Obtaining Huntsville mortgage approval in Huntsville, Alabama or anywhere else in the United States, can be either a simple or a consuming experience.  Either way, underwriters are particular about what you do with your finances when you are planning to buy a home. The process of getting a Huntsville mortgage from the time of writing the offer to the day of closing can take some banks and lenders up to 60 days. This is a big difference from not long ago when closings were happening in sometimes less than 20 days.

When you are trying to purchase Huntsville real estate using your Huntsville mortgage approval this can seem like an extraordinarily long time to try to keep everything in the same situation they were in when you qualified. There are some things you will not have any control over so you'll want to concentrate and be prepared for those things which you do have control over. Here are eight things you should be extremely careful not to do between underwriting and closing.

1) Do not open any new credit cards or lines of credit. Getting your Huntsville mortgage approval depends on keeping everything on the same even keel it was on at the beginning of the underwriting process.

2) Do not make a big purchase such as a vehicle. This includes trading your existing vehicle in for a lease or purchase that is more money.

3) Do not move large sums of money from one account to another account. This looks like you are trying to hide something or keep something from the underwriter.

4) Do not switch jobs. Especially do not switch from a position in which you are paid a salary to a commission job.

5) Especially do not quit your job - for any reason. This includes changing from the type of work you do to another vocation or starting your own business. If you already own a business do not open another one at this time.

6) Make sure you pay your bills. Not paying on the ones that you are disputing for the purposes of your credit may affect it between now and the time you close on your home.

7) Do not accept a gift of money unless you are going to fill out the proper paperwork. Even if a family member wants to give you a generous monetary gift to help with the purchase of your new purchase of Huntsville real estate, the proper paperwork must be filled out - speak to your Huntsville mortgage lender further about this.

Do not deposit different amounts of money into your bank account at random times. The deposits that go in should be able to be accounted for when it comes to where they are from. For example, a weekly or bi-weekly amount from the same source every time is clearly a paycheck. This can be documented by your Huntsville mortgage lender.

Some of the rules may not be feasible for obtaining your Huntsville mortgage approval. For example, the cash gift your family member wants to give you to help with the purchase of your home. The right way of accepting the gift versus the wrong way will allow you to use it rather than not when it comes to your Huntsville mortgage approval. The Huntsville home that you want to purchase is not yours until after closing. Keep in mind that with the longer times now for getting the underwriting done means the time to keep your finances in order has increased. Try your best to keep everything the same and before you know it you will be a proud new Huntsville home owner.

Take a look at prime Madison Alabama Real Estate for sale. Here is a wonderful home located within a quiet neighborhood in the heart of Madison, Alabama which is close to Madison schools, parks, Redstone Arsenal, the Huntsville International Airport and Research Park.

This home boasts a large family room with vaulted ceilings, plant ledges and a gas log fireplace.   The large kitchen is bright with lots of cabinets and a pantry.  There is crown molding in all the bedrooms, each of the rooms are very spacious, plus there are 10' ceilings in the formal dining room which also has crown and chair molding.  Hardwood floors welcome you as you enter into the foyer (and the dining room).  The master suite is isolated from the rest of the home, plus the master bath has a large jetted tub and a separate shower.  To see this wonderful example of Madison Alabama Real Estate, please click the play button below to view a virtual tour of this very special Madison AL home.

Call the Steve Thomas Team for more information about this fine home, 256.694.4663.

Here are the Huntsville, Alabama Real Estate Sales Statistics for the month of April 2009.  

HUNTSVILLE REAL ESTATE
MARKET STATISTICS ~ APRIL 2009
# Existing Single Family Homes Sold This Month	Average List Price	Average Sold Price	Average Days on Market	List Price vs. Sale Price %
311	$195,772	$190,666	95	97.39%
Area	# of Sales in April '09	Avg Sales Price April '09	Avg Sales Price March '09	Trend
HSV CITY NW	30	$123,720	$87,130	UP
HSV CITY NE	16	$126,101	$117,925	UP
HSV CITY SW	45	$158,521	$156,335	UP
HSV CITY SE	35	$196,537	$204,720	DOWN
MAD CITY LIMITS	45	$272,282	$210,533	UP
HSV CITY EAST	26	$288,477	$294,713	DOWN
MAD OUTSIDE CITY	34	$209,385	$193,184	UP
MAD CO NW	22	$156,295	$134,225	UP
MAD CO NE	50	$165,983	$203,563	DOWN
MAD CO SW	-	-	$163,000	-
MAD CO SE	8	$118,238	$131,975	DOWN

 
April was a green month for Huntsville, Alabama real estate!  Lots of positive movement in most of the areas throughout both Madison and Huntsville was witnessed by home sellers.  Even though home prices have dropped over the past year in each area, it is nothing like most similarly sized cities throughout the US.  With the continuation of population growth and job opportunities, along with low mortgage rates, Huntsville, Alabama real estate is still seen as a great investment for families and an even better place to call home.   

When looking back to this time 3 years ago, for instance, the average Huntsville homes sale price was in the low $160K's!  When you compare this to areas in Florida or California, it's staggering to see how well our market is holding up during this difficult financial time; pricing in Florida and California have plummeted to prices that haven't been seen since the mid-80's!   Huntsville, Alabama real estate truly is holding strong!  Please feel free to contact me if you would like to discuss the market with me or get a comparative market analysis of your current home.

The Huntsville, Alabama home sales Market Statistics for March 2009 may be reviewed below.

HUNTSVILLE REAL ESTATE
MARKET STATISTICS ~ MARCH 2009
# Existing Single Family Homes Sold This Month	Average List Price	Average Sold Price	Average Days on Market	List Price vs. Sale Price %
327	$183,271	$178,558	90	97.43%
Area	# of Sales in March '09	Avg Sales Price March '09	Avg Sales Price February '08	Trend
HSV CITY NW	43	$87,130	$100,987	DOWN
HSV CITY NE	17	$117,925	$140,689	DOWN
HSV CITY SW	36	$156,335	$194,687	DOWN
HSV CITY SE	42	$204,720	$214,885	DOWN
MAD CITY LIMITS	39	$210,533	$274,171	DOWN
HSV CITY EAST	26	$294,713	$267,965	UP
MAD OUTSIDE CITY	42	$193,184	$221,672	DOWN
MAD CO NW	28	$134,225	$136,652	DOWN
MAD CO NE	49	$203,563	$168,830	UP
MAD CO SW	1	$163,000	-	UP
MAD CO SE	4	$131,975	$118,033	UP

Huntsville realtors report that the Madison County area saw the most positive movement in sales during this period, which is indicative of families with children to be drawn toward - looking to be surrounded by the same type of families.  This is the same for the Huntsville South East area, where subdivisions such as Somerset Lake are very popular, providing newer homes priced in the mid to high $200K's and Marina Park with higher end properties for sale, from the mid $500K's to the high $700K's.  Another popular high-end subdivision here is The Ledges of Huntsville Mountain, which you can learn more about in a previous blog of mine. 

The average number of days a Huntsville, Alabama home took to sell dropped significantly in March versus in February (down by almost 2 weeks), which is great news for home sellers.  And even though the average sales price of homes dropped month over month, the percentage that the home sold for versus what it was listed for increased.  

With the nearing of the end of another school year, more families will be on the move this coming summer (before their children will be starting up their next school year).  If you have been looking to buy or sell your Huntsville Alabama home, please contact me.

Bridge Street Town Centre of Huntsville, Alabama is one of the latest attractions to our area. This attraction is thought of as something very special for our residents as well as visitors to the Huntsville, AL area. Within this wonderful shopping, dining and movie going extravaganza you’ll find an outdoor shopping experience like no other in the North Alabama area. There are plenty of restaurants to choose from, to name a few:

Cantino Laredo P. F. Changs China Bistro

Connors Steak House Ketchup Red Robin

Outdoor shopping has never been more interesting. There is an abundance of shopping attractions within the centre. A few are listed below:

Anthropologie Ann Taylor Loft Apple Store Banana Republic Barnes & Noble

Bath & Body Works Bebe Brighton Collectibles Chicos Coldwater Creek

Bridge Street Town Centre also has a wonderful movie theatre called Monaco Pictures which is a 14 Screen Cinema right there within the complex. There is VIP seating available located in the upper section of the theatre for a small extra charge. Within the VIP seating section alcoholic beverages are served to movie goers of legal drinking age. Go catch a movie then kick back at the bar or outdoor patio and enjoy your favorite cocktail.

Bridge Street Town Centre offers Venetian gondola rides through the scenic waterways there. The gondola rides are certainly out of the norm for the Huntsville, AL area. You’ll feel like you’re right in the Heart of Venice as your personal gondola guide takes you on a scenic and possibly romantic tour of Bridge Street on the 10 acre lake. Many have celebrated anniversaries, birthdays, proposals, weddings and more on these fantastic rides. Also for the young and old alike there are paddle boats available. Take the tour on your own and get some exercise while you’re at it. For children, or the very young at heart, there is a gorgeous carousel ride located by the Piazza del Lago food court by the lake. Also for children is the Pop jet fountain located in the South district near Customer Service. The Westin Huntsville Hotel blends sophistication, elegance and classic southern hospitality, offering everything

a business traveler demands and everything a vacation visitor desires including: spacious rooms and suites, exceptional dining and complete conference and catering facilities.

Visit Bridge Street Town Centre of Huntsville, AL while you're in town and see for yourself all of the great attractions offered there.

The Huntsville Spring Festival of Flowers is once again in full swing. With the wide array of flowers all showing off their best dressed blooms, this is one of the most looked forward to festivals in the area. Beginning March 31st thru April 30th Huntsville is proud to say this is one of the Southeast's Top 20 Tourist Attractions.

For those who are residents of Huntsville homes this is a special treat. The festival is held in the Botanical Gardens on Bob Wallace Avenue. The spring spectacular features tulips, dogwoods, azaleas and wildflowers galore. The beauty of the mixture of colors is one of the most beautiful sights of the festival. 

The Bonsai Show is scheduled for April 28th and 29th. This is also the grand opening days for the Ishii Bonsai Display Garden. The Huntsville, AL real estate companies in the area look forward to this special event. Reminding the areas residents of the huge Easter Egg Hunt with over 8,000 eggs hidden and waiting, the event is hosted by a DJ and snacks are served for the children.

The Spring Plant Sale is another event that everyone looks forward to with much excitement. For the members only there is a one day sale on April 16th and the public has a two day sale on the 17th and 18th.  This is looked on by those who own Huntsville homes as a harbinger of spring.

The flowers include houseplants, shrubs, trees, vegetables, roses, orchids and perennials. These are all plants that have been proven to grown in the northern Alabama area. There are also master gardeners on hand to test your soils pH level. Check out this great plant sale and the vendors who are available with accessories for your garden.

If you are into photography, the Wildflower Photography Workshop is essential. The instructors teach the basics of photographing nature and then out into the Botanical Garden for the real thing. This is one interesting workshop for amateurs and semi-professionals. A competition and exhibition is also held during the Spring Festival of Flowers.

This is a great time to see what some of the Huntsville, AL real estate owners have done with their lawns when it comes to planting the types of flowers featured at the Festival. Many of these flowers were purchased at past spring festivals. The abundance of color at this time of the year makes everything seem fresh and new.

If you have recently purchased one of the Huntsville homes in the area and need a few tips, the Garden Chat every weekday in April at noon will be where you want to go. The chat is held at Clementine's at the Garden. The information you gather here will be quite helpful with the plan for your own garden.

The public wants to know about orchids and how to grow these exotic looking plants. The Heart of Dixie Orchid Society meets every month on the third Monday. Their meetings are held at the Botanical Gardens and in preparation for their yearly Orchid sale they will be discussing different aspects of growing the orchid each month.

An all-around good time is what the Spring Festival of Flowers is all about. If you are not careful you just might learn something while you are there.

Please find below the updated summary of the Huntsville, AL Real Estate activity for the month of February 2009, versus the month of January.  As last month, this new layout shows the trend that each area of the Huntsville/Madison cities and suburbs are taking.  Although the number of days it is taking a seller to close on their property (up 3 days over January's and 5 days longer than December 2008), the list price to sale price is increasing, which makes it worth waiting those extra few days to sell.  Please take a look at the chart below and let me know if you have any questions.

HUNTSVILLE REAL ESTATE
MARKET STATISTICS ~ FEBRUARY 2009
# Existing Single Family Homes Sold This Month	Average List Price	Average Sold Price	Average Days on Market	List Price vs. Sale Price %
518	$201,587	$195,919	103	97.19%
Area	# of Sales in February '09	Avg Sales Price February '09	Avg Sales Price January '08	Trend
HSV CITY NW	22	$100,987	$121,062	DOWN
HSV CITY NE	18	$140,689	$146,925	DOWN
HSV CITY SW	35	$194,687	$167,918	UP
HSV CITY SE	33	$214,885	$266,730	DOWN
MAD CITY LIMITS	33	$274,171	$274,663	-
HSV CITY EAST	24	$267,965	$374,013	DOWN
MAD OUTSIDE CITY	29	$221,672	$218,574	UP
MAD CO NW	17	$136,652	$146,450	DOWN
MAD CO NE	40	$168,830	$170,637	DOWN
MAD CO SW	-	-	$152,000	-
MAD CO SE	6	$118,033	$105,450	UP

Here is a slideshow of some of the homes that sold over the past month:

Please bookmark this site for future market reports for the upcoming year.  You can also go to my previous blogs to see how the market has changed over the past year.

 

"Art is a BLAST!" This is the theme of the 28th Annual Panoply Festival in Huntsville, AL. A tradition for the Huntsville area this festival is held every year in the last full weekend of April. Starting at 5:00 p.m. Friday, April 24th, the festival kicks off with an array of exciting activities.

Big Spring International Park in downtown Huntsville is the setting for the weekend extravaganza that includes competitions in photography, visual art, playwright competitions and fiddling as well as Alabama's own local talent. This festival is a favorite of the young and young at heart alike. The wide assemblance of talent and activities is what makes the draw of the crowd well over 100,000 every year.

Artists abound whether it is of the typical type or weaving, pottery sculpture or airbrushing. The artist create masterpieces on site while you watch. "Arts in Action" is a huge draw every year for the crowd that enjoys watching the artists at work. They will be happy to explain their chosen field and answer any questions for the aspiring artists in the crowd. Who knows? You may find your next masterpiece here.

The Arts Central Tent is open for viewing the array of art available all year through the Huntsville Arts Council. They will have brochures listing the year's upcoming shows and special events. Don't forget to enter the drawings for artwork, tickets and other great items.

This is a family fun weekend with kid friendly shows and their own "make-n-take" activities. The wide array of food available will tickle the palate. There are even fun competitions for the food vendors with a "Taste of Panoply". Of course, you know the real winners are the festival goers who get to eat the food. 

Mountain Valley Songwriters Competition will be joining the festival for the 9th year in a row. The competition will be on Saturday and is judged only on the music and lyrics; not the singer's voice. So you may win even if you cannot carry a tune. However, if you want you can have someone else to sing your song for the competition.  Another great feature of the festival is the 10 minute playwright competition. This allows anyone to submit their script for consideration of being produced by a panel of judges. You may be a novice or an established playwright. The theme is determined every year and the winners enjoy their play being produced plus a $50 stipend. 

The Panoply Arts Festival is just what the name implies - a magnificent array of the best in the Huntsville, AL real estate area when it comes to art of all kinds. From face painting for the kids to the different cultures represented, this is one of the most diverse events in the area. The top off every night of the festival are the fireworks which light up the sky with a bevy of colors. Nightly at 9:00 p.m. on Friday and Saturday and closing night at 8:00 p.m. this is one of the much anticipated parts of the evening.

It is hard to choose a favorite part of the festival as the whole experience is so much fun. The one thing you will like about the Panoply Festival is it is good wholesome fun for the entire family. So whether you are a new visitor, yearly returning arts fanatic, or a Huntsville, AL home owner, come and enjoy the art, enjoy the food and best of all enjoy yourself!

There's no better time than today to boast about the great reasons why buying and living within the Huntsville, AL real estate area is the best decision you are going to make!

Below is a list of this great city's accomplishments and recognitions over the past year - from one of America's leading greenist cities to one of the top ten cities for job growth.

	Huntsville named one the South’s leading cities for Defense Jobs February 2009
	The City of Huntsville receives Standard & Poor’s highest possible “AAA” bond rating for strength of the local economy January 2009
	Huntsville named one of 10 Great Cities for Salary Growth January 2009
	Madison County named the country’s Best Place to Live to weather the economy November 2008
	Huntsville named one of the Top 50 Best Places to raise children in the U.S. November 2008
	Huntsville named one of the Top 5 locations in the U.S. for aerospace companies October/November 2008
	Huntsville named one of America’s Top 5 Cities for Job Opportunities September 2008
	Huntsville named one of the Top 5 Best Performing Cities in the Country September 2008
	Huntsville named the #1 Mid-market in the South August 2008
	Huntsville named one of America’s Top 5 Mid-Sized Cities for Doing Business July 2008
	Huntsville is one of the country’s Top 10 Technology Cities, ranking 3rd in the country for concentration of technology workers June 2008
	Huntsville named one of the country’s Top 10 Places to Live May 2008
	Huntsville named one of America’s Leading Greenest Cities”. -Popular Science, March 2008 March 2008

For more information on why buying a Huntsville, AL home should be in your future plans, please call me anytime.  I've got over a dozen EXCELLENT reasons why I'd love to talk to you more about!

If you have agreed to sell your Huntsville, Alabama home using a land contract, you should do your homework. When you sign a land contract you are allowing the buyer to purchase your home and creating an income for yourself at the same time. If you are going to consider this type of sale, you should make sure the buyer can purchase the home and safeguard the equity you have in your home.

The land contract sale will consist of an agreement between you, the seller, and the buyer. You will carry the financing for the buyer and they do not get the deed to the property until the land contract is fulfilled. Depending upon the state you live in, the seller has the right to foreclose on the property if the payments are not made. Protect yourself by following a few simple steps. A credit report on the buyer is necessary. This will allow you to know what his record has been when it comes to paying debts. Ask for a down payment of enough to see that the buyer is serious about buying the property.

A few more tips on selling with a land contract is to make sure the purchaser has a job that is sufficient to pay for the land. The longer he has been employed, the better chance of payments being made. Require that the payments be made by a certain date or they are subject to late charges the same as a regular mortgage. Get personal references which should include some family members. Request the buyer get homeowner’s insurance so you they will be the responsible party after the contract is signed. Last but not least, do not sign anything until you have read everything.