Buyers of Mobile AL Real Estate: Lock in Low Interest Rates NOW!

As I reported recently, Fannie Mae is now requiring only a 3% down payment on all loans processed through its Desktop Underwriter® program.  This is great news for buyers who can take advantage of this program.

 

If you are in the market for a conventional mortgage, however, the news may not be so promising.  As this article from the Real Estate Journal explains, mortgage interest rates are climbing again at an alarming rate, and it is in Mobile AL real estate buyers’ best interests to lock in a low rate now.  Due to fears of inflation, the average interest rate on a typical 30-year fixed loan has spiked to 6.02% from 5.82% in just a week. 

To see how this spike would increase your mortgage payments, consider this:  as a rule of thumb, for each $100,000 you borrow, an additional tenth of a percentage point on your mortgage rate will add about $2,300 to the total amount of interest you will pay over the life of the loan.  For example, on a $300,000 mortgage, the current increase will add $38 to your monthly payments. It will cost an extra $4,000 in interest over the total life of the loan.

To learn more about Mobile AL real estate, or for a referral to a reputable lender who can explain your options when it comes to interest rates, please call me at 866-560-7474 or visit JudySells.com. 

Fun Father’s Day Facts For Mobile AL

Today we take a break from Mobile AL real estate to devote some time to honoring DAD. Father’s Day is coming up this Sunday – there are plenty of fun Mobile events happening that you can enjoy with the special father in your life!

Here are some little-known facts about the holiday:

  • The word “Dad” dates back to the sixteenth century, or possibly even earlier. It may have originated with the Welsh word “Tad” (meaning father), which later mutated to Dad. The word “Father” is derived from the Old English “Foeder”.
  • A father ocean catfish carries the eggs of his young in his MOUTH until they are ready to be born (which may take several weeks!). During that time he cannot eat anything.
  • Father penguins remain on their feet in arctic temperatures for 60 days or more to protect his eggs, he also cannot eat while guarding his eggs.
  • There are approximately 66.3 million fathers in the United States.
  • Neckties lead the list of Father’s Day gifts, and there are 10,416 men’s clothing stores around the country.
  • Other items high on the list of Father’s Day gifts include those you may find in dad’s toolbox, such as hammers, wrenches and screwdrivers. You could buy some of these items for dad at one of the nation’s 14,755 hardware stores or 5,280 home centers.
  • There are 23,018 sporting goods stores. These stores are good places to purchase traditional gifts for dad such as fishing rods and golf clubs.
  • Nearly 69 million Americans have participated in a barbeque in the last year — it’s probably safe to assume many of these barbeques took place on Father’s Day.
  • There are approximately 98,000 “stay-at-home” dads. These are married fathers with children under 15 years old who have remained out of the labor force for more than one year primarily so they can care for the family while their wives work outside the home.

Next week we’ll return to discussing Mobile AL real estate. In the meantime, enjoy a relaxing weekend with dad! Please feel free to call me at 866-560-7474 or visit JudySells.com to learn more about Mobile AL real estate.

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!

Get Mobile AL Real Estate With Lower Down Payments

Fannie Mae has announced down payment requirements will be lowered from 5% to just 3% for all conventional, conforming mortgages processed through its Desktop Underwriter® automated underwriting system, as of June 1.  Loans processed outside the Desktop Underwriter® system will still require a 5% down payment.

 

This initiative, part of Fannie Mae’s “Keys To Recovery” campaign, will apply to borrowers all across the country, regardless of local market conditions.  Since the biggest obstacle for many first-time home buyers is saving up enough money for a down payment, this is great news if you want to take advantage of the current Mobile AL real estate market!

 

Read the full article here, and please email me me or call me at 866-560-7474 if you need a referral to a reputable local lender!  To learn more about Mobile AL real estate, please visit JudySells.com, or visit the MLS to begin searching homes.

Mobile Eastern Shore AL Real Estate Podcast

This month’s edition covers Mobile Eastern Shore real estate market activity and then we’ll talk about how to avoid the pricing pitfalls and still manage to get top dollar for your home!

Features special guest Terri Murphy of US Learning.

Program length: approximately 7 1/2 minutes

download podcast mp3 file | subscribe to podcast feed

 

To learn more about current Mobile AL real estate market conditions, please call me at 866-560-7474 or visit JudySells.com.  You may also request a complimentary relocation package!

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 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!