewing your home need to take their time to thoroughly it and fee free to voice their reactions to the realtor. Also, if you’re not there, you can’t say anything which might hurt the prospect of a sale.

9. Avoid misrepresentation. Your realtor will advise you of local disclosure laws, and it is important that you comply with them. Attempts to hide a defect will only result in problems later on and may well derail a potential sale.

10. Be flexible. Selling you home can feel like a personal transaction, and sometimes emotions threaten to overshadow logic. Listen and react to all contract proposals as objectively as possible. Know in advance what your needs are re: price, which items convey, settlement time frame, etc. Try to keep in mind the big picture and resist getting hung up on the small things.

The sale of your home depends on both your realtor and you. By working as a team and utilizing the ten strategies outlined above, the process has a greater chance of being a productive and successful sale.

Learn more about selling Montgomery real estate.

Find out what your Montgomery real estate is worth?

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Displaying blog entries 1591-1600 of 1997

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