Patti Lambert's Team

WOW! We did it again!

2009-06-17T16:36:00.000-07:00

Decatur, AL - Named #2 in the TOP TEN MARKETS WITH RISING HOME VALUES!

How exciting is this in the grand scheme of things with the real estate market!

This is a great town that has so much to offer, and to be continually improving and growing!
Thank you, thank you to all in our community who put back into our community and continue to make Decatur a great place to raise a family, retire, and just live! Conveniently located in North Alabama 20 minutes or less to the Redstone Arsenal, Great New Construction areas growing continually...LOVE IT!

Want to see the other 9 forerunners? http://realestate.yahoo.com:80/promo/ten-cities-with-rising-home-values.html

Let me know if I can ever be of assistance in offering you a market analysis on your home, purchasing you home, or helping you with your relocation to the area! I am a 30 year realtor, with 25+ years in Decatur, AL, with strong community involvement, and I am dedicated to finding the right home for you!

Patti Lambert
pattilambert@charter.net
256-227-9180

BRAC and HUNTSVILLE AREA...

2009-04-10T18:31:00.000-07:00

BRAC Relocation and new incoming military personnel at HSV Redstone Arsenal is an exciting opportunity for growth for the Huntsville and Decatur areas!

With the economy downturns there has been discussion of the reorganization being restructured - but GREAT news TODAY that this is not going to be happening and Huntsville, AL is still going to be receiving the restructed solidiers and personnel. Article released today assures this: http://www.al.com/huntsvilletimes/stories/index.ssf?/base/news/123935498242100.xml&coll=1

Please let me know if I can be of any assistance to you or your friends/family that may be affected by this relocation! With 27+ years in real estate, I can bring you the professional services that you need in your relocation! Would be my pleasure as a military brat myself to work with you!

Call, email, message me here - would love to hear from you!

Decatur, AL Named #1 for House Appreciation!

2009-02-25T17:39:00.000-08:00

WONDERFUL NEWS to hear in this market!

http://decaturdaily.com/detail/29400.html

Please read and share!

Stimulus Explaination

2009-02-18T20:24:00.000-08:00

Found this great Stimulus Explaination on Tax Credit for First-Time Homebuyers!

http://www.federalhousingtaxcredit.com/2009/glance.php

DECATUR TOP PLACE TO RETIRE BY US NEWS!

2009-02-12T20:50:00.000-08:00

GREAT NEWS!

DECATUR, AL has been picked as TOP Location to RETIRE by US NEWS!

http://www.usnews.com/listings/retirement/alabama/decatur

Exciting news, ready to head to town?!
Let me know, I would love to get you more information on the area, and aid in your search! Look forward to hear from you!

Economic Stimulus Bill...

2009-02-05T21:20:00.001-08:00

Urgent Message from Dave Liniger:

If you have been watching the news this week, you may have noticed that the debate in Washington has finally turned toward real stimulus for the housing industry. As a result, I believe that we could be on the brink of a substantial turn around in the real estate market. Now, it’s critical that we all join together and deliver a powerful message to our legislators that we support this stimulus.Last night, the Lieberman/Isakson Amendment was included in the senate version of the Economic Stimulus Bill by a unanimous voice vote. This amendment would provide a Tax Credit to all home buyers at the rate of 10% of the sales price up to a limit of $15,000. The credit would be available for a one year period to all purchasers of primary residences. Today, the senate expects to debate Amendment 353, a proposal by Senator John Ensign (R-NV) that would provide 30 year fixed financing at a rate of about 4%, for anyone purchasing a primary residence.If these two provisions survive in the final passage of a stimulus bill they could have a tremendous impact on our industry. If they are coupled together with provisions to ease the flow of credit and reduce foreclosures, we could see an immediate and dramatic turn-around in real estate.I feel that these provisions represent real economic stimulus. They will put money in the hands of millions of homeowners, increase sales, stabilize home values and add more revenues to local communities in the form of property taxes.I urge each of you to contact your senators and representatives to let them know that you believe these provisions are essential components of any stimulus bill. You can go to the official Senate and House web sites to locate the email and phone number of your legislators.This may be one of the most critical moments for the real estate industry in our time. Please pass this information on to anyone you might do business with. The outcome of this legislation will have a lasting impact on us all. I appreciate your assistance on this urgent matter.Thank you.

Copyright 2009RE/MAX International, Inc.5075 S. Syracuse Street Denver, Colorado 80237

A Home-Buyer Tax Credit Worthy of the Name

2009-01-29T16:50:00.000-08:00

Should you give the $7,500 home-buyer tax credit a second look?

Now that Congress might be on the verge of transforming it into a true tax credit -- one that never has to be paid back -- you might want to do so.
On Jan. 15, the House Democratic leadership outlined its $825 billion economic stimulus package, loaded with $275 billion in tax cuts and $550 billion in new spending on health care, education, alternative energy and infrastructure improvements. Tucked away in the tax section was a significant improvement to last July's congressional effort to stimulate home sales. That program offered a credit of up to $7,500 to purchasers who had never bought a house or hadn't owned one during the previous three years. To qualify, taxpayers would need to close on a house between April 8, 2008, and this coming July 1. But relatively few people were attracted to the plan because unlike almost all other federal tax credits, this one had to be repaid in full over a 15-year period. In effect, the $7,500 was more like an interest-free installment loan from the government than a straightforward dollar-for-dollar reduction on buyers' tax bills. Although final details on a revised credit are still subject to negotiations between the House and Senate -- and to passage of the economic stimulus package itself -- there's a good chance that buyers who sought the credit in 2008, and new purchasers in 2009, will be relieved of the repayment requirement. According to industry projections, removing the repayment rule could lead to an additional 202,000 purchases this year.
The National Association of Realtors is pushing for the July 1 deadline to be extended to Dec. 31, opening the door to even more sales. Meanwhile, the IRS has come out with two recent advisories on the credit, plus a new Form 5405 for taxpayers interested in claiming the $7,500 benefit, either for 2008 or 2009. You can download a copy of the form at http://www.irs.gov in the publications and forms section.

Based on the latest IRS guidance, here's what you need to know if you're thinking about buying a house this year -- taking advantage not only of low prices and record low mortgage rates, but a temporary tax credit that might or might not eventually have to be repaid. * The $7,500 is available to singles, married couples filing jointly and unmarried co-purchasers, provided they meet the non-ownership test for the previous three years. Married couples filing separately can claim up to $3,750 each. Unmarried individuals can allocate the credit on their filings according to their respective ownership shares or capital investments in the house. * Only principal residences -- or in the IRS's words, "the one you live in most of the time" -- are eligible.

No second homes, investment properties or houses outside the United States pass the test. However, the definition of "home" extends far beyond conventional houses sited on lots. It "can be a . . . houseboat, housetrailer, cooperative apartment, condominium or other type of residence," according to Form 5405. For example, if you buy a sailboat or powerboat with full living facilities, tie it up at a marina, and make it your "main home," you should be eligible to claim the credit, though you might want to run all the specifics of your situation by your accountant or tax adviser. * Even if it's your first home purchase, you are not eligible if your adjusted gross income is above $95,000 (single filer) or $170,000 (married joint filers). Married couples with incomes between $150,000 and $170,000 are eligible for reduced credits, based on a phase-out schedule. Single filers with incomes between $75,000 and $95,000 also are subject to reduced credit limits. D.C. home buyers who are eligible for the city's first-time buyer credit are barred from use of the federal tax credit. Taxpayers who use tax-exempt mortgage bonds issued by state or local governments to finance home purchases also are ineligible. * You can't claim the $7,500 credit if you buy your house from a "related person," meaning a spouse, parents, grandparents, children or a corporation or partnership in which you own more than 50 percent of the stock or capital interests. If you pass all of these tests, and get the purchase done by whatever deadline Congress decides as part of the final stimulus package, you should be able to take $7,500 off your federal tax bottom line, and possibly not worry about ever paying it back.
By Kenneth R. Harney Saturday, January 24, 2009;

Cell Phone Numbers Go Public Next Month!

2009-01-29T16:25:00.000-08:00

All cell phone numbers are being released to telemarketing companies and you will start to receive sale calls. YOU WILL BE CHARGED FOR THESE CALLS.
To prevent this, call the following number from you cell phone 888-382-1222.
It is the National DO NOT CALL list.
It will only take a minute of your time. It blocks your number for five (5) years.
You must call from the number you wish to have blocked.

Help others by passing this along.

This will also work for your home phone.

Tips for Preparing Buyers in 2009

2009-01-11T18:33:00.000-08:00

I came across a blog article on Tips from a broker on getting yourself ready to purchase a home, and thought it was good enough to share. Make a new year's resolution to take the steps to purchase a home.

Link to artice directly: http://blog.al.com/regb/2009/01/steps_to_preparing_to_purchase.html

Steps to preparing to purchase a new home in the new year
Posted by asarchib January 11, 2009 17:06PM

We continue our series on the local real estate market with a look at getting ready to purchase a new home in the New Year.

Physical fitness is at the top of many New Year's resolution lists. But with local real estate in a buyers' market mode, some are including home-buying fitness on their tally of ways to improve their lives in 2009.
"There's a real quick list," Scott McFadden, co-owner of MortgageBanc, said of getting your financial house in order - in order to buy a new home.

Obtain pre-qualification for a mortgage.Clean up and/or correct your credit report.Have adequate cash reserves before applying for a mortgage.
Step number one, McFadden said, is getting pre-qualified for a mortgage loan. That's when an applicant provides verbal information about their assets, income and debt to a mortgage professional to determine the price - including monthly payments - for which he or she likely will qualify.A critical step the mortgage lender takes is running a check on the applicant's credit rating.
Credit ratings are based on how much debt an applicant has relative to how much he or she is approved for, how long he or she has had credit and how promptly they pay back creditors. They profoundly affect how much and at what interest rate an applicant can borrow money. But sometimes they reflect errors."You would really be surprised how often there are mistakes or errors that need to be corrected," said McFadden, who has been in business since 1995 and has run thousands of credit reports.
Even minor mistakes can drastically drop a score. "To make sure everything is correct is paramount."
So is having enough cash on hand.McFadden said many people believe alleviating debt before applying for a mortgage is their top task, but that's not always the case."My suggestion is to not do anything until you consult your mortgage professional," he said. "Right now cash is king. Sometimes it makes more sense for people to have available more cash than less debt, because being able to put down more money gives them more options than paying down certain items."
A rule of thumb (on an FHA loan) is have a 3.5-percent down payment and two months' mortgage payments in reserve.
With a conventional loan, applicants need at least 5-percent down with two months' payments in reserve.If the borrower has enough money in reserve - or after he or she has secured a mortgage - they then should begin paying down debt.
And there is a proven way to do so in the shortest amount of time."Pay off the lowest balance with the highest monthly payment and move forward accordingly," McFadden said. "If you've got a $500 balance and your payment is $250, pay that off first, then take that payment amount and pay off the next-lowest balance with the next-highest payment. Because it's not necessarily the loan that has the highest interest rate that you knock out first, and you don't have to change how your budget is spent."
And if a purchaser has their financial house in order, now is a great time to buy, said a local Realtor."The number-one reason is without question - and this is always going to remain true - (buying a home) is the American dream in good times and bad times," said RealtySouth's Ed Coe. "Next to having a good marriage and a healthy family."And next - rates are lower than they've ever been since I've been in the business."The fixed interest rate Thursday on a 30-year loan was about 4.75 percent, McFadden said.
Along with contacting a mortgage professional, Coe encouraged calling a Realtor."People that really want to buy a house if they'll call professionals they'll get some answers," he said. "If you're in a desert and you see somebody riding a camel and the camel's moving I'd ask them 'Where is the water?' The people who are out there doing business have the answers."

Have questions, need advice, ready to start looking in the market? Contact me!

Real Estate Improvement in 2009 Projected

2008-12-21T20:51:00.000-08:00

Huntsville Times Article from Sunday, 12/21/08

Title: Real Estate To Improve in 2009!

http://www.al.com/huntsvilletimes/stories/index.ssf?/base/living/122985457061270.xml&coll=1

FORBES Lists Madison County, AL as #1!!

2008-12-14T12:30:00.000-08:00

I am posting a link to Forbes.com's article listing Madison Co., AL as the #1 place to live in the US during the current economic downturns!

Great News!

http://www.forbes.com/2008/11/12/cheap-cities-affordable-forbeslife-cx_hc_1112realestate_slide.html

Home Inspection Survival Guide

2008-12-13T12:06:00.000-08:00

It’s like a scene from a reality television show. Strangers arrive at your front door and dive into every nook and cranny of your personal space. For hours on end they open closets, crawl through your belongings, turn on every faucet in the house, flush toilets, fire up your oven and run your washer, dryer or any other appliance they can find. Then, they climb your roof, wander through your basement and seemingly trounce over every square inch of your yard. Your challenge, as the contestant in this show, is to remain pleasant, cheerful and completely accommodating while these personal invaders tear through your home.
But if you survive the harrowing ordeal without blowing a fuse, the payoff can be big: a windfall of hundreds of thousands of dollars from the sale of your home.
According to a joint study by the American Society of Home Inspectors (ASHI) and the National Association of Realtors (NAR), nearly four out of every five homes sold in the nation are evaluated by a professional home inspector before they are sold. Hired by the homebuyer, these inspections are designed to protect the buyers from investing in a home that turns out to be a real life money pit. NAR reports that realtors recommend buyers get a home inspection nearly 99% of the time. Most buyers heed that advice, requesting home inspections in 84% of all transactions.
For sellers, understanding the inspection process and preparing your home for the inevitable evaluation not only helps to ensure that the transaction goes through, but can often translate into getting a top-dollar selling price as well.
How It WorksNearly all purchase contracts for homes sold today include an inspection contingency clause, a provision to allow the buyers to hire a home inspector of their choosing to thoroughly evaluate the home for any major problems.
Once the contract has been signed, inspections usually happen quickly. After an appointment is made with the seller, the home inspector arrives with buyer in tow, and goes through the entire house. Typically, a home inspection will take two to three hours and include a check of the home’s structural and mechanical condition. But besides the structural and mechanical inspection, inspectors may also do tests for radon gas, check for wood destroying insects, or perform other services requested by the buyer.
Since 1976, home inspections have been standardized by the nation’s leading inspector association, the American Society of Home Inspectors (see ashi.org). Also known as ASHI, the Society’s “Standards of Practice” dictate what must be inspected and how far inspectors need to go to report those findings.
According to ASHI, a basic home inspection includes an evaluation of 10 different areas of the home: structure, exterior, roofing system, plumbing system, electrical system, heating system, air conditioning system, interior, insulation and ventilation, and fireplaces.
Within these areas, ASHI’s Standards of Practice details what inspectors must look at, as well as what may be excluded, from the inspection. For example, when inspecting the roofing system, inspectors must evaluate the roof shingles, gutters, flashing, skylights, chimneys and other penetrations like plumbing vents. However, an inspector is not required to inspect a roof antenna, or to look inside chimneys that may not be readily accessible.
When the home inspection is complete, the inspector will issue a report to the homebuyer detailing what was found. Inspectors will report on problems needing immediate attention, as well as conditions that can lead to more serious defects down the road.
So Now What?What happens next is usually detailed in the inspection contingency clause. Typically, there will be additional negotiation between buyer and seller if problems are found. In most cases, the difference between what a buyer expected going into the transaction and what was actually uncovered by the inspection, defines the scope of what they might ask the seller to fix.
For example, the buyers may have known the roof is old, so a report detailing a roof in need of replacement might not raise eyebrows. However, if they expected to get through their first winter without buying a brand new furnace, which turns out to be needed, sellers can expect a request to toss one into the transaction.
In a best-case scenario, resolving these disputes is best done by sharing the expense. After all, the seller didn’t promise a home with a brand new furnace and the buyer wasn’t expecting to go 20 years without replacing the existing one. Splitting the cost in a case like this is a fair and reasonable way to resolve the issue.
Dress for Success Most home sellers don’t think of themselves as fierce competitors in a market of high-priced products. But make no mistake, if your home is on the market, you are. Homes are a high-priced commodity and in any given city, there are hundreds from which buyers can choose. The best way to make certain your home attracts buyers and the highest possible sales price is to make sure it’s “dressed for success,” both inside and out.
A fresh coat of paint and some new landscaping may seem like obvious first steps in prepping your home for sale, but when it comes to the home inspection, there’s much more to do.
Start outside repairing minor things like loose steps, disconnected gutters and rotted trim. Look, with a critical eye, for anything that’s been neglected and needs repair, like a rotted windowsill or missing roof shingle. A pair of binoculars is a good tool to use for the roof review. Besides missing shingles, look for loose metal flashing around chimneys and plumbing vents, a common cause of leaks.
Inside the home, give your mechanical systems an honest assessment. If your heating and cooling system hasn’t been recently inspected and serviced, do it now. If you are aware of any minor plumbing or electrical repairs that need to be done, get them done way before the inspection takes place. Leaky toilet fill valves, drippy faucets or electrical outlets that don’t work might seem minor, but fixing them now not only means you’ll have less to worry when the inspection is done, it also shows both the inspector and the buyers that you’ve taken good care of your home.
What’s Good for the Goose, is Good for the Gander If you can afford it, one of the smartest things you can do to get your home ready for sale is to hire your own home inspector to go through it before it goes on the market. Doing this will provide several distinct advantages.
First, it is likely to avoid “surprises,” like when the buyer’s inspector proclaims your electrical panel needs to be replaced. By the time the contract price is agreed to, most sellers have negotiated down as far as they want to go and the buyers have also offered up the most they want to spend, so finding a costly problem at this late stage can send the transaction into a tizzy.
Secondly, if problems are discovered, you have the time and the ability to either repair these on your own schedule or to disclose them upfront to the buyer, eliminating the possibility that the buyer will demand you make repairs later. Plus, if repairing the problem is your choice, you can do so without the buyer looking over your shoulder, second-guessing every decision you make.
Finally, once the buyer hires his own inspector, you’ll have a good baseline by which to compare the new report. While inspection reports will rarely match item for item, major differences are rare amongst qualified and experienced inspectors. Your home inspector can even become your advocate by looking over and dissecting the buyer’s inspector’s report.
To find a qualified inspector in your area, use the “Find an Inspector” locator on the ASHI web site at www.ashi.org. Inspectors listed here have met rigorous testing and experience requirements and are among the most qualified in the nation. By submitting an inquiry to an inspector through the site, your information is transmitted electronically in real-time, saving you time and helping you connect with an inspector more quickly.
Rules of the Road While the home inspection can be both intimidating and invasive, remember that the inspector works for the person who hired him or her. Inspectors will only discuss their findings with their own customer. Therefore, the seller will most likely be the last one to hear about trouble in the transaction when the buyer has arranged for the inspection. While it may seem unfair, that’s the way it is. In fact, in some states that license home inspectors, they are prevented by law from disclosing the results of the inspection to anyone but their client.
Besides getting your home in tip-top shape for the inspection, the best thing you can do during the process is to disappear. Homebuyers will be more comfortable discussing their concerns openly with the inspector if you are not within earshot. And since watching the inspection process can feel akin to being awake during open heart surgery, being away will also keep your stress levels in check.
Whatever you do, do not follow the home inspector and buyer around. If there’s one thing that drives both buyer and inspector nuts, it’s this. Buyers often perceive such overly supervisory behavior as evidence of a home seller trying to hide a defect and worried about whether the jig is up. Home inspectors will be annoyed and, human nature being what it is, the process may become needlessly tense, when it should be educational.
For the best results get your home ready – then get out of the way.
www.moneypit.com

XEROX - Holiday Cards for Soliders

2008-12-12T22:15:00.000-08:00

XEROX IS DOING SOMETHING COOL

If you go to this web site, www.LetsSayThanks.com you can pick out a thank you card and Xerox will print it and it will be sent to a soldier that is currently serving in Iraq .

You can't pick out who gets it, but it will go to a member of the armed services.

How AMAZING it would be if we could get everyone we know to send one!!!
It is FREE and it only takes a second.

Wouldn't it be wonderful if the soldiers received a bunch of these? Whether you are for or against the war, our soldiers over there need to know we are behind them.

This takes just 10 seconds and it's a wonderful way to say thank you. Please take the time and please take the time to pass it on for others to do. We can never say enough thank you's. Thanks for taking to time to support our military!

Home Maintenance Tips!

2008-12-12T22:02:00.000-08:00

"Success is the sum of small efforts, repeated day in and day out.”
-- Robert Collier

Home Maintenance Tips -
There are some simple and effective home maintenance tips to consider at this time of year. Bringing your home up to weather efficiency will save both energy and money.

1. In warmer climates, reduce watering times on your irrigation controller and be prepared to turn the irrigation controller “off” during prolonged rainy periods. Reducing your water usage is conservation of a limited resource - and it also reduces your water bill.
2. Check all your yard drains and swales. Make sure they are functioning properly and taking runoff away from your house. Water intrusion to the home may be caused by runoff pooling against or under your foundation. Direct runoff water away from your home and into a local storm drain. The same goes for rain gutters - make sure the gutter is clear of debris and that the drain leads the runoff away from your home.
3. Check the weather-stripping on all exterior doors. Does it form a tight and unbroken seal? If not, replace the weather stripping. Inefficient weather stripping allows that nice warm air from your heater to escape outside - increasing your energy bill.
4. Speaking of your furnace, when was the last time you checked the air return filter? A dirty filter makes your heater work harder and spreads dust throughout your house. A clean filter allows your heater to work more efficiently, saving you money.
5. Check your windows. Are the tracks clean? Dirt and dust in window tracks can cause damage to your windows and/or create paths for the warm air inside to leak outside.
6. And, while you are checking your windows, look at the caulking around the window frame. Broken or missing caulking can let water in to your home or warm air out. A tube of caulking is relatively inexpensive compared to the damage water can cause or the cost to heat your home.
7. If you have a wood burning fireplace, make sure the damper is open before you light the fire. And, always close the glass doors to keep embers from escaping the fireplace box. Burn only manufacturer-approved materials and wood types in your fireplace. Trash, gift-wrappings and compressed logs should never be burned in your fireplace.

Tips courtesy of Steve at http://expectmoreinahome.com/blog/home-maintenance-tips/