Huntsville Real Estate Blog

Your goal may be to build wealth quickly by buying and selling properties. But the reality is that flipping properties is a tough business. Here are 10 mistakes that could turn a flip into a flop.

• Liar loans. “Lying on a mortgage application is a federal crime,” says Joseph Falk of the National Association of Mortgage Brokers. “It includes bank fraud, wire fraud and mail fraud and potentially a host of state offenses. This can result in jail time.”

• Overpaying. No matter how promising the property, the bottom line is trump.

• Lacking cash. Desperation makes investors do crazy things. When you act in haste, you’re more likely to make poor decisions.

• Quitting your day job. A steady source of cash staves off desperation.

• Hiring unlicensed contractors. Not only do they present an insurance risk, but worse yet, often they don’t get the job done.

• Buying sight unseen. You can bet it will be uglier than the seller said it was.

• Buying property far, far away. Even the tiniest repair can mushroom into a crisis.

• Buying too many properties too fast. Too much money, too little time.

• Underestimating remodeling costs. There’s no such thing as a cheap and easy fix.

• Having a poor exit strategy. Running out of cash and living on credit cards doesn’t work.       (Source: USA Today, Noelle Knox )

If you are thinking of buying Huntsville real estate or investment property, visit my website to view all Huntsville real estate listings.

Bookmark It

Three Huntsville tech companies gained awards from the Alabama Information Technology Association this past week.

Analytical Services Inc. was selected the 2006 Large Technology Company of the Year. Preetha Pulusani, chief executive officer and president of Adept Media, was named the Top Executive in Information Technology, and Mark Spencer, the founder and president of Digium Inc., was named Entrepreneur of the Year. Full story…

Having quality companies bringing business and employees to Huntsville is a factor in rising property values. Be glad we live in such a progressive city.

If you are thinking of buying or selling Huntsville real estate, visit my website. Here you can view all real estate listings, get the current market value of your home and more.

Bookmark It

Huntsville real estate sales appear to be bottoming out with lower home prices attracting buyers in many areas of the country, according to the National Association of Realtors®. Lower prices may be attracting buyers into the market in many parts of the country, but it is not happening in Huntsville. Huntsville real estate prices locally continue to climb even though the number of homes for sale has swelled since 2005.The average sales price increased in September 2006 by approximately $12,526 or 8 percent from September 2005. During the same time period, the number of homes on the market jumped by 33 percent or 1,304 homes.  

Sales decreased, however, compared to last year by 13 percent or 139 homes. Market times actually decreased by 5 days or 5 percent. Lower market times are something we don’t usually see with an increase of inventory.

September is traditionally a slower month for real estate sales, with families getting children settled in school.  However, beautiful October weather usually brings buyers back into the market.

If you are thinking of buying a home, visit, HuntsvilleHomeHunter.com for a free, automated email search of homes.

Statistics are based on information for the Huntsville Chamber of Commerce and are deemed reliable but not guaranteed.       

Statistics are based on information for the Huntsville Chamber of Commerce and are deemed reliable but not guaranteed.       

Bookmark It

The Madison County school board voted unanimously this week  to adopt a resolution to oppose a road-building company’s plan to blast for limestone within about a mile of Madison County Elementary School in downtown Gurley. Madison County High is about 2.7 miles from the site.

Are you thinking of buying or selling Madison County real estate? Visit, HuntsvilleHomeHunter.com for a free, automated email search of homes.

Bookmark It

I want to congratulate my friend and fellow Cyber Star, Sam Miller! Sam’s blog, Knox County Real Estate Blog, has been named one of the 500 Real Estate Blogs To Watch by Pittsburgh Homes Daily. Congrats, Sam!!

Thinking of buying or selling a home in Huntsville? Visit my website to view all real estate listings, get the current market value of your home and more.

Bookmark It

October not only means football, but also, pumpkin patches, corn mazes and hayrides. Below are places in Huntsville and Madison County where you can have some fun with the kids. From Berries to Beans – beans, blackberries, blueberries, broad beans, peas, OTHER fruit or veg 12311 Bell Road SW, Huntsville, AL 35803. Phone: 256-883-5419. Fax: 256-882-2905. Email us at: info@berries2beansfarm.com . Directions: From Huntsville, travel south on Memorial Parkway to Hobbs Rd; turn right on Hobbs Rd, traveling west, then turn left on Bell Road (at traffic signal), and travel about one half mile to 12311 Bell Rd. Click here for a map to our farm. We are open June, July, August, September. Our hours are: Open: May 10-Nov 30, Daily Daylight hours, 7 am to 7 pm – Please call before coming. Blackberries: June, Blueberries: June – August, Peas, Beans, and Limas: varying times in the Summer months – call to inquire or check our web site Sweet corn (we pick) – call to place order – Sweet corn is usually ready around the 4th of July.

Tate Farms – pumpkin patch, pumpkins, corn maze, cotton
8414 Moores Mill Rd, Meridianville, AL. Phone: 256 828 8288 and 256 828 7200.  Fax 256 828 7200. Open: for private school/day care tours Monday to Friday from 9am to 2pm and open to the public Monday to Friday from 2pm to 6pm and Saturdays from 9am to 6pm. Pumpkins start the last week in September and all of October. There are lots of activities, like school and group tours, hay rides to the pumpkin patch, tour of the farm, hay bale maze, pumpkin chunkin air gun, corn crib to play in (similar to a sand box but with corn instead of sand), cotton fields to visit and experience picking, picnic areas, petting zoo, clean restrooms, gift shop, large vegetable shed where you can purchase already picked items, swings, kiddie area with rides and activities just their size, photo opportunities, 45 acres of pumpkins and gourds grown on the land. Students are given a lesson on the crop and then driven out to the field to pick out and then pick their own pumpkins. They grow many varieties, such as  Ole Zeb, Autumn King, Gold Medal, Big Max, Phantom, Appalachian, Casper (white pumpkin), Baby Boo (also white), Cinderella, Wee-b-Little, Lumina, Gold Fever, Pik-a-pie, Fairy Tale, Jack Pot, Dill’s Atlantic Giant and Jarrahdale.

After the kids have worn your out and you are home thinking of buying or selling a home, visit my website. Here you can view all Huntsville real estate listings.

Bookmark It

Most sellers make a profit when they sell their homes. They often have questions about how capital gains tax will impact them.If you are selling your primary residence, you do not have to worry about paying taxes on your profits if your gain does not exceed $250,000 as a single taxpayer (or $500,000 as a married couple filing jointly). This tax law comes from The Taxpayer Relief Act passed in August of 1997.

Different rules apply when you sell income property. If you sell one property then purchase another, the taxes will be due for the year the sale occurred. On the other hand, if you arrange to exchange one investment property for another, you can defer the capital gains tax.

To ensure complete tax deferment you must acquire a replacement property which is equal or greater in price than your exchange property, and move all of your equity from the old property into the new. It is not as complicated as it sounds, but you do need professional help. If you would like more information on selling your home or 1031 exchanges, visit my website or give me a call. I’m here to help!

Bookmark It

Voter Registration Information

FOR THE NOVEMBER 7, 2006 GENERAL ELECTION

* October 27 Voter registration deadline.

* November 2 Last day for voter to make application for an absentee ballot.

* November 6 Last day for voter to hand-deliver or postmark an absentee ballot.

Download your Voter Registration Guide.

And if you are thinking of buying Huntsville real estate, visit my website to view all real estate listings, get the current market value of your home and more.

Bookmark It

Huntsville Real Estate For Sale

A classic 3 bedroom, 2.5 bath brick ranch with an air of sophistication and a timeless beauty. The classice style never goes out of style and will bring enjoyment for years to come. A real family home with it’s huge family room and park-like backyard. Enjoy the virtual tour and visit my website for more information and to view all Huntsville real estate listings.

Bookmark It