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

8 Tip Guide for Your Huntsville and North Alabama Real Estate Search

1. Research before you look. Decide what features you most want to have in a home, what North Alabama neighborhoods you prefer, and how much you'd be willing to spend each month for housing.

2. Be realistic. It's OK to be picky, but don't be unrealistic with your expectations. There's no such thing as a perfect home. Use your list of priorities as a guide to evaluate each Huntsville area property.

3. Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a local Huntsville lender and get prequalified for a mortgage. This will save you the heartache later of falling in love with a house you can't afford.

4. Don't ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion, but be ready to make the final decision on your own.

5. Decide your moving timeline. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? All of these factors will help you determine when you should move.

6. Think long term. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in this home for a longer period? This decision may dictate what type of home you'll buy as well as the type of mortgage terms that will best suit you.

7. Insist on a home inspection. If possible, get a warranty from the seller to cover defects for one year.

8. Get help from a REALTOR®. Hire a real estate professional who specializes in buyer representation in the Huntsville and North Alabama area. Unlike a listing agent, whose first duty is to the seller, a buyer's representative is working only for you. Buyer's reps are usually paid out of the seller's commission payment.

Any other questions? Contact me anytime for more information at no obligation.

Walter

Huntsville Alabama Mortgage Historic Rate Drop!

Huntsville mortgage rates experienced a historic drop this month. 30 Year rates fell from 5.97 to 5.53. This is the lowest rates have been since January 2008. But I think this understates how low mortgage rates are this week so I did a little research. Since 1974 rates have been lower than today's rates only four times. Below are the dates and Huntsville and North Alabama mortgage rates.

1) June 2003 5.23
2) March 2004 5.45
3) May 2003 5.48
4) January 2008 5.48
5) December 2008 5.53

Although we looked over a period of 34 years it was interesting that three of the four months with the lowest mortgage rates were in 2003 and 2004. This was basically when Greenspan was cutting the fed rate to prevent the US from going into a recession. A lot of people now blame Greenspan for causing the housing bubble and our current problems. While he might be partially to blame personally I think the massive number of subprime loans (basically loans to people that have a poor credit history) and interest only loans contributed to the problem as well.

The main difference between today's low rates and the rates we saw in 2003 and 2004 is that 5 years ago pretty much anyone with a pulse could get a loan. In the current market rates are low but banks are much more restrictive about giving out loans.

Below are rates for the last few weeks.

December 4, 2008
30-yr 5.53 15-yr 5.33 5-yr ARM 5.77 1-yr ARM 5.02

November 26, 2008
30-yr 5.97 15-yr 5.74 5-yr ARM 5.86 1-yr ARM 5.18

November 20, 2008
30-yr 6.04 15-yr 5.73 5-yr ARM 5.87 1-yr ARM 5.29

November 13, 2008
30-yr 6.14 15-yr 5.81 5-yr ARM 5.98 1-yr ARM 5.33

November 6, 2008
30-yr 6.20 15-yr 5.88 5-yr ARM 6.19 1-yr ARM 5.25

It interesting that 5 year rates are significantly higher than 30 year rates. This is the first time 30 year rates have been significantly lower than the 5 year ARM. It pretty much means 5 year rates are pointless at this point. There is no real reason to get a 5 Year ARM when you can get a better rate on a 30 year loan.

Looking at mortgage rates is one thing but let's translate this into mortgage payments. Using our mortgage calculator we translated today's mortgage rates into a mortgage payment on a 200k house. For good measure we did the same thing with last weeks rates and last months rates.

December 4th
30-yr $1139.34
15-yr $1616.18
5-yr ARM $1169.68
1-yr ARM $1076.08

November 26th
30-yr $1195.24
15-yr $1659.74
5-yr ARM $1181.15
1-yr ARM $1095.75

October 30th
30-yr $1258.87
15-yr $1708.31
5-yr ARM $1245.77
1-yr ARM $1120.56

Looking back to October 30th we can see that payments have come down $119.53 or about 10%. This is pretty substantial. In contrast payments on a 1 year arm have only fallen by $44.48 or about 4%.

So what is going to happen moving forward? I would expect continued wild fluctuations in the mortgage market. We have been seeing large one week changes for the last month and there is no reason that we will not see more wild swings moving forward. Therefore if you are considering a house I would lock in at current rates instead of waiting.

So what about the proposal being considered by Congress to push rates down to 4.5%? I can't say for certain if this will happen or not. It looks on track to pass now but that could change. If it does pass I think it will spur a lot of real estate activity. It's not just that rates will be lower but getting rates below 5% is kind of a psychological barrier. I think just seeing rates that are 4.5% will grab people's attention. But that said if there is an increase in activity I expect prices to move up. I highly doubt they will recover to what we saw a year or two ago but we will probably see higher prices than what we are seeing today at least temporarily. After the initial shock has worn off the economy will probably determine what happens with real estate prices. What this means? NOW is a GREAT time to search and find your next home in Huntsville, Madison, Athens, or all of North Alabama. Contact me. I'm happy to help. Walter Article Source: http://EzineArticles.com/?expert=Ki_Gray

Buying Huntsville and North Alabama Foreclosures

Buying a house is a lifetime decision which should be taken carefully and most buyers are worried about our current economic conditions which makes it difficult for them to purchase their dream homes. In this situation, Foreclosed homes are the best option which many first time buyers and investors of real estate can opt for purchasing their homes and saving money.

Huntsville AL Foreclosures for Sale - An Insight

Foreclosed homes are default loan cases by banks and other government authorities where the borrower defaults on the loan payments and has to vacate the premises as the lender exercises the mortgage right to take the property back. The lender proceeds with the foreclosure sale process by making a public announcement for the auction on internet and in the local newspaper inviting bidders to participate in the bid process. The bidders participate in the auction on the specified date and the base price is the outstanding loan amount which is usually less than the property market prevalent price. This is most beneficial to the buyers as they can avail cheap rates on the property as the lender is interested only in recovering the loan and is not there to make profit.

Huntsville AL Foreclosures for Sale - An Investment Opportunity

Most first time buyers and investors of real estate are interested in foreclosed homes for sale and this helps them in availing attractive homes at cheap prices. By purchasing a foreclosed home, the buyers can save loads of money and avail property at almost 20 to 30 % cheap than the original price. The buyers should check for some key features before initiating the process as it could be risky if the calculation goes wrong. The buyers should personally inspect the property for any cosmetic damages. These are repairable and the buyer can request the seller to do the repairs which can save extra money. If the property has structural problems, buyer should avoid buying as it can be a loss making idea. The buyer after confirming the condition of the property should also check for neighborhood prices in order to understand the discount involved in the purchase. Checking of other liabilities on the property should be done by buyer which will help in escaping additional burden after purchase. Once there is clarity on all areas, the buyers should plan to arrange for the initial payable amount in the auction.

Huntsville AL HUD Foreclosures for sale – Another Option worth Considering

A HUD Foreclosure is a home that was financed with a government loan (FHA, VA, etc.) that have foreclosed. Owner/Occupants are given first priority to bid on these, and they also are an excellent way to purchase a home for less than market value.

By searching online one can find various homes for sale but foreclosed homes for sale still remain the best option for most buyers and can be used to save money.

Contact me for more information about the Huntsville and North Alabama Foreclosure Market.

Walter

Choosing a Huntsville and North Alabama Real Estate Buyer’s Agent

A Huntsville and North Alabama real estate buyer's agent can be a big help if you are looking for the perfect property. Having an experienced person that knows the industry on your side is an asset and one that should not be underestimated. There are so many things to keep in mind when purchasing any kind of property that a real estate buyer agent is actually necessary since they know what to expect, where to look and understand the purchasing process.

When it comes to real estate, the location and price range are of utmost importance. The general area to look is relatively easy to determine, but a specific area requires knowledge of the towns and neighborhoods. Especially those with school-aged children will have to keep other things in mind such as school district and child friendliness of the neighborhood.

A Huntsville Alabama real estate buyer agent can help with all of this since they know the insides and outs of the entire area and can make valuable recommendations. Since better areas cost more money than others that are not so desirable, you will have to know what the maximum amount you can afford is.

This is not easy to do, but a real estate buyer agent can help you with this too. For one they can refer you to reliable mortgage lenders in the area who can get you pre-approved for a loan and they can also give you a rough idea of what you will be able to afford on your budget. Once they know what a lender is willing to give, then they will look for the best real estate buys in this range.

They also can take you to the places and you won't have to worry about getting lost because they know the area very well. Another advantage of having a real estate agent when buying is that they can also give advice and write up the offers for a property. They know how to bargain and how to get the best price so you will also save money by having their help. Remember: The Realtor whose name is on the sign represents the SELLER, not YOU. They are negotiating on behalf of the seller. (if they are a good Realtor) You should always work with a buyer's agent! Contact me anytime for more information. Walter Article Source: http://EzineArticles.com/?expert=David_Au_Johnson

7500.00 Tax Credit for First Time Home Buyers!

The IRS is allowing a "Tax Credit" for 1st Time Home Buyers up to 10% or

$7,500....received when they file their 2008 tax return.

Below is a little information on this credit...

COPIED FROM IRS WEBSITE:

Who is eligible to claim the $7,500 tax credit?

First time home buyers purchasing any kind of home—new or resale—are eligible

for the tax credit. Contact Jennifer Taylor with Colonial Bank to pre-qualify. To qualify for the tax credit, a home purchase must occur on or after April 9, 2008 and before July 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs.

Is there any way for a home buyer to access the money allocable to the credit sooner than waiting to file their 2008 tax return?

Yes. Prospective home buyers who believe they qualify for the tax credit are permitted to reduce their income tax withholding. Reducing tax withholding (up to the amount of the credit) will enable the future home buyer to accumulate cash by raising his/her take home pay. This money can then be applied to the down payment. Buyers should adjust their withholding amount on their W-4 via their employer or through their quarterly estimated tax payment

Feel free to contact me with any questions ...

Thanks!

Walter Jones

100% Financing is BACK!!!

IT'S HERE!!!! 100% Alabama Housing Bond Money: Released Today! (08-27-08)

The First Step Bond Program through Alabama Housing Finance Authority has just been released. Colonial Bank is happy to be a participating lender for this zero down payment program. $30,000,000 has been allocated at a rate of 5.875% fixed for 30 years. There are sales price limits of $289,705 for Target Areas, and $237,031 for Non-Target areas. It's not just for first time home buyers! Search the entire Huntsville, Madison, and Athens MLS to find a property then contact me and I will help you negotiate the best price on your next home!

Pre-qualification simply means you haven't been ruled out for any particular loan program. But a pre-approval means your credit, income and assets appear to satisfy all of the requirements for the loan of your choice. Today, credit scores are more important than ever! No one wants to waste time. Allow myself and your choice of a mortgage professional help you with your Huntsville and North Alabama Real Estate needs. Our real estate market in North Alabama is still as strong as anywhere in the country, and it will continue to grow stronger as the BRAC relocation brings more opportunity to the Huntsville and North Alabama area.

Why I HATE Commitment

Got your attention didn’t I? Not talking about THAT. (That’s another post for another day) Actually I’m talking about the dreaded EXCLUSIVE Agreements that most Realtor’s will try and get you to sign before they will show you property.

Here is why: I spent the better part of 20 years in the restaurant business. When I didn’t give good food or service, they went somewhere else. Most of the time they wouldn’t tell me; most people don’t like to complain. I did always welcome a customer concern though, because it gave me an opportunity to correct something that was off track. I couldn’t always see everything that was going on.
As a Realtor, I have tried to use that same philosophy with my customers. When initially working with someone I want them to know that I have their best interests in mind. That is a trust that isn’t created in a ten minute evaluation of the properties they are interested in. Just like in the restaurant business though, I understand, especially early in the process, that there are plenty of Realtors out there (and even a GOOD one or two) that would be happy to work for them.

By the time we make our first offer on a home sometimes I will ask for an agreement though. It gives me the opportunity to explain what I am bound by law to do, and what I cannot do. It also gives my customer protection from getting “hi-jacked” by someone else.
Listing a property is a little different. Everything needs to be in writing, up front, and clearly understood by everyone. HOWEVER, you should always be given the option of getting out of your contract, preferably with a written form that your Realtor gives you that allows you to pull your listing from them if they are not doing the job they promised.

So the next time you are interviewing a Realtor, make sure they don’t ask for a commitment before they get to “first base”

North Alabama Real Estate Statistics for July 2008

OK so I'm looking at the July statistics and I pulled up the June statistics for comparison, KNOWING that there would be significant changes in things like sold-to-list ratios (How much people are getting for their homes versus asking price) and also DOM (stands for days on market)

Well I had to rub my eyes because the numbers were virtually unchanged! At first I thought I had pulled the same report twice! I had expected to see both an increase in DOM and a lower price-to-sell ratio. The DOM was 97 for both months. One year ago it was 71, so there has been some slowing of our market. The p2s ratio was 97.83% for June and July was 97.93%, again unchanged. What this means is that for the average 100,000 home, in July the sellers got 97,930.

So DON'T WATCH THE NEWS! The Huntsville and North Alabama real estate market is one of the strongest real estate markets in the country. I do expect to see some more slowing down in the fall until the election, but we got it pretty good here!

As a side note: A down economy is a perfect time to TRADE UP. We aren't currently at that point though.

More info about the HEALTHY Huntsville Alabama Real Estate Market

Healthy Property Values in Madison County Alabama

The evidence is real: median home sale prices in 2008 has risen, sellers are getting prices near their asking price. Median sales prices increased nearly 8 percent last year to $169,573 - long-term price appreciation, a 67 percent increase in property values since 2000; all this under a period of low interest rates.

John Allen, president of the Huntsville-Madison County Builders Association (http://www.healthyrealestate.info/), said he wanted to get out the message that despite concerns raised by national reporting on a weak housing market, the Huntsville market is strong and continues to grow. "We're in unique economic times, and people see that and they worry about it," Allen said. "But our numbers show we're trending upward. We're trying to allay their concerns for local real estate." In fact, total homes sold in the Huntsville area increased 0.55% in February 2008 over February 2007, the only metro area in Alabama with positive growth.

Want to know more about Huntsville Alabama Real Estate? Contact me!

Bad Real Estate Market? NOT IN HUNTSVILLE!

TOP TEN MARKET is the way one could describe the Huntsville Alabama real estate market if one has to compare it with the rest of the home buying market across the nation. Things are GOOD down here in Huntsville. AL, you must come and see this for yourself!
With the local economy expecting to add another 16,000 high-paying jobs in the not to distant future, mainly through the Base realignment and Closure relocation (BRAC), the increase in new businesses in the Huntsville research park area, the continuing positive effects of Huntsville being a college town, the steady infusion of solid international companies like Toyota into the local economy all combined to keep the financial aspect of the city vibrant and on a mushrooming streak.

Here is a great link about how healthy the Huntsville Alabama real estate market really is!!!

http://www.healthyrealestate.info

How to buy a HUD home

HOW TO BUY A HUD HOME

How to buy a HUD HOME Well first of all, you either need to be in the market for a home, or at least you are looking for a home to invest in, fix up, and either rent to a tenant or resell it. (flip)
Most Realtors will tell you that the first thing you need to do before doing a serious home search is to visit a mortgage broker or banker and find out what you have the ability to purchase. (I can reccomend a couple of different good ones) Many people don't even get this far because they feel like they can't qualify. DON'T DESPAIR! You will never know until you try. There are many programs still out there that will help you get into a home. At the minimum, you will find out what you need to do qualify for your own home.
new HUD foreclosures come out every Friday at

http://www.hooksvanholm.com/

Huntsville Alabama MLS

An important note: For the first 10 days, they are available to owner/occupants only. Meaning you are not competing with investors with deep pockets! At the end of the bidding period, the following Sunday after midnight, the bids are reviewed and the best one gets it. Simple as that! They aren't always trashed either.....I have seen some very nice homes sold by HUD, you just need to determine where you want to live and what price range you need to be in......
THEN What you do is.........call ME! 256-797-1648. All HUD homes must be sold through a Realtor. I am stoked about helping people get a great deal on their homes.

Have a safe weekend! Don't forget to check out the new homes on Friday I am planning on looking too!

Huntsville Alabama Real Estate For Sale
Walter

4 Plex Cash Flow Property available in Madison Alabama

Foreclosure in Jacobs Pointe Monrovia Area Huntsville Alabama

16 PLEX Cash flow investment property Huntsville Alabama

Nice foreclosure in Huntsville Alabama

EXQUISITE HOME IN HERITAGE PLANTATION MADISON ALABAMA

Nice 12 PLEX IN MADISON ALABAMA

HUD Foreclosures

Don't forget everyone. New HUD foreclosures come out every Friday. The first 10 days they are on the market the bids are reserved owner/occupants. Visit the HUD website or MY WEBSITE for more details!

OPEN HOUSE IN MADISON 2 TILL 4

Check out my interview tonight on WAFF 48 news at 10 PM

Hello all it's been a few days since my last post. I've been nervous about this, but I agreed to an interview with Elizabeth Gentle with WAFF 48 news. As many of you know, I was the owner of the Back Yard Burgers franchise in Athens and Huntsville, Alabama. We closed for business in Athens in September of last year and we closed the Huntsville restaurant last month.

Currently I am a full time Realtor in Huntsville and Madison Alabama with RE/MAX Realty. After 20 years in the restaurant industry I am enjoying my start in real estate.

I would appreciate any referrals to buy or sell in the Huntsville or Madison Alabama real estate market.

Let me know how the interview goes! I can't bear to watch. (I always heard I had a face for radio!)

Walt

Liberty Knoll Subdivision Madison, Alabama

To all Liberty Knoll Subdivision residents,

This week you will be receiving a postcard with a cute monkey on the front and a message and a picture of me on the back. Once a month or so you will receive a postcard or something from me with information about your neighborhood, etc. I will be concentrating on listing and selling properties in your neighborhood.

Huntsville and Madison Alabama are great places to live, and great places to buy and sell your real estate. Let me know how I can help provide you with information to make smart real estate decisions.

Register on my site for a free monthly e-newsletter. I will try to keep all active Liberty Knoll Subdivision homes on my site.

Thanks!

Walter

Mortgage news

Mortgage costs just got cheaper for buyers in high-cost areas.
The size of loans that can be guaranteed by Freddie Mac and Fannie Mae was raised today by the Office of Federal Housing Enterprise Oversight. The new, higher loan limits will stay in effect through the end of the year, allowing the government sponsored enterprises (GSEs), to buy much higher-priced mortgages in some areas of the country.
Also today, the size of the loans that the Federal Housing Authority (FHA) can insure was raised by Housing and Urban Development (HUD).
Both moves will lower borrowing costs for buyers of higher priced homes, and aim to boost flagging real estate markets.Best time to buy a home in four years
Previously, Fannie and Freddie could only insure mortgages of up to $417,000, called conforming loans. That meant, assuming a 20% down payment, that only buyers of homes costing $521,500 or less were eligible for mortgages with GSE backing.
The new loan limits for Fannie and Freddie vary by area based on local median home prices and go as high as $793,750 in Honolulu. (For details, see table below).
Loan limits for FHA-insured loans were even lower; no more than $362,790. Now mortgages of up to $729,750 will qualify for FHA insurance.
The problem was that there are whole swaths of the nation where the typical home cost far more than that, and non-conforming or "jumbo loans" carry interest rates of about a point higher. For a $500,000 mortgage, that's an additional spending of $330 a month.
In many parts of the country prices are much higher. In San Jose, Calif, the median priced home costs nearly $850,000, according to the latest figures from the National Association of Realtors. In San Francisco, the figure is nearly $780,000; in Anaheim, Calif.; $657,000; in Honolulu $625,000; and in the New York metro area, $525,000. That means more than half the loans in those markets would not qualify under conforming loan limits.
"Families in high-cost states have been priced out of FHA-backed loans," HUD Secretary Alphonso Jackson said earlier today, in a speech before the Las Vegas Association of Realtors. "This has created a vacuum, filled by exotic subprime loans."
During the liquidity squeeze that began during the summer of 2007, jumbo loans became very difficult to find even for well-qualified borrowers. that made it hard to buy homes in certain regions, freezing up real estate markets.
By making it easier for buyers to get loans, regulators hope to get these markets moving again.
The new loan limits affect 71 metropolitan areas, as well as 21 counties outside of those metro areas. First Published: March 6, 2008: 4:37 PM EST
http://www.walterjoneshomes.com

Wow! I live here?

The City of Huntsville has been recognized by various leading publications and surveys as the premier
place to rear a family, establish and grow a business, and to work. A sample of the city's recent headlines
follow:• Huntsville was named one of the country's Top Adventure Towns - National Geographic
Adventure, September 2007• Huntsville was named one of the country's Top 10 Metros for Business Vitality - Wall Street
Journal, June 2007• Huntsville was named one of America's Top 5 Cities for Professional Workers - Kiplinger's
Personal Finance, June 2007• Huntsville is one of the country's Top 10 Metros for Scientists and Engineers - Expansion
Management Magazine, May 2007• Huntsville was named the #1 Small City of the Future - Foreign Direct Investment Magazine, April
2007• Huntsville was named one of America's Top 100 Places to Live - Relocate-America.com, April
2007• Huntsville was named one of the Country's Top 10 Cities for Job Growth and Affordability -
MSN/Sperling, March 2007
• Huntsville was named one of the Country's Top 10 Job Growth Markets - Manpower, March 2007• Huntsville was named one of America's Hottest Cities - Expansion Management Magazine,
February 2007• Huntsville is one of the Country's 15 Great Cities for Job Seekers - Careerbuilder.com, January
2007• Huntsville was named one of the country's Top Entrepreneur Hot Spots - Entrepreneur Magazine,
September 2006• Huntsville was named one of the country's Top Metros for Business Opportunities - Expansion
Management Magazine, July 2006
iii• Huntsville was named the Number One Mid-Market in the South - Southern Business Development
Magazine, June 2006• Huntsville was named the country's Best value for Salaries and Cost of Living - Salary.com, June
2006• Huntsville is one of the country's Top 10 Communities for Best Overall Standard of Living -
Expansion Management Magazine, May/June 2006
• Huntsville was named one of the country's Hottest Midsize Cities - Inc. Magazine, May 2006• Huntsville was named the Top Mid-Sized" Military Community of Excellence" in the Country -
Expansion Magazine, Special Issue, April 2006• Financial Times' publication recognizes Huntsville's Biotech Brain Gain - Foreign Direct
Investment, April 2006
• Huntsville was named one of the Top 10 Green Cities in the U.S., The Green Guide, April 2006• Huntsville ranks as one of the country's Best Locations for Scientists and Engineers, Expansion
Management Magazine, April 2006• Huntsville was ranked among the country's Best Performing Cities - Milken Institute, February
2006• Huntsville was named America's 2nd Most Affordable City - Career World Magazine,
November/December 2005• Huntsville is one of the South's Booming Manufacturing Centers - The Manufacturer Magazine,
October 2005• Huntsville has the highest concentration of Inc. 500 Fastest Growing Companies in the U.S. - Inc.
Magazine, November 2005 and October 2004• Huntsville was named the 2nd most Cost Effective Community in the United States - Foreign Direct
Investment Magazine, June 2005• Huntsville was named one of Forbes' Leading Cities for Business - Forbes Magazine, May 2005 &
May 2007• Huntsville was named as one of the country's leading Knowledge Worker Metros and one of
America's Super Cities of the Future - Expansion Management Magazine, May 2005• Huntsville was listed as the South's 2nd ranked Metro for Quality of Life - Expansion Management
Magazine, March, 2005• Huntsville ranks in Poplar Science's list of America's Top 50 Technology Hotspots - Poplar
Science, March 2005
iv• The University of Alabama in Huntsville's graduate engineering management program was ranked
best in the U.S. by the American Society of Engineering Management, January 2005• Huntsville ranks 5th in the country for software-related employment - Software Information
Industry Association, November 2004• Huntsville leads the nation for the highest concentration of Inc. 500's fastest growing private
companies - Inc. Magazine, October 2004• Huntsville was chosen as the top city in the nation for "Best Places to Live for Black Americans"
Family Digest Magazine, March 2003• Huntsville was ranked number 4 on the list of "America's Best Places to Live and Work"
Employment Review, June 2003• NASA's Marshall Space Flight Center, located in Huntsville, has been selected as the best place to
work in federal government - Partnership for Public Service, November 2003

BOOM! That's the sound of my head exploding

Yesterday I met with my good friend Neal at huntsvillepr.com. He is finishing setting up my new website. As my friends know I am a new Realtor with RE/MAX in Huntsville and Madison Alabama. We spent some time going over the different features of the new site, and Neal showed me some tips to use in my posts here at blogspot and at my ACTIVE RAIN real estate network site.

Well, about 2 AM this morning my head exploded. I woke up thinking about all of the awesome things of living in Huntsville, Alabama, my new career in real estate, some of the new clients and contacts I have made recently, and then it happened. BOOM! Grey matter all over my dark bedroom. I began thinking about, real estate blogs, personal blogs to post about coming through tough times, blogs about Huntsville Alabama, a running blog. (running Country Music 1/2 marathon next month) etc, ad braineum.

I did manage to gather up the chunks and put them back for a little while, knowing that I could sleep in this morning for a little while when 6 AM my alarm was still set from yesterday. I laid there and the mice inside the wheels in my head started running again. BOOM! there it went again! So here I sit. Grey matter splatter.

Huntsville real estate news

Ckeck out www.walterjoneshomes.com for more Huntsville real estate news


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Welcome to my first blog

Hello all. This is Walter Jones, I am a Realtor with RE/MAX realty in Huntsville, Alabama. You can count on me to help you find the home you are looking for. I will try to post regularly about myself and about the current Huntsville Alabama real estate market. I love the Huntsville area and I plan to stay! More information to come..........stay tuned.

Walter