Huntsville Real Estate Blog

You’ve decided to take the plunge and buy a home for your family.  With the banking industry in the shape it is, unless you have stellar credit, you’ll need a more sizeable down payment than ever before.  So, how do you get the down payment for the Huntsville real estate you’ve always dreamed of?

Get Scrounging

Scour your attic, basement and storage units. Look in every nook and cranny to find items that are in decent shape, but no longer used, and have a garage sale.  Sure it’s usually pennies on the dollar of what your stuff is worth.  But if you’re not using it, someone else can, and you get the cash in hand. If you find items that are more valuable, sell them on eBay.  Every little bit helps.

Rich Relatives?

Hey, if you have’em use’em. This is no time to feel shy about asking for a gift. Purchasing Huntsville real estate is a wise investment.  Many relatives who might otherwise be unwilling to give cash for frivolous items are happy to help loved ones buy a home.

Sell Something Big

Having precious jewelry or antiques is a great asset.  Consider selling items you’ve been holding onto as investments, in order to get the home of your dreams.

There are many ways to come up with the down payment and financing you need to buy Huntsville real estate.  I can help.  Give me a call to day at 800-803-0053 or email me at mike@movetohuntsville.com.

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Flower beds can be a very attractive addition to any Huntsville home - if you have the time to set up and maintain them. Flower beds don’t necessarily require a profusion of costly flowers that need to be fertilized, mulched, covered in severe weather and possibly re-planted on a yearly basis. 

Here are a few tips to keep your flower beds filled without a huge money or time commitment. 

Perennial Wildflowers

Wildflower mixes native to your area are often a good choice if you want a profusion of flowers, but don’t want to do much to take care of them. These flowers grow back easily every year and are well-adapted to the climate and soil conditions in your area. Native wildflowers may need little more than watering and the occasional weeding. 

Decorative Rock 

Filling the beds with attractive decorative rock provides maintenance-free curb appeal to your Huntsville home. Several colors of decorative rock are available and can be chosen to set off the color of your home. Planters may also be placed amongst the rocks to add live plants to your flower beds, and those plants can easily be moved inside before the weather gets too cold for them. 

Low-Growing Shrubs

For low-maintenance ground cover in your flower beds, plant low-growing shrubs such as some strains of juniper. The main issue with this option is that the shrubs take a while to grow in. But once established the only maintenance required is the occasional trimming of overgrown branches. 

Vacant flower beds detract from the overall look of your home and contribute to an air of neglect. Attractive fillers do not have to be either expensive or difficult to put into place. 

For more tips on how to spruce up your Huntsville home, visit MoveToHuntsville.com.

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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.

Learn more about Huntsville real estate by visiting MoveToHuntsville.com.

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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 inspections and 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.

Learn more about Huntsville real estate by visiting MoveToHuntsville.com.

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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.

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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 money you 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.

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There are great incentives for first-time Huntsville real estate buyers. Big tax incentives and money put into the banking and financing industries to give buyers more availability to loans makes now the best time to move when looking for a home. This environment won’t last-exactly. Some of the elements put in place are geared toward a strong future for the housing market, but many of the advantages are only good for now.

Tax Relief

First-time Huntsville real estate buyers, meaning those who have not owned a home in the past three years, are eligible for a big tax break on income taxes. Next year at tax time all buyers have to do is report the new home purchase to get $8,000 dollars back. That’s a big incentive. The drawback is it’s only good for this year. It is retroactive to the beginning of 2009 so even if you have already bought that home you can still claim it, but if you drag your feet hoping for better mortgage financing, or just a better time for your family to get a new home, you will miss out after December 31, 2009.

Affordable Housing

Right now is the time to buy because of prices, too. Thanks to the failings of the housing market, there are tons of homes for sale at prices they would not normally be listed at. If the stimulus plan improves the economy the way it is hoped it will, that won’t last. That’s great news for homeowners, but not great for those who wait to take advantage of the greatly reduced home prices.

Huntsville real estate buyers need to take advantages of all that 2009 and the current real estate market have to offer. There are great deals that will never happen again-hopefully. 

If you’re interested in taking advantage of the 2009 stimulus plan, I can help.  Call me at 800-803-0053 or 256-508-0211 or email me at mike@movetohuntsville.com for more information.

Learn more about Huntsville real estate at HuntsvilleHomesOnline.com.

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There are a lot of Huntsville homes for sale now which makes it a great time to buy. Not only can you find a wide variety of beautiful homes at lower than normal prices but thanks to the new American Recovery and Reinvestment Act of 2009, if you’re a first-time home buyer, you can get a generous bonus at tax time.

Here are some tips for taking full advantage of the stimulus and to make shopping for a new home more pleasurable.

1.  Don’t Settle for the First Place You See

It isn’t a race and you don’t get extra points for being fast. Take your time to find just the right one for you.

2.  Weigh the Pros and Cons

Just about any home will need a few improvements.  Even newly constructed homes usually need improvements like landscaping. Home sellers are savvier now about how to make enhancements to catch a buyer’s eye, but look carefully. There will still be things you want to change. Weigh the difference between the cost of those repairs and the sale price. If you really want a home even though it’s going to take a lot of work, place your bid accordingly.

3.  Start Looking Now

The new stimulus plan allows for more homeowners to remain in their homes where only a short time ago they needed to sell. The housing market will begin to stabilize and prices will get stronger. If you are thinking about buying a new home, now is the time to do it.

4.  Get Help

The sea of homes available can be mind-boggling. Find a professional real estate agent to wade through the Huntsville homes for sale and find homes that meet your family and financial needs.

5.  Get Your Financing in Order

The new stimulus plan will make banks and mortgage companies stronger and loans will once again be available. They may not be as easy to get as they were in the past, however, so make sure you have all your information ready. Having financing done in advance makes your job of buying Huntsville homes for sale much easier.

If you’re looking for a professional real estate agent to help you find your perfect home, find out how I can help.

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According to the Better Business Bureau, contractor problems are one of the most common consumer complaints.  With those kinds of statistics, buying newly constructed Huntsville homes for sale calls for a knowledgeable individual.  Here are a few things you can do to make sure your contractor doesn’t end up as your complaint: 

Know What Your Warranties Cover

There are two types of warranties.  One is called an express warranty, and is given to you by the contractor.  Usually, this warranty lasts between one to ten years, with one year being the most common.  It covers everything from cosmetic flaws to serious defects. 

The second type of warranty varies depending on the state you live in.  It’s an implied warranty that lasts seven to ten years, stating that the residence has to be habitable.  To have your defect covered by this warranty, you have to be able to prove that it’s a health or safety hazard. 

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There are several indications that the new stimulus bill passed by Congress will have a positive influence on the struggling housing market. If you are considering buying a Huntsville home for the first time the stimulus plan may help make that happen.

How the Stimulus Bill Stimulates the Bottom Line

The biggest effect the stimulus plan will have on new home buyers is a tax incentive. We all want to get more money back on our tax returns and the stimulus bill has an $8,000 tax credit for first-time home buyers purchasing a Huntsville home.

How You Qualify

In order to qualify for the stimulus tax incentive you must:

·        Not have owned a home in the past three years.

·        Use the new home as your primary residence.

·        Have an income of less than $75,000 per person or $150,000 per couple.

No action is necessary other than reporting the purchase on your income tax filings.  You must keep your home for at least 36 months in order to not have to pay back the incentive in the following tax year. If, however, you keep your new home for 36 months or longer you never have to repay the incentive.

There is no cap on return for this incentive either. Even if you would not normally be entitled to the full amount according to your taxable income level you will still receive the entire $8,000 amount in return.

Stimulating Interest on Huntsville Home Purchases

The stimulus bill also gives first-time home buyers a chance to get into those big ticket houses. Houses with market values over $417,000 will be eligible for lower interest rates to make them more affordable. The luxury home industry has stagnated in the failing real estate market and this should give it a vital boost.

President Obama’s stimulus plan is serious about improving the housing market. The bill gives people looking to buy a [city] home reason to hope. 

Interested in more information on how the stimulus plan can you help buy a home?  Call me at 256-508-0211 and 800-803-0053, if you prefer to remain anonymous, email me at mike@movetohuntsville.com.  I’ll never share your contact information with anyone for any reason.

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