Tonight, I was lucky to watch Christmas at the Opry, and what a fabulous program. If you did not watch it, you missed a great program filled with all the songs of the Christmas season. As I watched, I reflected on the memories that are centered with Christmas and I invite you to do the same.
The 13th of December is the first night of Hanukah, which will start 7 days of celebration for the Jewish faith. It is a special time for all.
But going back to many of my memories I reflect on my lifetime and the old and new memories. My father died when I was 5 ½ and was raised by my beloved Mother. Mother always had a Christmas tree which normally set on our bay window. This one year, she decided not to get one. I was in the 10th grade and my date and I picked up one that had been discarded on a curb right before Christmas and delivered it to my Mother. That night we decorated it together and the next day Santa came and delivered Christmas under that tree. You know, you never know what Christmas will bring.
So many memories on this season. Now, my biggest and fondest memory is to invite all of our grands and greats to decorate Ju Ju’s tree. Lights are put on with one grand and my brother-in-law. Then the action begins with each one reaching in the big red storage bin and pulling out the decorations. Our tree blossoms with love from each one that has participated. Pizza is normally served, and it starts the season.
This year, take time to remember and share with your families. It is a special time of the year.
It’s a Sellers’ Market on the Eastern Shore
It’s a Sellers’ Market
Some Highlights
- Over the past year, homeowners have gained an unprecedented opportunity to sell with great success while buyer demand is soaring.
- With homes selling twice as fast as they did last year at this time, getting multiple offers, and rising in price, homeowners are in the driver’s seat.
- Let’s connect today if you’re ready to learn about the leverage you have as a seller in today’s housing market.
What’s the Difference between an Appraisal and a Home Inspection?
What’s the Difference between an Appraisal and a Home Inspection?
If you’re planning to buy a home, an appraisal is an important step in the process. It’s a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. It’s also a different step in the process from a home inspection, which assesses the condition of the home before you finalize the transaction. Here’s the breakdown of each one and why they’re both important when buying a home.
Home Appraisal
The National Association of Realtors (NAR) explains:
“A home purchase is typically the largest investment someone will make. Protect yourself by getting your investment appraised! An appraiser will observe the property, analyze the data, and report their findings to their client. For the typical home purchase transaction, the lender usually orders the appraisal to assist in the lender’s decision to provide funds for a mortgage.”
When you apply for a mortgage, an unbiased appraisal (which is required by the lender) is the best way to confirm the value of the home based on the sale price. Regardless of what you’re willing to pay for a house, if you’ll be using a mortgage to fund your purchase, the appraisal will help make sure the bank doesn’t loan you more than what the home is worth.
This is especially critical in today’s sellers’ market where low inventory is driving an increase in bidding wars, which can push home prices upward. When sellers are in a strong position like this, they tend to believe they can set whatever price they want for their house under the assumption that competing buyers will be willing to pay more.
However, the lender will only allow the buyer to borrow based on the value of the home. This is what helps keep home prices in check. If there’s ever any confusion or discrepancy between the appraisal and the sale price, your trusted real estate professional will help you navigate any additional negotiations in the buying process.
Home Inspection
Here’s the key difference between an appraisal and an inspection. MSN explains:
“In simplest terms, a home appraisal determines the value of a home, while a home inspection determines the condition of a home.”
The home inspection is a way to determine the current state, safety, and condition of the home before you finalize the sale. If anything is questionable in the inspection process – like the age of the roof, the state of the HVAC system, or just about anything else – you as a buyer have the option to discuss and negotiate any potential issues or repairs with the seller before the transaction is final. Your real estate agent is a key expert to help you through this part of the process.
Bottom Line
The appraisal and the inspection are critical steps when buying a home, and you don’t need to manage them by yourself. Let’s connect today so you have the expert guidance you need to navigate through the entire homebuying process.
A Quick Note From Judy Niemeyer
A quick note from Judy Niemeyer ~
Welcome to our Fall! Mornings are beautiful with lower temperatures and beautiful skies. Of course, you have to imagine fall leaves because in the South, our leaves stay green. Can you believe that Thanksgiving is around the corner?
What a year 2020 has been. It has been a tough year for all of us. It reminds me of a very bumpy road, smooth in sections, and then a rut comes and bumps us off our path. Covid-19 was the first issue that bumped us. Masks became the new norm. Then Sally struck us with unbelievable winds and destruction. Now, we sit back and see what is next. Is it another Covid-19 burst or just the flu? Who knows?
Thank goodness, our real estate market has been very active. Interest rates continue to be very low. It is a great time for people to sell and buy. A lender last week quoted a 30-year interest rate of 2.8% which is hard to believe. Even with these low interest rates, buyers are still very opinionated. Selling a home is not as easy as the general public thinks.
Let’s compare 2019 to 2020:
Presently we have 523 active homes on the market from Spanish Fort to Point Clear with 460 homes under contract. If all of these homes close, 2020 will be an incredible real estate year.
If you have questions, please feel free to call me. I always love to hear from you!
Tax Advice if You Sold Your Home
16789 River Road, Bon Secour, AL
Met a client early this morning and walked this magnificent property. 3 acres with 247 front feet on Magnolia River. The main house was built in 1850 with tons of Southern charm. The guest house is 1/1 with a wide glassed in porch. As we walked the property, birds were chirping and shrimp boats engines were humming. Serenity were the views of Bon Secour River.
A Beautiful Time of the Year..
This is the time of the year that most areas experience coloring of the leaves, but in our area we experience vivid sunsets. Have you noticed? Some nights, the colors in the sky after the sunsets are as vivid as the actual sun setting. We live in a beautiful area and I know you will agree.
The market has been very interesting this year. Prices have not increased much but we are seeing some bright spots out there. Presently there are 772 active listings in the Spanish Fort to Point Clear area. The average price is $393,911. Average time on the market for the active listings is 155 days. Since January 1, 2015, our area has experienced 1540 homes to close with an average list price of $282,974. The average sold price was $273,611. Presently, there are 212 homes under contract. As you can see, these stats are showing great improvement in our market.
The upper price point is still struggling. We have had great sales but we would like more. I do expect this to change as we go into 2016. Eventually buyers will get less opinionated on their expectations. When this day arrives, all of us will celebrate.
The great news is people are eagerly shopping on the internet. One of our listings just sold via internet without the buyer visiting. Photos are so important in marketing. As you know Allison Ashurst, my daughter –in-law is our photographer and she is excellent.
Before you know it, we will be celebrating Thanksgiving dinner. Sellers sometimes think this is the worst time of the year to sell a home. I disagree because this is the time of the year that we think home, good cooking and great family gatherings. Just remember if you are going to be out of town, please let us know.
Any questions about the market, give us a ring and we will try to answer.
Happy Holidays
Judy Niemeyer & Lucy Sundbeck
Finest Day –
Brilliant Sunset Sky
This is why I love living and selling Fairhope, Alabama. Night before last, our sky was brilliant from the setting sun. The above pictures shows the beginning to the end. Each night is different, but this night was special. Our little town of Fairhope is getting ready for downtown trick and treat. This will be Saturday from 10-2. Please stop by our downtown Ashurst and Niemeyer office.
Henry Ford once said “Coming together is a beginning. Keeping together is progress. Working together is success.”
How this saying fits with real estate but also in all walks of life. This past Friday was of course the first Friday of the month but in FAIRHOPE it is “Art Walk”. Ashurst and Niemeyer’s downtown office on Section was open to our many clients as well as public. Music was provided by Jeff Farrow, who was incredible. Thank you for all that dropped by. This night was a tremendous success.
If you have not attended Art Walk, please put it on your calendar. You can start at the Art Center and stroll throughout the town. Be sure to make reservations for dinner to top off your evening. Fairhope is a truly wonderful place to live.