“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
Home Leigh McPherson

Leigh McPherson

Blog_tag

Owning Your Dream Waterfront Home on the Alabama Gulf Coast

12-17-11
Leigh McPherson

Many people do not know that Alabama has beaches - beaches with SUGAR WHITE sand.

Gulf Shores Beaches - view from Lighthouse

Since I have lived in Alabama most of my life and have been visiting our beautiful

Alabama Gulf Coast my entire life before moving here permanently in 2004, I am always surprised to hear that there are still people who do not know that Alabama has beaches.

Not only do we have 60 miles of pure, sparkling sandy beaches, our tidal shoreline of bay, bayou and riverfront stretches for another approximate 600 miles.

My town, Orange Beach, Alabama is a boater's delight. In the heart of Orange Beach, just across from our sandy beaches, lies Cotton Bayou. Tie your boat here while you enjoy the beach; then just cross the street to jump in your boat or on your personal watercraft to explore the nearby bayous, bays, and rivers. If you own a larger boat, you might want to venture out through Perdido Pass and into the beautiful Gulf of Mexico. The canals and narrow bayous all around Orange Beach and nearby Ono Island offer delight for canoers and kayakers. We even have a dedicated Canoe Trail along the back bays.

Think Sweet Home Alabama and Crimson Tide football is all there is to Alabama? Think again! Call or email me to discuss the joys of life on the Alabama Gulf Coast!

0 Comments
Blog_tag

A Few Tips for Buying Foreclosed or Bank Owned (REO) Properties on the Alabama Gulf Coast

09-06-11
Leigh McPherson

DREAMING OF GETTING A GREAT BEACH BARGAIN ON A BANK OWNED PROPERTY? READ ON!

AFTER A THINNING INVENTORY THIS SUMMER in Gulf Shores and Orange Beach, Alabama, along the beautiful Gulf Coast, it appears that we will have more foreclosures coming. Here are a few tips if you are thinking of buying a foreclosure or bank owned property. Some things you need to know about buying a foreclosure:

  1. REDEMPTION - Alabama has a 1 year right of redemption law. As your realtor, I can explain in detail and it is not as scary as it sounds. We can do the research to find out when the redemption period began. I can also refer you to an experienced foreclosure attorney. This right is almost never exercised.
  2. Nearly all foreclosures come unfurnished. Many may be stripped of appliances or fixtures. Be sure to figure this into your buying budget.
  3. REO and bank owned properties vary widely in condition from poor to excellent, but are usually sold in as-is condition, making a home inspection essential in the due diligence process. I can help you find a good inspector who works Gulf Shores and Orange Beach.
  4. Terms of sale vary based on the bank selling the property and/or any third party asset management companies assisting the bank in the sale. EXPECT MORE LENGTHY AND REPETITIVE PAPERWORK THAN YOU WOULD EXPECT FOR A TRADITIONAL SALE.
  5. Some foreclosures (Fannie Mae, for example, with their First Look Program) require a 7-14 day waiting period for investor offers, giving the advantage for purchase to owner occupant purchasers.
  6. Generally, banks and their asset managers price the property to sell quickly. Be ready to make an offer. Have your cash ready or your financing in order. Often, a property will receive multiple offers and sell quickly. Plan on providing proof of funds or financing approval with your offer.
  7. Banks have no emotional ties to the property and operate based on numbers. They tend to not accept or counter any offers less than 6-10% off from asking and will play the list and reduce game if not sold in 60-90 days or less. They will periodically reduce the price until the property sells.
  8. Some local or smaller banks may not be in the position to price the property competitively enough to sell in this market.
Buying a foreclosed property can be scary, but it can be a tremendous opportunity to get a great buy. Count on me, your expeienced Alabama Gulf Coast realtor, to guide you through. I have listed and sold bank-owned properties, so you will be in experienced hands as you make your Alabama Gulf Coast purchase!
3 Comments
Blog_tag

End of the Year is Here! Pick up those Beach Bargains Now!

10-19-09
Leigh McPherson

WOW!! Where did the summer go? Last weekend I was pouring sweat as we finished up our annual charity campaign for Children's Miracle Network at the National Annual Shrimp Festival; and this morning I had to pull out my trust RE/MAX pullover to go out and get the paper. The weather is getting warmer later in the week... and the deals are getting HOTTER! Rates have remained low and choice, well-priced properties continue to trickle onto the market. The opportunities are there - and buyers are noticing. Sales of beachfront property were up 50% from last September. Take advantage of these deals now. In a few years, you will be glad you did!

0 Comments
Blog_tag

Gulf Coast Buys!

07-04-09
Leigh McPherson

It is often a challenge to show resort property in a resort and second home market - especially on a big weekend like this one! But after the holiday excitement wanes, the market will remain strong for our beautiful beachside and bay properties. The high tourist season results in the greatest gross income for our investment property owners, but as the summer wears on and fall begins, our area remains a desirable place to be.

Fall fishing attracts many tourists, and slightly cooler (yet still very mild) temperatures make the Alabama Gulf Coast a wonderful place to visit. Our sunny beaches are a big draw year round. Fall is also a good time to look at resort property. Prices low, inventory good, and rates still low. Come purchase your piece of paradise now!

0 Comments
Blog_tag

Wonderful Buys Abound!

04-26-09
Leigh McPherson

I have said it before this year and I will say it again - There has NEVER been a better time to buy beach property! Low rates, good selection, beautiful beaches in Gulf Shores and Orange Beach, AL and Perdido Key , Florida.

Call or email me today - I would love a referral from you!

0 Comments