Huntsville Veterans now have expanded homeownership opportunities, thanks to the Veterans’ Benefits Improvement Act of 2008.
Three provisions in the legislation are critical to help Huntsville veterans during the current housing turmoil. The law will make it easier for veterans who have fallen victim to risky subprime loans to refinance their loans into a safer, more affordable loans backed by the U.S Department of Veterans Affairs. The legislation also extends the VA loan limit increases through 2011, which will help veterans living in high-cost areas. In addition, the VA can now offer adjustable-rate mortgages to veterans. That would make Huntsville homeownership more attainable for military families and personnel who often have to move more frequently than their civilian counterparts.
If you are a Veteran thinking about buying a Huntsville home, please get in touch and we can give you some information on how you can take advantage of the great home purchase opportunities that exist right now.
Channel 19, WHNT-TV if offering half off deals with local businesses.
They’ve worked out deals with some of our area’s best restaurants and businesses to give you 1/2 off gift certificates - That’s right, 50% off food and more!
Each week they will feature a business of the week. At 8:30 AM each Friday, they’ll open up the ONLINE store for that week’s business. But you have to be fast - there are only a limited number of gift certificates per week.
Have fun and Happy shopping! And keep checking back for more half-off certificates from Real Deals!
I can’t offer you half off your next home Huntsville pruchase, but I can promise to get you the best deal possible.
Existing-home sales increased last month as buyers responded to improved housing affordability conditions, according to the National Association of Realtors®.
Existing-home sales - including single-family, townhomes, condominiums and co-ops - rose 5.5 percent to a seasonally adjusted annual rate¹ of 5.18 million units in September from a level of 4.91 million in August, and are 1.4 percent higher than the 5.11 million-unit pace in September 2007.
Lawrence Yun, NAR chief economist, said more markets are seeing year-over-year gains. “The sales turnaround which began in California several months ago is broadening now to Colorado, Kansas, Minnesota, Missouri and Rhode Island,” he said. “The South was hampered by much lower home sales in Houston in the aftermath of Hurricane Ike.”
Let’s take a look at the sales statistics for September 2008 to see how the Huntsville AL real estate market looks:
Huntsville/Madison County Real Estate Sales Statistics
Huntsville and Madison County real estate saw a 2% decrease in average sales price over September 2007. There was a 10% decline in home sales this September, when compared against September 2007. The average list price has seen an decrease of 2% over last year. Likewise, the sales price to list price ratio remained constant. The average price per square foot saw a 1% decrease. Homes remained on the market an average of 2 days longer than last year.
Date
Sold
Listings
Average
List Price
Average
Sale Price
Percent
SP/LP
Average
DOM
Average
Price
SqFt
Sept 2008
420
$201,072
$197,461
98.20%
82
$89
Sept 2007
467
$204,808
$200,814
98.05%
80
$90
There are lots of good things happening in Huntsville and Madison County real estate. I encourage you to take advantage of these opportunities.
For the latest Huntsville AL real estate market conditions in your area, please call me at 256-508-0211 or visit MoveToHuntsville.com.
Huntsville Real Estate & Homes For Sale 4405 Hampton Ridge Drive, Owens Crossroads AL 35763
Spread out southern style in this spectacular custom home in The Hampton Cove Area. The inviting upper and lower level covered porches offer gorgeousviews of the mountains. The comfortable and convenient floor plan has a gracious living room and distinctive dining room with wood floors,custom crown molding and wainscoting for formal entertaining. The spacious family room with gas fireplace for ambiance is perfect for large family gatherings. Serve up your sweeties at the breakfast bar in the gourmet kitchen! The work island, custom glazed cabinets, stainless appliances, granite countertops and tile floors are sure to please the chef in your family. Stay organized with the large laundry that offers an abundance of cabinets and a folding station. Slip away and have some fun in the recreation room. Retreat to the master suite with trey ceilings, hardwood floors, separate shower, vanity, dual sinks, and a whirlpool tub for relaxing nights. The oversized garage has a storm shelter built in. All brick exterior, professional landscaping and sprinkler system provide low maintenance for you to enjoy all this grand southern home has to offer your family.
For more information on 4405 Hampton Ridge Drive or other Huntsville real estate visit MoveToHuntsville.com or 256-508-0211.
Should I Buy Huntsville Real Estate In These Troubling Economic Times?
The Huntsville real estate housing market has never been better for many potential 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 Huntsville home. Of course, home 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 home 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 home prices, it is a great time to buy your Huntsville home.
It is also a time to keep in mind that buying Huntsville real estate is a long term investment…and an investment you and your family can enjoy for many years!
This ranch style home offers 4 bedrooms, covered front porch and an endless view. The traditional living and dining room with hardwood floors and an abundance of light are perfect for entertaining. Your family will enjoy the eat-in kitchen, with breakfast bar, updated countertops, cabinetry, wall oven, smooth cook top and dishwasher. The inviting family room with gas fireplace is sure to warm your guest on cold winter nights. The super sized laundry room features tile floors, cabinets and a folding station. The master suite with his-and-her closets, hardwood floors and a newly remodeled bath is the perfect retreat. 2-car garage, plus workshop! 1 car detached garage/shop with electricity is sure to please any handyman. Store your tractors in the 3 stall tractor shed.New heating /cooling system, tile floors, fresh paint and just refinished hardwood floors make this home ready for you to move in today! Dreams do come true!
For more information on 10409 Wall Triana Highway or other Huntsville real estate, visit MoveToHuntsville.com.
Private investigator Al Schweitzer was in Huntsville last week to talk with the Madison County Real Estate Investors Association concerning identity theft.
Al has been featured on “The Oprah Winfrey Show,” “Nightline” and “20/20,” and has worked behind-the-scenes as an investigator for major news agencies on such stories as Iran-Contra, the Jon Bonet Ramsey murder and the Timothy McVeigh trial.
He has also been an expert witness for Congress, the Federal Trade Commission, the Treasury Department and other government agencies.
With his background Al is a wealth of information on identity theft. Here is what he had to say, while in Huntsville, about safe guarding your private information:
Often, scam artists will already have some of their prey’s info, which can throw a victim off guard, Schweitzer said. If you get a call from someone saying they are with your bank or a credit card company, don’t ask for a number to call them back.
“I tell them I’m going to hang up and call information,” Schweitzer said, “even if they say, ‘You won’t be able to find me.’
“You need to be aware of your own activities,” he said. “Check your credit report every three to four months.”
He noted that consumers can get a free copy of their report once a year at annualcreditreport.com.
If you get credit cards in the mail that you didn’t apply for, chances are you’re a victim of ID theft, Schweitzer said.
Despite concerns about online scams, the most common methods that identity thieves use to get personal information is stealing from mailboxes, going through the trash and stealing information from applications at auto dealerships, he said. Still, consumers should be on guard for phishing scams, particularly with all the bank mergers taking place.
“This is a fabulous time to be a hacker,” he said. “Any time you have confusion, hackers can exploit that.”
Buying Huntsville Real Estate: Sorting Fact From Fiction
It is easy to think the world is coming to an end as we know it…or at least, the sky is falling…when your pick up a newspaper, listen to the news or logon to the Internet. Yes, we are experiencing troubling economic times, but how do we separate fact from fiction and know if now is the time to consider investing in Huntsville real estate?
Below is an interview with Eric Tyson, know for his books, Real Estate Investing for Dummies, Home Buying for Dummies, Taxes for Dummies and Personal Finance for Dummies. In the interview with Rismedia.com, Eric puts all the doom and gloom reports in perspective:
“Eric Tyson has every right to be opinionated about the media’s treatment of the current market conditions both on Main and Wall Streets. Tyson is a former management consultant to Fortune 500 financial service firms and has successfully invested in real estate for more than two decades. He earned his Bachelor’s degree in economics from Yale and his MBA at Stanford Graduate School of Business.
He might be more recognizable to the real estate community through his authorship and co-authorships of the very successful Real Estate Investing for Dummies, Home Buying for Dummies, Taxes for Dummies and Personal Finance for Dummies. With his insight and candor relative to what we should, and perhaps should never, be doing, we had quite a lively conversation.
Marylyn B. Schwartz: Eric, it’s tough to turn on the TV or pick up a newspaper without feeling like we are all lemmings ready to plunge into the abyss. To hearken to the pundits, this Wall Street mess is going to be the undoing of America as we know it.
Eric Tyson: I could not agree more. Listening to all the hype would lead people to believe that it was nearly impossible to get a home loan. It is harder to get a loan, but hardly impossible. There is a great deal of misinformation. The fact is, real estate is ‘on sale’ now as is stock. While I have no crystal ball about whether we have hit bottom, we are close. It is my contention that this is an excellent time to invest. We all know that buying low and waiting for things to return to more ‘normal’ circumstances is an excellent way to make money. Consumers with good credit will have little trouble finding lenders to write a mortgage. It is a fact that the volume of foreclosures and short-sales are slowing things down, and the fear of the credit crunch has added to the malaise. What we are seeing is a market correction, plain and simple. After the orgy of irresponsible lending by Fannie Mae and Freddie Mac, this was inevitable.
MBS: People are scared that their investments are at risk. When house values have declined significantly in many markets and nest eggs, if small, have all but disappeared, how can we assure people that they need to hang in, not panic and not act without careful guidance and counseling?
ET: We all need to avoid hasty decisions. We cannot afford a 9/11 type mentality. That is, experiencing a crisis and reacting in the short term rather than sitting tight and letting the dust settle. After the tragedy of 9/11, we had economic woes that lasted many years. However, people who invested in real estate then made back their initial investments many times over. Selling a depressed investment is never wise. Fifteen years from now, we will be looking at this time and shaking our heads. However, this economy is a great deal tougher if you are close to retirement. You need to be sure that you are not invested in high-risk markets. One way to measure your portfolio for its level of risk is to take 110 and deduct your age. The result is the percentage of your portfolio that should be in long-term growth assets …stocks, real estate, bonds, etc. These may or may not fit the cautious-investment criteria dependent upon the history of their performance.
MBS: What do you think the biggest misconception is relative to the spin the media places on the financial mess?
ET: This is not the Great Depression. We have to stop comparing the two times in our history. If facts are compared, it is not difficult to determine that where we are today is not where we were in 1929. The stock market decline of 700 points was a result of people listening to the media, panicking and selling off assets or liabilities as they saw them. The next day, the market rebounded significantly, and these same people are wondering if what they did was right or wrong. During the great depression, we had 50% foreclosures as compared with 2.5% or so today. We are suffering with 6% unemployment, yet back eighty years ago unemployment hit 25%. The bailout bill was grossly misrepresented by the media. They failed to liken present-day challenges to other times in recent history when we were in economic crisis. The Resolution Trust Corporation (RTC) that was formed by the US Government in 1989 to liquidate primarily real estate-related assets (including mortgage loans) belonging to savings and loan associations. These assets were declared insolvent by the Office of Thrift Supervision as a consequence of the savings and loan crisis of the 1980s. Between 1989 and mid-1995, the RTC closed or otherwise resolved 747 thrifts with total assets of $394 billion. Many who invested wisely in the consolidation and distribution of these assets realized profits down the road. Instead of it costing the taxpayer 450 billion as initially proffered, it ultimately cost closer to 75 billion. The key point is that we successfully weathered a seemingly insurmountable crisis with far less pain than the media would have had us believe.
MBS: Tough logic to swallow for people who are now having trouble buying food and providing shelter. While in the long run things will right themselves, it is the dark span between crises and leveling that scares most of us. We’re uncertain that we will come out the other end remotely whole…
ET: I understand that. It is in the ‘trenches’ where the pain is most palatable. However, as an economist, it is incumbent upon me to look at every aspect of our economy and determine where, and if, there are reasons to be optimistic. We do have a few strong economic indicators. Exports are up. The weakening of the US dollar aided that segment of our economy. As a result, our GDP grew. We are a resilient economy. We were entering a recession in 2001, and then we saw economic growth bolstered by the strong real estate market. Now we are seeing an adjustment for reasons mentioned earlier. I liken these adjustments to sausage making. While it is an ugly process to watch, the end product is quite palatable. There is far too much ‘daily noise’ that we have no control over. Research shows that the more negativity a person exposes himself/herself to, the more upset and out of control he/she feels. We must do our homework, balance the hyperbole with the facts and hunker down. There is simply no effective way to speed up the pains of an overdue economic correction.
MBS: There are many who are watching this correction with a high level of anxiety. There is ‘skin in the game’ all the way around, and no one wants another misstep no matter how slight. The American public is already reeling from the magnitude of this correction. Let’s hope that the bright spots you have identified continue to grow into a new day.
Marylyn B. Schwartz, CSP, is an expert in real estate and corporate sales training/management and team development. She is president of Teamweavers and a trainer for Leader’s Choice.”
Learn more about Huntsville real estate at HuntsvilleHomesOnline.com or give us a call, 256-508-0211.
To Fix or Not To Fix When Selling Your Huntsville Home
That is the question all Huntsville home owners should ask themselves when they consider selling their home.
The first item on the fix-it list: clear the clutter! If your closets, attic, basement, garage, and other storage areas appear neat, half-full and organized, your house will seem to have more storage space. To accomplish the clutter - clearing task, empty the house, hold a garage sale, and use the profits to help offset the next set of fix-it priorities.
Check your house for “curb appeal”. The exterior is the first impression a prospective buyer has of your home. Make it as inviting as you can. Think of it as outside decorating. Clean (or paint, if necessary) the exterior, re-sod brown spots and crab grass, mow the lawn, pull weeds, remove dead trees or plants, and trim the shrubs.
Flowers give warmth and personality to a home. Plant them tastefully in pots or beds at the entrance, on decks and around patios. If it isn’t flower season, at least clean the beds, remove the dead leaves, and cover the ground with fresh wood chips or other clean looking mulch.
If you have a limited budget, make the most of it. Put the money where it is most obviously needed and the return the greatest and most visible.
Fix Little Things
Take care of the little obvious things: fix leaking faucets, stop running toilets, replace broken windows, kill pet or mildew odors, repair holes in screens, remove mildew from tile, and re-caulk around bathtubs and sinks. Walk around; look at your house with a prospective buyer’s eyes. Small things tell buyers whether or not a house has been maintained.
Paint it!
A coat of light-colored, neutral paint-white or off-white-will make your home’s interior look crisper, cleaner, and also larger. Many buyers may not be able to imagine their sofa in your decor. White interiors work for the greatest number of people without their having to redecorate immediately. If you just moved, would you want to redo every room?
Your Carpeting
If the carpet is in reasonable condition, have it shampooed. If it is worn, threadbare or a non-neutral color, consider replacing it with beige or gray. You do not need to purchase the best quality money can buy. Lifetime wear is not required. You want it to look great now. Neutral walls and carpet do not offend anyone. Almost all furnishings look good with them. Rental property managers know this and have been doing it for years.
Professional Inspection
Consider having your house inspected by qualified inspector. Safety- and health-related items, such as radon and electrical problems could kill a sale if not properly attended to. It is much better to fix these items on your own time schedule and financial terms than hurriedly during a contract negotiation. Roof leaks, even if inactive, are also deal breakers.
What else do you fix amongst the inspector’s flagged items? Unless you can realistically get money back, fix only the problems with major systems. You want to keep your home’s selling price as low as possible to increase the pool of buyers.
Do not undertake any major remodeling in preparation for sale. It places more limitations on the size of your buyer pool. Tastes vary, and some people will dislike the results of your efforts. You will have to raise your selling price to reflect your fix-up investment, thereby pricing your home out of the range of other potential buyers.
A neutral color scheme in a house that sparkles brings you the highest return in the shortest time.
Learn more about Huntsville real estate at MoveToHuntsville.com or give us a call, 256-508-0211.
Your friends will be impressed by the remarkable renovation of this 1 story, 2800+ square foot home in the Mountain Brook neighborhood of Madison. This sight to behold includes 4 bedrooms & 2 bathrooms. A dramatic living room with 12 ft. vaulted ceiling welcomes your most distinguished guests and the gracious dining room with stunning Palladium window is ready for your first dinner party. And a casual family room with gas fireplace is ideal for less formal gatherings. The designer kitchen with its granite counters, stainless appliances, tile backsplash, pantry, and breakfast bar is open and family friendly. The Master suite provides the perfect sanctuary at the end of a busy day with a jetted tub, separate shower, dual vanities and tile flooring. A sun room, overlooking a fenced yard is a great place for warm weather entertaining or just THE place to relax with a good book. Additional updates include new paint, carpet, fixtures and roof. This is the ultimate home and ready for you to move right in!
For more information on 119 Montrose Drive in Madison or other Huntsville area real estate, visit MoveToHuntsville.com or give us a call,256-508-0211.
Huntsville Veterans now have expanded homeownership opportunities, thanks to the Veterans’ Benefits Improvement Act of 2008. 
The Huntsville real estate housing market has never been better for many potential buyers. In fact, more often than not, it is less expensive to own your own home rather than rent. 
Al has been featured on “The Oprah Winfrey Show,” “Nightline” and “20/20,” and has worked behind-the-scenes as an investigator for major news agencies on such stories as Iran-Contra, the Jon Bonet Ramsey murder and the Timothy McVeigh trial.
The first item on the fix-it list: clear the clutter! If your closets, attic, basement, garage, and other storage areas appear neat, half-full and organized, your house will seem to have more storage space. To accomplish the clutter - clearing task, empty the house, hold a garage sale, and use the profits to help offset the next set of fix-it priorities.