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Displaying blog entries 1821-1830 of 1998

Montgomery Real Estate For Sale: 1569 College Court

by The Hat Team
Montgomery Real Estate For Sale:
1569 College Ct.
Montgomery, AL 36106
Mid-century modern architecture at its best. Completely renovated to include gourmet kitchen with granite island, modern style cabinets, stainless steel professional appliances, tongue & groove ceiling, deep stainless steel sink. This home has a new roof, new carpet, inside and exterior paint. The living room has 9' ceilings and vaulted ceiling. Very open floor plan with walls of glass overlooking your very private, lush landscape. This truly unique home was once the private residence of a noted Montgomery architect, one you won't find anywhere else in the historic district. This home is located in the historic Old Cloverdale district on cul-de-sac across from Huntingdon College. You must get inside to appreciate the many amenities and showing is easy.

Learn more about 1569 College Court or other Montgomery real estate at HatTeam.com or give us a call, 800-428-5239.

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Montgomery Homes For Sale: 2800 Hermitage Drive

by The Hat Team
Montgomery Homes For Sale:
2800 Hermitage Dr.
Montgomery, AL 36111
Come and visit the Gay Meadows community in Montgomery. A neighborhood of large lots, huge trees and is conveniently located in Midtown. This wonderful ranch has a lot to offer with spacious rooms, especially the family room, sunroom with removable window panels, and even a 1/2 bath off the carport. The corner lot location of this house is approximately 3/4 acres so your neighbors are not right on top of you. The special features start with the leaded glass front door, to the built in drawers and desk in the bedrooms. The seller is only the 2nd owner of this lovely home. There is no carpet, only gleaming hardwood floors in most of the house and Parquet floors in the den. Click on the photo for interior photos and an analysis of why it is cheaper to own this house than to rent this home.

Learn more about 2800 Hermitage Drive or other Montgomery real estate at HatTeam.com or give us a call, 800-428-5239.

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Montgomery Real Estate For Sale: 284 Pinewood Drive

by The Hat Team

Montgomery Real Estate For Sale:
284 Pinewood Dr. Millbrook, AL  36054

Fun, casual living in this Grandview Pines home with a cool open floor plan! Spacious great room with corner fireplace that is open to kitchen with breakfast bar large enough for 6! Large corner lot and deep backyard allows for kids and adults to play. Newly painted inside and fresh carpet, make this one ready to move into. And, at under $100,000 for 3 bedrooms, 2 baths, AND 1 car garage, you can't go wrong.

Learn more about 284 Pinweood Drive or other Montgomery real estate at HatTeam.com or give us a call, 800-428-5239.

Making the Most of the Montgomery Real Estate Market

by The Hat Team

Making the Most of the Montgomery Real Estate Market:

The Economy, Your Home, Our Commitment

We’ll continue with what some consider our strict requirement that buyers be preapproved before we even show them a house, and that sellers take the front-end steps to prepare for a sale by discovering all infrastructure areas that need to be addressed before an offer ever comes to your table. We call it a “smooth move,” and it’s saved scores of sellers from a
delayed closing or even a canceled offer, which the buyer can legally opt out of when something unexpected is discovered. We’ll encourage sellers to make their houses more saleable by addressing curb appeal and recommending actions which stage the house to appeal to the largest number of prospective buyers.

In short, we’re in this for the long haul. We’ve faced up and down markets before. We’ve worked hard to earn the trust of our clients. And we’re not going to sit back and expect someone else to bail us out. If you’re tired of real estate agents telling you there’s nothing they can do about it; if you’re fed up with those who simply list your house and sit back and wait for someone else to sell it; or if you’re not going to let the media scare you from pursuing your dream of selling or
buying your home, then perhaps it’s time to sit down for a visit to discuss what The Hat Team will do for you. When you first meet with us, know we’re not going to force you to do anything. If you sign a contract to hire us to act as your agent and you don’t like the way we’re handling
your property, you can fire us. After all, you hire us to represent your best interests in buying or selling your most important investment—your home, and you’d expect us to complete the job and keep you well informed. Our goal is your goal because we don’t get paid until you get paid.
So don’t sit around waiting for change. You’ll likely be disappointed and miss out on once-in-a-lifetime opportunities. You can move in a down market, saving much more on your new larger home than you’d ever lose on the sale of your current smaller one. And great builders are willing to talk trade-in on your current home to make the process even easier! Ask us about trading
up to a brand-new Prestige-built home in Crenshaw Close; or any one of TH Taylor’s four new homes in Grove Park and Beauvoir. Those who wait will be sadly mistaken. Those who do nothing will be missing out on a great opportunity to own a home at reasonable prices, or
sell their existing one. It’ll be a rough marketplace for some time yet and we, the Realtors, the lenders and the dozens of people who participate in the process of preparing your home for sale
and getting it to the table for a completed sale, have to work very hard to re-earn the trust of the American homebuyer. That we will do!

So, give us a call and let’s talk. You’ll find our knowledge about the housing market is superb, and you’ll learn that we work as a true team unlike any other Realtor group in this area. Don’t sit around and fret. Call now to set up a time to meet at your convenience. We’ll give you our best view of the current situation based on our extensive network of experts. It may not be as bad as you imagine. When the time comes to sell or buy, we’ll be honored to interview for the job. You’ve got enough stress in life not to worry about the many details of selling or buying your home.

Learn more about Montgomery real estate at HatTeam.com.

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The Economy, Your Home, Our CommitmentEveryone knows the economy has taken a big hit, the availability of money has been tightened and the government has stepped in to take a number of poor mortgage loan decisions off the books of major lenders. But, what you may not know is that if you have decent credit, mortgage
money is available, interest rates are low and there are opportunities to take advantage of great home prices.

The inventory of available homes, almost everywhere, is abundant. In the greater Montgomery area, it’s larger than what’s needed for more than 10 months. Normally, the inventory of available homes turns over in about six months. Simply put, too many speculative homes were built at too high a price point. Some people bought homes beyond their needs and ability to pay for them. Some of the folks who got into those homes simply stopped paying for their mortgages and the lenders foreclosed on them. Some—mostly out-ofstate investors—had speculated on investment properties, didn’t “flip” them successfully and just walked away.

Despite the negative headlines, homes are selling and being purchased. People are moving in and out of them for all kinds of reasons: career moves, changing household size, marriages, divorces, moving up or sizing down, or simply looking for greener pastures. That is true even in the worst economic situations.

The Hat Team’s Response

So what are we going to do? The Hat Team Realtors will continue working to make sure our clients become raving fans. We’ll work to continue earning your confidence. We’ll help you know where to look for available funds to purchase your home. We’ll match our buyers and seek
others who will find your current home right for them.

Montgomery Real Estate For Sale: 519 Ponce De Leon Avenue

by The Hat Team
Montgomery Real Estate For Sale:
Renovated 3 Bedroom Bungalow
You'll love not only the convenient location and charm of beautiful Cloverdale-Idlewild, but you will have to have this renovated bungalow. Step inside and find beautifully redone hardwood floors throughout, 9' ceilings, updated kitchen, and baths and don't forget the "secret" room in the attic. This is a great find in the Cloverdale area that you must see to believe. I know you'll be impressed.

Learn more about 519 Ponce De Leon Avenue or other Montgomery real estate at HatTeam.com or give us a call, 800-428-5239.

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Does Buying A Montgomery Home Makes Sense?

by The Hat Team

Does Buying A Montgomery Home Makes Sense?

 

The housing market has never been better for many potential Montgomery home buyers. In fact, more often than not, it is less expensive to own your own home rather than rent.

 

The National Low Income Housing Coalition reports that in 57 out of the 100 most populated metro areas, renting a three-bedroom home is more expensive than monthly costs on a six percent mortgage for a typical low-priced house in the same area.

 

With all the news these days concerning the economic crunch and these tumultuous economic times, you might think I’m crazy saying it is a good time to buy a Montgomery home. Of course, buyers with strong credit are best positioned to take advantage of today’s opportunities. A high credit score will yield a lower interest rate and increase the likelihood that a loan application will be approved.

 

For example, a buyer with a 6 percent mortgage will pay a third less per month than a buyer who has a loan at 8 percent. This difference can be hundreds of dollars per month.

 

FHA loans, VA loans and government backed first-time buyer loans are all available to qualified buyers. With the current low interest rates and affordable housing prices, it is a great time to buy your Montgomery home.

 

It is also a time to keep in mind that buying a home is a long term investment…and an investment you and your family can enjoy for many years!

Learn more about Montgomery homes and real estate.

 

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Impact Of Credit Crunch In Montgomery Minimal

by The Hat Team
Impact of credit crunch in Montgomery minimal
By Bob Gambacurta
Just as it was several months ago, when parts of the nation became swept up in the emerging home mortgage meltdown, the impact was no where near as critical in Alabama and Montgomery in particular, as it was in South Florida, Atlanta, Las Vegas, Arizona and California. For the most part, Alabama banks chose not to participate in making unsound, subprime mortgages.
So too is it today in the wake of the credit crisis which has devastated Wall Street and forced Congress to pass emergency relief legislation. Montgomery and most of Alabama has escaped, not totally unscathed but certainly better off than what we read in the newspaper and see on television. Locally, bankers decry the national media coverage as excessive doom and gloom.
Alabama banks have money to lend for home mortgages, car loans, business loans and the full range of consumer lending. Loan demand has declined, not for lack of money or because of more restrictive qualifications, but more likely from reduced consumer confidence and the impact of the slowing economy on income and employment.
"We never stopped making mortgages," says John Herzog, vice president and regional manager of New South Federal Savings Bank. "We always have conforming mortgage money. Non-conforming is gone completely. You've got to qualify now.
"But car loans, business to business loans, short term sort of stuff, that really dried up. Bank to bank loans, 90-day notes, all those things that businesses use to buy inventory and then sell it, short term borrowings is what dried up and so cash flow is difficult for small business right now," Herzog says.
The impact on small business is temporary, Herzog emphasizes. He predicts those types of lending instruments will be back to normal in two to three weeks.
Steve Kermish, president of Residential Mortgage Corporation, says the media is putting out wrong information.
"After listening to the national media, the misinformed are disseminating information to the uninformed. Comments like there's no money for mortgage loans and you need to have a 720 credit score to get a mortgage, it's just rubbish. I wish we could just get the facts out there.
"The truth of the matter is there's plenty of mortgage money out there. Not only is it out there, it's out there at a darn good rate, below 6 percent. You can get a 30-year fixed rate loan for less than 6 percent," says Kermish and you don't need perfect credit to qualify.
"On FHA and VA (mortgages) you can go all the way down to a 580 credit score. You sure don't need a 720. On a conventional loan you need about a 620. That's a long way from perfect credit," Kermish says.
Kermish says mortgages do not require a greater down payment today than before the credit crisis. VA loans are zero down. FHA loans require a down payment of 3 percent and conventional loans five percent. He says reports that homebuyers need to have 20 percent to put down are not true. As a matter of fact, he says, there are programs available with 100 percent financing.
Vicki Williams, president of Anchor Mortgage, concurs. "I still have three or four different type programs that I can do 100 percent financing. I can go as low as a 580 credit score. Your perception may be different that mine, but that's not what I'm reading in the paper, that you've got to have a 740 score and twenty percent down.
"I've got people I'm doing loans for now and they tell me, 'oh I read the paper, are we out of money?' I tell them no. They don't have the funky loans anymore, the loans where you don't have to have any income and you have bad credit and no down payment. They kind of decided those weren't the best idea after all," Williams says.
Williams blames the Clinton administration for relaxing home mortgage requirements in 1999 in order to allow low and moderate income people to buy their own homes. Some people received loans who never should have.
Williams says her business was off about ten percent last month, making about $9 million in loans as compared to $10 million to $11 million in previous months. The decline is not for lack of money to lend.
"It's only because people are scared that there's no money or that the rates are high. Our rates are five-and-7-eights," she says. That's lower than the average mortgage loan rates in 2007 and 2006 and comparable to mortgage rates in 2005.
Other aspects of consumer borrowing in Alabama also appear to be relatively unfazed by the national credit crisis. New South Federal's Herzog thinks Alabama banks, with one exception, are weathering the crisis pretty well.
"Our regional banks are fair. Wachovia was the one regional that was way too heavy real estate oriented.
"The smaller community banks are making out like bandits right now. They're getting everybody's customers who want new credit lines. They're making hay while the sun is shining on them. They're doing pretty well," Herzog says.
Dick Morris, area marketing director for Regions Bank, is not aware of any significant decline in Region's consumer loan business.
"In general, there continue to be credit requests. Our business is taking deposits and making loans and we continue to do that. Absolutely, we have money to lend.
"Regions has always been a well-funded, conservative bank. We have not tightened our loan requirements. We just continue to make good loans to good customers," Morris says.
River Bank and Trust is one of the area's newer community banks with locations in Montgomery, Prattville and Wetumpka. Jimmy Stubbs, the bank's president and CEO, doesn't believe credit has become tighter for his customers.
"We're a community bank, owned by people right here. It's become an alternative to big holding company banking. Our loan demand has either been steady or improved. The only area we've seen a decline is in residential construction and acquisition and development of property for residential development.
"From our perspective, it's not a lack of money but anytime you go through a down cycle in the economy, banks tend to be a little more conservative in their evaluation of businesses and individuals who are applying for credit. Typically, if times get tougher for businesses and/or individuals, they're not going to have as much money or cash flow to service their debt.
"We've got money available to lend. What gets tighter right now is the money businesses and individuals have available to service debt. That's what really begins to change," Stubbs says.
While the national credit crisis has had some minimal impact on business and banking in Alabama, it is no where near as dire as national media reports indicate. Banker Herzog believes that whatever the impact is, it's short term.
"The fix is in. All you've got to do is gain a little traction, got to grease the skids and we've got to get money moving again," Herzog says. "The only fix now is time and consumer confidence."

Montgomery AL Real Estate Sales Statistics - September 2008

by The Hat Team

Montgomery AL Real Estate Sales Statistics - September 2008

Pending home sales activity surged as buyers took advantage of low home prices and affordable interest rates, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, jumped 7.4 percent to 93.4 from an upwardly revised reading of 87.0 in July, and is 8.8 percent higher than August 2007 when it stood at 85.8. The index is at the highest level since June 2007 when it stood at 101.4.

Lawrence Yun, NAR chief economist, said home buyers were responding to improved affordability. “What we’re seeing is the momentum of people taking advantage of low home prices, with pending home sales up strongly in California, Nevada, Arizona, Florida, Rhode Island and the Washington, D.C., region,” he said. "It’s unclear how much contract activity may be impacted by the credit disruptions on Wall Street, but we’re hopeful most of the increase will translate into closed existing-home sales.”

Let’s take a look at the sales statistics for September 2008 to see how the Montgomery AL real estate market looks:

In Midtown Montgomery, pending sales increased 28% in September 2008, compared against September 2007.  Likewise, the number of sold listings increased by 27%.  The average sales price increased 19% to $123,834, and homes remained on the market for an average of 4 days longer this September.

Midtown
Montgomery
Pending
Sales
Sold
Listings
Average
Market Times
Average
Sales Price
September 2008
50
37
84
$147,114
September 2007
39
29
80
$123,834

Again, as Lawrence Yun said and as these statistics show, people are taking advantage of improved affordability.  

For the latest Montgomery AL real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.
I
nformation is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.  

Montgomery Real Estate Podcast - October 2008

by The Hat Team

podcastThis month's edition of the Montgomery Real Estate Podcast covers Montgomery real estate market activity and then we will talk about how with every change, there are hidden opportunities for both buyers and sellers.

Features special guest Terri Murphy of US Learning.

Program length: approximately 7 minutes

Montgomery Real Estate for Sale: 3402 Royal Carriage Drive

by The Hat Team

Montgomery Real Estate for Sale: 3402 Royal Carriage Drive

 

Sitting on this beautiful corner lot is this spacious home in Carriage Hills with many amenities. The home has been recently updated with fresh paint, new carpet and more. Off the 2-car carport is a generous storage room. The bedrooms are spacious, the living areas are large enough for those family gatherings and storage is plentiful. There is even a sprinkler system so no worries about manual watering. Underpinning completed in August. This one is priced to sell so come see it today.
For more information on 3402 Royal Carriage Drive or other Montgomery real estate, visit our website, HatTeam.com or give us a call, 800-428-5239.

Displaying blog entries 1821-1830 of 1998

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