Posts Tagged ‘Buying’
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Friday, January 13th, 2012
Should buyers be excited about buying homes in Auburn in 2012?
What does the 2012 real estate market look like?
 Based on the past performance of local real estate markets, 2012 is going to be an exciting year for buying and selling homes in Auburn and Lee County, Alabama. After years of steady growth and appreciating property values, Auburn homes and property values across the U.S. have dropped.
Despite these turbulent conditions in local and national realty markets, home sales are up, prices are down and the housing inventory is moving quickly.
Attractive prices for historic homes, suburban properties, condos and new constructions mean faster sales and a housing inventory that has dropped 7.5 percent. Today, and as we move further into 2012, there will be plenty of properties available so buyers can take advantage of competitive prices while enjoying a comprehensive selection of properties across the Auburn – Opelika AL area. Current statistics show there are more than 900 local properties with a median price of $149,000, which means many homes could be yours for less than $100k.
According to data from the Alabama Center of Real Estate (ACRE), an organization affiliated with the University of Alabama, the average sale price for homes in the Opelika-Auburn Area and Lee County dropped 15 percent during 2011, which means a three-bedroom house with top-notch amenities can be purchased today for $160,000 compared to the $177,000 a buyer would have paid for the same house a year earlier.
New Construction Homes in 2012
The pricing of new constructions homes in Auburn have seen a modest increase of 5.9 percent during the past year, which means 2012 will be a great time to purchase a new home or condo before the prices go up. One of the most exciting statistics is Auburn home sales have increased more than 24 percent over the past year. In fact, the ACRE reported that growth in the Auburn real estate market exceeded the state average where 64 percent of local markets experienced improved sales numbers.
Buying and Selling Homes in Auburn in 2012
As a current homeowner looking to sell, your chances of finding a buyer quickly are growing all the time. The year 2012 will be a great time to buy and sell Auburn homes. Auburn real estate market forecasts and predictions from the statistical analysis provider Forecast-Chart.com estimate home prices may continue to fall over the next 12 months, which means now is the ideal time to list your home, trade up or secure your first property.
Viewing Homes in Auburn for Sale
Whether home values go up or down, some things will always stay the same here in beautiful Auburn, Alabama, like our top-rated schools, Auburn University and the historic downtown area. If you’re buying, selling or relocating to this thriving college community for work, school or family, 2012 will provide you with a great window of opportunity. Use the online map search feature at http://www.PorterProperties.com to search, save and share your favorite properties.
Auburn Homes: al, alabama, auburn, Auburn Homes, Auburn Homes, auburn real estate, Auburn University, buyers, Buying, condo, historic, home, homes in auburn, lee county, map, market, Opelika AL, property, real estate, realty, sale, search, selling, university
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Tags: al, alabama, auburn, Auburn Homes, auburn real estate, Auburn University, buyers, Buying, condo, historic, home, homes in auburn, lee county, map, market, Opelika AL, property, real estate, realty, sale, search, selling, university
Posted in Auburn Homes |
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Tuesday, November 15th, 2011
What Auburn Home Buyers Could Expect to Pay
Auburn home MLS listings can range from $3 M plus to under $20,000. This is an incredible discrepancy that offers a wide range of buying advantages. Similar to most real estate markets, location is often the driving factor that dictates the value of a property.
Auburn Homes for Sale
A snapshot of three MLS listings currently on the market in Auburn Alabama.
 Auburn Home #1
2895 Hamilton Road
List Price: $960,000
Total Bedroom Count – 6
Total Bathroom Count – 6
Square footage – 8,803 sq. ft.
Property Description
This magnificent custom built home in 1997 has numerous upgraded amenities and unique features including brick siding, gourmet kitchen with Jennair appliances, basketball court, swimming pool, security and vacuum systems to name a few.
 Auburn Home #2
1097 Walden Lane
List Price: $349,500
Total Bedroom Count – 4
Total Bathroom Count – 4
Square footage – 3,299 sq. ft.
Property Description
Built in 2010 a beautiful European and American architectural styled Auburn home with a spacious kitchen that has granite counter tops, stainless appliances and all wood cherry finished cabinets. Additional special features include hardwood floors throughout the great room, dining room, hallways and foyer and a beautiful fireplace set up for gas logs.
 Auburn Home #3
1094 Princeton Place
List Price: $128,900
Total Bedroom Count – 3
Total Bathroom Count – 2
Square footage – 1,554 sq. ft.
Property Description
An updated condo built in 1997 and is located near the center of town.
What determines Auburn home prices?
When a property is listed on the Multiple Listing Service a property comparison report or similar is produced by the real estate agent. Homeowners can use this report to determine listing price options along with other relevant advice from their real estate agent.
A property comparison report contains recently sold homes that are comparable to the subject property. Adjustments are made to the subject property for features such as square footage, over all condition, bedroom count plus more.
Making Your Offer
How much will you pay for you next Auburn home? Because the listing price is set, this may or may not be what you can expect to pay. Prior to making an offer gathering data by researching comparable homes and understanding the existing real estate market are an essential part of the home buying process. Good negotiation skills may also contribute to the ultimate accepted purchase price.
Contact Weichert Realtors – Porter Properties a local Auburn real estate company for a free comparative market analysis or to schedule a property showing. Auburn home real estate search can be found online 24/7 at PorterProperties.com.
Auburn Homes: auburn, auburn al home for sale, Auburn Homes, auburn homes for sale, Auburn Listings, auburn real estate, buyers, Buying, condo, home, market, market values, porter properties, property, purchasing, real estate, search, weichert
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Tags: auburn, auburn al home for sale, auburn homes for sale, auburn real estate, buyers, Buying, condo, home, market, market values, porter properties, property, purchasing, real estate, search, weichert
Posted in Auburn Homes, Auburn Listings |
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Wednesday, November 9th, 2011
Auburn was just listed as one of the best places to retire. Are you considering buying real estate in Auburn when you retire?
 According to USNews Auburn Alabama made the list as one of the top places to call home after the working years are over.
Popular Auburn Real Estate Choices
Auburn Condominiums are popular due to low maintence requirements. In addition there are many great selections to choose from. New construction homes and great locations are features that many find appealing.
Residents in this friendly community enjoy many lifestyle perks. Cultural attractions, recreational activities, community events, parks and of course a big part of life for many is football. When the Tigers play at home the town bursts with enthusiasm.
Want to learn more about living in Auburn Alabama?
Weichert Realtors – Porter Properties, a locally trusted source for both buyers and sellers seeking information about real estate in Auburn is ready give you an exclusive tour of their community and answer all of your Auburn real estate questions.
Real Estate in Auburn for sale can always be viewed online 24/7 at PorterProperties.com.
Auburn Homes: alabama, auburn, auburn alabama, auburn for sale, Auburn Homes, auburn real estate, buyers, buyers and sellers, Buying, find, home, real estate, real estate in auburn, sale, sellers
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Tags: alabama, auburn, auburn alabama, auburn for sale, auburn real estate, buyers, buyers and sellers, Buying, find, home, real estate, real estate in auburn, sale, sellers
Posted in Auburn Homes |
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Saturday, August 13th, 2011
Buying property in Auburn or anywhere else can be stressful.
Proper preparation can help eliminate most stressful situations.
 There are many stages and procedures involved in a real estate transaction. Prior to viewing homes there are certain measurements that can be taken to make the transaction as stress free as possible.
This checklist should be used as a guide to make it easier to find the ideal Auburn property in the shortest amount of time while eliminating elements of surprise.
Choose an Auburn Realtor
Choosing a Realtor in Auburn that is knowledgeable about current market trends, one who can compare recent sales to Auburn properties of interest, is a good negotiator, listens to your objectives, is willing to answer questions and expresses an overall attentiveness in your best interest can be invaluable.
Requesting references from a Realtor can help you select the right one.
Affordability
Learning how much you can afford and obtaining a monthly payment that is comfortable to you is another important first step. This can be accomplished by obtaining a pre-qualification letter from a mortgage lender. The lender can also provide other financial qualifications such as down payment requirements, necessary net worth requirements, mortgage insurance payments, interest rate options plus more.
Wish List
A written wish list that prioritizes desired property locations, features and amenities can be used as a check list when visiting numerous properties for sale. It can also be used to help communicate your perfect home requirements with your Realtor. While it may not be possible to get everything on your wish list, getting most might be considered a success.
Every home buyer has different situations and needs that are unique to their personal circumstances. Use these 3 steps as a guide to help eliminate unnecessary complications and enjoy a great experience to purchase your dream property in Auburn.
If you have questions about buying property in Auburn, local Auburn Realty Weichert Realtors – Porter Properties is always ready to help by providing reliable answers.
Auburn Homes: al, auburn, Auburn properties, auburn realtor, Auburn Realtors, auburn realty, buyers, Buyers, Buying, experience, find, home, market, porter properties, property, property in auburn, purchasing, real estate, Real Estate FAQS, realtor, realty, weichert
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Tags: al, auburn, Auburn properties, auburn realtor, auburn realty, buyers, Buying, experience, find, home, market, porter properties, property, property in auburn, purchasing, real estate, realtor, realty, weichert
Posted in Auburn Realtors, Buyers, Real Estate FAQS |
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Monday, August 8th, 2011
A real estate title report is prepared after a property title search has been conducted. They contain comprehensive property information and play a significant role in Auburn real estate transactions of all types.
There are several different types of reports and most contain historical data about the property and owners to determine if the property:
- has liens such as mortgages or assessments.
- has restrictions such as use of land.
The records and data used to produce a real estate title report are public, however, a title company or attorney are often used.
Real estate buyers frequently purchase title insurance. This is an insurance policy sold by a title company in support of its findings. It protects the buyer from unforeseen property issues that may arise after a real estate closing.
Most mortgage companies require title insurance as part of their approval to ensure a clean title is in place.
A title report is an important part of buying and selling real estate in Auburn. If you have questions about title reports or other practices involving a real estate in Auburn contact Weichert Realtors- Porter Properties.
472 North Dean Road
Suite 200
Auburn, AL 36830
334-887-2070
Auburn Homes: al, auburn, auburn real estate, buyers, Buyers, Buying, property, real estate, Real Estate FAQS, real estate in auburn, search, Sellers, selling, title insurance, title report, weichert
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Tags: al, auburn, auburn real estate, buyers, Buying, property, real estate, real estate in auburn, search, selling, title insurance, title report, weichert
Posted in Buyers, Real Estate FAQS, Sellers |
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Thursday, August 4th, 2011
Auburn Alabama Real Estate Closing Costs Tips
Real Estate closing costs are fees associated with the closing of a real estate transaction. When a home is transferred from a seller to a buyer is referred to as the closing. Typically the majority of closing costs are paid at this time, while some are paid prior.
Standards or regulations surrounding closing costs vary from state to state.
Seller closing costs are often those associated with the sale and transfer of the property such as:
- Real Estate Broker commissions
- Title transfer fees
- Title insurance
Buyer closing costs are often those associated with the mortgage application such as:
- Application fee
- Points
- Pre-paid interest
- Credit report
- Appraisal
Closing costs can be part of the purchase price negotiation process. Both parties must agree to the terms of the transaction and who is responsible for the closing costs. For example, a buyer may ask the seller to pay points or mortgage pre-paid interest if they need assistance buying down the mortgage interest rate.
Because every Auburn Alabama real estate transaction is unique, it is important to work closely with a Real Estate Agent to understand what closing costs are your obligations, what can be negotiated and when they need to be paid.
Contact Weichert Realtors – Porter Properties if you have questions about Opelika – Auburn Alabama real estate closing costs and how they will affect your next real estate transaction.
472 North Dean
Road Suite 200
Auburn, AL 36830
PH 334-887-2070
EMAIL:Sales@porterproperties.com
Auburn Homes: agent, al, alabama, auburn, auburn alabama, Buyers, Buying, closing costs, home, porter properties, property, real estate, Real Estate FAQS, sale, Sellers, weichert
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Tags: agent, al, alabama, auburn, auburn alabama, Buying, closing costs, home, porter properties, property, real estate, sale, weichert
Posted in Buyers, Real Estate FAQS, Sellers |
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Tuesday, August 2nd, 2011
Is Buying Fixer Upper Homes in Auburn AL a Good Investment?
 Fixer-uppers refer to homes in various states of disrepair or those that have not been updated in many years and need renovation.
Intrepid buyers who purchase homes in Auburn AL that need work should consider the cost and time involved in the renovation project. Once improvements have been completed most expect an increase to the homes market value.
A renovation project can be either a minor or a major task depending on the scoop of the improvements or renovations being made. Cosmetic upgrades such as replacing fixtures, painting or other minor improvements take less time and money.
Auburn AL Homes and Buying Objectives -
A fixer upper can be a good investment if used to convert an existing structure into a dream come true residence or as an investment. Those purchasing a home to live in expect to pay less than the market warrants. Real estate investors who buy fixer uppers usually sell the home once the work is completed.
Buying the least desirable house in the most desirable neighborhood is a practice some real estate investors abide by. A buyer that plans on living in the home after renovations are completed should look for a property in a neighborhood or community that matches their lifestyle.
Homes in Auburn AL that need fixing up can be a good investment. There are many factors to consider if this route is better investment than purchasing a home that is in move in condition.
Expert Help Buying Homes in Auburn
If you want to explore fixer upper homes for sale in Auburn AL contact Weichert Realtors – Porter Properties. Experience and local real estate market knowledge from an expert can help you analyze the pros and cons associated with purchasing homes in Auburn AL.
Weichert Realtors – Porter Properties Contact Info
Auburn Homes: agent, al, auburn, auburn al, Auburn Homes, Auburn Homes, auburn real estate, buyers, Buyers, Buying, experience, fixer uppers, home, homes for sale in Auburn AL, homes in auburn, improvements, market, porter properties, property, purchasing, real estate, Real Estate FAQS, renovation, sale, weichert
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Tags: agent, al, auburn, auburn al, Auburn Homes, auburn real estate, buyers, Buying, experience, fixer uppers, home, homes for sale in Auburn AL, homes in auburn, improvements, market, porter properties, property, purchasing, real estate, renovation, sale, weichert
Posted in Auburn Homes, Buyers, Real Estate FAQS |
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Monday, July 25th, 2011
Renting VS Buying Homes in Auburn – A Real Estate Decision
 There are both advantages and disadvantages to home ownership. Reviewing the combination can help potential home buyers make educated decisions based on their personal situation. A professional Auburn real estate agent can provide further insights.
Home Buying – Financial Comparison
Today more than ever the ultimate decision is often based on a financial assessment. A monetary analysis can help you visually examine the significance financial differences when deciding if renting or purchasing a home in Auburn best fits your unique circumstances.
Home buying financial factors to consider:
- how long you plan to leave in the home
- down payment requirements
- real estate property taxes
Often renting or leasing a home involves a fixed monthly payment.
Recently NYTimes.com published an online calculator that helps answer the question… Is it better to buy or rent? By entering real numbers it will compute a year by year analysis and compare financial differences. View the buying verses renting calculator here: http://www.nytimes.com/interactive/business/buy-rent-calculator.html
Auburn Homes: agent, auburn, auburn real estate, buyers, Buyers, Buying, home, homes in auburn, property, purchasing, real estate, Real Estate FAQS, real estate financial information, sale
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Tags: agent, auburn, auburn real estate, buyers, Buying, home, homes in auburn, property, purchasing, real estate, real estate financial information, sale
Posted in Buyers, Real Estate FAQS |
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Wednesday, July 20th, 2011
Home buyers in Auburn AL commonly ask this question…
When is the best time to buy a home?
There are several reasons someone may decide now is the time to buy or put the decision off. Nobody can know except for you!
We are bombarded with real estate news. The real estate environment is constantly changing. And while it is smart to understand the local real estate trends and conditions, there is never a perfect answer to this common question.
The decision to buy a home is unique to every situation. Knowing your short term and long term home ownership objectives is a great place to start.Your personal situation maybe the most important consideration. Purchasing a home should be considered a long term purchase and not a disposable asset.
Things to consider about home ownership:
- affordability
- interest rates
- down payment requirements
- credit worthiness
There is a lot to consider when deciding if now is the time to buy a home. Your Auburn real estate agent can help you digest the vast amount of real estate market data to further help you make a good decision.
472 North Dean
Road Suite 200
Auburn, AL 36830
PH 334-887-2070
EMAIL:Sales@porterproperties.com
Auburn Homes: agent, al, auburn, auburn al, auburn homebuyers, auburn real estate, buyers, Buyers, Buying, home, market, market update, porter properties, purchasing, real estate, Real Estate FAQS, weichert
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Tags: agent, al, auburn, auburn al, auburn homebuyers, auburn real estate, buyers, Buying, home, market, market update, porter properties, purchasing, real estate, weichert
Posted in Buyers, Real Estate FAQS |
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Friday, July 15th, 2011
A real estate appraisal is an important part of a real estate transaction. Appraisals are very detail reports providing an accurate market value for a property. They are most often required by the lender.
The person who provides real estate appraisals is called an appraiser. An appraiser is
- licensed and completed a course required by the state in which the appraisal is conducted
- a third party without any connections to the real estate transaction
 How is the value of a property determined?
Data is collected and analyzed by the appraiser. He or she will compare the subject property (the home that is being appraised) with a minimum of three properties (called comparable or comps) that have recently sold.
A comparable is a property that is as similar to the subject property as possible. Both recent sales and prominently to the subject property are considered most effective. Other considerations include property type, square footage, bedroom and bathroom count, property conditions etc.
The side by side comparison adjustments include:
- the overall local real estate market conditions
- and many other relevant influences
What happens when an appraisal comes in lower than the agreed upon price in the purchase agreement?
The buyer’s lender is probably going to make adjustments to previous mortgage approvals which could dramatically affect the buyer’s ability to complete the purchase. Sellers may need to renegotiate the original purchase agreement to ensure a successful transaction. When an appraisal comes in at or above the purchase price indicated in the purchase agreement both the buyer and seller are one step closer to a closing.
Both buyers and sellers can help eliminate unforeseen problems to the real estate transaction such a low appraisal with a comparative market analysis (CMA). A CMA is very similar to an appraisal and is provided by their Real Estate agent.
Weichert, Realtors ® – Porter Properties offers free comparative market analysis to all Opelika and Auburn homeowners. If you would like to uncover the market value of your home call them today at 334-887-2070. You can also view Opelika and Auburn properties for sale online 24/7.
Auburn Homes: appraisal, auburn, Auburn properties, buyers, buyers and sellers, Buying, home, market, market values, porter properties, property, real estate, Real Estate FAQS, sale, sellers, selling
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Tags: appraisal, auburn, Auburn properties, buyers, buyers and sellers, Buying, home, market, market values, porter properties, property, real estate, sale, sellers, selling
Posted in Real Estate FAQS |
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