Yesterday, I was driving through the city, wondering if a potential buyer was going to show up to look at some Huntsville condos I’m showing. I’d had a bad day; the car didn’t want to start, what I’d planned to wear was dirty, I’d run out of milk and so on, and so on. Needless to say, I wasn’t in the best of moods. 

As I stopped at a light, grouching because the light would make me late, I happened to look over and see a woman with her daughter. The little girl had holes in her coat, a ragged hat, torn up shoes and a teddy bear missing an eye that she clutched as she smiled up at her worried mother – who had a “Please help” sign in her hands. As I drove on to show the Huntsville condos, and further throughout the day, that little girl’s smile stuck with me. 

Last night, I came across a news broadcast about a family of five living in a one-room apartment after losing their house and I remembered that little girl. All of this comes down to one thing… 

It’s coming up on Thanksgiving, people are searching turkey recipes, decorations are being pulled out… and the current problems in the world make it hard to find something to be grateful for. However, they’re there if you only look. 

If you have a home and you’re trying to sell it, it’s understandable that you might be upset if it’s not moving. As hard as it may be, however, remember that at least you have a home to sell. 

If you’re looking for a home to buy and you can’t afford the fancy one you wanted but you can afford a slightly smaller one, remember – at least you can afford something. 

If you’re upset that your job isn’t paying enough, you’re working long hours or not enough, remember the millions that no longer have a job. 

Whatever your problem that may be weighing you down when Thanksgiving rolls around, remember that it truly could be worse. It is worse, for so many people. 

I’ll even start the list: I’m grateful for all of my clients. I’m grateful that I have Huntsville condos and homes to show and potential buyers that want to see them. For my readers, my friends, my family and my own home… Happy Thanksgiving, and may you always have something to be grateful for!

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Congress has voted to extend the current higher Fannie Mae, Freddie Mac and FHA loan limits through 2010. The present loan limits would expire at the end of 2009 and revert to previous lower limits. The higher limits, along with the home buyer tax credit extension, are necessary to keep the markets moving at this critical time,” said National Association of Realtors President Charles McMillan.

“Home sales have shown significant movement upwards in the past six months and reduced inventory in some segments of the housing market, but not in all. Home purchases in the middle-income and higher brackets have not moved much, and those markets must improve before we can experience a fully sustained housing recovery. These higher loan limits will help motivate qualified home buyers to purchase in those markets,” McMillan said.

Let’s look at October Madison County and Huntsville real estate sales to see how the housing recovery is progressing in Huntsville AL. 

Madison County/Huntsville Real Estate Sales Statistics 

Huntsville and Madison County saw an increase of 17% in sold listings when compared to September 2009.  The average sales price decreased by 3% to $183,835.  The average price per square foot remained consistant with September 2009.  And the average list price decreased by 3%.  While homes were on the market an average of 6 days less than September 2009.   

For more information about Huntsville AL real estate, please visit MoveToHuntsville.com or call me at 256-508-0211. 

To begin searching Huntsville AL homes, 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.  

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If you’re looking to buy Huntsville real estate, you’re probably already looking at mortgage possibilities as well. Since many buyers are also looking for energy efficient options, I thought it only right that I brought EEMs (Energy Efficient Mortgages) and EIMs (Energy Improvement Mortgages) to your attention. 

What are EEMs and EIMs?

An EEM adds a home’s energy efficiency into the mortgage, giving you the ability to finance energy efficient measures as part of the mortgage payment. One of the good things about an EEM is that it stretches the debt-to-income qualification ratio, which means that you can qualify for a larger loan and a more energy efficient home. 

An EIM is for existing Huntsville real estate that you plan to make energy efficient improvements to. You can include the cost of the improvements into the mortgage without raising the down payment. In addition, whatever you save in utility costs from the improvements can go to finance more improvements. 

Qualifications

If you’re trying to qualify for an EEM or EIM, you’ll need to have a home energy rating conducted first. This is to give you an estimated Energy Savings Value – the value of the measures and the estimated monthly energy savings. 

Types of Energy Mortgages

There are several types of energy mortgages available: 

• Conventional – sponsored by Fannie Mae and Freddie Mac, these EEMs give the Fannie Mae approved lender the ability to raise your income, matching a dollar for each estimated dollar gained through efficiency.
• FHA – Lenders can add 100% of the cost of improvements to an approved FHA loan, up to $4,000 or 5% of the home value (maximum of $8,000). FHA loan limits won’t stop you from getting the EEM. You can find out more about the FHA EEMs on their website.
• VA – Veteran’s Administration EEMs cap energy improvements at $3,000 to $6,000, and are for buying existing Huntsville real estate. If you’re a qualifying reservist, veteran or military personnel, you can find more information on the U.S. Department of Veteran’s Affairs website.
• Last but not least, there is the Energy Star mortgage pilot program. Currently, it is only available in a few states, but it’s growing to include others. 

If you’re interested in making energy efficient improvements to an existing home or buying a home that’s already energy efficient, I strongly recommend that you look into EEMs and EIMs. 

If you’re looking for an energy efficient home or one you can make energy efficient, I can help. Call me at 800-803-0053, 256-508-0211 or email me at mike@movetohuntsville.com for more information.

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Buying or selling a home has a major impact on many people’s lives. So it’s important not to leave the task to just anyone. 

Take advantage of all the benefits that come with working with a full-time  Huntsville real estate agent. Since selling or buying a home can be a full-time job, it just makes sense to work with an agent that has a full-time commitment. 

A full-time real estate agent can offer: 

• Lots of experience – If your agent lives and breathes real estate around the clock, then he or she is better equipped to handle the many surprises that come with buying or selling a home.
• Peace of mind – You could be a first-time home buyer or seller. A full-time  Huntsville real estate agent has the knowledge to lead you through every step, saving you time, money and stress.
• Availability – Since your agent works full time, she is available to you when you have questions, concerns or need her for any reason.
• In-depth market knowledge – The real estate market is changing faster than ever. In order to be a successful buyer or seller, you need to be kept up to date. A full-time real estate agent stays current with what’s happening each and every day.

Whatever your home-buying or home-selling goals, it’s smart to have an experienced, full-time Huntsville real estate agent working for you. You’ll save yourself headaches, heartache and from making home buying mistakes. 

Ready to work with a full-time real estate agent?  Give me a call today at 800-803-0053, 256-508-0211 or email me at mike@movetohuntsville.com.

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The $8000 first-time home buyer tax credit was scheduled to expire in just a few short weeks…Nov 30, 2009. I say ‘was’, because the Senate voted unanimously to extend the credit on Monday and the House of Representatives approved the extension yesterday afternoon by a vote of 403-12. The extension includes an expanded tax credit to repeat home buyers. The bill now goes to the President for his signature which is expected to happen today. 

Home Buyer Tax Credit Expansion and Extension  

• The $8,000 tax credit will be extended and available for first-time home buyers through May 1, 2010.
• A new $6,500 tax credit will be available for repeat buyers who purchase between Novenber 7, 2009, and April 30, 2010. To qualify, buyers must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years.
• Prospective buyers with binding contracts in place as of April 30, 2010, will be allowed an additional 60 days to complete the transaction.
• Income limits are expanded to $125,000 on a single return and $225,000 on a joint return.
• Limitation on the cost of a purchased home is $800,000. 

If you know anyone looking to buy their first Huntsville home at a time when prices and interest rates are at 3-5 yeart lows, or if you are thinking of buying another Huntsville home and getting the new $6,500 credit please contact me today.

Search all Huntsville homes for sale.

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There are 1,362 Madison County AL foreclosure homes for sale with 128 new foreclosures in September 2009. 1 in every 18,634 housing units received a foreclosure filing in September. The average sales price of a Madison County AL home was $189,756 and the average foreclosure sales price was $162,566, a $27,190 savings, 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

Madison County AL foreclosure activity is lower 0.18% lower than national statistics and 0.02% lower than Alabama statistics.

Madison County AL Foreclosure Activity by Month

The number of both the Bank-Owned properties properties fell from 53 to 48 in September, while Auctions incresed from 71 to 80. Pre-foreclosure activity decreased, indicating a falling trend in foreclosure activity.

Are you or someone you know behind on your mortgage payments and facing a Madison County AL foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. Give me a call for a private consultation.

Learn more about Madison County AL real estate.

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Selling a home is complicated and full of legal issues that anyone considering selling “by owner” needs to be aware of.  However, two of the most important things you need to know in order to be successful as a FSBO (for sale by owner) Huntsville home seller have nothing to do with legal issues.

Maximize Exposure

It takes more than just sticking a “for sale” sign in the front yard to get the right people to see your home. It is very unlikely that you will sell your Huntsville home to a neighbor, or anyone in the neighborhood just driving by. It can happen, but that group is very limited. For sale signs help, but they don’t usually sell the home on their own.

It’s important to advertise in as many places and as many ways as possible including on the internet, in homes magazines and in the local MLS (Multiple Listing Service).

Know Your Buyer

The next thing that is complicated for an individual selling their own Huntsville home is knowing which buyers are looking in earnest, which are just being nosey, and which have the ability to actual make good on an offer.

Along with exposure this is one of the biggest reasons FSBO sellers often end up turning to a good real estate agent. They have the ability to make sure buyers who come to view your home are ready, willing and most of all able to make a purchase.

If you would like more tips on selling your home “by owner,” subscribe to this blog.  It’s free, fast and easy.

Learn the current market value of your Huntsville home?

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