July 2010 Madison County Home Sales

bklimer@gmail.com — Sat, 14 Aug 2010 16:10:14 +0100

Here are the latest market updates for the North Alabama area for the month of July 2010.

Sold Terms and Market StatisticsCriteria: Status: S, Category: Residential
Statistics for Entire Mls from 7/1/2010 to 7/31/2010Category:1
Property Type:SF,CO,FH,PH,MH,TH,PS,PN,PT,PP
Area:01,02,03,04 [...]

What is a Short Sale?

pshoop@gmail.com — Wed, 30 Jun 2010 06:00:00 +0100

A short sale is a real estate transaction where a lender or lenders approval is required to complete the sale of the property. There are many short sale scenarios. Sometimes the banks will write off the debt, or convert the debt to a non-secured loan while releasing the lien against the property. Each bank has its own policies and pr [...]

Why So Many Short Sales Never Reach A Closing Table

pshoop@gmail.com — Wed, 17 Feb 2010 06:00:00 +0100

Many short sales never actually make it to a closing table. There are many ways a short sale can fall apart. There are also more decision makers than you would see in a normal transaction. It is important for all parties involved to have a clear understanding of reasonable expectations and the process.
In a short sale there are at le [...]

Difficulties of Second Mortgages When Negotiating Short Sales

pshoop@gmail.com — Wed, 09 Dec 2009 06:00:00 +0100

In the not so recent past a first and second mortgage when purchasing a property was very popular. Negotiating short sales with a second mortgage comes with some extra challenges. These challenges multiply when the mortgages are with different lenders. Add a buyer who will need loan approval and you are walking the ultimate tight rope.

How Short Sales Effect Your Credit

pshoop@gmail.com — Wed, 22 Jul 2009 06:00:00 +0100

Many people don't understand how a short sale will affect their credit. The short sale itself does not harm one's credit in any way. It is possible to complete a short sale without having a major impact on the person's credit. We are going to go through several scenarios to explain short sale options and the ramifications of each scenario.

[...]

Alabama, Huntsville housing affordability jumps

pshoop@gmail.com — Fri, 15 May 2009 06:00:00 +0100

Alabama home prices, including those in Madison County, are more affordable than ever, according to a University of Alabama study released Friday.

The Alabama Housing Affordability Index for the first quarter reached 210.4, the highest number on record, according to the study.

The affordability index is defined as 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 mone [...]

Recap- Huntsville Foreclosure Express April 25th Tour

pshoop@gmail.com — Sat, 25 Apr 2009 06:00:00 +0100

Our April tour was held on another day with sunny and beautiful weather! We featured 9 properties, down from 10, as one just went under contract the day of the tour. We started in Southeast Huntsville at a HUD home and then swung just outside the 5 Points area to another HUD Home. The remainder of the tour was in the Madison and West Huntsville area where we saw a couple move in-ready builder foreclosures and a [...]

Madison County home sales jump 20 percent

pshoop@gmail.com — Mon, 20 Apr 2009 06:00:00 +0100

Sales of single-family homes in Madison County jumped nearly 20 percent in March, the Huntsville Area Association of Realtors reported Monday.

The increase - from 284 homes sold in February to 340 homes sold in March - marks the second consecutive month to see an increase in sales. In January, 268 ho [...]

Madison County Home Sales Statistics- March 2009

pshoop@gmail.com — Thu, 09 Apr 2009 06:00:00 +0100

Statistics for Entire MLS from 03/01/2009 to 03/31/2009

Sold TermsTotalAvg List $Avg Sold $Avg DOMAvg $/SF%SP/LPCash37$118,144$111,46889$6294.35%Convention131$221,154$214,01194$8996.77%FHA102$149,705$146,78886$8298.05%FMHA6$119,204$117,58378$8298.64%Lease0$0$00$00.00%Other8$125,660$122,97567$8197.86%Own Financ1$549,000$549,000579$128100.00%Trade Down0$0$00$00.00%Trade Up0$0$00$00.00%VA31$234,373$230,89580$9198.52%TOTAL316$184,011$178,88690$8397.22 [...]

Wall Street Journal Notices Strong Local Economy

Tue, 31 Mar 2009 06:00:00 +0100

Many Smaller Cities Dodge Crunch in Consumer Lending

Wall Street Journal | MARCH 30, 2009

Consumer-lending activity has increased in numerous midsize cities in the U.S., a sign they are riding out the recession better than big cities and rural towns, an analysis of credit data shows.

As banks pull back on risk taking across the nation, consumer-loan balances in places like Huntsville, Ala., are rising. In Huntsville, a metropolitan area of 376,000 that is home to [...]

First Forclosure Tour was featured in the Huntsville Times

pshoop@gmail.com — Tue, 10 Feb 2009 06:00:00 +0100

Prospective buyers given look at what's out there; homes ‘do need work'

One by one, they stepped from the charter bus into the late morning sun, carrying clipboards, pens and cell phones. They made notes and took pictures of the three-bedroom, bungalow-style house in southwest Huntsville. They gazed at stained carpet, missing soffit and fasc [...]

Recap- Huntsville Foreclosure Express February 7th Tour

pshoop@gmail.com — Sun, 08 Feb 2009 06:00:00 +0100

Our February foreclosure tour featured 11 homes on a rare sunny and unseasonably warm day. We started out in West Huntsville in a sub-division with a lot of builder foreclosures and move-in ready houses. We followed up by visiting two "fixers" which were a HUD home and bank owned property on the same street in SW Huntsville. We then swung up into Madison, to visit a couple properties, including a short sale. Next stop was Northwest Huntsville to visit [...]

All aboard: Realtors offer bus tour of foreclosed homes

pshoop@gmail.com — Sat, 17 Jan 2009 06:00:00 +0100

We had a story about us in the Huntsville Times!

Heres the print version

Below is the web version of the article. How exciting!

_______________________________________________

Program will include wide range of prices

You'll see them in places hit hardest by the housin [...]

Huntsville foreclosures skyrocket during 2008

pshoop@gmail.com — Sat, 17 Jan 2009 06:00:00 +0100

But area still better off than most of country

Foreclosures are up in Huntsville - way up.

According to RealtyTrac, 825 homes in the Huntsville market entered some phase of the foreclosure process during 2008, compared with 76 filings in 2007 and 73 in 2006.

But, as an overall trend, Huntsville is still much lower than most of the country, according to RealtyTrac numbers released Thursday.

Foreclosure activity in Huntsville represents only about 0.50 p [...]

Market Status January 2009

pshoop@gmail.com — Thu, 01 Jan 2009 06:00:00 +0100

The Huntsville real estate market has largely avoided the nationwide decline in real estate values. In fact the average home price in Huntsville has continued to rise. This makes finding foreclosures a little more challenging, as many times people who are facing foreclosure have the option of trying to sell the property at market prices. An average days on market for properties in Huntsville at about 3 months, also means inventory moves fairly quickly, enabling peo [...]

Huntsville Voted Best Place to Live by Forbes Magazine

Mon, 15 Dec 2008 06:00:00 +0100

According to a recent article in Forbes Magazine, it ranks Madison County as the top county in the nation to live!

The magazine primarily stated it was due to the affordability of housing and low property taxes that contributed to the #1 ranking! Madison County came in third for lowest property taxes in the nation with an average property tax bill of $577! In addition to the real estate affordability, the magazine cited the diversity of Huntsville's econo [...]

52 area homes in foreclosure

pshoop@gmail.com — Sat, 13 Dec 2008 06:00:00 +0100

Alabama figures down more than 26% since October

A new report shows the number of Alabama foreclosures was down more than 26 percent from October to November and dropped seven percent from last November.

In Alabama, 613 properties entered foreclosure, or one for every 3,442 households, in November, according to RealtyTrac, based in Irvine, Calif. In October, the state had 836 properties enter foreclosure, or one for every 2,524 households.

Alabam [...]

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