Judy Niemeyer

Everyday life can get crazy at times, many people fantasize about running off to their own personal retreat right here at the Mobile Eastern Shore. But how do you know which vacation home is best for you?

Choosing a location

Do you want to be in the middle of all the activity, or enjoy the peace and quiet of a secluded location? Is a condo at the mountain your cup of tea or a farmhouse tucked away in the woods? Whichever environment you prefer, here are some things you should consider:

• Popularity. A house in a hot vacation market will usually cost more than a place off the beaten path. At the same time, continued popularity may help you profit from appreciation.
• Proximity to your home. If you plan to visit regularly, look for a place that's easy to get to.
• Rental possibilities. If you're hoping to offset some costs by renting the home for part of the year, find out about seasonal demand for rentals in the area.

Maintaining your getaway

Regular upkeep is more difficult with a vacation home than with your primary residence, but no less important. The value of the home, both as an investment and as a place you enjoy visiting, depends on good maintenance.

If your primary residence is not far from Mobile Eastern Shore, you may want to make weekly visits to mow the lawn, water the garden, clean the gutters or shovel snow. If doing it yourself is impractical, consider hiring a vacation property management company to provide maintenance services during the times when you're not using the home.

Visit JudySells.com to learn more about Mobile Eastern Shore and buying a vacation home or give me a call for more personal service.

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There is so much negative press about the lending industry these days, many Mobile Eastern Shore first time home buyers are scared to death to even consider buying a home. They hear stories that someone's mortgage payment went from $1,000 to $1,800 almost overnight. They are afraid of the fine print and don't know who they can trust.

A study conducted by the University of North Carolina School of Social Work determined that loans with low monthly payments result in borrowers who stay current. They also participate in their communities and vote.

The problem is subprime loans, says Roberto G. Ouercia, director of the Center for Community Self-Help, a nonprofit that partners with Fannie Mae and the Ford Foundation to lend mortgage money to low-income borrowers. The study found that borrowers with subprime loans are four times more likely to fall behind.

Subprime loans are loans to borrowers with questionable credit, usually 680 credit score or lower, and at higher interest rates.

Mobile Eastern Shore first time home buyers have other, less scary, mortgage options:

The Alabama First Step Mortgage Program

This tax exempt Mortgage Revenue Bond program offers lower than market mortgage interest rates and low fees for fixed interest rate 30 year VA, FHA or Rural Development mortgages. This program is designed for first time home buyers and low income home buyers. AHFA will provide a percentage of the home purchase price in down payment and closing cost assistance depending on the needs of the home buyer. This is financed over a 20 year term. To be eligible for this money you must use Rural Development or an FHA mortgage loan program.

The Alabama Step Up Program

The Step Up program is available throughout the state of Alabama. It is available year round and is available on a first come first serve basis. AHFA will provide no money down financing to qualified buyers that are using FHA or Rural Development loans. In conjunction with the down payment money, AHFA is offering a 30 year fixed rate mortgage with an interest rate that is slightly higher than the market rate on mortgage loans.

If you are a Mobile Eastern Shore first time home buyer and need more information on sound, reliable financing options, visit JudySells.com. You can also give me a call for more personal assistance.

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Judy Niemeyer of Ashurst and Niemeyer presents:

The Mobile Eastern Shore Real Estate Podcast

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Learn more about Mobile Eastern Shore real estate, please contact us at 251-990-0569 or visit JudySells.com.

Begin searching for Mobile Eastern Shore real estate and homes for sale.

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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Judy Niemeyer of RE/MAX By The Bay presents:

The Mobile Eastern Shore Real Estate Podcast

December 2008: 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.

Begin searching for Baldwin County real estate and homes for sale.