Boasting over 1800 square feet of perfection this ranch style home is ready for you. Double sidelights and a transom in the entry will welcome your guests. As you step into the dining room you will see that the hardwood floors and double windows will make formal dinners extra delightful. A spacious family room with a cozy corner fireplace to snuggle up to on cold winter nights is the perfect family gathering spot. Escape to the master suite featuring a walk-in closet, carpeted floors, ceiling fan and plenty of room to take care of you. The master bath with whirlpool tub, double vanity and a separate shower is the ideal place to pamper you. Three additional spacious bedrooms or use one as a study gives your plenty of room for your growing family. Rain or shine you can entertain on your covered patio with ceiling fan. Oversized backyard with mountain views will soon be the place your family spends free time. Do not miss this one call us today for your private showing.
There’s a lot of competition in the current market for Huntsville homes for sale. If you’re thinking about adding your home to the list, this checklist is for you.
#1. Set your goals. What do you expect from your sale? Do you just want to get rid of the home, or do you want the highest price possible? Will you be ready if a buyer wants to close quickly? The answers to these questions factor into how much time it takes for a house to come off the market.
#2. Decide whether to use an agent or not. Although many Huntsville homes for sale go faster and at better prices with a real estate agent, it’s still possible to get a decent price doing it yourself. If you decide to use an agent, interview them and talk to their past clients to make sure you feel confident in their services.
#3. Set your home price. This is tricky, because if you don’t set the right price, your house can sit on the market for a long time and sell for much less than it’s worth. If you hire an agent, they’ll analyze comparable homes and find a good price. If you don’t hire an agent, make sure you look at recent sales on comparable homes, as well as neighborhood demographics to find the right price.
#4. Find the problems and get serious issues fixed. Although you aren’t obligated to hire a home inspector, a professional home inspection can help head off serious issues that can delay the sale. If you can fix the serious issues, do so. If you can’t, you can still sell the house “as is,” as a fixer-upper. Keep records of everything you do fix.
#5. Consider staging your home. From curb appeal to inside style, home stagers can help your house look its best. Studies show that, in general, staged homes sell faster and for better prices than those that haven’t been staged.
Adding your house to the list of Huntsville homes for sale will be an exercise in patience, but following this checklist can help make the exercise a much shorter one.
There are 1,316 Madison County AL foreclosure homes for sale with 130 new foreclosures in August 2009. 1 in every 17,633 housing units received a foreclosure filing in August 2009. The average sales price of a Madison County AL home was $198,541 and the average foreclosure sales price was $169,903, according to RealtyTrac.com.
Madison County AL Foreclosure Activity and Home Price Index
Madison County AL 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 AL Foreclosure Geographical Comparison
I’m going to tell something that may (or may not) shock you - Huntsville real estate agents are a dime a dozen. No, no, really. However (and this is a big “but”), great agents are few and far between. Does that mean the others are out to scam the unwary buyer and seller? Not at all.
So what’s the difference? One of the biggest differences is in what they know. A great agent knows what’s going on in their chosen city and throughout the neighborhoods. They do their homework and are seldom surprised by rising trends.
What kind of homework? I’m glad you asked!
1. Keeping an eye on local pricing. Huntsville real estate agents have to pay attention to the prices in their area. Are they high? Are they low? Are they steady? They have to know so they have an idea of which houses are priced at “fair” market valueand which are overpriced or underpriced.
2. Knowing what’s up-and-coming. Agents have to stay aware of new infrastructure possibilities. For instance, there may be plans for a new shopping center to be built. That shopping center will help the community grow, and could become an attractive addition for homebuyers in the area.
Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. The index is at the highest level since June 2007 when it was 100.7.
Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better. “The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,” he said. “Other buyers are taking advantage of low home values before prices turn higher. Nationally, the typical mortgage payment now takes less than 25 percent of a middle-income family’s monthly income to buy a median priced home, with payment percentages so far in 2009 being the lowest on record dating back to 1970. As long as home buyers stay within their budget, mortgage payments will be very manageable,” Yun said.
Madison County/Huntsville Real Estate Sales Statistics
Madison County/Huntsville real estate saw an decrease of 14% in sold listings when compared to August 2008. The average sales price decreased by 5% to $191,057. The average price per square foot increased by 8%. And the average list price decreased by 6%. While homes were on the market an average of 11 days less than August 2008.
Date
Sold
Listings
Average
List Price
Average
Sale Price
Percent
SP/LP
Average
DOM
Average
Price
SqFt
Aug 2009
387
$195,453
$191,057
98.20%
69
$87
Aug 2008
449
$207,083
$201,732
97.84%
80
$80
This is a great time to consider buying Huntsville real estate. 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.
For more information about Huntsville real estate, please visit MoveToHuntsville.com or call me at 256-508-0211.
To begin searching Huntsville real estate and homes for sale, please use my complimentary MLS search.
Statistics are based on information for the North Alabama Association of Realtors and are deemed reliable but not guaranteed.
If you’re buying Huntsville real estate, you might start worrying about your credit score. Unfortunately, there are a lot of myths about that score, and many individuals actually end up making things worse by following them.
Read this list of common credit score myths and be in the know before talking to a lender:
1. Close out your credit cards. This is a big no-no, especially when you want to buy Huntsville real estate. Closing out your older credit cards, especially, can actually make your credit score drop.
2. Lower your credit limits. Lowering your credit limits can hurt your credit score. Part of your credit score is based on how much credit you have available.
3. Get good credit by paying all your cards in full. If you’re buying a home, part, if not most of the cost will be credited. What lenders want to see is that you know how to handle credit, not that you don’t have any debt. Instead, use 10% to 20% of your available credit and pay your bills on time.
Have you ever walked into one of the Huntsville homes and looked down to see stained carpet or flooring? It brings a little thought of “ew” sometimes, doesn’t it? Imagine if you were a buyer looking at the same floor.
The right type of flooring, and flooring that is well taken care of, can make a big difference to buyers. If your floor brings on the “ew” thought, here are a few fixes to help make sure your home sells:
Does your home have hardwood floors?
You’re in luck. Buyers love hardwood floors and some will actually pay extra to get them. In fact, it could be that final selling point. If your hardwood floors are covered by carpet, painted over or showing anything but the natural wood grain, it’s time for an overhaul. Pull up those carpets and get to sanding.
With the ability to rent large sanders and other tools, you can either refinish the hardwood floor yourselfor hire a professional. Remember, however, that hardwood floors in Huntsville homes have a tendency to show off scratches, dents and uneven surfaces. If you don’t think you could do a good job, hire a professional.
Being eco-friendly is an important issue to most people today. Making your home as energy efficient as possible makes sense on many levels, but do you know it makes sense when it comes to federal tax credits too? They’re not small incentives either. These tax credits are another major reason to be serious about going green in your Huntsville home.
Tax Credits for Existing Homes
Making your home energy efficientwill benefit you whether you are planning to stay in your home for years to come or you are considering selling in the near future. Prospective buyers will react favorably to eco-friendly installations. It will also help move your Huntsville home faster and get a better price.
In 2009 and 2010, you could get major tax incentives for going green too. When you purchase certain energy efficient items, you may get as much as 30% (up to $1,500) of the cost of the item returned to you as a tax credit. These items include:
Energy efficient windows and doors
Energy efficient insulation (primary use must be for insulation. Items such as insulated siding are not included)
New Roofs created with Energy Star materials
Most HVAC products including: central air units, air pumps, furnace for natural gas, propane, or oil, water heaters, main unit circulation fans.
Geothermal Heat Systems
Solar Energy
Biomass Stove
Wind Turbine System
Residential Fuel Cells and other Microturbine Energy systems
Hybrid Cars (hybrid gas, electric, diesel, battery, alternative and fuel cell) May have a much higher tax value between $2,500 and $7,500 based on several criteria
Tax Credits for Construction and New Homes
There are also excellent tax credits for consumers building a new home. These credits are up to 30% of cost on acceptable items with NO limit. These items include:
Geothermal Heat Pumps
Solar Panels
Solar Water Heaters
Wind Turbines
Fuel Cells
Protecting your Huntsville home, making it more energy efficient, and saving money has always been important, but there has never been a better time to get started.
If you would like more information on how to take advantage of the Federal Tax Credit for Energy Efficiency, give me a call today at 800-803-0053 or 256-508-0211. Or email me at mike@movetohuntsville.com.
Huntsville foreclosures are a sad fact of life. The truth of the matter is that, for many, even loan modification isn’t an option. When faced with foreclosure or short sale, how do you decide which is best? While short sales have been pushed by many as a viable option, it’s hard to know what’s best for you. Here are some facts about the consequences of both:
Your Credit
While both Huntsville foreclosures and short sales will affect your credit score, the differences are wide. A foreclosure can affect your score for as long as three years or more, and lower it as much as 300 points. The foreclosure can remain on your public history for over ten years.
However, only late payments show on your credit with a short sale. Your score can drop as little as 50 points and be affected for as short as one year. In addition, it isn’t reported on your history; it will show that the mortgage was settled and paid in full.
Your Job
On its own, a short sale generally doesn’t affect your employment. However, a foreclosure is a different story. Some employers regularly check their employees’ credit records. As well, many require credit checks for new hires. A foreclosure on your record can jeopardize your current position or future opportunities, as well as cause the revocation of a security clearance.
Judgments
In the event of a foreclosure, many banks have the right to try and get a deficiency judgment, stating that you have failed to pay the entire amount of the mortgage. With short sales, however, lenders will normally agree to give up the right to that judgment and put it in writing.
Lastly, keep in mind that Huntsville foreclosures generally close below the price they would get from a short sale, so the remaining balance might be significantly higher with a foreclosure.
If you want to stay out of foreclosure through short sales, I can help. Call me at 800-803-0053, 256-508-0211 or email me at mike@movetohuntsville for more information.
Selling a home isn’t easy, especially now. Yet some homeowners believe they can stick a “for sale” sign in the ground and have the house off the market within a few days.
While FSBO (For Sale By Owner) sales do occur, four out of five homeowners still use a Huntsville real estate agent. Why? Because selling your home on your own is hard work, and even more importantly, statistics prove that real estate agents get homes sold faster and for more money than FSBOs.
If you’re not sure what you should do, here are a few things to think about:
FSBO
Sometimes, for sale by owner purchases are a good deal for the homeowner. That doesn’t mean you should just jump in, however. FSBO might be a good thing for you if:
You are unwilling to pay the typical Huntsville real estate agent commission
You have a good attorney who can keep you protected for the legal aspects
You have the time to learn how to do it, answer the phone and provide open houses
You’re comfortable negotiating
You’re confident you can price your home correctly
Real Estate Agent
Although you will have to pay your agent a commission, there are some definite benefits to hiring one:
A good agentcan help you price your home correctly.
They have an abundance of resources to help find buyers, get the best price and get your home sold.
They make sure the potential buyer can actually afford it.
They’re good at negotiating and aren’t emotionally invested in the sale.
If for no other reason, they’re interested in getting the highest price possible because of their commission.
They put in several hours a day, that you may not have available, to get your home sold.
They have advertising resources, such as real estate magazines, that you may not be able to touch (or afford).
A Huntsville real estate agent may not be the best way to go for you. On the other hand, you may not have the necessary information and time required for FSBO. Before going one way or the other, take the time to really look at both sides and decide which works well with what you expect from the sale of your home.
If you’ve tried to go the FSBO route, and it didn’t work out, or if you know FSBO isn’t for you, I can help. Call me at 800-803-0053, 256-508-0311 or email me at mike@movetohuntsville.com for more information.
