Montgomery Real Estate For Sale: 1754 Wentworth Drive
Montgomery Home For Sale
1754 Wentworth Drive, Montgomery AL 36106
The Hat Team
Displaying blog entries 1851-1860 of 1998
Montgomery Home For Sale
1754 Wentworth Drive, Montgomery AL 36106
Montgomery Real Estate for Sale
2245 Allendale Road, Montgomery AL 36111
Like any legislation, it comes with the good and the bad. I encourage you to write your Congressmen to see if we can get legislation to revoke some of the bad. For example, effective October 1, 2008, FHA will increase the minimum required down payment from 3% to 3.5% for Montgomery home buyers. The legislation also calls for the elimination of seller down-payment assistance programs such as AmeriDream and Nehemiah by October 1, 2008.
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When I put together the stats that I shared earlier this week about
Yes, sales in our area are off substantially from June 2007—431 total sales in the Tri-County area this year vs 554 the same month last year. And, on the surface it seems that prices are plunging: $162,416 average sale price June 2008 vs $175,541 the year prior. What this does NOT, however, take into account is the enormous impact of REO’s being sold in our marketplace.
In June 2008, 16% of the closed sales--68 of the total 431—were REO’s, with an average sale price of $61,125. Non-REO sales totaled 363 at an average $181,391 sale price. That’s only $2,404 or slightly more than 1% below the June 2007 average of $183,795.
Clearly. REO’s are a real drag on the current market. And of the 3314 properties for today in the Tri-County area, 301 are under right of redemption. The average list price of those 301 properties is $97,957 and the media is $68,900. So for months to come we may continue to see a wide gap in “average sale price” between 2008 and 2007. This will no doubt continue until the inventory of REO’s declines substantially.
For investors, this is great news: we have 301 “motivated sellers” who need to move properties. The range of values runs from a low of $2,900 to a high of $699,900—something for everybody!
If you are ready to begin investing in Montgomery AL real estate, please call me at 800-HAT-LADY, or visit HomesForSaleInMontgomeryAlabama.com.
Garden home living at its best. Great floor plan with privacy in mind. The master suite is separate and has a fabulous bath with double vanities and huge walk-in closet. You will have plenty of choices for placing furniture in the great room because of the corner fireplace. The rear entry garage is oversized to be utilized for storage. The large covered patio is off the great room and breakfast room. Let's count the ways the swing room can be used....office, formal dining room or 4th bedroom. You choose. At this price, this one won't be around long so hurry and see.
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Garden Home living at its best. This one owner model home built by Burt Loeb had many extras that you don't find in spec construction. High ceilings, crown molding, Concreations design sidewalk, broad windows and laminate floors. The floor plan is unique in that there is a bonus room that is perfect for a den or office. A large open floor plan for the living area and the bedrooms are split. Out back is a 2-car carport. This home is located on a quiet cul-de-sac and is ready for new owners. Make this one first on your list.
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This spacious and well maintained brick ranch has 3 separate living areas! This home boasts formal living and dining rooms, a huge 15x19 family room with fireplace, built-in bookshelves and beamed vaulted ceiling and an open bonus/sunroom with tile floor and huge picture window overlooking the pool and landscaped back yard. The kitchen has tile floor, new stove and counter-tops and big breakfast bar. Extra large main bedroom with 2 closets (one walk-in), double sink vanity/dressing area and separate bathing area. Out back is a patio and in-ground pool with new liner. Great neighborhood and within walking distance to
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Modest near-term movement is expected in Montgomery AL real estate sales, with a recovery in sales seen during the second half of the year, according to the latest forecast by the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said some pullback after a sharp increase in the previous month was expected. “The overall decline in contract signings suggests we are not out of the woods by any means. The housing stimulus bill that is still being considered in the Senate is critical to assure a healthy recovery in the housing market, jobs and the economy,” he said.
Furthermore, Yun said location has never mattered more than in the current market. “Some markets have seen a doubling in home sales from a year ago, while others are seeing contract signings cut in half. Price conditions vary tremendously, even within a locality, depending upon a neighborhood’s exposure to subprime loans.”
Let’s take a look at the sales statistics for June 2008 to see how the Montgomery AL real estate market looks:
In Midtown Montgomery, pending sales decreased 18% in June 2008, compared against June 2007. Likewise, the number of sold listings dropped 21%. The average sales price decreased 9% to $131,446, and homes remained on the market for an average of 7 fewer days this June.
Midtown |
Pending |
Sold |
Average |
Average |
June 2008 |
38 |
37 |
104 |
$142,820 |
June 2007 |
72 |
56 |
133 |
$149,412 |
Again, as Yun said, real estate sales and prices vary from neighborhood to neighborhood, even within the same city. For the latest Montgomery AL real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.
Displaying blog entries 1851-1860 of 1998