For Sale: BR/BA Multi-Family in Madison, AL, $150,000
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Wednesday, September 23, 2009
Monday, February 2, 2009
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:
- Have not owned a home within the last three (3) years (some exceptions may apply)
- Complete a Homebuyer Education Course (provided by FSC at no charge)
- Have $500 in personal savings account for home maintenance prior to loan closing
- Purchase home within Huntsville City Limits (including areas annexed by Huntsville)
- Purchase home costing no more than $150,000 with monthly payments that FSC has verified to be affordable
- Purchase home that passes code inspection by City of Huntsville before closing
- 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
Friday, January 16, 2009
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 |
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