HUD Foreclosure in Madison, AL, $150,000

For Sale: BR/BA Multi-Family in Madison, AL, $150,000

Shared via AddThis

Huntsville Area HUD Foreclosure Harvest, AL, $75,000

For Sale: 3BR/2BA Single Family House in Harvest, AL, $75,000

Shared via AddThis

5000.00 City of Huntsville First Time Homebuyer REBATE!

Down payment Assistance Program (DAP)

The City of Huntsville Community Development Department and the Alabama Housing Finance Authority provide first home purchase down payment and/or closing cost assistance. The assistance is available on a first-come, first-served basis, until funds run out.

$5000 is provided at time of closing to be used exclusively for the down payment and/or closing costs associated with buying a single-family home. The $5000 is a 0% interest deferred loan with no monthly payments. The loan is gradually forgiven by 20% per year and is totally forgiven after the buyer has lived in the home for five (5) years.

Eligibility Requirements
To be eligible, a participant must:

1. Have not owned a home within the last three (3) years (some exceptions may apply)
   
2. Complete a Homebuyer Education Course (provided by FSC at no charge)
   
3. Have $500 in personal savings account for home maintenance prior to loan closing
   
4. Purchase home within Huntsville City Limits (including areas annexed by Huntsville)
   
5. Purchase home costing no more than $150,000 with monthly payments that FSC has verified to be affordable
   
6. Purchase home that passes code inspection by City of Huntsville before closing
   
7. Have income at or below 80% of the area's median income based on family size
   

Now is a GREAT TIME to buy a Huntsville area house! Mortgage rates are at a 50 year low!

Contact me for more information on how to participate in this program, or for help in finding or selling your Huntsville Alabama Home.

Walter

Buying a Foreclosure

In today's foreclosure rich real estate market is very essential that you understand the numbers and the stats of your market. Even though prices are lower than they have been in years, it is still easy for buyers to make big mistakes that cost them in the long run. Here are 5 tips to help make sure that you are making a great move.

Research the area:

Have to put together the detailed report of the properties that interest you, your work is not completed. In now need to look at the surrounding areas such as the surrounding homes, the schools of the area, how fast the property values increase in the area, what type of recreational activities around the area, and the overall convenience of location. Finding this information out before you view the property can save you a lot of time during the real estate buying process, and can eliminate the need to drive all over town just a look at homes that do not interest you. Contacting a professional buyer agent in the area is probably the best way to get this information.

View the properties:

When you have a good list of properties to view you're probably going to need to schedule appointments to view ridge property. This is where you need to double check the listing information to make sure it is accurate. Remember that the information on the listing is from the listing agent or from the owners and is not necessarily 100% accurate. Make sure you take a look in detail of the home. Think about things like water in the crawlspace, roofing, carpet, plumbing, heating, AC, and sprinklers. But ask as many questions as you can either to your buyer's agent, the listing agent, or the owner themselves. You might even want to talk to the neighbors.

How much should you pay:

Once you have taken a look at all the properties that matched your criteria, you need to start thinking about what price you willing to pay for your favorite property. You need to consider the most recent appraisal of the property, the sold comps of the area, and the actual market value of property. Also take into consideration any improvements that you will need to make after you purchase the property such as carpet, paint, and structural changes. You also need to consider the amount of time the property has been on the market.

Offer on the property:

There is a different strategy when offering the property and especially when it is a foreclosure property. If you go too low the bank will flat out denied your offer. You must understand that banks will not negotiate on their bottom line, but they are looking to make as much money on the transaction as possible. Sometimes banks will throw off the deal based on a difference of only $1000. Typically one property not selling is not going to break the bank. They have rules and regulations that they stick to very closely, and if your offer does not meet their criteria they will either counter your offer or reject it. With that in mind make sure you take everything into consideration before you make your offer and have a good buyer's agent on your side to help with the negotiations.

There are so many great deals out there right now. If you're looking to buy as an investor or as a homeowner, right now is an ideal time to start the process. Take advantage of the market numbers, and get a great deal today.

Contact Walter Jones for more information, or to start your home search today!

Article Source: http://EzineArticles.com/?expert=Ben_Janke

When Is a Real Estate Agent a REALTOR®? Huntsville Alabama Real Estate Info

A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION OF REALTORS®, The Voice for Real Estate®, the world's largest professional association. The term "REALTOR®" is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and abides by its strict Code of Ethics.

Founded in 1908, NAR has grown from its original nucleus of 120 members to more than 1 million today. NAR is composed of REALTORS® who are involved in residential and commercial real estate as brokers, salespeople, property managers, appraisers, counselors, and others who are engaged in all aspects of the real estate industry.

Members belong to one or more of 1,700 local associations/boards and 54 state and territory associations of REALTORS® and can join one of our many institutes, societies, and councils. Additionally, NAR offers members the opportunity to be active in our appraisal and international real estate specialty sections. REALTORS® are pledged to a strict Code of Ethics and Standards of Practice.

Working for America's property owners, the NATIONAL ASSOCIATION OF REALTORS® provides a facility for professional development, research, and exchange of information among its members.



Are you in need of Huntsville and North Alabama Real Estate information? Contact me anytime for the latest information about buying and selling real estate!

Walter

Take the Stress Out of Buying your Huntsville Area Home

Buying a home should be FUN, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.

1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. It's critical that the Huntsville area REALTOR® you chose is both highly skilled and a good fit with your personality.

2. Remember, there's no "right" time to buy, just as there's no perfect time to sell. If you find a home now, don't try to second-guess interest rates or the housing market by waiting longer — you risk losing out on the home of your dreams. The Alabama housing market usually doesn't change fast enough to make that much difference in price, and a good home won't stay on the market long.

3. Don't ask for too many opinions. It's natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family — the people who will be living in the home.

4. Accept that no house is ever perfect. If it's in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.

5. Don't try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to "win" by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.

6. Remember your home doesn't exist in a vacuum. Don't get so caught up in the physical aspects of the house itself — room size, kitchen, etc. — that you forget about important issues as noise level, location to Huntsville, Athens, and Madison amenities, and other aspects that also have a big impact on your quality of life.

7. Plan ahead. Don't wait until you've found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be costs. Don't leave yourself short and let your home deteriorate.

9. Accept that a little buyer's remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Don't lose sight of why you wanted to buy a home and what made you fall in love with the property you purchased.

10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home's most important role is to serve as a comfortable, safe place to live.

Are you ready to begin your Huntsville, Madison, Athens, and all of North Alabama Home Search? Contact me anytime to begin the process, or for some no obligation information and advice. Don't forget there are many Foreclosure deals out there, both Bank Owned and HUD Government foreclosures, many of them move-in ready!

Walter

The time to buy a Huntsville and North Alabama foreclosure or investment property is NOW!

With the housing market at an all time low and it being such a buyer's market, there has never been a better time to purchase Huntsville area estate than right now. For this reason many first time home buyers are searching the lowered prices for homes that they can move into instead of renting. Likewise, the current trend is attracting investors who are wishing to amass more property to add to their portfolio, Those who were never interested in investing and those who felt they could not afford it are also jumping onto the trend to make some additional money by purchasing North Alabama rental properties, flipping houses, or buying inexpensively to sit on the homes until the market once again takes an uphill swing.

The seasoned investors know what they are doing and are taking full advantage of the lucrative opportunities afforded them. However, the novice investor may struggle a bit as they try to navigate through the sometimes complicated world of real estate investing and purchasing investment properties. There are several do's and don't tips from the professionals that budding Huntsville and North Alabama real estate investors can learn from to help with their investing strategies.

Some do's to consider before investing include:

• Do analyze your finances and make sure you can afford to take on an investment property. You do not want to become over extended with your income or credit and find yourself in financial straits because you took on too much.
• Do make sure you get prequalified for a loan so that you only look for investment properties that fall within your budget.
• Do make sure you research the current market trends, especially in the area in which you plan to purchase. Check out recent sales for comparable houses in the area.
• Do be sure to hire a competent Huntsville and North Alabama real estate agent or legal counsel to help with paperwork and make sure contracts are favorable to you.
• Do make sure you are prepared for the risks involved in investing and have the ability to choose properties that are sound.
• Do make sure you fully inspect properties to ensure there is no maintenance or repairs needed that will significantly change the total cost of your investment. If you are looking at fixer upper homes, make sure you have the available capital as well as professionals to get your property up to code as quickly and inexpensively as possible.

Some things you may want to avoid when investing in property:

• Don't over estimate the value of rental properties. You will need to be prepared for the house to be vacant for some time and to possibly have potential rental revenue that may not meet your mortgage payment amounts.
• Don't be swayed into purchasing a property that seems too good to be true. Use your head as well as your instincts and treat the transaction as a business proposal.
• Don't get invested emotionally in the process of buying a particular house. Know when to walk away from a deal.
• Don't rely on the seller's documentations. Always have an independent consultant verify title clearances, valuations and inspections.
• Don't deal with the transaction entirely yourself. The paperwork alone can be daunting and can cost you a lot of money in the long run if something is missed. Hire professionals to make sure everything is in order.
• Don't be in a hurry to find an investment property. This will cause you to be sloppy and make poor decisions. Do your due diligence and get the best property you can find.

I can help you find your Huntsville and North Alabama investment property. I stay current on Huntsville bank owned properties, and HUD government foreclosures. As a Huntsville area buyer's agent I represent YOU, not the seller, so I negotiate hard on your behalf. Contact me for any real estate advice. No obligation, of course! Walter Article Source: http://EzineArticles.com/?expert=Luke_Bouman