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Displaying blog entries 931-940 of 1998

Midtown Montgomery Real Estate Market Trends - July 2015

Friday, August 28, 2015
by The Hat Team

Yes, it’s August but don’t let global warming trends ruin your weekend house hunting plans! Simply follow these 4 tips on how to survive the sweltering heat outside while making your appointed house-hunting rounds.

midtown montgomery real estae

1. Schedule your viewings when it’s relatively cool. Plan your house hunting for the morning starting around 9:00 a.m. so it can be done by 1 p.m. when temps can become unbearable.

2. Map out homes that are close to one another. Have a very clear plan of which homes you will visit within a certain area so you can quickly and efficiently go down the list and avoid your car overheating.

3. Carry a fan. Carry a small hand held fan and bottled water for a quick pick me up.

4. Laugh it off. Keep things light and remember winter weather is on its way. 

Take a look at July's 2015's real estate sales statistics.

July 2015 Midtown Montgomery Real Estate Market Update

Midtown Montgomery real estate sales statistics for July 2015, show the number of homes decreased 27.5%. The average sales price decreased by 14.17% to $144,136 for the month. The median sales price decreased by 12.24% to $107,501, and market times decreased by 79 days.  The highest selling price decreased by 21.02% from July 2014.

Midtown Montgomery  July 2015   July 2014
Homes Sold 29 40
Average Selling Price $144,136 $167,931
Median Selling Price $107,501 $122,500
Days On The Market 130 209
Highest Selling Price $620,000 $785,000
Lowest Selling Price $5,100 $3,400


For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

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What Every Homebuyer Should Know About FHA Loans

Saturday, August 22, 2015
by The Hat Team

The Federal Housing Administration (FHA) is a government agency within the U.S. Department of Housing and Urban Development (HUD). FHA is not a lender. It provides an insurance fund that protects lenders against borrower loan defaults. Therefore, to obtain an FHA loan, a homebuyer must get their loan through an FHA-approved lender. The actual loan and mortgage for your home is actually with a commercial lender.

home buyerNot all FHA-approved lenders offer the same interest rates and costs, even for the same loan. Therefore, borrowers need to shop around with multiple lenders for the best total package for an FHA loan.

Here’s some good news…

  • Perfect credit is not a requirement of FHA. The FHA does not dictate a minimum credit score. However, lenders can overlay their own requirements on top of what FHA requires. FHA provides leeway in underwriting for the lender by insuring the loan, but the final decision about the loan is in the lenders hands.

    The lenders’ underwriting of a loan is targeted at ensuring that the homebuyer “has the willingness and capability to repay the loan, but we do have flexibility beyond pure credit score to look at the borrower’s financial situation,” according to Vicki Bott, HUD deputy assistant secretary.
     
  • The minimum down payment is 3.5% of the purchase price of the home. Borrowers can use their own savings for the down payment. But, they can also use other sources such as a gift from a family member.
  • Closing costs may also be covered. FHA allows home sellers, builders, and lenders to pay some of the borrower’s closing costs. However, lenders often charge a higher interest rate if they agree to pay closing costs.

Here are some cautions…

  • Homebuyers should get a Good Faith Estimate (GFE) of closing costs from the lender when shopping for their loan.
  • Mortgage Insurance is a must. Two premiums are required on all FHA loans: first, an upfront premium of 2.25%, charged when the homebuyer gets the loan (but may be financed in the loan); and second, an annual premium of 0.55% paid monthly with the mortgage payment.

Many homebuyers feel this all sounds expensive. However, the alternative is potentially not qualifying for a loan at all. The borrower must compare total costs of the purchase with the equity that potentially is possible in the long haul…along with careful shopping for the loan. Click here for more details.

Information courtesy of Montgomery AL Realtors Sandra Nickel Hat Team.

 

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Get Ready for College

Thursday, August 20, 2015
by The Hat Team

One of the important things as a parent is to plan for their children’s education. Let’s look at two different approaches: a savings account or investing in rental real estate.

for rentAssuming your child is five years old and you start putting $250 a month in a savings account earning 2%, in 13 years you’d have $44,497.41 to pay for their college. Anticipating that isn’t going to be enough, you’d have to save $500 a month to end up with $88,995.

Another way would be to make a lump sum contribution of $20,000 today in a mutual fund earning 5% that would be worth $37,713 in 13 years. You’d have to make a $47,196 initial contribution to end up with the same $88,995.

An alternative to savings would be to invest in a $100,000 home in a good area. Assuming a three percent appreciation and rent of $1,000 a month, an initial investment of $23,500 could have a future wealth position of $83,838 at the end of 13 years.

Obviously, this is just an example of why rental homes are the IDEAL investment providing Income, Depreciation, Equity build-up, Appreciation and Leverage. While rentals certainly have more risk and management than a savings account, they do provide an opportunity for a higher rate of return.

If you’re concerned about paying for college tuition in the future, it is certainly worth investigating the possibility of investing in rental homes today.

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Midtown Montgomery Home For Sale: 1466 Woodley Road

Wednesday, August 19, 2015
by The Hat Team

Midtown Montgomery Home For Sale:

1466 Woodley Road, Montgomery AL 36106
MLS# 320217

Custom Townhome Tucked Away Yet Convenient!

1466 woodley road

Custom townhouse is tucked away in a hidden cul-de-sac in the middle of Montgomery's beautiful Midtown area. Soaring ceilings and large open spaces give an airy, contemporary feel and is perfect for entertaining. Downstairs master is fit for a king or queen, with graceful double doors, "sunken" area, and private courtyard. Children or guests will have their own private space on the second floor, allowing plenty of room for everyone. Great price and great location, so make plans to see this one today!

Marketed by Montgomery AL Realtor Sandra Nickel, Hat Team!

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Montgomery AL Home For Sale: 4313 Delmar Drive

Tuesday, August 18, 2015
by The Hat Team

Montgomery AL Home For Sale:

4313 Delmar Drive, Montgomery AL 36109
MLS# 320188

Groomed, Manicured & Updated!

4314 delamr dr
This recently groomed, manicured, and updated Johnstown home is ready for you to move in! Unique floor plan will please the young-at-heart with great galley-style kitchen, open to sunny dining area, and with a large step-down great room with masonry fireplace. You and yours can spread out in the 3 spacious bedrooms, and there will be no fighting over the bathroom space, as both the hall/guest and master bathrooms have a split design allowing for use by more than one at the same time! Great Room and master bedroom overlook covered patio and sparkling pool out back, both great for entertaining or just relaxing. All this on a super quiet street, near a cul-de-sac and deep within desirable Johnstown. Just minutes from Gunter, Atlanta Hwy, and I-85, AND zoned for Dalraida elementary school.

Marketed by Montgomery Real Estate Experts Sandra Nickel Hat Team!

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Garden District Home For Sale: 1253 S Lawrence St

Monday, August 17, 2015
by The Hat Team

Garden District Home For Sale:

1253 S Lawrence St, Montgomery AL 36104
MLS# 320232

Cute Garden District Bungalow!

1252 s lawrence st
Cute Garden District bungalow available in Midtown Montgomery! Under 70k and ready for new owner. Two spacious bedrooms and one bath. Enjoy the extra space of the enclosed front porch for whatever you desire. Put your finishing touches on this charmer with payments less than rent. In good condition but owner selling as is. Bring your imagination and contractor! See it today!

Marketed by Montgomery AL Realtors Sandra Nickel Hat Team!

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Do I Really Need a Home Warranty?

Wednesday, August 12, 2015
by The Hat Team

This blog is not about selling home warranties! It’s about providing information, some of which you may not have considered before.

home warranty

Both buyers and sellers benefit from home warranties! That is especially true when the sale/purchase involves an older home. RISMedia.com recently interviewed Mark Barry, with American Home Shield. He said, “New homeowners want to be confident that they made a smart purchase and to know that they’re prepared for the unexpected” after they purchase.

But, what about sellers? Consider what a home warranty provides for both sides of a transaction, starting with defining “home warranty.” A home warranty policy is a little like an insurance policy, but different. Insurance typically pays out a predetermined amount of money if something goes wrong. Examples include an auto accident, a fire covered by homeowners insurance, and life insurance.

A home warranty covers breakdowns of home systems, such as heating and air conditioning components, and major appliances. It does not just pay out for a loss. It either repairs the component that failed or replaces it.

Home warranty companies have contracts with local repair companies. When something goes wrong with your home, a local contractor is sent to repair it. If it can’t be repaired, it will be replaced. The warranty policy defines deductibles and restrictions…so read the fine print!

Benefits to sellers are often overlooked. A seller can buy a home warranty policy in advance of putting their home on the market. Some benefits to doing that are…

  • Protection against the cost of breakdowns during the selling process
  • Prevention of a buyer opening downward price negotiations while under contract
  • The marketability of the property is enhanced with the added protection
  • The policy can be transferred to a buyer, making the property more attractive

Homebuyers, especially first time buyers, are looking for assurances. A home warranty gives them confidence that they’re not buying unforeseen problems due to their inexperience.

  • The home warranty can be transferred to the new owner
  • The buyer is protected against breakdowns for up to a year
  • The annual policy is renewable at the new owner’s option

In short, there is potential peace of mind for both buyers and sellers in your home sale/purchase. Do some research and make sure both parties have clear expectations. Make sure you understand what the policy does, and does not protect. And then rest easy that you are protected.

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Characteristics Home Buyers Are Looking For In Today’s Real Estate Market

Friday, August 7, 2015
by The Hat Team

Today we are going to let you in on a few ideas of what characteristics home buyers are looking for these days so that you can get top dollar for your home.  There is no better time than now to get busy about getting your home ready to sell.

laundry room

  • One of the most important things that home buyers these days are looking for is that there is a laundry room in the home.  Most folks do not want a laundry closet but an actual room where they can escape in order to get their laundry done.  A great way to catch the eye of the women of the family is to have a nice laundry room  with updated appliances and a few extras as well.  Many of these extra’s can be done DIY style.
     
  • Exterior lighting is another way to catch potential home buyer’s attention quickly.  As the days grow longer and it stays light longer many folks will be driving around looking at homes late into the evening.  By lighting your home up on the outside you are doing a great service towards selling your home more quickly. 
     
  • Replacing old windows for new energy efficient windows is a characteristic that many home buyers may be looking for.  With the high costs of energy these days, folks are doing all they can to lower their electric bills.  Buying energy efficient windows will help lower electric bills dramatically.
     
  • Extra storage space in your garage is a feature that most men will love in a new home.  By taking time to add some extra storage in your garage before a sale you may be adding extra change in your pocket. 
     
  • Eat-in kitchens are essential for a home to have for most people these days.  If your kitchen is not eat-in you may want to do a little bit of remodeling before you put your house on the market. 
     
  • Kitchen pantry storage is of up-most regard for most home buyers these days as well.  If you already have adequate pantry space then it would be a good idea for you to purchase some organizational shelves and such to make it less cluttered and more organized. 

These are just some of the many characteristics that potential home buyers are looking for in today's market.   If you can, it will serve you well to add at least one of these to your home before you put it on the market.

Information provided by Montgomery AL Realtors Sandra Nickel Hat Team.

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Who is Your Champion?

Thursday, August 6, 2015
by The Hat Team

warriorThe Super Bowl and World Series determine the football and baseball champions. Since there can only be one champion, the other team loses the competition. In feudal times, a knight might champion for the king or a patriotic, romantic or religious cause.

Fierce competition can occur when buying or selling a home because each party wants to get the “best deal” possible. When the buyer and seller are not equally matched, and they rarely are, it is important to have a champion on your side to fight for your cause.

The price of the home, the type of financing and concessions, personal property, closing dates and possession are just a few of the many things that can be negotiated in a contract. Since the seller wants to get the most for their house and the buyer wants to pay the least, their causes are diametrically opposed.

Even after the contract is signed, removing the contingencies can cause considerable negotiations. The inspections or the appraisal could be the source of reevaluating the terms and provisions of the contract.

Negotiating the sale or purchase of a home is definitely a competition and you need a champion on your side.

Information provided by Montgomery AL Realtors Sandra Nickel Hat Team.

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Montgomery AL Home For Sale: 2036 Gorgas St

Wednesday, August 5, 2015
by The Hat Team

Montgomery AL Home For Sale:

2036 Gorgas Street, Montgomery AL 36106
MLS# 319970

Great House With Plenty Of Space!

2036 gorgas st
Looking for room to spread out? Check out this spacious brick home conveniently located in Midtown! Hard wood floors throughout, large living room, dining room and eat-in kitchen. Master bedroom downstairs with updated tiled shower and walk-in closet. Upstairs are two bedrooms and extra space for a play room, den or whatever meets your needs. Nice covered deck overlooking the back yard. This is a great house with plenty of space, check it out today!

Marketed by Montgomery AL Real Estate Experts Sandra Nickel Hat Team!

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Displaying blog entries 931-940 of 1998

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