Mobile Eastern Shore Real Estate Podcast-August 2008

Changing home values and higher inventories have presented difficult challenges for distressed home sellers. Fortunately, many lenders are working with sellers by accepting Short Sales and avoiding foreclosure.  Listen to our Mobile Eastern Shore Real Estate Podcast as we discuss today’s Short Sale programs, and break down our own local market trends. Featured special guest is Terri Murphy of US Learning.

 

 

 

 

 

Eastern Shore & Mobile Real Estate Update

Most of you are asking, “What’s happening in the Mobile real estate market?” Listings are selling, but at a slower pace. Prices seem to be adjusting, but not as low as the media presents to the public. Yes, we do have foreclosures and short sales, but a very small number. Today is a great day for a qualified buyer to purchase MObile real estate. The biggest problem with today is having qualified buyers.

What do we project for the future? I think this market will continue as it is until the beginning of 2009. The election will play heavily on people’s minds. Until the President is elected regardless of the outcome, sales will continue to lag at a slower pace. People always need houses and houses always sell. As one of you stated, now I know how it feels to be a bridesmaid and never the bride. Unfortunately, with so many homes on the market, it will take the perfect fit. Sometimes that fit is quick, and sometimes it takes many days.

Below, you will find an updated comparison of home sales in Spanish Fort, Daphne, Fairhope and Pt Clear, from 2007 and 2008. We are approximately 30% below the number of homes closed in 2007, but look at % to list, only 1% less. The average days on the market is not out of line from 2007. Overall, sales are down, but prices are remaining in line. Listening to the media, I was pleasantly surprised at our market.

2008
Homes Sold:  410
Days On Market: 165
% to List Price: 96%

2007
Homes Sold:  591
Days On Market:  144
% to List Price:  97%

As you know, if you have questions, please call me at 583-5923, or e-mail me at Judy@JudySells.com

Search all Eastern Shore and Mobile real estate and homes for sale.

Celebrating Independence Day in Mobile/Eastern Shore AL

Happy 4th of July, Mobile!  Although this weekend is a time for fireworks and enjoying time with friends and family, it is also a time to remember what makes our country so great – our freedom.  So as you gather with friends and neighbors on Friday, take a moment to thank our military—living and dead, at home and abroad—for the sacrifices they have made for us.  Because, as we all know, freedom isn’t free!

 

Be sure to check out the events and activities happening this holiday weekend in the Mobile/Eastern Shore area.

 

We’ll return to discussing Mobile/Eastern Shore AL real estate next week; however, if you would like more information about Mobile/Eastern Shore AL real estate, please call me at 866-560-7474 or visit JudySells.com. 

Good News For the Mobile AL Real Estate Market!

newsMobile AL real estate sales of existing homes slowed this spring, partly because restrictive lending practices hampered home buyers. At the same time, a greater number of areas are showing sales gains from a year ago and a recent reversal in mortgage policy means the Mobile AL real estate market is better positioned for a turnaround, according to the National Association of Realtors®.

NAR President Richard F. Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said the good news is that mortgage restrictions have just been eased. “In the past week, Freddie Mac and Fannie Mae announced that they were eliminating their ‘declining market’ policies, effective June 1,” he said.
 
Lawrence Yun, NAR chief economist, said eliminating restrictive policies should be a big help to home buyers. “I would encourage buyers who were disappointed by poor mortgage options to take another look at the market because the lending changes are significant,” he said. “Also, a recent notable drop in interest rates on conforming jumbo loans will help consumers in high-cost markets like California and New York.”
 
To learn more about the current conditions of the Mobile AL real estate market, please call me at 866-560-7474 or visit JudySells.com. You may also visit the MLS to begin searching for Mobile AL homes!

Happy Memorial Day, Fairhope AL!

I hope that everyone is enjoying a relaxing and safe holiday weekend. In honor of the occasion, I thought I would share this touching poem – “Memorial” – with you:

Here’s to those who paid the price
And stood atop the wall,
Who didn’t call it sacrifice,
But duty to a call.

Beyond our power to add, detract,
Or honor with parade,
Or praise with words all copper-plaqued,
In public squares displayed,

They held the line, they took the brunt
Directed at our flank.
From general to lowly grunt
Now “hero” is their rank.

For some – unknown – the laurel wreaths
Must rest on unnamed graves.
For others still, their God bequeaths
No slabs or architraves.

For other heroes, living hearts
Still speak aloud their name.
Their daughters, sons, and better-parts –
To memories lay claim.

Some met the foe with angry eye;
Some trembled at the fray;
Some grieved for wife and family;
Some paused to kneel and pray.

Yet, as their hour approached its mark
And minutes became rare,
All gazed into the dreaded dark,
And stood – where we weren’t – there.

We praise with words their bravery,
Their steadfast soldiers’ hands,
That shielded us from slavery
And wrack from foreign lands.

Now pause awhile, and think on them.
Let recollection stir
To memory, through this artless hymn,
Of those and who they were.

~Dean C. Broome, MD JD

As summertime officially approaches, this is a great time to be thinking about buying Fairhope AL real estate. To begin searching Fairhope AL real estate, please visit JudySells.com or call me at 866-560-7474.

Fairhope AL Tax Rebates: What You Need to Know

Tax rebates, which are the centerpiece of Congress’ recent $170 billion economic stimulus plan are starting to trickle in, but few Fairhope AL real estate owners and taxpayers actually understand what the rebates mean or how they may benefit.
Below are some of the main points of the plan:
  • To be eligible for a full rebate, single tax filers must have 2007 adjusted gross income (AGI) below $75,000. These filers will get rebates up to $600.
  • Joint filers must have AGI below $150,000 and are eligible to receive rebates of up to $1,200.
  • Parents will receive $300 rebates per dependent child and there is no cap on the maximum number of children eligible.
  • Filers who do not owe income taxes because of various credits and deductions but who do have at least $3,000 in income (can include Social Security or disability payments) will get $300 rebates per person or $600 per couple.
  • The rebate is a one-time tax cut – an advance on a credit you’ll receive on your 2008 return.
If you made the IRS deadline and filed your taxes by April 15, you can expect to receive a check sometime between May and July.
Why not put your 2007 tax rebate toward the purchase of a new home? To learn more about Fairhope AL real estate, please visit JudySells.com or begin searching for Fairhope AL real estate here. For more personalized service, please call me at 251-990-056