Mobile Eastern Shore AL Real Estate Market: Should You Rent Your Unsold Home?

With Mobile Eastern Shore AL real estate sales slowing a bit for the summer, many sellers are left wondering if they may be better off renting their home out for the time being until market activity picks back up.  If you have already purchased another home, this option is especially attractive as it allows you to cut down on the expense of paying two mortgages while you wait for your home to sell.


Below are some items to think about, courtesy of BankRate.com, before deciding to become a landlord:

 

  • Mortgage payments must be made regardless of if the property is inhabited.
  • Costly repairs and maintenance work cannot be delayed if they inconvenience the tenant.
  • Disputes with tenants could require legal representation and legal fees.
  • There are many costs involved in renting a home – it is recommended that landlords budget 25-30% of the rent to be used for maintenance, repairs, or emergency. This should be a key factor when deciding how much rent to charge in order to break even.

 

In addition to extra tax advantages (on top of the regular deductions of mortgage interest and taxes), renting out your property might also allow you to continue to build equity in your old home at the expense of the renter.  You might even be able to make a profit from the rent, if your expenses are low enough!

 

If you are interested in buying or selling Mobile Eastern Shore AL real estate, please call me 866-560-7474 or visit JudySells.com.  Request a relocation package!

Mobile/Eastern Shore AL Real Estate Tip: What Is Universal Design?

You may have heard buzz around the term “universal design” in recent years, but do you know what it is or how it affects the Mobile/Eastern Shore AL real estate and construction markets?

 

According to Lowes.com, universal design is the creation of products and environments meant to be usable by all people, to the greatest extent possible, without the need for adaptation or specialization. The intent is to simplify life for everyone by making products, communications and the built environment more usable by as many people as possible at little or no extra cost. Universal Design benefits people of all ages and abilities.

 

Think this is some “far out” theory just now working its way into the “modern” world?  Think again:  if you’ve ever walked through an automatic door, you’ve experienced a version of Universal Design.   Likewise, a ramp or curb cut is just as welcome to someone with a baby stroller as it is to someone in a wheelchair.
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Re-capturing the American Dream With Mobile/Eastern Shore AL Real Estate

In the past, owning a home has always been perceived as a major component of the “American Dream.”  Unfortunately, because of the recent real estate market activity, home-ownership is often seen now as more of a nightmare than a dream.  But that doesn’t have to be the case!  Even in a slower economy, purchasing Mobile/Eastern Shore AL real estate can still be a step toward achieving your own “American Dream!” 

 

Inman News offers some reasons why home ownership still has benefits and advantages, including:

  • The opportunity to build equity and create wealth over time.
  • Protection from rent increases or eviction at the whim of a landlord.
  • The pleasures of a relatively larger home, suitable for a family, and with a backyard, garage or other auxiliary space.
  • The freedom — design review boards notwithstanding — to improve, remodel or redecorate to suit one’s own style and budget.
  • A variety of lucrative income-tax breaks.
  • Pride of ownership and a greater sense of security and stability.

 So, if you are thinking of purchasing Mobile/Eastern Shore AL real estate, now is the time!  Don’t let the negative media attention on the market get you down – home ownership is still an attainable goal and a big part of the American Dream.

 

If you are ready to begin looking at Mobile/Eastern Shore AL real estate, please call me at 866-560-7474 or visit JudySells.com. 

Mobile/Eastern Shore AL Real Estate Market: Should You Rent Your Unsold Home?

With Mobile/Eastern Shore AL real estate sales slowing a bit for the summer, many sellers are left wondering if they may be better off renting their home out for the time being until market activity picks back up.  If you have already purchased another home, this option is especially attractive as it allows you to cut down on the expense of paying two mortgages while you wait for your home to sell.


Below are some items to think about, courtesy of BankRate.com, before deciding to become a landlord:

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Eastern Shore Mobile AL Real Estate: Getting The Price Right

“Location, Location, Location.”  We hear it all the time in the real estate world and many assume that location is the most important criteria to buyers when purchasing a new home.  But what is it really that determines why one property sells more quickly than another?

 

Price.   Having the right price was the most important factor in deciding on one home over another, according to 2/3 of the respondents of a recent poll conducted by the National Association of Realtors.

 

Sellers agreed on the importance of the right price.  “Getting the price right” was and is one of the most frequently cited challenges for sellers who are not represented by a Realtor®.

 

Other factors that were included in the poll were – no surprise – location, but also condition of the property, staging, and upgrades.

 

If you are interested in learning about Eastern Shore, Mobile AL real estate prices, please call me at 866-560-7474 or visit JudySells.com.  You may also begin searching the MLS!

 

The Case For Staging Your Mobile AL Real Estate

Staging  Mobile AL real estate for sale has become a hot trend in the industry.  Unlike some trends that are more trouble than they’re worth, however, this is one trend that can really pay off!  Here are 12 reasons why you should consider staging your home on the market:

1. Turbo Boost Sales Time
Experts all agree and studies show staged homes sell quicker – sometimes up to 50% faster – than non-staged homes.  Not only are you having to pay for your mortgage while your home stays on the market, but the longer the home is on the market, the greater chance there is for a price reduction.  Typically, when a home has been on the market for some time, buyers and agents will assume there must be something wrong with it or that the seller will be anxious to sell and will take much less than the asking price.

2. First Impressions Are The Most Important
People’s first impression of your home is critical.  Staging gives you the best opportunity to make a positive first impression rather than a negative one.  The stronger the impression, the less likely a potential buyer will be bothered if some things aren’t perfect.

3. Gone In 60 Seconds…
Psychology experts have proven that people react based on emotion and then seek logic to back up the feeling.  From a real estate perspective, a buyer will make an initial reaction in less than a minute whether they like your home or not.  Then, after the potential buyer’s initial decision has been made, they will either confirm that decision or rescind it in the next 6 to 20 minutes as they tour the property.  This is why proper staging is critical for any listing.    

4. Ready, Set, Go – Move-In Ready Sells Faster
A properly staged listing not only appears to be in “Move-In Ready” condition, but it really is.  Staging a house for sale means that every component of the house is as close as possible to model condition.  All buyers prefer to buy a home where they can just move-in and start enjoying life.  Most will even pay a premium for this.

5. Imagination Not Included
Did you know that only 5% of the population can truly visualize how beautiful a home can be or see past the clutter, grime and so-so appearance?  It’s true.  Help potential buyers see themselves happily living in your listing and let the offers come pouring in. 

6. Be the Needle In The Haystack
Staged homes have a much greater competitive advantage over houses that are not staged.  Experts are predicting that more and more listings will be sitting on the market for sale in the next few years.  Some areas have already seen a 100-300% increase in available inventory and average time on market.  A staged home stands apart from other listings because it has been properly merchandised to bring out the best qualities of the listing.
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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!

Fairhope AL Real Estate Inspections

Contrary to popular belief, home inspections are not just for new home purchases!  It is extremely important to have your Fairhope AL real estate inspected professionally on a regular basis to ensure you keep up with any necessary maintenance or repairs. 

Home inspectors offer many types of inspections to suit Fairhope AL real estate owners’ needs – some of these include:

*           – Pre-Listing Inspections

*           – Pre-Purchase Inspections

*           – New Construction Inspections

*           – HUD/FHA Inspections

*           – Multiunit Inspections

*           – Annual Maintenance Checkup

A home buyer can save thousands of dollars by having a professional home inspection performed before purchasing a home.  Also, in areas with extreme weather circumstances, inspectors can help locate potential problems or damage that may be hidden to the naked eye.

To learn more about Fairhope AL real estate or for a referral to an experienced home inspector, please call me at 866-560-7474or visit JudySells.com.  You may also begin searching for Fairhope AL real estate here!

Fairhope AL Real Estate Trends: Catering To The Boomers

With the Baby Boomer generation becoming the largest-growing segment of the American population, it should be no surprise that these folks – not who we might think of as “trend-setters” – may be the ones driving the latest design and building trends in real estate.

 

This article in the Wall Street Journal explains how designers and architects are catering more and more toward the Baby Boomers.  Research is now showing that many of this generation are choosing to stay in their homes through retirement, instead moving to “assisted living” or a retirement community.


This influx of aging buyers has led to home renovations and new construction including halls and doorways wide enough for walkers and wheelchairs, as well as more master suites and laundry rooms on the first floor.  The technology behind home appliances and fixtures is also catching up, with a myriad of appliances and home design elements more senior-friendly. 

 

Some of the innovations in home design and appliance re-design include:

  • Stoves that monitor pots to prevent boiling over
  • Adjustable typeface on appliance control panels
  • Faucets that turn on and off with just a touch anywhere on the spout
  • Dishwashers designed to be mounted at a more comfortable height
  • Refrigerators with doors and storage designed to reduce bending over
  • Adjustable volume/pitch of oven alarms

I saved the best for last.  There is even a toilet on the market with an electric-blue nightlight built in and a motorized heated seat cover that rises with the touch of a button.  Now there’s an amenity that everyone can appreciate!

 

The impact these trends will have on the real estate market as a whole is uncertain, but with more Baby Boomers purchasing Fairhope AL real estate, light-up toilets may come standard with the next home you purchase!

 

To learn more about trends in Fairhope AL real estate, please call me at 866-560-7474 or visit JudySells.com.  You may also begin searching homes here!

Which Fairhope AL Neighborhood Is Right For You?

Whether you are a newcomer to the area or just purchasing Fairhope AL real estate for the first time, navigating the different neighborhoods can be overwhelming when you are trying to find the one that fits your needs best.  You may find the perfect home, but later discover the property values in the neighborhood have plummeted due to foreclosures or other circumstances.

 

Realty Trac’s Neighborhood Locator tool is a great resource when researching Fairhope AL neighborhoods.  You can search for neighborhoods that offer the best bargains or that boast the highest home appreciation rates.  You can also find areas that are ideal for first-time homebuyers, or that are similar to the neighborhood you currently live in!  The neighborhoods are evaluated based on home costs, crime rates, public school systems, and demographics. 

 

To get more detailed information about Fairhope AL real estate and neighborhoods, please call me any time at 866-560-7474 or visit JudySells.com.  You may also begin searching Fairhope AL real estate here!