Montgomery, AL

Friday, June 12, 2009 by The Hat Team

Many Montgomery home sellers look at the first offer on their home as just that, the First Offer with many more to come. You know what they say, ‘A bird in the hand is worth two in the bush.' And in the current Buyers Market, offers are few and far between. Montgomery home sellers will want to consider the first offer very seriously. Here are reasons why:

• An early offer (if you're lucky!) doesn't necessarily mean buyers are lining up to follow suit. It could just mean that your home meets the needs or preferences of that one particular buyer who made the offer.
• Your home will get the most interest from buyers just after it goes on the market. The longer it stays on the market, the more "desperate" buyers will think you are, prompting lower and lower offers.
• Even if the first offer is thousands lower than your list price, consider carefully whether it might be enough -- in terms of price and contract terms -- before rejecting it out of hand. After all, the longer your home is on the market, the more it costs you in mortgage payments, taxes, insurance, upkeep and sheer inconvenience.
• If the offered price and contract terms are less than ideal, start negotiations by making a counteroffer, being as flexible with the terms as possible. It isn't uncommon for buyers to offer a price below what they are truly willing to pay, sometimes much below, just to see if they can buy under market.

An offer indicates serious interest in your home -- don't underestimate that but don't take it for granted, either.

Thinking of selling your Montgomery home? We'll be happy to work with you to fine-tune your home's listing price so it fits our local market. We can also advise you on what would make your home more saleable at low cost to you. Most importantly, we can put our expertise to work for you when it comes time to negotiate with potential buyers. Learn more about us by visiting HatTeam.com.

Get the value of your Montgomery home.

Many consumers today are understandably worried about their nest egg. For many of them, however, their "nest" is the best investment they can make.

Not only does owning a Montgomery home help people build long-term wealth, but also it provides shelter and security for their families and fosters involvement in community life. In essence, homeownership is the cornerstone of a healthy community.

U.S. Census Bureau data shows that Montgomery homeowners move less frequently than renters. This stability is important in creating strong foundations for both families and communities.

A recent NAR research study shows that Montgomery homeowners are more likely to vote, volunteer time for civic events or participate in local crime prevention programs because they're invested in what happens in their neighborhoods.

If you are considering buying a Montgomery home to build your nest, visit HatTeam.com or give me a call. I'm glad to guide you through the process.

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Montgomery AL foreclosure homes continued to rise during the first quarter of 2009 with 211 new Montgomery AL foreclosure filings in April compared to 201 filings in March, according to RealtyTrac.com.

Montgomery AL Foreclosure Activity and Home Price Index

Montgomery 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.

Montgomery AL Foreclosure Geographical Comparison

The Montgomery AL foreclosure rate is .06% lower than the National rate, but .10% higher than the state of Alabama's rate.

Montgomery AL Foreclosure Rate Month-By-Month

Montgomery AL pre-foreclosure activity for March and April is an indication that the foreclosure crisis in Montgomery AL is not over with many more Montgomery families in distress situations.

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

Get the value of your Montgomey AL home.

Pending home sales rose with many first-time buyers taking advantage of historically good housing affordability conditions, according to the National Association of Realtors^®

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, increased 3.2 percent to 84.6 from a level of 82.0 in February, and is 1.1 percent higher than March 2008 when it was 83.7.

Lawrence Yun, NAR chief economist, said it should take a few months for the market to gain momentum. "This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a downpayment," he said. "We need several months of sustained growth to demonstrate a recovery in housing, which is necessary for the overall economy to turn around." Let's take a look at the March sales statistics to see how the Montgomery AL real estate market looks:

Montgomery AL real estate sales statistics for April show pending sales increased by 12% in 2009 compared to April 2008, the average sales price increased by 1% to $124,291 while sold listings were up 6% from 2008. Market times showed a decrease of 2 days or 2% from 2008.

For the latest Montgomery AL real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

Spring is here! If you are thinking of selling your Montgomery home this spring, now is the time to start getting ready to sell. Below are 5 things to do before putting the ‘For Sale' sign in the yard:

1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you'll be able to make repairs before open houses begin.

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don't plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Spruce up the curb appeal. Pretend you're a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?

Learn more about selling your Montgomery home at HatTeam.com.

What is your Montgomeryhome worth?

www.REALTOR.org/realtormag Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® . Copyright 2003. All rights reserved.