Madison County foreclosure homes are continuing to rise with 98 new Madison County foreclosure filings in April and 97 filings in March, according to RealtyTrac.com.
Madison County Foreclosure Activity and Home Price Index
Madison County foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or repossession notice – each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.
Madison County Foreclosure Geographical Comparison
The Madison County foreclosure rate of .13% is slightly above Alabama’s .11% rate, but .14% lower than the National rate.
Madison County Foreclosure Activity Month-by-Month
The amount of pre-foreclosure activity in March and April indicates that the foreclosure crisis is not over with many Madison County families in distress situations.
Are you or someone you know behind on your mortgage payments and facing a Madison County foreclosure? You do have options. A short sale may be the answer to saving you, your fmaily and your home. Give me a call for a private consultation.
If you have been sitting on the fence and unsure whether now is the time to buy Huntsville real estate, now is the time! Housing affordability reached an all time high according to the Alabama Center for Real Estate.
The Housing Affordability index is the ratio between a market’s median income and the median home selling price. An index of 100 means a family earning the median income has just enough money to qualify for a loan for that market’s median-priced house.
According to the report, a Huntsville-area family earning the area’s median income of $67,500 has 2.27 times the income needed to qualify for a loan to purchase the median-priced home of $143,467, or an affordability index of 227. That’s a 16.7 percent increase in affordability from the previous quarter, which had an affordability index of 194.6.
Enjoy your daily paper at the breakfast bar in this 2 story, 3 Bedroom, 2.5 Bath country home on 3 acres. You have plenty of space to roam while being close to town. You’ll enjoy casual living in the engaging Great Room and large family get togethers in the classic Dining Room, both with hardwood floors. The family-friendly Kitchen is bright and cheery. The kids will love having snacks at the breakfast bar. The Master Suite features dual vanities, a whirlpool tub for soaking away life’s cares, a walk-in closet that will accommodate your entire wardrobe, and a linen closet. Outdoor entertaining is a breeze with your private deck and patio. And last but not least, relax on the spacious wrap around porch – perfect in any type of weather!
Learn more about 12032 West Ridge Drive and other Huntsville real estate by visiting MoveToHuntsville.com.
Huntsville AL Real Estate Sales Statistics
Huntsville and Madison County saw a decrease of 21% in sold real estate listings in April when compared to April 2008. The average sales price decreased by 3% to 185,797. Average price per square foot decreased by 2%. And the average list price decreased by 3%. While homes were only on the market an average of 3 days more than April 2008. The interest rates are in the 4.5-4.75% range for a 30 year mortgage.
This is a great time to consider buying or a home in Huntsville or Madison AL. Housing affordability is at an all-time high, interest rates are at near record lows and now first-time buyers can use their $8,000 tax credit towards a down payment. Don’t hesitate and lose out. Give me a call and learn how you can take advantage of the $8,000 tax credit for first-time home buyers.
Date
Sold
Listings
Average
List Price
Average
Sale Price
Percent
SP/LP
Average
DOM
Average
Price
SqFt
Apr 2009
337
$190,700
$185,797
97.43%
94
$87
Apr 2008
428
$196,377
$191,546
97.54%
91
$89
For more information about Huntsville AL real estate, please visit MoveToHuntsville.com or call me at 256-508-0211.
Filed under:
Sellers — Huntsville Real Estate Expert Mike Manosky
If you’re thinking of listing your Huntsville home for sale and know it needs a little sprucing up, here are a few tips on the smartest home improvementsyou can make to help sell your home faster and for more money.
Kitchen remodelingstands at the top of any list of most attractive projects for re-sale value. Crisp clean new cabinets, fresh tile and countertops all make for buyer approval and is money well spent.
Bathroom remodeling is a good bet but not nearly as good as adding additional bathrooms, unless your home already has a lot of them.
Adding central heat and air to replace floorboard or radiator heat is a huge selling point for any [city] home for sale.
Installing a deckor patio. This one hovers close to the middle of the do/don’t numbers but it is still a nice investment that can make your home feel more comfortable and give it more ’space.’
Items that are less likely to be worth the money include:
Installing a backyard pool. Some people think a pool is attractive. To many buyers, it’s nothing but additional work and expense. Unless you live in a climate where the majority of people want a pool, steer clear of this investment.
Converting your basement into a finished living space. Many buyers like a finished basement, but it’s the main living space that counts most to them. Your money would be better spent above ground.
It is important to fix up your home to get it ready for buyers. But with money tighter than we’ve seen it in a long time, you need to focus on those improvements that will give you a good return on your money.
If you’d like more tips on what works and what doesn’t when fixing up your Huntsville home for sale, I can help. Call me today at 800-803-0053 and 256-508-0211 or email me at mike@movetohuntsville.com.
Absolutely gorgeous, maintenance free and gated ranch home in Belmont. An awesome glass front door with sidelights welcomes you into an extra large foyer with gleaming wood floors. The elegant dining room with striking crown moldings, trey ceilings and wood floors is the perfect place to serve your culinary masterpieces. The formal living room with gas fireplace, columns, beautiful crown molding, wood floors and recessed lighting will WOW your most discriminating guests.
Bon Appetite, this kitchen features all the bells and whistles your family chef could imagine. You will never miss a beat as you prepare for your family in this designer kitchen including Stainless appliances, smooth top range, granite counter tops, an abundance of cabinet space and a breakfast bar with stools. There is also plenty of room for additional dining! Kick back and unwind in the family room with an additional gas fireplace and a wall of windows to view your lush landscaping, which remember is maintenance free. When the day is done, escape to your master suite and enjoy a bubble bath in the whirlpool tub or open the French doors to your private patio. Two additional bedrooms feature big closets, carpeted floors, 9 foot ceilings, crown moldings, and ceiling fans. Outside you can enjoy entertaining under the covered patio with a ceiling fan or step into the sun on the uncovered patio. Privacy is yours behind this gated residence as there are no neighbors behind you. Truly, a maintenance free home with year round lawn service, sprinkler system, gutter guard and a Sentricon Termite protection system. You will have plenty of time to partake in a game of tennis or a swim in the community pool. Don’t miss your chance to own this delightful home.
Learn more about 26 Belmont Place and other Huntsville real estate by visiting MoveToHuntsville.com.
Huntsville home buyers just got another incentive to purchase a home in 2009. The $8,000 first-time home buyer tax credit can now be used towards a down payment.
What does this mean for Huntsville home buyers? First-time home buyers will not have to wait to file their tax return to get the $8000 and will be able to use these funds when they close on their home loans so that the cash can be used as a downpayment. FHA approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans, allowing eligible home buyers to access the funds immediately at the closing table.
This is GREAT news for first-time Huntsville home buyers who often are tight on cash when purchaing a home. Give me a call today to learn how to take advantage of your $8000 credit.
Finding a home may seem like a simple ordeal. There are ads all over the internet, and your local newspaper probably has pages of listings. So why bother working with a Huntsville real estate agent?
Your real agent isn’t going to help you just find homes for sale; they’re going to help you find the perfect home. So what does a [city] real estate agent know that you don’t know, and how can they find the best homes for sale?
Intimate Knowledge
Finding a Huntsville real estate agent who specializes in the area where you want to buy is especially helpful because they have intimate knowledge of the homes for sale. The agent also knows the locale and can give you tips about schools, crime levels, shopping and other necessities.
MLS Searches
While you can view many listings online, your real estate agent will know exactly how to manipulate the MLS to find the most desired features you want in a home.
Negotiation Skills
One of the most important things a good [city] real estate agent can do for you is negotiating your offer. There is a lot more to finding (and getting) a home than just looking through listings. Your agent will make sure all of the proper procedures are being followed, home inspectionsand title searches are getting done and time schedules are being met.
Legal Know How
Real estate agents go through hours of special training to ensure they know all the real estate laws. Going it alone makes for ample room to slip up and either negate the deal or end up in hot legal water.
Don’t take any chances on letting that prized home get away by missing a legal loophole, or just plain not finding it. If you’re looking for a real estate agent who can find your perfect home and negotiate to get the best price and terms for you, call me today at 800-803-0053 and 256-508-0211 or email me at mike@movetohuntsville.com.
Many people go through life one paycheck to the next and never bother to figure out where their money is going. It’s important to know where your money is going and what you can afford if you are thinking about buying a new Huntsville home.
Here’s how to start up a monthly budget that will keep you in the know about where your money is running off to each month.
Find a program you’re comfortable using. Your computer probably came with a spreadsheet program. If you are not used to using one open it up and become familiar with the program. It’s a great tool to use to create a budget. If by chance your computer doesn’t have a spreadsheet program, you can use an online program like Budget Pulse, or other useful online budget systems such as Mvelopes.
Enter your absolute monthly expenses such as car loans, utilities including cell phone bills, and credit card expenses.
Enter your monthly bills that can vary such as food, gasoline, entertainment. These expenses can be changed to help improve your bottom line, but make sure you give them fair limits so you don’t cut yourself short on necessities such as food or transportation costs.
Make sure you figure in some savings for vacations and other unexpected expenses that may pop up throughout the year. Trimming your budget so severely that you have no extra money to cover you when something breaks down, or an extra bill comes in is a sure method for disaster and will make you new life in a Huntsville home miserable instead of the happy time it should be.
Once you realize where your money is going, it’s easier to see if you are spending frivolously or strapped to your limits. It is the best way to determine if your dreams of a new Huntsville home are realistic or not.
If you have any questions about your ability to afford a new home, I can help. Call me today at 800-803-0053 or email me at mike@movetohuntsville.com.
Filed under:
Buyers — Huntsville Real Estate Expert Mike Manosky
Buyer’s remorse happens to most people. The fear of signing a long term deal with a mortgage company at the closing of a Huntsville real estate deal, whether it is for a family home or investment property, can be frightening. It’s important to not let that fear get the best of you for several reasons. Not only will you lose out on that perfect piece of property you’ve looked so long for, you can lose a lot more than that.
Walking away from a deal before signing can mean losing any earnest moneyyou have put down when you bid on the property. Unless you made a bid with no money to back your offer, which is highly unusual, you will lose it by deciding not to go through with the closing.
There are a few contingencies that may allow you to get all or some of the earnest money back when you walk away but only if you have listed those possibilities in the offer such as:
Not getting the financing you’d hoped for. If you don’t list that possibility as a contingency for buying a home, even if you can’t get financed, you will lose your earnest money deposit.
Not selling existing [city] real estate. Again, this only works if you included the sale of your existing real estate before final closing on the new home as a contingency.
Appraisal, title, or inspection contingencies are also good clauses to have in your offer to protect you in case you want to back out of the deal. These allow you to change your mind if the appraisal value of the Huntsville real estate doesn’t come back matching the price you are paying, inspections turn up problem areas, or the title has issues.
Don’t be fooled into thinking that you can back out of a signed contract bid because of those items if you do not list them as contingencies.
Let me help you prepare a proper real estate contract, including all contingencies. Contact me today at 800-803-0053, 256-508-0211 or email me at mike@movetohuntsville.com.
