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Alabama Mortgage and Loan
Specialists with your home in mind.

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What price of home can I afford in Alabama?

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Elizabeth Stevenson
Loan Specialist

Hours: 10am-6pm Mon.-Fri. MST
Phone: (877) 511-8811
Fax: (866) 897-2452

Make an Informed Offer...
Once you have determined the price range of the home that you can afford, and have found a home that you want to make an offer on in that price range, there are two things you absolutely must do before making an offer.

1) Always make sure that your real estate agent gives you a list of comparable homes in the neighborhood that are for sale and/or have recently sold (this is called a comp list). Once you have the comp list, separate all of the recently sold homes, and then make an average of the sold home prices. This will tell you if the sellers asking price is above or below the average selling price in your neighborhood, which is vital when deciding what to offer.

2) Also on your comp list of recently sold homes, find the number of days that each of the sold homes were on the market before they sold, and make another average. This average gives you insight as to how long the sellers home has been on the market compared to the neighborhood average, and how motivated the sellers are.

Once you have these numbers and an appraisal for the home, you are ready to make an informed offer. For information on how to make the best offers and also how to protect yourself when making an offer, click here.