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Always Dreamed of Owning a Second Home in Huntsville AL?

By: Huntsville Real Estate Expert Mike Manosky On June 5, 2012

Now is the time to make your dream of owning a second home in Huntsville AL come true.  Whether you want it for income property or as a vacation home, you may never encounter a more perfect time to get a great deal on your dream home.

Here are five reasons why now is the time to buy a second home in Huntsville AL:

The housing market is stabilizing.  Home prices are stabilizing and are not predicted to drop much past their present point.  This means homes will once again gain equity making them a good long term investment.

  1. Inventory is high.  There are homes available in all price ranges and neighborhoods so finding that perfect second home is well within reach.
  2. You get more for your money.  With all the homes currently on the market, many sellers are adding upgrades to help their homes stand out from the competition.  Additionally, home prices are at their lowest point since the Great Depression.  This adds up to you getting much more for your money.
  3. Interest rates are at an all-time low.  Experts predict interest rates will increase in the very near future adding thousands of dollars to the cost of purchasing a home.  This might make buying a second home more difficult or even impossible.   Although no one can predict exactly when this might happen, one thing is certain:  interest rates are not going to drop any lower.
  4. Lending requirements are getting stricter.  The lending requirements are changing and mortgages are becoming much harder to qualify for.  The days of zero down payments are a thing of the past and the amount of down payment required is expected to increase, along with interest rates.  Right now, you can still find home loans that allow a 3% down payment, but they are becoming harder to find and harder to qualify for.  In addition, in order to qualify for a loan, credit scores must be higher than just a year ago.

If you’re ready to buy a second home in Huntsville AL, I can help.  Call me today at256-508-0211 Direct or 800-803-0053 Toll Free or send me an email at mike@movetohuntsville.com.

 

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.

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