Toni Bird

Helena Alabama is a community located just south of Hoover Alabama. It is within a short commute to downtown Birmingham. This community has many "starter homes" and several newer, move up neighborhoods.

Home sales in Helena Alabama remained consistent in July with 38 sales (there were 36 in June). The average salesprice was $190,469 with prices ranging from $106,000 for a 2 bedroom, 2 bath townhome in Rocky Ridge to $367,000 for a 4 bedroom, 3.5 bath in Riverwoods. The median price was $179,900. The average days on the market for sold properties was 64.8. Currently there are 262 properties on the market in Helena which represents a 7.08 month supply.

Looking for a new home? Search for a home in Helena, Alabama or the Greater Birmingham Area at my website www.ToniBird.com.

If gas prices are getting you down, then Homewood Alabama is a great place to live. Just 5 minutes from Bedroom to Downtown Birmingham, you will save lots of dollars commuting to work. Here you will find a variety of residences with several condos and townhomes priced below 100K to quaint neighborhoods with sidewalks priced up to 1 million.

The Real Estate market in Homewood appears to have stabilized. In July we had 43 closings, up one from June at 42. The average salesprice was up a bit from $250,977 in June to $265,736 in July. A year ago the average salesprice was $280,040. Sales ranged from $79,900 for a 1 Bedroom 1 Bath condo at Woodland Village to $578,000 for a 4 Bedroom, 3.5 Bath in Hollywood. The median price was $230,000. Currently there are 353 Homes on the market which represents an 8.2 month supply (down from 15 in October ‘07).

If you would like any specific information about YOUR neighborhood, or to sign up for Hot Breaking News about new listings, call me at 205-821-3312 or send an e-mail to Toni@ToniBird.com.

Hoover Alabama - A City of Parks

I love trees and I love to be outdoors (except for those really hot days of summer). Spring and Fall are incredible - clear days, moderate temperatures AND plenty of places to hike, picnic and spend time with your family outdoors. Summer mornings before 9:00 are also quite a treat.

Hoover is home to the Moss Rock Preserve and Aldredge Botanical Gardens. These are world class parks that attract visitors from all over the state. Aside from these, Hoover supports 5 Community Parks and 3 Neighborhood Parks.

Today I was at the Howard Lake Park. This Community Park is located right next to the Hoover Municipal Building and across the street from the Hoover Library and the Hoover Recreation Center. I guess this would be called Hoover's downtown park. There is a little A frame house (The Lake House) that overlooks the 3 acre lake and you can rent it for receptions. There is also a walking trail that goes around the lake and wildlife that thinks you might have a special treat for them. If you are working out at the Hoover Rec Center (which is a phenomenal exercise facility for Hoover Residents only), and you want to step outside for some fresh air - this walking path is a great change of pace.

Many of the neighborhoods in Hoover maintain their own playgrounds and/or parks. The Preserve, a new TND located only a couple of miles from the Howard Lake Park has multiple parks within the neighborhood. The theory there is that no one is more than 5 minutes walking distance form a park.

Thinking about buying a new home and would like to be close to a park, let me help. I can be reached at www.ToniBird.com. Hoover Alabama has Homes for Sale in all price ranges only a short distance from special places where you can enjoy the outdoors.

Over the last week, I've had a lot of people ask me about the New Tax Credit. This was part of the housing bill that President Bush signed at the end of July. As with any new bill, it takes a while to figure out all the kinks.

Good news is, if you are a first time home buyer (and a 1^st time home buyer is defined as someone who hasn't owned a home in the last 3 years), then you can qualify for a $7,500 TAX CREDIT on your 2008 or 2009 taxes. I tax credit is better than a deduction because it is subtracted directly from the amount of tax you owe. The credit works on a primary residence that you purchase between April 10, 2008 and June 30, 2009. The tax credit is actually 10% of the purchase price, so if the house only cost $65,000, you would only receive $6,500.

There is nothing that you have to apply for in advance. The credit will be claimed by you when you file your income tax return.

There ARE income limits. If you make under $75,000 personally or 150,000 as a married couple you are eligible for the whole $7,500 amount. If you make up to $95,000 as a single and $170,000 as a couple then you have a "phased out" amount that you can claim. Over $95,000/$170,000 you get nothing.

A lot of people want to know how they can use the $7,500 credit for their down payment. Well, you can't. You don't get the money back until AFTER you file your tax return. So, you will still need to save up for that down payment. One thing you CAN do, though is reduce the deductions you claim on your W-4 (the withholding form at your employer), that way you will take home more money each month in your paycheck. If you are self employed, you can make similar adjustments on your estimated payments.

On thing to note is - this tax credit has to be paid back over the next 15 years. Starting with your tax return in 2010, an amount equal to 6.67% of the total credit you took will be added to the amount of tax you have to pay. This is a little over $500. There is no interest that will be added to it, so it is essentially an interest free loan, but you DO have to pay it back.

It seems like the more you know about these things, the more questions you have!! If you would like to learn more about the tax credit portion of the housing bill signed in July click here to read Frequently asked Questions published by the National Association of Realtors.

If you were waiting for something great to happen THIS IS IT. There is a good variety of Homes for Sale in Hoover Alabama. Interest rates are still low and now you get a credit - Not a deduction, so you will pay up to $7500 in less tax.

If you haven't already done so, now is the time to contact a lender and get pre-approved for a loan. You can shop for houses on line at my website www.ToniBird.com, When you are ready to Buy A Home in Hoover Alabama or the Greater Birmingham area, contact me and I'll help you find the home of your dreams.

As of October 1, 2008 the FHA will no longer insure loans using Third Party Down Payment Assistance Programs.

You will still be able to get help from a family member or church, but the programs where the seller was actually asked to foot the bill are going away. These have names like Ameridream and Neimiah. There has been a LOT of discussion about how this action will help or hurt the housing industry. Now these programs were created with the idea that they would "help" people who wouldn't otherwise be able to afford a home get into one. Now I believe in helping people, but I don't believe in helping people get into something that will later become a disaster - like a foreclosure.

These programs emphasize the fact that you need "No Money Down" to buy a house. I believe saving up to buy a house is a good idea. Now it shouldn't have to be some huge unattainable amount - but save something and pay your own way. A house is a wonderful way to build savings through home equity and helps develop personal pride. Too many people, however, are living paycheck to paycheck and if something goes wrong, they have no safety net to take care of their home. Developing a "Savings Habit" before buying a house is a good thing.

When I sold my mother's house last February, I was so excited for the couple who bought the house. My husband and I had worked SO HARD to make the house looked good, we put in a new HVAC unit, and we had fixed everything we could tell was wrong with it. The couple had never owned a house before and they had three children. Each child was going to have their own room and the kids were very excited as well. I felt they loved the home and would take good care of it. I know that sounds a little emotional, but my mother had loved that home and I wanted its new owner to have that same feeling for it.

This couple was living paycheck to paycheck. How do I know this? They asked me to pay ALL the closing costs. I knew they were getting their down payment from a down payment assistance program because the loan approval said so. Also, they had only put down $500 in earnest money and when I asked for another $500, they had to wait 2 weeks until they got paid to put down the rest.

In the negotiations, we raised the sales price by $5000, which means they needed to raise their mortgage amount by 5K more and needed to qualify for $45 per month more in house payment. They had to get a special letter from their employer saying they could rely on overtime to qualify for the payment. They were stretched to the limit -like so many people are when they buy a house.

But, they were able to get in the house of their dreams and everyone was SO HAPPY. They were talking about getting new furniture and the bar-be-ques that they would have, how the garden would look, and the happy memories they would make with their family.

Last month I got a letter from the tax assessor's office saying the taxes would be going up $1900 for the year since my mother wasn't living in the house on January 1^st. I tried to fight it, but that was the rule. Since the mortgage payment includes 1/12^th of the tax amount each month, that means their mortgage payment was going up $160 per month. Plus, they hadn't been escrowing the extra $160 from February to August so they were going to be even shorter at tax time.

If you are living paycheck to paycheck, how do you handle an increase of $160 per month on your mortgage payment? That is not $160 for a refrigerator or more house, it is "just because of some rule". This is similiar to the rate increases that people have seen on their adjustable rate loans - a raise in your payment and nothing to show for it. Now, I am worried that this couple with their three kids won't be able to pay the increased mortgage payments and will default on the mortgage and ultimately loose the house. I'm seeing the happiness of closing day turning into frustration and despair.

The foreclosure rate for loans with down payment assistance is higher than regular loans where people have to save for a down payment. Does every mortgage like this end in foreclosure CERTAINLY NOT. Not everyone has a terrible situation happen in the first year. Many people would work a second job to be able to afford the payment and keep their house. But if you are will to do those things to keep from going INTO foreclosure wouldn't it be better to do them in the beginning to work toward buying the house. Having a savings account safety net sure would make things easier.