Condominiums and townhouses offer an affordable option to single-family homes when buying Huntsville real estate, and they’re ideal for those who appreciate a maintenance-free lifestyle. But before you buy, make sure you do your legwork. These are some of the important elements to consider:

• Storage. Some condos have storage lockers, but usually there are no attics or basements to hold extra belongings.
• Outdoor space. Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain out doors, this may not be a good fit. However, if you dread yard work, this may be the perfect option for you.
• Amenities. Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home.
• Maintenance. Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in workers when you’re not home - good news if you like to travel.
• Security. Keyed entries and even doormen are common in many condos. You’re also closer to other people in case of an emergency.
• Reserve funds and association fees. Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees decided by the condo board, whether or not you’re interested in the amenity.
• Resale. The ease of selling your unit may be dependent on what else is for sale in your building, since units are usually fairly similar.
• Condo rules. Although you have a vote, the rules of the condo association can affect your ability to use your property. For example, some condos prohibit home-based businesses. Others prohibit pets, or don’t allow owners to rent out their units. Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer.
• Neighbors. You’re much closer to your neighbors in a condo or town home. If possible, try to meet your closest prospective neighbors.

 Thinking of buying Huntsville real estate? Visit MoveToHuntsville.com or give me a call. I’m glad to help!

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The savings should equal about $4 to $8 a month for the federal utility’s 8.8 million residential consumers in Tennessee, Kentucky, Alabama, Mississippi, Georgia, North Carolina and Virginia.

The change reflects a 25 percent reduction in TVA’s fuel cost charge, which is adjusted quarterly.

The reduction will help offset an across-the-board 20 percent rate hike enacted Oct. 1. It was TVA’s highest increase in three decades and blamed largely on rising fuel costs for its power plants and power purchased from others.

Learn about Huntsville real estate at HuntsvilleHomesOnline.com.

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The current Huntsville real estate market is challenging for both buyers and sellers. Many sellers have not accepted the fact that their home has decreased in value and are trying to sell at peak 2006 prices. At the same time, buyers want to make sure they don’t overpay, fearing prices will continue to drop even more.

Of course, there are exceptions. Well priced homes in desirable neighborhoods or foreclosed properties selling at ‘yard sale’ prices may generate multiple offers. But all in all, it is a buyer’s market.

So how do Huntsville home buyers prepare to make an offer and put themselves in the best negotiating position? Here are some suggestions made by Dian Hymer in a recent Inman news article:

1. Before you make an offer on a listing that’s priced over market, try to find out as much as possible about the sellers’ motivation, and if there’s any flexibility in their price. If the seller owes more than the house is currently worth, they may not have any negotiating room. They may want to sell the house, but really can’t sell at today’s prices.  A lot of time and emotional energy goes into making an offer. Save your efforts for listings where the sellers are motivated. That is, they don’t just want to sell — they need to sell.

Some sellers want to test the waters at a price that’s higher than the market will support. They usually feel that someone will appreciate the added value their home offers and pay more for it. However, these sellers will often negotiate with a legitimate buyer who offers a price that is less than the list price.

2. Make sure that your financing is in order and that you are able to show the seller that you are capable of closing the deal. The fallout ratio is high in the current market. Many of these transactions fail to close because the buyers couldn’t get financing.

It’s always a good idea to be preapproved for the financing you’ll need to buy a home before you make an offer. Preapproval involves making a formal loan application, having your credit checked, as well as verifying your funds for down payment and closing costs, and validating your income and employment. Lenders often want to know that you have enough surplus cash to make house payments (mortgage, property taxes and insurance) for two to three months.

3. Buyers who make an initial low offer and who aren’t in competition should make as clean an offer as possible. This means omitting anything that’s not necessary. However, you should include contingencies for loan and appraisal approval and an inspection contingency.

It’s a good idea to include a copy of your preapproval letter with your offer. If you are approved for a higher price than you are offering, ask your lender or mortgage broker to issue a preapproval letter for the price you’re offering.

4. Be prepared to negotiate. It may take several rounds of counter-offering back and forth to reach a mutually acceptable price.

Are you thinking about buying a Huntsville home? We are glad to help you with your preapproval process, show you homes with motivated sellers and craft an offer putting you in the best possible light with the seller and results in getting you the best possible deal.

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Investing in Huntsville real estate and owning rental property sounds glamorous, but it isn’t for everyone.

Be sure you know what you’re getting into and understand what you are getting into before signing on the dotted line. Here are some questions you should ask yourself before purchasing an investment property:

    •  Where will the down payment come from for this property?

    •  Do you have cash reserves so you handle periods of vacancy, i.e. no income?

    •  How about reserves for unexpected repairs and other expenses?

    •  Do you need property to rent immediately or do you have time and money for a “fixer-upper”?

    •  Will you make needed renovations and repairs or hire someone else for the job?

    •  What type of property do you want: single family, apartment, duplex, condominium, or vacation property?

Thinking it through ahead of time assures that you won’t get caught making a rash decision you will regret later.

If you decide now is the time to take advantage of lower market prices and invest in Huntsville real estate and rental property, visit MoveToHuntsville.com.

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Huntsville Veterans now have expanded homeownership opportunities, thanks to the Veterans’ Benefits Improvement Act of 2008.

Three provisions in the legislation are critical to help Huntsville veterans during the current housing turmoil. The law will make it easier for veterans who have fallen victim to risky subprime loans to refinance their loans into a safer, more affordable loans backed by the U.S Department of Veterans Affairs. The legislation also extends the VA loan limit increases through 2011, which will help veterans living in high-cost areas. In addition, the VA can now offer adjustable-rate mortgages to veterans. That would make Huntsville homeownership more attainable for military families and personnel who often have to move more frequently than their civilian counterparts.

If you are a Veteran thinking about buying a Huntsville home, please get in touch and we can give you some information on how you can take advantage of the great home purchase opportunities that exist right now.

Learn more about Huntsville homeownership by visiting MoveToHuntsville.com.

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Channel 19, WHNT-TV if offering half off deals with local businesses. 

They’ve worked out deals with some of our area’s best restaurants and businesses to give you 1/2 off gift certificates - That’s right, 50% off food and more!

Each week they will feature a business of the week. At 8:30 AM each Friday, they’ll open up the ONLINE store for that week’s business. But you have to be fast - there are only a limited number of gift certificates per week.

Have fun and Happy shopping! And keep checking back for more half-off certificates from Real Deals!

I can’t offer you half off your next home Huntsville pruchase, but I can promise to get you the best deal possible.

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Existing-home sales - including single-family, townhomes, condominiums and co-ops - rose 5.5 percent to a seasonally adjusted annual rate¹ of 5.18 million units in September from a level of 4.91 million in August, and are 1.4 percent higher than the 5.11 million-unit pace in September 2007.

Lawrence Yun, NAR chief economist, said more markets are seeing year-over-year gains. “The sales turnaround which began in California several months ago is broadening now to Colorado, Kansas, Minnesota, Missouri and Rhode Island,” he said. “The South was hampered by much lower home sales in Houston in the aftermath of Hurricane Ike.”

Let’s take a look at the sales statistics for September 2008 to see how the Huntsville AL real estate market looks: 
  
Huntsville/Madison County Real Estate Sales Statistics 

Huntsville and Madison County real estate saw a 2% decrease in average sales price over September 2007.  There was a 10% decline in home sales this September, when compared against September 2007. The average list price has seen an decrease of 2% over last year.  Likewise, the sales price to list price ratio remained constant.  The average price per square foot saw a 1% decrease.  Homes remained on the market an average of 2 days longer than last year.  

There are lots of good things happening in Huntsville and Madison County real estate. I encourage you to take advantage of these opportunities. 

For the latest Huntsville AL real estate market conditions in your area, please call me at 256-508-0211 or visit MoveToHuntsville.com.

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Statistics are based on information for the North Alabama Association of Realtors and are deemed reliable but not guaranteed.  

Spread out southern style in this spectacular custom home in The Hampton Cove Area. The inviting upper and lower level covered porches offer gorgeous views of the mountains. The comfortable and convenient floor plan has a gracious living room and distinctive dining room with wood floors, custom crown molding and wainscoting for formal entertaining. The spacious family room with gas fireplace for ambiance is perfect for large family gatherings.  Serve up your sweeties at the breakfast bar in the gourmet kitchen! The work island, custom glazed cabinets, stainless appliances, granite countertops and tile floors are sure to please the chef in your family. Stay organized with the large laundry that offers an abundance of cabinets and a folding station. Slip away and have some fun in the recreation room. Retreat to the master suite with trey ceilings, hardwood floors, separate shower, vanity, dual sinks, and a whirlpool tub for relaxing nights. The oversized garage has a storm shelter built in. All brick exterior, professional landscaping and sprinkler system provide low maintenance for you to enjoy all this grand southern home has to offer your family.

 For more information on 4405 Hampton Ridge Drive or other Huntsville real estate visit MoveToHuntsville.com or 256-508-0211.

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The Huntsville real estate housing market has never been better for many potential buyers. In fact, more often than not, it is less expensive to own your own home rather than rent. 

The National Low Income Housing Coalition reports that in 57 out of the 100 most populated metro areas, renting a three-bedroom home is more expensive than monthly costs on a six percent mortgage for a typical low-priced house in the same area. 

With all the news these days concerning the economic crunch and these tumultuous economic times, you might think I’m crazy saying it is a good time to buy a Huntsville home. Of course, home buyers with strong credit are best positioned to take advantage of today’s opportunities. A high credit score will yield a lower interest rate and increase the likelihood that a loan application will be approved. 

For example, a home buyer with a 6 percent mortgage will pay a third less per month than a buyer who has a loan at 8 percent. This difference can be hundreds of dollars per month. 

FHA loans, VA loans and government backed first-time buyer loans are all available to qualified buyers. With the current low interest rates and affordable home prices, it is a great time to buy your Huntsville home. 

It is also a time to keep in mind that buying Huntsville real estate is a long term investment…and an investment you and your family can enjoy for many years!

Learn more about Huntsville real estate at HuntsvilleHomesOnline.com.

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This ranch style home offers 4 bedrooms, covered front porch and an endless view. The traditional living and dining room with hardwood floors and an abundance of light are perfect for entertaining. Your family will enjoy the eat-in kitchen, with breakfast bar, updated countertops, cabinetry, wall oven, smooth cook top and dishwasher. The inviting family room with gas fireplace is sure to warm your guest on cold winter nights. The super sized laundry room features tile floors, cabinets and a folding station. The master suite with his-and-her closets, hardwood floors and a newly remodeled bath is the perfect retreat. 2-car garage, plus workshop! 1 car detached garage/shop with electricity is sure to please any handyman. Store your tractors in the 3 stall tractor shed.  New heating /cooling system, tile floors, fresh paint and just refinished hardwood floors make this home ready for you to move in today! Dreams do come true!

For more information on 10409 Wall Triana Highway or other Huntsville real estate, visit MoveToHuntsville.com.

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