Not so long ago helping the environment meant recycling plastic and newspapers, but today it has evolved into "green" thinking and extends to our Eastern Shore AL real estate, homes and living environments.
According to a recent NAR survey, nine out of 10 Realtors® said their clients are interested in energy efficient features of green homes and the potential cost savings of such features. An overwhelming 90 percent agreed there will be even more interest in green building practices a year from now.
Results of a Harris Interactive poll by Move, Inc. show potential home buyers consider "green" building features more important than luxury amenities. Almost half of the adults surveyed (49 percent) said features such as solar panels or energy-saving appliances were "important," compared to just 31 percent who rated luxury amenities important.
Ninety-three percent of all home buyers are not willing to pay more for green or energy efficient features when building a home, according to a recent independent study commissioned by The New York Times Customer Insight Group.
However, a recent survey from Green Builder Media reports U.S. home buyers are willing to pay a premium for more environmentally friendly, green-built homes.
More than half of home builders surveyed (250 residential builders across the U.S.) said that buyers are willing to pay a premium of between 11-25 percent for green-built homes. The same builders report that the average green home buyer is between the ages of 35-50 with a college degree and fair understanding of green products.
Despite the conflicting statistics, the U.S. Green Building Council believes thinking "green" is an industry trend, rather than a passing fad; not only does it save on energy costs, it is better for our overall health and the environment as a whole.
Learn more about Eastern Shore AL real estate by visiting our website, JudySells.com.
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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.
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Short Sales Buzz In Mobile AL Real Estate
Mobile AL Real Estate Sales Statistics: May-July 2008
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In the current Mobile AL real estate market, there has been a lot of buzz around "short sales." What is a short sale, exactly? A short sale is when a lender agrees to accept a mortgage payoff amount less than what is owed in order to facilitate a sale of a property by a financially distressed owner - in essence, the lender forgives the outstanding balance of the loan.
There are pro's and con's to short sales on both sides of the deal. For the seller, credit history is seriously damaged, but not as badly as it would be by foreclosure. Sellers also walk away with no profit, which makes it difficult to purchase another home. For the buyer, the property comes at a reduced price, but it also generally comes with its fair share of problems, and there is a considerable amount of "red tape" to get through to complete the purchase.
The short sale buying process can be a confusing one, especially for a first-time short sale buyer. Check out this helpful article from BankRate.com and see 10 Steps for Short Sale Buying below:
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The latest survey by the National Association of Realtors® shows existing-home sales rose from the first quarter in 13 states, largely from buyers responding to discounted home prices. Nearly one-quarter of metropolitan areas showed rising home prices in the second quarter from a year ago, with greatly mixed conditions continuing around the country.
Let's take a look at the latest Mobile AL real estate sales statistics from Trulia to see if Mobile AL home sales have increased. Trulia compared May-July 2008 sales with May-July 2007 sales:
Mobile AL Real Estate Sales Statistics, May-July Comparison
The number of Mobile AL homes that sold declined 25% during the May-July time period compared to the same period in 2007. The per square foot price decreased by $1.00 or 1%, while both the average and median prices declined 3%.
Average Sales Price 2008: $168,457
Average Sales Price 2007: $173,403
Median Sales Price 2008: $140,238
Median Sales Price 2007: $145,000
Average Price Per Square Foot 2008: $92.00
Average Price Per Square Foot 2007: $93.00
Number of Sales 2008: 505
Number of Sales 2007: 675
What does this mean for Mobile AL home buyers and sellers? Buyers are continue to benefit from moderate prices. Add low interest rates to the moderate prices and the new tax credit for first-time buyers and now is an excellent time to buyer Mobile AL real estate.
With sales off 25% from a year ago, sellers will need to be competitively priced and in excellent condition to catch the eye of prospective buyers.
Interested in buying or selling Mobile AL real estate? Visit our website, JudySells, or give us a call for more personal service, 251-583-5923.
Search all Mobile AL real estate and homes for sale.
Also read:
How Does The Housing Recovery Act Help Mobile Home Buyers
7 Reasons To Own Your Own Mobile Home
Mobile Eastern Shore AL Real Estate Podcast
Mobile AL Real Estate Tip: Questions To Expect From Your Lender
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Whether buying, selling, relocating to the Eastern Shore of Alabama, Baldwin or Mobile Counties, The Judy Niemeyer Team is ready to listen to your needs and make a committment to you. Join us today.
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