By: Huntsville Real Estate Expert Mike Manosky On November 28, 2011
The cost of home ownership is not simply your monthly mortgage payment. In order to calculate the true cost of Huntsville AL home ownership, you need to consider a variety of other expenses.
One of the additional expenses you need to consider is real estate taxes. Most state and local governments charge an annual tax on the value of real property. This is called a real estate tax. Not everyone is subject to real estate taxes but for those who are it can make a big difference in how much home you can afford.
Real estate taxes are not the same for every property.
Real estate taxes vary from a couple of hundred dollars a year to thousands of dollars a year. This should be looked at seriously, because it could mean the difference between being able to afford your home and not being able to make your payments.
No one wants to be house poor or lose their home because they can’t afford the real estate tax, but countless numbers of people have lost their homes for this very reason. If you don’t pay your real estate taxes, not only will your home be sold for back taxes, but the mortgage company will still expect full payment on your loan.
Higher taxes don’t necessarily mean better services.
Although neighborhoods with higher taxes can offer better schools, roads and hospitals, this is not always the case. Don’t judge the neighborhood by the real estate tax, but do look at the services you’re getting for the taxes being charged.
Real estate taxes must be paid to transfer ownership.
If you are selling your home, you must have your real estate taxes current. If you’re buying a home, know that the real estate taxes are part of the closing costs you have to pay. The yearly real estate taxes and the status of those taxes are part of every real estate listing and should be taken into consideration just as you would consider the price of the home. (more…)
Purchasing a home is frustrating enough without having to go through the frustration of decoding all the complicated speak and legalese. If you brush up with a real estate dictionary before your home-buying search, you’ll gain valuable knowledge and save yourself a lot of time and headaches in the long run.
ARM – This stands for Adjustable-Rate Mortgage, which is a type of mortgage where the interest rate periodically adjusts.
Closing costs – These are miscellaneous expenses buyers and sellers pay upon closing; they usually include brokerage commission, escrow taxes, recording fees, etc.
CMA – This stands for Comparable Market Analysis, which is a report of recently sold, comparable homes in the same market as the home you’re selling.
Fixture – Anything that is permanently attached to the home, such as door knobs, carpeting, light fixtures and landscaping
FP – Fireplace
HDW – Hard Wood Floors
Lo dues – Dues paid to the homeowners association
MLS – Multiple Listing Service, which is an organization that compiles multiple listings into one report and distributes it to all of their realty members.
PSF – Per Square Foot
Sale price – The actual price at which the property sells.
Don’t let the hectic housing market overwhelm you. If you understand Huntsville AL real estate lingo, you’ll be more knowledgeable and able to easily achieve your real estate goals. (more…)
This sprawling home is brilliantly designed for a laidback lifestyle. As you drive up to this home you will want to ponder a moment and absorb the tranquil surroundings and lush landscaping. Come on in and take a look! Meander your way through on the hardwood floors and you will find yourself in over 3400 square feet of luxury. An elegant formal dining room is sure to please the most distinguished guests. Imagine all the delicious meals you can create in this stunning designer kitchen. Flourishing with gorgeous cabinets, lustrous granite counters and professional appliances, cooking is sure to be a pleasure. Family and friends can join the cook in the charming breakfast room combined with unsurpassed views. A southern styled great room invites you to start making those family memories around the see-thru fireplace flanked by arched entries to the tranquil sunroom. A luxurious master retreat provides a soothing oasis of special conveniences and comforts at day’s end with an 11 foot trey ceiling, gleaming wood floors and recessed lighting. A pampering master bathroom boasts a spa tub, custom shower, his and hers vanities, tile and a walk-in closet. The additional bedrooms are generously sized and feature private bathrooms. An enormous bonus room is ideal for recreational fun. Grab a good book and step out on the multi-level decking, persuading you to unwind with captivating mountain views. This is a place one could happily linger throughout the day. Soothe your worries away in the built-in hot tub. Nestled in mountain views, this beauty will not last long. Call today for your private tour.
Having lived in the Huntsville AL area for most of his life, Mike Manosky understands exactly what makes this community special. In fact, those who know him well will tell you he carries the same traditional values and focus on the future as Huntsville.
Mike brings with him a keen eye for the details of buying or selling a Huntsville AL home and seemingly boundless determination and energy, which is why his clients benefit from his unique brand of real estate service. Rooted in Tradition, Focused on the Future – Mike Manosky will help make the most of your Huntsville AL real estate experience. Give him a call today, 256-508-0211 Direct or 800-803-0053 Toll Free, and discover the difference he can make during your family’s move.
By: Huntsville Real Estate Expert Mike Manosky On November 19, 2011
Thanksgiving is a time to reflect on the changes, to remember that we, too, grow and change from one season of life to another. – Author unknown
Sarah Joespha Hale, author Mary Had a Little Lamb, campaigned vigorously for 20 years to have Thanksgiving made a national holiday. Five presidents turned a deaf ear to her pleas, but Abraham Lincoln listened, and on October 3, 1863, he declared that the last Thursday in November would be a national holiday. Sarah was also the one who urged that the Thanksgiving feast include such foods as turkey, stuffing, pumpkin pie, cranberry sauce, and mashed potatoes of two kinds. Sound familiar?
And speaking of food, are you thankful for the abundance of our planet? Show your gratitude by implementing these “green” suggestions for your holiday meal:
Use organic cranberries, sweet potatoes, and pumpkin
Shop at a famers’ market
Start a compost pile with all your leftovers
Click here for other earth-friendly holiday ideas.
Interested in giving traditional foods a modern twist? Try baby greens with fennel, wheatberry stuffing, and wild mushroom gravy. What about shredded Brussels sprouts or cranberry spinach salad? For recipes for these dishes and other updated foods, visit the web sites of Good Housekeeping and Allrecipes.
What do you get when you divide the circumference of a pumpkin by its diameter? Pumpkin Pi!
“Thanksgiving, after all, is a word of action.” William Jennings Bryan
Giving back…Thanksgiving is a perfect time to share our blessings with those less fortunate than we are and to spread the spirit of friendship and community. Opportunities for helping others during the holiday season are many and can involve one individual or the entire family. Some ways to foster goodwill and embrace the idea of sharing include:
Collecting and contributing non-perishable foodstuffs for a local food bank.
Giving money to local agencies who feed the hungry.
Volunteering your time to sort supplies, set up and/or clean up, or serve meals on Thanksgiving Day.
Inviting a neighbor who lives alone to join you for dinner.
Taking a warm plate of Thanksgiving food–and a big smile–to a shut-in.
Contributing to holiday food collection bins in grocery stores.
Purchasing pre-packaged boxes of food (generally under $10.00) to be distributed by local grocers.
Checking with your local place of worship to see where you help is most needed.
And remember our military personnel… by contacting A Million Thanks, a year-round campaign to show our appreciation for our U.S. military men and women, past and present, for their sacrifices, dedication, and service to our country through our letters, emails, cards, and prayers. Over 5 million pieces of mail have been sent to date. Zazzle will send free holiday cards to military folks, and Coupons to Troops has a great program in which you donate unwanted or expired coupons to military families living overseas.
HAPPY THANKSGIVING TO ALL! Remember to be grateful for what you have and to “give thanks for unknown blessings already on the way.” (Native American saying)
By: Huntsville Real Estate Expert Mike Manosky On November 15, 2011
Looking to buy a new house? Do you have a specified budget in place? Are you going to need to take out a loan? In such a tumultuous real estate market, there are many frustrating financial hurdles that you need to jump before you can purchase your Huntsville AL home. However, with a pre-approved loanyou could reduce stress and move in quicker.
A pre-approved loan is when a bank provides you with an amount they would be willing to lend you for a Huntsville AL home and a period of time for which this offer is good. They determine this amount based on several criteria that you must provide and prove, such as your current income, bank statements, income tax returns and credit history.
Perks from pre-approval
Know what you can afford –Using a mortgage calculator, you can see an estimate of the monthly mortgage payment to help you determine if it is within your budget. By obtaining a pre-approved loan, you’ll know exactly how much money you can spend on a house.
Gain credibility – Real estate agents and sellers take you more seriously if they have proof that you can come up with the money to purchase the property.
Save time – When you know exactly how much you can spend, you won’t waste your time looking at houses out of your price range. This allows you to spend more time scrutinizing the houses you can afford.
Close quicker – With a pre-approved loan, you’ve already completed part of the time consuming work toward getting your mortgage. Without pre-approval, you might endure heartache if you find your dream Huntsville AL home, but can’t find the funds. (more…)
For 5 nights, walk at your own pace through the winter wonderland of holiday lights, enjoy the sounds of the season & see real-life nursery rhyme characters & of course, Santa. Children can make gifts & warm refreshements will be available. No cars allowed on these nights.
Times: 5-7:30 PM
Address: 4747 Bob Wallace Avenue Huntsville, AL 35805
Having lived in the Huntsville AL area for most of his life, Mike Manosky understands exactly what makes this community special. In fact, those who know him well will tell you he carries the same traditional values and focus on the future as Huntsville.
Mike brings with him a keen eye for the details of buying or selling a Huntsville AL home and seemingly boundless determination and energy, which is why his clients benefit from his unique brand of real estate service. Rooted in Tradition, Focused on the Future – Mike Manosky will help make the most of your Huntsville AL real estate experience. Give him a call today, 256-508-0211 Direct or 800-803-0053 Toll Free, and discover the difference he can make during your family’s move.
By: Huntsville Real Estate Expert Mike Manosky On November 8, 2011
Do you think you have a good handle on what a reasonable price would be for your Huntsville home for sale? In today’s rollercoaster real estate market, the right price could be the difference between a quick sale and your house sitting for months without a single bite.
REALTORS® are experts when it comes to housing market values. However, if you’re planning on selling your house yourself, do you even know where to begin? Below are four tips the pros use to set a price that gets potential buyers in the door and still allows you to get the most money from the sale of your property.
Four tips to price your Huntsville home for sale like a pro:
Study your history – Take a look at what properties in your neighborhood sold for when you bought your house and then look at recent sales. Have prices increased, decreased or remained the same? This will give you a good idea of how the market value of your property might have progressed over time.
Research comparables – Check around to see what houses of similar square footage and style are actually selling for in your area. Then you’ll be able to get an objective idea of what your house is worth without letting attachments to self-done projects like bathroom upgrades or landscaping influence your judgment.
Tour other houses – REALTORS® take the time to personally visit almost every property on the market. If you’re going to price your home like a pro, you should tour a multitude of houses in your neighborhood. By going to open houses in your area, you can determine how your home stacks up to the competition.
Consider your location – As the old adage goes, “Real estate is all about location, location, location.” Are you in the most desirable neighborhood? If so, you may be able to command a higher price for your house. Make sure your price reflects your neighborhood, lot and surroundings, to set a realistic price.
If you need help pricing your Huntsville home for sale, please call me at 256-508-0211 Direct or 800-803-0053 Toll Free or email me at mike@movetohuntsville.com. (more…)
You know you need homeowner’s insurance but what kind and how much? To help you figure this out, here are answers to some of the most frequently asked questions about homeowner’s insurance.
How much homeowner’s insurance do you need?
Lenders require you to carry enough coverage to protect their investment, which means the amount of your loan. But the amount of your loan most likely isn’t enough to rebuild your home, if it was damaged. To be able to replace your home and its contents in case of a disaster, you probably want a policy that insures the replacement value of your Huntsville AL home.
It’s a good idea to sit down periodically with your insurance agent to review your homeowner’s policy. You want to determine if your coverage matches current construction costs and the replacement value of your Huntsville AL home’s content.
What about coverage for earthquakes and floods?
Many homeowners assume coverage for all natural disasters is included in their insurance policy. Not true. In fact, the most important thing for you to know about flood and earthquake insurance is that it is not included in a basic homeowner’s insurance policy. Both require separate policies in order to get reimbursed for damage.
Let’s face it; most of the United States has the possibility of being affected by an earthquake. Unless you specifically purchase earthquake coverage, damage to your Huntsville AL home caused by a quake is not covered. The same is true with flooding. You don’t have to live next to a large body of water to sustain water damage from flooding. A small creek next to your home can cause just as much damage during a flash flood.
By: Huntsville Real Estate Expert Mike Manosky On November 4, 2011
There were 643 Huntsville AL foreclosure homes for sale in September 2011 and one in every 1,418 housing units received a foreclosure filing. The average sales price of a Huntsville home was $164,504 and the average foreclosure sales price was $85,778, a $78,726 savings, according to RealtyTrac.com.
Huntsville AL Foreclosure Activity and 30 Year Interest Rate
Huntsville interest rates averaged 4.211% in September while the number of foreclosed homes increased from 65 to 67.
Foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.
Huntsville AL Foreclosure Geographical Comparison
Huntsville AL foreclosure activity in September was 0.10% below national statistics, the same as state figures and 0.01% below Madison County statistics.
A short drive to paradise is found in this amazing home. A dreamy kitchen with cabinet and counter space galore is ideal for cooking delicious meals. Family and friends will enjoy keeping the cook company as they perch at the serving bar. Nestled in views the breakfast area is ideal for starting your day. The relaxing great room is perfect for snuggling with your family around a warm gas log fireplace. Pamper yourself in the luxurious master suite complete with bay window views, a soothing whirlpool tub, and separate vanities. The additional bedrooms are illuminated with natural light and share a spacious hall bathroom. Check out this extended garage where you can let you imagination run wild. Peaceful pond views from the covered porches await your arrival. Call today for your private tour of this luxurious home.
Having lived in the Huntsville AL area for most of his life, Mike Manosky understands exactly what makes this community special. In fact, those who know him well will tell you he carries the same traditional values and focus on the future as Huntsville.
Mike brings with him a keen eye for the details of buying or selling a Huntsville AL home and seemingly boundless determination and energy, which is why his clients benefit from his unique brand of real estate service. Rooted in Tradition, Focused on the Future – Mike Manosky will help make the most of your Huntsville AL real estate experience. Give him a call today, 256-508-0211 Direct or 800-803-0053 Toll Free, and discover the difference he can make during your family’s move.
The cost of home ownership is not simply your monthly mortgage payment. In order to calculate the true cost of Huntsville AL home ownership, you need to consider a variety of other expenses. 
