How To Save Your Down Payment When Buying Mobile Bay Home

How To Save Your Down Payment When Buying Mobile Bay Home

This is a great time to think about buying a Mobile Bay home. Mobile Bay home prices have dropped and interest rates are at all time lows. The biggest hurdle for many Mobile Bay home buyers is saving money for a down payment. Here are 25 things to do on a regular basis to save money:

  1. Make it automatic. Before you see your paycheck, have a percentage of it automatically deposited into your 401(k) and savings.
  2. Keep minimum funds in checking account. Transfer extra funds into your savings account where it will earn more interest than in our checking account.
  3. Don’t pay banking fees! Use your bank’s free bill pay, automatic deposits, free checks, and free reimbursements for all ATM fees.
  4. Use rewards credit cards. Use a credit card offering cash back on every purchase and pay the card off each month to eliminate interest fees.
  5. Actively search out deals. It never hurts to try and find a better deal, or request a better deal from your service providers.
  6. Use a programmable thermostat. Programmable thermostats save you an estimated 10-20% on your heating and cooling bills.
  7. Use ceiling fans, floor fans, and space heaters. Turn your thermostat down, close the doors to unused rooms and use a space heater for heat. Use ceiling fans and floor fans to assist with heating and cooling – depending on the season of course!
  8. Install CFLs to save energy. Compact fluorescent lights use about a quarter of the electricity of normal incandescent bulbs. They also need replaced much less often.
  9. Drive smoothly. Accelerate smoothly and at a reasonable rate, and coast to a stop as often as possible. Also use cruise control on the highway. My car is rated to get 26 mpg around town and I regularly get 29. You can also use these tips to save money on gas, and use gas rewards credit cards to save money on fuel costs.
  10. Plan and research major purchases. Take the time to research the best deals when planning a vacation.
  11. Buy quality products. Quality items may cost more up front, but they last longer and generally provide better results than cheaper, inferior products. Examples of items you should buy higher quality – furniture, clothes and shoes, vehicles, and other items that will see a lot of use.
  12. Buy generic where applicable. You can save a lot of money on generic items for which the brand name product is essentially the same as the store brand. Food and medicines come to mind as items where generic products are good deals.
  13. Use coupons and rebates. Use coupons for oil changes, groceries, books, on-line purchases, and just about anything else we can find.
  14. Use store rewards cards. Many grocery stores have their own ‘reward cards’ saving you money each time your shop. If you are a senior, shop on designated senior citizen discount days.
  15. Cook at home.  Limit restaurant dining to once a month.
  16. Eat leftovers. You can save a minimum of $20 a week by bringing your lunch to work. It is also healthier. On the rare occasion you go out to lunch with coworkers, you’ll enjoy it more.
  17. Use the library. Borrow books and movies from the library. New movie releases aren’t always available, but there are usually plenty of classics from the 40s and 50s.
  18. Use parks. They are great for hiking and outdoor recreation.
  19.  Take care of things. Treat the tings you own with respect and take good care of them. This includes doing things such as cleaning the house, washing your cars, and polishing shoes. Things last much longer when you take good care of them.
  20. Buy insurance. Health insurance, home owner’s insurance, auto insurance, and other types of insurance are designed to save you money! Sure, you may end up paying premiums for years and never file a claim, but in the event you need to file a claim, your premium will likely be small compared to what you would have had to pay. You’ll be very happy if you ever need it!
  21. Bundle cable and internet. You can save a lot of money by bundling these together rather than purchasing the separately. You can save more if you bundle your phone as well.
  22. Use cell phones – skip the landline. Depending on your plan, it can be a real cost saving.
  23. Cancel subscriptions. Almost everything you want can be found on-line for free.
  24. Home improvement. Try making your own repairs before calling a professional.
  25. Avoid debt. If you don’t have the money for it, don’t buy it.

Saving money and watching your savings account grow is a rewarding experience…especially if it can help you purchase a Mobile Bay home of your own.

Learn more about buying a Mobile Bay home at JudySells.com or give me a call for more personal service.

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Mobile Eastern Shore Real Estate Podcast

Judy Niemeyer of RE/MAX By The Bay presents:

This month’s edition covers Mobile Eastern Shore real estate market activity and then we’ll share three important tips for buying and selling in today’s holiday market.

Features special guest Terri Murphy of US Learning.

Program length: approximately 6 1/2 minutes

download podcast mp3 file | subscribe to podcast feed

Learn more about Baldwin County real estate, please contact us at 251-990-0569 or visit JudySells.com. 

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Baldwin County Real Estate: America Seeks Lending Oversight

Baldwin County Real Estate: America Seeks Lending Oversight

Americans are ready for more government oversight of the mortgage and lending industry.

According to the 2008 National Housing Pulse Survey, 56 percent of those surveyed favor a more active government role. Nearly eight out of 10 consumers believe the country is headed in the wrong direction, and a majority rate the current economy as poor. 

Foreclosures are also a big concern among those surveyed. Over one-quarter were worried about their home or the home of a family member entering foreclosure. 

However, there were signs of optimism. Eighty percent are confident they could refinance should they have the need, and only 8 percent are worried about their ability to make their mortgage payments over the next year. 

Read the entire report here.  

Learn more about Baldwin County real estate, please contact us at 251-990-0569 or visit JudySells.com. 

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Do You Believe In Santa Claus Baldwin County?

Do You Believe In Santa Claus Baldwin County?

If you are a skeptic, this story may turn you into a believer. The author is unknown.

I remember my first Christmas adventure with Grandma. I was just a kid. I remember tearing across town on my bike to visit her on the day my big sister dropped the bomb: “There is no Santa Claus,” she jeered. Even dummies know that!” My Grandma was not the gushy kind, never had been. I fled to her that day because I knew she would be straight with me. I knew Grandma always told the truth, and I knew that the truth always went down a whole lot easier when swallowed with one of her “world-famous” cinnamon buns. I knew they were world-famous, because Grandma said so. It had to be true. Grandma was home, and the buns were still warm. Between bites, I told her everything. She was ready for me.

“No Santa Claus?” she snorted….”Ridiculous! Don’t believe it.
That rumor has been going around for years, and it makes me mad, plain mad!! Now, put on your coat, and let’s go.” “Go where Grandma?” I hadn’t even finished with my second cinnamon bun yet.

“Where” turned out to be Kerby’s General Store, the one store in town that had a little bit of just about everything. As we walked through its doors, Grandma handed me ten dollars.

That was a bundle in those days. “Take this money,” she said, “and buy something for someone who needs it. I’ll wait for you in the car.” Then she turned and walked out of Kerby’s. I was only eight years old. I’d often gone shopping with my mother, but never had I shopped for anything all by myself.

The store seemed big and crowded, full of people scrambling to finish their Christmas shopping. For a few moments I just stood there, confused, clutching that ten-dollar bill, wondering what to buy, and who on earth to buy it for. I thought of everybody I knew: my family, my friends, my neighbors, the kids at school, and the people who went to my church.

I was just about thought out, when I suddenly thought of Bobby Decker. He was a kid with bad breath and messy hair, and he sat right behind me in Mrs. Pollock’s grade-two class. Bobby Decker didn’t have a coat. I knew that because he never went out to recess during the winter. His mother always wrote a note, telling the teacher that he had a cough, but all we kids knew that Bobby Decker didn’t have a cough; he didn’t have a good coat. I fingered the ten-dollar bill with growing excitement. I would buy Bobby Decker a coat!

I settled on a red corduroy one that had a hood to it. It looked real warm, and he would like that. “Is this a Christmas present for someone?” the lady behind the counter asked kindly, as I laid my ten dollars down. “Yes, ma’am,” I replied shyly. “It’s for Bobby.” The nice lady smiled at me, as I told her about how Bobby really needed a good winter coat.

I didn’t get any change, but she put the coat in a bag, smiled again, and wished me a Merry Christmas.

That evening, Grandma helped me wrap the coat (a little tag fell out of the coat, and Grandma tucked it in her Bible) in Christmas paper and ribbons and wrote, “To Bobby, From Santa Claus” on it. Grandma drove to Bobby Decker’s house, explaining as we went that I was now and forever officially, one of Santa’s helpers. Grandma parked down the street from Bobby’s house, and she and I crept noiselessly and hid in the bushes by his front walk. Then Grandma gave me a nudge. “All right, Santa Claus,” she whispered, “get going.”

I took a deep breath, dashed for his front door, threw the present down on his step, pounded his door and flew back to the safety of the bushes and Grandma.

Together we waited breathlessly in the darkness for the front door to open.

Finally it did, and there stood Bobby.

Fifty years haven’t dimmed the thrill of those moments spent shivering, beside my Grandma, in Bobby Decker’s bushes.

That night, I realized that those awful rumors about Santa Claus were just what Grandma said they were: ridiculous. Santa was alive and well, and we were on his team. I still have the Bible, with the coat tag tucked inside: $19.95.

Think about doing something this holiday season that will make you one of Santa’s helpers!

 

Mobile Bay Real Estate: Regulatory Reform Expected With Obama Presidency

Mobile Bay Real Estate: Regulatory Reform Expected With Obama Presidency

The upcoming presidential transition comes at a time of great challenges within the housing industry and the economy at large. Consequently, many are wondering what a Barack Obama presidency will mean for real estate and housing issues.

National Association of Realtors analysts expect the Obama administration and the new Democratic-controlled Congress to focus on regulatory reform of the financial services industry, with potential changes to Fannie Mae and Freddie Mac.

This fall, Obama responded to Realtor® Magazine‘s questions about the mortgage crisis, sustainable development, housing affordability and other topics. Read the interview here.

If you want to learn about Mobile Bay real estate, please contact us at 251-990-0569 or visit JudySells.com. 

Begin searching for Mobile Bay real estate and homes for sale.

Mobile Bay Real Estate And Homes For Sale: 450 Village Drive

Mobile Bay Real Estate And Homes For Sale:

450 Village Drive, Daphne AL 36526
MLS# 131381

MONTROSE VILLAGE IN DAPHNE, AL– MINUTES TO MOBILE. 130 FRONT FEET PLUS 5 ACRES ON MOBILE BAY. INCREDIBLE VIEWS, SANDY BEACH, MANY UPGRADES. DOUBLE MASTER FLEXIBLE FLOOR PLAN, INCREDIBLE DECKS, INDUSTRIAL ROOF. A MUST TO SEE.

Learn about Mobile Bay real estate at JudySells.com or give us a call, 251-990-0569.

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Baldwin County AL Real Estate: Reverse 1031 Exchange Demand Rising

Baldwin County AL Real Estate: Reverse 1031 Exchange Demand Rising

A slower Baldwin County AL real estate market is creating more of a demand for reverse 1031 exchanges. Properties are taking longer to sell making it difficult for sellers to adhere to 1031 exchange 180 day rules. But there is another option called a Reverse 1031 Exchange allowing for the roll-over of proceeds after closing on another property. Inman had a great article by Ilyce Glink addressing reverse exchanges. Read what she has to say:

Q: We are Canadian citizens who have owned a home in Fort Myers, Fla., for four years. There is no mortgage on the property.

We have put the property up for sale, and have made a down payment on a new house. We have bought and sold in the past, and I understand that as long as the new house is equal or higher in value, there are no capital gains taxes owed on the profits under IRS tax code 1031.

What happens if we have to close on the new house and the existing one has not sold yet? When it does sell, will we be able to use the proceeds of the sale to pay off the new mortgage with no penalty?

A: A 1031 tax-free exchange is used when a real estate investor sells a piece of property and purchases a replacement property that costs at least that much or more. The exchange must happen within a specified period of time. You have 45 days to identify the property and 180 days in which to close.

Many real estate investors are finding that the slow real estate market makes it tough to adhere to the deadlines. What can you do? You can set up a reverse exchange, in which you purchase the new property first and then sell the existing property afterward.

A qualified 1031 exchange company should be able to handle a reverse exchange. But be prepared, as reverse exchanges cost significantly more than a regular 1031 exchange. You should also hire a real estate attorney to make sure you’re doing it correctly and meeting all of the necessary deadlines.

A 1031 tax-free exchange cannot be used on personal property, so be sure that you are not using the property more than the time allotted by the Internal Revenue Service (IRS). Your 1031 exchange company should be able to advise you.

Are you selling Baldwin County AL real estate qualifying for a 1031 exchange? Visit JudySells.com or give me a call for more information.

Baldwin County Real Estate: Bailout Bill’s Impact On Real Estate

Baldwin County Real Estate: Bailout Bill’s Impact On Real Estate

 

The Emergency Economic Stabilization Act of 2008, also known as ‘the bailout bill,’ has real estate leaders talking about its impact on the industry. Dave Liniger, chairman and co-founder of RE/MAX International, offers his thoughts about the bailout, what it means to consumers and the government’s new role in real estate in an interview with RISMedia.com. Here’s what Mr. Liniger had to say:

 

RISMedia: What are your overall thoughts about the bailout?

 

Dave Liniger: The fact that the House did not approve the first version of the bill tells me they were trying to listen to the public. I hope they continue to listen. This bill is likely to go through a few changes, and a new administration and congress in January will make a lot of changes that we can’t foresee right now. But if our legislators listen to the consumer and create legislation that is truly responsive, I think it has a very good chance of having a positive impact on our industry.

 

RISMedia: Will the bill help restore real estate consumer confidence?

 

DL: Consumer confidence is really difficult to gauge. Most often it’s based upon what the media is reporting and the media pays very close attention to what the government does. So, if the reporting on this bill demonstrates some real workable solutions, the public will take notice and it may restore some confidence. But when inventories go down and buyers come back to the market, that’s when we’ll really see its impact.

 

RISMedia: Will the bill help restore real estate practitioner confidence? How can industry leaders help steer brokers and agents away from pointing fingers and into positive action?

 

DL: If the final bill addresses relevant issues, keeps families in their homes and reduces our inventory, brokers and agents will certainly see a changing market and have a more positive outlook. Our role is to keep providing motivation and practical strategies for succeeding in this market.

 

RISMedia: How patient do we, as an industry need to be? In your opinion, when might real estate consumers and professionals start to feel some relief from the bailout?

 

DL: I think it’s important that real estate professionals focus on being productive in this market. It’s hard to predict when everything will turn around. We have to work with the hand that we’ve been dealt. For consumers, sellers either need to price their home right or consider staying off the market right now. And buyers should take advantage of the high inventory and lower prices. If they’re buying to occupy a home, we’re at or near the bottom and they probably won’t do much better by waiting.

 

RISMedia: How can real estate practitioners work with their clients in explaining what the bailout means and how it might help them with their housing concerns?

 

DL: They need to read as much as they can about the government’s plan. Become familiar with the details and the various programs available to homeowners and buyers. For example, the New Home Buyer’s Tax Credit is a great program for those who haven’t owned their primary residence in the last three years.

 

RISMedia: What role can the industry play in helping to prevent a similar economic crisis in the future?

 

DL: This is a critical time for our industry and a time when I think we need to provide some leadership. When we see workable solutions proposed, we need to point them out and make sure the public understands the situation. We also need to be advocates for all those who make a living in our industry. I think these two actions are the most important right now.

 

Learn about Baldwin County real estate at JudySells.com or give us a call, 251-990-0569.

 

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Mobile Bay & Baldwin County Real Estate For Sale: Haleys Lane

Mobile Bay Real Estate For Sale:

Haleys Lane, Daphne AL 36526
MLS# 133955

Best value on the Bay! 158 feet of bay frontage with wide sandy beach in Daphne. Easy commute to Mobile. Beautiful views. Nice elevation. Covered patio with deck plus terrace. Inground pool. Easy access to bay. Oversized rooms. Den with wood burning fireplace.

For more information on Haleys Lane or other Baldwin County AL real estate, visit JudySells.com or give us a call, 251-990-0569.

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What Questions Should I Ask When Choosing My Mobile Bay Realtor?

What Questions Should I Ask When Choosing My Mobile Bay Realtor?

Your Mobile Bay home is most likely the largest investment you have and choosing a Realtor to assist you with the sale is a major decision. Below are questions to ask when choosing a Mobile Bay Realtor:

 

realtorMake sure you choose a REALTOR® who will provide top-notch service and meet your unique needs.

1. How long have you been in residential real estate sales? Is it your full-time job? While experience is no guarantee of skill, real estate — like many other professions — is mostly learned on the job.

2. What designations do you hold? Designations such as GRI and CRS®, which require that agents take additional, specialized real estate training, are held only by about one-quarter of real estate practitioners.

3. How many homes did you and your real estate brokerage sell last year? By asking this question, you’ll get a good idea of how much experience the practitioner has.

4. How many days did it take you to sell the average home? How did that compare to the overall market? The REALTOR® you interview should have these facts on hand, and be able to present market statistics from the local MLS to provide a comparison.

5. How close to the initial asking prices of the homes you sold were the final sale prices? This is one indication of how skilled the REALTOR® is at pricing homes and marketing to suitable buyers. Of course, other factors also may be at play, including an exceptionally hot or cool real estate market.

6. What types of specific marketing systems and approaches will you use to sell my home? You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive and innovative approaches, and knows how to market your property competitively on the Internet. Buyers today want information fast, so it’s important that your REALTOR® is responsive.

7. Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. Your REALTOR® should explain his or her agency relationship to you and describe the rights of each party.

8. Can you recommend service providers who can help me obtain a mortgage, make home repairs, and help with other things I need done? Because REALTORS® are immersed in the industry, they’re wonderful resources as you seek lenders, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive compensation from any of the providers.

9. What type of support and supervision does your brokerage office provide to you? Having resources such as in-house support staff, access to a real estate attorney, and assistance with technology can help an agent sell your home.

10. What’s your business philosophy? While there’s no right answer to this question, the response will help you assess what’s important to the agent and determine how closely the agent’s goals and business emphasis mesh with your own.

11. How will you keep me informed about the progress of my transaction? How frequently? Again, this is not a question with a correct answer, but how you judge the response will reflect your own desires. Do you want updates twice a week or do you prefer not to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit?

12. Could you please give me the names and phone numbers of your three most recent clients? Ask recent clients if they would work with this REALTOR® again. Find out whether they were pleased with the communication style, follow-up, and work ethic of the REALTOR®.

 

When you are ready to interview Mobile Bay Realtors, give me a call. I am glad to answer the above questions and any additional questions you might have.

 

Learn more about selling a Mobile Bay home at JudySells.com.